Pleased to send you the November report. Obviously the market is weakening
in North America which is making the quarter challenging but the underlying
momentum of the company continues to improve as the report illustrates.
Look forward to seeing you at the Board meeting.

Regards,
Peter

> [Compaq Confidential - Internal Use Only]
>
> To:  Global Sales & Services Team
>
> Before I report on the great wins and other news this month, I want to
> express a personal note about the organizational announcement earlier this
> month.  I'm excited about the changes for all the reasons already
> communicated - in particular strengthening the integration of our upstream
> and downstream operations.  I'm also excited about Bo McBee and his
> worldwide team in Corporate Quality and Customer Satisfaction officially
> joining our organization.  He and his team are doing a great job, and
> together we will further our efforts to become the leader throughout the
> world in satisfying our customers.
>
> Most of all, I am extremely pleased and encouraged because I believe these
> changes confirm the great work you have accomplished this year.  We've
> already reported a number of major wins as a result of the joint efforts
> by our Sales and Services teams.  There is an air of excitement and
> anticipation about Compaq's momentum - I see it in the emails from many of
> you and as I meet with our teams and customers around the world.  You're a
> remarkable team and, as Michael puts it, let's keep the pedal to the metal
> and keep the momentum strong as we work to successfully close 2000!
>
> Speaking of my travels...
> This month I visited Johannesburg, South Africa, Dubai within the United
> Arab Emirates, and Saudi Arabia.  All of these countries are part of
> EMEA's Business Development Group (BDG), which is responsible for
> developing Compaq business in 98 countries. The group is focused on both
> developed and emerging markets in Eastern Europe, the Middle East and
> Africa. Over the past six years, BDG has grown its revenue more than
> 10-fold.
>
> In South Africa I visited Vodacom, which with 4 million subscribers, is
> Africa's largest mobile phone network operator.  The company has just
> upgraded its billing systems to handle further expansion, and to date is
> one of the world's largest Wildfire installations with some 21 AlphaServer
> GS systems.  I also spent time with the management of Mobile Telephone
> Networks (MTN), South Africa's #2 cellphone operator and another big
> Wildfire customer.  In fact, we just got word that they've placed a $10M
> order for four GS320 AlphaServer systems and storage.
>
> One of my more interesting activities while there was learning more about
> Ikageng, a Compaq-led initiative to bring the benefits of the information
> age to the rural communities of Africa.  Ikageng brings together the
> provision of safe drinking water, affordable healthcare, distance
> learning, improved subsistence farming techniques and Internet access.
> All of this is co-funded by a community bank, together with Compaq,
> Johnnic, a South African media and information group, and the active
> participation of the World Bank.  A real example of Inspiration Technology
> at work!
>
> My visit to the United Arab Emirates included a dinner with our top 30
> customers from across the region, a VIP lunch with our top partners, as
> well as meetings with employees in the region.  I also attended Gitex, the
> region's largest IT exhibition, and met with press at that event to convey
> Compaq's commitment to the UAE.  I was also privileged to have a personal
> meeting with His Highness Sheik Mohamad bin Rashid al Maktoum, Crown
> Prince of Dubai and the Minister of Defense.  These meetings were around
> the official opening of Dubai Internet City, an area of Dubai dedicated to
> making the city the "Silicon Valley"  of the Middle East.
>
> I spent a very interesting day at Aramco in Saudi Arabia, our largest
> account in the UAE. We are the ProLiant standard in this very large energy
> company and we have a great opportnuity to build a strong partnership
> across many additional solutions including high performance technical
> computing, ZLE applications and enterprise storage, in addition to
> recapturing client business from the competition
>
> Some of our largest wins this month
> * Tokyo Stock Exchange - We are replacing Hitachi at the world's third
> largest stock exchange, with a $60-80M order for Himalaya systems. This
> contract should bring in an additional $20-30M in Professional Services.
> *      Eli Lilly - Signed the first leg of a three-year global agreement
> valued at $100M, securing Compaq as the sole supplier for Intel-based
> products, forcing Dell off the customer's standards list and opening the
> door for StorageWorks products, Global Services and high-performance
> servers.
> *      Winstar - Four-year, $100M contract as the exclusive provider of
> Windows NT and storage products, including $10M in AlphaServer systems
> running Tru64 UNIX.
> *      Mead Corp. - Beat IBM, HP and Dell for a five-year, $50M contract
> for ProLiant servers, storage, desktops, portables and services.
> * France Telecom - $30M contract for a global agreement (includes all
> subsidiaries) for a complete line of AlphaServer systems, including DS, ES
> and GS series as well as ProLiant servers.
> * General Motors - Selected as the global Intel-based server standard
> for new application deployment at GM manufacturing facilities. The
> anticipated global revenue is $30M over three years.
> * Electronic Classroom of Tomorrow - $25M for ProLiant 8500 servers,
> StorageWorks products and legacy-free iPAQ desktops.
> * FleetBoston Financial - Beat IBM, Dell and HP for a $40M desktops
> contract
> * Airgroup (Switzerland) - Beat IBM and NetVista for a  $21M contract
> for 20,000 iPAQ desktops.
> * DLI (Korea) - $22M for Professional Services.
> * AltaVista - Shut out IBM and HP by putting into place a $25M fair
> market value lease for ProLiant- and Alpha-based servers, increasing the
> AltaVista lease line to $75M.
> * ASP Host Centric - One of the eight North America-certified Oracle
> Authorized Application Providers (OAAP), the firm will standardize its
> UNIX environment on AlphaServers, replacing Sun systems. This project
> could generate more than $20M for us over the next 36 months.
> * Interfusion - Three-year, $20M contract for a Tru64 UNIX-based
> solution.
> * Westcoast Energy- Topped Dell for a desktop and portables contract
> valued between $15-20M.
> * General Electric - Five-year, $15.4M contract for worldwide Lotus
> Domino rollout and expansion of Exchange rollout, including NT Server
> management outsourcing.
> http://newscpq1.inline.cpqcorp.net/article.cfm?storyid=1146
> * Moebel Pfister - $15.7M outsourcing contract.
> * TriRiga - Beat Dell, EMC and Sun for a two-year, $15M contract for
> storage, Professional Workstations, desktops, portables and services.
>
> EMEA to open Wireless Competence Centre in Stockholm
> Press, customers and partners have been invited to help officially open
> the Compaq Wireless Competence Centre in Stockholm, Sweden, on November
> 27.  The centre is the company's first facility to fully display our
> unique end-to-end capabilities of  solutions, services and products in the
> mobile Internet and wireless space.  The hands-on centre showcases today's
> wireless solutions within four environments - car, home, office and public
> access areas.  Technologies featured include GSM, GPRS, future 3G
> standards, WLAN and Bluetooth.  Compaq's mobile partners such as Nokia,
> Oracle, Cisco, Microsoft, Siebel and Ericsson also plan to participate in
> the opening.  The centre is already hosting customer visits and will
> engage with thousands of customer and partners over the coming year
> through a mix of seminars, tours and customized workshops.  For more info,
> see  http://inline-se.soo.cpqcorp.net/wireless/
>
> Planning for Innovate Forum 2001 under way
> Compaq's premier event for its global and large account customers -
> Innovate Forum 2001 - is set for May 23-24 at the George R. Brown
> Convention Center in Houston.  The hand-picked guest list will include
> some 4,000-5,000 senior-level technical and business executives, including
> our key channel partners, press, industry and financial analysts, and
> Compaq's key alliance partners.  The program will feature keynote
> speeches, plenary sessions, special interest seminars, a solutions
> pavilion, and social events.  For more information, see the Innovate site
> on Inline:  http://inline.compaq.com/na/innovate/
>
> Cross Border Office files first lawsuit
> The Cross Border Office has been created to prevent unauthorized movement
> of Compaq products by dealers and gray market brokers in order to protect
> profit margins and ultimately, customer satisfaction.  The Cross Border
> team provides gray market awareness training to all sales personnel, mail
> and phone hotline access to report gray market activity, works jointly
> with regional sales, services, business unit and channel teams to create
> policy and procedures to reduce gray market activity and, working with the
> Law department, to bring legal action against gray market brokers if
> warranted.
>
> As a result of these efforts, Compaq has filed its first lawsuit against
> two Canadian technology consulting firms for breach of contract and fraud.
> The suit, which seeks compensatory damages of more than $17 million,
> claims the consulting firms fraudulently represented to Compaq that they
> had a contract with the U.S. Department of Transportation's Federal
> Aviation Administration to supply a large number of computers and related
> equipment to U.S. airports. This lawsuit hit many national publications
> and sends a message to the worldwide gray market community that Compaq
> will take actions to protect its authorized resellers, product quality and
> our customers.
>
> For further information on the Cross Border Office, gray market red flags
> and to view the web-based training video, see
> http://inline.compaq.com/wwsm/crossborder/index.asp
>
> Key Channel Partner programs rolling out
> Early this year the Tigerbite project was established to redefine and
> simplify Compaq's model with our channel partners.  A key element of the
> model is worldwide programs that provide profitable growth opportunities
> for Compaq and its partners.  Two such programs - Internet List Pricing
> (ILP) and the Compaq Agent Program - are currently being implemented by
> the regions.
>
> Worldwide implementation of ILP is a top priority for the company.
> Creating and publishing (where needed) competitive List Prices is
> absolutely essential to establishing a more consistent, worldwide pricing
> model for both our customers and partners. By the end of this month ILP
> will have been implemented in North America, Latin America, Japan and
> Greater China, with pilot programs in Singapore and Malaysia.  EMEA and
> the remaining Asia Pacific countries are expected to complete the rollout
> by January 1, 2001.
>
> The Compaq Agent Program, which allows partners to earn commissions when
> they refer customers to purchase products/services directly from us,
> currently has been implemented in the U.S., Latin America (14 countries)
> and CKK.  This month, APD is implementing pilot programs in Singapore and
> Malaysia, and plans to roll out the program in seven additional countries
> in the first quarter.  EMEA held an Agent Program Summit this month with
> 10 countries to assess and develop their 2001 rollout plans which include
> adding Enterprise-class products to their program next year.
>
> News from the Compaq Alliances team
> *      Compaq regained the #1 platform partner position with SAP with 33%
> market share over all platforms (NT, UNIX with R/3, and mySAP.com). IBM is
> 2nd in line with 23% share. In North America alone, our overall SAP share
> increased from 25% to 32% in the third quarter.  As an aside, SAP's entire
> executive board and senior executive staff use our iPAQ Pocket PCs.
> Rollout of the product to SAP Sales and Marketing is also in progress -- a
> very visible endorsement of Compaq's leadership in Internet access as it
> applies to enterprise applications.
> * Cable & Wireless CEO and executive visit to Marlboro in October
> included CEO Graham Wallace and 56 top C&W executives. C&W new ASP
> 'a-Services' UK launch on October 31 followed the successful U.S. launch
> in late September.
> * Compaq secured the notebook business with CGE&Y UK for their
> internal use.  Toshiba had been the incumbent for 5 years.  CGE&Y is
> upgrading to Oracle 11i on Alpha Tru64 UNIX.  As one of the first
> customers globally to upgrade to 11i on Alpha, they have agreed to be a
> reference site.
> * Our successful Platinum Sponsorship of Commerce One's Global Trading
> Web Technical Forum included a Compaq keynote and non-disclosure breakout
> session on new ProLiant 8-ways.
> * A  9-city roadshow in EMEA was kicked-off with Intel, starting in
> Munich.  This is an extension of the successful 11 city roadshow in the
> U.S. that drove traffic to the speedStart website and should do the same
> for EMEA..
> * Strong Compaq presence with Premier sponsorship at Oracle Open World
> in October included Michael Capellas luncheon speech to 200+ C-level
> customers, on-stage server presence at Larry Ellison keynote, and
> excellent Compaq coverage in Oracle publications.
> * Announced major Mid-Market Initiative Contract with Siebel.  We had
> very high visibility at Siebel User Week, and also won Siebel's Platform
> Partner of the Year awards for Excellence in EMEA and NA.  We recently
> announced a Benchmark Figure of 10,200 Siebel users running Microsoft NT
> and SQL 7 on ProLiant systems.
> * Compaq had a strong presence at COMDEX with strategic partner,
> Microsoft.  In addition to  supporting Bill Gates' keynote address, the
> Microsoft booth featured iPAQ Pocket PCs demonstrating the award-winning
> OmniSky wireless Internet and e-mail service running on Metricom's
> Ricochet network - the world's fastest mobile broadband network.
> Microsoft also announced the immediate availability of its Windows Media
> Player Technology Preview Edition on Compaq Pocket PCX devices, which for
> the first time delivers streamed wireless Windows Media-formatted audio
> and video to a portable device.
>
> Global Accounts news
> * Do you know about the Discovery, Design and Implementation (DDI)
> application? Global Accounts has moved the DDI application into
> production, resulting in a Web-enabled tool that streamlines and automates
> the DDI phases for signing up new customers.
> http://vinproapp03.cce.cpqcorp.net/ddi/
> * More than 130 people from Compaq EMEA Global Accounts attended a
> conference center at EuroDisney, Paris, for a training program that
> included a focus on personal development skills and a broader look at how
> Global Accounts can build sales.

