Mark and I met with Mark Haedicke regarding utilities and the need for a 
legal opinion from the utility counterparty.  We have agreed with Mark as 
follows:

1.  Our negotiations with investor owned utilities should be based upon our 
standard ISDA Schedule (ISDA Multicurrency Agreement) AND including the 
"Additional Termination Event".  Neither party should be required to provide 
a legal opinion.

2.  Investor owned utilites will be approved for online trading from a legal 
viewpoint.  The extra "Additional Termination Event" paragraph is not 
currently included in the GTC's but COULD be incorporated if there is a 
revision to the online agreement.

3.  Our position with respect to municipals/municipal owned utilities, 
federal/state/local owned utilities and cooperatives remains unchanged.  We 
should still utilize and update the "municipal ISDA" form, and, require a 
legal opinion from the counterparty.  In that regard, Susan Flynn has been 
working on an "omnibus" format for an electric co-op (Deseret Generation and 
Transmission Co-operative), an earlier version of which could be used as a 
template for a municipal omnibus confirmation.