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<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Enron Mentions
Body:: It looks like we are playing a smaller role than the WSJ article indicates -- i.e. a role commensurate with our level of interest. I have talked with John several times about the relative importance of OPIC ExIm and other funding organizations in light of the change in emphasis in our business. As a result of those discussions we cut headcount and expenditures from the proposed budget for 01 and John has joined Linda Robertson's organization in the DC office (instead of being a stand alone effort). Having said that my view (based on the work John has been doing) is that we continue to have a considerable amount of work for him to do on the project finance front as a result of existing projects projects we continue to pursue and transfer issues associated with the asset sales. Do you agree?
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Request for Comments
Body:: Have you solicited comments fromo EES? -----------------
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: SRP SETTLEMENT PROPOSAL - PRIVILEGED AND CONFIDENTIAL FOR SETTLEM
ENT DISCUSSIONS ONLY
Body:: Attached are three documents (cover memo draft settlement proposal settlement procedures timeline) comprising SRP's formal proposal to resolve five pending dockets RP99-507 (Indicated Shippers' Complaint) RP00-336 (Order No. 637 Allocation and Pooling Issues only) RP99-139 (ONEOK Complaint) RP01-484 (Indicated Shippers/California Complaint) and RP01-486 (Texas New Mexico and Arizona Shippers' Complaint). We appreciate the suggestions received to date and believe that while an uncontested settlement may be unlikely a sufficient nucleus is forming around the elements of this proposal that will lead to the filing of an Offer of Settlement and ultimate FERC approval as in the public interest. We encourage your active participation in this process. Note that while Advisory Staff present at the July 18 Technical Conference is aware conceptually that SRP will be distributing a settlement proposal this proposal has not been distributed to the Advisory Staff. This proposal has been sent to Rick Miles Director Dispute Resolution Services for informational purposes only at this time. Joel L. Greene Energy Advocates LLP 202-371-9889 202-371-9025 (fax) [email protected] <<SRP EPNG Settle.cvr.doc>> <<SRP EPNG Capacity Proposal.06.26.doc>> <<Proceduralschedule.doc>> - SRP EPNG Settle.cvr.doc - SRP EPNG Capacity Proposal.06.26.doc - Proceduralschedule.doc
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Burlington: PRIVILEGED AND CONFIDENTIAL ATTORNEY-CLIENT
COMMUNICATION
Body:: Lorraine here are a few notes from my review of the Val Verde contract and my initial impressions. Let's talk more about how to approach the issue after we meet with Ron tomorrow about MAOP. 12/31/92 Interconnect Agreement: Sec. 1.3 specifies pressures and states that unless there is an agreement to provide firm compression service TW will accept up to 200000 on an interruptible basis. Sec. 2 states that the Blanco Hub MAOP shall not be exceeded. Sec. 4.2 limits damages (no consequential damages). The contract also has a fairly standard force majeure clause. 2/18/93 letter amendment: Sec. 3 obligates TW to provide firm compression service in order to accept 200000 into TW's system (provided MOGI has pressure of at least 650 and quantity of at least 140). Acknowledges that this is an agreement to provide firm compression in accordance with Sec. 1.3 of 12/92 agreement. 9/25/95 letter amendment: Increases quantity to be received at the interconnect to 250000 once the San Juan expansion is effective. My initial conclusions: It is pretty clear we have an obligation to accept 250000 on a firm basis provided that Burlington complies with the pressure requirements. Probably the only way we can avoid this obligation is if accepting 250000 would cause us to exceed the hub MAOP. In that case we can argue impossibility of performance. Also we could avoid the obligation because the summer heat above certain temperatures constitutes force majeure. This argument is strengthened by the fact that temperatures seem to have gotten hotter over the years. The fact that we entered into our most recent agreement with Burlington in January of this year weakens the credibility of our arguments (they will say we should have known by now). Burlington might try to argue that we have an absolute obligation to comply with the agreement even if it means expensive system modifications. That argument is not a very strong one because the agreement contains no such affirmative obligation and in fact quite clearly describes the facilities that are the subject of the agreement.
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: TV News Clip
Body:: Jeff At the end of last week there was a very interesting TV news story on NBC KRON Channel 4 in San Francisco. You lead the story which also includes Governor Davis President Bush. What most catches my attention are the visuals and chant of the protestors during the Enron segment. The props and signs are very TV camera friendly. For instance there is a larger then life mask of you and a mockup of a paycheck to you from the people of California. The chant rhymes with your name. From my perspective this was no simple pie in the face. This protest was very organized and sophisticated. I think it would be prudent to gain more information about who was behind it and who was behind them. I tried sending you the video file in mpeg format but at 8400k it was too large to email. To see the news clip you may double click this link After downloading the video will play on a computer that has Real Player. Kevin
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Ken Lay update
Body:: Ken left a msg for me on Sunday. He was able to return Bryson's call. Not much new: Ken got Jeff's paper will try to reach Hertzberg on Monday. Bryson gave an update (very consistent with yours on Fri) Wants us to think creatively about how to keep DWR contracts from preventing the comprehensive solution and how to address the concerns of the state treasurer. Ken tried to reach Pete Peterson (Blackstone) but did not make contact.
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Humberto (Beto) Kuhn, resume
Body:: Maureen - please forward on to Barry when you get his e-mail address. Barry - I don't know Humberto personally but looking over his resume I thought he might be a fit in your organization. -----------------
What should this email be categorized as?
[/INST] Employment arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: <<Concur Expense Document>> - February 2001-CR
Body:: nan
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: California Lawmakers Vote to Limit Power Costs - WSJ
Body:: They refer to expedited siting. What are the provisions? -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Reliability and Security Arguments (RTOs)
Body:: This responds to Charles's voice mail and the RTO conference calls that Janel has been on where we have discussed responding to those who say the heightened interest in security is a reason NOT to do large RTOs. Jim Steffes is the EPSA witness on reliability and other issues at a Barton subcommittee hearing next Wed. Oct. 10th. While the written testimony filed for the Sept. 11 hearing that was canceled is still operative Jim's oral remarks can be whatever he wishes. Also even if he does not raise it in his opening statement the issue will no doubt come up by others or in Q&A. Thus -- any talking points need to be ready by Tuesday for this hearing. Does not have to be anything fancy or hand-out quality. Just something for Jim to consider using. Charles I do not recall any specific articles on what NERC said but Sarah Novosel said she would check since she thought there was something like what you raised in your voice mail.
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: RE: California Transactions of EPMI--Confidential ATTY Client Work
Product
Body:: Robert Here is an updated sheet with EPMI physical transactions with deliveries in California. The format has been improved and I added a breakout for transactions with Dynegy. Please destroy earlier versions of this report. Rick Shapiro has asked to be the point of contact in Government Affairs regarding the merger. Please copy him on future communications. Robert or Rick: Please let me know if you need any help such as adding months putting the data in another format or combining this data with Dynegy market share data. Alan Comnes
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: <<Concur Expense Document>> - RLB-Florida
Body:: nan
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Vision Focus Groups
Body:: Rosie and Sherrie: Jeff Ken and Joe wanted to discuss the attached. Joe -- this is the same document I forwarded to you earlier. -----------------
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Confidential --CFTC Chair
Body:: do not circulate fyi
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Invitation to Corporate Responsibility Task Force Meeting
Body:: Let me know when and where. -----------------
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: FW: Surprise!!
Body:: EB 4712C Ext. 3-1586
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Senate Investigative Committe Begins Hearings Today @ 1:30
Body:: The State Senate begins it's investigative hearings today April 18 @ 1:30 pm in Room 2040. The topic this week and next week will be to go over previous investigations into market power. Today the committee will be hearing testimony from: Frank Wolak Chairman Market Surveillance Committee CAISO. Eric Hildebrandt Manager Market Monitoring CAISO Elaine Howle State Auditor IEP will be prepared to respond to media at the hearings and will be distributing the attached materials: An outline of previous investigations into market manipulation and price gouging -- and ???their findings. ? A detailed analysis of the flaws in the CAISO reports We will keep you posted. Thanks Jean -- Jean Munoz McNally Temple Associates Inc. 916-447-8186 916-447-6326 (fx) - ISO Report An.pdf - Previous Inve.pdf
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: CA Legislative Summary
Body:: nan
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Privileged and Confidential communication to my attorneys
Body:: Felicia Does this sound right to you? Just wanted to confirm. Thanks. Michelle -----------------
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: PARAGRAPH
Body:: Enron also announced today a restructuring of its broadband business. Conditions in the broadband industry have reduced revenue opportunities in the sector. The strategy we pursued in the broadband business will allow us to quickly restructure this business without affecting our strong earnings outlook said Skilling.
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Arbitration with Reliance and ONGC
Body:: Are you aware of this? -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Per Your Request
Body:: This is a very good try. I think it comes off too defensive and too genera= l=20 (I just don't think the topic lends itself to the format). Here's what I= =20 think we should do: Jeff is filming a piece for etv about the stock price. = =20 We should perhaps use and expand upon those messages. This approach is= =20 more directed at the bottom line: why our stock price should go up. =09Sarah Palmer@ECT =0903/09/2001 03:14 PM =09=09 =09=09 To: Steven J Kean/NA/Enron@ENRON =09=09 cc: Mary Clark/Corp/Enron@ENRON =09=09 Subject: Re: Per Your Request Thanks Steve. Here's an initial draft -- I've taken a very light eBizy= =20 approach to delivering the message. Perhaps by having some fun with it we= =20 can look a little less defensive. Let me know if we're on track or pitiful= ly=20 way off. Thanks. Comparing Enron to Apples You may have noticed =01) or you may be asking why =01) industry analysts o= ften=20 compare Enron to Wall Street firms like Goldman Sachs or investment banks= =20 like Chase Manhattan. We thought it was time to sort out any confusion=20 between our businesses just in case someone asks you to explain. Here's h= ow=20 we're different from those guys: w Enron provides physical delivery of energy products to customers =01) we = are=20 not just traders. Those guys mainly act as brokers and do not participate= =20 physically. w Enron proactively seeks to reform and create markets. Those guys simply= =20 participate and compete. w Enron extends its business model into new and deregulating markets=20 enabling high growth rates. Those guys are in markets that generate less= =20 aggressive growth rates. w Enron owns physical assets that provide consistent cash flow such as our= =20 pipelines. Those guys do not have them. And if that's not enough we think our employees are so much cooler than=20 theirs. =09Steven J Kean@ENRON =0903/09/2001 01:06 PM =09=09=20 =09=09 To: Mary Clark/Corp/Enron@ENRON Sarah Palmer/HOU/ECT@ECT =09=09 cc:=20 =09=09 Subject: Per Your Request Here are the message points
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Monthly Billing - Detail Class 845 / s100061.xls
Body:: -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re:
Body:: I'll give 150. Enron Capital & Trade Resources Corp. From: Jeff Skilling 04/19/2001 05:18 PM Sent by: Sherri Sera To: Cliff Baxter/HOU/ECT@ECT Rick Buy/HOU/ECT Ben Glisan/HOU/ECT@ECT Steven J Kean/NA/Enron@Enron Jeffrey Sherrick/Corp/Enron Philippe A Bibi/HOU/ECT Michael Brown/NA/Enron Wade James A Hughes/ENRON_DEVELOPMENT Louise Kitchen/HOU/ECT@ECT Rebecca McDonald/ENRON_DEVELOPMENT Greg Piper/Corp/Enron John Sherriff/LON/ECT@ECT Greg Whalley/HOU/ECT@ECT Janet R Dietrich/HOU/EES@EES Mark S Muller/HOU/EES@EES Matthew Scrimshaw/LON/ECT@ECT David Cox/Enron Communications@Enron Communications Kevin Hannon/Enron Communications@Enron Communications Rod Hayslett/FGT/Enron Stan Horton/Houston/Eott@Eott Danny McCarty/ET&S/Enron@Enron cc: Subject: I know how incredibly busy you all are so I'm sure that making a pledge to Jeff for the MS150 has simply slipped your mind. Well the ride is this weekend time is running out and we need you! Enron's goal is to raise $700000 and Jeff's personal goal is to raise $50000. As of today we are a little better than half way there. Won't you consider helping him reach his goal? Thanks for your consideration. I look forward to hearing from you tomorrow... Sherri :-)
What should this email be categorized as?
[/INST] Purely Personal <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Spoke with Jeff
Body:: I'm glad things are moving forward. I've talked with Dave briefly and will= =20 follow up with him again. Kevin Scott on 07/13/2001 10:14:01 AM Please respond to [email protected] To: Steve Kean <[email protected]> cc: =20 Subject: Spoke with Jeff Steve =20 As planned I spoke with Jeff this morning. It was a great call. I am=20 really excited about what is ahead. =20 We discussed the =01&title=018 issue. I don=01t have any problems. We sh= ould go=20 with what is the best way to enter the organization. =20 =20 Jeff said he was going to touch base with Dave this morning to move the=20 process forward. I can=01t wait for my interviews and to join the team.= =20 =20 Thanks for all of your help. =20 Kevin =20 Contact Information E-mail Phone (213) 926-2626 Fax (707) 516-0019 Traditional Mail PO Box 21074 ? Los Angeles CA 90021 =20
What should this email be categorized as?
[/INST] Personal but in professional context <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Another List
Body:: fyi -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Enron Mentions
Body:: nan
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Corporate Watch article
Body:: -----------------
What should this email be categorized as?
[/INST] Empty message <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: ENE Officer Elections
Body:: We should include David Oxley -- VP of human resources. From: Kelly Johnson/ENRON@enronXgate on 07/18/2001 11:13 AM To: Steven J Kean/NA/Enron@Enron cc: Maureen McVicker/NA/Enron@Enron Subject: ENE Officer Elections Steve: Please review the attached ENE Officer list for your direct reports and approve. Thank you. Kelly M. Johnson Enron Corp. Executive Assistant Tel: (713) 853-6485 Fax: (713) 853-2534 E-Mail: [email protected]
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: test
Body:: test
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Some comments on the brief
Body:: I forgot to email myself the brief to track changes but here are my changes in writing: p. 1: Para starting focusing on the latter that sentence change get creative to be innavotaive in its approach. p. 2: 1st full Paragraph Second sentence change uniting to common and there is a typo on line5 reduction n consumption. Should be of page 6: We need the RR for PG&E. Under Part VII Rate Design can we insert a sentence that our proposal unlike the others does not arbitrarily allocate costs to peak period. We told Scott we wuold insert the arbitrariness of other proposals several times in the brief. We also need ro insert discussion about relation of peak to offpeak prices as a 3:2 ratio which is not what other parties have proposed. page 8: 2. Derivation of Threshold Usage: first sentence delete between in first sentence. page 9: Second full paragraph begining Again the UDS's Second sentence sited should be cited p. 12: First full paragraph beginning A primary component Insert a sentence after the second sentence to mention again the arbitrariness of proposals allocatin costs between peak and offpeak. Second full parag beginning Enron's proposal can stick a sentence about arbitrariness in there too. And change more necessary goal in 4th sentence to more critical goal I don't have the email I sent out about what we agreed to insert with Scott so if you have a chance check it to make sure we did everything we agreed to. I am going to try to come into the office very early tomorrow and will check email again but my son has an appointment with the neurologist here in Houston at 9:20 am tomorrow and that is where I will be when you have the 9:30 call (we made this appointment months ago). But I will communicate with Harry and everyone else before then. Thanks.
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Enron Management Conference - Hyatt Hill Country Resort, San
Antonio
Body:: Need to be there by noon to attend Ashok's staff meeting. Fredericksburg A room Your Continental flight leaves at 9:45.
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: RE: Corporate Policy Committee
Body:: The memo going out on Monday discusses the corporate policy committee brief= ly=20 at the end. The corporate policy committee does the MD PRC (evaluation of= =20 MDs and promotions to MD) reviews the recommendations of the other=20 committees (which we are just now forming). Additionally the corporate=20 policy committee met to determine the membership and charters of the other= =20 committees (including the PRC committees). The corporate policy committee = is=20 comprised of the most senior executives including the Office of the=20 Chairman the leaders of the four business units and the heads of the=20 corporate functions. In addition to the specific items mentioned above th= e=20 corporate policy committee was intended to discuss and resolve the major=20 issues facing the company including issues of strategy personnel and=20 challenges facing the company. =20 The corporate policy committee has met three times so far so not much=20 history yet. Perhaps as further pronouncements issue from this august body= =20 we will make more of a point about where they came from. =09Mary Clark =0903/15/2001 05:36 PM =09=09=20 =09=09 To: Steven J Kean/NA/Enron@Enron =09=09 cc:=20 =09=09 Subject: RE: Corporate Policy Committee Steve please briefly describe what the policy committee does so we can=20 respond to this employee question. Thanks. Mary -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: nan
Body:: Vince I'll have him e-mail you a CV. I'd be happy to speak at the POWER RISK conference. Frank Professor Frank A. Wolak email: [email protected] Department of Economics Phone: 650-723-3944 (Office) Stanford University FAX: 650-725-5702 Stanford CA 94305-6072 Phone: 650-856-0109 (Home) World-Wide Web Page: Cell Phone: 650-814-0107
What should this email be categorized as?
[/INST] Personal but in professional context <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Summer
Body:: -----------------
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Charlie Baker
Body:: the price might be a bit stiff particularly in light of the following: I don't think we need the DC grass tops component. we have an effective set of messages contacts consultants and lawyers. Perhaps we could use Charlie as a fresh set of eyes on that stuff but I think that asking him to develop such an effort would be duplicative of what we have done with AAE Paxson Fleischman-Hillard Divall etc. I do think the other aspects of what he proposes would be useful however (and should be less resource intensive and at least a little less costly). Richard Shapiro@EES 08/21/2000 05:12 PM To: Steven J Kean/NA/Enron@Enron cc: Subject: Re: Charlie Baker What do you think? -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: call phil moeller 202.589.0905
Body:: TASK ASSIGNMENT Task Priority: Task Due On: 4/16/2001 Task Start Date:
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: RE: London, New York, Houston, Financial Mathematics June/July 2001
Body:: Joanna You can keep the name as is. I don't want Zimin to be blamed for the flaws of my presentation. Vince
What should this email be categorized as?
[/INST] Personal but in professional context <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Suggested Approach
Body:: Please see the attached.
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Legal Analysis on AB 1890
Body:: What do you think he'll add? Jeff Dasovich Sent by: Jeff Dasovich 10/13/2000 11:01 AM To: [email protected] cc: Subject: Legal Analysis on AB 1890 I think it would be a good idea to have Ron Carroll in Watkiss' shop to do a parallel analysis to what we're going to have Mike Day do. Ron's very good and has done much work on these sortrs of issues. You comfortable with that?
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Ed Segners Staff meeting, in 50M Dining Room
Body:: Jordan Mintz 3-7897 Bob Foster 818 302 9210 Kevin Beasley 3-7807
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: CONFIDENTIAL - Tennessee political contributions
Body:: Barbara short of me coming up with the money it will be next to impossible to get this out of either the trading or origination group. As a significant contributor to the PAC and Enron's other adventures I don't have the room. Personally I also have difficulty making campaign contributions so closely linked to specific legislation or policy. This may not be the answer you want however I am all ears if you have any ideas on raising these funds. Regards Delainey -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: ISO-NE failure to mitigate ICAP market -- Release of ISO NE
confidential information
Body:: The New England Conference of Public Utilities Commissioners (NECUPUC) filed an Answer if Support of the Motion of the Maine Public Utilities Commission for Disclosure of Information. NECUPUC supports the request for the release of the unredacted copies of ISO-NE's September 21 2000 Answer in this case. In the alternative they would ask that the Commission provide to the regulators that are parties to the proceeding unredacted copies of the ISO's September 21 2000 Answer subject to an appropriate protective order. Duke Energy North America (DENA) filed an Answer that opposes the MPUC request for public information. DENA argues that only a three month lag in the release of confidential information is impermissible under a prior FERC ruling in the NSTAR Services Co. case which set out a six-month lag rule for the release of information. Their second argument was that the request seeks information for all NEPOOL markets and not just the ICAP market which is subject to the suit. If the FERC authorizes the release of confidential information then it should be subject to a protective order which contains the following: The information may only be used for the purposes of this docket. Only specifically named reviewing Reps associated with the MPUC may review the information. The confidential materials may not be removed from the NE-ISO's premises. The reviewing rep must execute a nondisclosure certificate. Answer to the MPUC's Motion for Disclosure of Information from Northeast Utilities Service Company and Select Energy and request for expedited commission action. NUSCO and Select Energy Support MPUC's request for disclosure of information that the ISO has filed under seal but opposes the selective disclosure of this information to the MPUC and other regulatory commissions and not other participants. NUSCO and Select Energy request expedited action due the financial implications and there is also considerable uncertainty regarding prices in the residual ICAP market in January February and March of 2000 due to the suspended settlement pending Commission guidance.
