fyi- buddy
---------------------- Forwarded by Victor Lamadrid/HOU/ECT on 01/10/2000
03:04 PM ---------------------------

	From:  Joann Collins @ ENRON                           01/10/2000 02:36 PM

To: Joan Veselack/Corp/Enron@ENRON
cc: Robert Allwein/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT
Subject: CGV and CPA

joni, due to the fact that heidi in herndon had the Union Camp volumes on the
CES spreadsheet i will have to take the broadrun gas to the pool effective
1/11-31.  i will also have to do a retro for 1/5-10.

---------------------- Forwarded by Joann Collins/Corp/Enron on 01/10/2000
02:31 PM ---------------------------

hboyd@columbiaenergygroup.com on 01/10/2000 02:15:16 PM
To: Joann Collins/Corp/Enron@ENRON
cc:

Subject: CGV and CPA

BOTH ARE INTRADAYS - beginning 1/10

Hey Joann

CGV  Op 1 30CS-34    179/day   1/1 - 1/31

CPA Choice/Residential/Commercial Originally this volume came on 65042
if you can, please bring it back up on

K# 65042  CPA 4-25   4332/day  1/1 - 1/31

Please let me know as soon as you do about the contract for CPA 4-25.

Omigosh!!    THANK YOU Joann!


713/646-3490

	Jorge A Garcia@ENRON
	10/23/2000 08:30 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: Merrill Lynch Confirmation

What is your fax number?

From: Sara Shackleton@ECT on 10/23/2000 08:24 AM
To: Jorge A Garcia/NA/Enron@ENRON
cc:

Subject: Re: Merrill Lynch Confirmation

Please fax the ORIGINAL confirm.  Thanks.  SS

	Jorge A Garcia@ENRON
	10/20/2000 02:17 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Merrill Lynch Confirmation

Good Afternoon Sara,

Here is the original confirmation created for the FX trade that took place on
9/26/00. The comments provided by Merrill are as follows:

1) The want to reflect "Merrill Lynch Capital Services, Inc., New
York"(MLCSNY) rather than "Merrill Lynch International Bank" (MLIB).

2) They want to reference the Master Agreement dated 12/2/92 rather than
7/1/95

3) They want to change the wire instructions to correspond with Merrill Lynch
Capital Services, Inc., New York.

They penciled in there comments and returned the comments via fax.

The questions are as follows:

1) Is this acceptable?

2) If so, should we just countersign on the version wherein they made their
corrections and return to them?

3) If not, should we recreate a new confirm with the requested changes?

4) Going forward if there is a Merrill Lynch London trade, should we be using
MLCSNY or MLIB?

We have historically only booked Interest Rate Swaps with MLCSNY until now.

Looking forward to your response.

Have a great weekend!

Regards,

Jorge


Perfect image!  How did you loose him?


WILLIAMS, JASON C,

You have been selected to participate in the Mid Year 2001 Performance Management process.  Your feedback plays an important role in the process, and your participation is critical to the success of Enron's Performance Management goals.

To complete a request for feedback, access PEP at http://pep.enron.com and select Complete Feedback from the Main Menu.  You may begin providing feedback immediately and are requested to have all feedback forms completed by Friday, May 25, 2001.

If you have any questions regarding PEP or your responsibility in the process, please contact the PEP Help Desk at:
Houston:  1.713.853.4777, Option 4 or email: perfmgmt@enron.com
London:  44.207.783.4040, Option 4 or email: pep.enquiries@enron.com

Thank you for your participation in this important process.

The following is a CUMULATIVE list of employee feedback requests with a status of "OPEN."  Once you have submitted or declined an employee's request for feedback, their name will no longer appear on this list.  NOTE: YOU WILL RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.

Employee Name:
DEMPSEY, DALTON
GUGGENHEIM, VICTOR
LENART, KIRK
MUZZY, CHARLES
PENDERGRASS, CORA
RYDER, JAMES
STRAIGHT, MARGIE
TOMASKI, RICHARD


Ted,

Howdy from Houston.  I didn't see the article but please fax me a copy of the
piece if you have one.  Fax# is 713 853 1922.

I will make myself available after class to meet with whoever you want me to
meet with.  Sorry I cant stay for the meeting, i really wanted to.

I will need a student to take me to the airport on Friday morning but don't
need one on Thursday.

Do you want me to have breakfast or meet with the new dean?

Thanks and see you soon.

Mike


Gentlemen:

There was a discussion at the Executive Committee meeting last week
regarding a bylaw change.  Eliminate existing Bylaw 9 and change it to read
that "Members will retain Graduate status for only as long a period as they
held Active membership or until normal council retirement at age 72,
whichever occurs first."

The following members would be immediately affected by the proposed change
and would leave the council:  Sam Armacost, Percy Barnevik, Art Blank,
Michael Bonsignore, Ed Budd, Ed Carpenter, David Coulter, Walter Forbes, Jim
Johnson, Tim Koogle, Jack Krol, Paul Lego, Jan Leschly, Dick McCormick,
Eckhard Pfeiffer, Rick Scott, Pete Silas, Jeff Skilling, Bob Stempel, Rick
Thoman, John Walter, Dennis Weatherstone and Bob Winters.

The mandatory retirement provision affects an additional 49 members.  In
summary, we currently have 115 Active members and would be reducing the
Graduate members from 149 to 77.  Frankly, a more dramatic change than I
thought.  Any thoughts?

Phil


Thanks for meeting this morning and developing a plan that that will accommodate the needs of the different groups within ETS.  As we begin to use Adaytum I believe we will see other areas where it will benefit ETS and EGS as well as opportunities for enhancements within our existing models.

Thanks again.

    Lee Baker
    Manager Financial Planning
    ETS Operations Financial Planning
    (713) 853-5292

 -----Original Message-----
From: 	Vo, Hoang
Sent:	Monday, October 15, 2001 2:36 PM
To:	Geaccone, Tracy
Cc:	'Fali@adaytum.com'; Baker, Lee
Subject:	ETS resource requirements

Tracy,

I spoke with Fred and we have a resource available to assists with the remaining ETS modeling and development.  Dymetrix can be here this Wednesday and will be dedicated to ETS through the end of the year.  He will be responsible for the completion of the O&M model for home office.  He will also be responsible for the Marketing initiative.

I spoke to Ben Humann about Omaha's resource needs.  They will require a resource for two weeks starting November 12th to implement the O&M contributor model.  If they should decide to move forward with development of a full financial system, they will require an additional six weeks of time at a minimum.  We will scope their financial system requirements during the initial two weeks to better determine what the actual recourse requirements will be.

As we discussed this morning I will be dedicated to ETS through the end of January.  I will address the remain issues with Operations.  I address data transfer issues between Adaytum and the Data Warehouse.  I will assist with and manage all of the above initiatives.

Please feel free to contact me if you have and questions or concerns.

Thanks
Hoang Vo


Just a reminder about tomorrow's meeting at the Houston Four Seasons Downtown
Hotel from 1:00 to 3:00PM with John Somerhalder and others.   The meeting
room has been changed to The Travis Room.

The dress attire for this meeting will be business casual.

Thanks,
Cindy
X36197


---------------------- Forwarded by Eric Bass/HOU/ECT on 11/17/2000 09:59 AM
---------------------------

Brian Hoskins@ENRON COMMUNICATIONS
11/17/2000 09:35 AM
To: Eric Bass/HOU/ECT@ECT, Hector Campos/HOU/ECT@ECT, Lenine
Jeganathan/HOU/ECT@ECT, John House/HOU/ECT@ECT
cc:
Subject: New Gore Campaign Sign

Brian T. Hoskins
Enron Broadband Services
713-853-0380 (office)
713-412-3667 (mobile)
713-646-5745 (fax)
Brian_Hoskins@enron.net

----- Forwarded by Brian Hoskins/Enron Communications on 11/17/00 09:43 AM
-----

	Milson Mundim
	11/17/00 09:05 AM

		 To: Brian Hoskins/Enron Communications@Enron Communications
		 cc:
		 Subject: New Gore Campaign Sign

----- Forwarded by Milson Mundim/Enron Communications on 11/17/00 09:11 AM
-----

	Brian Blakely
	11/16/00 04:45 PM

		 To:
		 cc: (bcc: Milson Mundim/Enron Communications)
		 Subject: New Gore Campaign Sign

Brian C. Blakely
Enron Broadband Services
Transaction Development & Structuring
e-mail:  brian_blakely@enron.net
Phone:  713-853-1433
Mobile:  713-516-0622
Pager:  877-638-1546


are you guys still in for dinner tonight.......6:30 at our place!    give me
a call @ worrk 713-853-6203


Hi Andy

I was hoping when you get a chance, you could give me an update on where
things were left at the recent meeting in DC and where we are going from
here. Also, are you are anybody else thinking of going to Ontario as they try
to work through creating a Master Power form.


Guess I was lazier still.  Agree with your assessment, I just neglected to
recalc your model in order to determine growth rates necessary to get cash
flows high enough to justify $14 and $28.  31% and 40% growth rates are (I
would argue) wildly unrealistic.  In addition, the capex numbers would
(presumably) have to bump up substantially in order to get you there.
Therefore, I would argue in the memo that the numbers don't add up for a $28
price (though "irrational exuberance" may permit Netscape to pull it off).
Unless other folks have comments on the model, I think you're good to go for
the memo.  Am ready to look at it when you've got a draft.  Great job on the
case.  Thanks.

Best,
Jeff

	JcjCal02@aol.com
	04/14/2001 11:16 PM

		 To: Jeff.Dasovich@enron.com, JcjCal02@aol.com
		 cc: dwindham@uclink4.berkeley.edu, guinney@haas.berkeley.edu,
JCJA@chevron.com, jjackson@haas.berkeley.edu, Mark_Guinney@watsonwyatt.com
		 Subject: Re: Netscape

Jeff,
You're obviously right about discounting cash flow.  I was getting a little
lazy.  The capital exp in Exhibit 3 in the book is close to what you have in
the model.  I agree about your working capital assumption.  I guess I'm not
clear on your conclusion. The $3+ you calculated a share is based on 16%
growth.  We are being asked to calculate what growth justifies $28/share.  I
calculate 31% growth for $14/share and about 40% growth for $28 per share.
Reality is their immediate growth is probably going to be higher than both
numbers but would not be sustainable for 10 years.

Anyway while we bat this around, I've begun putting some bullshit into the
memo.  I guess I vote we double the price.  The other IPO in Exhibit 6
(especially Uunet) demonstrate how hot the high tech IPO market is.  IPOs are
a lot about emotion and maybe a little about cash flow.  What's the down side
if the offering doesn't sell well.  Netscape has a very hot business they
should extract a high price for the potential gold mind they offer (this is
my 1999 thinking, not 2000).  Comments?

Jimmy


Stop it.  You're scaring me!!

	Eric Gillaspie
	07/27/2000 04:27 PM

		 To: jennifer-gillaspie@reliantenergy.com@ENRON
		 cc: matt.gillaspie@brentonbank.com, Gerald Nemec/HOU/ECT@ECT
		 Subject: RE: Concord goes down.

