WAPA ISDA Request

Sara -

I would like to discuss with you a potential opportunity at WAPA Sierra
Nevada. We have just sent them an EEI and would like you to send them an
ISDA. Basically in the near future they might find themselves quite short
due to a PG&E contract being invalidated. If that happens they will either:

1. Buy physical power from the market (use our EEI)
2.Do a financial swap with the market and continue to do the physical index
with PG&E (there are some reasons for this which I am not 100% sure on).

The lawyer we have dealt with is Koji Kawamura and his email address is:

kawamura@wapa.gov

Thanks for your help - If you have any questions please let me know.

Stewart Rosman