To make sure that Enron is not missing any opportunities to make our points 
on competition, we need to develop some key message points and facts.  

My understanding is that the key story line is that  "COMPETITION IS WORKING 
AND SHOULD BE PUSHED FORWARD".  
We need to be able to give examples of what is happening - deregulation 
customers are winning.  For example, our CSU customers are just fine even 
with higher energy markets.

I think that are some key questions that we need to consider when we put 
these together:

Who is the audience?  My answer - California policymakers, key stakeholders, 
FERC, federal government.

Can we use this in the FERC Investigation on Markets?  My answer - we have 
to; California is too big and important not realize that California will play 
a role in FERC's discussions.

What is the timing of message?  My answer - Wherever and whenever; needs to 
be coordinated.  This CA legislative process (next 2.5 weeks) may be a 
possibility.  FERC Investigation.  Taking the story nationally is good if we 
have the facts from CA.

Who will deliver the message?  My answer - Everyone on the Enron team needs 
to have the same message all of the time.  We can't let any opportunity pass 
us by.

Do we demonize the utilities?  My answer - if necessary; we just need to make 
sure that we have as many facts to prove our points if we do attack.

How do we prove that "rolling back" to regulation is ridiculous?  My answer - 
retain LEGC to develop the hypothetical of what would have happened?  NEEDS 
TO BE DISCUSSED INTERNALLY - LEGC MAY NOT BE THAT FRIENDLY.

Next Steps:  Jeff Dasovich needs to put out first cut based on our earlier 
notes and any incremental information from our analysis teams (e.g., TCA, 
McNally / Temple). 

Thanks,

Jim