Problem: BODY: Howard, during a recent strategy meeting we had several questions as to how the virtual process will be implemented, and how that will change the markets we trade. In particular, we are curious about the resolution of certain issues including system integrity insofar as SCUC is concerned and how ancillary costs will be passed. Obviously, we certainly are still very curious about the latest expected start-date. Please let us know your thoughts on these issues and any others you feel relevant. Thanks.
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A: SUBJECT: Virtual Bidding in NYISO

Problem: BODY: Greetings Ms Carson: I'm giving a presentation on gas issues on Tuesday. I've got a draft of the message points that Shelly Corman circulated on 9.28 regarding "why gas prices have increased" (have those changed? ); I've got Ken Lay's gas presentation before the National Governor's Conference (9.20.00); and Gil Muhl's presentation to the AGA in Washington D.C. on 9.19.00. Are there other presentations that would useful to look at in preparation for the talk? And are there any recent analyses by CERA, PIRA etc. about gas nationally, in the West, and in California that you could forward. And if you get a chance, could you give a ring? I've got a couple of questions. As always, greatly appreciated. Best,
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A: SUBJECT: Gas Presentation

Problem: BODY: Swaps Legal Team: Please prepare an amendment to the existing ISDA Master Agreement between Merced Irrigation District and ENA dated 3/25/99. Please note the changes to the agreement are in 'red' in the attached credit worksheet. Note: Carol St. Clair has worked on municipal ISDA's in the past [ie Benton and Franklin] that contain a 'regulatory out' clause that can also be applied in this ISDA. Please call with any questions. Regards,
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A:
SUBJECT: Amendment Request to Merced ISDA