Spreadsheet: richard_sanders__31702__CA PX and ISO Exposures 030901
Sheet: PX and ISO Outstanding Exposure

RAC - Risk Assessment & Control
Updated California PX and ISO Exposure (as of 3/9/01)
Counterparty:  The California Independent System Operator (CAISO)
 |  |  | Enron Power Marketing, Inc. |  |  | Portland General Company
Activity Month | Description |  | Net Revenue | (Net Expense) |  | Net Revenue | (Net Expense)
2000-11-01 00:00:00 | Real Time Transmission and Grid Mgmt |  | 54974349
 |  | (EPMI paid by ISO 2/5/2001 and PGE paid by ISO 2/8/01) | -1016625
 |  | (EPMI paid by ISO 2/13/2001 and PGE paid by ISO 2/14/01) | -12453330
 |  | (due EPMI and PGE) |  | * |  |  | *
2000-12-01 00:00:00 | Real Time Transmission and Grid Mgmt |  |  |  |  |  | (includes $7,599,600 of Mandated Sales per Richardson order)
 |  | (EPMI paid ISO 3/5/01 and PGE partially paid by ISO 3/8/01)
 |  | (due PGE)
2001-01-01 00:00:00 | Real Time Transmission and Grid Mgmt | (not yet billed) |  | -12128192.17 |  | 10737043 | (all Mandated Sales per Richardson order)
2001-02-01 00:00:00 | Real Time Transmission and Grid Mgmt | (not yet billed) |  | -6130740.44 |  | 4358562 | (all Mandated Sales per Richardson order)
Counterparty:  The California Power Exchange Corporation (CA PX)
 |  |  | Enron Power Marketing, Inc. |  |  | Portland General Company
Activity Month | Description |  | Net Revenue | (Net Expense) |  | Net Revenue | (Net Expense)
2000-10-01 00:00:00 | Real Time Default Share Invoice (SCE Default) | (shortpaid to EPMI and PGE had to pay)
2000-11-01 00:00:00 | Real Time | (due EPMI and PGE) | 19262.94 |  |  | 139499.57
 | Real Time Default Share Invoice | (shortpaid to PGE) |  |  |  | 1081698.56 | **
 | Real Time Default Share Invoice | (billed to EPMI - not yet paid) |  | ($17,846,030.82)**
2000-12-01 00:00:00 | Real Time
 |  | (3/2/01 EPMI asked PX via letter to draw down from cash in Escrow - no written confirm received from PX to date) |  | 864091.23
 |  | (assumed by EPMI as paid)
 | CORE (Day Ahead/Day Of) |  |  |  |  | 1585324.92
 |  | (received from PX 1/18/2001)
 |  | (received from PX 1/30/2001)
 |  | (PX applied to PGE's DEC ancillaries bill) | 0
 |  | (shortpaid to EPMI) |  |  |  | 0
 |  | (to be recovered/due Enron) |  | *** |  |  | ***
2001-01-01 00:00:00 | CORE (Day Ahead/Day Of) | (not yet billed) |  |  |  | 7623476
 | Block Forward | (not yet billed)
DETAILS TO ABOVE:
CA ISO | *Nov-00 Real Time Default attributed from CA PX (99.93%) and Pacific Gas & Electric (0.069%)
 | CA PX details to be further provided to reflect 99.93% default
CA PX | **Nov-00 Real Time Default Share Invoice
 |  |  | EPMI's Share of Defaults from CP's (if FERC determines that EPMI must pay chargeback): |  |  |  | PGE's Share of Defaults from:
 |  |  | [NAME] |  |  |  | [NAME] |  | 69492.41
 |  |  | PG&E |  |  |  | PG&E |  | 1008410.97
 |  |  | BPA |  |  |  | BPA |  | 1130.07
 |  |  | Sierra Pacific Industries |  |  |  | Sierra Pacific Industries |  | 604.68
 |  |  | Salt River Project |  |  |  | Salt River Project |  | 2041.68
 |  |  | WAPA |  |  |  | WAPA |  | 18.75
CA PX | ***Dec-00 CORE Default Share Invoice (SCE Default) |  | (shortpaid) |  |  | (shortpaid)
 | ***Dec-00 CORE Default Share Invoice (add'l from SCE Default) |  | (shortpaid) |  |  | (shortpaid)
 | ***Remainder due to EPMI (in addition to shortpay of $172,172.76): |  | (due EPMI) |  |  |  | 0