PSE&G ,
 Tanya:
We finally got a draft of the CSA from their counsel.  Just a few questions 
for you:

1. Threshold amounts for both of us are $7,500,000.  For some reason, they 
gave themselves a $15,000,000 threshold.

2. I am assuming that we want a MAC trigger that will bring the threshold to 
zero.  Is the MAC trigger for both of us below BBB-?

3. For the issuer of an LC, they have that the rating can be either A- by S&P 
or A3 by Moody's.  Do you want to insist on requiring both ratings?

4. Is our Guaranty cap $15,000,000?


Carol
tanya.rohauer@enron.com