Great news and congrats!




Robert Hemstock@ECT
11/26/2000 01:19 AM
To: Richard Shapiro/NA/Enron@Enron
cc: Aleck Dadson/TOR/ECT@ECT 

Subject: Update - Proposed Alberta Power Pool Rule Changes

Rick,

You will recall Steve Kean participated in a conference call on Nov 14 with 
John Lavorato et al to discuss emergency Pool Rule changes that the Power 
Pool intended to implement in two days.  We developed a 5 point action plan 
to deal with the proposed Power Pool rule changes that would have a 
significant impact on the value of Enron's PPA investment in Alberta.    
By way of update to Steve, you may wish to brief him that: 1) It appears the 
Power Pool will not proceed with the rule change designed to exclude 
importers from setting pool price.  They will proceed with dispatch risk rule 
changes but we have given input on those too and I am optimistic that Enron 
will be able to live with these rule changes, the final wording of which we 
should see on Monday, 2) We  have set up a meeting with the Minister of 
Resource Development (you, Rob Milnthorp and I will attend) on December 11 to 
encourage the Alberta Government to stay the course, and 3) This week we will 
finalize our "Lessons from other Jurisdictions" document (that Steve sent me 
materials to include in) and will provide it to the Alberta Government and 
Power Pool and then follow up with them.  


---------------------- Forwarded by Robert Hemstock/CAL/ECT on 11/25/2000 
11:52 PM ---------------------------


Robert Hemstock
11/25/2000 11:53 PM
To: Rob Milnthorp/CAL/ECT@ECT, Derek Davies/CAL/ECT@ECT, John 
Zufferli/CAL/ECT@ECT, Peter Keohane/CAL/ECT@ECT, Tim Belden/HOU/ECT@ECT
cc: aleck.trawick@blakes.com, dpef@blakes.com, Aleck Dadson/TOR/ECT@ECT 
Subject: Update - Proposed Alberta Power Pool Rule Changes

The attached memo provides an update on the status of the Power Pool's 
further consideration of the proposed rule changes.  In summary, it appears 
the Pool will not proceed with the proposal to exclude import offers from 
setting pool price but will recommend a rule that reduces ability of 
suppliers to become price takers on volumes that were originally priced too 
high to clear the merit order.  I will receive more specifics on the dispatch 
risk rule change on Monday.

Regards,

Rob