Jane:

This responds to your questions relating to the gambling issues for weather
derivatives which we discussed last week.  This advice is based on discussions
with Naoaki Eguchi and Shinji Toyohara.  We have tried to provide a practical
response to all of the issues raised.  If you need further discussion on the
theoretical underpinnings, please let me know.

As background, the main advice to date on this issue has been our initial
advice
of January 14, 2000, a memorandum to John Viverito dated July 7, 2000 and an
email to John Viverito dated July 13, 2000.

Question 1: (Can/Should ToaRe and Enron Japan give a mutual representation
to the effect that they are each entering into the transaction "to hedge
weather
related risks arising in the ordinary course of [their] business".  If not,
can
the representation be deleted or amended?)

    ToaRe has taken the position that it is a "risk
taker" in this transaction and that, accordingly, it cannot give the
representation because it is not hedging risk.  Similarly, Enron Japan does
currently have weather exposure in Japan and, accordingly, cannot be said to
be
hedging weather risk.

    It follows, that the representation, as
currently drafted, does not fit the actual circumstances of either party and
needs to be modified or deleted.

    Our recommendation would be to modify the
representation as follows:

    (a) each party represents to the other that
it understands the transaction, it is entering into the transaction in the
ordinary course of its business and that it has a legitimate business purpose
for entering into the transaction;

    (b) ToaRe represents to Enron Japan that it
has the power and authority to enter into the transaction under the Insurance
Business Law.

    The modification to paragraph (a) removes the
word "hedge" which would have been problematic to both parties, but retains
the
basic concept that this is a  commercial transaction within the ordinary scope
of business of both parties.  We understand that Enron Japan's business
purposes
allow Enron Japan to engage in weather derivative transaction.  We also note
that the Financial Law Board (Paper on Derivatives Transactions and Gambling,
issued on November 29, 1999; the Financial Law Board is an unofficial
organisation of legal practitioners) has stated that a company that enters
into
derivative transactions as a business may be able to argue that it has a
legitimate business purpose in entering into the transactions - particularly
where the parties to the transaction are sophisticated and the transactions
are
conducted within reasonable parameters.  Based on these factors, we believe
that
Enron Japan should be able to give both representations.  However, Enron Japan
should note that the issue is not entirely clear under Japanese law and there
remains a remote possibility that a Japanese court might determine that Enron
Japan did not have a legitimate business purpose in entering into the
transaction.

    The representation in paragraph (b) is based on
the provisions of the Insurance Business Law that enable insurance companies
(including Japanese reinsurance companies) to enter into certain types of
derivative transactions.  We understand that the FSA has provided informal
guidance to certain financial institutions to the effect that the provisions
allowing financial institutions to enter into financial derivatives are wide
enough to also allow financial institutions to enter into weather derivatives.
However, this is a matter that ToaRe would need to confirm with the FSA
directly, and we are not able to express a general view - all that is possible
is for Enron Japan to request the representation from Toa Re.

    Please note that in cases where Enron Japan's
counterparty is a manufacturing company, the representation, as originally
drafted, should be given by the counterparty.

Question 2:  (Exposure for Enron Japan).

 As discussed in our earlier advice, the issue of whether weather
derivatives constitute gambling under the Japanese Criminal Code is not clear,
and we are not able to provide a definite opinion on these issues.

 There are two defenses to an allegation of gambling under the Criminal
Code:  "acts in accordance with law" and "legitimate business purpose".  In
principle, each counterparty must be able to show that one of the defenses
applies to it.  There is at least a suggestion in the Financial Law Board
paper
that if the "act in accordance with law" defense applies to one party, the
counterparty should also be able to rely on this defense.  However, this
argument does not have judicial support, and the more conservative position is
to ensure that each party meets one or more of the defenses.

 In this case, looking at each defense in turn:

    (a) ToaRe is a reinsurance company and will
be entitled to rely on the provisions of the Insurance Business Law to argue
that entering into a weather derivative transaction is an act in accordance
with
law, and thus does not constitute gambling; and

    (b) it is arguable that, consistent with the
comments of the Financial Law Board discussed above,  both ToaRe and Enron
Japan
have a legitimate business purpose in entering into the transaction on the
basis
that:

* each party is carrying on a business of trading weather risk;

* each party is a sophisticated investor (as Enron Japan is a new company,
it would need to rely on the experience of Enron Japan traders previously
located offshore to show "sophistication"); and

* each party (at least in the case of Enron Japan) is conducting the
transaction in accordance with reasonable parameters.

    Accordingly, assuming that ToaRe is able to give
the representations referred to above, and that these representations are
correct, both paragraph (a) and paragraph (b) appear to apply.  Thus, we do
not
believe that the risk for Enron Japan in entering into this transactions with
ToaRe will be any higher than would have been the case if Enron Japan had
entered into the transaction with a legitimate end user (for example an air
conditioning company).  We have previously characterised this risk as being
"relatively low".

    It is conceivable that Enron Japan may, in the
future, enter into transactions with entities that are neither financial
institutions nor end users (for example, other traders like Enron itself would
fall into this category).  In such a case, Enron Japan will not be able to
rely
on the "act in accordance with law" argument, and will be obliged to rely only
on the "legitimate business purpose" argument based on the fact that the
counterparty is a trader of financial products.  In our view, the risk for
Enron
Japan in this scenario would increase, but could still be characterised as
being
"relatively low".  In this situation, Enron Japan and the counterparty would
give mutual representations to the effect of the representation set out in
paragraph (a) under Question 1 above.

Question 3: (Criminal Sanctions)

    From a technical point of view, criminal
sanctions apply only to individuals, and not to companies.  In this case, the
criminal sanctions (if any) for gambling could potentially apply to the trader
that entered into the transaction.  The responsible managers may also have
criminal liability on the basis that they controlled the acts of the trader,
or
solicited the acts of the trader.

    The penalties are:

    Simple gambling  - up to Yen 500,000 fine
    Habitual gambling - imprisonment up to 3 years;
    Booking - imprisonment of between 3 months and 5
years.

Question 4: (Conducting the transactions using an Enron affiliate located
outside Japan)

 As noted in section 5 of our July 7, 2000 memorandum, we consider that
the risk that the activity constituted gambling would be reduced if Enron were
to enter into weather transactions from offshore.

Embedded in the foregoing comments is the concept that the representations in
the GTC's need to vary depending on whether the counterparty is a financial
institution, another unregulated trader or an end user of weather derivatives.
The representations previously proposed were proposed on the basis that the
counterparty would be an end user. If appropriate, we would be happy to
provide
alternate forms of representations for your reference.

Please let us know if you have any questions.

Best regards

Jeremy Pitts

Registered Foreign Lawyer - Jurisdiction of Primary Qualification - New South
Wales
Designated Jurisdictions - England and Wales and the State of Victoria
Direct Tel:  (81-3) 3479 3839
Direct Fax:  (81-3) 3479 0225
Voice/Fax Messaging: (81-3) 4464 6094

This is an e-mail from Baker & McKenzie - Tokyo Aoyama Law Office (Qualified
Joint Enterprise Offices).

The contents of this e-mail may be privileged and confidential and are
intended
only for the use of the addressee. No one else may copy, forward, disclose or
use all or any of it in any form. If you are not an intended recipient, please
notify us immediately (by reply e-mail) and delete this e-mail from your
system.
Thank you.

  -----Original Message-----
  From: Jane.McBride@enron.com [mailto:Jane.McBride@enron.com]
  Sent: Friday, October 20, 2000 6:18 PM
  To: Jeremy.Pitts@BAKERNET.com
  Cc: Alan.Aronowitz@enron.com; Mark.Evans@enron.com;
Mark.Taylor@enron.com
  Subject: ... Urgent Weather Derivative Advice ...

   << File: Weather-HDD-Floor-OTC-ToaRejmb2000-10-20!.doc >> Dear
Jeremy,

  Pls see for your information my email to Alan, Mark and Alan.

  As discussed, your answers to my questions can be quite brief
and pls cross
  reference previous advice rather than repeating it.

  I think the answer to question 1 - whether we can give the
warranty - has
  got to be no.  So short and sweet on this is fine.

  Re whether we can go ahead without the same (c)(ii) from them
(but with
  (c)(iii)) is a harder question and I understand that all you can
do is
  explain our risk and exposure, in light of the current factual
situation.

  This is a risk appetite question at the end of the day.

  Jane

  ----- Forwarded by Jane McBride/AP/Enron on 10/20/2000 05:57 PM
-----

                      Jane McBride

                                           To:     Alan
Aronowitz/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
                      10/20/2000           cc:
Jeremy.Pitts@BAKERNET.com, John Viverito/Corp/Enron@Enron,
                      05:57 PM             Jonathan
Whitehead/AP/Enron@Enron, Mark Evans/Legal/LON/ECT@ECT,

Paul.TYO.Davis@BakerNet.com, Morten E Pettersen/AP/Enron@Enron, Joseph P
                                           Hirl/AP/ENRON@ENRON

                                           Subject:     ... Urgent
Weather Derivative Advice ...(Document link: Jane
                                           McBride)

  Dear Alan and Mark,

  I am going to need you to help me make a risk decision.  I
welcome input
  from Mark Evans but he may be more comfortable leaving this up
to Alan and
  Mark because Alan and Mark have been involved in this gambling
issue from
  the beginning.

  Jeremy Pitts and I have had a brief conversation re my email to
him below,
  this afternoon, but he will not be able to get written comments
signed off
  by Japanese lawyers to me until Monday.

  The situation relates to the Tokyo's office's first weather
derivatives
  deal, which is with a company called Toa Reinsurance.  In a
nutshell the
  situation is that negotiations have come to a standstill because
neither
  side can move on their positions re the gambling warranties.
The deal of
  course though has already been done over the telephone several
weeks ago.

