-----Original Message-----
From: 	"Derek Denniston" <ddenniston@aesc.com>@ENRON  
Sent:	Wednesday, October 24, 2001 9:55 AM
To:	Davies, Derek; Hrap, Gerry; Zufferli, John
Subject:	AES Calgary: Revised Tolling Inputs

Gentlemen,

First, my condolences on your stock price.  All I can say is that I
empathize: AES fell 49% in one day a few weeks ago.  I suspect the market
will bounce back for both our companies before very long.

I attach a speadsheet with slightly revised performance numbers, and per
our last conversation, I have added numbers on ramp rates and start times
to help you better model the optionality.  When the forwards improve (as a
developer, I MUST be optimistic!), you can use this updated information to
update your pricing.  I look forward to resuming our discussions.

Regards,

Derek Denniston
Vice President
AES Calgary
o: 415.395.7886
f:  415.395.7891
m: 415.786.3773
ddenniston@aesc.com


 - Tolling Inputs 10-23.xls