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Board of Directors Meeting - February 13, 2001
Body:: Attached are my edits. From: Rebecca Carter on 05/24/2001 04:42 PM Sent by: Kelly Johnson To: Steven J Kean/NA/Enron@Enron cc: Subject: Board of Directors Meeting - February 13 2001 Please provide comments the attached minutes by June 1 2001. If you approve as written please let us know. Regards Rebecca CONFIDENTIALITY NOTICE The information contained in this email may be confidential and/or privileged. This email is intended to be reviewed by the individual or organization named above. If you are not the intended recipient you are hereby notified that any review dissemination or copying of this email or its attachments if any or the information contained herein is prohibited. If you have received this email in error please immediately notify the sender by return email and delete this email from your system. Thank you.
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: <<Concur Expense Document>> - General Expenses
Body:: nan
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Ed Segners Staff meeting, in 50M Dining Room
Body:: Ralph Reed--get back to him (second week of Oct)
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: PG&E Credit Exposure
Body:: Ken will be making a call to Bob Glynn at PG&E. Please give the attached to Ken before the call.
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Dow Jones Reports that PG&E Buys Forward for 5.6 cents for two
years
Body:: nan
What should this email be categorized as?
[/INST] Empty message <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Public Report 08-01
Body:: as discussed -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Tariffs Approved
Body:: Congrats Ray. ... Now get FERC to do something amazing. -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Commission Meetings
Body:: I will attend. -----------------
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Your corner on the intranet
Body:: I think you are right. I thought we were going to do both. Elizabeth Tilney@EES 06/13/2001 04:51 PM To: Steven J Kean/NA/Enron@Enron Mary Clark/Corp/Enron@ENRON Karen Denne/Corp/Enron@ENRON cc: Subject: Your corner on the intranet You know I love this idea BUT I still think we need to let Ken personally address the shots he has taken. It is just not the same to have Jeff say it is okay that the AG of California wants to put Ken in a cell with Spike! I strongly believe we need to give Ken a forum too as he has been at the center of alot of the recent noise. I still believe a video with both of them is the right way to go...The State of Enron. I think Jeff's Corner is a great idea too...can't we do both? Ok I have said this enough..I will go away quietly now and let the experts decide...Beth -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Hearing
Body:: Let's take the opportunity. Cynthia Sandherr@ENRON 07/19/2000 06:32 PM To: Steven J Kean/HOU/EES@EES cc: Subject: Re: Hearing Steve: per your voicemail we do not have a date yet but should have it before Congress leaves next Friday. I'll let you know as soon as it is set. As you can see I disagree with Mark per the attached e-mail I sent him earlier today. I do not think it should be Jeff Skilling. Mark does not appear to concur with me. Perhaps I should go ahead and express our interest to testify and then we can have a conversation with the team to decide who should do it. I was just trying to not waste a chit and ask for a spot if we had no interest. We can determine who and what later. So before I ask the Committee we DO want to testify correct? -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: nan
Body:: I understand from Shelley that you are going to be seeing Commissioner Breathitt on Monday. We have been working to persuade her to vote for forceful FERC action on electricity issues. She is widely viewed as the swing vote (with Massey and Hoecker being the other two votes) needed for the Commission to take action. Attached are two documents -- one is a set of talking points for you and the second is a FERC action plan that we are floating with several of the Commissioners.
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Phoenix/Equilon Deal; CONFIDENTIAL ATTORNEY/CLIENT
COMMUNICATION AND ATTORNEYS WORK PRODUCT
Body:: Stan: I understand completely and we will do our very best to achieve your desired approach. The problem is this: Regardless of what the MOU says we will have to go through a size/probability analysis on this deal. The deal is clearly material to EOTT. From an SEC perspective the duty to disclose a pending deal depends upon how material the transaction is and how likely it is to occur. If a deal is very material a lower degree of probability is needed before disclosure is required. The MOU itself is not totally determinative although signing a document which looks like an LOI will increase the chances of having to disclose. In the present case if Equilon's Board gives the go- ahead to deal with us exclusively I feel there would be at least a 20% chance of closing a transaction (based upon past dealings with these folks). Accordingly if/when that happens we will need to take a hard look at the disclosure issue. We do not want to disclose prematurely but I am pretty sure that this deal would be considered material and if we go forward with Equilon I believe that we will need to disclose it at some point prior to closing (certainly after signing a PSA). We can delay disclosure for a period of time for legitimate business reasons and the MOU we sign may not rise to the level of an LOI but at some point---if we go forward with Equilon---we are going to reach a point where the size and probability of the deal will mandate disclosure. We don't need to make a decision at this point we just need to be aware of these circumstances and manage the process accordingly. From a different perspective we want to sign some kind of LOI with Equilon as soon as we feel comfortable doing so because we want the HSR waiting period to begin running. Equilon wants to close by November 1st. Please advise if you wish to discuss further. Thanks. SWD Stanley Horton@ENRON Sent by: Cindy Stark@ENRON 07/12/2000 02:04 PM To: Steve Duffy/Houston/Eott@EOTT cc: Subject: Re: Phoenix/Equilon Deal CONFIDENTIAL ATTORNEY/CLIENT COMMUNICATION AND ATTORNEY'S WORK PRODUCT Steve: Let's start thinking about how we could structure the MOU so we wouldn't have to disclose the deal. I would rather not disclose a tentative deal. Stan From: Steve Duffy@EOTT on 07/11/2000 01:47 PM To: Dana Gibbs Lori Maddox/Houston/Eott@Eott Stanley Horton/Corp/Enron@Enron cc: Joe Richards [email protected] Susan Ralph Subject: Phoenix/Equilon Deal CONFIDENTIAL ATTORNEY/CLIENT COMMUNICATION AND ATTORNEY'S WORK PRODUCT Joe R. will be sending out something in greater detail shortly but it appears that Equilon's management would like to pursue a deal with us on an exclusive basis and that this decision is being forwarded to the Equilon Board for approval. If this acquisition goes forward we will need to get organized---in the near term---on a number of logistical/due diligence tasks but one thing we should start thinking about now is the disclosure issue. If the Equilon Board gives the go-ahead for Equilon to pursue this transaction Equilon will probably want to sign a memorandum of understanding with us and this may put us in a disclosure posture because at that point we would be looking at a $65 million deal (approx.) with a closure probability of no less than 20% (in my judgment based upon our past dealings with these people). Even without a signed document the size/probability test would still be an issue for us to deal with. Everyone should be thinking about this issue as we await word from Equilon's Board. Thanks. SWD
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Subject:: RE: Confidential Communication to my Attorney
Body:: so would we have an issue?
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Subject:: Translation of articles
Body:: -----------------
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Subject:: Confidential Information and Securities Trading
Body:: To:JONES TANA Email:[email protected] - 7138533399 ? Enron Wholesale Services - Office of the Chairman ? From:??Mark Frevert Chairman & CEO ??????Greg Whalley President & COO ??????Mark Haedicke Managing Director & General Counsel ? Subject:??Confidential Information and Securities Trading ? Enron Wholesale Services ('EWS') maintains official Policies and Procedures Regarding Confidential Information and Securities Trading ('Policies and Procedures') which have been revised as of November 15 2000 to reflect the new EWS structure. These policies and procedures are intended to allow us simultaneously to pursue our diverse businesses and to protect confidential information our reputation for integrity and EWS and its employees from legal liability. ? You are required to become familiar with and to comply with the Policies and Procedures. The newly revised Policies and Procedures are available for your review on LegalOnline the new intranet website maintained by the Enron Wholesale Services Legal Department. Please click on the attached link to access LegalOnline: ? ? You must certify your compliance with the Policies and Procedures within two weeks of your receipt of this message. The LegalOnline site will allow you to quickly and conveniently certify your compliance on-line with your SAP Personal ID number. If you have any questions concerning the Policies or Procedures please call Lance Schuler at extension 3-5419 Mark Haedicke at extension 3-6544 Alan Aronowitz at extension 3-3214 Bob Bruce at extension 5-7780 or Donna Lowry at extension 3-1939.
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Subject:: Fwd: Anti-motivational pictures.
Body:: -----------------
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Subject:: Re: Funky Business
Body:: I have looked it over. I think they would do a good job. Another idea: Dick Foster (advisor to Enron's Board and Senior Director at McKinsey) has a great book out: Creative Destruction. I was on a panel with him recently where he shared some of his research. He is a very good presenter he knows Enron well and his work is first rate. He might be a good addition. I have an idea on the breakout sessions. It needs some work but I'd like to talk it through with you. TERRIE JAMES@ENRON COMMUNICATIONS 07/05/2001 01:09 PM To: Steven J Kean/NA/Enron@Enron cc: Subject: Funky Business Steve Have you had a chance to look at the book Funky Business and to give any thought to having Jonas present at the Management Conference? I know you have a thousand other things on your plate not the least of which is California so I understand if the answer is no. However they've been contacted by someone else about the date so we may be forced to decide rather soon. On a related subject I'm contemplating another topic for the conference. I'd seen an article in Fortune several months ago titled Managing for the Slowdown. It talked about new challenges managers face in light of the economic downturn. (Most young managers have never experienced anything but boom times.) The article also outlines a dozen or so things companies should be thinking about now. (Use the downturn as a new opportunity to evaluate people. Overhaul your budget process. Don't stop communicating. etc.) I think it would be beneficial to address similar strategies and ideas with our managers. I'd love to get your thoughts on this idea. (Is it appropriate for Enron or am I just seeing the world through bleak-colored glasses?) Terrie James Sr. Director Corporate Communication Enron Broadband Services 713-853-7727 (phone) 713-646-8887 (fax) [email protected]
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Subject:: <<Concur Expense Document>> - Rob Bradley-Mar 5-6
Body:: nan
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Subject:: Re: Memo to go out.
Body:: looks good Maureen McVicker 05/01/2001 05:36 PM To: Steven J Kean/NA/Enron@Enron cc: Subject: Memo to go out. Steve: FYI - this is what went out Tuesday night after a few minor changes. It was approved by Ken Jeff & Cliff. -----------------
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Subject:: Monthly Billing - Detail Class 845 / s100061.xls
Body:: -----------------
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Subject:: nan
Body:: FYI. JDS -----------------
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Subject:: Thu evening
Body:: Thanks. Confirmed Thu 8:30. Vince
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Subject:: Energy Issues
Body:: Please see the following articles: Sac Bee Thurs 7/5: Many rural towns to escape blackouts utility maps sho= w Sac Bee Tues 7/3: Details emerge in power contracts SD Union Thurs 7/5: New FERC member seems attuned to state's woes SD Union Wed 7/4: Electricity price-cap tests spark allegations SD Union Wed 7/4: Renewable energy fades from picture in rush for solutio= n SD Union Wed 7/4: SDG&E spreads word of looming blackouts SD Union Wed 7/4: Two more energy whistleblowers slated to come forward SD Union Wed 7/4: Disabled PG&E employees ask state for help in getting= =20 disability checks LA Times Thurs 7/5: Powerful Judge Illuminates Energy Practices Law:=20 'Folksy' jurist 72 stuns utility executives and lawyers alike with his=20 courtroom incisiveness. SF Chron Thurs 7/5: Davis lauds California generator=20 Vote of confidence at Calpine's festival=20 SF Chron Wed 7/4: Activists stage anti-corporate march to power plant=20 SF Chron Wed 7/4: Davis asks PUC to let utilities cut voltage=20 1% savings on energy consumption predicted SF Chron Wed 7/4: Federal price limits backfire=20 Some generators withhold power rather than abide by rate caps SF Chron Wed 7/4: Two more energy whistleblowers slated to come forward Mercury News Wed 7/4: Davis seeking cheaper contracts=20 --- Many rural towns to escape blackouts utility maps show=20 By Carrie Peyton Bee Staff Writer (Published July 5 2001)=20 Huge stretches of Northern California including many rural foothill and=20 valley communities won't face rolling blackouts this summer spared by a= =20 combination of geography and circuitry.=20 Placerville and Loomis Esparto and Isleton are among the many towns that= =20 will be largely or entirely bypassed by deliberate blackouts according to= =20 new Pacific Gas and Electric Co. outage maps.=20 Such communities are served by so few circuits that each one has been=20 exempted from outages because a critical facility such as a fire station o= r=20 a water treatment plant lies along the circuit somewhere PG&E spokesman= =20 John Nelson said.=20 Both PG&E and the Sacramento Municipal Utility District have begun shedding= =20 more light on their strategies for rotating outages in the wake of a=20 governor's order requiring utilities to let people know where blackouts wil= l=20 strike next.=20 For PG&E that has meant quickly posting and then updating blackout maps on= =20 its Web site. For SMUD it has meant publicly detailing for the first time= =20 the boundaries of 78 separate rotating outage areas and listing by number= =20 which areas could be tapped next.=20 We were contemplating putting the map on the Web before the governor's=20 order but the timing coincided very well said John DiStasio SMUD's=20 assistant general manager for customer service.=20 SMUD updated its Web site www.smud.org on June 22 so that now people can= =20 click on rotating outages and then next likely locations and map to see= =20 the shape of outages to come.=20 The map replaces less-precise neighborhood names which is all SMUD supplie= d=20 until Gov. Gray Davis ordered utilities to give the public common=20 geographical boundaries grid or block numbers maps or similar identifying= =20 information about where outages will strike.=20 With six days of rolling blackouts already behind California this year and= =20 forecasts that more probably lie ahead Davis has told utilities and the=20 state Independent System Operator to give better notice of when and where= =20 blackouts might occur.=20 Grid operators and utilities have cautioned that Davis' program of two-day= =20 one-day and one-hour warnings could produce many false alarms because power= =20 supplies often come through at the last minute. There is also some wariness= =20 about outage maps which SMUD and PG&E warn could change at any time.=20 But the maps do provide insight into how each utility will roll blackouts= =20 through its territory. PG&E's maps on the Web at www.pge.com under find= =20 your outage block and then rotating outage block map have recently been= =20 updated to be searchable by zip code.=20 They show that the vast majority of El Dorado and Placer counties and much = of=20 Yolo County are in PG&E's block 50 a designation for a circuit that won'= t=20 be in line for rolling outages because someone along it is crucial to healt= h=20 or safety.=20 Police stations fire stations hospitals and airports are all deemed=20 essential customers that should keep functioning even when the state power= =20 grid is so overloaded that blackouts are needed to keep it from collapsing.= =20 In densely populated areas circuits tend to be compact leaving lots of=20 neighborhoods eligible for rolling blackouts Nelson said.=20 But in rural areas particularly remote rural areas a circuit can go on f= or=20 miles and miles Nelson said. You can have multiple communities on one=20 circuit =01( (and) virtually every community has either a police station or= a=20 fire station or a hospital or a drinking water facility.=20 That has been good news for communities like Placerville which scrambled f= or=20 traffic control earlier this year when a rolling outage took out the signal= =20 lights on Highway 50 which bisects the town of 10000.=20 That has been our biggest concern because of the amount of traffic that go= es=20 through there said City Manager John Driscoll. Placerville will be spared= =20 future outages because regulators now are protecting more hospitals from=20 blackouts and much of the rest of the town shares circuits with hospitals.= =20 We didn't ask to be exempted out but I feel very happy that we are. From = a=20 selfish standpoint it feels very nice Driscoll said.=20 The Bee's Carrie Peyton can be reached at (916) 321-1086 or=20 [email protected].=20 =20 Details emerge in power contracts By Carrie Peyton and Chris Bowman Bee Staff Writers=20 (Published July 3 2001) California's power bills for the next decade probably will exceed the=20 forecasts of Gov. Gray Davis the State Controller's Office said Monday as = it=20 released unedited versions of long-term contracts in a new jab at the=20 governor.=20 The electricity contracts which Davis' office sought in court to keep=20 secret offer a glimpse into the rapid high-stakes deals struck early in t= he=20 state's power crisis and illustrate the way deregulation's unraveling could= =20 haunt California for years to come.=20 Some show that builders of new power plants could recoup the entire cost of= =20 those plants in four years or less. Some show lucrative swaps for power=20 including one arranged the same day California was rocked by rolling=20 blackouts.=20 More than two dozen additional administrative contracts detail the price=20 California is paying its consultants to seek a way out of the power mess= =20 from tens of thousands for Davis' aides down to $51 an hour for copying and= =20 phone answering.=20 The governor's office defended its estimates of the state's future power=20 bill.=20 The 41 long-term contracts 27 consulting contracts five short-term deals= =20 and stacks of receipts and invoices released Monday by state Controller=20 Kathleen Connell may just be the start.=20 Her office hopes to provide details about how much California has already= =20 paid individual power generators in the volatile short-term or spot=20 market.=20 The deals include so many intricate pricing formulas that Connell said she= =20 couldn't immediately predict exactly how high California's hourly power cos= ts=20 would go.=20 Walter Barnes chief deputy controller of finance said the contracts=20 probably would be well in excess of the $69 a megawatt-hour that Davis on= ce=20 said would be California's average cost for contract power for the next=20 decade.=20 The contracts' prices range from $55 to $249 a megawatt-hour and most are= =20 more than the $69 Connell said.=20 The state Department of Water Resources the state's power buying arm late= r=20 revised the $69 forecast to $70 a megawatt-hour through the end of 2010 wi= th=20 the higher priced power coming first.=20 If anything those figures could decline because natural gas the fuel for= =20 most new power plants is getting cheaper DWR spokesman Oscar Hidalgo said= =20 adding that his office sticks with its forecasts.=20 We're on pretty solid ground here he said.=20 As the statewide elected official who pays California's bills Connell=20 repeatedly has criticized the governor for his electricity spending saying= =20 that she never believed the contracts should be kept secret.=20 But Davis' office blasted her for giving out details that power generators= =20 and traders could use to learn the state's negotiating positions and buying= =20 practices and said the information could boost wholesale prices within days= .=20 When they open their electric bill next time every Californian can thank= =20 Kathleen Connell for higher electricity costs Davis spokesman Steve=20 Maviglio said.=20 The long-term contracts were first released June 15 by the water resources= =20 department with power plant names performance data delivery points and=20 other details blocked out under heavy black strokes.=20 Analysts said that was the sort of data they could have used to calculate h= ow=20 much more than the production costs the state was going to be paying for th= e=20 electricity purchased on behalf of three cash-strapped investor-owned=20 utilities.=20 As analysts began sizing up some of the specifics Monday early reactions= =20 were wary.=20 This just shows when the state comes in and takes over the utility system= =20 we're just going to be in deep from all sorts of expenses and inefficiencie= s=20 that we were trying to get away from with deregulation said Arthur=20 O'Donnell who edits a trade newsletter California Energy Markets.=20 Bill Marcus a power consultant who had analyzed the edited contracts for a= =20 consumer group quickly read through the unedited versions muttering things= =20 such as offensive and they got absolutely ripped here.=20 In one swap that was negotiated on a day of rolling blackouts in March the= =20 state agreed to send Powerex the trading arm of British Columbia's=20 government utility 2* times more electricity in the spring than Powerex=20 would return in the summer.=20 Although seasonal swaps are common the 2*-to-1 ratio was a sign of panic= =20 and inexperience on the state's part he said.=20 The consultants who advise California on power deals were frenetic at the= =20 time with one staffer at the Navigant consulting firm billing for hours=20 worked that were the equivalent of 9.7 hours a day for 34 consecutive days.= =20 The power purchase terms disclosed Monday confirm many energy analysts'=20 predictions that California consumers would be paying premium prices for=20 years to cover the costs of the new plants coming on line.=20 In several of the contracts the state agreed to pay generators a 25 percen= t=20 to 30 percent annual return on their plant construction costs which could= =20 pay off the entire plant in four years or less.=20 Before deregulation utilities generally received 3 percent to 18 percent= =20 annual return on their capital investments over 30 years said Marcus a=20 veteran energy analyst whose firm JBS Energy Inc. of West Sacramento=20 represents ratepayer groups.=20 We're all going to have to pay more for power plants over the next 10 or= =20 more years because the generators are looking to pay off their plants in ha= lf=20 the time he said.=20 Beyond blackouts and price spikes this will be the long-term legacy of=20 deregulation he said. The private market needs a high rate of return on= =20 their investment.=20 Several contracts were drafted in the late winter and early spring when=20 California endured Stage 2 and Stage 3 energy alerts.=20 The unmasked terms in some of those agreements reflect the state's=20 desperation for megawatts amid fears of routine blackouts when temperatures= =20 and energy use began to rise in the summer.=20 For example the state agreed in a March 29 contract to pay Calpine $232 a= =20 megawatt-hour to supply 300 megawatts nonstop from July 1 through Sept. 30.= =20 But a more recent Calpine contract calls for about $59 a megawatt-hour=20 starting Oct. 1.