RE: term power deal

Hi Chris

1. We don't have a "one off form" for US power trading, but it may be possible to use the US GTCs (3 pages) - this document contemplates multiple trades but is shorter than EEI. It however does not define INTO products, and in general EEI is much better and longer. Credit usually insists on using EEI w full blown credit and product definitions.

2. Success always comes at a price - great job winning out the financial vs. physical debate. (ps you may think the pain is over but ... in the US, meetings continue in August to finalize collateral annex and new products. oh boy).

Hope all is good and Addy is doing well. Tell Tracy Hi and that I've been waiting for a psychological improvement before I call her - at this rate it may never happen so I'll just have to bit the bullet and call her in my never ending foul mood. See ya all soon I hope.

-----Original Message-----
From: Gaffney, Chris
Sent: Tuesday, July 03, 2001 3:01 PM
To: Sager, Elizabeth
Subject: term power deal

Elizabeth - Two things:

1. One of our originators has been talking to a Canadian counterparty that wants to do a one-off term (3 year) purchase and sale transaction "into Entergy". Would they need to put an EEI form in place or is there another document they could use for a one time transaction. The customer is a pulp, paper and forestry products company.

2. We expect to release a form of EEI master in Toronto later this week. With the warm weather and the 8 month process I have had to not only act as draftsman, but also meeting organizer, communications coordinator, and a number of other roles that have been extremely satisfying. While I am satisfied that I managed to keep the group from making too many changes to the EEI form I look forward to closure on this project.

Regards
Christopher J. Gaffney
Senior Counsel
Enron Canada Corp.

phone: (416) 865-3711
fax: (416) 865-3766
email: chris.gaffney@enron.com