My understanding is that Shell can put them back to Calpine.   Remember, the deal was an all-requirements supply deal for all of Shell's retail obligations in ERCOT which are now zero.

 -----Original Message-----
From: 	Herndon, Rogers  
Sent:	Wednesday, September 05, 2001 8:05 AM
To:	Presto, Kevin M.; Gilbert-smith, Doug
Subject:	Shell Exits Retail Markets in OH and TX

Kevin/Doug

I am sure you saw this article y-day.  Very intereting.  I think TXU is succesfully driving retail players away from ERCOT.  I wonder what will happen with all of those Calpine MW?