Message-ID: <33254117.1075845018473.JavaMail.evans@thyme> Date: Fri, 12 Jan 2001 02:40:00 -0800 (PST) From: mark.haedicke@enron.com To: travis.mccullough@enron.com Subject: CDWR Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Mark E Haedicke X-To: Travis McCullough X-cc: X-bcc: X-Folder: \Mark_Haedicke_Oct2001\Notes Folders\All documents X-Origin: HAEDICKE-M X-FileName: mhaedic.nsf Please give Christian a call on this and make sure you are satisfied we not taking too great a risk. Mark ----- Forwarded by Mark E Haedicke/HOU/ECT on 01/12/2001 10:38 AM ----- Christian Yoder 01/12/2001 10:06 AM To: Elizabeth Sager/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT cc: Subject: CDWR ---------------------- Forwarded by Christian Yoder/HOU/ECT on 01/12/2001 07:48 AM --------------------------- Greg Wolfe 01/11/2001 05:07 PM To: Steven J Kean/NA/Enron@ENRON cc: Tim Belden/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Steve C Hall/PDX/ECT@ECT, Bill Williams III/PDX/ECT@ECT, Tracy Ngo/PDX/ECT@ECT Subject: CDWR Steve: The CDWR idea has already been implemented. Today the ISO couldn't get supply from the market and informed market participants that CDWR would sleeve deals to the ISO. This occurred at a time when CA was in Stage 3 emergency (only the second one ever) and anticipating rolling blackouts this evening. Enron and other suppliers began to aggregate supply to sell to CDWR presumably to go to the ISO. Belden was concerned that Gray Davis may just withhold payment through CDWR when settlements are due. This concern prompted us to require paper confirms for hourly deals and a discussion between Christian Yoder and Steve Hall (Stoel Rives) with the assistant director at CDWR to make sure CDWR management was on board - which they confirmed verbally. Regardless of all of this we still have some paranoia about getting paid. Is Gray Davis willing to confirm that no payment issue through CDWR will occur? We are currently continuing to aggregate supply through the day but are hesitant to increase quantities without such assurance. Other suppliers appeared hesitant as well as they wouldn't sleeve the deals to CDWR.