Sounds like an interesting meeting.  SS


   
	
	
	From:  Chris H Foster                           02/08/2000 03:54 PM
	

To: Tracy Ngo/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Gaurav 
Babbar/HOU/ECT@ECT
cc: Ozzie Pagan/HOU/ECT@ECT 
Subject: Delano/Thermo Ecotek Meeting

The meeting with these guys will be on the 17th in Houston.  The agenda will 
be:

1)  Matching physical and financial:  what are the benefits and risks of 
separating the physical and financial components of a transaction?  What 
happens when your physical output volume differs from the swap volume?  Chris 
will handle this.

2)  Unit contingency insurance:  What is ENA doing with respect to offering 
this product to its clients?  How does thisreduce risk when a generator's 
physical volumes do not match the swap volumes?  Gaurav will be handling this.

3)  Review of the swap contract language with special focus on focusing on 
credit and how the Thermo Ecotek (or Thermo Electron) credit amount will be 
allocated to their individual generation subsidiaries.  Tracy and Sara will 
handle this.

I plan to start at 9:30 and be done at 12:00 noon.  Feel free to attend the 
entire meeting or just your part..  Also, we will go out to lunch thereafter 
and you are invited if you'd like.

Tracy has graciously volunteered to get us a conference room.

Sara/Guarav:  we will let you know the conference room number.

Thanks again!  Let's hope they don't cancel this time.

Chris