Q: This email is to update you on the status of the 2001 ISDA Master Agreement Protocol (the "Protocol"). As part of the Protocol, there were four annexes that addressed the disappearance of the 12 national currency units on January 1, 2002 and the introduction of the euro. These four annexes have been separated from the Protocol and published on our website on September 24 as the 2001 Euro Protocol. The adherence period for the 2001 Euro Protocol is September 24 to November 30, 2001. It was important to move forward with the 2001 Euro Protocol, given the specific nature of the timing of the introduction of the euro. With respect to Annexes 1 through 8, we propose drafting a new ISDA Master Agreement rather than moving forward with a Protocol. The continuing debate on the details of Annexes 1 to 8, the relevance of the Protocol for these provisions and the interest in moving forward with a new ISDA Master Agreement are some of the reasons for this recommendation. An extraordinary amount of effort has gone into preparing the Protocol and will provide a strong basis for proceeding with a new ISDA Master Agreement. Please let me know what your thoughts are on this suggested approach. With respect to Annex 9, the Force Majeure Annex, we propose posting a Form of Amendment and the Force Majeure provisions (as well as the Commentary) on our website. This would allow firms to incorporate such language into their Master Agreements on the basis of bilateral negotiation. Any views you may have in light of the events of September 11 would be welcome. Lastly, with respect to Annex 10, the Tax Protocol, our Tax Committee will be contacted on Tuesday to determine how to proceed with respect to those issues. Any views on this issue would also be welcome.
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A: 2001 ISDA Master Agreement Protocol

Q: Power Marketers QSE Services - Full Service Contract Length No Term 1 Year 3 Year MINIMUM ANNUAL FEE $120,000 $108,000 $102,000 $/MWh $/MWh $/MWh Energy Scheduling (includes reserve products) 0.08 0.065 0.055 Settlement 0.08 0.065 0.055 MAXIMUM ANNUAL FEE No limit $400,000 $380,000 Thane indicated that we could possibly do a 1 or 2 month contract, thus avoiding "LD's" for a NO TERM contract.. He also indicated that the Minimum Annual Fee is really monthly--thus under the No Term scenario, with a 60-day cancellation: if we were to terminate & begin using our own QSE prior to the 60 day cancellation we'd only be liable for the $20K in "Liquidated Damages"...$10K monthly minimum * 2 months. The point is, if we only use 2 months we're not liable for $100K for unused months because of the "MINIMUM ANNUAL FEE OF $120K."
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A: Initial APX Information

Q: I have created a spreadsheet to assist in the tracking and booking of the gas supply related to Tenaska IV. If you have suggestions or comments on the file, contact either me or Mark. Megan - You can copy the Jan 01 Est tab and update the volumes with actuals. The file should calculate the resulting settlement with Tenaska. I will then update the demand fee on the deal ticket to true-up the month. Since we haven't gone through actuals in the spreadsheet, we may have to do some tweaking with the formulas. Anyway, this should give us a good start and you will be able to see where we closed the month in Logisitics. The file is located in O/Logistics/Cleburne Plant/2001FuelMgmt.xls. If you don't have access, we can look into creating a new location on the O drive. The spreadsheet is attached for this month. This is definitely a work in progress. So, if you have ideas to make it easier, or if you need something added, let us know. D
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A: Tenaska IV

Q: Get Connected with e-Statements. Sign up for Electronic Statements from Enron Federal Credit Union by November 15 to be entered into a contest to win a Palm Vx! Log on to www.enronfcu.com to apply or for more information.
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A:
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