Heinifer,

A few corrections:  Jeff and Cathy call each other "boo" not "pooh".
Secondly, with your threats of my arse being kicked, I must say that violence
solves nothing, but if you wanna dance tonight, bring it on.  Third, it is
not a "supposed" conference call just because you didn't plan it or have the
idea, IT IS A GO!  Fourthly, & oh yes Fourthly is a word, anyone who wants to
can "present"  their ideas & suggestions  (or demands if your a Nazi) on the
conference call.

Lastly,
I can't wait to get drunk in a foreign country with all of you.

Eric Gillaspie
713-345-7667
Enron Building 3886

	jennifer-gillaspie@reliantenergy.com
	07/27/2000 04:14 PM

		 To: Eric.Gillaspie@enron.com, matt.gillaspie@brentonbank.com,
gerald.nemec@enron.com
		 cc:
		 Subject: RE: Concord goes down.

It's all fun and games until someone gets their butt kicked. I think you
are mistaken me for Cathy. She's the only one I know with the name pooh
bear.

By the way, on this supposed conference call, who all is presenting
information?

Eric.Gillaspie@enron.com on 07/27/2000 04:08:02 PM

To:   jennifer-gillaspie@reliantenergy.com
cc:   matt.gillaspie@brentonbank.com, Gerald.Nemec@enron.com

Subject:  RE: Concord goes down.

Honey, come on................. it's a line from the Blues Brothers
movie....................... it just jokes pooh bear!

Matt you shall pay for your insubordination!  I know you and it was not an
oversight or a mistake!

Eric Gillaspie
713-345-7667
Enron Building 3886

                    jennifer-gillaspie@reliant
                    energy.com                        To:     Matt
Gillaspie <matt.gillaspie@brentonbank.com>,

Eric.Gillaspie@enron.com, gerald.nemec@enron.com
                    07/27/2000 04:01 PM               cc:
                                                      Subject:     RE:
Concord goes down.

It'll be too cold and I'll complain about being cold the whole time. Plus,
it's not as interesting as Spain. Matt, you could wear cute little
bullfighter pants, with knee-high white socks and a sexy beret atop your
noggin. The hot-blooded, salsa-dancin', dark skinned, beautiful spanish
maidens will be falling all over you. You don't want frompy, belching,
stinky armpit German women chasing you around, do you? Or, do you?

Eric, to your little Illinois/Nazis comment below that you didn't copy me
on, well...You suck! And you'll pay later for that, dear.

Matt Gillaspie <matt.gillaspie@brentonbank.com> on 07/27/2000 03:44:32 PM

To:   Eric Gillaspie <Eric.Gillaspie@enron.com>
cc:   "Jennifer Gillaspie (E-mail)" <jennifer-gillaspie@reliantenergy.com>

Subject:  RE: Concord goes down.

What's the problem with Germans?  I tend to like them . . . very strong
and verile people.  A handsome people.  Plus, they love to drink beer.
AND, I would like to wear some of those little shorts that have
suspenders attached with cute little buttons and dance a little jig with
a big stein in my hand.  What is wrong with that?

> -----Original Message-----
> From:   Eric Gillaspie [SMTP:Eric.Gillaspie@enron.com]
> Sent:   Thursday, July 27, 2000 3:39 PM
> To:     matt.gillaspie@brentonbank.com
> Subject:     RE: Concord goes down.
>
>
>
> Did you two know that Jenn was born in
> Illinois..............................I
> freaking hate Illinois NAZIS'
>
> Eric Gillaspie
> 713-345-7667
> Enron Building 3886
>
>
> |--------+------------------------------------>
> |        |          jennifer-gillaspie@reliant|
> |        |          energy.com                |
> |        |                                    |
> |        |          07/27/2000 03:29 PM       |
> |        |                                    |
> |--------+------------------------------------>
>
> >---------------------------------------------------------------------
> --|
>   |
> |
>   |       To:     "Eric Gillaspie" <Eric.Gillaspie@enron.com>,
> |
>   |       matt.gillaspie@brentonbank.com, gerald.nemec@enron.com
> |
>   |       cc:
> |
>   |       Subject:     RE: Concord goes down.
> |
>
> >---------------------------------------------------------------------
> --|
>
>
>
>
>
> Just to let you all know where I stand... I'm not interested in
> Germany
> (even though it's my motherland).
>
>
>
>
>
> "Eric Gillaspie" <Eric.Gillaspie@enron.com> on 07/27/2000 02:04:50 PM
>
> To:   Matt Gillaspie <matt.gillaspie@brentonbank.com>
> cc:   "Gerald Nemec" <Gerald.Nemec@enron.com>,
>       jennifer-gillaspie@reliantenergy.com
>
> Subject:  RE: Concord goes down.
>
>
>
>
> I don't think you need VISAS for any of the Western European Nations,
> just
> your
> passport, I'll check on that.  I don't think Jenn and I had VISAS when
> we
> went
> to Europe in 1996 (& we went to Wanker island, Frog cental, Latin
> loverland
> and
> Whop central).  August 12th sounds good for the conference call.
>
> Later.
>
> Eric Gillaspie
> 713-345-7667
> Enron Building 3886
>
>
> |--------+-------------------------------->
> |        |          Matt Gillaspie        |
> |        |          <matt.gillaspie@brento|
> |        |          nbank.com>            |
> |        |                                |
> |        |          07/27/2000 01:47 PM   |
> |        |                                |
> |--------+-------------------------------->
>
> >---------------------------------------------------------------------
> --|
>   |
> |
>   |       To:     Eric.Gillaspie@enron.com
> |
>   |       cc:     cattlepig@earthlink.net
> |
>   |       Subject:     RE: Concord goes down.
> |
>
> >---------------------------------------------------------------------
> --|
>
>
>
>
> Yes, a conference call would be good.  I can initiate the long
> distance
> portion from here as I have free long distance on my cell phone so we
> could talk for an extended time period if necessary.  I get home from
> Cali on Friday, August 11th . . . what do you say we plan a call for
> Saturday, August 12th @ 11:00 a.m.  If that works, let G&J know the
> plan
> (we have a plan!) and we can all 'come' to the conference call
> prepared
> with whatever research regarding destination, travel plans,
> accomodations, etc. we want and then duke it out over the phone until
> a
> firm itenerary has been established.
>
> Do you know how much time prior to travel we need to make visa
> arrangements (or are they even necessary any more)?  I think there are
> certain countries now the U.S. has an agreement with to allow citizens
> to pass freely back-and-forth.  ????
>
>
>
> > -----Original Message-----
> > From:   Eric.Gillaspie@enron.com [SMTP:Eric.Gillaspie@enron.com]
> > Sent:   Thursday, July 27, 2000 1:38 PM
> > To:     matt.gillaspie@brentonbank.com
> > Cc:     jennifer-gillaspie@reliantenergy.com; Gerald.Nemec@enron.com
> > Subject:     RE: Concord goes down.
> >
> >
> > The land of chocolate (Germany) would be fine with me as well if we
> > paired
> > it with another country such as France or Italy, but I don't know
> > about G &
> > J on that.  Well I'm torn on when to get airline tickets as air
> travel
> > to
> > Europe this year is probably very heavy, but we are going during an
> > off-peak time and if you wait you can sometimes get sweet deals that
> > they
> > offer in Sept/Oct. but I don't want to wait to long and not get any
> > seats.
> > Whaddaya think?  I day we do a conferece call in a few weeks on a
> > Saturday
> > a the four of us get together and decide where we are going and make
> > some
> > decisions & a timeline.
> >
> > Eric Gillaspie
> > 713-345-7667
> > Enron Building 3886
> >
> >
> >
> >
> >                     Matt Gillaspie
> >
> >                     <matt.gillaspie@brento        To:     Eric
> > Gillaspie <Eric.Gillaspie@enron.com>
> >                     nbank.com>                    cc:
> >
> >                                                   Subject:     RE:
> > Concord goes down.
> >                     07/27/2000 11:31 AM
> >
> >
> >
> >
> >
> >
> >
> >
> >
> > That sounds good to me.  Personally, I like Germany and would be for
> > that if possible.
> > I'm ready to comit . . . if I have my current job it shouldn't be a
> > problem . . . if I have a new job I will just tell them that I had a
> > prior vacation scheduled.  No problem.  Inform me about the next
> step
> > Master.  Buy tickets now?  Give me an assignment and I will follow
> > through with it.
> >
> > G & J still in, too?
> >
> >
> >
> > > -----Original Message-----
> > > From:   Eric Gillaspie [SMTP:Eric.Gillaspie@enron.com]
> > > Sent:   Thursday, July 27, 2000 11:21 AM
> > > To:     matt.gillaspie@brentonbank.com
> > > Cc:     jennifer-gillaspie@reliantenergy.com
> > > Subject:     Concord goes down.
> > >
> > >
> > >
> > > Couzin,
> > >
> > > Your little London Lolita must have turned to a career of
> > > international
> > > espionage, she is hard to get a hold of.
> > >
> > > The dates that we are looking at are the week of Thanksgiving.
> > Depart
> > > for
> > > Europe on the 17th or 18th of November & return to the states
> around
> > > the 25th.
> > > That way we'd only have to burn 3 days of vacation & still get a
> > whole
> > > week of
> > > Europa 2000 madness. We will however miss a glutoness Thanksgiving
> > > celebration
> > > but that's OK with my belly.   I have a place to stay for free in
> > > Germany but I
> > > don't think anyone in our little gulag wants to go hang out with
> the
> > > freakin'
> > > Germans.  Plane tickets are floating around $400 for the the time
> we
> > > want to go
> > > so we should be able to do this at a fairly reasonable cost.
> > >
> > > Bumper Sticker: Save the World...........kill yourself.
> > >
> > > Eric Gillaspie
> > > 713-345-7667
> > > Enron Building 3886
> > > ----- Forwarded by Eric Gillaspie/HOU/ECT on 07/27/2000 11:03 AM
> > -----
> > > |--------+-------------------------------->
> > > |        |          Matt Gillaspie        |
> > > |        |          <matt.gillaspie@brento|
> > > |        |          nbank.com>            |
> > > |        |                                |
> > > |        |          07/27/2000 10:41 AM   |
> > > |        |                                |
> > > |--------+-------------------------------->
> > >
> > >
> >
> >---------------------------------------------------------------------
> > > --|
> > >   |
> > > |
> > >   |       To:     "Eric Gillaspie (E-mail)"
> > <eric.gillaspie@enron.com>
> > > |
> > >   |       cc:
> > > |
> > >   |       Subject:     Concord goes down.
> > > |
> > >
> > >
> >
> >---------------------------------------------------------------------
> > > --|
> > >
> > >
> > >
> > >
> > > Still flying the Concord to Europe?
> > >
> > > Okay - I've been making continuous attempts to reach my little
> > London
> > > bitch -- I've now gotten the phone number (I think) and left a
> > message
> > > on it for her in London and have your Fairfield connection trying
> to
> > > reach her through United Airlines e-mail AS WELL as a pilot for
> > United
> > > that is a cousin of a friend of mine who is doing the same.  No
> > > response
> > > yet.  Are we waiting for this?
> > >
> > > Have there been any revelations about dates, etc.?  My company was
> > > bought by Wells Fargo and we don't know what is happening with our
> > > jobs.
> > >
> > >
> > > It could have possible positive and negative impact:
> > > (a) we may have our jobs until at least 12/31/00 . . . then I
> would
> > > still have vacation time to do whatever I want
> > > (b) I could lose my job 9/30/00 or 12/31/00 or 3/31/01 . . . BUT
> get
> > 5
> > > months paid severence; great for a trip to Europe I would say,
> > > depending
> > > on the timing
> > > (c) I may get another job sooner because of all the "unkown" with
> > this
> > > merger and not have any vacation time now at all
> > >
> > > Here is my schedule so far that I know:
> > >
> > > 8/4-8/11 in California
> > > 9/1-9/4 in Okoboji
> > > 9/22-9/25 in Grand Marais, Minnesota
> > >
> > > October, November, December are still good times for me . . .
> > > depending
> > > on what happens with the merger situation
> > >
> > > What up?
> > >
> > > I've been trying to get ahold of Stundins to do some work at my
> > house
> > > but we keep exchanging voice messages.
> > >
> > >
> >
> >
>
>
>
>
>
>
>
>
>


susan:
I'm going to be out on Friday of this week.  Is there any way that I can get
this today or by early tomorrow?  Alos, please send me an updated Columbia
chart.  Has any progress been made on the agreements that are still
outstanding?
Carol


Hey Jackie,

This is definitely me.  So when did you get here?  And what are you doing?
Things are crazy around here so I'll talk to ya later.

