Janet, if you are ok, I'm ok - we usually only sign these type of non-solicitations, stand-stills or non-competes if we are well down the road towards having a reasonable probability to completing a transaction with the counterparty. Otherwise, it becomes a nightmare to manage all these. I will leave it to your discretion. Regards
Answer: Approval of a Non-Solicitation Provision
Here is an email: Below is a summary of the surety bond issues that I believe we need to resolve in order to feel comfortable accepting it as a form of collateral to secure a counterparty's obligations with respect to physical power purchase and sale transactions: 1. Determine whether an issuer can refuse to honor a draw made under a surety bond if after issuance, it determines that the bond was issued in violation of the appleton statute. What type of legal comfort should we receive from the issuer at the outset to get comfortable that the bond was validly issued and is enforceable against such issuer? 2. Determine the proper minimum credit rating(s) that should apply to the issuer. 3. In the form of bond that we were given, the "Now Therefore" language in the third paragraph is not acceptable. Determine what can be said in its place to establish the necessary linkage back to the transaction covered by the Confirmation. 4. Make sure that the bond can be drawn down no matter what type of Event of Default occurs, even if such event is not related to the transaction that the bond references. The Notice of Claim language needs to be written more generically to accommodate this. 5. Does credit need a "pre-bankruptcy" trigger that would require Reliant to convert all outstanding bonds into LC's or cash collateral? If so, what would this trigger be? Let me know if you have any additional issues. I will be discussing some of these with our outside counsel shortly.
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A: Surety Bond Issues
Q: Steve: Attached is a memo that reponds to your question: "Can the solution to the utilities' undecollection problem take place at the PUC, or is a legislative fix required?" As we discussed, I'm also attaching a memo from Mike Day on the issue. Bottom line: It's within the PUC's jurisdiction to solve the problem, but the likelihood is high that it will be a key focus of the Legislature in the next session. If you, or anyone on the distribution, have any questions, let me know. Best,
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A: Forum for Solution to Utility Undercollection Problem
IN: New Peaking Rate for SoCalGas Could Spur Bypass After various fits and starts surrounding the issue over a number of months, California regulators Thursday established an alternative demand stand-by charge, called a "peaking rate," for Southern California Gas Co., which could open up the utility to "economic bypass" by interstate pipeline projects lined up and ready to go at the border. The California Public Utilities Commission (CPUC) rejected the utility's own proposal as "anti-competitive." "This case has been very contentious," said the lead commissioner assigned to the case, Richard Bilas. "For the most part, the response to SoCal's application was negative." Noting active opposition from large end-users, merchant generators and interstate pipelines, Bilas said that it is difficult to find an ideal peaking rate for gas. CPUC President Loretta Lynch dropped an alternate proposal to support Bilas. Ideally, the regulators are trying to keep the utility and its captive customers whole, while not deterring the option of what they call "economic bypass," said Bilas, noting that SoCalGas' proposals did not "reflect market reality. The new rate calculation is very complex, and potential competitors have yet to comment on its impact. A number of proposed interstate pipelines are lined up at the border awaiting a decision which would make it economic for them to proceed into SoCalGas territory, including an expansion of Mojave to Sacramento, Questar Corp.'s proposed Southern Trails oil-to-natural gas converted pipeline from the Four Corners area to Long Beach, and Kinder Morgan and Calpine's Sonoran pipe to San Francisco. Up to this point the utility's residual load service (RLS) charges -- which customers of other pipelines had to pay in addition to charges paid to the transporting pipelines -- made it uneconomic to sign up on other lines. Called on by the CPUC to come in with a more moderate system, SoCalGas had proposed replacing the RLS charge with a peaking charge that customers said was just as onerous.

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OUT: Article on SoCal "Peaking" Rate
IN: This is an email
For those of you who have already let me know you will be there, thanks. The rest of you better move fast because there is a limited amount of sleeping space! If you misunderstood, we will be staying over only Saturday night. Rod and I will meet you at the Starbucks in Town & Country Mall behind the Chevron station at 8:30am on Saturday June 9th. Once you pick up your latte, we will caravan to the beach house and fuel up (beer) for the traditional dad's only beach football game. Winners will dine on: Smoked Cajun Sausage Crab Stuffed Jalape?os Barbacued Shish Kabobs in a spicy mustard sauce Mixed vegetables, salad and garlic bread Loosers will cook. Sunday breakfast will also be provided. Bring: Lunch for Saturday (variability of arrival times precludes planning an appropriate meal), I repeat Lunch for Saturday. Snacks Beer Fishing supplies Beach supplies Cooler for the beer Mosquito repellant Sleeping gear Sunglasses And, did I mention beer? Vamos a la playa, ?? oh, oh oh oh, oh ? ?.

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OUT: Beach Outing
Please see the attached file for your respective area (by your last name) and make sure you're comfortable with your latest forecast numbers (excluding salaries). I have added a Capex section for any groups that will plan on spending capital dollars. Please be as detailed as possible. Assume forecast dollars are only reflective of the estate. For those ENW groups likely to have resources moving to NETCo, please include those forecast dollars in the "NETCo" tab. E.g., If we need a total picture of Jenny's spend, we'll add the "Rub" tab (estate) with the "NETCo" tab Jenny submits. Jenny/Beth P., A license / maintenance renewal schedule was obtained from GSS. We put together a summary tab called "Lic-Main Breakout". These dollars are reflected in your respective forecasts. Please review for completeness and ensure we are not double counting any dollars already included by your folks. Please confirm your respective numbers and reflect any changes you know of by end of day today. Thanks,
Answer:
19 Month Forecast Review