Status

Barbara has asked that I submit a weekly report about what I'm working on. I
haven't had time to fix up anything pretty, but I'll give you the big ticket
items:

Fuel Cell Energy/CRRA transaction. Enron owns equity and holds warrants for
Fuel Cell stock. We need to sell 55 mw of fuel cells in order to get the
benefit of the warrants. The commercial team is working on a deal to place
50 mw with the Connecticut Resource Recovery Authority, a state agency. I
have been working feverishly on the equipment contract, and we recently
completed the LOI with CRRA. We need to move to more definitive docs with
CRRA, and the structuring isn't complete. The decision about whether the
state will fund the project is expected in December. This deal is likely to
continue to take up a large amount of my time, and requires a fair amount of
travel, as I am involved in direct negotiations. This transaction is on Dave
D and Janet D's radar screen, and Mark is familiar with it. The potential
upside (in a perfect world), is rumored to be in the nine figure range.

Turbopark. Turbopark is the latest financing vehicle for power projects.
Enron is moving 20+ turbines into Turbopark in the next 45 days. This
requires a series of contracts with GE (at least 6) which I am working on.
We also have to move transformers into this facility, so I have been in
contact with ABB concerning same.

GE general. ENA is attempting to negotiate a standard contract with GE.
I've been working with Sheila on this one. We are committed to finish this
project by the end of this year.

Westinghouse warranty issues. ENA has two significant disputes wiht
Westinghouse concerning a couple of turbines. I'm riding herd on resolving
the issues.

VEPCO. We were attempting to negotiate a PPA with Virginia Power, but ran
into some problems, so it won't close this year. Theres' some miscellaneous
follow up work to do.

Illinois development. I'm supporting the devolopers who are developing power
plant sites in Illinois.

Enron/Peoples joint venture. I'm working with the Enron commercial team in
certain matters relating to getting the joint venture up and running.

This gives at least an overview of what I'm spending most of my time on.
.