Deal Struck in CA to Restructure Socalgas

Hi. FYI. Yesterday a deal was submitted to the California Commission
(without just about everyone in the industry signing) to restructure
Socalgas. More details to come, but wanted to give a flavor, knowing that
you're actively engaged in negotiations.

Assuming a 10.01.00 approval date by the Commission:
90 days after approval
Windowing process replaced with OFO system
Interstate capacity unbundled for core customers

effective April 2001:
Ability to balance using 3rd party provider
Open season for Socal storage
Secondary market for storage (using Alltrade if want to)
Trade OFO imbalances and imbalance rights (using Alltrade if want to )

effective Octover 2001:
Open season for Socal intrastate capacity
Secondary market for intrastate capacity (using Alltrade if want to)
Pooling at new city gates