CES has a synthetic storage deal with Equitable Gas Company on Texas 
Eastern.  CES gave Equitable 100,000 dth in April 1999 and Equitable is 
giving CES the gas back in January 2000 in Tetco M2.  According to my new 
best buddy Fred at Equitable, CES will pay Equitable $.65 /dth after the 
January transaction is complete.

Here are my questions/comments;

1.  David - please look at the new deal I created for this exchange (deal 
146788).  The existing deal (deal 138741) is set up as a pipeline exchange.  
I believe the counterparty should be Equitable Gas Company which is the LDC.  
If it looks OK to you, I will kill the old deal and add the volumes to the 
new deal.  Please let me know ASAP.

2.  Linda/David - do we have CES's contract with Equitable?  I would like to 
see a) what CES was paying Equitable for this deal and b) when the payment 
was due.

3.  David/Stephanie - if the deal is structured the way Fred described it 
above, where do we put the $.65 fee at?

4.  Linda - Fred has not received any assignment notices regarding CES 
deals.  He doesn't know if he should bill CES or Enron North America.  Who 
should he talk to about that??


Please forward this email to others that may need to see it.

Thanks