Attached is the updated exposure report for California.  There are four 
spreadsheets: 1) PG&E Corp and affilate exposure, 2) Edison International and 
affiliate exopsure, 3) CAISO and Cal PX exposure, and 4) Enron business unit 
combined CA exposure.  We are continuing to make progress on the mitigation 
of PG&E non-regulated exposures.  Please give me a call if you have any 
specific questions on the numbers.

Bill 
3-3831

Please note:
The numbers for the PX Credit have increased based on a more complete 
valuation.  
The P/X Credit MTM exposures are not netted against EES payables of T&D (with 
netting there would be an estimated $200mm reduction in PX Credit exposure)
All MTM numbers are valued at the Mid Curves.
Enron Wind numbers are being reviewed.
Portland General, ISO and PX exposures are estimates from last week and need 
to be updated.
 

---------------------- Forwarded by William S Bradford/HOU/ECT on 01/18/2001 
06:26 PM ---------------------------
   


From:  Wendy Conwell @ ENRON                                                  
           01/18/2001 07:23 PM	
	
	
	                           
	

To: William S Bradford/HOU/ECT@ECT
cc:  
Subject: California Exposure Table

Per your request attached is the latest California Exposure Report.



Wendy