Oops. My computer sent the message before I was finished.  I continue to hope 
that there is more opportunity than risk in this for us.  Price volatility is 
in the news like never before and our main product is price risk management.  
I know that the inquiries are up, I hope EES and ENA can get some sales out 
of it.  More utilities have been approaching TNPC, EES and ENA about taking 
over their merchant functions.  On the policy side, we are working the issue 
on both a state and federal level.  Whether this country does anything 
meaningful to deal with the current crisis comes donw to one person ... Linda 
Breathitt.  Ken Lay spoke with Secy Richardson and Sen Schumer about 
proposing rulemaking initiatives to FERC.  We are working the RTO process 
hard elsewhere in the country and coming up with messages to arm our 
remaining allies around the country.   THis is the biggest time for us on 
this issue since the very beginnings in California and New Hampshire.  In the 
current panic, however, we will be decimated if we are associated only with a 
move to keep price caps from going into effect (I saw your message to Mona).  
I am going to read the comments next, but I start off thinking we need to 
avoid running headlong into the price cap movement; we may be better off 
trying to co-opt the movement to get broader reform.

Hang in there.




Susan J Mara
08/11/2000 11:56 AM
To: Steven J Kean/HOU/EES@EES
cc:  
Subject: CA Price caps

I heard you've been raising a ruckus about our activities on the price caps 
-- asking us to do more.  Thanks.  I feel as if I have been a voice in the 
wilderness for the past six months when I was trying to get people to pay 
attention to the bad things happening in CA and warning that the problems 
(mainly a threat of reregulation) will spread elsewhere.