> * A CD and brochure designed to give Global Accounts salespeople and
> customers a greater insight into the business can be ordered online
> through the GA catalog.
> http://inline.compaq.com/corpmktg/globalaccounts/know/resourcekit.asp
> * For the first time, Compaq has a single, documented global special
> pricing process, enabling us to be smarter than the competition on global
> bids.  Implementation of this process is expected to begin January 1. For
> more information, see
> http://inline.compaq.com/corpmktg/globalaccounts/div/stratplan/index.asp
> or e-mail Philip Kyle.
> * Global Account managers and others whose customers and prospects
> require multi-platform hardware, operating systems and applications will
> want to know about the IQ Center. With more than 150 systems engineering
> personnel, 30,000 square-feet of lab space, 500 CPUs and 100 TB of
> storage, the Center is a well-equipped, one-stop shop for designing and
> testing complex solutions.
> http://inline.compaq.com/corpmktg/globalaccounts/div/gamclose.asp
>
> CPCG headlines
> * Compaq regained total PC and PC server market share leadership in
> the UK during 3Q.
> * Among our many announcements at Comdex, we introduced the
> three-pound, MP2800 - the world's smallest projector -- as well as
> iPAQnet, a collection of products and solutions designed to redefine the
> Internet experience for customers demanding wireless access to e-mail and
> other corporate information. Last, Compaq and Oracle announced an all-new
> Internet appliance based on ProLiant servers and the latest Oracle
> software to deliver the fastest cache on the Internet. Oracle is backing
> up the performance pledge with a $1 million guarantee.
>
> Ratings and reviews
> * Computer Shopper named the iPAQ Pocket PC one of the "Top 100
> Products of 2000"
> * "Looking for the perfect present for the technophile who has
> everything? Then check out the Compaq iPAQ Pocket PC ... the iPAQ is a lot
> slimmer than most of the competition ... Plus, its brilliant 12-bit,
> 4,096-color reflective display will be sure to make the holiday season
> especially bright." - ZDNet
> * Popular Science recognized the iPAQ Pocket PC at an awards ceremony
> for being one of the year's 100 "hottest products and eye-opening
> discoveries." The iPAQ Pocket PC is pictured on the cover of the
> magazine's December edition, now on newsstands.
> * "Sure, the Compaq iPAQ Pocket PC PDA has everything a desktop PC has
> - word processor, Internet browser, e-mail engine, etc., etc. But that's
> not even half the story: It can crank out color video and blast MP3 music
> through a stereo headphone jack..." - Stuff Magazine
>
> Portables garner praise
> * The Armada E500S received the "Four-Star Award" from Computer
> Shopper. "Overall, the Armada E500S is a compelling, well-designed package
> for small businesses ... you get a solid mix of components for the money."
> - Computer Shopper
> * The Notebook 100 was named one of the Top 100 Products of the Year
> by Computer Shopper. "We were duly impressed with Compaq's price-defying
> Notebook 100."
>
>
> Consumer Group highlights
> * Last month, we shipped our 500,000th Configure-to-Order unit. U.S.
> CTO sales grew 256% in the third quarter.
> * Worldwide beyond-the-box revenue in Q3 increased 90% year-over-year.
> * Of the top 25 countries with the highest Consumer sales worldwide,
> six are in the Latin America region: Mexico (2), Brazil (4), Argentina
> (8), Chile (16), Peru/Bolivia (21) and Colombia (22).
> * Consumer's EMEA region hit the $1 billion sales mark in mid-October,
> two months earlier than in 1999.
> * More than 50,000 DSL-ready Presario computers have been sold through
> our deal with Southwestern Bell.
> http://newscpq1.inline.cpqcorp.net/article.cfm?storyid=1034
> * Popular Science magazine included the iPAQ Home Internet Appliance
> in its "Best of What's New" in the computer and software category.
>
> Storage Product Group news
> *      Compaq Belgium and Luxembourg have won four DATANEWS Awards for
> Excellence, one of which was in the category of Enterprise Storage: Compaq
> StorageWorks systems. Compaq also received Awards of Excellence for
> Enterprise Server (ProLiant); High-End Workstations (Compaq Professional
> Workstation), and Services. The Compaq Aero Professional Digital Assistant
> (PDA) received a Quality Award. For more info, visit:
> http://datanews.vnunet.be/dnafe0.asp
> *      An elite group of storage networking companies has joined our
> commitment to support VersaStor Technology - the industry's premier
> implementation of networked storage pooling. These endorsements represent
> an important milestone in enabling SAN customers to leverage business
> information as a virtual resource.
> http://www.compaq.com/newsroom/pr/2000/pr2000103002.html
> * Construction has begun on the Storage Networking Industry
> Association Technology Center (SNIA Technology Center) in Colorado
> Springs, Colo. Upon completion, the 14,000-square-foot center will be the
> largest independent storage networking lab in the world.
> http://storage.inet.cpqcorp.net/download/doc/SNIA_Release_final.doc
> * At last month's Storage Networking World conference, Compaq and IBM
> demonstrated for the first time true multi-vendor online storage
> interoperability for the Open SAN Earlier this month we announced three
> new storage service offerings that accelerate SAN implementation, improve
> enterprise backup performance and increase availability and reliability of
> remote storage management.
> http://www.compaq.com/newsroom/pr/2000/pr2000103001.html
>
> Business Critical Server Group highlights
> * Our Tru64 UNIX business is gaining momentum - growing twice as fast
> as the market in Q2 and Q3 of this year, according to International Data
> Corp. IDC reports that Compaq was the fastest growing UNIX vendor in Q2,
> with 25% growth versus overall UNIX market growth of 13%.
> * On Oct. 31, we announced new Tru64 UNIX, TruCluster and AlphaServer
> products and services enhancements to improve scalability and ease of
> deployment for e-business solutions.
> http://alphaserver.inet.cpqcorp.net/announcements/30oct00/index.html
> * The International Tandem Users' Group (ITUG) Summit 2000, held Oct.
> 15-19 in San Jose, Calif., was the largest ever, drawing 2,900 customers,
> partners, internal developers and executives. A highlight of the general
> session was a live demonstration of the Zero Latency Enterprise
> architecture for customer relationship management, which brings together
> Himalaya, AlphaServer and ProLiant platforms.
>
> North America eBusiness Solutions successes
> *      Service Provider Winstar has signed Compaq as its exclusive
> provider of NT and storage products and committed to purchase a minimum of
> $100M of Compaq products over the next four years, $10M of which will be
> for Alpha UNIX for their rapidly growing complex hosting business.  We're
> also providing $50M in financing directly to Winstar and $50M in financing
> to approved Winstar customers.  Compaq Services has been designated as a
> Winstar Services Partner.
> *      Exodus placed an initial order of more than 500 ProLiant servers
> for their Intel-managed hosting platform.
> * Compaq also inked a deal with Siebel Systems to create a dedicated
> partner sales channel and a $30M joint marketing initiative for an
> integrated hardware/software offering to small and medium enterprises.
> Over 80 sales agents are being authorized to sell the packages, which are
> delivered fully integrated by Compaq Direct.
>
> Compaq Financial Services making a difference
> *      Compaq Financial Services was instrumental in helping to shut out
> IBM and HP from long-time Compaq customer AltaVista by putting into place
> a $25M fair market value lease for NT and AlphaServers.  Through the deal,
> CFS increased Alta Vista's lease line to $75M.
> * CFS scored its first local currency financing in Brazil with a $3M
> deal for servers and services.  In awarding the contract over competitors
> HP and IBM and their respective financing groups, Ericsson cited
> differentiating factors including Compaq's technology and our ability to
> provide a competitive price in local currency.  CFS invoicing
> capabilities, including information for each separate Ericsson cost center
> in Brazil, was also a deciding factor.
> * CFS helped facilitate the largest delivery of Intel servers
> (ProLiant ML 370) to the Czech Republic through a $2.8M, 3-year operating
> lease transaction with Czech Savings Bank.  CFS was the only leasing
> company to offer a sub-lease structure, a differentiating factor that won
> the business over Dell and IBM.
>
> CEI changes name to Compaq Direct
> Custom Edge Inc., a wholly owned Compaq subsidiary formed, is now called
> Compaq Direct. In other "direct" news, did you know that we have more than
> 230 major accounts now buying from us directly and more in the pipeline?
> Combined revenue in Q3 from PartnerDirect, DirectPlus, Major Account
> Direct and GEM Direct totaled nearly 40 percent of CPCG's total revenue in
> North America. What's more, ISSG revenue was more than 27 percent direct
> in Q3.
>
> Siebel's Platform Partner of the Year
> I'm pleased to report that Siebel has named Compaq its Platform Partner of
> the Year for excellence in both EMEA and North America. We recently
> received high visibility at the Siebel User Week event while also
> announcing a record benchmark of 10,200 Siebel users running Microsoft NT
> and SQL 7 on ProLiant servers.
>
> Get Informed
> Inform, Compaq's customer magazine, is now available in printed and
> electronic versions. It's free and available for you to read. Sign your
> customers up by visiting the U.S. (www.compaq.com/inform/issues/sb.html),
> Asia Pacific (www.compaq.com.tw/) or EMEA (www.compaq.com/emea/inform)
> sites.
>
> North America eCommerce and CRM marketing activities
> * North America recently released IMPAQ express, a Web-based tool for
> Customer Relationship Management (CRM) campaign planning and audience
> sizing, to its marketing and sales force. For the first time, campaign
> planning can start with a quick and easy look at the size and scope of a
> potential installed-based audience.
> * Compaq recently co-sponsored eLink, a B2B e-commerce event targeted
> at procurement, IT, marketing and financial executives hosted by Commerce
> One in Las Vegas. Attendees witnessed the on-stage construction of a live
> e-marketplace powered by Commerce One and Compaq servers. In addition, we
> demonstrated our Roundtrip configuration and Auction capabilities.
>
> Wins Around the World
> As always, thanks to everyone for your tremendous efforts this month.
> Please take a few minutes to look over the complete list of recent wins
> around the world and continue to write me with your news and success
> stories. http://inline.compaq.com/wwss/wins/worldwins.asp
>
> Let's finish the quarter strongly!!
>
> Regards,
> Peter
>
>


