Idea

Kevin, how do we get at the transmission without buying the entire company?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 10/06/2000
08:20 AM ---------------------------

Tamara Jae Black
10/04/2000 12:36 PM
To: David W Delainey/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron
cc:
Subject: Idea

---------------------- Forwarded by Tamara Jae Black/HOU/ECT on 10/04/2000
01:33 PM ---------------------------

Enron North America Corp.

From: Kevin M Presto 10/04/2000 12:12 PM

To: Tamara Jae Black/HOU/ECT@ECT
cc:
Subject: Idea

Please forward this to Dave and John. My e-mail is not working for them.

Thanks.
---------------------- Forwarded by Kevin M Presto/HOU/ECT on 10/04/2000
11:54 AM ---------------------------

Enron North America Corp.

From: Kevin M Presto 10/04/2000 12:08 PM

To: Dave Delainey, John Lavorato
cc:
Subject: Idea

What do you think of a hostile bid for SOCO's transmission assets (Georgia
Power, Gulf Power, Alabama Power, Savannah Electric, & Mississippi Power &
Light), and a simultaneously create an ISO/RTO that is auctioned to the
market. This would clearly expedite the opening of markets in the SE
significantly.

I think we could get an FPL, Duke, VEPCO, Entergy, Cinergy type company to
provide a pre-negotiated purchase price for the transmission facilities so
our capital at risk would be minimal. Additionally, we would cut a deal with
FERC on what the new market design would look like and the ultimate
transmission owner would live with the market design.

What are your thoughts.