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I think that the slides are quite good. However, there has been a lot of
press recently in certain areas (such as Arizona and Nevada) still predicting
shortages for this summer. Thus, one of the slides addressing the net short
issue may be somewhat confusing to those that are familiar with the shortage
issue from reading press reports.

-----Original Message-----
From: Comnes, Alan
Sent: Friday, June 01, 2001 10:41 AM
To: Steffes, James; Dasovich, Jeff; Thome, Jennifer; Guerrero, Janel;
Perrino, Dave; Kaufman, Paul; Alvarez, Ray; Shelk, John; Mara, Susan
Subject: Concept Slides Reacting to Latest Push for Price Caps CONFIDENTIAL

Yesterday (5/31) Jim Steffes, John Shelk, and I met with Jeff Duncan, a
staffer for Congressman Markey (D-MA). Unfortunately, Markey's 80% forward
contracting requirement seems to be alive and well. He seems commited to the
belief that forcing more 18-month deals will help customers in the current
"sellers" market. He specifically asked for information on the amount of
forward contracting currently in place.

Please review attached slides (the word slides are very rough) and give me
feedback as to whether the current market information would effective in
either our DC or Califronia legislative.

Note that the forward price information is confidential and we need to get
clearance before we release.

GAC
<< File: Western Electricity and Gas Markets Update.ppt <<