Rick:

I guess you will have been reasonably pleased with the Commissions July 12th
Orders on the RTOs. It seems to be going down the same basic road we have
been discussing.

I guess there will now be a relatively short process to outline each of the
proposed mega-RTOs. While the Northeast RTO is most pinned down, the others
seem well up in the air. The Southeast RTO in particular seems to be
flailing a bit.

If you or any of your folks were keen I am very interested in the SE RTO and
Western RTO in particular. As they move beyond the usual groups of utility
guys sitting around a table it might be a good time to throw some economic
reality into the picture. Could be method for presenting some of the
thinking of the policy paper to the world?

Hope you had a good trip to London. Heard it has been very warm over there
(although not of course by Houston standards...)


Seabron




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Seabron Adamson
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