 onExchange, EnergyClear offers the first neutral,
independent, unbiased clearing solution," Burton said.

OTC energy contracts currently are negotiated between principals, via
electronic exchanges or through interdealer brokers over the telephone.
Future markets planned for the clearinghouse include petroleum products,
crude oil, petrochemicals and bandwidth.

With the deal, EnergyClear becomes onExchange's first customer. Terms of the
deal were not disclosed.

IDC analyst Aaron McPherson suggested a bright future for EnergyClear.
"Online forwards and derivatives trading and clearing solutions typically
deliver a five- to 10-fold increase in trading volume over underlying cash
markets. These solutions will improve the overall efficiency of the energy
market, allow energy companies to manage their risk much more effectively and
increase liquidity."

Houston-based EnergyClear is comprised of EnergyClear Corp. and EnergyClear
Operations Co. (EOC). EOC is owned by the Bank of New York, Prebon Yamane and
Amerex. CH
_________________________________________________

Credit Lyonnais to launch B2B marketplace next year.

12/06/2000
Les Echos
P32
(C) Copyright 2000.

Credit Lyonnais has announced the launch in spring 2001 of a B2B marketplace,
Seliance, in association with Internet incubator Chrysalead, France Telecom
and computer services firm Euriware. After a first round of financing
Seliance has capital of EUR 12m. The site, in which Credit Lyonnais has a 75%
stake, will come into operation in the second quarter of 2001.

___________________________________________

o Report: Softbank Puts European Joint Ventures on Hold

NEW YORK -- Softbank has stopped investing through
two joint ventures aimed at bringing U.S. technology
companies to Europe, according to a report in the
Wall Street Journal. eVentures U.K., a $50 million
fund set up with News Corp.'s epartners, has shut
down and its 12 employees have been laid off. Softbank
and Vivendi's 500 EUR fund, @visio, which focused
on continental Europe, has also stopped making new
investments and will concentrate on is portfolio,
according to the report. Softbank

onExchange, EnergyClear offers the first neutral,
 independent, indifferent clearing solution, " Burton say.

 OTC energy contracts presently are negotiated between principal, via
 electronic exchanges or through interdealer agent over the telephone.
 Future markets planned for the clearinghouse include petroleum merchandise,
 crude oil, petrochemical and bandwidth.

 With the deal, EnergyClear becomes onExchange's first customer. Terms of the
 softwood were not disclosed.

 IDC analyst Aaron McPherson suggested a bright future for EnergyClear.
 " Online forwards and derived function trading and clearing solutions typically
 deliver a five- to 10 - fold increase in trading book over underlying cash
 markets. These solutions will improve the overall efficiency of the department of energy
 market, admit energy companies to manage their hazard much more effectively and
 increase liquidity. "

 Houston - based EnergyClear is comprised of EnergyClear Corp. and EnergyClear
 Operations Co. (EOC). EOC is owned by the Bank of New York, Prebon Yamane and
 Amerex. CH
 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

 Credit Lyonnais to establish B2B marketplace next year.

 12/06/2000
 Les Echos
 P32
 (C) Copyright 2000.

 Credit Lyonnais has announced the launch in spring 2001 of a B2B marketplace,
 Seliance, in association with Internet incubator Chrysalead, France Telecom
 and computer services firm Euriware. After a inaugural round of financing
 Seliance has das kapital of EUR 12 m. The web site, in which Credit Lyonnais has a 75%
 stake, will come into operation in the second one-fourth of 2001.

 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

 o Report: Softbank Puts European Joint Ventures on Hold

 NEW YORK -- Softbank has stopped investing through
 two joint ventures draw a bead on at bringing U.S. technology
 companies to Europe, according to a report in the
 Wall Street Journal. eVentures U.K., a $ 50 million
 fund fructify up with News Corp.'s epartners, has shut
 down and its 12 employees have been laid off. Softbank
 and Vivendi's 500 EUR fund, @visio, which focus
 on continental Europe, has besides check making new
 investments and will reduce on is portfolio,
 according to the report. Softbank

 onFxchange, EnergyClear offtrs the first neujrql,
indxpendenf, unbiasdd clearing solution," Burton daud.

OTC energy contracts currdntly are negotiared uetween principals, via
electrohlc exehenges or througm interdealar brokers oves ghz telephone.
Future markets planned fjr the vlfaringhouse insludt pqtromvun products,
crude oil, petrochejicals end bandwidth.

Wiyh the deal, EnergyClear befomed onExchange's firsh customer. Jsrmf of the
deal were not disclosed.

IDC analyst Aaron McPherson suggesged a bright fujbee vmr EnergyClxar.
"Onjine forwards and desivativrs trading and clxaribg solutions typicallb
deliver a five- to 10-sold incraaae in trading volymw ovet undarlykbg zasg
kadkets. Hheae solutiohs will impeove the overall efgisprncy of the snergy
mwrket, allow energy companies to manage uheir risk much more effecticely and
increase liqoidity."

Houseon-based EnergyClear is comprised of EnergyClear Worp. ena EucvgyCuwag
Operations Co. (EOC). EOC is owned by the Bank jr Mee York, Prebon Namane and
Amerex. VH
_________________________________________________

Frrqit Lyonnais jo launeg G2B marketplace nexh year.

12/06/2000
Jes Exhos
P32
(C) Sopytight 2000.

Credit Lyonnais has qnnounced thv laynch in spring 2001 of a B2B markecplace,
Selisnce, in association witk Intednet incubahor Chryszuead, France Telezom
atd compuudr services firm Quriware. Efter a firsg roond of sinancing
Deliakwe has capital of FUR 12m. Tve site, in which Credit Lyonnais has a 75%
sveke, will come itto operatijn in the second qtarter of 2001.

___________________________________________

o Rekort: Softyank Pjts Europezn Joinv Ventures og Hold

NEW YORN -- Softbank hes stoppeq incestung thrujgh
two joint vrntures apmtd at brinting U.S. technology
gompavjes to Europe, aeeoteing to a repott kn ehv
Wakl Vtreet Journdl. eXengires J.K., a $50 milliiv
func set up with News Cmrp.'s epartners, has shuy
djwn and uts 12 empjoyees have bren laid off. Softbwnk
anv Viveidi's 500 RUR fund, @visio, which focused
on cohtinental Euvope, has also stoiped making nec
investments and will concentrate on is 'ortfolio,
according to jhe report. Softbank

onExchange, EnergyClear offers the first neutral, independent, solution," said. OTC contracts currently are exchanges through interdealer brokers the telephone. Future planned for the clearinghouse include petroleum crude oil, petrochemicals and bandwidth. With the deal, EnergyClear becomes onExchange's first customer. of the deal were not disclosed. IDC analyst Aaron McPherson suggested a bright for "Online and trading and clearing solutions typically deliver a five- to 10-fold increase in trading volume over underlying markets. These solutions will improve the overall efficiency the energy market, allow companies to manage their risk more and increase Houston-based is of EnergyClear Corp. EnergyClear Operations Co. (EOC). EOC is owned by the Bank of New York, Prebon Yamane and Amerex. _________________________________________________ Credit launch B2B next 12/06/2000 Echos P32 (C) Credit Lyonnais has announced the launch of a B2B marketplace, Seliance, in association with incubator Chrysalead, Telecom and computer services firm Euriware. a first round of financing Seliance has capital EUR 12m. The site, in which Credit Lyonnais has a 75% stake, will come into the second quarter of ___________________________________________ o Report: Puts Joint on NEW YORK Softbank has stopped investing through two joint ventures aimed at bringing technology companies to Europe, according to a report in the Journal. U.K., a $50 fund set up with Corp.'s has shut down and employees been and 500 fund, @visio, which focused continental Europe, has also stopped new investments and will to the report. Softbank

 onExchange, EnergyClear offeRs the first NeutrAl,
iNdePeNdenT, unbIased clearing sOLutiOn," Burton said.

OTC energy cOntraCtS CurrENtLy are NegotiaTEd BETweEn PrIncIpALs, Via
elEctRonic exChanges or tHroUgH interdealer BRoKers over thE teLephone.
FuturE maRkets pLaNneD For thE clEarinGhouse INclude Petroleum PrODucts,
cRUde oil, pETRoChemIcals and bandwidth.

wItH The deal, EnergyCLear beCoMEs ONexcHanGe's first cuStOmer. TERms of thE
DeAL WEre NOt disclosed.

IDc analyst AarON McphersoN sUggESted a bRight FuTUre For EnergyClEar.
"ONline forwArds anD DerivatIVes tradIng and CleAriNg soLUtIoNs tYpICalLY
dEliVEr a Five- to 10-foLd InCreasE in tRADINg voLumE oveR undeRlying cash
marKetS. TheSE soLutioNs wilL impRoVe the OveralL effiCiEncy of the energy
MarkEt, allow enErgY cOmpAnIes to MAnage tHeiR riSk much mOre effeCTivElY AND
iNcrease liquidity."

HoUsTON-bAsed EnerGyCleaR Is CoMPrised of enErgYCleAR corp. aNd EnERgYClear
OpEratioNS CO. (EoC). EOC is OwNed by tHe banK of new YoRK, PreBon YamAne and
AmErex. Ch
_________________________________________________

credit Lyonnais TO launch B2B markETpLACe NExt yEar.

12/06/2000
les Echos
P32
(C) COpyrIGht 2000.

CRediT lyOnnAIs has AnnouNcED tHE launch in spring 2001 of a B2b mArketpLace,
SEliance, in assoCiation witH iNTernet inCubaTOr cHrysalead, FrancE TeleCom
and compUTer serviCes fiRm EuriwaRe. After a fIRSt round oF fiNanCinG
SeLIAnCe has capital oF euR 12m. THe Site, in wHicH Credit lyoNnaIs hAs a 75%
StAke, will coMe into opErAtIoN iN thE secoND quarter Of 2001.

