The Transaction must get papered whether its GTC's or a Deemed ISDA.  The 
convention in the physical world (as I understand it) is that the seller 
sends its paper.  SS




Tanya Rohauer
03/09/2000 12:29 PM
To: Tracy Ngo/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT 
Subject: New York State Electric & Gas Corporation ("NYSEG")

Tracy - since I 'm in class today and tomorrow will you find out what John's 
up to and circle back with Sara?  The deal should be papered as ENA.  Sara, I 
cannot imagine why we need a Deemed ISDA for a two day deal....if John 
indicates plans for additional deals, we may want to pursue, but I don't 
think its necessary at this point.
---------------------- Forwarded by Tanya Rohauer/HOU/ECT on 03/09/2000 12:27 
PM ---------------------------


Sara Shackleton
03/09/2000 11:37 AM
To: Tanya Rohauer/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT
cc:  
Subject: New York State Electric & Gas Corporation ("NYSEG")

John Suarez entered into a 2-day swap with NYSEG papered with NYSEG'S "deemed 
ISDA" which I am reviewing.  Are we confirming financial in the name of 
EPMI?  Do you want to pursue the ISDA?  Tanya, are you still the credit 
person for this electric utility?  Is anyone speaking with these traders?  SS