Just FYI   -- London is under pressure to comply with the use of RisktRAC  for their VAR info  (not been done in the past) due to their recent limit increase from the board.

We are trying to stay out of it, but just FYI in case you hear any noise.  RAC is not thrilled about the delay

B
 -----Original Message-----
From: 	New, James  
Sent:	Thursday, May 03, 2001 11:15 AM
To:	Murphy, Ted; Lewis, Richard; Sherriff, John
Cc:	Jordan, Mike; Dyson, Fernley; Wilson, Shona; Apollo, Beth
Subject:	Re: UK Power

Ted,

Got your message and thanks for the understanding.

I can confirm that I understand that if we do not get RiskTrac in on the 10th we will have to revert to the old limits, however we are still on track.

James




 
James New
02/05/2001 16:46
To:	Ted Murphy/LON/ECT@ECT
cc:	Richard Lewis/LON/ECT@ECT, John Sherriff/LON/ECT@ECT 

Subject:	UK Power

Ted,

I believe you are aware that we are working to the 10th of May to start to use RiskTrac for UK Power VAR purposes (if you are not then you know now !). Are you cutting us some slack to use these limits between now and then or do we need to report violations if we are over our 'old' limits between now and then ?

Thanks 

James
---------------------- Forwarded by James New/LON/ECT on 02/05/2001 16:47 ---------------------------
From:	Cassandra Schultz/ENRON@enronXgate on 02/05/2001 10:02 CDT
To:	James New/LON/ECT@ECT
cc:	David Port/ENRON@enronXgate 

Subject:	UK Power

James -

Rick Buy's expectations after talking to Sherriff and supporting the new higher trading limits for UK Power are that UK Power's VaR will be calculated using the corporate approved VaR engine - ie., RisktRAC.  My understanding was this would be done by the May BOD meeting which was yesterday, so maybe it's already happened.  Would you please let me know the status?  

Thanks,
Cassandra.






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