The core of Enron’s retail business is developing long-term, multi-year relationships with our customers. The value at contract signing is only a part of the potential value that can be realized when satisfied customers seek to add additional Enron services to their contracts.

Of the $16.1 billion in total contract value signed in 2000, approximately $3 billion came from expansions of existing contract relationships. For example, in 1998, we signed a five-year, $250 million contract with World Color Press, which later merged with Quebecor Printing. In 2000, based on Quebecor World’s satisfaction, the relationship was extended and expanded to a 10-year, $1 billion agreement including not only commodity supply, but also overall energy management, including the design and implementation of improvements in energy asset infrastructure in more than 60 facilities operated by Quebecor World.

We value our long-term customer relationships, and the health of these relationships can’t be left to luck, instinct or vague impressions. Our Customer Satisfaction Program continually captures our performance against expectations and benchmarks those results. Further, it is designed to ensure identification and resolution — including prompt escalation to the executive level if needed — of any issue that might arise.