=20 Time made all the difference said Jim Macias a Calpine senior vice=20 president. He said that last winter Calpine couldn't guarantee that plants= =20 under construction in Sutter County and the East Bay would be on line by=20 summer. So the company bought the power on the spot market for the state= =20 Macias said.=20 Back in the winter $232 was a good price for electricity this summer he= =20 said.=20 Calpine officials said that they made no money on the sale and even knocked= =20 15 percent off their price to maintain good relations with the state power= =20 buyers.=20 The gesture more than paid off with the signing of the 10-year contract sa= id=20 Kathleen Potter Calpine spokeswoman.=20 It was a great transaction for us Potter said. We appreciate the=20 business.=20 Proponents of free-market energy buying have said that in the long-run= =20 competitive forces would result in more-efficient less-costly power=20 generation.=20 But the contracts show that pressed for more electricity this summer and=20 fall officials resorted to buying power from some of the least-efficient= =20 plants in the state guaranteeing owners of these aging generators 10 more= =20 years of income.=20 The Bee's Carrie Peyton can be reached at (916) 321-1086 or=20 [email protected]. New FERC member seems attuned to state's woes=20 Texan may become agency's next chief By Toby Eckert=20 COPLEY NEWS SERVICE=20 July 5 2001=20 WASHINGTON -- During his first weeks at the Federal Energy Regulatory=20 Commission Pat Wood has set a decidedly different tone in the agency's=20 strained relationship with California.=20 After meeting with Gov. Gray Davis last week Wood -- who was recently=20 appointed to the commission by President Bush and is widely expected to be= =20 named chairman soon -- praised the state's efforts to come to grips with it= s=20 power problems. It was a stark contrast to the almost constant criticism fr= om=20 FERC Chairman Curtis Hebert.=20 It certainly seems to me that both the political leadership and the=20 regulatory leadership of the state are committed to the kind of=20 infrastructure upgrades that are needed to really get supply and demand bac= k=20 into whack Wood said referring to power plants being built in California= .=20 The former Texas utility regulator also raised the possibility of closer=20 cooperation between FERC and state regulators including a joint effort o= n=20 inspecting power plants. State officials have accused generators of idling= =20 plants to drive up electricity costs a charge generators deny.=20 If we're kind of co-regulators with the state and in many regards we are= =20 it's helpful to work off the same set of facts so you get to conclusions mu= ch=20 more expeditiously Wood said though he was quick to add that he has not= =20 seen any evidence of intentional withholding of supply.=20 State officials hope Wood's statements signal that FERC is poised to take a= =20 more aggressive role in helping the state. If elevated to chairman Wood=20 would set FERC's agenda and shape its approach to dealing with California.= =20 The agency regulates wholesale electricity and natural gas markets which= =20 have subjected the state to skyrocketing prices.=20 Wood has brought a very good perspective to FERC said Howard Gantman a= =20 spokesman for Sen. Dianne Feinstein D-Calif. a frequent critic of the=20 commission. He seems very interested in getting to the root of the problem= =20 and finding solutions.=20 Throughout the crisis the state's relationship with FERC has been poisonou= s.=20 Davis criticized the commission for being slow to rein in electricity price= s=20 while Hebert faulted the state for crafting a bad deregulation law and=20 failing to build enough plants to keep up with demand.=20 Davis issued a guardedly conciliatory statement after his meeting in=20 Sacramento with Wood and Commissioner Nora Brownell who is also new to FER= C.=20 In a refreshing change from my past dealings over the past year with the= =20 agency these commissioners offered a problem-solving approach in resolving= =20 California's energy challenge Davis said. He added It appears that FERC= =20 may finally be poised to do its job controlling energy costs.=20 Threats criticized Despite the soothing words there is no shortage of potential flash points= =20 between Davis and FERC.=20 Wood who professes a religious zeal about competition raised concerns= =20 about a possible move by the California Public Utilities Commission to keep= =20 retail power customers from shopping around for alternative providers.=20 He also criticized threats that Davis and other California politicians have= =20 made to seize power plants and impose a windfall profits tax on power=20 sellers.=20 I think the rhetoric's still pretty hot out there. If I were a generator= =20 looking at 50 states one that's talking about a windfall profits tax and= =20 expropriation of property and all that is not a great climate Wood said.= =20 For his part Davis has questioned whether the recent price curbs imposed b= y=20 FERC in the West will be enough to tame soaring wholesale power costs that= =20 have bankrupted one utility cost the state treasury billions of dollars an= d=20 raised consumers' power bills.=20 Davis has also made it clear that he expects hefty refunds to result from t= he=20 FERC-brokered talks between the state and power providers which are in the= ir=20 second week.=20 I will be vigilant in insisting that Californians get their money back= =20 Davis said.=20 California consumer activists are taking a wait-and-see attitude toward Woo= d=20 saying they know little about him.=20 A major role My impression from afar is he seems to be more moderate said Harvey=20 Rosenfield president of the Foundation for Taxpayer and Consumer Rights in= =20 Santa Monica.=20 Once considered a bureaucratic backwater the five-member FERC has come to= =20 play a high-profile role in the California debacle and other disputes=20 involving the largely deregulated wholesale power markets.=20 The commission is charged with ensuring that just and reasonable prices= =20 prevail.=20 Bush is expected to make Wood the FERC chairman because Hebert is seen as t= oo=20 much of a lightning rod.=20 Before coming to Washington Wood who turned 39 yesterday headed the Texa= s=20 Public Utility Commission. There he oversaw the state's move toward a=20 deregulated electricity market. Like Hebert Wood is convinced that a free= =20 market will deliver cheaper power to consumers than a highly regulated one.= =20 I just think customers fare better when they have more choices Wood said= .=20 But consumer advocates and others who have worked with Wood in Texas say hi= s=20 zeal is tempered by a healthy dose of pragmatism.=20 Bottom line it's all about the customer. Y'all will hear me say that unti= l=20 you get sick of it Wood said. We want to make sure that the world we're= =20 moving to is better than the one we left.=20 Electricity price-cap tests spark allegations=20 Suppliers said to have held back industry blames ISO By Craig D. Rose and Bill Ainsworth=20 UNION-TRIBUNE STAFF WRITERS=20 July 4 2001=20 The first emergency tests of new electricity price controls have generated= =20 accusations that suppliers were withholding power and questions that the ca= ps=20 might need to be revised or scrapped.=20 And in a case of turnabout a power industry spokesman yesterday said the= =20 Independent System Operator which manages the state's electricity grid=20 might be using the federal price caps to manipulate the electricity market.= =20 This time however the charge is that the ISO is gaming to push prices=20 lower.=20 At any rate California survived its second consecutive day of power=20 emergencies without blackouts under price caps recently imposed by federal= =20 regulators but not without some bumps along the way.=20 The main culprit was hot weather that baked Western states for two days=20 forcing the ISO to issue Stage 1 and then Stage 2 alerts. Yesterday the IS= O=20 warned that rolling blackouts might hit in the afternoon.=20 But as has happened often this year the ISO bought power in the last minut= es=20 to avoid outages. The grid operator also credited conservation efforts with= =20 shaving from 2000 to 4000 megawatts of consumption. A megawatt can power= =20 about 750 homes.=20 It was a lot hotter than expected and a lot more humid said Kristina=20 Werst spokeswoman for the ISO.=20 Today state officials expect to avoid any blackouts because of the holiday= =20 which tends to decrease electricity demand Werst said.=20 The price controls ordered last month by the Federal Energy Regulatory=20 Commission set up formulas for maximum prices during emergency and=20 nonemergency periods. The FERC said the complex system was intended to=20 balance the need for lower costs with its desire to promote a power market.= =20 But questions are growing about the effectiveness of the FERC price caps.= =20 A Department of Water Resources spokesman which buys power for the state= =20 said generators withheld between 660 and 1500 megawatts of electricity=20 during a critical period earlier this week because of the price caps. That= =20 would be enough to cut electricity reserves from 7 percent to 5 percent and= =20 bump a Stage 1 alert to a Stage 2.=20 Sempra Energy Trading a marketing unit of San Diego Gas & Electric Co.'s= =20 parent corporation admitted that it ceased selling power to the state for= =20 what could have been a critical 30 minutes Monday.=20 A spokesman for the trading company said it halted sales for the half-hour= =20 because it was unsure about where the ISO would set maximum prices during t= he=20 first power emergency under the new caps.=20 When power emergencies are called under the FERC plan a new price cap is s= et=20 based on the cost of operating the least efficient most costly electric=20 generating plant. Because the identity of that plant is unknown beforehand= =20 the selling price is set retrospectively by the ISO.=20 It was unclear to the traders what the proxy price would be said Doug=20 Kline a Sempra spokesman who emphasized that the company's trading unit= =20 resells power generated by other companies. So it was unclear whether the= =20 ISO would come back later and say 'You purchased power at $70 per=20 megawatt-hour but we're only going to pay you $60.'?=20 For its part the ISO said the impact of price controls on electricity=20 supplies during emergencies is still unclear. The controls this week kept= =20 emergency prices Monday from a little over $70 per megawatt-hour to a high = of=20 about $90. FERC's nonemergency price cap has been about $92 per=20 megawatt-hour.=20 Earlier this year the average price per megawatt-hour was nearly $300.=20 Before the power crisis hit last year the price was about $30.=20 The ISO said several factors other than the price controls might have=20 contributed to tight supplies this week including plant shutdowns in other= =20 states and the regional heat wave.=20 But a spokeswoman for Nevada Power said the utility believed the price caps= =20 or confusion over their implementation had contributed to a power shortfal= l=20 that led to blackouts Monday. The utility fell about 100 megawatts short of= =20 its need as temperatures in some of its service areas hit 122 degrees.=20 Power is tight in the region said Sonya Heagen of Nevada Power. What=20 tipped it over (for southern Nevada) was several utilities decided to hold= =20 back power.=20 Gary Ackerman executive director of the Western Power Trading Forum an=20 industry group said the FERC's price-control plan fails to allow the=20 recovery of electricity transportation costs. That has the effect of keepin= g=20 electricity in the region in which it is generated rather than where it=20 might be needed most he said.=20 Ackerman said transportation costs which typically run from $2 to $8 per= =20 megawatt-hour are more significant now that overall prices have settled in= to=20 a $100 range.=20 They didn't mean as much to the suppliers when they were getting $400 per= =20 megawatt-hour Ackerman said.=20 He also said some of his members suspect the ISO made moves during power=20 alerts to artificially keep prices lower.=20 The FERC pricing regime sets nonemergency prices at 85 percent of the last= =20 full hour of a Stage 1 emergency. But this week the ISO twice went from a= =20 Stage 1 to a Stage 2 alert in less than an hour. That kept the nonemergency= =20 price cap in place at about $92 per megawatt-hour set back in May.=20 Some traders said the ISO is 'gaming the market' to keep the price lower= =20 Ackerman said. I have a few traders who think the price should be higher.= =20 The ISO rejected the charge of manipulation and said it continues to make i= ts=20 emergency declarations based on power supply and demand. The ISO also said = it=20 has not identified transportation costs as a problem under the FERC order.= =20 Other energy experts however said the FERC system of using the most=20 inefficient power plants to set emergency prices was a mistake.=20 Frank Wolak a member of the ISO's market monitoring unit and a Stanford=20 University economist said the plan invited energy companies to keep their= =20 least efficient plants in operation to ensure the highest prices.=20 But James Sweeney also a Stanford professor and energy expert said he=20 preferred the FERC plan to a rigid market price cap.=20 Consumer advocate Doug Heller of the Foundation for Taxpayer & Consumer=20 Rights said the FERC plan is too complex and urged a return to a regulated= =20 system which pays generators for their production costs plus a reasonable= =20 profit. Gov. Gray Davis supports a similar approach.=20 Arthur O'Donnell editor of California Energy Markets saw much of the=20 maneuvering this week as an industry road test of new price regime.=20 I think they were testing the boundaries O'Donnell said. This is the we= ek=20 where we test the bugs in the system.=20 Copley News Service correspondent Toby Eckert and The Associated Press=20 contributed to this report.=20 Renewable energy fades from picture in rush for solution=20 By Ed Mendel=20 UNION-TRIBUNE STAFF WRITER=20 July 4 2001=20 SACRAMENTO -- The electricity crisis is putting the squeeze on the renewabl= e=20 energy industry: the power plants that use the sun wind or underground hea= t.=20 The environmentally friendly alternative energy provides about 12 percent = of=20 the state's power. But the energy crunch and the state's effort to resolve = it=20 could end up shrinking the role of renewable energy in the coming years jus= t=20 as backers were hoping to see it expand.=20 For example:=20 ?Long-term power contracts obtained by the state to reduce costs will cover= =20 most state needs for a decade. Nearly all of the contracts are with natural= =20 gas-fired plants reducing the long-term market for new renewable plants.= =20 ?The uncertainty and lack of payment resulting from the crisis have slowed= =20 the development of renewable plants under an incentive program created as= =20 part of the state electricity deregulation plan.=20 ?Regulators are poised to prevent marketers from selling electricity=20 including green power from renewable sources directly to customers. A=20 large base of ratepayers must stay in the state program to pay off a power= =20 bond of up to $13.4 billion over 15 years. The state Public Utilities=20 Commission yesterday for the second time put off a decision whether to=20 curtail such direct access.=20 State and federal programs had been encouraging renewable energy to reduce= =20 dependency on the new wave of relatively clean and efficient natural-gas=20 power plants. The cost of electricity from those plants could go up if the= =20 demand for gas outpaces supply.=20 Renewable energy with the exception of some biomass plants also avoids th= e=20 pollution problems of power plants fueled by oil and coal -- not to mention= =20 the safety and radioactive waste-disposal problems of nuclear power.=20 A spokesman for a coalition of renewable generators and environmental group= s=20 said he thinks renewable energy has suffered during the electricity crisis= =20 because of a lack of attention not a shift in state policy.=20 I think the renewables are an unintended casualty said V. John White of= =20 the Center for Energy Efficiency and Renewable Technologies.=20 The state became a major player in the power equation in January when it=20 began buying power for debt-ridden utilities.=20 State officials say they would like to have a mix of power to spread the ri= sk=20 if something goes wrong with one source. For example soaring natural gas= =20 prices last winter were part of the reason for the high cost of electricity= .=20 In a trade-off the state scrambled to obtain long-term contracts that woul= d=20 lower the price of electricity now in exchange for prices that are expected= =20 to be above the market in the years to come.=20 The 38 contracts worth $43 billion over the next decade will help finance= =20 the construction of gas-fired power plants. About 70 percent of the power= =20 will come from plants that have not yet been built.=20 Only four of the contracts are for renewable power and their 120 megawatts= =20 is a tiny fraction of the total amount of power now under state contract. A= =20 megawatt can provide power for 750 to 1000 homes.=20 We agree the portfolio is lopsided and should be more diverse than it is= =20 Ray Hart head of the power purchasing unit in the state Department of Wate= r=20 Resources told the Senate Energy Committee last month.=20 The state has agreements in principle on an additional 19 contracts for 12= 70=20 megawatts from renewable sources. Most of the power 1172 megawatts would= =20 come from wind generation.=20 Anything could happen said Oscar Hidalgo a Water Resources spokesman. = It=20 could increase or decrease depending on what gets signed.=20 One renewable generator CalEnergy said the state rejected its offer to=20 provide 340 megawatts from a geothermal plant in the Imperial Valley for 20= =20 years at 6.9 cents per kilowatt-hour a price that is said to be the 10-yea= r=20 average of the state contracts.=20 We were astonished said Jonathan Weisgall CalEnergy vice president.=20 Hidalgo said state power purchasers don't recall the specifics of the=20 CalEnergy offer. He said the proposal may have been rejected because of its= =20 length the time of the power delivery or other reasons.=20 They may have to regroup restructure repackage and look for what we=20 want Hidalgo said.=20 Under deregulation part of monthly ratepayer bills were earmarked for a fu= nd=20 to encourage renewable energy sources. The fund provides five-year incentiv= es=20 of up to 1.5 cents per kilowatt hour.=20 The state held auctions in 1998 and again last summer that awarded $202=20 million in incentives for dozens of new small renewable plants that could= =20 produce about 1000 megawatts. The average incentive was .4 cents per=20 kilowatt hour.=20 But at this point said Marwan Masri of the California Energy Commission= =20 only plants capable of producing 180 megawatts have been completed.=20 There is the overall issue of who will buy the power said Masri and at= =20 what price and for how long.=20 A firm that specialized in marketing green power from renewable sources f= or=20 the environmentally conscious has taken a double hit from the electricity= =20 crisis.=20 Green Mountain Energy of Austin Texas. sells power to customers in a part= =20 of deregulation that is often called direct access which bypassed=20 utilities and later the state after it began buying power for utility=20 customers.=20 The firm canceled contracts with 50000 customers because the price was=20 indexed to the state Power Exchange which went bankrupt last spring after= =20 the debt-ridden utilities defaulted on their debt.=20 Green Mountain still has contracts with about 7000 customers in San Diego= =20 County who receive power under contracts at a fixed rate 8.5 cents per=20 kilowatt-hour.=20 The state Public Utilities Commission is still expected to prohibit future= =20 direct-access contracts a step directed by the legislation authorizing the= =20 state to buy power for utility customers.=20 That was the second blow to us said Rick Counihan of Green Mountain. It= =20 meant that we couldn't go out and buy a block of fixed-price power to sell = to=20 customers.=20 The ban on direct-access contracts is vigorously opposed by business groups= =20 who say that direct access would lower the cost of doing business in=20 California.=20 But supporters of the direct-access ban say that if customers bypass the=20 utilities the remaining ratepayers will be stuck with paying off a bond of= =20 up to $13.4 billion that is expected to be issued in September for power=20 costs.=20 Despite the problems some representatives of the renewable energy industry= =20 are optimistic about its potential for growth in the future.=20 A lot of the market is being served by rapidly aging power plants that=20 should be replaced said Jan Smutny-Jones of the Independent Energy=20 Producers. I think we also are going to see additional demand.=20 Moreover state government may take more steps to encourage the renewable= =20 industry.=20 The Energy Commission is proposing a goal for the incentive program that=20 would increase the amount of power coming from renewable sources to 17=20 percent of the total by 2006 up from 12 percent.=20 State Sen. Byron Sher D-Stanford has introduced a bill SB 531 that woul= d=20 set a goal of increasing the renewable share of state power to 20 percent b= y=20 2010. SDG&E spreads word of looming blackouts=20 By Jeff McDonald=20 UNION-TRIBUNE STAFF WRITER=20 July 4 2001=20 While power supplies dwindled and the likelihood of blackouts loomed San= =20 Diego Gas & Electric Co. for the first time yesterday was able to warn=20 customers in advance that they might go dark.=20 Under increasing pressure from businesses and residents SDG&E launched a n= ew=20 system to notify customers by pager and e-mail whenever the state declares= =20 supply emergencies that might lead to blackouts.=20 Some 5000 customers signed up for the warnings which ended up being false= =20 alarms by midafternoon when the Independent System Operator which manages= =20 the state's electricity grid was able to find enough megawatts to avoid th= e=20 first blackouts since May.=20 This at least gives people the opportunity to make a switch over to backup= =20 generation to power down essential equipment or to back up critical files= =20 SDG&E spokesman Ed Van Herik said.=20 It's definitely an improvement but we'll certainly look for ways to=20 increase the effectiveness of the notification process.=20 Even so the warnings from SDG&E came barely an hour before the ISO was=20 expected to issue a Stage 3 power alert meaning that demand had climbed to= =20 within 1.5 percent of available supplies. As it turned out the state never= =20 rose above a Stage 2 alert.=20 As the threat of blackouts continues to vex state power officials early=20 warnings about potential outages have become a key issue for businesses and= =20 residents who rely on uninterrupted service.=20 During blackouts earlier this year darkened traffic lights caused numerous= =20 accidents people were stranded in elevators and business owners complained= =20 of losses that could have been minimized.=20 Regular notification is a good idea said Samuel Ingersoll-Weng of the Sa= n=20 Diego Community Technology Group which works with hundreds of local=20 organizations to promote computer literacy.=20 It would be very helpful in terms of scheduling staff canceling or holdin= g=20 classes and also to protect equipment from power spikes or suddenly being= =20 shut off he said.=20 For most of the year SDG&E was telephoning a small number of such customer= s=20 on mornings they worried that demand for electricity might exceed supplies.= =20 But the problem is that when orders to pull megawatts from the grid come fr= om=20 the ISO the utility has only minutes to cut supplies and there has been=20 little time to warn people they may lose power.=20 Yesterday SDG&E was told 90 minutes ahead of time that a Stage 3 warning= =20 would likely be called at 3 p.m. The company issued the mass e-mails and=20 pages within 30 minutes.=20 Gov. Gray Davis announced plans this spring to provide neighborhoods 48-= =20 24-and 1-hour notices when blackout orders might be called. The ISO issued = no=20 such notice yesterday when it came the closest it had in weeks to ordering= =20 blackouts.=20 Ratepayers interested in signing up to be notified early of potential=20 blackouts can call the utility at (800) 411-SDGE.