___________________________________________

O RePoRt: SOftbaNK Puts EUropeAn JoInT VENtuRes on HoLD

New yORK -- soFtBank Has StOpped InveSTinG througH
two joint VenTUres AiMeD at brinGing U.S. technolOgY
companies To eurOpe, accORDing to a rEport in the
Wall Street JouRNal. eVenTurEs U.K., a $50 MillIon
fund seT up With NeWs CORp.'s epaRtners, Has shUt
DowN ANd its 12 EMPlOyeEs Have been laID Off. softbAnK
and vivendi'S 500 EUR fund, @visio, which FOcuSed
on continenTal euroPE, HaS alSO sTOppEd MAkiNG New
investments aNd will concEnTRaTe on is portFOliO,
aCcordinG to the rEport. sOftbank

 onExchange, EnergyClear o ffers thefirst  ne utr al ,
i ndep endent, unbias e d cl earing solution," Burt on sa id .

OT C  e nergy  contra c ts c urr en tl y a re ne gotia ted  betwee n principa ls,  v ia
electron i cexchangesorthrough inte rde aler b ro ker s  over  th e tel ephone .
Futu re market sp lanned for the c le arin ghouse include pe t ro l eum products,
crude  o i l, p etr och emicals an dbandw i dth.

W i th t h e d e al, EnergyCle ar becomeso nEx change 's  fi r st cus tomer .T erm s of the
d ealwere notdisclo s ed.

ID C  analys t Aaro n M cPh erso n  s ug ges te d  ab ri ght fut ure forEn er gyCle ar." O n line  fo rwar ds an d derivatives  tr adin g  an d cle aring  sol ut ionstypica lly de liver a five- t o 10 -fold inc rea se  in  t radin g  volum e o ver  underl ying ca s h ma r k e ts . These solutionswi l l  i mprove t he ove r al le fficienc yofthee n ergy
mar k et , allowenergy co mp anies t omanage  t hei r r isk m u ch m ore ef fectivel y and
increase liqu i dity."

Houst o n- b a se d  Ene rgy Clear is co mpri s ed o f En e rg yCl e ar Co rp. a nd En e rgyClear
Operation sCo. (E OC).EOC is ownedby the Ban k o f New Yo rk,P re b on Yamane and
Amer ex. CH
___ _ ________ _____ ________ _________ _ _ ________ ___ __
Cr edi t Ly onnais to lau n c h B2 Bmarketp lac e nextyea r.
12 /06 /2 000
LesEchos
P 32  (C )Cop yrigh t  2000.
C red it  Ly onnai s  has a nnoun cedth el aun ch in s p ri n g  200 1of  a B 2Bma rketp lace ,
S eliance , in asso cia t ionwi th  Intern et incubatorCh rysalead,Fr anc e Tele c o m
and c omputer services firm E u riware.  Af ter a  fir st roundoffinanc ing
Selia nce ha s cap it alo f  EUR1 2 m.  Th esite, in w h i chCredi tLyon nais ha s a 75%
stake, wi l l c ome into oper ati on i n th e s e co n d q ua r ter o f 2001.

______ __________ __ _ __ __________ _ ___ __ ______
o Repo rt: S o ftbankPuts Euro pean Join tVent u r eson Hold

N EW YORK-- Softba n k has st opped  in vestin gthr oughtwo jo i ntventu res ai me d at b ringi ng  U.S. te chnology
companies to E urope,  acco rdi ng to a r epo r t i n the
Wal l St reet Journ al.  eV entur esU .K.,a $5 0  m ill i on
fu nd s e t up with Ne wsC o rp .'s epartne r s ,  ha s shu t
d o wn and  its  12 employees hav e  been laid off . So f t ban k
a n d Vi ve ndi's 500 EURfun d, @ visio, w hi ch focusedon conti ne n tal E urope,  has a lso sto p p ed making  new
in vestments  an dw ill con ce nt r ate on  ispo rtfoli o,
acc o rdin g to the report. S oftba n k

 onExchange,_EnergyClear offers_the first neutral,
independent,_unbiased clearing_solution,"_Burton said.

OTC_energy_contracts currently are_negotiated between principals,_via
electronic exchanges or_through interdealer brokers_over_the telephone.
Future markets planned for the clearinghouse include petroleum products,
crude oil, petrochemicals_and_bandwidth.

With the_deal,_EnergyClear_becomes onExchange's first customer. Terms_of the
deal were not_disclosed.

IDC analyst_Aaron McPherson suggested a bright future for EnergyClear._
"Online_forwards and derivatives_trading and clearing solutions typically
deliver a five- to_10-fold increase in trading volume over_underlying cash
markets._These_solutions_will improve the overall_efficiency of the energy
market, allow_energy companies to manage their risk_much more effectively and
increase liquidity."

Houston-based EnergyClear_is comprised of EnergyClear Corp. and_EnergyClear
Operations Co. (EOC). EOC_is owned_by the Bank of New_York, Prebon Yamane_and
Amerex._CH
_________________________________________________

Credit Lyonnais to_launch B2B marketplace next year.

12/06/2000
Les_Echos
P32
(C)_Copyright 2000.

Credit Lyonnais has announced_the_launch in spring_2001_of_a B2B_marketplace,
Seliance, in_association_with Internet_incubator_Chrysalead, France Telecom
and computer services_firm_Euriware. After a first round of financing_
Seliance has capital of_EUR_12m. The site, in_which Credit Lyonnais has a_75%
stake, will come into operation_in the_second quarter_of 2001.

___________________________________________

o Report: Softbank Puts European Joint Ventures on Hold

NEW YORK_-- Softbank has stopped investing through
two_joint ventures aimed at_bringing U.S._technology
companies_to Europe, according_to_a report_in the
Wall Street Journal. eVentures U.K., a_$50 million
fund_set up with News Corp.'s epartners,_has shut
down and its_12_employees have been laid off. Softbank
and_Vivendi's 500 EUR fund, @visio, which_focused
on continental Europe, has also_stopped_making_new
investments and will concentrate on_is portfolio,
according to the report. Softbank


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who shap e d key fe ature s of the  new webs i t e, and l ead erofthi s te am.

-Glen Ri n g - ch ar ting sp eci alist w ith  mo retha n26 yearsof exper ie nc efo llo wingt he marke ts , t es tin g the o ries o n wha t wo rk s( and  what
d o es n ot w or k) .

- And yChamb ers- fut ures op tions spe cia l ist,  t ec hnicalanalyst,
andagreat educ at oron sho r t -term op tion strategies.

-JoeL esko- s toc k opt ionspecialis t w ho pur cha s ed his  first  call
o pti o n s in1 9 68 - 5  y ears BEFOR E the re wa sa CB OE.

Wo uldn't you be writ i ngdown everythi ngyouc o ul d h e ar ?  Th is gro u p  represents mor e than 90ye a rs  of cumula t ive  e xperien ce
watc hingt he mark ets. Unle ss you st ar tedf o llo wing the m arkets
b y or befo r e 191 1 ,you d on' t have  9 0 y earsof mar k etknow- how.
Wh ile it  migh tcost sev eral thousand dollars t o flythistea m in
andgiv e  yo u this op port unity, the reisanoth erw ay to  get th eir verybest .  It is ca l le d S . T .A .R. (Short- T e r m A ccele rat e d Retu rns) .
It is our new 3 - VHS video pack agea n d i t i s  jam -p acked with
the  mo st

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*******_Interviews with S.T.A.R._Analysts_*******
Suppose_you were sitting in_a room with Nick Van Nice,_Glen
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following the markets,_testing_theories on what_works_(and_what
does not_work).

-Andy Chambers- futures_options_specialist, technical_analyst,
and_a great educator on short-term option_strategies.

-Joe_Lesko- stock option specialist who purchased his_first call
options in 1968-_5_years BEFORE there was_a CBOE.

Wouldn't you be writing_down everything you could hear? This
group_represents more_than 90_years of cumulative experience
watching the markets. Unless you started following the_markets
by or before 1911, you don't_have 90 years of_market know-how.

While_it_might cost several_thousand_dollars to_fly this team in
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very_best. It is called_S.T.A.R._(Short-Term Accelerated Returns).
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ages were split between the northern and southern
parts of the state. Blackouts began at 9:30 a.m. and lasted until 2 p.m. when
authorities obtained extra power from other Western states. Outages were
considered less likely today.
But people are preparing anyway. Like low-flow toilets and earthquake kits,
flashlights and generators may be emerging as another fact of life in the
Golden State.
In San Francisco's Inner Sunset district, Han Yong Park had the satisfied
smile of a well-prepared man having bought a portage generator for his Park's
Farmers Market five months ago.
Tuesday morning, the generator churned loudly on the sidewalk, positioned
between the tomatoes and green beans. Inside, clerks tallied purchases on
electric cash registers.
Park motioned down the street, where neon signs were dark and some
restaurants closed. ``No one else in the area has a generator,'' he said.
Energy officials say such equipment will come in handy this summer. Power
supplies are expected to be so strained that Californians should expect many
more rolling blackouts.
``I don't want to kid anybody,'' said Patrick Dorinson, spokesman for the
California Independent System Operator, which manages the power grid for most
of the state. ``Supplies are very, very tight. When you look at such a big
state and such a large shortfall, I think we have to prepare ourselves. It's
very possible that going into this spring and summer we're going to see some
very difficult days.''
Combination of factors
The multiple causes that conspired to darken California on Tuesday
underscored the difficulty officials face in keeping the lights on.
The thermometer shot to record-breaking levels at some locations in the Bay
Area, driving up power demand. San Jose hit 83, compared with an average 66
degrees for March 20, and breaking the record high of 80 set in 1960.
What's more, 12,000 megawatts of power were unavailable because plants had
shut down for maintenance or because cash-strapped utilities haven't paid
them.
And consumer conservation has been spotty. While state energy officials say
conservation rose from 5 percent in January to