Robin

	Enron North America Corp.

	From:  Jacquelyn Matthews @ ENRON                           06/12/2000 09:23
AM

To: Robin.Rodrigue@enron.com
cc:
Subject: Hi

Hi Robin,

I was wondering if I had the right email address.  Email me back if this is
you.

Thanks,

Jackie
LA Tech Univ


Chris,

Attached is the Baseline Status Document.

Thanks,

annie
 <<BaselineStatus .doc>>


Tom,

Can you send the info regarding SDDP to John?

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/28/2000
10:52 AM ---------------------------

Vince J Kaminski
07/19/2000 06:41 PM
To: "O'Brien John" <jobrien@snowyhydro.com.au> @ ENRON
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: SDDP

John,

I shall E-mail the information about SDDP  from Houston.

Vince

"O'Brien John" <jobrien@snowyhydro.com.au> on 07/18/2000 01:47:41 AM
To: vkamins@enron.com
cc:
Subject: SDDP

Vincent,

You kindly suggested that I email you with regard to some information you
have on the SDDP system (I'm not sure if I've got the abbreviation correct,
but it's something that is currently used in South America).

Your presentation was very interesting and informative.

Kind regards,

John O'Brien
Manager, Treasury & Risk Management
Snowy Hydro Trading Pty Ltd
Level 17, Bligh House
4 Bligh Street
Sydney NSW 2000


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FYI
---------------------- Forwarded by D Brett Hunsucker/HOU/ECT on 11/14/2000
11:22 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  <Steven_T_Sweet@calpx.com>                           11/14/2000 11:19
AM

To: D.Brett.Hunsucker@enron.com
cc:
Subject: Re: Resource IDs

     Brett -

     Currently, your masterfile has active SC Transfer resources at NP and SP
for routine SC transfers in and out as well
     as AS SC transfers.

     For each SC transfer resource function, you are limited to one set of
resources.

     With this being the case, I cannot register additional SC transfer
resources.

     Please call me with any questions,

     Best Regards,
     Steven Sweet

D.Brett.Hunsucker@enron.com on 11/14/2000 09:32:19 AM

To:   Steven T Sweet/users/PX_CALIF@PXNOTES
cc:   Portland.Shift@enron.com, Phillip.Platter@enron.com,
      Carla.Hoffman@enron.com, Chris.Mallory@enron.com

Subject:  Resource IDs

Morning Steven,

Will you please add four new resource IDs to the PX database for EPMI?
They are:
EPMIRTNP15IN
EPMIRTNP15OUT
EPMIRTSP15IN
EPMIRTSP15OUT

Please inform me of the Global IDs that will be assigned to these
resources.  As always, don't hesitate to call/email with questions.
503.464.8298.  Thanks for your help.

Regards,

Brett


Have you received any of these - I had notified Holli of four total missing
confirm letters.

Kate
---------------------- Forwarded by Kate Symes/PDX/ECT on 03/06/2001 09:11 AM
---------------------------

	From:  Holli Krebs                           03/06/2001 09:06 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Confirm Letters - Grant County

Grant said they sent the signed confirms to Houston.  Holli


Please discard the version I sent a few minutes ago.  Here is a clean copy
with one additional change and a marked copy to show all of the changes from
the original:


----- Forwarded by Tana Jones/HOU/ECT on 12/20/2000 02:27 PM -----

	exchangeinfo@nymex.com
	12/20/2000 02:13 PM

		 To: tana.jones@enron.com
		 cc:
		 Subject: (00-431) CFTC Approval and Exchange Implementation of Further
Amendments to Natural Gas Price Limits

TO:     All New York Mercantile Exchange Members and Member Firms
FROM:  Neal Wolkoff, Executive Vice President
RE:        CFTC Approval and Exchange Implementation of Further Amendments
to   Natural Gas Price Limits for Last Three Trading Days of Spot Month
DATE:   December 20, 2000

Notice #  00-431
==========================================================

Please be advised that the Exchange has received CFTC approval for further
amendments to natural gas price limits.  Members were previously advised in
Notice # 429 (December 18, 2000) that these changes were pending CFTC
approval.

These changes will become effective as of the start of the RTH session on
Friday, December 22, 2000. A copy of amended NYMEX Rule 220.08A (SPECIAL
PRICE FLUCTUATION LIMITS FOR NATURAL GAS FUTURES) is included below in this
Notice. The amendments to this rule add a new Section (E), which concerns the
last three days of trading in the spot month; the amendments also make
related conforming changes.

In view of the recent price movement in the Natural Gas contract, the
Exchange is amending the applicable price limit rules as follows:

(1) There shall be no price limits for any Natural Gas futures contract month
during the RTH session on the last three trading days of the current delivery
month, i.e., spot month.

(2) By comparison, price fluctuation limits shall remain in effect for all
contract months for the NYMEX ACCESS(r) sessions conducted on these three
trading days as provided by Exchange rules and as further modified by
applicable resolutions.

Thus, on Friday, December 22, on Tuesday, December 26, and on Wednesday,
December 27, 2000, there shall be no price limits in effect for any Natural
Gas futures contract months during the entire RTH session on those trade
dates.

In other words, prices shall move on an unrestricted basis during the entire
floor trading session on those three trade dates, and there shall be no
trading halts triggered at any time during such sessions.

As a reminder, an Executive Committee Resolution is still in effect that
amends on a temporary basis existing price limit rules by expanding the price
limits on NYMEX ACCESS (for all contracts listed for trading on NYMEX ACCESS
that have price limits). The Resolution will remain in effect until February
1, 2001, unless Members are notified otherwise by the Exchange. For your
convenience, a copy of the Resolution is also included in this Notice.

If you have any questions concerning the new rule amendments, please contact
George Henderson, Vice President, NYMEX Floor Department, at (212) 299-2071;
Rob Stasi, Manager of Trading Floor Systems, NYMEX Floor Department, at (212)
299-2067, or Brian Regan, Senior Associate General Counsel, at (212) 299-2207.

NATURAL GAS: APPROVED AMENDMENTS TO NYMEX
RULE 220.08A. SPECIAL PRICE FLUCTUATION LIMITS FOR NATURAL GAS
FUTURES

Rule 220.08A. SPECIAL PRICE FLUCTUATION LIMITS FOR NATURAL GAS
FUTURES
(A) Initial Price Fluctuation Limits for All Contract Months. At the
commencement of each trading day, there shall be price fluctuation limits in
effect for each contract month of this futures contract of $1.00 per MMBtu
above or below the previous day's settlement price for such contract month.

(B)(1) Triggering Event and Temporary Trading Halt. If a market for any
contract month is traded or, is bid in the case of upward price moves or is
offered in the case of downward price moves, for five (5) minutes
consecutively at the upper or lower price limit, as applicable, then a
Triggering Event will be deemed to have occurred.

(2) Except as otherwise provided in this rule, as a result of such Triggering
Event, the market will be given notice immediately that in two (2) minutes,
there will be a fifteen (15) minute temporary trading halt in all contract
months of that futures contract and the associated option contract
("Temporary Trading Halt"). The market will remain open during this
two-minute notice period, and the commencement of the Temporary Trading Halt
shall not be affected by market activity occurring during this notice period.

(3) Expansion of Limits Following Temporary Trading Halt. Following the end
of the 15-minute Temporary Trading Halt, the market shall reopen in all
contract months of this futures contract.  When trading resumes, price
fluctuation limits for each contract month, except as otherwise provided in
this rule, shall be expanded to $2.00 per MMBtu above and below the previous
day's settlement price for such contract month.

(4) Following resumption of trading after a Temporary Trading Halt, there
shall be no additional trading halts and no further expansion of price limits
for the remainder of the trading day.

(C) Duration of Session Following Temporary Trading Halt.   When trading
resumes after a Temporary Trading Halt, trading generally shall continue
until the regularly scheduled closing time subject to the following
exceptions:

1) if, at the start of the 15-minute Temporary Trading Halt, there is less
than 15 minutes before the close, then, when trading resumes after the
Temporary Trading Halt, the trading session shall be expanded as necessary to
provide for fifteen (15) minutes of trading following the resumption of
trading, and the closing period shall be the final two minutes of trading of
this 15-minute period of trading; and

provided however that if the five-minute Triggering Event is completed
during  the closing period, there shall be no Temporary Trading Halt for any
contract month and no expansion of price limits for any contract month.

(D) Application of Price Fluctuation Limits to NYMEX ACCESS(r) The limits
described in this rule shall apply to trading on NYMEX ACCESS(r), except as
provided by NYMEX Rule 6.56 and except that:

(1) if the five-minute Triggering Event is completed during the last ninety
minutes of a NYMEX ACCESS(r) trading session, there shall be no Temporary
Trading Halt and no expansion of price limits during the remainder of such
NYMEX ACCESS(r) trading session, and

(2) there shall be no Temporary Trading Halt during a NYMEX ACCESS(r) trading
session if, in the opinion of the President of the Exchange or his designee,
either the Triggering Event was not reflective of otherwise prevailing market
conditions or a Temporary Trading Halt is unwarranted.

(E) Exception for Last Three Trading Days of an Expiring Contract Month.

(1) RTH Session on Last Three Trading Days. Notwithstanding the preceding
sections of this rule, there shall be no limitations on price fluctuations
for any Natural Gas futures contract month during the entire RTH session of
the final three trading days in the current delivery month.

(2) NYMEX ACCESS( Session on Last Three Trading Days. Price fluctuation limits
for all Natural Gas futures contract months on these three trading days shall
remain in effect for the NYMEX ACCESS( session as provided by this rule.

APPROVED RESOLUTION OF THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS
REGARDING PRICE FLUCTUATION LIMITS FOR EXCHANGE CONTRACTS

The Executive Committee of the Board of Directors hereby

Resolves that, until further notice, the price fluctuation limit rules for
each futures contract that is listed for trading on NYMEX ACCESS(r) and that
has such applicable rules shall continue in effect except as amended below
with regard to market activity occurring on NYMEX ACCESS(r):

The initial and subsequent price fluctuation limits (for each Exchange
futures contract that has such limits) shall be expanded to 200% of the
initial and subsequent price fluctuation limits applicable to the first two
contract months of that futures contract that have price limits under the
applicable rule.