=20 Two more energy whistleblowers slated to come forward=20 By Don Thompson ASSOCIATED PRESS=20 July 4 2001=20 SACRAMENTO =01) Two more former workers at a San Diego-area Duke Energy pla= nt=20 are slated to talk with state investigators Thursday echoing concerns by= =20 other employees over how the plant was run when the state needed its power= =20 most.=20 However another former worker at the Chula Vista plant said he discarded= =20 perfectly good equipment three to five years ago while the plant was still= =20 owned by San Diego Gas and Electric.=20 Stuff that cost $3- to $5000 we were throwing away said Don Perkins of= =20 Alpine a mechanic at SDG&E plants for nearly 25 years.=20 That undercuts testimony from other former workers who told the Senate Sele= ct=20 Committee to Investigate Price Manipulation of the Wholesale Energy Market= =20 last month that they discarded valuable repair parts on the orders of Duke= =20 supervisors.=20 Like the other former SDG&E employees who have come forward Perkins was no= t=20 hired by Duke when it took over full operation of the plant in April. Perki= ns=20 said he is happy in retirement but like his former co-workers believes Duk= e=20 was driving up energy prices =01) which the company vehemently denies.=20 He and the three other former workers suggested Duke did not adequately=20 maintain its equipment leading to unnecessary repairs they said cut power= =20 generation and may have helped boost prices by cutting supply. That include= d=20 running a 15-megawatt jet-fuel fired turbine until it broke down.=20 We ran the heck out of the plant you bet we didresponded Duke spokesman= =20 Tom Williams. But he said the plant had fewer outages under Duke's ownershi= p=20 than while it was owned by SDG&E.=20 Duke eventually had to completely rebuild the jet-fuel fired turbine=20 Williams said.=20 It ran more last year than the previous 37 years combined because the sta= te=20 needed the power Williams said.=20 An attorney for Lt. Gov. Cruz Bustamante who is to introduce the two new= =20 whistleblowers Thursday said they will echo their co-workers complaints th= at=20 maintenance slipped once Duke took over the plant.=20 Williams dismissed the news conference as a media event and the workers'= =20 complaints as old news the company has rebutted since the earlier testimony= =20 before the committee.=20 Disabled PG&E employees ask state for help in getting disability checks=20 ASSOCIATED PRESS=20 July 4 2001=20 SAN FRANCISCO =01) After not receiving checks for work-related disabilities= for=20 months more than 200 Pacific Gas and Electric Co. employees have asked the= =20 state to take over their disability payments.=20 The employees stopped getting checks after Pacific Service Employees=20 Association sent them a letter saying it did not have enough funds. Until= =20 this year the association had paid almost all of PG&E's disability claims.= =20 PG&E said it has no legal responsibility to help the disabled workers and= =20 blames the employee association. But workers waiting for their payments=20 disagree.=20 The association and PG&E are one and the same A.J. Cavallaro an=20 electrical engineer with PG&E for 25 years who is on disability leave due t= o=20 a sleep disorder told the San Francisco Chronicle.=20 Originally created by PG&E workers to organize social events the associati= on=20 has its own board of directors and is legally separate from the utility and= =20 its parent company. The association began offering a short-term disability= =20 plan to PG&E workers in 1949.=20 Pacific Service transferred its members to the State Disability Insurance= =20 plan on Jan. 1. But about 230 PG&E workers decided to stay with the=20 association's plan after they were told they would continue to receive thei= r=20 disability checks.=20 Mike Colon the association's general manager filed an appeal with the=20 California Unemployment Insurance Appeals Board for the state to take over= =20 the group's payments.=20 Ralph Hilton chief counsel for the appeals board in Sacramento said that = if=20 the board decides the state should take over the payments checks would be= =20 issued within days of the ruling.=20 Workers may have to wait until August for the case to be heard.=20 National Desk=20 THE NATION Powerful Judge Illuminates Energy Practices Law: 'Folksy' jurist= =20 72 stuns utility executives and lawyers alike with his courtroom=20 incisiveness. RICARDO ALONSO-ZALDIVAR ?=20 07/05/2001=20 Los Angeles Times=20 Home Edition=20 Page A-12=20 Copyright 2001 / The Times Mirror Company=20 WASHINGTON -- The silver-haired judge handling federal negotiations on=20 refunds for alleged overcharges by power generators in California is often= =20 described as a Southern gentleman.=20 But Curtis L. Wagner Jr. can lose the folksy charm in a New York minute.=20 Wagner chief judge of the Federal Energy Regulatory Commission showed his= =20 knack for cutting through nonsense when he tangled with a smooth energy=20 company executive in his hearing room in May. The executive confidently=20 insisted he didn't need his boss' approval to enter into a $39-million=20 natural gas transportation deal.=20 Wagner didn't buy it.=20 I'm appalled that you're trying to pull this over my eyes intoned the=20 judge stunning a courtroom of high-priced lawyers into catatonic silence.= =20 Just answer my question . . .=20 Did you get approval . . . whether you got it after the meeting whether y= ou=20 got it the day before whether you got it in the head while you were both= =20 relieving yourselves?=20 Added Wagner owner of a 32-foot sailboat named Hizzoner: The head for= =20 non-boating people is the restroom.=20 Visibly squirming the witness acknowledged that his boss had in fact OKd= =20 the deal.=20 That kind of mettle prompted FERC's governing board to assign the overcharg= e=20 settlement case to the 72-year-old judge who likes to stay in shape by=20 attending early-morning aerobics classes in the agency's exercise room. I= =20 think Judge Wagner is the toughest tool in our toolbox said FERC=20 Commissioner Patrick H. Wood III.=20 Expectations are low that anybody can bridge the chasm between California a= nd=20 electricity generators and marketers with the state alleging it was gouged= =20 by $9 billion and the companies muttering about governmental extortion.=20 There are some very large numbers being talked about which makes it=20 unlikely that the companies would want to agree to a settlement said Kit= =20 Konolidge an electricity industry analyst with Morgan Stanley in New York.= =20 But in an interview Wagner said he feels pretty good about the chances. = I=20 never give up until the very end. With these things it looks impossible a= nd=20 then all of a sudden it comes together.=20 FERC the equivalent of a national utility commission is also dangling som= e=20 carrots in front of the parties. Along with refunds Wagner is trying to ge= t=20 a deal on long-term contracts for power and guarantees that the generators= =20 which are owed hundreds of millions of dollars will be paid.=20 The commission set a short time frame for the negotiations which are to=20 conclude Monday. If a settlement is not reachable FERC would impose its ow= n=20 solution. A mandated settlement is likely to be challenged in federal court= =20 where it could bog down for years.=20 FERC employs more than a dozen administrative law judges like Wagner to hea= r=20 disputes involving the companies it regulates. While presiding over the=20 closed-door settlement talks Wagner has traded his robes for a business=20 suit.=20 He has come down from the bench and sits at a table eye-level with more th= an=20 140 lawyers in his hearing room. There's a lot of billable hours there h= e=20 said.=20 The lawyers have been sorted into three big working groups representing=20 state agencies power sellers and energy marketers. The negotiations are=20 expected to intensify this week and participants said Wagner admonished al= l=20 sides on Friday to be ready to deal or face summary judgment from the FERC= =20 commission.=20 The judge has been variously quoted as saying that $1 billion $2 billion o= r=20 $2.5 billion might be an appropriate total refund. None of those [figures]= =20 are really attributable to me. I did make a statement--and I probably=20 shouldn't have--that it was probably less than $9 billion. Of the $9 billi= on=20 in overcharges claimed by the state only $5.4 billion is attributable to= =20 sellers within FERC's jurisdiction.=20 James J. Hoecker immediate past FERC chairman in the Clinton administratio= n=20 said that in 23 years as chief judge Wagner has built a reputation for=20 making things happen in difficult situations.=20 What is behind that is a lot of years on the bench and a certain amount of= =20 self-confidence Hoecker said. He has the ability . . . to move the parti= es=20 closer together. Sometimes that requires some fairly dramatic statements= =20 which are calculated to get people to feel the heat and get more creative= =20 about the flexibility they might have.=20 A senior FERC official said Wagner is like a pitcher who gets called from t= he=20 bullpen when the game is on the line. When things are tough we turn stuff= =20 over to Curtis said the official who asked not to be identified.=20 Wagner has had many big cases over the years on matters too arcane to garn= er=20 national attention.=20 He is handling a second major case before FERC. It involves allegations tha= t=20 Houston-based El Paso Corp. manipulated California 's natural gas market la= st=20 year thereby adding an estimated $3.7 billion to the state's energy costs.= =20 It was in that case that he grilled the executive.=20 Success in the California settlement negotiations would cap Wagner's 47th= =20 year as a government lawyer. The Tennessee native started at the Justice=20 Department on Aug. 2 1954. He got into regulatory law by representing the= =20 military in railroad disputes arising from the Korean War. After serving as= a=20 civilian lawyer for the Army for more than a decade he joined FERC's=20 predecessor agency in 1974.=20 But Wagner a widower doesn't dwell on his place in the annals of FERC. He= =20 tells agency employees he is working too many hours and missing his aerobic= s=20 classes.=20 Davis lauds California generator=20 Vote of confidence at Calpine's festival=20 Suzanne Herel Chronicle Staff Writer Thursday July 5 2001=20 2001 San Francisco Chronicle=20 URL:=20 /05/M N166801.DTL=20 Gov. Gray Davis took the stage at the San Jose America Festival yesterday a= nd=20 pledged to keep the lights on -- with the help of the Calpine energy=20 company which sponsored the fete.=20 You've heard me say some pretty tough things about out-of-state energy=20 companies trying to bleed us dry said Davis standing against the backdro= p=20 of a huge Calpine banner proclaiming Reliable Energy for a Brighter=20 Future.=20 Calpine is from California he said. They're going to make sure the ligh= ts=20 stay on.=20 Davis was a surprise guest sandwiched between musical acts Nina Storey and= =20 John Brown's Body during the daylong Fourth of July festival which feature= d=20 music food and vendors near the San Jose Airport.=20 The governor thanked the crowd of at least 1000 for joining other=20 Californians in conserving energy. Conservation surpassed the 10 percent ma= rk=20 statewide in May and June he said.=20 We could not get through the summer without you doing your part he said.= =20 Davis was introduced by Calpine chief executive Peter Cartwright -- whose= =20 multimillion-dollar stock option cash-in made news last month -- and San Jo= se=20 Mayor Ron Gonzalez who unsuccessfully opposed Calpine's planned 600-megawa= tt=20 Metcalf Energy Center in Coyote Valley.=20 In an interview after his appearance Davis countered criticism leveled at= =20 him this week by State Controller Kathleen Connell who accused him of=20 foolishly locking California into expensive long-term energy contracts.=20 You have to look at the total cost of electricity he said.=20 The state paid $109 million in May he said but that cost dropped to about= =20 $33 million last month.=20 Earlier yesterday after walking in the Redwood City Fourth of July parade= =20 Davis said that the price drop was a direct result of the long-term=20 contracts.=20 That would not have happened without the security and stability of long-= =20 term contracts he said. We did the right thing.=20 In San Jose he also said that the $15 million the state was paying=20 consultants to help negotiate power contracts was money well spent.=20 Before it was like the Yankees winning the World Series against the sandl= ot=20 baseball team he said. We're finally getting some stars on our team. = =20 E-mail Suzanne Herel at [email protected].=20 2001 San Francisco Chronicle ? Page?A - 2=20 Activists stage anti-corporate march to power plant=20 GISELE DURHAM Associated Press Writer Wednesday July 4 2001=20 2001 Associated Press=20 URL:=20 tate2 024EDT0201.DTL=20 (07-04) 17:24 PDT LONG BEACH Calif. (AP) --=20 Consumer activists rallied against rising energy prices and pledged their= =20 independence from corporate tyrants amid Fourth of July celebrations=20 Wednesday.=20 About 200 people carrying signs reading public power not corporate=20 bailout and human need not corporate greed marched two miles from a loc= al=20 park in the Los Angeles suburb to the Alamitos generating station.=20 We feel we have been gouged and bled dry said Medea Benjamin founding= =20 director of Global Exchange a San Francisco-based consumer advocacy group.= =20 We've been treated the way tyrants treat their servants.=20 The protest was a joint effort of several national and local consumer=20 activist organizations. No arrests were made although dozens of police=20 officers were out in force for crowd control.=20 Earlier this week a federal judge issued a temporary restraining order=20 preventing the city from enforcing an ordinance that could have blocked the= =20 march.=20 The law requires organizers of public protests to give 30 days notice of th= e=20 event post an insurance bond and pay for police protection at the rate of= =20 $55 per hour for each officer.=20 At the plant organizers had intended to serve officials with a notice of= =20 seizure by eminent domain declaring the facility to be public property. Bu= t=20 nobody appeared at the front gate. The demonstrators posted the notice on t= he=20 chain-link fence and staged about a 40-minute rally before dispersing.=20 The symbolic notice was meant to emphasize the groups' discontent with=20 skyrocketing power prices during the past year the use of state budget mon= ey=20 for power purchases and the activists' desire to have the state take over= =20 power plants to stabilize market prices.=20 The money they're making off of us is criminal said Loni Baker one of t= he=20 marchers. They're greed is taking money away from our kids' schools.=20 Representatives of Arlington Va.-based AES Corp. which owns the plant d= id=20 not immediately return calls seeking comment.=20 Last month the U.S. Justice Department opened an antitrust investigation= =20 into a power sales partnership between AES and Williams Energy the Tulsa= =20 Okla.-based company that sells power for AES under an exclusive marketing= =20 agreement.=20 Both companies have denied wrongdoing but in May Williams agreed to refund= =20 $8 million after the Federal Energy Regulatory Commission accused of the=20 company of temporarily closing AES plants to drive up power prices.=20 Davis asks PUC to let utilities cut voltage=20 1% savings on energy consumption predicted=20 David Perlman Chronicle Science Editor Wednesday July 4 2001=20 2001 San Francisco Chronicle=20 URL:=20 /04/M N29133.DTL=20 Gov. Gray Davis asked the Public Utilities Commission yesterday to allow=20 electric companies to lower voltage levels on power lines delivering=20 electricity to consumers this summer.=20 The move will save about 1 percent in the state's electricity consumption= =20 the equivalent of building a new 500-megawatt power plant.=20 Lowering voltages by 2.5 percent will prove barely noticeable by domestic= =20 users who might see their incandescent light bulbs dim slightly.=20 Refrigerators and electric motors such as those that run air conditioners= =20 should operate more efficiently on the lower voltages experts said.=20 The move should save consumers about 1 percent on their electricity bills= =20 according to Energy Commissioner Arthur Rosenfeld.=20 With support already promised by the state's major power companies the PUC= =20 is expected to approve the change in its voltage rules within weeks Robert= =20 Kinosian energy adviser to PUC President Loretta Lynch said at a Sacramen= to=20 press conference.=20 Similar voltage decreases have gone into effect in several other states=20 during power emergencies in recent years Rosenfeld said. But this is the= =20 first time it will occur statewide throughout an entire period of peak powe= r=20 demand.=20 PUC rules now require power companies to deliver between 114 and 126 volts = to=20 consumers all the time.=20 Less than two months ago Bill Wattenburg a maverick engineer and longtime= =20 consultant to the Lawrence Livermore National Laboratory assembled a team = to=20 test the effects on lights appliances microwave ovens and motors operatin= g=20 at voltages that were lowered by 5 percent or more.=20 At the press conference yesterday Wattenburg said those tests -- conducted= =20 with utility company senior engineers -- showed that no devices were damage= d=20 nor was their performance impaired. But cooking food on electric ranges --= =20 whether boiling water or making a roast reach a given temperature -- would= =20 take longer and consume slightly more power under any lowered voltage he= =20 said.=20 John Ballance director of network engineering at Southern California Ediso= n=20 said his company is equipped to control its voltage levels electronically a= nd=20 can lower them as soon as the PUC approves the change.=20 But Pacific Gas & Electric Co. operates differently and will have to change= =20 its voltage levels at each of its 2400 substations individually -- a task= =20 that could take several weeks Rosenfeld said.=20 This proposal may well achieve new efficiencies and reduce electric bills= =20 for California ratepayers Davis said in a statement. I urge the PUC to= =20 give it serious consideration.=20 E-mail David Perlman at [email protected].=20 2001 San Francisco Chronicle ? Page?A - 13=20 Federal price limits backfire=20 Some generators withhold power rather than abide by rate caps=20 David Lazarus Chronicle Staff Writer Wednesday July 4 2001=20 2001 San Francisco Chronicle=20 URL:=20 /04/M N186091.DTL=20 Officials in California and Nevada after months of lobbying for federal=20 regulators to cap Western power prices warned yesterday that the newly=20 imposed limits have had the unintended consequence of increasing a threat o= f=20 blackouts in the two states.=20 The warnings were issued as California came within minutes of rolling=20 blackouts yesterday afternoon and one day after the first-ever rolling=20 blackouts in Las Vegas forced energy-hungry casinos to shut off fountains a= nd=20 reduce air conditioning.=20 The two states are asking the Federal Energy Regulatory Commission to take = a=20 closer look at the so-called price mitigation plan and come up with revisio= ns=20 that would deter power companies from withholding electricity during=20 shortages.=20 We need some clarity to this order said Oscar Hidalgo a spokesman for t= he=20 California Department of Water Resources which is spending billions of=20 dollars to keep the state's lights on.=20 Generators need to be held accountable he said.=20 The crux of the problem is that price limits kick in during shortages yet= =20 power companies say these caps force them to sell power at below-market rat= es=20 during periods of high demand.=20 Some companies have responded by holding back power rather than face the=20 expense of shipping electricity from state to state. Each mile that=20 electricity must be transmitted adds to the overall cost.=20 No one's going to pay for transmission if the cost is near the caps said= =20 Gary Ackerman executive director of the Western Power Trading Forum an=20 energy-industry association in Menlo Park.=20 Ackerman said several companies in his organization decided that there was = no=20 economic advantage to offering power in regional markets when price control= s=20 are in effect.=20 This means individual regions like California or Las Vegas could end up no= t=20 having enough Ackerman said. It increases the threat of blackouts.=20 BLACKOUT ALERT CANCELED California authorities issued a blackout alert at 1:45 p.m. yesterday when= =20 power reserves dipped to dangerously low levels. They canceled the alert=20 about an hour later after finding additional supplies.=20 Everyone in the West is fighting for megawatts said Stephanie McCorkle = a=20 spokeswoman for the California Independent System Operator which oversees= =20 the state's power network.=20 The Golden State's latest brush with lights-out conditions came a day after= =20 Nevada experienced its own rolling blackouts for the first time prompting= =20 heavy power users such as the MGM Grand and Caesars Palace to dim their=20 lights.=20 Don Soderberg chairman of the Nevada Public Utilities Commission said tha= t=20 the sudden power emergency took state authorities by surprise and that they= =20 are investigating to see what role the federal price limits may have had in= =20 exacerbating Monday's shortage.=20 We're looking very closely at this he said. There seems to be a potenti= al=20 for unintended consequences.=20 Specifically Soderberg said Nevada is focusing on operators of older less= -=20 efficient plants who would find profit margins shrinking if not vanishing= =20 under capped prices.=20 We're going to see how the caps might have played into this he said.=20 The federal ceiling in 10 Western states excluding California is about $9= 2=20 per megawatt hour. In California a 10 percent surcharge is added because o= f=20 the state's credit risk bringing the price to just over $101.=20 Ackerman at the Western Power Trading Forum said regional price controls ha= ve=20 extended California's power crisis to neighboring states.=20 California sneezed and the rest of the region caught the virus he said.= =20 'LAWYERS LOOKING FOR LOOPHOLES'=20 California and Nevada officials however said that they still have faith= =20 that price limits can stabilize Western electricity markets but that federa= l=20 regulators may have to tweak the system so that power companies cannot=20 withhold output.=20 The generators have banks of lawyers looking for loopholes (in the plan)= =20 said Hidalgo at the Department of Water Resources.=20 Unfortunately it may take some time for the regulators to revisit an issue= =20 that they took up only with the greatest reluctance. For months federal=20 regulators refused to impose price controls preferring instead to let supp= ly=20 and demand determine costs.=20 Hidalgo said that when it appeared that power companies were throttling bac= k=20 on output Monday California officials immediately dialed the hot line numb= er=20 provided by the Federal Energy Regulatory Commission in case of emergencies= .=20 No one answered he said. They were closed.=20 State officials tried again yesterday and this time were told that the=20 commission would look into the matter. They were not given a time frame for= =20 when the commission might come up with a response.=20 E-mail David Lazarus at [email protected].=20 2001 San Francisco Chronicle ? Page?A - 1=20 Two more energy whistleblowers slated to come forward=20 DON THOMPSON Associated Press Writer Wednesday July 4 2001=20 2001 Associated Press=20 URL:=20 tate0 336EDT0118.DTL=20 (07-04) 00:36 PDT SACRAMENTO (AP) --=20 Two more former workers at a San Diego-area Duke Energy plant are slated to= =20 talk with state investigators Thursday echoing concerns by other employees= =20 over how the plant was run when the state needed its power most.=20 However another former worker at the Chula Vista plant said he discarded= =20 perfectly good equipment three to five years ago while the plant was still= =20 owned by San Diego Gas and Electric.=20 Stuff that cost $3- to $5000 we were throwing away said Don Perkins of= =20 Alpine a mechanic at SDG&E plants for nearly 25 years.=20 That undercuts testimony from other former workers who told the Senate Sele= ct=20 Committee to Investigate Price Manipulation of the Wholesale Energy Market= =20 last month that they discarded valuable repair parts on the orders of Duke= =20 supervisors.=20 Like the other former SDG&E employees who have come forward Perkins was no= t=20 hired by Duke when it took over full operation of the plant in April. Perki= ns=20 said he is happy in retirement but like his former co-workers believes Duk= e=20 was driving up energy prices -- which the company vehemently denies.