Dear Mr. Taylor:

I am writing to remind you that you are scheduled to participate in SWAPs &
Other Derivatives in 2001, which will be held on November 12-13, 2001 at the
PLI New York Center, 810 Seventh Avenue, 21st Floor.

You are scheduled to speak Tuesday, November 13th, 2001 at 11:15 a.m. on
Energy, Electricity, Bandwidth/Telecommunications Derivatives.

In order to ensure adequate preparation for your presentation, please
forward all audio/visual equipment requests to me as soon as possible.

If you plan on using a PowerPoint Presentation for the program, please
proceed as follows:

	*	E-mail a copy (specifying Program title, date and time of
your presentation) no later than Friday, November 9th, at 3:00 p.m. EST to:
			o	lcorrea@pli.edu
			o	isingh@pli.edu

	*	If you are unable to send an e-mail copy please bring a
floppy disk containing your presentation to the program.

	*	If you would like to distribute any material in addition to
those in the handbook, please make sure to deliver sufficient copies
(approximately 200) for all registrants to:
				Practising Law Institute
				Attn: Adele Tanner
				Program: SWAPs
				810 Seventh Avenue - 21st Floor
				New York, NY 10019

	*Please make sure that the copies arrive the day before you are
scheduled to speak.

For further clarification, please contact me at (212) 824 - 5808.

Very truly yours,
Indira Singh
Program Assistant
Practising Law Institute
810 Seventh Avenue
New York, NY 10019
Tel: (212) 824 - 5808
Fax: (212) 824-5871
isingh@pli.edu

***********************************************
PLI declines to enter, or be bound by, any
agreement involving electronic signatures.
***********************************************

Visit us at www.pli.edu.


FYI
---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on
01/02/2000 02:30 PM ---------------------------

Margaret Santos
01/02/2000 01:21 PM
To: Rio de Janeiro Brazil - Office Staff, Salvador Brazil - Office Staff,
Buenos Aires Argentina - Office Staff, Cuiaba Brazil - Office Staff
cc: Ane Borges/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Melissa
McIntyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rubena
Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brenda
Garza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lisa
Wolfe/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Yvette
Pinero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, denise@elektro.com.br,
marcia@elektro.com.br, andre@elektro.com.br
Subject: UPDATED ESA PHONE LIST

DEAR COLLEAGUES,

SOME CHANGES WERE MADE AT THE ESA DIRECTORY.
IF YOU HAVE A PRINTED LIST (DATE 12.30.99), PLEASE, PRINT THE UPDATED ONE.

I'M ATTACHING THE FILES PHONE LIST AND  ASSISTANTS (Names of bosses and their
assistants)

NEXT UPDATED LIST ON   02.29.2000

THANK YOU ALL !!!

MARGARET SANTOS
S?o Paulo Office Receptionist
ext. 1172

P.S.:  WE ARE WORKING ON A MORE COMPLETED ESA DIRECTORY.


Tana:  You offered to send the TXU agreement for multiple confirms.  Thanks.
Sara


I believe this has been handled appropriately; however, FYI.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 06/16/2000
08:11 AM ---------------------------

	From:  Clay Spears                           06/16/2000 07:44 AM

To: Mike J Miller/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT, Janet R
Dietrich/HOU/ECT@ECT, Robert P Virgo/HOU/ECT@ECT
cc:
Subject: Oil Release Incident

---------------------- Forwarded by Clay Spears/HOU/ECT on 06/16/2000 07:43
AM ---------------------------

Grady James@ENRON_DEVELOPMENT
06/15/2000 05:26 PM
To: Gus Eghneim@Enron
cc: Ross Newlin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tom
Callaghan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Clay Spears@ECT,
drl9362@waltonemc.com, rdelong@waltonemc.com, Jim Gunn@ENRON, pault@nepco.com
Subject: Oil Release Incident


I would mention Carlos in the email, or have it shown as sent by him.  If it
were me (and not him), I would have you send it under your own name, but
explain that you are helping Carlos.

From: Kathleen Carnahan/ENRON@enronXgate on 05/31/2001 09:31 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Indian matter

I am getting ready to send Michelle Blaine a question regarding some proposed
gifts that Mat Gimble and crew want to give the "new" Seminole Indian Chief.
Would you rather the question be sent by you?  If so, let me know and I will
explain, otherwise I will just copy you on the e-mail.

K-

Kathleen Carnahan
Enron North  America Corp.
1400 Smith Street, EB 3146d
Houston, TX 77002
Phone - (713) 345-3386
Fax - (713) 646-3037


Below is a brief summary of the five Executive Orders issued by Governor
Davis on 2/9/01.

For those of you that want the Cliff Notes Version:

These Orders appear to be an attempt to accomplish three things:

1.  Expedite Siting for New Powerplants and Expansions or Modifications of
Existing Powerplants
2.  Maximize Output and Minimize Outages at Existing Facilities
3.  Centralize Authority and/or Mitigate Issues Impacting Powerplant Siting
and Construction

The tone is both one of we feel your pain in the complexity of permitting
powerplants; and that we will tolerate no excuses for not running at full
capacity.  (ie; the carrot and the stick)

They also includes some targeted incentives to encourage powerplant operators
to sell their power under contract to the State Dept. of Water.

