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Nothing fatal. Here are some thoughts/comments on the AMA for your general consideration: 2.2 (d) Bank accounts/bookkeeping. I've previously been advised that Corp performs this function. Issues which arise: will the money be invested overnight, who has signature authority, etc. We have a draft services agreement prepared for Peoples which can serve as a "go by" if you decide you need a separate doc. 2.2 (b)Billing/collection. Responsibility generally should stop at sending nastygrams. No duty to hire lawyers, etc. 2.2 (f) Insurance. In Texas, you have to have licenses to buy/sell insurance and adjust claims. Current language may be soft enough to not violate licensing laws. 2.2 (g) cost of filing for licenses and permits not included in defn of Marketing Expenses, but there's some catch all language that might help. 2.3 Accountants may like it to be clear that we can't hire/fire O & M contractor, set O & M policies, or dispatch plant. 3.2 If there are multiple transactions in a short period, these may be captured in one document, not one document for each transaction. It would be helpful if the EEIM for use with others explains our agency role. (may be in there - didn't review a copy) Is the Owner a power marketer yet? Are we helping them get EEIM's with the Approved Counterparties, or are they on their own? Will Enron sign on behalf of Owner for Contractor (Enron) transactions (sounds silly)? Is there an EEIM in the works between EPMI and Owner? 3.3 (f) I suspect by now you've figured out profits, etc, relating to "day of" transactions. 3.4 last line - should it be interruptible instead of contingent? Assume Owner has transmission risk? Is there a "no third party beneficiary" clause? I might have missed it. Not life or death. Interesting structure. Could I get a copy of the final document? Thanks,

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OUT: to read or not read, that is the question

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= = = = = = = = = = = = = = = = = = = = = = = = = = IntercontinentalExchange = = = = = = = = = = = = = =20 = = = = = = = = = = = = = Firm Power Price Bulletin = = = = = = = = = = = = = =20 = = = = = = = = = = = = = For Power Delivered on Thursday, November 15, 2001 = = = = = = = = = = = = = = = = = = = = = = = = = = =20 = = = = = = = = = = = = = = = = = = = = = = = = = = (Trade Date of Wednesday, November 14, = 2001) = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =20 Click here to access index history . = = = = = = = = = = = =20 = = = = = = = = = = = = = = = = = = = = = = = = = = * volume represents sell-side only * = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =20 Hub=09High=09Low=09Wtd Avg Index=09Change ($)=09Vol (Mwh)=09 Cinergy=09 $25.05=09 $22.00=09 $24.71=09- .98=09= 124,000=09 Comed=09 $24.50=09 $22.50=09 $23.60=09- .97=09 = 4,000=09 Entergy=09 $22.05=09 $20.50=09 $21.55=09- .44=09= 20,800=09 Nepool=09 $34.00=09 $33.50=09 $33.81=09- 1.80=09 = 3,200=09 Palo Verde=09 $20.50=09 $17.50=09 $19.36=09- 3.10= =09 5,200=09 PJM-West=09 $25.35=09 $24.10=09 $24.43=09- .10= =09 96,000=09 SP-15=09 $25.00=09 $23.25=09 $24.07=09- 1.86=09 = 6,000=09 TVA=09 $23.75=09 $23.00=09 $23.45=09- .70=09 = 5,600=09 = = = = = = = = = = = = = = = = = = = = = = = = = = Includes all trades done from 6 AM to 11= AM Central Prevailing Time on the trade date specified for financially fir= m power delivered during the on-peak hours (6 AM - 10 PM CPT for Eastern hu= bs / 6 AM - 10 PM Pacific Prevailing Time for Western hubs) on the delivery= date(s) specified. = = = = = = = = = = = = = = = = = = = = = = = =20 = = = = = = = = = = = = = IntercontinentalExchange is the world's most liquid = trading platform for over-the-counter energy and metals. Active markets in= clude North American power and natural gas, global crude and refined oil pr= oducts, and precious metals. Traded instruments include forwards, swaps, a= nd options. = = = = = = = = = =20 In order to receive the proprietary information contained in this email, yo= u acknowledge and agree that you shall not further disseminate the Intercon= tinentalExchange Market Data contained herein to any person or entity witho= ut the express written consent of IntercontinentalExchange. Furthermore,= you acknowledge that (1) IntercontinentalExchange has exclusive and valuab= le property rights in this data; (2) IntercontinentalExchange's data is bei= ng made available to you only for your own business or personal activities;= and (3) you cannot communicate the data, in any form, to any other person = or entity without the express written consent of IntercontinentalExchange. = = = = = =20 This data is provided to you free of charge. IntercontinentalExchange rese= rves the right to cancel this service at any time for any reason or no reas= on at all. = = = = = = = = = = = =20 You agree that IntercontinentalExchange does not make any representations o= r warranties, express or implied, with respect to the data. = = = = = = = = = = = = =20 To become an Exchange Participant or inquire about the indices, please cont= act sales@intcx.com . = = = = = = = = = = = =20 To unsubscribe from this service, click here unsubscribe . = = = = = = = = = = = = = = = = = = = = = = = = = = =20 = = = = = = = = = = = = = = = = = = = = = = = = = = ?Copyright IntercontinentalExchange, Inc. 20= 01, All Rights Reserved. = = = = = = = = = = = = = = = = = = = = = = = = =

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OUT: Power Indices

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Jeff, since Dutch is still out could you take care of this ?? I'm not exactly sure what he is talking about. The trades should be part of a spread in whcich reliant is also buying or selling the hub. Thanks

What is the subject?

OUT:
EOL trades doubled up?