In order to minimize credit risk, I would rather keep all trades under one 
document.  The cleanest way would be to amend the ISDA to a multicurrency so 
that we can do cross border trades, right?



From: Tana Jones on 12/08/2000 09:56 AM
To: Tanya Rohauer/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT
cc:  
Subject: Re: Southern

Any thoughts on how you would like to approach this?
----- Forwarded by Tana Jones/HOU/ECT on 12/08/2000 09:53 AM -----

	Chris Gaffney
	12/08/2000 09:46 AM
		
		 To: Tana Jones/HOU/ECT@ECT
		 cc: Jan Wilson/TOR/ECT@ECT
		 Subject: Re: Southern

Tana - Thank you for your prompt response.  Given that we have precedents 
between Enron and Southern do you think it would be a simple process to get a 
separate ISDA in place between Enron Canada and a Southern entity or do you 
think it would be easier to amend the existing to add the necessary 
provisions, add the provisions into the confirmation, or replace the existing 
with a Multicurrency Agreement?

CJG



	Tana Jones
	12/08/2000 10:37 AM
		
		 To: Chris Gaffney/TOR/ECT@ECT
		 cc: 
		 Subject: Re: Southern

We have an ISDA Master Agreement (Local Currency-Single Jurisdiction) in 
place with between ENA and Southern Company Energy Marketing L.P.  I am a 
little concerned if Canada wants to trade under this pursuant to the Services 
Agreement.  Being a Local Currency-Single Jurisdiction form, it does not have 
tax and currency provisions that would enable us to do a cross border trade.  
If you would like to do trades under this, we might want to consider amending 
it to add the necessary provisions, adding the provisions into the 
confirmation, or replacing it with a Multicurrency Agreement.



	Chris Gaffney
	12/08/2000 09:24 AM
		
		 To: Tana Jones/HOU/ECT@ECT
		 cc: 
		 Subject: Re: Southern

Southern Company or Southern Energy North America, Inc. or another trading 
arm of Southern Company.  The reason I ask is because Southern wants to do 
some deals with us in Ontario and I wanted to know if we have already 
negotiated ISDAs with them.  

thanks
CJG



	Tana Jones
	12/08/2000 10:17 AM
		
		 To: Chris Gaffney/TOR/ECT@ECT
		 cc: 
		 Subject: Re: Southern

We have lots of ISDA's in place with "Southerns", "Southern" who?



	Chris Gaffney
	12/08/2000 09:09 AM
		 
		 To: Tana Jones/HOU/ECT@ECT
		 cc: 
		 Subject: Southern

Tana - Do we have any ISDAs in place with Southern?

CJG