Bill -- My understanding was that Enron had satisfied PJM's credit requirements last week; however, below is a notice that the bill has not been paid and Enron will not be able to participate in PJM markets if the bill is not paid by 11/27 COB.
 
Please let us know if Gov't Affairs needs to call PJM to try to discuss this.  Christi 37007.

-----Original Message----- 
From: Hartsoe, Joe 
Sent: Wed 11/21/2001 9:20 AM 
To: Nicolay, Christi L.; Steffes, James D. 
Cc: Kean, Steven J.; Shapiro, Richard 
Subject: FW: NOTICE OF PJM OPERATING AGREEMENT BREACH - November 20th PAYMENT TO PJM IS OVERDUE



FYI 

-----Original Message----- 
From: daughes@pjm.com [<mailto:daughes@pjm.com>] 
Sent: Tuesday, November 20, 2001 8:43 PM 
To: bpitre@enron.com; jhartso@enron.com 
Cc: drausl@www1.pjm.com; lynchmr@www1.pjm.com 
Subject: NOTICE OF PJM OPERATING AGREEMENT BREACH - November 20th 
PAYMENT TO PJM IS OVERDUE 
Importance: High 


> This is your formal notice that PJM now considers your company in breach of 
> the PJM Operating Agreement for non-payment of your November 7, 2001 PJM 
> invoice by 1 p.m. today. In accordance with the current provisions of Section 
> 15.1.3 of PJM's Operating Agreement, you have three business days to rectify 
> this breach by making full payment to PJM. If this breach is not rectified by 
> the end of PJM's business day on Tuesday, November 27, 2001, PJM will declare 
> your company in default and terminate your rights to participate at PJM 
> committee meetings, to transact business in PJM's markets, and to receive 
> transmission service from PJM. Additionally, all PJM Members will receive a 
> list tomorrow of companies that did not pay their invoice for October activity 
> on the due date. 
> 
> If you have any questions regarding this notice or the amount your company 
> owes to PJM, please contact Molly Lynch at 610-666-8876 or Lisa Drauschak at 
> 610-666-4247. 
> 
> Suzanne Daugherty 
> Controller