IN: We are pleased to announce a new addition to the Portland West Desk: Darin Presto has recently joined the Real Time Trading Group. Prior to working at Enron, Darin was a Biology teacher in Richland, Washington. He is a graduate of Concordia University (Portland) & Eastern Washington University, where he received Bachelors degrees in Biology & Exercise Science (respectively). He also received a Master of Arts in Teaching degree at Concordia. Please join us in welcoming Darin to our Portland office!

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OUT: Welcome new hire: Darin Presto
IN: This is an email
All: Following is a list of outsanding items: (1) ISDA Master Agreement (Schedule and Credit Support Annex) I need to better understand EWEB's proposed settlement language. ENA generally sends an invoice when the counterparty owes a payment (but not when ENA owes a payment). The invoice reflects the outstanding transactions for a given Calculation Period and the net amount owed. ENA can generate this invoice in all cases. Does EWEB intend that BOTH parties always send reciprocal invoices? Is is necessary that the Calc Agent ALSO make a phone call? What does EWEB's language "separate invoices and documentation covering each Transaction sufficient to permit the other party to comply with its interanl accounting and record keeping procedures concerning individual Transactions" mean? Please call me to resolve. When can we execute? (2) Cable Huston legal opinion: please add (1) opening paragraph: "(iii) the Confirmations for Transactions ENA Contracts Nos. 447459.02 and 447459.4 each dated October 30, 2000 ..." (2) Paragraph 12 prior to the period in the first sentence: "as those terms are defined in the Master Resolution adopted by the EWEB Board on June 16, 1986, as supplemented" (3) the two (2) confirmations These require execution by EWEB. When will this be done? (4) Bond Counsel opinion Dick, I sent you an email on Friday. ENA is pleased to discuss with your counsel. Please refer to Larry's legal opinion: the deleted Paragraph 10 of the December 21, 2000 draft and the Paragraph 12 of the December 30, 2000 draft for the type of information requested. Please let me know if I have left out any items. I would like to finalize documentation today. Regards. Sara

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OUT: Finalization and Execution of ENA/EWEB documentation
QUESTION: Per my conversations with Mark Taylor, we should continue to put any weather trades done online under any relevant master agreement with the counterparty. Further, there is no prohibition against doing a trade online with a counterparty when we do not have a master in place. Any non-master trades would go under the respective GTC. It appears to be only a coincidence that we are trading online only with counterparties we have masters in place with.
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ANS: Online Weather Trading
Hi Andy, I'm not sure if Andy Lewis explained to you what we were working on with Enron. Basically, our team is responsible for creating a performance simulation to replace Enron's Basic Risk Management course. Along with the simulation, a Knowledge System (series of html pages) will be delivered to each learner. This Knowledge System is a series of topics or "chapters" each consisting of content that will help the learner perform throughout the simulation. Think of this as a encyclopedia, where the learner can go to as a source of reference. Topics include, but are not limited to: Hedging Basics, Risk Identification, Swaps, Options, Commodity Fundamentals, and Accounting & Reporting. I've attached the topic outline for Swaps and the practice exercises and graphics section of the Knowledge System for you to review. (See attached file: Framework Swaps_Final.doc)(See attached file: Swaps Graphic ideas and practices_5.doc) Sheri and I are responsible for this Knowledge System and would like your help in the Swaps topic. Specifically, we would like you to help us with practice exercises the learner will complete within the Swaps topic and graphic ideas that will also support the content in this topic. In addition, we are hoping you can provide us with some of the questions that is outlined in the topic outline. (see above) I will still like to meet with you this afternoon at 3:00pm, so let me know what your schedule looks like. Let me know if you have any questions, I can be reached at X5-6687. Thanks,
Q: What is a potential subject line for this email?
answer: Confirmation: Risk Management Simulation Meeting 11/15/01
On July 25, 2001, FERC issued an order approving PJM's modification of the deadline for reserving daily, firm point-to-point transmission service from noon on the second day prior to commencement of service to noon on the day prior to the commencement of service, effective June 18, 2001. If you need further information, please let me know. Susan Scott Lindberg x30596
Answer: PJM Interconnection LLC OATT revisions (ER01-2327)
Q: Attached is the final version of the Interconnect Agreement. I've changed Section 4.2 in accordance with our e-mail discussion. Additionally, I've filled in the blanks for POI# and date of commencement of construction, and added an Exhibit A (and a reference to Exhibit A in the definition of "Facilities") listing what will be installed. Darin, kindly fill in the appropriate contact information on page 11, have the agreement executed by EPFS in duplicate originals, and return both originals to me. I will return a fully executed original to you. Lorraine Lindberg will be forwarding you wire transfer information for the payments that are due from EPFS upon execution. If you have any questions, please do not hesitate to contact me. Lorraine will be on vacation as of tomorrow. Thank you,
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A:
EPFS/TW Interconnect Agreement