Prepared in contemplation of litigation -  Attorney Client Privilege

There appears to be no succinct way to write down my thoughts on where we are
with El Paso but I'm going to try.

Assumption:
Kilgore's objective:  Maintain PRM accounting treatment for the swap.
Outcome of lawsuit:   Game Over for Kilgore if his accountants disagree with
the current PRM treatment and move it to debt thus affecting his      ratios
and revolver.

What do we want?
(i)  To be certain of payment - how important is this really?  Pretty
important - but what is this worth is cash terms.  We clearly are in a
position   whereby if El Paso evers transfers the contract to an entity which
defaults on payment we are exposed.  However,  realistically what are the
chances  of them defaulting - very low and, would we win that in court - Yes.
(ii)  To monetize the contract - secondary concern with a value to Enron of
$15m.  There are potential ways that we could monetize the contracts
without disclosing the contract - Joe is working on these.    If there is a
way we can do this then our downside from this confidentiality issue is
much   smaller as it would cost us more to monetize (thereby bringing in less
gain - probably not much of a difference) but can we get the asset off the
book?  We are pursuing how far we can get  in terms of 'true sale' treatment
with V&E - they will give Joe a view on Wednesday.  There are potential
other   ways we can ensure this is off our credit.

If we sue them?  Loss of leverage.
We potentially open up the issue to a much wider audience and potentially
affect Kilgore's accounting treatment - the one thing he wants.  So our
leverage has disappeared as we are no longer able to maintain the one thing
Kilgore is looking for.

Way Forward:
We should continue to pursue a commercial solution to the payment issue and
monetize the contract through a secondary route.  If we complete monetization
through another route then we are exposed to non-payment which could be
perceived as very low risk (we have potentially a one year exposure on the
back end based on six years statute of limitations).  If we cannot get a way
forward on the monetization , then re-review the way forward. We are at risk
of them suing us over the confidentiality breach and that would be in New
York.

Good Luck!

Prepared in contemplation of litigation -  Attorney Client Privilege


Hi Maria -

To my knowledge, Mr. Lay has not received his locker assignment.

Thanks.

Rosalee Fleming for Ken Lay.

From: Maria Mitchell/ENRON@enronXgate on 02/26/2001 06:47 PM
To: Kenneth Lay/Corp/Enron@ENRON, George Hopley/HOU/ECT@ect, Scott
Tholan/Corp/Enron@Enron
cc:
Subject: Verifying Locker Assignments

February 26, 2001

Thank you for your participation in the Enron Body Shop.
We are currently verifying all locker assignments.  Please
return receipt via this e-mail if you have NOT received
your locker assignment.

Thank you,
The Enron Body Shop Staff


Start Date: 4/15/01; HourAhead hour: 11;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041511.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 11 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_LUCKY
  ENGY_TYPE: WHEEL

---- SC Trades Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  TRADING_SC: SETC
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 11 / Preferred:  10.00 / Final:   9.97)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  TRADING_SC: PGAE
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 11 / Preferred: 102.44 / Final: 102.44)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 4/15/01
  SC_ID: EPMI


Do you think I can the TW presentation on Wednesday by 12:00?

Thanks

Tracy


I would like to have our PRC meeting on Thursday, 6/8.  Because of trading,
we will not be able to start until noon.  Please confirm to me ASAP (by end
of day, TODAY)  that you will be available.  Please keep in mind that we will
went last time from 1:00pm until almost midnight.  Your commitment of this
date will include the evening hours, unless of course, we work quickly and
efficiently!!!  Sally's meeting is scheduled for Tuesday, 6/13, and I plan to
be on vacation on Friday, 6/9.  Therefore, this is the lastest date that we
can meet.  Please make every effort to make this work.

Thanks.


---------------------- Forwarded by John J Lavorato/Corp/Enron on 09/28/2000
10:48 AM ---------------------------

Mark Frevert
09/28/2000 04:02 AM
To: John J Lavorato/Corp/Enron@Enron
cc:

Subject:

F.Y.I.   I'm not sure what this is referrring to-  sounds like Detroit
Edison. Regards . Mark
.---------------------- Forwarded by Mark Frevert/NA/Enron on 09/28/2000
03:54 AM ---------------------------

Office of the Chairman on 09/27/2000 01:48:55 PM
To: Mark Frevert/NA/Enron@Enron
cc:

Subject:

---------------------- Forwarded by Office of the Chairman/Corp/Enron on
09/27/2000 01:47 PM ---------------------------

Jan Van Derziel@ENRON COMMUNICATIONS
09/16/2000 11:29 AM
To: Office of the Chairman/Corp/Enron@ENRON
cc:

Subject:

I just wondered if Enron was aware? Reported in the news that Detroit is
looking for someone to purchase the power plant and supply Detroit with
electricity.


Message A { TEXT-DECORATION: none } A { COLOR: #00008b } A:visited { COLOR:
#00008b } A:hover { COLOR: #ff0000 }
 - evf_hd.gif
 - burst.gif


Ben

This sure sounds like a deal Len Gunderson was looking at early this year and
a large chemical facility. The capacity for the project did not match what
equipment it was based on - any more details so I can see if we have any data
from that earlier look?

Bruce

Benjamin Rogers@ECT
05/04/2000 11:24 AM
To: Bruce Golden/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Re: MHI 501G

We are still looking for capital costs for a 730 MW plant in Texas, which
comprises of 4 FA's and 2 STG's.  We are currently using $450 MM for a total
project cost number, which comes out to be $616/Kw.
Thanks
Ben


Greetings:

This item will be up for discussion in the California negotiations tomorrow beginning at 10 AM.

We're going to have a call to discuss it tomorrow from 9 AM to 9:30 AM PDT.  You will receive a  call-in number shortly from Joseph Alamo.  If there are others who you think ought to participate, please feel free to invite them.  Thanks.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 06/20/2001 05:23 PM -----

	Jeff Dasovich Sent by: Jeff Dasovich 06/19/2001 07:11 PM 	   To: Tim Belden/Enron@EnronXGate, Christopher F Calger/Enron@EnronXGate, James D Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, skean@enron.com, Paul Kaufman/Enron@EnronXGate, Susan J Mara/NA/Enron@ENRON, Phillip K Allen/Enron@EnronXGate, Christian Yoder/Enron@EnronXGate, Steve C Hall/ENRON@enronXgate  cc:   Subject: Call to Discuss Possible Options to Mitigate Effect of DWR Contracts--Privileged and Confidential

PLEASE KEEP THIS NOTE, AND THE INFORMATION CONTAINED IN THE NOTE CONFIDENTIAL.

As folks are aware, we have been engaged in closed-door negotiations for the past two weeks regarding a possible market-based solution to California's electricity crisis.
In the room are the major large customer groups, environmentalists, small customers (TURN), Independent Energy Producers, labor, the Western States Petroleum Association, and Enron.
The negotiations were convened by the Speaker of the Assembly (Bob Hertzberg).
When Hertzberg convened the meeting, he told the parties that he wanted to achieve a core/noncore structure, similar to the structure in place in California's gas market (i.e., large customers are required to buy gas from the market, with Direct Access available to all other customers).
In effect, "core" customers (rez and small business) would be served by the utilities' retained generating assets and QF contracts; and large customers would go to market.
The core/noncore structure would begin 1.1.03.
The negotiating group has struggled over the past two weeks, but is close devising a framework for core/noncore in Californis (but who pays for the utilities' past debts and the costs of DWR power purchased between January and today remain very contentious).
Unfortunately, with the release of the information regarding the DWR contracts last Friday, it is now clear that achieving a core/noncore structure will be very difficult unless something is done to mitigate the contracts.
The problem is that, if core is served by utility gen and QFs, and large customers are in the market, there is no (or very little) need for the DWR contracts.  Instead, they look like a signficant stranded cost.
Hertzberg and the negotiating group are looking to Enron for creative ways to address "the DWR contract problem" in order to prevent the contracts from 1) killing the core/noncore deal and 2) forcing California to accept a structure focused on a state power authority headed-up by David Freeman that does not include Direct Access.
Christian Yoder and Steve Hall are reviewing the contracts to analyze any "out clauses" that the buyer and/or the seller might have under the contract provisions.  (My cursory review of the contracts suggests that "outs" for the state are minimal or nonexistent.)
In addition, we've started batting around ideas about how the State might reform the contracts.
All this said, want to let everyone know that we have made it extremely clear that Enron fundamentally opposes any and all attempts to unilaterally abrogate anyone's contract rights.

We'd like to have a quick call tomorrow (30-60 minutes) to brainstorm some options that we can offer Hertzberg to handle the contracts and keep the core/noncore solution alive.  We'd like to try to have the the call at 1 PM PDT.  Please let me know if this works for you, and if it doesn't, please let me know if there's a time after 1 PM PDT that works for you.

Thanks,
Jeff


Here are the issues I see with their draft:

Does not allow for us to sell them power, only buy their power and sell to
others. This means that we can't sell them power until we get the full
contract in place.

Fuel transactions include fuel oil, and I thought we weren't managing fuel
oil.

Incentive fee (in main contract) defined to only include the sale of gas.

Doesn't include the language we need for internal approvals.

Payment section doesn't address payment for sale of power to them from the
market.


