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Enron Mail |
BUSINESS HIGHLIGHTS
East Power Group Enron Power Marketing, Inc. (EPMI) and Enron Wind Corporation (EWC) have=20 joined forces in a deal that combines the expertise of both Enron=20 subsidiaries. EWC is developing the Indian Mesa Wind Farm in Pecos County,= =20 TX. EPMI has agreed to purchase 135 MW of bundled capacity, energy and=20 Renewable Energy Credits (=01&REC=01,s=018) from the Facility for a fixed-p= rice over a=20 twenty-year term. Energy Capital Resources (ECR) ECR has been very active in the past few months. On December 31st, the=20 Brazos facility was closed to fund volumetric production payments (VPPs) of= f=20 balance sheet. Kudos to Tim Proffit, Shirley Hudler, Teresa Bushman, Jesus= =20 Melendrez, Chris Herron, Brian Otis, Mary Cook, Joan Quick and Nora Dobin f= or=20 their efforts in closing the first $150 million of what is expected to be a= =20 $250 million facility. To date, ECR has placed a total of $82 million in= =20 three separate VPP transactions into Brazos. The present deal pipeline for= =20 VPP's exceeds $500 million. Producers are interested in the VPP's because= =20 ECR utilizes the forward price curves to determine the advance amounts,=20 whereas the banks use their own projections of prices. ECR hedges commodit= y=20 price and interest rate risks at closing. The VPP with Preston Exploration= =20 also led to an outsourcing transaction with ENA's Upstream Products group. Middle Marketing Business Highlights A major airline has hedged 2,050,000 Barrels of Heating Oil through the=20 summer months.=20 If you would like to access Mark Smith's daily commentary on Natural Gas,= =20 Crude and Refined Products, logon to the Gas Fundamentals site=20 http://gasfundy.corp.enron.com/gas/framework/default.asp under publications= =20 then click on "The Mark Report". If you need assistance logging on, pleas= e=20 contact Mark Smith, manager in the Middle Marketing group, at=20 Mark.Smith@enron.com. UPCOMING EVENTS The Middle Marketing desk is scheduling Energy Risk Management seminars in= =20 Atlanta, Houston, New York and Chicago; firm dates will be announced soon. = =20 If you have customers in the area interested in attending, please contact= =20 Lucy Ortiz at 713.853.3238. IN THE NEWS What do Enron, Compaq, Continental Airlines and JPMorgan/Chase Bank know th= at=20 the city of Houston doesn't? They know that in order to attract top talent,= =20 they must stay competitive and current in the employment market. =20 Domestic-partner benefits are a reality for those companies looking up towa= rd=20 the future and down at the bottom line.=20 Does anyone really think these companies would be offering these benefits i= f=20 they weren't cost effective and in the companies' best interests? -- Houst= on=20 Chronicle (02/11/2001). WELCOME New Hires EGM - Kyle Berryman/Weather Trading, Carla Murphy/Operational Accounting EIM - Elizabeth Hutchinson/Fundamental Analysis ENA - Bryant Frihart/Origination Enovate, Lea Sooter/Public Relations ENRONONLINE STATISTICS Below are figures for EnronOnline as of February 9, 2001. * Total Life to Date Transactions < 670,000 * Life to Date Notional Value of Transactions < $410 billion NUGGETS & NOTES =01&Who took the last Twix out of the candy jar?=018 - Andrea Reed, Vice Pr= esident=20 /Fundamental Analysis-EIM "I'm having an out of body experience..." - Scott Josey, Vice President &= =20 Co-Manager/Energy Capital Resources-EA NEWS FROM THE GLOBAL FLASH UK Origination Team Closes First Deal Under NETA Congratulations to the UK Origination team for closing their first=20 transaction under NETA and the first long-term customer contract to be sign= ed=20 under NETA terms. On 7th February, the team signed a 10-year electricity= =20 supply contract with the Manx Electricity Authority, making Enron the sole= =20 supplier of the Isle of Man's (IOM) electricity requirements over the next= =20 decade. In addition to providing power to the inhabitants of the IOM, Enro= n=20 will contractually manage the IOM interconnector and all generation to the= =20 IOM. Enron Direct Expanding Customer Service Operations Enron Direct continues to go from strength to strength, and as a result of= =20 continued growth, is expanding its customer operations to Teesside, creatin= g=20 46 new jobs. Enron Direct will be setting up a new customer service center= =20 at the ETOL administration building on the Wilton International site. The n= ew=20 center is scheduled to open in April and will support Enron Direct's existi= ng=20 call center and customer service operations in Oxford. The 46 new employees= =20 will be recruited locally. Enron Credit Enron Credit announces the closure of its largest European Digital Bankrupt= cy=20 Swap (DBS) transaction to date with a new counterparty. In addition to=20 detailed information on the DBS, registration on the web site=20 (https://www.enroncredit.com/members/join.asp) provides access to weekly=20 Bankruptcy Blasts covering current credit risk topics.=20 Register today on www.enroncredit.com and take a look at how some of your o= wn=20 counterparties may be performing! LEGAL STUFF The information contained in this newsletter is confidential and proprietar= y=20 to Enron Corp. and its subsidiaries. It is intended for internal use only= =20 and should not be disclosed.
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