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September 27, 2000
Vol. 2, No. 19
?
The Answer, My Friend(
?
How do we develop a cleaner, sustainable electric industry? The answer is
literally blowing in the wind. In fact, about 100 MW of new wind generation
will  be operating in Pennsylvania by 2001 * a small portion of the
Commonwealth,s  total wind resource, which is enough to produce about 13
billion kWh or 10% of  Pennsylvania,s total electricity consumption. But
challenges must be overcome to  keep this crop from fading into thin air.
?
Why are obstacles being overcome to make wind power part of Pennsylvania,s
energy future? Customers want clean energy, and wind is readily available,
especially in the northeastern, central and southwestern areas of our state.
While some other states have better wind resources, Pennsylvania has plenty
of  Class 3 wind resources and a good bit of Class 4, much of which is
located in  rural communities. Ironically, sufficient wind resources are also
often found in  formerly important coal centers that were decimated when
machines replaced human  labor and mines were emptied of marketable coal. It
could offer these  communities a sustainable economic future, as the wind is
never mined out.
?
Just one year ago, when E-cubed discussed reasons to &Go With the  Wind,8
(Vol. I, No. 9, 9/14/99) no commercial wind farms were operating in
Pennsylvania, but our state had, and still has, the most vibrant customer
choice  program in America. Today, there are already two new, clean renewable
wind  generation facilities that were built in direct response to consumer
demand.
?
The 10.4 MW Green Mountain Farm in Garrett, Somerset County, can produce
about 25,000 MWh of electricity, enough to serve about 2,500 households each
year.? The 130 kW Pennsylvania Wind Energy Project in Hazleton, Luzerne
County, can produce about 200,000 kWh of electricity and will double in size
this fall. But even when additional 130kW turbines are installed, Community
Energy,s &wind block8 sales will have served only about half of the small
commercial customer load that subscribed to its limited &pilot8 marketing
program. These two operating wind farms avoid 123 tons of S02, 12,000? tons
of CO2, and 4,700 tons of  NOx.
?
Two larger wind farms are expected to be operating next year. Atlantic
Renewable and International Wind are developing a 15.6 MW Mill Run wind farm
in  Fayette County, and National Wind Power is developing a facility near
Scranton,  Lackawanna County, which will produce at least 15 MW initially.
Although not all  will be completed by the end of 2001, seven other projects
by five active wind  developers are scheduled to provide an additional 110 MW
of new wind generation  in Pennsylvania during and after 2001. The wind
industry expects that about 200  MW could be built in Pennsylvania within two
to three years. If 100 MW of  additional wind generation replaced system
power, Pennsylvania would avoid 1,250  tons of SO2, 123,000? tons of CO2  and
48,000?tons of NOx.
?
These new wind developments are fueled not just by wind, but by investment
dollars and consumer demand as well. The Pennsylvania Wind Development
Program  recently announced the availability of wind energy production
incentives, for  new facilities that become operational by the end of 2001,
of up to 1.5  cents/kwh for five years. The program, operated for the
Sustainable Development  Fund by The Reinvestment Fund, will receive $12
million from settlement of the  PECO/Unicom merger, which is expected to
become final in November.
?
Construction by the end of 2001 is also important because the federal
Production Tax Credit for new wind development expires at that time, and it
is  unclear if it will be renewed.
?
Production incentives are crucial for wind power, especially in
Pennsylvania, where wind resources tend to peak in both the winter and
during  the late evening hours when the demand for electricity is low. In the
current  market, the estimated average energy value from wind power is only
about 1.5 to  2.0 cents/kWh. The &green attribute8 can fetch about another
2.0 cents/kwh for  total market revenues of around 4.0 cents per
kilowatt-hour.
?
California wind production, on the other hand, generally peaks in the
afternoon when the demand for electricity is high, resulting in average
electric  sales value of approximately 3.0 cents/kWh.
?
By comparison, wind costs about 5.0 cents per kilowatt-hour to produce in
Pennsylvania.? The cost is on the way down, although it could be some time
before it dips as low as the 3.0 cents and less mark in those areas of the
country with the very best wind resources.
?
However, total generation costs of Pennsylvania wind compare favorably to
all-in nuclear generation costs, such as Limerick,s 8.5 cents/kwh and
Susquehanna's near 7.0 cent all-in cost, but still cost about 33% more than
total costs of a new fossil fuel plant. Of course, existing nuclear plants
do  not have to recover the all-in production costs through the market,
because  those costs are subsidized by stranded costs payments. The $12
million of  funding in the Pennsylvania Wind Development Program is a drop in
the bucket  compared to the billions of dollars that subsidize nuclear power
plants.
?
Another challenge to new wind power is that the exploding demand for wind
turbines throughout the world and the rush to build American wind farms by
December 2001 are stressing the capacity of turbine manufacturers to meet
orders. Only five qualified wind manufacturers do business in the U.S. Of
the  five, two are taking no new orders through 2001, while two others have
limited  capacity remaining for additional orders. The leading manufacturers
are  unfortunately not American but European * many are just beginning to
have enough  business in the U.S., and Pennsylvania in particular, to
support? necessary  sales and operating support.
?
If turbines are available to harvest the wind, Pennsylvania,s wind resource
is sufficient for commercial development, but does not generate as much or
as  valuable electricity as in other states. For example, some states may
have Class  5 wind that blows strong and steady during peak electric load
times. The best  sites in Pennsylvania are only Class 4, and the wind often
blows intermittently.  In addition to the lower average price for the
electricity generated at off-peak  times, the resource at a site is crucial
to project finances and requires  detailed assessment. A site generally must
be &metered8 for a full year before  investors will make a commitment to a
project.
?
Although there are no technical barriers to interconnection of wind
generation to the grids in Pennsylvania, the intermittent nature of wind
also  makes interconnection with a system based on predictable generation
more  difficult and less economic. For example, some operating systems still
have  rules that impose substantial penalties for inaccurate scheduling of
generation,  even though the real time balancing markets required under FERC
Order 2000  should eliminate the need for these penalties. The intermittent
nature of wind  makes such rules especially burdensome for wind projects.
?
On the bright side, some of the early problems with wind generation are
successfully being overcome. New wind turbines now purr along quietly
compared  to older technologies. New turbines also turn quite slowly and
developers are  sensitive to the rights of birds to fly. While wind turbines
were once  considered eyesores, the sleek postmodern look is increasingly
found attractive,  especially in comparison to transmission lines, cell
towers, or the strip mining  that often occurred on the same land upon which
the turbines are now being  built.
?
Communities also are welcoming wind projects, not just because problems
related to noise, birds, or view sheds can be minimized, but as important
rural  economic development and supplementary income to farmers. A farmer can
receive  rental income of about $2,700 per year per turbine erected on a tiny
portion of  farmland without significant interference to farming operations.
A 15-turbine  wind farm could add $40,000 in annual income to a hard-pressed
small  farmer.
?
A rural township can also expect a boost in its tax base.  For example, when
the wind farm was built, the Garrett tax base increased about  100%. And,
local construction contracts comprise about 20% of the cost of a new  wind
development, so that a $15 million wind farm generates about $3 million.
Conservation Consultants, Wind Farm USA Project works in farming areas with
the  best wind development potential to help rural communities understand
the  economic as well as environmental benefits of new wind development.
?
Pennsylvania will never have the best wind resources, but the remaining
challenges facing its wind industry can readily be overcome. The federal
Production Tax Credit should be extended for several years, the Pennsylvania
Wind Development Program should be expanded, and system operators should
correct  their rules in order to eliminate unnecessary barriers to the
development of our  burgeoning wind industry.
?
Ultimately, consumer demand may resolve these problems. If consumer demand
is strong enough, the manufacturers, markets, systems operators and others
will  find doing business in Pennsylvania wind to be just another day at the
office,  or should we say, down on the farm.

E-cubed is available for reprint in newspapers and other publications.
Authors are available for print or broadcast.

Support E-cubed by becoming a member of PennFuture * visit our  secure online
membership page at www.pennfuture.org by clicking on &Support  Our Work.8


You crack me up...I absolutely loved the trading analogy (at times your
insight is frighteningly dead on).

Don't worry about me though.  I will be patient and remain optimistic,
despite let downs.  And, in no way, shape or form will I settle and end up
with some dush.  You would have been proud of me though, for the first time I
was really able to let down a lot of those walls and be a little more
vulnerable.

I'm thrilled things are going so well with Shannon.  I think your attitude
about the whole situation is extremely healthy and mature (it amazing what
happens when you care more about the other person than yourself).

Talk to you soon,

Susan

* Be sure and let me know next time you're coming to Houston.  We'll go grab
a drink and have a good talk.


Hello everyone:

We have moved the Wednesday V@R luncheon from 19C2 to 19C1
beginning today.

Thanks!

Shirley


John,

Note their lawyers are Paul Hastings.  We need to take that into
consideration.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/29/2001 06:11
PM ---------------------------

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 03/29/2001 05:56:50 PM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc: "Keffer, John" <JKeffer@KSLAW.com>

Subject: FW: Enron/Delta Turbine Transaction/ Comments to Letter Agreement

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

-----Original Message-----
From: Lang, Gregory F. [mailto:gregorylang@paulhastings.com]
Sent: Tuesday, March 20, 2001 9:22 PM
To: 'jake.thomas@enron.com'; 'stephen.thome@enron.com';
'kay.mann@enron.com'; 'carlos.sole@enron.com'; 'ccampbell@kslaw.com'
Cc: 'dvanech@deltapower.com'; 'rvicens@deltapower.com';
'srahman@deltapower.com'; Hawkins, John D.
Subject: Enron/Delta Turbine Transaction/ Comments to Letter Agreement

"paulhastings.com" made the following annotations on 03/20/01 19:23:16
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 - ATT78896.txt
 - ATT78897.htm
 - Stamford.pdf


Louise,

Those numbers are impressive without a doubt.  The success has had the
unfortunate consequence of showing the limits of our current internet
technology.  The delays in messages from the stacks to the website have
gotten worse in recent weeks.  This is only anecdotal evidence but as a
trader on the system it has been very frustrating.

Regards,

Pete Keavey


Please see attached.  If you have any questions, please call Brenda
Flores-Cuellar at 713-853-1914 or Tom Gros at 713-853-5537.

 -----Original Message-----
From:  Greg Drillock <gdrillock@sempratrading.com>@ENRON
[mailto:IMCEANOTES-Greg+20Drillock+20+3Cgdrillock+40sempratrading+2Ecom+3E+40E
NRON@ENRON.com]
Sent: Tuesday, February 27, 2001 4:29 PM
To: Solmonson, Mary
Cc: Gros, Thomas D.; Jeff Rosenzweig; Vincent Loud
Subject: RE: Dates/Times for Possible meeting to discuss back office autom
ation

Jeff and myself would like to come down for a visit next Wednesday, March
7th.
Could we schedule a meeting for 11am?

