fyi - we have right to terminate EEMC power positions assumed by EPMI and 
have been letting them know that we might exercise this termination right if  
they don't help us on the collateral issues.
----- Forwarded by Elizabeth Sager/HOU/ECT on 01/22/2001 04:49 PM -----

	"Meier, Peter" <peter.meier@neg.pge.com>
	01/22/2001 04:19 PM
		 
		 To: "'Lisa.Mellencamp@enron.com'" <Lisa.Mellencamp@enron.com>, 
"'wbradfo@enron.com'" <wbradfo@enron.com>
		 cc: "'carol.st.clair@enron.com'" <carol.st.clair@enron.com>, 
"'elizabeth.sager@enron.com'" <elizabeth.sager@enron.com>, 
"'mary.cook@enron.com'" <mary.cook@enron.com>, "Barpoulis, Sarah" 
<sarah.barpoulis@neg.pge.com>, "Hein, Jennifer" <jennifer.hein@neg.pge.com>, 
"Sarti, Daniel" <daniel.sarti@neg.pge.com>, "Fudali, Kathy" 
<kathy.fudali@neg.pge.com>
		 Subject: RE: FW: PGE NETTING


Lisa and Bill:

Despite all of our hard work, 5 pm central is 45 minutes away.  We would
like the forbearance letter extended.  I repeat our request for an
"evergreen" forbearane (i.e., forbearance continues in effect, subject to
termination on one days notice), but in any event need a sufficient number
of days to keep the momentum going forward.  Please confirm by return e-mail
your response, with faxed copies of reissued letters to follow immediately.

With respect to the Netting Agreement, I am reviewing, and need to talk to
Lisa.
-----Original Message-----
From: Lisa.Mellencamp@enron.com [mailto:Lisa.Mellencamp@enron.com]
Sent: Monday, January 22, 2001 11:53 AM
To: peter.meier@neg.pge.com
Cc: 'carol.st.clair@enron.com'; 'elizabeth.sager@enron.com';
'lisa.mellencamp@enron.com'; 'mary.cook@enron.com'
Subject: Re: FW: PGE NETTING



i thought ceg was out for regulatory issues??
Lisa J. Mellencamp
Enron North America Corp. - Legal
1400 Smith St.
Houston, TX  77002
Tel:  (713) 853-7986
Fax: (713) 646-3393
E-mail:  Lisa.Mellencamp@enron.com




                    "Meier, Peter"

                    <peter.meier@ne        To:
"'lisa.mellencamp@enron.com'" <lisa.mellencamp@enron.com>,
                    g.pge.com>             "'elizabeth.sager@enron.com'"
<elizabeth.sager@enron.com>,
                                           "'mary.cook@enron.com'"
<mary.cook@enron.com>,
                    01/22/2001             "'carol.st.clair@enron.com'"
<carol.st.clair@enron.com>
                    10:49 AM               cc:

                                           Subject:     FW: PGE NETTING







Per my voice mail, in addition to other changes we are discussing, I would
like to modify PG&E Affiliate and Enron Afiliate to mean affiliates who are
party to an Underlying Master Agreement, and expressly recognize that PG&E
Gas Transmission, Northwest Corporation is not a PG&E Affiliate.  These
additions are shown blacklined in the first attachment to this e-mail.
Also,
add to signature block of the Netting Agreement and to the coverage of the
Guarantee our affiliate CEG Energy Options Inc.   Thanks, Peter

cell phone 301-502-1715

-----Original Message-----
From: Mary.Cook@enron.com [mailto:Mary.Cook@enron.com]
Sent: Saturday, January 20, 2001 2:37 PM
To: Lisa.Mellencamp@enron.com; peter.meier@neg.pge.com;
Elizabeth.Sager@enron.com; Carol.St.Clair@enron.com
Cc: Travis.McCullough@enron.com
Subject: PGE NETTING


Attached is the revised netting agreement based upon certain PGE comments.

(See attached file: PG&E MASTER NETTING AGREEMENT 1-20COOKRED.DOC)(See
attached file: PG&E Master Netting Agreement 1-20cook.doc)


Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com



PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility.  Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission.  Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.

(See attached file: PG&E MASTER NETTING AGREEMENT 1-20COOKRED.DOC)
(See attached file: PG&E Master Netting Agreement 1-20cook.doc)