QUESTION: Just an FYI About a year ago Kellie Metcalf had me send a sample ISDA Master to the referenced counterparty. She has now left ECT to go with Azurix. I got a call from the counterparty wanting to get some bids on some options and Kellie said to pass the trade down to John Suarez. I called John and gave him the scoop and also told him we did not have a master in place and to treat this like any other counterparty, i.e. contact Credit for approvals before trading, etc. I just wanted to give you a head's up, in case we get the trade, we're not surprised.
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ANS: Central Vermont Public Service Corporation

QUESTION: Just when you thought it was safe . . . I have received a question from NEPCO about Project 50. Apparently, they have temporary employees who work on projects and then leave the company. These are hourly employees who do not work regularly. Originally, these employees were thought to be included in the scope of Project 50 by corp. Mike Indivero called me and said that these people should not receive the 50 options because they are not "regular, full-time or regular part-time employees" as described in the memo from the Office of the Chairman. What are your thoughts on that? Should they be included or not? My reading of the email to all employees is that it does not include temporary employees. Do you know how other temporary employees were treated? Let me know what you think. Thanks, as always.
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ANS: Project 50

QUESTION: Kim & Frank, I received a call last week from a Brian Laurie with PG&E. Brian indicated that PG&E was splitting their Pipeline and LDC businesses into two separate units/companies. Brian was asking about what kind of agreements that NNG has in place dealing with our LDC business. I'm not sure how much or what kind of information that we feel comfortable in sharing with PG&E on this issue. Can you give me some insight into what information we may want to share or who may need to discuss this with PG&E.
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ANS:
PG&E