-----Original Message-----
From: Solmonson, Mary [mailto:Mary.Solmonson@ENRON.com]
Sent: Monday, February 26, 2001 6:19 PM
To: Greg Drillock (E-mail)
Cc: Gros, Thomas D.
Subject: Dates/Times for Possible meeting to discuss back office
automation

I enjoyed speaking with you last week.  As promised, below are proposed
times for a meeting in Houston to explore the opportunity we have to
offer in more detail.  I have also spoken with representatives in Enron
Online regarding your desire to receive a feed of deal data from EOL and
should have someone available to discuss potential solutions with you.

Here are some proposed dates/times to pick from.  Let me know what suits
your schedule best.  We're thinking we'll spend the first bit of time
giving you an overview of what we're working on and proposing and then
go from there.  We'll probably spend at most 2 hours in this first
meeting.

Wednesday 3/7    anytime between 10-5
Thursday     3/8  anytime between 8-12
Friday         3/9  anytime between 11-5

We would also enjoy the opportunity to treat you to lunch if scheduling
permits.  Let me know which day/time works best for you and I will
proceed with finalizing the schedule.

****************************************************************************
This e-mail contains privileged attorney-client communications and/or
confidential information, and is only for the use by the intended recipient.
Receipt by an unintended recipient does not constitute a waiver of any
applicable privilege.

Reading, disclosure, discussion, dissemination, distribution or copying of
this information by anyone other than the intended recipient or his or her
employees or agents is strictly prohibited.  If you have received this
communication in error, please immediately notify us and delete the original
material from your computer.

Sempra Energy Trading Corp. (SET) is not the same company as SDG&E or
SoCalGas, the utilities owned by SET's parent company.  SET is not regulated
by the California Public Utilities Commission and you do not have to buy
SET's products and services to continue to receive quality regulated service
from the utilities.
****************************************************************************


i see.  and where do i tell fred and ny that i am going?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 11:24 AM
To:	Nelson, Michelle
Subject:	RE:

you have to go for work

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 11:23 AM
To:	Maggi, Mike
Subject:	RE:

and how do you suggest that i manage that?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 11:21 AM
To:	Nelson, Michelle
Subject:	RE:

til sunday

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 11:21 AM
To:	Maggi, Mike
Subject:	RE:

for how long?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 11:20 AM
To:	Nelson, Michelle
Subject:	RE:

next thursday

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 11:20 AM
To:	Maggi, Mike
Subject:	RE:

very funny.  so when are we leaving?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 11:18 AM
To:	Nelson, Michelle
Subject:	RE:

nope ny

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 11:17 AM
To:	Maggi, Mike
Subject:

did you book my flight to pakistan?  i am thinking that i need to be leaving soon.  like tomorrow.


Professor Titman:
Thank you for talking with the people in the admissions office.  I wanted to
ask you what you think I could do at this point to help the admission's
people understand the reason for my GMAT score.  I know that this is a poor
reflection of what I can actually achieve and I know that I will do well and
be successful in the learning environment at UT.  If I need to, I can provide
the admissions office the documents stating the disability.  If you can let
me know what you think I can do, I would appreciate it.  Thanks agin!
Ben


You may wish to quickly skim through the details below, of the Government's
decree (the final action on the Endesa/Iberdrola merger), modifying slightly
what the Competition Authority did on the case.  If you wish to skip down,
you may go to the heading "Commercialisation" (the Spanish term for
marketing/supply function).  There you will see the outlines (details to
follow) of what I described in the Staff meeting today, which is the
limitation on the merging incumbents being able to only obtain 60% of the
business of new/renewing customers, i.e., those customers must seek services
from other suppliers.  I am not aware of such a concession being extracted
anywhere else before, and this is all due to the efforts of Alfredo
Huertas.   It should bode well for businesses like Enron Direct, and toward
the development of a contracts market where others will need to trade with us
and seek our risk mangaement skills.  let me know if you need more.   mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 05/02/2001
16:25 ---------------------------

	From:  Alfredo Huertas                           02/02/2001 17:15

To: Ignacio Soneira/MAD/ECT@ECT, Gonzalo Gomez-Navarro/MAD/ECT@ECT, Eric
Gonzales/LON/ECT@ECT, Mariano Gentilini/LON/ECT@ECT, Jose Luis
Gomez-Banovio/LON/ECT@ECT, David Gonzalez/LON/ECT@ECT, Paul Mead/LON/ECT@ECT,
Pedro Del Rio Alcalde/LON/ECT@ECT, Robert Saltiel/LON/ECT@ECT
cc: Mark Schroeder/LON/ECT@ECT, Peter Styles/LON/ECT@ECT

Subject: Spanish Govt. authorises the merger, but...

We do not know the particulars of the following press headlines (the decree
will be published on Monday). Comments below s/t the actual drafting of the
decree:

Generation

Market share of 42% of generation: We do not know if this is expressed (in MW
or MWh, etc...). Still unknown if this includes special regime generation; if
yes, the market share of ordinary regime generation may go down to 35% (we
insisted on 30%).

Divestiture by auction, as we proposed.

This share could not be increased until 2005, but no aparent limitation on
new built generation for the merged.

Particulars about the mix are still ambigous.

Transmission

Reduction on the participation on OMEL and REE to 10%

Distribution

Market share of 48% of distribution: As above, we do not know yet how this is
expressed, but Vicent was suggesting last Tuesday that a "meaningful"
criteria was going to be applied, as opposed to the "meaningless and biased"
suggested by the utilities and the CNE. We recommended 40% as compared to 66%
proposed by the utilities.

Commercialisation

Market share of 40% of new + renew contracts on the whole Spanish territory.
On the top of this, the merged company's market share cannot go beyond 60% of
new + renewed contracts on its own distribution area. Although our proposal
of applying these same limits to existing and new contracts has not gone
through (there were actually legal problems involved on that), we could claim
a great deal of "responsibility" on implementing the second boundary relative
to their own distribution area. (We actually had to convinced Sempra and
Aquila to support this initiative).

Although we do not know yet how the % is expressed (as above), it is very
important the second limitation on their own distribution territory, in order
to spur retail competition and tackle distcos' discriminatory behaviour on
access and metering issues. Recall that by 2003 all customers are eligible,
and this limitation will last until 2005.

CTCs

CTCs rights are passed to new owners, but the capital gains associated to
divestiture to offset CTCs rights of the seller. We battled for this last
piece, but not for the transferral of CTC rights to new owners. We will need
to analysed this more carefully in the decree itself.

No more securitisation! The 4.5% of the tariff, which was devoted to fund
CTCs has been eliminated. Therefore, we come back to the early days
mechanism. Implications:
  1) the CTC mechanism will be more transparent now, but still opaque
overall;
  2) Will the 1998 CTC write-off be re-established, that is, will CTCs
increase? More details on Monday

Penalties

 ?12,020 per day where the conditions above are not satisfied.

a.


When: Friday, January 18, 2002 10:30 AM-11:00 AM (GMT-06:00) Central Time (US & Canada).
Where: tbd

*~*~*~*~*~*~*~*~*~*


Hi Chris,

Please send me Sep's price.

Thanks,


Ignore my comment about being a one day deal!  Sorry!


WHAT IS THE CROSS STREET ON RICHMOND??


To my knowledge we are not building a power plant in Ontario.  I have been meaning to give you a call.  I will try sometime this week.

Talk to you later
 -----Original Message-----
From: 	"david paul smith" <david_p_smith@hotmail.com>@ENRON
Sent:	Tuesday, September 25, 2001 9:26 AM
To:	Zufferli, John
Subject:	sunny seattle

Zuf:

How's things in canuckland?

I heard through the grapevine a little zuf will be in calgary soon!

congrats to you and jess.  exciting news.

do you know anything about an enron power plant being built in ontario?

my brother scott wants to find out where & when- he is in the plumbing biz
and wants to see if he can get on a contract with them?

Do you have any thoughts on how he could find out details?

give me a call sometime. 206-399-4597-cellular.  give jess a big kiss for
me!

in hoc,

pb smith :)

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp


I think that everyone has heard of this by now.     This makes it even more
imperative that our costs are documented.   This includes keeping up the
hourly sheet and having access to the Services generator spreadsheets.
Costs must be "just and reasonable."      Be ready to document opportunity
costs in the NW and the SW.  If you have questions as to what is just and
reasonable,  give me,  Bill,  Steve Hall or Tim B a call.

Note the penalties mentioned in 2. and 3.    We will not "dec load" until
futher notice,  as we dont have the  telemetry to accurately measure whether
we are long or short in any given instance.    Our company preschedules an
amount of energy necessary to cover forecasted load.   If this load is
higher,  we will be subject to the penalties listed below.     The Real Time
group will not expose company to any such charges.

See (3.) There are Services related penalties for all generators that dont
respond to ISO (ADS) instructions.   As everyone is aware,  the ISO has had
problems with this system.    We must be diligent in documenting all problems
with ADS,  as this can be a very costly disagreement.

JMF

---------------------- Forwarded by John M Forney/HOU/ECT on 12/11/2000 08:11
AM ---------------------------

Steve C Hall
12/09/2000 01:10 PM
To: Tim Belden/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Jeff
Richter/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, John M Forney/HOU/ECT@ECT,
Greg Wolfe/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT, mwood@stoel.com, Elizabeth
Sager/HOU/ECT@ECT
cc:
Subject: ISO Emergency Tariff Modifications (Tariff Amendment 33)

On Friday, about 3:00 pm, the ISO filed for emergency tariff changes, some of
which are effective as of December 8, 2000 beginning HE 1600, and others that
take effect Tuesday, December 12, 2000.  As a consequence, we no longer have
the luxury of waiting until Jan 1, 2001 to start documenting certain costs;
we must start documenting the verifiable costs to support supplemental energy
and ancillary services energy bids in excess of the $250 soft cap
immediately.  I understand that at least some of the traders have been
informed of these changes, but I thought that it might be helpful for
everyone to have a concise summary of the main points of this filing.

1.  The ISO has changed the $250 hard cap on Supplemental Energy bids and
Ancillary Service Energy bids to a soft cap.  It's similar to the FERC's
proposed soft cap in its Nov. 1 Order.  Sellers can bid over $250 for
supplemental energy bids and ancillary services energy bids.   If the ISO
accepts a bid greater than $250, settlement will be as-bid and subject to
refund if costs cannot be verified.  SCs must submit cost documentation to
the FERC, ISO, and California Electric Oversight Board for all energy
dispatched in excess of the soft cap.  Effective December 8, 2000.

