----- Forwarded by Tana Jones/HOU/ECT on 01/24/2001 09:11 AM -----

	Robert Bruce@ENRON
	Sent by: Robert Bruce@ENRON
	01/23/2001 06:00 PM
		
		 To: Tana Jones/HOU/ECT@ECT
		 cc: 
		 Subject: Re: Public Service Company of New Mexico

Tana, PSC is in the process of merging with Western Resources, a Topeka, 
Kan.-based IOU with which we signed a very heavily negotiated ISDA master 
late last year.  When we send the draft of ISDA out, I think we should 
consider sending out  the version signed by Western Resources and tell them 
it is the same document that their soon-to-be sister company already has in 
place with us.

FYI, according to PSC's website, when the merger is complete, PSC and Western 
Resources will both be owned by a newly created holding company.  This may be 
of interest to credit.  -- Bob


Robert E. Bruce
Senior Counsel
Enron North America Corp.
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com



	Tana Jones@ECT
	01/23/2001 05:00 PM
		 
		 To: Brent Hendry/NA/Enron@Enron, Sara Shackleton/HOU/ECT@ECT, Mark 
Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, 
Mary Cook/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Robert 
Bruce/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron, Frank 
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cheryl Nelson/NA/Enron@Enron, 
Francisco Pinto Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marilyn 
Colbert/HOU/ECT@ECT, Diane Ellstrom/HOU/ECT@ECT, Lynn E Shivers/LON/ECT@ECT, 
Bill D Hare/HOU/ECT@ect, Leslie Reeves/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT, 
Dianne Seib/CAL/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Anthony 
Campos/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Mary G 
Gosnell/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, 
Frank L Davis/HOU/ECT@ECT, Carrie Southard/LON/ECT@ECT, Amber 
Ebow/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON, Melissa Ann 
Murphy/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT, 
Georgi Landau/NA/Enron@ENRON, Cheryl Johnson/Corp/Enron@Enron, William S 
Bradford/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Tanya 
Rohauer/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, Lesli 
Campbell/HOU/ECT@ECT, Veronica Espinoza/Corp/Enron@ENRON, Paul 
Radous/Corp/Enron@ENRON, Wendi LeBrocq/Corp/Enron@Enron, Russell 
Diamond/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Edward Sacks/Corp/Enron@Enron, 
Nidia Mendoza/HOU/ECT@ECT, Bradley Diebner/Enron@EnronXGate, Wendy 
Conwell/NA/Enron@ENRON, Darren Vanek/NA/Enron@Enron, Rudwell 
Johnson/NA/Enron@ENRON
		 cc: 
		 Subject: Public Service Company of New Mexico

At the request of Darren Vanek in Credit, we have done some preliminary due 
diligence regarding the ability of The Public Service Company of New Mexico 
to enter into financial transactions.  Based on our conversations with them 
and review of their Board Resolution, it appears:

1.  They are an investor owned utility, not a governmental entity
2.  Their Board Resolution ONLY approves electricity futures, options or 
swaps, and gas or oil futures, options or swaps.  
3.  THEY CANNOT ENTER INTO FINANCIAL TRANSACTIONS OVER 18 MONTHS.  It is 
imperative that anyone trading with this counterparty be made aware of this 
restriction

Please call me if you have any questions.