FW: DWR Again

We should discuss this.

-----Original Message-----
From: Bradford, William S.
Sent: Friday, May 04, 2001 6:39 PM
To: Tribolet, Michael
Subject: FW: DWR Again

CDWR is still trying to buy from Enron. What is your view on the current
regulatory status and its impact on DWR credit quality?

Let's discuss.

-----Original Message-----
From: Ngo, Tracy
Sent: Friday, May 04, 2001 12:31 PM
To: Bradford, William S.
Subject: FW: DWR Again

-----Original Message-----
From: Calger, Christopher
Sent: Friday, May 04, 2001 10:07 AM
To: Ngo, Tracy; Yoder, Christian; Sager, Elizabeth; Dasovich, Jeff
Cc: Belden, Tim; Kitchen, Louise; Haedicke, Mark
Subject: DWR Again

We have another opportunity to sell to DWR. I have been in discussions with
Ray Hart of DWR and Ron Nichols, their consultant. We are closing in on a
structure that has less upfront risk for Enron with a larger overall short
position in the back. They want to move to contract negotiations next week.
I would appreciate your input. I will arrange a conference call with the
legal and credit teams for Monday to review the status of our EEI contract
and the requirements for this potential deal. Notional terms:

NP-15
Peak

Q301: 100MW
Q401: 100MW
Q102: 150MW
Q202: 200MW
Q302: 250MW
Q402: 300MW
1/03-12/06: 300MW

approx 6MM PV MWhrs
price: $85/MWh