Rick:

Please find attached a short memo regarding last week's call with Jim and
the Enron RTO team. It also has some thoughts on what we might cover with
Steve K. at 2:00 p.m. CDT today.

Some other time I would like to have a quick chat about how we move to the
next step with the RTOs. It strikes me that there has been a real absence of
cleare-headed thinking in the stakeholder chin-wagging sessions. If FERC
will not impose a single design - on an abbreviated timeframe - is there
another way to add some economic logic into the equation?


Speak to you later...

Seabron

This e-mail, and any attachments thereto, is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
copying of this e-mail, and any attachments thereto, is strictly prohibited.
If you have received this e-mail in error, please immediately notify me at
(617) 354-0060 and permanently delete the original and any copy of any
e-mail and any printout thereof.


Seabron Adamson
Frontier Economics Inc
Two Brattle Square
Cambridge, MA 02138 USA
Ph:  (617) 354-0060
Fax: (617) 354-0640
seabron.adamson@frontier-economics.com


 - 01-05-21 SA Memo to Rick Shapiro on RTO conference call.doc