Peggy, that all sounds very goo.  I will attempt to get educated first and then we will set up a meeting.  Thanks for being so cooperative.

From:	PEGGY FOWLER/ENRON@enronxgate on 05/09/2001 11:18 AM
To:	Stanley Horton/Corp/Enron@Enron
cc:

Subject:	Re: Business Review

I agree that makes a lot of sense, that is certainly where we are spending our
time, and good management of that so far, is what is contributing to earnings
higher than expected....that and the crazy California markets. We're always
glad to have you visit, and could provide a detailed discussion if that's what
you would prefer. We are spending a great deal of time on this in the sales
presentations and have a number of overheads, and some written information
that we use in our position meetings that we could send to you to start with.
The rate case is in a very dynamic state, but we believe moving in right
direction. The power position is in constant review based on projected loads,
demand side management opportunities, and blocks of energy available at
reasonable prices in the future for our customers. We are still operating
under an obligation to serve, as we don't see that changing anytime in the
near future and those utilities in the west that have gotten in trouble are
those who haven't provided for customers. Commissions seem to be giving rate
increases for increasing prices if prudent management was attempted, but not
just for stopping based on possible belief of dereg. We have a sharing
mechanism right now that shares risks and rewards between customers and
shareholders. During this sales process we had spent a lot of time working
through with Sierra on this, and now with the new possible buyers. Most like
it when they finally understand. It is not regulation 101, it is very complex
and leading edge, but get the risks and rewards aligned much better for
shareholdes and customers. Doesn't fit Enron's view of dereg, but Oregon will
not get to Enron's view anytime soon, especially with California situation,
and it's not just Oregon regulators, it's Oregon customers including the
industrials that are  reliability sensitive like high techs and health care.
Sorry for the long note....how about if I start by sending you some
information from presentations, and then we can look at schedules for when a
meeting might work. You might even want to come to one of the banker
presentations. Mark M and Mitch were both in Seattle yesterday, and could
share with you some of the discussion related to these subjects. Mitch thought
we might have another in a week or so.....

>>> Horton, Stanley 05/08/01 09:37AM >>>
After returning home and reviewing the material handed out at the PGE business
review, there are two areas that I think I need to understand better.  The
first is PGE's energy positions going forward and the financial exposures to
changing prices.  The second is the rate case.  I would be happy to return to
Portland to get a more in depth review with a much smaller cast of players.  I
am open to suggestions from you.

Given the status of the divestiture process, Jeff wants to make sure he (and
subsequently I) have a good handle on these two important issues.

Thanks!


Dan;

Thanks for your note concerning the subject agreement.  I'm wondering if it
might be more straightforward if we just replace the affected sections of
the form of contract Enron previously provided. ( In preparing the suggested
changes I followed the structure (and headings) of that form.)   With
respect to "OTHER TERMS",  I suggest that the first three paragraphs in the
last version could be replaced.

The suggested changes are reproduced below for ease of reference and use.
Note that the final paragraph anticipates the insertion of a Contract Number
by Enron.

 Regards;

 Michael Kleiner
 Law Department

TIER OF GAS:  As specified in OTHER TERMS, below.
DCQ (IN MMBTUS):  An amount between 0 MMbtu per day and 20,000 MMbtu per
day, as specified in OTHER TERMS, below.
DELIVERY POINT:   The interconnect of ANR Pipeline Co. (Joliet) and Alliance
Pipeline Limited  ("Alliance") provided that Customer will use reasonable
efforts to arrange deliveries to alternate downstream pipelines as Company
may request in accordance with the procedures specified in OTHER TERMS,
below.
.........
OTHER TERMS:

In this Agreement, "Customer's AOS" shall mean Customer's right to utilize
Authorized Overrun Service on Alliance by virtue of that agreement between
Customer and Alliance providing Customer with 51.1 MMcf per day of Alliance
firm capacity, but does not include Customer's right to utilize Authorized
Overrun Service that is announced as available to Customer after 9:00 am
Mountain Time on the Nomination Day; and

"Gas Day" has the meaning given to that term in the U.S. tariff for Alliance
pipeline.

"Nomination Day" means the business day immediately preceding a particular
Gas Day.

On each Nomination Day, by  9:00 am Mountain Time  Customer will advise
Company by telephone or voice mail whether Customer will deliver and sell
gas hereunder on the next Gas Day and the amount to be delivered in MMBtus .
That amount shall be the DCQ for the next Gas Day, in all other
circumstances the DCQ will be zero.  The decision to sell and deliver gas
hereunder shall be within Customer's sole discretion, however, Customer
agrees that it shall not utilize Customer's AOS to deliver gas to a buyer in
Chicago except to Company pursuant to this Agreement, provided that Customer
may utilize Customer's AOS for operational purposes such as and including
balancing its Alliance account.

Once DCQ for the next Gas Day has been determined as provided in the
preceding paragraph such gas shall be considered to be Tier 3 Firm Gas and
the Force Majeure provision of the Enfolio Spot General Terms and Conditions
shall not apply to such deliveries.

By 9:45 am Mountain Time on each Nomination Day  that the DCQ for the next
Gas Day is not zero, Company shall advise Customer in writing or via e-mail
of the contract numbers, associated gas volumes, and alternate downstream
pipelines, if any,  where it wishes to have the DCQ allocated on the next
Gas Day. If Company fails to provide such advice in respect of the entire
DCQ  by 9:45 am,  Company will be conclusively deemed to have allocated the
entire DCQ to Contract No. ______________.   Promptly thereafter, Customer
will place a nomination with Alliance in accordance with such allocation.

 -----Original Message-----
 From: Dan.J.Hyvl@enron.com [SMTP:Dan.J.Hyvl@enron.com]
 Sent: Monday, February 12, 2001 7:43 AM
 To: Kleiner, Michael
 Cc: Grant.Oh@enron.com
 Subject: RE:Enron/Crestar AOS purchase and sale agreement

 Michael,
      Grant Oh of the Calgary office seems to be okay with your
requested
 modification of the interrruptible spot confirm.  As such, please
prepare
 an amendment document to add your language as an Appendix to the
terms of
 the spot confirm, have it signed and forward to Grant Oh and myself
for
 approval.  Thereafter we will have it signed and by Enron and will
return a
 fully executed copy to you.

