We have another opportunity to sell to DWR.  I have been in discussions with Ray Hart of DWR and Ron Nichols, their consultant. We are closing in on a structure that has less upfront risk for Enron with a larger overall short position in the back.  They want to move to contract negotiations next week.  I would appreciate your input.  I will arrange a conference call with the legal and credit teams for Monday to review the status of our EEI contract and the requirements for this potential deal.  Notional terms:

NP-15
Peak

Q301:		100MW
Q401:		100MW
Q102:		150MW
Q202:		200MW
Q302:		250MW
Q402:		300MW
1/03-12/06:	300MW

approx 6MM PV MWhrs
price: $85/MWh