Enron Mail

Subject:Re: Consumers Energy
Date:Tue, 5 Dec 2000 07:36:00 -0800 (PST)

This deal is booked correctly. The external fee, labeled exchange fee is the
.145 cents per mm that we owe them for the exchange. The confirmation letter
is wrong. The fee per Geoff Storey the trader is .145. This is also known
as a spread fee. If you have any questions, please feel free to call 3-7376.

Elizabeth L Hernandez
12/05/2000 03:09 PM
To: Phillip M Love/HOU/ECT@ECT
cc: Charles Jacobs/NA/Enron@Enron
Subject: Consumers Energy

You entered these deals in Sitara. Could you please get with Chuck Jacobs to
resolve this issue. Please see his e mail.
---------------------- Forwarded by Elizabeth L Hernandez/HOU/ECT on
12/05/2000 03:08 PM ---------------------------

From: Charles Jacobs @ ENRON 12/05/2000 12:59 PM

To: Elizabeth L Hernandez/HOU/ECT@ECT
Subject: Consumers Energy


Can you check out Deal #'s 411921 (Sale) and 411937 (Purchase)? Looks like a
buy/sell where we sold to Consumers Energy in October (1,000,000 total at
5.20) and bought it back from them in November. Both deals have 0 rates so
that's not a problem. The problem is - there's an exchange fee on both deals
of $0.0725. But it's a negative fee on the sales side and a positive fee on
the purchase side. That means I would owe them a netted amount of $145,000.
Is that right?? Should the sale side maybe be positive so the two sides net
to 0 - or do we owe them this money??
Also, the confirmation letter for the sales side mentions a "spread fee" to
be paid by Seller (ENA) of $155,000. Could that $145,000 netted amount be a
part of that? And if so, where's the other $10,000?

So many questions!! I have copies of the confirms if you need to see them.
Let me know...