The following action items are being pursued as next steps -

1. Wohlens Committee Meeting   Feb 21

No Enron presentation given previous schedules.  
Jean Ryall will attend to hear discussion.
Trying to have Skilling communicate key messages to Wohlens that consumer 
benefits will be less than expected because the wholesale rules advantage the 
current incumbents.  Need to fix the market quickly.

2. PUC of Texas Public Meeting   Feb 22

KEY POINT - Asking for delay of Protocol Decision until next Public Meeting 
on March 7.
If delay, Ron McNamara and Jean Ryall will develop our next set of comments 
that need to be complete by Feb 26 for internal vetting and submitted to 
PUC.  Critical that we are detailed.
If no delay, Enron intends to seek Request for Rehearing at PUC (Marianne 
Carroll will lead effort).

3. Chairman Wood Meeting   Feb 28

Ron McNamara and Jean Ryall should work to develop presentation to Chairman 
Wood on Enron issues that needs to be complete by Feb 26 for internal 
vetting.  
Please incorporate information on market activity from Bruce Sukaly and EES.

4. ERCOT

Jean Ryall is seeking to win election to the ERCOT Board to replace Robin 
Kittel.  Having a vote on the ERCOT Board is critical for our future success.
Ron McNamara is working with ERCOT Change Committee to define necessary fixes 
assuming PUC approves Protocols.
Jean Ryall and Ron McNamara are soliciting votes for our proposed changes to 
the Protocols currently.  Whatever voting process occurs, we need to begin 
building the grass roots supports amongst the industry members.

5. Other

Enron needs to begin developing specific changes to the ERCOT protocols.  Ron 
McNamara and Jean Ryall need to coordinate if we need to hire outside 
consultants to support this effort.  This is critical for a number of steps.
Enron needs to develop metrics that we can begin recording that will 
highlight the failure of liquidity and price transparency.   Jean Ryall 
should coordinate this activity to use in her political / regulatory 
activities.  If there are any good ideas on what to use, please forward to 
Jean.

I know that making this market work is critical for ENA.  If we can do 
anything else to advance our interest, please let me know.

Jim