FERC Staff Investigation Report ,
 In Staff's report on its investigation of the bulk power markets in the east, 
the Midwest report notes on page 2-15, Additions to Capacity, that new 
generation has been added in the Midwest region, and that some market 
participants believe that developers sited new generation in the Midwest 
because there were no price caps.  

Steve Kean suggested that we refer to this finding in our November 20 
comments on the California order and specifically draw the conclusion that no 
price caps leads to more generation development.

The Midwest report is attached.  Please let me know if you have any questions.

Sarah
steven.kean@enron.com, richard.shapiro@enron.com, james.steffes@enron.com, 