thanks, we have it covered

 -----Original Message-----
From: 	"Harry Olivar" <hao@quinnemanuel.com>@ENRON [mailto:IMCEANOTES-+22Harry+20Olivar+22+20+3Chao+40quinnemanuel+2Ecom+3E+40ENRON@ENRON.com] 
Sent:	Thursday, August 16, 2001 12:17 PM
To:	Sanders, Richard B.
Cc:	A William Urquhart; Kristen Bird
Subject:	Fwd: RE: Proposal re CalPX Methodologies

Richard - I saw you were copied on this and assume you and bankruptcy counsel are coordinating comments.  Please let me know if you need anything from us -

Harry
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Subject: RE: Proposal re CalPX Methodologies
Date: Wed, 15 Aug 2001 20:16:01 -0700
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In-Reply-To:

Attached is a copy of the Offer of Settlement that will be proposed by the
Official Committee of Participant Creditors in the chapter 11 case for the
California Power Exchange Corporation.

As FERC's July 25 Order requires Judge Birchman to make recommendations
regarding the amounts owed by each IOU to each Seller and to apply the
methodologies required to make these determinations, the Offer of Settlement
will have to be presented to Judge Birchman as part of the ongoing
proceedings, at the appropriate time.  In addition, the Offer of Settlement
will be presented to the bankruptcy court in CalPX's  chapter 11 case at or
about the same time it is presented to FERC.

We are forwarding the attached copy of the Offer of Settlement to you with
the understanding that it will not be distributed to any person or entity
other than the attorneys listed above and the appropriate business contacts
at their respective clients.  Our discussions regarding the Offer of
Settlement will be much more effective if we can prevent the Offer from
becoming generally available to the public, including to those who might
oppose the Offer, before it is actually filed.

Please review the attached copy of the Offer of Settlement and send me your
comments and suggestions.  We would like to have your support for the Offer.
Perhaps it would be most efficient for Ron Carroll to schedule a conference
call to discuss the Offer in more detail.  Please let me know.


 - FERC Proposal  Weg rev Aug 15 01.DOC << File: FERC Proposal  Weg rev Aug 15 01.DOC >>