=20 He and the three other former workers suggested Duke did not adequately=20 maintain its equipment leading to unnecessary repairs they said cut power= =20 generation and may have helped boost prices by cutting supply. That include= d=20 running a 15-megawatt jet-fuel fired turbine until it broke down.=20 We ran the heck out of the plant you bet we didresponded Duke spokesman= =20 Tom Williams. But he said the plant had fewer outages under Duke's ownershi= p=20 than while it was owned by SDG&E.=20 Duke eventually had to completely rebuild the jet-fuel fired turbine=20 Williams said.=20 It ran more last year than the previous 37 years combined because the sta= te=20 needed the power Williams said.=20 An attorney for Lt. Gov. Cruz Bustamante who is to introduce the two new= =20 whistleblowers Thursday said they will echo their co-workers complaints th= at=20 maintenance slipped once Duke took over the plant.=20 Williams dismissed the news conference as a media event and the workers'= =20 complaints as old news the company has rebutted since the earlier testimony= =20 before the committee.=20 2001 Associated Press ?=20 Davis seeking cheaper contracts=20 Posted at 10:33 p.m. PDT Wednesday July 4 2001=20 BY JOHN WOOLFOLK=20 Mercury News=20 California officials are asking energy companies for better deals on the=20 state's long-term power contracts as a way to settle a dispute over billion= s=20 of dollars in electricity costs from the past year Gov. Gray Davis said=20 Wednesday.=20 In closed-door Washington D.C. settlement talks scheduled to conclude=20 Monday state officials are demanding that energy companies forgo $8.9=20 billion in bills for electricity that the state argues was overpriced.=20 But Davis during a San Jose visit Wednesday said the state would consider= =20 accepting some of that refund in the form of cheaper long-term contracts a= =20 move that could appease critics who say the $43 billion deals cost far too= =20 much.=20 The governor's comments shed light on the state's bargaining strategy in th= e=20 negotiations. Few details have emerged from the talks since the judge=20 overseeing them imposed a gag order.=20 ``We've made suggestions we've offered various ways in which people could= =20 get us $8.9 billion'' Davis said. ``We've said it doesn't have to be all= =20 cash. You can give it to us in lower contract prices than you otherwise wou= ld=20 have given to us. You can renegotiate our existing contracts and save us=20 money. However you want to do it it's just got to net out to $8.9 billion.= ''=20 It's unclear how those offers have been received by energy suppliers who= =20 have insisted their prices were fair given the uncertainty over whether the= y=20 would ever get paid. Several major companies including Duke Energy and=20 Enron say they're owed millions of dollars from the state and its major=20 utilities.=20 Paula Hall-Collins a spokeswoman for Williams Companies which signed=20 several contracts with the state in February to deliver power over the next= =20 10 years said she could not comment.=20 But one industry official said it was encouraging to see the governor show= =20 some flexibility and that the concept seems reasonable.=20 ``We take that as a positive'' said Gary Ackerman executive director of t= he=20 Western Power Trading Forum a trade association. ``If he wants to talk som= e=20 trade-off in renegotiating the contracts that doesn't seem to be totally o= ut=20 of hand. We're not going to turn away any serious offer.''=20 But Ackerman said the state needs to give a little on its refund target.=20 The $8.9 billion a figure estimated by the state's power grid analysts for= =20 sales from May 2000 to May 2001 has been widely challenged by industry=20 leaders. Even the judge overseeing the settlement talks said it's probably= =20 too high.=20 ``I don't think it serves the state of California for the state to hold fas= t=20 to a number any more than it does for my members to do the same'' Ackerma= n=20 said. ``It just doesn't get to a solution. There's got to be some give and= =20 take and we certainly haven't heard that until now from the governor.''=20 The state began buying electricity in January for its largest utilities aft= er=20 they became so saddled with debt from high power prices that energy compani= es=20 refused to sell to them. The state has spent about $8 billion since then in= =20 daily and short-term purchases.=20 The Davis administration signed $43 billion worth of electricity contracts= =20 with 18 energy suppliers for power over the next 10 years and has dozens of= =20 deals pending. The contracts are aimed at lowering the amount of power the= =20 state has to buy in daily markets where prices have soared.=20 Davis has credited the contracts with lowering the state's power costs from= =20 $100 million a day or more in May to about $33 million a day. His chief=20 energy negotiator S.?David Freeman has said he's proud of the contracts.= =20 But Davis has faced blistering criticism about the deals from Republican=20 lawmakers state Controller Kathleen Connell and consumer advocates who sa= y=20 the contracts will soak consumers with high electricity prices for many=20 years.=20 Davis initially sought contracts at prices around $55 per megawatt-hour bu= t=20 the deals signed so far average $70 per megawatt-hour.=20 That was a bargain earlier this year when daily prices averaged more than= =20 $200 per megawatt-hour. But average daily prices have since fallen to $89= =20 during peak hours and as low as $56 during low-demand periods.=20 The average daily price in 1999 was about $30 per megawatt-hour.=20 If the state and power suppliers cannot reach an agreement by Monday they= =20 can request an additional 10 days. Otherwise the judge will recommend a=20 settlement and the five-member Federal Energy Regulatory Commission will vo= te=20 on it.=20 So far the two sides still seem far apart.=20 ``It's very very difficult'' said Davis who named the state's negotiator= s=20 to the Washington talks. ``We'll see on Monday whether or not agreements ar= e=20 made. My hope is that a settlement will be reached. It's possible one will= =20 be.''=20 Contact John Woolfolk at [email protected] or (408) 278-3410.=20
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Subject:: COMPENSATION
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Subject:: recent developments
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Subject:: Letter to Lynch from Us Describing Info ISO should release sooner
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Subject:: Re: Senator Dunn Hearing
Body:: Can you circulate the link to Cal TV again? Scott Govenar <[email protected]> on 07/16/2001 01:58:41 PM Please respond to <[email protected]> To: Ban Sharma <[email protected]> David Leboe <[email protected]> Eric Letke <[email protected]> Jennifer Thome <[email protected]> Ken Smith <[email protected]> Bev Hansen <[email protected]> Hedy Govenar <[email protected]> Miyung Buster <[email protected]> Janel Guerrero <[email protected]> Robert Frank <[email protected]> Mike Day <[email protected]> Leslie Lawner <[email protected]> Harry. Kingerski@enron. com <[email protected]> Karen Denne <[email protected]> Steven Kean <[email protected]> Alan Comnes <[email protected]> Susan J Mara <[email protected]> Paul Kaufman <[email protected]> Jeff Dasovich <[email protected]> Jim Steffes <[email protected]> Rick Shapiro <[email protected]> cc: Subject: Senator Dunn Hearing THE SELECT COMMITTEE TO INVESTIGATE PRICE MANIPULATION OF THE WHOLESALE ENERGY MARKET WILL MEET ON WEDNESDAY JULY 18 AT 9:30 A.M. IN ROOM 3191 TO REVIEW COMPLIANCE WITH SUBPOENAS FOR DUKE DYNEGY RELIANT AES NRG AND WILLIAMS.
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Subject:: Enron Mentions - 05/03/01
Body:: ENRON PLANT HEARING PLANNED FOR TONIGHT South Florida Sun-Sentinel 05/03/01 Would buying boycott help lower California's electricity bill? Associated Press Newswires 05/03/01 INDIA: Indian banks appeal to govt to help end Enron row Reuters 05/03/01 DNC: Special Interests Write Bush Energy Policy PR Newswire 05/03/01 UK: INTERVIEW-Innogy starts trading power in mainland Europe Reuters 05/03/01 Mosaic Group posts strong first quarter results Canada NewsWire 05/03/01 European Phone Companies' Outlook Brightens: Rates of Return Bloomberg 05/03/01 UK:Corporates warm to charms of credit derivatives Reuters 05/03/01 Allegheny Energy buys three power plants Associated Press 05/03/01 Allegheny Energy Buys Midwest Capacity From Enron Unit Dow Jones 05/03/01 Allegheny Energy Supply Completes Purchase of Midwest Assets Adds 1700 MW to Growing Generation Fleet Business Wire 05/03/01 SSB Cuts Forecast For Power Profitability In 2002 Beyond Dow Jones 05/03/01 Fitch Affs Northern Border Rtg Outlook To Stable From Negative Business Wire 05/03/01 INDIA: UPDATE 1-Enron to meet govt panel over Indian project Reuters 05/03/01 India State Panel's Sat Meet With Enron Unit Postponed Dow Jones 05/03/01 EnergieKontor Secures Enron Deal For Spain Germany Projs Dow Jones 05/03/01 The Bottom Line: Scottish Power Looks To Refine Focus Dow Jones 05/03/01 LOCAL ENRON PLANT HEARING PLANNED FOR TONIGHT Staff Reports 05/03/2001 South Florida Sun-Sentinel Broward Metro 3B (Copyright 2001 by the Sun-Sentinel) Pompano Beach A town meeting will be held tonight on Enron Corp.'s power plant proposal for Pompano Beach. Called by Commissioner Kay McGinn the meeting will be open to anyone who wants to speak. The City Commission is to vote Tuesday on whether to approve a zoning variance for the project. The meeting will be held at 7 p.m. at the Pompano Beach Civic Center 1801 NE 6th St. Would buying boycott help lower California's electricity bill? By MICHAEL LIEDTKE AP Business Writer 05/03/2001 Associated Press Newswires Copyright 2001. The Associated Press. All Rights Reserved. SAN FRANCISCO (AP) - There's a limit to how much people will pay for most things in life. If the cost scares off enough buyers prices eventually fall. So what would happen if this textbook example from Economics 101 were applied to California's electricity crisis? What if the state officials struggling to maintain energy supplies simply refused to buy power above a certain price and accepted more blackouts this summer? The question would have been absurd just a few months ago and even now the notion seems surreal given the possible consequences. Inviting even more blackouts inevitably would hurt businesses and frustrate consumers threatening to further depress California's already slumping economy - the sixth largest in the world. But desperate times require drastic measures according to the economists lawmakers and activists who believe the state will be better off sitting in the dark than buying electricity at any price during a summer shortage likely to produce recurring blackouts anyway. It's better to use (blackouts) and break the (wholesale energy) cartel than simply to suffer them said Michael Shames executive director of the Utility Consumer Action Network a San Diego watchdog group. Refusing to buy enough power to keep the lights on would be like playing with fire counters Wells Fargo & Co. chief economist Sung Won Sohn. Blackouts aren't a just matter of inconvenience or being too hot or cold. They cost businesses a lot of money. Buying electricity at the last minute to meet the state's power needs already has cost the California government $5.7 billion in the past 3 1/2 months. The state energy bill for 2001 could reach $50 billion in money otherwise spent on education public safety and health care Shames said. Faced with the prospect of a significant budget deficit some lawmakers think it's time for California to take a stand against the power wholesalers - many of whom are based outside the state. This Tuesday the state Senate Energy Committee will consider authorizing the state to refuse to buy power above certain prices. Current law requires state electricity managers to avoid blackouts by buying all available power at any cost. We have been over a barrel in so many ways said Sen. Dede Alpert D-Coronado who sponsored SB73x. Maybe there's a point in the market where (we) just say no and go with the planned blackout strategy instead. Economists give the bill little chance of succeeding. It's never going to happen. It's not a viable option said University of California at Berkeley Professor Severin Borenstein one of the energy experts who have studied the idea. The business lost during blackouts would mean more layoffs in a state already skittish over the technology downturn and the looming Hollywood writers strike economists say. Other ripple effects include diminished gasoline supplies leading to even higher prices at the pump and distribution headaches that could leave store shelves bare. And some consumers - the elderly and the infirm for example need power at any price. Without electricity Manteca resident Betty Jarzemkoski said she wouldn't be able to help her ailing husband to get out of his motorized bed at home. It would be a real hardship for us said Jarzemkoski 78. I'm on a fixed income so I hope they can figure out something to bring down prices. But we need power. Despite such concerns the concept of a buyer's boycott hasn't been flatly ruled out - at least publicly - by Gov. Gray Davis as he struggles to reduce the state's staggering electricity bill. The state is spending as much as $90 million per day to meet California's electricity needs and the bleeding is sure to get worse. When the summer heat increases demand and tightens supplies California might spend more than $1 billion each week state officials estimate. Extended blackouts pose an even greater cost economists say. When Northern California suffered rolling blackouts for several hours Jan. 18-19 the economic losses totaled $2.3 billion mostly from lost profits and wages estimated the Los Angeles Economic Development Corp. Multiply that over several weeks across the entire state and it becomes apparent why it makes more sense for California to continue buying power at inflated prices even if leaves the state with deep debts and a ruined credit rating economists argue. As it is California probably won't be able to round up enough power at any price on some days this summer making some blackouts a virtual certainty. The blackouts will reduce the state's economic output by $2 billion to $16 billion according to a study released last month by the Bay Area Economic Forum. The resolve of the state's politicians and ratepayers would be sorely tested for a boycott to succeed much in the way that labor strikes boil down to whether workers or management can withstand more financial pain. Politicians aren't going to willingly turn out the lights because politicians want to get re-elected said Borenstein director of the University of California's energy institute. As soon as people start losing their jobs because the power is off the public will get tired of the blackouts real quick. Still Californians might tolerate an increase in blackouts if they understand why the state chose to pursue such a drastic course said Stanford economics Professor Frank Wolak who heads the Independent System Operator's market surveillance committee. This isn't something you could do without an enormous public relations campaign he said. The campaign would have to explain that the state had no other choice but to do this because (federal power regulators) aren't doing their job and enforcing the law against unjust and unreasonable prices. The largest out-of-state generators are in such robust financial shape that it might take weeks before they would feel such pain from a California boycott that they would be forced to lower prices. After making record profits last year power wholesalers Enron Reliant Dynegy Duke Energy Williams and Mirant and earned a combined $1.6 billion during the first three months of this year. --- On The Net: Bay Area Economic Forum report: Electric Power Research Institute: http://www.epri.com Utility Consumers' Action Network Report: INDIA: Indian banks appeal to govt to help end Enron row 05/03/2001 Reuters English News Service (C) Reuters Limited 2001. BOMBAY May 3 (Reuters) - Indian lenders to U.S. energy group Enron Corp's gas-fired power plant south of Bombay have appealed to the Indian government to help end the company's row with a state-owned electricity board over pricing and upaid bills. The board of Enron's Indian unit Dabhol Power Co (DPC) has authorised management to stop selling power to the Maharashtra State Electricity Board (MSEB) if a bitter dispute over pricing and unpaid bills cannot be resolved. In the past half year the MSEB has defaulted on bills for electricity supplied by Dabhol which operates the world's largest gas-fired plant on the west coast of India 160 kilometres (100 miles) south of Bombay. Indian financial institutions which contributed $1.4 billion towards the project in loans are pressing the government to help end the crisis a source told Reuters. We have asked the government for help. We are awaiting their reply the source who is employed with a large financial institution said. The domestic lenders to the project are Industrial Development Bank of India ICICI Ltd Industrial Finance Corporation of India Canara Bank and State Bank of India . The Dabhol Power Company (DPC) owned 65 percent by Enron last month took the major step of bailing out of the $2.9 billion power project citing non-payment of bills by the Maharashtra State Electricity Board (MSEB). The DPC board's move sparked widespread fears that India's image as a safe destination for foreign direct investment would be damaged. POWER STRUGGLE MSEB which is a state-owned utility has been a regular defaulter on payments to DPC saying that it finds the power too costly. It has also backed out on its commitment to buy more power to be produced by the project's second phase which is to begin operations later this year. Last month MSEB said it had paid Dabhol Power 1.34 billion rupees ($28.60 million) for electricity it bought in March. But the payment only partially resolves the total overdue amount of 2.26 billion rupees ($48.2 million) which Enron has been unable to collect even after invoking guarantees issued by the government of Maharashtra India's most industrialised state and the federal government. The state utility still owes Enron payments for power purchases in December and January. The Indian government has maintained that the contract must be renegotiated and has set up a committee to do so. We are concerned and would like the renegotiations to happen fast the source added. The dispute has raised fears that Enron could pull the plug on the project cease providing power to the local state electricity board and perhaps even sell the plant. The plant is good Maharashtra needs power and I am sure buyers can be found the source added. ($1=46.82 Indian rupees). DNC: Special Interests Write Bush Energy Policy 05/03/2001 PR Newswire (Copyright (c) 2001 PR Newswire) WASHINGTON May 3 /PRNewswire/ -- The Democratic National Committee issued the following today: Dick Cheney began dropping hints this week as to what the Bush energy policy will look like and it is long on oil and short on conservation. But something was missing from the coverage of Cheney's announcement: not just who benefits from the Bush plan but who's writing it as well. (Photo: ) It's hard to understate the influence big donors and high-ranking executives have with the Bush Administration. Take Tom Kuhn for example one of the energy executives who came calling when Bush was thinking about actually following through on his pledge to limit carbon dioxide levels. Kuhn a top Bush fundraiser also served on Bush's Energy Department transition advisory team and still enjoys access to the highest reaches of the Bush White House. Not surprisingly then the Big Oil Bush Administration's energy policy could not make Bush's huge donors and the special interests in the energy business any happier. Since the energy industry's problems are Bush's problems the first things on Bush's hit list are the environmental regulations that keep Big Energy in check -- and our country clean. With an energy executive running around the West Wing Bush's energy policy could be summed up as Drill anywhere anytime and keep those checks coming. The Democratic Party is committed to fighting for a balanced energy policy that keeps our country's priorities -- such as a clean environment -- in mind. To learn more about Bush's misplaced priorities and kowtows to the special interests keep reading to find out the Top Ten Paybacks To The Energy Industry and to see how you too can get on the Bush gravy train in Recipe for a Quid Pro Quo courtesy of the Democratic Party's http://www.100DaysofBush.com. BUSH'S TOP TEN PAYBACKS TO THE ENERGY INDUSTRY One of the most obvious and recurring themes of Bush's first 100 days has been the extraordinary influence the oil and gas industry has had in the new administration. Oil and gas interests are some of Bush's top campaign contributors giving more than $3 million to get Bush elected. In exchange Bush has rolled back regulations issued by the Clinton administration on such things as air conditioner efficiency as well as breaking his campaign promise to regulate carbon dioxide emissions. Bush has proposed drilling in the Arctic National Wildlife Refuge and national monuments. Bush has taken a backseat when it comes to the energy crisis California is experiencing while cutting funding for energy conservation programs. He has also repaid top donors lobbyists and industry officials with key positions throughout his administration. Here is just a sampling of how the oil gas and other energy industries have benefited in Bush's first 100 days: 2 - BUSH TAKES HANDS-OFF APPROACH TO CALIFORNIA CRISIS WHILE ENERGY COMPANIES MAKE MILLIONS Bush Did Little to Aid California in Energy Crisis Fleischer Said Crisis is a California Matter. Bush has done little to aid California in its energy crisis such as refusing to support wholesale price caps on electricity. White House spokesman Ari Fleischer said The president continues to believe that the issue is mostly a California matter dealing with the legislation that is before the state. And the leaders of California are working to address that in their own right. Fleischer also said that Bush wanted to focus on a long term national energy policy. (AAP Newsfeed 1/23/01 Wall Street Journal 1/23/01) Texas Energy Company Accused of Price Gouging to Make Money off California's Energy Crisis. The Federal Energy Regulatory Commission ordered further inquiry into allegations by California officials that El Paso Natural Gas Co. a Houston based subsidiary of El Paso Energy Co. manipulated the natural gas market by keeping supply artificially low contributing to the high price of electricity in the state. El Paso Energy was one of the Texas firms grandfathered by Bush's voluntary emissions standards in Texas. Between 1993 and 1998 El Paso Energy and El Paso Natural Gas PACs gave a total of $8000 to Bush's gubernatorial campaigns. During the 1999-2000 election cycle El Paso Energy Corp. and El Paso Natural Gas Co. gave a total of $743029 to Bush and the GOP -- $460395 to GOP in soft money $247750 to GOP candidates from its PAC and $34884 to the Bush campaign from its employees and executives. (www.opensecrets.org Los Angeles Times 3/30/01 tebb.epenergy.com Boston Globe 10/3/99) Electricity Wholesalers Reported Gigantic Earnings Surges from Energy Crisis. According to the Los Angeles Times several electricity wholesalers to California reported gigantic earnings surges for the quarter ended March 31. The following companies all contributors to Bush have earned record profits off of the energy crisis in California. (Los Angeles Times 4/18/01) COMPANY TOTAL TO BUSH COMPANY PROFIT Enron Corp. Enron is Bush's largest Enron's operating income was career patron giving at $406 million in the first least $563000 for his quarter of 2001 compared campaigns including his with $338 million in the 1978 House campaign. same period last year a 20% (San Diego Union-Tribune increase.