                     Grant Oh

                                          To:     Dan J
Hyvl/HOU/ECT@ECT
                     02/12/2001           cc:     Barry
Tycholiz/NA/Enron@ENRON
                     07:33 AM             Subject:
RE:Enron/Crestar AOS purchase and
                                          sale agreement(Document
link: Dan J Hyvl)

 Dan, Bruce Kohrs of Keyspan left me a message this weekend with
respect to
 the schedule 'A' that they would like attached.  Assuming that the
central
 desk has agreed to the contents of schedule 'A' - and they have been
 involved in drafting this document - I don't see a lot of commercial
risk,
 especially given the lack of 'damages' in the event of any defaults
to
 schedule 'A'.  My understanding was that we would all work together
on a
 reasonable efforts basis to allow gas to flow daily.  They contents
of
 schedule 'A' and its true enforceability does not seem to really
change the
 spirit of the agreement.
 If they are really adamant about including the schedule 'A', and the
 central desk has reviewed and expressly agreed to its contents, then
I
 would not object to including the schedule 'A' as part of the
contract.

 Grant

 Dan J Hyvl
 02/02/2001 11:56 AM

 To:   Grant Oh/CAL/ECT@ECT
 cc:
 Subject:  RE:Enron/Crestar AOS purchase and sale agreement

 Grant,
      Now they want us to consider it.
 ----- Forwarded by Dan J Hyvl/HOU/ECT on 02/02/2001 11:55 AM -----

             "Kleiner, Michael"

             <Michael.Kleiner@Crestar-Energy.co        To:
"'Dan.J.Hyvl@enron.com'"
             m>
<Dan.J.Hyvl@enron.com>
                                                       cc:
"Kohrs, Bruce" <Bruce_Kohrs@gulf.ca>
             02/02/2001 11:22 AM                       Subject:
RE:Enron/Crestar AOS purchase and
                                                      sale agreement

 Attn: Mr. Dan J. Hvyl

 We are wondering if you received our fax of January 30, 2001 and if
so
 whether you have had an opportunity to consider it.

 Gulf Canada Resources Limited

 Per: Michael Kleiner,  Law Department
 (403) 233-3330


That's ok.  I need to buy back  the gas CES is not taking.  I think that will
be easier to do after the month is over.  I will calculate the volume and
pricing in a worksheet and just enter a buy and a sale with CES on the last
day of the month.

Joe A Casas
03/21/2000 04:16 PM
To: Tricia Bowen/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
cc:
Subject: DPL OFO ISSUED

Chris, do u want me 2 change the dpl tkt?

---------------------- Forwarded by Joe A Casas/HOU/ECT on 03/21/2000 04:15
PM ---------------------------

knovsek@columbiaenergygroup.com on 03/21/2000 03:29:00 PM
To: " - *jcasas2@enron.com" <jcasas2@enron.com>, " -
*Steve.Gillespie@enron.com" <Steve.Gillespie@enron.com>
cc: " - *Stiles, Marianne" <mstiles@columbiaenergygroup.com>
Subject: DPL OFO ISSUED

DPL has issued an OFO for Thursday the 23rd and Friday the 24th.  I will need
to adjust my volumes as follows:

23rd - cut volume of 1203 to 883 dth on TGT K# 6057

24th - cut volume of 1203 to 823 dth on TGT K# 6057

Effective the 25th - 31st, please keep my volumes at 1203 dth per day.

DPL may revise the OFO - in the event of a revision, Marianne Stiles is aware
of the changes that need to be made.  I will be out of the office Wed.
afternoon and all day Friday.


Ok on Sachs

I think that's a real problem with their money - how much each and how are the people?  Essentially - how material?

 -----Original Message-----
From: 	Oxley, David
Sent:	Tuesday, February 05, 2002 4:06 PM
To:	Kitchen, Louise; Whalley, Greg
Subject:	Two things

Credit
Bill may want to do a contract for Sachs at around 20/20. He's thinking about it and will let me know. Apparently RWE are chasing him.

NETCo ee's with nearly 5 years service at Enron
We have about 10 people who had they stayed at Enron estate for another 30 - 60 days would have vested in the Enron pension plan (cash-balance plan). We have tried to find some way to make something work here, but as it stands it looks like the are going to have to transfer on 8th of Feb and forfeit whatever was in this plan (roughly 5% of base salary per year and it is a 5 year service vesting arrangement). You may hear some noise.

David


Chris, can you attend this?

---------------------- Forwarded by Hunter S Shively/HOU/ECT on 06/21/2000
10:18 AM ---------------------------

Thomas Araujo @ ENRON

06/21/2000 09:41 AM
To: Judy Barnes/HOU/ECT@ECT, Rebecca Ford/HOU/ECT@ECT, Jeff
Harbert/HOU/ECT@ECT, Kenneth M Harmon/HOU/ECT@ECT, Willie
Harrell/HOU/ECT@ECT, Cindy Horn/HOU/ECT@ECT, John Jacobsen/HOU/ECT@ECT, Karie
Hastings/HOU/ECT@ECT, Nanette Kettler/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT,
David Oliver/HOU/ECT@ECT, Rajib Saha/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT,
Robert Richard/Corp/Enron@ENRON, Hunter S Shively/HOU/ECT@ECT, Geoff
Storey/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, Thomas
A Martin/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, David Oliver/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, Jay
Knoblauh/HOU/ECT@ECT, Theresa Staab/Corp/Enron@ENRON, Kam Keiser/HOU/ECT@ECT
cc: Stuart Reed/LON/ECT@ECT, Joel Henenberg/NA/Enron@Enron
Subject: MKM Demo

I  spoke with some of you concerning the Market Knowledge Management (MKM)
project.  At this time, we would like to demonstrate the MKM pilot  to you.

To refresh your minds, MKM is a one-stop shopping for market data and
associated activities.  The project is done in collaboration between two
groups in Houston and one in London.  In November/December 1999 some of you
took part in user forums to discuss the feasibility of a one-stop shop for
market data

Background:
The intention is that all existing systems (i.e. various databases and
services) will be linked through a common infrastructure that will allow all
these systems to provide the services they have always provided plus a set of
standard services, such as:
Security
Data Validation
Notification
Auditing, and
Calculation.

In addition, it will allow client applications to ask MKM for the data and
services they need instead of going to individual systems.  The point here is
that the user (or application)
will not need to know where the data resides, and
will have a uniform level of services across all systems

Demonstration:
A pilot was developed to prove the underlying technology and to provide users
a simple demonstration of the product to derive exact user requirements.

The demo will include the following components:

Browser: provides a user interface for publishing and retrieving a limited
selection of price and volume data for gas and power busines units;
Time Series Index: stores time series metadata;
Message Station: an inbox which holds inbound time series data;
TIBCO messaging backbone: underpins MKM and is transparent to the user;
and Connectivity to two market data servers:- LIM (Houston) and PR1P(London).

The remaining components will be delivered in following phases.

