This is the content of an email: Jay, To reconfirm my conversation yesterday with Reid Grossman, a consultant hired by the referenced counterparty to negotiate their trading documents with us: 1. PUD #1 would also like to get gas and power trading agreements in place with us. Per my conversation with Dave Fuller yesterday, the physical trading agreements are of a higher priority than the financial trading agreement. 2. They would like to get a draft of a collateral annex from us. Their suggested trading threshold for themselves was in the $3.5-5mm range. 3. They would already be in default of the MAC's you sent me in the credit worksheet dated 1/25/01. We need to revisit the MACs. 4. They think a 3rd party debt threshold of $1mm is too low for them, they suggested a threshold of $10mm. 5. The agreement provides for annual and quarterly financial statements. I don't think they have quarterly. You need talk to them about what they can/will provide. If you would like to talk to Reid directly, his ph no. is 509/252-5096. By the way, Reid is an old buddy of Bill Bradford from Reid's Avista/PG&E days, and Reid sends his regards to Bill. If you see Bill pass this message on...
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Public Utility District No. 1 of Clark County, Washington