Message-ID: <11818464.1075845015225.JavaMail.evans@thyme> Date: Wed, 22 Nov 2000 05:17:00 -0800 (PST) From: mark.haedicke@enron.com To: jeffrey.hodge@enron.com Subject: Year 2000 - Accomplishments Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Mark E Haedicke X-To: Jeffrey T Hodge X-cc: X-bcc: X-Folder: \Mark_Haedicke_Oct2001\Notes Folders\All documents X-Origin: HAEDICKE-M X-FileName: mhaedic.nsf Jeff, will you coordinate with Peter for the legal PRC in getting all the info on the Cd lawyers so you and I can represent them at the PRC. ----- Forwarded by Mark E Haedicke/HOU/ECT on 11/22/2000 01:14 PM ----- Chris Gaffney 11/17/2000 07:32 AM To: Peter Keohane/CAL/ECT@ECT cc: Mark E Haedicke/HOU/ECT@ECT Subject: Year 2000 - Accomplishments Peter - Some time ago you suggested that at year end review time I should provide you with a list of significant accomplishments. The following is such list: January through June with ENA NSTAR All RequirementsTransaction - While similar in structure to the United Illuminating transaction, the NSTAR deal provided challenge in that it came together in a very accelerated time frame. We did not have the luxury of 6 months of negotiations as we did in UI. We essentially structured and executed a deal in less than 3 weeks. It was also a challenge in that I had no experience working with these particular clients (Kevin Presto, Dana Davis, Ed Baughman and John Llodra of East Power Trading/Mid Markets. Another significant hurdle was the education process of the utility and its attorneys which was essential to get them comfortable with the complexities of an all requirements trading document. Consolidated Edison Turbine deal - This transaction was blown up at the eleventh hour, it was another challenging deal which required a creative structure to flip turbines into a project and take back a call on power. Again the education of the utility and structuring of the transaction made this particular deal difficult. July through November with ECC Sunoco structured power transaction - This was the first project I worked on in the Toronto office and was the first back to back transaction completed off of the British Energy PPA. While the Calgary lawyers had put together a very good back to back precedent, there was still a great deal of negotiation involved in completing the deal and complexity involved in maintaining the requisite back to back transaction. G-6 structured transaction - This deal just (as of 40 minutes ago) blew up. Notwithstanding that the deal will not be completed, it was a very complicated deal which involved a highly negotiated services agreement, arrangements for ECC to take initial equity and an option for additional equity and trading documentation. This project required negotiating with 6 municipal electric utilities who were trying to set up a retail affiliate to market power in Ontario. The structure would have ECC as a risk management and settlement services provider in exchange for being the exclusive wholesale supplier of energy to the G-6. This involved mitigating and structuring around a myriad of legal issues. TransCanada structured power transaction - This was another back to back transaction off of the British Energy position. These deal was challenging in that it involved a more sophisticated counterparty who had certain idiosyncratic issues such as regulatory risk and credit. We were able to structure a deal which balanced the parties competing interests and maintained the commercial value of the transaction for Enron. OEFC Non-Utility Generation Contract Management - We have just recently been awarded the project and have begun negotiations with OEFC regarding management of the NUG contracts. However, the teamwork exhibited among legal and commercial and between the Toronto and Calgary legal and commercial groups showed how effective the ECC operation can be. Your advice and initial review together with my implementation structured an RFP response that did the right thing: protected ECC from potential legal risks. While there was commercial pressure to bend from these principals we stood our ground and as a result have a much stronger bargaining position. Transition from Houston to Toronto - While both you and Mark know that there were some initial issues with respect to working out the arrangements for my move from Houston to Toronto I believe that I have transitioned quite smoothly. I think that I have quickly gained the respect and trust of those in the Toronto office and of Rob Milnthorp. Being the lone lawyer in a satellite office presents unique challenges; especially when the commercial folks are not content doing bread and butter type transactions but rather present highly structured deal on a weekly or even daily basis. I understand and appreciate that you have gone out of your way to provide support to me when I have had issues arise on Toronto matters. In return I feel that I have provided you with comfort that the legal interests of Enron Canada are being protected and that our commercial team is receiving top notch legal support. I have done this while still managing all of the little things that go along with moving your family 2000 miles. Regards CJG