Next Steps

Resumes 1/10/01 in WDC.  Enron will continue to attend.

In the Room

Reliant submitted its proposal for blended rates and determining the real gap 
between a blended wholesale price and potential retail rates. Reliant showed 
that the gap is potentially quite small.
Reliant's effort was to move us away from the "Sharing the Pain" concept 
offered by PG&E.
Enron again requested utility ideas for a quid pro quo, assuming any deal 
could be struck.
Judge requested additional info from ISO and PX on market shares -- several 
marketers explained their concern (e.g. Morgan Stanley, Merrill Lynch, 
Avista) that this request gave credence to the "Pain" allocation proposal and 
refused to give permission to release their data.  Enron said it was checking 
on whether to release the data, but had the same concerns as the other 
marketers on the principles.
Judge decided to use a joint statement for his report (see attached) to the 
public. The statement was agreed to, in large part, by the participants.
Judge mentioned that 40% of the A/S market is apparently held by three 
municipal/alien utilities. 
Judges order urges participation by these parties.


Out of the Room

More bilateral discussions between utilities and gens.
Marketers discuss whether to continue to stay in the room and participate.