Janelle and Tom:  Ed Sacks and I need to speak with you in the a.m. about a  few issues.
I have questions about market disruption because Con Ed has asked:  (1)  that Market Quotation apply rather than Loss (in the event of Early  Termination)  Is this a very liquid market?
ENA agrees to market quotation only for FX  and short term deals in liquid markets (e.g., gas)  (2)  to jointly determine when a Market Disruption has occurred (after  consultation)  Usually ENA as the Calculation Agent makes this determination in good faith.
(3)  to identify two brokers/pricing platforms for purposes of determining  the daily MTM  Each party typically assesses its own MTM for valuation purposes (whether  for collateral calls or termination, etc.).
Sounds like Ed and I need to  know what was said to Con Ed about marking  (4)  I think Con Ed was headed in the direction of asking that we each  provide dealer quotes (rather than ENA coming up with two quotes in good  faith) as a Disruption Fallback.
Tom, I think we discussed this in a  different situation.
Ed and I agreed to conference at 10 am Houston time to discuss these and the  draft docs (which were e-mailed to you).

Consolidated Edison Company of New York, Inc.