Some of the critical issues impacting the effectiveness of these orders will
be:

- How much capacity is truly "idling" and will be able to be brought back on
line or increase its output?
- Will the state be able to better manage air quality issues and create
flexibility within the framework allowed by the Clean Air Act in order to
positively change the air quality issues impacting power plant construction
and operation?
- How quickly can the accelerated permitting procedures be implemented and
how soon will we see movements in the market to increase new generation given
the other issues in CA?

We will continue to analyze the impacts of these orders, but wanted to get
information to you in a timely manner.

D-22-01  Increased Output/Expedited Siting Mandates

CEC exemption from siting requirements for increased output by existing power
generators.
- limited to less than 50MWs using existing installed capacity b/w
06/01-10/01/01

Expedited processing of applications for certification of existing thermal
powerplants that require retooling and a current license to operate.

Accelerated review from all agencies involved in the licensing of proposed
thermal powerplants.

Action by the State Water Resources Control Board  to insure wastewater
issues do not preclude thermal powerplants from operating.

Requirements for the State Dept. of Water Resources to purchase power from
powerplants using renewables and other resources that may currently have not
other market for their power.

Expires  12/31/01 unless extended

Analysis:

This Order is intended to take away the excuses for why some powerplants are
currently not operating or not operating at full capacity.  It does not waive
air quality requirements (they are addressed in a separate order).

D-23-01  Appropriate Maintenance and Efficient Operation Requirements

ISO Requirements:
- Require generators to submit planned outage schedules to the ISO
- Prepare a coordinated outage plan to be updated quarterly
- Identify generation maintenance criteria to be met by generation facilities
- Maintain records of any unplanned generation facility outages and provide
those records to Electricity Oversight Board
- Conduct independent audits of generation facilities that have fallen below
performance benchmarks est. by the ISO
- Consider seeking the authority under state law of federal regulation to
impose fines on those generation facility owners whose generation facilities
have fallen     below performance benchmarks est. by the ISO

Requires that the Electricity Oversight Board review the ISO Tariffs and
Protocols to identify any necessary revisions to increase the ISO's ability
to ensure adequate power during peak demand.

Instructs the CPUC to ensure that generation facilities still owned by
utilities are operated as required to maintain reliability.

Requires the Electricity Oversight Board to propose legislation to expand its
authority to issue audits of generation facilities that do not meet est.
benchmarks for availability and performance, and issue fines against those
plants, after a hearing.

Analysis:

Again, the tone of this order is that the state won't tolerate outages as an
excuse for not generating.  It is also an attempt to better manage planned
outages to prevent situations that happened last fall when too many plants
where off-line for maintenance at the same time.

D-24-01  Air Pollution Flexibility and Mitigation Measures

Mandates that local air districts modify emissions limits that limit hours of
operation in air quality permits to ensure that power generation facilities
that provide power under contract to the Dept. of Water Resources are not
restricted in their ability to operate.
- Requires air districts to require a mitigation fee for all applicable
emissions in excess of the previous limits
- If air districts do not comply, the Board (CARB?) shall impose
modifications on the permits in lieu of districts

The Board shall establish an emissions reduction credit bank using emissions
reductions from all available sources:
- Credits will be made available to powerplant peaking sources that need
emissions offsets in order to add new or expand peaking capacity for the
Summer Peak Season in 2001
- In the case of powerplants that agree to sell their power under contract to
the Dept. of Water Resources, CA will make available where necessary and
available the required emissions credits at up to a 50 percent reduction,
- In order to maximize the amount of electrical generating capacity,
emissions reduction credits for new generation capacity shall be provided to
facilities where necessary and available.
- Proceeds from the sales of these emission reduction credits shall be made
available to fund emissions reduction programs in the air district where the
new or expanded facility is located.

Expires 12/31/2001 unless extended

Analysis:

This order requires the air districts to modify permit limits on run hours
for air quality reasons by allowing those powerplants that sell to the Dept.
of Water to pay a mitigation fee and creates an emission reduction credit
bank available for use by other sources.  There are a lot of details that
remain to be clarified, including how the state is going to locate emissions
reduction credits where developers were unsuccessful.  However, it is a step
in the right direction by creating flexibility and beginning to drive
authority back to the state level.

D-25-01  Acceleration the Construction and Upgrading of Approved Powerplants

Expedites review and approval of post-certification amendments to increase
output from thermal powerplants by the Energy Commission.

Authorizes the Energy Commission to suspends the requirements of the statutes
and regulations that normally control post-certifications to the extent that
they impact prompt mitigation of this emergency.

Requires the Energy Commission to establish milestones for both initiation of
construction within one year of certification, and for the construction phase
of the project.  Failure to meet milestones without prior approval by Energy
Commission based on a showing of good cause shall constitute forfeiture of
the certification.

Expires 12/31/01 unless extended

Analysis

Again, no excuses for not getting your powerplant modifications approved and
completed in a timely manner.

D-26-01  Accelerating the Availability of New Generation Sources

Requires all relevant agencies shorten the review periods to 7 days for
required environmental impact documents prepared under CEQA for all
powerplants that are not subject to the Energy Commission (under 50MWs) and
that are proposed to be on line by summer 2001.

 Energy Commission shall expedite its licensing process in the following ways:
- Expedite processing of applications for peaking or renewable powerplants
for construction and operation by July 31, 2001.
-Peaking or renewable powerplants that have a current contract with the ISO
and can be online by July 2001 may also apply to be permitted by the Energy
Commission under the emergency siting process.
-Rules which provide a license for a simple cycle thermal powerplant within
four months, shall apply to any proposed simple-cycle thermal powerplant that
can be brought on line by August 31, 2002  and that have an application for
certification complete by Dec. 31. 2001.
-Under regulations for the expedited licensing of powerplants, emission
offset credits are not required at the time of filing an application for
certification
-The Energy Commission shall conduct a study of potential peaking power sites
in the state and prepare a report by 02/21/01  identifying those areas of the
state that would benefit from the installation of peaking powerplants to
augment supplies and ensure reliability through the summer of 2003.

IOUs must complete necessary interconnection studies within 7 days of receipt
of completed application.

Expires 12/31/01 unless extended.

Analysis:

This is an attempt to accelerate the permitting of smaller sources and
peaking units.


Hey Dan:
Just wanted to drop you a line.  I hadn't talked to you in quite some time
and wanted to see how everything was going.  I had lunch today with my
friend, Andrew Slocum, who I think you know.  He talked to his good friend
Adam Wexslur (sp) and said things were going well with the paper.  He told me
that everything seemed to be going great and that the paper has been out on
print for a little while now.  It sounds great!  Please let me know how
everything is going, because I think its awesome what your doing.  Hope to
talk to you soon.
Ben


Opps.  Didn't mean to hit send it just yet.  Much better now.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, February 26, 2002 5:39 PM
To:	McMichael Jr., Ed; Concannon, Ruth; Boyt, Eric; Garza, Maria; Polsky, Phil; Dicarlo, Louis; Olinger, Kimberly S.; Parks, Joe; Mann, Kay
Cc:	Fowler, Kulvinder; Schumack, Sherlyn
Subject:	Enbridge Consumers' Gas Park & Loan

Today we discovered that ENA has 310,000 MMBtu parked with The Consumers' Gas Company Ltd. (an affiliate of Enbridge Inc.) at Dawn that needs to be withdrawn by March 31, 2002.    Dan White (403-508-3184) at Enbridge faxed me their confirmation.  According to Dan, this gas was parked in May and June 2001.  Per Enbridge's confirmation, "Customer shall pay Enbridge a fee of $.22 US/MMBtu...prorated over 12 months".  The confirmation makes it clear that March withdrawals are interruptible.  Dan didn't know if ENA has paid the fee but he is letting ENA take this gas for March!!!  So far have not been able to find a deal ticket in Sitara or tagg that applies to this deal.

Tomorrow, I will get bids from some of the companies ENA has done business with in the past at Dawn.  Before I sell the gas, I will
	1.  verify the creditworthiness of the company we are selling to
	2.  make sure the company we are selling to agrees to pay us for the gas and doesn't net this with some other item.

Kay, the point we are selling the gas at is Dawn which is in Canada.  Are there any special tax issues to address?

Any comments or questions?

Listed below are some of the companies ENA has done business with at Dawn

AEP Energy Services, Inc.
Aquila Canada Corp.
BP Canada Energy Company
Cargill Energy Trading Canada, Inc.
CMS Marketing, Services and Trading Company
CoEnergy Trading Company
Consumers Energy Company
Consumers Gas Company Ltd., The
Coral Energy Canada Inc.
Duke Energy Marketing Limited Partnership
Duke Energy Trading and Marketing, L.L.C.
Dynegy Canada Inc.
Dynegy Canada Marketing and Trade, a division of Dynegy Canada Inc.
El Paso Merchant Energy, L.P.
Engage Energy Canada L.P.
Nexen Marketing
PanCanadian Petroleum Limited
PG&E Energy Trading, Canada Corporation
PG&E Energy Trading-Gas Corporation
Phibro Inc.
Reliant Energy Services, Inc.
Sempra Energy Trading Corp.
TXU Energy Trading Canada Limited
WPS Energy Services, Inc.