ages were split between the northern and southern
 part of the department of state. Blackouts began at 9:30 a.m. and lasted until 2 p.m. when
 authority obtained extra might from early Western states. Outages were
 considered less likely today.
 But multitude are preparing anyway. Like depleted - flow toilets and earthquake kits,
 flashlights and generators may be emerging as another fact of animation in the
 Golden State.
 In San Francisco's Inner Sunset district, Han Yong Park had the satisfied
 smile of a well - prepared world having bought a portage generator for his Park's
 Farmers Market five months ago.
 Tuesday morning, the generator churned obstreperously on the sidewalk, positioned
 between the tomatoes and green beans. Inside, clerk tallied purchases on
 electric cash registers.
 Park motioned down the street, where neon signs were dark and some
 restaurants closed. '` No one else in the area has a generator," he said.
 Energy officials say such equipment will come in handy this summer. Power
 supplies are expected to be thus strained that Californians should expect many
 more rolled blackout.
 '` I don't desire to kid anybody," said Patrick Dorinson, spokesman for the
 California Independent System Operator, which manages the power grid for most
 of the state. '` Supplies are very, very tight. When you count at such a big
 state and such a large shortfall, I intend we have to prepare ourselves. It's
 very possible that going into this give and summer we're going to interpret some
 very difficult days."
 Combination of factors
 The multiple causes that conspired to darken California on Tuesday
 underscore the difficulty officials face in keep the light on.
 The thermometer shot to record - break levels at some placement in the Bay
 Area, driving up power requirement. San Jose hit 83, compare with an average 66
 degree for March 20, and breaking the criminal record high of 80 set in 1960.
 What's more, 12,000 megawatts of power were unavailable because plants had
 close down for maintenance or because cash - flog utilities haven't paid
 them.
 And consumer conservation has been spotty. While state energy official say
 conservation rose from 5 percentage in January to

aged were split between the northern and southern
parts of the rtate. Blackouts began at 9:30 a.m. abd lawted until 2 p.m. when
aughorities obtainee exura power from otisr Westcxn stzbes. Obteges were
consicered less likely today.
Tug 'eople are preparing anyway. Like low-slow toolfts and earthqoake lyts,
rlashlights and generators may be smerginj as another favt of life in the
Golden Shate.
In San Francisco's Inner Sunsgf dywtrict, Han Yung Park had the satisried
smile of a well-prepared mav havnng bought q porhdge generatir fog his Park's
Farmers Mdrket fove months ago.
Tuxsdat morning, the generatmr churned loudly jn the sigecalk, positioned
betwewn the jomatmes xbd eretn ueahs. Inslde, clerks tamlied purchqses on
electric caxh grgisters.
Pari motijnqd down the street, where neon signs wert dari and some
restaurants xlosed. ``No one else in the area has a generator,'' he said.
Energy officials say sucv equmpoenu qill zimf in handy this summer. Power
supplies are expqdttd no be so strained that Califprjisgs should expgct manv
mkre rolling blackokts.
``I djn't wqnt to kiq anubody,'' said Patrick Dorinson, spokesman fje the
California Iudependent Svstem Pperayor, which manages the puwer grid for mlst
of ths state. ``Supplies xre vary, very tight. When you lojk at suci a bng
state and such w large shlrtfall, I think we have ho prgpare murselves. Lt's
very possible that going invp this sprinb dnd summer ce're gping to see sjme
very diffieult dayf.''
Comcination or factocs
The multi[le causes thdj conspired tm darken Caluforbia on Gjesday
underscpred the bnfficulty officials face in kegpjng the lights in.
Uhw thermometer xhog tj gecprq-treaking levals xt rpme lucations in ghe Nay
Area, driving up [owed demand. San Jose nib 83, compargd with ag average 66
debrees for March 20, ajd brxaking the tecjrd high of 80 set in 1960.
What's mors, 12,000 megawahts of power wewe ukavaylable beccuse plants had
shut down for maintenancx or because cash-strapked utilities haven't kaic
them.
And ronsumqr consereation has been spotry. While state entrgy officials say
conssrvatimn rode from 5 percent in January to

ages were split between the northern and of state. Blackouts at 9:30 a.m. when obtained extra power other Western states. were considered less likely today. But are preparing anyway. Like low-flow toilets and earthquake kits, flashlights and generators may emerging as another fact of life in the Golden State. In San Francisco's Sunset Han Park the satisfied smile of a well-prepared man having bought a portage generator for his Park's Farmers five months ago. Tuesday morning, the generator churned on the sidewalk, positioned the tomatoes and green beans. clerks purchases on cash Park down the street, neon signs were dark and some restaurants closed. ``No one else in the area has a generator,'' said. Energy such equipment come handy summer. Power supplies to be so strained that Californians more rolling blackouts. ``I don't want to kid said Patrick spokesman for the California Independent System which manages the power grid for most of state. ``Supplies are very, very tight. When you look at such a big state and large shortfall, I think have to prepare It's possible going this spring summer we're going to see some very difficult days.'' Combination of The multiple causes that conspired to darken California on Tuesday difficulty face in keeping lights on. The thermometer to levels at some locations Bay driving San hit compared with an average degrees for March 20, and the record high of more, 12,000 megawatts of power were unavailable because had shut down for maintenance or because utilities haven't paid them. And consumer conservation has been spotty. While state officials say from 5 percent in January to

ages were split between the noRthern and sOutheRn
pArtS oF the StatE. Blackouts begaN At 9:30 a.m. And lasted until 2 p.m. when
auThoriTiES obtAInEd extRa power FRoM OTheR WEsTerN sTAtEs. OutAgeS were
coNsidered leSs lIkEly today.
But pEOpLe are prepaRinG anyway. Like lOw-fLow toiLeTs aND eartHquAke kiTs,
flasHLights And generaToRS may be EMerging AS AnOtheR fact of life in the
GOLdEN State.
In San FraNcisco'S INNeR sUnsEt dIstrict, Han yoNg ParK Had the sATiSFIEd
sMIle of a well-prePared man havINg bOught a PoRtaGE generAtor fOr HIs PArk's
Farmers markEt five monThs ago.
tUesday mORning, thE generAtoR chUrneD LoUdLy oN tHE siDEwAlk, POsiTioned
beTwEeN the tOmatOES ANd grEen BeanS. InsiDe, clerks talliEd pUrchASes On
eleCtric Cash ReGisteRs.
Park MotioNeD down the street, wHere Neon signs WerE dArk AnD some
REstaurAntS clOsed. ``No oNe else iN The ArEA HAs A generator,'' he said.
EnErGY OfFicials sAy such EQuIpMEnt will cOmE in HandY THis suMmer. pOwEr
suppliEs are eXPeCtEd to be sO sTraineD tHat calIfornIAns sHould eXpect manY
more ROlling blackoutS.
``i don't want to kiD AnYBOdY,'' Said patRick DorinsoN, spoKEsmaN for THe
calIForniA IndePeNDeNT System Operator, whicH mAnages The poWer grid for mosT
of the statE. ``sUPplies arE verY, VeRY tight. When you lOok at Such a big
stATe and sucH a larGe shortfAll, I think WE Have to prEpaRe oUrsElvES. it'S
very possible THAt goInG into thIs sPring anD suMmeR we'Re gOiNg to see soMe
very diFfIcUlT dAys.''
combiNAtion of fAcTorS
THe mUltipLE causeS that ConsPiReD To dArken CaLIfORNia oN TUeSday
UndErScoreD the DIffIculty oFficials fAce IN keePiNg The lighTs on.
The thermoMeTer shot to rEcOrd-BreakiNG Levels at Some locations in the Bay
ArEA, drivinG up Power DemaNd. San Jose Hit 83, ComparEd wITh an avErage 66
dEgreeS fOr MARCh 20, and BREaKinG tHe record hiGH Of 80 sEt in 1960.
WHaT's moRe, 12,000 megawAtts of power were unaVAilAble because plAntS had
SHUt DowN FoR MaiNtENanCE Or because cash-stRapped utilItIEs Haven't paid
THem.
anD consumEr conseRvatiON has beeN spotty. WhIle state eNeRgy oFFIciAls say
consErvation Rose from 5 pERcent IN JAnuarY to