Rebecca McDonald's APEC speech was a great success, with wide interest from
the audience.  Among others, DOE and EIA officials, the Korean Minister of
MOCIE, the Japanese Vice Minister of MITI and the Colombian Minister of Mines
and Energy all made special requests for copies of her presentation.  We are
making arrangements to distribute it to the broader audience today.  The
government and regulatory team here is already leveraging the enthusiasm for
the speech in their contacts.  Attached is the final copy of the
presentation, which reflects last minute changes.

John


It is with Natsource - part of a sleeve that Mike forgot to write down.

Thanks,
Kate

Kerri Thompson@ENRON
11/16/2000 12:00 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 459799

i believe this deal should be under natsource.

pls let me know.


Hey Jeff  -- How goes it in Calif.?  Things are quiet on the pipeline side.
I'm supposed to make a trip out to Portland in the fall--Now that I work with
the  Portland General folks.  Maybe I can swing by on my way to NAPA?  Hope
all is well and thanks for the update.  Joe


TO:????????? Kassandra Gough--Calpine
??????????????? Chris Micheli--Carpenter Snodgrass
??????????????? Carolyn Baker--Duke Energy
??????????????? Anne Kelly--Duke Energy
??????????????? David Parquet--Enron
??????????????? Jeff Dasovitch--Enron
??????????????? Tom Allen--Mirant
??????????????? John Stout--Reliant Energy
??????????????? Scott Sadler--Reliant Energy
??????????????? Fred Pownal--Kahl/Pownall Advocates
??????????????? Fred Main--California Chamber of Commerce
??????????????? Greg Turner--Cal Tax
??????????????? Katie Kaplan--IEP
??????????????? Matt Sutton--AEA
??????????????? CMTA Energy Committee
??????????????? CMTA Tax Committee

FROM:?? Carrie-Lee Coke/Pam Ross

RE:???????? Thursday, May 3 meeting at 2:00 pm in the CMTA conference room to
discuss Windfall Profits Tax bills

We are scheduling another meeting to discuss the Windfall Profits Tax
bills--SBX1 1 (Soto) and ABX1 128 (Corbett)???????? --for Thursday, May 3 at
2:00 pm here in the CMTA conference rooms.

The purpose of the meeting is for all of us to decide how to coordinate our
lobbying effort.

Please RSVP your attendance to Pam Ross at 916-498-3320 or pross@cmta.net.?
There is a call in number as follows:
Access number:? 1-888-727-8686
Conference ID:?? 900 1325#
?


I left a message for Mike Neves this a.m. to see if we could get together
this morning to check on things so we can open the database up.  Meanwhile,
what the confirmation desk could do is forward me an email for them and
anyone from settlement that may want access to this database.  I am going to
have to email people the link to get in.


Bill:
We had to wait until ANR completed their Cash Out Prices for November.   It
was finally  posted in GEMS ANR's system and we will now enter it into system
in order for you to get payment.    Tom Donohoe agrees to pay gas daily up to
our imbalance which is 35,613 MM and ANR's Cash Out price for any volume over
that.   We also had to wait a few days after the end of the month to get a
correct allocation for the well; ANR is about 2 days behind on any given
day.
Thanks,
Mark


My other message was messed up.  My edits are provided below.


I am scheduled to be out of the office Tues-Thurs of this week.  I will be in
New York with Mark Bernstein negotiating a term sheet for the Co Op City
deal.  This is one of the asset management deals I'm working on for the NE
Power Team.

I haven't confirmed with Mark that the trip is still on, so there is still
the possibility that it might cancel.

Kay


---------------------- Forwarded by Kayne Coulter/HOU/ECT on 02/16/2001 02:01
PM ---------------------------
Anne Labbe @ ENRON   02/16/2001 01:27 PM

To: Kayne Coulter/HOU/ECT@ECT
cc:
Subject: Holiday Pay

Just an FYI that your shift workers will receive their holiday pay for
1/15/01 on their next paycheck.  If you have any questions or problems,
please don't hesitate to let me know.


Dan,
 I have replaced the third sentence in Section 7.1 as you requested.  Please
review and let me know if the changed language is as you requested.


Drew, I won't be available until around 5pm today.  In lieu of a meeting let me leave you with some comments.

?	I have no objection to the "special test" being conducted at the CEESI facilities in Ventura, Ia.  As far as I know they are adequate. But, we would want to have an expert look at them first.  i.e., Instomet and Ken Cessac.
?	When a meter is removed from service at the Rich/Lean Inlet/Outlet then the Rich/Lean plant(s) would have to go down until that meter is tested and reinstalled.  I would assume that they would want to have one outage for all four meters and the total down time for the plant might be several days.
?	Northern will have to restrict C6+ again during this outage.
?	There is no spare meter(s) or spool for any of the Bushton meters.  If OneOK were willing to reimburse NNG (regardless of test outcome), NNG would be willing to purchase and fabricate spare meter spools in order to conduct this test with minimal impact to plant processing.  There would still be an outage of the Bushton Plant but probably only a couple of days.

 -----Original Message-----
From: 	Fossum, Drew
Sent:	Monday, October 01, 2001 11:17 AM
To:	Neubauer, Dave; Davis, Britt; Miller, Mary Kay; Cessac, Kenneth; Lowry, Phil; 'gharvey@gibbs-bruns.com'; Rice, Randy
Cc:	Blair, Lynn; Darveaux, Mary; Dornan, Dari; Ringblom, Kathy; Sellers, Emily; Nelson, Mike
Subject:	OneOk Letter

I'd like to get the above group together to discuss our response to ONeOk's letter calling for a special test. The agreement requires us to "cooperate" with OneOk when a special test is called, and there are a number of issues we will need to cooperate on, including what to do for measurement while the meter is removed, which outfit to use to test the  meter, and what the standards for testing the meter should be.  Emily--pls get a meeting set up for today if possible.  All-I suspect I've inadvertently left some key people off this distribution, so please route as necessary.  DF


Hi Jeff/Joseph

Jeff -- I have a copy of this open access opus for you (you discussed this
with Scott yesterday evening) -- where should I fed express this to? Your
home?  It's a great read -- you may want to dig into it after enjoying your
turkey and stuffing on Thursday -- :) !

Tracy J. Cooper
Please note my name has changed from McLaughlin to Cooper
Enron Broadband Services
Government Affairs
(503) 886-0396


Dear All,

I realize the final decision to move these deals have not been made. Judy Thorne is meeting with Hunter Shively in the morning, we might have some more information then.
Anyway, I thought it would be a good idea for all of us to get together to discuss what needs to happen if/when the deals are moved before the fact rather then after.

Lets still meet tomorrow, then if nothing else we can come up with a list of contract and operational issues that we can present to the commercial heads....right?

Ellen

 -----Original Message-----
From: 	Franklin, Mary Theresa
Sent:	Tuesday, October 02, 2001 2:39 PM
To:	Wallumrod, Ellen; Thorne, Judy; Smith, George F.; Nemec, Gerald; Perlingiere, Debra; Hesse, Lisa; Dickson, Stacy E.
Subject:	RE: ENA Upstream - Appalachian deals

Sorry, I'm already booked with Volume Management at that time.  I've spoke with George to get the latest decisions on what's happening to the Appalachian deals.  There seems to be a few open items and the effective date for moving these deals is undetermined.  He feels, we should hold off on having this meeting till the actual effective date has been set?  He should be hearing something in the next week or two.

 -----Original Appointment-----
From: 	Wallumrod, Ellen
Sent:	Tuesday, October 02, 2001 2:03 PM
To:	Thorne, Judy; Franklin, Mary Theresa; Smith, George F.; Nemec, Gerald; Perlingiere, Debra; Hesse, Lisa; Dickson, Stacy E.
Subject:	ENA Upstream - Appalachian deals
When:	Wednesday, October 03, 2001 1:00 PM-2:00 PM (GMT-06:00) Central Time (US & Canada).
Where:	EB21C1


Attached are the questions for next week's NEON lesson.  Have fun!!

 - Feb 28.doc


Dear Fam.
The Feb 4 testimony is on the Hill, in the morning in
front of the Senate and afternoon in front of the
House. They will likely be played on CSPAN 3 which you
can either watch on the internet or I believe it is
somewhere on Warner cable.
Liz
--- "Linda P. Lay" <mrslinda@lplpi.com> wrote:
> Dear Fam,
>
> Sally informed me today that John Brindle, a former
> head of Enron security,
> is now involved and will be handling all airline
> reservations (through
> Gordon Bethune at Continental airlines), ground
> transportation and hotel
> reservations (Four Seasons or Park Hyatt) for us.
> He has suggested that we
> use "assumed" names for all reservations being made.
>  John feels strongly
> that there could be a risk and a small unit will
> attract less attention and
> be easier to maneuver,  also it will allow for less
> media coverage...which
> is a good thing. Apparently, he will be giving a
> detailed report to Rosalee
> on Friday of this week.
>
> I talked with Ken about it tonight and as much as we
> would love to have you
> there for moral support we do not want to do
> anything that would put you in
> harm's way or create a media spectacle for him.  So,
> unfortunately, the
> prudent thing to do is have you stay in Houston and
> pray for him in your
> safe environments.
>
> For your information, our plan is to go up to DC on
> Thursday, January 31 and
> back on Tuesday morning, February 5.  Ken gives his
> testimony at the SEC
> hearings on Monday morning, February 4, and I am
> told that it will go on
> until late in the day.  These hearings are on TV and
> transcripts can be read
> on the internet.  I will try and get all of that
> info to you prior to 2/4.
>
> The following is also from Sally:
>
> "John has asked if the kids would have an interest
> in meeting with him for
> 20-30 minutes to hear his suggestions for ways in
> which to best help the
> situation, and ideas on keeping their families safe
> on a daily basis?  I
> expect this would need to be done during the
> weekday.  I would also suggest
> it be held maybe at the ROCC 12th floor conference
> rm. or at the Huntingdon
> and for the kids and spouses only, no children as it
> would only distract
> from his limited time.  Then, if anyone feels the
> need to interact with him
> on a more detailed basis they could arrange it with
> him, at their expense.
> He did express concerns that due to KLL's high
> profile, kidnapping is not
> out of the realm of possibility but he has numerous
> suggestions for
> circumventing this."
>
> Let us know your thoughts.  Love, Mom/Linda
>
>
>
>

__________________________________________________
Do You Yahoo!?
Send FREE video emails in Yahoo! Mail!
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This request has been pending your approval for  10 days.  Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000080512&Page=Approval to review and act upon this request.