Now that we are past the end of the year rollover, a question has been raised
concerning whether or not Y2K representations and warranties should be given
or requested in connection with acquisitions and divestitures.  It is our
recommendation that no special Y2K representations be given or requested.
Obviously, there may be situations in which some form of general
representation or warranty may be appropriate with respect to the condition
of computer hardware, software and related systems.  In such situations, we
suggest that representations and warranties that are customarily used for the
purchase or sale of computer hardware, software and related assets be
utilized.  If you have any further questions on this matter, please contact
Alan Aronowitz or Michael Robison.

Alan and Mike


Russell would like to schedule a meeting to discuss MGU on Wednesday March
7th from 2:30 to 5:00.  Please let me know if this works with your schedules.

Thank you,
Lynn
(312) 541-1379


Due to the sale of HPL we will be modifying  the General Terms and Conditions ("GTC") governing all North American physical natural gas transactions on EnronOnline, on Nov 5th. This will require all Counterparties' not having a Master Agreement governing Physicals to accept the revised GTC in order to continue transacting in these Physicals.
In order to ensure minimal disruption to trading we are taking the following steps.
There will be a pop-up announcement to this effect on EnronOnline on Monday Oct 29th
There will be a ticker with the same information all week , next week on EnronOnline.
The modified version of the GTC will be available on EnronOnline all week, next week for any customers wishing to have their legal departments review it before they accept it.
The EnronOnline marketing group will be contacting customers who had previously accepted the GTC to make sure they are comfortable with the changes.
If you need more information or have any questions please call me at X 31787
Savita


SBX 6 (Burton) was added to the Senate Energy Committee calendar for
Tuesday.   This bill would establish a state power authority.


Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 04/16/2001 12:57 PM -----

	"Dautenhahn, Kimberly" <kdautenh@lehman.com>
	04/16/2001 11:49 AM

		 To: "'sara.shackleton@enron.com'" <sara.shackleton@enron.com>
		 cc:
		 Subject: ISDA Master Agreement

Sara,

I apologize for the delay in getting the signed Agreement back to you. We
are waiting to receive it back from our Zurich office (unfortunately the
person required to sign has been out). We should have faxed signature pages
(which we can, in turn, fax to you) at some point tomorrow. In addition, we
should be able to get you your original copy later this week.

Regards,
Kimberly

Kimberly A. Dautenhahn
Transaction Management
Corporate Advisory Division
Lehman Brothers
(646) 836-2011/0609 (fax)
kdautenh@lehman.com

------------------------------------------------------------------------------
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of this message you are hereby notified that any review, dissemination,
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communication is for information purposes only and should not be regarded as
an offer to sell or as a solicitation of an offer to buy any financial
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statement of Lehman Brothers Inc.  Email transmission cannot be guaranteed to
be secure or error-free.  Therefore, we do not represent that this
information is complete or accurate and it should not be relied upon as
such.  All information is subject to change without notice.


Steve,

We can accelerate the process. We need some internal approvals.
Please, talk to Richard Lewis and  let him know I think it's OK
to publish it because it is a very high level theoretical paper.

Vince

Steven Leppard
02/01/2000 09:56 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Publishing my real options work

Vince

What are the chances of, say, Risk publishing my work before the June
conference?  Do they have peer review etc.?

Steve


We are now engaged with a large coalition of customer groups
committed to passing language in a Bowen bill (a spot bill SBX - 27 has
been introduced for this purpose by Bowen) to fix the language in ABX -1
which permits a ban on new direct access agreements.  We have committed
to Bowen to get her staff a first attempt at draft language by close of
business tomorrow.  The attachment to this email is a draft which has
been discussed by the customers group coalition.  We would like to have
input on this language by 11 am PST tomorrow if at all possible.  Please
email responses to Mike Day at mday@gmssr.com or calling 415-279-0702.

The aim of the bill is to provide specific direction to the DWR and CPUC
so that they cannot use their discretion to make customer choice more
difficult.  In addition to the language in the draft attachment, several
other issues were discussed on the call.  Please comment on these as
well if you can.

1. In sub para. (c) it was felt we should carefully define the stranded
costs DWR might face so they have to show actual damage from a customer
leaving.  CMA proposed defining these "actual costs" as "the costs that
DWR cannot reasonably avoid until one or more of its long term power
contracts expire."   Thus, if the load electing direct access fits
within the DWR short term purchases, there are no stranded costs and no
exit fee.

2. Should there a limitation on the number of times a customer can
switch into and out of the bundled service portfolio?  CMA and other
customers were willing to live with a limit of one switch a year.

3.  Should customers be required to give DWR notice of their desire to
return or the expiration of their direct access deal?  There was some
willingness to do this, balanced against a desire to not be too specific
or to do DWR's work for them.

4.  The large customers were very uncomfortable with having the
definition between small customers who could switch without restriction
and large customers who could not be 500 Kw.  That is the number the
core/noncore advocates are pushing as a dividing line.  The group would
prefer that the limit be 100 Kw, which is the limitation adopted in AB
265, the  SDG&E rate cap bill from the end of last session.  Thus the
100 kW figure has a legislative connection, but still allows a fair
number of commercial customers to have unlimited flexibility to switch.

This is detailed and prescriptive language, but the customer group
parties were strongly convinced that any effort to craft regulations at
the CPUC would be much worse, leading to the desire to limit the CPUC's
discretion with specific language.  At this stage, after hearing that
CPUC Comm. Wood hoped to use ABX -1 to end direct access ( a comment
made to NEV or Greenmountain), we tend to agree.  We will get a better
negotiated result at the legislature than at the CPUC.

Thanks in advance for your fast turnaround on this.  Mike Day

 - subscription.protocols.doc


---------------------- Forwarded by Andrea Ring/HOU/ECT on 02/14/2001 03:11
PM ---------------------------

	From:  Karen D McIlvoy                           02/14/2001 08:24 AM

To: merenolan@mediaone.net
cc:  (bcc: Andrea Ring/HOU/ECT)
Subject: Fwd: (no subject)

Taking a break from their first day of work, George W Bush and Dick Cheney
go out to a restaurant near the White House.
The waitress comes over and asks them what they would like.
Dick orders the "Heart-Healthy" salad.
The waitress turns to Dubya and asks him, "What would you like, Mr.
President?"
"I'd like a quickie."
The waitress is shocked and astonished. In a huff, she exclaims, "I thought
you were going to bring a new era of moral rectitude to the White House!
Now I see that you, like all politicians, were lying! I'm sorry I ever voted
for you!" and storms off.
Bush sits there, stunned for a moment.
Then Cheney leans over and says, "George, I think it's pronounced QUICHE."


Do you know Doug, Christina, or Lee?

---------------------- Forwarded by Hunter S Shively/HOU/ECT on 10/30/2000
09:29 AM ---------------------------

Doug Gilbert-Smith@ENRON
10/30/2000 07:18 AM
To: Hunter S Shively/HOU/ECT@ECT
cc:
Subject: IT needs

Hunter,

Let me know when a good time to meet Lee and Christina is as they were
planning on taking us to lunch later this week. They have done alot of work
with data aggregation off the web so they should fit the bill.

Let me know when a good day is.

Take care,

Doug


I have continued the Hilcorp Old Ocean deal.  Dan Hyvl is writing up the
contracts for me and they should be ready Monday.  Terms are as follows:

Sept - Nov 2000
IFHSC + .02

Gas Daily for any mid month turn on as in our purchase contracts

Letter of credit must be approved prior to Sept 1 (they said they will have
it Monday by 2pm)

volume min/max is 7,000/day - 20,000/day with same tolerance currently
existing for swing.(we expect to level out around 10,000/d)

Please call if you have any concerns as we will continue this gas flow
without interruption.  Thanks,  Mary Jo Johnson


TOPIC(S):  Great River Energy Proposal
 DATE:  Wednesday, November 1
LOCATION:  697 (we will call Sue at her desk)
TIME:  1:00-3:00 pm


Kay:

Note the following timetable from the final version of the ENA/PPL letter
agreement:

(1)  ENA agreed to use commercially reasonable efforts to deliver the final
form of the turbine contract on or before April 11, 2001.
(2)  The parties agreed to commercially reasonable efforts to execute an
escrow agreement on or before April 16, 2001.
(3)  The escrow account must be funded 3 business days after the later of
(a) ENA's delivery of the final form of the turbine contract and (b) the
closing of PPL's financing.
(4)  ENA can terminate if the escrow is not funded on or before April 19,
2001 (but this date gets pushed back by one business day for each business
day beyond April 11, 2001 that ENA delivers the final form of the turbine
contract).
(5)  The closing occurs at least 5, but not later than 10, business days
after funding the escrow account.
(6)  Either party may terminate if the closing has not occurred on or before
May 3, 2001.

If ENA delivers the final form of the turbine contract on April 11, 2001,
then the April 19, 2001 right to terminate stands.  PPL's obligation to fund
the escrow would then be determined by the date of its loan closing.  Greg
Lang advises that they are working on PPL's financing, but he did not give
an estimated date for financial closing.

I advised Greg on Friday that the legal opinions from both GE and Enron were
causing heartburn.  He agreed to pass this along to Isabel Parker.  He asked
today about GE's reaction to the consent document and if it would be
appropriate for Isabel Parker to contact GE directly at this point.  He also
requested a draft of the escrow disbursement instructions.  When you get a
chance, please advise of any comments in order that we can circulate for
PPL's review.  Also, we need to contact Citibank to clear the proposed form
of escrow agreement (and the anticipated disbursement instructions) and to
negotiate the fee.  Let me know if we can assist in this regard.  Thanks.

