Looks good.  Is there a timeline on when FERC may act (or at least when the Audit) will be final?  Is this information confidential?  Should we be working the trade press?

Thanks,

Jim

 -----Original Message-----
From: 	Alvarez, Ray  
Sent:	Thursday, October 18, 2001 4:51 PM
To:	Kean, Steven J.; Shapiro, Richard; Robertson, Linda; Steffes, James D.; Nord, Sue; Nicolay, Christi L.; Comnes, Alan; Kaufman, Paul; Landwehr, Susan M.; Belden, Tim; Walton, Steve; Roan, Michael; Mara, Susan; Dasovich, Jeff; Cantrell, Rebecca W.; Lindberg, Susan; Yeung, Charles; Rodriquez, Andy; Davidson, Debra; Hall, Steve C. (Legal); Guerrero, Janel; Lawner, Leslie; Fulton, Donna; Allen, Phillip K.; Perrino, Dave; Black, Don; Frank, Robert; Miller, Stephanie; Tycholiz, Barry; Novosel, Sarah; Thome, Jennifer; Lindberg, Susan
Subject:	Conference Call Today with FERC Staff

A conference call was held today with FERC staffers to discuss items of interest or concern to us.  Participating for FERC were Bob Pease (enforcement att'y), Stuart Fisher (economist) and Bruce Poole (engineer).  Alan Comnes, Dave Perrino and I weighed in for Enron.  The laundry list of topics discussed is attached.  We expressed the sentiment that the root cause of all these issues and concerns is the current composition (and non-independence) of the ISO board, and suggested that the ISO board situation should be the subject of the upcoming FERC audit of ISO.  We went on to discuss the audit further and the fact that there is no established or formal comment process.  However, we were invited to file written comments with the Commission on what we thought should be audited, and Alan is taking the lead on this.  We will try to get others to sign on to the comments.  Some of the discussion items that the staff was highly interested in included:

	ISO request for a bid from us to prop up the price (staff requested a copy of the transcript).
	Any unexplained decreases in ATC (staff asked to be advised in real time).
	Information related to ISO OOM purchases (and whether they were declining).

All in all, it was a successful, informal call lasting about 40 minutes.  Staff was receptive to and agreed to receive periodic calls from us in the future.  This allows them to keep up with what is going on industry, and of course gives us an opportunity to educate and alert them on issues of interest to us.  Ray

 << File: audit points.doc >>