Dear Steve,

Thank you for taking your time last month.

I have additional questions. I am glad if you give me some suggestions.

First, are there any risk of soaring electricity price and brownouts in
regulated states like Florida or Northwest in the near future, for example
this summer?

Second, I found you mentioned about open access on existing transmission
lines. Who regulates access now in which area?

Third, in San Diego, why have other IPP built new plants and inter-regional
transmission lines even if they expected today's situation? Can I say that
Dynegy and Duke are the winners because they have bought plants from SDG&E?
Do Enron have interest to build new plants in California?

Again, thank you for your cooperations.

Ken Chiba
NIKKEI Chicago