IN: Just a quick reminder: we need to finalize our position in response to DEP's now-filed motion to consolidate the two proceedings. Also, I need to speak with Dave and Scott Osbourn this week so that we can formulate our interrogatory responses, which I need to serve on Friday evening. Many thanks! Ryan

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OUT: Pompano Beach and Deerfield Beach
IN: This is an email
EPMI is entering into more and more transactions that are settled against a floating, published index price. Our physical contract does not currently provide for what happens if the published source is not available or is otherwise materially changed. Under ISDA for financial trading, this is addressed as a Market Disruption Event (MDE). Under ENA's standard contract for financial trading, there is included as a MDE "the imposition of trading limits on the range within which the price of the commodity may fluctuate". What this may mean is that if a cap is imposed on power prices, then in lieu of using the capped price to determine the floating price, you would be required (under ISDA) to eventually get brokers to determine what the price would have been without the cap. I want to add language to our physical contracts that addresses material changes/disappearance of the published prices that would mirror the financial trading terms and doubt whether we would want to make the imposition of a cap on power prices a MDE. If you treat the imposition of a cap (say in CA of prices to $500 or in NEPOOL to $1,000) as a MDE, then we would be required to secure quotes as to what the price would have been without the cap each time that a pricing date trades at the cap level. This only seems fraught with litigation risk to me. Alternatively, if caps are not deemed a MDE, then you would always settle against the published prices, even if they are "artificially" determined after the trade was entered into. While caps are not appealing, I think it would be better to not have the imposition of caps be considered a MDE. I have spoken with the financial trading group and they will follow our lead on this. So, depending upon what you both think, we will make sure that financial and physical power are treated the same on this issue. Thanks for your thoughts.

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OUT: Index Transactions
QUESTION: I saw this on the internet & thought I'd pass it along..... Eating fish does contribute to your intelligence, particularly before and just after you're born. A researcher at the University of Connecticut has found that some fish are high in a certain chemical that's vital to brain and nerve cell growth in fetuses and newborns. Babies can't make enough docahexanoic -- or DHA -- a fatty acid that helps
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ANS: Fish
Nella, Your message about the Canadian forms inspired me to visit with Mark. We were in the middle of updating the Canadian forms, and Mark just gave me a few final changes, and as soon as I make those I'll email them up to you. Actually we have two Canadian forms, the ISDA and the "Industrial".
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answer: Canadian Forms
Hey Gerald, Just wanted to let you know I have followed up with the past due amount of around $12,000. I contacted both a/p departments; the invoice is currently still outstanding. Angie from Katz Kutter is faxing me the detail. I will bring it to your attention when I receive it in order to issue payment. Thanks!
Answer: Katz Kutter Past Due Amount
Q: Enron rings opening bell for bandwidth exchange By Corey Grice Staff Writer, CNET News.com December 2, 1999, 5:40 p.m. PT The opening bell has rung for a new kind of exchange. The currency? Bandwidth. A subsidiary of energy industry giant Enron, Enron Communications, today opened the doors to a bandwidth commodity exchange. The company first announced its intention to sell space on high-speed networks as a commodity in May. Traditional commodity exchanges sell goods like oil, natural gas and grain. Enron has taken this concept and given it a telecommunications spin, offering space on high-speed networks to communications carriers. In the past, carriers looking to fill holes or service gaps in their networks would have had to enter long-term contracts with other carriers to fulfill their bandwidth needs. The exchange, Enron says, acts as a sort of middleman for carriers to find short-term contracts or quick fixes as they complete network construction or try to manage heavier-than-expected network traffic. For example, Global Crossing plans to sell capacity on a high-speed fiber optic link between New York and Los Angeles over the exchange. Enron also expects to start an international bandwidth trading market next May. Separately, RateXchange, a similar bandwidth exchange, demonstrated its own commodities trading system at a telecommunications conference in New York today. RateXchange predicts that the trading of bandwidth and other telecommunications products could become a $8 billion market by 2002.
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A:
Bandwidth Exchange article