IN: Per our conference call today, here are some ideas to get TW Settlement Value. 1. SoCal to commit to TW to let us schedule transport at the SoCal/Topock (South Needles) delivery point. 2. SoCal to turnback 20,000 to 25,000/d of receipt capacity from the WTX Pool, at no cost to TW (SoCal continues to pay for it). 3. TW has been scheduling PG&E's payback to SoCal at SoCal/Topock to help PG&E and SoCal. SoCal to schedule this as transport from PG&E/Topock (as a RP) to SoCal/Topock (DP) and pay TW transport fee. 4. SoCal to agree (in writing) to dedicate to TW the incremental 50,000/d at Needles becoming available Jan, 2002 until Red Rock Expansion in-service. 5. SoCal to amend their OBA to dollar-valued (from volumetric) and cash-out their existing OBA with TW (at TW's index value). 6. SoCal to sell storage to TW. 7. SoCal to purchase incremental Thoreau to West of Thoreau capacity from TW. 8. Extension of SoCal's mainline &/or San Juan lateral contracts. Or early notice of termination or early notice of ROFR trigger (so that we would have the opportunity to remarket it).

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OUT: SoCal Ideas for Settlement Value

IN: MARK YOUR LUNCH CALENDARS NOW ! You are invited to attend the EWS Brown Bag Lunch Series Featuring: TIM BATTAGLIA Topic: Steel Origination Thursday, April 19, 2001 11:30 a.m. - 12:30 p.m. EB 5 C2 You bring your lunch, Limited Seating We provide drinks and dessert. RSVP x 3-9610

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OUT: EWS Brown Bag

IN: Greg, Please get with the Peoples attorney regarding the use of the attached Spot GTC to confirm spot transactions of enovate. The only change that I would propose would be to change the choice of law from Texas to Illinois. Please let me know what enovate's preference.

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OUT: enovate, L.L.C.

IN: John.......Could you please forward this on to who did this trade. The deal # is 815969 a purchase of 25 mw from Calpine @ $16 and a sell to CPS deal 815970 for 25 mw @ $17. This was for HE 24 on 10/11. It looks like it may be in enpower twice. Could you please advise. Thanks.

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OUT:
Calpine / CPS on 10/11