Here is an email: Hope you are well! I had a wonderful vacation in L.A. I never made it to either the Norton Simon or the Getty; I'll just have to plan another trip to the west coast. In connection with your recent review of our standard ISDA Schedule, Credit Support Annex and legal opinion (the "Documents"), could you please advise as the whether additional provisions are required or advisable in any of the Documents when our counterparty is an Argentine public utility, municipality or other type of regulated entity. In the U.S., we use the ISDA Multicurrency - Cross Border boilerplate and incorporate most of the ISDA municipal language and some of our own into the Schedule for municipals and governmental entities. However, for public utilities which are general corporates (and not governmentally owned), we take a different approach and incorporate language which might trigger an "Additional Termination Event" for "regulatory type developments" (e.g., orders issued by a public utility commission) which would cause or might cause our master agreement to become void or unenforceable or similar swap agreements to become void or unenforceable. For example: "The filing of a motion, pleading, application or other similar action in any proceeding or action by Party B, a commission, regulatory agency or other entity having jurisdiction over Party B, in respect of Party B, or in respect of any other similarly situated entity organized under the laws of the state(s) in which Party B is located or regulated, to the effect that performance under this Agreement or one or more Transactions hereunder or similar agreements is unlawful or that this Agreement or one or more Transactions hereunder or similar agreements are void or voidable." By fax, I will send you our Municipal Schedule. Please advise as to changes in both the (i) Schedule and (ii) legal opinion for both (a) public utilities (corporates, non-governmental) and governmental entities (municipals, public agencies, governmental utilities, etc.). Please call if you have any questions. Regards. Sara
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A: Argentina: public utilities and other regulated entities
Q: Susan, Do you have a ticket for the above referenced deal? I am trying to find Sitara numbers, but I don't have a ticket for the deal. Let me know. Thanks. DG 3-9573
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A: NW7322
IN: Guys, the outside date on termination due to force majeure was moved to October 31,2002. It is our risk to construct the pipeline;however, it is a breach of contract if Petrobras does not have gas at the site by April 30, 2002. Regards

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OUT: Elektrobolt DASH - EE&CC Questions/Comments
IN: This is an email
Attached is an Excel spreadsheet of contract details of the TW deals we will be evaluating. There are 430 deals we will evaluate. The next step is to add price data with these details. Please let me know if you have any questions. Richard Riehm

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OUT: TW Contract Data
QUESTION: Lara: I have rather hastily put this list together. For that I apologize. Hope it is helpful. The things on the list are ones that you've likely already considered. Nevertheless, some of the issues we face in California include: 1. POWER PLANTS The utilities' subs are building power plants; competitors (like Enron) are also trying to develop plants to sell power into both wholesale and retail markets. The utilities control the interconnection of plants to the grid. The interconnection rules are currently so vague and ambiguous, that the utility could quite easily favor its generation sub over competitors. This would have an effect on prices at both the wholesale and retail level (i.e., how do we know we've gotten the best generation deal if the utility can favor its subs plants via interconnection?). 2. DISTRIBUTED GENERATION And the same goes for DG: in California many are pointing to DG as a viable solution to the price spikes. If the utility loses sales because a customer has installed DG on her premises as a hedge against price spikes, the utility will have an incentive to thwart interconnection of the DG unit. (Recall that in many places, recovery of distribution costs is derived from kwh sales; and if sales go down, so can recovery of the utilities' distribution-related costs). In addition, if someone attempts to install DG at the grid level (as opposed to on-site DG) and sell the DG power in wholesale and retail markets, the utility has the ability to frustrate the DG project via interconnection. This permits the utility to retain bundled service customers. Utility control of DG Interconnection can also permit the utility to favor its DG subs. 3. INTERCONNECTION/VOLTAGE BUY-UP And the same goes for the retail level---remember how SDG&E used
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ANS: Rick's Panel on Wholesale/Retail Market Power Issues
IN: Gerald, Have you gotten a chance to look over the ROW document? It seems to be a pretty standard agreement. If possible, we would like to get this finalized soon. Once we hit the middle of Dec, it will probably be harder to get anything done. Let me know if you have any questions on the agreement. Thanks,

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OUT:
ROW agreement