2.  Beginning Trade Day December 12, 2000, the ISO is going to charge SCs who
underschedule load or schedule generation that does not show up in real time,
based on each SC's net regional negative uninstructed deviations.  ("Net
Negative Uninstructed Deviations" is a new ISO defined term, see below.)
These SCs will be charged for (1) amounts paid by the ISO to purchase Energy
from bids above the price cap, and (2) costs for Energy associated with
out-of-market Dispatch instructions issued due to underscheduling.

3.  Participating Generators that fail to respond to ISO Dispatch
instructions will be assessed a penalty equal to double the highest price
paid by the ISO for Energy for the hour in which the Generator failed to
respond.  The penalty will not be assessed if the Generating Unit gave the
ISO advance notice of a de-rate or outage that would limit the Generator's
ability to respond to a Dispatch instruction.  If the outage or de-rate
occurs in real-time, then a reason code provided with a decline or partial
acceptance of an ADS instruction will constitute notice and no penalty will
be assessed (subject to some additional conditions).  If the ISO has to
curtail firm load to manage a System Emergency, the Generator will pay an
additional penalty of $1000/MWh for dispatched energy it failed to deliver.

4.  Bilateral arrangements with the ISO, i.e., out of market purchases, will
not be altered by the ISO's Amendment 33.

5.  From December 1-5, the ISO paid an average of $5 million per day for real
time energy.  On December 5th, the ISO paid $36 million and on December 7th
$81 million.

6.  The published ex post price will not exceed $250.

7.  There is still a hard cap of $250 on Ancillary Services capacity bids.

8.  Net Negative Uninstructed Deviations:  Penalties for being short in
real-time (either underscheduled load or generation scheduled in forward
markets that does not show up) are based on net deviations for each BEEP
interval, based on an SC's entire portfolio, including Load, Generation,
Imports, and Exports.

9.  Action:  We need to start documenting costs of Supplemental Energy and
Ancillary Services Energy bids immediately.  Much of the groundwork for
figuring out what information to collect has been done with respect to the
real-time and services desks, but we need to make sure that someone is
collecting this information on a daily basis.  For now, I am willing to be
the point person to make sure the information is collected and filed with the
appropriate agencies, but eventually  someone from the floor should take on
this responsibility.  I will be here early on Monday, and we can coordinate
our efforts then.

Steve


(b) Agreement To Arbitrate:  Any claim, counterclaim, demand, cause of
action, dispute, and controversy arising out of or relating to this Agreement
or the relationship established by this Agreement, any provision hereof, the
alleged breach thereof, or in any way relating to the subject matter of this
Agreement, involving the parties and/or their respective representatives
(collectively the &Claims8), even though some or all of such Claims allegedly
are extra-contractual in nature, whether such Claims sound in contract, tort,
or otherwise, at law or in equity, under state or federal law, whether
provided by statute or the common law, for damages or any other relief, shall
be resolved by binding arbitration.

Conduct Of The Arbitration, And Authority Of The Arbitrators:  Arbitration
shall be governed by the Federal Arbitration Act and conducted in accordance
with the Commercial Arbitration Rules of the American Arbitration
Association.  The validity, construction, and interpretation of this
agreement to arbitrate, and all procedural aspects of the arbitration
conducted pursuant hereto shall be decided by the arbitrators.  In deciding
the substance of the parties, Claims, the arbitrators shall refer to the
Governing Law.  It is agreed that the arbitrators shall have no authority to
award treble, exemplary or punitive damages of any type under any
circumstances whether or not such damages may be available under state or
federal law, or under the Federal Arbitration Act, or under the Commercial
Arbitration Rules of the American Arbitration Association, the parties hereby
waiving their right, if any, to recover any such damages.

Forum For The Arbitration And Selection Of Arbitrators:  The arbitration
proceeding shall be conducted in [New York, New York][Houston, Texas].
Within thirty days of the notice of initiation of the arbitration procedure,
each party shall select one arbitrator.  The two arbitrators shall select a
third arbitrator.  The third arbitrator shall be a person who has over eight
years professional experience in over-the-counter derivative products and who
has not previously been employed by either party and does not have a direct
or indirect interest in either party or the subject matter of the
arbitration.  While the third arbitrator shall be neutral, the two
party-appointed arbitrators are not required to be neutral, and it shall not
be grounds for removal of either of the two party-appointed arbitrators or
for vacating the arbitrators, award that either of such arbitrators has past
or present minimal relationships with the party that appointed such
arbitrator.

 Confidentiality:  To the fullest extent permitted by law, any arbitration
proceeding and the arbitrators award shall be maintained in confidence by
the  parties.

	Marcus Nettelton@ENRON
	02/08/2001 04:25 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Arbitration Language

Tana

I dropped by a couple of times today but your seat was empty, hence the email.

Would you be kind enough to forward to me the latest ISDA language for
arbitration, which I understand may include wording addressing temporary or
expedited relief.

Many thanks.

Marcus


Sara/Susan,
Rafael has sent the information to me and Kelly is dropping it off to you now.
Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/26/2000 03:10
PM ---------------------------

Rafael Rangel@ENRON_DEVELOPMENT
05/25/2000 10:20 AM
To: Sheila Glover@ENRON_DEVELOPMENT, Don Overby@ENRON_DEVELOPMENT
cc: Danthea Dumayas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
florencia.groppo@hds.com.ar>, Veronica Perez
Subject: Re: Contacts

Sheila, as discussed yesterday, I need to do the following:

Open a brokerage account at Morgan Stanley for Enron de Inversiones de
Energia S.C.A. (an Argentine company) (EDIDE)
This account will hold ADRs that will be contributed or transferred into its
account by Enron Pipeline Company-Argentina S.A.  (EPCA)(account #038-088357)
at Morgan Stanley.
EPCA will contribute 431,300 ADRs in Transportadora Gas del Sur (TGS) into
EDIDE's new account.  That contribution represents the capital contribution
that EPCA is obligated to make under the capital increase resolution dated
February 20th, 2000.
After the ADR's are transferred into EPCA's accounts, EPCA will need to
convert such ADR's into ordinary Class B shares in TGS so that they can be
registered accordingly in Argentina.

Sheila, I am forwarding a hard copy of this e-mail with appropriate support
(corporate resolutions authorizing me to open this account, resolution
authorizing the increase in capital and some forms that I had Eduardo
Ojea-Quintana (President of EDIDE) sign).

Please review and advise of what else you need to finalize this transaction.

Best Regards,

RFR

---------------------- Forwarded by Rafael Rangel/ENRON_DEVELOPMENT on
05/25/2000 09:50 AM ---------------------------

Rafael Rangel
05/24/2000 05:50 PM
To: Sheila Glover@ENRON_DEVELOPMENT
cc: Danthea Dumayas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Re: Contacts

Sheila, finally ready to open up the account at Morgan Stanley for EDIDE so
that EPCA can transfer the correct amount of ADRs.  I have the Corporate
Resolution from EDIDE.  I understand that the contact at Morgan Stanley has
changed.  Please advise.

RFR

To: Danthea Dumayas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rafael
Rangel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Contacts

I will be out on maternity leave soon (hopefully).  In my absence, please
call Sheila Glover (3-3210) for any questions that you may have.  If you just
need a copy of an old report, please call Aneela Charania at 3-0951.

Thanks,

Terri
3-9899


-----Original Message-----
From: 	Bailey, Robert
Sent:	Tuesday, March 12, 2002 2:38 PM
To:	Germany, Chris
Subject:	RE: info

Thanks!

Hey, forward my information to Judy.  What is her email???

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, March 12, 2002 2:37 PM
To:	Bailey, Robert
Subject:	RE: info

gocha, not a bad idea.

chris_germany61@hotmail.com
2701 Revere St #221
Houston, TX  77098

home 713-527-0534

 -----Original Message-----
From: 	Bailey, Robert
Sent:	Tuesday, March 12, 2002 2:33 PM
To:	Germany, Chris
Subject:	info

Chris,

I am sending you my contact information in case you ever need it.  I am not leaving or anything, just building a sheet to keep up with everyone.

RB Bailey
4414 Santee St.
Houston, TX 77018
713-956-0982 Home
Robert2x2@msn.com

Send me your info.

Thanks


Stay away from the Golden Gate!

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Thursday, November 01, 2001 12:27 PM
To:	Kaufman, Paul; Steffes, James D.; Comnes, Alan; Shapiro, Richard
Subject:	FW: FBI information regarding possible terrorist threat on West Coast (IMPORTANT)

FYI.

 -----Original Message-----
From: 	Zavala, Cristina   On Behalf Of Parquet, David
Sent:	Thursday, November 01, 2001 12:13 PM
To:	Alamo, Joseph; barr, anthony; Brodbeck, Kelly; Browner, Victor; Calvert, Gray; Carranza, Octavio; Danielson, Michael; Dasovich, Jeff; Deane, Ryan; Dyer, Laird; Fillinger, Mark; Fukada, Cary; Ha, Vicky; Hrach, April; Kelly, Derek; Kromer, Steve; Ly, Aandy; Mara, Susan; Mcdonald, Michael; Mentan, Ronald; O'Neal, Aida; Parquet, David; Perrino, Dave; Petrochko, Mona L.; Qureishi, Ibrahim; Russell, Dean; Schoen, Mary; Sezgen, Osman; Tully, Mark; Turnipseed, Edith; Wehn, Samuel; Wong, Michael; Yee, Dennis; Zavala, Cristina
Subject:	FW: FBI information regarding possible terrorist threat on West Coast (IMPORTANT)

Hello Everyone,

We just received the following e-mail and wanted to make everyone aware of the information.

Please if you have any questions or concerns, contact Cristina Zavala at 415-782-7819.

Thank you,

Cristina Zavala

 -----Original Message-----
From: 	Ewald, Laura
Sent:	Thursday, November 01, 2001 9:51 AM
To:	Horton, Stanley; Lowry, Phil; Keller, John R.; Hawkins, Don; Martin, Jerry D.; Rice, Randy; Shafer, John; Pribble, Dan; Nelson, Mike; Craig, Rick; Parquet, David; Hrach, April; Mosier, Denny; Haas, Daniel; Umanoff, Adam; Belden, Tim; Calger, Christopher F.; Hartmann, John
Cc:	Kean, Steven J.; Brindle, John; Cromley, David; Norosky, Kyle
Subject:	FBI information regarding possible terrorist threat on West Coast

Enron Corp. Business Controls/Corporate Security received the following information via the National Threat Warning system.  While we do not wish to unduly alarm employees, the specificity of the information dictated immediate dissemination to our West Coast offices.