(Los Angeles Times 2/11/01) 4/18/01) 6 - BUSH'S TRANSITION TEAMS Energy Interests Dominated Bush Transition Energy Advisory Team. Big energy and oil firms dominated the Bush transition's Energy Advisory Team having contributed $857232 to the Republican Party and Bush during the campaign. (Center for Responsive Politics www.crp.org) Almost Two-Thirds of Bush's Energy Transition Team Worked for Energy Industry. Out of the 48 members of the Bush Energy Department transition team 31 or almost two-thirds worked for the energy industry: NAME EMPLOYER Brian Bennett Southern California Edison Robert Card Kaiser Hill Steve Chancellor Black Beauty Coal Company Joe Colvin Nuclear Energy Institute Don Duncan Phillips Petroleum Company Tom Farrell Dominion Energy Gay Friedman Interstate Natural Gas Association of America Jack Gerrard National Mining Association J. Roger Hirl Occidental Chemical Corporation Hunter Hunt Hunt Power L.P. Jerry Jordan Independent Petroleum Association of America Buddy Kleemeier Kaiser Francis Oil Company Tom Kuhn Edison Electric Institute Ken Lay Enron Albee Modiano U.S. Oil and Gas Association David N. Parker American Gas Association C.J. Pete Silas Phillips Petroleum Company Gary Ellsworth USEC Inc. Buck Harless International Industries Stephanie Kroger Mayor Day Caldwell & Keeton (lobbies for companies in oil and gas industries www.mdck.com) Joe Farley Balch & Bingham (lobbying firm which focuses on managing and operating utilities of all kind www.balch.com) Bill Martin Washington Policy and Analysis (lobbying firm which represents American Gas Association www.influenceonline.net) The Honorable Howard Baker Baker Donelson Bearman Caldwell (lobbying firm dealing with energy industry www.bakerdonelson.com) Erle Nye TXU Electric and Gas Corporation Gregg Renkes The Renkes Group (lobbies for members of industry including Edison Electric Institute www.influenceonline.net) Dick Silverman S.R.P. Matt Simmons Simmons & Co. International John Tuck Baker Donelson Bearman Caldwell (lobbying firm dealing with energy industry www.bakerdonelson.com) Daniel Yergin Cambridge Energy Research Associates The Honorable Thomas C. Merritt Merritt Tool Company Inc. (Oilfield Service Business Inside F.E.R.C.'s Gas Market Report 5/5/95) John Wootten Peabody Group Coal Executive Irl Engelhardt was an Energy Advisor to the Bush-Cheney Transition gave $100000 to Inaugural Fund. Irl Engelhardt of Peabody Group Inc. served as an energy advisor on the Bush-Cheney transition. During 1999- 2000 the Peabody Group gave $250000 to the Republican National Committee and Irl Englehardt personally gave $100000 to the Bush-Cheney Inaugural fund. (Washington Post 3/25/01 www.crp.org) /CONTACT: Jenny Backus of the Democratic National Committee 202-863-8148/ 11:47 EDT UK: INTERVIEW-Innogy starts trading power in mainland Europe By Stuart Penson 05/03/2001 Reuters English News Service (C) Reuters Limited 2001. LONDON May 3 (Reuters) - British utility Innogy said on Thursday it had started trading wholesale electricity on the French-Italian border and was set to enter the German power market. We have done some wholesale trading on the Italy-France border moving power from France to Italy and we are very close to doing some in Germany said director of trading Tony West in an interview with Reuters. This year we will significantly increase our trading in (mainland) Europe we are discussing relationships with counterparties at the moment he added. Innogy is building a European power trading team at its headquarters in Swindon southern England from where it already trades the UK gas and power markets. FRANCE COULD BE KEY MARKET West said the company initially had expected the main focus of its European trading strategy to be Germany and the north west of the continent. But the early signs were that France would also play a key role particularly as Innogy had gained access to capacity in the UK-France undersea interconnector cable. France has taken me by surprise. It might be more important than we anticipated although there are clearly still issues about the speed of liberalisation said West. A core of about eight companies regularly trade power in France including TXU Europe Enron and a trading alliance between Endesa and Morgan Stanley Dean Witter according to traders. West said Innogy had so far concentrated on buying power in France not always from French companies and taking it to Italy via the cross border interconnector between the two countries. Innogy had bought some of the 400-megawatts available on the interconnector through recent auctions he said. It's easy to trade through France the cost of taking power through to the border is minuscule although buying power in France and then selling it in France is a lot more difficult said West. He said Innogy had signed grid balancing agreements with French transmission grid operator RTE. Andy Duff managing director of generation and trading added France could become become important for Innogy on a retail level as well as a trading level depending on how effectively the UK-France interconnector could be used. The European market will be driven by the operation of interconnectors and transmission services as well as exchanges said Duff. Innogy may look to trade on Germany's two power exchanges as well as that country's burgeoning over-the-counter market. The company is in the process of signing standard trading agreements for Germany based on the terms devised by the industry group the European Federation of Energy Traders (EFET). FOCUS ON TRADING NOT ASSETS Duff said Innogy's strategy in Europe was to focus on trading but not the acquisition of physical assets. We are not going to lead with assets in Europe. We will focus on trading services-type arrangements extracting value from (other companies') assets. That's the main thrust of the business he said. West said Innogy's trading in mainland Europe would expand into natural gas as opportunities emerged. The company already trades around the UK-Belgium gas interconnector. Mosaic Group posts strong first quarter results 05/03/2001 Canada NewsWire (Copyright Canada NewsWire 2001) -- Diluted Cash Earnings per Share Increases by 29% and Revenues up by 89% -- TORONTO May 3 /CNW/ - Mosaic Group Inc. (MGX:TSE) Canada's leading outsourced marketing services agency announced today that it continued its trend of strong earnings growth for the period ending March 31 2001. Posting its 18th consecutive quarter of year over year revenue growth Mosaic has also reported an average quarterly organic growth rate of 27% since 1996. Financial highlights from continuing operations(x) for this quarter include: - Revenues at $171.8 million - up 89% or $80.7 million from Q1 2000. Mosaic has consistently outpaced the growth of its peers within an industry that is clearly expanding said Mike Preston Chairman and CEO Mosaic Group Inc. We have posted 18 consecutive quarters of continued growth while adding to our blue chip client list. We are building our business by taking our clients' business farther every time we deal with them. Our organic growth comes not only from securing new client wins but from the cross-selling wins that are characteristic of a mature company able to leverage a robust and diverse range of service offerings. New Client Wins In the first quarter of 2001 Mosaic's newly acquired business unit Paradigm has secured new client business worth between $20 million and $25 million a year in revenue. Combined with new client wins from Mosaic's other business units and increases in spending from some existing clients Mosaic has made significant progress in closing its new business gap for 2001. New Power --------- During the first quarter of 2001 Paradigm signed a contract with New Power to acquire residential and commercial customers through a variety of direct response channels such as outbound telemarketing inbound telemarketing direct mail and feet on the street. New Power was formed by Enron Corp. the largest buyer and seller of electricity and natural gas in North America. Paradigm had previously provided contract marketing services to New Power. Through diligent effort Paradigm was able to expand the contract to include the performance-based customer acquisition component. /For further information: Please Contact: Clint Becker Chief Financial Officer Mosaic Group Inc. (416) 813-4275 email: Donna Cox-Davies Director of Communications Mosaic Group Inc. (416) 813-4279 Email: 16:10 ET European Phone Companies' Outlook Brightens: Rates of Return 2001-05-03 08:52 (New York) European Phone Companies' Outlook Brightens: Rates of Return London May 3 (Bloomberg) -- European telephone companies such as British Telecommunications Plc and Deutsche Telekom AG have improved their ability to pay back debt in recent weeks making their bonds a buy investors said. ``Sentiment seems to be changing'' said Anna Lees-Jones who helps manage about 28 billion pounds ($40 billion) of corporate bonds at M&G Investment Management. ``I've been building up my telecoms position all year.'' British Telecom's 10-year euro-denominated bonds sold in January yield about 214 basis points more than government debt down from a record 238 in March. Contracts that pay out if the company goes bankrupt have also fallen in the past month according to Enron Corp. which trades the derivatives. Bond yields and bankruptcy derivatives have also declined for Deutsche Telekom and Royal KPN NV after the companies said they would sell assets to pay down debt that has pushed their credit ratings to record lows and weighed on their shares. Phone companies sold $100 billion of bonds last year to finance licenses and equipment for new mobile services. British Telecom said yesterday it will sell its stakes in Japan Telecom Co. and Spain's Airtel SA to Vodafone Group for 4.8 billion pounds. British Telecom may also sell as much as 7.5 billion pounds of shares to existing investors in a so-called rights offer according to Legal & General Group Plc one of the company's shareholders. Deutsche Telekom will sell assets such as cable television and a stake in Global One and Wind SpA Chief Financial Officer Karl-Gerhard Eick said last week. KPN the biggest Dutch phone company said on March 26 it plans to raise at least 5 billion euros from asset sales to lower debt. Those plans have helped shift investors' perceptions of the companies' creditworthiness money managers said. `Drastic Measures' ``At the beginning of the year the market was assuming telecoms companies would be downgraded from single-A to triple- B'' said Peter Harvey who helps run about $8.6 billion at F&C Management. ``Drastic measures such as deeply-discounted rights issues led investors to believe they will maintain their single-A status.'' The gap or spread between British Telecom's sterling denominated bonds maturing in 2006 and U.K. five-year government bonds has narrowed 50 basis points to 109 basis points in the past month. Spreads between Deutsche Telekom's 6.125 percent five- year euro bonds and German government debt narrowed 35 basis points to 107 in April. Bankruptcy Swaps Fall Those shifts in sentiment are also reflected in Enron's bankruptcy swaps where prices have fallen in the past month said Simon Brooks a trader at Enron. Enron prices the swaps using indexes that measure the probability of bankruptcy and the likely recovery rate in that event. The price is expressed as a percentage above a benchmark interest rate such as the London interbank offered rate or Libor. British Telecom bankruptcy swaps have declined to 66 basis points from 96 on April 1 Enron said. Bankruptcy swaps on Deutsche Telekom dropped to 78 from 100 while KPN's fell to 135 from 183. Over the same period France Telecom SA's declined to 70 from 100 and Telecom Italia SpA's fell to 94 from 119. British Telecom's bond yields may fall further relative to government debt analysts said. They still offer higher yields than those of rival Vodafone Group Plc which has the same ratings though with a stable outlook. While both companies have five-year euro-denominated bonds British Telecom's offer 55 basis points more yield. The rivals also both have bonds maturing in 2004 and Vodafone's yield about 23 basis points fewer. ``If BT retains their rating their spreads should be probably 20 to 30 basis points narrower'' said Brian Venables head of credit strategy at WestLB. ``Even though it has performed extremely well this year there is much greater potential for BT's debt.'' Debt Reduction Target Both Moody's Investors Service which rates British Telecom ``A2'' and Standard & Poor's which rates it ``A'' have those ratings on watch for further cuts after trimming them four rungs last year. The company's asset sales to Vodafone are ``definitely positive in terms of the rating assessment'' said Aidan Fisher who rates British Telecom for Moody's. In combination with the proceeds of a rights sale ``that would meet the target they set themselves this year -- that's quite a lot to achieve in a 12 month period.'' British Telecom has said it wants to slash its 30 billion pounds of debt by a third and fend off further rating cuts. Before companies such as British Telecom clarified their debt-reduction plans ``the world and his wife were underweight'' telecom bonds in March said Harvey at F&C. The investment firm has since raised its holding of telecom bonds to neutral from underweight relative to its benchmark he said. Bond yields ``were trading very much out of line to the rest of the market'' said Lees-Jones at M&G. Now ``they have come in quite a bit and will come in further.'' --Tom Kohn and Alice James in the London newsroom (44-20) 7330 7929 or at [email protected] with reporting by Christine Harper /zls Story illustration: {CRED <GO>} to see credit analysis on Bloomberg. {BRITEL <Corp> <GO>} for BT's bonds. {DT <Corp> <GO>} for Deutsche Telekom's bonds. UK:Corporates warm to charms of credit derivatives By Tom Bergin 05/03/2001 Reuters English News Service (C) Reuters Limited 2001. LONDON May 3 (Reuters) - European corporates are beginning to turn to credit derivatives among the more esoteric and complex of financial instruments to hedge the risk their debtors won't pay up market participants said on Thursday. Credit derivatives are insurance-like tools that allow users to hedge the risk of default on a debt. They are mainly used by banks hedge funds and insurance companies to hedge or gain exposure to the risk of a bond issuer defaulting. Dealers said an environment of deteriorating credit quality and a growing awareness among corporates that credit derivatives offer certain advantages over established hedging tools was behind the increasing use of the instruments. The market remains small with only around a dozen non-financial European corporates regularly using credit derivatives to manage their credit portfolio at present. But market professionals predict they will one day become as commonplace in the corporate world as other hedging tools such as interest rate swaps and currency options. We see (corporate use) as a big growth area for credit derivatives maybe the biggest says Bryan Seyfried vice-president of Enron Credit in London. Enron Credit grew out of the efforts of energy company Enron Corp. to hedge its own credit risk portfolio and now specialises in marketing credit risk management solutions to other non-financial corporates. Ralf Lierow director of credit derivatives at Siemens Financial Services in Munich said the ability to buy and sell in a liquid market means credit derivatives offer a flexibility that established tools like credit insurance and forfaiting guarantees lack. Credit derivatives were are often cheaper than the alternatives too he added. This is not a trading book thing. For us the credit default swap is another tool for credit risk management Lierow said. HELPS OPERATIONAL UNITS DO MORE BUSINESS Siemens Financial Services acts as the centralised risk portfolio management operation for companies within the Siemens electronics and industrial group. It first started using credit derivatives in July 2000. Large companies like Siemens can have hundreds of millions of dollars in receivables on their books at any time. The efficiency with which these companies manage the credit risk on their receivables has an impact on their day to day business. The advantage for the operative area is that they can offload more receivables and do more business Lierow said. Siemens uses credit default swaps the most liquid type of credit derivatives to hedge its portfolio of debtors on a constant basis. As the balance of cash owed by each name fluctuates over time the company tries to match this with default swap positions. Hence if a customer fails to pay Siemens can recoup the debt from the default swap seller. Other companies use credit derivatives less frequently. There are occasional corporate users that have secured one-off requirements for balance-sheet management aims or to strip out the credit risk of a commercial transaction said Walter Gontarek head of global credit products at RBC Dominion Securities. By hedging a country or company risk which a corporate may not be comfortable in carrying a credit derivative can facilitate a project that may otherwise be unfeasible dealers said. NOT PUT OFF BY BAD PRESS Corporates' adoption of credit derivatives is in spite of the negative publicity the instruments have received in recent years. A number of disputes over whether protection buyers could force banks to pay up on contracts have ended up in court. However traders insist that subsequent work done on contract documentation minimises the risk of such disputes in future. Nonetheless a very practical concern for corporates remains in that credit derivatives documentation was designed by bankers with sovereign and corporate bonds in mind. The International Swaps and Derivatives Association (ISDA) standard documentation for credit default swaps allows for a pay-out in relation to defaults on bond payments but not on a private debtor's failure to pay. We use the ISDA framework but we need it redrafted in specific ways to fit our needs. You cannot take a standard contract and trade on it if you want to hedge trade receivables Lierow said. These amendments add to the cost of the credit derivative. Another problem that corporates face is the complexity of credit derivatives. There is little experience of the instruments which are barely a decade old in the corporate world. Siemens had to get its expertise from the financial markets hiring Lierow from Bankgesellschaft Berlin. Clive Banks UK head of derivatives sales to buy-side clients at Schroder Salomon Smith Barney said much of the effort in marketing credit derivatives to corporates involves educating them about the products and the risks involved. It's about explaining credit risk management and what kind of volatility and cost having credit risk introduces he said. OUTLOOK PROMISING Yet some corporates are beginning to take full advantage of their new tool. Lierow said that Siemens which currently only buys credit protection planned to start acting as a default swaps seller in the coming months. He said selling would facilitate better matching of protection levels to actual exposures and would enable diversification of risk away from industry sectors where the company's activities are concentrated. You could improve the portfolio mix by buying protection on automotives and selling protection on pharmaceuticals he said. Allegheny Energy buys three power plants 05/03/2001 Associated Press Newswires Copyright 2001. The Associated Press. All Rights Reserved. HAGERSTOWN Md. (AP) - Allegheny Energy Inc. said Thursday it has purchased three power plants from Houston-based Enron Corp. The company said it issued more than 14 million shares of common stock worth $667 million to pay for the transaction. The plants are in Tennessee Indiana and Illinois. The Midwestern purchase will bring an additional 1710 megawatts on line. The company is expected to own 14000 megawatts of generating power by 2005. Allegheny also has plans to build natural gas-fired facilities in Arizona Indiana and Pennsylvania. Allegheny Energy is the parent of Allegheny Power which supplies electricity and natural gas to 3 million people in Maryland Ohio Pennsylvania Virginia and West Virginia. Allegheny Energy Buys Midwest Capacity From Enron Unit 05/03/2001 Dow Jones News Service (Copyright (c) 2001 Dow Jones & Company Inc.) HAGRSTOWN Md. -(Dow Jones)- Allegheny Energy Inc.'s (AYE) Allegheny Energy Supply Co. unit purchased 1710 megawatts of natural gas-fired merchant generating capacity in three Midwest states from Enron Corp.'s (ENE) Enron North America unit. Financial terms weren't disclosed. In a press release Thursday Allegheny said it financed the acquisition through debt and equity and expects the purchase to add to earnings in 2001 excluding transaction costs. Allegheny noted that this latest acquisition gives Allegheny Energy Supply more than 14000 MW of total generating capacity that it will own or control by 2005. Allegheny Energy Global Markets will market output from the three facilities. On April 27 Allegheny priced its public offering of 12.4 million shares at $48.25 each and said it would use the $598.3 million in gross proceeds to fund its previously reported acquisition of generating facilities located in the Midwest and for other corporate purposes. New York Stock Exchange-listed shares of Allegheny recently traded at $49.85 down 51 cents or 1% on composite volume of 306000 shares. Average daily volume is 538773 shares. Allegheny which posted an operating net of $313.7 million or $2.84 a share on revenue of $4.01 billion for the year ended Dec. 31 is an energy company. Company Web site -Karen M. Chow Dow Jones Newswires 201-938-5400 Allegheny Energy Supply Completes Purchase of Midwest Assets Adds 1700 MW to Growing Generation Fleet 05/03/2001 Business Wire (Copyright (c) 2001 Business Wire) HAGERSTOWN Md.