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Enron Mail |
Thought you might find this interesting, in some sick way!
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/13/2001 11:52 AM --------------------------- "Boyd J. Springer" <bjspringer@JonesDay.com< on 03/13/2001 09:48:38 AM To: gregg.penman@enron.com, kay.mann@enron.com cc: Subject: Master Sales Jerry Fox called to tell me that a decision has been made to by Peoples to withdraw the Petitions for Approval of the PGL and North Shore Master Sales Agreements. Jerry says this has been discussed with Enron. According to Jerry, the intent is to proceed with some of the transactions contemplated by the Agreement under exceptions to the affilliated interest approval requirements. (As you may recall, we discussed the possibility that some PGL/North Shore-enovate transactions may be expempt from the approval requirement before the Peitition was filed. ) At this early stage of the approval filing, the ICC Staff has not submitted testimony explaining its opposition to approval. From the Staff's data requests, however, it appears that they are not convinced that there is sufficient customer (i.e., public) benefit from establishing a contract between a utility and an affiliated entity to perform the transactions contemplated by the Master Sales Agreement when Peoples/North Shore acknowledge in the Petition that there are other contracts in place with non-affiliates to perfrom the same type of transactions. The Petition takes the position that the contract with enovate is beneficial in the same respect that each non-affiliate contract has benefit. ICC Staff (apparently) feels that the incremental benefit of one more contract is not enough to offset perceived risks associated with blanket approval of affilliate transactions under the Agreement. It may be possible persuade staff to change its position if we can show that the agreement with enovate will have a more significant effec on PGL/Noth Shore that one of the non-affiliate agreements. In other words, evidence of something unique or special about what enovate brings to the table is what could turn this around (if you are interested in doing so.) . Please call with any questions you may have. ========== The preceding e-mail message (including any attachments) contains information that may be confidential, be protected by the attorney-client or other applicable privileges, or constitute non-public information. It is intended to be conveyed only to the designated recipient(s). If you are not an intended recipient of this message, please notify the sender by replying to this message and then delete it from your system. Use, dissemination, distribution, or reproduction of this message by unintended recipients is not authorized and may be unlawful. ==========
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