Let's use EPSA.

Jim





Susan J Mara
05/14/2001 05:00 PM
To: rcarroll@bracepatt.com, Richard B Sanders/HOU/ECT@ECT, Christian 
Yoder/HOU/ECT@ECT, gfergus@brobeck.com, James D Steffes/NA/Enron@Enron, 
jklauber@llgm.com, Jeff Dasovich/NA/Enron@Enron, Steve C Hall/PDX/ECT@ECT, 
Michael Tribolet/ENRON@enronXgate, Tim Belden/Enron@EnronXGate, Tracy 
Ngo/Enron@EnronXGate, Christi L Nicolay/HOU/ECT@ECT
cc: Ray Alvarez/NA/Enron@ENRON, Alan Comnes/Enron@EnronXGate 

Subject: ISO Compliance Filing on Credit May Need Protest

On May 11, the CA ISO made a "compliance filing" for the April 6 order on 
credit worthiness in the real-time market.  Whereas the FERC order REQUIRED 
the ISO to get creditworthy parties -- the ISO portrayed it as an obligation 
of the buying party.  Therefore, the ISO's letter says that the ONLY party to 
come forward to provide credit support was DWR -- and because of DWR's 
"fiduciary obligation to conserve the finite resources that have been placed 
at its disposal", DWR REQUIRED access to the ISO's control room floor and 
non-public data.  This is outrageous and just shows that the ISO has, in 
effect, become a state-run, vertically-integrated utility. Question -- do we 
want to protest this? Or sit by and see what the generators do? If we want to 
comment, it would be due June 1.

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854