  In a nutshell then, based on discussions with Jeremy Pitts, but
to be
  clarified by Japanese lawyer on Monday, the situation is:

  1.   In terms of Enron Japan's ability to trade weather
derivatives here,
  we are operating in the grey even if we can get warranty
5(c)(ii) from
  them.

  2.   ToaRe will not give us the important warranty - 5(c)(ii)
below,
  because they say they can't.  They say they are not actually
"entering into
  the deal to hedge weather related risks arising in the ordinary
course of
  their business" - which is what the subject warranty says.  B&M
have
  advised that the obtaining of this warranty from a counter party
helps keep
  us in the grey and out of the red in terms of what we are doing
and also
  gives us comfort that the counter party can do the deal.

  3.   ToaRe is, in addition, separately asking us to give them
the same
  warranty.

  Jane McBride analysis

  Re 3 - Given that our legal situation is grey at best, I do not
think we
  should be giving the warranty they have requested.  They say
they will not
  give us that warranty.  The issue then is whether we can go
ahead without
  getting the warranty from them, bearing in mind that a binding
telephone
  deal has been done.

  If you agree with me that we can't give the warranty, then we
have to
  decide whether we can go ahead without getting the warranty
referred to in
  (2) above, from them.  I am not sure however that in practice we
even have
  a choice given that the trade has been done.

  If we go ahead without giving and without getting the warranty,
the risk to
  us is that we are more likely to be in breach of the prohibition
on
  gambling in the Criminal Law.  Are we willing to take this risk
and who
  needs to give me this answer?

  Jane

                      Jane McBride

                                           To:
Jeremy.Pitts@BAKERNET.com
                      10/20/2000           cc:
Paul.TYO.Davis@BakerNet.com, Alan Aronowitz/HOU/ECT@ECT, John
                      02:06 PM
Viverito/Corp/Enron@Enron, Mark Evans/Legal/LON/ECT@ECT, Jonathan

Whitehead/AP/Enron@Enron, Mark Taylor/HOU/ECT@ECT
                                           Subject:     ... Urgent
Weather Derivative Advice ...(Document link: Jane
                                           McBride)

  (See attached file:
Weather-HDD-Floor-OTC-ToaRejmb2000-10-20!.doc)

  Dear Jeremy,

  I would like to refine the following instructions.  There are
two (only)
  issues on which we need specific written advice and they both
relate to
  Warranty (c)(ii) of the draft which says "XYZ is entering into a
weather
  derivative transaction to hedge weather related risks arising in
the
  ordinary course of its business".

  1.   (a)  Can Enron Japan give the warranty at this stage in its
growth?
  Have we already had any written advice from you on whether Enron
Japan can
  warrant along these lines?  If so, when?  If not, the facts seem
to be
  that:

     Enron Japan plans to trade commodities which are energy
related but
     because we are still building up the business we are not
trading these
     products yet.
     As you know, we are getting into the power market.  If we
have done a
     weather derivative, then we can of course offer better prices
on the
     electricity deals we are negotiating.
     Other Enron companies are of course already trading many
weather
     dependant commodities and power.

  It could be argued therefore that unless we can rely on the
weather related
  risks of other Enron companies to justify our weather derivative
  transacting in these early days, that this is a speculative
transaction
  constituting gambling (depending on how the law on this works).
It is
  understandable that ToaRe would want us to warranty in effect
that we are
  not gambling because we are asking them to do so.  I know we
have had sign
  off from B&M re our weather derivative trading but I wonder if
anyone
  considered what the situation would be before we ourselves had
other
  transactions giving us weather related risks.

  (b)  If not, how could it be amended so that we can give it?

  (c)  If still relevant in the context of your answers to (a) and
(b) above,
  they did offer previously to take out all warranties so that
neither party
  gives any warranties.  The deal cannot be cancelled because it
was done on
  the telephone late Sept.  Accordingly, what is the practical
risk of us
  proceeding without the benefit of any warranties from ToaRe
(including the
  warranty that they are under the Insurance Business Law - ie an
insurance
  company.)?

  2.   They are insisting they not give (ii) and that we be
satisfied with
  (iii) only for the purposes of the Gambling Law  Pls confirm in
writing
  whether you think we can still go ahead on this basis.

  Thanks.

  Jane McBride
  Senior Legal Counsel
  Enron Japan Corp.

  Otemachi 1st Square Bldg.
  West 11th Floor
  1-5-1 Otemachi, Chiyoda-ku
  Tokyo 100-0004
  Japan

  Tel.:       81-3-5219-4500 (Main)
                81-3-5219-4553 (Direct)
  Fax:       81-3-5219-4510

  Assistant (Maggy Yamanishi)
  Tel.:        81-3-5219-4554
  Email:      Yo.Yamanishi@enron.com

                      Jane McBride

                                           To:
Jeremy.Pitts@BAKERNET.com, Paul.TYO.Davis@BakerNet.com
                      10/20/2000           cc:

                      10:57 AM             Subject:     RE: ToaRe
documentation(Document link: Jane McBride)


THE BROOKINGS ALERT
week of Monday, October 16, 2000
http://www.brookings.edu/

E V E N T S
***********************************
  AMERICAN PRIMACY: WE'RE #1, NOW WHAT?
  A Brookings Priorities 2000 (P2K) National Issues Forum, with Richard
  Haass, Lee Hamilton, Richard Burt, and Jessica Tuchman Matthews.
  Moderated by Margaret Warner. Wednesday, October 18, 2000.
  http://www.brookings.edu/comm/events/20001018.htm

  MEASURING CORPORATE PERFORMANCE IN THE NEW ECONOMY
  A luncheon discussion of three new cutting-edge studies of
  performance measurement and corporate disclosure standards.
  Tuesday, October 24, free buffet lunch at noon, discussion
  begins at 12:30pm. 538 Dirksen Senate Office Building.
  http://www.brook.edu/es/research/projects/intangibles/events/20001024.htm

H E S S  R E P O R T
***********************************
  Week six of presidential campaign TV coverage analysis by
  Stephen Hess, with data and fifth round of awards for media coverage.
  All available at: http://www.brookings.edu/HessReport/

P U B L I C A T I O N S
***********************************
  American Primacy: What to Do with It?
  New edition of the Brookings Review (Fall 2000), featuring twelve
  articles about U.S. foreign policy challenges and America's role
  in the world.
  http://www.brookings.edu/press/review/rev_des.htm

  BOOK EVENT:
  Politics & Prose Bookstore to Host Presidential Debate Program:
  "Challenges & Duties of a New Administration," a panel discussion
  with debate broadcast to follow. Featuring Bradley Patterson, author
  of The White House Staff (Brookings, 2000), Joel Aberbach, co-author
  of In the Web of Politics (Brookings, 2000), and Harry Bennet, author
  of The American Presidency 1945-2000 (Sutton Publishing, 2000).
  Tuesday, October 17 @ 7:30pm, Politics & Prose, 5015 Connecticut
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  http://www.brookings.edu/press/books/white_house_staff.htm
  http://www.brookings.edu/press/books/web_of_politics.htm

P O L I C Y  B R I E F S,
P A P E R S,  A R T I C L E S
***********************************
  "Pressure to Grow," Policy Brief #65 (October 2000)
  by Paul C. Light
  http://www.brookings.edu/comm/policybriefs/pb065/pb65.htm

  "Children in Out-of-Home Placements,"
  Children's Roundtable Report #4 (September 2000)
  by Joyce A. Ladner
  http://www.brookings.edu/comm/childrensroundtable/issue4/issue4.htm

I N  T H E  P R E S S
***********************************
  "Scratch One Rogue State?"
  opinion by Joel Wit; Dong-a Ilbo (10/13/00)
  http://www.brookings.edu/views/op-ed/fellows/20001013.htm

  "Solving Today's Defense Dilemma,"
  opinion by Michael O'Hanlon; Defense News (10/09/00)
  http://www.brookings.edu/views/op-ed/OHanlon/20001009.htm

  "Mideast needs aggressive U.S. plan to end conflict,"
  opinion by Shibley Telhami; USA Today (10/09/00)
  http://www.brookings.edu/views/op-ed/Telhami/20001009.htm

  "September was a Network Low,"
  The Hess Report by Stephen Hess; USA Today (10/09/00)
  http://www.brookings.edu/gs/projects/HessReport/week5.htm

N E W S  R E L E A S E
***********************************
  Ron Haskins is leaving his position as staff director of the House
  Subcommittee on Human Resources to join the Economic Studies Program
  at the Brookings Institution as a Senior Fellow, effective January 1st.
  His research at Brookings will focus on his areas of expertise-welfare
  reform, day care, child support enforcement, foster care, unemployment,
  and budget issues.  Complete information at:
  http://www.brookings.edu/comm/news/0010Haskins.htm

M U L T I M E D I A
 &  C H A T S
***********************************
  Oct. 19: Chat with James Lindsay about Americans and foreign policy
  --time TBA.  Submit questions in advance by going to:
  http://www.brookings.edu/comm/chat/Lindsay001019.htm

  Transcripts from previous chats on the presidential race, the economy
  and technology, social security reform, and more, available at:
  http://www.brookings.edu/comm/chat/chat.htm

E X E C U T I V E
 E D U C A T I O N
***********************************
  Brookings Center for Public Policy Education offers 16 new programs
  this year. For more information on education programs designed for
  government and business executives throughout the year, call
  1-800-925-5730 or visit the Center for Public Policy Education
  on-line at: http://www.brookings.edu/ExecEd/
_______________
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_____________________DAVID COURSEY_____________________

WINDOWS XP URBAN LEGENDS AND MYTHS--DEBUNKED!