This expanded limit (200% of the limits for the first two months with limits)
shall be applicable to all contract months for that futures contract.

In the event that such a price fluctuation limit is reached by a bona fide
bid at the high price fluctuation limit or a bona fide offer at the low price
fluctuation limit, trading on NYMEX ACCESS(r) shall be halted immediately
except as directed otherwise by the President or the President's designee.
Following resumption of trading, the price limits in effect shall be 200% of
the limits applicable to RTH trading.  In the event that a limit is touched
during the last 90 minutes of a NYMEX ACCESS(r) session, the market shall be
halted briefly, and price limits shall be expanded thereafter

In addition, in the event that a contract trading on NYMEX ACCESS(r) traded
for five minutes during the NYMEX ACCESS session at a price
fluctuation limit applicable to the Regular Trading Hours session, then the
RTH session shall open with expanded price fluctuation limits as provided
under the applicable rule, even though no temporary cessation of trading
occurred during the NYMEX ACCESS(r) trading session.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"
http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdoc
=(00-431)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


Sara,

Legal name is Metallgesellschaft Ltd.     6/16/00 is correct.

Thanks,
Joe

From: Sara Shackleton on 09/15/2000 09:23 AM
To: Laurel Adams/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, Susan
Bailey/HOU/ECT@ECT
cc:
Subject: MG Ltd. transacations

Tax has confirmed that the MG deals should be confirmed in the name of RMT
(and NOT ENA).  I will have an RMT/MG Ltd. ISDA master put in place.

Joe: (1)   Please confirm the exact name of the MG entity.
          (2)  Please confirm that the first trade date was [6/16/00].

Susan:  Please start the process for a  new ISDA Master to be effective
[6/16/00].


On another "food for thought" note.  Eldon and Nancy:  Here's the WSJ editorial by Scott Simon--long-time NPR dude, credentialed lib, and Quaker--on "just wars."  Sort of thought-provoking.

Best,
Jeff

October 11, 2001
Commentary
Even Pacifists Must
Support This War

By Scott Simon, the host of National Public Radio's "Weekend Edition With Scott Simon."

Pacifists often commit the same mistake as generals: They prepare for the last war, not the next one. Many of the peace activists I have seen trying to rouse opposition to today's war against terrorism remind me of a Halloween parade. They put on old, familiar-looking protest masks -- against American imperialism, oppression and violence -- that bear no resemblance to the real demons haunting us now.

Pacifism has never been exactly popular. But when I became a Quaker as an adolescent in the late 1960s, pacifism seemed to offer a compelling alternative to the perpetuity of brute force. Mahatma Gandhi had overthrown an empire and Martin Luther King had overturned a racial tyranny with nonviolent marches, fasts, and boycotts that were nervy, ennobling and effective. Pacifism seemed to offer a chance for survival to a generation that had been stunted by the fear of nuclear extinction.

I worked as a war reporter, but I never saw a conflict between this and being a Quaker. If my reporting was sometimes drawn more to human details than to the box-score kind of war coverage, those details struck me as critical to explaining war. I never covered a conflict -- whether in Central America, the Caribbean, Africa or the Middle East -- that seriously shook my religious convictions. In fact, most conflicts seemed to prove how war was rotten, wasteful and useless. El Salvador's civil war killed 70,000 people over nine years. It was hard to see how the political compromise that ended the conflict could not have been reached after just six months.
But in the 1990s, I covered the Balkans. In Sarajevo, Srebrenica, and Kosovo, I confronted the logical flaw (or perhaps I should say the fatal flaw) of nonviolent resistance: All the best people can be killed by all the worst ones. I had never believed that pacifism had all the answers; neither does militarism. About half of all draft age Quakers enlisted in World War II, believing that whatever wisdom pacifism had to give the world, it could not defeat the murderous schemes of Adolf Hitler and his cohorts.

It seems to me that in confronting the forces that attacked the World Trade Center and the Pentagon, American pacifists have no sane alternative now but to support war. I don't consider this reprisal or revenge, but self-defense: protecting the world from further attacks by destroying those who would launch them.

Some peace activists, their judgment still hobbled by shock, seem to believe that the attacks against New York and Washington were natural disasters: terrible, unpredictable whirlwinds that struck once and will not reoccur.

This is wrong. We know now that there has been an ongoing violent campaign aimed at bringing down diverse nations, with none being more gloriously speckled than the U.S. People who try to hold certain American policies or culture responsible are trying to decorate the crimes of psychotics with synthetic political significance.

In 1933 the Oxford Student Union conducted a famous debate over whether it was moral for Britons to fight for king and country. The exquisite intellects of that leading university reviewed the many ways in which British colonialism exploited and oppressed the world. They cited the ways in which vengeful demands made of Germany in the wake of World War I had helped to kindle nationalism and fascism. They saw no moral difference between Western colonialism and world fascism. The Oxford Union ended that debate with this famous proclamation: "Resolved, that we will in no circumstances fight for king and country."

Von Ribbentrop sent back the good news to Germany's new chancellor, Hitler: The West will not fight for its own survival. Its finest minds will justify a silent surrender.

In short, the best-educated young people of their time could not tell the difference between the deficiencies of their own nation, in which liberty and democracy were cornerstones, and a dictatorship founded on racism, tyranny and fear.

And what price would those who urge reconciliation today pay for peace? Should Americans impose a unitary religious state, throw women out of school and work, and rob other religious groups of their rights, so that we have the kind of society the attackers accept? Do pacifists really want to live in the kind of world that the terrorists who hit the World Trade Center and Pentagon would make?

Pacifists do not need any lectures about risking their lives to stop wickedness. Quakers resisted slavery by smuggling out slaves when even Abraham Lincoln tried to appease the Confederacy. Pacifists sneaked refugee Jews out of Germany when England and the U.S. were still trying to placate Hitler. Many conscientious objectors have served bravely in gritty and unglamorous tasks that aided the U.S. in time of war.

But those of us who have been pacifists must admit that it has been our blessing to live in a nation in which other citizens have been willing to risk their lives to defend our dissent. The war against terrorism does not shove American power into places where it has no place. It calls on America's military strength in a global crisis in which peaceful solutions are not apparent.
Only American (and British) power can stop more killing in the world's skyscrapers, pizza parlors, embassies, bus stations, ships, and airplanes. Pacifists, like most Americans, would like to change their country in a thousand ways. And the blasts of Sept. 11 should remind American pacifists that they live in that one place on the planet where change -- in fact, peaceful change -- seems most possible. It is better to sacrifice our ideals than to expect others to die for them.

-----Original Message-----
From: eldon [mailto:eldon@direcpc.com]
Sent: Monday, October 15, 2001 1:45 PM
To: Cameron Sellers (E-mail); Dotty Hopkins (E-mail); Nancy Sellers
(E-mail); Nancy Sellers (E-mail); Prentice Sellers (E-mail 2); Rory
Sellers (E-mail); Scott Laughlin (E-mail); Dasovich, Jeff; William K.
Sellers (E-mail); cptjack@napanet.net
Subject: Having trouble 'getting back to normal'

- - - - - - - - - - - - - - - - - - - - - - - - - - - -
--Ethics Matters columnist Carlton Vogt on the ethical
implications of President Bush's decision that civilian
airliners that are perceived to be a threat to the general
population should be shot down.

http://www.infoworld.com/articles/op/xml/01/10/08/011008opethics.xml?1015mnl
v
- - - - - - - - - - - - - - - - - - - - - - - - - - - -

What do you think about this?  It seems to me that, while I don't at this
point vote either way, there is another factor in the equation that I don't
see mentioned.  What if you also  hypothesize that those identified people
are going to die anyway?  We have pretty good evidence that some of the
people on the plane that went down in Pennsylvania were thinking this way.


---------------------- Forwarded by Kayne Coulter/HOU/ECT on 02/05/2001 08:58
AM ---------------------------

Gary and Donna Holtz <dgholtz@yahoo.com> on 02/05/2001 08:43:58 AM
To: Grandma Grandpa <mbholtz@aol.com>
cc:
Subject: LOL!

Note: forwarded message attached.

__________________________________________________
Get personalized email addresses from Yahoo! Mail - only $35
a year!  http://personal.mail.yahoo.com/
X-Apparently-To: dgholtz@yahoo.com via web206
Received: from web204  (HELO web204.mail.yahoo.com) (128.11.68.104)  by
mta117.mail.yahoo.com with SMTP; 03 Feb 2001 06:52:14 -0800 (PST)
Received: (qmail 26134 invoked by uid 60001); 3 Feb 2001 14:52:13 -0000
Message-ID: <20010203145213.26133.qmail@web204.mail.yahoo.com>
Received: from [209.255.164.184] by web204.mail.yahoo.com; Sat, 03 Feb 2001
06:52:13 PST
Date: Sat, 3 Feb 2001 06:52:13 -0800 (PST)
From: Gary and Donna Holtz <dgholtz@yahoo.com>
Subject: LOL!
To: dgholtz@yahoo.com
MIME-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Length: 1583

A man boards an airplane and takes his seat. As he
settles in, he glances up and sees a very beautiful
woman boarding the plane.

He soon realizes she is heading straight towards
his seat. Lo and behold, she takes the seat right
beside his. Eager to strike up a conversation, he
blurts out "Business trip or vacation?"

She turns, smiles and says, "Business. I'm going to
the annual "Nymphomaniac Convention in Chicago."

He swallows hard. Here is the most gorgeous woman he
has ever seen sitting next to him and she's going to a
meeting for nymphomaniacs. Struggling to maintain his
composure, he calmly asks, "What's your business role
at this convention?"

"Lecturer", she says. "I use my experience to
debunk some of the popular myths about sexuality."

"Really", he says, "what myths are those?"

"Well", she explains, "one popular myth is that
African American men are the most well endowed when,
in fact, it's the Native American Indian who is most
likely to possess that trait.

Another popular myth is that French men are the best
lovers, when actually it is the men of Jewish descent.
However, we have found that the best potential lover
in all categories is the Southern Redneck."

Suddenly the woman becomes a little uncomfortable and
blushes.

"I'm sorry", she says. "I shouldn't be discussing
this with you.

I don't even know your name!"

"Tonto", the man says, "Tonto Goldstein. But my
friends call me Bubba."

__________________________________________________
Get personalized email addresses from Yahoo! Mail - only $35
a year!  http://personal.mail.yahoo.com/


Please use this vol curve for a dry run to figure out var for my book, NG
price, and Jim's book, Storage, and communicate the results.  Thanks,John


Following please find the Weekly Management Report and the Daily Executive
Summary.

EnronOnline Executive Summary for 11/10/00
Transaction Summary
External Transactions Today	3,611
Average Daily External Transactions (30 day Trailing Avg)	3,238
Total Life to Date Transactions	427,224

EnronOnline Daily % of Entity's Total Transactions for 11/10/00	Trans	Percent
Enron North America	3,013	80
Enron Europe Limited	244	42
Global Products	144	31
Enron Metals	240	7

EnronOnline Percentage of Total Corporate Transactions
(30 day Trailing Avg)	48%

Gross Notional Value of EnronOnline Transactions	Total
Today	2,502,179,517
MTD	21,899,435,275
LTD	235,331,119,953
Average Daily Notional Value (30 Day Trailing Avg)	2,217,105,552

Notional Revenue from Physical Flows to Date	16,106,253,102

Counterparties, Users, and Products Offered
Counterparties having transacted to date	557
New Counterparties transacting for the first time today	3
Number of Products Offered Today	1,129
Total Number of External Users Logged on Today	2,580
Average # of External Users logged on (30 day Trailing Avg)	2,717

Also attached is the Weekly Public Domain Report, containing information
which is intended for use in presentations or reports which will be seen by
individuals outside Enron.