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

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all copies of the message.


FYI
-----Original Message-----
From: Castagnola, Daniel
Sent: Sunday, November 11, 2001 7:58 PM
To: Bowen Jr., Raymond
Cc: Hayslett, Rod; McMahon, Jeffrey; Buy, Rick; Gorte, David
Subject: RE: Haina Note

Ray,

Thanks for the feedback.  We'll get started right away.  With regard to the points below:

1 - I agree.  Divestitures, like acquisitions, require DASHs.

2 - This should not be a problem.  The only rep. that I believe we'll have to give is that we own the note free and clear of any liens.  The rep. will be given by the holder of the note, Enron Caribe, Ltd.

3 - I will have to confirm sure that the buyers are still interested on buying the note.  I will let you know as soon as I know.  I have been talking to Michael Bax, Basic Energy - they own equity interest on the plant, and Humberto Sangiovanni with Banco Popular, a local Dominican bank.  People from EGA are aware of these individuals.

 I'll keep everyone posted and will get someone from EGA to help so that they can be in the loop.

 Dan

-----Original Message-----
From: Bowen Jr., Raymond
Sent: Sun 11/11/2001 2:10 PM
To: Castagnola, Daniel
Cc: Hayslett, Rod; McMahon, Jeffrey; Buy, Rick; Gorte, David
Subject: Haina Note

Dan,

Rod Hayslett has agreed to support the sale of the Haina note.  Please proceed.

1)      I want a DASH on the transaction.  RAC signoff on any asset sales is policy.  I view the sale of a note as policy.

2)      I want to make sure that Enron is not making any substantive reps or warranties that could bite us.
3)      I want to know who the buyer is.

Ray


Andy,
thanks for the update and your help in articulating this issue to the
commercial team
Ted


Over the past several weeks, we have seen an increase in the number of
"killed" or modified EOL transactions.   Please remind each of your
respective groups that this is not an option. Once a customer "clicks" on a
deal, we have a valid, binding contract.   We lose our audit trail, and we
can potentially expose ourselves from a Legal standpoint.   I talked to Mark
Taylor about this today, and the best option is for Legal to prepare a
termination agreement when we agree to let a customer out of a deal.  We
(Product Control) should be notified immediately if someone is requesting to
change an EOL deal.  You can call either myself, Jennifer Denny (x35824),
Frank Davis (x37235), or Dale Neuner (39746).

Call me if you have any questions.

Sheri
x36557


-----Original Message-----
From: 	"Jean-Pierre St-Cyr" <jstcyr@fimat.com>@ENRON
Sent:	Friday, October 26, 2001 9:13 AM
To:	Glover, Sheila
Subject:	Fimat - Account opening documentation

Attached is the account opening documentation in order to open an account
at Fimat Derivatives Canada Inc.

(See attached file: KITANGLAIS.DOC)

Please have this documentation completed and signed by authorized people at
Enron.

In order to open the account today, you could fax to my attention only the
signed pages and thereafter send the whole package by courrier to my
attention.

For any questions on these papers, you or your legal department can contact
me directly via e-mail or phone.

Regards,

Jean-Pierre St-Cyr
Vice-pr?sident, Audit et Affaires juridiques / Vice-President, Audit and
Legal
Fimat Produits D?riv?s Canada Inc. / Fimat Derivatives Canada Inc.
T?l?p./Phone:?514-841-6208
T?l?c./Fax:514-841-6217
 - KITANGLAIS.DOC


We tentatively have a conference call meeting set up in EB3567 with Texas Independent Energy (Byron Gannaway and Phillip Schnorbach) and representaives for CC Pace on Monday at 10 AM regarding the release of Enron from the guaranty and the assignment to AEP of the Guadelupe Power Partners gas supply agreement .  Byron Gannaway is currently lining up the folks on his side.  Our alternative date, if Monday cannot work, is Tuesday at 10 AM.  Per Janet Wallis, Byron Gannaway and TIE is totally on board with the assignment and release and the only thing outstanding is for CC Pace to provide their consent.  Thus the primary purpose of the meeting is to answer any and all questions that CC Pace may have and to work out a deadline for their consent.  Please let Lisa Lunz know ASAP if you cannot attend either Monday or Tuesday at 10AM.

Thanks

Jim Coffey, Senior Director
Enron America - Texas Gas Origination
Phone: (713)853-5346
Fax: (713)646-3084
e-mail:j.coffey@enron.com


[IMAGE] 	[IMAGE] [IMAGE] [IMAGE]

[IMAGE]
[IMAGE]
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Please review the attached.

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490

----- Forwarded by Debra Perlingiere/HOU/ECT on 06/11/2001 05:13 PM -----

	Georgia Blanchard/ENRON@enronXgate
	06/05/2001 03:13 PM

		 To: Debra Perlingiere/HOU/ECT@ECT
		 cc:
		 Subject: Proposed GISB Between Bridgeline Gas Marketing LLC and ENA Upstream

With regard to the special provisions that you submitted for our review, we
would like to delete paragraph 6 which seems to be applicable to wellhead
production committed under a contract.  I don't believe this is the case with
the gas Bridgeline is purchasing from ENA Upstream.  Also, we would like to
add taping language similar to:  &The Parties agree that each party may
electronically record all telephone conversations between their respective
employees, without any special or further notice, and each party hereby
waives any claim against the validity of any telephonic Transaction (under
laws that may require a writing otherwise) and agrees that such recording(s)
are admissible as evidence in any court or other proceeding for any purpose
relating to any proposed or concluded Transaction or other matter under this
Contract. 8

Please give me a call if we need to discuss these two items in further detail.


Ehud,

I shall send a message to Jeff's secretary today.

Vince

"Ehud I. Ronn" <eronn@mail.utexas.edu> on 09/20/2000 11:12:46 AM
To: rcausey@enron.com, vkamins@enron.com
cc:
Subject: Spring 2001 Conference Participation by Jeffrey K. Skilling

Rick / Vince,

Good morning.

In my 9/14 e-mail, I advised you of the practitioner-industry CEFER (Center
for Energy Finance Education and Research) Conference we are planning for
Spring 2001.  As you know, we would like to invite Jeff Skilling to be the
keynote speaker at the Thur. evening dinner.  The following day's four
topics consist of Risk management, Deregulation, Real options, and
International/globalization.  The majority of invitees would be
(predominantly U. S.-based) energy-industry practitioners, as well as
several academics.

Given lead time issues in these matters, we have reserved hotel rooms in
Austin for Feb. 22, 2001.  Could I ask you to ascertain Jeff Skilling's
availability for that evening?

Thanks,
Ehud Ronn

==============================================
     Ehud I. Ronn
     Professor of Finance and Jack S. Josey Professor in Energy Studies
     Director, Center for Energy Finance Education and Research
     McCombs School of Business
     University of Texas at Austin
     Austin, TX. 78712-1179
     Voice:  (512) 471-5853
      FAX:   (512) 471-5073
      Internet:  eronn@mail.utexas.edu
=================================================


My understanding is that we have been cut for the 1st on HPL's transportation
to 8,000 MMBtu/d.

Therefore, we are reducing our nom for 5/1 and following to 40,800 MMbtu/d.

The redeliveries are as follows:

7,800 from Fuels Cotton Valley
8,000 into PG & E
25,000 to HPL's cartwheel agreement at Carthage

For DEFS' info, we will have 3,720 MMBtu/d available
at the tailgate of Carthage for sale.


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      HOME  | GAS NEWS  | EVENTS  | JOBS  | BUSINESS CENTERS  | DIRECTORIES  | DATA CENTER    MONDAY, NOVEMBER 19, 2001

