Bill,as requested,  I talked to Michael Tribolet last week and he felt that transactions under 1 year would be ok with PG&E Company . I would like to take the next step with them and assuming we get paper executed for ECC and ENA ( which is pending).... I want to give them TRADE ACCESS TO EOL.  

Cumulative unsecured exposure would be about $300,000/day. ( estimated ) and  I would try to get the payments from them to us made on the 5th business day vs the 25th business day following delivery. Our master will give us rights for reasonable financial assurances but not definative collateral threshold amount, infact we should keep this at zero for both sides until the air clears. 

All transactions will come through EOL and the products being sold by ENA, ECC will be cash or rest of month, AECO, Sumas, Malin or PG&E Citygate.

The bottom line on this is do we want to enter into Gas related cash transactions that increase of exposure on a receivables basis to PG&E.  Commercially, I believe they are someone we want to do business with and we can increase deal flow on EOL for some Canadian and U.S. products. I do not think we are in a position today to ask for pre-pays. 
 
Please advise if any questions otherwise I am seeking the GREEN Light from you to take the next step.

regards, BT