
Date: Wed, 30 May 2001 08:52:00 -0700 (PDT)
From: peter.styles@enron.com
To: richard.shapiro@enron.com
Subject: Steve Kean's speech on California, Madrid 12/6; EURELECTRIC mission
to the USA: Report
Cc: paul.dawson@enron.com, brendan.devlin@enron.com, nailia.dindarova@enron.com,
fiona.grant@enron.com, paul.hennemeyer@enron.com,
alfredo.huertas@enron.com, teun.biert@enron.com, doug.wood@enron.com,
ginger.dernehl@enron.com, maureen.mcvicker@enron.com
Bcc: paul.dawson@enron.com, brendan.devlin@enron.com, nailia.dindarova@enron.com,
fiona.grant@enron.com, paul.hennemeyer@enron.com,
alfredo.huertas@enron.com, teun.biert@enron.com, doug.wood@enron.com,
ginger.dernehl@enron.com, maureen.mcvicker@enron.com

Rick: Here's the "draft" Eurelectric report (never saw final, but don't think
it's materially different.)

Would be good if whoever is updating Jim Steffes slides from 29/3 could take
a steer from the issues the report concentrates on, and either endorse/
explain them, or rebut/ disentangle them. Also we should bear in mind theme
of Madrid conferenc is convergence of power and gas markets/ regulation, so
gas market aspects for Western Area will be of partic. interest. Items to
de-emphasise in very short slot available may be workings of PX and NOx
credits trading.

For potential lessons of relevance to Europe, I think Steve should
concentrate on dangers in: decoupling of wholesale and retail market,
attempted upfront guaranteed benefits to smaller consumers, and absence of
adequate demand side, and generation investment, signals.

Alfredo, Teun, Paul and Paul: As mentioned in staff meeting yesterday, would
appreciate your one or two slides each of bullet points on lessons for/
reassurance of irrelevance to (as the case may be!) your markets by end this
week. Steve is away, so Rick and I will take a look at pulling this together
intitially.