I would like to take this opportunity to invite you to demo of the product.
I would like to schedule the demonstration for Friday, June 23 at 1:00.
Could you also RSVP me.  I am also attaching a document which will give you
more information of the MKM project.    If you cannot meet me on the
suggested date, I can you a demo of MKM at your desk at your convenience.  If
you would like to go through the browser, the web address is
http://test-mkmtimeseriesindex.enron.co.uk/default.asp?canregister=true.  Use
your network id and password to gain access to the web site.  If you have any
questions please call me at 35733.

Thank you in advance,
Thomas


Can you handle or should Carol?
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 03/16/2001
09:32 AM ---------------------------
From: Veronica Gonzalez/ENRON@enronXgate on 03/15/2001 04:37 PM
To: Sara Shackleton/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT
cc:
Subject: Perfercting Monies for Canadian Counterparties

The legal counsel at Sempra would like to contact someone in our office
regarding "perfecting monies" for Canadian counterparties when posting
collateral.  Who should I have him call?

Please advise.

Veronica Gonzalez
Credit Analyst
ext 3-0511


Jim, thank you for the message.  I have forwarded it to Rich Dimichele of Enron Broadband and will continue to keep Reagan in mind for any opportunities in the San Francisco area of which I become aware. All the best. Jim

 -----Original Message-----
From: 	"jim rylander" <rylanderj@home.com>@ENRON [mailto:IMCEANOTES-+22jim+20rylander+22+20+3Crylanderj+40home+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Friday, April 06, 2001 9:21 AM
To:	Derrick Jr., James
Subject:	Fw: rylander  job search

jim-per our discussion.    thanks!

> > > -----Original Message-----
> > > From: Reagan Rylander
> > > To: Rylander, Jim
> > > Sent: 3/6/01 1:32 AM
> > > Subject: job search
> > >
> > > In response to the economic downturn, I am widening my
> > > job-search net to include several types of positions
> > > at several types of technology-related companies in
> > > one location: San Francisco (also Oakland, San Mateo,
> > > San Bruno, Burlingame, Emeryville, Sausalito, Marin,
> > > Berkeley).
> > >
> > > Experience: I received my MBA from Duke's Fuqua School
> > > of Business in May, 2000 and have a work background in
> > > International Logistics/Transportation and Information
> > > Technology.
> > >
> > > Desired Positions: Business Development, Product
> > > Management, Product Marketing positions
> > >
> > > Desired Company Types:
> > > 1) International Logistics/Transportation
> > > (DHL, APL, ?)
> > > 2) Supply Chain/Logistics/eProcurement Technology
> > > (Ariba, iCargo, Rapt, Speedchain, Pakana )
> > > 3)Wireless Technology companies
> > > (Brience, Mobilesys, Openwave, IPWireless)
> > > 4) Larger Technology companies (BMC-type):
> > > (BEA, Webmethods)
> > > 5) Internet marketplaces in music & A/E/C industry
> > > (citadon)
> > >
> > > Some other interesting companies in SF include Avasta,
> > > Kenamea, macromedia, Gap, Levis
> > >
> > > Thanks!
> > > Reagan
> > >
> > >
> > > __________________________________________________
> > > Do You Yahoo!?
> > > Get email at your own domain with Yahoo! Mail.
> > > http://personal.mail.yahoo.com/
> > >  <<rylander resume.doc>>
> > >           ++++++CONFIDENTIALITY NOTICE+++++
> > > The information in this email may be confidential and/or privileged.
> This
> > > email is intended to be reviewed by only the individual or
organization
> > > named above.  If you are not the intended recipient or an authorized
> > > representative of the intended recipient, you are hereby notified that
> any
> > > review, dissemination or copying of this email and its attachments, if
> > any,
> > > or the information contained herein is prohibited.  If you have
received
> > > this email in error, please immediately notify the sender by return
> email
> > > and delete this email from your system.  Thank You
> > >
> >
>

 - rylander resume.doc << File: rylander resume.doc >>


Please send the ISDA to Ron's attorney also.

Foley & Lardner
Firstar Center
777 East Wisconsin Avenue
Milwaukee, WI  53202-5367
Attn: Michael D. Regenfuss

email: mregenfuss@foleylaw.com

If you have any questions, do not hesitate to contact me.

JBB


How's it going?  I'm sure busy and great.  Good luck with the ice men--I
still think you should cut something.  I'm excited to finish unpacking this
weekend, and just relaxing a little.  If you're not completely wiped on
sunday, give me a ring.  Oh, could you wear your new party pants tuesday to
my house?  Great, thanks.
Have fun!

Jeff


This is an ad created for use in the Ontario market and would include the
logos of the signatory companies (rather than individual signatures).Aleck
Dadson worked with GPC on its creation.  It is part of the total plan, which
includes Ken Lay's visit to Toronto April 4 to meet with media and government
leaders.

Give me your thoughts.

Eric

---------------------- Forwarded by Eric Thode/Corp/Enron on 03/16/2001 08:42
AM ---------------------------

"Jacob, Sasha" <SJacob@GPC.CA> on 03/15/2001 02:23:24 PM
To: "'eric.thode@enron.com'" <eric.thode@enron.com>
cc:

Subject: Proposed Ad

Eric:

As requested by Aleck Dadson, please find attached a copy of an open letter
to the Premier of Ontario which we are proposing be placed as an ad in the
National Post and the Globe & Mail next week. It is our intention to have
the letter signed by a group of energy stakeholders including Enron,
TransAlta, ATCO, Toronto Hydro, Mississauga Hydro, Dynegy, The Toronto Board
of Trade, The Ontario Chamber of Commerce, the Independent Power Producers
Society of Ontario, etc.

 <<Open Letter.doc>>

Sasha Jacob
GPC International
sjacob@gpc.ca
Ph:  (416) 598-0055
Fx:  (416) 598-3811
www.gpcinternational.com

*******************************************************************
This email message has been swept by MIMEsweeper
for the presence of computer viruses

Ce courrier a fait l'objet d'un balayage antivirus au moyen
du logiciel MIMEsweeper
*******************************************************************

 - Open Letter.doc


This e-mail is confidential and may well also be legally privileged. If you
have received it in error, you are on notice of its status.  Please notify us
immediately by reply e-mail and then delete this message from your system.
Please do not copy it or use it for any purposes, or disclose its contents to
any other person:  to do so could be a breach of confidence.  Thank you for
your co-operation.  Please contact our
IT Helpdesk on +44 (0) 20 7936 4000 Ext.2000 or email ITHelp@freshfields.com
if you need assistance.