Managers - please share this information with your employees as you deem appropriate.  If you have any questions/concerns, please do not hesitate to contact Corporate Security at (713) 345-2804.

THE FBI IS IN POSSESSION OF UNCORROBORATED INFORMATION INDICATING THE
POSSIBILITY OF ADDITIONAL TERRORIST ATTACKS AGAINST THE UNITED STATES,
SPECIFICALLY THE WEST COAST.  REPORTEDLY, UNSPECIFIED GROUPS ARE
TARGETING SUSPENSION BRIDGES ON THE WEST COAST.  SIX INCIDENTS ARE TO
TAKE PLACE DURING RUSH HOUR BEGINNING FRIDAY, NOVEMBER 2 AND CONTINUING
THROUGH NOVEMBER 7, 2001.

NO FURTHER INFORMATION ABOUT THIS ALLEGED ATTACK IS KNOWN AT THIS TIME.
THE FBI IS ATTEMPTING TO VERIFY THE VALIDITY OF THIS REPORT.  RECIPIENTS
WILL BE UPDATED AS EVENTS WARRANT.

RECIPIENTS WHO RECEIVE OR DEVELOP INFORMATION RELATED TO THIS MATTER
SHOULD IMMEDIATELY CONTACT THEIR LOCAL FBI OFFICE.

We will keep you apprised if we receive any further information.

Thank you.


I just rely on the market services folks to do the right thing.  Tell me if
you think this is yet another area in which I have too much faith in our
business people.

	From:  Drew Fossum                           01/14/2000 08:35 AM

To: Susan Scott/ET&S/Enron@ENRON, Dari Dornan/ET&S/Enron@ENRON
cc:

Subject: MARKETING AFFILIATE RULE: Standard L: Notice No. 11

Who follows up to make sure these changes get made?  Do you guys call market
services or do we just rely on them to respond to these Frazier-grams?  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 01/14/2000
08:34 AM ---------------------------

Frazier King
01/13/2000 05:27 PM
To: Kim Perez/FGT/Enron@ENRON, Nancy Bastida/FGT/Enron@ENRON, Georgi
Landau/FGT/Enron@ENRON, Geneva Hiroms/Corp/Enron@Enron, Dorothy
McCoppin/FGT/Enron@Enron, Janet Place/NPNG/Enron@ENRON, Bambi
Heckerman/NPNG/Enron@ENRON, Frazier King/FGT/Enron@ENRON,
Margert_Morton@Sonat.com, Dennis Lee/ET&S/Enron@ENRON, Zuela
Carter/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON, Bob M Hall/FGT/Enron@Enron, Patricia
Steele/ET&S/Enron@Enron, Julia White/ET&S/Enron@Enron, Sheila
Nacey/ET&S/Enron@Enron, Shelley Corman/ET&S/Enron@Enron, Dari
Dornan/ET&S/Enron@ENRON, Toby Kuehl/ET&S/Enron@ENRON
cc:

Subject: MARKETING AFFILIATE RULE: Standard L: Notice No. 11

Please open and read the attached "Mkt Aff Memo11" which gives you notice of
the addition of a new company--Bridgeline Holding, L.P.--to the "Exempt
Marketing Affiliate" category of the Enron Pipeline list of "Potential
Marketing Affiliates".  The notice is effective today, the date of formation
of the new company. Standard L of the Marketing Affiliate Rules REQUIRES
POSTING OF ANY CHANGES TO MARKETING AFFILIATES WITHIN THREE DAYS.  This means
that you must add the name and address of this new companies to the the list
of marketing affiliates posted on your respective pipeline's EBB WITHIN THREE
DAYS OF THE COMMENCEMENT OF A TRANSPORTATION TRANSACTION IN WHICH THE COMPANY
IS INVOLVED.

Also, please open the attached "Mkt Aff List11" which is the Eleventh Revised
list of all "Potential Enron Marketing Affiliates".  This list has been
revised to include Bridgeline Holding, L.P.  Keep it in mind that if any of
these affiliates commences or ceases involvment in a transportation
transaction on your pipeline, the company name and address must be
respectively added or deleted from the posting on your pipeline's web site
WITHIN THREE DAYS.  This listing will be revised and sent to you immediately
when there is a change in the list.

Finally, note that affiliated companies which are exempt from being
classified as marketing affiliates are included at the end of the list.  If
any of these companies proposes to transport on your respective Enron
pipeline, please check with your Legal Contact to make sure the exemption is
still in effect.

Individuals listed on the Distribution List of the attached memo
are requested to acknowledge receipt.


John:
I would like for you to come talk to a couple more people on the gas floor
about a possible position down the road.  My assistant Ina Rangle is going to
schedule a couple interviews.  Please coordinate with her.
John


Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante"


Sally,

Thanks. The name of the person is at the bottom of this sequence of messages.

Vince

	Enron North America Corp.

	From:  Sally Beck                           01/05/2001 09:27 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Benchmarking Study

I passed this information along to some of my direct reports for their
thoughts, and truthfully didn't hear back from anyone and didn't follow up.
Two years ago, we agreed to be part of a benchmarking study that was done by
AA's Houston office (interestingly enough, Wes Colwell was the AA partner who
led this effort) and we had mixed results.  The study was designed to cover
gas and power.  Despite our involvement in the steering committee, the study
itself was very, very detailed, such that it was troublesome to complete.
Jim Fallon at the time refused to submit information on the majority of the
questions surrounding power, so our survey data for power was not very
useful.

I would agree that at this time we will pass on this request.  Thanks for
passing it along, however.  I would be happy to convey this directly  to the
person that has contacted you.  Just let me know his/her name and number and
I will follow through on that if you would like.

Hope that your holidays was enjoyable and that the new year will be a good
one for you.  --Sally

Vince J Kaminski
01/03/2001 03:29 PM
To: Sally Beck/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Benchmarking Study

Sally,

I gave you some time ago a brochure on this benchmarking study request.
They renewed their request for Enron's participation.

What is your view on this? Do you think the benefits of knowing what's
going on offset the loss due information released and time spent on the
project.

My recommendation is to forget it.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/03/2001
03:28 PM ---------------------------

"Theresa Sanders" <TSanders@eei.org> on 12/27/2000 01:32:18 PM
To: <vkamins@enron.com>
cc:
Subject: Benchmarking Study

Dear Vince,

Peter Nance and I wanted to follow-up our discussion of Enron's participation
in our benchmarking study.  Have you discussed Enron's participation in the
project with your colleagues?

Here is a small sample set of metrics that were taken from a comprehensive
list of over 700 metrics.  The study group will decide which metrics to use.

With EEI's credibility and Teknecon's technical expertise, we intend to
become the industry standard in benchmarking.  We would very much like to
have Enron participate in the study.

I would be happy to set up another meeting with you and your colleagues with
Peter Nance if you think that would be helpful.

Best regards,

Theresa Sanders
Director of Business Development
Alliance of Energy Suppliers
Edison Electric Institute
Tel: 202-508-5183

 - EEI metrics-short list.xls
 - ebrochure.doc
 - RiskBenc.ppt


The first invoice for $5.4 million went out a couple of weeks ago.  CES came
back to us and said they were not going to pay.  They claimed that the total
of all of the invoices to this date that they have already paid had covered
that amount.  I have researched all of their invoices, and it looks like
there was a demand invoice in the system for the month of June for
approximately $6 million to much.  CES incorporated a credit for that invoice
in with the charge for $5.4 million, netting out to approximately $600,000.
I am meeting with CES on Thursday to see if we are in agreement.  The other
invoice for $7.5 million was sent out last week, CES is in agreement and the
payment should be here shortly.
   If you have any questions don't hesitate to call me.

Molly
x34249

Robert Superty
08/14/2000 04:06 PM
To: Molly Sumrow/HOU/ECT@ECT
cc:
Subject: Re: CES Update

Molly, please see Scott's note below and give us an update.

Thanks - Bob
---------------------- Forwarded by Robert Superty/HOU/ECT on 08/14/2000
04:01 PM ---------------------------

Scott Neal
08/14/2000 03:18 PM
To: Robert Superty/HOU/ECT@ECT
cc:
Subject: Re: CES Update

What is the status of these invoices/payments?

Robert Superty
08/03/2000 04:02 PM
To: Sally Beck/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Brent A
Price/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT
cc: Molly Sumrow/HOU/ECT@ECT
Subject: CES Update

FYI - ongoing CES reconciliation. At this point we will be receiving app.
$5.4M (invoice sent on 7/27) with another $7.5M to be billed to them next
week.

Still more to come, for details read the attached from Molly.

Bob
---------------------- Forwarded by Robert Superty/HOU/ECT on 08/03/2000
03:52 PM ---------------------------

	From:  Molly Sumrow                           08/03/2000 03:47 PM

To: Robert Superty/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Beverly
Beaty/HOU/ECT@ECT
cc:
Subject: CES Update

Attached is the current status of the CES reconciliation.  Please call me if
you have any questions.

Thank You,

Molly


The following 2 employees transferred IN to ETS effective 11/12/01:

	Employee name:			Kevin Howard			Teri Bachand
	Effective date:				11/12/01			11/12/01
	Date position accepted:			11/12/01			11/12/01
	Transfer In/Out:				IN				IN
	Old company name:			ECM Treasury			ECM Treasury
	Old company position:			VP Finance			Coord Admin
	New company name:			Enron Ops Svcs		Enron Ops Svcs
	New company position:			VP Finance (EGS)		Sr.  Admin Asst. (title has not been confirmed yet)
						VP Commercial & Fncl Transaction Support (ETS)


Yes, thanks - I think Tana is going to call to get some help interpreting the
numbers.

Rudi Zipter
01/27/2000 07:42 AM
To: Mark Taylor/HOU/ECT@ECT
cc:
Subject: Useful?

Mark,

Was the market data on gas and power volumes useful to your project?

Rudi


The NYISO is reserving hours beginning 9:00 and 12:00 in the January 16,
2002 Real-Time Market.

In addition, the NYISO is reserving hour beginning 23:00 in the January 16,
2002 Hour-Ahead locational reserve market.

Prices in the January 17, 2002 Day-Ahead Market are correct.

Please note that Market Monitoring will no longer be reserving prices due
to ECA-B.  Code modifications were made on December 20th to incorporate
into the Real-Time price, the BME price in the presence of congestion.  The
incorporation is now an automatic process that is prescribed by the NYISO
tariffs.  This message will appear in price reservation announcements
through January 31, 2002.