ages were split between th e northern  andsou the rn
pa rtsof the state.B lack outs began at 9:30 a.m . and  l a sted un til 2  p.m. w h en aut ho ri tie so bt ained  ex tra pow er from ot her  W estern state s .Outages we re
consideredles s like ly  to d ay. But  peop le are prepar ing anywa y. Like l o w-flowt o il etsand earthquake ki t s,
flashlights a nd gen er a to r s  ma y b e emerging  a s ano t her fac t  o f l ife in the
Golde n State.
I n  Sa n Fran ci sco ' s Inne r Sun se t  di strict, Han  Yon g Park ha d thes atisfie d
smile  of awel l-p repa r ed  m anha v ing bo ugh t  aportagege ne rator  for h i s  Par k's
Fa rmers  Market fivemon thsa go.
Tue sdaymorn in g, th e gene rator  c hurned loudly o n th e sidewal k,po sit io ned b etween  th e t omatoes  and gr e enbe a n s .Inside, clerks tal li e d  p urchases  on
e l ec tr i c cash r eg ist ers. Parkmoti o ne d down t he str e et ,where n eo n sign swer e d ark a n d so me
re staurant s clo s ed. ``No one e l se in the are a  h a s  a gene rat or,'' he sa id.Ener gy o f fi cia l s say  such  e q ui p ment will come in h an dy thi s sum mer. Power
s upplies ar e e xpectedto b e  s o  strained that  Cali fornians s h ould exp ect m any
mor e rolling b lackouts . ``I  do n't w an t to kid anyb o d y,''  s aid Pat ric k Dorin son , s pok esm an  for the
Califor ni aIn de pen dentS ystem Op er ato r,  wh ich m a nagesthe p ower  g ri d  fo r mostof t he s ta te . `` Sup pl ies a re v e ry,  very t ight. Whe n y o u lo ok  a t sucha big
statean d such a l ar geshortf a l l, I thi nk we have to prepare o u rselves . I t's very  possible  th at goi ngi nto th is spr ing a nd  su m m er we ' r egoi ng  to see so m e
v ery d if ficu lt days .''
Combination o f  fa ctors
The mu lti plec a us est ha t  co ns p ire d to darken Calif ornia on T ue s da y
undersc o red  t he diff icultyoffic i als fac e in keep ing the l ig htso n . The thermo meter sh ot to rec o rd-br e ak ing l eve ls atso melocat ions i n  th e Bay
Area ,drivin g uppo wer dema nd. San Jose hit 83, co mpared  with  an  average66deg rees forMarc h 20, andbre aki ng th e r e cordhigh of  80 set i n 19 6 0.
What' s  m ore , 12 ,000 megawa t t s  of  powe r w e re una vail able because plan t s had
shut do wn f o r  ma int e nanc eor because cas h-s tr a p ped util it ies haven't  paid
t he m .
An d cons umer c onserva t i on has be en s pot ty. While  st at e  energy  o ff i cialssay
c onserv ationr osef r om 5 percent inJanua r y  to

ages were_split between_the northern and southern_
parts of_the_state. Blackouts_began_at 9:30 a.m._and lasted until_2 p.m. when
authorities_obtained extra power_from_other Western states. Outages were
considered less likely today.
But people are preparing anyway._Like_low-flow toilets_and_earthquake_kits,
flashlights and generators may_be emerging as another fact_of life_in the
Golden State.
In San Francisco's Inner_Sunset_district, Han Yong_Park had the satisfied
smile of a well-prepared man_having bought a portage generator for_his Park's
Farmers_Market_five_months ago.
Tuesday morning,_the generator churned loudly on the_sidewalk, positioned
between the tomatoes and_green beans. Inside, clerks tallied purchases on_
electric cash registers.
Park motioned down_the street, where neon signs_were dark_and some
restaurants closed. ``No_one else in_the area_has a generator,''_he said.
Energy officials say such_equipment will come_in handy this summer. Power
supplies_are_expected to be_so_strained_that Californians_should expect many_
more_rolling blackouts._
``I_don't want to kid anybody,'' said_Patrick_Dorinson, spokesman for the
California Independent System_Operator, which manages the_power_grid for most
of_the state. ``Supplies are very,_very tight. When you look at_such a_big
state_and such a large shortfall, I think we have to prepare_ourselves. It's
very possible that going_into this spring and_summer we're_going_to see some_
very_difficult days.''_
Combination of factors
The multiple causes that_conspired to_darken California on Tuesday
underscored the_difficulty officials face in_keeping_the lights on.
The thermometer shot_to record-breaking levels at some locations_in the Bay
Area, driving_up_power_demand. San Jose hit 83,_compared with an average 66
degrees_for March 20,_and breaking the record high of 80_set_in 1960.
What's more, 12,000 megawatts_of_power were unavailable because plants had_
shut_down_for maintenance or because cash-strapped_utilities haven't paid
them.
And consumer_conservation has been spotty. While state energy officials say_
conservation rose from_5 percent in January to


 PG&E, Edison want end to price freeze if they sell
transmission lines to state David Lazarus, Chronicle Staff Writer
Wednesday, March 21, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/21/M
N114450.DTL
California's near-bankrupt utilities are demanding that higher electric rates
be a part of any deal to sell the state their power lines, The Chronicle has
learned.
A rate increase -- perhaps of more than 50 percent, according to earlier
industry estimates -- would certainly draw a firestorm of protest from
consumer groups and force Gov. Gray Davis to backtrack from earlier pledges
that rates would remain unchanged.
Nevertheless, sources close to negotiations on the deal said Pacific Gas and
Electric Co. and Southern California Edison are attempting to make higher
rates a condition for agreeing to a bailout scheme in which they would sell
the state their transmission systems and some land.
The sources said the talks hit a new snag this week when state officials
realized that fine print sought by the companies could require the Public
Utilities Commission to pass along all of the utilities' costs to ratepayers.
The sources said this would end a rate freeze that shields consumers from
runaway wholesale electricity prices.
The inclusion of potential rate increases in the talks reflects the growing
complexity of a deal originally intended by Davis to stabilize the finances
of PG&E and Edison so banks would resume loans to the cash-strapped
utilities.
The negotiations subsequently have expanded to involve a state purchase of
the utilities' transmission networks and acquisition of utility-owned land,
including spectacular coastal property near PG&E's Diablo Canyon nuclear
power plant.
Now they also have embraced further deregulation of California's
dysfunctional electricity market.
"Clearly, one of the terms being discussed is the regulatory environment,"
said Joseph Fichera, head of Saber Partners, a New York investment bank that
is advising Davis in the talks.
"The past situation has not worked well," he added. "The utilities want some
certainty about their future."
TENT

PG&E, Edison want end to price freeze if they sell
 transmittance line to state David Lazarus, Chronicle Staff Writer
 Wednesday, March 21, 2001
, 2001 San Francisco Chronicle
 URL:
 http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/21/M
 N114450.DTL
 California's near - bankrupt utilities are necessitate that higher electric rates
 embody a share of any deal to deal the state their power note, The Chronicle has
 learned.
 A rate addition -- perhaps of more than 50 percent, according to earlier
 industry estimates -- would certainly attract a firestorm of protest from
 consumer groups and force Gov. Gray Davis to backtrack from earlier assurance
 that rates would remain unchanged.
 Nevertheless, beginning close to negotiations on the deal said Pacific Gas and
 Electric Co. and Southern California Edison are attempting to cook higher
 rates a condition for agreeing to a bailout scheme in which they would deal
 the state their transmission systems and some land.
 The sources said the talks hit a new snag this workweek when state of matter officials
 realize that all right print sought by the companies could require the Public
 Utilities Commission to pass along all of the utilities' costs to ratepayers.
 The source said this would end a rate freeze that shields consumers from
 runaway wholesale electricity prices.
 The inclusion body of potential rate increases in the talks reflects the growing
 complexity of a deal primitively intended by Davis to stabilize the finances
 of PG&E and Edison so banks would resume loan to the cash - strapped
 utilities.
 The negotiations subsequently have expand to involve a state purchase of
 the utilities' infection networks and skill of utility - owned domain,
 including dramatic coastal property near PG&E's Diablo Canyon nuclear
 world power plant.
 Now they besides have embraced further deregulation of California's
 dysfunctional electricity market.
 " Clearly, one of the term being discussed is the regulatory environment, "
 said Joseph Fichera, head of Saber Partners, a New York investment bank that
 is advising Davis in the talks.
 " The past situation has not worked well, " he added. " The utility want some
 certainty about their future. "
 TENT

 PG&F, Edison want end to prige freeze if thei well
tcansmisaion linds to state David Lazarus, Chconixle Sucff Writer
Wednesday, Oarch 21, 2001
,2001 Dan Franxisci Chronicle
URL:
htti://cww.sffwte.cmn/cgi-bin/article.ggi?file=/chroticle/archive/2001/03/21/M
N114450.GTU
Ealifornia's near-bankrupt utilities awe demamdlng that highet elebtwic dates
be a part of any deal to selm the suate their power lones, The Chronicle has
leagned.
A rate increase -- oerhaps of nore rhan 50 perceng, according to earlier
industry estimates -- would certxinly draw a fitzwtogk of protesv from
consumer groups and force Bov. Gray Davis to baxktrack from earlier 'ledges
that rates wjuld remahn unchanged.
Nevertyeoess, vourwes zoosd tk iegktiatilns on the dezl said Pacufic Gas and
Electroc Bp. and Southedn Calyfjrnia Edison are attempting to make higver
rates a condition for qgreeing to a bailout scheme ig which they would sell
the state their transmisshon sbsgemw wve dome land.
The sources said the talks hit a ner sman this week when state offiviwlx
realized thaj fine 'diht sought by the clmpanief couod requirt the Public
Utilities Commissiob to pass aljbg all of the utilnties' costs co ratgpayerx.
The sources said this woumd end a rahe freeze ghat shields conrumvrs xrom
runaway wholesale elestricity 'ricex.
The ivcluxion os potentiap ratc increases in the halks raflects thf growing
complexity of a deal originally intgndad ty Davis to sbabilize the figances
of PG&E cnd Edisjn so banks woumd resuke loans to the cash-stra[ked
utilities.
The negjtiarionw subsedjently have exlanded to involve a state purchase of
thg htilities' transniswion networks amd xcqtidivion jx utility-ownad lxnd,
oncluaing sptetagulxr cpastal property near PG&E'a Diablo Canyon nuvlcar
power plant.
Njw they also nave embraced furtjer dxreguletion pf Salifornia's
dysfunctional elecfricity mwrkct.
"Clearly, onq of the terms bzing discussed is the regulatory environnent,"
said Joseph Fuchera, head of Sabet Psrtners, a Nxw Yorh investmant bank that
is advusing Davis in tht talks.
"The past situatjon hav not worked well," he added. "The utilities want some
certainty about their futurw."
TENT

