Deb,

Attached is a spreadsheet that shows my analysis of the Enron Wind Development Corp (Green Power Partners) contract(s).  The asumptions contained in the analysis assume that the following contracts remain in effect through December 31, 2002:

EESI's sale agreement with Lost Arrow, Inc. (Green Power Partners) and Patagonia
EESI's sale to EPMI for resale to EEMC (1MW ATC)
EESI's sale to EPMI for resale to LADWP(1) (21MW Sundays Off Peak)
EESI's sale to EPMI for resale to LADWP(2) (14MW Sundays ATC)
EESI's sale to various retail small commercial customers and Fetzer Vineyards

Let me know if you need any additional information.

Richard

 



 
 -----Original Message-----
From: 	Merril, Deborah D.  
Sent:	Tuesday, January 22, 2002 4:46 PM
To:	Ring, Richard
Subject:	FW: Green Power Partners



 -----Original Message-----
From: 	Ring, Richard  
Sent:	Thursday, January 17, 2002 1:50 PM
To:	Smith, Mike D.; Frazier, Lamar; Blachman, Jeremy; Schwarz, Angela; Dasovich, Jeff; Steffes, James D.
Cc:	Merril, Deborah D.; ','
Subject:	RE: Green Power Partners

The Agreements between Enron Energy Services, Inc. and Green Power Partners I LLC, are for a term endinging December 31, 2002.  The Agreement between Fetzer Vineyards and Enron Energy Services, Inc. is for a term ending April 30, 2002.  The Agreement between Lost Arrow, Inc. (Patagonia) and Enron Energy Services, Inc. is for a term ending December 31, 2002.

Additionally,  Enron Energy Services, Inc. has entered into various agreement(s) with Enron Power Marketing, Inc. to sell additional "green tickets" from the Greeen Power Partners I LLC facilities in California:

EESI sells to EPMI, 1MW ATC, through December 31, 2001 (EPMI sells to EEMC)
EPMI sells to EEMC, 1MW ATC, through June 30, 2003
EESI sells to EPMI, 21 MW's, Sundays Off Peak, through December 31, 2002 (EPMI sells to LADWP)
EESI sells to EPMI, 14 MW's, Sundays ATC, through December 31, 2002 (EPMI sells to LADWP)

I do not know for sure how whether or not EPMI still plans to deliver to EEMC and/or LADWP, however if they plan to continue these sales and depending on our decision relative to Fetzer Vineyards and/or Lost Arrow, Inc. (Patagonia), we may want to keep the Green Power Partners I LLC Agreement alive.  I have discussed the EPMI deals with LADWP with Chris Foster, EPMI Portland Office and am currently awaiting an answer from Chris as to the current status with LADWP.

Let me know if you have any questions.

Richard Ring
 

 -----Original Message-----
From: 	Smith, Mike D.  
Sent:	Thursday, January 17, 2002 1:01 PM
To:	Frazier, Lamar; Blachman, Jeremy; Schwarz, Angela; Dasovich, Jeff; Steffes, James D.
Cc:	Merril, Deborah D.; Ring, Richard; ','
Subject:	RE: Green Power Partners

In this case there is a product element because at least the 2 retail contracts I named require us to serve green. If we assume them, we have to have green to serve.

 -----Original Message-----
From: 	Frazier, Lamar  
Sent:	Thursday, January 17, 2002 12:59 PM
To:	Smith, Mike D.; Blachman, Jeremy; Schwarz, Angela; Dasovich, Jeff; Steffes, James D.
Cc:	Merril, Deborah D.; Ring, Richard; ','
Subject:	RE: Green Power Partners

I thought the call on whether a contract is rejected was an economic call and not a product call.  If this is not the case then could we be forced to swallow the other discount off tariff contracts we  intend to reject?

Further, we need to know what the revenue is against this purchase to make a call on the economics.  

Richard - Do you have the Patagonia Contract? And/or any of the other green power transactions that EES has entered into with customer's?

 -----Original Message-----
From: 	Smith, Mike D.  
Sent:	Thursday, January 17, 2002 12:50 PM
To:	Blachman, Jeremy; Frazier, Lamar; Schwarz, Angela; Dasovich, Jeff; Steffes, James D.
Cc:	Merril, Deborah D.; Ring, Richard; ','
Subject:	RE: Green Power Partners

Sounds like the economic justification for rejection is clear.  However, we need to be sure that we are not going to keep any customers where we have a contractual requirement to serve green power (Fetzer; Patagonia).  If we are comfortable that we are not, I think we can reject.

MDS

 -----Original Message-----
From: 	Blachman, Jeremy  
Sent:	Thursday, January 17, 2002 12:47 PM
To:	Smith, Mike D.; Frazier, Lamar; Schwarz, Angela; Dasovich, Jeff; Steffes, James D.
Cc:	Merril, Deborah D.
Subject:	FW: Green Power Partners

take a look at this. Unless there is a customer or regulatory reason to keep this, PPA, it would seem to me that we would want to reject this contract.

Thoughts/comments so we can proceed.

Jeremy

 -----Original Message-----
From: 	O'Neil, Murray P.  
Sent:	Thursday, January 17, 2002 11:16 AM
To:	Blachman, Jeremy
Subject:	FW: Green Power Partners

FYI...  Hope this helps in your decision making. - MO

 -----Original Message-----
From: 	Perry, Todd  
Sent:	Wednesday, January 16, 2002 5:10 PM
To:	O'Neil, Murray P.
Subject:	RE: Green Power Partners

Murry,

Our forward curves show SP-15 power at $26.57/MWh for the period 02/01/2002-12/31/2002 (note that this does not include the discount for unit-contingency that usually accompanies wind power).  Green tags trade in the market for about $1.50/MWh.  Under the "Green Tickets Sales Agreement" it appears that EES has agreed to pay $39/MWh minus the market price of power, which is approximately $12/MWh for Green Tickets using our forward curves.

Let me know if you need any additional information.

Todd

 -----Original Message-----
From: 	O'Neil, Murray P.  
Sent:	Wednesday, January 16, 2002 2:15 PM
To:	Blachman, Jeremy; Smith, Mike D.; Perry, Todd; Richter, Jeff
Subject:	FW: Green Power Partners

Attached you will find two agreements EES has with ENRON Wind. 

1- Green Ticket Purchase Sale Agreement (PPA)
2- Scheduling Coordinator Service Agreement

With EES & ENA bankruptcy and the fact that Enron Wind has not been paid for the generation back to the month of November through current, Enron Wind is attempting to move their needs to APX for SC Services.  I also think they were looking for someone else to purchase their energy.  

I put a temporary stop on their actions but we are going to need to review these contracts to determine if we want to continue operating under them.

Please let me know your thoughts as soon as possible.

Thanks - MO

 -----Original Message-----
From: 	Weatherspoon, Patricia  
Sent:	Tuesday, January 15, 2002 1:47 PM
To:	O'Neil, Murray P.
Subject:	FW: Green Power Partners

aka Enron Wind.

 -----Original Message-----
From: 	Choate, Chris  
Sent:	Tuesday, January 15, 2002 1:39 PM
To:	Weatherspoon, Patricia
Subject:	Green Power Partners

 << File: Green Tkt Sales Agrmnt_Green_Pwr_Prtnrs.pdf >>  << File: Green Tkt Sched Agrmnt_Green_Pwr_Prtnrs.pdf >> 

Chris Choate
Enron Networks
(713) 853-7370