From: Balfour-Flanagan, Cyndie
Sent: Thursday, July 19, 2001 11:46 AM
To: Wallumrod, Ellen; Hernandez, Elizabeth L.
Cc: Dickson, Stacy E.; Hodge, Jeffrey T.; Baxter, Bryce; Anderson, Bridgette; Bryan, Linda S.; Campos, Sylvia A.; Elledge, Susan; Gonzales, Sharon; Hilliard, Marlene; Landau, Georgi; Richardson, Stacey
Subject: CES Deals
I know that the confusion around CES seems to linger without hope of ever going away. Well, there may be light at the end of this seemly never ending tunnel.
We are in the process of terminating non-assigned CES contracts. This due to the fact that ENA is not party to these agreements & are only acting as agent on behalf of CES, in short - - - - "We are not CES". We don not want to be CES, we are Enron North America Corp. [BE ENRON PROUD :o)]
Based on this. New deals should not be negotiated or entered into Sitara as CES - [Counterparty] and CES deals should not be extended. If negotiations or customer relationships are ongoing with these "CES - counterparties" they should either return consent on the CES agreement or have a new ENA agreement put in place and then managed as ENA, not CES.
Within the next week, all CES - contracts (those for which ENA has not received consent) will be suspended in Global and therefore not available to Sitara. Unify will be able to continue to settle any existing deals under CES; but Sitara will not allow a deal to be amended and reconnected to the CES contract without prior coordination (and approval of legal where deemed applicable). Furthermore, we will not be generating GTC under CES to create a Sitara record for the CES deal to connect to.
Desk changes & deal corrections may continue where appropriate, but again, there will need to be prior coordination with the Global Contracts group. Corrections, do not mean deal extensions or deal roll-overs or new deals.
This information has been confirmed & the intent approved by legal. The reason for this again is - - - - "We are not CES" and these deals need to be moved off of the CES books and onto ours if the negotiations and relationships with the counterparty are ongoing.
If you have any questions please feel free to contact me at 713-853-1443 or you may also contact Stacy Dickson or Jeff Hodge in legal.