This e-mail information is a copy of the official posting which can be
found at the following address of our website:
http://mis.nyiso.com/public/htm/OperMessages/CurrentOperMessages.htm#mm

---
You are currently subscribed to nyiso_tie as: paul.d.thomas@enron.com
To unsubscribe send a blank email to leave-nyiso_tie-629431H@lyris.nyiso.com


E Source Teleconference Examines Ways to Solve California Power Crisis

09/25/2000
PR Newswire
(Copyright (c) 2000, PR Newswire)
BOULDER, Colo., Sept. 25 /PRNewswire/ -- In a teleconference held Friday
afternoon, September 22, 2000, by E Source(TM), industry analysts proposed
several solutions to remedy the imperfections in California's electric market
and discussed ways that those lessons could be applied in other states that
are considering restructuring their electric markets.
No single "silver bullet" solution emerged from the panelists. Rather, they
said that solving the California power situation would require a combination
of supply, demand, pricing, and regulatory solutions.
"It is important that we mend, not end, electric restructuring," said Ralph
Cavanagh, co-director of the energy program at the Natural Resources Defense
Council (NRDC). "Restructuring is a process, not an event," added Becky
Kilbourne, director of market development for the California Power Exchange
(CalPX).
Bill LeBlanc, vice president of retail consulting at E Source, made this
point: "It is very difficult to have an open market and a regulated market at
the same time. And now, as additional regulations are being added to
California's still-opening electric market, new and unpredictable market
distortions are likely. Price volatility -- both upward and downward --
characterizes open markets. In a world of price volatility, customers need to
have access to a rich portfolio of creative pricing options. Those who want
price stability can pay a premium for it. Those willing to play in the
dynamic, real-time pricing market will need load management capabilities that
allow them to shed load quickly when prices spike."
  Specific solutions discussed by the panelists included:
  Supply Solutions

Chris Seiple, director of supply-side consulting for RDI(TM), opined that
this summer's price spikes were principally the result of insufficient power
plant construction in California as its electric demand grew during the
1990s. "The electricity market requires quick responses to changes in
conditions and therefore it is a policy imperative that permitting of power
plants be achieved more swiftly in California," said Seiple. He noted that
electric demand in the western United States has grown by 14 percent during
the second half of the 1990s, but generating capacity has grown by only 2
percent. Roughly 3,600 megawatts (MW) of new generation is currently under
construction and is scheduled to come online next year. An additional 800 MW
of capacity now under construction is slated to come online in 2002, while
another 6,000 MW of capacity is in the advanced development stage, with
varying in-service dates. A further 20,000 MW of capacity is in
early-development stage, he added. However, Seiple cautioned that delays in
construction, a possible shortfall of turbines, and the power-development
process itself could cause a recurrence of this summer's price spikes by
2002.
Not all supply solutions should be fossil-based, said NRDC's Cavanagh, who
pointed out that the state of California is adding additional cost-effective
renewables that will come online in the near future. These new resources will
add to the thousands of megawatts of non-fossil generation capacity that have
been installed over the past 20 years.
Distributed Solutions
In addition to wider use of renewable generation, several panelists agreed
that increased deployment of cost-effective energy efficiency measures would
serve to dampen future electric price spikes. Consumers also need to be
reminded on a regular basis about the importance of wise energy use.
"What California and the West need most urgently now is more of what has
worked best to relieve strained power grids in recent years: investments in
energy efficiency and renewable energy resources, which together have
delivered more than 15,000 megawatts to California alone over the past two
decades," Cavanagh added.
"We need more distributed energy resources and energy efficiency measures to
cut future price spikes," said Michael Shames, executive director of the
Utility Consumers' Action Network (UCAN). He added that many large commercial
customers in California are now considering self-generating their
electricity, because they cannot tolerate sharp price swings and they are
dissatisfied with the risk-management options they have today.
Regulatory and Legal Solutions
Kilbourne of the CalPX advocated limited wholesale price caps and an improved
interface between wholesale and retail electric markets. She also echoed
other panelists when she noted that regulatory disincentives in California
caused many energy service providers (ESPs) to exit that market, leaving
customers with little or no alternative when prices began rising. Having a
larger number of ESPs and a broader range of retail offerings in the market
could help avert future price spikes, she said.
Ron Davis, director of the E Source Strategic Distribution Management Series,
remarked: "The still-regulated distribution companies in California are being
held responsible for protecting their retail consumers against the high
prices in the state's wholesale power market. But by design, they lack the
tools and incentives necessary to keep the power prices they pass on to
consumers low and stable. And now, SDG&E is subject to another rate cap.
Extending SDG&E's performance-based ratemaking (PBR) to the commodity side of
the business, much like was done to allow natural gas services to share in
the savings from securing lower cost supplies, is a better solution to help
insulate customers from price volatility in the future."
Looking Forward
UCAN's Shames concluded that "San Diego's experience is a sobering and
instructive harbinger of deregulatory turmoil that will hit other regions
throughout the country."
E Source believes that price volatility will be part of life in retail
electric and gas markets that are going through restructuring. Retailers and
consumers alike need to protect themselves with hedging investments, load
management capabilities, energy efficiency upgrades, and other measures. E
Source believes that regulators, lawmakers, ESPs, consumers, commercial
customers, and other participants in the restructuring of retail electric and
gas markets should closely follow and implement the lessons from the still-
evolving California market.
E Source and RDI are trademarks of Financial Times Energy, Inc., which is
headquartered in Boulder, Colorado. FT Energy is a leading provider of
objective information and analysis on restructuring electric and gas markets,
wholesale power trends, fuel prices and projections, and other vital
knowledge about the electric and gas businesses. If you would like to speak
with any of the people quoted in this release, please contact Jim Keener at
720-548-5624.

/CONTACT: Jim Keener of E Source, 720-548-5624, jkeener@ftenergy.com/ 14:00
EDT

Folder Name: Electric Restructuring
Relevance Score on Scale of 100: 79

______________________________________________________________________
To review or revise your folder, visit Dow Jones CustomClips or contact Dow
Jones Customer Service by e-mail at custom.news@bis.dowjones.com or by phone
at 800-369-7466. (Outside the U.S. and Canada, call 609-452-1511 or contact
your local sales representative.)
______________________________________________________________________
Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved


Here is the presentation Don and I have been working on.  I sent a copy to
Linda Miller, but please keep this very confidential.  Thank you.
Ben Rogers


All,

For those of you who have not met  with UBS's Immigration Counsel, Kumar Kuman, please review the attached checklist and forward to me the relevant information.   Whilst Tindall & Foster  (Enron's Legal Immigration Counsel) will be able to forward most of this required documentation, it would assist with expediting matters if you are able to forward me this information.   My desk location is 3681c.

For those of you who have signed the release forms  (copy attached) your details on file  with Tindall & Foster will be forwarded to Fragomen (UBS Immigration  Counsel) shortly.

Please utilize me as your contact at this point and not the contact names on the checklist until/unless otherwise notified .

Kind Rgds,

Karen

x 54667


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/23/2001
04:18 PM ---------------------------

"The Power Marketing Association" <pma-marketplace@mgfairfax.rr.com> on
03/22/2001 09:41:10 AM
To:
cc:
Subject: FREE TWO-WEEK TRIAL to Platts Energy Trader

Dear Energy Professional:

We are pleased to start you today on a FREE TWO-WEEK TRIAL to Platts Energy
Trader, providing comprehensive daily market coverage of both natural gas and
electricity in the converging North American energy market. Today's issue is
attached below.

Platts Energy Trader is brought to you by the editors of Inside FERC's Gas
Market Report and Power Markets Week, both published by Platts, the energy
market information division of The McGraw-Hill Companies.

Platts Energy Trader will put on your desktop each morning the best market
reporting available on North American electricity and gas, along with unique
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* Expanded daily natural gas spot prices at more than 60 locations, including
11 new market area points.
* 24 on-peak and 21 off-peak daily electricity indexes.
* The most frequent and comprehensive power outage tables found anywhere.
* Daily key indicators for national forward electric power prices and
national supply area gas prices.
* Succinct national overview of gas and power markets, and how they're
interacting.
* Three regional sections, providing focused coverage for traders, along with
leading news.
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For questions, call our sales department at 877-286-8897 or 212-904-2004;
e-mail, info@platts.com.

Meanwhile, we hope you enjoy your free two-week trial to Platts Energy Trader.

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Platts Marketing Director

P.S.-Want to subscribe now? Call 877-286-8897 or 212-904-2004. The annual
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To decline free trial of Platts Energy Trader, hit reply and type "stop trial.

 - et032201.pdf


Thanks Jill.

JWB

 -----Original Message-----
From: 	TMS OnCall
Sent:	Monday, January 14, 2002 12:59 PM
To:	Buchanan, John; Blair, Lynn; Blair, Jean; Corman, Shelley; January, Steve; Kowalke, Terry; Medeles, Gerry; Nacey, Sheila; TMS OnCall
Cc:	Callans, Nancy; Hibbard, Scott; Benningfield, Robert
Subject:	RE: NNG WKEND NOTES - JANUARY 12&13, 2002

Here is some information on the paths in question.

Robert's Info:
Contract 106252 lowered their Intraday 2 volume to 5,922 mmbtu.(EPSQ)
The EPSQ on Transwestern is 5,921.
The actual EPSQ volume is 5921.5.  TW rounded the volume sown and NNG rounded the volume up.
Contract 106525 was manually scheduled down by 1 mmbtu for the Final 8:00 AM Cycle

TMS actions
(1)   When you inspect the contract 106252 (NNG), you notice that the EPSQ is 5922 on both receipt and delivery because their is no fuel.
(2)   When you inspect the contract 27606 (TW), the EPSQ is 6000 for receipt and 5922 for delivery.  That is calculating each side seperately.
(3)   When the volume was entered for 27606, I assumed they entered the receipt side volume of 6000 (EPSQ caclualted from above).  The fuel is then calculated from that 	and the delivery side is populated.  The fuel rate is .0131 which calculates the fuel volume of 78.6 (rounded up to 79) which in turn calculates the delivery volume to be 	5921.

Jill

 -----Original Message-----
From: 	Buchanan, John
Sent:	Monday, January 14, 2002 6:39 AM
To:	Blair, Lynn; Blair, Jean; Corman, Shelley; January, Steve; Kowalke, Terry; Medeles, Gerry; Nacey, Sheila; TMS OnCall
Cc:	Callans, Nancy; Hibbard, Scott; Benningfield, Robert
Subject:	RE: NNG WKEND NOTES - JANUARY 12&13, 2002

I have started the process to find out why TW and NNG's EPSQ rounds differently.

