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Enron Mail |
Attached are some initial thoughts for discussion on our call.Your views are
appreciated. Panel 1 WSPP and EEI At this point, I have seen materials from Bobby Campo. Andy has circulated to all. Bobby's presentation gives the background and evolution of the WSPP tariff/agreement. Bobby also provides his conclusions regarding the future of WSPP. Since we have seem Bobby's presentation, how should we structure the remainder of our presentation? Mike -- Since Bobby is giving a business flavor to the presentation, it may make sense for you to focus more on legal and regulatory elements. For example: what is WSPP's current regulatory status? How does that affect its use? How is it administered/modified etc?.What material changes have occurred to its terms over time? Where do you see it going? Liz/Harlan-- How do think you should approach this topic?.It seems to me that one obvious issue is the distinction between the a tariff based doc and a standardized bilateral agreement. Regional vs. nationwide also seems appropriate Further, I think a discussion of the evolution of the EEI agreement and some of the reasons for its development would be useful. For example, the lack of common bilateral credit provisions and product definitions in 1998-99.A discussion of documents like ISDA and other master trading agreements for physicals would also be useful. In addition, since Dynegy and Enron are major players, your firms perspective on trading documentation would be helpfull.Does EEI provide appropriate flexibility for use in varied markets?[[Bobby- can you speak for Mirant here- as you know, Mirant was an important contributor to the EEI contract].What document does Enron on-line use? Finally, I think Liz's pitch for the Master-Master may make sense in this context. Finally, I think we should leave some time for questions; to comment on one another's presenations;and , to provide some real world trading issues we have run into if appropriate. Panel 2 Let's make a deal There is a lot packed into this panel and I'm told many of our audience are not that sophisticated. I think we should approach this as a primer.I will volunteer to do thevfirst few slides and generally set up the context for contract specific discussions. How about Dede doing "set up"-- i.e. negotiating the cover sheet/elections and optional provisions-- Liz doing trading mechanics /oral transactions/confirmations/ and(her favorite) "into" and Fritz doing all other products. We can all chime in. Panel 3 Some of this panel will carry over from the previous panel. For this one, how about Andy doing the obligations to deliver/receive under the contract slide with Harlan describing some real world issues her has seem with delivery points or transmission.Harlan can then do the liquidated damages and force majeure slides (setting things up in theory). Fritz can bat clean-up with run through of the examples. Of course, we can all chime in.
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