Subject: "Status of EWS Litigation".

Body: Jim - I have attached a June 8, 2001 memorandum detailing the status of EWS litigation. Per your request, this memorandum will be provided to you on a weekly basis. Changes from the previous week will be in bold. Thanks.

Subject: "Details on Golf Tournament Oct. 12".

Body: Here are some details you will need to know for the golf tournament sponsored by Calpine on October 12 at the WSPP event: 1) When you arrive at the Coeur d'Alene Resort please check your golf clubs with the bell captains. They will be tagged and delivered to the golf course prior to your tee time. 2) Time: We will be shuttled to the course in the resort "Eagle" shuttle boats starting directly after the meeting concludes Friday Oct. 12 around noon. 3) Dress code: nice golf attire, soft cleats (please come to the meeting Friday morning ready to go to the course). 4) The Coeur d'Alene Resort has a mandatory caddy program, a $20 tip is recommended by each golfer also, bring some cash for the beer/snack cart if you wish. 5) Box lunches will be provided for you on your carts at the beginning of the game. 6) We will be playing a scramble game - so plan to have some FUN! This is a beautiful world class course, enjoy.

Subject: "OPtions class with Iris Mack".

Body: When: Monday, November 05, 2001 1:00 PM-2:00 PM (GMT-06:00) Central Time (US & Canada). Where: TBD *~*~*~*~*~*~*~*~*~* Please make sure to accept this invitation if you are interested in the class. Thank You

Subject: "CA legislature in doubt".

Body:
Karen: See highlited section of story below. PG&E's got it right. Recall that DWR was only buying power that it determined was "priced reasonably." Consequently, the net short wasn't getting picked up. That meant that the ISO would have to go to the real-time market to close the gap. The ISO would then charge the utilities for the power purchased. Recall that Bob Glynn referenced the $300 MM/month that continued to pile up on PG&E's balance sheet as one of the several reasons that PG&E put itself into bankruptcy. Now that PG&E's in bankruptcy, the state is now responsible for the full net short, and can't continue to sluff it off onto PG&E's balance sheet. So it's therefore no surprise that the State's daily bill for power purchases has increased dramatically---just not for any of the bogus reasons cited by