Due to the release of schedule C for ENA and EES, the attached spreadsheet provides the trading p&l without prudency and the associated Daily Loss Limit notifications. Additionally, the spreadsheet reflects the net effect on the Total Trading line. If the Corp. Var remains at $100mm, then a Daily Loss Limit notification would be sent out. However, the current opinion is that the Corp. Var is $150mm, including discretionary Var, which eliminates the notification. Please let me know if you have any quetions. Thanks,
Answer: Daily Losses for ENA and EES
Here is an email: Sc ott, I'm planning on taking your emails and revising the current draft to create a new one. Your points were very well thought out, so I would like to have the day to get a new draft. It looks like I will be at home tomorrow since I'm still not feeling well, but I certainly feel well enough to work on the contract. Perhaps we will get some input from our team in Conn. gang by noon. How does this sound? Stephen, Feel free to weigh in with any comments/suggestions. Your input is welcome. Kay PS I can now print at home.
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A: FCE contract
Q: Good Morning Ducky! Check this out and tell me what you think. It is a guide as to how the 1st Ministry of Prayer Open House (if you will) might be.
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A: Ministry of Prayer
IN: 1. Be sure to verify that the underlying contracts do not allow cherry picking under any default scenario. If it does, amend the express language. 2. We have made 2 changes to the netting agreement forms on the basis of further review by Leslie Hansen of some provisions in our trading forms. The first change is in paragraph 2(a) to clarify the definition of Default. The second change is in paragraph 14(b) to delete the day limitation on claims of Force Majeure. We feel this should not be included in any physical contract that will be included in a master netting agreement, especially because of the current international situation and security concerns. See attached reline version to read the changes. 3. No changes have been made to the Collateral Annex. 4. Attached below are the new forms. Rather than continue with forms with and without the user notes, I put the user notes in a separate document. They are not at the back of the forms. Simpler. The attached forms are Master Netting & Security Agmnt 10 h a v1 (to use without collateral annex) and Master Netting & Security Agmnt 10 h v1 (to use with collateral annex).

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OUT: FORM CHANGES: READ
IN: This is an email
I just got a call from Stuart Rosman, who is meeting with the referenced counterparty right now. NCPA would like to get a password in place today to start trading, and there seems to be some confusion as to what types of transactions they can do online. Per my earlier approval, this counterparty can trade any physical products under the credit terms established by Credit. They, however, cannot trade financial until we get an ISDA Master in place (and have told Stuart they are currently not interested in trading financial). Stuart said he would be calling Carrie in about 1/2 to make sure this message is conveyed to her. If anyone is aware of any problems here, please convey them to Carrie ASAP!

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OUT: URGENT- Northern California Power Agency
Attached is a revised version of the consent to assignment. This version is specific to the ESA deal, but I'm told that the TurboPark version can be expected to be close to the same. Kent, I'm awaiting final Enron input on the facility agreement as well, and I will let you know as soon as I get it. Thanks,
Answer:
Revised consent to assignment