Ray --

I think that this is about the CalPX bankruptcy.  Any issues?  Can you please get with PGE to make sure we are on the same page?

Jim

-----Original Message-----
From: Kaufman, Paul
Sent: Thursday, August 30, 2001 1:40 PM
To: Dasovich, Jeff; Steffes, James D.; Shapiro, Richard
Subject: FW: RE:New Unofficial Committee Contacting Decision Makers

By the way, who is Al referring to when he sais Doug is working with "Enron Central" and who has he contacted re:  "Enron guidance."  Sheesh.

-----Original Message-----
From: TOMPKINS, ROBIN
Sent: Wednesday, August 29, 2001 9:12 AM
To: Kaufman, Paul
Subject: Fwd: RE:New Unofficial Committee Contacting Decision Makers

see additional note from Doug Nichols.

-----Original Message-----
Date:  08/29/2001  09:10 am  (Wednesday)
From:  DOUGLAS NICHOLS
To:  TOMPKINS, ROBIN
Subject:  Fwd: RE:New Unofficial Committee Contacting Decision Makers

This is the latest status on Howard's effort - PGE is included in the "in favor" group in Howard's message - but both Al and I have since let him know he should not include us as being "in favor" unless and until we've coordinated this with Enron - I'm relying on you to do that.  Time is very short - Howard needs to be moving on this now if he has any shot at all of influencing the outcome.  While I agree the message ought to be delivered, I'm not optimistic there is time for the legislature to do anything else at this point.  If nothing else, it would be good let the decision makers know that their plan may not have the hoped for result, so they can't say no one told them.  dn

-----Original Message-----
Date:  08/28/2001  09:59 pm  (Tuesday)
From:  AL ALEXANDERSON
To:  "hweg@pgwlaw.com".IXGate.WIZ
CC:  DOUGLAS NICHOLS
Subject:  RE:New Unofficial Committee Contacting Decision Makers

Doug and I have been debating wether there might be a broader Enron plan to support the legislation even with the 1 billion shortage to sellers.  We're still trying to get Enron guidance on this.  Possibly we'd rather have an expensive solution instead of no solution.  I'm traveling with my  cell phone all of tomorrow and Doug is working on Enron Central.  Please stand by in terms of adding our name to the agressive list. Sorry for the mixed signals.  al

>>> "Howard J. Weg" <hweg@pgwlaw.com> 08/28/01 09:35PM >>>
I have not heard back from all members of the Unofficial Committee regarding
my email dated August 27, 2001 with respect to the proposal to contact the
Governor and Legislators regarding the pending legislation on SCE.

Some have suggested that the message needs to be stronger and others have
suggested that the message is too strong.  Our Ex Officio members BPA and
WAPA want it to be clear that they are not involved in any way with
addressing the state government on this or other issues.  As you know, I
want very much to reach as broad of a consensus on this action as is
possible, and to protect the interests of all members.

Virtually all members agree that a bankruptcy case for or litigation against
SCE would probably not be a good thing and we do not want to advocate for
bankruptcy or litigation.  After all, the Unofficial Committee was organized
to provide a different approach generally.  The purpose of contacting the
Governor and the Legislature is to let them know that the legislation they
are now considering, which leaves SCE about $1 billion short on the proposed
financing to pay creditors, may cause some other sellers to take precipitous
action in filing an involuntary petitition or initiating litigation or
arbitration that could delay or prevent the financing at even the lower $2.9
billion level, which will adversly affect SCE and all creditors generally.
We should point out that not all sellers are in agreement on what action
will be taken. The message is not intended to threaten anything and it is
not necessarily designed to stop legislation altogether, only legislation
that might actually make the situation worse for all sellers and SCE.

The tone of the presentation, if we make one, will be low key, non
threatening, and in the spirit of helping the legislature and the Governor
design a package that will avoid the bankruptcy, litigation and other
alternatives that others might be forced to consider if the bill is passed,
leaving the energy sellers out in the cold.

If there remain some members of the Committee that are not willing to be
associated with the message outlined above, then I propose that we give such
members the alternative of remaining members of the Unofficial Committee and
allowing us, if asked, to identify any such members that prefer not to be a
part of the message although they want to support an approach that avoids
litigation and bankruptcy for SCE.  I understand that the LADWP and Coral
Power would like this approach adopted.

As I explained in my prior email, it has been suggested that the proposed
bill that leaves SCE short by a billion dollars will likely pass after Labor
Day and before the Sept 14 adjournment.  That is why timing is important.
Those of you that have not responed, please respond.  Those of you that were
concerned that the message was unclear, please review this email and
consider or reconsider your positions, as the case may be.

As of right now, there are only 11 votes: 9 in favor and 2 against.  The
polls are still open so please let me know your position.

You should be aware that the City of Glendale notified me that it determined
that actual or potential conflicts of interest with the Unofficial Committee
required it to resign from the Unofficial Committee.


Because the names of the 2 pipeline tracking spreadsheets were so similar and somewhat confusing, I changed the name of one of them.

The spreadsheet that lists the pipelines and the numerical status of the pipeline is now named "Pipeline Status Summary" - (formerly Pipeline Contact List) - it is still located in the transportation directory.

The file that contains the detailed contract information by pipeline is still named "Pipeline Contract List"

If you have any questions, please let me know.

Maria


Will be 15-20 late- don't wait to start.
--------------------------
Rick S.


Dear Colleagues,

We know you have many questions about your new benefits plan, payroll issues and other changes that will occur over the next few weeks. Human Resources and Communications are preparing a thorough Q&A, which we will send to you tomorrow and will regularly update as more information is available.

Meanwhile, please read the announcement below from Security about how you can obtain a new UBS Warburg access card that will allow you to enter our new office space after Friday.

I am confident that you share my enthusiasm about our new opportunity.  We look forward to working along side each of you in the coming days.

David Oxley
Head, Human Resources
____________________________________________________________________

Access Cards

There will be a two-day transition for the new UBS Warburg access cards. Beginning Monday, February 11, access to the 5th and 6th floors of Enron Center South will require these new cards. UBS Warburg access cards can be picked up from 7 a.m. to 7 p.m. at the reception area on the 5th floor of Enron Center South on Thursday, February 7th ; Friday, February 8th ; and Monday, February 11. Enron Security will produce new access cards with existing photographs, then simultaneously issue the new and collect the old cards. Employees without UBS Warburg cards will be allowed into the Enron Center South building on Monday but will have to collect their new cards as soon as possible to gain access to the 5th and 6th floors.

Employees who fail to collect their new cards by 7 p.m. Monday will be required to contact Enron Security's general information number at 713-853-5360 to arrange to pick them up.

There will be security staff available at the pick up point on ECS 5 to help with any problems you might have.

It is suggested employees wear their access cards at all times while on the premise.

Accessible Areas - The new cards will allow UBS-W employees to enter:
5th & 6th floors and Plaza area of Enron Center South ,
The Sky Ring
Body Shop, Enron Center North Plaza and therefore access the Credit Union and Cafeteria from either building.

Restricted Areas - Employees must submit to Enron Security a Restricted Access Request form (available by calling 713 8535360 ) and signed by Bob McAuliffe (713-853-7468) to enter:
Enron Center South, 8th and 9th floors
Enron Center North, 22nd and 34th floor
Ardmore Data Center.

Employees staying with the Enron estate while visa and other issues are completed - Employees in this group who are on assignment arrangements to UBS-W will be issued a regular access card - available in the same way as other new UBS-W employees.

Estate employees who are working with UBS-W on transition issues  - If they will be based in UBS-W office space they should talk to their UBS-W counterpart for approval and then UBSW HR for the issue of a UBS-W contractor card (in addition to their regular Enron badge).


Good Afternoon,

Optimum has changed thier name to Natsource-Tullet.  All trades with Optimum
will be needed to be input as Natsource - Tullett.

All deals done with Natsource need to be input as Natsource LLC

Thank you.


Chuck Thompson is with PNM.

ds

 -----Original Message-----
From: 	Graves, Jerry
Sent:	Monday, February 25, 2002 4:04 PM
To:	Schoolcraft, Darrell; Matthews, Ron
Subject:	 Houston Outage  Meeting

Hey guys, I was not able to get the group rate. Hopefully you can find a good rate on your own. All three of these hotels are within walking distance to the office. (One to two blocks) Note: I did change the dinner time to 7:00 pm to give everyone extra time. And written directions to the course and to Pappadeaux are below as well.

Downtown Hotels
Hyatt  713-654-1234
Doubletree  713 -759-0202
Crown Plaza  713-739-8800

Itenaray
March 6
Golf outting - 1:00 Tee Time
Memorial Park Golf - Fee is about $32  713- 862-4033 (10 min. from downtown)  (Directions From downtown)- Take Memorial west to Memorial park turn right on east Memorial loop drive, the club house will be on the right. (From I-10 west) exit Wescott turn left over I-10, turn right at the first entrance into the park.

Dinner At Pappadeaux - At 7:00 pm Pappadeaux on 2410 Richmond 713-527-9137.  (Directions From downtown) - Take Allen Parkway west to Shepard, turn left on Shepard, keep going until you get to Richmond, make a right on Richmond, a few blocks down it will be on the right side of the street. (From the golf course) - Take Memroial back east towards downtown until you get to Shepard, turn right until you get to Richmond, make a right on Richmond, a few blocks down it will be on the right side of the street.

March 7
Outage meeting - 8:00 AM 12:00 (Normally) - It will be in the Gas Control Center 42C1
(I can meet everyone in the down stairs lobby about 7:30) My ext. is 58923.
There will be coffee and a breakfast snack.

These are the people I have down for the meeting.   If there is anyone that I missed please let me know.
Charlie Mathis / EL Paso        Golf & Dinner
Corina Veloz / EL Paso           Dinner
David Campbell / EL Paso     Golf & Dinner
Greg Kardos / Burlington         Dinner
Pat Bent / Burlington                Dinner
                         Mike Juckes / Williams           Dinner
                        Chuck Thompson / Williams   Golf & Dinner
                         Francis Roemer / Williams    Golf & Dinner
                        Danny Stahl / Williams            Golf & Dinner
Clark Mower / Williams           Golf & Dinner
Darrell schoolcraft / TW          Golf & Dinner
Ron Matthews / TW                 Golf & Dinner
Jerry Graves (Myself) / TW     Golf & Dinner

           Thank you
           Jerry Graves   Sr. Specialist Gas Control
           Transwestern / NNG 713-345-8923


**********************************************************************
CERA Conference Call: Sent Tue, December 12, 2000
**********************************************************************

Title: Conference Call and Web Presentation: Volatility in Northeast Energy
Markets...
Author: CERA
E-Mail Category: Conference Call
Product Line: North American Gas , Refined Products ,

URLs:
Refined Products Members:
http://www.cera.com/client/rp/cc/121200_19/rp_cc_121200_19_ab.html

North American Gas Members:
http://www.cera.com/client/nag/cc/121200_19/nag_cc_121200_19_ab.html
*********************************************************

A Cambridge Energy Research Associates Conference Call and Web Presentation
with North American Natural Gas and Refined Products Groups

TOPIC
Volatility in the Northeast Energy Markets: Natural Gas and Distillate Fuels

* National perspective: The gas price shock.
* Price spikes in the Northeast energy markets so far this winter: more to
come?
* Natural gas storage levels: how low can they go?
* Distillate fuel oil: a source of relief for tight Northeast gas markets?

