 ,
 Basic summary for Teco:

Still working with Finance Group to come up with different finance structures.
Working with Insurance group (weather desk) to wear the risk of the project, 
since the Power desk will not wear that type of risk.
Pricing of the put, call and spread option values is still not finalized, 
because Kevin Presto has said that he does not put much value into these 
plants in Eastern PJM
Don Black is beginning to look at other companies for his price risk 
management product.  
He feels he will not be able to get a deal done with Teco at this point in 
time.

Let me know if this is suffient for your analysis.
Ben
3-7998
russ.porter@enron.com