Request ID          : 000000000080512
Request Create Date : 1/7/02 5:01:54 PM
Requested For       : stephen.benchluch@enron.com
Resource Name       : Market Data Kobra Basic Energy
Resource Type       : Applications


Tana,
Can I just get a status report on the NDA that you've sent out for me.  I
want to verify that Spectron and TFS have not executed the NDA yet.

Thanks,

Dan


Yes, all physical gas deals are defined as "Transactions" under our physical
master.

So, what is it.  You guys planned to do all the fun stuff the two days before
I get there?  Thanks, I appreciate that.  Hopefully, I'll be able to get from
the airport to my place without needing to call you, but I can't guarnatee it!

	Enron North America Corp.

	From:  Tana Jones                           04/27/2000 07:11 AM

To: Greg Johnston/CAL/ECT@ECT
cc:
Subject: Need your help

I am preparing an assignment of two physical gas trades that were incorrectly
done online with Canadian Imperial Bank of Commerce and ENA and assigning
them to CIBC World Markets plc and ECC (ECC has a physical master with this
counterparty, ENA doesn't).  I am adding a statement to the effect that these
Transactions shall constitute "Transactions" under the ECC Master Agreement
and want to confirm that "Transactions" is defined as such under your Master
Agreement.  Can you confirm that for me.  Much thanks!

Too bad you won't be here for the party.  It's always a good one.  Also,
Sunday is Astroworld day for Enron employees, but you probably won't get here
early enough to do that either...

Hey, if you run into any problems, my home # is (713) 529-1038.  Don't be shy
about calling me if you need any help with anything!  I mean it!


OK - what kind of car and where are you and I going on vacation?

From:  Stephanie Sever
     07/13/2000 12:32 PM

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Happy Belated Birthday!

Chris,

How impersonal and Late so first - my apologies.  No excuses but this week
has been unbelievable.

I hope that you had an incredible Birthday - I guess you started early since
I did try to call on Frid.  I hope it was fun.

I bought my self a new BD car!  Kind of exciting.

Today a few of us in my group are headed to the London office! So In my haste
I wanted to be sure and at least send you a belated birthday wish.

Stephanie


Going with the old hyphen huh???  How corporate of you.

Hey, we got the beer.  Thanks alot.  Did customs give you a hard time for
bringing a bunch of booze back?  Talk to you soon.
PL


John,

The Id that I gave you is for EnronOnline website, if you already have a
website Id not to worry, the one I issued you is a read only Id.  I show no
record of an Id in your name, do you mind forwarding back to me the Id you
are using and I will put into our records.

Thanks,

Kathy

John Griffith@ENRON
04/16/2001 08:56 AM
To: Kathy M Moore/HOU/ECT@ECT
cc:
Subject: Re: EnronOnline

I do not understand. I already have a password and login ID.  Has it changed?

Thanks.

John


Great news.  With respect to the Commissoners, I think it makes sense to go
back through Ellen and ask if she could set up meetings with a few
commissioners ater the staff briefing.

"wgramm" <wgramm@osf1.gmu.edu> on 07/17/2001 03:23:19 PM
Please respond to <wgramm@osf1.gmu.edu>

To: "Jerry Ellig" <jellig@gmu.edu>, "Steve Kean" <skean@enron.com>

cc: "Susan Dudley" <SDudley@gmu.edu>

Subject: FERC course on for Thurs, July 26, 1-4 p.m.

Susan got it done -- it'll be Thursday, July 26, 1-4 p.m. at FERC (a room on
the 3rd floor?).  Susan has talked with Bill Albrecht.  He'll probably be
coming in on Wed. p.m. Steve, any ideas about a Commissioner strategy?
(invite them to attend, if the FERC folks agree; ask the FERC folks to do
the inviting; ask the FERC folks to help set up meetings afterwards or a
follow on if they like what we do and think it useful for Commissioners; try
to do a walkaround -- that is, offer to have Jerry, Bill, Susan visit
commissioners individually Friday a.m. after the course or Thursday a.m.
before the course?) Wendy

Wendy Gramm, Regulatory Studies Program
Mercatus Center
George Mason University
703-993-4884


---------------------- Forwarded by Chris Germany/HOU/ECT on 12/29/99 11:25
AM ---------------------------

pvillag@columbiaenergygroup.com on 12/29/99 10:57:12 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Tenn supply in Zone 4

On the Tennessee side this deal was handled as a Back to Back and was
therefore
not 'scheduled' so I really never dealt with the particulars of this deal.  I
will try and dig up whatever info I can find on this issue.

Phil


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/30/2001
06:11 PM ---------------------------

"RiskNews Update" <listadmin@riskwaters.com> on 03/30/2001 12:03:40 PM
To: List Member <vkamins@enron.com>
cc:
Subject: - latest RiskNews Update - 30/03/2001

RiskNews Update - http://www.RiskNews.net

RiskNews Update - http://www.risknews.net/
==================================================================
RiskNews Update ) week ending 30/03/2001
http://www.risknews.net
News for derivatives and risk management professionals
===================================================================

Dear Subscriber,

Welcome to RiskNews Update!

Top news this week included early findings by credit ratings agency
Standard & Poor,s that internationally active banks may find it is cheaper
to use the standardised risk management approach to capital management
rather than the internal ratings based (IRB) system. Early findings that
IRB, as laid out in the Basel Committee's new capital Accord proposals,
may cost banks more in terms of capital appears contrary to the +spirit,
of the de facto international banking regulator,s proposals. Next week,
RiskNews will print exclusive coverage of the International Swaps and
Derivatives Association,s (Isda,s) response to Basel as part of our
extensive coverage of Isda,s 16th Annual General Meeting in Washington.

With consolidation seeming imminent for the plethora of electronic trading
platform providers, electronic derivatives trading platform Blackbird,s
chief executive Andy Baxter admitted having difficulties encouraging
dealers to move away from phone broking. In a separate development, JP
Morgan Chase selected multi-bank FX trading portal Atriax as its
electronic portal ) a move seen by industry observers as a blow to rival
portal FXall, which was strongly backed by the pre-merger JP Morgan.

Meanwhile, Citigroup,s top FX salesman Martin Dyer pans to take +time-out,
from his post after 20 years, clearing the way for Lars Olesen to be
appointed global FX sales manager of Citibank Foreign Exchange in London.

Christopher Jeffery
Editor, RiskNews

Tel: 44 (0)20 7484 9880
E-mail:cjeffery@riskwaters.com

PS: RiskNews will send out an additional +special bulletin, next week to
alert subscribers to our coverage of Isda 16th Annual General Meeting in
Washington. We hope you enjoy this additional service.

------------------------------------------------------------------------------
----------------------------------
Risk 2001 Europe, Paris, April 10 & 11 2001
Risk Magazine,s 6th European Derivatives and Risk Management Congress
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----------------------------------

RiskNews Update - 30/03/01

Headlines/Technology and Exchanges/People/Events

===================================================================
Headlines ) 30/03/2001
===================================================================

30 March - The Bank for International Settlements plans to establish an
Americas representative office in Mexico City by the end of this year

30 March - Dresdner Kleinwort Wasserstein, the investment banking arm of
Dresdner Bank that is currently in takeover talks with German insurer
Allianz, has opened an office in Taiwan to extend its reach in Asia
brokerage business

29 March - Dominant US secondary mortgage-market institutions Fannie Mae
and Freddie Mac have issued their first quarterly credit risk sensitivity
reports, following last year's pledge to improve information disclosure

29 March - Internationally active banks may find it is cheaper to use the
standardised risk management approach to capital management as laid out in
the Basel Committee's new capital Accord proposals than to develop their
own sophisticated internal ratings based systems

27 March - ING Barings' equity derivatives service is open for "business
as normal" following the loss of six of its team to German rival Dresdner
Kleinwort Wasserstein, the investment banking arm of Germany's Dresdner
Bank, according to an ING Barings spokesperson

26 March - The London International Financial Futures and Options Exchange
and US electronic stock market Nasdaq are to form a joint venture to trade
single-stock futures

26 March - JP Morgan Chase has selected multi-bank FX trading portal
Atriax as its electronic portal, in a move described by industry observers
as a blow to rival portal FXall, which was strongly backed by the
pre-merger JP Morgan