FORMAT
At the time listed below, our speakers will address this topic for
approximately 30 minutes, with accompanying graphics presented on the
Internet, followed by an open question and answer period.

SPEAKERS
Robert Fleck, CERA Associate Director, North American Gas
Martin Meyers, CERA Director, Refined Products
Jennifer Snyder, CERA Associate Director, North American Gas
William Veno, CERA Director, Refined Products

TIME
3:00 P.M. Eastern, Monday, December 18, 2000

ELIGIBILITY
Clients eligible to participate in this conference call are those who
subscribe to the CERA North American Natural Gas and Refined Products
Retainer Advisory Services.

AUDIO & INTERNET
For the AUDIO portion of the call, please call in on one of the following
numbers approximately 10-15 minutes before the call:

Within the United States: 1-800-946-0705
Outside the United States: (719) 457-2637
Confirmation Code: 491053
Title of the call: CERA Gas/Refined Products

For the INTERNET portion of the call (audio is by telephone), log on to the
internet approximately 15-30 minutes before the presentation to ensure
technological compatibility.

1. Point your browser to http://vcast.premconf.com. (Do not include WWW in
the URL)
2. At the VisionCast Home Page, click on "Attend a Private Conference."
3. Follow all directions given regarding additional technology required (if
any).
4. You will be prompted for an Event Name, your name, and your company name.
Event Name: vc491053
5. Fill in all fields and click "Continue."

System Requirements and Suggestions:
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* A Java-enabled browser, such as Microsoft Internet Explorer 3.02 or higher;
Netscape Navigator 3.02 or higher; or Sun Hot JAVA(tm)
* Close all desktop applications and disable your screen saver

A recording of this call (audio only) will be available until January 18,
2001. To access this recording, please call 1-888-203-1112 (within the U.S.)
or (719) 457-0820 (outside the U.S.). Please use confirmation number 491053
to access the call.

Technical Assistance:
U.S. callers: If you are experiencing difficulties during the call, you may
signal for technical assistance by pressing *0 (star, zero) on your telephone
keypad after you have connected to the audio portion of the conference.

International callers: Please re-dial and ask the operator for assistance
before giving the confirmation code.

For more information, please contact Donna Masulla via e-mail at
dmasulla@cera.com or via telephone at (617) 441-6896.

**end**

Follow URL for HTML version of this message only.

*********************************************************
Come Shoot the Rapids with us at CERAWeek2001, "Shooting the Rapids:
Strategies and Risks for the Energy Future" in Houston, February 12-16,
2001!  For more information and to register, please visit
http://www.cera.com/ceraweek/
*********************************************************

**********************************************************************
This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.

Terms of Use: http://www.cera.com/tos.html
Questions/Comments: webmaster@cera.com
Copyright 2000. Cambridge Energy Research Associates


?
Panalytix,?Inc.?Releases APeX Version 4.0

3-Click Calibration, Pricing and Hedging -  Calibrate, price, and hedge any
exotic (e.g., Bermudan Cancelable Swap) using  any model (Multi-Factor HJM,
BK, Hull-White) with 3 easy clicks.
Bloomberg Alliance - Access Live feeds  provided via Open Bloomberg.? New
mechanism accesses any Excel-compatible  OLE/DDE source for live feeds
(Bloomberg, Reuters/TibCo, Bridge).
New Performance Benchmarks -?4.5  seconds to calibrate and price a Bermudan
10nc2 using 2-Factor 1000-path HJM  model on a 500MHz/128MB Pentium.

APeX Version 4.1featuring  Multi-Currency Multi-Factor HJM is in Beta
release.
?
For more information and the?new Downloadable  Demo of APeX 4.0, please visit
our website at http://www.panalytix.com/news.html.?  For sales information,
or to arrange for a presentation of  APeX, please contact Barbara Brandfass,
212 974-1022, b@panalytix.com.
?


Attached is a summary report of the first quarter EWS tactical (revenue
driven) and strategic (educational) visits to Enron supported by experience
ENRON.

At experienceENRON, our goal is to support the EWS deal development teams by
creating powerful Enron experiences that result in greater favorability and
familiarity of Enron while differentiating us from the competition.

Our role is to:
Reduce time and labor costs associated with planning and execution of
customer visits
Coordinate BU subject matter experts (SME,s) to tell the Enron story, i.e.
EOL, trading, etc.
Customize agendas aligned with Enron and customer objectives
Shorten sales cycles

We are here to support your team in reaching your goals.  Please call with
questions or changes.

Thank you.
Carrie
Manager, Enron Corp Marketing Services
713-853-3522


Diane,

The Chicago region is just me.  If you need my salary, let me know.  I travel
to Chicago about once a month ($1,750/Trip).  I am a CPA so I like to take
about 30 hours of classes per year.  I sincerely apologize about my
tardiness.  Thanks so much for your help.

DG    3-9573


The report named: DPR - Concentration <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=48&report_name=DPR+-+Concentration&category_cd=2&category_name=ENRON%20CONSOLIDATED&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/20/2001>, published as of 11/20/2001 is now available for viewing on the website.

Publisher's Notes:

PRELIM


I don't know if you got any of these while I was out.

DG
---------------------- Forwarded by Darron C Giron/HOU/ECT on 03/19/2001
08:36 AM ---------------------------
From: Russell Diamond/ENRON@enronXgate on 03/12/2001 09:03 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Debbie R
Brackett/HOU/ECT@ECT, William S Bradford/ENRON@enronXgate, Lesli
Campbell/ENRON@enronXgate, Celeste Cisneros/NA/Enron@Enron, Sharon
Crawford/CAL/ECT@ECT, Richard Deming/NA/Enron@Enron, Russell
Diamond/ENRON@enronXgate, Cindy Feldman/CAL/ECT@ECT, Darron C
Giron/HOU/ECT@ECT, Veronica Gonzalez/ENRON@enronXgate, Jeffrey C
Gossett/HOU/ECT@ECT, Walter Guidroz/ENRON@enronXgate, Larry Joe
Hunter/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Kevin
Meredith/Corp/Enron@ENRON, Tom Moran/ENRON@enronXgate, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron, Veronica Espinoza/ENRON@enronXgate
cc:
Subject: Credit Report 3/12/01

Counterparty     TAGG#
Action
CMS Energy Corporation   qW3331.1 Rebook to CMS Marketing, Services and
Trading
Consolidated Edison Company of New York qW2007.1 Pending Jay Williams
Dynegy Energy Inc.    qW2360.1 Rebook to Dynegy Marketing & Trade
Engage Energy Canada LP   qW3304.1 Rebook from ENA to ECC (Under the ISDA)
 "     qW3303.1   "
FAMM Fuel and Marine Marketing   qW3046.3 Pending Brant Reves
Hunt Petroleum Corp    qW2337.1 Pending Russell Diamond
Jay Paper Sales, Inc.    qW3406.1 Pending Arpana Rajaram
Louis Dreyfus Natural Gas Holdings  qW3036.1 Rebook to Louis Dreyfus Natural
Gas Corp
New Counterparty    qW1880.1 Pending Russell Diamond
Phibro (Asia) Pte Ltd.    qW3046.2 Rebook to Phibro Inc.
Seminole Transportation and Gathering  qW1864.6 Pending Jay Williams
Tubos de Acero de Mexico SA   qW0941.1 Pending Paul Radous


FYI...I'll keep you informed.
  dave
---------------------- Forwarded by Dave Schafer/ET&S/Enron on 03/03/2000
11:15 AM ---------------------------

Shanna Funkhouser
03/03/2000 11:06 AM
To: Dave Schafer/ET&S/Enron@ENRON
cc:

Subject: Confidential - Job Description

Dave,

I had a short conversation with Scott this morning and explained the job, why
we have vacancies, etc.  He is going to evaluate the job description and see
if there would be any ties in this job to his future career goals.  In other
words, he doesn't see himself taking a long-term departure from Investor
Relations, but possibly there are some skills he would gain in this job that
would make him even more valuable in a future IR role.  For example, when he
was with El Paso, IR and PR were combined.

He said that he would follow up with me this afternoon or Monday and let me
know if he has interest in discussing further.

Shanna
---------------------- Forwarded by Shanna Funkhouser/HR/Corp/Enron on
03/03/2000 11:10 AM ---------------------------

Shanna Funkhouser
03/03/2000 11:03 AM
To: Scott Vonderheide/Corp/Enron@ENRON
cc:

Subject: Confidential - Job Description

Scott,

I'll talk to you this afternoon or Monday.

Thanks,
Shanna


Get Your Acts Together!!!!

C4C Talent Show

Friday, April 27th
8:00 p.m. - 10:30 p.m.
International House

We need your talent (or lack thereof)!!!

Simply hit "reply" to this email
and I will put an "Act Registration Form" in your mailbox

All ??TALENT?? welcome ... students, staff, faculty alike

Additional forms are also available in the MBA Lounge on the C4C Bulletin
Board
Please return to Susan Ram's box by Friday, April 20th


Stephanie:
In case these confirms come back while I am out, they need to be sent to the
following people:

Jim Giordano - JGiordano@catequil.com
212 899-4210 (phone)
212-899-4205 (fax)

Susan Small (Sherman and Sterling)
212-848-4757 (phone)
212-848-7179 (fax)

Caroline Abramo, Paul Radous, Sara and Brent should be copied.  THANKS.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


We should have included the ACA, GRI, and Great Plains in our sales price to
Midcoast.  You should still use the $.0792 in your calculation.  Just a note,
we could have shipped this gas to a zone 4 market, resulting in a much higher
transport cost, OR we could have sold the gas at the wellhead, giving us a $0
transport cost.  Most of the time you will use the IT feeder cost ($.0792 in
this case) regardless of what we do with the gas.

By the way, Transco's rates changed just a bit effective 2/1/2001.  The IT
feeder for Zone 3 goes from $.0792 to $.0769 effective 2/1/2001, fuel remains
unchanged at .45%.

Tricia Spence
02/21/2001 10:07 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Hey Buddy - Transco question for you

First, let me start by saying I miss seeing your happy face every day!! Now,
that being said, I have a question!!!

Juniper Energy is one of the producers we are marketing consultants for.  I
have the pleasure of preparing their invoices for them every months on the
EI57 meter that is nominated on Transco, Zn3WH (ticket 547342).

The agreed upon purchase price from Enron is Transco Sta 65 less transport
and fuel.  In the past months, we have nominated this gas on one of our IT
contracts and the transport fee reflects the max IT rate of .0792 plus .45%
fuel.  That is what I subtract as a fee from the Gas Daily price to reflect
what Enron owes Juniper for purchasing the gas...

In January, from the 13th - 16th, we nominated 2009/day from EI57 and
transported it on IT contract .2774 for delivery to Midcoast Marketing, Inc.
(ticket 568318) @ Z3-Ethel Midla meter 6083.
This path incurred a higher fee than the other two paths that were nominated
either to our pool or to Mamou.

