re : nc power holdings deal it is my recollection that egm coal changed the contract from take - or - pay fixed volumes , fixed price to an all - requirements , as - needed contract in order to mark the deal . it was everyone ' s understanding that this contract was going to be sold , which it has been . we no longer have any control or influence over this contract .
heather
- - - - - original message - - - - -
from : mcgowan , kevin
sent : wednesday , september 12 , 2001 11 : 26 am
to : pagan , ozzie ; kroll , heather
cc : mcclellan , george ; presto , kevin m .
subject : nc power holdings deal
ozzie and heather ,
in february time frame egm coal desk sold firm delivered coal to nc power holdings balance of year ( 2001 ) for $ 72 / ton . we also did a requirements deal beyond this point . my understanding was ozzie made the balance of the year trade per kevin presto . ozzie also verified this understanding in a phone conversation with me a couple of weeks back . nc power holdings is currently not taking any coal on there take or pay obligation .
there is liquidated damages associated with this transaction which need to be settled . it will also be prudent to determine if the remaining tonnage obligation for balance of the year needs to be settled now or in the future .
please let me know who is specifically responsible to settle this trade .
kjm
re : nc power holdings deal
it is my recollection that egm coal changed the contract from take - or - pay fixed volumes , fixed price to an all - requirements , as - needed contract in order to mark the deal . it was everyone ' s understanding that this contract was going to be sold , which it has been . we no longer have any control or influence over this contract .
heather
- - - - - original message - - - - -
from : mcgowan , kevin
sent : wednesday , september 12 , 2001 11 : 26 am
to : pagan , ozzie ; kroll , heather
cc : mcclellan , george ; presto , kevin m .
subject : nc power holdings deal
ozzie and heather ,
in february time frame egm coal desk sold firm delivered coal to nc power holdings balance of year ( 2001 ) for $ 72 / ton . we also did a requirements deal beyond this point . my understanding was ozzie made the balance of the year trade per kevin presto . ozzie also verified this understanding in a phone conversation with me a couple of weeks back . nc power holdings is currently not taking any coal on there take or pay obligation .
there is liquidated damages associated with this transaction which need to be settled . it will also be prudent to determine if the remaining tonnage obligation for balance of the year needs to be settled now or in the future .
please let me know who is specifically responsible to settle this trade .
kjm