To read more now, click http://www.risknews.net

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===================================================================
Technology and Exchanges ) 30/03/2001
===================================================================

30 March - Trading on the international derivatives exchange Eurex can now
take place via a number of access methods including the internet, the
Swiss-German exchange has unveiled

30 March - Singapore Exchange (SGX) has launched an open interface
technology called SGXAccess, which enables SGX Securities Trading member
firms to trade in Singapore's securities market outside the country, using
their own trading terminals

28 March - Ubitrade plans to link up with Fermat, the risk management
solution vendor, to help distribute and support its product range in
several European countries and Israel

28 March - Singapore Exchange IT Solutions, DBS Securities and OCBC
Securities have completed an agreement to form a joint venture company
that will provide outsourcing services to the securities industry

27 March - Electronic derivatives trading platform Blackbird has admitted
to having difficulties encouraging dealers to move away from phone broking

27 March - Icor Brokerage has joined the race for a share of the online
forex options broking market. The firm said it would launch an e-broking
system for forex options in the second quarter of the year

27 March - Electronic trading systems software provider patsystems has
formed a partnership with Pronet Analytics, the financial application
service provider

26 March - British financial group Halifax has selected SunGard's BancWare
asset and liability management system to manage group-wide interest rate
risk

26 March - New York-based derivatives service provider Cygnifi has
completed a collateral consulting project for the New York branch of
Bayerische Hypo-und Vereinsbank

26 March - New York-based software provider Fame has formed an alliance
with California's Financial Engineering Associates to create a new product
combining quantitative risk analytics with market data

To read more now, click http://www.risknews.net

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===================================================================
People ) 30/03/2001
===================================================================

30 March - International rating agency Fitch has appointed former Mellon
and GE Capital employee Martin Donner as senior director of its loans
products group

29 March - Bear Stearns International has hired Emmanuel Pezier from HSBC,
to head its equity-linked origination and execution of convertible and
exchangeable bonds with institutional clients

29 March - Citigroup has appointed Lars Olesen as global FX sales manager
of Citibank Foreign Exchange in London. He will succeed Martin Dyer, who
is planning to take time-out to consider his options with the bank after a
Citibank career spanning more than 20 years in foreign exchange sales

29 March - Otto N,geli, deputy chief executive officer of Eurex, has left
the international derivatives exchange

28 March - Dresdner Kleinwort Wasserstein has hired Mehraj Mattoo as a
director in the alternative investments section of its equities group -
the fourth appointment of former BNP Paribas staff to the division in the
past three months

26 March - Abbey National, the UK mortgage bank currently the subject of a
takeover by Lloyds TSB, has appointed Steven Oon as director of market
risks at its Treasury Services unit

26 March - Barclays Capital, the investment banking arm of the UK's
Barclays Bank, has significantly increased its energy products team at the
New York Mercantile Exchange

26 March - David Puth, managing director and head of sales, trading and
research for JP Morgan Chase's rate markets business in North America, has
been named the new chairman of The Federal Reserve Bank of New York's
Foreign Exchange Committee

To read more now, click http://www.risknews.net

********************************************************************
The latest issue of Asia Risk magazine is dedicated to Japan, with a
special report, JapanRisk, published with Asia Risk and Risk. The complete
contents of JapanRisk are available online on the AsiaRisk website.

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==================================================================
Events - 30/03/2001
===================================================================

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For further information on these events visit www.risk-conferences.com

Other conferences and courses coming soon:

 Advanced Mathematics for Pricing and Hedging Credit Derivatives,
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 Interest Rate Modelling Calibration and Implementation
Techniques, London 24 & 25 May 2001 ) New York 31 May & 1 June 2001
 A/LM 2001 ) Risk Magazine,s 5th annual Conference ) New York 21 &
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 Risk 2001 USA ) Risk magazine,s 7th annual US derivatives and
risk management congress, Boston 12 & 13 June 2001.

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To unsubscribe, write to financewise-unsubscribe@listbot.com


Tana,
I am now dealing with this, I have lists of exchanges but no one has provided
information on their clearing functions as requested so I am chasing again
today.
Regards
Lorna

Edmund Cooper
19/04/2000 16:22
To: Lorna Jones/LON/ECT@ECT
cc:

Subject: Need Information for Audit

Lorna,  could you give Tana an update today.  Thanks, Edmund.

---------------------- Forwarded by Edmund Cooper/LON/ECT on 04/19/2000 04:23
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Tana Jones                           04/19/2000 03:37 PM

To: Edmund Cooper/LON/ECT@ECT
cc:

Subject: Need Information for Audit

Edmund,

You are the only person I have now not heard from.  When can I expect to get
your response?
---------------------- Forwarded by Tana Jones/HOU/ECT on 04/19/2000 09:37 AM
---------------------------

	Enron North America Corp.

	From:  Tana Jones                           04/11/2000 04:54 PM

To: Edmund Cooper/LON/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthias Lee/SIN/ECT@ECT
cc:
Subject: Need Information for Audit

I have not received any feedback from Edmund or David regarding the email
below.  Can you please respond as I am getting daily prompts for a response.
MUCH THANKS!

For Matt, your email stated that you trade over the IPE & NYMEX.  What rules,
besides the rules of those two exchanges, might apply to any on or off
exchange trades you might enter into.  For instance, here in the U.S. energy
commodity trades might be governed by the CFTC, where out equity options
might be governed by the SEC.  Besides the exchanges your email reflected,
what other governmental rules or regulations would govern trades you might
enter into?
---------------------- Forwarded by Tana Jones/HOU/ECT on 04/11/2000 04:44 PM
---------------------------

	Enron North America Corp.

	From:  Tana Jones                           03/23/2000 11:12 AM

To: Edmund Cooper/LON/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthias Lee/SIN/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT
Subject: Need Information for Audit

In connection with an internal audit regarding the safekeeping of margin
funds and securities, Enron Corp. has asked us to provide them with a list of
all the exchanges we trade on, what rules govern those exchanges and the
products we trade on them (in particular the clearing arrangements), and any
rules that govern brokers we may maintain funds or cash with.  This should
include all the products we may trade/hedge over an exchange including energy
commodities, interest rates, currencies, equities, etc.

Can you please provide this information no later than Friday of next week.
Much thanks!


---------------------- Forwarded by Mary Hain/HOU/ECT on 10/02/2000 08:43 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Ronald Carroll" <rcarroll@bracepatt.com>
10/02/2000 06:48 AM

To: <jhartso@enron.com>, <mary.hain@enron.com>, <smara@enron.com>,
<snovose@enron.com>
cc:
Subject: THE WINNERS IN CALIFORNIA

