Thanks for your help on this issue. Don't do anything with this until we contact with a  resolution. 


							Chris

 -----Original Message-----
From: 	Clemons, Amy  
Sent:	Tuesday, May 08, 2001 4:53 PM
To:	Stokley, Chris
Subject:	El Paso Dec Calif. PX Shortfall - never received

The Following invoice was sent in February to collect for the California PX Shortfall - entered as an annuity Deal #508664.1

 << File: El Paso Invoice for shortfall.xls >> 

El Paso should have paid $889,898.71 to Enron atleast by the 2/5/01 (since invoice was sent on Feb 2nd to be paid on receipt).

As of 5/8/01, they are 93 days late.

According to their WSPP contract the interest rate is 1% per month prorated until paid.

El Paso needs to then pay the original $889,898.71 + $27,208.65 in interest.(see below for calculation of interest)
		1% x 12 months = interest for a year = 12%
		12% / 365 days = interest for a day   = .0329%
	          .0329% x 93days    = proration of interest for 2/5-5/8 = 3.0575%
	$889,898.71 x 3.0575%   = interest due to Enron for late pay = $27,208.65	

Let me know if I need to call my contact at El Paso about this late payment or if you want to call her.  In case you do, it's Kathy Peterson (915) 543-2039.

Then,  let me know whether you want me to send an invoice for the interest.  Either way I need to collect the $889,898.71 - since it's sitting on my Accounts Receiveable - flagged as past due. - so just let me know what I need to do and how you want to handle this.

Thanks so much and let me know if you need anymore information. - Amy