Spreadsheet: elizabeth_sager__9478__California Exposure 060701
Sheet: Edison Int'l 

RAC - Risk Assessment & Control
California Exposure as of COB
 |  |  |  |  | May |  |  | June |  |  | Estimated |  | April
 |  |  | Financial | Physical | Sales | Purchases | Cash | Sales | Purchases |  | Net Settlement Risk | Net Physical | Sales | Purchases | Cash | Enron's Net | Counterparty's
Counterparty | Enron Entity | Entity Code | Mark-to-Market | Mark-to-Market | (A/R) | (A/P) | (A/R - A/P) | (A/R) | (A/P) | (A/R - A/P) | (A/R - A/P) | (Cash + Phys) | (A/R) | (A/P) | (A/R - A/P) | Exposure | Net Exposure
Southern California Edison Company | EPMI | ENA | 0 | 3512011 |  | 0 |  | 0 | 0 |  |  | -43530494 | 1200000 | 0 |  |  | 0 | Please note that $125,071,296 of the power receivables that EPMI has with Southern California Edison Company is related to EES receivables that was 'transferred' over to EPMI which are trued up on a quarterly basis to EES/EEMC books.
Southern California Edison Company | Portland General | PGE | 0 | 0 | 53333333 | 0 |  | 0 | 0 |  |  |  | 0 | 0 |  |  | 0 | Estimates of Portland General Exposure relating to an annuity stream due for the termination of power sales agreement 3 years ago.
Southern California Edison Company | EES | EES | 0 | 0 | 0 | 0 |  | 0 | 0 |  | 0 |  | 0 | 0 |  |  | 0 | [NAME] due to EES which is to be transferred to EPMI's balance sheet. See EPMI net settlement exposure above Forward Physical MTM of $(8.8)mm was released due to putting customers back to utility effective March 13.
Southern California Edison Company | EEMC | EES | 0 | 0 | 0 | 0 |  | 0 | 0 |  | 0 |  | 0 | 0 |  |  | 0 | [NAME] due to EEMC which is to be transferred to EPMI's balance sheet.  See EPMI net settlement exposure above.  Forward Physical MTM of $(9.8)mm was released due to putting customers back to utility effective March 13.
Southern California Edison Company | Enron Wind | EWC | 0 | 27853251.40102803 | 8652379.34 | 0 |  | 0 | 0 |  |  |  | 0 | 0 |  |  | 0 | Mark to Market as of 04/18/01; estimates on accrued A/R as of 04/10/01.
Total Utility Exposure
Edison First Power Limited | ECT Resources Int. | EEL | 0 | 0 | 0 | 0 |  | 0 | 0 |  |  | 0 | 0 | 0 |  |  |  | Per London. Power Swaps
Edison First Power Limited | ECT Resources Ltd. | EEL | 0 | -5416049 | 0 | 0 |  | 7614809 | 0 |  |  | -4444817 | 0 | 0 |  |  | 0 | [NAME] sleeves for ECT Resources under one coal contract. | (a)
Edison Mission Energy | ENA Corp. | ENA | 0 | 0 | 0 | 0 |  | 0 | 0 |  |  | 11891006 | 0 | 0 |  | 0
Edison Mission Energy - First Hydro | ECT Resources Int. | EEL | 0 | 0 | 0 | 0 |  | 0 | 0 |  |  |  | 0 | 0 |  | 0 |  | Exposure if any is due to financially settled swaps.
Edison Mission Marketing & Trading | ENA Corp. | ENA | 9317615 | -28907 | 0 | 0 |  | 0 | 0 |  |  | 0 | 0 | 0 |  |  |  | ENA has a $35MM inc gty from Edison Mission Energy for (4) specific swaps and a $15MM inc gty from Edison Mission Midwest Holdings for the remaining swap portfolio.
Edison Mission Marketing & Trading | EPMI | ENA | 0 | -726350 | 15617440 | -16896840 |  |  |  |  |  | -11111175 | 14468775 | -16120230 |  | 0 |  | EPMI has a $20MM inc gty from Edison Mission Energy and a $5MM inc letter of credit.
Subtotal Non-Utility Exposure
Total Exposure to Non-Utility Subsidiaries |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | With Master Set-Off
Total Master Set-Off Benefit
Total Exposure after Set-Off
Total Trading Exposure after Collateral and Set-Off
Total Regulated Utility Exposure |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | With Master Set-Off
Total Relationship Exposure after Collateral and Set-Off
Notes:
(a) Net Settlement Risk for [NAME] is only one-month receivables/payables due to approx. 10 day settlement for coal delivery.
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