The Ethel Midla delivery fees included:
ACA .0022
EP3 .0013
GP .0097 (great plains surcharge ??)
GRI .0070
VC .0448
ZN3 .0331
total .0981

The pool and Mamou delivery fees only included:
EP3 .0013
VC .0448
ZN3 .0331
total .0792

My question is....are any of the Ethel Midla fees passed on to the delivery
counterparty, Midcoast Marketing, Inc. ?
Or, is Juniper responsible for paying for the extra fees?

Thanks for your help

Trish


I will out of the office Monday and Tuesday.

If you need me.  Please call Heather at ext 33278.

My pager number is 800-963-5783
Cell Phone is 713-562-8925

I will be at my Mom's house.  Phone 304-296-5200.

Don't hesitate to call if you need something.

Thanks

bob


Never mind the last message.  I just realized we added the clause at the end
of Appendix "1."  Sorry for the confusion!

-----Original Message-----
From: Pfister, Christian W.
Sent: Friday, December 15, 2000 3:50 PM
To: 'Dan.J.Hyvl@enron.com'
Subject: FW: FW: Enfolio Contract with CPS

Mr. Hyvl,

I added Section 8.9 in your CPS file below incorporating "Utilization of
Small Business Concerns," a clause we are required as a municipality to
incorporate in all of our contracts.  I added it with the Word tracking
feature "in red" so you would not have to type it in yourself.  Let me know
if it causes your company any qualms.

As far as your question regarding purchase orders, all of our purchases from
Enron will reference the same purchase order so that you may use the same
number on each invoice.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Thursday, November 02, 2000 2:38 PM
To: CWPfister@cps-satx.com
Cc: "'Dan.J.Hyv@enron.com"@postmaster.enron.com
Subject: Re: FW: Enfolio Contract with CPS

Changed as requested.

(See attached file: CITYPublicServiceSanAntonio.doc)

                    "Pfister,

                    Christian W."         To:     "'Dan.J.Hyvl@enron.com'"

                    <CWPfister@cps        <Dan.J.Hyvl@enron.com>

                    -satx.com>            cc:

                                          Subject:     FW: Enfolio Contract
with CPS
                    11/02/2000

                    02:10 PM

Could you change paragraph iii at the end of Representations and Warranties
to read:

"(iii) its obligations to make payments hereunder are unsubordinated
obligations and such payments are operating and maintenance costs which
enjoy first priority of payment under the ordinances of the City of San
Antonio which govern payments by Customer."

There are no indentures to which CPS is a party.  Thanks ...

-----Original Message-----
From: Jon Wood [mailto:jwood@mattbran.com]
Sent: Thursday, November 02, 2000 11:15 AM
To: 'Pfister, Christian W.'; Jon Wood
Cc: Mc Whirter, Daniel D.
Subject: RE: Enfolio Contract with CPS

Change the clause after "first priority payment" in (iii) to "under the
ordinances of the City of San Antonio which govern payments by Customer."
There are no indentures to which CPS is a party.  Jon

-----Original Message-----
From: Pfister, Christian W. [mailto:CWPfister@cps-satx.com]
Sent: Thursday, November 02, 2000 8:29 AM
To: 'jwood@mattbran.com'
Cc: Mc Whirter, Daniel D.
Subject: FW: Enfolio Contract with CPS

Mr. Wood,

As requested, Enfolio shortened and simplified the section on
Representations and Warranties.  The new language is highlighted on page 2
of the Appendix and states the following:

"Further and with respect to Customer only, Customer represents and
warrants
to Company continuing throughout the term of this Agreement as follows: (i)
all acts necessary to the valid execution and performance of this Agreement
have been duly adopted, (ii) with respect to the contractual obligations
hereunder and performance thereof, it is not entitled to claim immunity on
the grounds of sovereignty or similar grounds with respect to itself or its
revenues, (iii) its obligations to make payments hereunder are
unsubordinated obligations and such payments are operating and maintenance
costs which enjoy first priority of payment at all times under any and all
indentures to which it is a party."

Do you feel that this language is acceptable?  Thank you for your advice.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Wednesday, November 01, 2000 5:17 PM
To: CWPfister@cps-satx.com
Cc: Mc Whirter, Daniel D.; ."'James.I.Ducote""@enron.com'"
Subject: RE: Enfolio Contract with CPS

Please review the revised representations and warranties language. If
acceptable, please print 2 copies, sign and forward to Janet Wallis at
Enron for execution by Enron and return of one fully executed copy.
(See attached file: CITYPublicServiceSanAntonio.doc)

                    "Pfister,

                    Christian W."         To:     "'Dan.J.Hyvl@enron.com'"

                    <CWPfister@cps        <Dan.J.Hyvl@enron.com>,

                    -satx.com>            "'James.I.Ducote@enron.com'"

                                          <James.I.Ducote@enron.com>

                    10/30/2000            cc:     "Mc Whirter, Daniel D."

                    12:18 PM              <DDMcWhirter@cps-satx.com>

                                          Subject:     RE: Enfolio Contract
with CPS

If you could redraft the "representations and warranties" provision to be
simpler and clearer, I think that we could agree to it.  The other items
look fine.

-----Original Message-----
From: Jon Wood [mailto:jwood@mattbran.com]
Sent: Saturday, October 28, 2000 10:45 AM
To: 'Pfister, Christian W.'
Cc: 'ksyates@cps-satx.com'; Howard Bye
Subject: RE: Enfolio Contract with CPS

My reading is that Enron seeks a continuing representation that (i) all
transactions have the appropriate approval, waiving any defense of lack of
authority, (ii) there is no sovereign immunity (something is left out of
thelanguage) defense to any transaction, (iii) payment for the gas will be
first in the flow of funds, and (iv) the obligations are not subject to
debt
restrictions or other public funds restrictions of the Texas Constitution,
statutes or CPS constituency documents.  I think we can legally make these
representations and warranties, but the language needs some work.  You
should ask them to redraft this provision so it is simpler and clearer.
Jon

-----Original Message-----
From: Pfister, Christian W. [mailto:CWPfister@cps-satx.com]
Sent: Monday, October 23, 2000 2:16 PM
To: 'jwood@mattbran.com'
Subject: FW: Enfolio Contract with CPS

Mr. Wood,

This is a spot gas contract with Enron that you reviewed on August 8th for
Mary Pelayo and Danny McWhirter.  Enron has added a paragraph under
"Representations and Warranties" that I would like you to review.  I am not
sure exactly what it means.  Thank you.

-----Original Message-----
From: Yates, Katherine S.
Sent: Monday, October 23, 2000 1:52 PM
To: Pfister, Christian W.
Subject: RE: Enfolio Contract with CPS

Sounds like legal mumbo jumbo. I would advise getting John't input in case
he is more familiar with the reasoning behind this jargon.

Katherine S. Yates
CPS Attorney
353-2069

-----Original Message-----
From: Pfister, Christian W.
Sent: Monday, October 23, 2000 1:40 PM
To: Yates, Katherine S.
Subject: FW: Enfolio Contract with CPS

Kathy,

This spot gas contract was reviewed by Jon Wood a few months ago.  The
following was added under "Representations and Warranties" by Enron.  I
have
highlighted the text in the attachment so you can see where it was
incorporated (page 2 of Appendix 1).

"Further and with respect to Customer only, Customer represents and
warrants
to Company continuing throughout the term of this Agreement as follows:
(i)
all acts necessary to the valid execution and performance of this Agreement
have been duly adopted, (ii) with respect to the contractual obligations
hereunder and performance thereof, it is not entitled to itself or its
revenues or assets from (a) suit, (b) jurisdiction of court, (c) relief by
way of injunction, order for specific performance or recovery of property,
(d) attachment of assets or (e) execution or enforcement of any judgment,
(iii) its obligations to make payments hereunder are unsubordinated
obligations and such payments are operating and maintenance costs which
enjoy first priority of payment at all times under any and all indentures
to
which it is a party, its constitutional and governing documents and
applicable law, and (iv) its obligations to make payments hereunder do not
constitute any kind of indebtedness of Customer or create any kind of lien
on, or security interest in, any property or revenues of Customer which, in
either case , is proscribed by any provision of its constitutional and
governing documents, any order to judgment of any court or other agency of
government applicable to it or its assets, or any contractual restriction
binding on or affecting it or any of its assets."

Do you think this is acceptable, or do you think I should show this added
paragraph to Jon Wood?

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Thursday, October 19, 2000 2:51 PM
To: Pfister, Christian W.; Mc Whirter, Daniel D.
Cc: James.I.Ducote@enron.com; Janet.H.Wallis@enron.com
Subject: Re: Enfolio Contract with CPS

(See attached file: CITYPublicServiceSanAntonio.doc)

Attached please find a revised Enfolio Contract with CPS.  The changes
      incorporated in the attached contract are:
1)  "City Public Service (San Antonio)" has been changed to "The City of
      San Antonio, acting through City Public Service Board".
2)  The effective date has been changed to "October 1, 2000.
3)  The changes requested in items 1 and 2 of the addendum have been
      incorporated.
4) The Utilization of Small Business Concerns language has been added as
      the last item in Appendix "1", and
5)  An additional representation has been added at the end of the
      Representations and Warranties in Appendix "1" relating to the
      necessary authorizations with respect to the execution, delivery and
      performance by Customer of  this Agreement.

If these changes are acceptable please advise and we will forward two
      original copies for execution.


Homer,

I just left you a voicemail regarding the natsource study.  We have been able
to pull in the basis and price curves, but we are having trouble getting the
gas daily curves for June to come in correctly.  I.T. is looking into this
issue and will have us an answer soon.  Email me and let me know where I can
save a file out to you with the curves we do have.  The file is too large to
Email.

Thank you,

Errol McLaughlin, X5-8274


---------------------- Forwarded by Tana Jones/HOU/ECT on 03/07/2000 06:14 PM
---------------------------

Molly Harris
03/07/2000 05:01 PM
To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT
cc: Sheri Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, Brian Hunter-Lindsay/LON/ECT@ECT, Coenraad
Basson/LON/ECT@ECT, Bhautik Patel/LON/ECT@ECT, David Hardy/LON/ECT@ECT, David
Weekes/LON/ECT@ECT, Carrie Southard/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT,
Linda S Bryan/HOU/ECT@ECT
Subject: EOL Credit Responses 3/7

Please find attached Credit's EOL responses for 3/7/00.

Regards
Molly


I have not followed this.  Should I ?

	Dan Lyons
	07/24/2000 09:16 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: SWPC Warranty Claim

FYI
----- Forwarded by Dan Lyons/HOU/ECT on 07/24/2000 09:16 AM -----

	"Tiehen, Thomas M." <ttiehen@TENASKA.com>
	07/20/2000 01:03 PM

		 To: "'Mike.Mazowita@enron.com'" <Mike.Mazowita@enron.com>,
"'carl.tricoli@enron.com'" <carl.tricoli@enron.com>, "'Dan.Lyons@enron.com'"
<Dan.Lyons@enron.com>
		 cc: "Howell, H. Dwight" <dhowell@TENASKA.com>, "Quinn, Ronald N."
<rquinn@TENASKA.com>
		 Subject: SWPC Warranty Claim

We have changed the letter slightly:
  <<TIVTPSWPCWarranty.doc2.doc>>

 - TIVTPSWPCWarranty.doc2.doc


I'd be happy to help and learn.  Hve your assistant call Maureen McVicker
713.853.1808.