    As the clamor about Windows XP grows--it's
         being officially launched tomorrow--so
         does the confusion. I'll take a look at the
         most common misconceptions and questions
         about licensing, authorization, and compatibility
         and give you some answers.

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819735:8593142

#

_____________________NEWS ANALYSIS_____________________

Patrick Houston

    HOW WIN XP MARKS THE END OF THE PC'S PLANNED OBSOLESCENCE

    The debut of Windows XP could stand as
    an occasion more momentous than Microsoft
    itself anticipated. Reason: At the
    same time we're saying hello to the new
    OS, we could be saying goodbye to the
    Microsoft-Intel duopoly.

     PLUS:

     APPLE REVEALS ITS 'BREAKTHROUGH' GADGET

      AS TECH SHRINKS, SO DO THE PAYCHECKS

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819777:8593142

_____________________EXPERT ADVICE_____________________

Robert Vamosi

  WINDOWS XP JUST DOESN'T CUT IT IN THE SECURITY DEPARTMENT

   Like those cheesy all-in-one stereos from
         the '70s, the components in Windows XP are
         inferior to their standalone counterparts--especially
         when it comes to security. Robert points out
         the OS's security weaknesses, and tells you
         how to safeguard your computer.

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819732:8593142

			> > > > >

Stephan Somogyi

  APPLE JUMPS INTO THE MP3 GAME--AND DOES IT RIGHT

   The just-unveiled iPod may have the distinction
         of being the first portable MP3 player to make
         the most of the genre. Stephan Somogyi investigates
         why this Mac peripheral might be worth a good
         long look (and listen).

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819780:8593142

			> > > > >

Stephen Howard-Sarin

  STAY HOME! SOFTWARE FOR SHUT-INS DOMINATES THE
  TECH INDEX

   Can you say 'agoraphobia'? The most popular
         topics on ZDNet this week are all about staying
         at home and letting the music, software, or
         business meetings come to you. Stephen looks
         at the growing popularity of home delivery.

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819748:8593142

			> > > > >

Preston Gralla

  THREE 3D SHOOTERS: PUT YOUR AGGRESSION TO GOOD USE

   Feeling a bit belligerent? Take it out on your
         PC. Preston picks three great 3D shooter video
         games that will help release your excess frustration.

http://cgi.zdnet.com/slink?/adeskb/adt1024/2819697:8593142

			> > > > >

_____________________CRUCIAL CLICKS_____________________
Make sure you see these features on ZDNet today!

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 ###


?Please provide responses to the questions on the attached document.

 <<Enron Questions.doc>>
 - Enron Questions.doc


Molly,

We would like to hire Mr Bhalachandra Mehendale for a summer position.  He is
currently working on his MS Finance at U. of Wisconsin and is scheduled to
finish December 2001.   His resume is attached.

He will be available from about  May 28 until the end of August.   Please let
me know what additional info you need research to provide.

Regards,

Stinson

 - Bhala_Resume.doc


Dan, any help would be appreciated - we are very well positioned in the
Florida market at this point.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/10/2000
08:52 AM ---------------------------

Janet R Dietrich
11/10/2000 08:11 AM
To: Dick Westfahl/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:  (bcc: David W Delainey/HOU/ECT)
Subject: Goldendale

Hey Dick, I don't want to beat a dead horse here, but I did want to reiterate
out need for  the GE 7FA's  for our Florida projects. Although I understood
from you that Goldendale was effectively done, I understand that you haven't
yet gone through the dash process, so therefore a window of opportunity. We
are looking to pay up to $40,000,000 for a GE 7FA for Ft. Pierce in addition
to a commitment on the combined-cycle EPC contract. Our customer at Ft.
Pierce is heavily engaged in finalizing contracts and will be prepared to
execute in December. We must be able to commit to them (showing title to the
que position) by then.

I'd like you to compare your anticipated earnings on the Goldendale deal with
earnings from moving this turbine to Florida. The $40 million should give you
app. $3 million above cost, as well as incremental profits from the EPC
contract. Also, you should know that we feel the Florida market has
significant upside potential for Enron from a merchant standpoint and
anticipate that our first-mover advantage will result in significant earnings.

Please let me know how you think Enron should proceed in comparing the two
projects. Thanks Dick.


---------------------- Forwarded by Paul Thomas/EU/Enron on 14/11/2001 08:15 ---------------------------
From:	Rahil Jafry/ENRON@enronXgate on 13/11/2001 14:28 CST
To:	Elizabeth Sager/ENRON@enronXgate, Kevin M Presto/ENRON@enronXgate
cc:	Harlan Murphy/ENRON@enronXgate, Heather Kroll/ENRON@enronXgate, Laura Podurgiel/ENRON@enronXgate, Paul Thomas/EU/Enron@Enron

Subject:	VEPCO

Kevin and Elizabeth,

Attached is a proposal summarizing our restructuring talks with VEPCO last week.  We had proposed to them what Kevin had suggested, and they said their view on pricing in Virginia is slightly different (at a discount to PJM/VAP as against a premium suggested by us).  They'd requested we send them some discussion points from our meeting today, so we can continue our discussions on an ongoing basis. Please review the bullet-point summary of our discussions last week, and the draft proposal.  We would appreciate your quick comments - but keep in mind, this is just to stimulate further discussions with them. Our overall objective is to migrate them to a new contract and away from their rights to audit the last few years.

Discussion summary:
?	Both parties agree that the contract needs to be revised to reflect current market conditions (pricing, liquidated damages, etc.).
?	Enron would retain flexibility around the physical delivery points.
?	VEPCO would like to continue treating this as a call option (versus a firm delivery).
?	Settlement:  Would prefer the Day-Ahead index versus the hourly index
?	Could also look at another PJM West index - VAP/Alleghany
?	Will look at alternate times for calling on power, if necessary
?	Would like to renegotiate by 12/01/01

Rahil


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Distillate     http://www.carrfut.com/research/Energy1/hoil13.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded13.pdf


Enron Broadband Services is the latest addition to the Enron SAP rollout.
The Apollo and Beyond project team and Enron's business units are currently
preparing for the project's final implementation.  Apollo and Beyond is an
Enron initiative tasked with laying a common financial, human resources,
project management, and procurement foundation throughout the majority of
Enron's businesses.

EBS "Go-Live"

On April 1st, Enron Broadband Services supplemented their current SAP
functionality with HR Online and SAP HR, including payroll and organizational
structure management.  HR Online enables the EBS population to enter their
own time, view and update their personal information, and view their vacation
time and individual payroll information via Enron's intranet.

Additionally, this implementation enhanced the SAP Financial, Project and
Procurement processes that EBS has had in operation since April 1, 1999.
These enhancements included an EBS pilot of B2B, a web-based requisitioning
tool. Among the benefits of these enhancements will be improved information
flow across business units currently on SAP.

July 1 "Go-Live"

This final Apollo and Beyond implementation will directly impact more than
15,000 Enron employees and contractors -- odds are that you are one of them!
People impacted on July 1st include:

all Enron employees paid out of Corporate Payroll in Houston, excluding
Azurix employees
the financial communities of Enron Energy Services, Enron Investment
Partners, Enron North America, Enron Renewable Energy Corporation, Gas
Pipeline Group, Global Finance, and Global Products.
the project management communities of Enron North America, Gas Pipeline
Group, Global Asset Operations, Global Finance, and Global Products.
the human resources communities of Corporate, Global E&P, Enron Energy
Services, Enron Engineering and Construction Company, Enron Investment
Partners, Enron North America, Enron Renewable Energy Corporation (Houston
only), the international regions, Gas Pipeline Group, Global Finance, and
Global Products.

General SAP training will be available in late April via the Enron intranet.
Additional, specific, SAP classes and workshops are scheduled to begin in May
and continue through August.  Information on the project can be obtained
through the Enron intranet at http://sap.enron.com and by contacting Business
Unit representatives currently working with the project.  A list of Business
Unit representatives is located on the intranet site.

Additional information related to the July 1st implementation will be
communicated to you over the next few months.

Thank you.

Melissa Becker
Project Leader, Apollo and Beyond


Dear Jason Wolfe,

Thank you for your interest in the 2002 Ford Thunderbird Premium found on a Ford Motor Company Website.  To ensure you receive our most competitive price, I am checking your request against our available inventory.

I will contact you shortly to confirm the specifications, availability and price of this vehicle, and to make sure it is exactly what you want.  If appropriate, we may review other items necessary for an efficient buying experience, including any trade-in, financing and insurance.  I would also be happy to meet with you at your convenience to answer any questions, as well as provide the keys for a test drive.  We are totally committed to customer satisfaction.

In the meantime, please do not hesitate to contact me.  I can be reached either by replying to this e-mail or by phone at 713 960-9800.

Thanks for your interest.  I look forward to speaking with you soon!

Christopher Hayes
Internet Sales


Here is the e-mail we will want to go out to the individuals listed below.
DO NOT SEND THE E-MAIL UNTIL YOU HEAR BACK FROM ME GIVING APPROVAL.  The
e-mail should be from Richard Sanders and Mark Haedicke.  Bcc James Derrick.
Also, we want to make sure that the recipients do not know who the other
recipients are.  Thanks.

_____________________________________

You have been identified as a person who may have contact with power in
California.  Based on our receipt of various subpoenas, we will be preserving
your past and future electronic mail.  Please be prudent in the circulation
of electronic mail relating to your work and activities.  Thank you.

