CA Power Issue

Attached are some articles concerning further development and elaboration on
the California power crisis and testimony to the Senate Energy, Utilities and
Communications Committee by the CEO of CAL-ISO concerning the power
issues/problems.

Testimony before Senate Energy, Utilities & Communications Committee And the
Assembly Utilities & Commerce Committee
By Terry M. Winter, President and CEO
California Independent System Operator
August 10, 2000

An August 10th article from Natural Gas Intelligence that talks of the
defensive posture the California Independent System Operator (Cal-ISO) has
taken concerning the accusations that Governor Davis' emergency electricity
report had made about the new deregulated market.

An article from Natural Gas Intelligence talks about the vote, on July 31st,
by the California Independent System Operator (Cal-ISO) Board to move the
price cap to $250. The pros and cons of the price cap are mentioned, as well
as other remedies for the power situation. Also, there are several comments
in the article from California Senator Steve Peace on how "dysfunctional" the
market is and why it should be restructured.