----- Forwarded by Richard B Sanders/HOU/ECT on 10/24/2000 08:00 AM -----

	Christian Yoder
	10/20/2000 04:28 PM
		 
		 To: Elizabeth Sager/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
		 cc: 
		 Subject: ISO

CONFIDENTIAL
ATTORNEY CLIENT PRIVILEGE


Richard and Elizabeth:  
While I was away on vacation, Steve Hall included this statement in a status 
report to me;  

" >While you were gone I learned a new one from Smith Day, which involves 
submitting bids for less than one MW, i.e., .0005 MW.  Because of a glitch in 
the ISO's rounding system, the MW get rounded down, but the payment gets 
rounded up.  Playing this game is worth about $9000/day. "

9,000 X 365 = 3,250,000.

Let's discuss.  ----cgy