Here's my list:

UK Power.  Address flaws in NETA through inter alia modifications to the 
Balancing and Settlement Code.  Value difficult to quantify, but very large 
given direct costs of high imbalance charges and resultant increase in the UK 
power curve.
UK Power.  Frustrate Ofgem's proposals for locational transmission charging 
which could cost Teesside Power up to o10m p.a. (from memory).
UK Rail.  Continue to prosecute the Competition Act complaint against EWS 
Railways.  This could reduce our rail charges by up to 25% and could create 
opportunities to grow the coal business in the UK further (eg, by unwinding 
existing long-term contracts)
UK Gas. Ofgem plan to move to hourly gas balancing which would represent a 
major risk/cost given our existing flexibility positions.  Objective is to 
shape these proposals to minimise this risk and delay/frustrate their 
introduction.
Spanish Gas/Power (Alfredo Huertas) - gas third party access for the Arcos 
project (don't know exact value, but John Sherriff has described this as his 
No. 1 priority at the moment)
Spanish Gas/Power (Alferdo Huertas) - removal of restrictions on financing 
structures on the Arcos project


I suggest the four of us work on a consolidated list when we have the 
individual lists.

Paul








Richard Shapiro@EES
11/05/2001 13:18
To: Doug Wood/LON/ECT@ECT, Paul Hennemeyer/LON/ECT@ECT, Peter 
Styles/LON/ECT@ECT, Paul Dawson/Govt. Affairs/LON/ECT@ECT
cc: Amber Keenan/LON/ECT@ECT 

Subject: European Priorities

Could each of you get me by next Friday( May 18,2001) a list of the top 5 
priorities for each of your respective areas....and, if, possible, a 
consensus document reflecting the top 8-10 priorities for the entire group? A 
brief description of each of the priorities would be appreciated with an 
attempt to quantify, where possible, the value associated with each of the 
priorities( either value potentially created or loss of value avoided). 
Thanks.