Subject: RE: One- way payment vs two- way payments in physical power and gas contracts
From: [email-masked]
To: [email-masked]
Cc: [email-masked], [email-masked], [email-masked]
Date: Wed, 31 Oct 2001 08:08:01 -0800 (PST)

Barbara:

	The change on the physical gas contracts was made in August, 1999.  I hope this is of some help.

Jeff

 -----Original Message-----
From: 	Gray, Barbara N.  
Sent:	Wednesday, October 31, 2001 10:04 AM
To:	Hodge, Jeffrey T.; Sager, Elizabeth
Cc:	Koehler, Anne C.; Cook, Mary
Subject:	One- way payment vs two- way payments in physical power and gas contracts  

It is my understanding  that during the evolution of our physical power and natural gas contract forms, there existed forms which provided only for one-way payments (defaulting party receives nothing even if 'in the money' at termination)...It has become critical that we do due diligence on an  expedited basis to identify those one-way payment contracts....based  on a "down and dirty" due diligence effort.. Thus, can you please have someone in your group identify for me the month and year which we changed our forms to provide for 2-way payments.  This will enable us to make a "rough cut" of those contracts which cannot be included  in various asset baskets.   Thanks for your prompt assistance   bng