Ron and Seabron - thank you for responding so quickly and putting together 
such a good product.  I would suggest only the following additions:  I would 
mention that the Commission should also require simplified interconnections 
and encourage faster certification of generation.  You simply touch on 
hedging, I would explain why, given that they had the  opportunity, it would 
have been prudent (with a simple example like how going to the spot market 
and then asking for a price cap is like day trading your retirement and then 
asking for legislation requiring a minimum price or something like that).  I 
really like the gas industry discussion.  Seabron, can you verify the 20 
loads and 40 gens - that was just a number Tim Belden through out (although 
he should know)?  If you send me another version tomorrow, fax it to me at 
the Ritz Carlton at Tysons Corner, I'll be in the Consulate Room from 9-11.  
After that, call me on my cell phone at 503-807-0929.  
---------------------- Forwarded by Mary Hain/HOU/ECT on 09/11/2000 08:55 PM 
---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  "Ronald Carroll" <rcarroll@bracepatt.com>                           
09/11/2000 03:57 PM
	

To: "Andrea Settanni" <asettanni@bracepatt.com>, "Jeffrey Watkiss" 
<dwatkiss@bracepatt.com>, "Kimberly Curry" <kcurry@bracepatt.com>, "Nancy 
Pickover" <npickover@bracepatt.com>, <Christi.L.Nicolay@enron.com>, 
<mary.hain@enron.com>, <smara@enron.com>, <snovose@enron.com>, 
<seabron.adamson@frontier-economics.com>
cc:  
Subject: Protest ot CalPX Price Cap Filing


The attached is a first draft that I wanted to get out today since it must be 
filed tomorrow (Tuesday, Sept. 12).  I have not had a chance to review it so 
it may be rough in parts.  Please give me your comments ASAP.  Thanks.

Thanks also to all who contributed to turning this around so quickly.  Ron

 - 0130864.01