Kent
In answer to your question as to when the GE opinion should be dated, it
should be dated the execution date of the Turbine Contract, which I believe
will be tomorrow, May 2.  Please could Carolyn, Kay or Greg let Kent and
myself know if the Turbine Contract will be dated a date other than May 2.
Thanks
Isabel

Isabel Parker
T  +1 212 277 4025
F  +1 212 277 4001
E  isabel.parker@freshfields.com
520 Madison Avenue
34th Floor
New York, NY 10022
www.freshfields.com


Grid Lock Our energy transport system is horrible. Just the way many
utilities like it.
Forbes, 05/11/01

US Sen. Feinstein Urges Hearings On FERC 'Improprieties'
Dow Jones Energy Service, 05/11/01

U.S. Physical Gas Cash Prices Fall; No Load Weekend
Dow Jones Energy Service, 05/25/01

FOCUS Brazil real to remain pressured due to energy crisis/political concerns
AFX News, 05/25/01

Vice Pres Cheney Sees Wood As New FERC Chairman - NYT
Dow Jones Energy Service, 05/25/01

INDIA: Enron's woes make Indian power firms anxious.
Reuters English News Service, 05/25/01

Enron Unit's Sales, Costs Rise With Power Prices, Paper Says
Bloomberg, 05/25/01

India Enron Panel Lacks Authority to Solve Dispute, Expert Says
Bloomberg, 05/25/01

Companies People Ideas
Grid Lock Our energy transport system is horrible. Just the way many
utilities like it.
BY Daniel Fisher and Lynn Cook

06/11/2001
Forbes
080
Copyright 2001 Forbes Inc.

Our energy transport system is balkanized and horribly inefficient.
Unfortunately, many of the incumbent utilities want to keep it that way.
The Bush energy plan hits hard on increasing production. That alone won't
solve the nation's power crunch. "Supply is not the only issue," says
Michelle Michot Soss, director of the Energy Institute at the University of
Houston. "The issue is bottlenecks."
Some of these bottlenecks are political. A lot of them are created by
incumbent utilities that do not welcome competition.
Florida, for example, whose demand for electricity is growing at about 3.7% a
year, is a net importer of energy. It generates around 24% of its power in
aging oil-fired plants that should be replaced with more efficient
combined-cycle generators. These burn natural gas in a turbine and use the
hot exhaust gases to create steam, which spins a second turbine; they spew
out less particulate and consume about a third less energy.
So why doesn't Florida get efficient power plants? First, the state has only
one main gas pipeline, though others are working their way through the
regulatory process. More vexing is a state law, zealously defended by Florida
utilities, that bans outside competitors from building combined-cycle plants
larger than 75 megawatts--enough to juice 75,000 households--on the dubious
theory that they waste water. Duke Energy tried to challenge the law with a
500-megawatt plant in New Smyrna Beach. FPL Corp. (parent of Florida Power &
Light) fought the plant all the way to the Florida Supreme Court and won.
Florida's screwy power-plant law is just one example of the byzantine
regulations that stymie efforts to make the nation's energy grid more
efficient and prices more competitive. From laws that protect utilities
against more efficient rivals to outdated state regulations that discourage
the construction of transmission lines, these choke points either waste
energy or make it impossible for energy to get where it should go.
A series of state laws in the 1920s laid down the monopolies on grids. They
were codified in the Public Utility Holding Company Act of 1935, a populist
law that identified bigness with badness in the electricity business: To
avoid federal scrutiny and regulation, most utilities decided not to operate
outside their own state boundaries; rate setting fell to the states. But even
as wholesale electricity markets have been deregulated, utilities can still
bat away outsiders by reserving their own transmission lines for "native
load." This allows them to keep an open lane on the energy highway, as it
were, to rush electricity to certain customers when their demand suddenly
spikes.
In such areas as the Southeast, the owner of a transmission line has a pretty
free hand in calculating what its native load is. So Southern Co., which owns
utilities in Georgia and four neighboring states, can determine how much
power to let into its territory.
Southern Co. defends the rule, saying its primary job is ensuring customers
get all the power they need. "The marketers would like to schedule another
10,000 megawatts of power to go across our lines tomorrow," says William
Newman, a senior vice president. "It's not going to happen. The system wasn't
designed for it."
Enron disagrees. Utilization of its natural gas pipeline system increased 50%
in the five years after the gas market was deregulated. Steven Kean, head of
government regulations at the Houston-based giant, thinks similar gains are
possible in electricity if companies like Southern are forced to hand over
control of the grid to independent regional boards that will determine how to
allocate power flows and where to build new lines. The utilities "don't want
to accept the economically pure solution," he says. "Once utilities have been
adequately compensated for their stranded costs, then it's time for them to
shut up, sit in the corner and let the economists and lawyers work out the
details."
Lawyers and economists making decisions for us? That doesn't sound like
deregulation. But there is a case to be made for separating control of power
lines from control of other utility assets. Phillip G. Harris is chief
executive of PJM (it stood for Pennsylvania-Jersey-Maryland), a regional
power line organization. Since this independent system operator was formed in
April 1997 and six local utilities ceded control over transmission lines,
reliability has gone up and prices down, he says. Where Southern Co. will
only add transmission capacity if it has a firm contract in hand, PJM can
order lines to be built. Its member companies are spending $311 million over
the next three years on new lines to increase the flow from power-rich to
energy-poor areas.
Last May temperatures hit the highest levels since 1930 at the same time as
15,000 megawatts of PJM's 59,000 megawatts were out of service for
maintenance. As the peak load rose to 51,000 megawatts--7,000 more than was
available within PJM--power streamed in over a dozen entry points. Prices
topped out at $432 a megawatt hour. That's about four times what you are
probably paying for residential service, but it stands in contrast to spikes
in the thousands of dollars in California and the Midwest during similar
crises.
Unfortunately, what works inside PJM doesn't transfer to Los Angeles, much
less to Manhattan. Different rules regarding electricity transactions and a
shortage of transmission lines make it difficult to export electricity across
the Hudson River. When Hydro-Quebec tried to build a power line across Long
Island Sound in 1999, Connecticut nixed the idea. Ostensible reason: the
possibility of harm to oyster beds. Real reason: Folks in New Haven asked,
what's in it for us--and didn't see any clear benefit to them. There is,
unfortunately, no mechanism for buying off losers in these deals, such as
property owners near, but not under, the power line. So they hire lawyers and
talk solemnly about oysters.
California's bottleneck is on Path 15, a 500,000-volt transmission line that
links the northern and southern halves of the state. Path 15 can't
accommodate the flows of power needed when the weather is cool in San
Francisco and hot in L.A. But the legal and financial chaos in California,
with the state on the verge of taking over much of the transmission system,
discourages investors from backing an increase in capacity. "If we put in
good rules on how to operate transmission systems, you would see investment,"
says Lawrence Makovich, an analyst with Cambridge Energy Research Associates.
"The problem is right now there is no such plan."
Enron is trying to force the Federal Energy Regulatory Commission to take
charge, so far to little avail. In a case pending before the U.S. Supreme
Court, Enron accuses FERC of abdicating its responsibility to do for
interstate trading of electricity what it did for trading of gas.
But forcing FERC down that path will be difficult. Natural gas producers
needed interstate pipelines to get to big markets in the North, which needed
the gas. But incumbent (and politically connected) electric companies have no
such incentive to stimulate a national market in electricity. "There's not a
single incentive in the entire U.S. to relieve congestion," states Jeanine
Hull, president of Strategic Energy Advisors and a former power-company
lawyer. "Ask yourself this question: If you had a chance today to retain your
monopoly or compete, which would you choose?"

