email_body: Peggy, this is a summary version of the original information from Richard Ring.
  Richard's input about the below was that it might not be suitable for direct distribution to customers but that it was acceptable for internal reference or talking points.
  I don't think it can be condensed any more without losing important information.
  SUMMARY  Upon becoming a NEPOOL member, EESI chose to satisfy the Financial Assurance Policy requirement by issuance of Performance  Bond(s) via Fireman's Fund Insurance Company, which issued a Performance Bond in the amount of $8,000,000.
  On or about October 12, 2001, EESI received a letter from ISO New England dated October 10, 2001, indicating that EESI's current  Performance Bond was insufficient and that EESI needed to increase the amount to $11,703,018.75 to cover EESI's current activity level.
  In telephone conversations with ISO-NE, EESI was informed that in order to avoid Financial Assurance Default the matter needed to be  resolved within ten (10) days of the date of the October 10, 2001 letter (October 19, 2001).
  By October 16, EESI had requested a bond increase in the EESI NEPOOL Performance Bond to $20,000,000, but encountered delays in  working with the bond company.
  EESI Credit Department personnel sent ISO-NE personnel on October 19, 2001, via FAX, a copy of the request to the bond company for  revisions to the Performance Bond, and indicated EESI was working diligently to resolve the matter.
  EESI was unable to comply with the October 19, 2001 deadline to resolve the Financial Assurance Default due to delays with the bond company  as mentioned above.
  
subject_line: Summary version
  