Message-ID: <4159855.1075848248227.JavaMail.evans@thyme> Date: Thu, 10 May 2001 02:41:00 -0700 (PDT) From: steven.kean@enron.com To: nicholas.o'day@enron.com Subject: Re: Tokyo Presentation 15 May Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Steven J Kean X-To: Nicholas O'Day X-cc: X-bcc: X-Folder: \Steven_Kean_June2001_5\Notes Folders\Sent X-Origin: KEAN-S X-FileName: skean.nsf The presentation looks fine but consider adding this idea in a few slides: the continuation of a regulated structure poses considerable risk for utilities. California's utilities were pushed to the brink of, or into, bankruptcy because of a regualtory regime which allocated price risk to them. All parties are better off in a system where the regulated enterprise is limited to natural monopoly functions and all other acitivities are conducted in a marketplace. Also, did we cover the shortcomings of the Japanese market sufficiently?