Attached is a revised Western Grid Market Forecast for May 22, 2001.

The table for 2001 Northwest hydro generation on page 5 has been corrected.
The numbers in the report sent earlier today were off by one month for
April - December. We apologize for any inconvenience this may have caused
you.

Please direct questions regarding this report to Victoria Watkins, Morris
Greenberg, Allan Stewart or Alastair Stevenson at (212) 686-6808.

Please contact John Graziano regarding PIRA report distribution at ext. 341.

NOTE: Circulation of the "Western Grid Service" outside a Client's licensed
distribution area is strictly prohibited. Copyright compliance is enforced.
Clients that are unsure of their licensed distribution or require an
extension of their current license should contact their PIRA sales
representative, or email to sales@pira.com.

PIRA Electricity Group



 - westmay01.pdf