JWB

 -----Original Message-----
From: 	Blair, Lynn
Sent:	Monday, January 14, 2002 6:34 AM
To:	Blair, Jean; Buchanan, John; Corman, Shelley; January, Steve; Kowalke, Terry; Medeles, Gerry; Nacey, Sheila; TMS OnCall
Cc:	Callans, Nancy; Hibbard, Scott; Benningfield, Robert
Subject:	RE: NNG WKEND NOTES - JANUARY 12&13, 2002

	John and Terry, could we look into TW and NNG rounding in the same direction for EPSQ?
	It seems like that would be more effective.  Thanks. Lynn

 -----Original Message-----
From: 	Blair, Jean
Sent:	Sunday, January 13, 2002 9:48 PM
To:	Blair, Lynn; Buchanan, John; Corman, Shelley; January, Steve; Kowalke, Terry; Medeles, Gerry; Nacey, Sheila; TMS OnCall
Cc:	Callans, Nancy; Hibbard, Scott; Blair, Jean; Benningfield, Robert
Subject:	NNG WKEND NOTES - JANUARY 12&13, 2002

Ladies & Gentlemen:

Attached is NNG's Weekend Notes for January 12th & 13th.
 << File: NNGWKednotes_2002.xls >>
Best regards,
Jean L. Blair
Evening Wkend Team (North Team)


thanks
One more Richter trade,. prebon shows:  11/16

Enron Buys Aquila
Dec  2000
sp15
97.00
Thanks

   Kate Symes                11/16/2000 04:13 PM

To: Stephanie Piwetz/HOU/ECT@ECT
cc:
Subject: Re: Deal 459243.01

Prebon is sending a new confirmation with Constellation as the counterparty.
Broker mistake.

Stephanie Piwetz   11/16/2000 01:00 PM

To: Carla Hoffman/PDX/ECT@ECT, Kate Symes/PDX/ECT@ECT
cc:

Subject: Deal 459243.01

Hello
I have a question, should the Counterparty on this trade be Peco Energy?
We have Constellation but bro does not know trade as Constellation

Tom Alonso's name is on bro confirm (Peco) but deal 459243.01 is under Mark
Fischer (COnstellation)

Thanks


Mike,

Can we help this guy?

Vince
 -----Original Message-----
From: 	Kelly, Max
Sent:	Friday, July 20, 2001 10:35 AM
To:	Kaminski, Vince J
Subject:	El Nino Forecast

FYI
---------------------- Forwarded by Max Kelly/ENRON_DEVELOPMENT on 07/20/2001 10:25 AM ---------------------------

Max Kelly
07/20/2001 10:16 AM
To:	Todd Kimberlain@Enron
cc:	Brent Hendry/SA/Enron@Enron

Subject:	El Nino Forecast

I am with Enron?s thermal power generation company in Panama. Ours is the largest thermal power plant (320 MW) in a system with over 540 MW in hydro power capacity. In order to better program our operations for the next two years, it would help us to determine the probability of another El Nino event in the next 18 to 24 months. In case of a high probability we could even bring down a barge-mounted plant to provide back up power to Panama?s and other Central American countries which are heavily dependent on hydro power. Panama and Central America suffers serious droughts during an El Nino event.

Whatever help you can provide will be greatly appreciated.

<Embedded Picture (Device Independent Bitmap)>


thanks for the invite, but I won't be able to make it.

 -----Original Message-----
From: 	"Scott Dobbins" <scott@amerexenergy.com>@ENRON [mailto:IMCEANOTES-+22Scott+20Dobbins+22+20+3Cscott+40amerexenergy+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Tuesday, June 12, 2001 10:13 AM
To:	kpresto@enron.com
Subject:	FW: Golf Tournament

-----Original Message-----
From: Lance Rathmell  [mailto:lancer@amerexenergy.com]
Sent: Wednesday, June 06, 2001 2:02  PM
To: power_brokers@amerexenergy.com
Subject: Fw: Golf  Tournament

----- Original Message -----
From: Angel  Martinez
To: Lancer@amerexenergy.com
Sent: Wednesday, June 06, 2001 10:06 AM
Subject: Golf Tournament

 - 01AMEREX POWER1.doc << File: 01AMEREX POWER1.doc >>


---------------------- Forwarded by Mike Grigsby/HOU/ECT on 06/29/2000 05:33
PM ---------------------------

	From:  Jay Reitmeyer                           06/29/2000 04:58 PM

To: Mike Grigsby/HOU/ECT@ECT
cc:
Subject: ECMWF

---------------------- Forwarded by Jay Reitmeyer/HOU/ECT on 06/29/2000 04:57
PM ---------------------------

Jose Marquez
06/29/2000 10:58 AM
To: Jay Reitmeyer/HOU/ECT@ECT
cc:
Subject: ECMWF

http://www.sca.uqam.ca/models/ecmwf_amer/cep00_9panel.gif

Jose


Ken - As Frank's note says below, all the directors are very grateful to you
 for all you have done for each of us.  Your leadership has been invaluable.
 Thank you.  My best, Paula

-----Original Message-----
From: Frank Savage [mailto:FSavage@savageholdings.com]
Sent: Friday, November 09, 2001 5:33 PM
To: Rieker, Paula
Subject:

Paula, Please extend my congratulations and good luck to Ken and
the entire Enron team on finalizing the Dynergy/Enron deal. Frank
Savage

---------- Original Message ----------------------------------
From: "Rieker, Paula" <Paula.Rieker@ENRON.com>
Date:  Fri, 9 Nov 2001 17:10:16 -0600

>I am sending this via fax as well, but thought the email might
expedite
>delivery to a few online directors.  THX
>
>DONE!  Attached is the merger press release, which is now
public.
>
> <<DynRelease.doc>>
>
>Dynegy has not yet scheduled an investor call.  I will forward
details
>as soon as they are available.
>
>
>
>
>
>
>
>
>
>
>
>
>
>******************************************************************
****
>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.
>******************************************************************
****
>
>

________________________________________________________________


Prebon West

Chris Mallory
I am missing the following deals per Prebon:

1) Enron sells to Mirant 25mw of NP-15 light for April at $175
2) Enron sells to Duke 25 mw of  SP-15 at $245 for  3/2-3/3

Amerex West
All deals checked out fine.

Bloomberg
All deals checked out fine.

Thanks!!


I will be out of the office until Thursday, May 17th with limited access to
email and voicemail. If your message needs immediate attention, please
contact Ken Files at 281-295-4801 or filesk@iconus.com .

Thank you,
Joanna Williams

"WorldSecure <iconus.com>" made the following
 annotations on 05/10/01 10:05:26
------------------------------------------------------------------------------
This e-mail transmission may contain confidential or legally privileged information that is intended only for the individual or entity named in the e-mail address. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or reliance upon the contents of this e-mail is strictly prohibited. If you have received this e-mail transmission in error, please reply to the sender, so that ICON Clinical Research can arrange for proper delivery, and then please delete the message.  Thank You.

==============================================================================


__________________

Michelle/Kalen:

Enron has purchased a table to the 2001 Houston Chronicle Best Dressed
Luncheon & Neiman Marcus Fashion Show benefiting the March of Dimes.  The
luncheon will be held on Wednesday, April 11 at the Westin Galleria.  The
reception begins at 11:30 a.m., and the actual luncheon starts promptly at
12:00 noon.  Cindy would like you be her guest at Enron's table.  Please let
me know at your earliest convenience if you will be able to attend.

Thanks.

Vanessa


Attached  is the August 2000 billing for park n ride.

Please note:
Reliant (PO 27060) carryover quantity of 1,514 MMBtu from previous month -
$1,408.02 (This qty was carried over from April. Reliant withdrew the gas on
AUgust 31st)
Sempra (PO 27255) had carryover quantity of 6,000 MMBtu (from June)
Withdrawals were nominated several days in August but the nominations were
nver scheduled.  Sempra's invoice amount is $5400.
Duke (PO# 27266) made a series of mistakes in scheduling their pnr activity.
An adjustment has been made to Duke's invoice amount.to reduce the total
invoice from $5,404.90 to $3,704.90.

If you have any questions, please call me at  x36486.


thanks.

From: Jeanie Slone/ENRON@enronXgate on 03/09/2001 01:03 PM
To: Scott Neal/HOU/ECT@ECT
cc:
Subject: RE: 2000 performance reviews

Robin Barbe
Brad McKay

Thanks

 -----Original Message-----
From:  Neal, Scott
Sent: Friday, March 09, 2001 12:52
To: Jeanie Slone/HOU/ECT@ENRON
Subject: 2000 performance reviews

fyi - can you tell me who we're missing?
---------------------- Forwarded by Scott Neal/HOU/ECT on 03/09/2001 12:47 PM
---------------------------

Scott Neal
03/09/2001 12:47 PM
To: Robin Barbe/HOU/ECT@ECT, Tammi DePaolis/Corp/Enron@ENRON, Brad
McKay/HOU/ECT@ECT, Andrea Ring/HOU/ECT@ECT, Maureen Smith/HOU/ECT@ECT, Judy
Townsend/HOU/ECT@ECT, Peter F Keavey/HOU/ECT@ECT
cc:
Subject: 2000 performance reviews

A few of you still need to return your signed 2000 performance reviews to
me.  Please return to me ASAP.

---------------------- Forwarded by Scott Neal/HOU/ECT on 03/09/2001 12:43 PM
---------------------------

Scott Neal
02/28/2001 08:39 AM
To: Robin Barbe/HOU/ECT@ECT, Tammi DePaolis/Corp/Enron@ENRON, Brad
McKay/HOU/ECT@ECT, Andrea Ring/HOU/ECT@ECT, Maureen Smith/HOU/ECT@ECT, Judy
Townsend/HOU/ECT@ECT, Peter F Keavey/HOU/ECT@ECT
cc:
Subject: 2000 performance reviews

Please return signed 2000 Perfrmance Review sheets to me today or tomorrow.

Thank you,

Scott


Please email John re:  status.  Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 12/11/2000 01:57 PM -----

	John Malowney
	12/07/2000 12:53 PM

		 To: Tracy Ngo/PDX/ECT@ECT
		 cc: Wendy Conwell/NA/Enron@ENRON, Edward Sacks/Corp/Enron@Enron, Dave
Fuller/PDX/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT
		 Subject: Re: Oregon Steel Mills (OSM)

OSM just called requesting we present them with a contract today, any chance
of making this happen ??

Tracy Ngo
12/07/2000 08:05 AM
To: Wendy Conwell/NA/Enron@ENRON
cc: Edward Sacks/Corp/Enron@Enron, John Malowney/HOU/ECT@ECT, Dave
Fuller/PDX/ECT@ECT
Subject: Oregon Steel Mills (OSM)

Wendy,

Please run the due diligence on Oregon Steel Mills.  We're looking at
presenting them both a financial and physical gas contract.  Once you've had
a chance to propose some credit terms, let's discuss.

