
Date: Mon, 16 Apr 2001 02:13:00 -0700 (PDT)
From: steve.hall@enron.com
To: susan.mara@enron.com
Subject: Re: CAISO Notice: Market Notice re: Credit Issues
Cc: christian.yoder@enron.com, gfergus@brobeck.com, jalexander@gibbs-bruns.com,
james.steffes@enron.com, ray.alvarez@enron.com,
paul.kaufman@enron.com, jeff.dasovich@enron.com,
alan.comnes@enron.com, richard.shapiro@enron.com,
michael.tribolet@enron.com, jubran.whalan@enron.com,
neil.bresnan@enron.com, tim.belden@enron.com,
harry.kingerski@enron.com, elizabeth.sager@enron.com
Bcc: christian.yoder@enron.com, gfergus@brobeck.com, jalexander@gibbs-bruns.com,
james.steffes@enron.com, ray.alvarez@enron.com,
paul.kaufman@enron.com, jeff.dasovich@enron.com,
alan.comnes@enron.com, richard.shapiro@enron.com,
michael.tribolet@enron.com, jubran.whalan@enron.com,
neil.bresnan@enron.com, tim.belden@enron.com,
harry.kingerski@enron.com, elizabeth.sager@enron.com

By agreeing to pay only for "reasonable" offers, DWR left itself a loophole
big enough to drive a truck through:

"DWR will assume financial responsibility for
all purchases by the ISO in its ancillary services and imbalance energy
markets based bids or other offers determined to be reasonable. Such
determination of reasonableness will be made by DWR on a case by case basis
and communicated to the ISO."  (Emphasis added.)






