IN: Thanks Chris - I assume you are speaking about credit risk on the thirty day deal when you refer to the $2M exposure on $100 - has Tim spoken to John about this? I am supportive of this proposal and approach. Like our discussion, we have to find a way to be supportive to the re-development of this market without creating un-acceptable credit or market losses. We also have to support Lay's efforts in California. Regards

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OUT: Freeman and CDWR

IN: The ABB breakout contract and the GE breakout contract are just about done. I'm not volunteering for change order duty. Do you think this is a good Roger task?

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OUT: LM6000 Contract Changes

IN: Please see the attached. I am still trying to obtain the DOE reports for Canada from Juanita Marchand for Question #19 of the Pan Alberta. Any help you could give me there would be greatly appreciated.

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OUT: Responses to Data Request

IN: Please note the attached letter from Nancy Cianflone. The intent here is to let you know that KeySpan Energy Delivery has hedged 27% of our flowing winter supply. This was done in order to mitigate any spikes in this winters market. You may want to take this into account when pricing your winter contracts. Mike - Hedge1.doc

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OUT:
KeySpan Hedging