FYI.  I don't have a problem with this.  

Joe, who should  work with Christian to make sure that the details are 
"sufficient"?  

Jim

----- Forwarded by James D Steffes/NA/Enron on 11/20/2000 08:28 AM -----

	Christian Yoder@ECT
	11/16/2000 01:00 PM
		 
		 To: Richard B Sanders/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Mark E 
Haedicke/HOU/ECT@ECT
		 cc: Tim Belden/HOU/ECT@ECT, Greg Wolfe/HOU/ECT@ECT, Steve C 
Hall/PDX/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT
		 Subject: The soft price cap


Yesterday, we (Tim Belden, Greg Wolfe, Steve Hall , John Forney,  and a new 
regulatory person whose name I apologize for not remembering)  had a meeting 
to decide what practical legal steps we should take to mitigate any refund 
risk, particularly the risk of selling power above the price cap.  The result 
of the meeting was a decision  to (i) attempt on a case by case basis  to get 
our services customers to acknowledge,  in writing,  terms of allocating at 
least some of the  responsibility for price refunds, and (ii) create  a way  
to document our cost justification where we sell above the cap,  which will 
allow us to begin making the requisite filings to the FERC in January.  

 If  you  see  any compelling,   big picture reason(s)  for concern with the 
notion of selling above the cap,  please communicate it to us. ---cgy