Attached is a summary of FERC Staff,s November 1, 2000 report on its 
investigation of the Northeast region.  The report is very encouraging 
because it is comprehensive and recommends many of the changes and solutions 
that Enron has been advocating for years.  The report is also encouraging 
because it indicates a significant level of understanding of the northeast 
markets (and the problems in these markets) by the FERC people who worked on 
this report.  Because this is only a brief summary, the entire report 
(particularly sections 4 and 5) should be read in detail.  A copy of the 
report is attached.

Please let us know if you have any questions or comments.

Sarah