Message-ID: <29365317.1075858515080.JavaMail.evans@thyme> Date: Thu, 19 Apr 2001 13:51:00 -0700 (PDT) From: h..foster@enron.com To: p..o'neil@enron.com, chris.stokley@enron.com Subject: ISO Market Notice - Order to Remit to CALPX the $171,116,114.43 Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Foster, Chris H. X-To: O'Neil, Murray P. , Stokley, Chris X-cc: X-bcc: X-Folder: \Stokley, Chris (Non-Privileged)\Chris Stokley\Mid Markt X-Origin: Stokley-C X-FileName: Stokley, Chris (Non-Privileged).pst ---------------------- Forwarded by Chris H Foster/HOU/ECT on 04/19/2001 08:58 AM --------------------------- Susan J Mara@ENRON 04/19/2001 08:38 AM To: Michael Tribolet/ENRON@enronXgate, James D Steffes/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Chris H Foster/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, rcarroll@bracepatt.com, gfergus@brobeck.com, jalexander@bruns.com cc: Subject: ISO Market Notice - Order to Remit to CALPX the $171,116,114.43 I believe this is from the PX's bankruptcy proceeding. Sue Mara Enron Corp. Tel: (415) 782-7802 Fax:(415) 782-7854 ----- Forwarded by Susan J Mara/NA/Enron on 04/19/2001 08:35 AM ----- CRCommunications 04/19/2001 06:56 AM To: ISO Market Participants cc: Subject: Market Notice - Order to Remit to CALPX the $171,116,114.43 The ISO has received an order to remit to the California Power Exchange the $171,116,114.43 (plus accrued interest) which was sent by PG&E to the ISO in payment of PX obligations. A copy of the order is attached below. The ISO will make this distribution tomorrow. <> Additionally, with respect to the market notices on cash clearing, the ISO will publish a list of defaulting parties after the final invoices are settled for each trade month. Certifications of amounts owed will also be published only after the final invoice settlement for each trade month. ------------------------------------------- April 10, 2001 Market Notice: Please be advised of this important follow-up from the Market Notice of March 8, 2001, (an extract of which is provided below.) The ISO has been informed by our counsel that Judge Moreno has granted the California Power Exchange's temporary restraining order request which would prohibit the ISO from distributing the funds referenced below. Additionally, an order is being finalized which will direct the ISO to turn over the $171,116,114.43 to the California Power Exchange. ------------------------------------------- March 8, 2001 Market Notice Extract: Additionally, the ISO received $171,116,114.43 ($177 million less GMC obligation) directly from PG&E. PG&E indicated the funds were to be applied in payment of California Power Exchange ("Cal PX") obligations. The ISO has been contacted by the Cal PX, and they have indicated they believe they are entitled to such funds and that such funds are subject to a pending action in federal court entitled "Enron Power Marketing, Inc. and Enron Corp. v. California Power Exchange Corporation", Case No. 01-00901CM (Central District of California. The Cal PX has indicated they plan to seek an order within the next 7-10 days with the Court to have the funds transferred to the Cal PX for deposit into an escrow account pursuant to Judge Moreno's Preliminary Injunction. These funds are being held by the ISO in a segregated interest bearing account pending resolution of this issue by that court. - ISO-PI-SCANNED.tif