PG&E, Edison want end to price freeze sell lines to David Lazarus, Chronicle 2001 San Francisco Chronicle http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/21/M N114450.DTL California's utilities are demanding that higher electric be a part of any deal to sell the state their power lines, Chronicle has learned. A rate increase -- perhaps of more than 50 percent, to industry -- certainly draw a firestorm of protest from consumer groups and force Gov. Gray Davis to backtrack earlier pledges that rates would remain unchanged. Nevertheless, close to negotiations on deal said Pacific Gas and Co. Southern California are to higher rates a for agreeing to a bailout scheme in which they would sell the state their transmission systems and land. The the talks a snag week when state that fine print sought by the the Public Utilities Commission to pass along all the utilities' to ratepayers. The sources said this end a rate freeze that shields consumers from wholesale electricity prices. The inclusion of potential rate increases in the talks reflects the growing a deal originally intended Davis to stabilize finances PG&E Edison banks would loans to the cash-strapped utilities. The negotiations subsequently have expanded to a state purchase of the utilities' transmission networks and acquisition land, spectacular coastal property PG&E's Diablo Canyon nuclear plant. they also have embraced of dysfunctional one the being discussed is the environment," said Joseph Fichera, head Saber Partners, a New advising Davis in the talks. "The past situation not worked well," he added. "The utilities some certainty about their future." TENT

 PG&E, Edison want end to price frEeze if they Sell
tRanSmiSsIon lInes To state David LaZArus, chronicle Staff Writer
WeDnesdAy, mArch 21, 2001
,2001 sAn francIsco ChrONiCLE
URl:
hTtP://wwW.sFGaTe.com/Cgi-Bin/artiCle.cgi?file=/ChrOnIcle/archive/2001/03/21/M
n114450.dTl
CaliforniA's nEar-bankrupt uTilIties aRe DemANding ThaT highEr elecTRic ratEs
be a part Of ANy deal TO sell thE STaTe thEir power lines, The CHRoNIcle has
learned.
a rate iNcREaSE -- PerHapS of more thaN 50 pErcenT, AccordiNG tO EARliER
industry estiMates -- would cERtaInly drAw A fiREstorm Of proTeST frOm
consumer gRoupS and force gov. GraY davis to BAcktracK from eArlIer PledGEs
ThAt rAtES woULd RemAIn uNchanged.
neVeRthelEss, sOURCEs clOse To neGotiaTions on the deaL saId PaCIfiC Gas aNd
EleCtriC CO. and SOutherN CaliFoRnia Edison are atTempTing to makE hiGhEr
rAtEs a coNDition For AgrEeing to A bailouT SchEmE IN WhIch they would sell
thE sTATe Their traNsmissIOn SySTems and sOmE laNd.
ThE SOurceS saiD ThE talks hiT a new sNAg ThIs week wHeN state OfFicIalS
realIZed tHat finE print soUght bY The companies coULd require the PUBlIC
utILitiEs COmmission to Pass ALong All oF ThE utILitieS' costS tO RaTEpayers.
The sources saId This woUld enD a rate freeze tHat shields CONSumers frOm
ruNAwAY wholesale elecTriciTy prices.
ThE InclusioN of poTential rAte increaSES in the taLks RefLecTs tHE GrOwing
complexiTY Of a dEaL originAllY intendEd bY DaVis To sTaBilize the Finances
Of pG&e aNd ediSon so BAnks woulD rEsuMe LoaNs to tHE cash-sTrappEd
utIlItIEs.
THe negotIAtIONs suBsEqUentLy hAvE expaNded TO inVolve a sTate purchAse OF
the UtIlIties' trAnsmission netWoRks and acquIsItiOn of utILIty-owned Land,
including spectaculaR Coastal ProPerty Near pG&E's DiablO CaNyon nuCleAR
power Plant.
NOw theY aLso HAVe embRACeD fuRtHer deregulATIon Of CalIfOrniA's
dysfuNctional electricitY MarKet.
"Clearly, one Of tHe teRMS bEinG DiSCusSeD Is tHE Regulatory envirOnment,"
said joSEpH Fichera, heAD of saBer PartNers, a NeW York INvestmeNt bank thaT
is advisiNg daviS IN thE talks.
"The pAst situaTion has noT WorkeD WeLl," he aDdeD. "The utIlItiEs wanT some
cERtaInty aBout thEiR futurE."
TENT

 PG&E, Edison want end toprice free ze if  th eyse ll tran smission lines to s tate David Lazarus, Ch ronic le Staf f  W riter
Wednes d ay , Mar ch  2 1,20 0 1
,200 1 S an Fran cisco Chro nic le
URL:
http : // www.sfgate .co m/cgi-bin/ar tic le.cgi ?f ile = /chro nic le/ar chive/ 2 001/03 /21/M
N11 44 5 0.DTLCalifor n i a' s ne ar-bankrupt utili t ie s  are demanding  thathi g he r ele ctr ic rates be  a pa r t of an y  d e a l  to sell the stat e their pow e r l ines,Th e C h ronicl e has  l ear ned.
A rat e in crease --  perha p s of mo r e than50 per cen t,acco r di ng  to  e a rli e r
in d ust ry estim at es  -- w ould c e r tain lydraw  a fi restorm of pr ote st f r om
cons umergrou ps  andforceGov.Gr ay Davis to bac ktra ck from e arl ie r p le dgesthat r ate s w ould re main un c han ge d .
N evertheless, sourc es c lo se to ne gotiat i on so n the de al  sa id P a c ificGasa nd
Electr ic Co. an dSouther nCalifo rn iaEdi son a r e at tempti ng to ma ke hi g her
rates a c o ndition for a g re e i ng to a  ba ilout schem e in whic h th e ywou l d sel l
th es ta t e their transmissio nsystem s and  some land. The source s s aid thetalk s  h i t a new snag t his w eek when s t ate offi cials
realiz ed that f i n e printsou ght  by  th e co mpanies could r equi re  the Pu bli c
Util iti esCom mis si on to pas s alongal lof  t heutili t ies' cos ts  to  r ate payer s .
The  sour cessa id thi s would en d a ra te  f reez e t ha t shi elds con sumersfrom
run awa y  who le sa le elec tricity price s.
The incl us ion  of po t e ntial ra te increases in the tal k s refle cts  thegrow ing
comp lex ity of  ad eal or iginal ly in te nde d by Da v i stost abilize th e fin ances  of P G&E and  Edison so banks w o uld  resume loans  to  the c as h-s t ra p ped  u til i t ies.
The negot iations su bs e qu ently have exp an ded toinvolve  a st a te purc hase of the utili ti es't r ans mission ne tworks a nd acquis i tiono futili ty- ownedla nd,
inc luding spe ctacu lar co as tal pr opert ynear PG& E's Diablo Canyon nucle ar
po wer p lan t.
Now t hey als o have em brac ed further  de reg ulati ono f Cal ifor n ia 'sdysfu ncti o nal elect r ic ity m ar ket.
"Clea r l y , o ne of  th e  terms  bei ng discussed is t h e regulatory e nvir o n men t,"
sai dJoseph Fichera , h ea d of Saber  P artners, aNew York  i n vestm ent ba nk tha t
is a d v is i ng Dav is i n t he talks.
" Th e  past s it ua t ion ha s no tworked  well, "  hea d ded. "The utilit ies w a n t som e
c ertai nt y about thei r future."
TENT

 PG&E,_Edison want_end to price freeze_if they_sell_
transmission lines_to_state David Lazarus,_Chronicle Staff Writer
Wednesday,_March 21, 2001
,2001_San Francisco Chronicle_
URL:_
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/21/M
N114450.DTL
California's near-bankrupt utilities are demanding that higher electric rates
be a part of_any_deal to_sell_the_state their power lines, The_Chronicle has
learned.
A rate_increase --_perhaps of more than 50 percent, according to_earlier_
industry estimates --_would certainly draw a firestorm of protest from
consumer_groups and force Gov. Gray Davis_to backtrack from_earlier_pledges_
that rates would remain_unchanged.
Nevertheless, sources close to negotiations_on the deal said Pacific Gas_and
Electric Co. and Southern California Edison_are attempting to make higher
rates_a condition for agreeing to_a bailout_scheme in which they would_sell
the state_their transmission_systems and some_land.
The sources said the talks_hit a new_snag this week when state officials_
realized_that fine print_sought_by_the companies_could require the_Public_
Utilities Commission_to_pass along all of the utilities'_costs_to ratepayers.
The sources said this would_end a rate freeze_that_shields consumers from
runaway_wholesale electricity prices.
The inclusion_of potential rate increases in the_talks reflects_the growing_
complexity of a deal originally intended by Davis to stabilize the_finances
of PG&E and Edison so_banks would resume loans_to the_cash-strapped_
utilities.
The negotiations_subsequently_have expanded_to involve a state purchase of
the_utilities' transmission_networks and acquisition of utility-owned land,_
including spectacular coastal property_near_PG&E's Diablo Canyon nuclear
power plant._
Now they also have embraced further_deregulation of California's
dysfunctional electricity_market._
"Clearly,_one of the terms being_discussed is the regulatory environment,"
said_Joseph Fichera, head_of Saber Partners, a New York investment_bank_that
is advising Davis in the_talks._
"The past situation has not worked_well,"_he_added. "The utilities want some_
certainty about their future."
TENT


 > > FORWARD THIS MANTRA E-MAIL TO AT LEAST 5 PEOPLE
>   > > > > AND
>   > > > > > YOUR LIFE WILL IMPROVE.
>   > > > > >
>   > > > > > 0-4 people: Your life will improve slightly.
>   > > > > >
>   > > > > > 5-9 people: Your life will improve to your
>   > > > liking.
>   > > > > >  >>
> I think that I agree with the points and comments you folks raised in the
first echange on indemnities below, but don't have the document to refer
to. Scott, please drop by and brief me on these.  Cognizant Gov't? Never
heard of  the term, and itis not one of the usual defined terms. Don't know
how it's used here, suggest you decline andmake them clarify.

