about US$2 billion in assets, manages significant volumes in the south central region of the
United States.
TPS, as Energy Coordinator, has overall responsibility for the projects’ energy strate-
gies, managing and monitoring the physical and financial energy commodity positions on a
daily basis, and providing communication links among the Power Manager, the Fuel
Manager, the projects and the sponsors. Its management and staff have significant experi-
ence in power development and marketing, and have been directly responsible for market-
ing, negotiating and administering long-term power sales agreements for numerous other
TECO projects.
PANDA ENERGY–TECO POWER JOINT VENTURE, UNITED STATESExhibit 13.2
Energy management plan
Power Manager
Aquila
•Take title to and manage short-term energy
sales- Communicate power market information to
the EC - Ensure reliable delivery and management of
all power-related arrangements
Fuel Manager
Noble- Manage all aspects of the fuel procure-
ment in coordination with and at the
direction of the EC - Administer all gas agreements and
strategies - Supply fuel market information to EC
Power Origination
TPS/Panda- Originate power transactions larger than 90
days in duration
•Work closely with Structure and Analysis,
Risk Control and Credit Management to
ensure proper valuation and risk mitigation
strategies
Fuel Manager
Noble- Manage all aspects of the fuel procure-
ment in coordination with and at the
direction of the EC - Adminster all gas agreements and
strategies - Supply fuel market information to EC
Operations Superintendant
TPS- Communicate prospective
changes in plant operability and
output to the EC
•Monitor plant capacity and effi-
ciency, notifying the EC of
changes in plant input/output
characteristics
Risk and Credit Managers
TPS
Risk • Manage commodity risk- Measure value and
volatility of risk.
Credit • Implement credit policies
and limits relating to
power sales, fuel sales
and transport agreements
Energy Coordinator
TPS- Coordinate all aspects of
fuel and energy trading and
operations aross all time
horizons - Provide communication link
between Power Manager,
Fuel Manager and Sponsors