In the latest issue of Enron Business, you have an opportunity to win a $25
gift certificate to the Enron Signature Shop!  Just use your creativity and
humor to enter the EB Top 10 List and see if you emerge a winner.  Go to
home.enron.com, click on Publications, then on Enron Business and "Volume 4,
2000."  Deadline for entries is Friday, October 13.

Also in this issue:

? Enron Net Works' unique eCommerce incubator;
? Project Gem improves Enron's worldwide systems;
? The year of communication and how we,re doing;
? Enron becomes a major player in world metals trading;
? Nigeria's breakthrough power deal; and
? The answers to the "Enron Stumpers" quiz from the previous issue.  Sorry,
we had no winners!


The attachment summarizes all of the comments filed by other parties in this proceeding.  They're now in alphabetical order by the party filing, and the ones that I added since last night are highlighted.  Let me know if you'd like a copy of any of them.


We have received and executed Master Agreement:

Type of Contract:  ISDA Master Agreement (Multicurrency-Cross Border)

Effective Date:   April 28, 2000

Enron Entity:   Enron North America Corp.

Counterparty:   Kinder Morgan, Inc.

Transactions Covered:  Approved for all products with the exception of: Pulp
& Paper
          Foreign Exchange


Greetings,

I'm working with Sheila Tweed and others at ENA and EECC in developing a more
standardized contract with GE for equipment purchases.  The goal is to
develop a more efficient contracting process, and to avoid negotiating the
same  points repeatedly, with varying results among business units.  Sheila
has suggested that I drop you a line to see if this is something you might
find interesting and/or helpful.

You now have my email address, and my phone number is 713 345 7566.  Please
let me know your thoughts about participating in the process.

Thank you,

Kay


I thought of you yesterday.  I planted an eggplant plant and a pepper plant.
What a great weekend - I lived outside.  What about you?

ckm

	From:  Kathleen Carnahan                           05/14/2001 01:17 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Re: Confidentiality agreement

Still pretty nasty language huh?  How was your Mother's Day Mulching Party?
Great day wasn't it?

K-

Kay Mann
05/14/2001 01:00 PM
To: Mark Metts/Enron@EnronXGate, Timothy J Detmering/HOU/ECT
cc: John Llodra/Corp/Enron@ENRON, W David Duran/Enron@EnronXGate, Lance
Schuler-Legal/HOU/ECT@ECT (bcc: Kathleen Carnahan/NA/Enron)

Subject: Confidentiality agreement

Gentlemen,

I'm with EWS Legal, and I'm working with John Llodra (East Power origination)
concerning a confidentiality agreement with Ameresco.  The proposed
transaction is described as follows:

 A potential power plant site development and asset management services
related to the Island End Generation Project, a nominal  365 MW combined
cycle power generation facility, proposed to be located in Everett,
Massachusetts.

The current draft of the CA contains this language:

 From the time of the signing of this Agreement until October 1, 2001 neither
Party shall pursue the Proposed Transaction without  the participation of the
other Party, unless the other Party consents in writing or notifies the other
Party that it does not intend to   pursue the Proposed Transaction.

In accordance with policy, this issue is being submitted to you for your
review.

John can be contacted at 978 449 9936.  My extension is 57566.

Thank you,

Kay

Here is the entire CA:


Can you please add David Minns, a lawyer from our Australia office as an
auhorized person with full privileges to the Master Swap Agreement Database
(of course, only I should have keyword change and deletion ability).


Have fun in Wharton -- remember that Hines BBQ is the best bet in town.
Leave room for the pie!  Let's review calendars so that we can pin point a
time for you or you and Chris to visit.  ( I will keep that date
confidential, so that it will be reserved for you.)  --Sally

"White, Cara" <CWhite@texas.usta.com> on 05/02/2000 10:47:42 AM
To: "'Sally.Beck@enron.com'" <Sally.Beck@enron.com>
cc:
Subject: RE: Hi!

Yes, it's good to have my hubby back!   Am going to Wharton tomorrow to meet
with Trav - as far as we can tell, the Wharton County Tennis Assoc. is the
oldest in the state and I'm going to write an article about them.  Hope all
is well.  Hello to all!   Love, Cara

> -----Original Message-----
> From: Sally.Beck@enron.com [SMTP:Sally.Beck@enron.com]
> Sent: Monday, May 01, 2000 4:58 PM
> To: CWhite@texas.usta.com
> Subject: Re: Hi!
>
>
> Glad you sent a note - as crazy as life is at our house right now, I did
> not get the message from Tammy.  Lots of catch up in the office last week,
> which will continue this week.  I think that Chris is home by now, and I
> am
> sure that you and Erica are glad to have the additional company.  We are
> starting to talk birthday with Meagan now.  I will get back with you in a
> couple of days after Meg and I have gone through the JA catalogue.  Thanks
> for asking.  --Sally
>
>
>
>
> "White, Cara" <CWhite@texas.usta.com> on 05/01/2000 04:35:43 PM
>
> To:   "'sally.beck@enron.com'" <sally.beck@enron.com>
> cc:
> Subject:  Hi!
>
>
> Hi, Sal.   Just checking in with you.  I called Friday and talked with
> Tammy; I wasn't sure if you'd get the message.  Have you had a chance to
> comb through the James Avery catalogue (or think of any other ideas?) for
> Meagan's birthday?   Hope you're well.   E-mail back when you can!   Love,
> C.
>
>
>


pls print.  thanks. dF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 01/18/2000
02:34 PM ---------------------------

"Sara Davidson" <sdavid2@ect.enron.com> on 01/18/2000 01:37:28 PM
To: BCC
cc:  (bcc: Drew Fossum/ET&S/Enron)

Subject: 2000 Enron Law Conference

Attached please find the RSVP form for the 2000 Enron Law Conference and a
cover
letter regarding same.  Complete the RSVP form and return it no later than
Friday, February 11th via email to Sara.Davidson@enron.com or fax it to (713)
646-4995.

(See attached file: 2000 rsvp letter.doc)     (See attached file: 2000 rsvp
form.doc)

 - 2000 rsvp letter.doc
 - 2000 rsvp form.doc


Lisa,

I am not sure I fully understand your question,  Richard Ring of EES helps manage this position.  He would probable be a good place to start.

Thanks,
Michael
6-9690

 -----Original Message-----
From: 	Pitt, Lisa
Sent:	Monday, November 12, 2001 12:47 PM
To:	Croiset, Kathleen; Payne, Michael
Subject:	EES Contact Information

I am looking for the name of EWC's contact at Enron Energy Services to discuss meter calibration at Green Power.  If you have contact information, please forward it to me.

Thanks


AGA is 78.  Screen dipped to $3.95, currently at $4.05 / $4.06


boondoggle.  golf & booze.  i need to meet with some customers.


---------------------- Forwarded by Steven J Kean/NA/Enron on 08/28/2000
07:31 AM ---------------------------

Gavin Dillingham@ENRON_DEVELOPMENT
08/25/2000 05:16 PM
To: joe Hartsoe@ENRON, Sandra McCubbin@EES, Susan Mara@EES, Paul Kaufman@ECT,
Karen Denne@ENRON, Jeff Dasovich@EES, Mark Palmer@ENRON, James D Steffes@EES,
Richard Shapiro@EES, Elizabeth Linnell@EES, Jeannie Mandelker@ECT,
filuntz@aol.com, Steven J Kean/NA/Enron@Enron, Mark A Schroeder@ENRON, Peter
Styles@ECT, Litz@luntz.com
cc:

Subject: CA PWR ISSUE

Mass. To Join N.Y., Calif In Market-based Elec Rates


I'd like to schedule a time to meet with AFAC and Marcelo during the week of
November 28 in Sao Paulo.  Let me know ASAP if you have a preferance.  I
suggest we shoot for Tuesday (in case we have follow up issues).  Thanks.
Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 11/05/99 10:46
AM ---------------------------

"MBTOS - Marcelo Rodrigues" <Mbtos@tozzini.com.br> on 11/05/99 05:40:42 AM
To: Sara Shackleton/HOU/ECT@ECT
cc: Af@tozzini.com.br, Giani@tozzini.com.br
Subject: Re: Financial Trading in Brazil

"S?o Paulo, November 05, 1999

Dear Sara:

Thank you for your message below. We are at your disposal to meet with you
during the week of November 28 on any of the days that you have suggested:
November 30 - (Tuesday),
December 1 (Wednesday) or December 2 (Thursday).

Please inform which date is more appropriate for you.

Kind regards,

Marcelo Rodrigues"

>>> "Sara Shackleton" <sshackl@ect.enron.com> 11/04 2:12 pm >>>

Marcelo:  Have you had a chance to speak with AFAC about the week of November
28?  Please let me hear from you soon.  Regards.  Sara

"MBTOS - Marcelo Rodrigues" <Mbtos@tozzini.com.br> on 10/27/99 05:40:35 PM

To:   Sara Shackleton/HOU/ECT@ECT
cc:   Andrea Bertone@ENRON_DEVELOPMENT, Brent Hendry@ENRON_DEVELOPMENT, Lynn
      Aven@ENRON_DEVELOPMENT, Randy Young@ENRON_DEVELOPMENT, Rick
      Hopkinson@ENRON_DEVELOPMENT, Mark Taylor/HOU/ECT@ECT, Af@tozzini.com.br
Subject:  Re: Financial Trading in Brazil

"Dear Sara:

Thank you for your message below. Please note that AFAC is in a business trip
in
Japan and will be back to Brazil in the beginning of next week. We will
confirm
to you the scheduled dates referred to in your message below in the middle of
next week.

We look forward to receiving from you the list of remaining issues referred to
below.

Best regards,

Marcelo Rodrigues"

>>> "Sara Shackleton" <sshackl@ect.enron.com> 10/27 6:32 pm >>>

AFAC and Marcelo:  We are in the process of reviewing the Comparative Chart
and
attached memorandum and will soon provide a list of remaining issues which
Enron
North America and South America would like to have addressed.  We are also
attempting to identify specific types of transactions which may be required to
hedge Enron risk in Brazil before 12/31/99.  For planning purposes, the
"group"
would like to meet with you in Sao Paulo during the week of November 28.   We
are hoping that you may be able to accomodate us on  November 30 (Tuesday),
December 1 (Wednesday) or December 2 (Thursday).  Please let us hear from you.
Regards.  Sara


TO:		All Eligible Enron Employees in Houston

FROM:	Charla Stuart

DATE:		Monday, June 11, 2001

RE:		OPEN ENROLLMENT FOR ENRON KIDS' CENTER IS UNDERWAY!!!

OPEN ENROLLMENT FOR ENRON KIDS' CENTER IS UNDERWAY!!!

