Letters to terminate CalPX Participation Agreement ,
 Christian asked me to work with Dan Watkiss to prepare a FERC filing to 
terminate EPMI's participation in the PX.  I have asked Dan to get started as 
Christian said we may decide to file as soon as today.  See attached 
explanation.  Does EES also have a participation agreement?  And if so do we 
also need to file a termination for EES?
---------------------- Forwarded by Mary Hain/HOU/ECT on 02/01/2001 09:04 AM 
---------------------------

Christian Yoder

02/01/2001 08:12 AM
To: Mary Hain/HOU/ECT@ECT
cc:  
Subject: Letters to terminate EPMI's CalPX Participation Agreement


---------------------- Forwarded by Christian Yoder/HOU/ECT on 02/01/2001 
07:53 AM ---------------------------

Christian Yoder

02/01/2001 07:47 AM
To: DWatkiss@bracepatt.com
cc: Elizabeth Sager/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, 
gfergus@brobeck.com, jklauber@llgm.com, Steve C Hall/PDX/ECT@ECT 
Subject: Letters to terminate EPMI's CalPX Participation Agreement

Dan,
At some point in the incremental meltdown of the PX process, perhaps when we 
default on payment of the large chargeback bill we will receive today or 
tomorrow and the PX takes our remaining collateral, the question will 
suddenly be:  how does one make sure one is not the last man standing?  It 
would seem that if it is possible to ever become a  "former"   participant in 
the PX and not a "current" one, ("current" being  the word used in the tariff 
to describe who the chargebacks go to) that we would have had, at a minimum, 
to have given notice of termination of our participation in both the Core and 
CTS markets.  Please review this documentation and help us prepare for a 
possible extradited extraction from the PX.  Thanks.----cgy 
---------------------- Forwarded by Christian Yoder/HOU/ECT on 02/01/2001 
07:19 AM ---------------------------


Steve C Hall
01/31/2001 05:57 PM
To: Elizabeth Sager/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, 
gfergus@brobeck.com, Christian Yoder/HOU/ECT@ECT
cc:  
Subject: Letters to terminate EPMI's CalPX Participation Agreement

I have attached ready-to-file drafts of the letters necessary to terminate 
EPMI's Participation Agreement with the CalPX.  In addition to the letter to 
the CalPX, I am reasonably certain that a FERC filing is required to 
terminate the Participation Agreement because it is a power purchase/sale 
agreement, the form of which is on file with FERC.  Just to be safe I 
prepared the transmittal letter, notice of termination, and notice of filing 
necessary to file with FERC.  Among other things, I requested waiver of the 
60-day notice period.

I'll wait for further instruction before doing anything else on this matter.

Steve
phillip.allen@enron.com, robert.badeer@enron.com, tim.belden@enron.com, 