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Enron Mail |
Jeff
FYI ---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 05/24/99 01:59 PM --------------------------- Enron Capital & Trade Resources Corp. From: pgraff@reliantenergy.com 05/24/99 10:46 AM To: sonnet.edmonds@southernenergy.com, mroger3@entergy.com, vincent.duane@southernenergy.com, jjarvis@pcenergy.com, Elizabeth Sager/HOU/ECT, phjones@duke-energy.com, hemu@dynegy.com, cowanm@pge-texas.com cc: Subject: ERCOT As you may know, a group has been convened to develop an industry contract to trade gas. The group is called GISB-Canada and as the name suggests, they intend to use the GISB gas contract as the Base Agreement and to modify the language to make it applicable in Canada. At first, they were just going to change language like "MMBtu" to "joule"; "jurisdiction" to "province"; and reference a Canadian Bank interest rate rather than the Wall Street Journal. They were going to stay away from what they deemed "substantive" changes. I have asked them to reconsider this decision and to take the opportunity to "update" the GISB, hopefully, in a manner that could be used cross-border. I have explained that most of our counterparties supplement the GISB with their own Special Provisions and we could use these supplements as a starting point for creating an Industry Standard GISB "update" that could be used cross-border. In this regard, would you please send me a copy of your company's Special Provisions so that I can forward them to Ian Anderson in Canada. Also, would you please put me in touch with someone in your organization that might be interested in participating in this effort. I think it would be very helpful for the Canadians to hear about our experience with GISB and gas trading in general in developing an Industry Standard Contract. The next meeting in Canada is this Wednesday at 12:00 p.m. (Houston Time) and again on June 26. I would like to send them something to consider prior to the June 26 meeting. Thank you so much for your help on this. Dede Russo
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