Possibility of Delay in Alberta Restructuring

Further to my voice mail.
---------------------- Forwarded by Rob Milnthorp/CAL/ECT on 09/18/2000 05:04
PM ---------------------------

From: Robert Hemstock 09/18/2000 05:01 PM

To: Rob Milnthorp/CAL/ECT@ECT
cc: Aleck Dadson/TOR/ECT@ECT
Subject: Possibility of Delay in Alberta Restructuring

Rob, I spoke to Larry Charach of the ADRD on Friday and specifically asked if
the Government was considering a delay of its restructuring timetable to: 1)
address concerns of consumers that it is impossible for them to make a choice
of supplier prior to November 1, 2000, and/or 2) to give time to develop a
workable Plan B. Larry was adamant that there will be no delay in Alberta
and said there is no point in any stakeholder even proposing a delay because
it such a proposal was a "non-starter" and won't happen. He told me during
the discussion that investors will not invest in a jurisdiction where the
government does not follow through with what it says it will do and he
referred to the Jan 1, 2001 date as a firm commitment of the government
entrenched in the legislation. I agreed with him that this was absolutely
the right approach and told him that the Government had Enron's full support
on this issue.