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Enron Mail |
This is a Llodra deal to be closed by 12/31, which he sent to me and to Shari
(I think she's travelling today?). It's supposed to be a physical exchange of the capacity and output among several NEPOOL nukes in which we and Select own various % entitlements (Seabrook, Pilgrim, Millstone 2 and 3). I gather it's "at par", since there's no real pricing or $ changing hands unless a party defaults. We seem to have a unilateral sale and unilateral purchase agrement w/ Select -- David's counterparty -- don't know whether that will cause risk problems. Who should work on this? Regards, Janice EB3861 Assistant General Counsel, Enron North America Corp. 713-853-1794 (Fax: 713-646-4842) ----- Forwarded by Janice R Moore/HOU/ECT on 12/11/2000 11:20 AM ----- John Llodra@ENRON 12/11/2000 11:07 AM To: Mark Dana Davis/HOU/ECT@ECT, Paul J Broderick/HOU/ECT@ECT, Edward Sacks/Corp/Enron@Enron, Tracy Ngo/PDX/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT cc: George Wood/Corp/Enron@Enron Subject: Nuclear diversity swap with Select Energy All: Attached is a first draft of a term sheet covering a nuclear diversity swap between us and Select Energy. Dana/Paul -- please give me your thoughts on this, particularly as relates to the 15-day outage trigger that would put this agreement on hold until any unit that is experiencing an ouage < 15 Business Days returns to service. From a risk mitigation standpoint, I think we are well off in that we are diversifying one unit with two replacement units (actually three since I am proposing Mill 2 for Jan-Mar and then Mill 3 for balance of the year). Ed/Tracy -- what credit issues if any do you see, keeping in mind that the contemplated nuke exchanges would be on a unit contingent basis. Janice/Shari -- any legal comments or issues? Please call or email me to discuss. I am out tomorrow PM and traveling all day Wednesday. I'd like to push this forward rather quickly so we can work things out quick enough for this to be effective 1/1/01. Thanks!! John
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