Thanks,
Tracy

---------------------- Forwarded by Tracy Ngo/PDX/ECT on 12/07/2000 08:09 AM
---------------------------

John Malowney
12/04/2000 03:44 PM
To: Tracy Ngo/PDX/ECT@ECT, Shari Stack/HOU/ECT@ECT
cc:

Subject: Oregon Steel Mills (OSM)

We met with OSM and have another meeting scheduled for tomorrow to discuss
proposed structures hopefully to be followed by specific pricing.  We're
talking average monthly volumes of 7,300-7,500 MMBTU for approximately 6-8
months at a price around $10/MMBTU.  I'm sending you this as a "reminder", as
if and when we're able to agree upon pricing and a proposed structure we'll
need to "paper" it by weeks end.  At this time we could be going either
physically or financially.  Thanks,  John


God Bless You.

	Nancy Sellers <Nancy.Sellers@RobertMondavi.com>
	07/27/2001 04:49 PM

		 To: "Prentice @ Berkeley" <PSellers@haas.berkeley.edu>, Prentice Sellers
<PSellers@pacbell.net>
		 cc: "'Jeff Dasovich'" <Jeff_Dasovich@enron.com>
		 Subject: Gas

I just gassed up at the Friday pay plus get premium pump in your honor

Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante"


Thank you for booking your travel with Continental Airlines.
Below is a copy of your flight information. Please refer to your
complete online itinerary for the respective details on your hotel
and car reservations.

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

FLIGHT SUMMARY
------------------------------------------------------------------------------
--
Purchased
Itinerary Number: 1233872297
Round Trip
Booking ID: 25I9AA
1 adult USD 243.71
Taxes: USD 37.28

Total Cost: USD 280.99

Flight: from Houston, TX (IAH-Bush Intercontinental) to Syracuse, NY
(SYR-Hancock Intl.)
Depart: 28-Sep-00 at  4:00 PM
Arrive: 28-Sep-00 at 10:13 PM

Depart: Houston (IAH), 28-Sep-00 at  4:00 PM
Arrive: Detroit (DTW), 28-Sep-00 at  7:58 PM
Flight: Continental 6836, OPERATED BY NORTHWEST AIR -- NW1836
Aircraft:  Airbus A319
Meal Service: Dinner
Duration: 2hr 58mn
Distance: 1096 mi
Economy/Coach Class

Depart: Detroit (DTW), 28-Sep-00 at  8:55 PM
Arrive: Syracuse (SYR), 28-Sep-00 at 10:13 PM
Flight: Continental 6560, OPERATED BY NORTHWEST AIR -- NW1560
Aircraft:  Boeing DC9-50
Meal Service: n/a
Duration: 1hr 18mn
Distance: 363 mi
Economy/Coach Class

Flight: from Syracuse, NY (SYR-Hancock Intl.) to Houston, TX (IAH-Bush
Intercontinental)
Depart:  1-Oct-00 at  5:00 PM
Arrive:  1-Oct-00 at  9:25 PM

Depart: Syracuse (SYR),  1-Oct-00 at  5:00 PM
Arrive: Cleveland (CLE),  1-Oct-00 at  6:45 PM
Flight: Continental 3185, OPERATED BY CONTINENTAL EXPRESS
Aircraft:  ATR 72
Meal Service: n/a
Duration: 1hr 45mn
Distance: 317 mi
Economy/Coach Class

Depart: Cleveland (CLE),  1-Oct-00 at  7:35 PM
Arrive: Houston (IAH),  1-Oct-00 at  9:25 PM
Flight: Continental 1985
Aircraft:  Boeing 737-300
Meal Service: Snack
Duration: 2hr 50mn
Distance: 1099 mi
Economy/Coach Class

----------------------------------------------------------------------
If you have chosen the E-ticket option for your flight(s), a Travel
Itinerary and Receipt will be delivered within 3 - 5 days via U.S.
mail. If you have specified an alternate delivery location for your
E-ticket, we will send a Travel Itinerary and Receipt to the address
you specified, plus a Payment Receipt to the address that appears on
your credit card statement.

When you arrive at the airport on the day of your flight please
provide the ticket agent with your last name, flight number and photo
identification to receive your boarding pass(es).  For curbside check-in,
present your passenger receipt or a printout of this message and photo
ID.

E-Ticket customers can also use one of our automated eService Centers
or ESC. Our ESCs allow customers to check-in and receive a boarding
pass for all Continental U.S. domestic flights.  ESCs are conveniently
located near the ticket counter and gate areas in most of our U.S.
cities.  Baggage check is available at those ESCs located at the
ticket counter.

If E-Tickets are not available for your flight(s), or you have
elected to receive a paper ticket, we will send your ticket(s) and
receipt(s) to the address you specified during the booking process. If
your date of departure is:

-- within 3 days and E-Ticket is available for your flight(s), an
E-Ticket will be issued.  If E-Ticket is not available, you will
have been prompted online to call Continental Airlines On-Line Reservations
at 1 (888) 815-2665 to arrange
the delivery of your tickets.
-- between 3 and 7 business days from today, by  2nd day or overnight
mail.
-- more than 7 business days from today, by U.S. mail.

Photo identification will be required upon check-in, such as a Driver's
License, Military ID, Passport or an official identification card
issued by a government authority. For questions concerning this
requirement, please contact Continental Airlines or visit our web site at
http://www.continental.com.

A valid passport is required for international travel. Some
countries also have visa and/or health requirements. Please check with
the embassy of the country to which you are traveling, contact
Continental Airlines or visit our web site at http://www.continental.com.

If you wish to change hotel and car reservations, use
Continental Airlines On-Line Reservations at http://www.continental.com. To
change airline flights or for
en-route assistance, call 1 (888) 815-2665. Please have your itinerary
number available for the agent.

We wish you a pleasant trip and look forward to serving you
again soon.

Continental Airlines
http://www.continental.com/


Just met w/ Skilling and Whalley.

Var for gas has temp increase of $15MM until next friday (12/15/2000).
Jeff is calling for an executive comm mtg to ask for an additional $40 MM of
corp var until next wed (12/13/2000).

One issue is UK power will be over VAR everyday starting probably thurs or
fri of this week, unless we increase them as well. (They sweep retail deals
into book once a week on this day). This increase only needs to be $2-3-
million.

Fasten seat belts and apply oxygen masks.

Rick


Cris

Bit of an issue here.  I had thought we were marking purely the intrinsic value of the options due to their illiquid nature.  I really think we need to mark these down to real values unless we can prove out the value by selling a proportion of the warrants into the market.

We also clearly have a write down from the number on the balance sheet which is way too high.

Please could you evaluate the warrants and come up with a proposal of how we deal with them.

Thanks

Louise

 -----Original Message-----
From: 	Miller, Kevin
Sent:	Monday, October 15, 2001 4:09 PM
To:	Kitchen, Louise
Cc:	Rainer, Eva; Druzbik, Lisa; Mrha, Jean
Subject:	ATS Warrants

Louise,

I do not think it is possible to begin selling the ATS Warrants at this time.

Per the ATS Warrant Certificate, the ATS Common Shares issuable on exercise of the Warrants may not be sold, transferred or otherwise traded until March 20,2002.  The Warrants are also non-transferable except to an affiliate.

In addition, the ATS Warrants are valued daily using a Black-Scholes model.  The spreadsheet with the result of the evaluation is attached.  The current value of the Warrants is $762,600 USD using the evaluation model.  However, the current ATS stock price on the Canadian Venture Exchange is $0.97C with an Warrant exercise price of $0.85C for the first 2,000,000 share tranche. The second 1,000,000 share tranche has an exercise price of $1.10C.  Thus, the current value is considerably less than the Black-Scholes evaluation model is calculating.

If you have any questions please give me a call at extension 33541.

Kevin Miller


Start Date: 3/16/01; HourAhead hour: 5;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001031605.txt


Gonzalez, Esmeralda would like to recall the message, "".


I received this letter form Goldman Sachs this morning.  According to them
short positions are the only ones that require this letter.  Can we
use/modify this letter and submit it to Morgan Stanley and Bear stearns, or
do we need to get something from each of them?  Please let me know.

Thanks,

Terri
3-9899

---------------------- Forwarded by Terri Harlan/HOU/ECT on 09/27/2000 01:25
PM ---------------------------

"Sibeud, Eugenie B" <eugenie.sibeud@gs.com> on 09/27/2000 12:09:50 PM
To: "'Tharlan@enron.com'" <Tharlan@enron.com>
cc:
Subject:

Apologies for the delay.  My e-mail went totally dead last night, and has
just now come back.  (Apparently I have sent to many large document files).

Attached is the assignment agreement that we discussed.  Please feel free to
call me if you have any questions.  I can be reached at (212) 902-1930.

Kind regards,

Eugenie Sibeud

 <<Enron Assignment.doc>>

 - Enron Assignment.doc


Please respond to Bill Courtney
I have enclosed are noms for Sept.  Have a  good weekend.  Bill
 - September noms for Quest.xls


home email is jparks1@houston.rr.com


-----Original Message-----
From: navigator@nisource.com [mailto:navigator@nisource.com]
Sent: Wednesday, January 23, 2002 9:53 AM
To: navigator@nisource.com
Subject: CGT Retainage Reduction Effective Feruary 1, 2002

                       COLUMBIA GULF TRANSMISSION COMPANY
                        NOTICE TO ALL INTERESTED PARTIES
                                JANUARY 23, 2002

Notice ID: 3430
5 - NO RESPONSE REQUIRED

On January 15, 2002, Columbia Gulf made a filing to the FERC to reduce the
percentage of gas retained for Company Use and Unaccounted For Gas.  This
reduction if approved by the Commission, will be effective February 1, 2002.
Columbia Gulf will make its usual annual Transportation Retainage Adjustment
filing on March 1, 2002, with changes to be effective April 1, 2002.

The new retainage percentages are:

Mainline        2.470%
Onshore         0.422%
Offshore        0.302%
Offsystem-Onshore - no change


Chuck called back to tell us the maintenance for the 10th is now going to be
done on the 23rd of Jan.

So,  the 10th we are back to full capacity, and we will go to zero on Jan
23rd, HE8-16.

Cara

---------------------- Forwarded by Cara Semperger/PDX/ECT on 01/05/2001
08:51 AM ---------------------------

Cara Semperger
01/03/2001 08:55 AM
To: Lisa Gang/PDX/ECT@ECT, Tom Alonso/PDX/ECT@ECT, Mark Fischer/PDX/ECT@ECT,
Stacy Runswick/PDX/ECT@ECT, Portland Shift
cc:
Subject: Line Derate that will affect our WALC transmisison for 1/9 and 1/10

Due to Scheduled Maintenance, our WALC tranny from San Juan to Midway

January 9,  HE 10 and HE 11 go to zero

January 10,  HE 8 through HE 16  go to zero (all times are PST)

Chuck from WAPA-LC called this in.