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

US Sen. Feinstein Urges Hearings On FERC 'Improprieties'

05/25/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -(Dow Jones)- U.S. Sen. Dianne Feinstein, D-Calif., called Friday
for Senate hearings to investigate "possible improprieties" involving the
Federal Energy Regulatory Commission's relations with the industry it
regulates.
"Despite evidence of manipulation and price gouging in both the electricity
and natural gas markets in California and the West, and a finding by FERC
last November of 'unjust and unreasonable' (electricity) rates, the
commission has failed to take the actions necessary to bring reliability and
stability to the marketplace," Feinstein said in a letter to Sen. Joe
Lieberman, D-Conn., seeking hearings by the Senate Governmental Affairs
Committee.
Feinstein cited a report in The New York Times Friday in which FERC Chairman
Curt Hebert related a phone conversation with Ken Lay, chairman of Enron
Corp. (ENE). Hebert alleged that Lay offered to bring his influence to bear
with the Bush administration to maintain Hebert as chairman if the regulator
would adopt policy positions favored by Enron.
Hebert is quoted as saying he was "offended" by the conversation. Lay
disputed Hebert's account.
The Times article also quoted Vice President Dick Cheney as saying Texas
utility regulator Pat Wood has "got to be the next chairman of the FERC" to
address problems in electricity markets. Cheney's remark is slated for
broadcast by the public television program "Frontline."
"While Mr. Lay's account (of the conversation) differs, it is clear that the
citizens of the United States, especially the people of California, who are
suffering from FERC's failure to do its job, deserve an investigation and
full public hearing into what happened," Feinstein said in the letter to
Lieberman.
"FERC is a $175 million-a-year agency charged with regulating the energy
industry, and it would be unconscionable if any of the nation's electricity
traders or generators were in a position to be able to determine who chairs
or becomes a member of the commission," Feinstein wrote.
"Since FERC has refused to fulfill its legally mandated function under the
Federal Power Act to restore 'just and reasonable' electricity rates, we need
to ask whether undue influence by the companies that FERC regulates has
resulted in its failure to act," the letter said.
Feinstein seeks a broad investigation into FERC, and not just an airing of
the Lay-Hebert exchange, which Feinstein said she sees as an example of "a
definite problem," the senator's spokesman, Howard Gantman, said.
"There are very close relationships between FERC and the industry it
regulates. Some of those relationships could be improper," Gantman said.
Lieberman, who has requested that the General Accounting Office investigate
FERC's response to the California electricity crisis, will become chairman of
the Governmental Affairs Committee when Democrats assume the Senate majority
in about two weeks.
There was no immediate response from Lieberman's office regarding Feinstein's
letter.
-By Bryan Lee, Dow Jones Newswires, 202-862-6647, bryan.lee@dowjones.com

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

U.S. Physical Gas Cash Prices Fall; No Load Weekend

05/25/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- U.S. natural gas physical prices fell Friday ahead of a
no-load holiday weekend, widening considerably the differential to the New
York Mercantile Exchange futures board.
Traders saw storage buying providing the only hint of demand.
Also, several pipelines in Texas, along with El Paso's Tennessee Gas and PG&E
Citygate, held system-wide operational flow orders on the high inventory
resulting from storage. Those orders also sent prices downward, traders said.
Demand remains slight with only hints of sustained hot weather sighted in the
next two weeks,traders said.
With few demand fundamentals in place, traders saw few utilities in the
market.
The Nymex June futures contract settled at $3.973/MMBtu, down 8.1 cents, the
first time the front contract has fallen below $4/MMBtu in nearly 10 months.
Traders pointed to 17,000 option puts at $4/MMBtu supporting the June
contract. Options expired Friday; the June contract expires Tuesday after the
Memorial Day weekend. Traders expect a $3.80-$4/MMBtu range on Tuesday for
expiration.
Also, Enron Online will keep its trading boards open for the holiday.
Prices for the June contract are in the same range as they were a year ago,
when driving heat and competition for gas during May pushed prices upward.
At the benchmark Henry Hub in south Louisiana, prices were in a
$3.76-$3.90/MMBtu range, down 25 cents-35 cents.
Deals at Transcontinental Gas Pipe Line Station No. 65 were done at
$3.82-$3.94/MMBtu, down 25 cents-32 cents.
At the Arizona-California border, El Paso's prices fell $1.40-$2.55/MMBtu to
a $9.80-$11.50 closing range. Western electricity prices weakened again
Friday for the holiday, and traders said pipelines into California were
showing high inventories.
At the PG&E Citygate, prices fell $4.25-$5.50 to a $3.90-$4.40/MMBtu closing
range on the reported operational flow order.
Buyers paid $3.74-$3.90/MMBtu at the Katy hub in East Texas, down 23 cents-32
cents. At Waha in West Texas, buyers paid $3.59-$3.75, down 30 cents-39
cents.
-By John Edmiston, Dow Jones Newswires,713-547-9209;
john.edmiston@dowjones.com

