Some comments from Tim on the outline

Because the prices are based on L3Day NYMEX prices, when two out of three 
prices have already been posted, it is impossible for parties to hedge their 
risk for November.  [For your information but not for the filing - We have a 
big position for November so we need to get this pushed off until December or 
we could lose alot of money].
By basing the caps on heat rates from 1999, the ISO assumed that this was the 
proper test period.  This is not a good test year given that generators lost 
alot of money in 1999.


From: James D Steffes@ENRON on 10/27/2000 11:09 AM CDT
To: dwatkiss@bracepatt.com, dexickson@mwe.com, Joe Hartsoe/Corp/Enron@ENRON, 
Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Mary 
Hain/HOU/ECT@ECT, Susan J Mara/SFO/EES@EES, Jeff Dasovich/NA/Enron@Enron
cc:  
Subject: Pleading to Stop ISO

Here is the outline of some points to make in the filing today.