---------------------- Forwarded by Scott Stoness/HOU/EES on 12/27/2000 12:31 
PM ---------------------------
From a former employee of New West, who is now an employee of Enron
To: Scott Stoness/HOU/EES@EES
cc:  
Subject: Re: CONFIDENTIAL: Notes from Meeting with California Stakeholders  

Scott,

New West had a fairly simple contract that went for 1, and 3 years, or until 
achievement of the CTC's.  

New West's primary goal was to get good at deregulation in California, then 
get important when Arizona opens (Phoenix based SRP is New West's parent 
company).  Arizona is still not there.   

In their contract New West had a regulatory out clause based on significant 
change, but I think it was pretty thin in this bail-out.  Most of the 
customers I talked to are having their attorneys look closely at the contract.