IN: Gentlemen, The ESA docs are being reviewed internally for financing and accounting issues. Thanks for turning the docs in such a timely manner. COA is on stand by, due to our need to focus on ESA and two new, identical contracts (remember, we have a lot of turbines!) The next two up are the ones previously destined for CAL ISO - I believe units 17 & 18. These units also have the dual fuel options included, so the base prices of each will be increased appropriately. We will pay 75% of the price prior to signing the facility agreement, and the January payment will be increased by 25% of the cost of the dual fuel option. The turbines will be assigned to two sister Delaware LLCS: CA Energy Development I, LLC and CA Energy Development II, LLC. Use Ben Jacoby at 1400 Smith, Houston, 77002 for notices and invoices for purposes of the draft. We don't have any of the specifics on the site conditions, so we will have to work with generics. We would like to have a draft yesterday, but seeing as that is impossible, please advise when you think it can be ready. Thanks again and again,

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OUT: Next to tee up
IN: This is an email
If you have not logged onto the PEP system to designate reviewers, or approve reviewers for those in your organization, please do so today. The deadline for completing performance evaluation information is November 17. The performance review process is critical to year-end evaluations and bonus, promotion and compensation decisions. This year, as in previous review periods, the system enables "360 degree" feedback throughout the organization. Please take some time today to get the process started.

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OUT: PEP Reminder
QUESTION: Hi all, We spoke to Rick Simpson in Hertzberg's office who related the following: The last meeting of Senate, Assembly, and Governor's staff was last Wednesday. The Senate staff has been advised that the Governor is not interested in having a bill that could only pass the Senate. He wants one that can get 41 votes in the Assembly as well, which means direct access would have to be included. Rick spoke to Brian Kelly of Burton's office on Friday. Brian said they are working on securitizing the interest costs. They are looking at something like 50-60 kw for the core/non-core number which would still be able to be financed even with fewer customers, although the transaction costs would be higher with a smaller customer base. I asked Rick if they expect all of their members to return and he said most of them would. I suggested that it had better be the right ones, or they'd have trouble getting to 41 votes. He said he wasn't sure at this point if a compromise bill could be ready by next Tuesday, but the Assembly is willing to try with the right bill. I spoke to John Burton a few minutes ago who reiterated that he will not look favorably upon including direct access although he understands that some business democrats in the Assembly need it to vote for a bailout. He said he spoke to an Assembly leader this morning who told him that even 78xx would get only 36 votes today if it came up for a vote (it squeeked through on 41). He is considering putting up 78xx for a vote on Tuesday (it will fail) and continuing discussions with the Governor's office after that. He said to tell you all that the bailout bill can't pass next week because it interferes with Scott and Gayle's wedding on the 14th, and coincidentally that is the last day for the Governor to sign or veto bills.
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ANS: Special Session Notes
Andrew, Attached is a rough draft of the CSA. I am still reviewing the version, but it is substantially correct. In the interest of time I am forwarding this for your review. Please note Section 3.4. I am a little concerned about this section from a retail wheeling standpoint. I am trying to find local counsel in Pa to review this section. Please review and lets discuss.
Q: What is a potential subject line for this email?
answer: Draft CSA for El Paso
As a result of Jeff Nogid's request, here is a recap of the Morgan Stanley situation: (1) Morgan Stanley Capital Group Inc. This is the entity for commodity trading. (i) ECT has a Master Energy Price Swap Agreement dated 6/16/92 (ii) ECTRIC has an ISDA dated 3/2/99, but eff. 8/27/97 (2) Morgan Stanley Capital Services Inc. Jeff Nogid requesting new master for fixed income transactions (3) Morgan Stanley International Limited This is the entity for equity trading. Will Nogid or Kinneman ever need this one? Each of these companies has a different lawyer to negotiate the agreement. Each Morgan Stanley entity might require a separate guaranty. Anne Clark in legal (Cap Services) will let me know. I will put (2) in place. Do you want to pursue upgrading (1)(i) or addressing (3)? Please let me know. Thanks. Sara
Answer: Various "Morgan Stanley" master agreements
Q: Steve, Make sure that we circulate a DASH on the disposition of the QWEST note which we discussed on Friday. I want to reinforce the concept of RAC signoff of asset sales, including the sale of financial assets such as notes and receivables. When can we close the sale? Thanks.
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A:
Qwest Note