The latest financial news from the ISO

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 05/01/2001 01:29 PM -----

	CRCommunications <CRCommunications@caiso.com>
	04/30/2001 02:49 PM
	Please respond to "Leiber, Phil"
		 
		 To: ISO Market Participants 
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=ISO+20MARKET+20PARTI
CIPANTS@caiso.com>
		 cc: 
		 Subject: CAISO Notice: Market Notice--February Preliminary Invoice


> ISO Market Participants:
> 
> Cash clearing related to the preliminary invoice for February 2001 was
> scheduled for today, April 30, 2001.  
> 
> A preliminary overview of the cash received follows:
> 
> Funds due ISO (Accounts Receivable):
>   GMC         $23,049,950.38
>   Market         $972,588,030.84
>             ------------------------
>   Total         $995,637,981.22
> 
> Funds Received:
>   GMC         $4,500,303.61
>   Market         $59,136,334.68
>             ------------------------
>   Total         $63,636,628.29
> 
> Funds due for ISO GMC, Market Participants (Accounts Payable):
>   GMC         $23,049,950.38
>   Market         $952,742,085.50
> 
> Preliminary shortfall: 
>   GMC         $18,549,646.77
>   Market         $893,605,750.82
> 
> Reallocated shortfall: 
>   GMC         $0
>   Market         $912,155,397.59
> 
> 
> Funds available for distribution to market participants are reduced by the
> GMC shortfall, accordingly, $40,586,687.91 ($59,136,334.68 less GMC
> shortfall of $18,549,646.77) will be available for distribution against
> February ISO market accounts payable of $952,742,085.50, and against prior
> months balances.  Due to this shortfall in receipts from market debtors,
> the ISO is required to perform calculations in accordance with ISO Tariff
> Section 11 and Settlements and Billing Protocol ("SABP") Section 6 to
> determine the appropriate pro-rata distributions to market participants.
> Any potential distributions are reduced to pay previously defaulted
> amounts, or current month GMC obligations of that market participant.
> Distributions will be made upon completion of these calculations.   These
> figures also do not consider any amounts payable directly to market
> participants from the California Department of Water Resources.
> 
> As noted in previous communications, the ISO will provide a comprehensive
> reporting of the monthly settlement results after the cash clearing for
> the final (true-up) monthly invoices, and will thereafter distribute a
> current certification of amounts owed.   This report for January 2001 will
> be published shortly.
> 
> 
> Phil Leiber
> Dir. Financial Planning & Treasurer
> California ISO
> 916 351-2168
> 916-351-2259 (fax)
>  
>