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Enron Mail |
Summary of yesterdays meeting attached
Susan J Mara 01/14/2001 01:16 AM To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT, Christina Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES, Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Donna Fulton/Corp/Enron@ENRON, Dorothy Youngblood/HOU/ECT@ECT, Douglas Huth/HOU/EES@EES, Edward Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES, Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Gayle W Muench/HOU/EES@EES, Ginger Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES, James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES, Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES, Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES, Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, Mike D Smith/HOU/EES@EES, Mike M Smith/HOU/EES@EES, mpalmer@enron.com, Neil Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Richard L Zdunkewicz/HOU/EES@EES, Richard Leibert/HOU/EES@EES, Richard Shapiro/NA/Enron@ENRON, Rita Hennessy/NA/Enron@ENRON, Robert Badeer/HOU/ECT@ECT, Roger Yang/SFO/EES@EES, Rosalinda Tijerina/HOU/EES@EES, Sandra McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES, skean@enron.com, Tanya Leslie/HOU/EES@EES, Tasha Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S Bradford/HOU/ECT@ECT, Mike D Smith/HOU/EES@EES, Donna Fulton/Corp/Enron@ENRON, mjackso7@enron.com, psmith3@enron.com, Frank W Vickers/NA/Enron@Enron, Ren, Lazure/Western Region/The Bentley Company@Exchange, Jubran Whalan/HOU/EES@EES, Richard B Sanders/HOU/ECT@ECT, gfergus@brobeck.com, rcarroll@bracepatt.com, Kathryn Corbally/Corp/Enron@ENRON, dwatkiss@bracepatt.com, Bruno Gaillard/EU/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Tom Riley/Western Region/The Bentley Company@Exchange cc: Subject: Update --Third Session -- Day 4 -- PRINCIPALS MEET SATURDAY Friday, January 12, 2001 By the end of the day, the Treasury had decided to move forward and hold another meeting with the CEOs, Governor Davis and various other Government officials. Governor Davis refused to come to California, so a video conference was set up with two locations: one at DOE in Washington and one in Los Angeles for the Governor and his entourage. It was tentatively set up for 2:30 pm CST. I have had no reports on the meeting yet. Ken Lay, Steve Kean and Rick Shapiro attended for Enron. Long-Term Forward Contracts Good progress was made and the report was completed by 4 pm. It includes a draft RFO, draft standard contract, a table of utilties' needs, products required and a timetable that would have power flowing by February 1. Participants were fairly pessimistic about the eventual outcome, however, given the absence of any buy-in or participation by the State of California. Debt and Forebearance Group also worked to have draft documents completed by COB Friday. QF Contract Reformation Parties continued discussion No information was available by COB Friday. Major Issues State interest in resolving State willingness to raise retail rates Utilties' desire to offload all risk to the State as its portfolio manager Willingness to "call off the dogs" for the suppliers and to release them from legal action State willingness to offer up sites for power plant development Ability to reach deal on QF contract reformation Next Steps If definitive agreement is not reached by the principals at Saturday meeting, this work ends immediately and utilities will likely file for bankruptcy the week of Jan 15. If agreement is reached, a massive amount of work is required immediately, such as: FERC filing of settlement and ISO Tariff change by Tuesday Jan 16. RFO completion and release by Jan 18 Introduction and passage of necessary legislation to be executed by February 2. Preparation of contract between utilities and state (probably DWR) Preparation of formal agreements among the parties on the terms on this settlement And more...
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