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Enron Mail |
Jo?o
Congratulations for you enlightening participation at todays' meeting with generators to rebuff Annex V arguments. For the first time in two years I have seen the "underdogs" distributors beating the powerful generators. The performance reminded me the Brazil 4 x Italy 1, June 21, 1970 final world cup soccer match. Let's not give up. Luiz Maurer 05/24/2001 07:02 PM To: Joao Carlos Albuquerque/SA/Enron@Enron cc: Joe Kishkill/SA/Enron@Enron, David M Rosenberg/SA/Enron@Enron, Fred Sampaio/SA/Enron@Enron, Orlando Gonzalez/SA/Enron@Enron, Sergio Assad/SA/Enron@Enron, Britaldo Soares/SA/Enron@Enron, Brett R Wiggs/SA/Enron@Enron, Remi Collonges/SA/Enron@Enron Subject: Re: CAP no MAE Joao I know we are all in the same boat. We share the same ideas as well. The only difference is perhaps the approach. I am kind of skeptical of negotiating with those guys. COEX has been a two year failure in terms of consensus building. Where has consensus led us? Nowhere. After some point, it is worthless discussing with those guys. (I know that you have been standing and fighting) You are probably right when you say I am being radical . Given my skepticism, I think there are only two ways: (i) going straight to Pedro Parente (ii) or, a big splash in the media. (because we have a coherent story, there are always many reporters willing to listen to us; I think we should not be afraid of putting a stick on the ground, as necessary) I know that Mario Arce got upset with me and I did not mean it. However, he has to know that if he comes up with some "pre-cooked" crazy ideas (Kill Annex V, caps on spot) he will have to face the "discipline" of the media. He (or any other) has to know that we will do whatever is necessary to get our ideas across. It is a war. No time for consensus building or for being the nice guy. They are writing new laws as we speak. There is a strong sense of urgency. It is a make it or break it situation. This is my modest view only. LM Joao Carlos Albuquerque 05/23/2001 09:05 PM To: Joe Kishkill/SA/Enron@Enron, David M Rosenberg/SA/Enron@Enron, Luiz Maurer/SA/Enron@Enron, Fred Sampaio/SA/Enron@Enron cc: Orlando Gonzalez/SA/Enron@Enron, Sergio Assad/SA/Enron@Enron, Fred Sampaio/SA/Enron@Enron, Britaldo Soares/SA/Enron@Enron, Brett R Wiggs/SA/Enron@Enron, Remi Collonges/SA/Enron@Enron Subject: Re: CAP no MAE David and Luiz, Please don't be radical and don't put words when you do not know what is going on. Some important players and people are supporting a very low cap: some 320 reais or even less (320 is in one of the Generators proposal). I was the one fighting in all meetings I had, last and this week, standing up in front of everybody, supporting NO CAP AT ALL. What I tried to share with you was a second line of defence Plan B type. So don't think you are the only paladins of the market. We are fighting hard for ENRON's positions, in the real word, and working very hard, believe me. thanks, Jo?o Carlos Joe Kishkill 05/22/2001 08:39 AM To: Orlando Gonzalez, Joao Carlos Albuquerque/SA/Enron@Enron cc: Subject: Re: CAP no MAE Got the info late, but... I also can not see how we can even consider supporting price caps. If they come, they come. Politica are a reality. But we should not support them or even hint at encouraging them. If we are thinking about doing so, please let me know because I strongly object. Thanks, Kish ---------------------- Forwarded by Joe Kishkill/SA/Enron on 05/22/2001 08:36 AM --------------------------- David M Rosenberg 05/21/2001 10:40 AM To: Joe Kishkill/SA/Enron@Enron cc: Subject: Re: CAP no MAE FYI. I just noticed that you weren't in this chain. ---------------------- Forwarded