November RT Market Default Invoice

The CalPX has invoiced EPMI for $17.8 million for November real-time (ISO)
charges. The invoice arrived yesterday, and EPMI's payment is due February
20.
---------------------- Forwarded by Steve C Hall/PDX/ECT on 02/09/2001 09:17
AM ---------------------------

Murray P O'Neil
02/09/2001 08:49 AM
To: gfergus@burbeck.com
cc: Christian Yoder/HOU/ECT@ECT, Steve C Hall/PDX/ECT@ECT, Mary
Hain/HOU/ECT@ECT

Subject: November RT Market Default Invoice

Gary,

Attached you will find a November RT (Real Time) Market Default Invoice
which was receive by EPMI from the PX this morning.

This invoice was published on the PX Settlement Web Site. Again, the PX
failed to notify market participants that this invoice was out there.
Normally they would send an email out and inform all market participants of
it's availability. If Market Participants don't know about this invoice
being out there they will end up defaulting on their payments. (That may be
what the PX wants so they can go after the collateral.

If you have any questions please let me know.

Good luck today! - MO