Want to be closer to your child during the workday?  Want to read to them at lunchtime or just give them a hug?  Then consider enrolling your child in the Enron Kids' Center.

Enron Kids' Center child care facility is currently under construction and will be located on Louisiana Street, across from our corporate headquarters in Houston. Enron is partnering with Knowledge Beginnings, one of the leaders in the child care industry, to provide high quality, conveniently located, customer service-oriented childcare for Enron employees in Houston.

Anticipated opening date:	September 2001

Hours of operation:		The center will be open Monday through Friday from 7:00 AM - 6:30 PM. The center will be closed on all Enron holidays. In addition, special "parents' night out" care will be offered for occasions such as holiday shopping and night out at the movies for an additional fee.

Complete meal service:	Your child's breakfast, lunch and two snacks are included in tuition. Infants will need to bring their own food until they are ready for "table food".

Eligibility:			Regular full-time or part-time Enron employees who are the parents or legal guardians of the child or children named on the application are eligible to enroll their children in the center.  Temporary employees, contract workers and non-custodial parents are not eligible to enroll their children in the child development center.

Contact Information:		Visit http://enronkids.enron.com to learn more about Enron Kids' Center or contact Knowledge
				Beginnings at 1-877-CHILDHOOD (between 8:00 am -5:00 p.m. PST).


Yr to Yr and Qtr to Qtr changes due to EOL and increased Entex takes.

Dave

	Enron North America Corp.

	From:  Misti Day                           09/18/2000 03:53 PM

To: Michelle Bruce/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Kyle Etter/HOU/ECT@ECT, Laura
E Scott/CAL/ECT@ECT, Jill Louie/CAL/ECT@ECT, David Baumbach/HOU/ECT@ECT, Mark
Confer/HOU/ECT@ECT, Edie Leschber/HOU/ECT@ECT, Rita Anderson/Corp/Enron@Enron
cc: Paula Harris/HOU/ECT@ECT, Faith Killen/HOU/ECT@ECT, Hunter S
Shively/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT
Subject: Wholesale Volumes - August

It's that time again for the monthly and quarterly volumetric explanations!
The database for August is now ready for viewing.  Just as a reminder, this
is the shortcut on your desktop called "Statistical Database".

As there is continued investor focus on our Wholesale Operations, Investor
Relations requests that Business Analysis & Reporting provide monthly
volumetric analysis for Wholesale Operations in addition to the quarterly
analysis.  Please review the analysis for August 2000 and provide
explanations for all material changes (+/- 10%) for the year/year,
quarter/quarter, and month/month variances.  The current objective of
Investor Relations is to use this analysis as a resource to answer potential
investor or analyst questions, but it may be used for ad hoc requests and
presentations.   It is essential that the volumes be verified by commercial
personnel.

Please forward your verification and explanations via e-mail to me by 10:00am
Friday, September 22.  Please feel free to call with any questions.

Thanks,

Misti
x39525


Call me, lets chat.


Kay

I used your 2001 form and have modified it to show changes I think we should
make in the form.  Please note that the words I have highlighted in yellow
are highlighted only to show I've underlined them.  That's purely a stylistic
thing I do to make it easier to search for a defined term.  I've also
attached, as part of the document but not as an exhibit, the form of
Memorandum of Option that I have prepared for the two options I'm working
on.  This is the form of Memorandum of Option that we use for our Houston
Pipe Line and Enron Midstream properties.  To make sure that we don't
inadvertently put a cloud on title, I always put the termination date of the
option agreement in the document.  If we exercise the option, it is a moot
point but, if we don't exercise the option, we could cloud the owner's
title.  It is my intention for the Florida projects that we will always
endeavor to get a Memorandum filed.


Market Participants:

Please assure that this Notification is forwarded to your respective
Operating Departments for Review ---

Notification of Operating Procedure Update

* The following new or revised ISO Operating Procedures have been
implemented and are posted for reference on the ISO Website.

ISO Operating Procedure posted:  E-508 Electrical Emergency Plan
Version: 1.6
Effective Date: 8-29-2000
Changes / Reasons: Minor editorial changes

* Please find them at
http://www1.caiso.com/thegrid/operations/opsdoc/index.html under the
appropriate Operating Procedure section heading.

If you have any questions, please e-mail the 'Procedure Control Desk'
mailbox at procctrldesk@caiso.com and we will respond as soon as possible.

Thank-You,

Operations Support and Training


---------------------- Forwarded by David M Gagliardi/TTG/HouInd on
07/05/2000 08:21 AM ---------------------------

"Michael Gagliardi" <mggagliardi@duke-energy.com> on 07/05/2000 08:08:06 AM

To:   DGagliardi@reliantenergy.com, David_Ricks@GSDM.com, BobandIt@lcc.net
cc:

Subject:  True Orange Fax/E-Mail 61

---------------------- Forwarded by Michael
Gagliardi/Hou-ComOps/EnergyTrading/PEC on 07/05/2000 08:16 AM
---------------------------

TruOrange@aol.com on 07/03/2000 07:46:36 PM

To:   TruOrange@aol.com
cc:    (bcc: Michael Gagliardi/Hou-ComOps/EnergyTrading/PEC)
Subject:  True Orange Fax/E-Mail 61

True Orange Fax/E-Mail Service
Volume 8, Fax/E-Mail #61, Monday, July 3, 2000
Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
Phone
512-795-8536

Beltran Qualifies, but Sonny Davis Headed to Junior College

RB Sneezy Beltran of Abilene told me today (Monday) he made a qualifying
score of 18 on the ACT, but the mother of DT Sonny Davis of Austin Lanier
told me her son did not qualify and is heading to Gulf Coast JC in
Mississippi to play football for the next two years.
Beltran is a good student who almost qualified on his first try at the ACT,
but he said he operates best under pressure and he proved it by waiting
until
the last possible date to take it again. He is a full qualifier now and
gives
the Longhorns 19 incoming scholarship recruits.
Texas actually has 22 freshmen who have never redshirted on scholarship,
but
three of them (DT Stevie Lee and S Phillip Geiggar, both of Shreveport
Evangel, and FB Tyrone Richardson of Clarksville) enrolled last January, so
only 19 scholarship freshmen will be reporting next month for the first
time.
In addition to Davis, the Longhorns lost DT Marcel Moses of Texas City to
Kilgore JC. Both Davis and Moses say they plan to come back to UT in two
years after they graduate from junior college.
Lee looked like a future star in spring training, but Texas really needs to
sign some more defensive tackles because All-American Casey Hampton and
All-Big 12 Shaun Rogers are both heading into their senior seasons. The
defensive tackle position in the Texas high school ranks is a true good
news,
bad news story this year. The good news is that Tommie Harris of Killeen
Ellison is as good a DT prospect as there is in the country and he is a
strong Texas lean. The bad news is that there is no one else even close to
him in the entire state. So, if the Horns get Harris, they will have snared
a
great DT, but, if they don't, they sure will need to get one who can play
as
a true freshman the following year.
RB Cedric Benson  of Midland Lee, who ran for a Class 5A record 3,526 yards
and another record 51 touchdowns last season in leading the Rebels to their
second straight State Championship, had to cancel his unofficial visit to
Texas last weekend. He and his mother had planned to fly to Austin
Saturday,
but they were flying standby and got bumped by the holiday traffic. He said
he will come to Austin later this month or in early Augusut to meet with
the
Texas coaches.
He is a long-time UT fan who says he wants to commit to a college this
summer
so he can concentrate on his upcoming senior season. He told me might
commit
to the Longhorns when he takes his unofficial visit.
* * * *
The Longhorns' chances at getting C Greg Barnum of Killeen Ellison are not
as
bright as they were earlier. He likes Texas, but don't believe those
internet
rumors that he has been accepted by the UT admissions office. Barnum was
supposed to be the anchor of Tennessee's offensive line this season, but he
quit the team several weeks ago.
Vol  coach Phil Fulmer has refused to release him. Under Fulmer, the Vols
have one of the worst graduation rates in the college ranks. Barnum was a
good high school student, but few Vol players could meet the academic
requirements to transfer to Texas, and that might be a stumbling block for
Barnum. (If I read this on the internet, I can't be as frank on academic
matters in future e-mails!!!)
* * * *
Texas has 10 early commitments, including QB/DB Kendal Briles of Frenship,
MLB Yamil Lebron of Killeen Ellison, OLs Mike Garcia of Galena Park (who
switched from A&M to Texas), Jonathan Scott of Dallas Carter, Abe Robinson
of
Houston Jersey Village, Roman Reeves of Livingston, Will Allen of Houston
Cypress Falls and Alfio Randall of Blinn JC and DBs Braden Johnson of
Euless
Trinity and Brian Carter of The Woodlands.
* * * *
The UT n baseball coaches have signed left-handed pitcher Brantley Jordan,
6-0, 190, of Texarkana JC and formerly of Round Rock McNeil. Jordan was
11-0
last season with a 1.1 ERA in conference play and a 2-4 ERA overall. He has
a
90 mph fast ball and a very good curve ball to go along with excellent
control.
* * * *
Long-time UT tennis coach Dave Snyder has retired. Let's hope the UT brass
will hire his former top assistant, Dwayne Hultquist, to succeed him.
Hultquist, currently the head tennis coach at Florida State, is a great
recruiter who can do great things at Texas if he gets the chance.
* * * *
My next fax will be whenever events warrant.
* * * *
The True Orange Fax Service includes  at  least  99 faxes  a year and costs
$99 ($79 by E-Mail). The True Orange Newsletter includes  26 newsletters
and
is published weekly during football season and twice monthly during most of
the other months. It costs $45. Save by subscribing to both for $130 (or
$110
if you take the faxes via E-Mail  or $99 if you take the faxes and
newsletter
via E-Mail). Send check  to address at the top of page. I also  update my
900 number

- 1-900-288-8839
- frequently with recruiting news. My E-Mail
address is: truorange@aol.com


----- Forwarded by Tana Jones/HOU/ECT on 11/15/2000 05:19 PM -----

	Paul Finken@ENRON COMMUNICATIONS
	11/15/2000 05:00 PM

		 To: jnugent@purchasepooling.com
		 cc: kihansen@cisco.com, Tana Jones/HOU/ECT@ECT, Kara Knop/Enron
Communications@Enron Communications, Dovie Keprta/Enron Communications@Enron
Communications
		 Subject: NDA-Purchase Pooling, Inc.

John - The legal department informed me that the Enron NDA would be mutually
binding and if we worked from your Purchase Pooling NDA that it would take a
few days before they could review the document.  Is it possible to work from
the Enron NDA or do you or your attorneys have specific questions?

pf
----- Forwarded by Paul Finken/Enron Communications on 11/15/00 04:52 PM -----

	Tana Jones@ECT
	11/10/00 02:13 PM

		 To: jnugent@purchasepooling.com
		 cc: Dovie Keprta/Enron Communications@Enron Communications, Paul
Finken/Enron Communications@Enron Communications, Leslie Hansen/HOU/ECT@ECT
		 Subject: NDA-Purchase Pooling, Inc.

At the request of Paul Finken, I am attaching our proposed form of
Non-Disclosure Agreement.  If the enclosed meets with your approval, please
mail or fax an executed copy to me.  If you have any comments or questions,
please do not hesitate to call me at (713) 853-3399.  My fax number is (713)
636-3490.


