Subject: "RAC MD and VP Nominations --CONFIDENTIAL".

Body: I have two nominations for MD and one for VP. VP David Port MD Ted Murphy Dave Gorte All of the above would be in the Specialized Technical category. Call me if a problem, Rick Buy

Subject: "412868".

Body: Fran - It looks like you either made changes or added legs to this deal today. Do they need to reconfirm this? Please let me know. Thanks,

Subject: "ILA/ESMA conflicts".

Body: What is your preference when there is a conflict between the interim agreement and the last draft (v23) of the ESMA. (For instance, the definition of ancillary services.) Shall I just ignore the ILA, or does it represent the customers' expectations? Kay

Subject: "Positions for the weekend - READ THIS".

Body:
For Saturday: STWBOM will be long 20 mw HE 2-5 @ PV due to a parking deal with PNM. Day-ahead price is $15.50. Make real time sales to take care of this length under the STWHOURLY book. Enter an inter-desk purchase from STWBOM under the STWHOURLY book. For Saturday and Monday: STWBOM will be short 50 mw on peak @ SP15. Day-ahead price is $27.60. Make real time purchases to cover the short under the STWHOURLY book. Enter an inter-desk sale from STWHOURLY to STWBOM. Then make a sale under the STWBOM book to the Cal-Imbalance to complete the deal. For Saturday and Sunday: STNW will be short 44 mw off peak @ PGE System due to a lending deal with PGE. Day-ahead deals are at the Mid-C Index. Make real time purchases and any transmission necessary to cover the short under the STWHOURLY book. Enter an inter-desk sale from STWHOURLY to STNW. Link real time purchases to STNW deal 828626.