Re: coral

Gregg and Steve,

I think that we should add the phrase "or any increases to the MTV as a
result of Buyer's Deficiency Quantity" that you added in Nicor. I left a
message for the Coral attorney this morning. I am planning on telling him
about the addition of the phrase when he calls.

Stacy

Gregg Penman@ENRON
04/02/2001 10:49 AM

To: Stacy E Dickson/HOU/ECT@ECT
cc: Steve Richman/Corp/Enron@ENRON
Subject: coral

Stacy - one quick question regarding the Coral Transaction Agreements, is it
your interpretation that the fuel charge, 1.7%, would also apply to the
credits to the MTV resulting from our non-perfomance? We tried to make that
more specific under the Nicor agreement. Steve has discussed the concept
with Coral and they seem to be fine with it. However, Coral's only change to
the fuel charge language was including the term "sold". Do you think this is
sufficient, or should we be more specific?

Thanks - Gregg