_____________________________________

Ray Alvarez
Bill Bradford
Wendy Conwell
Jeff Dasovich
Karen Denne
Mark Haedicke
Steve Kean
Harry Kingerski
John Lavorato
Ken Lay
Sue Mara
Sandra McCubbin
Mark Palmer
Linda Robertson
Tanya Rohauer
Ed Sacks
Elizabeth Sager
Richard Sanders
Rick Shapiro
Jeff Skilling
Jim Steffes
  Greg Whalley


Best Buy and MicroStrategy Win The Data Warehousing Institute's 2001 Best
Practices in Data Warehousing AwardBest Buy Wins in the 'Performance
Management' Category For its MicroStrategy-Based Application

********************************
WATCH A PRO TRADE IN REAL TIME

AmericaInvest.com chief technical analyst Harry Boxer
has averaged returns of 2.5% PER DAY in the last 30 days.

See what Harry's trading tick by tick in his real-time
'Technical Trading Diary.'  Beat the bear market with
with both long and short trading ideas.

Sign up for our FREE 15-day trial at
http://216.133.228.197/harry/harryorderpage2.asp?MID=50009

********************************

View complete article at: http://news.stockselector.com/newsarticle.asp?symbol=MSTR&article=40832180

MICROSTRATEGY INC  3.510

MCLEAN, Va., Jun 6, 2001 /PRNewswire via COMTEX/ -- MicroStrategy(R)
Incorporated (Nasdaq: MSTR), a leading worldwide provider of business
intelligence software, today announced that the company and its customer, Best
Buy Co., Inc. (NYSE: BBY), won The Data Warehousing Institute's (TDWI)
prestig

Other Companies Involved:
BBY
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A

To unsubscribe, please go to http://www.stockselector.com/modifyportfolio.asp?portnumber=1

? Copyright 1998-99, StockSelector.com


USGT has a new rate for contract 27161 starting Novemer 1, 2001 and in effect until changed or March 31, 2003.

East to East gas Flow - $.025 - 1 part rate
East to West gas Flow - Index to Index (with a floor of $.0246/MMBtu) - 1 part rate

If you have any questions or need more details, please contact me.

Mark

Mark McConnell
Transwestern Pipeline Company
713-345-7896   office
713-822-4862   cell
713-646-2551   fax
mark.mcconnell@enron.com


Tess,

I have changed Sitara to agree with the contract.  This was changed during flash to get around some pricing errors.

D

 -----Original Message-----
From: 	Ray, Tess
Sent:	Monday, May 07, 2001 2:58 PM
To:	Farmer, Daren J.
Cc:	Meyers, Julie
Subject:	Chevron Phillips Chemical Co., LP  (HPLC 04/01 Sales/Buyback)
Importance:	High

Darren-
Please advise on the 04/01 price for sales deal #SA 413462 on this buyback (Swing deal). The contract shows the price for 04/01 should be the same price as shown for 03/01 & 05/01 (i.e. 04/01 price for deal # SA 413462 should be: 10,000 @ HSC_FLW+1HIGH GDP D.A. & 11,000 @ HSC_FLW+2HIGH GDP DA).

Thanks!
Tess Ray
tess.ray@enron.com
Contract Accountant, Gas Settlements (Sales)
Houston Pipe Line Co.
1201 Louisiana, LA 1524B
Houston, Tx. 77002
Tel: 713-571-3274     Fax: 713-646-8875


Attached is a draft press for Coburg Power regarding our decision not to renew our exclusivity agreement.  Any thoughts?

They do not have a planned release date yet, but we expect it to be sometime this week or next once they have received approval from us.

Eric


Please find attached Global Markets Monitor for the December 1,  2000.  This
is a weekly publication published by ENA Research FX and Country Risk group.
It contains current economic analysis  on G-7 countries, commodity news,
sovereign credit ratings, equity markets and central bank decisions.   Alhamo
Alkharat mentioned that you might be interested in receiving this publication
on weekly basis.  Please let us know if you would like to be added to the
weekly distribution list.

Regards,
Yana Kristal for
Maureen Raymond- Castaneda


Terry:

Greetings.  I have been reading about lliberalization of power markets in
Japan starting next year.  I wondered if you expect IBJ or any of the other
large financial institutions in Japan to make a market in power?  Would you
or someone else you know want to talk about that?  Let me know.  Hope things
are going well.

Take care.

Mark


Lisa:

This is supporting documentation for a dispute from 12/01 with BPA.  I will give you a hard copy of the request from Houston.

Thanks!


Anybody at the CFTC or on the hill we want to send brochures to?
---------------------- Forwarded by Steven J Kean/HOU/EES on 09/08/99 05:24
PM ---------------------------

David Forster@ECT
09/07/99 12:44 PM
To: Steven J Kean/HOU/EES@EES
cc:
Subject: EnronOnline

Steven,

I understand you indicated to Louise Kitchen the other day that you may wish
to provide a list of contacts to receive brochures about EnronOnline.

Could you please confirm if you wish to do this, and if so, send me the list
so I can ensure that it is included in the mailing?

Thanks,

Dave


Dear Daren:

Hoop-It-Up is coming to town!!!? Are you ready for some 3-on-3 action?

Dallas' Historic West End District will play host to the Dallas event to be
held June 23rd and 24th.? To enter, just fill out the entry form mailed to
your attention at the below address and return to us before the deadline of
June 13th.

Daren Farmer
Player ID Number 104940
5519 Clarkston
Spring, TX 77379

If you didn't receive your form, please let us know!? Simply reply to us with
your Player ID Number at info@hoopitup.com with your correct name and mailing
address.? You can also pick up an entry form at any Dallas-area Foot Locker
or Whataburger location...OR register online at www.hoopitup.com .

?
Don't get left out of the game...call our hotline at 972.392.5750 for more
information or log on to our website at www.hoopitup.com .

Special thanks to our National Sponsors for helping bring the 2001 Hoop-It-Up
Tour to your city!

Gatorade?? U.S. Army?? Slim Jim?? Southwest Airlines?? Foot Locker

*To be removed from this mailing list, please respond with your full name and
player ID number. This is the ONLY way we can find you in the system.
Otherwise you name will be included in future mailings. Thank you for your
help.


As we said before, I would like to be able to utilize Todd Hall for special
projects from time to time.  I had mentioned to Mike Jordan that once Todd
completed his CommodityLogic role that I thought that we could take some of
his time to follow up on Continental Power issues, which could fit nicely
with some work he could do on Weather in Europe.  I don't know about the one
month timeframe.  I would prefer that Todd review the initiatives and
determine the best way to proceed.  It might mean a couple of weeks over
there for starters, and then a follow up, shorter trip a few weeks later.  I
don't think that Todd is keen on any elongated stays in Europe, particularly
without the family.  Can we still use Todd ?
---------------------- Forwarded by Sally Beck/HOU/ECT on 08/16/2000 05:29 PM
---------------------------

James New
08/16/2000 07:54 AM
To: Sally Beck/HOU/ECT@ECT
cc: Mike Jordan/LON/ECT@ECT, Brent A Price/HOU/ECT@ECT
Subject: Todd Hall

Sally,

As you are probably aware the Continental Power book split project went well
but there were a number of areas which were not completed for one reason or
another but essentially IT did not deliver according to the agreed timetable.
Todd was instrumental in helping me to drive this forward and was responsible
for much of what we achieved.

As you may also be aware we had some personnel issues and there have been
significant changes in the Continental Risk Management team. We have now
recruited a strong manager in Coralie Evans from CSFB and she starts on the
29th of August. We have also added Michelle Waldhauser from the Houston Gas
Risk Management team who arrived on the 7th of August.

There are a number of issues and developments which would greatly benefit
from having Todd here in London for around a month (I say around a month as I
am guessing within this period he would want to spend some time in Oslo
pushing the weather Risk Management area forward). Attached is a page I put
together that cover our immediate needs and why Todd is ideally placed to
potentially add an enormous amount of value to the Continental Power business.

Could we please get together with Brent Price and Mike Jordan and discuss
whether Todd would be available come over.

Thanks and regards James


EOL Logon: emclaug errol5enter


I can show you what the difference is between Cheyenne Hub daily prices and CIG first of the month index prices, but that is kind of like apples and oranges.  To clarify, you do not have to buy on Enron Online (EOL), we can quote you physical prices over the phone and you can use EOL for price discovery.  You do not have to decide that now.  My recommendation is the attached:

Major changes are:

Volume - 20,000 mmbtu/d
Price - Gas Daily Cheyenne Midpoint plus $.05
Demand Charge- $6,000 per month

In addition. Enron will provide market based pricing for additional volumes above 20,000 mmbtu

All of this is of course subject to negotiation of the appropriate contracts and Enron's review of the PSCo transportation contract.

Let me know what you think.

-----Original Message-----
From: Smalley, Dave [mailto:SmalleyD@prpa.org]
Sent: Friday, October 19, 2001 10:32 AM
To: Whitt, Mark
Subject: Proposal

Mark - do you have historical information on the average price of gas sold
on enrononline vs the cig index.   This information would be helpful for us
in determining how much volume we would want to utilize on the enrononline
pricing.

		David Smalley
		Platte River Power Authority
		Phone:  970.229.5256
		Fax: 	 970.229.5223


COLUMBIA GAS TRANSMISSION CORPORATION
Notice to all interested parties
December 13, 2000

Notice ID: 2352
5 - NO RESPONSE REQUIRED

DELIVERY:

LANHAM:  There is no capacity for secondary firm customers.

MARKET AREAS 33 AND 34:  There is no capacity for ITS customers.  There is no
capacity for OPT60 customers.  There is no capacity for secondary firm
customers.

MARKET AREAS 28, 30, AND 31:  There is no capacity for ITS customers.  There
is
no capacity for OPT60 customers.  There is no capacity for secondary firm
customers.

MARKET AREAS 21, 22, 23, 24, 25, AND 29:  There is no capacity for ITS
customers.  There is no capacity for OPT60 customers.  There is no capacity
for
secondary firm customers.

