Let's meet at Christi's desk on ebS5 and find a conference room.

Jim

 -----Original Message-----
From: 	Sacks, Edward  
Sent:	Wednesday, December 12, 2001 1:48 PM
To:	Steffes, James D.; Nettelton, Marcus; Nicolay, Christi L.
Subject:	RE: ISO Calculation

Please let me know where we are meeting if everyone plans on attending.

Ed

 -----Original Message-----
From: 	Steffes, James D.  
Sent:	Wednesday, December 12, 2001 1:30 PM
To:	Sacks, Edward; Nettelton, Marcus; Nicolay, Christi L.
Subject:	RE: ISO Calculation

Can we get together this afternoon to discuss calling NEPOOL?  How about 3pm?

Jim

 -----Original Message-----
From: 	Sacks, Edward  
Sent:	Wednesday, December 12, 2001 1:19 PM
To:	Nettelton, Marcus; Steffes, James D.
Subject:	ISO Calculation

It appears that the calculation and collateral call is pretty accurate.  Basically, EPMI had made significant purchases from the New England pool to fill the UI, NSTAR and CMP load (approx 1,000 mw/h).  Based on a 42 hour post petition calculation, ISO projects 30 day exposure at $39MM.  Since collateral is calculated at 3.5x, we would owe $137MM in collateral.  Unless we feel that our load/supply shape will change, as per the letter, we can request the ISO to reconsider the collateral amount.  Let me know your thoughts.

Ed Sacks