I had heard that the big E bought out the minority investors last summer.
Hadn't seen this coming.  So what's next for Azurix?


Dutch,

per EDF Statement dated 11/01  NG has posted margin of 17,062,684...  I will have the report similiar to earlier report later in the day....

Frank F. Cernosek
Exchange Accounting
Financial Operations
713-853-1581


Dear Owner

As of the 4th April 2001 we will be changing our Bank from Lloyds TSB to
Citibank.

Sunsail Worldwide Sailing Limited
Citibank.N.A
The Strand
London

If you have any problems receiving your monthly or quarterly payments, please
do not hesitate to contact me.

With kind regards

Jo Hillier-Smith
Owner Care Manager
Sunsail Worldwide Sailing Ltd
Tel: +44 (0) 2392 222215
Email: joh@sunsail.com
This e-mail and any attachment is intended for the named addressee(s)
only, or a person authorised to receive it on their behalf. The content
should be treated as confidential and the recipient may not disclose this
message or any attachment to anyone else without authorisation. Unauthorised
use, copying or disclosure may be unlawful. If this transmission is received
in error please notify the sender immediately and delete this message from
your e-mail system. Any view expressed by the sender of this message or any
attachment may be personal and may not represent the view held by the Company.

Sunsail Limited (Company Number 1239190) or Sunsail Worldwide Sailing
Limited (Company Number 1658245)? both with registered offices at The Port
House, Port Solent, Portsmouth, Hampshire, PO6 4TH, England


Please do not send me these charts.


julie,

this is first of the month week for us and busy!  if there is no one else, let me know and we can try to re-arrange our coverage.

Thanks,

diana

 -----Original Message-----
From: 	Kearney, Julie
Sent:	Monday, October 29, 2001 1:59 PM
To:	Scholtes, Diana
Subject:	Portland State
Importance:	High

Diana,

Would you be available to help me with the Assoc / Analyst recruiting this week?  We are going to Portland State this week.

Here's how it works:  There is an Info Session on Thursday at 5:00 PM and interviews on Friday.  The Info Session is from 5:00 PM  --> 6:30.  There is a PowerPoint presentation which explains Enron's business  which depending upon how many questions, usually takes from an hour to an hour and a half.

Then, Friday morning, we are only interviewing in the morning from 8:00 AM to 12:00 Noon.  The interviews are 1/2 hour each.  You should be back to the office before Noon.

Would your schedule allow you to help me out?

Julie K
x7404


Tim -- This is the only article our "research department" could find.  Hope
it's the one you were looking for.  kd
---------------------- Forwarded by Karen Denne/Corp/Enron on 03/21/2001
08:55 AM ---------------------------

	From:  Ann M Schmidt                           03/20/2001 04:14 PM

To: Karen Denne/Corp/Enron@ENRON
cc:

Subject: San Diego Union-Tribune

Karen,

I have combed carefully through past San Diego Union-Tribune articles for the
article Tim Belden is looking for and below are the only two articles that I
can find that remotely address Steve Peace and the stranded cost issue.  I
have a feeling it may not be what they are exactly looking for but then again
it may be.  I even had Miyung Buster and Lynette Barnes take a stab at
finding it and they had no luck. Please let me know if this is it and if not
I can combed through again.  Thanks, Ann

NEWS
ELECTION '98 | PROPOSITION 9
Sparks fly over utilities measure | Consumer groups vs. broad coalition
Ed Mendel
STAFF WRITER

10/11/1998
The San Diego Union-Tribune
1 2
A-1
(Copyright 1998)

SACRAMENTO -- It looked like a triumph of legislative deal-making when, after
a year and a half of talks, a sweeping plan to deregulate electricity in
California came together in the final hours of the legislative session two
years ago.
The bill, brokered mainly by state Sen. Steve Peace, D-El Cajon, was not
opposed by any special-interest group. The complicated measure sailed through
both houses of the Legislature without a single "no" vote. But then consumer
groups took a second look.
They reached two main conclusions: A promised 10 percent rate reduction is
"phony," they say, and ratepayers should not have to pay for privately owned
utilities' ill-advised investments in nuclear power plants. Now the consumer
groups, backed by one of the biggest names in consumer protection, Ralph
Nader, have placed an initiative on the Nov. 3 ballot, Proposition 9, that
would make major changes in the deregulation plan passed two years ago.
"Billions of dollars of ratepayer money has been committed not to a
sustainable energy future but to the outright bailout of uneconomic nuclear
and fossil-fuel plants owned by investors," said Nader.
Proposition 9 prohibits ratepayers from being charged to pay off $6 billion
in bonds issued last year to finance a 10 percent cut in electricity rates
that took effect last January.
Furthermore, the initiative promises a 20 percent rate reduction by
prohibiting utilities from charging ratepayers for the "transition" costs as
they move nuclear and other uneconomical power plants into a deregulated
system.
The ballot measure is alarming to opponents, a broad coalition that includes
nearly all of the major business, labor, agriculture and local government
groups, some environmental groups, the Republican and Democratic parties, and
the leading gubernatorial candidates: Democrat Gray Davis and Republican Dan
Lungren.
Opponents say the initiative would be a severe setback for the deregulation
process needed to bring more competitive electricity prices to California,
where rates have been 50 percent higher than the national average. The
opponents also contend that the initiative could force taxpayers to pay off
the $6 billion bond, drive up the cost of borrowing for state and local
government by damaging bond credit ratings, and ultimately result in higher
rates for residences and businesses.
"I think it's fair to say Proposition 9 is categorically the most
disingenuous, misleading, anti-consumer proposition ever put on the ballot,"
said Peace.
With heavy funding from utilities, opponents have launched an extensive
television ad campaign to defeat Proposition 9. Backers of the measure say
their campaign will probably be limited to grass-roots work. Some polls have
shown Proposition 9 with a lead. But the statewide Field Poll, which has
decades of experience polling on ballot measures, showed the initiative
trailing by a ratio of nearly 2-to-1.
Mark DiCamillo, Field research director, said that successful initiatives
usually have a lead of about 2-to-1 in early polling. DiCamillo said the
results of the poll are "very ominous" for Proposition 9. The stranded issue
At the heart of the dispute is what has become known as the "stranded" costs
of the three large privately owned California utilities: San Diego Gas &
Electric, Southern California Edison, and Pacific Gas and Electric. The rates
that the utilities could charge in the past were set by the California Public
Utilities Commission. In exchange, the utilities had little or no
competition, and they were required to serve all creditworthy customers in
their service areas.
The utilities invested in nuclear power plants and, at the direction of
regulators, also made long-term contracts at relatively high rates to ensure
a stable supply of electricity from sources that minimized pollution.
But in a deregulated market, the utilities cannot sell power from nuclear
plants and their long-term contracts at competitive prices. Thus, the
utilities' cost of paying off the debt on their nuclear power plants and
other long-term contracts is said to be "stranded."
The nonpartisan Legislative Analyst's Office said the nuclear-related
stranded costs for the three utilities is about $10 billion. Estimates of
their total stranded costs are as high as $28 billion.
Peace and the backers of the deregulation legislation argue that it would be
unfair and illegal to force the utilities to pay their stranded costs,
because the state changed the rules of the game and the marketplace. A
federal court ruled against a New Hampshire restructuring plan last year that
would not have allowed a utility to recover its stranded costs. The utility's
lawsuit argued that the plan violated the "contracts" and "takings" clauses
of the U.S. Constitution.
The California plan allows the utilities to pay off their stranded costs in
two ways. The utilities received $6 billion from a bond issue that will be
paid off by ratepayers over 10 years, and the utilities can add a Competition
Transition Charge to ratepayer bills until March 31, 2002. Meanwhile, rates
are capped, and the amount of the competition surcharge that could be added
to ratepayer bills shrank or disappeared last summer as energy costs soared.
There is no guarantee that all of the stranded costs will be paid off under
the plan. Pacific Gas & Electric, a Northern California utility with
hydroelectric power sources, is said to have plenty of room under the rate
cap and may recover all of its stranded costs. But some think that San Diego
Gas & Electric and Southern California Edison could fall short of full
recovery. In the view of the backers of Proposition 9, the deregulation
legislation is far too generous to utilities. The consumer advocates say that
the shareholders of the investor-owned utilities should share risk as well as
profits, particularly from the nuclear power plants. Harry Snyder of
Consumers Union said that other states, such as Pennsylvania and Illinois,
are not asking their ratepayers to pay all of the stranded costs of
utilities.
Proposition 9 would prohibit ratepayers from paying most of the transition
costs and all of the bond payments, resulting in a rate reduction of at least
20 percent. A disputed preliminary staff report from the state Energy
Commission estimated that the reduction could be 32 percent. The bond deal
Most of the controversy has centered on the $6 billion bond issue.
After the amount was determined by the Public Utilities Commission, the bond
was issued by private trusts created through the state Infrastructure Bank.
The bond refinances some long-term utility debt at a lower interest rate.
Peace said ratepayers save $1.2 billion on the amount that would be paid on
the debt if there had been no refinancing.
Furthermore, said Peace, the bonds allowed the deregulation legislation to
include a 10 percent rate reduction that took effect last January. He said
the lower rates not only benefit customers, but also thwart unscrupulous
competitors.
"I didn't want a bunch of fly-by-night operators coming in here with all of
the rip-offs that we saw during the deregulation of telephones," said Peace.
But the consumer advocates say that the bond payments will offset most of the
rate reduction, making the alleged short-term savings from the deregulation
little more than a shell game.
"What they did was deny the 10 percent rate reduction," said Lenny Goldberg,
a lobbyist for The Utility Reform Network, or TURN. "We ended up with a rate
reduction of 2 to 3 percent by financing the entire thing and making us pay
for 10 years."
Opponents have been running television ads contending that passage of
Proposition 9 could result in the state -- meaning taxpayers -- paying off
the $6 billion bond, rather than the utilities and their shareholders as
intended by the authors of the initiative.
But many think that the courts, citing long-standing laws covering contracts,
would be virtually certain to overturn the provision in Proposition 9 that
prohibits ratepayers from paying off the bond.
Under the existing deregulation, the bonds are in essence being financed by
ratepayers.
After talking to experts, the Legislative Analyst's Office concluded that the
probability of taxpayers becoming responsible for the bond is "very low." The
possibility is not even mentioned in the analyst's discussion of Proposition
9 in the ballot pamphlet.
One of the co-authors of the initiative, Mike Florio of TURN, conceded at a
legislative hearing that the provision barring ratepayers from paying off the
bond is likely to be overturned in court. If ratepayers are charged for the
bond payments, the initiative has a fallback provision that is intended to
require utilities to reduce their rates to offset the bond payments made by
ratepayers.
Consumer groups drop support
California and other states began to move toward deregulation after a 1992
federal law removed restrictions on the ownership of power-generating
facilities and made it easier for independent power generators to use
existing transmission lines.
Consumer groups and some legislators said that a California Public Utilities
Commission decision on deregulation guaranteed full recovery of stranded
costs and was skewed toward businesses and big customers at the expense of
residential users.
At first, consumer groups welcomed the legislation put together by Peace and
others as an improvement over the PUC's plan.
A four-page letter from TURN and the San Diego-based Utility Consumers'
Action Network expressed some reservations about the plan, but concluded with
these words:
"However, we will not oppose a bill which, under difficult circumstances, has
successfully incorporated a number of the concerns of residential and
small-business customers."
But after more study, Proposition 9 was written by a group of consumer
advocates, including Florio of TURN, Snyder of Consumers Union, and Harvey
Rosenfield, whose Proposition 103 cut insurance rates a decade ago. Backers
of the deregulation legislation accuse the consumer groups of "betrayal" and
breaking a deal, while the consumer advocates denounce the legislation as a
"fraud" and a "rip-off."
Peace and Snyder, who once had a good working relationship, are now
exchanging bitter barbs.
Snyder said of Peace: "He is doing the bidding of the utilities, not the
public, and he is really a disgrace to democracy."
Peace said he has never been so disgusted with political opponents: "It isn't
so much the issue, as it is their total disrespect for truth and for the
process itself."
The consumer groups used a contribution of about $800,000 from the Public
Media Center, a nonprofit organization in San Francisco, to gather the voter
signatures needed to place the initiative on the ballot. Opponents of the
initiative have suggested that the Public Media Center laundered
contributions from out-of-state energy companies and may have exceeded the
political contribution limit for nonprofit organizations. Herb Chao Gunther,
Public Media Center president, said the organization has received no
contributions from out-of-state energy companies. He said the organization,
which grossed $32 million during the last two years, is well within the
contribution limits for nonprofit organizations based on revenue.
"It's the classic defensive posture of trying to make us the issue," Gunther
said of the allegations from Proposition 9 opponents.
Proposition 9
What it does: Changes a state law deregulating the electric industry.
Electric utilities would be barred from charging customers to recover the
cost of nuclear power plants. Customers could not be charged to repay $6
billion worth of bonds issued last year to finance a rate reduction. Requires
a 20 percent reduction in electricity rates, rather than the 10 percent
reduction currently required by deregulation. Arguments for:
{} Privately owned utilities pushed through a deregulation law that allows
them to raise electric rates to pay off their money-losing investments in
nuclear power plants. The bonds used to cover the cost of a phony 10 percent
rate cut would be paid off by private utilities, not consumers or taxpayers.
Consumers would get an honest 20 percent rate cut not covered by back-door
payments to private utilities. A study suggests that rates eventually could
be cut by a third. Supporters:
{} Consumers Union, Ralph Nader, Harvey Rosenfield, The Utility Reform
Network and League of Women Voters.
Arguments against:
{} Taxpayers would be liable for the $6 billion bond repayment, potentially
causing a major cut in funding for schools and other services or a tax
increase. Changing the source of repayment for the $6 billion bond would
jeopardize state and local bond ratings. The plug would be pulled on a
deregulation plan that eventually will produce permanent electricity rate
reductions through a competitive market system. The poorly written measure
would trigger a major court battle. Opponents:
{} California Chamber of Commerce, California School Employees Association,
California Organization of Police and Sheriffs, Environmental Defense Fund,
Planning and Conservation League, California Taxpayers Association,
Democratic and Republican parties.

