Subject: FW: West Power Counterparty Update: 12/31/01
From: [email-masked]
To: [email-masked]
Date: Mon, 7 Jan 2002 10:18:30 -0800 (PST)

-----Original Message-----
From: 	Hall, Steve C. (Legal)  
Sent:	Monday, December 31, 2001 2:35 PM
To:	Panus, Stephanie
Cc:	Belden, Tim; Calger, Christopher F.; Yoder, Christian; Thomas, Jake; Crandall, Sean; Mallory, Chris; Alonso, Tom; Fischer, Mark; Scholtes, Diana; Williams III, Bill; Cutsforth, Diane; Bishop, Serena; Runswick, Stacy; Rance, Susan; Sager, Elizabeth
Subject:	West Power Counterparty Update:  12/31/01

Today's mail brought the following news:

1.  Metropolitan Water District:  MWD has terminated Deal Nos. 790056.01 and 807275.01, effective December 12, 2001.  There are two other one-month deals, one beginning in February and one in March.  I am confirming with MWD that they intend to terminate those as well, as is required under the WSPP agreement.

2.  City of Vernon:  City of Vernon has terminated all deals effective December 27, 2001.

3.  WAPA is retaining monies due Enron for post-November 30 deliveries while WAPA "assess[es its] set-off rights under the Bankruptcy Code and other applicable law."

4.  City of Luzenac has suspended deliveries until January 15, 2002.

5.  City of Burbank has terminated all transactions immediately.