Excess MDWQ            NOT Available +
ISS Withdrawals        NOT Available
SIT Withdrawals        NOT Available
Imbalance Drawdowns    NOT Available
Pal Lends              NOT Available

Excess MDIQ            Available +
ISS Injections         Available
SIT Injections         Available
Imbalance Paybacks     Available
PAL Parks              Available

+ Call Gas Control 24 hours in advance at (304) 357-2606 to request approval.

Columbia Gas Transmission has completed allocating all of its receipt and
delivery points for the gas day of December 14, 2000.  You may now view the
quantities you are authorized to flow on December 14, 2000.  On the Internet
NAVIGATOR, view Nominations, Scheduled Quantity, Scheduled Quantity for
Service
Requestor-Summary, Nominations to be Viewed, and select Reduced Nominations.
The quantities confirmed to flow for your account were available on the
Internet NAVIGATOR after 5:30 p.m. Eastern Time on Wednesday, December 13,
2000.

If you have any questions, please contact your Account Representative.


Volatile stock prices and higher interest rates are attracting new  bond
investors, but they're unsure whether to buy shares of a bond  mutual
fund or individual bonds. We weigh the merits of both.
Full  story.


Have we ever reached closure on a potential adjustment to NBP/NBPL SAP charges?  I couldn't find our last e-mails on this but my recollection is the charges to NBP companies went from $290k to $1,250k in 2001 with the increase mainly caused by an allocation methodology change from an activity measure of system usage to MMF.  NBP earnings could sure use an extra million or so!  What do you think?


Marie:  Wisconsin's lawyer is out of the office until Nov. 29.  Would you
please follow up with respect to the ISDA which we sent to him on Nov. 5?  I
left your name and phone number on his voice mail.  Cary is interested in
pursuing this counterparty.  Thanks.  Sara


Rishi:
We are not going to send back this investor list anymore.  I am going to send
both you and James an update each night that we send something out, but only
you guys make changes to the Investor List.  Also make sure that you still
send the signed CA down to us even if there are not any changes to the CA, we
need to have our legal team go through it first.  Thanks!
Ben


Greg and Kay:

Enclosed are clean and blacklined copies of the escrow disbursement
instruction letter, marked to reflect revisions from the draft previously
circulated this morning.  The revisions address Citibank's comments, as
Citibank questioned why the bulk of the funds would be distributed to
someone that had not been mentioned in the escrow agreement.  We resolved
Citibank's concern with a short reference to the April 4 letter agreement.
The signature page of the instruction letter is not affected by this change.
If you have any questions or comments, please call.  Thank you.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com

Enclosure: 139328v4
  139328vR4/3

   <<2Z$804!.DOC>>  <<2Z$8RED.DOC>>

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - 2Z$804!.DOC
 - 2Z$8RED.DOC


Carbo Loading Dinner
Unfortunately, there was not a significant response to a dinner this year, so the ERC we will not be hosting a formal carbo loading.

Marathon Day
Many of us will be meeting marathon morning at the 'E' in the George R. Brown.  I, along with a few others, will see off the marathoners and then make our way down the course to cheer on the runners at Miles 7/8, 23 and the Finish.  If you, your friends or family would like to join us, please e-mail me or leave me a voice mail at (713) 853-4770.

Massages
Attention Marathoners & 1/2 Marathoners!
Good luck to you all on Sunday!  Enjoy every step of the way (that's a LOT of enjoyment coming your way)!
And when all of those steps are behind you, you'll need a massage for your legs of steel.  So, here is the deal I have for you!  A 45-minute massage for $30!  Just contact me at 713-432-6628 or moraap@chevrontexaco.com. I will do my very best to accommodate your schedule requests.  Remember, distance running doesn't build character, IT REVEALS IT!

Happy Hoofing!
Ann Mora, 713-432-6628

Team Roster
I will be submitting a team roster, so if you're running, please provide me your name and age.  Thanks!

I wish the best of luck to all our runners who have dedicated so much of their time and energy training to meet their marathon goals.  I hope everyone runs a strong, injury-free, successful race on Sunday!
We gain strength, and courage, and confidence by each experience . . . we must do that which we think we cannot.
Ralph Waldo Emerson


Bus passes for January are now available at the Parking and Transportation office on the third floor of the Enron Building, ECN 306.  These passes are offered on a monthly basis and are provided at no charge to the Enron employee. However, because these buses passes are fully subsidized they must be treated as "taxable" income. Excluding the first $65 of the bus pass, the remaining value is subject to taxation, collectively referred to as "imputed tax". See example below

Example: A $100 pass is chosen by an employee.

Subsidy for Bus Pass		$100.00
Exclusion amount			$  65.00

Taxable Income amount		$  35.00


Introducing your first SAP Paycheck!

This is the first payroll processed in SAP for all employees paid out of
Corporate Payroll. You may notice some changes in the way information is
reflected on your pay advice, the most common are itemized below.

What,s Different?
? Your +home, cost center will be displayed at the top of the pay advice.
This is your department number as designated in the HR and financial modules
of SAP.

? Any earnings descriptions that start with a +P, represent earning types
reported in the prior period. For instance, if you reported vacation time for
the July 1st-15th pay period, it will be reflected on your July 31st pay
advice as +PVacation,.

? Flex dollars will appear on the earnings section of the pay advice instead
of as a credit in the deduction section. The various benefit deductions will
remain itemized in the deduction section.

? If you transfer between Enron companies during the year, your year)to-date
totals will carry forward to the new company pay advice. Previously, the
year-to-date totals started over when transferred to another company. This
change will provide your total Enron earnings and deduction amounts on your
pay advice throughout the year.  (Note that your W2 at the end of the year
will reflect your earnings by company).

? For salaried employees, any reported exception time (e.g. vacation, sick
day, etc.) will be reflected on the earnings section with hours only, the
related dollar amount will be included in the +Salary, earnings type.

? For any other information or further explanations regarding your payroll
contact the Payroll Call Center at 713-345-5555

Payroll FAQ,s

My paycheck has a line called &other deductions8, what does that stand for?
There is a fixed amount of lines to print deductions on the paycheck.  For
some employees, the number of deductions are more than we have room to
print.  In this circumstance, the system totals all remaining deductions and
prints them on one line ) titled &other deductions8.  The detail of all
deductions can be viewed on the pay advice that is displayed on the intranet
at eHRonline.enron.com.

What do the earnings or deduction codes on my paycheck mean?
These definitions are listed on the Payroll webpage located at
hrweb.enron.com, select Enron Payroll  from the side index.

Why is my overtime not reflected on my paycheck?
Overtime is paid one pay period in arrears, therefore it will be reflected in
the next pay period. For example, if you reported overtime for the
July 1st )15th pay period, it will be reflected on your July 31st pay advice
as +POvertime,.

What is the limit for Social Security (FICA)?
For year 2000 the limit is $4,724.40 on a wage base of $76,200. This limit is
applied to each Enron payroll tax company. Therefore, if you transfer to
another Enron company these limits will start over, however, the total amount
withheld across all companies will be reflected on your paystub. Excess FICA
will be credited to you by the IRS via your tax return.

What federal income tax rate is used for my bonus or when I exercise stock
options?
There is a standard federal income tax rate of 28% for these earnings. This
can be higher if the employee has completed a Supplemental Tax form
requesting a higher rate (this form can be found at hrweb.enron.com , select
Enron Payroll  from the side index).


"bunnies"?  BUNNIES?

Louise Kitchen
11/05/99 08:36 AM
To: Mark Taylor/HOU/ECT@ECT, Justin Boyd/LON/ECT@ECT
cc:
Subject: First Registration Form

---------------------- Forwarded by Louise Kitchen/LON/ECT on 05/11/99 14:38
---------------------------

David Port
05/11/99 09:28
To: Louise Kitchen/LON/ECT@ECT, Jay Webb/HOU/ECT@ECT, David
Forster/LON/ECT@ECT, Marcello Romano/LON/ECT@ECT
cc:
Subject: First Registration Form

Looks like we had our first registration form in today from a company called
Projector S.A. with a rep office in Singapore and trading out of Belize.
Nice one for the Credit Tax and Legal bunnies....


Valeria:

3:30pm tomorrow the 9th will be fine.  We will have to change the schedule
a little bit, but I believe it will work.

Kevin Kindall   3:30 PM
Grant Masson   4:00 PM
Tanya Tamarchenko  4:30 PM
Vince Kaminski  5:00 PM

Same scenario - upon arrival in the lobby go to the security desk and ask
for me.  I will meet you in the lobby of the 19th floor.

Thanks so much for your flexibility!

Shirley Crenshaw

Valeria.I.Stone@EXXON.sprint.com on 09/07/2000 08:56:24 AM
To: Shirley.Crenshaw@enron.com
cc:
Subject: RE: Informal Exploratory Interview with Enron Research Group

         Date: September 7, 2000
         From: Stone, V.I. (Valeria)                       VISTONE  - AMERICAS
           To: EXT-SHIRLEY.CRENSHAW(A)ENRON.CO             SHIRLEC1 - FPEXMAIL
      Subject: RE: Informal Exploratory Interview with Enron Research Group
------------------------------------------------------------------------------
Sure, tomorrow is fine with me.  Is it possible to schedule it at 3:30 PM?

And I am sure it is not an easy task to fit the schedule of several people to
be available at the same time window.  So please feel free to let me know if
you will need to do another time adjustment.

-----Original Message-----
From: EXT-SHIRLEY.CRENSHAW(A)ENRON.CO
Sent: Thursday, September 07, 2000 9:47 AM
To: Stone, V.I. (Valeria)
Subject: RE: Informal Exploratory Interview with Enron Research Group

Valeria:

Please do not think we are always this unorganized, but things just seem
to be happening right now and it is disrupting everyone's schedule.

