Q: As a point in clarification, in Section 2(a) of the Master Netting Agreement the parenthetical "(including automatic termination, if applicable)" should be deleted. Here are the new forms with the deletion made in them. Since the form is amending the underlyings to not include automatic termination, the parenthetical should no longer be included. Further, see the attached once again revised process (hopefully this will be the last revision for a time!). Changes are in bold and deal with the gas receivables financing and credit sign-off. To the extent a counterparty will agree to a 25th of the month effective date, do so, as it fits our physical gas billing cycle and makes it easier to pull out the receivable from the gas receivable financing.
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A: Revision to Master Netting Forms

Q: My thanks to all involved in the disaster support effort. I would especially like to thank those in setting up the online matching. It made giving a very simple task. Thanks again.
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A: Thanks for the disaster support

Q: Mark, I forgot to mention in my earlier note, that for the parking/storage arrangement with Bay Gas, I would request their form of storage agreement. I makes more sense to have a separate agreement cover the parking arrange as this is really independent of the compression services. These storage company typically have their own agreement that not bad and usually won't use the counterparties paper.
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A: Bay Gas Storage

Q: Market Notice October 29, 2001 Market Participants: The ISO has been notified that effective HE0800 (beginning at 0700) October 30, 2001, CERS will no longer provide creditworthy backing of negative decremental energy bids and negative OOM sales (i.e. any bids below zero dollars). If for reliability purposes, the ISO needs a negative decremental energy bid, CERS has indicated to the ISO that it may back such bids on a case-by-case basis at its sole discretion. Accordingly, in continuing compliance with FERC's orders, the ISO will not dispatch any negative decremental energy bids or any negative OOM sales absent assurances of creditworthy backing. Please contact your Client Representative with any questions.
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A:
CERS Update