ABB and TexMex ,
 Louise,

It is possible that ABB will raise the subject of our option with them for the construction of the HVDC tie while in our meeting tomorrow.

As you know, we paid a considerable sum in the past for this option, which effectively expires at the end of November.

Under current market conditions, I think it will be possible to pay a much lower sum - and in fact, I think we can apply this sum against the ABB contracted project cost in the event we proceed. 

No decisions are needed on this tomorrow, and it might not even come up - but clearly, we've kept these guys hanging on the line for some time now and I expect that realistically we will not be in a position to give them a Notice to Proceed until middle of next year, given contracting and Presidential Permit issues.

Dave
louise.kitchen@enron.com