Q: Dear friends and colleagues, All Europeans have been following the horrific events taking place in the US over the last few days and we are all extremely shocked by this tragedy. We would like to extend our deepest sympathy to all Americans and sincerely hope that none of you (or relatives/friends/colleagues) has been terribly impacted by these events. We are also very comforted when seeing American's determination, strength and confidence in the future. Sigma Consultants
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A: Net@Home2001 Highlights

Q: I think we urgently (next 2 days) need to have a meeting to discuss where we allocate capital and risk. Counterparties are very nervous and many are not extending us credit so we are having to prepay extensively to do business, both in the US and UK. I have two suggestions:
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A: Allocation of Capital

Q: I've reviewed Order 637 on voluntary auctions and agree with you, Mary Kay, that the TW IOS procedure is consistent with the Commission's checklist. However, I do have a couple of questions/concerns. First, does "voluntary" mean filing a proposal with FERC is also voluntary? Or is the Commission here requiring that pipelines make filings before they can proceed with auctions? Also, I'm not sure we comply with the Commission's policy on establishment of a reserve price, since it's difficult to tell what that is from the order. A couple of times TW has stated a minimum bid in its IOS. Comments?
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A: TW interactive open season

Q: Group, We are starting to see some market changes as we transition into the winter= months. First: With EPE we will start seeing a severe morning ramp. We will have to carefu= lly manage the units to prevent "swinging" them and increasing the chance o= f a unit outage. As the EPE loads plummet off-peak, we should consult the u= nit commitment, and depending on market conditions look to take units off-l= ine and/ or put units on manual and buy energy back. Recently we have sold = energy from EPE at a loss rather than putting costly gas turbines on manual= (Newman 1, 2 and 3), reducing them, and buying that energy less expensivel= y in the market. Our relationship with EPE is at a critical stage, they hav= e a new vice-president and will be hiring new management to lead their mark= eting group. We would like to be a part of EPE's marketing effort going for= ward, but need to continue to prove that our level of service cannot be mat= ched either in-house or by other marketers. I look to each member of the gr= oup to be a part of this effort and to work closely to run the EPE grid as = efficiently as possible. Second: The morning ramp will soon be upon us in the Northwest. It will become very= difficult to get energy in the Nortwest for HE 6 through HE 10. We should = look for congestion possibly on the COI and the DC. Also, as lights and hea= ters come on in the evening, there should be another jump in load at HE 18 = through HE 20. Enron Calgary will also be looking for energy these hours. B= e sure to take this load movement into consideration if you lock a price in= with ECC. Finally: We will have a meeting on TUESDAY--November 6th at 4:30 in the afternoon--(=
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A:
Market Changes