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Enron Mail |
I spoke to Andrea and she said that the commercial guys were taking care of
this issue. This came up because during my trip a week and a half ago I suggested they let Houston know about the deal so that no one was surprised when the deal was executed. They are trying to close the deal by the end of the month. I am not sure if they can pull everything together in time. Additionally Diomedes told them that he does not want Electro buying the power but wants a free customer of Electro buying the power which just complicates things even further. Do you have a time frame for when you can come to Brazil yet? Let me know when you do and Andrea Bertone will check on the availability of Jose Emilio Pinto and Luis Mauer to spend some time with us. Talk to you later. ---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on 28/07/99 12:53 PM --------------------------- From: Patricia Cini@ECT on 28/07/99 10:41 AM CDT To: Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Brazil Transaction FYI- See the trasaction they are looking at below and Sue's response to their ability to move forward. Regards, Pat ---------------------- Forwarded by Patricia Cini/HOU/ECT on 07/28/99 10:40 AM --------------------------- From: Sue Frusco AT ENRON_DEVELOPMENT@CCMAIL on 07/28/99 02:03 PM To: "Andrea Bertone/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL, "Don Black/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL, "Marcelo Parodi/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL, "D'Arcy Carroll/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL, "Gustavo Junqueira/ENRON_DEVELOPMENT" AT ENRON_DEVELOPMENT@CCMAIL cc: Patricia Cini@ECT, Ted Murphy@ECT Subject: Brazil Transaction Hey guys, I hate to be the bearer of bad news, but I just checked with Ted Murphy and there is no authorization in place for trading transactions in Brazil. This is pretty serious, and I suggest that someone call Ted (x33324) prior to execution to explain the deal and work through issues. I know that Don had written a trading authorization memo, but since Ted has not seen it, I assume that in the frenzy of business, it was not submitted. The submission of an authorization memo to Ted for Rick Buy's and Jeff Skilling's execution is standard practice and required prior to entering a new market. This is an interim step prior to going to the Enron Board for formal approval of trading limits. I understand that Don is in Houston on vacation and I'm trying to track him down. Sue ---------------------- Forwarded by Sue Frusco/ENRON_DEVELOPMENT on 07/28/99 07:18 AM --------------------------- From: Patricia Cini@ECT on 07/26/99 05:33 PM To: Sue Frusco/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William S Bradford/HOU/ECT@ECT cc: Subject: Brazil Transaction FYI- Brazil is starting up it looks like although they still have some regulatory issues that need to be resolved before we will see alot of transactions. I am going to ask the attorney in Sao Paulo, Andrea Bertoni, to summarize the regulatory issues just so we can understand this market better. The transaction below is what they are looking at for the time being. Although I do not see large credit issues with this specific transaction, I am going to forward a memo that Julio and I wrote that outlines the credit procedures that need to be followed. Regards, Pat ---------------------- Forwarded by Patricia Cini/HOU/ECT on 07/26/99 05:26 PM --------------------------- Claudia Brun@ENRON_DEVELOPMENT 07/23/99 02:56 PM To: Patricia Cini@ENRON_DEVELOPMENT cc: Andrea Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marcelo Parodi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, D'Arcy Carroll/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gustavo Junqueira/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject: Brazil Transaction Pat, Per our conversation today, Enron Comercializadora de Energia Ltda (Enron's entity which is authorized to trade in Brazil) is negotiating its first transaction. The details of the transaction are as follows: BUY SIDE Counterparties: Companhia A?ucareira Companhia Energ,tica Vale do Ros?rio Santa Elisa Location: Morro Agudo, S?o Sert?ozinho, S?o Paulo Paulo Type of Energy Interruptible Interruptible Contracted: Contracted Amounts: Up to 1.5 MW Up to 1.5 MW Contractual Period: Aug 1 - Nov 30, 1999 Aug 1 - Nov 30, 1999 Contracted Tariff: R$ 18.50/MWh less R$ 18.50/MWh less transmission costs transmission (estimated at: R$ (estimated at: R$ 2/MWh) 2/MWh) Total Contractual R$ 72,468 or US$ R$ 72,468 or US$ Obligations 40,260 40,260 SELL SIDE |--------------------------------------------------< |Counterparties: | |--------------------------------------------------< <--------------------------------------------------| |Elektro Eletricidade e Servi?os S.A. (99.6% owned | |by Enron) | <--------------------------------------------------| |--------------------------------------------------< |Location: | |--------------------------------------------------< <--------------------------------------------------| |S?o Paulo | <--------------------------------------------------| |--------------------------------------------------< |Type of Energy Contracted: | |--------------------------------------------------< <--------------------------------------------------| |Interruptible | <--------------------------------------------------| |--------------------------------------------------< |Contracted Amounts: | |--------------------------------------------------< <--------------------------------------------------| |Up to 3.0 MW | <--------------------------------------------------| |--------------------------------------------------< |Contractual Period: | |--------------------------------------------------< <--------------------------------------------------| |Aug 1 - Nov 30, 1999 | <--------------------------------------------------| |--------------------------------------------------< |Contracted Tariff: | |--------------------------------------------------< <--------------------------------------------------| |R$ 27/MWh | <--------------------------------------------------| |--------------------------------------------------< |Total Contractual Obligations | |--------------------------------------------------< <--------------------------------------------------| |R$ 237,168 or US$ 131,760 | <--------------------------------------------------| Feel free to contact us if you need further information. Claudia
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