Term sheet looks fine.
As for gas pricing, it seems we'd be better off just settling per the
contract.
I'm OK with PG&E Topock, but I'm hopeful that either (i) it will prove to be
more valuable (closer to So Cal) in the future, or (ii) we can work with
PG&E to deliver it to So Cal somehow.

-ek

Eric R. Klinkner
Director of Power Supply
Pasadena Water and Power Department
626-744-4478 Voice
626-744-6432 Fax
eklinkner@ci.pasadena.ca.us


-----Original Message-----
From: Kim.Ward@enron.com [mailto:Kim.Ward@enron.com]
Sent: Tuesday, March 27, 2001 1:16 PM
To: eklinkner@ci.pasadena.ca.us; sendo@ci.pasadena.ca.us
Subject: April through August term sheet update


Guys,

Attached is the latest and greatest term sheet for April through August,
2001.  Please let me know if I have addressed all of the issues we
discussed.  If not, just let me know and I can fix it.

Also, for your KRS supply for April 1 -10, we are a Gas Daily minus $.50
bid.  For the 3500 fixed priced gas at the Border, we will pay Gas Daily
minus $.10.  Also, for the EPNG capacity delivered to PG&E Topock, our
fixed price bid is $2.10 plus variable.

Let me know what you think about these prices so I can get them in the
system if we agree.  Also, call me if you have any questions!

Thanks,

Kim

(See attached file: erics_april_2001_term_sheet.doc)