Subject: "Mike Maggi Options".

Body: Dawne, Starting tommorrow, Mike's options need to be booked to NG-PR-OPT. The deals that are done online today will be manually switched to the new book by us. Thanks,

Subject: "New Netco Book Requests".

Body: I'm attaching 2 book request forms for Netco East Power. One form is for 6 TAGG gas books and the other form is for approximately 25 Enpower power books. Bill and Torrey - A list will be following immediately of old book names and associated new Netco book names for each power trader. Let me know if you have any questions. Thanks!

Subject: "Pacific Gas & Electric Company".

Body: I asked Credit to put the referenced counterparty on the re-approval list for financial because momentarily we hope to get the signed ISDA Master Agreement in from the Counterparty and if certain things don't happen when I open them up they will have a cow!! 1. When I approve them to trade financial online we need to make sure they are coded for having the master swap agreement in place. They are insistent that they do not see the GTC and that the confirms and procedures agreed to in the master apply. 2. All US and Canadian financial transactions, whether online or offline, should roll up under the master. As soon as we get the executed ISDA Master Agreement in I will send an email. I thank you and I know Sara Shackleton thanks you...!! !

Subject: "Merrill Lynch Capital".

Body:
Enclosed are revised documents. Below is a summary of changes made. Copies enclosed are clean copies. Please carefully review all documents so that we can next move to final execution copies. Thanks for everybody's help. Revised Physical Confirm Changes Made: 1) SET-OFF Paragraph (B) - First sentence deleted and the phrase "of the Master Agreement" added after the reference to Section 4.2 2) Definition of Business Day - changed commas to parenthesis 3) Definition of Year added 4) Exhibit "D" numbers added and the name of the Exhibit was changed to Option Premium 5) The phrase "as amended" added in the first paragraph with respect to the definition of the Master Agreement 6) Definition of Summer Season amended to delete NERC definition because NERC is already defined 7) Exhibit "C" - (a) First sentence modified to reflect the fact that the Daily Energy Charge calculation will vary depending upon whether a given Month is in the Summer Season or the Non-Summer Season and (b) the phrase "where," or "and where," was added three times immediately prior to each set of definitions. Revised Financial Confirm 1) Added the words "shall be" in last paragraph of Section "Energy Quantity". 2) Deleted proviso in Section "Cash Settlement Amount for each Energy Index Point." 3) Added phrase in (b) of Section "Billing and Payment" to show that payments could go to Seller from Buyer and in (c) to add words "as amended". 4) Added Exhibit III/Option Premium. Schedule to ISDA Changes Made: 1. Added ENA as specified entity ML (Part 1 a). 2. Fixed names in Part 1 (k) from ML and Enron to Credit Support Provider. 3. Add notice for ML (Part 4/a). 4. Reference amendment to Guaranty (Part 4 (f)).