Kim-
This is true.  The master agreement would apply only in the event we would
be buying gas from Enron on a long-term basis.  Typically, Nova and ANG
would have your company assign the capacity to SMUD on their contracts.
Same with PGT on the capacity release mechanism.  Calvin

-----Original Message-----
From: Kim.Ward@enron.com [mailto:Kim.Ward@enron.com]
Sent: Thursday, March 08, 2001 6:20 AM
To: cmiller@smud.org
Subject: Re:



Calvin,

I was thinking last night, if we were to come to terms on the pgt capacity
sale to you guys and you were willing to prepay, it wouldn't matter if we
had that master firm gas agreement in place.  Basically, you guys would
have the capacity, we would get paid upfront and everything wuld be done.

Kim