
Date: Sun, 8 Apr 2001 05:07:00 -0700 (PDT)
From: sharon.crawford@enron.com
To: mark.haedicke@enron.com, jeffrey.hodge@enron.com, elizabeth.sager@enron.com,
travis.mccullough@enron.com, raa@blakes.com
Subject: Pacific Gas and Electric Company - GTC Summary - PRIVILEGED AND
CONFIDENTIAL

I attach a summary of the 11 outstanding ECC transactions under ECC's GTC:



In summary, the principal risks are:

Principal Risks:

1. Unexecuted Confirmation Letters on approx. 75,000 GJs per day
2. Receivables (approx. US $25MM pre-petition and approx. US $300K per day
post-petition)
3. MTM (aggregate negative MTM approx. US $1.9MM)

Please note:

1. I am trying to track down PG&E's back-up paper sent for each deal and will
update the chart to indicate the differences to their GTCs.  We have found
only one corresponding PG&E Confirmation Letter (for TAGG #N13588.1/2/3)
which refers to PG&E's form of unexecuted Master Agreement.  I have
summarized at the end of the chart the applicable provisions of PG&E's Master
Agreement form if it were to govern.

2. I have not been successful in tracking down Canadian insolvency counsel
over the weekend, but will keep trying.