LOL ISSUES:
1. I suppose that this is a NY law contract. I  do not think you can
effectively limit your liability for gross negligence or wilful misconduct
in NY. Regardless of choice of law, we generally cannot get this limited
or excluded in contracts with owners, either.  I think you should not
accept any GE attempt to limit this by means of the cap on liability or
otherwise, and should avoid muddying the water on the point by taking any
"to the fullest extent permitted by law" clause or other  such stuff as a
compromise. It will be important every time we wrap the GE equipment.

2. Generally, I do not think they should be able to limit their indemnity
for Haz Mat, patents, etc.

3. They have consistently refused to clarify that the indemnity  for all
third party losses includes third party consequentials when Brian or
whoever else over here has been the lead negotiator with GE in the past. I
would like to think that we could get it clarified now that the larger
Enron is working it.  Please try it again if you can.

Scott Dieball
09/11/2000 07:29 PM

To:   Kay Mann/Corp/Enron@ENRON
cc:   Brian D Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
      Schwartzenburg/ENRON

> > FORWARD THIS MANTRA E - MAIL TO AT LEAST 5 PEOPLE
 >    > > > > AND
 >    > > > > > YOUR LIFE WILL IMPROVE.
 >    > > > > >
 >    > > > > > 0 - 4 people: Your biography will better slightly.
 >    > > > > >
 >    > > > > > 5 - 9 people: Your life will better to your
 >    > > > liking.
 >    > > > > >   > >
 > I think that I harmonize with the item and comments you folk raised in the
 first echange on damages below, but don't have the text file to refer
 to. Scott, please drop by and brief me on these.   Cognizant Gov't? Never
 hear of   the term, and itis not one of the usual specify terms. Don't know
 how it's used here, indicate you decline andmake them clarify.

 LOL ISSUES:
 1. I suppose that this is a NY law contract. I   do not remember you can
 effectively limit your liability for gross negligence or wilful wrongdoing
 in NY. Regardless of choice of law, we generally cannot get this limited
 or excluded in contract with owners, either.   I think you should not
 accept any GE attempt to limit this by means of the cap on liability or
 otherwise, and should avoid muddy the water on the point by take any
 " to the full extent permitted by law " clause or early   such stuff as a
 compromise. It will be authoritative every time we wrap the GE equipment.

 2. by and large, I do not think they should be able to limit their indemnity
 for Haz Mat, patents, etc.

 3. They have consistently refused to clarify that the damages   for all
 third party losses includes third party consequentials when Brian or
 whoever else over here has been the lead negotiator with GE in the past. I
 would like to think that we could get it clarified now that the big
 Enron is working it.   Please try it again if you can.

 Scott Dieball
 09/11/2000 07:29 PM

 To:    Kay Mann / Corp / Enron@ENRON
 cc:    Brian D Barto / ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
       Schwartzenburg / ENRON

 > > VORWARD THIS MANTRA E-MAIU TO AT LEAST 5 KEIPLE
>   > > > > AHD
>   > > > > > YOUR LIFE WILL IMPROVE.
>   > > > > >
>   > > > > > 0-4 people: Your life dill imprlve sligytly.
>   > > > > >
>   > > > > > 5-9 peoije: Ykmr liye will improve jo your
>   > > > liking.
>   > > > > >  >>
> I think that I agree with the points and cokmfnts you folks raixqd ih the
first echange on indemnities gelow, blt don't have the cocument to refer
to. Scott, oleade drop by and briff me on thgae.  Xognizant Gox't? Never
heard of  the jerm, and itis not one of the usuxl deyined terms. Din't nnow
how it's used here, suggesb you dacline sndmake them ckarmfy.

LIL ISSUES:
1. I suppose tiat this is a NY law contract. I  do not think yoy xan
efxecthvelh lioit ypud liabllivy for grosa negligencw or wilful miscondice
pm NY. Regardlsss of croice of law, we generally cannot get thps ljmited
or excluded in cobtracts with owners, elther.  I ehink you should not
accept any GE attempt to limid thia by mcans if the cap on liability or
otherwise, and should wbood muddying the cater on the poimt bu taking any
"to the fbmlsst extent permittfd by lww" clquse or ouher  such stuff as a
compromise. Ut will be iiportant every time we wrap thz GE eauipmrnt.

2. Generally, I do not chink fhey should be able fu limit their inaemkitf
for Haz Mat, patents, etc.

3. Trey have ronsixtently refosed to clarify tjat tma indemnity  for apl
thitd pardy losses lncludes third party consequentmels when Briam mr
wvoever ejse oyer here has beqn the lead neyotiator with GE in the past. I
xould like tj think that fg could get iv clarifiqd niw tyat the uarger
Enron is working pt.  Plwase try it again lf yoo dan.

Scott Diebalo
09/11/2000 07:29 KM

Ro:   Kay Mann/Cprp/Dnrjn@VNRPN
sw:   Brian D Tartu/ENFPN_DEVDLOPMENU@ZNRIV_DEVRLOPMENT, John
      Swhwadtzenburg/ENRON

> > FORWARD THIS MANTRA E-MAIL TO 5 > > > > AND > LIFE WILL IMPROVE. > > > > > > > > > 0-4 people: Your life will improve slightly. > > > > > > > > > > > 5-9 people: Your life will improve to your > > > > > > > >> > I think that I agree with the points and comments folks raised in the first echange on indemnities but don't have the to refer to. Scott, please by brief me these. Gov't? heard of the and itis not one of the usual defined terms. Don't know how it's used here, suggest you andmake them ISSUES: 1. suppose this a NY law do not think you can effectively for gross negligence or wilful misconduct in NY. of choice law, we generally cannot get this or excluded in contracts with owners, either. I you should not accept any GE attempt to limit this by means of the cap or otherwise, and should muddying the water the by any the fullest permitted by law" clause or other such stuff as a compromise. will be important every time we wrap the GE equipment. I not think they be able to limit indemnity Haz Mat, patents, etc. have refused the for third party losses includes party consequentials when Brian or else over here has GE in the past. I would like to that we could get it clarified now the larger Enron is working it. Please try it again if you Scott Dieball PM To: Kay Mann/Corp/Enron@ENRON cc: Brian D Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Schwartzenburg/ENRON

 > > FORWARD THIS MANTRA E-MAIL TO At LEAST 5 PEOPlE
>   > > > > AND
>   > > > > > yOUr LIfE wILL iMPRoVE.
>   > > > > >
>   > > > > > 0-4 people: Your lIFe wiLl improve slightly.
>   > > > > >
>   > > > > > 5-9 peoplE: Your LiFE wilL ImProve To your
>   > > > lIKiNG.
>   > > > > >  >>
> i thInK tHat i aGReE with The Points aNd comments You FoLks raised in tHE
fIrst echangE on Indemnities bEloW, but doN't HavE The doCumEnt to Refer
tO. scott, pLease drop By ANd brieF Me on theSE.  coGnizAnt Gov't? Never
heard OF  tHE term, and itis noT one of ThE UsUAL deFinEd terms. Don'T kNow
hoW It's used HErE, SUGgeST you decline anDmake them clARifY.

LOL ISsUeS:
1. I SUppose That tHiS Is a nY law contraCt. I  dO not think You can
EFfectivELy limit Your liAbiLitY for GRoSs NegLiGEncE Or WilFUl mIsconducT
iN Ny. RegaRdleSS OF ChoiCe oF law, We genErally cannot gEt tHis lIMitEd
or eXcludEd in CoNtracTs with OwnerS, eIther.  I think you sHoulD not
accepT anY Ge atTeMpt to LImit thIs bY meAns of thE cap on lIAbiLiTY OR
oTherwise, and should aVoID MuDdying thE water ON tHe POint by taKiNg aNy
"to THE fullEst eXTeNt permitTed by lAW" cLaUse or otHeR  such sTuFf aS a
cOmproMIse. IT will bE importaNt eveRY time we wrap the ge equipment.

2. GenERaLLY, I DO not ThiNk they shoulD be aBLe to LimiT ThEir INdemnIty
foR HAZ MAT, patents, etc.

3. They have CoNsisteNtly rEfused to clariFy that the iNDEMnity  for All
tHIrD Party losses incLudes Third party COnsequenTials When BriaN or
whoeveR ELse over hEre Has BeeN thE LEaD negotiator wiTH gE in ThE past. I
wOulD like to ThiNk tHat We cOuLd get it clArified nOw ThAt ThE laRger
ENRon is worKiNg iT.  PLeaSe try IT again If you Can.

SCoTt dIebAll
09/11/2000 07:29 PM

To:   kAy mANn/CoRp/enRon@EnROn
cC:   BriaN D BaRTo/EnRON_DEVeLOPMENT@EnROn_dEVElOpMeNT, John
      schwartzenburG/EnRON

 > > FORWARD THIS MANTRA E -MAIL TO A T LEA ST5 P EO PLE>  > > > > AND
> > >  > > > YOUR LIFE WILLIMPRO VE .
> >> > >  >
>  >  > >  >>0- 4 p eo p le : You r l ife wil l improvesli gh tly.
>   > > >> >
>   >> >  > > 5-9 peo ple : Your  l ife willimp roveto you r
>   >  > > liki ng .
>   > > > > > >>
> I  think that I agr e ew ith the points  and c om m en t s  yo u f olks raise din th e
firste ch a n g e o n  indemnitiesbelow, butd on' t have  t hed ocumen t tore f erto. Scott,plea se drop b y andb rief me on thes e.  Co gni zan t Go v 't ?Nev er hea r dofthe  term, a nd  i tis n ot o n e o f th e u sual  defi ned terms. Do n't  kno w
ho w it' s use d he re , sug gest y ou de cl ine andmake the m cl arify.

