FW: NYISO Letter of Guarantee

Jim/Harry -

I want to make sure this has hit your radar screen. Please contact Juan if you think we can be of any help in resolving this. As I understand it, they have given us until the end of the week.

Thanks,
Rogers

-----Original Message-----
From: Padron, Juan
Sent: Mon 11/26/2001 4:54 PM
To: Herndon, Rogers
Cc: Misra, Narsimha
Subject: NYISO Letter of Guarantee

Rogers,

I just had a conversation with Mike Mackles & Phil Gootee with NYISO's Credit Department regarding advise on updating our Letter of Guarantee. And, I learned that they have already talked to Enron Corp's Credit Department, Bill Bradford and Tracy Ngo. NYISO advised me to contact our credit department for details of their conversation. The overview that NYISO did give me was that our Letter of Guarantee needs to be replaced by the end of this week due to our downgrade of Credit Rating. We had $1.5 Million of Credit with NYISO, $1 Million for Energy and $0.5 for ICAP. That number will change significantly as our Physical Load increases within the next couple of months. Let us stay ontop of this issue, for it has significant impact on our business.

Juan