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

FOCUS Brazil real to remain pressured due to energy crisis/political concerns

05/25/2001
AFX News
(c) 2001 by AFP-Extel News Ltd

SAO PAULO (AFX) - The real is likely to remain under pressure in the
short-to-medium term due to concerns about the impact of the energy shortage
crisis on the economy and ongoing political worries, analysts said.
They said the energy shortage problems are scaring away direct foreign
investment, while political concerns ahead of the presidential elections next
year are expected to come much more to the forefront once the Argentine debt
swap operation is completed at the start of next month.
The real was at 2.3480 against the dollar in afternoon trade, down about 20
pct from the end of last year.
Analysts said the weakness of the real combined with a generally-accepted
slowdown in GDP growth as a result of the energy crisis has complicated the
task of the central bank's monetary policy committee Copom.
The Copom raised its base interbank Selic rate to 16.75 pct from 16.25 pct
earlier this week, in what was regarded by many analysts as a preventive move
against the inflationary impact of the real's depreciation.
In a recent report, Banco Santander Central Hispano SA said it has revised
its forecast for Brazil's 2001 GDP growth to 2.2 pct from 4.1 pct previously
due to the possible impact of the government's energy rationing plan.
BSCH said it is also cutting its 2002 GDP growth estimate to 3.0 pct from 4.5
pct previously.
BSCH also revised its forecast for the real's level against the dollar to
2.30 by end-2001 from 2.13.
"Argentina's problems and their effects on the flow of capital to Brazil...
added to energy rationing and stronger perceptions of political risk hinder a
significant appreciation of the real, although we consider a possible gradual
solution to the Argentine crisis," BSCH said.
Analysts said central bank intervention yesterday and today in the foreign
currency market in an effort to stem the real's depreciation is clear
evidence of the central bank's concerns about the local unit.
The central bank today sold 2.0 mln dollar linked-bonds maturing on March 14,
2002 after selling 1.0 mln dollar-linked bonds yesterday.
"We don't know how far the real will go. Everything points to a situation in
which the dollar will move to the 2.45 level against the real in the short
term and never return to the 2.0 level it was at at the start of the year,"
Brazilian Institute of the Economy (IBRE) director Renier Garcma said.
Direct foreign investment has slowed down this year as a result of the
concerns surrounding Brazil.
The government has already revised its estimate of direct foreign investment
in Brazil this year to 19 bln usd from 24 bln previously. Direct foreign
investment in the four months to April was 6.6 bln usd, about half the levels
posted a year earlier.
Enron Corp recently suspend investments of 600 mln usd in the Brazilian
energy sector, citing regulatory concerns, while the government decided to
postpone indefinitely the privatisation of Cia Energetica earlier this month
due to the energy crisis.
The minimum price for the sale of Cesp Parana was set at 1.7 bln reals, with
a number of foreign companies lined up to bid.
"Investors are shying away from carrying out operations in the country. The
energy crisis has had a disastrous impact on Brazil's image; the country risk
has risen and companies are opting for saver markets," IBRE's Garcma said.
Analysts said the energy crisis has strongly affected the image of President
Fernando Henrique Cardoso and has therefore strengthened the opposition's
position ahead of next year's presidential elections.
They said corruption allegations involving former and current senior
officials in the government and the alleged breach of vote secrecy rules at
the Senate resulting in proceedings for the dismissal of former Senate
chairman Antonio Carlos Magalhaes and senator Jose Roberto Arruda have
complicated the political scenario.
Yesterday, Senator Arruda resigned from the Senate, while a local TV news
channel reported Magalhaes will resign next week and attack Cardoso.
"The government seems to have lost direction," one analyst said.
Earlier this month, Congress rejected a petition presented by the left-wing
Workers Party (PT) to set up a joint Congress-Senate commission to
investigate corruption in the private and public sectors after 20
parliamentarians belonging to parties within the ruling coalition withdrew
their support for the motion.
Opposition deputy Aloizio Mercadante at the time said the PT was preparing
legal action against the government and the deputies who withdrew their
support for the petition, alleging they were offered financial incentives to
do so.
Analysts said fears remain that the opposition will attempt to revive the
corruption commission issue, further complicating the governability of the
country in an already delicate moment.
bl/cdo/lbc/as For more information and to contact AFX: www.afxnews.com and
www.afxpress.com

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

Vice Pres Cheney Sees Wood As New FERC Chairman - NYT

05/25/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -(Dow Jones)- Vice President Richard Cheney expects Texas Public
Utilities Commission Chairman Pat Wood to become chairman of the Federal
Energy Regulatory Commission, according to Friday's New York Times.
In an interview for an upcoming episode of the PBS series Frontline, Cheney
says, "Pat Wood's got to be the new chairman of the FERC, and he'll have to
address" various problems in electricity markets, according to the Times
article, part of a joint effort with the Frontline program.
The article says current Republican FERC Chairman Curtis Hebert received a
call from Enron Corp. (ENE) Chairman Kenneth Lay this year prodding him to
back a national push for retail electricity competition and faster access to
the power transmission grid in exchange for Enron's support of Hebert in his
new job.
It quotes Hebert as saying, "I was offended."
Lay, one of President George W. Bush's largest campaign contributors,
provided the White House with a list of preferred candidates for FERC posts
and had access to the White House energy policy task force chaired by Cheney,
the article says.
Wednesday the Senate Energy and Natural Resources Committee approved Wood and
Nora Brownwell of the Pennsylvania Public Utilities Commission, Bush's
nominees to fill two empty seats on FERC's five-member board. The full Senate
has yet to approve them.
It would be up to the president whether to replace Hebert as chairman. In the
Times article, Hebert said no one has told him he would be replaced.
-By Campion Walsh, Dow Jones Newswires; 1-202-862-9291;
campion.walsh@dowjones.com

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

INDIA: Enron's woes make Indian power firms anxious.
By Himangshu Watts

05/25/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW DELHI, May 25 (Reuters) - India's private power producers demanded on
Friday that the federal government intervene in Enron Corp's bitter row with
a local utility and state clearly if it wants the U.S. energy giant to stay
in India or quit.
"The government needs to decide whether we want Enron or not. In case they
don't want Enron, they should spell out the reasons for it," Harry Dhaul,
director-general of the Independent Power Producers' Association of India,
told Reuters.
But Federal Power Secretary A.K. Basu said Enron and the Maharashtra State
Electricity Board (MSEB) had to resolve their differences over the $2.9
billion project themselves.
"Basically the Maharashtra government and Dabhol have to sort it out," Basu
told reporters after a meeting with Wade Cline, the chief executive officer
of Enron India.
Basu stuck to the federal government's stand that it would help implement any
proposal emerging from negotiations between the Dabhol Power Co, 65-percent
owned by Enron, and the MSEB.
Dhaul said the fate of Dabhol, India's largest direct foreign investment and
biggest power project, would determine the future of domestic and foreign
private investment in power and other infrastructure projects.
"It is an important issue. It is a benchmark for all future infrastructure
investments of $1 billion plus."
On Thursday, Enron said the MSEB cancelled a disputed power-buying contract
just five days after the Houston-based energy firm moved to pull out of the
project.
WANT PRO-ACTIVE APPROACH
Dhaul said the federal government should intervene in the dispute between
Enron and the utility. "We want a pro-active approach in supporting
independent power producers."
Basu said the government had advised Enron to thrash out the matter with the
negotiation committee set up by the Maharashtra government. The committee is
due to meet on May 29.
Cline refused to answer questions from reporters and only said the company
would not renegotiate the power-buying contract on the basis of a committee
set up by the state government.
"We won't renegotiate on the basis of the Godbole Committee report," he said.
The committee, chaired by a former bureaucrat Madhavrao Godbole, has
suggested that the tariff be re-negotiated to make it cheaper and to remove
the dollar linkage which resulted in a steep increase each time the rupee
fell against the dollar.
Dabhol has come under fire because of the relatively high cost of its power.
Critics object to it charging 7.1 rupees per kilowatt hour versus 1.5 rupees
charged by other suppliers.
Dabhol Power Co is building India's largest power plant with a total capacity
of 2,184 MW.
The first phase of the $2.9-billion project with a capacity of 740 MW began
operating in May 1999. The second phase that will add 1,444 MW of capacity,
is expected to be completed this year.

