---------------------- Forwarded by Chris Stokley/HOU/ECT on 04/11/2001 12:11 PM ---------------------------
   

	Enron North America Corp.  From:  Chris Stokley                           04/03/2001 09:18 AM	
		


To:	bwilson@water.ca.gov
cc:	rdjones@water.ca.gov 
Subject:	CDWR DECEMBER PAYMENT

Betty,

	Stewart has asked that I send you an e-mail giving you the logic behind  the way in which EPMI arrived at the CDWR payments for December as they relate to the PX index.  EPMI made a payment for December sales to all of our Scheduling Coordinator clients equal to approximately 78% of what they would have received according to the PX hourly index.  This is the approximate methodology that the  PX  used in making its payments to their customers. If you have any questions in regards to this issue, feel free to call me at 503-464-8219.




								Chris Stokley