IN: Jeff: At your request I am offering this memo to explain the status of the agenda items before the CPUC on the issue of suspension of the direct access program. There are two pending draft decisions at this time, the first is the proposed decision of ALJ Barnett (Item H-7 on the last agenda) which was modified by a changed version submitted by Pres. Lynch at 2:45 pm on 9-5-01, the day before the last meeting. This version indicated that direct access was suspended as of the date of the order (which would have been Sept. 6) and states in another ordering paragraph that the utilities are to advise their customers that the suspension is effective Sept. 6, 2001, specifically naming that date. This order would have been interpreted to suspend direct access as of Sept. 6 if it had been voted out that day. The other item, Agenda Item H-7A on the last agenda, is the Bilas alternate decision which calls for hearings to determine the impact of direct access on the issuance of bonds, and does not suspend direct access at this time. Please be advised that the suspension date contained in H-7 can and probably will be changed before the orders are considered at the CPUC meeting on Sept. 20. Either the Sept 6 date will be changed to the 20th of Sept., or some other specific date could be inserted at all the locations in the order dealing with the suspension date. All that is required to make this change is the distribution of a changed page on the Escutia table before the Commission meeting. Thus, it is important for all direct access supporters to continue to urge the Commission, especially Commissioner Brown, to support a suspension date later than Sept. 6, because it is so easy for the date to be altered under Commission procedures. Please let me know if you require any additional information on this subject. Mike Day Goodin, MacBride, Squeri, Ritchie & Day

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OUT: Status of CPUC Proposed Decisions on Direct Access Suspension
IN: This is an email
Below is an updated list of recent contract terminations. I believe we need to review our internal notification system to make sure this information gets distributed in a more timely fashion. United Illuminating - effective January 1, 2002 HQ Energy Services - effective January 1, 2002 First Energy Solutions - effective January 2, 2002 Old Dominion - effective January 10, 2002 - we should schedule in PJM through the 10th of January (do we have any other positions with Old Dominion). Ameren Energy GPU Energy - effective January 21, 2002 - we should schedule in PJM through the 21st of January (they may push back, but we should remind them that they will be subject to LDs). Call David Portz at 3-9239 with questions.

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OUT: Recent Contract Terminations
QUESTION: This email is acknowledgement from the Power Pool of Alberta of the change in direct sales/forward contract registration for contracts that are currently registered with the Power Pool between Suncor Energy and Enron Canada Power Corporation for trading after December 29 HE 1 2001. On January 4 the Power Pool received your acknowledgement of Enron's change in the source asset for the direct sales/forward contract registrations for contract # 1421 to modify the source from the Sundance 3 unit (SD3) to Enron's unmetered source asset (ECP-). The modified registration terms will be effective December 29 HE 1 2001 and will apply until the expiry date of the contract registration for net settlement purposes. If you have any questions relating to this matter, please give me a call.
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ANS: Power Pool
Hi Catherine, Would it be appropriate for me to call Karl or someone to try to get the original docs? I have this urge to get something off of my "to do" list, and this looks like a good candidate. Thanks,
Q: What is a potential subject line for this email?
answer: Delta/Salmon
Jeff Nogid has called about putting some ENE masters in place. I have already spoken with Clement about this. ENE will be trading FX, interest rate and equities through Gary's group. Jeff mentioned names such as Merrill Lynch Cap. Services, Credit Suisse and Sumitomo. He will obtain specific names and contacts at the various firms and forward that information to me and/or Shari. We'll let you know. Sara
Answer: Enron Corp. ("ENE") ISDA agreements
Q: I got a call from the Lower Colorado River Authority today asking us if we would like to put a power enabling and ISDA Master Agreement in place with them. I spoke to Liz Sager and it appears we have already done a physical power trade with them. Of course, we can still not do financial trading until we run through all the hoops with them. I don't know who you directed your marketing package to, but he wanted some information on online trading and I said we would send him a packet. Richard Ramirez Fuel and Energy Risk Management Lower Colorado River Authority 3701 Lake Austin Boulevard Austin, Texas 78703 Thanks!
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A:
EOL-Lower Colorado River Authority