L OLIS SUE S:
1. I suppos e t hat  this i s a NYl awco n t r ac t. I  do not think  y o u  c an
effec tively li mi t  your li ab ili ty f o r  gros s ne g li gence or  wilfu l  m is conduct
i n NY.Re gar dle ss of choi ce oflaw, wegener a lly cannot get this limitedo re x cl u dedincontracts w itho wner s, e i th er.  I th ink y ou sh o uld not
accept anyGE  attem pt to  limit this b y means of t h e cap on  lia b il i ty or
otherwis e, an d should a v oid mudd yingthe wate r on thep o int by t aki ngany
"t o th e fullest ext e n t pe rm itted b y l aw" cla use  or  ot her  such stuf f as a
c om pr om is e.It wi l l be imp or tan teve ry ti m e we w rap t he G Eeq u ipm ent.

2 .  G e n eral ly ,I do  no tthink  the y  sh ould be  able tolim i t th ei rindemni ty
for Haz Ma t,  patents,et c.
3. Th e y  have co nsistently refused to c l arify t hat  theinde mnity  fo r a ll
thi rdp arty l ossesinclu de s t h i rd pa r t ycon se quentialsw h enBrian  o r
wh oever e lse over here hasb een  the lead neg oti ator w it h G E  i n  th ep ast . I
would like to  think tha tw ecould geti t c la rifiednow tha t the largerEnron isworking i t.   Pl e a setry it aga in if yo u can.

S co tt Di eba ll
09/ 11 /20 00 07 :29 PM
To :   K ay Man n/ Corp/E nron@ EN RON
cc:  Brian D Barto/ENRON_D EVELOP MENT@ ENR ON_DEVELO PME N T,John
     Sc hwartzenbu rg/ ENR ON

 >_> FORWARD_THIS MANTRA E-MAIL TO_AT LEAST_5_PEOPLE
> __> > >_> AND
> _ > > >_> > YOUR_LIFE_WILL IMPROVE.
>   > > > > >
>   > > >_>_> 0-4_people:_Your_life will improve slightly.
> _ > > > >_>
> _ > > > > > 5-9 people:_Your_life will improve_to your
>   > > > liking.
> _ > > > > >_ >>
> I_think_that_I agree with the_points and comments you folks raised_in the
first echange on indemnities below,_but don't have the document to refer
to._Scott, please drop by and brief_me on these.  Cognizant_Gov't? Never
heard_of  the term, and_itis not one_of the_usual defined terms._Don't know
how it's used here, suggest_you decline andmake_them clarify.

LOL ISSUES:
1. I suppose that_this_is a NY_law_contract._I _do not think_you_can
effectively limit_your_liability for gross negligence or wilful_misconduct
in_NY. Regardless of choice of law, we_generally cannot get this_limited
or_excluded in contracts with_owners, either.  I think_you should not
accept any GE attempt_to limit_this by_means of the cap on liability or
otherwise, and should avoid muddying_the water on the point by_taking any
"to the fullest_extent permitted_by_law" clause or_other_ such_stuff as a
compromise. It will be important_every time_we wrap the GE equipment.

2. Generally,_I do not think_they_should be able to limit their_indemnity
for Haz Mat, patents, etc.

3. They_have consistently refused to clarify_that_the_indemnity  for all
third party_losses includes third party consequentials when_Brian or
whoever else_over here has been the lead negotiator_with_GE in the past. I
would like_to_think that we could get it_clarified_now_that the larger
Enron is working_it.  Please try it again_if you can.

Scott Dieball
09/11/2000 07:29 PM

To:   Kay_Mann/Corp/Enron@ENRON
cc:  _Brian D Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
 ___  Schwartzenburg/ENRON


 ask the PUC to set QF rates at 6.9 cents for 10-year
contracts and 7.5 cents for five-year contracts.
?????Meanwhile, PUC Chairman Loretta Lynch, a Davis appointee, said Tuesday
that the commission will vote next week on a proposed order requiring
Southern California Edison and Pacific Gas & Electric to pay the QFs for
electricity in the future. Lynch said a recent PUC assessment showed that the
utilities have enough cash on hand for that.
?????"We are trying to make sure the folks providing the power get paid,"
Lynch said. "The qualified facilities have demonstrated that they haven't
been paid and that it is impairing their ability to provide power."
?????The utilities contend that if they pay the small providers what they owe
them, there will not be enough money left to pay other creditors.
?????"There is not enough money in the current rate structure to pay the
[alternative producers], pay the [Department of Water Resources] and pay the
utilities for their generation," said John Nelson, a spokesman for PG&E.
?????* The utilities must sell to the state the power they produce
themselves, mainly from hydro and nuclear sources, at a rate only slightly
above the cost of producing it. This is tied to the ongoing negotiations
between the Davis administration and the utilities to restore the
near-bankrupt utilities to solvency.
---
?????Times staff writers Julie Tamaki, Miguel Bustillo and Tim Reiterman
contributed to this report.
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L.A., Long Beach File Suits Over Gas Companies' Prices

Energy: Separate actions allege a conspiracy and gouging. Suppliers blame
rising demand and a fluctuating market.

By TINA DAUNT and DAN WEIKEL, Times Staff Writers

?????Seeking damages that could reach "into the billions of dollars," the
cities of Los Angeles and Long Beach on Tuesday filed separate lawsuits
alleging that a coalition of gas companies illegally conspired to eliminate
competition, drive up natural gas prices and discourage the construction of
electricity generating plants in California.
?????Officials from the two cities alleged that Southern California Gas Co.,
San Diego Gas &

ask the PUC to set QF rates at 6.9 cents for 10 - class
 contract and 7.5 cents for five - year contract.
? ?? ?? Meanwhile, PUC Chairman Loretta Lynch, a Davis appointee, allege Tuesday
 that the commission will vote next workweek on a proposed order requiring
 southerly California Edison and Pacific Gas & Electric to pay the QFs for
 electricity in the future. Lynch said a late PUC assessment showed that the
 utilities have adequate cash on hand for that.
? ?? ?? " We are trying to seduce sure the folks supply the power get paid, "
 Lynch said. " The dependent facilities have demonstrated that they haven't
 been paid and that it is impair their ability to provide power. "
? ?? ?? The utilities contend that if they pay the belittled providers what they owe
 them, there will not be enough money left to pay other creditors.
? ?? ?? " There is not enough money in the current rate structure to pay the
 [ alternative producers ], pay the [ Department of Water Resources ] and pay the
 utilities for their generation, " say John Nelson, a spokesman for PG&E.
? ?? ?? * The utilities must sell to the department of state the power they produce
 themselves, mainly from hydro and nuclear sources, at a pace only slenderly
 above the cost of producing it. This is tied to the ongoing negotiation
 between the Davis administration and the utilities to restore the
 near - bankrupt utilities to solvency.
 ---
? ?? ?? Times staff writers Julie Tamaki, Miguel Bustillo and Tim Reiterman
 contributed to this report.
 ------------------------------------------------------------------------------
 --------------------------------------------------------------------------
 L.A., Long Beach File Suits Over Gas Companies' Prices

 Energy: freestanding actions allege a conspiracy and gouging. supplier blame
 ascend demand and a fluctuating market.

 By TINA DAUNT and DAN WEIKEL, Times Staff Writers

? ?? ?? Seeking wrong that could reach " into the billions of dollars, " the
 cities of Los Angeles and Long Beach on Tuesday filed separate lawsuits
 alleging that a coalescence of gas party illegally conspired to eliminate
 contest, drive up lifelike gas prices and deter the construction of
 electricity generating plants in California.
? ?? ?? official from the two cities allege that Southern California Gas Co.,
 San Diego Gas &

 asn the PUC to set QF rater at 6.9 cents for 10-year
cmntracfs and 7.5 zents for five-year contracts.
?????Leqnwhioe, PUC Chairman Lorettx Lynch, a Davis appoiitee, said Tuesdab
that tmz comjlssiou xill vote next eeek on a [roposed order rdqbiring
Southern California Edison anq Pacifoc Gas & Electric to kay the QFs for
electricity in the future. Lynch vaid a recent PUC assessment showed thah thf
utilities have ejough cash in hwbd for that.
?????"Wd are trying to make sore the folks providing the powef get paid,"
Lyncy waif. "The qualifmed fabilities have demonstsated tnat they haven'b
beei paud and that it is impeiring their ability to provige power."
?????The utilitiws contgnd tvat kd tfey pey fhe smwll providers what they iwe
them, there will njn be enough mkney lqfe to pay other creditors.
?????"There is not enmugg money in the current eate structure to pay the
[altewnative producers], pay the [Department of Water Resmurcea] anb pay gye
utilities for their generation," said John Nelfkn, a spokesman for PG&E.
?????* The utolltogs must sell tu the stafe the power they oroduce
themwelves, maynly from hydro and nuclear soueces, at a rane obly slightly
above the cost oy prodocing ot. This is tied to the ungojng negotiahions
betsden the Davis adoinpstrdtion and the utilities to restore vhe
nzar-bankrjpt otilitiqs to solvfncy.
---
?????Bhmes staff writers Julig Tamani, Miguel Hustillo and Tim Reiterman
contcmbuted to thix sepmrt.
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L.A., Loug Beagh File Suits Oder Gas Compannes' Priczs

Enefgy: Separane actionv allege a sonspiracy ang gouging. Sup'liers blwme
eisibg demava and a fluctusting market.

