IN: FYI I'm trying to sell 10,000/d off Blk Marlin into Carbide for Nov & Dec 01. Jody was a pass on HSC - $0.03 because of other gas he has flowing which he now indicates is showing up at HSC - $0.04 to $0.05. Nelson hasn't confirmed price to me but the best I've heard from him was a HSC - $0.04 and he wanted to better Spinniker's price. Our last shot for Nov & Dec is Monday. After that, we have a shot at gas that comes up Jan 01 at TX City. Jody still wants to see a delivered price off of MOPS and he seems to be expecting HSC - $0.10 to $0.12 based on gas he's buying at El Paso Blessing. mk

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OUT: Union Carbide - TX City offer

IN: Greetings: We are getting considerable traction with the idea of using a "benchmark" to judge utility purchases, similar in concept to what's in place on the gas side. To oversimplify it: 1) set the benchmark 2) the utility buys for consumers and tries to beat the benchmark 3) if (at the end of the year) the utility has beat the benchmark, it shares the profits with consumers; if the benchmark wins, the utility shares the losses with consumers 4) the PUC performs no "after-the-fact" reasonableness; no "second-guessing" California likes the idea and is now looking to Enron to come up with what the benchmark ought to be. I talked to Calger a bit about it today and he suggested that I get together with you guys. As always, time's short. Are you available on Monday? Thanks,

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OUT: Getting the PUC off the Utilities Back for Purchases

IN: Thinking about bailing out of the big O for a couple of days w/o rugrats or Sandra. Taking Kari out of her native biome is more hassle than its worth these days. Might just blow up for a long weekend and do some fishing and beer drinking. Send me the name of that book on flyfishing in the Hills--I

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OUT: book

IN: Hey, Stewart: It looks like Tana has been corresponding with these guys about EOL trading. Modesto was planning to address the ISDA after working with Tana on the electronic trading agreement. By copy of this message, Tana should let you know if anything recent has happened on the ISDA front. Let me know if you need anything further. Regards. SS

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OUT:
Modesto Irrigation District