	Nancy_Siska@cargill.com
	01/11/2001 12:01 AM

		 To: Steven.J.Kean@enron.com
		 cc: Nancy_Siska@cargill.com
		 Subject: Benchmarking Request re: Leadership Development

Dear Mr. Kean,
I am the Corporate VP of HR at Cargill, Incorporated, a privately held
company based in Minneapolis.  Cargill is an international marketer,
processor and distributor of agricultural, food, financial and
industrial products and services,
with 85,000 employees in 60 countries. The company provides distinctive
customer solutions in supply chain management, food applications and
health and nutrition.  Recently, our CEO, Warren Staley, met with Jeff
Skilling who was kind enough to provide your name as a contact to
arrange an information exchange on leadership development between Enron
and Cargill.

Cargill currently has a team comprised of business leaders and human
resources professionals working to design a leadership
development process for our company.  Based on our research and Enron's
reputation for having innovative and successful programs for developing
leaders, we are very interested in talking with you to benchmark
Enron's leadership development process.  We would like to arrange a one
hour phone conversation with you or your designate within the next two
weeks, if possible.  During this call, we would be pleased to share
with you information about Cargill's current leadership development
programs.  We are also talking with several other companies and will
prepare of report summarizing our learnings which we would be happy to
share with you at the conclusion of our project.  Of course,
information will be combined and the confidentiality of participating
companies will be protected.

I hope you will be able to accomodate our request.  Please contact me
at (952) 742-5172 or N_Siska@Cargill.com with your response.  I will
then have my administrative assistant work your staff to arrange a
mutually convenient time.  Prior to the call, I will forward a specific
list of questions for your consideration.

Thank you for your time, and I look forward to talking with you.

Best regards,
Nancy Siska


On a per turbine basis he would be expecting some to have big drops. However
for the entire site, the amount we were talking about would be about .5% (for
1 month). Though I don't know if he expected individual turbines to have more
impact on the site average than they do . For 10 turbines having one drop 5%
only lowers the site by .5%.

Kurt Anderson
07/10/2002 03:51 PM
To: Jeff Duff/EWC/Enron@ENRON, Mark V Walker/EWC/Enron@ENRON, Mark
Fisher/EWC/Enron@Enron
cc:

Subject: Mill Run report through May with Virtual Mode corrections.

If we are only talking about a .6% drop in avg. availability, we had better
be ready to defend our numbers. Not just defend but convince Zilkha why we
are right with our calcs. Mark F. unless I am mistaken, Gary V. is expecting
a bigger drop??

--------------------- Forwarded by Kurt Anderson/EWC/Enron on 07/10/2002
04:03 PM ---------------------------

Mark V Walker
07/10/2002 02:04 PM
To: Kurt Anderson/EWC/Enron@ENRON
cc: Hollis Kimbrough/EWC/Enron@ENRON

Subject: Mill Run report through May with Virtual Mode corrections.

Summary:
The Jan - May 2002 availabilities are revised to exclude virtual mode / pause
events.   The results showed that every turbine had between one and two hours
each month where the WTG was transitioning between states as per design.
Therefore, the resulting total hours of pausing and virtual mode for each
turbine was decreased by one and a half hours.   In addition the pausing due
to noise curtailment at turbine 7 between the hours of 7 PM and 5 AM local
time was excluded.   No other changes were made to the SCADA data.  The net
result is that the Jan availability dropped by 1.5%, Feb dropped by 0.4%,
Mar dropped by 0.3%,  Apr dropped by 0.1%.   Dec 2001 data was not corrected
due becasue the data recovery of the minana files in that month was very
poor.  The Somerset report  is  well underway and will be in a similar form.


Please see invitation to September 27 Environment Breakfast

 <<9-26 breakfast memo.doc>>

Nadine Henson
Greater Houston Partnership
Chamber of Commerce Division
Program Assistant
wk 713-844-3655
fax 713-844-0255
email  nhenson@houston.org
web site   www.houston.org

 - 9-26 breakfast memo.doc


---------------------- Forwarded by Kay Mann/Corp/Enron on 12/15/2000 09:23
AM ---------------------------
From: Anne C Koehler@ECT on 12/07/2000 10:02 AM
To: Julia Murray/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT, Lisa
Mellencamp/HOU/ECT@ECT, Teresa G Bushman/HOU/ECT@ECT, Sheila
Tweed/HOU/ECT@ECT, Michelle Cash/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Angela
Davis/NA/Enron@Enron, Kay Mann/Corp/Enron@Enron, Gail
Brownfeld/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandi M Braband/HOU/ECT@ECT
cc:

Subject: WE DESERVE IT!!!!

Please stop by my house after work on Friday, December 15 for a glass of wine
and a moment of calm during the hectic holiday season.  Come anytime between
6:00 and 7:30.   Hope to see you all!!!

My address is 3029 Reba Drive.  Just take Allen Parkway to Kirby and then
turn right on Reba (between San Felipe and Westheimer).  My house will be on
your left.

Anne C. Koehler
Sr. Counsel, ENA
EB 3839
713-853-3448


Here's a very good special report by PIRA on the Southern California emission
credit market, a cost component that caught many by surprise and still hasn't
been treated fairly in the popular press:

;

;


Bush names businessmen to Pentagon civilian posts
04/24  16:08

WASHINGTON, April 24 (Reuters) - President George W. Bush said on Tuesday he planned to nominate three top businessmen to the civilian positions of Army, Navy and Air Force secretary at the Pentagon.

Bush chose James Roche, corporate vice president and president of the Electronic Sensors and Systems Sector of the Northrop Grumman Corp. (NOC), to be secretary of the Air Force.

Before joining the private sector, Roche served as Democratic staff director for the Senate Armed Services Committee and as principal deputy director of policy planning at the State Department.

Thomas White, Bush's choice for Army secretary, is currently vice chairman of Enron Energy Services (ENE).
He served in the Army for 23 years, retiring as a brigadier general and was executive assistant to the current Secretary of State Colin Powell
 when Powell was chairman of the Joint Chiefs of Staff.  Bush also said he intended to nominate Gordon England to be secretary of the Navy.
England is currently executive vice president of General Dynamics (GD), where he has worked for 17 years.

All three nominees must be confirmed by the Senate. ((Washington newsroom 202 898-8300, fax 202 898 8383, email Washington.bureau.newsroom@reuters.com))


Mark, I was talking to Jay on Friday and he was telling about Kerr McGee shutting down their operations. Is there any play here for you guys.?

BT


Per your request.


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 09/05/2000
01:29 PM ---------------------------

	From:  Phillip K Allen                           08/29/2000 02:20 PM

To: mark@intelligencepress.com
cc:
Subject:

Mark,

 Here is a spreadsheet detailing our September Socal trades. (I did not
distinguish between buys vs. sells.)

Phillip


Stan, are you aware of any changes that need to be made in the composition of
EOTT's Board of Directors, Audit Committee, or Compensation Committee?

Walt Z.
----- Forwarded by Walt Zimmerman/Houston/Eott on 05/05/2000 11:03 AM -----

	Michael Burke
	05/05/2000 09:14 AM

		 To: Walt Zimmerman/Houston/Eott@Eott
		 cc: Stanley Horton/Corp/Enron@Enron, Steve Duffy/Houston/Eott@Eott
		 Subject: Re: Annual Election of EOTT Directors and Committees

Walt, I am not aware of any Board changes being considered but you should
call Stan and Ted to see if they have any suggestions.
I would like to see a draft today.

	Walt Zimmerman
	05/04/00 06:49 PM

		 To: Michael Burke/Houston/Eott@Eott
		 cc: Stanley Horton/Corp/Enron@Enron, Steve Duffy/Houston/Eott@Eott
		 Subject: Annual Election of EOTT Directors and Committees

Prior to the distribution of materials for the May 15 EOTT Board of Directors
meeting, the sole shareholder (Enron Liquids Holding Corp.) needs to reelect
EOTT's Board of Directors.  This will be accomplished by a written consent
that will be executed on behalf of Enron Liquids Holding Corp.

Also, at the May 15 meeting, EOTT's directors will elect the members of the
Audit Committee and the Compensation Committee for the next year.

Are you aware of any changes to the EOTT Board, the Audit Committee, or the
Compensation Committee?  In some past years, Ted Gaylord has polled the
outside directors to ensure that they intended to continue their service on
EOTT's Board and committees.  If you would like, I will ask Ted to poll the
outside directors again this year as to their intentions for continued
service.

Also, we need to start preparing an agenda for the May 15 meeting.  If you
would like, I will forward to you tomorrow a draft agenda that is based on
last year's "annual meeting" agenda.

Please let me know your thoughts on these matters.   Thanks.


Chicago is $0.125 an Dawn is $.245.


You are invited to a meeting next Thursday (3/22) afternoon at 2:00 to
discuss energy commodity and renewable energy credits for the Enron Building,
Center and Stadium.  There are a few efforts that are going on simultaneously
and I thought it would be a good idea for all of us to meet and get on the
same page.  As many of you might know, Enron Wind (Michael Payne) and ENA
(Mike Curry) have a great proposal to retire renewable energy credits from
our Enron Wind facility to match the consumption of the building and stadium
(details attached below).  If this proposal goes forward, Enron would be the
1st Fortune 500 company to "go green" in its headquarters building.  Couple
this w/ our energy star award, and we have GREAT environmental messaging.
We'd like to highlight this announcement on Earth Day (April 22nd).

The facilities folks are interested in switching from Reliant to EES for
actual commodity.  It makes sense to work strategically together on win-win
proposal that will not only make sense economically, but that we can use in
our messaging.  The focus of the meeting is to discuss the various proposals,
and steps for moving forward.

The meeting will be in EB50MO3 from 2:00-3:00. Please let me know if you or
someone from your group can attend.

Stacey Bolton
Environmental Strategies
Enron Corp
3-9916


Some of you may have seen the article in the WSJ already, but for those of us
in Omaha (who don't typically get the Texas Edition) it was news to us.  Not
only is the article relevant because it apparently caused the stock to dip by
$10, but the article elaborates on concerns that apply to a form of
accounting that some of our commercial people would like to have apply to our
business.  I'm not sure the accounting rules would permit mark to market
treatment for transport or storage contracts, but it may be appropriate for
financial or commodity deals.  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 09/25/2000
09:57 AM ---------------------------
ET & S Business Intelligence Department
From: Lorna Brennan on 09/22/2000 09:56 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc:
Subject: The Press Behind the Stock Dip?

TEXAS JOURNAL

Energy Traders Cite Gains, But Some Math Is Missing
By Jonathan Weil
Staff Reporter of The Wall Street Journal

09/20/2000
The Wall Street Journal
Texas Journal
T1
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Volatile prices for natural gas and electricity are creating high-voltage
earnings growth at some companies with large energy-trading units. But
investors counting on these gains could be in for a jolt down the road.

