Steve:
 
Richard and I spoke with Bob Hansen yesterday to get status on the presentation pitch to you.  Bob said that he still needs to coordinate w/ Mary Jo on the accounting issue, but will have a presentation for you to look at by next Friday -- with price quotes scenarios depending on length of commodity deal and whether or not you participate in the pilot.  In addition, I've coordinated with Elliot Mainzer, Mike Curry and Michael Payne who will get you a quote for a 5 year REC term by week's end.
 
We should then set up a meeting to discuss the week of the 6th as a prelude to firming up the details and showing it to your boss.
 
Regards,
Stacey Bolton
Environmental Strategies
Enron Corp
713-853-9916 direct 
713-303-2632 cell 
sbolton@enron.com