Q: Hertzberg called. We very briefly discussed the scenarios that he asked us to build for him. I've attached the file. the supporting spreadsheets are not included. If folks would like them, let me know. Please keep the file confidential. Hertzberg wanted to see what happened to rates for large (noncore) customers if the small (core) customers' share of past utility debt is shifted to noncore customers. Our analsis shows that noncore rates approach Loretta's recent rate increases when approximately 50% of core's share of utility past debt is shifted to businesess (i.e., to noncore). (In fact, Edison's rate in this scenario is below the Lynch rate, while PG&E's is modestly above.) Increasing the cost shift above the 50% level would start to push rates significantly above the Lynch rates. Note, however, that in its recent submission to the PUC, DWR's asserts that it's revenue requirement is substantially higher than the revenues support by the Lynch rate increase, suggesting that Lynch will have to increase rates again soon. In addition, Loretta's rates also do not reflect past utility costs, which will require yet additional increases. I expect to have another conversation with the Speaker later this evening or tomorrow to discuss the scenarios in more detail (he would still like to put 100% of the IOUs past debts on noncore in exchange for getting a competitive market and out from under Loretta). I will report back after we've spoken. All ideas, suggestions, etc. regarding the attached spreadsheet are welcome and appreciated. Best,
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A: Follow-up with Hertzberg on Core/Noncore
IN: Bob: per your request, here is the rundown on Patti's activities for August and beyond. 1. We calculated the amount we made on her experience in handling El Paso's transport to be close to $1 million/ month. 2. I could not even begin to calculate the amount made just by having her here. If Patti had just quit with everyone else gone, the amount lost on El Paso would be huge, including loss of credibility on our part with our customers. The exact amount would be close to $1 million/month I would think. 3. The spreads out West have been huge this summer. We were able to take advantage of this because Patti was here to do the scheduling during a very difficult time. 4. When I was out for the entire month of August, Patti was not only holding down a desk that usually three people handle, but was also filling in on management duties. 5. Patti worked 14 weeks in a row, including weekends, without taking a day off. She worked at least 12 hours a day during this time, handling several different jobs at a time. 6. The exact value of what Patti did is hard to determine. I would estimate that her presence here and stepping in to help out was woth about $5 million to the desk.

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OUT: Patti Sullivan
IN: This is an email
For Tuesday - STWBOM will be short 75 mw on peak @ SP15. The short is related to three day-ahead pieces which were sold @ $27.20, $28, and $27.11. 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. Please let me know if you have questions.

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OUT: STWBOM Short for 10/16
QUESTION: You have many questions about how the bankruptcy will affect you personally. The HR team is endeavoring to answer these questions. Due to simple logistics, answering each question individually is very difficult. We are working to solve this issue by compiling answers to the important questions concerning employee benefits, expense payments and so on. Answers to the most frequently-asked questions will be posted on the corporate website at www.enron.com. Click on Information for Enron Alumni Affected by Chapter 11 Filing </corp/alumni/> . These Q&A Facts are regularly updated as soon as accurate and factual information is received. In addition, we will have updates on 1-800-97-ENRON. (Option 9) If you have questions that have not been answered, please submit them to the following email address: questions@enron.com A team of people will be answering these questions and posting answers on the above sites as soon as possible. The HR team will also be posting initial Q&A's within the next few days on www.home.enron.com for our current, retained employees. Thank you for your patience as we work through the complexities of the situation. Julie Kearney 503) 464-7404 julie.kearney@enron.com
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ANS: Q&A Process
The Moorings people asked me to call back tomorrow when they'll have a better idea about the storm situation - they canceled all of their charter starts for today & tomorrow (no surprise) and she expected Thursday's to cancel also. They still have everything for the weekend scheduled to go out but they weren't supposed to confirm any hotel rooms between now and Saturday. They were able to confirm a room for you for Sunday the 28th (the day we have to bring the boat back). I'll let you know what happens when I get through to them tomorrow. Mark
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answer: BVI Hotel Rooms
Attached is a memo outlining my concerns in ENA entering into the above-referenced agreement. I will forward to you a hard copy of the Water Code that I reference in my memo. Please do not forward this memo to CDWR or their consultant. I can prepare a version suitable for distribution to CDWR if you would like. Stacy
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answer:
CDWR Draft GISB Agreement