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Enron Mail |
Attached are draft documents that address entering into separate transactions
for the off-peak and on-peak periods. As you can see, these documents are similar to the draft round-the-clock MW Turndown transactions that we have been discussing. We are proposing to paper these transactions as if the off-peak each month is executed first and then at a later date the on-peak transactions are executed when the gas and power prices allow us both to make money. We have also included language in the transaction agreements to allow negative values in the keep whole and revenue sharing formulas to be carried forward to the end of each quarter and included as a true-up in the last payment of each quarter. Below is a brief description of the other changes: Off-Peak Transaction: Different physical plant burns for weekdays or weekends & holidays Baseload resale of gas back to ENA ENA's balancing capabilities in Canada will level out varying plant burns ENA's balancing charges, if any, are included in the keep whole formula No obligation to sell incremental gas supply into Empire ( i.e. No Part II ) Hourly average of the off-peak LBMP's is used in pricing formula On-Peak Transaction: On-peak LBMP's is used in pricing formulas ENA obligation to sell incremental gas supply into Empire under Part II Plase call me with your comments, Ruth
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