Dave:
I spoke with Mark about the Federal law issue and we both feel that our 
exposure is no greater than what it would be if we traded over the phone with 
this counterparty.  Because they are a federal agency, there is no way around 
this issue other than to not permit them to trade with us online.
Carol




	David Forster@ENRON
	05/12/2000 01:16 PM
		
		 To: Carol St Clair/HOU/ECT@ECT
		 cc: Mark Taylor/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 Subject: Re: Bonneville Power Administration


Carol,

- Do we really want to accept arbitration in Portland?
- What is our exposure to Federal Law?

Dave



   Carol St Clair @ ECT                05/11/2000 10:05 AM

To: David Forster/Corp/Enron@Enron
cc: Mark Taylor/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT 

Subject: Bonneville Power Administration

David:
Enclosed for your review is a draft amendment letter for the above 
counterparty.  All of the requested chnages are driven by the fact that BPA 
is a federal agency.  I look forward to hearing from you.
Carol