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Enron Mail |
CONGRATULATIONS!!!
PAT JOHNSON is the winner for =01+The Name This Newsletter Contest=01,. It= was a=20 close call. After receiving over 50 great ideas, the PR Dept had a tough ti= me=20 narrowing the list to the top ten for Mark Frevert=01,s final decision. We= =01,d=20 like to thank everyone who submitted suggestions and a special thanks to Pa= t=20 Johnson for sending in the winning name EnTouch.=20 BUSINESS HIGHLIGHTS EGM Coal & Emissions The November and December NYMEX market remains very tight. Offers in the O= TC=20 market have climbed to the low $40s. The highest reported trade for Decemb= er=20 was reported at $38.50. The tightness should continue through the first= =20 half of the year with the Martin County mine still shut down. The rest of= =20 the year remains strong piggy backing off of the current spot market.=20 Finally--Life beyond the 150 to 155 range--vintage year 2000 SO2 allowances= =20 broke out of this trading range this week. The low trade was around $119.5= 0=20 and the last trade was around $120.50. The sharp drop in prices was caused= =20 in large part by the news of Dominion Virginia Power settling the New Sourc= e=20 Review lawsuit brought against it by the state of NY and the EPA Continuing= =20 rumors of further NSR related settlements will likely create continued=20 volatility. It is as yet unclear what the new price floor will be. NOx has settled down a bit with last trade 2001 vintage of $675. Principal Investments Solo Energy Corporation, an Alameda, California based developer of Wireless= =20 Energy microturbine products to supply superior on-site energy service to= =20 U.S. commercial and light industrial customers, announced that Enron North= =20 America has completed an equity investment in Solo Energy as well as entere= d=20 into an alliance agreement. In exchange for warrants to purchase the Company=01,s preferred stock, Enro= n=20 will assist in obtaining fuel contracts to support the Company=01,s distrib= uted=20 generation contracts, including the provision of gas and backup electricity= ,=20 and will work with the Company to support its market and gas technology=20 research.=20 NEWS FROM THE GLOBALFLASH EnronCredit.com On Halloween, Enron Credit.com hit the City of London last Tuesday. As an= =20 original PR stunt, the EnronCredit.com team organized a Grim Reaper with tw= o=20 female vampires to distribute candy carrying the message, "Corporate=20 bankruptcies are on the increase and could be your worst nightmare. You can= =20 protect your company and sleep well at night". Locations for the distributi= on=20 of 5,000 packs of candy were Bank, Broadgate and Canary Wharf. The general= =20 feedback and reaction of people was positive. Photos of the event will be= =20 available on the EnronCredit.com site. Enron Japan Corp. Enron is powering ahead in Japan following the official launch of Enron Jap= an=20 Corp. in Tokyo last week. In keeping with Japanese tradition, Ken Lay, Joe= =20 Hirl, Ken Rice and Mike McConnell donned "happi coats" - a sort of short=20 kimono - and used ceremonial hammers to break the lid of a wooden cask of= =20 sake in front of an audience of 350 drawn from major companies and=20 government. Enron has made an immediate impact already by offering eligibl= e=20 consumers 3-5 year contracts with immediate savings of up to 10 percent in= =20 the first year. View the Japan website at www.enron.co.jp [No worries,= =20 it's in Japanese and English ...Ed] There are 35 Enron employees in the Tokyo office including an Enron Metals= =20 team. EBS will be staffing up there over the coming months. =20 Nordic energy agreement with UPM-Kymmene Enron Nordic Energy and UPM-Kymmene Corp. have signed a two-year portfolio= =20 management agreement covering UPM Kymmene's Nordic power portfolio. The=20 Mid-Market desk in the Oslo office will assist UPM in optimising its=20 portfolio of approximately 14 TWh. energydesk.com will provide UPM with the= =20 risk management system used in the process. In addition, the agreement open= s=20 the door for Enron Energy Services to explore a variety of opportunities=20 within the company. The Nordic agreement is the first step towards a broade= r=20 scope of co-operation with UPM on a European and Global