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Enron Mail |
The PX confirmed receipt of EPMI's Notice of Termination as of 1:30 pm PST
today. Afterwards, we tried to establish the time that the PX declared that PG&E and Edison were in default so that we could, if necessary at a later time, show that EPMI had terminated before that default. Unfortunately, the PX would not come out and say that a default had occurred, and as the day wound down, employees at the PX became more and more taciturn. Brett made all of his calls on recorded lines, but I asked him to summarize the conversations in writing. I thought everyone would be interested in seeing this. Good work, Brett. Steve ---------------------- Forwarded by Steve C Hall/PDX/ECT on 02/01/2001 05:46 PM --------------------------- D Brett Hunsucker 02/01/2001 05:36 PM To: Steve C Hall/PDX/ECT@ECT cc: Chris Stokley/HOU/ECT, Murray P O'Neil/HOU/ECT@ECT Subject: Conversation w/PX re: Default on 2/1/01 Steve, per your request. Holli Kreb's desk; Presched1: 13:40; Spoke to David Dan (626.537.3555) @ CalPX. Asked him: 1) if PG&E and SCE had made pmt yet, 2) If anyone had defaulted 3) Has the PX declared a default at this time. David answer to these questions was he hadn't heard of anything, but he isn't in a position to know about these events. He suggested I call Clark Cheng (x3243). Immediately called Clark and left message asking these three questions, and requested he call me ASAP. Donald Robinson's desk; Presched1; approx. b/t 14:00 and 14:30. Called Clark Cheng @ CalPX. Q: Did PX rec. PG&E and SCE pmts? A: Can't tell right now. Back office is currently aggregating all of the data and trying to determine PX' position. Q: Has there been a default yet? A: No. Too soon to tell. PX doen's want to arbitrarily make that call until they've had a chance to contact the participant(s) and confirm an intent to default. Q: Has PX declared a default? A: No. PX hasn't determined if they're dealing with a default. So, PX has not made any such claim or notice to that effect at this time. Q: Once PX has had time to look at the data and determine if there has been a default, how will that be communicated to the market participants? A: PX plans on notifying the market via email. PX anticipates an email will not go out until Friday, 2/2/01. Hope this helps. Let me know if you need anything else. Regards, Brett
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