 DJ POWER POINTS: Winners In $4 Billion Calif Sweepstakes
>   By Mark Golden
>   A Dow Jones Newswires Column
>
>   NEW YORK (Dow Jones)--Now that PG&E Corp (PCG), Edison International
> (EIX)
> and
> Sempra Energy (SRE) have announced that about $4 billion in power costs
> flew
> out
> their windows this summer, Wall Street might be curious to know on which
> corporate doorsteps the windfall landed.
>   A few of the beneficiaries have indicated publicly how well they did
> this
> summer. We've supplemented those announcements with data on market share,
> conversations with western U.S. electricity traders, second quarter
> earnings
> reports and publicly available information from the California Independent
> System Operator - operator of the state's high-voltage transmission grid
> and
> real-time power market - to create this Top 10 list of winners in the
> Summer
> of
> Luck.
>
>   No. 10: Duke Energy Corp (DUK), Calpine Corp (CPN) and AES Corp (AES).
> These
> companies, with significant merchant power plants in California, didn't
> make
> as
> much money as they could have because they sold their power before prices
> started rising.
>   AES, for starters, has sold the vast majority of the capacity of its
> California natural-gas fired generators under a long-term, fixed-price
> contract
> to make power for another company - a company much higher on this list -
> which
> supplies the natural gas and owns the electricity.
>   Duke, with 2,680 megawatts of generators in California, lost out on
> significant potential income, because it sold most of its power months
> before
> prices started to rise.
>
>   No. 9: Electricity trading companies. These companies, like Utilicorp
> United's
> (UCU) Aquila, Citizens Power (now owned by Edison International) and
> Belgian
> company Tractebel's (B.TRB) U.S. unit, mostly traded in and out of
> positions
> -
> and they made good profits doing so. This group also includes the
> unregulated
> trading units of Sempra and PG&E.
>
>   No. 8: Western utilities with power to spare, namely Arizona Public
> Service
> Co., the Public Service Co. of New Mexico (PNM) and IdaCorp Inc.'s (IDA)
> Idaho
> Power.
>   PNM said on Sept. 14 that it made $193 million in wholesale marketing
> during
> July and August, a 90% increase over the same two months last year.
> Arizona
> Public Service, which is a subsidiary of Pinnacle West Capital Corp (PNW),
> had
> considerably more power to sell than PNM, market sources said.
>
>   No. 7: TransAlta (T.TA) and PPL Global (PPL). Western electricity prices
> have
> been high outside California as well. TransAlta and PPL reached deals to
> buy
> two
> major coal-fired power plants in the Northwest last year and took
> ownership
> before this summer. Unlike gas, coal is still cheap.
>
>   No. 6: Enron Corp (ENE), El Paso Energy (EPG) and the energy trading
> unit
> of
> Morgan Stanley-Dean Witter (MWD). Unlike the in-and-out traders, these
> companies
> bet on rising prices and came into the summer holding large supplies in
> the
> West, electricity traders said.
>   "Enron just bought and bought and bought before the summer, and never
> seemed
> to sell," said one trader.
>   El Paso also owns 896 MW of generation in California.
>
>   No. 5: The U.S. Federal Government and the State of Arizona. Federal
> utility
> Bonneville Power Administration and Arizona public utility Salt River
> Project
> rode to California's rescue on the hottest days this summer, providing
> hundreds
> of megawatts of supply at top dollar.
>
>   No. 4: California's independent generators. The merchant power companies
> in
> California that did the best this summer are Reliant Energy Inc. (REI),
> with
> about 4,063 MW of California capacity; Southern Co. (SO), with about 3,000
> MW;
> NRG Energy (NRG), with 1,500 MW; and Dynegy Inc. (DYN), with 1,250 MW.
>   Unlike Duke, AES and Calpine, these companies held on to most of their
> power
> and sold it in the day-ahead and real-time markets, where prices turned
> out
> to
> be best.
>   Reliant has already indicated that third quarter earnings available for
> equity
> will top last year's figure by about $110 million.
>   All of these companies, however, saw their windfall trimmed by
> diversification. Each owns gas-fired and some oil-fired merchant power
> plants in
> the eastern U.S., where high fuel prices and low electricity prices have
> damped
> profits.
>   "We've had a good summer, but we have a pretty balanced portfolio across
> the
> country," Stephen Bergstrom, president and chief executive of Dynegy, said
> in an
> interview. "As good as the summer has been in the West, it's been as bad
> in
> the
> eastern half of the country."
>
>   No. 3: Los Angeles Dept. of Water & Power (and its bondholders). LADWP
> has
> about 7,000 MW of generation, or about 2,000 MW more than it needs for its
> customers. As LADWP general manager S. David Freeman said a few weeks ago,
> "A
> blind pig could make money with that setup."
>
>   No. 2: The heavily taxed citizens of British Columbia, Canada. Their
> provincially owned utility, BC Hydro, has been very busy this summer
> turning
> (free!) water into electricity worth hundreds of millions of dollars more
> than
> expected and flooding the province's general funds. With hydroelectric dam
> reservoirs the size of New England and transmission lines that can carry
> 3,000
> MW of southbound power, BC Hydro has single-handedly kept socialism
> solvent
> for
> another year in British Columbia.
>
>   And the Grand Prize winner in the California Utilities  Sweepstakes:
> Williams
> Companies (WMB), the company AES's generators are working for. Williams
> controls
> almost 4,000 MW of gas-fired generation in the San Diego area, a little
> more
> than 10% of what California's utilities need on average during daylight
> hours in
> the summer.
>   What's more, those plants are under contract as "resource must run" with
> the
> ISO. Their power can't be sold in the forward market. Williams had to take
> daily
> and real-time market prices by default, which is exactly what you would
> have
> done to maximize profits.
>   And Williams isn't hurt by the factors that have diluted other
> companies'
> California gains. It isn't very exposed in the East; and as a big producer
> of
> natural gas, it's benefiting from high gas prices nationwide.
>   Just to give an idea of how well the company likely has done this
> summer,
> consider that Williams' second quarter profit from its energy services
> segment
> rose to $412 million this year from $106 million in the second quarter of
> 1999.
> That in a quarter with one and a half months of soaring prices. In the
> third
> quarter, there were three.
>   -By Mark Golden, Dow Jones Newswires; 201-938-4604;
> mark.golden@dowjones.com
>
>   (END) Dow Jones Newswires  29-09-00
>   1800GMT(AP-DJ-09-29-00 1800GMT)
>


Actually, I just found out that he is not going to do it until this afternoon. Is it better at the top of the hour?

Michael S. Tully
michael.tully@enron.com
Application Support, Portland
(503)464-7790 Desk
(503)807-7862 Cell

 -----Original Message-----
From: 	Williams III, Bill
Sent:	Tuesday, August 14, 2001 8:58 AM
To:	Tully, MIchael
Subject:	RE: CAPS

How about 09:15?

 -----Original Message-----
From: 	Tully, MIchael
Sent:	Tuesday, August 14, 2001 7:55 AM
To:	Williams III, Bill
Subject:	CAPS

TJ Butler needs to bring down CAPS for about ten minutes. When would be a good time? and can you make sure that all your guys are out at that time?

Michael S. Tully
michael.tully@enron.com
Application Support, Portland
(503)464-7790 Desk
(503)807-7862 Cell


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I can't believe you're going to put them outside!  100% of the TIME?  That
would be soooo difficult to do, I would end up letting them in, I have no
discipline when it comes them, with their sweet, sweet faces!  I do think
you are getting paid back for your lack of understanding for Barbara, it's
terrible when those kind of things come back to haunt you.

Which house is for sale, John's? Or that woman that never came outside?  Did
I tell you that they raised my tax value on the Roseland house for 2001 to
$231,000...what a joke!!! I#m sure that the purchaser will contest and win,
he only paid 190,000 and that is the fair value.  Are prices going down in
Montrose, what's the problem with the house by you, why isn't it selling?  I
would love to be able to buy a place that cheap...my land here cost $300,000
US!  The house alone here will be another $300,000 when it's
finished...incredible.  Armin has a small one bedroom apartment that he paid
$150,000 US for and we checked into selling it, evidently he bought when
prices had peaked...we'd get have that for it if we sell...so I guess we are
staying in the landlord business for now.  We just signed a new tenant, hope
she's not a problem, the others we've had were no problem.

I'm really sorry about the dog situation.  But what else can you do.  Oh,
what we do for love and lust!  I left everything and moved to Germany and
you're throwing your dogs outside.  Life has it's difficulties!

How's your mom?  What#s happening with MDAnderson?


Did you watch Ally last night?

 -----Original Message-----
From: 	Evans, Ted
Sent:	Tuesday, November 13, 2001 9:50 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

such a tough life

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Tuesday, November 13, 2001 9:49 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

I saw the tv advertisement last night for Temptation Island for Thursday.  I think it may conflict with Will and Grace.  Could be a tough night.

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 4:00 PM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

it looks to be on Thursdays at 8

http://www.fox.com/temptation2/home.htm

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 3:45 PM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

I was looking in the TV guide and did not see where it is on this week let me know if they changed the date and time.

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 11:49 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

um.....no....sorry - i guess he is why you are watching?

aren't there good looking boys on the island?

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 11:20 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

Have you seen Ben on Felicity?

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 11:01 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

i don't understand how you put Felicity on the same level at TI2...

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 10:45 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

I am a desperate person for entertainment-what can I say.

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 10:35 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

that is horrible - i am embarrassed for you...

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 10:31 AM
To:	Evans, Ted
Subject:	RE: How good is Temptation Island 2

it's on the sasme night as Felicity

 -----Original Message-----
From: 	Evans, Ted
Sent:	Monday, November 12, 2001 10:30 AM
To:	Tholt, Jane M.
Subject:	RE: How good is Temptation Island 2

that's no fun

 -----Original Message-----
From: 	Tholt, Jane M.
Sent:	Monday, November 12, 2001 10:27 AM
To:	Evans, Ted
Subject:	FW: How good is Temptation Island 2

 -----Original Message-----
From: 	Evans, Ted
Sent:	Friday, November 09, 2001 7:46 AM
To:	Tholt, Jane M.
Subject:	How good is Temptation Island 2

I'm not sure I'm going to watch it.  None of the people really interest me


Let's og today if you can, or tomorrow.  I'm available anytime after 11:00.  Are you going to try your badge again?  They are reviewing the photos now, along with new scanners.

D

 -----Original Message-----
From: 	"buylow" <buylow@houston.rr.com>@ENRON
Sent:	Saturday, November 10, 2001 12:45 AM
To:	Farmer, Daren J.
Subject:	Well now?

Hi,

How are you doing? Still feel like lunch?

I'm sad about Enron's demise. A lot  of people got hurt on this one.

What the hell ....... I feel like lunch  and you probably need to get out of there so let me know what's good for  you.

