Please review attached letter to customers ASAP.  Make sure you copy Steve 
Hall on your comments.
---------------------- Forwarded by Mary Hain/HOU/ECT on 12/19/2000 08:35 AM 
---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  "Marcus Wood" <mwood@stoel.com>                           12/18/2000 
05:15 PM
	

To: Chris.H.Foster@enron.com, Steve.C.Hall@enron.com
cc: gfergus@brobeck.com, Christian.Yoder@enron.com, 
Mark.E.Haedicke@enron.com, Mary.Hain@enron.com, Richardsanders@enron.com 
Subject: Re: Draft letter to customers explaining refund risk


Steve

I attach the form of refund letter you sent, redlined with suggested 
revisions. One matter I have not addressed:  The letter is not explicit as to 
how any reduced amount from a resale of power will be allocated between 
Enron's and the customer's share of the resale revenue; if the underlying 
agreement is not clear on this point, an appropriate additional sentence 
might be added.

Today I spoke with Mr. Fergus, who asked me to send him a copy of the letter 
for his review and comment before it went out.   I also spoke with Mr. 
Haedicke, who instructed me to send him or Mr. Sanders an information of copy 
of materials I send to Mr. Fergus.  I thus have addressed copies of the 
redline to each of these individuals.

I will be out of town Tuesday (back Wednesday).  However, I request that you 
confirm whether Mr. Fergus has any reservations about the form of the letter.

 - Refund letter.doc