--(BUSINESS WIRE)--May 3 2001--Allegheny Energy Inc. (NYSE: AYE) today announced that its unregulated generation subsidiary Allegheny Energy Supply Company LLC has completed the purchase of 1710 megawatts of natural gas-fired merchant generating capacity in three Midwest states from Enron North America a wholly owned subsidiary of Enron Corp. (NYSE: ENE). The acquisition gives Allegheny Energy more than 14000 MW of total generating capacity that it will own or control by 2005 and marks a significant step in the Company's strategic course toward becoming a national energy supplier. Earlier this year Allegheny Energy Supply acquired 83 MW of coal-fired generation in the Conemaugh Generating Facility near Johnstown Pa. Additionally the Company has announced plans to build a 1080-MW natural gas combined-cycle plant in La Paz County Ariz. a 630-MW natural gas combined-cycle facility near South Bend Ind. and a 540-MW natural gas fired combined-cycle generating facility in Springdale Pa. Another 220 MW of peaking capacity have already been completed in Pennsylvania. The Midwest acquisition was financed through a combination of debt and equity and will be accretive to Allegheny Energy's earnings in 2001 excluding transaction costs and other costs related to the integration. Yesterday the Company issued more than 14 million shares of common stock to facilitate the transaction. Alan J. Noia Chairman of the Board President and Chief Executive Officer of Allegheny Energy said I am pleased to announce the closing of Allegheny Energy's largest generation acquisition to date. It provides our Company with significant generation presence and capability as an energy merchant to sell electricity from efficient natural gas-fired generation facilities in more areas of the country with a growing demand for energy. Output from the three facilities will be marketed by Allegheny Energy Global Markets. These premium generating assets are designed for operation in times of peak electricity demand said Noia. Because of its national presence Allegheny Energy Global Markets will be able to market the output from these newly acquired facilities in a wide variety of ways with our portfolio of existing assets and other supply arrangements so that overall operational efficiency and shareholder value is maximized. Allegheny Energy Supply's newly acquired facilities include: the Gleason Tenn. plant (546 MW) approximately 40 miles north of Jackson Tenn. the Wheatland Ind. plant (508 MW) approximately 70 miles northeast of Evansville Ind. and the Lincoln Energy Center plant (656 MW) in Manhattan Ill. near Chicago. These assets give Allegheny Energy Supply additional generating capacity within the East Central Area Reliability region (ECAR) and initial generation sources in the Mid-America Interconnected Network (MAIN) and the Southeastern Electric Reliability Council (SERC). Salomon Smith Barney acted as financial advisor and Jones Day Reavis & Pogue acted as legal counsel for Allegheny Energy for the acquisition. CONTACT: Allegheny Energy Supply Hagerstown (Media) Janice Lantz 412/858-1630 Media Hotline: 888/233-3583 or (Investors) Greg Fries 301/665-2713 11:35 EDT MAY 3 2001 SSB Cuts Forecast For Power Profitability In 2002 Beyond 05/03/2001 Dow Jones Energy Service (Copyright (c) 2001 Dow Jones & Company Inc.) NEW YORK -(Dow Jones)- Salomon Smith Barney's utility analysts sharply cut their forecast of the profitability of generating electricity in the U.S. in 2002 and beyond because power prices are expected to drop more sharply than natural gas prices starting next year. The analysts cut the profit margin in natural gas-fired power in 2003 to $3.98 a megawatt-hour from $8.73/MWh a 54% difference from their last forecast in February. They lowered their power price index for 2002 by 1.5% and for 2003 by 7.1% Thursday in a published report. Their forecast is based on forward markets for electricity and gas. Gas prices are remaining strong for a much longer period of time while power prices drop off senior electricity industry analyst Raymond Niles said in a telephone conference with investors. As a result stock prices for power producers such as AES Corp. (AES) Mirant (MIR) Calpine Corp. (CPN) and NRG Energy (NRG) could peak this summer in advance of strong third quarter earnings reports the Salomon report says. Investors may still shy away from asset and investment-heavy power producers if realized prices begin to reflect the decreases in power prices now projected in the forward curve the report warns. After this summer the stocks of energy companies that focus more on trading will regain momentum Salomon expects. These energy merchant companies such as Enron Corp. (ENE) Williams Cos. (WMB) Duke Energy (DUK) and Dynegy (DYN) should be able to take advantage of higher trading volume and greater volatility in power markets in non-summer months according to Salomon. We expect (annual trading) volumes to grow industry-wide between 25% and 40% on average during 2001-03 as the $800 billion global energy commodity market continues to open the report predicts. The overall electricity price trend is national according to Salomon. The report titled Power Curve expects 2001 wholesale power prices to exceed last year's by 131% in the West and by 34% on average in the eastern U.S. including Texas. But since their last forecast the analysts lowered their forward price curve for next year and beyond in 10 of 11 regional power pools. Interestingly the exception to that is the New York Power Pool Niles told investors. For the remainder of this year however Salomon still expects power producers to beat substantially last year's breakthrough results. About 50% of the spike upward in western U.S. power prices the past six months has been from something we've never seen before in this industry: political and credit risk Niles said in the conference. Western merchant power suppliers are benefitting from the unholy mess in California Niles said but that won't last forever. Whenever the debate tapers off and we have a resolution in sight that premium will slowly drain out of the western markets and bring down profitability for the group Niles said. National calls for reregulation due to the California crisis could continue to hurt stock prices for the entire sector even though reregulation won't happen. Further in so far as such calls discourage investment in generating plants transmission lines and gas pipelines they could also extend the current period of extremely high earnings according to the report. In non-western states the greatest profitability from power generation for the next two years is seen in New England. -By Mark Golden Dow Jones Newswires 201-938-4604 [email protected] Fitch Affs Northern Border Rtg Outlook To Stable From Negative 05/03/2001 Business Wire (Copyright (c) 2001 Business Wire) NEW YORK--(BUSINESS WIRE)--May 3 2001--Fitch has affirmed its `BBB+' senior debt rating for Northern Border Partners L.P. (NBP) and its `A-` senior debt rating for its regulated pipeline affiliate Northern Border Pipeline Co. (NBPL). The Rating Outlook for both companies is changed to Stable from Negative. The rating action was taken after a review of NBP's recent acquisitions and long-term business plan. A combination of debt and equity at NBP was used to fund the recent acquisitions of Bear Paw LLC Midwestern Gas Transmission Company and Dynegy Canada midstream assets. An additional $125-150 million of equity is expected to be sold in the coming months to pay down short-term debt and complete the permanent financing. The improvement in Rating Outlook primarily reflects NBP's demonstrated commitment to undertake conservative long-term financing and operating strategies. Future acquisitions at the partnership level are expected to be financed 50/50 debt/equity so as to maintain financial flexibility and a stable credit profile. Moreover management has shown a strong bias to minimize commodity price risk as it expands its non-regulated gas operations. For example processing contracts for Bear Paw's four processing facilities are contracted for on a percentage of proceeds basis and liquids prices have been 90% hedged by NBP through 2001 limiting downside exposure. NBPL continues to exhibit strong competitive market operating and financial characteristics that are consistent with its current `A-` rating. The company is a low-cost transporter of Canadian gas into the Midwest with costs per hundred miles of less than 4 cents per mcf. The December 2000 completion of the Alliance Pipeline has had minimal impact on Northern Border as capacity utilization approaches 100%. Pipeline capacity is 99% subscribed through mid-September 2003. Its shippers are financially strong customers with uniform take-or-pay contracts. The company has never written off a bad debt. NBPL should generate EBITDA/interest coverage of nearly 4.0 times over the next few years. Credit concerns primarily relate to NBP's changing business mix and the expectation of increased market risk associated with its growing midstream operations as compared with the stable low-risk profile of NBPL. While projected consolidated and stand alone credit measures at NBP remain relatively strong there will be less predictability in the future cash stream utilized to service debt. NBP is a publicly traded master limited partnership. Its primary holding is a 70% economic interest in NBPL a 1214-mile FERC regulated interstate pipeline transporting natural gas from the Canadian border to the upper Midwest. Enron Corp. and The Williams Companies Inc. hold a 10.0% and 3.3% stake in NBP respectively with the remainder publicly held. Enron controls an 82.5% stake in the management committee of NBP with Williams holding the remaining management allocation. CONTACT: Fitch New York Ralph Pellecchia 212/908-0586 or Hugh Welton 212/908-0746 13:58 EDT MAY 3 2001 INDIA: UPDATE 1-Enron to meet govt panel over Indian project 05/03/2001 Reuters English News Service (C) Reuters Limited 2001. NEW DELHI May 3 (Reuters) - The Indian unit of Enron Corp said on Thursday that its officials would meet members of a government panel formed to re-negotiate a troubled $2.9 billion power project in western India. But the willingness to meet the panel next week should not be construed as an offer to renegotiate the contract Dabhol Power Company (DPC) said in a statement. As a matter of courtesy we have agreed to meet with them next week the DPC statement said. Since the purpose of our meeting is to hear out the committee and understand their thoughts we will not present any proposal. DPC said it had constantly maintained that it was open to maintaining a dialogue towards resolving issues. (But) This meeting should in no manner be construed as an open offer from DPC to renegotiate the terms of the contract it added. DPC and the government of the western state of Maharashtra have been locked in a payment battle for months with the state's electricity board balking at paying Enron what it considers too high a rate for electricity. At present Maharashtra's State Electricity Board (MSEB) owes the DPC of which Enron is a 65 percent stakeholder some $48 million for power. The Maharashtra government last week announced the formation of a panel of experts to re-negotiate its contract with DPC and lower the cost of power sold to MSEB. LARGEST FOREIGN INVESTMENT The Dabhol project the single largest foreign investment in India consists of two phases the already-built 740 megawatt power plant and a 1444 MW plant that is expected to be finished this year. Last week Dabhol's board authorised the plant's managing director to issue a preliminary notice of termination of service to MSEB. The notice which has not been issued would be the first step for Enron to pull out of the project. Earlier a source familiar with the project told Reuters that Indian lenders who have provided millions of dollars to Houston-based Enron to build DPC are lobbying with the government to act quickly and end the crisis. We have asked the government for help. We are awaiting their reply the source who is employed with a large financial institution said. The domestic lenders to the project are Industrial Development Bank of India ICICI Ltd Industrial Finance Corporation of India Canara Bank and State Bank of India . If Enron pulls out of the project the source said the lenders would have no choice but to seek an alternative buyer. The plant is good Maharashtra needs power and I am sure buyers can be found the source added. India State Panel's Sat Meet With Enron Unit Postponed 05/03/2001 Dow Jones International News (Copyright (c) 2001 Dow Jones & Company Inc.) NEW DELHI -(Dow Jones)- India's Maharashtra state government's expert committee's Saturday meeting with the U.S. energy major Enron Corp.'s (ENE) Indian unit Dabhol Power Co. has been postponed until May 11 at the request of DPC a committee member told Dow Jones Newswires late Thursday. The nine-member committee has been appointed to renegotiate the Maharashtra State Electricity Board's controversial power purchase agreement with DPC. The state government has asked the committee to try to negotiate a revised agreement within a month. The negotiating committee's first meeting with the Dabhol Power Co. management scheduled for Saturday has been postponed until May 11 0530 GMT at DPC's request. They (DPC) told us they wanted some more time to prepare themselves for the meeting and we have granted their request said a committee member. The committee's goals are to lower the power tariff and allow the sale of excess power to the federal government or its utilities. A restructure of the DPC's stakeholding may also be on the agenda. -By Himendra Kumar Dow Jones Newswires 91-11-461-9427 [email protected] EnergieKontor Secures Enron Deal For Spain Germany Projs 05/03/2001 Dow Jones Energy Service (Copyright (c) 2001 Dow Jones & Company Inc.) LONDON -(Dow Jones)- German wind farm developer EnergieKontor AG said Thursday it has signed a framework agreement with Enron Wind GmbH for deliveries of wind turbines for projects in Germany and Spain. In all Enron will deliver 200 megawatts' worth of 1.5 MW turbines for onshore projects in EnergieKontor's home market and in Spain one of its fastest-growing export markets. In addition Neuer Markt-listed EnergieKontor said it has entered into exclusive negotiations with the local authorities for permission to build up to 15 wind farms at a number of sites in the Castilla-La Mancha region. Each site would have an installed capacity of 45-50 MW making a total of 700 MW. Once we reach this stage there is about an 85-90% of the project going ahead sometimes more a spokesman told Dow Jones. EnergieKontor said it assumes that it will set up the first windfarms in Castilla-La Mancha as early as next year. -By Geoffrey T. Smith Dow Jones Newswires (+44 20) 7842 9260 [email protected] The Bottom Line: Scottish Power Looks To Refine Focus By Andrea Chipman Of DOW JONES NEWSWIRES 05/03/2001 Dow Jones Energy Service (Copyright (c) 2001 Dow Jones & Company Inc.) LONDON -(Dow Jones)- After more than a year of lagging earnings investment missteps and unexpected disasters U.K. vertically-integrated utility Scottish Power (SPI) is hoping a new strategy to streamline its businesses will signal a more focused period for the company. But it's got its work cut out. While investors were cheered by news that its U.S. Utah-based Hunter power plant is back online after a six-month outage that cost the company an estimated $160 million uncertainty over its plans for its Southern Water unit and apparent ongoing commitment to loss-making telecoms venture Thus are seen as muddling group focus. It all adds up - the lack of coherent strategy quite substantial downgrades and a whole host of non-core businesses that they don't have any natural management flair or expertise in said Brian Gallagher a senior fund manager at London-based Gartmore Investment Management which has GBP3 million of Scottish Power shares in its Global Utilities Fund. We have a reasonably low opinion of the company. The company said Thursday that its pretax profit before goodwill amortization and exceptional items for the fiscal year ending March 31 fell to GBP628 million from GBP736 million a year ago. Adjusted earnings per share declined to 30.65 pence in the 2001 fiscal year from 41.22 pence in 2000. The company acknowledged profits have been hit hard by the Hunter outage competition on wholesale and retail markets in the U.K. and strict price controls on its regulated infrastructure businesses. Although the company's shares were trading at 458.5 pence after the release of Thursday's earnings results up from 441.5 pence Wednesday they are down more than 15% from 533 pence a year ago. Executives say they are restructuring the business into three targeted divisions to capitalize on its traditional strengths in generation and power supply and infrastructure and to expand its overseas activities. We've now got a trading and commercial link between generation and supply and the first thing we are doing is putting emphasis on that...on growing earnings across that value chain Scottish Power Chief Executive Ian Russell told journalists in a conference call Thursday. In the U.S. we are focused on cost cutting and on acquiring new businesses. Scottish Power's move away from a full multi-utility profile - begun last year with its partial disposal of Thus and its withdrawal from an Internet banking venture with the Royal Bank of Scotland - toward a more narrowly focused energy business mimics a trend across the industry toward greater specialization. The company is also considering selling Southern Water which would allow it to focus even more closely on its power business. Yet analysts and investors say they are looking for more details of the company's overall growth strategy from Russell who took over as chief executive last month and other managers. The toll from months of drift is evident they said. Sales Of Southern Water Thus Seen Indeed despite its efforts to chart a new road Scottish Power appears to be reluctant to acknowledge the failure of some of its non-core ventures. Russell said his company remains supportive of Thus which reported a 2000 fiscal year loss of GBP21.4 million this week and has no plans to exit its remaining 50% stake in the company. Similarly he said Scottish Power hasn't yet made a final decision to dispose of Southern Water - which has cut costs under its Scottish parent but is increasingly unable to cover its capital expenditure - although he said the company had received a number of offers from potential buyers. Although he declined to identify any of the bidders Italian energy company Enel SpA (ENI) has confirmed its interest. Industry sources said a prompt sale of the water unit looks likely with some bids already exceeding the GBP2 billion at which many analysts value the company's combined assets and debt. It's unclear they said how Southern Water or Thus would fit into Scottish Power's new image. Scottish Power sees itself as an international energy company a source familiar with the company said. In a year's time he added it would be unlikely that Southern Water and Thus would be part of the company. Revenues from the sale of the water unit would also help Scottish Power pursue its U.S. expansion without adding to its 90% gearing levels analysts and investors said. Russell declined to comment on reports Scottish Power is considering buying Enron Corp.'s Oregon-based unit Portland General but admitted the company would be a logical geographical fit with Pacificorp. Analysts said Scottish Power's plans for U.S. growth is likely to be a key part of its energy strategy. We like their U.S. strategy where they've leveraged expertise gained in the highly competitive U.K. market said Gareth Lewis-Davies head of utilities research at Lehman Brothers in London. Closer to home competition and the trend toward increased specialization in the power industry may force Scottish Power to determine whether its business strength lies in asset management or retail and generation. Strategic decisions need to be made and I'm not sure if they are going to make them in the near term or not said Andrew Wright U.K. utilities analyst at UBS Warburg in London. They are pretty much involved across the value chain and I think it remains to be seen which part of the value chain they specialize in if any. Company Web site: www.scottishpower.co.uk -By Andrea Chipman Dow Jones Newswires 44-207-842-9259 [email protected]
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Subject:: RE: Ive joined Charles River Associates
Body:: Bill Yes one of the options I am looking at. Vince
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Subject:: Privileged and Confidential - Catalytica
Body:: I've finished marking up the drafts and thought perhaps a few thoughts would give you some insight into the reasons for my revisions . Unfortunately I was engaged in discussions about the course to pursue in light of Arthur Anderson's comments until almost 10pm when I lost my typing help so not much headway was made in inputting the changes last night. My secretary is supposed to be in early ( it is now nearly 8:00 and she still isn't in ! ) and I will enlist whatever other help I can get to turn these documents around. For those not involved in the discussions last night Roger advised us that Arthur Anderson had changes to the Xonon Technology Implementation Agreement designed to make clear ENA had no primary or secondary obligations under the XTIA. The principal change suggested by AA - the deletion of the last sentence of the BOLD language in Section 2.2 - removed the obligation for ENA to pick up any obligations under the agreement owed by West LB in excess of the Cap. Note that this same change applies in the Agreement in Principle related to the purchase of turbines. XTIA Revision 4G. AA's change did not appear to address comprehensively the principle AA espoused ie clarifying ENA had no primary or secondary obligations under the agreements. After much discussion and some consideration I decided to prepare alternative markups of the XTIA - one that attempts to meet the AA directive while preserving a level of comfort for GE. I attempted this by increasing the limit on West LB's liability in Article 10 to $20 million from $9.9 million so that GE's recourse against West LB is the same as it had against West LB and ENA in the prior drafts and by obligating West LB in the default provisions to pony up for an ENA default. I also extensively modified the Section 2.2 language ( taken verbatim from the LM 6000 deal ) to eliminate the limited recourse provisions favoring West LB and in doing so made it easier to conclude that references to ENA in the agreement are references to ENA acting in an agency and not its individual capacity. This notion is still pretty vague in the revision because I did not want to create too much discomfort in GE since ENA explicitly acting in an agency capacity would mean there was no recourse against it ( since ultimate recourse would lie with the principal West LB). Roger suggested I delete the limit on ENA's liability in Article 10 to remove the implication it had any which I did ( and which means we have no upside protection if we are construed to have obligations under the XTIA. The upshot is that in my opinion the 4g revision goes as far as possible toward placating AA while still retaining a possibility of selling it to GE. The sheer number of changes required by the substance of AA's comment however is bound to be disconcerting to GE at this stage of negotiations particularly when GE's expectation was for a markup incorporating the new business terms agreed yesterday afternoon (calling for payment of the Development Funds to be completed by September 302000 with the possibility of a refund of a portion of the Development Fund Payment if the December 31 Milestone is not timely completed) and some clean ups/clarifications. Note that in both revision 4g and 4ga Section4.3 now provides that the Xonon credit created is only exercisable by CCSI on and after December 312000 so that the credit amount can reflect the deduction of any Milestone 4 refund amount paid by GE if it does not complete that Milestone on time. I think the dollar value of the credit should be adjusted downward if a portion of the Development Funds paid on September 30 are in fact refunded in December. We need to make sure to make provision in the Acquisition and Development Agreement that any Milestone 4 refund received by West LB is paid over to ENA since West LB will have been repaid its advances on September 302000. XTIA Revision 4GA . This alternate revision to the XTIA takes a minimalist approach and incorporates only the new business terms some minor clean up/clarifications and the AA change to Section 2.2 and the change to Article 10 ( to remove a cap for ENA's laibility) suggested by Roger. It seems to me it does not address meaningfully the AA admonition that ENA may not have primary or secondary liability under the XTIA if it wants to stay outside of the rigors of FAS 97-10. However it has the singular advantage of looking a lot like what GE and West LB expect to see in the revision. Option Repurchase Agreement. This revision was complicated by the possible refund of the a portion of the Development Funds by GE if it failed to complete Milestone 4 by December 312000 ( an attempt to retain some accountability for GE's performance given that it is being paid for that Milestone on September 30 to satisfy CCSI ). Because the option repurchase must occur on or before September 30 it isn't clear what will happen December 31 so its hard to figure out what to pay if the contract is not cancelled by September 30 or what the credits are worth on that date. Since CCSI is the direct recipient of the credits under the XTIA I first thought ENA could hang onto $2.1 million ( the amount formerly allocated to Milestone 4 before its payment obligation was collapsed into Milestone 3) by deducting the refund from the amount payable to CCSI on the option repurchase date and leaving CCSI to bear the risk of GE's repayment of any refund in order to make CCSI whole. If GE did meet the Milestone on time and so did not pay the refund amount directly to CCSI I thought ENA could always make CCSI whole by paying the $2.1 million in December when the refund matter was decided. That approach- subtracting the refund amount from the September 30 payment to CCSI- was decidedly unsatisfactory since the option repurchase formula could result - depending on the Milestones paid on the option repurchase date - in a negative payment to CCSI for the option. What I settled on in this draft was to go ahead and pay CCSI the amount of the premiums it has paid to September 30 plus $200000 if the turbine contract has not been cancelled on September 30. This would include repayment to CCSI on September 30 of premiums paid by CCSI under the spark spread on September 30. Assuming CCSI made all its premium payments and West LB made all of its Development Fund advances ENA would have received $9.9 million from CCSI by September 30 paid out $9.9 million plus interest to West LB by September 30 and purchased the spark spread from CCSI for $10.1 million. If the turbine contract is not cancelled but GE has to pay the refund I think the $2.1 million ought to go to West LB or its designee (ENA). If we cancel the turbine contract and do not go forward with Pastoria the dollar amount of the credits vested in CCSI and exercisable after December 312000 are equal to the Development Funds advanced less the refund amount. Since the document now reads that the $2.1 refund amount goes back to West LB or its designee if GE pays the refund and CCSI is holding a Xonon credit of only $7.8 millionit seems to me it will be necessary to pay the refund over to CCSI instead of ENA in order to make up for the fact that it paid $9.9 in premium and only received $7.8 in credit in September. This quick liquidation of $2.1 of the credit seems to be an ancillary benefit to CCSI occasioned by GE's refund. We could provide in the agreements that GE makes this payment directly to CCSI or we can continue to have the right to receive the payment from GE under the XTIA and the obligation to pay it to CCSI under the Repurchase Agreement.