Ken


we can email this doc and the comparison (i.e., her markup and the above doc)
to Sylvia Dooley.  Please let me know if you have any questions.  Sara

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


Hey!  What did the doctor say about Jake?  Did they run the tests?  I'm out
next week Wed.-Fri. for spring break.  I want to bring Lacy to see Jake.
When would be best?  Tonya said the weekends were taken for a while.Did she
mean Easter Weekend too?  Hope Jake is doing better. You never did send me
any videos of him & Cole so I could see if I could download them.  Love, Ma
______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com


---------------------- Forwarded by Lysa Akin/PDX/ECT on 01/26/2001 03:01 PM
---------------------------

Mary Hain
01/26/2001 02:53 PM
To: Richard Sanders, James D Steffes/NA/Enron@Enron
cc: Lysa Akin/PDX/ECT@ECT
Subject: CAISO Notice: SCE's Letter Notification and ISO Response

Lysa please forward this to everyone on the California crisis contact list.
---------------------- Forwarded by Mary Hain/HOU/ECT on 01/26/2001 03:02 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Fuller, Don" <DFuller@caiso.com>@caiso.com>
01/26/2001 02:52 PM

Sent by: "Happ, Susan" <SHapp@caiso.com>
To: ISO Market Participants
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=ISO+20MARKET+20PARTI
CIPANTS@caiso.com>
cc:
Subject: CAISO Notice:  SCE's  Letter Notification and ISO Response

Market notice:

On January 24, 2001, the CEO of the California ISO received by fax a letter
from John R. Fielder, Senior Vice President of Regulatory and Policy Affairs
at Southern California Edison (SCE).  Mr. Fielder stated that SCE was
providing notice pursuant to Sections 15.1 and 15.2 of the ISO Tariff "that
SCE will not be performing all of its obligations under the ISO Tariff
because it will not be paying every invoice due to Uncontrollable Forces, as
defined in the ISO Tariff."  Mr. Fielder stated that the Uncontrollable
Forces were "regulations and restrictions imposed by governmental
authorities, including without limitation, the CPUC's order of January 4,
2001, that failed to authroize SCE to obtain, and restricted SCE from
obtaining sufficient funds to enable SCE to meet its payment obligations."
Mr. Fielder further stated that, "[b]ecause SCE's action is due to
Uncontrollable Forces, the ISO should not attempt to exercise any remedies
against SCE for non-performance and SCE will hold the ISO responsible for
the consequences of the ISO exercising any such remedies."  Finally, Mr.
Fielder stated that SCE was using its best efforts to mitigate the effects
of the regulations and restrictions and would continue to do so.  The CEO of
the California ISO has written to Mr. Fielder stating that it is studying
the position taken in Mr. Fielder's letter and that for the moment it
neither accepts nor rejects the position.  The purpose of this market notice
is to fully inform Market Participants who may have claims directly against
SCE based on SCE's failure to pay ISO invoices.


Mark -

I think you are right - this is no doubt the best we can do.  Let's go ahead
and take care of execution.

Thanks very much for all your help.

Mark


Richard,

In the 10/6/2000 email to Harvey Morris at the CPUC setting forth Enron's
proposed response to the subpoena, Enron stated that it would produce
documents and information for Las Vegas Cogeneration.  Does Enron still
intend to produce these documents and information?  If so, what types of
documents and information do we intend to produce and who will be gathering
it?

Thanks,

Peter

Peter P. Meringolo
Brobeck, Phleger & Harrison LLP
Spear Tower
One Market
San Francisco, CA 94105
Main:  (415) 442-0900
Direct:  (415) 442-1285
Fax:  (415) 442-1010

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hi carol

here is info on wspp trip - call me when you get a chance to go over details.  thanks

Elizabeth Sager
713-853-6349

 -----Original Message-----
From: 	"WINNIE HOWARD" <HOWARD@wrightlaw.com>@ENRON [mailto:IMCEANOTES-+22WINNIE+20HOWARD+22+20+3CHOWARD+40wrightlaw+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, September 27, 2001 9:21 AM
To:	Sager, Elizabeth; jhartso@enron.com
Subject:	November Meetings in San Diego

 - 1003-542-147.doc


California Needs Deregulation Done Right
By Daniel McFadden

02/13/2001
The Wall Street Journal
A26
(Copyright (c) 2001, Dow Jones & Company, Inc.)

The electricity market in California has swung over its history from
monopolization by industrialists in its early days to comprehensive
regulation, then to partial deregulation in the 1990s, and now back toward
substantial regulation and government intervention. In the past, each swing
of the pendulum came from public frustration with the way this market
operated, and each produced a result that the public again found
unsatisfactory.
But the memory of politicians and the public is short. The state is poised to
repeat the mistakes of the last cycle of regulation. Measures passed by the
California Legislature this month are an ill-conceived intervention that will
lock the state into high energy costs and put it at a competitive
disadvantage for years to come.
Unless there is further action, the state will maintain subsidized retail
prices that discourage conservation, while capping in-state wholesale prices
in a manner that discourages construction of new in-state generation capacity
and leaves Californians at the mercy of out-of-state generators. Government
subsidization of electricity consumption will drain tax revenues that might
be better used for education and other needs, encumber California's children
with debt to pay the state's energy bills, and threaten the state's future
ability to sell bonds for public projects. The immediate political cost of
consumer outrage from higher electricity rates may be postponed, but the real
economic cost promises to be massive.
The sad thing is that this is all unnecessary.
The source of the crisis was rigid regulation of retail prices in the face of
rapid increases in wholesale prices driven by increased fuel prices and
increased demand in the national electricity market. The only effective
solution to the crisis is to make retail price regulation more flexible, so
that consumers see the real economic cost of electricity and respond to high
prices through conservation efforts that reduce demand and push prices down.
On the supply side, the state should encourage construction of new in-state
generation capacity through the right market signals, giving producers the
opportunity to site plants and sell power under conditions comparable to
other states.
It's true that state action was needed to stabilize the electricity market,
avoid immediate bankruptcy of the distribution companies, and assure
continued delivery of energy. But this step will only postpone the day of
reckoning unless sensible electricity pricing is introduced as well.
To limit the impact of high prices on the poor, increasing block-rate tariffs
can be used in which the rates for "lifeline" electricity use are kept low.
These were effective in limiting demand for water during California's last
drought, and are already used to promote energy conservation. A more
aggressive version that pushes the rates in high-usage blocks to the real
load-linked economic cost of electricity would provide an incentive that
would stimulate conservation at the precise points that will do the most to
moderate demand and push down wholesale prices.
Consumers should have the opportunity to hedge against price spikes and
average their payments to ease the pain of price volatility. The installation
of load-sensitive meters should be accelerated so that consumers can respond
to the economic price of the electricity they are consuming. This is new
technology for U.S. utilities, but has operated well in France for years.
On the supply side, the state and the Federal Energy Regulatory Commission
could use their regulatory power to require that existing generators redirect
excess profits to finance lifeline rates for retail customers and work off
the hangover from previous electricity purchased and not paid for.
However, care should be taken in dealing with generators to assure that every
kilowatt hour that any generation facility can produce at less than the
national wholesale price of electricity is in fact delivered to the market.
The state needs to be very cautious about getting into the power business as
an intermediary between generators and distributors. Government bureaucracies
rarely show dexterity in dealing with private suppliers, and access to
general government revenues dulls their incentive to operate efficiently.
Negotiating long-term contracts right now, when California is in a weak
market position and the out-of-state generators are in the driver's seat, is
likely to put the state at a future competitive disadvantage.
Consumers need to be reminded that money passed through the government to
subsidize electricity comes out of their pockets just as surely as price
increases, without the mitigating benefits of demand reduction.The lessons of
history suggest that in making the Hobson's choice between a dysfunctional
partially deregulated market and a fully-regulated one that promises to be
even more dysfunctional, California is picking the greater of the two evils.
If it fails to move to sensible electricity pricing in which both consumers
and suppliers see the real economic price at the margin, it will face
another, even more serious crisis in the not too distant future.
---
Mr. McFadden, a professor of economics at the University of California,
Berkeley, received the Nobel Prize in Economics last year.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.


I didnt know Cleveland can get that quality of fans.  The kid loves it.
Go Browns!

JPM


Mike confirmed with Natsource this was a 25MW deal with no broker fee.

Kerri Thompson@ENRON
11/17/2000 07:47 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 458802

the broker has 23,775 as total mws, and also has a fee of .0075.


Sunday evening, December 10, 2000

COMMENT: On December 5, Fed Chairman Alan Greenspan spoke. He said that the
"wealth effect" has been "significantly attenuated" thanks to the drop in
stock prices. He also acknowledges that our economy "is obviously at
increased risk of untoward events.." He is right, of course, and in a
position to reduce this risk by easing monetary policy. Ironically, his
latest speech follows by exactly four years the one in which the Fed
Chairman famously asked, ".how do we know when irrational exuberance has
unduly escalated asset values."

More and more these days, I hear from various well-connected business
sources that sales "fell off a cliff" since the summer. This is confirmed by
the steep drop in consumer confidence during the first half of December and
Intel's warning last week about sudden order cancellations. Despite this
warning, large/mid/small cap tech stocks were up last week by 8.1%, 15.2%,
and 9.9%, respectively. Could it be that the bad news is mostly in stocks
and that the market is starting to anticipate Fed easing soon? I think so.

SUBSCRIBERS: The risk is that Fed easing might not work to avert a recession
this time. This "pushing-on-a-string" fear was frequently raised by Asian
investors, who I met last week in Singapore, Hong Kong, and Japan. Many of
my friends in Japan see lots of disturbing parallels in the US today with
their unhappy economic and financial experience during the previous decade.
I reminded them that there are still 650 basis points left between the
federal funds rate and zero. For more on this subject, see my latest GLOBAL
PORTFOLIO STRATEGY. The topic for Monday's WEEKLY AUDIO FORUM: "Will US
follow Japan's bubble script?"

PUBLIC: You can decide for yourself whether it is too late for Fed officials
to avert a recession, and how quickly they can get us out once they start to
ease by tracking numerous KEY WEEKLY indicators on the HOME page. You'll
find initial jobless claims, bank credit, mortgage applications, and more.
In his latest speech, the Fed Chairman said he still believes that the
secular rebound in productivity growth is intact. I agree. You can find his
speech in the GREENSPAN CENTER and our updated (Dec 6) PRODUCTIVITY TRENDS
chart book on the WHAT'S NEW page.