by David M Rosenberg/SA/Enron on 21/05/2001 10:44 --------------------------- David M Rosenberg 21/05/2001 10:20 To: Luiz Maurer/SA/Enron@Enron cc: Joao Carlos Albuquerque/SA/Enron@Enron, Orlando Gonzalez/SA/Enron@Enron, Sergio Assad/SA/Enron@Enron, Fred Sampaio/SA/Enron@Enron, Britaldo Soares/SA/Enron@Enron, Brett R Wiggs/SA/Enron@Enron, Remi Collonges/SA/Enron@Enron Subject: Re: CAP no MAE Luiz, Thanks again for maintaining a voice of sanity. In my not so humble opinion, it is commercial suicide for us to even give the appearance of supporting price caps. I can't think of any other situation anywhere in the world where Enron has supported price caps in a market. To the contrary, we are almost always public in our opposition to such market-killing sophistry. Consensus is a noble objective, but sometimes it is just better to let people know your true opinion. --DMR Luiz Maurer 20/05/2001 23:16 To: Joao Carlos Albuquerque/SA/Enron@Enron cc: Orlando Gonzalez/SA/Enron@Enron, Sergio Assad/SA/Enron@Enron, Fred Sampaio/SA/Enron@Enron, Britaldo Soares/SA/Enron@Enron, Brett R Wiggs/SA/Enron@Enron, Remi Collonges/SA/Enron@Enron, David M Rosenberg/SA/Enron@Enron Subject: Re: CAP no MAE I strongly disagree "If it is impossible to reach an agreement within ABRADEE",, then we should be loud an clear in expressing our own view, to all levels of government including a position paper to Pedro Parente asap. Caps at this point in time may jeopardize the rationing plan per se. We had a victory in anchoring the penalties to the MAE price. Why surrender it now? Why do we have to abide by ABRADEE's desires? This is not a religious issue only. There are a few US$ million left on the table. How many US$ million are on the table for Enron? - Ballpark, possibly US$20f or Elektro's long position (60 in EBITDA * (680-460)/680) - A lot, lot more for Eletrobolt (perhaps to the point of killing the project, as Joao Albuquerque stated) Are we being consistent? About a week ago, we submitted our views to ANEEL, on Public Hearing 02/2001, advocating for an increase in the cost of defict to US$ 2350/MWh. The trading group (Remi, David) were adamant about this position submitted by Regulatory Affairs (I think they are right) Are we acting to the best interest of our shareholders? LM Joao Carlos Albuquerque 05/20/2001 11:40 AM To: jmazon@elektro.com.br, Orlando Gonzalez/SA/Enron@Enron, Sergio Assad/SA/Enron@Enron, Luiz Maurer/SA/Enron@Enron, Fred Sampaio/SA/Enron@Enron cc: Britaldo Soares/SA/Enron@Enron, Brett R Wiggs/SA/Enron@Enron Subject: CAP no MAE Algumas empresas de distribui??o short em 02 e 03 est?o defendendo fortememte CAP no MAE, bem abaixo do custo do d,ficit ( cerca de R$ 680). ( CERJ, Cataguases, LIght est? em cima do muro, etc...) Se for inevit?vel, nossa posi??o deve ser: - N?O PODE SER INFERIOR AO PRE_O PRATICADO NO PRE-RACIONAMENTO ( R$ 460,00 ) - N?O PODE SER INFERIOR ? MAIOR TARIFA COBRADA DOS CONSUMIDORES ( TROS VEZES A TARIFA RESIDENCIAL ATUAL - 200% SOBRE A MESMA, PARA CONSUMOS ACIMA DE 500 KWh POR MOS) . Mazzon, calcule a ordem de grandeza deste valor. _ importante termos isto em mente quando formos falar com as autoridades amanh? e, em especial com Mauro Arce. Lembrar, ainda, que um CAP baixo, sem FLOOR, pode matar ELETROBOLT, uma vez que as receitas que esta auferiria em 2002 n?o compensariam o decr,scimo das mesmas de 2003 em diante, quando, com a redu??o de mercado devido ao racionamento e o aumento de entrada de novas fontes de gera??o, tamb,m incentivada pelo racionamento, poder? derrubar fortemente os pre?os do MAE. N?o devemos nos esquecer que o per?odo de amortiza??o de ELETROBOLT , de cinco anos. Jo?o Carlos
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