Shares of these companies have been on a tear lately. And some of the biggest
players are in Houston, the center of the energy-trading industry. Dynegy
Inc.'s stock is up more than fourfold so far this year at $53.438, and now
trades for 41 times what analysts project the company's 2000 earnings will
be, according to First Call/Thomson Financial. Shares of Enron Corp., the
largest trader of gas and electricity in North America, have nearly doubled
this year to $84.875, or 60 times earnings. Meanwhile, El Paso Energy Corp.'s
stock has jumped 61% this year to $62.375, or 24 times earnings.

Traders at these and other companies are capitalizing on the wild price
swings and supply fluctuations that have accompanied deregulation in some
regional markets. Natural-gas prices have more than doubled in the past year,
while supplies have tightened. And the rapid price fluctuations for
electricity have prompted many large businesses to seek price protection
through hedging or fixed-price contracts, generating large premiums for
traders.

But what many investors may not realize is that much of these companies'
recent profits constitute unrealized, noncash gains. Frequently, these
profits depend on assumptions and estimates about future market factors, the
details of which the companies do not provide, and which time may prove
wrong. And because of minimal disclosure standards in these kinds of cases,
it's difficult for investors to assess whose assumptions might be too
aggressive, or what market changes might invalidate the assumptions -- and
force earnings revisions.

"There could be a quality-of-earnings issue," says Tom Linsmeier, an
associate professor of accounting at Michigan State University, who
co-authored the U.S. Securities and Exchange Commission's rules on
market-risk disclosures for financial instruments. "There certainly might be
great volatility that could cause what now looks like a winning, locked-in
gain to not arise sometime in the future."

The companies reject any suggestion that there may be quality problems with
their earnings.

But at the heart of the situation is an accounting technique that allows
companies to include as current earnings those profits they expect to realize
from energy-related contracts and other derivative instruments in future
periods, sometimes stretching over more than 20 years.

So-called mark-to-market accounting is mandated by accounting-rule makers
when companies have outstanding energy-related contracts on their books at
the end of a quarter, such as agreements to sell electricity or buy natural
gas over a period of time at certain prices. Under those rules, companies
estimate the fair market values of those contracts on their balance sheets
each quarter as assets or liabilities. Changes in the value of a contract
from quarter to quarter then are either added to or subtracted from net
earnings.

If, for instance, the market price for natural gas rises above the price
specified in a company's contract to buy gas, generally the company will
record an unrealized gain. That gain is recognized as income and recorded as
an asset on the company's balance sheet. At the end of each quarter, the
contract is revalued. The value of the previously recorded asset is
increased, and any increase in unrealized gain is recorded as additional
income. Conversely, if the market value for gas falls, and the value of the
contract has declined, any change in the contract's value is recorded on the
company's balance sheet, and a loss is recorded on its income statement. e

Yet in their financial reports, the companies only vaguely describe the
methods they use to come up with fair-value estimates on the contracts.
Increasingly, quoted market prices offering independent guidance are becoming
readily available for several years into the future. However, with some
long-term derivative instruments, particularly electricity contracts, future
market prices don't extend far enough to cover the full life of those
contracts. And in those cases, companies are allowed to base valuations on
their own undisclosed estimates, assumptions and pricing models.

"Ultimately they're telling you what they think the answer is, but they're
not telling you how they got to that answer," says Stephen Campbell, an
analyst at Business Valuation Services in Dallas. "That is essentially saying
`trust me.'"

Accounting-rule makers at the Financial Accounting Standards Board have
debated the subject of how to value energy-related contracts extensively in
recent months. "Two companies in similar circumstances might apply different
methods to estimate the fair value of their energy-related contracts and may
arrive at widely different values," an FASB task force studying the issue
wrote in a June report. "Those differences lead to the question of whether
some of the methods in practice yield estimated amounts that are not
representative of fair value."

Despite this concern, FASB isn't inclined to offer any explicit guidance for
how such contracts should be valued. "There are just too many models and too
many different types of instruments for us to have a one-size-fits-all type
of model," explains Timothy Lucas, FASB's director of research in Norwalk,
Conn.

One way to determine the size of a company's unrealized gains is to compare
the change in the values of net assets from risk-management activities from
quarter to quarter. Some companies also disclose how much they're adjusting
their cash-flow statements to reflect unrealized gains that have been booked
as earnings. That's how one can determine the size of the unrealized gains at
Dynegy and Enron, for example, the two companies confirm.

A reporter's examination of Dynegy's financial filings shows the company's
earnings are highly dependent on unrealized gains from risk-management
activities. For its most recent quarter, ended June 30, Dynegy reported
earnings of 38 cents a diluted share -- 71% of which came from unrealized
gains, the company confirms. (The company's per-share earnings would have
been 20 cents higher if not for a one-time stock dividend.) For all of 1999,
Dynegy recorded $115 million in unrealized gains, accounting for 51% of its
earnings.

Enron confirms it booked $747 million in unrealized gains from
risk-management activities during the second quarter, more than the company's
total $609 million in earnings before interest and taxes. Absent unrealized
gains, the company would have reported a quarterly loss. For the quarter, the
company reported earnings of 34 cents a diluted share, up 26% from a year
earlier.

But not all companies disclose enough information for investors to calculate
how large their unrealized gains are. El Paso says that's the case with its
own quarterly reports, which disclose short-term assets and liabilities from
risk-management activities -- but not long-term risk-management assets and
liabilities.

For the second quarter, El Paso reported that its energy marketing and
trading unit earned $152 million before interest and taxes, 24 times what it
earned a year earlier. In an interview, El Paso's chief financial officer,
Brent Austin, says unrealized gains represented about a third of that total.
He says most of the cash from those gains will materialize within a year.

In its financial reports, Dynegy highlights the uncertainties with some
contract valuations. It explains that with some long-term contracts for which
market-price quotes aren't available, "the lack of long-term pricing
liquidity requires the use of mathematical models to value these commitments
. . . [using] historical market data to forecast future elongated pricing
curves." Dynegy cautions that actual cash returns may "vary, either
positively or negatively, from the results estimated."

But like Enron, El Paso and others, Dynegy provides scant details about its
mathematical models -- such as the assumptions they use for market volatility
and long-term price forecasts for natural gas and electricity. Nor is the
company required to disclose more.

"The disclosure mentions risks," says John Cassidy, an analyst who tracks
Dynegy for Moody's Investors Service in New York. "But I don't know that the
disclosure offers enough detail for you to be able to quantify how much risk
there is."

El Paso's filings warn that "because the valuation of these financial
instruments can involve estimates, changes in the assumptions underlying
these estimates can occur, changing our valuation and potentially resulting
in financial losses." Enron cautions that the values it assigns to various
transactions are based on "management's best estimate."

The companies are required to disclose what they think their maximum
potential single-day risk-management losses might be, figures that also are
based on various undisclosed market assumptions. But energy traders cite
competitive reasons for not disclosing more.

"You don't necessarily want to tip off everyone to what you're doing," says
John Harrison, chief financial officer for El Paso's merchant-energy unit.

Echoing remarks by executives at other energy traders, Enron's executive vice
president and chief accounting officer, Richard Causey, says Enron runs a
relatively balanced portfolio and that the estimates factored into his
company's valuations are conservative. In large part, he says, those
estimates are based on quoted market prices where available. Where they're
not available, Mr. Causey says Enron bases its estimates in part on long-term
pricing trends, as well as the company's own trading experience, which dates
to 1990.

Further, Mr. Causey says, Enron's unrealized gains don't depend heavily on
gains from long-term contracts that extend beyond the periods for which
market quotes are available, reducing the potential for significant earnings
revisions. The average length of Enron's risk-management contracts is just
two years, he says. To be sure, though, some of Enron's electricity contracts
extend for 25 years.

"We're getting the cash in quicker than you might think," Mr. Causey says.
"They don't stay unrealized very long."

El Paso says its contracts have an average life of six years, with some
running as long as 20 years. Dynegy says the longest risk-management
contracts for which it uses mark-to-market accounting are 10 years, though it
doesn't disclose an average length. Dynegy's chief financial officer, Robert
Doty, says 96% of the company's gas contracts close out by 2002, while 75% of
its power contracts expire by 2003. "The cash will come in," he says.

As for why the company doesn't disclose the extent of any bias, bullish or
bearish, it has in the market, Dynegy executives say that information, like
the estimates behind its mathematical models, is proprietary. Such
disclosures may be outdated anyway by the time they could be included in
public financial filings, says Michael Mott, a Dynegy vice president. Mr.
Mott further explains that Dynegy could be realizing more cash earnings now
if it wanted to. But "we don't see that would be in the best interests of
shareholders," Mr. Mott says, because the company figures it can earn more
later by leaving much of its gains unrealized for now.

Mr. Linsmeier of Michigan State compares the current situation for energy
traders with the accounting controversies that engulfed subprime automobile
and residential lenders during the late 1990s, though he emphasizes it's too
far early to tell whether the consequences will be similar. Using so-called
gain-on-sale accounting (a form of mark-to-market accounting), those lenders
booked earnings from loans as soon as they were made, rather than having to
wait for them to be paid off, as banks typically do.

But as interest rates fell in 1998, many customers paid off their loans
earlier than expected, slashing lenders' profit margins. Compounding matters,
the market for mortgage-backed securities dried up in the wake of financial
chaos in Russia and other foreign markets, leaving lenders to bear the higher
risks of many new loans.

Many investors complained they were blindsided, in part because these lenders
generally hadn't disclosed their assumptions about prepayment rates and other
variables. After the crash, subprime lenders routinely began disclosing the
key assumptions used to value their mortgage portfolios.

At New York University, accounting professor Baruch Lev says investors would
be better served if energy traders' financial filings explained the effects
of hypothetical commodity-price movements on the values of their
risk-management assets, and disclosed the basic assumptions about future
commodity-price movements ingrained in their mathematical models. Says Mr.
Lev, "I would like to see much more disclosure, particularly given that this
is now becoming a significant component of their earnings."

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


Just wanted to say congratulations on the close.  I hope you had a good trip
back to Cincy.  Again, I think that both companies are getting a very good
deal, with you guys getting excellent assets at a very good price.  Hope to
talk to you soon and I look forward to seeing the press release.
Regards,
Ben


Okay - I've changed 578812 to Sierra Pacific Power Co. I asked Bill about
this and he said he didn't realize the counterparty was in with Sierra
Pacific Industries and not Sierra Pacific Power. The Real Time guys pay as
little attention as possible to counterparty names, unfortunately.

Thanks for catching this,
Kate

Rhonda L Denton
04/12/2001 10:41 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: New CTPY Request

When we do not have a transmission contract with an entity, we usually do a
buy/resale to cover the transmission over their system.

   Kate Symes                04/12/2001 11:17 AM

To: Rhonda L Denton/HOU/ECT@ECT
cc:
Subject: Re: New CTPY Request

P.S. I'll ask Bill Williams about Geir's transmission deal. Can I ask,
though, why it looks like it should be a buy-resale?

