The purpose of this e.mail is just to advise you that we will start the 
process of completing two DASH's for two large projects totaling about $1.6 
billion.  The customer is Panda Energy/TECO.  

Subject to Board approval, we would like to sign a contract sometime between 
15 - 20 December.

We have just recently agreed to a price and are now entering into contract 
negotiations.  

We will immediately apply the "Risk Book Model" to these two projects; and we 
will begin working a DASH with the RAC group.  Because each of these 
contracts will total about $800MM, I wanted to give you a heads-up.  If we 
can achieve a contractual agreement with TECO and receive Enron Corporate 
approval, these could prove to be outstanding projects for NEPCO, because the 
two contracts are really the duplication of eight similar projects and doing 
them repetitively, should prove very profitable for NEPCO.

LI52100