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---------------------- Forwarded by Richard B Sanders/HOU/ECT on 01/10/2000 08:29 AM --------------------------- Susan J Mara@EES 01/07/2000 05:50 PM To: James B Fallon/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Richard Shapiro/HOU/EES@EES, Christian Yoder/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Joe Hartsoe@Enron, Mary Hain/HOU/ECT@ECT cc: David Parquet/SF/ECT@ECT Subject: Conversation with John Flory-CalPX -- Attorney -client Privilege As requested by Joe Hartsoe, I put in a call to John Flory yesterday. John called me back today. He said the view in the PX is that Enron is stalling. I gave him the other side of the story. He thinks nothing will be done until the next Market Monitoring COm meeting later this month (the PX web site does not list the date), He says the matter will likely be discussed in Executive Session. He also believes that the PX wants to meet with Enron and isn't likely to do anything publicly until after that meeting. Unfortunately, from talking to John, the perception at the PX appears to be that this matter should be handled like the Chicago Board of Trade where they monthly release a list of offenders and what they have done, and nobody thinks much about it. It's routine. That's the wat they want these to be in the future, but they realize that this one -- the first -- will seem much bigger than that because it is first. He said we got stuck because we did something significant and they really didn't have any process set up to handle these things. He said the compliance staff has only gotten some real analytical skills as of Nov (although he mentioned outside consultants looked at our case). We also aren't being picked on. Other people are being investigated, but we're coming through first. I asked about utility pressure. He said he has been asked about the investigation by utility people, but doesn't believe it has caused any undue pressure on the PX. He said, if they were being pressured, the investigation would have been completed by now. He said that they don't want to give the matter any more significance than it has, but they can't ignore it. A 3000MW schedule over a 30 MW line just can't be ignored, he said. I didn't ask him for a heads' up on the public release of the letter, but I feel I can call him for updates at any time.
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