The California ISO hereby issues a STAGE 1 ELECTRICAL EMERGENCY Notice, effective 03/29/2004 13:50 through 03/29/2004 19:59. Reason(s): Due to higher than expected loads and loss of resources South of Path 15. Operating Reserves are currently, or forecast to be, less than amounts required by the Western Electricity Coordinating Council. If Operating Reserves deplete further, the ISO will declare a Stage 2 Electrical Emergency and may begin curtailing Interruptible Loads*. Monitor system conditions on the California ISO Website at www.caiso.com and check with local electric utilities for additional information. This message was sent by Market Operations at the California ISO.