Here's another set -- sorry for the delay, had to take a phone  call.
?
Karen -- John Howard from the Orange County Register called,  and I just 
tried to call him back.? He's doing a set up story on the  hearing, so you 
may be getting a call from him.
?

?

Outside of a wind power facility in California and co-generation plant in  
Nevada, both of which are committed to long-term contracts, Enron is not a  
generator. It is a trading company that seeks to increase efficiency in the  
marketplace and has no assets that can be used to build a market power 
position.  It is impossible to argue that sales representing just a few 
percentage points  of California,s power needs equate to "market power."

Enron has consistently worked to bring choice and stable electric rates to  
California consumers, but has largely been thwarted by policy decisions made 
by  the Legislature and PUC. It is ironic that we are now portrayed as the 
villains  of a marketplace gone awry. The resources of this committee should 
be used to  find answers to restructuring,s problems rather than to shift 
blame to  politically appealing targets.

Enron is more than willing to participate in a procedure that fairly and  
appropriately examines the true causes of California,s energy crisis. 
However,  we cannot participate in a fishing expedition that broadly asks for 
confidential  documents ) whose release would breach agreements with our 
customers ) yet fails  to provide any sanctions for those who may release 
them to the public. 

While we do not have anything to hide, we must protect our customers,  
interests. Without sanctions and protections, it is a foregone conclusion 
that  confidential documents given to the committee will find their way to 
the press  and be distributed in a selective manner that fails to tell the 
whole  story.