Message-ID: <26129360.1075854530835.JavaMail.evans@thyme> Date: Thu, 1 Feb 2001 04:37:00 -0800 (PST) From: david.delainey@enron.com To: john.lavorato@enron.com, janet.dietrich@enron.com, kevin.presto@enron.com Subject: Re: Draft DASH for CMP Standard Offer Deal Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: David W Delainey X-To: John J Lavorato, Janet R Dietrich, Kevin M Presto X-cc: X-bcc: X-Folder: \David_Delainey_Jun2001\Notes Folders\Discussion threads X-Origin: Delainey-D X-FileName: ddelain.nsf Guys, do we have enough VAR to bring this position into the book? If over $5M in total exposure it has to go to Frevert/Whalley. John, I assume that you have gone through the transaction and have approved. Regards Delainey ---------------------- Forwarded by David W Delainey/HOU/ECT on 02/01/2001 12:20 PM --------------------------- Janice R Moore 02/01/2001 09:06 AM To: Janet R Dietrich/HOU/ECT@ECT cc: Berney C Aucoin/HOU/ECT@ECT, Daniel Allegretti/NA/Enron@Enron, David Gorte/HOU/ECT@ECT, David V Porter/PDX/ECT@ECT, David W Delainey/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Frank Hayden/Corp/Enron@Enron, George Wood/Corp/Enron@Enron, Jeffery Ader/HOU/ECT@ECT, Jim Meyn/NA/Enron@Enron, John J Lavorato/Enron@EnronXGate, John Llodra/Corp/Enron@ENRON, Kevin M Presto/HOU/ECT@ECT, LaCrecia Davenport/Corp/Enron@Enron, Mark Dana Davis/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Rick Buy/HOU/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, Zachary Sampson/NA/Enron@ENRON, Janette Elbertson/HOU/ECT@ECT Subject: Re: Draft DASH for CMP Standard Offer Deal And here's the risk memo on this deal. Still in draft form and based on the state of play at the moment. Regards, Janice EB3861 Assistant General Counsel, Enron North America Corp. 713-853-1794 (Fax: 713-646-4842) Janet R Dietrich 01/31/2001 04:34 PM To: John Llodra/Corp/Enron@ENRON cc: Jeffery Ader/HOU/ECT@ECT, George Wood/Corp/Enron@Enron, Kevin M Presto/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT, Jim Meyn/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Daniel Allegretti/NA/Enron@Enron, David W Delainey/HOU/ECT@ECT, John J Lavorato/Corp/Enron, David V Porter/PDX/ECT@ECT, Rick Buy/HOU/ECT@ECT, David Gorte/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Frank Hayden/Corp/Enron@Enron, LaCrecia Davenport/Corp/Enron@Enron, Zachary Sampson/NA/Enron@ENRON, Tracy Ngo/PDX/ECT@ECT Subject: Draft DASH for CMP Standard Offer Deal John, thanks for the update. I sat down with John Lavorato and Dana Davis this morning to review the deal and get John's approval under the current terms. He has approved the deal in it's current form however, to the extent that we have any material change in the terms I'll need to be sure he's OK with the changes in advance of any binding committment with Central Maine. This is definitely a deal we want to do and given the anticipated acceleration in the negotiations and possible execution, we need to be sure that we're able to react and transact quickly. Dana Davis is obviously on point for all pricing. For all others who have involvement here - please ensure that you're on board with your piece of the deal as is, and available to focus on any negotiated changes that may come up over the next couple of days. Berney Aucoin will be on point for coordinating and managing all internal pricing, approvals, etc., so be sure that Bernie can get ahold of you if he needs to. Also, for the DASH signatures, why don't you move both Kevin and I to "Regional Management" and let Ader and Davis sign for Origination and Trading. Thanks and good luck! ---------------------- Forwarded by Janet R Dietrich/HOU/ECT on 01/31/2001 03:51 PM --------------------------- John Llodra@ENRON 01/31/2001 11:50 AM To: Jeffery Ader/HOU/ECT@ECT, George Wood/Corp/Enron@Enron, Kevin M Presto/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT, Jim Meyn/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Daniel Allegretti/NA/Enron@Enron, David W Delainey/HOU/ECT@ECT, John J Lavorato/Corp/Enron, Janet R Dietrich/HOU/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON, Rick Buy/HOU/ECT@ECT, David Gorte/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Frank Hayden/Corp/Enron@Enron, LaCrecia Davenport/Corp/Enron@Enron, Zachary Sampson/NA/Enron@ENRON, Tracy Ngo/PDX/ECT@ECT cc: Subject: Draft DASH for CMP Standard Offer Deal All: As some of you may be aware, we are in the process of negotiating with Central Maine Power Company regarding the assumption of a portion of their wholesale obligations associated with their Standard Offer Service load in the State of Maine, covering at least March 1, 2001 - Feb 28, 2002. We are currently in the process of negotiating a contract and transaction terms. They are simultaneously discussing same with other suppliers. At this point, there are a number of outstanding items (including numerous contract items and credit arrangements). However, we expect that the pace of the negotiation process will be very quick over the next 1-3 days. As an example of how quickly things might move, CMP has indicated that the Maine PUC is poised to hold deliberations and approve CMP's signing of a contract within 24 hours of CMP/Enron agreement on contract terms (with updated firm pricing to be supplied just prior to PUC deliberations and held open for about 2-3 hours). Key members of our negotiating team on this deal are as follows: Origination/Marketing: John Llodra, George Wood Legal: Janice Moore Regulatory/Governmental: Daniel Allegretti Commodity Structuring: Jim Meyn, Zach Sampson Credit: Edward Sacks, Tracy Ngo Attached below is a draft of the DASH for this prospective deal. Items subject to change or still under negotiation are noted. While this DASH is prepared assuming we obtain a multi-year extension swaption, there is a chance it may end up being a single year deal for the period Mar 1, 01- Feb 28, 02. My intent in sending the DASH at this time is to familiarize you all with the aspects of the deal at this point in time, to enable us to move quickly to get internal approvals in the event we reach final agreement with CMP over the next couple of days. Once agreement is reached with CMP on outstanding items, a revised DASH will be circulated. Please feel free to call me at 978-449-9936, or Jim Meyn/Berney Aucoin in structuring (5-3223, 3-4784) if you have any questions on the commercial structure or valuation to date. Thanks. Regards John