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Subject:: slashing price caps
Body:: Hey -- you're talking about our future President! I am soooo looking forward to my next Biennial Resource Planning proceeding. -----------------
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Subject:: Re: Draft - Confidential - New Procedures to be introduced by ENA
OTC for Exec Employment Agreements and Hiring of Commercial Staff below VP
into ENA
Body:: You should include VP's and also you should make it a little clearer that I don't want to be on the schedule unless they have made a decision.
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Subject:: Shift May Empower California.htm
Body:: Thanks for taking time to call yesterday. Good luck with the Lockyer situ= ation. I truly do believe that direct and prompt interaction with Lockyer= will prove more effective for Enron than delayed or intermediated action.= As we discussed if I can be of any help with reconnaissance or as sou= nding board just let me know. =20 I have attached an article from this morning's LA Times. It provides an C= alifornia view on how the shakeup in the Senate might impact the state's e= nergy situation. Certainly by the time that President Bush visits the C= alifornia in a few days the state's two Democratic US Senators will be a = good bit more empowered. =20 Kevin 213-926-2626 =20 [IMAGE] [IMAGE][IMAGE] =09Click here to learn more! [IMAGE]=09 [IMAGE] =09Home | Discussions | Print Edition | Archives | Site Map = | Home Delivery | Advertise | Feedback | Help [IMAGE]=09 =09[IMAGE]=09 [IMAGE] [IMAGE] [IMAGE] [IMAGE] News Politics Entertainment music = movies art TV restaurants [IMAGE] Business Travel Marketplace jo= bs homes cars rentals classifieds [IMAGE] Sports Commentary Shop= ping [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] A Section= [IMAGE] [IMAGE] TOP STORIES * State's Standardized Test Spurs Scatte= red Backlash * GOP Braces for Jeffords to Bolt Today * Moderates on = Outside of GOP Big Tent MORE [IMAGE] [IMAGE] [IMAGE] STORIES BY DA= TE FOR THIS SECTION 5/24 | 5/23 | 5/22 | 5/21 | 5/20 | 5/19 | 5/18 = [IMAGE] DAILY SECTIONS Front Page A Section California [= IMAGE] Business Sports Calendar [IMAGE] So. Cal. Living EditorialsLett= ers Op/Ed WEEKLY SECTIONS Health Food [IMAGE] Tech Times [IMAG= E] Highway 1 SUNDAY SECTIONS Book Review Opinion Real Estate [IMA= GE] Calendar Magazine Travel [IMAGE] TV Times Work Place [IMAGE] [= IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Marketplace Find a home car = rental job pet merchandise boat plane or RV classifieds Pl= ace an Ad [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] L.A. Times = Subscription Services Subscribe Change of Address Vacation Stops = Suspend Delivery College Discount Gift Subscriptions Mail Subscriptio= ns FAQ [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Print Ads = from the Newspaper See this week's ads [IMAGE] [IMAGE] [IMAGE] Pri= nt Edition Orange County Valley Ventura County National Communi= ty Papers [IMAGE] [IMAGE] [IMAGE] [IMAGE] Books Columnists Cross= word Education Food Health Highway Horoscope Lottery Magazine = Obituaries Reading by Real Estate Religion Science So.Cal. Living = Special Reports Sunday Opinion Tech Times Times Poll Traffic Weath= er Workplace SITE MAP [IMAGE] [IMAGE] [IMAGE] SHOP 'TIL YOUR = LAPTOP DROPS [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Shopping [IMAGE= ] Search Products Stores [IMAGE] [IMAGE] [IMAGE] [IMAGE] = [IMAGE] [IMAGE] =09[IMAGE]=09[IMAGE] Thursday May 24 2001 | [IMAGE]Print= this story [IMAGE] [IMAGE] Shift May Empower California By RICHARD SI= MON ELIZABETH SHOGREN Times Staff Writers WASHINGTON--James M. J= effords has never mattered much to Californians. Until now. The Verm= ont senator's widely anticipated decision to abandon his fellow Republican= s and put Democrats in control of the Senate could have big implications f= or California particularly on energy and environmental policy lawmakers = and lobbyists said Wednesday. The change which Jeffords is expected= to announce today could increase political pressure on the Bush adminis= tration to respond more aggressively to California's electricity crisis t= hese insiders said. And it might force the White House to compromise= on key elements of the national energy policy it unveiled last week. In f= act the administration's proposed budget cuts for programs to promote ren= ewable energy were said to be a factor in Jeffords' decision. At th= e very least Senate observers said Sen. Dianne Feinstein (D-Calif.) is l= ikely to get the floor vote she has sought on price controls for wholesale= electricity. That doesn't necessarily mean that the administration'= s critics will be able to have everything their way. Even if the Senate ap= proves electricity price caps for example the measure would face stiff o= pposition in the GOP-dominated House--and a likely veto if it made it to t= he president's desk. Still a Democratic majority in the Senate wou= ld give Feinstein and other party members a platform to turn up the politi= cal heat on the administration and congressional Republicans on energy pol= icy. It kicks up the dust groaned one energy industry lobbyist wh= o requested anonymity. Observed Sen. John F. Kerry (D-Mass.): If P= resident Bush's hard-edged conservative approach has in fact caused the ba= lance to shift towards Democrats in the Senate it will have profound impl= ications not just for California but for the environment and our nation's= energy policy. Environmentalists seemed almost giddy as they cont= emplated the possible impact of Jeffords' decision on the policies they ca= re about. All of a sudden they said it seems less likely that oil = exploration will take place in the Arctic National Wildlife Refuge that r= ecreational snowmobiles will have free access to Yellowstone National Park= or that the administration's desire to promote nuclear power will be emb= raced by Congress. On the other hand it seems more probable that C= ongress would approve a new plan for managing a vast swath of the Sierra N= evada to protect the region's oldest trees consider legislation to restri= ct emissions of carbon dioxide from power plants and protect California fr= om a resurgence of offshore oil drilling. It's stunning how broad t= he repercussions are particularly on the environment said Gregory Wetst= one of the Natural Resources Defense Council. We're trying not to count o= ur chickens before they hatch. But it will be easier for us in our battles= at least to keep from moving backwards. For instance Jeffords is= a chief advocate of a bill that would regulate carbon dioxide from power = plants. And if events play out as expected he'll become the new chairman = of the Senate committee with jurisdiction over the issue. Another i= ssue under his purview would be the two-decade dispute over a proposed rep= ository for the nation's spent nuclear fuel at Yucca Mountain in Nevada. = Yucca Mountain is a dead turkey declared Michael Francis of the W= ilderness Society. Environmentalists had been worried that a number= of pro-development provisions would be packed into appropriation bills. B= ut with Democratic senators in charge that would become less of a threat= they said. Every wacko idea Republicans have will get a higher lev= el of scrutiny Francis said. The biggest change would be the power= of Senate Democrats to decide which bills will be considered in committee= s and which ones will make it to the floor of the Senate for votes. = As part of a new Democratic majority Feinstein and fellow California De= mocrat Barbara Boxer are likely to gain leverage with the administration o= n a number of issues considered important to the state. That transl= ates into more federal assistance for California across the board predic= ted Steve Maviglio spokesman for Gov. Gray Davis. I think it mean= s more attention to our state for sure Boxer said. Right now the pres= ident doesn't seem to give a darn. They're all looking at California as a = Democratic state. They're not interested. Feinstein who has been = unable to arrange a meeting with Bush to discuss the energy crisis may ge= t better treatment if winning Democratic support becomes more important to= the administration. She has been regarded as a bridge-builder who worked = effectively with Republicans in the past. This has not been a warm = and friendly administration she complained Wednesday. They've got peopl= e who know all the answers and don't want to listen. The White Hou= se disputed that. In fact Bush agreed Wednesday to meet with Davis during= the president's first visit to California next week. Under a Democ= ratic majority Feinstein would be in line to chair two subcommittees: the= military construction panel of the Senate Appropriations Committee and t= he technology terrorism and government information subcommittee of the Se= nate Judiciary Committee. Boxer would be in line to chair the subco= mmittee on Superfund waste control and risk assessment and the Foreign R= elations subcommittee on international operations and terrorism. Mav= iglio predicted that the effects of Jeffords' expected party defection wou= ld be felt immediately. The chairmanship of the Senate Energy and N= atural Resources Committee would be taken away from Frank H. Murkowski (R-= Alaska) who has been openly hostile to California's plight and handed = to Jeff Bingaman (D-N.M.) who supports Davis' request for electricity pri= ce controls according to Maviglio. Democrats have assailed Bush's e= nergy plan for tilting heavily toward the supply side. With Democrats in c= harge of the Senate the administration would be more likely to compromise= perhaps beefing up funding for Democrat-supported causes such as increas= ed energy assistance to low-income households and more aggressive promotio= n of conservation and renewable energy sources such as wind and solar powe= r. Search the archives of the Los Angeles Times for similar stories ab= out: United States - Politics Republican Party James M Jeffords P= olitical Party Defections California - Politics Senate (U.s.) . You = will not be charged to look for stories only to retrieve one. =09 News Politics Entertainment music movies art TV restaurants = [IMAGE] Business Travel Marketplace jobs homes cars rentals cla= ssifieds [IMAGE] Sports Commentary Shopping [IMAGE] =09[IMAGE]=09 G= et Copyright Clearance Copyright 2001 Los Angeles Times Click for permi= ssion to reprint (PRC# 1.528.2001_000043610) =09 [IMAGE] =09
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Subject:: help with neighborhood
Body:: Please forward to Sue Walden and get her ideas. -----------------
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Subject:: Confidential Folder to safely pass information to Arthur Andersen
Body:: We have become increasingly concerned about confidential information (dpr/position info curves validations/stress tests etc) being passed to Arthur Andersen for audit purposes over the Web to their Arthur Andersen email addresses. (necessary now they no longer have access to Enron's internal email system) Please use the folder described below when passing any info (that you would have concerns about if it was picked up by a third party) via the shared drive that has been set up for this specific purpose. Note: AA should also use the shared drive to pass info back if there are questions or the data needs updating. We should also consider the sensitivity of audit findings and special presentations if they are being distributed electronically. Please pass this note to others in your groups who have the need to pass info back and forth. Details on how to access for those who will use this method to pass info: A secured folder has been set up on the o drive under Corporate called Arthur_Andersen Please post all confidential files in this folder rather than emailing the files to their company email address. If you need access to this folder submit an eRequest through the IT Central site: Arthur Andersen will be able to retrieve these files for review with their terminal server access at the Three Allen Center location. Please contact Vanessa Schulte if you have any problems or questions Beth Apollo
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Subject:: Comprehensive Solution
Body:: Fax the attached word document to Jeff ASAP thanks. -----------------
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Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: MEMO
Body:: Please call me. -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
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7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Confidential - New Procedures to be introduced by ENA OTC for Exec
Employment Agreements and Hiring of Commercial Staff below VP into ENA
Body:: David i agree in principle with this process. I assume that you and your team will implement. Like we spoke about I do not see a need to widely distribute this through the commercial organization. I would just implement. Regards Delainey -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: FYI - California Conference Call, 800-749-9927, ask for Maureen
Palmer
Body:: Lydia McGowan (Chairman Frisbee) 410 767 8072 Christa Donahue (PFI in North Carolina -- 2024672778) Greg Piper Carol Dillon 503-464-8536 Kathleen -- Providence Gas (Mike McCall) Linda Clemmons -- MIT forum at MIT
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
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5. 'Employment arrangements'
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7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: RE:
Body:: Natasha Thanks. I left my package and all the forms in Houston. I shall be glad to fill out the form tomorrow at the conference. Vince
What should this email be categorized as?
[/INST] Personal but in professional context <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Letter for Lay Signature
Body:: Rosie - please print and have signed. (Note there is a typo in the second line of the last paragraph -- does should be do). thanks
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
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7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: RE: extra books
Body:: Hi Julie Rice asked me to teach another course on energy derivatives and I plan to use the book as the main source. You can inform them that they should keep the books in stock and probably order a few more copies. I am in London right now and will stay here for a few more days. Swamped with work as usual. I was on the road for the last 2 weeks. The tropical storm unleashed the fury on my neighborhood (20 inches in one night) but we survived without major problems. The only problem I had was an overflowing swimming pool (it took 45 minutes to go from a comfortable slack to a full condition). Vince
What should this email be categorized as?
[/INST] Purely Personal <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Confidential Conference Access Code Change!!!
Body:: FYI -----------------
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
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7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: MidAmerican Draft Documents
Body:: I realize you have pushed these guys already but the attached letter would be better if not sent at all. It doesn't address the real underlying problem -- that a reliability bill on a stand alone basis doesn't fix the problem. Instead the letter implies that the reason for opposition is merely a political consideration -- ie that it may reduce Congress' appetite for action next year. If possible it would be better not to have the letter go out at all. From: Cynthia Sandherr 08/22/2000 04:29 PM To: Steven J Kean/NA/Enron@Enron Richard Shapiro/HOU/EES@EES Joe Hartsoe/Corp/Enron@ENRON [email protected] cc: Subject: MidAmerican Draft Documents Per my first e-mail here's MidAmerican's position letter on the stand alone Reliability measure. Seems the best we can do with the utilities who have been supporting our position is to have them take a no position stance on the stand alone bill. - reliabilityonly.letter.doc
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Chili Cook Off at Rice University
Body:: calendar
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[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
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5. 'Employment arrangements'
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7. 'Empty message (due to missing attachment)'
8. 'Empty message'
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Subject:: CA Legislative Analysts Take on Governors "Solution"
Body:: nan
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[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
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7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Ed Segners Staff meeting, in 50M Dining Room
Body:: Bryson?
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[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
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5. 'Employment arrangements'
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7. 'Empty message (due to missing attachment)'
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Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Subscription Renewal
Body:: I want to keep my subscription current.
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[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
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7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: nan
Body:: Vince I agree with you that it's a lesson people need to learn over and over again. I can't tell you how many politicians I met over the past year who really don't like markets and certainly don't understand how or why they work. These aren't just the minor leaguers in Sacramento but the big league players in Washington. I also agree that the academic community can play an important role in shaping public opinion and in explaining the logic of deregulation process. I'd like to think that is in large part what I have been trying to do. Frank
What should this email be categorized as?
[/INST] Personal but in professional context <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re:
Body:: Frank I am definitely interested in the resume. I can meet the candidate on campus when I visit my son. I am planning to come to Palo Alto around Thanksgiving. Also Energy and Power Risk Management (an English publication) organizes every year in Houston a POWER RISK conference (typically in May). They ask me for recommendations regarding speakers. Would you be interested in participating? Vince Frank A. Wolak <[email protected]> on 11/13/2000 08:44:57 AM To: [email protected] cc: Subject: Vince I am writing about a student of mine who is on the job market this year. When you stopped by my office about 18 months ago you asked if I had any students that might be appropriate for your group. Although I didn't at the time now I do. This student has excellent technical skills including an M.S. in Statistics and a Ph.D. in Economics by the end of the current academic year. His dissertation research is on the investment behavior of Independent Power Producers in the US. As a result of research assistance he has done for me he knows the California market very well and is familiar with the other ISOs. I think he would be an excellent match for you. The only problem is that he will probably have many other options available. However I definitely think he's worth a look. If you'd like him to send you a CV please let me know. Thanks. Frank Wolak Professor Frank A. Wolak email: [email protected] Department of Economics Phone: 650-723-3944 (Office) Stanford University FAX: 650-725-5702 Stanford CA 94305-6072 Phone: 650-856-0109 (Home) World-Wide Web Page: Cell Phone: 650-814-0107
What should this email be categorized as?
[/INST] Employment arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: nan
Body:: Please get me Pat Wood's phone number and post a reminder on my calendar to call him ASAP
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Confidential Agreement
Body:: Jennifer: Here is the latest CA for Jerry to review. Please send him this e-mail asap. Thanks! Ben Rogers
What should this email be categorized as?
[/INST] Document editing/checking/collaboration <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Joe & Bill
Body:: Claif Briefing tomorrow US GEN market power Linda Breathitt Jordan Mintz 3-7897 Allegretti
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[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Ross Malme, in your office.
Body:: Sue Mara Lance McCarthy 37141
What should this email be categorized as?
[/INST] Logistic Arrangements <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: Public Report 09-20
Body:: Thanks. Please keep me on the list for the more detailed management report as well. Leonardo Pacheco 09/21/2000 05:36 PM To: Steven J Kean/NA/Enron@Enron cc: Subject: Public Report 09-20 -----------------
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |
<s>[INST] <<SYS>> You are reviewing an email using its subject and body. Based on the text in its subject and body, please categorize this email into one of the following categories:
1. 'Company Business/Strategy'
2. 'Purely Personal'
3. 'Personal but in a professional context'
4. 'Logistic Arrangements'
5. 'Employment arrangements'
6. 'Document editing/checking/collaboration'
7. 'Empty message (due to missing attachment)'
8. 'Empty message'
Please provide only one category (e.g., 'Purely Personal'). <</SYS>>
Subject:: Re: You Can Put A Stake in Their Hearts but They Never Die
Body:: Dr. Bowring has a PHD in economics and is a bright guy. He is the Market= =20 Monitoring Unit in PJM. While he says he generally believes that shortage= =20 is not necessarily market power he sometimes has to be reminded of that= =20 principal. Prior to PJM Joe was with the NJ Public Advocate where he did= =20 not endear himself to the regulated utilities. Since leaving the Advocate= =20 and working for PJM I think Joe has been somewhat more open to market=20 solutions and is generally cooperative in working with members to achieve= =20 market solutions to issues rather than unilaterally initiating rule changes= . =20 I find Joe easy to work with and as previously stated generally open to= =20 discussion in resolving issues and is not necessarily predisposed to a=20 solution. =20 =09Joe Hartsoe =0903/15/2001 08:36 AM =09=09=20 =09=09 To: Tom Hoatson/NA/Enron@Enron =09=09 cc:=20 =09=09 Subject: Re: You Can Put A Stake in Their Hearts but They Never Die Tom -- Is there anything you can tell them about Joe. See below. Joe
What should this email be categorized as?
[/INST] Company Business/Strategy <s> |