Kate

Rhonda L Denton
04/12/2001 09:03 AM
To: Kate Symes/PDX/ECT@ECT
cc: Christian Yoder/HOU/ECT@ECT, Chris H Foster/HOU/ECT@ECT, Melissa Ann
Murphy/HOU/ECT@ECT

Subject: Re: New CTPY Request

When the contract is fully executed, just forward it to me in interoffice
mail.  I do have questions about the name that the contract has been written
under and the name that the deals are under in Enpower.  Sierra Pacific
Industries, Inc. is in global counterparty and the deals have been changed in
Enpower to this CP.  The problem is that the contract and the confirms will
not agree as to who is the correct CP.  We have always confirmed deals under
the name of the entity with whom we have a contract.  Please let me know if
the name will be changed on the contract to reflect the correct CP or will we
amend the contract to add "Inc." to the end of the name and set up this dba
in global counterparty.  I need to know before we can confirm these deals.

In additiona, Geir has entered a transmission deal for this CP.  578812.
Should this be a buy/resale?

   Kate Symes                04/12/2001 10:35 AM

To: Rhonda L Denton/HOU/ECT@ECT
cc:
Subject: Re: New CTPY Request

I sent a copy of the agreement to Melissa Murphy via fax. I'll need to get
ahold of Chris Foster, who is in your Houston office at the moment, to locate
the original. He won't be back in the Portland office until Monday morning.
When would you like the original by? Just let me know - we'll get it to you
as soon as we can.

Thanks,
Kate
503-464-7486

Rhonda L Denton
04/12/2001 07:22 AM
To: Kate Symes/PDX/ECT@ECT
cc: Chris H Foster/HOU/ECT@ECT

Subject: Re: New CTPY Request

Can I get the original of this contract?

   Kate Symes                04/09/2001 03:09 PM

To: Rhonda L Denton/HOU/ECT@ECT, Melissa Ann Murphy/HOU/ECT@ECT
cc: Samuel Schott/HOU/ECT@ECT
Subject: New CTPY Request

I just heard from Samuel (thanks for your message!) that I need to send
Rhonda new counterparty information in order to get their names added to the
system. I called Rhonda, but it turns out she's out of the office for the
first part of this week, and her voice mail referred me to Melissa. (That's a
short explanation of why I'm sending this info. to all of you.)

Anyway, following is the information connected with the new counterparty name
Chris Foster has requested:

Name: Sierra Pacific Holding Company, dba Sierra Pacific Industries
Address: PO Box 496028
    Redding, CA 96049
Or: 19759 Riverside Ave.
      Anderson, CA 96007
Phone: (530) 378-8179
Fax: (530) 378-8139
Contact: Director of Energy Resources - Robert Ellery

I also have a copy of the Master Power Purchase and Sale Agreement if you'd
like me to fax that over. Just let me know how I can help. We've already
entered Chris's deal into the system with "New Counterparty," so the sooner
we can change that the better.

Thanks,
Kate


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


CALENDAR ENTRY:	APPOINTMENT

Description:
	John Buchanan - Oncall

Date:		9/1/2001
Time:		7:00 AM - 7:55 AM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


---------------------- Forwarded by Lisa Connolly/HOU/EES on 04/30/2001 09:50 AM ---------------------------

Joannie Williamson@ENRON
04/30/2001 09:35 AM

To:	Lisa Connolly/HOU/EES@EES
cc:
Subject:	Fire Chief Selection Committee Conference Call - Monday, April 30 @ Noon

Lisa, information to distribute for the call today.

HFD Conference Call
Monday, April 30 - 12:00 - 12:30p
Dial-in:  612-332-0820
Confirmation:  585060

Thanks,
Joannie


---------------------- Forwarded by Susan J Mara/SFO/EES on 10/02/2000 11:56
PM ---------------------------

US Publishing <season@restructuringtoday.com> on 10/02/2000 08:35:25 AM
Please respond to season@restructuringtoday.com
To: "RT Reader" <season@restructuringtoday.com>
cc:
Subject: Restructuring Today, Monday October 2, 2000

(see attached file:  rt001002.pdf)

Thank you,

Season Hawksley
US Publishing
1-800-486-8201
www.restructuringtoday.com
season@restructuringtoday.com

 - rt001002.pdf


I will be on vacation from 12/21 to 12/27 and will back in on Tuesday,
12/28.  I have discussed the contents of the credit worksheets for the
physical and financial contracts with Stuart Zisman and Sara Shackleton,
respectively.  Should there be any further credit issues/concerns, please
direct them to Pat Cini (x5-7130) or Bill Bradford (x3-3831) in credit.  I
have informed Pat Cini of the status of both contracts and the relating
credit provisions for each.

Regards,
Tracy
---------------------- Forwarded by Tracy Ngo/HOU/ECT on 12/20/99 05:28 PM
---------------------------

	Enron North America Corp.

	From:  Marie Heard                           12/20/99 05:26 PM

To: Rodney Malcolm/HOU/ECT@ECT, Stuart Zisman/HOU/ECT@ECT, Elizabeth
Sager/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT, Tracy Ngo/HOU/ECT@ECT

Subject: Project Moosehead - ISDA Master Agreement

Tracy Ngo requested that we delete the cross default threshold applying to
each of EPMI and Merrill Lynch Capital Services, Inc. and have this threhold
amount apply only to the credit support providers of EPMI and Merrill Lynch
Capital Services, Inc.  We have made this change to our draft ISDA Master
Agreement.  Are there any other comments or revisions to the draft?


I would like to request information and application materials for your
International Studies program in Bologna. I am interested in applying for the
academic year of 2002-03.

Thank you,
Kate Symes
2505 NE 32nd Place
Portland,OR 97212
(503) 288-6546


Joanie Veselack is leaving.  She is going to PG&E in Bethesda


YOu bet...I'm out.

-----Original Message-----
From: Cuilla, Martin
Sent: Monday, October 29, 2001 9:37 AM
To: Diamond, Daniel
Subject: ENE

bet you sure are glad you liquidated your ene - trades 13.80


All,

Please mark you calendars, you  have been selected to participate in the  ENA Trading Track recruiting event Monday, October 29th , 3 pm - 7 pm.     If you are unable to interview on this date please advise.

A selection of you will telephone screen 18 external candidates, and decide whether or not they should proceed to the final round on the above date.    A separate e:mail will be sent in relation to this.

Any questions let me know.

Regards,

Karen
x54667


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/13/2000
12:06 PM ---------------------------

Sevil Yaman@ENRON
11/10/2000 01:10 PM
To: George Hopley/HOU/ECT@ect
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: final version of the presentation

george,

here is the presentation. I wasn't able to add a table showing the
distribution of bids by fuel type for April 2000 since the database is not
updated. Also, in the map I didn't make those minor changes. Because when I
try to erase those names, the map looks ugly. when i get back from california
let's get together and discuss the feedbacks from traders.

sevil,


Great news, everyone. For the third consecutive year, Fortune magazine has
named Enron one of the nation's top employers on its annual "100 Best
Companies to Work for in America" list.  This year Enron ranks No. 22, up
from No. 24 last year.

We continue to move up on Fortune's list, which shows that you, our
employees, believe Enron is a cool place to work.  Thanks to all of you who
took time from your busy schedules to share your Enron experiences with
Fortune in its confidential survey.

Your contributions this past year have raised Enron's profile as we've
enjoyed unprecedented achievements.  So give yourself a pat on the back for a
job well done and for contributing to one of corporate America's great
success stories.

We look forward to continuing the momentum in 2001 and wish you and your
family a pleasant holiday season and a Happy New Year.


I have you as paid.  There are two sheets on the file, when I sorted by score
I did not highlight the paid column.  Only the people's name on the email owe
money.  I will add Rob Fuller to the list.
PL


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

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

Distillate     http://www.carrfut.com/research/Energy1/hoil43.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded43.pdf

Extra Chatrs

July Gas Crack     http://www.carrfut.com/research/Energy1/JulyGasCrack.pdf
Jun Heat/Gas Spread
http://www.carrfut.com/research/Energy1/HUM-HOM2.pdf

Natural Gas      http://www.carrfut.com/research/Energy1/NG.pdf


Thanks.  Let me know where I can send the $6.

Susan Pereira

KKW816@aol.com on 05/02/2001 02:30:10 PM
To: Susan.W.Pereira@enron.com
cc:
Subject: Re: Tigers

Sorry that Kali didn't enjoy the season -- maybe one sport at one time is
enough. I will l send her the trophy since it has already been ordered. I
don't know about the U-10 coaches since Mary is playing HYSA next season.
Hope it works out better for you all! Kathy Harrison


I'm fine with the 1-2% growth rate, but think we need to make an assumption about the major contracts that expire 10/31/03.

 -----Original Message-----
From: 	Geaccone, Tracy
Sent:	Tuesday, February 12, 2002 12:58 PM
To:	Howard, Kevin A.; Hayslett, Rod; Chandler, Bob; Saunders, James; Corman, Shelley
Cc:	Desai, Jayshree
Subject:	RE: NNG 10 year valuation model

 -----Original Message-----
From: 	Howard, Kevin A.
Sent:	Tuesday, February 12, 2002 10:35 AM
To:	Hayslett, Rod; Geaccone, Tracy; Chandler, Bob; Saunders, James; Corman, Shelley
Cc:	Desai, Jayshree
Subject:	NNG 10 year valuation model

I met with Jayshree Desai this morning to discuss the recommended changes to the NNG valuation model.  She will make these and circulate the model later today.  I few items worth mentioning -

1) Capex assumptions still seem too high for 2002-2004.  However, the 2002 number is some $30 million below the "Dynegy transition" capex amount shown in the 2002 Capex schedule.  Can we just assume non-discretionary only with the Base Gas repurchase in 2002/2003? Any discretionary would be commercially-driven. [Geaccone, Tracy]  The lower capital is probably from the revised plan.  I am okey with the other assumption.
2) Keep O&M flat to 2001 numbers? [Geaccone, Tracy]  Costs have been reduced due to Dynegy transition.  If we assume under our control, costs would be the same or slightly lower.  I would propose the same for now.
3) Tracy / Shelley - Any thoughts on how to incorporate the contract info to better analyze the "contract roll off" scenarios? We have just assumed the 2002 Plan with 1-2% growth rate going forward with a new rate case in effect in 2005. Rod, not sure how you want to look at rate case assumptions or expansion opportunities but we can discuss tomorrow.  Recognizing the volume of NNG contract info and the time constraint we are under, there may or may not be any better alternative. [Geaccone, Tracy]    I think this is a good assumption
4) Rod - we have assumed an equity infusion of $175 million to re-capitalized NNG to more "reasonable" levels.  I can reduce the amount to $112,500,000 which is the Citibank prepay amount allocated to NNG if that sounds reasonable.
5) We will show a reduction in A/R of $1.807 billion and a corresponding reduction in equity due to the MCTJ loan.

Any thoughts you have on the above items would be very helpful.  We are trying to send out the info memo by the end of the week.  This model will be the basis for the NNG valuation.

Thanks,
Kevin


I would like crib, high chair, monitor, tub of toys for 9mths - 12 months plus, crib gym.

 -----Original Message-----
From: 	Wallumrod, Ellen
Sent:	Tuesday, January 08, 2002 4:48 PM
To:	Kitchen, Louise
Subject:	FW: Incidental items confirmation

 -----Original Message-----
From: 	"Premier Home Rentals, Inc." <kristen@skihomerental.com>@ENRON
Sent:	Tuesday, January 08, 2002 3:05 PM
To:	Wallumrod, Ellen
Subject:	Incidental items confirmation

Ellen-

Please find below information on each item you have requested.  I can give a
credit card number to most vendors or just bill you for everything at the
end.  Please let me know your preference.

