Stan,

Thanks for the fax from Mike McGrath.  The only structure issue that I need
some further clarification on is electric retail vs. wholesale.  To the
extent GISB moves in the direction of retail gas standards, would we
consider the same split?  I must admit that it seems overly cautious in
terms of avoiding one sector driving another.  Balanced voting, super
majority rules, etc. would avoid the need for three or possibly four units
under the EISB umbrella.  Pipelines have been willing to live with other
segments having a voice in wholesale gas standards based on the balanced
structure and vote rights established when the organization was created.  If
you can shed more light on this I would appreciate your thoughts.

Ron