We are going to open San Diego Gas & Electric to transact the following 
financial products, but are going to limit the length of the trades to 3 
months or less.  The approved products per the Master Agreement are any 
"swap, cap, floor, collar or option...based on the prices of crude oil, 
petroleum products, natural gas, or electric power...".

I have previously not distributed the executed Master Agreement because of 
unresolved issues with the counterparty, but will send copies today to the 
usual distribution.  We have an executed Master Energy Price Swap Agreement 
in place between ECT and the counterparty dated as of February 25, 1997.  All 
financial trades for this counterparty should go under the master.