Dr. Ed

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Additional Information Available Upon Request. Information herein is
believed to be reliable and has been obtained from sources believed to be
reliable, but its accuracy and completeness cannot be guaranteed. Opinions,
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Daren:
 Here is a list of potential deals for this November:

 Brigham Oil and Gas,  Lopez Mineral Trust #2, Meter 9865 ,  6000 Mcfd.

 Phoenix Gas Pipeline, Phoenix Taylor #1, Meter Unknown, 3000 Mcfd

 Pressler Petroleum, Pressler Stoval #2, Meter 6821, 300-400 Mcfd

 Superior Natural Gas, Walter Hamilton #1, Meter Unknown, 3500 Mcfd

 These numbers are not included in Vance's nomination.

 Let me know if you need any additional information.

 Thank You,
  Susan Smith
  x 33321


The A/A Department is officially working with SAP.

SAP requires a new expense reimbursement form.

From now on, if you need cash back from our department as a result of any
recruiting efforts, (Super Saturdays, On Campus Visits, etc.) please use the
attached form:

As usual, send the form and taped-to-separate-sheets-of-paper receipts to
Randy Martin (EB 3621) for coding and processing.


The Vernon City Council did indeed approve the City's participation in the
comprehensive settlement on April 18th.? I apologize for being slow to
confirm this action.


Attached please find this weeks AGA summary.

Thanks,

Bob McKinney

 - 11-21-01 AGA.doc


I spoke to Edmund to get the scoop on what we are going to be doing on the
confirms for Credit Derivatives, and he said that his current understanding
is that all of the confirms will be done out of London.  I communicated that
to Bob Bowen.  He also said that London was going to be hiring 120 people to
deal with the Credit Derivatives business.  Wow!


Hello Paul Thomas,

 This is an automated email delivery.  The following info is for
 tracking purposes only:

 Transaction: 0000189820
 Fulfillment: 00203618*00002
 Location   : 00007

 Industrial Information Resources, Inc.
 Customer Service Department
 (713) 783-5147

 - OUTAGE.dbf


Hi.

We can get a computer hook up through Time Warner for $15 month.  Could you
ask John if he likes it?  Can it be installed anywhere in the house?

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/22/2001 10:54
AM ---------------------------

	From:  The ClickAtHome Project Team                           01/10/2001
03:19 PM

Sent by: Enron Announcements
To: ClickAtHome Pilot 1 Confirmed Participants, ClickAtHome Pilot 2 Confirmed
Participants
cc: Suzanne Brown/HOU/ECT@ECT, David Wise/NA/Enron@Enron, Kevin
Whitehurst/NA/Enron@ENRON, Elizabeth Boudreaux/NA/Enron@Enron, Stacey
Dempsey/HR/Corp/Enron@ENRON, Marie Newhouse/Corp/Enron@Enron, Marsha
Francis/Corp/Enron@Enron

Subject: ClickAtHome ISP Ordering is Here!

Thank you for your participation in our first two pilots.  Your effort, time
spent, feedback, and interest in the program has been very helpful in
improving it.  Thank you, too, for your patience through this new process.

We are excited to announce the beginning of Internet Service Ordering today,
Wednesday, January 10.  Many of our vendors are ready to begin providing
service to you today, while all vendors will be ready by late February.   The
ClickAtHome Internet Service Providers whom are currently available for
internet service are
Time-Warner in Houston, (cable modem)
Kingwood Cable, (cable modem)
AT&T in Portland.  (cable modem)

MSN will be available in late February, providing both dial-up and DSL
service.  We will provide further communication as soon as MSN orders can be
placed. We appreciate your patience in advance.

To pre-qualify and sign up for service in your area today with Time Warner,
Kingwood or AT&T- Portland, refer to http://clickathomepilot.enron.com for
specific provider information and instructions on how to place your order.
If you have problems launching the site, please copy and paste
http://clickathomepilot.enron.com directly into Internet Explorer.

The ClickAtHome Team is excited to bring you the final stage of the program.
Again, we thank you for your patience.  We encourage you and your family to
use and personalize your new portal, which can be found at
www.clickathome.net.  And we encourage you to get connected, and Get
Innovative at Home!

ClickAtHome Team


Mark/Tana,
Thank you, these changes should work out just fine.  Please copy me on the
revised LOI.  I discussed the online BETA with Bob and we agree that it
should remain an offline document.

Thanks again,

Dan
 -----Original Message-----
From:  Greenberg, Mark
Sent: Monday, May 07, 2001 4:13 PM
To: Diamond, Daniel
Cc: Shults, Bob; Jones, Tana
Subject: TFS - Fee Agreement

Dan -

Attached are a marked and clean version of the Fee Agreement for TFS.  I have
modified the agreement to reflect that a hard copy of the BETA will be signed
and to clean up those areas discussing the online BETA.  If these changes are
acceptable, please let either me or Tana know as similar changes need to be
made to the LOI to ensure consistency.

Further, if you and Bob want to keep the Fee Agreement silent as to online
BETA's and have agreed that all BETA's will be offline documents, them I will
make the appropriate revisions to the form Fee Agreement and BETA to
accommodate this change.

Please let me know if there is anything further that you should need.

 << File: baf - TFS (5-07-01).doc >>    << File: baf - TFS (clean5-07-01).doc
>>

Mark
Senior Counsel, EWS
Phone:     713-345-8897
Facsimile: 713-646-3490
E-Mail:      Mark.Greenberg@enron.com


California is electric industry test case

By Deborah Adamson, CBS.MarketWatch.com
Last Update: 3:03 PM ET Aug 23, 2000
NewsWatch
Latest headlines

SAN DIEGO (CBS.MW) -- The federal government will provide grants and loans to
help local residents and businesses pay for soaring electricity bills,
President Clinton said Wednesday.
Clinton said $2.6 million will be earmarked to help low-income families and
seniors pay for electricity bills that have more than doubled. He urged the
Small Business Administration to provide loans to companies that are
struggling to pay power bills.
He also called for expediting the investigation of wholesale power markets by
the Federal Energy Regulatory Commission.
"We'll do what we can to help you," the president said during a televised
news conference at the White House in Washington.
Test case yields public outcry
The San Diego area is a test case for the rest of the country over the
feasibility of electric industry deregulation. The region -- which also
encompasses South Orange County, north of San Diego -- is the first in the
nation to have its power market completely deregulated.
New York, New England and mid-Atlantic states are following suit, and they're
watching California carefully.
Thus far, the San Diego test has turned out to be a shambles.
Electricity supply that hasn't increased in 10 years failed this summer to
meet strong demand resulting from a growing state. With market forces in play
for the first time, strong demand led to much higher wholesale rates that was
passed along to residents.
After a public outcry, the California Public Utilities Commission on Monday
approved a plan that would cap customers' electric bills for normal use, but
they'll pay market rates for anything extra. Utility companies also can
collect on any shortfalls later.

Today on CBS MarketWatch
Nasdaq inches higher; Dow lags
Oil inventories at 24-year low
Commentary: Garzarelli sees stock rally in fourth quarter
Amazon.com enters car market
California is electric industry test case
More top stories...
CBS MarketWatch Columns
Updated:
8/23/2000 3:02:08 PM?ET

In other words, if the electric company can't pass along the entire cost of
buying the energy for now, they'll be able to pass it along months later.
Therefore, people who are used to seeing lower electricity bills for the
cooler months in fall and winter won't see much of a drop-off.
"It's a shameful pay-now-or-pay-later plan," said Bob Finkelstein, staff
attorney for the Utility Reform Network, a consumer advocacy group.
"California jumped off the deregulation cliff."
State legislators, which have the power to expand on the commission's ruling,
shelved a plan to roll back rates to mid-1999 levels and cap them for
customers of San Diego Gas & Electric, a Sempra Energy (SRE: news, msgs)
subsidiary. They faced opposition from Gov. Gray Davis, a Democrat, and from
Republican lawmakers.
Davis prefers a plan that would cut rates by 60 percent immediately but that
would stipulate customers pay the full amount of what they owe later.
Republican lawmakers want the state to use taxpayers' money to help pay
electric bills for consumers while businesses get tax credits.
San Diego fiasco
The Southern California fiasco came about as a result of a deregulated
electricity market that began two years ago. The effects of deregulation are
being felt first in the San Diego area because it was the first to end its
rate freeze -- last summer. The rest of California should follow, region
after region, by 2002.
The idea sounded good: Deregulate the electric industry and let the market
set the prices. With competition, rates should come down and service should
improve. When the long-distance phone market was deregulated, it did bring
about low prices and greater competition.
But things got messed up along the way.
For one, the hope that consumers and businesses could one day shop for
electricity as they shop for better deals among long-distance carriers was
dashed, at least for now. Initially, hundreds of companies had signed up to
offer power but most have gone out of business or left the market. Of the
remaining companies, most serve the more lucrative corporate market, said
Linda Sherry, a spokeswoman at Consumer Action.
Also, the strategy of letting housing developments form power cooperatives
and negotiate better rates "didn't pan out," Sherry said.
Demand far outstrips supply
Demand for power in California surged as businesses and the population grew.
But supply didn't grow with it because no new electric generation plants have
been built in the state for 10 years. Last year, the state approved five
applications to build new plants, but they're years away from becoming
operational.

