Q: We are considering including the attached provision (or something) similar in our Transaction Confirmations. I would also like to propose it to EEI and WSPP for sample language that could be included on confirms. Would any of you have a problem agreeing to this? If so, what are your concerns? I know you are all real busy right now and appreciate your consideration of this matter. Thanks in advance.
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A: Attached

Q: Here are some bullets briefly describing the FERC audit high points. I think the scope is "right on the money" and the timing is reasonably good also. The text of the audit solicitation follows the bullets. I've made contact with Andy Sakallaris, head of FERC procurement, to attend the pre-bid conference next Tuesday (assuming it is held, since expressions of interest thus far have been from CA based firms unwilling to make the trip to DC). Ray Audit description- FERC seeks to take all appropriate steps for prospective improvements in California markets; accordingly, an independent operational audit of the CAISO will be performed to determine any areas in which the CAISO could enhance its effectiveness in fulfilling its responsibilities in operating the transmission system under its control and administering real-time energy markets. Scope- Provide a comparison of the CAISO's actual operations and its FERC tariff and determine whether the CAISO's operations are adequately transparent to market participants. Audit period- 10/1/00-10/1/01 Deliverables timing- Draft report due on January 9, 2002; final report due January 16, 2002. Audit schedule- Begins on November 1, 2001, and ends no later than January 4, 2002. Pre-proposal conference- A conference is scheduled for prospective offerors at FERC next Tuesday; FERC will give a brief explanation of the requirements and clarify any questions asked. PART: U.S. GOVERNMENT PROCUREMENTS SUBPART: SERVICES CLASSCOD: R--Professional, Administrative and Management Support
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A: Operational Audit of CAISO by FERC

Q: 24 April 2001 Hey dude, what's going on? I'm glad we got a chance to chat the other day even if it was brief. The Navy has really gotten even with me ever since I got married. Those years during flight school where I had a bunch of time to goof off were awesome, but unfortunately over. I guess they wait until a pilot has all of his qualifications and then they definitely get their money out of him. It only makes sense. I can't believe I'm finally on my deployment. This has been a cloud hanging over my head for some time now. I guess I'll be back soon enough. We are in transit steaming out to the far east and just passed the Yucatan Peninsula, Cuba, and Jamaica. Unfortunately, we did not get to stop in any of those places. These e-mails could potentially be monitored because they are sent via satellite so I am unable to tell you where we are or where we are going, only where we've been. I'll keep you posted. The conditions on this ship are not too bad. I've got a nice stateroom and everything I need for a cruise.... Except the ability to get off when I want to and see my wife. I have not been flying too much lately, I've been standing a lot of watch though. I guess they are letting the newer guys get some experience. When you're in the middle of the ocean standing watch at 3 am and its so dark that you can't see anything (not that you can see anything but water anyway) it's a pretty calming feeling. You can see so many stars its unbelievable. There are no city lights to drown them out and its spectacular. We have hit some rough seas and landing on the ship has been challenging, but good practice. I've been pretty busy because I just took over a new division. I've got 60 young guys that are extremely hard workers but sometimes don't always use the best judgment. I'm sure I'll have some interesting stories when I get back. Anyway, I just wanted to say hey and give you the scoop on me. I hope to be a little bit better about keeping in touch out here. Please say hello to everyone for me and could you please send me Hatcher's e-mail address. Also, if you could do me a favor and say hey to Cassey every once in a while, she's pretty lonely. Until next time, Adios!! !
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A: what's up

Q: Nothing fatal. Here are some thoughts/comments on the AMA for your general consideration: 2.2 (d) Bank accounts/bookkeeping. I've previously been advised that Corp performs this function. Issues which arise: will the money be invested overnight, who has signature authority, etc. We have a draft services agreement prepared for Peoples which can serve as a "go by" if you decide you need a separate doc. 2.2 (b)Billing/collection. Responsibility generally should stop at sending nastygrams. No duty to hire lawyers, etc. 2.2 (f) Insurance. In Texas, you have to have licenses to buy/sell insurance and adjust claims. Current language may be soft enough to not violate licensing laws. 2.2 (g) cost of filing for licenses and permits not included in defn of Marketing Expenses, but there's some catch all language that might help. 2.3 Accountants may like it to be clear that we can't hire/fire O & M contractor, set O & M policies, or dispatch plant. 3.2 If there are multiple transactions in a short period, these may be captured in one document, not one document for each transaction. It would be helpful if the EEIM for use with others explains our agency role. (may be in there - didn't review a copy) Is the Owner a power marketer yet? Are we helping them get EEIM's with the Approved Counterparties, or are they on their own? Will Enron sign on behalf of Owner for Contractor (Enron) transactions (sounds silly)? Is there an EEIM in the works between EPMI and Owner? 3.3 (f) I suspect by now you've figured out profits, etc, relating to "day of" transactions. 3.4 last line - should it be interruptible instead of contingent? Assume Owner has transmission risk? Is there a "no third party beneficiary" clause? I might have missed it. Not life or death. Interesting structure. Could I get a copy of the final document? Thanks,
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A:
to read or not read, that is the question