CONFIDENTIAL

For your review/comment. We are potentially submitting these points into
settlement discussions. Do we want to propose that the CAISO develop the
systems to implement hourly day ahead markets? Is this ok with Jeff
Richter? Ray

---------------------- Forwarded by Ray Alvarez/NA/Enron on 06/26/2001 08:36
PM ---------------------------

Ray Alvarez
06/26/2001 08:29 PM
To: biggsbg@bp.com, harry.singh@neg.pge.com, rloeffler@mofo.com,
john-meyer@reliantenergy.com, ddickson@avistaenergy.com,
doug.little@powerex.com, linda.lee@ferc.fed.us
cc: James D Steffes/NA/Enron@Enron, Robert Frank/NA/Enron@Enron

Subject: CONFIDENTIAL
Necessary Market Reforms for CA.

Per our discussion, please find attached the first draft of the referenced
document.