Would you possibly be able to come tomorrow the 8th?  Kevin Kindall
will not be here on the 15th and he would definately like to interview you.
Then Vince Kaminski will be gone for two weeks after the 15th.  It seems
like tomorrow might be the best time for everyone, if it is for you.

We can begin the interviews at 3:00 PM and probably end them at 5:00
or 5:30 pm.

Please let me know.

Thanks so much for your understanding.
[Stone, V.I. (Valeria)]  :
Regards,

Shirley Crenshaw

Valeria.I.Stone@EXXON.sprint.com on 09/07/2000 07:46:13 AM

To:   Shirley.Crenshaw@enron.com
cc:
Subject:  RE: Informal Exploratory Interview with Enron Research Group

         Date: September 7, 2000
         From: Stone, V.I. (Valeria)                       VISTONE  -
AMERICAS
           To: EXT-SHIRLEY.CRENSHAW(A)ENRON.CO             SHIRLEC1 -
FPEXMAIL
      Subject: RE: Informal Exploratory Interview with Enron Research Group
------------------------------------------------------------------------------
[Stone, V.I. (Valeria)]  0
Definitely - any of these days sound good to me.  The only concern that I
have, is that I have my graduate class on Thursday night at 6 PM which is
September the 14th.
So if you will schedule the interview on the 14th of September, I would
need
to leave around 5:15 PM so I could attend  my  class.

It actually might be more convenient for me to meet with the interviewers
on
the 15th of September.  If this day does not fit the schedule of any of the
interested in interviewing individuals, I surely will be able to meet with
them on the 14th.

I will be looking forward to your reply.

Sincerely,

Valeria Stone

-----Original Message-----
From: EXT-SHIRLEY.CRENSHAW(A)ENRON.CO
Sent: Wednesday, September 06, 2000 4:32 PM
To: Stone, V.I. (Valeria)
Subject: RE: Informal Exploratory Interview with Enron Research Group

Valeria:

Would you be able to do the interview on the 14th or 15th instead of the
13th?  Vince Kaminski, who would really like to interview you, has been
called out of town on the 13th.  He will be back on the 14th.

Also Grant Masson is conducting an Options Seminar on the 13th and
would not be able to interview you until after 5:00 PM.

Please let me know if we can just push the interview to the same time
frame only on the 14th or 15th.

Thanks!

Shirley Crenshaw
713-853-5290


Sally
I will give some deep thought over the weekend in the meantime here are some
current thoughts regarding Brent's trip
First I am hopeful that a letter will go out regarding Brent before his trip
and that it clearly states that Brent will continue to report directly to
you (that sends a powerful message locally and globally) Is that going to
occur?
Assuming the above takes place what is the messaage you (Sally) want Brent
to convey on your behalf at each and every meeting he attends with his and
your people.  Thirdly I would suggest that Brent and Scott not try to hit a
homerun on this first trip. You as well as Brent and Scott do not need to
win the respect of Shankman so I strongly urge consistency, maturity and
incredible listening skills in fully understanding the DEPTH and exact
nature of the problems arising so solutions arise from the strength of the
data surrounding the core issues.

I would prepare Brent with any language you would want him to appropriately
respond to possible questions from Sheriff, Dyson, Jordan or anyone else for
that matter who might want to probe into whether all of operations is going
to roll up under you.

Until you have your meeting with Frevert I would offer that any questions
that may come Brent's or Scott's way simply be diplomatically deferred. Have
them make simple I statements "All I know is that my role here is to....."
I can't speak to what might be happening with other product lines."

I will read closely your notes, please have mary solmonson give you a copy
of Freverts talk at the global systems gathering and see if there are a
couple of connection points for you to gateway your vision for global
consistency to align with his.

1) My (Sally) vision for this looks like this....
2) Why it makes sense to do this now? What's at risk if we don't do this
now? Paint a relistic yet challenging picture in hopes that he asks, Are you
Sally up to the challenge?
3) Others support this as well (Does he care, if so who else?)
4) I want to move forward effective .....Do I have your support

If you have some time on Monday let Patti know and I will give you a call.
Assuming that a letter goes out on Brent will you put a letter out on ENA
Risk, Settlementges, Logistics, other staff changes such as Scribner,
Sheila, Hall, etc. If you do not have the time to write it up let me know
and I can support you with a draft for your modification, however I would
want to talk specifics Monday.

I am very excited for you and the organization and remain hopeful that this
is yet another growth experience preparing you for an even greater role

Regrds

Tom

------Original Message------
From: "Sally Beck" <Sally.Beck@enron.com>
To: tom.hopwood@gte.net
Sent: August 11, 2000 7:15:12 PM GMT
Subject: Meeting with Mark Frevert - Should We Move It Up?

FYI:  Rick agreed with the attached note that I sent him.  By voice mail, I
suggested Ted Murphy as a substitute for Rick Buy for the meeting.  We are
set
for next Thursday, August 17 at 11:45 in Rick Causey's office over lunch.  I
am
meeting with Ted this afternoon to fill him in on the purpose of the meeting
and
to be certain that I have his support.  Rick Causey suggested citing some of
the
items in my memo to him when we get with Frevert.  Any words of wisdom or
suggestions for the meeting?

Hope that everything is fun and relaxing in Maine.  --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 08/11/2000 02:10
PM
---------------------------

(Embedded     Enron North America Corp.
image moved
to file:      From:  Sally Beck
pic03509.pcx) 08/10/2000 04:17 PM

To:   Richard Causey/Corp/Enron@ENRON
cc:
Subject:  Meeting with Mark Frevert - Should We Move It Up?

Not surprisingly, the organization is moving faster than Rick Buy's vacation
schedule.  Our meeting is set with Mark Frevert, Rick Buy, you and me on
August
28 -- two weeks from next Monday, dictated by Rick Buy's schedule.  I am
concerned that waiting that long to get with Mark to discuss the potential
formalization of a global risk management operations role will put us behind
the
curve.

Mike McConnell and Jeff Shankman plan to release a memo tomorrow on the
structure of the Global Markets team, which will include a discussion on
Brent's
role and reporting responsibilities.  Brent and Scott Earnest are flying to
London next Monday evening to spend the remainder of the week in that office
to
iron out details on supporting the global markets businesses.  Many of their
discussions will be with Mike Jordan and some logical points will be raised
around co-ordination between EEL and EGM.  In a conversation with Gary
Hickerson
on Tuesday regarding his business, he stated that he wanted to be sure that
I
had responsibility over London operations, as he will have support personnel
in
London and wants to be certain that efforts are coordinated.  Separately,
Jeff
Shankman said that he was certainly comfortable with Brent in the
Operations/CAO
role but that he wanted Brent to report to me to ensure consistency, access
to
support resources and logic around systems issues that cut across the ocean.
I
told him that you and I had had discussions about a more formalized role to
encompass responsibility for London and that we had a meeting planned with
Mark
Frevert on August 28.  That's a lifetime to a trader, and Jeff said he hoped
that we could nail that down before the end of the month.

What are your thoughts about an earlier meeting with Mark Frevert?  The
summary
of doorstep findings can be finalized early next week.  I have checked
Mark's
travel schedule.  He will be in the Houston office next week, with Thursday,
August 17 as the best day to potentially schedule a meeting.

I am not trying to rush this process, yet I know that by the end of August
much
will have been decided around coordinating between ENA, EGM and EEL
operations.
I would like to be in a position to help guide those decisions, rather than
arrive at the party late.


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Check the eSource training page at http://esource.enron.com/training.doc for
additional training sessions and vendor presentations

http://esource.enron.com


Gwynn,

Sally wasn't quite sure what you wanted.  She put together a little something
- if you can use it fine, if not, that's fine too.

Opportunities for accounting professionals in traditional and in
non-traditional roles, such as transaction structuring, risk analysis and
commodity operations.

Patti x39106

Gwynn Gorsuch@ENRON
03/28/2001 01:56 PM
To: Sally Beck/HOU/ECT@ECT, Ted C Bland/Enron@EnronXGate, Kim
Cadena/HOU/EES@EES
cc: Laura Schwartz/Corp/Enron@Enron, Cindy Olson/Corp/Enron@ENRON, Richard
Causey/Corp/Enron@ENRON
Subject: National Association of Black Accountants

Laura Schwartz and I are working on pulling together the article that goes
with the photo taken last week for the NABA national newsletter.  We get
approximately 550 words to tell the Enron story in anticipation of our
recruiting presence at the NABA national conference in July.  Are there any
particular messages you would like us to get out there with regard to
opportunities in EWS and EES for accountants?  Please let me know your
thoughts before the end of next week (the sooner the better - the final due
date for photo and story is April 13).

Many thanks

Gwynn Gorsuch
Enron Corp.
Workforce Diversity
713.853.7407 direct line


Go ahead and level the floor in #2.


Dear Susan Scott,

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Please see attached.  I am available to discuss.


Attached, as we discussed, are draft confidentiality policies and procedures
regarding credit derivatives, along with a draft letter to Reference
Entities.  Please call to discuss at your convenience.  Best regards.

----------------------------------

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

 - cdpro.wpd
 - cdltr.wpd


You have received this message because someone has attempted to send you an e-mail from outside of Enron with an attachment type that Enron does not allow into our messaging environment. Your e-mail has been quarantined and is being held at the MailSweeper server.

Sender:  owner-el00-95@listserv.gsa.gov
Date:  Tue, 20 Nov 2001 17:44:43 -0500
Subject:  Competitive Supplier Group Response to Data Requests of California Parties Email 2 of 4
Attachment Type: Scenarios/Incoming/Inbound CMD Catcher: A filename matching the file mask was detected: 'cjca.cmd'.
Scenarios/Incoming/Inbound CMD Catcher: A filename matching the file mask was detected: 'emergncy.cmd'.
Scenarios/Incoming/Inbound CMD Catcher: A filename matching the file mask was detected: 'cjc7.cmd'.