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NYMEX Hub gas ends up on pre-weekend short covering  NEW YORK, Nov 16 (Reuters) NYMEX Hub gas mostly ended higher Friday despite a sinking cash and mild weekend forecasts, lifted by some short covering ahead of the weekend, industry sources said.      Natural Gas Cash Crashes on Low Demand, Oversupply of Gas  Nov. 16 (Btu's Daily Gas Wire) The natural gas spot market plunged by 30 to 40 cents throughout much of the country as rather low weekend demand, combined with mild weather throughout much of the U.S. and Canada and ample gas supplies sent weekend deals spiraling lower, said traders. Special Offer from this Publisher!       Drilling/Exploration      Supreme Court Deals Setback to Energy-Drilling Plan in Montana  By Bill McAllister, The Denver Post, Nov. 15 The U.S. Supreme Court dealt the Bush administration a setback in its plan to open more public lands in the Rocky Mountain West to oil and gas exploration.      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Special Offer from this Publisher!       Pipelines      Energy firms re-group on Alaska natgas pipeline  WASHINGTON, Nov 15 (Reuters) - Major gas transmission companies have agreed to reconstitute a partnership to carry natural gas from Alaska to markets in Canada and the lower 48 U.S. states, Alaskan Sen. Frank Murkowski announced on Thursday.      NEW AUSTRALIAN PIPELINE SET TO DELIVER GAS IN LATE 2003   PERTH, Nov 16, 2001 (AsiaPulse via COMTEX) -- Origin Energy managing director Grant King said today that Australia's SEA gas pipeline between Victoria and Adelaide was on time and on budget, and would deliver gas in late 2003.      EU study of Caspian area oil, gas pipelines compares routes, costs  Nov 17 - Oil & Gas Journal Under auspices of the European Union, two studies of pipeline transportation out of Caspian Sea producing areas have concluded that such systems are technically, economically, and environmentally feasible but depend critically on route selection.      Comprehensive Rules Unlikely for Rural Pipelines  Nov 18, 2001 - Cox News Service Dennis Holubec raises cotton and cows on 3,500 acres in the West Texas oil patch. Drought and low commodity prices have forced him to shave costs, so he's been installing underground pipes and hoses that deliver irrigation water to the roots of cotton plants, eliminating evaporation losses from traditional sprinkling.      Rates    For more information on rate tariffs visit Gas Rate Tariffs   [IMAGE]    New Jersey Natural Gas Expects 12-Percent Decrease in Rate for Customers  By David P. Willis, Asbury Park Press, N.J., Nov. 16 New Jersey Natural Gas Co. customers will see rates drop 12 percent by Jan. 1 as the company takes advantage of a drop in wholesale natural gas prices, a spokeswoman said yesterday.      Lexington Reduces Its Gas Rates Again; The Reduction Could Mean A $10 Saving In December's Bills.  Nov 15 - Greensboro News Record The City Council has lowered its natural gas rate, which will mean homeowners will be paying less to heat their houses this month.      Rigs      Baker Hughes-U.S. rig count down 17, Canada down 2  NEW YORK, Nov 16 (Reuters) The number of rigs searching for oil and gas in the United States fell by 17 to 993 during the week ending Nov. 16, according to oil services firm Baker Hughes.      General      Energy Price Drop of 6.3 Percent in October Affects Other Parts of Economy  By L.M. Sixel, Houston Chronicle, Nov. 17 Energy prices fell 6.3 percent during October, the biggest drop in 15 years, which pushed overall consumer prices down 0.3 of a percentage point, the U.S. Bureau of Labor Statistics reported Friday.      Energy plug: The majors' shift to natural gas  Nov 15 - Monthly Energy Review Interest in natural gas has risen in recent years, stimulated by environmental concerns, price volatility, and deregulation of natural gas markets, and major U.S. energy companies have made it an increasingly important investment focus.      Lawmakers seek to close public utility records  Nov 15 - Florida Times Union When the Times-Union requested public records from the JEA this summer, it found an eye-opening story: Some homeowners had used millions of gallons of water to maintain their lawns while Jacksonville suffered from a drought.      Trading/Marketing      RWE's Trading unit to also trade energy in London   ESSEN, Germany, Nov 16, 2001 (AFX-UK via COMTEX) -- RWE AG said its Trading unit will trade energy in London in addition to oil, gas and coal.      Deals/Contracts      Natural Gas Contracts Are Beneficial To Companies: Pemex   MEXICO CITY, Nov 15, 2001 (Reforma/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Pemex Gas and Basic Petrochemicals Director Marcos Ramirez Silva said the company has no intention of canceling its contracts with industrial gas consumers to supply them with natural gas for three years at the fixed price of 4 dollars per million BTUs, reported Mexico City daily Reforma.      Legal      Energy Seller Plans to Buy Back Stock in Trading Operation Despite Lawsuits  By Steve Everly, The Kansas City Star, Mo., Nov. 16 UtiliCorp United Inc. is facing 10 lawsuits over its plans to reacquire all stock in Aquila Inc., but a top UtiliCorp executive said Thursday that the company was hearing little opposition and had no plans to change its offer.      Large pension funds weigh legal options over Enron  By Martha Slud, NEW YORK, Nov 16 (Reuters) Some big pension funds that invested in Enron Corp. said on Friday they are considering legal options in the wake of the energy giant's stock collapse and a regulatory probe of its dealings.      Wisconsin Agency's Counsel Comes Under Fire for Excluding Non-Lawyers  By Lee Hawkins Jr., Milwaukee Journal Sentinel, Nov. 16 State Senator Rod Moen and several business and consumer groups blasted the Public Service Commission's lawyer Monday for a legal opinion that non-lawyers should not be allowed to participate in rate cases and other formal agency proceedings.      People      Executive of Pittsburgh-Area Electricity Supplier Transfers Back to Virginia  By Frank Reeves, Pittsburgh Post-Gazette, Nov. 15 Dominion Resources Inc. said it planned to eliminate 19 -- or nearly a quarter -- of its senior managers by year's end and will transfer its top local manager back to its Richmond, Va., headquarters.      President of Western Resources Subsidiary in Kansas to Retire  The Wichita Eagle, Kan., Nov. 15 The president of KGE announced his retirement Wednesday, the same day that executives of Western Resources unveiled plans to merge KPL and KGE under a new name, Westar Energy.      Cal-PERS Will Block Old Enron Board from Joining New One  Nov. 18 (California Energy Markets) The California Public Employees Retirement System, which owns three million shares of the battered giant Enron, announced at the end of a closed-door meeting it will oppose the appointment of current Enron board members to the merged Enron-Dynegy company board. Special Offer from this Publisher!       Labor/Human Resources      Belgian Gas And Electricity Unions Accept Electrabel Offer  Nov 17, 2001 - FT World Media Abstracts via Comtex Belgian gas and electricity sector unions, respectively FEG and CGSLB, have accepted the terms of a protocol agreement on the status of employees at Electrabel.      Financial      Gazprom May Receive $200M Credit From Western Banks   Moscow, Russia, Nov 16, 2001 (RosBusinessConsulting via COMTEX) -- The Russian gas giant Gazprom has signed an agreement with a group of western banks about a long-term credit worth $200 million for five years.      Enron plans to sell off losing assets  Nov 16 - Tulsa World Enron Corp., the once-mighty energy trader, is dumping money-losing assets and focusing on its core wholesale power marketing business as it moves toward a merger with rival Dynegy Inc.      Financial - Results      The Times: Bg Given A Lift by High UK Gas Price  Nov 16, 2001 - FT World Media Abstracts via Comtex BG increased its operating profits for the third quarter by 20% to GBP202m, due primarily to a 22% rise in gas prices.      Energy firms buck the trend  Nov 16 - The Guardian Two leading British energy groups, BG and International Power, yesterday brushed aside sliding oil and power prices as they delivered higher profits and forecast earnings growth.      International      Eni sees growth through takeovers, exploration  MILAN, Nov 17 (Reuters) Italian oil and gas group Eni wants to expand its way into the heavyweight league by buying more companies and increasing its exploration activity, top managers were quoted as saying on Saturday.      Ukraine Approves Russian Gas Debt Deal   Moscow, Russia, Nov 16, 2001 (RosBusinessConsulting via COMTEX) -- Ukraine's parliament ratified on Thursday key agreements between Kiev and Moscow on restructuring debts for Russian natural gas supplies, opening the way for the government to start the repayments.      Gaz de France to Invest US$500mn in Gas Transport   Mexico, Nov 16, 2001 (BNamericas.com via COMTEX) -- France's state gas company Gaz de France will invest US$500mn in Mexico in the next five years in projects related to gas transportation, the company's president of Mexican operations Gerard Mallett said, newspaper El Economista reported.      Energy Dept, Mexico State Sign Gas Accord   Mexico, Nov 16, 2001 (BNamericas.com via COMTEX) -- Mexico's federal Energy Department head Ernesto Martens Rebolledo has signed a coordination agreement with Mexico state governor Arturo Montiel Rojas on the distribution, transport and storage of natural gas in Mexico state.      Private Industry Holds Back On Energy Investments   MEXICO CITY, Nov 16, 2001 (El Universal/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Private industry held back 15.683 billion pesos of investment in the Mexican energy sector this year, despite having agreed with Petroleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE) to make these investments, reported Mexico City daily el Universal.      French Government to Privatise Gas Transport Infrastructure  Nov 15, 2001 - FT World Media Abstracts via Comtex Having privatised the motorways, the French government is now turning its gaze to France's gas transport infrastructure.      Vattenfall Interested in Co-Operation with German Gas Supplier Vng  Nov 16, 2001 - FT World Media Abstracts via Comtex Verbundnetz Gas AG, Germany's second-largest gas supplier, would be affected if the conglomerate E.ON AG were to succeed in acquiring a majority stake in Ruhrgas, the country's largest gas supplier, as it is thought that Ruhrgas would have to reduce its stake in VNG from the current 36.84 per cent.      Half a billion dollars to be spent on upgrading Kazakh gas system  Nov 15 - BBC Monitoring Central Asia The Oil and Gas Transportation [OGT] company [Transport Nefti i Gaza] company has drawn up a programme whereby approximately 500m dollars will be invested in the development of the country's gas transportation system by 2005, OGT first deputy general director, Kairgeldy Kabyldin, told journalists in Almaty today.      Distribution/LDCs      CRE To Begin Tenders Of Gas Distribution In 2002   MEXICO CITY, Nov 16, 2001 (Reforma/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Beginning next year, the Energy Regulation Commission (CRE) will begin the second stage of tenders for natural gas distribution zones, reported Mexico City daily Reforma.      Fpl Expands Natural Gas Service  Nov 17 - Palm Beach Post FPL Energy Services, a subsidiary of Juno Beach-based FPL Group, has expanded natural gas service to businesses throughout Florida.        If you are an Energy Central News Subscriber and you have checked any news articles above, selecting the 'Get Articles' button below will deliver all of the checked articles in one page. This is a convenient way to get exactly the news you need - quickly!           NEED INFORMATION ON THE POWER INDUSTRY? ENERGY CENTRAL'S GOT IT!    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---------------------- Forwarded by John J Lavorato/Corp/Enron on 12/29/2000
12:29 PM ---------------------------

	From:  Vladimir Gorny @ ECT                           12/28/2000 05:46 PM

To: Ted Murphy/HOU/ECT@ECT,  Yahoo Mail, Cassandra Schultz/NA/Enron@Enron,
David Port/Market Risk/Corp/Enron@ENRON, Minal Dalia/HOU/EES@EES, Andy
Knight/Corp/Enron@ENRON, Darin Schmidt/NA/Enron@ENRON
cc:  (bcc: John J Lavorato/Corp/Enron)

Subject: EES Pre-holiday Update

Regulatory:

Based on the on-going CA PUC hearings and opinions of Enron legal and
regulatory groups, it seems that the Commission is likely to increase tariff
rates by anywhere from 10 to 20% (PG&E and SCE are arguing for a 30% increase
- not realistic). The critical decision is to leave EES direct-access
customers on that tariff. Alternatively, if the PUC rules to end the rate
freeze, eliminates the existing CTC credits and does not allow EES customers
to switch to this tariff, we stand to lose somewhere between $600-650
million, as EES would have to serve their customer loads by buying expensive
CA power during 2001.

