Rod

The curves are the intellectual property of the commercial desks, so provided they have no issues with their use "off the desk" then neither do I. In fact, since Portland is for now affiliated with Enron, and their business represents economic price risk, I would rather that risk were measured using consistent inputs. 

We can certainly help you with VAR models, process and calculations - let us know who on your "back office" side would be doing this and we can begin the education and implementation process.

Rgds
DP 

 -----Original Message-----
From: 	Bradford, William S.  
Sent:	Monday, April 02, 2001 8:08 AM
To:	Hayslett, Rod; Buy, Rick
Cc:	Port, David
Subject:	RE: Portland General

Rod,

David Port is probably best suited to address your first point.

In response to points #2 and #3, we have discussed with Bill Valach and his team their positions in California and continue to incorporate them in our overall corporate exposures reported to management.  We also continue to discuss with him the entire credit situation in the West and any actions ENA may take.  I will call Bill Valach to insure this dialogue continues given the current standing of the divestiture.

I hope this helps.

Bill


 -----Original Message-----
From: 	Hayslett, Rod  
Sent:	Friday, March 30, 2001 2:00 PM
To:	Buy, Rick; Bradford, William S.
Subject:	Portland General

Stan Horton, Mark Metz, Bob Butts, Rick Causey and Greg Whalley (the last 2 by phone) and myself sat through a 3 hour update of the business at Portland yesterday.    It appears that they will be with us for awhile yet.   They have 3 issues for you two.   In the time between now and the time Mark and Mitch get a new buyer to closing we have to make sure that they are doing what we want them to do.

1. They would like access again to Enron curves for both electric and gas for our use in calculating the VAR and for use in project economics such as small plant expansions or plant upgrades.  They will also need access to the VAR models.
2. Relative to the California exposure are they are your radar screen and whether they should be doing anything differently
than the current plan to collect our receivables, offsets etc.
3. They would also like to be included/linked in on any decisions on credit where they might change their views of counter parties or provide them some leverage for to get counter party agreements on credit.  (Bill has evidently had some discussion with Bill Valach, so you might already be comfortable with how this is working)  


Rod Hayslett
EB4054
713-853-6178