Action Plan - Alberta Pricing Issues

Further to our conference call this afternoon, our plan is to proceed as
follows:

1) Hemstock/Dadson to contact Tom McLaren at Government Policy Consultants to
obtain advice on process to arrange meeting between senior Enron Executives
and Klein, West, and Cardinal. The meeting would be to discuss steps being
taken by the Alberta Government to address electricity pricing concerns. We
intend to have GPC make the request on Tuesday Nov 13 with a view to the
request itself attracting attention of senior government officials.

2) Hemstock/Keohane to instruct Blake Cassels & Graydon to prepare letter to
Maury Parsons, Chairman of the Power Pool Council that communicates Enron's
concern that approval of the rule changes proposed would offend the
obligations of the PPC under the EUA and request PPC to entertain stakeholder
input on these fundamental changes prior to approval, failing which we expect
Enron would proceed with legal action. The letter would indicate Enron's
preliminary concerns with the proposed rule changes and express a need to
more fully consider the impact of the proposed changes. The letter will also
emphasize that Enron is willing to work with the Power Pool to review the
experience in other jurisdicitions with similar rule changes and present
other options designed to address the concerns of the Power Pool respecting
Alberta electricity pricing. Seabron Adamson and Derek Davies/John Zufferli
will provide input on substantive concerns with the proposed rule changes.

3) Hemstock/Milnthorp to call Lorry Wilson, CEO of Power Pool, Dale McMaster
COO Power Pool, Maury Parsons, Chairman, Power Pool Council, and Ron George,
Power Pool Council Member prior to Blakes letter being sent to express
Enron's procedural and substantive concerns with the proposed rule change.

4) Hemstock/Milnthorp to contact the following group of generation developers
and encourage them to immediately contact Power Pool Council members to
express concern with substance of these rule changes and the process under
which they are being effected:
i) Rick Kline - Chairman, Independent Power Producers Society of Alberta
(Hemstock);
ii) Dick Way - Vice-President, Regulatory Affairs, TransAlta (Hemstock);
iii) Gary Bauer - President, Atco Power (Milnthorp);
iv) Mike Broadfoot - President, Engage Energy (Milnthorp);
v) Karl Johanson - Vice President, TransCanada Energy (Hemstock).

5) Hemstock/Dadson to request GPC and Enron Public Affairs consider
media/government relations strategy, including potential Project Stanley
impact, if Enron does proceed with legal action on this issue.

Please advise if you have additional points that should be in the action plan
that I have not been captured.

Regards,

Rob