My feeling is we stand by our confirmation - what do you think?
----- Forwarded by Mark Taylor/HOU/ECT on 12/12/2000 07:02 PM -----

	Jeffrey T Hodge
	12/12/2000 04:45 PM
		 
		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Scott Neal/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, William 
Kelly/HOU/ECT@ECT
		 Subject: Conectiv / Delmarva

Mark:

This falls into your area.  I have spoke to William Kelly and advised that I 
am forwarding it to you.

Thanks,

Jeff
----- Forwarded by Jeffrey T Hodge/HOU/ECT on 12/12/2000 04:43 PM -----

	William Kelly
	12/12/2000 04:20 PM
		 
		 To: Jeffrey T Hodge/HOU/ECT@ECT
		 cc: Scott Neal/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT
		 Subject: Conectiv / Delmarva

On January 14, 2000, we transacted with Conective via NatSource for a Nov '00 
- March '01 basis swap @ Transco Z6.  Our ticket/booking/confirmation 
indicates we bought the swap.  The broker confirm indicates we sold the 
swap.  Our confirm to the counterparty was executed as Enron buying by their 
operations manager, Joseph Glace.  The counterparty is contending that the 
broker confirm is correct.  Trading contends our confirm is correct and 
binding.  How should we proceed?  The value of the position is roughly $3MM 
of revenue.

Thanks,

WK