If the intended email is of valid business-related content and you believe it requires Enron resources to retrieve it, you may call your Help Desk and ask to have it released from quarantine and delivered to your e-mail Inbox. Your message will be scanned and checked for viruses prior to requested release.  If it contains a virus or there is reason to suspect it is malicious code, it will not be delivered.

North American Resolution Center: 713 853 1411
European Resolution Center: 0044 207 78 36777
EES Help Desk: 888 853 9797
ETS Solution Center: 713 345 4745 (Houston) or 402 398 7454 (Omaha)

Please DO NOT reply to this address as it is not a monitored system mailbox.


Gentlemen, as we speak Enron's Credit and Legal teams are conversing on the
best way to approach, either an ISDA or a Long Form Confirm, for "papering"
the requested financial hedge.  Once Enron Credit is "comfortable" with
Bellingham Cold Storage (BCS), Legal will prepare the necessary
documentation, once approved by BCS/John Cameron, I will quote work up some
July executable numbers and attempt to contact the Robert, Doug, John C.
This will require everyone's joint efforts in order to accomplish this in
such a short time line.  BCS and John Cameron should anticipate a call from
either or Enron's Credit and Legal personnel.  Thanks,  John

	Enron Capital & Trade Resources Corp.

	From:  Robert McCullough <robert@mresearch.com>
06/30/2000 06:55 AM

To: John Malowney <John.Malowney@enron.com>
cc: Doug Thomas <Doug.Thomas@bellcold.com>, John Cameron
<johncameron@dwt.com>
Subject: Good morning!

We need numbers as soon as possible this morning -- also these must be
serious -- not notional.

I am at 771-5090.  I will be available at 784-3758 all day.  My email
follows me around so you can always get me  on email.


Your seat location is:  	Section	118
			Row	1
			Seats	109-112

Patty Parker
Director of Ticket Operations and
Community Relations
214.638.2695
patty@swbellcottonbowl.org

 -----Original Message-----
From: 	Giron, Darron C. [mailto:Darron.C.Giron@ENRON.com]
Sent:	Friday, October 05, 2001 10:03 AM
To:	big12@cottonbowl.com
Subject:	Big 12 Championship Seats

I would like to know my seat location when it has been assigned. I
ordered 4 tickets.  Thanks.

Darron Giron

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


---------------------- Forwarded by Dana Davis/HOU/ECT on 04/17/2000 01:58 PM
---------------------------

"blackhead1" <blackhead1@email.msn.com> on 04/16/2000 05:50:00 PM
To: <Dana.Davis@enron.com>
cc:
Subject:

 - Fartmachine.exe


Here 'tis:


David:
Here are some more EDR files.
Ben
---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 12/06/2000
11:13 AM ---------------------------

	Enron North America Corp.

	From:  Mitchell Hurt @ ENRON                           12/06/2000 11:11 AM

To: Benjamin Rogers/HOU/ECT@ECT
cc: Gus Eghneim/Corp/Enron@Enron, Ross Newlin/HOU/EES@EES
Subject: BPI EDR reports

Ben,

As requested I have attached BPI's 2nd QTR EDR reports for your review,
comment and record.  I do not have a "Final" or accepted 3rd QTR EDR from the
EPA yet.

Respectfully Mitchell

From: Gus Eghneim on 12/04/2000 02:03 PM
To: Benjamin Rogers/HOU/ECT@ECT
cc: Don Miller/HOU/ECT@ECT, Mitchell Hurt/Corp/Enron

Subject: Re:

There is only one quarterly report required for Brownsville. This is the EPA
electronic data report (EDR) which we generate from the CEMS system and
submit electronically to the EPA.

Mitchell - Since you are generating the 3rd quarter reports to the EPA today,
would you please copy Ben on the submittal. Thanks.

Gus

	Benjamin Rogers@ECT
	12/04/2000 01:08 PM

		 To: Gus Eghneim/Corp/Enron@Enron
		 cc: Don Miller/HOU/ECT@ECT
		 Subject:

Gus:
Do you happen to have or know where the CEMS Quarterly Report for Brownsville
may be.  Thanks!
Ben
3-7998


Set up by Melissa Jones (ND)


UH Recruiting Team -

This is a reminder about tonight's UH recruiting event.  The details are as follows:

Date:		Mon, Oct 15th
Time:		7:00pm
Location: 	UH Hilton - Shamrock Rm

Parking is available at the Hilton in its underground parking lot.  You will have to purchase a token at the Hilton Front Desk prior to leaving.  The A/A program will reimburse you for parking.

Attached are the job descriptions for both the Analyst and Associate.  I will be coming by this afternoon with brochures which outline the program in more detail.

Thanks so much for your assistance and I look forward to seeing everyone there.

Regards,
Tracey Kozadinos
Specialist
Risk Assessment & Control
713.853.3446


The latest version of the EEI-NEM Master Contract now can be downloaded from
EEI's website at  http://www.eei.org/issues/contract/.  We only ask that a
short registration form be filled out first so that we can better serve the
community interested in using the contract.  We are making the contract
freely available, multiple copies may be made, our only restriction is that
the contract not be resold.  We also request that attribution to EEI and NEM
be given in all copies of the contract.

Our intention is to use the EEI website and listserver as tools to help
promote dissemination and use of the contract.  For instance, we could make a
listing of companies using the contract on the website.  Also, we are
considering posting on a periodic basis responses to requests for
clarification or interpretation of the contract terms that would be of
interest to the user community.  Please let me know if there are other
enhancements that you would find helpful

Regards,

Andrew S. Katz, Director Industry Legal Affairs
Edison Electric Institute
701 Pennsylvania Avenue, N.W.
Washington, D.C.  20004
Voice:  202-508-5616
Fax:     202-508-5673
e-mail:  akatz@eei.org

 - Andy Katz.vcf


Hi Hoon,
call me when you have a chance
I just got back from lunch
Love
me


Liz is an MIT graduate and is currently at Exxon and  very interested in a
job at Enron.
I would take her in my group but we are neighbors and I don't want to mix
that with work.  Pat

"Carl & Liz Fortin" <zilrac@email.msn.com> on 03/29/2000 10:32:02 AM
To: <patclynes@enron.com>, <pclynes@enron.com>
cc:

Subject: resume attached

 - 01-00.doc


Start Date: 1/24/02; HourAhead hour: 7;  HourAhead schedule download failed. Manual intervention required.


I forgot to tell you - I tried to call you from my cellular when I was coming
back from Jerry's yesterday.  I kept getting a message like "We're sorry,
this number does not accept calls from unidentified numbers"  or something
like that.  I had that same problem with Mr. Homco's home phone number a
couple of weeks ago.


great!

-----Original Message-----
From: Cash, Michelle
Sent: Monday, October 22, 2001 7:11 AM
To: Hansen, Leslie
Subject: RE: Santa Lunch

count us in.  thanks.

-----Original Message-----
From: Hansen, Leslie
Sent: Sat 10/20/2001 3:41 PM
To: Cash, Michelle
Cc:
Subject: Santa Lunch

Would you guys like to go to the Junior League Santa Lunch on Saturday, Dec. 1 at 11:30 am?  It thought it would be a fun play group outing.  $16/person, includes a picture of Cameron with Santa.  I need to make the reservation asap because they fill up quickly so let me know.

Leslie


---------------------- Forwarded by Eric Bass/HOU/ECT on 04/07/2000 03:44 PM
---------------------------

Matthew Lenhart
04/07/2000 03:12 PM
To: Timothy Blanchard/HOU/EES@EES, Eric Bass/HOU/ECT@ECT, val.generes@ac.com,
Susan M Scott/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT
cc:
Subject: The Joys of Marriage

this is the funniest email i have ever received.  send it on to people b/c i
cant think of anyone to email
---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 04/07/2000
03:09 PM ---------------------------

Shirley Elliott <shelliott@dttus.com> on 04/07/2000 09:54:13 AM
To: jjohnson@daewoous.com, kmcgallion@king-ranch.com,
Terri@EDIarchitecture.com, waldron50@yahoo.com, Sablica@compuserve.com,
scody@acplasticsinc.com, sclarkson@tractebelpowerinc.com,
Chad.Landry@enron.com, Matthew.Lenhart@enron.com, matthew.overbeck@ac.com,
JohnWheeler@PZLQS.com, hallieklassen@usa.net, j.cruthis@mail.utexas.edu,
AChang01@coair.com, Liz.Mortenson@chron.com, Allison Damon
<adamon@dttus.com>, Michael Lednicky <mlednicky@dttus.com>, Todd Rimmer
<trimmer@dttus.com>, Chris Strain <cstrain@dttus.com>
cc:

Subject: The Joys of Marriage

> I've got game....'Ole!
>
>
>
> Subject:      FW: The Joys of Marriage
>
>  <<cuddles>>
>

 - FARTINGI.AVI
 - RFC-822.TXT
---------------------------------- Forwarded
----------------------------------
From: mwilkerson@ajilon.com at Internet-USA
Date: 4/7/00 8:50AM -0500
To: Shirley Elliott at DTT.US.HOUSTON
*To: AMorse@EMJMETALS.COM at Internet-USA
*To: hymela@netsolve.net at Internet-USA
*To: bretts@mail.utexas.edu at Internet-USA
*To: brian.sorensen@chase.com at Internet-USA
*To: vmw@ispchannel.com at Internet-USA
*To: Elrhea.stockton@dcicorp.com at Internet-USA
*To: jdryer@kpmg.com at Internet-USA
*To: jwaldman@ers.state.tx.us at Internet-USA
*To: jim_stiffler@dell.com at Internet-USA
*To: keith.hatley@allegiancetelecom.com at Internet-USA
*To: sablica@compuserve.com at Internet-USA
*To: mark_hooper@dell.com at Internet-USA
*To: Michael_Ecklund@hines.com at Internet-USA
*To: r8834c@email.sps.mot.com at Internet-USA
*To: dmehta@uth.tmc.edu at Internet-USA
*To: mdeshotels@rightnowtech.com at Internet-USA
*To: pavri@bplaw.com at Internet-USA
*To: pconnor@us.ibm.com at Internet-USA
*To: RMoser@EMJMETALS.COM at Internet-USA
*To: ryane@tocquigny.com at Internet-USA
*To: Schoelpple@yahoo.com at Internet-USA
*To: swlh@excite.com at Internet-USA
*To: hookem@ev1.net at Internet-USA
*To: wwindom@aol.com at Internet-USA
*To: waldron50@yahoo.com at Internet-USA
Subject: The Joys of Marriage
------------------------------------------------------------------------------
-


Message sent in error ?..