*Car Pick up- I have reserved a private vehicle for 4.  Vail Limo
confirm#4163.  They will be met at the gate by the driver.  Cost $360 +
gratuity.

*Ski rental- I need a shoe size, weight and skier ability for Ellie(b/c she
is the only one renting boots)  Also what time would you like the skis to
arrive, we need to have everyone there.  The car above should arrive approx
7:30 pm.  The latest we can schedule on arrival day is 8:00 pm.  The
performance package without boots is $34 per day + $1 day insurance.

*Ski Pass- I have attached pricing on multi day tickets, you do not need a
passport photo.  It will simply have your name on it.  You may set up
individual accounts for each skier, or I can run them through our company
account and have them at the home for your arrival.  I will need full names
of each skier, skiing start date, and number of ski days.

*Snowmobile- I have reserved 7 people on 6 machines for the 3:00 pm Tigiwon
Tour Feb 12.  I'm sorry I sent you last years pricing, the cost will be
$116.95 for the 5 single riders and $157.20 for the double machine.  This
price includes tax, forest users fees, and gratuity.  Please note that the
3pm tour will return at 6:30-7:00pm and it will be dark.

*Baby Equipment- I have reserved a crib w/bumper pad and high chair for
Scott.  The cost for everything including tax and delivery is $140.67.  We
can add a "tub of toys" appropriate to his age for $36 for the week.  They
also offer crib gyms, strollers, monitors, etc.

*Table and Bed- I will make certain that both these items are attended to.
There are sufficient linens for this set up.

*Telephone number-  for you information the telephone number at the home is
970-845-7479.  If you need to receive and faxes you may direct them to our
office and we will deliver them to the house.  The fax number here is
970-476-7861.

I look forward to your additional details.

Kristen Nye
Premier Home Rentals, Inc.
www.SkiHomeRental.com
888-708-7179
----- Original Message -----
From: "Wallumrod, Ellen" <Ellen.Wallumrod@enron.com>
To: "Premier Home Rentals, Inc." <kristen@skihomerental.com>
Sent: Monday, January 07, 2002 4:16 PM
Subject: FW: Shipping address

> sorry, pressed the send button before I was done - where was I.....
>
> * ski rental, continued from below: we would like the Performance Package
you mentioned where they come and have us fitted in the house, all with
insurance and all have to be the "paraboliques / carvers". How much will the
"skis + poles" package cost ?
>
> * Ski Pass: can you forward all the different packages with prices that
are available ? And do we need to bring a passport photo for the pass ?
>
> * Snowmobile: please book Tuesday February 12 at 3:00 PM for a 2 hour
tour. 7 riders on 6 machines.
>
> * Baby Equipment: we would be grateful if you could provide a crib and
high chair for the house. Scott will be 8 months.
>
> * Table & Bed: Louise mentioned that you could extend the table to seat 10
(actually 9 chairs + 1 high chair). And for the twin beds to be put together
as one bed. Please confirm. I assume there are bedding and towels available
for all ?
>
> This is it for now - thanks for your help !
>
> Regards,
> Ellen
>  -----Original Message-----
> > From: Wallumrod, Ellen
> > Sent: Monday, January 07, 2002 4:51 PM
> > To: 'Premier Home Rentals, Inc.'
> > Subject: RE: Shipping address
> >
> > Hi Kristen
> >
> > I have a few more requests and questions please:
> >
> > REQUESTS:
> >
> > * Car Pick-Up: Could you arrange for a car to pick up the party of 4 who
are arriving from London ?
> > As you mentioned the price will be $360 per trip + grat., when and how
do we pay ?
> > Flight details: Arrive - Denver (DEN) Saturday February 9, 2002
> > British Airways BA2019 at 4:00 PM
> > Contact name - Mr. Bruce Kitchen
> > And to take them back to the airport the following Saturday.
> > Flight details: Depart - Denver (DEN) Saturday February 16, 2002
> > British Airways BA2018 at 5:50 PM
> > Contact name - Mr. Bruce Kitchen
> >
> > * Ski Rental:
> > Name Require Height Ski Length
> > Louise Skis + Poles 5ft 8" 1.85
> > Marcus Skis + Poles 5ft 8" 1.85
> > Marlene Skis + Poles 5ft 2" 1.75
> > Bruce Skis + Poles 6ft 1.90
> > Paul Skis + Poles 6ft 1.90
> > David Skis + Poles 6ft 1" 1.90
> > Ellie Boots + Skis + Poles 6ft 1.85
> >
> > *
> >
> >  -----Original Message-----
> > From: "Premier Home Rentals, Inc." <kristen@skihomerental.com>@ENRON
> > Sent: Saturday, January 05, 2002 9:36 AM
> > To: Wallumrod, Ellen
> > Subject: Shipping address
> >
> > Ellen-
> > You have the correct address
> >
> > 2581 Larkspur Lane
> > Vail, CO  81657
> >
> > Please put your or Louise's name on the box. We will make sure the boxes
are
> > at your home for arrival.
> >
> > Kristen Nye
> > Premier Home Rentals, Inc.
> > www.SkiHomeRental.com
> > 888-708-7179
> > ----- Original Message -----
> > From: "Wallumrod, Ellen" <Ellen.Wallumrod@enron.com>
> > To: "Premier Home Rentals, Inc." <Kristen@skihomerental.com>
> > Sent: Friday, January 04, 2002 5:18 PM
> > Subject: RE: Ground transportation
> >
> >
> > > No worries.
> > >
> > > You mentioned that we could have provisions delivered to your office,
> > would the address in Vail (Premier Home Rentals, Inc., 2581 Larkspur
Lane)
> > be the correct address to use ? Of course I will let you know if, when
and
> > what we would have shipped out in advance.
> > >
> > > Ellen
> > >
> > > >  -----Original Message-----
> > > > From: "Premier Home Rentals, Inc." <kristen@skihomerental.com>@ENRON
> > > > Sent: Friday, January 04, 2002 6:05 PM
> > > > To: Wallumrod, Ellen
> > > > Subject: Re: Ground transportation
> > > >
> > > > Undeliverable?  That's odd, sorry for the trouble.
> > > >
> > > > Kristen Nye
> > > > Premier Home Rentals, Inc.
> > > > www.SkiHomeRental.com
> > > > 888-708-7179
> > > > ----- Original Message -----
> > > > From: "Wallumrod, Ellen" <Ellen.Wallumrod@enron.com>
> > > > To: "Premier Home Rentals, Inc." <Kristen@skihomerental.com>
> > > > Sent: Friday, January 04, 2002 4:27 PM
> > > > Subject: RE: Ground transportation
> > > >
> > > >
> > > > > Thanks !
> > > > >
> > > > > PS - sorry for all the emails, it said the first two were
> > undelivered...
> > > > >
> > > > > >  -----Original Message-----
> > > > > > From: "Premier Home Rentals, Inc."
<kristen@skihomerental.com>@ENRON>
> > > > > > Sent: Friday, January 04, 2002 5:31 PM
> > > > > > To: Wallumrod, Ellen
> > > > > > Subject: Re: Ground transportation
> > > > > >
> > > > > > The drive is 2-3 hours Denver to Beaver Creek.  Approx 140
miles.
> > > > > >
> > > > > >
> > > > > > Kristen Nye
> > > > > > Premier Home Rentals, Inc.
> > > > > > www.SkiHomeRental.com
> > > > > > 888-708-7179
> > > > > > ----- Original Message -----
> > > > > > From: "Wallumrod, Ellen" <Ellen.Wallumrod@enron.com>
> > > > > > To: "Premier Home Rentals, Inc." <Kristen@skihomerental.com>;
> > > > > > <ellen_wallumrod@enron.com>
> > > > > > Sent: Friday, January 04, 2002 4:20 PM
> > > > > > Subject: RE: Ground transportation
> > > > > >
> > > > > >
> > > > > > > oh - approx how long is the drive from Denver Airport to the
house
> > in
> > > > > > Beaver Creek ?
> > > > > > >
> > > > > > > Ellen
> > > > > > >
> > > > > > > >  -----Original Message-----
> > > > > > > > From: "Premier Home Rentals, Inc."
> > <kristen@skihomerental.com>@ENRON
> > > > > > > > Sent: Friday, January 04, 2002 5:24 PM
> > > > > > > > To: ellen_wallumrod@enron.com
> > > > > > > > Subject: Ground transportation
> > > > > > > >
> > > > > > > >
> > > > > > > > Ellen-
> > > > > > > >
> > > > > > > > Thanks for your call today, we look forward to handling all
> > these
> > > > > > details.
> > > > > > > >
> > > > > > > > With regard to ground transportation:
> > > > > > > > A private car and driver from Denver to Beaver Creek is $360
> > each
> > > > way
> > > > > > plus  driver gratuity.  They have Suburban vehicles for the
group of
> > 4
> > > > and
> > > > > > vans  for the group of 6.
> > > > > > > >
> > > > > > > > A single one way on a scheduled shuttle is $62 plus
gratuity.
> > > > > > > >
> > > > > > > > Please let me know if I may provide any additional info.
> > > > > > > >
> > > > > > > >
> > > > > > > > Kristen Nye
> > > > > > > > Premier Home Rentals, Inc.www.SkiHomeRental.com << File:
> > > > > > http://www.SkiHomeRental.com >>
> > > > > > > > 888-708-7179
> > > > > > >
> > > > > > >
> > > > > > >
> > **********************************************************************
> > > > > > > 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.
> > > > > > >
> > **********************************************************************
> > > > > > >
> > > > > > >
> > > > > >
> > > > >
> > > > >
> > > >
> > >
> > >
> >
>
>

 - peaks rates.doc << File: peaks rates.doc >>


John,

I haven't received the invitation yet to the Sep 13th meeting.
I shall contact you Thursday regarding the CMU presentation.

Vince

John B Gordon@ENRON
08/23/2000 05:01 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Recruiting at Carnegie-Mellon

Vince:

I understand that you are the lead recruiter for CMU.  As you know, I am the
only alum from that school in Enron's Associate Program.  I assume I will be
joining you for our corporate presentation on 9/13 at 7:30am.  Please let me
know what I can do to help prepare for this event.  Enron and GSIA are a
great fit, so I want this recruiting effort to go well.

Are you also giving a talk/lecture to the computational finance students?  If
so, what time?  Maybe we can schedule a lunch with Duane Seppi.  I look
forward to hearing from you.

John Gordon


Shawna Johnson

Amy w/conf. rm.3-3974


Who ever is working on this please add this to the draft.

----- Forwarded by Brent Hendry/NA/Enron on 10/10/2000 05:23 PM -----

	Paul Radous
	10/10/2000 04:08 PM

		 To: Brent Hendry/NA/Enron@Enron
		 cc:
		 Subject: Smith Barney AAA Energy Fund L.P.

Brent,

We also want to require the maintenance of an up front cushion amount of
$250,000 to open up trading.  That is not indicated on the worksheet.
---------------------- Forwarded by Paul Radous/Corp/Enron on 10/10/2000
04:07 PM ---------------------------

From:  Paul Radous
 10/10/2000 02:32 PM

To: Susan Bailey/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Stephanie
Panus/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT
cc: William S Bradford/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron

Subject: Smith Barney AAA Energy Fund L.P.

