Presenters:  Pat Brennan and I attended the Virtual Power meeting this 
morning representing Regulatory.  Drew and Dari were there from law.  Drew 
led the presentation and covered the matrix/template that out study group 
submitted earlier.

Audience:  Rockey Storie, Kevin Hyatt, Bob Burleson in Houston.  Kent Miller 
and Tim Johanson in Omaha.

The material, presentation and discussion was well received and timely.  
Rockey indicated that, in a recent status meeting with Danny McCarty, Danny 
had asked if the commercial people were discussing their proposed deals with 
Law and Regulatory.  Rockey responded that there had been contact and 
discussion under way. 

As for the discussion, the audience easily and quickly picked up on the 
template format with most of the questions/comments focusing, as one might 
expect, on revenue/COS bottom line issues.  Pat was able to provide 
additional definition and comment to the group discussion and template 
display.

Dari led us through the "jurisdictional" issues regarding electric and gas 
service.  The abandonment of service concern that we expressed at the study 
group meetings was more or less put to bed when Marketing responded that, 
based on field operations input, turn-around time to stop a turbine, engage a 
different operation (e.g., run a compressor) could be accomplished in 1 -2 
hours.  "Gearbox" technology to shift operations is available.  We also 
touched on the jurisdictionality issue associated with the purchase of a 
compression service  - ala monetization.

Other concepts were brought up with regard to deal structure and financing 
alternatives but were tabled for the moment.  There was also a question, to 
be pursued, regarding air quality/permits using the engine to compress for 
natural gas service vs running a generator.

I really feel that the meeting was successful and appreciated in that, at the 
least, we were able to congeal much info on the matrix and facilitate what 
could have been a very lengthy discussion into a relatively brief meeting.  
Drew concluded by stating that the template should not be distributed outside 
ETS.  He suggested that, on a case-by-case basis, our study group of Legal 
and Regulatory personnel could quickly respond to case specific issues in a 
customized response that the commercial dealmaker could provide to their 
client(s).