basis. The total=20 contract value is estimated to be $375 million. UPM-Kymmene's nominal electricity resources total about 3000 MW, of which= =20 2500 MW in Finland and about 500 MW in other countries. The group's power= =20 procurement totals approximately 18 TWh per year, of which about 14 TWh in= =20 Finland. Around 15 TWh/a is consumed by the group's own mills and the rest = is=20 sold to the market. http://www.upm-kymmene.com http://www.upm-kymmene.com/upm/energy/energybuild.html The deal was led by Sami Tenngren - Nordic Mid-Market, and was supported by= =20 Magnus Groth - EES, Jukka Hormaluoma - energydesk.com, and Martin Rosell -= =20 Legal. Congratulations on a job well done to all those who worked so hard to put= =20 this transaction into place........Thor Lien. Australia Despite heavy flooding in NSW, the weather is looking up for Enron=20 Australia. Last week, the Sydney Office launched online Hong Kong weather= =20 derivatives and the Sydney weather node traded on EnronOnline in the US ti= me=20 zone. With this precedent, we hope to support the takeoff of global weathe= r=20 on EnronOnline. =20 The Coal Group in Sydney has suddenly become very popular. There is no doub= t=20 that a recent sale to AES for the plant at Barbers Point, Hawaii is the rea= l=20 reason. Coal purchases during year 2000 have been concluded with most majo= r=20 producers in Indonesia and Australia. We will soon be loading our first=20 shipment from China. Deliveries to Nippon Steel in Japan are underway. Also= ,=20 a shipment to a large power utility in Japan will take place in early 2001. Off-shore wind plans Enron has entered into agreement to purchase the development assets of a 30= =20 MW offshore wind project in the UK. The Harwich project, situated in=20 Gunfleet Sands approximately eight kilometres offshore in the North Thames= =20 Estuary is believed to represent one of the first serious investments in th= e=20 development of offshore wind energy in the UK. ENRONONLINE STATISTICS Below are the latest figures for EnronOnline as of November 27, 2000. * Total Life to Date Transactions< 464,000 * Life to Date Notional Value of Transactions < $263 billion NUGGETS & NOTES "How does your earnings target look for the quarter?" =01) Brent Price,=20 VP/Operations & Chief Accounting Officer for EGM "Always price the illiquidity risk premium appropriately!" =01) Doug Friedm= an,=20 Director of Financial Petrochemicals and Plastics What people say to Julie Gomez,VP/Upstream Services-ENA - "I heard your lau= gh=20 clear across the floor!!!" IN THE NEWS "The uncertainty [of the presidential election] does not influence business= .=20 It is a relatively short-term distraction. Our business model has not chang= ed=20 and will not change as a result of the election because we've worked very= =20 well with both the Clinton/Gore administration in Washington and the Bush= =20 administration in Texas." -- Mark Palmer, vice president of Enron Corporate Communications, Associate= d=20 Press "The name of Enron may be unfamiliar in Japan, but it should not stay that= =20 way for long.........Joseph Hirl, president of Enron Japan, says: "We don't= =20 go in and try to destroy markets - we go in and create them." Some of the= =20 company's potential customers and business partners may still need to be=20 persuaded of that, but Enron has a large stock of experience to reassure=20 them".---Financial Times WELCOME New Hires ENA/EIM/EGM ENA =01) Lydia Atwood-Minter, Kenneth Thibodeaux, Lacye Trevino-Brymer EGM =01)Humaira Badat, Daiquiri Lucas Transfers to ENA/EIM/EGM ENA =01) Trinh Abrell, Terri Austin, Guillermo Balmaceda, Eric Booth, Rober= t=20 Chmielewski, Joyce Dorsey, Sharon Gonzales, Laura Gutierrez, Scott Healy,= =20 Dawn Kenne, Robert Kraszewski, Sandra Morris, David Porter, Daniel Quezada,= =20 Henry Quigley, Steven Rose, Felecia Russell, Mary Symes, Dan Williams,=20 Rosalinda Zermeno EGM =01) Braedi Craig, Scott Baukney, Samantha Davidson, David Loosley, Joh= n=20 Massey, Diana Monaghan, Adam Siegel, Ioannis Tzamouranis=20 LEGAL STUFF The information contained in this newsletter is confidential and proprietar= y=20 to Enron Corp. and its subsidiaries. It is intended for internal use only= =20 and should not be disclosed
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