CDWR

FYI.
----- Forwarded by Jeff Dasovich/NA/Enron on 02/23/2001 06:12 PM -----

Christopher F Calger@ECT
02/23/2001 06:00 PM

To: David W Delainey/HOU/EES@EES
cc: Jeff Dasovich/NA/Enron@Enron
Subject: CDWR

Dave,

Today we entered into an agreement with CDWR. A condition of any new deal
was payment for power deliveries already made. We received $10.9MM today so
we executed a 200MW Peak NP-15 Sale from Feb24-Mar31. CDWR gave us an option
until Mar28 to extend the deal for five years (at a lower price). This gives
us the opportunity to work out the credit issues.

I plan on speaking with Freeman early next week to re-engage on credit issues
/ Pastoria / other deals.

Chris