Q: Today's mail brought the following news: 1. Metropolitan Water District: MWD has terminated Deal Nos. 790056.01 and 807275.01, effective December 12, 2001. There are two other one-month deals, one beginning in February and one in March. I am confirming with MWD that they intend to terminate those as well, as is required under the WSPP agreement. 2. City of Vernon: City of Vernon has terminated all deals effective December 27, 2001. 3. WAPA is retaining monies due Enron for post-November 30 deliveries while WAPA "assess[es its] set-off rights under the Bankruptcy Code and other applicable law." 4. City of Luzenac has suspended deliveries until January 15, 2002. 5. City of Burbank has terminated all transactions immediately.
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A: West Power Counterparty Update: 12/31/01

Q: Below is an updated list of recent contract terminations. I believe we need to review our internal notification system to make sure this information gets distributed in a more timely fashion. United Illuminating - effective January 1, 2002 HQ Energy Services - effective January 1, 2002 First Energy Solutions - effective January 2, 2002 Old Dominion - effective January 10, 2002 - we should schedule in PJM through the 10th of January (do we have any other positions with Old Dominion). Ameren Energy GPU Energy - effective January 21, 2002 - we should schedule in PJM through the 21st of January (they may push back, but we should remind them that they will be subject to LDs). Call David Portz at 3-9239 with questions.
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A: Recent Contract Terminations

Q: I just got off the phone with Margaret Lester, a contract administrator at Dynegy, and Harlan Murphy, an attorney she works with. There was some misinformation communicated to them about EOL, and I told them the only way we would trade online with them was under the existing master, not under the online GTCs, we wanted the bankruptcy protection the master affords. They want to replace the old ERMS Master with an ISDA and I told them we would be happy to generate the master. Can I get some credit from you so I can turn around a master quickly, or we will have to work off their form, which will then become an ISDA comparison which will be a lot more work in the long run. Much thanks as usual for your prompt help!
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A: Dynegy Marketing and Trade

Q: Stephanie, Attached is the clean and redlined revised Capacity Release and Assignment Agreement. I changed the notification to require that Calpine give us notice and that we would attempt to negotiate with the pipelines to arrange an alternative to the notice. Please review.
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A:
Revised Capacity Release Agreement