3 PICS | 1 CHART; Caption: 1. No charge: Proposition 9 would prohibit
utilities from charging ratepayers for much of the cost of uneconomical
nuclear plants,including San Onofre. (A-19) 2. Proposition 9 (A-19) 3. Steve
Peace: "I think it's fair to say Proposition 9 is categorically the most
disingenuous, misleading, anti-consumer proposition ever put on the ballot."
(A-19) 4. Ralph Nader: "Billions of dollars of ratepayer money has been
committed . . . to the outright bailout of uneconomic nuclear and fossil-fuel
plants." (A-19); Credit: 1. FILE PHOTO 2. UNION-TRIBUNE

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

BUSINESS
Only a few unplug | Despite deregulation, 99% of consumers stay with same
power firms
Craig D. Rose
STAFF WRITER

10/13/1998
The San Diego Union-Tribune
1 2 3 6 7 8
C-1
(Copyright 1998)

State Sen. Steve Peace can take credit for co-authoring California's
electricity deregulation bill -- legislation that appeared to revolutionize
the power market and provide an array of choices to consumers. But when it
comes to his own home, Peace hasn't revolutionized anything: His household is
still drawing current from SDG&E.
"Here is where my wife's skepticism is," said the Democrat from El Cajon.
"And she makes the decisions."
The Peace family belongs to a very big club.
About 99 percent of the state's consumers continue to receive electricity
from their local utility, despite the nominally competitive market now in
place. In fact, a full six months after deregulation of the state's $23
billion power industry, the outcome remains short of electrifying. In August,
about 17,000 of the 10 million utility customers switched to a new power
provider. But during the same period, 3,300 switched back to their local
utility.
Overall, about 9 percent of the load in competitive markets has switched to
new providers, with utility companies retaining the 91 percent of the market
they've traditionally held.
If consumers are underwhelmed, would-be competitors also express surprise at
the lack of competition in the newly opened market.
"Of the 300 that signed up (to be new power providers), only five or six are
legitimate power providers," said Frederick Bloom, chief executive officer of
Commonwealth Energy, which claims 39,000 customers. Under California's
deregulation plan, SDG&E and other local utilities have retained their
monopolies over regional power grids. But there is supposed to be competition
in the power-generation business.
Companies registered with the California Public Utilities Commission win the
right to sign up customers and supply power to a state pool in amounts
equivalent to the usage of their customers. And hundreds of companies signed
up to compete.
But the new power companies say that technical hassles and the burden of
paying utilities about $28 billion for their unprofitable nuclear plants and
other investments -- so-called stranded costs shouldered by all ratepayers --
is limiting their ability to truly compete.
Many find they're unable to offer much if anything beyond the 10 percent rate
reduction mandated to all ratepayers under the state's deregulation law.
The payback of stranded costs, meanwhile, has provoked Proposition 9, a voter
initiative that would rewrite terms of the open power market and cancel the
payoff to utilities, while promising deeper rate cuts to small power users.
If smaller users have found little to excite them in the new market, some
larger commercial power users have found savings in the deregulated market.
Collectively, these larger users have switched about 20 percent of their load
to new providers.
A small number of residential consumers also are unplugging from local
utilities for green power, electricity said to be generated by means other
than burning a fossil fuel.
Peace says all this is what he expected.
"This is probably the single most complex transition of any single market,"
Peace said. "I'm stunned by how smoothly it has gone."
But Harvey Rosenfield, a consumer activist leading the effort to pass
Proposition 9, says consumer indifference proves that California's
deregulation is a "total fraud."
"It's a devastating indictment of the way deregulation was crafted by the
Legislature to destroy competition for residential ratepayers," Rosenfield
said.
Either way, deregulation has opened the door to small savings for at least a
few local power users.
The San Diego Association of Governments, which purchased about $40 million
in power annually from SDG&E, hopes to cut about $1 million from its yearly
power bill by purchasing its energy from Commonwealth Energy Corp. in Tustin.
The savings were hard to find.
The association had to twice bid out its power needs before finding a vendor
that could provide savings worth the effort to switch. Even with a vendor in
hand, the changeover has been prickly.
"It's a very detailed process for switching each account," said Steven Sachs,
senior planner with SANDAG. What had been expected to be a 60-day process is
now nearing completion after more than three months, he said. "We hope the
headache was mostly at the front end," Sachs said. "The real issue is that
all local governments have to be in the energy market so it's a great chance
for these people to learn about what is going on." Macy's department stores
in San Diego have also unplugged from SDG&E and contracted for power from New
Energy Ventures.
The department store chain made the switch to save money, said Russ Brown,
energy manager for Macy's Western division, but he declined to discuss the
amount of savings the stores hope to achieve.
"Nobody does this to lose money," Brown said.
New Energy Ventures, which is supplying power to Macy's, meanwhile, touts
itself as the biggest winner in the new market. The Los Angeles-based company
says it's won about 40 percent of the power load now being supplied by
companies other than the major utilities.
The company says the key to its success has been shared-savings contracts
with customers, in which the power company and its customers share the
savings that are achieved through the relationship, said Michael Peevey, the
company's chief executive officer. Smaller users
Peevey noted that such savings are unavailable to residential and small
commercial customers. The automatic 10 percent rate cut plus the stranded
cost payments make it difficult for new companies to compete against the
utilities for smaller power users.
"We look forward to the time (in 2002) when the utilities industry's stranded
costs are paid by customers so that we can begin to provide truly significant
reductions in energy costs for customers," said Peevey. Arthur O'Donnell,
editor of California Energy Markets, a weekly newsletter based in San
Francisco, agreed that the rate cut and the burden of stranded costs has
eliminated the potential for lower prices for most Californians. Attempting
to compete on price under the current market structure can be fatal,
O'Donnell added, who noted that at least three companies competing for
residential customers have already defaulted, unable to deliver the power
they promised consumers and forced to turn their accounts back to utilities.
"That's the first solid evidence of people getting washed out of the market,"
said O'Donnell.
Peace says small customers will have more significant choices in power
company offerings within a few years.
"It was always our preference in the Legislature that the transition to
competition in the residential arena not be pushed fast because residential
customers are vulnerable to scams," said Peace. Moving slowly will allow
residential power users to become more sophisticated about their choice. In
the meantime, he said, small customers have benefited from the 10 percent
rate cut, plus from the boost to the state economy from the savings that
larger companies are achieving in their power bills.
Green power niche
That said, green power has found a niche in the new market, although these
offerings require customers to pay up to 25 percent above the cost of
conventional power. O'Donnell calls green power the most robust sector of the
new market.
Among the leaders in the niche is Green Mountain Energy Resources of Vermont.
The company declines to disclose the number of customers it has signed up
beyond saying it's greater than 10,000 and should exceed 50,000 by year-end.
Douglas Hyde, president of Green Mountain, believes that more than 20 percent
of California's 11 millions power users are potential green power customers.
"The lack of active price competition is not what we expected, but on the
other hand we're convinced the value of the (green power) we bring to the
market will excite people," said Hyde. "We sell cleaner resources to
customers who care about the market."
That customer base may extend beyond what many expected. Edison Source, for
example, a unit of Edison International, has won a contract to supply power
from renewable sources to several of Toyota Motor Sales USA's offices in
California. Other commercial users have also gone green, said O'Donnell. But
any revolution in the California market is unlikely for several years, he
said.
"What has happened is kind of what was expected," O'Donnell said.
"Deregulation was not meant for residential customers."
Trickle but no bolt
A few thousand of SDG&E's 1.2 million customers each month request to leave
the utility for a new power supplier. More than 97 percent have stayed put. A
smaller number each month are filing requests to return to SDG&E. 1997
Leaving SDG&E Returning to SDG&E
Nov. 224 0
Dec. 612 0
1998
Jan. 268 0
Feb. 828 0
March 1,892 12
April 6,878 81
May 1,562 104
June 1,840 143
July 5,074 375
Aug. 5,897 242
Sept. 4,225 2,214*
*2,012 returned to SDG&E because one company defaulted.

1 ILLUSTRATION | 1 CHART; Caption: Trickle but no bolt | A few thousand of
SDG&E's 1.2 million customers each month request to leave the utility for a
new power supplier. More than 97 percent have stayed put. A smaller number
each month are filing requests to return to SDG&E. (C-7); Credit: 1. KRIS J.
LINDBLAD / Union-Tribune 2. UNION-TRIBUNE | SOURCE: SDG&E

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


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