This is the content of an email: The promotional memo came out a couple of hours too late for me to be able to mention it to you on the phone this afternoon. Congratulations on your promotion to Managing Director. --Sally

Subject: Congratulations

This is the content of an email: Greetings: Sue Landwehr will be sending around a more comprehensive summary of what happened at today's FERC hearnig in Boise but asked me to pass along the following. Each state was only allowed to have two people at the table. For California it was Assembly Speaker Hertzberg and Geoff Brown (newly appointed CA PUC Commissioner). Hertzberg did a credible, matter-of-fact job of explaining what California's doing to resolve the crisis (nice to know that there's someone out there who can explain what the heck California's doing). Hertzberg then asked that FERC do "its part" by imposing price caps in Western wholesale markets. Hertzberg didn't mention the PG&E bankruptcy or Davis' deal with Edison. Overall, the "no price cap" message won the day (though Breathitt seems to be under considerable pressure to give in to caps). The Governor of Arizona (Jane Hull) had a staffer deliver a letter signed by 9 republicant governors opposing price caps. Sue will be distributing the letter. Best,

Subject: FERC Hearing in Boise

This is the content of an email: I've entered the following imbalance deals under STCA and STWBom desks. 599966 STCA sells Cal Imb NP-15 On Peak 38 MW 600031 STWB sells Cal Imb NP-15 On Peak 37 MW Let me know if you have any questions. Kate

Subject: Cal Imbalance Deals - 5/3

This is the content of an email: Geoff- Do you still want to launch Secondary Firm Index products and Dawn vs. Niagara Phy Fwd Firm Spreads?? Let me know so our bridging team can continue working on them. Chris 3-7533
Subject: EOL products