Message-ID: <11280245.1075840727842.JavaMail.evans@thyme> Date: Wed, 13 Dec 2000 06:11:00 -0800 (PST) From: jeremy.morris@enron.com To: portland.shift@enron.com, d.hunsucker@enron.com Subject: PX HA cut on Sunday, 5/28 Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Jeremy Morris X-To: Portland Shift, D Brett Hunsucker X-cc: X-bcc: X-Folder: \mark guzman 6-28-02\Notes Folders\Notes inbox X-Origin: GUZMAN-M X-FileName: mark guzman 6-28-02.nsf ---------------------- Forwarded by Jeremy Morris/PDX/ECT on 12/13/2000 02:21 PM --------------------------- D Brett Hunsucker 06/27/2000 04:52 PM To: Portland Shift, John M Forney/HOU/ECT@ECT, Chris Stokley/HOU/ECT cc: Subject: PX HA cut on Sunday, 5/28 Following is an email I sent a few weeks ago. The parts in GREEN are new. Please read this again to make sure you understand how PX cuts should be handled. The reason for the change is we had Pete Davis adjust the Enpower-to-PX report to also include Enpower deals where the counterparty is CalPX-Time Removal. If the PX calls to tell us of an hour-ahead cut, leave the prescheduled deals in Enpower alone. In Enpower, enter a purchase from the Cal PX Time Removal for the curtailed mws @ the PXHA Index price, and a corresponding sale to the counterparty (in this case, EPE) for the same mws and @ the same index. The index should be a negative price, so the above deal entries would show us ultimately paying the counterparty (selling @ a negative price) and receiving money from the PX (buying @ a negative price). This is because we (in this case, "we" is ultimately EPE) are being paid for getting off of the curtailed line and relieving congestion. The Enpower-to-PX report will show the DA/HA deal with the original volume plus the new PX Time Removal deal for the curtailed mws. These two deals will NET to the actual flow for that hour. The CAPS section of the report will show the ISO HA Final Schedules, which in this case is the actual mw flow. This will result in no variance on the HA Enpower-to-PX report because the Enpower deals will tie to the PX schedules. If the PX calls to tell us of a Real-Time cut, leave the prescheduled deals in Enpower alone. In Enpower, enter a purchase from the Cal PX Time Removal for the curtailed mws @ the ISO Ex-Post Index price, and a corresponding sale to the counterparty for the same mws and @ the same index. In this case, we are exposed to the ex-post price because the ISO is having to keep our supply whole to fill our load. The Enpower-to-PX report will show the DA/HA deal with the original volume plus the new PX Time Removal deal for the curtailed mws. These two deals will NET to the actual flow for that hour. The CAPS section of the report will show the ISO HA Final Schedule, which in this case is not the actual mw flow. Obviously, since Enpower nets to actual flow, and CAPS shows the HA Finals (which is not the actual flow volume), the Enpower-to-PX report will show a variance - which should be explained. ---------------------- Forwarded by D Brett Hunsucker/HOU/ECT on 06/27/2000 04:18 PM --------------------------- D Brett Hunsucker 06/05/2000 04:28 PM To: John M Forney/HOU/ECT@ECT cc: Subject: PX HA cut on Sunday, 5/28 don't loose it ---------------------- Forwarded by D Brett Hunsucker/HOU/ECT on 06/05/2000 04:33 PM --------------------------- D Brett Hunsucker 05/30/2000 12:07 PM To: John M Forney/HOU/ECT@ECT cc: Chris Stokley/HOU/ECT Subject: PX HA cut on Sunday, 5/28 Hey. Per our discussion w/Stokley: For the deals Holden entered (#345975 and 345976) on 5/28, I changed the volume from 50mw to 12.4 mw (the actual curtailment amt) and I changed the index from ISOSP15 (expost) to PXHA AZ2. Here's what I think the procedure for cuts should be going forward: If the PX calls to tell us of an hour-ahead cut, leave the prescheduled deals in Enpower alone. In Enpower, enter a purchase from the Cal PX Time Removal for the curtailed mws @ the PXHA Index price, and a corresponding sale to the counterparty (in this case, EPE) for the same mws and @ the same index. The index should be a negative price, so the above deal entries would show us ultimately paying the counterparty (selling @ a negative price) and receiving money from the PX (buying @ a negative price). This is because we (in this case, "we" is ultimately EPE) are being paid for getting off of the curtailed line and relieving congestion. This will result in an explained variance on the HA Enpower-to-PX report because the Enpower deal will still show the DA volume, while the PX HA Final Schedules will show the curtailed volume. This variance should be noted on the report that's left on my desk. If the PX calls to tell us of a Real-Time cut, leave the prescheduled deals in Enpower alone. In Enpower, enter a purchase from the Cal PX Time Removal for the curtailed mws @ the ISO Ex-Post Index price, and a corresponding sale to the counterparty for the same mws and @ the same index. In this case, we are exposed to the ex-post price because the ISO is having to keep our supply whole to fill our load. There will be no variance shown on the Enpower-to-PX report because both Enpower and the PX HA Final Schedules will show the DA volume. What I need from RT in this case is to note on the report the hour and amount of the real-time cut. Let me know if you have any questions. Brett