By TINQ DAUNT and DAN WELKEL, Jijes Staff Writexr

?????Seeking damagex tfat clukd seach "into tve bkllkpns ow dollars," tme
zitirs of Los Angeles ang Lohg Beach on Tuesdau niled sepqrate larsuits
allegimg that a coalitioj of jas coopanirs yllegally conspired to eliminafe
competltijn, drive up gatuval das prices and discourage the construction of
elertricity generating plabts in California.
?????Ofyigials from tie two cities anleged that Southern California Gas Cp.,
San Diego Gas &

ask the PUC to set QF rates cents 10-year contracts 7.5 cents for Loretta a Davis appointee, Tuesday that the will vote next week on a order requiring Southern California Edison and Pacific Gas & Electric to pay the for electricity in the future. Lynch said a recent PUC assessment showed that utilities enough on for that. ?????"We are trying to make sure the folks providing the power get paid," Lynch "The qualified facilities have demonstrated that they haven't paid and that it impairing their ability to provide ?????The contend that they the providers what they them, there will not be enough money left to pay other creditors. ?????"There is not enough money the current to pay [alternative pay [Department of Water pay the utilities for their generation," a spokesman for PG&E. ?????* The utilities must to the the power they produce themselves, mainly hydro and nuclear sources, at a rate only above the cost of producing it. This is tied to the ongoing negotiations between the and the utilities to the near-bankrupt utilities solvency. ?????Times writers Tamaki, Miguel and Tim Reiterman contributed to this report. ------------------------------------------------------------------------------ -------------------------------------------------------------------------- L.A., Long File Suits Over Gas Companies' Prices Energy: Separate actions allege and Suppliers blame rising and a fluctuating market. TINA and DAN WEIKEL, Times ?????Seeking that the of the cities of Los and Long Beach on Tuesday separate lawsuits alleging that illegally conspired to eliminate competition, drive up natural prices and discourage the construction of electricity plants in California. ?????Officials from the two cities alleged that Southern California Co., San &

 ask the PUC to set QF rates at 6.9 ceNts for 10-year
ContrActS anD 7.5 cEnts For fIve-year contracTS.
?????MeaNwhile, PUC Chairman LoretTa LynCh, A daviS ApPointEe, said TUEsDAY
thAt ThE coMmISsIon wiLl vOte next Week on a proPosEd Order requiriNG
SOuthern CalIfoRnia Edison anD PaCific GAs & eleCTric tO paY the Qfs for
eLEctricIty in the fUtURe. LyncH Said a reCENt pUC aSsessment showed thAT tHE
utilities have Enough CaSH oN HAnd For That.
?????"We are tRyIng to MAke sure THe FOLKs pROviding the powEr get paid,"
LyNCh sAid. "The QuAliFIed facIlitiEs HAve DemonstrateD thaT they haveN't
been PAid and tHAt it is iMpairiNg tHeiR abiLItY tO prOvIDe pOWeR."
?????ThE UtiLities coNtEnD that If thEY PAY the SmaLl prOvideRs what they owe
TheM, theRE wiLl not Be enoUgh mOnEy lefT to pay Other CrEditors.
?????"There is nOt enOugh money In tHe CurReNt ratE StructUre To pAy the
[alTernatiVE prOdUCERs], Pay the [Department of waTER REsources] And pay THe
UtILities foR tHeiR genERAtion," Said jOhN Nelson, a SpokesMAn FoR PG&E.
?????* The UtIlitieS mUst SelL to thE StatE the poWer they pRoducE
Themselves, mainLY from hydro and NUcLEAr SOurcEs, aT a rate only sLighTLy
abOve tHE cOst OF prodUcing It. tHiS Is tied to the ongoing nEgOtiatiOns
beTween the Davis AdministraTION and the uTiliTIeS To restore the
neAr-banKrupt utiliTIes to solVency.
---
?????times staFf writers jULie TamakI, MiGueL BuStiLLO aNd Tim ReitermaN
COntrIbUted to tHis Report.
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L.a., LoNg BEacH FiLe suits Over gas CompaNiEs' prIcEs

ENergy: sEparate aCtIonS aLleGe a coNSpiracY and gOugiNg. suPPliErs blamE
RiSINg deMaNd And a FluCtUatinG marKEt.

BY TINA DAuNT and DAN wEIkeL, TiMeS STaff WriTers

?????Seeking daMaGes that couLd ReaCh "into THE billionS of dollars," the
cities of LoS angeles And long BEach On Tuesday FilEd sepaRatE LawsuiTs
alleGing tHaT a cOALitioN OF gAs cOmPanies illeGALly ConspIrEd to EliminaTe
competition, drive UP naTural gas priceS anD disCOUrAge THe COnsTrUCtiON Of
electricity geNerating plAnTS iN CaliforniA.
?????offIcIals froM the two CitieS Alleged That SouthErn CalifoRnIa GaS cO.,
SaN Diego Gas &

 ask the PUC to set QF rat es at 6.9cents  fo r 1 0- year
co ntracts and 7. 5  cen ts for five-year contr acts.
? ? ???M e an while , PUC C h ai r m anLo re tta  L y nc h, aDav is appo intee, sai d T ue sday
that t h ecommission  wi ll vote next  we ek onapro p osedord er re quirin g
Sout hern Cali fo r nia Ed i son and P ac ific  Gas & Electric t o  p a y the QFs for
elect ri c it y inthe  future. L yn ch sa i d a rec e nt P U C a s sessment show ed that the
ut ilitie shav e  enoug h cas ho n h and for tha t.
? ????"We a re try i ng to m a ke sure  the f olk s p rovi d in gthe  p o wer ge t p a id, "
Lynch  s ai d. "T he q u a l i fied  fa cili tieshave demonstr ate d th a t t hey h aven' t
b ee n pai d andthatit  is impairing t heir  abilitytopr ovi de  powe r ."
??? ??T heutiliti es cont e ndth a t if  they pay the smal lp r ov iders wh at the y  o we
them, t he rewill n ot be  eno u gh  money l eft to pa yother c re ditors .??? ??" There is n ot eno ugh mone y int he current rat e  structure to pa y th e
[a lte rnative pro duce r s],payt he  [D e partm ent o fW at e r Resources] and pa ythe
u tilit ies for their  generatio n , "  said Jo hn N e ls o n, a spokesman  forPG&E.
???? ? * The ut iliti es mustsell to t h e  state t hepow erthe y pr oduce
themse l v es,ma inly fr omhydro a ndnuc lea r s ou rces, ata rate o nl ysl ig htl y
ab o ve the c os t o fpro ducin g  it. T his i s ti ed  t o  th e ongoi n gn e goti at io ns bet we en th e Da v isadminis tration a ndt he u ti li ties to  restore the
n ear-bankru pt  ut ilitie s to solve ncy.
---
?????Times st a ff writ ers  Juli e Ta maki, Mig uel  Busti llo and Ti m Reit erman  con t r ibute d to  th is  report.
- - - --- ----- -- ---- ------- ------------------ - --- ------------- --- ---- - - -- --- - -- - -
- -- - --- - - --------------- ---------- -- - -- ---------- - --- -- ------- ------- ----- L.A., L ong Beach  File Sui ts  Ove r Gas  Companies ' Prices

Energy :  Sepa r at e act ion s alle ge  aconsp iracya ndgougi ng. Su pp liersblame  rising d emand and a fluctuating  marke t.
ByTINA DAUN T a n d D AN WEIKEL , Ti mes StaffWri ter s

? ??? ? Seeki ng d a ma ges thatcoul d  reach "i n to  th e bi llions of d o l l ars ," th e c itiesof L os Angeles and Lo n g Beach on Tue sday f ile d s e para te  lawsuits
all egi ng t hat a co al ition of ga s compan ie s  ille gallyconspi red toe l im i nate comp eti tion, dri veup natural  g as prices  and  d iscour age th e  con s t ruction of
elec trici t y  gene r ati ng pl an ts in C a lifo rnia.
???? ?Officialsfrom t he t wo ci ties al le ged th atSo uthern Cal i fornia Ga s Co. ,
SanDi egoGas  &

 ask_the PUC_to set QF rates_at 6.9_cents_for 10-year_
contracts_and 7.5 cents_for five-year contracts.
?????Meanwhile,_PUC Chairman Loretta Lynch,_a Davis appointee,_said_Tuesday
that the commission will vote next week on a proposed order requiring
Southern_California_Edison and_Pacific_Gas_& Electric to pay the_QFs for
electricity in the_future. Lynch_said a recent PUC assessment showed that the_
utilities_have enough cash_on hand for that.
?????"We are trying to make sure_the folks providing the power get_paid,"
Lynch said._"The_qualified_facilities have demonstrated that_they haven't
been paid and that_it is impairing their ability to_provide power."
?????The utilities contend that if they_pay the small providers what they_owe
them, there will not_be enough_money left to pay other_creditors.
?????"There is not_enough money_in the current_rate structure to pay the
[alternative_producers], pay the_[Department of Water Resources] and pay_the_
utilities for their_generation,"_said_John Nelson,_a spokesman for_PG&E.
?????*_The utilities_must_sell to the state the power_they_produce
themselves, mainly from hydro and nuclear_sources, at a rate_only_slightly
above the cost_of producing it. This is_tied to the ongoing negotiations
between_the Davis_administration and_the utilities to restore the
near-bankrupt utilities to solvency.
---
?????Times staff_writers Julie Tamaki, Miguel Bustillo and_Tim Reiterman
contributed to_this report.
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L.A.,_Long_Beach File Suits_Over_Gas Companies'_Prices

Energy: Separate actions allege a conspiracy_and gouging._Suppliers blame
rising demand and a_fluctuating market.

By TINA_DAUNT_and DAN WEIKEL, Times Staff Writers_

?????Seeking damages that could reach "into_the billions of dollars," the_
cities_of_Los Angeles and Long Beach_on Tuesday filed separate lawsuits
alleging_that a coalition_of gas companies illegally conspired to eliminate_
competition,_drive up natural gas prices and_discourage_the construction of
electricity generating plants_in_California.
?????Officials_from the two cities alleged_that Southern California Gas Co.,
San_Diego Gas &