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

Enron Unit's Sales, Costs Rise With Power Prices, Paper Says
2001-05-25 13:00 (New York)

     Portland, Oregon, May 25 (Bloomberg) -- Enron Corp.'s
Portland General Electric reported first-quarter earnings rose
10 percent as high electricity prices pushed up both sales and
costs for the Oregon power producer, the Oregonian reported.
     The company earned $43 million, the paper said. Revenue from
wholesale power sales was $480 million, three times the year-
earlier period, even as costs to buy electricity almost doubled.
     PGE's power plants produce less than half the electricity
needed to supply its 728,000 Oregon customers, forcing the company
to buy power on the same markets into which it sells, the paper
said. Dry weather is cutting hydropower resources, and easing
wholesale prices could make it more difficult for the company to
profit from power sales outside the state, the paper said.
     Edison International's Southern California Edison, which has
filed for bankruptcy, and two California agencies, one of which is
now defunct, owe the company $128 million, the paper said. The
company is pursuing collection, the paper said, citing Chief
Financial Officer James Piro.

India Enron Panel Lacks Authority to Solve Dispute, Expert Says
2001-05-25 07:16 (New York)

India Enron Panel Lacks Authority to Solve Dispute, Expert Says

     Mumbai, May 25 (Bloomberg) -- Indian negotiators lack the
authority to solve a dispute that has shut down Enron Corp.'s $3
billion power plant, India's single biggest foreign investment,
said a former member of the negotiating committee.
     The negotiators will meet Enron officials on Tuesday next
week, though any proposals made will not be binding on either
Dabhol Power Co., 65 percent owned by Enron, and the Maharashtra
State Electricity Board, the official said. Maharashtra, Dabhol's
sole customer, has refused to pay some of its power bills.
     ``Where is the guarantee Enron and the government will accept
what the committee recommends,'' said R.K. Pachauri, director-
general at the Tata Energy Research Institute, a research
organization. Pachauri said he quit the committee because it was
being asked to renegotiate the project, when it was set up to
solve the payment dispute.
     Maharashtra yesterday served Dabhol notice canceling the
power purchase contract, six days after Dabhol gave the board
notice it was set to pull out of the project in six months.
     The board has refused to pay Dabhol 3 billion rupees for
power supplied in December and January, saying the bills should
reflect a 4 billion rupee penalty it imposed on the company Jan.
28 for failing to supply power at full capacity.

                            Meeting

     Other India officials said the two parties can't afford not
to negotiate as there is too much at stake.
     Mahrashtra and Dabhol serving each other notices is ``simply
legal maneuvering,'' said Kirit Parikh, an economist on the prime
minister's economic advisory council.
     ``It won't affect the process of finding a solution because
``the ground reality is neither Enron nor Maharashtra can afford
not to find a compromise'' to the dispute, Parikh said.
     The government needs a solution as it could be left footing
the bill.
     India's federal and state governments, which have guaranteed
the board's payments for power and some of the loans to help fund
the project, may have to pay Dabhol more than 170 billion rupees
($3.6 billion) if it terminates the 2,184 megawatt power project.
     ``We are going back to Maharashtra tomorrow to work on the
problem.'' Dabhol managing director Wade Cline said. Cline was in
New Delhi to meet A. K. Basu, secretary to the ministry of power.


John - thanks for the news release - it looks like a good decision;
particularly the discontinuance of goddwill amortization.
Rod - this sync's up w what Mr. McGowan had read in the World Herald.


I have finished reviewing Wisconsin's agreement.  and  given a copy to Stacy
Dickson for her input.  I will get back with you as soon as she and I discuss
same, hopefully tomorrow.

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


Vector Pipeline will be purchasing line pack gas for gas day November 11,
2000. Please see attached document.

(See attached file: Offer to Purchase Nov. 11.doc)

Keith Irani
Manager, Marketing Services
Vector Pipeline
416 495-5960
keith.irani@cgc.enbridge.com
 - Offer to Purchase Nov. 11.doc


---------------------- Forwarded by Doug Gilbert-Smith/Corp/Enron on
09/07/2000 05:15 PM ---------------------------

Zachary Sampson
09/07/2000 05:04 PM
To: Clint Dean/Corp/Enron@Enron
cc: Doug Gilbert-Smith/Corp/Enron@ENRON, Mike Curry/HOU/ECT@ECT

Subject: BTU

Clint,

Here is the info on BTU (City of Bryan):

Contact: Tom Hancock - Mgr, Pwr Mktg Admin - Nice guy, easy to deal with,
talk to

Phone: 512-965-5458 - This is his mobile.  All people who trade with him call
him on this phone
 979-821-5812 - Office

1. Tom does mostly daily/hourly type deals - mostly he will buy vs. run -
even if the price is a little higher than his cost to run
2. BTU has extra capacity to sell, but Tom says they can't move it out
because of contrained elements in their system
3. Typically has no problem buying from the North - he does a lot of stuff
with Brazos

Call me if you have questions.

Zach


David Kendrick from The University of Texas may be good.

Martin

Vince J Kaminski
04/24/2001 05:11 PM
To: Stinson Gibner/HOU/ECT@ECT, Vasant Shanbhogue/Enron@EnronXGate, Rakesh
Bharati/NA/Enron@Enron, Pinnamaneni Krishnarao/HOU/ECT@ECT, Zimin
Lu/HOU/ECT@ECT, Iris Mack/ENRON@enronXgate, Martin Lin/HOU/ECT@ECT, Lance
Cunningham/NA/Enron@ENRON, Vince J Kaminski/HOU/ECT@ECT
cc: wangfa@rice.edu
Subject: Rice/Enron Speakers for Fall 2001 and Spring 2002

Any recommendations. Please, let me know ASAP.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/24/2001
05:09 PM ---------------------------

Albert Wang <wangfa@rice.edu> on 04/23/2001 12:37:55 PM
To: Vince.J.Kaminski@enron.com
cc:
Subject: Rice/Enron Speakers for Fall 2001 and Spring 2002

Hi, Vince:

We are considering a preliminary list of speakers for Rice/Enron Seminar
Series in Finance for Fall 2001 and Spring 2002.? Do you have any persons in
mind that you and your group want to include in the list?? Finance faculty
will meet to finalize the list later.

