Donnie,

Thank you for meeting with us last week.  The information you provided was
very useful.  We have the following additional questions regarding the
correlation of power curves and the related controls surrounding changes to
curve correlation factors:

   How are correlation factors (i.e., for "basis" or "secondary" curves)
   calculated?  Do the correlations typically change?  How often and how
   are they reviewed for accuracy?
   Do the factors change for delivery month (i.e., are they different in
   the short-term versus longer terms)?
   What approvals exist for changes to correlation factors by traders, if
   applicable?
   Do system controls exist to limit or prohibit changes to correlation
   factors?
   What other controls are in place to monitor or prohibit changes in
   correlation factors?
   What are the applicable correlations between the curves you provided?
   (If the correlations are difficult to provide, please let me know)

I am assuming that you would be the appropriate contact for these questions
since Stacey had referred us to you previously for overall curve
correlations.  However, if you are not the correct contact, please feel
free to call me at x56953 or e-mail me with the appropriate contact name.

Thank you for your assistance,

Jennifer
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