A 10% increase in tariff rates results in ~$50 million loss for EES. However,
if the tariff is extended beyond 2001, it will create additional value for
EES (the tariff is lower than Cal-02 power prices).

CA Gov. Davis met with Clinton yesterday where they have decided to extend
the emergency status in the state.

Ken Lay is scheduled to meet with Davis today to address the following topics:
 - clarify any inaccurate information about Enron's role in CA markets
 - urge the Governor to not go overboard with this situation and give the
"world" to the CA utilities
 - remind about the upside PG&E and SCE will realize from high valuations of
hydro plants (increased almost three-fold from a year ago)

Hearings and oral arguments will continue this week. CA PUC decision is
expected to come on Jan-4th, followed by multiple appeals.

Credit issues:

 - Enron is attempting to reduce credit exposure with PG&E, whereby PG&E will
assign its out-of-the-money trades with Avista and MS to EPMI and    EES will
assign its in-the-money positions with PG&E to EPMI, creating an off-set.
These assignments will reduce PG&E exposure by ~$265 MM,    in exchange for
Avista and MS exposures.
 - PUC is not likely to rule removal of retail tariff retroactively (to May
99) - this will enforce EES position in collecting its accounts receivable
from    PG&E of ~$150 MM (so far, they have not paid Enron on the premise of
retroactive ruling).

Market Risk:

12/27 VaR is $7.8 MM - limit violation. An increase of $0.5 MM because of:
 - addition of long Feb-01 positions at MidC
 - overall increase in prices
 - incorrectly booked trades at PJM (50 MWs Cal-03 Long instead of a Short)

My suggestion, at a high level, to Don Black and Dennis Benevides to sell MWs
in both East and West in order to reduce VaR. However, because of the
holidays the liquidity in the market is very scarce.

Vlady.


The signed aff. is on its way back to you.

	"Kathy D. Patrick" <Kpatrick@Gibbs-Bruns.com>
	08/11/2000 09:57 AM

		 To: "'richard.b.sanders@enron.com'" <richard.b.sanders@enron.com>
		 cc:
		 Subject: Barth Affidavit

Richard:

Enclosed is a draft of the Affidavit that I believe conforms to what we
discussed with Brian this morning.  Please let me know if there is anything
that is not correct.  If it is fine, please have Brian sign it and have his
signature notarized.  I will then send a messenger to pick up the final,
signed affidavit.

Thanks,

Kathy Patrick

 <<1yb801!.WPD>>

 - 1yb801!.WPD


Thanks very much, Jeanne.


She does seem pretty impressed that she's effectively the first person we've
told.  I think she feels priviledged.

Gabriel Monroy
02/16/2001 02:40 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Re: UnHappy Hour

I got you now.  Was she surprised that we keot it a secret for so long?


Fifty dollars.


Hey Greg,

I mostly used the review course books.  You are welcome to borrow them if you
like.  Otherwise, I am sure that either Kaplan or Princeton Review has some
good books.  Check the AIMR website.

-Eric

	Enron North America Corp.

	From:  Greg Martin                           01/23/2001 12:37 PM

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: CFA

Bass,

Long time, no talk.  How's it going?  Hope the market is treating you well!

I have a question for you.  I am looking to take the CFA Level I test this
summer.  I missed out on a review course I wanted to take.  I remember you
said that you were taking the CFA, and I noticed you had a particular book
you were studying.  I just wanted to see if you would recommend the book you
studied.  If so, who produced it.

I saw Kaplan produces one, but I am not sure if it is any good.

I would really appreciate it.

Late,
GM


Julie,

Can you please make sure John receives these passwords?

Ina
---------------------- Forwarded by Ina Rangel/HOU/ECT on 01/19/2001 09:13 AM
---------------------------

John Griffith@ENRON
01/19/2001 09:09 AM
To: Ina Rangel/HOU/ECT@ECT
cc:
Subject:

Have you heard anything on my login and password for Bridge/Telerate?  Thanks.

John


Daily Market Commentary October 22, 2001

TRADE BUYING SETS OFF STOPS . . .

 Natural gas futures scored triple digit gains in active trading Monday on the New York Mercantile Exchange. The last three sessions have left many traders unable to reconcile the huge price advance with the poor underlying fundamentals. After early selling interest subsided, concerted buys by
major trade and commercial houses triggered stop loss buying and prices surged to finish the day at session highs. Short term traders see a conditional price advance tomorrow. . .

 At the end of the day the November contract roared ahead $.126 to $2.807
and the December tacked on $.097 to $3.087 . . .

 "Trade and commercials were early sellers between $2.75 and $2.68, but
Salomon Smith Barney, Paribas, and (E.D.&F.) Man all bought at $2.65, and when prices broke above $2.75 there was aggressive short covering and that
took prices to $2.80 almost right away," said a New York floor trader. . .

 "A lot of traders are saying they can't believe the market (given the fundamentals)," he said. . .

 "If the market opens tomorrow at or above $2.75, it will probably gap higher," he predicted. . .

For the most complete information available subscribe to GasTrader at http://gastrader.net

Bill Burson
120 Summit Blvd.
Englewood, Colorado 80110
Tel (303) 761-7470 * Fax (303) 761-8662
(To be removed from this list send email to burson@gastrader.net)


Enron Methanol Company nominates the following requirements for the Methanol
Plant for January 2000:

35,000 mmbtu per day

EGPFC nominates the following requirements for the MTBE Plant at Morgan's
Point for January 2000:

2,000 mmbtu per day from 01/01/00 through 01/04/00
5,000 mmbtu per day from 01/05/00 through 01/08/00
8,500 mmbtu per day from 01/09/00 through 01/31/00


gary, mary, steve,
please prepare a presentation that could be given to the high level people
trying to solve the california problem.
I would like to see an aggressive solution that shows that we have a more
expansive view of how to solve the problem with DSM than ever before thought
of.
I know you have a good start on that, but I would now like you to:

continue to refine the idea (refine might be expand and add implementation
details)
contact steve kean and jeff dasovich for feedback and further refinement
schedule meetings to start reviewing our view and listening to their view
refine again
imlement, implement, implement

Please send me the most current vision and a copy of the implementation
timeline by next Wednesday.
Thanks
---------------------- Forwarded by Marty Sunde/HOU/EES on 12/21/2000 06:43
AM ---------------------------

Wanda Curry
12/20/2000 04:11 PM

To: Marty Sunde/HOU/EES@EES
cc:
Subject: Summary of Western Gov's Energy Summit

Notice the first two bullets below.

Wanda
---------------------- Forwarded by Wanda Curry/HOU/EES on 12/20/2000 04:11
PM ---------------------------
From: Jeff Dasovich@ENRON on 12/20/2000 02:59 PM
Sent by: Jeff Dasovich@ENRON
To: Wanda Curry/HOU/EES@EES, skean@enron.com, Richard Shapiro/NA/Enron@Enron,
James D Steffes/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Sandra
McCubbin/NA/Enron@Enron, Dennis Benevides/HOU/EES@EES, Roger
Yang/SFO/EES@EES, Scott Stoness/HOU/EES@EES, Tim Belden/HOU/ECT@ECT, Robert
Badeer/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Chris H
Foster/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Harry
Kingerski/NA/Enron@Enron, Jennifer Rudolph/HOU/EES@EES, Michelle D
Cisneros/HOU/ECT@ECT, Kathryn Corbally/Corp/Enron@ENRON, Alan
Comnes/PDX/ECT@ECT
cc:
Subject: Summary of Western Gov's Energy Summit

Paul Kaufman phoned with the following brief report from the Western
Governor's Association  "Energy Summit" that took place today.  Paul will
follow up with more detail when he gets back to a computer. The governors
issued the following recommendations:

California should immediately implement FERC's order issued last Friday and
aggressively pursue all available DSM and conservation opportunties.
The Western region should likewise be much more aggressive in identifying and
implementing DSM and efficiency opportunities.
Increase supply as soon as possible.
FERC should do an investigation into the potentially negative effects that
price caps can cause in the industry.
FERC should add to its investigations an investigation into what caused the
price spikes in the first week of December.
Work with the Bush transition team to make sure that someone from the new
administration is focused on the issue.

Hoecker said that he is not inclined to impose a region-wide cap until
California takes the actions it needs to take to help alleviate the situation
(e.g., reforming regs governing utility forward contracts).

Jeff


Ben:

I received your message and look forward to seeing the presentation.
My email address is thz@compuserve.com.

Thanks
Tom Zenner