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Enron Mail |
With respect to doing a financial trade out of Energy West Incorporated
versus Energy West Resources, Inc., they are not one in the same. Energy West Incorporated is the parent of Energy West Resources, Inc. We currently have an ISDA between Enron Canada Corp. and Energy West Incorporated. Unfortunately, any unsecured credit lines have been taken by the Canadian team via the ISDA in Canada. Since physical power came later, we have had to secure all deals with Energy West Resources, Inc. since our credit appetite for the overall organization has been saturated with financial Canadian deals. Therefore, to the extent that we do any financial business with Energy West Resources, Inc. or Energy West Incorporated with ENA, we will need to get a new ISDA in place, and will need collateral upfront prior to transacting. FYI - the majority of the financial in-the-money exposure with Energy West Incorporated out of Canada will not roll off until 10/01 and 10/03, unless we do additional financial deals out of Canada to offset. Credit is secured and covered in Canada for financial exposure and will watch the exposures accordingly to see if we can ever allocate some of the credit appetite to accommodate physical business out of ENA. John, please let me know how you would like to proceed. I can start with a credit worksheet to the financial team to get the ball rolling. Regards, Tracy John Malowney 10/10/2000 07:13 AM To: Tracy Ngo/PDX/ECT@ECT cc: Subject: Energy West financial swap Tracy, as you know I'm looking to do a financial spark-spread swap with Energy West..... In checking around, I've come to the conclusion that I need either an ISDA or a Confirmation with an Annex A. What is your preference ??
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