EXHIBIT 99.511


                             INDUSTRY RESTRUCTURING


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                         ALTERNATIVE INDUSTRY STRUCTURES


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                        INDEPENDENT SYSTEM OPERATOR (ISO)



*   PROVIDES TRANSMISSION SERVICES ON A NON-DISCRIMINATORY BASIS

*   MAINTAINS RELIABILITY / ARRANGES FOR ANCILLARY SERVICES          [GRAPHIC]

*   PRICES TRANSMISSION / RESOLVES CONGESTION







            ALTERNATIVE STRUCTURES FOR TRANSMISSION--VERTICAL UTILITY


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               ALTERNATIVE STRUCTURES FOR TRANSMISSION--NGC MODEL


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           ALTERNATIVE STRUCTURES FOR TRANSMISSION--AUSTRALIAN MODEL


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               ALTERNATIVE STRUCTURES FOR TRANSMISSION--PJM MODEL


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                ALTERNATIVE STRUCTURES FOR TRANSMISSION--TRANSCO


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                 ALTERNATIVE STRUCTURES FOR TRANSMISSION--WEPEX


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               ALTERNATIVE STRUCTURES FOR TRANSMISSION--FERC MODEL


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                                 COMMON TYPES OF
                              TRANSMISSION SERVICE


                                     [CHART]






                             FERC ANCILLARY SERVICES


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