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Date: Fri, 7 Dec 2001 13:37:03 -0800 (PST)
From: legal <.hall@enron.com>
To: wade.stubblefield@enron.com
Subject: CAISO/Calpine
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Wade here are the wiring instructions for two payments, one to the CAISO and one to Calpine:

CAISO:

$206,000

This amount represents two days' A/S and GMC charges, plus enough money to bring replenish the "3-day buffer."


Calpine:

$1,980,800

This represents two days' worth of energy to serve our California load.  Our price was $40/MWh.  


By purchasing this energy from Calpine instead of the CAISO, we saved $120/MWh ($60/MWh + $100/MWh underscheduling penalty).

This is a savings of approximately $6 million over the next two days.
