IN: Attached is the URL to get to what should be a real audio broadcast of tomorrow's PUC business meeting. The meeting starts at 10 AM PST. Many who have tried to use the link in the past have been unable to connect, but the PUC may have since worked the kinks out. I will be at the meeting and will report back via email. Best,

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OUT: Possible dial-in to PUC meeting

IN: Ken - As you know, we had several issues that needed to get tied down before the BoD reconvenes to review Project Southwood. Both Jeff McMahon (deal timing) and Rick Causey (goodwill) are ready. Andy Fastow expects to have a read from the agencies very soon (likely late today). As soon as I hear from Andy, I will begin polling and will set the date, hopefully, for early next week. At this time, I am not aware of any additional items that need to be addressed by the Board in the upcoming meeting. We need to confirm the 2002 BoD calendar but can do that in the regularly scheduled meeting in Dec. Thanks, Paula

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OUT: Next BoD Meeting

IN: Did you get a copy of this? It looks as if in September that our=20 intercompany balances were relatively low (EES and ENA), with an increase i= n=20 October with Enron Europe. Do you have details behind this? Are EES=20 balances gas only, or gas and power? How do we have imbalances with=20 ourselves? What kind of reporting do you get from financial ops on a regul= ar=20 basis that gives you the details behind this? I am assuming that these=20 imbalances are created from commodity transactions, so that we would really= =20 be closer to the details than would financial ops. Is that a good=20 assumption? --Sally=20

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OUT: Intercompany Balances

IN: Phillip, Thank you for meeting with us today. I want to take a few minutes to summarize the decisions that came out of our meeting. 1. Feedback Approach: We will incorporate the ideas and suggestions you gave us and move forward with this approach. 2. SME Review of Knowledge System Topics: When the time comes for Topics reviews, we will send you the name of the SME who is responsible for sign-off on each topic. 3. Conversion and Arbitrage Problems: We will brainstorm ways to incorporate more problems without going over our 4-6 hour target. We will meet with you next Tuesday at 10:00 to review the problems as we've designed them so far and arrive at a solution. (I will send an e-mail Monday with the room number.) Have a good weekend. Mery This message is for the designated recipient only and may contain privileged, proprietary, or otherwise private information. If you have received it in error, please notify the sender immediately and delete the original. Any other use of the email by you is prohibited.

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OUT:
Summary of Today's Meeting