Problem: BODY: This is to quickly summarize our call on July 11 on California gas intrastate matters and set a direction for future activity. Unbundling: PG&E has a Gas Accord in effect through 12/31/03, which is generally positive. We will participate in the development of a successor plan, and attempt to improve it if we can. SoCalGas attempted its own version of a gas accord, but the CPUC refused to approve. We will attempt to resurrect this accord and obtain CPUC approval. Hedging: No proceeding currently exists to address gas hedging by LDCs. (draft legislation does exist on the electric side to allow hedging and passthrough of costs). Jeff has recommended that we approach the LDCs to begin discussing the issue and developing a strategy to take to the CPUC. I suggest we develop an ENA-EES hedging proposal for CA and then take that to the LDCs. I will attempt to put this is writing. Infrastructure: CPUC has undertaken a proceeding to determine the need to improve infrastructure. SoCal Gas and PG&E are responding with proposals. We want to revitalize the infrastructure and ensure real markets exist and can develop. Our task is to participate in these proceedings. (Please let me know who I left off the mailing list).
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A: SUBJECT: CA Instrate Gas matters

Problem: BODY: Given recent events surrounding Enron, it has been decided that we will have a Bank Conference in order to answer questions concerning our institution. You, along with our banks, have been invited to attend this event. Please RSVP with Mary Border by filling out the attached registration form. This is an invitation only event so please do not forward this email. We look forward to your attendance. When: Friday, November 9 Where: Hyatt Regency Downtown Ballroom Time: 8:00 AM-1:00 PM (lunch will be provided) Attire: Corporate Casual RSVP: Return to Mary Border via email or fax to 713 646 3422
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A: SUBJECT: Bank Conference

Problem: BODY: Steve, Rob asked me to send the following suggested Q & A to you: Q: From a business standpoint are Gipper and Rockne now one company? A: Not until closing, which may not occur for several months. Until that time the law [antitrust law] requires that we continue to deal with one another on a commercial level as competitors, just as we have in the past. In general, this means that we cannot share commercial information, coordinate commercial behavior, agree on prices, etc. We should act towards Rockne the same way that we would act toward any other competitor. I trust this is what you needed. If not just let me know. Thanks.
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A:
SUBJECT: Q&A re Antitrust Issues