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Enron Mail |
Cc: john.lavorato@enron.com, rob.milnthorp@enron.com, frank.vickers@enron.com,
a..gomez@enron.com, kevin.heal@enron.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: john.lavorato@enron.com, rob.milnthorp@enron.com, frank.vickers@enron.com, a..gomez@enron.com, kevin.heal@enron.com X-From: Concannon, Ruth </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=79797E41-C2047BB5-8625647D-5EF92D< X-To: Donahue, Jeff </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=BE0D9DB9-5879E0B3-882569B9-78E4E5<, Detmering, Timothy J. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=TDETMER<, Ward, Charles </O=ENRON/OU=NA/CN=RECIPIENTS/CN=CWARD3<, Busby, Todd </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=601816F5-93F2FF77-862568B6-7B9B48<, Shively, Hunter S. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=HSHIVEL<, Storey, Geoff </O=ENRON/OU=NA/CN=RECIPIENTS/CN=GSTOREY<, McMichael, Ed </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=471F1DA1-6A4591A9-862564AD-624FB3<, Tweed, Sheila </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=D53C9B37-C4467B8D-862564F3-5440C9<, Mellencamp, Lisa </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=AA88371D-DD9548A2-8625670C-72AE70<, Dicarlo, Louis </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=2F76C708-591A053C-8625699E-6DC852< X-cc: Lavorato, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=JLAVORA<, Milnthorp, Rob </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=3D1BEA6C-BBB6D3E2-862564CF-2525D4<, Vickers, Frank </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=2A1CEEC1-710D13DC-862569C9-60E93E<, Gomez, Julie A. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=JGOMEZ<, Heal, Kevin </O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=68407D9-C8DF8980-862564CF-248E85< X-bcc: X-Folder: \ExMerge - Storey, Geoff\TCPL X-Origin: STOREY-G X-FileName: geoff storey 6-26-02.PST At the request of the NEB, TransCanada has sent out a notice to shippers and interested parties for comments on TCPL's application addressing the proposed Mainline Services and Pricing Settlement. They are also requesting comments on "the need for and the nature of a further process to consider the Application". Comments must be filed by Wednesday, May 23,2001. Kevin Heal from our Calgary Office, represented Enron in the Settlement discussions. Enron elected to abstain when the vote was taken to approve the Settlement. Sithe/Independence voted to oppose and litigate the Settlement. To maximize the value of the Sithe/Independence TCPL capacity (i.e. St. Clair to Chippawa & Kirkwall to Chippawa contracts), it is very important that Sithe continue to actively participate in the NEB's regulatory process and file comments by the deadline. Behind the scenes, I recommend that we work with Sithe's legal counsel to coordinate a response to this request in case this capacity is assigned to Enron at a later date. I also recommend that Enron either change our earlier position from abstention to opposition of the Settlement, or combine the Empress to Chippawa contract that is dedicated to the Sithe/Independence deal with Sithe's other capacity. Kevin has provided the attached information of the other Toll Task Force members that voted to abstain, oppose, or oppose and litigate the Settlement. It appears that most of the marketers, cogens and IPP's fall in this camp. There are several features to the Settlement that may create additional value that has not yet been captured in our restructuring analysis. I believe that only by taking an aggressive stand in the regulatory process, can this additional value be realized. TCPL's "FT Make-Up" and "AOS" features will create additional value for 2001 and 2002. The "Turnback Procedure" is designed to mitigate actual costs of TCPL's proposed Waddington and Niagara expansions. If some, or all of Sithe's capacity can be turned back to the pipeline, value may be created starting in late 2002 and possibly through the termination of Sithe's contracts. If there is any other information needed or I can assist in any way, please call me at x31667. Ruth
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