Folks,

I thought it would be a good idea to  review what we discussed
yesterday, on August 23 in Folsom at the ISO, so there is no public
misunderstanding about our discussion, or our intent.

Yesterday's meeting at the ISO, at which WPTF had many of its members
who either have generation in the State, or import power into
California, was for market participants and the ISO to discuss how to
bring more order and price transparency to the ISO's out of market
calls.  WPTF had met on its own initiative several weeks before with
members from the California PX, and APX to identify a suitable product
that would satisfy the ISO's needs during or to avoid system
emergencies.  Also, we sought a matching service of parties willing to
sell into a super-peak firm energy market with those who are willing to
purchase.

APX and CalPX responded to our earlier discussions with specific product
proposals, and presented their proposals to the group at yesterday's
meeting.  The discussions which ensued during the course of that meeting
focused on how the ISO might utilize a product/service to reduce the
manpower requirements currently needed to satisfy its out of market
telephone calls, typically on short notice, and the interest on the part
of market participants to make bids into either the APX or CalPX's
proposed system for a super-peak firm-energy product.

There were no  commitments made by any party, simply a willingness to
work together to alleviate the problems associated with finding
sufficient electric power during high demand periods with greater
transparency, more participants, and greater market efficiency.

There was no discussion of commodity prices, price fixing, or bid
strategies.

Gary B. Ackerman