This derate will need to be recorded in the available transmission
spreadsheet for Real time.

C


Daren---(Re: the email below from Kathy Benedict)  If I'm not mistaken, I
thought we didnt take end up taking over Cornhusker completely until
October?  I thought Tenaska was still doing it, at least accounting for it.
Therefore, this gas wasn't pathed during the month...and I believe we didnt
have all the tickets in at the time.  What do you recall?

Thanks,
Mark
x33396

---------------------- Forwarded by Mark McCoy/Corp/Enron on 12/06/2000 07:26
AM ---------------------------

Katherine Benedict@ECT
12/05/2000 04:44 PM
To: Daren J Farmer/HOU/ECT@ECT, Mark McCoy/Corp/Enron@Enron
cc: Bob Fisher/NA/Enron@Enron

Subject: Heads-Up - Tenaska IV Partner Ltd. - September 2000

Hi Guys,

Please do me and Bob Fisher in the Transport Settlements group a huge
favor......Please let us know when the TXU/Lonestar  transport deals for
Tenaska IV Texas Partners have been entered into Path Manager (for September
2000).

I am holding the transport invoice from TXU/Lonestar for September
2000....waiting to enter the "actuals" into our system for payment.

Thanks,

Kathy  :  )


As promised...
  If more coverage surfaces, I'll send it along.
 d.s.
---------------------- Forwarded by Dave Schafer/OTS/Enron on 06/27/2000
06:41 AM ---------------------------

Jason Hannagan
06/26/2000 04:55 PM
To: Stanley Horton/Corp/Enron@Enron, Dave Schafer/OTS/Enron@ENRON, Gina
Taylor/OTS/Enron@Enron, Scott Vonderheide/Corp/Enron@ENRON,
Dana.Gibbs@eott.com/Mary.Ellen.Coombe@eott.com
cc:

Subject: The EOTT articles in the Press

Below is the coverage on the Mike Burke June 23 release.  The Houston
Chronicle article for Sat. June 24 is below along  with a couple of AP online
sources.

Jason Hannagan
Paper: Houston Chronicle
Headline: CEO at pipeline operator leaveshis post abruptly
DOCID: 35830
Date: 06/24/00
Section: BUSINESS
Page: 2
Edition: 3 STAR
Byline: MICHAEL DAVIS
Credit: Staff
Length: 4
Keys: Resignations
Proc: edtcmc
Slug: eott
Michael Burke resigned abruptly Friday from the chief executive's post
at crude oil pipeline operator EOTT Energy Partners.

The Houston company said its board of directors had accepted the
resignation of Burke, "effective immediately." Burke, 56, is leaving the

company "to focus on emerging investment and business opportunities,"
the company said in a written statement.

The partnership has lost money the last three years in a row but it was
profitable in the first quarter of this year with a net income of $2.2
million.

Burke's resignation came just days after the pipeline partnership
revised its first-quarter net income upward by $100,000.

The revisions were made as a result of a review of the company's
computerized marketing and accounting system, the company said. In a
filing
with the Securities and Exchange Commission, the company said the
computer problems resulted in "unexplained variances in financial
results
reported by the system."

Stanley Horton, chairman of EOTT , will assume the duties of chief
executive officer. Dana Gibbs, currently executive vice president and
chief
commercial officer, will become president and chief operating officer of

EOTT . Horton and Gibbs will comprise the office of the chairman for
EOTT .

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(Next article from Reuters)

EOTT Energy CEO Burke resigns
Reuters Company News - June 23, 2000 16:37

Copyright 2000 Reuters Limited. All rights reserved. Republication or
redistribution of Reuters content is expressly prohibited without the prior
written consent of Reuters. Reuters shall not be liable for any errors or
delays in the content, or for any actions taken in reliance thereon.
NEW YORK, June 23 (Reuters) - EOTT Energy Partners LP said on Friday that
Michael Burke has resigned as chief executive officer, effective immediately.

The Houston-based independent energy company said that Stanley Horton,
chairman of EOTT, will assume the duties of chief executive and will remain
chairman and CEO for the Enron Gas Pipeline Group.

Dana Gibbs, currently executive vice president and chief commercial officer,
will become president and chief operating officer of EOTT, the company said.
Horton and Gibbs will comprise the Office of the Chairman for EOTT.

Shares of EOTT ended the day flat at 14-1/16 on the New York Stock Exchange.

------------------------------------------------------------------------------
--
(The last article from Hoover's online)

EOTT Energy Partners, L.P. Announces Management Changes
PR Newswire - June 23, 2000 17:23
Jump to first matched term

HOUSTON, June 23 /PRNewswire/ -- The EOTT Energy Partners, L.P. (NYSE: EOT)
(EOTT) Board of Directors announced today that it has accepted the
resignation of Michael D. Burke, effective immediately. Mr. Burke is leaving
the company to focus on emerging investment and business opportunities.

Stanley C. Horton, chairman of EOTT, will assume the duties of chief
executive officer. Mr. Horton will remain chairman and chief executive
officer for the Enron Gas Pipeline Group.

Dana R. Gibbs, currently executive vice president and chief commercial
officer, will become president and chief operating officer of EOTT. Horton
and Gibbs will comprise the Office of the Chairman for EOTT.

EOTT Energy Partners, L.P. is a major independent marketer of crude oil in
the United States and Canada. Together with its predecessors, the Partnership
has been serving the petroleum industry since 1946. Both EOTT Energy
Partners, L.P. and EOTT Energy Corp., the general partner, are headquartered
in Houston, Texas. The common units of EOTT Energy Partners, L.P. trade on
the NYSE under the symbol "EOT".

     Contact:
     Gina Taylor
     (713) 853-7681
SOURCE EOTT Energy Partners, L.P.

/CONTACT: Gina Taylor of EOTT Energy Partners, L.P., 713-853-7681/

/Company News On-Call: http://www.prnewswire.com/comp/118371.html or fax,


Wade, what are the contract numbers that the producer's gas gets allocated too?

 -----Original Message-----
From: 	"Proctor, Shemin V." <sproctor@akllp.com>@ENRON
Sent:	Thursday, March 07, 2002 1:50 PM
To:	Germany, Chris
Subject:	Your fax

Hi Chris,
Are the terminated contracts only for transportation service?

Shemin V. Proctor
Andrews & Kurth LLP
1701 Pennsylvania Ave., N.W., Suite 300
Washington, D.C. 20006
(202) 662-3052
(202) 662-2739 (fax)
sproctor@akllp.com
 <<Proctor, Shemin V..vcf>>
 - Proctor, Shemin V..vcf << File: Proctor, Shemin V..vcf >>


Jordan Mintz 3-7897
Bob Foster 818 302 9210
Kevin Beasley 3-7807


Dear Jeff,

Our tiger team very much enjoyed your presentation about Enron Global Markets
on Friday.  Given that we have latitude in our project scope, our team would
like to assist Enron in evaluating a new market opportunity.  You mentioned
several markets that Enron is considering in 2001, including transportation,
cement, coffee, cocoa, sugar, etc.  We believe that a project of this sort
will give us the opportunity to really learn how Enron creates value, what
its business model and core competencies are, and how they can be translated
to a new market.  Furthermore, we can get an in-depth understanding of an
industry.  We believe our project will complement any analysis that your
business group is currently undertaking.  Please propose the top three new
markets that you would like us to evaluate for Enron.

Upon receipt of your proposal, perhaps we could set up a conference call to
discuss your thoughts and to make a final selection.

Your expeditious response is appreciated.

Regards,

Josh Leventhal
215-546-2103


Maria,

The Clearing docs we got in from the Exchange showed Merrill Lynch in London
as Houston's clearer.  This is not to say this is fixed, but for some reason
the OMLX were under the impression that it would be Merrills.  By the way, we
can have as many clearers as we like (provided, of course, that they are
General Clearing Members at the OMLX).

If you could let me now quite swiftly on this issue I would be very grateful
as we finalised the legal points on Clearing docs a couple of weeks ago and I
have already couriered the final  versions for signature to Houston.

Kind regards

Mark

Maria Nartey
04/30/99 09:00 AM
To: Richard Sage/LON/ECT@ECT, Mark Elliott/LON/ECT@ECT
cc:
Subject: Re: Documentation from OM

FYI
---------------------- Forwarded by Maria Nartey/LON/ECT on 30/04/99 09:03
---------------------------

Maria Nartey
29/04/99 19:22
To: Jeff Harbert/HOU/ECT@ECT
cc: Barry Pearce/LON/ECT@ECT
Subject: Re: Documentation from OM

Jeff,

We only use two London clearing houses, Bank Paribas and Carr.  The back
office at Carr was not very good when I used to deal with them but I've been
told that they are much better now.  Paribas was definitely the better of the
two from a back office point of view.

Let me know if you need anything else.
Regards,
Maria.

	Enron Capital & Trade Resources Corp.

	From:  Jeff Harbert                           29/04/99 18:45

To: Barry Pearce/LON/ECT@ECT
cc: Maria Nartey/LON/ECT@ECT
Subject: Re: Documentation from OM

Hi Barry,

Regarding our upcoming Pulpex "market maker" role, we're running into a few
problems with the clearing function.  I mentioned to Bob that it may make
more sense to use one of the existing London office clearing houses.  Under
an arrangement like that I would see the following:

a.  London uses an existing "clearing house" for the Pulpex margining
activity.  A new account would be required to separate paper from your other
business.
b.  London admin. maintains the account from a support standpoint on behalf
of ECT Houston Pulp & Paper including 1) daily margining requirements, 2)
cash account reconcilation, and 3) other accounting requirements.
c.  Houston office would be responsible for the electronic trading, reporting
positions, reconcile trading activity, report Profit/(Loss), etc.

ECT Pulp & Paper would reimburse London office for expenses incurred in
connection with support requirements.

Maria,  Would you provide me with a list of the "clearing houses" you use
today.  I'll give this to Bob Crane to see if he has a preference or other
comments.

Call or write if you have a chance early next week so we can figure this
out.  I'll be out of the office tomorrow (Friday).

Thanks for your help.

Jeff

	Enron Capital & Trade Resources Corp. - Europe

	From:  Barry Pearce                           02/24/99 11:22 AM

To: Bob Crane/HOU/ECT@ECT, Jeff Harbert/HOU/ECT@ECT
cc:
Subject: Re: Documentation from OM

Thanks

London Team in Support of your activities

Barry Pearce - Administration & Accounting
Maria Nartey - Settlements/Margining
Mark Elliott - Legal
Brigitta Millard - Documentation