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Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Sanders, Richard B. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RSANDER< X-To: 'KHAJWeg@aol.com@ENRON' <IMCEANOTES-KHAJWeg+40aol+2Ecom+40ENRON@ENRON.com< X-cc: X-bcc: X-Folder: \Sanders, Richard B (Non-Privileged)\Sanders, Richard B.\Sent Items X-Origin: Sanders-R X-FileName: Sanders, Richard B (Non-Privileged).pst I have been out of the country for the last week, but am in today. I am available anytime this AM. -----Original Message----- From: KHAJWeg@aol.com@ENRON [mailto:IMCEANOTES-KHAJWeg+40aol+2Ecom+40ENRON@ENRON.com] Sent: Monday, September 03, 2001 7:16 PM To: Sanders, Richard B. Cc: hweg@pgwlaw.com Subject: Official Participants Committee and Unofficial Energy Sellers Committee Richard, please call me so we can discuss directly the question of arbitration against SCE for the PX claim of $824 million. I think its important and I would like to discuss it with you personally. Second, I am representing Enron's sub, Portland General Electric Company, on the Unofficial Committee of Energy Sellers that has about 20 members. 12 of the members have voted to send a low key, non threatening message to the Calif legislature on the pending AB78X to the effect that if they pass a bill that leaves SCE $1 bill short in financing, then other energy sellers (you and I know or can guess who they are) will probably feel forced to start an involuntary bankruptcy or to start litigation against SCE. The Unofficial Committee was formed to not threaten or pursue bankruptcy or litigation, but to pursue consensual repayment. By creating a cloud of uncertainty over whether and when others will start the involuntary bankruptcy, the rating agencies and underwriters may not be willing to financing SCE even at the reduced rate set forth in the proposed bill. The 12 members of the Unofficial Committee that want to send this message want SCE to avoid a Bankruptcy and therefore are suggesting that the Legislature, if it passes AB 78X, may actually be making it more likely that a BK will ensue. Apparently, Doug Nichols at Portland General talked to Lisa Mellencamp about this and was told that Portland General should not be part of this low key, non threatening message. I would like to talk to you directly about this too. I want to make sure that Enron is not missing several opportunities here that will help Enron and others. Please give me a call sometime. I will be in Sacramento on Tues Sep 4, but will call you when and where you say. I asked Nelson to find out if you would be around to actively participate on a subcommittee of the Official Committee on SCE (Sempra and Powerex would be the other subcommittee members). Last time I put you on a subcommittee, on fees, you were too busy to participate. Please let me know if you really can be involved on this important subcommittee on SCE. thanks.
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