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	22 October 2001 19:39
To:	Grigsby, Mike; Allen, Phillip K.; Gay, Randall L.; Sullivan, Patti; Groenewold, Shannon; Smith, Matt; Holst, Keith; Lisk, Daniel; South, Steven P.; Ermis, Frank; Lenhart, Matthew; Kuykendall, Tori; Miller, Stephanie; Tycholiz, Barry; Ward, Kim; Dasovich, Jeff; Cantrell, Rebecca W.; Lawner, Leslie; Reitmeyer, Jay
Cc:	Tholt, Jane M.
Subject:	Socal Window Meeting

Attached is a summary of my notes at the Socal meeting regarding revised window procedures.  No hand-outs were provided.

Calculation of Receipt Point Capacity
Topock  540 mmcf/d
Ehrenberg 1250 mmcf/d
Needles 800 mmcf/d
Wheeler 800 mmcf/d

New Receipt Points
Kramer Junction 200 mmcf/d
Hector Rd 50 mmcf/d
Both will be available around Feb 1

Basis of Pro-Ration-Current Windows Calculation
Currently, Gas Control provides total receipt point capacity comprised of demand forecast and injection capability and compares to maximum amount of gas that can enter system.  Gas Select prorates interstate's receipt capacity based on prior day's nominations.

New Calculation, Changes and Display
Based on operational maximum with adjustments for maintenance.  SoCal ist aking and applying the current formula for Wheeler Ridge to all the points.  Any changes to operational maximum will probably be due to maintenance and posted on Gas Select.  Customer will choose which points it wants to reduce receipts.  Operating maximums will equal demand forecast plus injections.  Demand forecast will rely on Gas Control weather forecast.  They use Weather Bank as one of their tools.

OFO Declaration
Name changes from overnomination
Can declare before any Cycle
Provide 2 hour notice
Post on Gas Select
Show OFO Calculation on Gas Select

Windows
Reason to set windows was to set limits to prevent too much gas from coming into system
Calculation based on noms which does not work well.  Lots of complaints.   People were complaining that it restricted access to the system.  Eliminating point specific calculation.  Open system to Max Oper. Limits or Contractual Limits.   Will continue to operate Wheeler Ridge under Aug 1 procedures.  No changes to Wheeler Ridge.
Due to the need to maintain operational control, an OFO will be declared when scheduled volumes are greater than the max operating capacity on any cycle.
Replace windows with operational maximum volumes.  If  CPUC approves comprehensive settlement, will post 5 days of information to anticipate OFO's
Now customers will elect which point they will back off instead of using windows.

Scheduling Changes-Nov 1
Gas Select is being rebuilt and will be an internet system in mid-2002 .  No direct dial-up.
Rollover noms-noms will be copied from cycle to cycle
Copy confirmed noms
All noms will be rolled over-will not be at discretion of 3rd party.  However, can still make  changes.  Can still upload new files.

2 Hour Notice
Socal will provide 2 hour notice on  Gas Select of OFO.  Other methods include leaving message on Socal Hotline (213-244-3900) and list of e-mail messages that can go directly to pagers.  Gas Select is official notification.  Courtesy notification is hot line and e mail.  Gas Select is a subscriber- based system mandated by CPUC and must get regulatory change to make free.
OFO's are going to be system wide and not customer specific.  OFO's can be declared intraday.  Once OFO declared, it will be kept for entire day.  Concerned that if call off, will have to put back on.  Don't want to go back and forth.  This decision may be reconsidered once they see how it works.  Many times Socal see an increase of 200 mmcf/day between Cycle 3 and 4 so they are concerned.

Scheduled vs. Capacity-Declare OFO
Nominations may not exceed 110% of expected usage.
Expected Usage is defined as usage for the same day for the prior week.  Can revise expected usage.
No interruptible storage injections allowed during OFO.
Use Elapsed Pro-Rata Rules
Expected Usage-cut nominations to 110% of expected usage so will use same day  of the prior week as proxy.  Generators need to revise expected usage.  Acceptance of changes are at the discretion of SoCal.
Flow Day Diversions don't go into effect until after Cycle 4.  Gas Control will determine if flow day diversion will be allowed.
If call OFO after cycle 3 or 4 and have interruptible storage injections, such storage will be prorationed back under the elapsed prorata rules.
Many people were concerned that interruptible storage will be severely compromised.
If OFO called , Interruptible Storage could be cut under the elapsed prorata rules as follows:

Cycle 1    Nom 1000  ; 0 cut
Cycle 2 Nom 1000; 666 cut
Cylce 3 Nom 1000; 500 cut
Windows will only be implemented during cycle 4 if OFO callled after cycle 3 and no improvement is realized.  Will allocate prorata.  Will use latest scheduled volume and will pro rate by receipt point.  In other words, if OFO declared during Cycle 1 and no relief after 3 cycles, Socal will window Cycle 4 and prorata cut. Parties will determine what gets cut on all the other cycles. For penalty purposes, actual burn from 12 o'clock to 12 o'clock will be used to calculate penalties or MAXDQ if not metered.
For OFO, assume supply delivereis day before and burn is the same day for the prior week.  Declare OFO on prior day's scheduled volume.

For an evening declaration-will use most recent available scheduled volumes.  For example:

         Flow Day 10/4                10/3 Scheduled Volumes
Cycle 1                                    Cycle 2
Cycle 2                                     Intraday 1
Cycle 3				evening cyle 2 on 10/4
Cycle 4                                     Intraday 1 on 10/4

In other words, will look at evening cycle 2 scheduled volumes on the 3rd for declaring OFO on cycle 1 for the 4th.; look at intra day 1 for the 3rd in declaring OFO for cycle 2 on the 4th;  look at evening cycle 2 on 10/4 in declaraing OFO for Cycle 3 on the 4th;  look at intraday 1 on the 4th in declaraing OFO on cycle 4 for the 4th.

Winter Balancing Rules
Effective Nov 1-March 31
No changes.
All customers must comply.
Minimum delivery requirements
50% of daily usage over 5 day period; (Nov 1-5;6-10;)
70% of daily usage depending on storage level
70% daily usage implemented when storage levels equal 20 bcf above peak day min
90% of daily usage depending on storage level
90% rule implemented when storage levels equal 5 bcf  plus peak day min.
Look at storage graph on Gas Select.  Posted 24 hours in advance if the minimum daily is changed.  If go to 70% , current 5 day cycle must end completely, before new % goes into effect.
Must increase storage inventory by 1 bcf above the 70% before going back to 50% rule.
Once 90% rule implemented, will return to 70% as soon as operationally feasible,

Contracted Marketer's customer usage and delivereies are aggregated in one balancing account.

Core Aggregation-subject to 50% daily throughout entire winter period based on DCQ.
Core-50% of daily throughput for the enitre period,; (Patrick Brown group)
Not subject to 70% and 90% rules.

2 types of gas count toward daily obligation- firm storage withdrawal and flowing gas.  As-available storage and imbalance trading do not count.

Burn=measured daily usage thru electronic measurement,
Min DQ-used if customer does not have electronic measurement.

Customer assessed  GIMB charge if total deliveries is less than 50% of total burn over 5 day period.  Customer purchases gas at daily balancing stand-by rate under  G IMB Rate Schedule which is 150% of highest Socal Border price per NGI Gas Daily plus franchise fees and other charges.  Rate is posted at end of every month.

OFO can be declared during undernom season (winter season)


hi


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 04/30/2001
10:36 AM ---------------------------

Alan Comnes
04/27/2001 01:38 PM
To: Phillip K Allen/HOU/ECT@ECT
cc: Joe Hartsoe/Corp/Enron@ENRON
Subject: Request from Steve Kean

Phillip,

I got this request.  On the gas side, I think Kean/Lay need an update to a
table you prepared for me a few months ago, which I've attached..  Can you
oblige?  Thanks,

Alan Comnes

---------------------- Forwarded by Alan Comnes/PDX/ECT on 04/27/2001 01:42
PM ---------------------------

Janel Guerrero@ENRON
04/27/2001 12:44 PM
To: Alan Comnes/PDX/ECT@ECT, Jeff Dasovich/NA/Enron@Enron
cc: Paul Kaufman/PDX/ECT@ECT, Richard Shapiro/NA/Enron@Enron

Subject: Request from Steve Kean

Alan,

Steve has asked that you update the power point below so that it reflects all
of the "stupid regulatory/legislative decisions" since the beginning of the
year.  Ken wants to have this updated chart in his briefing book for next
week's "Ken Lay Tour" to CA.

He also wants a forward price curve for both gas and power in CA.  Can we get
these three documents by Monday afternoon?