Please prepare a draft isda for this hedge fund ASAP.  Before actually
distributing this ISDA, please give me word that it is ready in the event
that Bill wants to tweak something.


Get ready.  Beginning in November, electronic pay stubs will be available to all employees who have their paychecks direct deposited into their bank account.  Electronic pay stubs are an easy, fast, and efficient way for you to get your payroll information.  They will also help Enron to realize a considerable savings in time and dollars spent over traditional printed pay stubs.

If you prefer to receive a hardcopy of your pay stub, click on the link below to complete a request form.  This form must be submitted to Payroll by October 15, 2001.  Unless you submit a form your pay stub information will default to electronic viewing.

Please click on the link below.

Name:             PATRICE MIMS-THURSTON
Personnel number: P00502751
Phone:            7138535772

If you have questions about electronic pay stubs, please contact Janice Priddy (Payroll) 713-853-7839 or Marie Newhouse (ClickAtHome) at 713-345-4185 or send an email to  Enron.Payroll@enron.com (Enron Payroll in Outlook).

Stay tuned for more details in the coming weeks.

http://etcsurvey.corp.enron.com/wi/p0810709/i.asp?r=18600&s=JCGUJMIY&l=9


REMINDER:	Whalley's Budget Meeting today @ 11:00 a.m. CST in EB32C2.  Greg will be participating from the London office.

Many Thanks,

Liz Taylor x31935


The attached article (based upon another FERC leak) states that in its
upcoming order, FERC will lower the cap to $100 but will not (cannot) order
refunds.

>   By JASON LEOPOLD
>   Of DOW JONES NEWSWIRES
>
>LOS ANGELES (Dow Jones)--The Federal Energy Regulatory Commission will
>likely lower its proposed $150 per megawatt-hour "soft cap" on California's
>wholesale power prices to $100/MWh in its final order to repair the state's
>troubled electricity market, commissioners said Monday.
>But the commissioners told Dow Jones Newswires they won't order generators
>to refund billions of dollars in windfall profits earned last summer as a
>result of spiking power prices in the state, despite pleas from state
>lawmakers and Gov. Gray Davis, because they lack the authority to do so.
>"We still believe we cannot order refunds," one FERC commissioner said. "If
>there was an inch in the (Federal Power Act) that gave us the authority, we
>would take it. But that would destroy the future of deregulation."
>FERC released a report earlier this month that largely pinned California's
>ongoing power crisis on the structure of the state's wholesale electricity
>markets. The commission also issued a proposed order requiring changes
>needed to make the market workably competitive.
>The order found that electricity prices in the state rose to "unjust and
>unreasonable" levels last summer. But FERC fell short of ordering refunds,
>saying it lacked the legal authority to do so.
>Instead, FERC proposed changes to the governing boards of the state's two
>wholesale-market operators - the Independent System Operator and Power
>Exchange - said the state's three investor-owned utilities should no longer
>be required to buy a majority of their power from the CalPX, and proposed
>penalties for utilities that put off buying the power they need until the
>last minute.
>FERC also proposed capping the price paid to all bidders in California's
>power auctions at $150/MWh. Individual bidders could still get higher
>prices, but would have to justify their claims to FERC.
>FERC may issue its final order as early as Dec. 13, and commissioners said
>California shouldn't expect it to differ from the proposed changes
>recommended by FERC earlier this month.
>The comment period for FERC's draft order closed Nov. 22.
>(MORE) Dow Jones Newswires 27-11-00
>2305GMT
>Final Order Won't Order Refunds
>Davis warned FERC commissioners at a public hearing in San Diego two weeks
>ago that a failure to order refunds would produce a "ratepayer revolt."
>"Your proposed solution to our energy crisis does nothing to lower prices
>for California consumers," the Democratic governor told FERC on Nov. 13 at a
>meeting in San Diego. "Quite to the contrary, it is designed to bring our
>economy and our consumers to their knees."
>California's power regulators and utilities also pressed for refunds.
>The state's Public Utilities Commission said it has evidence of market abuse
>by generators and that consumers were overcharged $4 billion last summer for
>electricity.
>Edison International unit (EIX) Southern California Edison, in its response
>to the FERC order, attached a study by a Massachusetts Institute of
>Technology economist, who found "considerable evidence" generators and power
>marketers deliberately withheld supply from California from June through
>September - when power usage is at its peak - to drive up wholesale prices.
>But despite the allegations, FERC commissioners said they will not order
>refunds, though they said the state could legally return to cost-based
>rates.
>One commissioner also warned a lower "soft cap" of $100/MWh would likely
>deter generators from building new power plants in the state, even as it
>limited price spikes.
>"The truth of the matter is there is no painless or easy way for California
>to change its electricity market," the FERC commissioner said.
>
>   Consumer Groups Push Ballot Measure To Re-regulate
>
>Davis will file the changes the state wants made to the proposed order with
>FERC on Friday, but FERC commissioners said they don't expect to be swayed
>by the governor's filing.
>Meanwhile, Californians are steaming ahead with their own solutions.
>On Tuesday, the Foundation for Taxpayer and Consumer Rights, a Southern
>California consumer advocacy group, will hold a news conference announcing
>its own sweeping changes to the state's power market, which it will try to
>implement through a proposed ballot measure, the details of which have not
>been disclosed.
>Furthermore, state lawmakers plan on rewriting parts of AB1890, California's
>landmark restructuring law when the state Legislature convenes next year.
>There is already heated debate within the Legislature to reauthorize
>utilities to build power plants and to create a public utility system like
>Nebraska's, where there are no investor-owned utilities, in an effort to
>control power prices.
>"California lawmakers want to be re-elected in 2002," one key lawmaker close
>to the electricity issue said.
>And Davis is in meetings to replace the Cal-ISO and CalPX with a new entity
>to manage the power grid and the state's two wholesale power markets, said
>Steve Maviglio, Davis' press secretary.
>-By Jason Leopold, Dow Jones Newswires; 323-658-3874;
>jason.leopold@dowjones.com
>-0-
>Last week, FERC received hundreds of pages of comments to its proposed order
>for California's power market.
>(MORE) Dow Jones Newswires 27-11-00
>G_nther A. Pergher
>Senior Analyst
>Dow Jones & Company Inc.
>Tel.  609.520.7067
>Fax. 609.452.3531
>
>The information transmitted is intended only for the person or entity to
>which it is addressed and may contain confidential and/or privileged
>material.  Any review, retransmission, dissemination or other use of, or
>taking of any action in reliance upon, this information by persons or
>entities other than the intended recipient is prohibited. If you received
>this in error, please contact the sender and delete the material from any
>computer.
>
> <<Pergher, Gunther.vcf>>
>
>------_=_NextPart_000_01C05946.A1460FC0
>Content-Type:  application/octet-stream;
> name="Pergher, Gunther.vcf"
>Content-Disposition:  attachment;
> filename="Pergher, Gunther.vcf"
>
>BEGIN:VCARD
>VERSION:2.1
>N:Pergher;Gunther
>FN:Pergher, Gunther
>ORG:Dow Jones Newswires;News Gathering & Pdn
>TITLE:Sr Research Analyst
>TEL;WORK;VOICE:609-520-7067
>ADR;WORK:;South Brunswick NJ
>LABEL;WORK:South Brunswick NJ
>EMAIL;PREF;INTERNET:Gunther.Pergher@dowjones.com
>REV:20001121T161855Z
>END:VCARD
>
>------_=_NextPart_000_01C05946.A1460FC0--
>
Carol Close Opatrny
Opatrny Consulting, Inc.
18509 N. E. Cedar Drive
Battle Ground, Washington 98604
360.666.8509 (fax)
360.666.8510 (phone)
e-mail: ccopat@e-z.net


eze-  i got your message and i might be up for yoga tonight.  i went to core last night and it was nice and mellow.  do you have any idea who teaches the 7:30 class?  i went a while back and it this hyper-active guy taught the class and it wasn't so good - adding that to the rockne risk makes it a dangerious proposition.

do you happen to have janice's email address?  jai and i haven't been to earls in a long time and i was wondering how she was doing.  if you see her when you're working, tell her i said hi.

	- c -


Group,

On April 27th and 28th there will be a training class offered in Portland,
Oregon with two spots available.  The course is Electric System Operation for
the Non-engineer.  The course highlights include:
Generation
Transmission and Overhead
Distribution Systems
Underground Distribution
Switchgear
Voltage Control
Matching Generation

The course will purportedly provide a comprehensive understanding of system
operations including fossil fuel, hydro and nuclear generation, transmission
and distribution.  The course should provide not only technical information
but also economics of operation, system and equipment protection and safety.
I will be taking the class along with two members of the real-time group.  If
this is a useful class (as it appears to be) we will have the opportunity to
attend it again later this year.  If you are interested in attending this
class on these dates please let me know as soon as possible.

Thanks,

Bill


AGA for 1/26/01 is -128w/d

Website information:
http://gasfundy.corp.enron.com/gas/framework/default.asp
Drop down Box to "Storage"
In-house Analysis
My files are the last three files.

When the dialog box asks to upadate links click "NO".


Can you take a quick look at this?

-----Original Message-----
From: Perkins, Mary
Sent: Tuesday, November 06, 2001 8:29 AM
To: Taylor, Mark E (Legal)
Subject: FW: gscap.pdf.pdf

Mark,
I will call you re this doc.
Mary

-----Original Message-----
From: Dobin, Nora
Sent: Monday, November 05, 2001 3:37 PM
To: Perkins, Mary
Subject: FW: gscap.pdf.pdf

Attached is both Corporate Account Agreement and final Supplement.

-----Original Message-----
From: Perkins, Mary
Sent: Friday, October 26, 2001 3:11 PM
To: Dobin, Nora
Subject: FW: gscap.pdf.pdf

-----Original Message-----
From: Hardt, Barbara [mailto:barbara.hardt@gs.com]
Sent: Friday, October 26, 2001 1:08 PM
To: Perkins, Mary
Subject: FW: gscap.pdf.pdf

-----Original Message-----
From: Hardt, Barbara
Sent: Friday, October 26, 2001 2:07 PM
To: Hardt, Barbara
Subject: gscap.pdf.pdf

 <<gscap.pdf.pdf>>


---------------------- Forwarded by Randall L Gay/HOU/ECT on 11/07/2000 10:44
AM ---------------------------

"PO_JACK" <PO_JACK@email.msn.com> on 11/07/2000 09:29:38 AM
To: "Regina Perkins" <rperkin2@enron.com>, "Randy Gay" <rgay@enron.com>,
"Phyllis Fuller" <pfuller@enron.com>, "Peter Vint" <pvint@enron.com>, "Sally
Shuler" <sshuler@enron.com>, "Sabra Dinari" <sdinari@enron.com>
cc:
Subject: Good Morning All, This is Fred Jackson

Just thought I would say hello and let you know I'm  still in the land of the
living.? Take note of my new e-mail address and  stay in touch.? Talk to you
all soon.
?
Peace & Hair Grease,
?
FGJ