Under the deregulated market, electric utility companies were mandated to
sell their power generation plants. By separating the provider of electricity
and the generator of electricity, the idea is to usher in a more competitive
market.
Today, San Diego Gas & Electric buys from electric generators through an
auction market.
But the auction market rules as set up actually make the situation in San
Diego worse. According to the Federal Energy Regulatory Commission, when
electric utilities accept bids from generators at various prices, they are
required to pay to everyone the rate of the highest bid. But in a situation
where the electric company needs all the power available, it has to accept
all the bids and apply the highest price to every deal -- inflating the cost.
Electric generators were taking advantage of the situation by charging more,
Sherry said. FERC is investigating and plans to issue a report later this
year. But for now, price caps have been set.
Utility company buffeted
Ed Van Herik, a Sempra spokesman, said the auction rules are putting the
squeeze on utility companies, already buffeted from all sides by public
outcry and political pressure.
But Utility Reform Network's Finkelstein said San Diego Gas & Electric isn't
totally blameless because it could have done a better job of hedging high
costs.
"They could have entered into (futures) contracts to hedge these risks,"
which would have allowed the utility to buy electricity at prices under
normal conditions, the attorney said.?


BRAZIL: INB EXPORTS NUCLEAR FUELS AND PARTS
Gazeta Mercantil, 12 Apr 2000, p. A-9:-
 The Brazilian state-owned nuclear power company INB (Industrias Nucleares do
Brasil) is exporting fuels elements (modules for uranium tablet storage in
nuclear power stations) to the US company Westinghouse.
The company also has a contract to export uranium powder to the German
company Siemens, being 150 tonnes in 5 years.
INB is also negotiating with the French company Cogema to export the excess
production of its plant in the city of Resende (state of Rio de Janeiro),
expecting to sign the contract soon. The plant has capacity to produce 160
tonnes of uranium powder yearly, power stations Angra 1 and 2 of INB only
consume 50 tonnes yearly. INB started to produce uranium powder on April 11th
2000.

BRAZIL: ANEEL TO EXPLAIN ELECTRICITY PRICE
O Estado de S.Paulo, 12 Apr 2000, p. b-10:-
 A request of the deputy Renildo Leal will be voted on April 11th 2000 by the
Energy and Mining Commission of the Brazilian House of Representatives by
which the criteria which were used to concede prices increases to Brazilian
electricity generation and distribution companies will have to be explained
by the director general of the Brazilian National Electric Energy Agency
(Aneel), Jose Mario Abdo.

BRAZIL: CPC INTERESTED IN OIL/GAS EXPLORATION
Folha de S.Paulo, 12 Apr 2000, p. 2-2:-
 The Chinese Petroleum Corporation (CPC) paid the amount of US$ 150,000 on
April 11th 2000 to participate of the tender for the concession to explore
and produce oil and natural gas in an area in the Brazilian Campos Basin, in
the state of Rio de Janeiro. This tender will be held on June 7th.

ARGENTINA: CARREFOUR ADVANCES IN PETROL
America Economia, 6 Apr 2000, p. 25-27:-
 The French hypermarket chain, Carrefour, wants to sell its own brand of
petrol in Argentina. Although reluctant to give details, the company says it
will respect its current contract with Eg3 until it runs out. Carrefour
currently has 12 self-service petrol stations adjacent to hypermarkets in the
country selling between 20,000 and 30,000 litres daily at a cost 12% below
the market average. With 4 more stations to be added soon, Carrefour is
paving the way to repeat its success in France. Although economic advisors to
Repsol/YPF (owners of Eg3) maintain that Carrefour can not make money from
selling petrol at cheaper prices, a Carrefour spokesmen maintained that if it
were not profitable, they wouldn't be doing it.
Petrol sells at US$ 1.13 the litre in Argentina, the highest in Latin
America. The big players there, Repsol-YPF, Shell and Esso, tend to adjust
prices upwards when international prices rise but not the reverse when they
go down. Carrefour plans are being applauded by the government and consumers
alike.

BRAZIL: VENEZUELAN OIL REFINING IN BRAZIL
O Estado de S.Paulo, 12 Apr 2000, p. B-2:-
 There is a rumour affirming that the project to install a refinery of the
Venezuelan oil company PDVSA in the Brazilian Northeast region began to be
discussed again when the Brazilian president Fernando Henrique Cardoso
visited Venezuela.
But such rumour is not confirmed by the Brazilian state-owned oil company
Petrobras.

URUGUAY: UTE-ANCAP ALLIANCE
El Observador, 11 Apr 2000, p. on line:-
 Uruguay's state-owned energy firm UTE and this country's oil company ANCAP
will have to create an alliance to play as a holding in the negotiations they
will face with the companies that are currently constructing the gas pipeline
Cruz del Sur, which will link Argentina and Uruguay. The combined force of
both companies may allow Uruguayan consumers to be benefited with lower
prices and tariffs. The alliance was encouraged by Uruguay's president Jorge
Batlle. UTE also announced it prefers to construct a new thermal station in
Paysandu, Uruguay, instead of transforming one of its plants located on the
Atlantic coast. The move will allow UTE to obtain reduced prices from gas
suppliers, mainly Pan American Energy, TGS and British Gas, all of them
partners in the Cruz del Sur project. UTE is studying three different
alternatives of power stations. First, a 120 MW-180 MW thermal station,
second, a 240 MW-340 MW station or a 800 MW thermal station in association
with international firms interested in trading electr
icity to South Brazil.

BRAZIL: AZURIX KEEPS FORTIFYING
Gazeta Mercantil, 12 Apr 2000, p.C-6:-
 Azurix, a subsidiary of the American group Enron, keeps using the strategy
of small investments to fortify in Brazil.
Geoplan, the subsidiary of Azurix which won the tender for water and sewerage
supply in the city of Sao Jose do Rio Preto (Brazilian state of Sao Paulo),
will start an audit, which was a condition for the concession, in the
regional sanitary division of the city. The contract will be signed 15 days
after the end of the audit.
According to the president of Azurix in Brazil, Flavio Godinho, although the
company was not pre- qualified for the tender of privatisation of the
Brazilian sanitation company Manaus Saneamento, Azurix will try to acquire
Embasa (sanitation company of the state of Bahia) and Compesa (sanitation
company of the state of Pernanbuco), which may have their tenders held by the
end of 2000.

MEXICO: ENRON WIL BUILT NEW POWER PLANT
Excelsior, 11 Apr 2000, p.:-
 The new power plant of Enron in Monterrey, Mexico, will start its operations
by the beginning of 2002.
The plant will have an installed capacity of 245 megawatts/hour and 210
ton/hour of steam. The Groups Vitro and Imsa are the first companies in
signing an agreement with Enron. Mr. Max Izaguirre, president of Enron
Mexico, said that there is still power capacity for a few other industrial
companies that may be interested.
The companies signing the agreement will have to pay the monthly fee for the
service and have to get at least one share in the Enron project, which does
not mean that they have to be co-investors.
The Mexico power demand grows by an average of 6% every year. During the
first quarter of 2000 the demand has grown substantially by 7.5%. The
government projects the increase of the power generation by 22,000 megawatts
within the next 7 to 8 years.


Bart,

Sorry I didn't get back to you right away.  Because I had my hard drive switched out last week, I have to reinstall SQL server on my computer.  However, because of the latest virus scare, they've taken away my administrator access to my machine.  This should all be taken care of this week.  Please check back with me, and I should be able to provide you with the load data.

Mat


The memo applies to ENA and its other trading affiliates, Enron Canada Corp.
and Enron Capital & Trade Resources International Corp.).  If you work for
any of these trading affiliates, this memo would apply to you.  Because of
the constraints of our company wide broadcast system, they could not limit
the email in some offices to only those companies, so we had to send it out
to the whole office.  If you do not work for those companies, this does not
apply to you.

	Rod Hayslett@ENRON
	06/22/2000 11:39 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Enron North America Corp. NYMEX Hedge Exemption Applications

Since I am not an ENA officer, employee, owner, or agent having a power of
attorney or control, I don't understand why I received this request.

	From:  Mark Taylor                           06/21/2000 06:39 PM

Sent by: Enron Announcements
To: All Enron Houston, Everyone_in_ECT_Calgary, Everyone_in_ECT_London,
Everyone_in_ECT_Portland, Everyone_in_ECT_New York, Everyone_in_ECT_Denver,
Everyone_in_ECT_Oslo, Everyone_in_ECT_Singapore, EI-Australia, Buenos Aires
Argentina - Office Staff, Buenos Aires Argentina - TGS Office Staff, Enron
Everyone_EOG_Denver, Enron Everyone_EOG_Calgary
cc:

Subject: Enron North America Corp. NYMEX Hedge Exemption Applications

We are in the process of preparing applications for position limit exemptions
for ENA,s NYMEX energy commodities futures trading.  These applications
require that ENA represent whether its officers, employees, owners, or agents
have a power of attorney, control or have a financial interest in any other
related commodity future(s) account either individually or acting with
another person pursuant to express or implied agreement.

Please direct any responses to my paralegal, Tana Jones, via intercompany
email or call her at (713) 853-3399 by the end of business Friday, June 30,
2000 if you have any power of attorney, control or have a financial interest
in any commodity futures account (other than an ENA or other trading
affiliate account).

IF YOU DO NOT HAVE A COMMODITY FUTURES ACCOUNT, YOU DO NOT NEED TO RESPOND TO
THIS REQUEST.