Jeff
FYI
---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 05/24/99 01:59 
PM ---------------------------
   
	Enron Capital & Trade Resources Corp.
	
	From:  pgraff@reliantenergy.com                           05/24/99 10:46 AM
	

To: sonnet.edmonds@southernenergy.com, mroger3@entergy.com, 
vincent.duane@southernenergy.com, jjarvis@pcenergy.com, Elizabeth 
Sager/HOU/ECT, phjones@duke-energy.com, hemu@dynegy.com, cowanm@pge-texas.com
cc:  
Subject: ERCOT





As you may know, a group has been convened to develop an industry contract
to trade gas.  The group is called GISB-Canada and as the name suggests,
they intend to use the GISB gas contract as the Base Agreement and to
modify the language to make it applicable in Canada.  At first, they were
just going to change language like "MMBtu" to "joule"; "jurisdiction" to
"province"; and reference a Canadian Bank interest rate rather than the
Wall Street Journal.    They were going to stay away from what they deemed
"substantive" changes.

I have asked them to reconsider this decision and to take the opportunity
to "update" the GISB, hopefully, in a manner that could be used
cross-border.  I have explained that most of our counterparties supplement
the GISB with their own Special Provisions and we could use these
supplements as a starting point for creating an Industry Standard GISB
"update" that could be used cross-border.

In this regard, would you please send me a copy of your company's Special
Provisions so that I can forward them to Ian Anderson in Canada.  Also,
would you please put me in touch with someone in your organization that
might be interested in participating in this effort.  I think it would be
very helpful for the Canadians to hear about our experience with GISB and
gas trading in general in developing an Industry Standard Contract.  The
next meeting in Canada is this Wednesday at 12:00 p.m. (Houston Time) and
again on June 26.  I would like to send them something to consider prior to
the June 26 meeting.

Thank you so much for your help on this.

Dede Russo