Speak of the devil.  Tino called, all full of optimism and questions.  They 
have pitched the DOE a deal in which Dennis builds three 50 Mw turbines on 
the Isleta, and a 7 mile power line to DOE's distribution lines.  The project 
will apparently be 100%debt financed, with DOE agreeing to pay a firm demand 
charge rate of between 8 and 9 cents/kwh.  That rate is supposedly high 
enough to service the debt on a 10 year amort. basis (remember, DOE can only 
sign 10 year contracts).  DOE is interested, says Tino, because of the 
redundant, dedicated facilities and enhanced reliability, and because Dennis 
and Tino pitched DOE on all the $$$$ DOE will make from the surplus power 
sales.  Dennis apparently pitched them a "share the upside" deal under which 
DOE keeps most of the revenue from surplus sales.  Tino showed DOE the July 
spot prices at 4 Corners, which Tino said included many days over $200/Mwh 
and they got all excited.  DOE has done a similar share the upside deal at 
one of its facilities in Calif. Tino says and they have occasionally come out 
net positive on elec. costs in some months so they like the approach.  Tino 
had two questions:
1.  Does TW have 30-40,000/d of permian capacity available starting sometime 
in 2001 or 2002?  (I realize we have probably answered this question about 5 
times, but lets do it again for him). 
2.  Is there someone at ENA Tino can talk to about a getting a quote for long 
term and/or short term power purchase prices for Four Corners delivery?   If 
he can get something the DOE thinks is a good price, they m ay just sell all 
the surplus power forward.  If not, they'll just hang on to it and sell it 
into the cash market in monthly and daily deals.  

Thanks.  DF