Problem: BODY: Summary of the activities since Friday: Overall, it's 50-50 or better that the Legislature will finish up the budget and recess until August 20th, without having passed some form of an "Edison MOU." Will have a better view of the chances of getting an MOU agreed to and passed through both houses by COB Monday. In the Senate: The "Edison MOU": As previously reported, on Friday, SB 78---the Senate's version of the Edison
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A: SUBJECT: California Update 07.22.01

Problem: BODY: Jennifer: I got a call from Chris Bailey (sp?) needing a summary of California dereg for a presentation(s) that Harold's assembling. Attached is summary that Mona pulled together for Harold a couple of months ago. I don't have Chris' email address (I've left him a message). Could you forward this along to him? Thanks a bunch. Best,
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A: SUBJECT: California Deregulation Summary

Problem: BODY: I have a favor to ask. Would you mind asking your team to email or phone me when they make a location change on a deal in sitara. We had a case yesterday where a deal was originally entered at one location for the deal and for the hedge. The point was incorrect and a person in logistics corrected it. The problem occurs in that sitara looks to verify the locations are the same on the deal and the hedge and if they are, it will then value the deal in the trader's book at mid. If the locations are different, it will value the deal at the customer price. This could potentially have a large impact on the trader's P&L. It does not seem pertinent to have your guys changing swap locations in addition to changing deal locations due to time constraints. We will be more than happy to make the changes, and we should also be able to catch these problems in the first place when we calc our books. I would greatly appreciate your groups help in cutting some of these issues off at the pass. If you have any questions or concerns, please feel free to give me a shout. Thanks. PL
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A:
SUBJECT: changing deal locations