DRAFT Enron California Gas Response

Please take a look at the attached draft explanation of recent events in the
California gas market. When completed, this narrative is intended to be used
for two purposes:
1. The factual basis of an Enron/Ken Lay letter to regulators/legislators on
recent events in the California gas market; and
2. a briefing paper to be used by our DC office in dealing with
legislators. Specifically, Joe Hillings has been asked to provide a briefing
to Congressman Bill Thomas (R-CA) prior to the congressman's upcoming meeting
with FERC.