Thanks,

Albert

P.S.: Is Ronnie Chahal still around?? She is currently in my Enron
distribution list with email address: rchahal@ess.enron.com.? I have received
an error message indicating a failure of delivering email to her address.

Fu-Kuo Albert Wang
Assistant Professor
Jones Graduate School of Management -- MS 531?
Rice University?
6100 Main Street?
Houston, TX 77005?

Phone: 713-348-5404?
Fax:???? 713-348-5251
email: wangfa@rice.edu
http://www.ruf.rice.edu/~wangfa/


Jim,  Were you able to locate this liquidation for April.  I realize it has
been booked in TAGG between FT books, however, can you somehow get the value
in  IM Ontario?  Let me know if I can provide you with any additional
information that will help resolve this issue.
---------------------- Forwarded by Gregory A Mausser/HOU/ECT on 05/10/2001
09:24 AM ---------------------------

	Gregory A Mausser
	05/03/2001 05:37 PM

To: Jim Little/HOU/ECT@ECT
cc: Phillip M Love/HOU/ECT@ECT
Subject: April Liquidation QZ0764

Jim,

P. Love informed me that we should see a liquidation (QZ0764) in the Ontario
Region intended to offset an Interdesk deal between IM Ontario and IM New
England where we forced the purchase.  Looks like it was booked in TAGG
between FT-Ontario and FT-NY.

Can we find the liquidation and show in IM Ontario?

Thanks,
Greg


Yes, I'll be in at about 2 PM.

Kay Mann@ENRON
05/14/2001 08:56 AM
To: jkeffer@kslaw.com
cc: Ben Jacoby/HOU/ECT@ECT
Subject: CA Development

Hi John,

Enron is ok with signing the consents.  After the assignment of the contracts
out of LLCs, we would like to exercise our put.  Please share this info with
George.

I believe Ben will be in town tomorrow (right Ben?) so we can get it signed
up this week.

Thanks,

Kay


As everyone is surely aware after last night's going away party, John Forney
is heading back to Houston to trade the Short Term Entergy market.  Bill
Williams III will be assuming responsibility for the Real Time desk and will
report to Greg Wolfe.  There are three major areas of responsibility that
Greg and Bill will be focussing on in 2001.  The first is the management of
EPMI's physical power flows.  This entails checking out with counterparties,
handling cuts, and ensuring that all of our risk and settlement systems
reflect the proper information.  The second area is trading done by the Real
Time group.  Each day, our Real Time desk combs the market looking for
attractive trading opportunities.  The third area is the Services Desk.  The
Services Desk provides scheduling and settlements services to customers who
don't have the staff or systems to do it themselves.  We have seen our
Services business grow dramatically this year.

Greg Wolfe will be ultimately responsible for the efforts of the Real Time
desk and our Services business.  Les Rawson will continue in his role on the
Services desk and will report to Greg.  Bill Williams will be responsible for
the day to day operations of the Real Time desk.  Greg will continue to work
closely with the middle market group and will maintain some of his coverage
responsibilities.  Chris Foster will continue to manage the Middle Market
group.


I am confirming my conversation with you yesterday and my conversation a
minute ago with Lori Volpi at Dynegy Canada.  As we discussed, Dynegy Canada
is trading with both ECC and ENA, with the bulk of its trading being done
with ECC.  Instead of getting two ISDA Master Agreements in place, we will
enter into an ISDA Master Agreement between ECC and Dynegy Canada, and then
just back-to-back any ENA trades down to Houston by virtue of the Services
Agreement for Financial Agreements we have in place between ECC and ENA.
Per my conversation with Lori, this will also work with the EOL trades since
the Electronic Trading Agreement provides that any financial trades done for
either ECC or ENA will be transacted under the respective master agreement in
place with either ECC or ENA.

Works for me...!


NEWS [IMAGE]   A/P Press  Release 9/01  NEW  PRODUCT ALERTS MOTORISTS OF TIRE PRESSURE DANGER  Ft.  Lauderdale, Florida --- Underinflated tires are the number one cause  of premature tire wear.  Underinflated  tires on motor vehicles cause crashes due to tire blow-outs, immobilized  vehicles, poor handling as well as hydroplaning. ACCU-PRESSURE  SAFETY CAPS are a new tire pressure monitor product which  will help drivers know when their tire pressure is too low. Ft.  Lauderdale ACCU-PRESSURE SAFETY CAPS, INC.  is the exclusive distributor for the product. The chrome caps simply  go over the tire's valve stem and will display green when the tire  pressure is adequate, yellow if approximately four pounds underinflated,  and red when approximately ten pounds underinflated.   The  NHTSA, the Transportation Deptartment agency responsible for vehicle  safety, estimates that monitoring tire pressure could prevent over  10,000 injuries and countless deaths.  [IMAGE]


CGoering@nyiso.com writes to the NYISO_TECH_EXCHANGE Discussion List:

The NYISO is reserving hours beginning 4:00, 10:00, and 18:00 in the
September 26, 2001 Real-Time Market as well as the following hours per ECA
20010908B to verify prices:

HQ:  21:00-22:00
NE:  21:00-22:00
OH:  21:00-22:00
PJM: 0:00-1:00, 21:00-22:00

Prices in the September 27, 2001 Day-Ahead Market are correct.

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


Hey Guys.

I had a long talk with NCPA today and set up so that we again can do the
ZP26/NP15 Buy-Resale on a Realtime basis. We are not doing a profit split
this time, we are paying them $25/MW instead. This basically enables us to
shift 21MW across PATH15 and not be subject to Congestion as NCPA has
Grandfather Rights across the path. This is a sweet strategy when the
SP15/NP15 spread is there and PATH15 is congested. NCPA's capacity is 21MW,
but I would not recommend doing more than 20MW. There are others who know
about this opportunity but are not currently using it (WESCO especially). So
by doing only  20MW we do not remind them of NCPA.

The way this works is that we call NCPA and ask their capacity across PATH15.
And tell them you want to schedule the BR through whatever hour.

IN CAPS:
We sell to NCPA in ZP26.
We buy from NCPA in NP15.

We can buy SP15 to fill our ZP26 sale (we just shift the load from SP15 to
ZP26, so enter a EPMI CALPOOL).
PG&E is NCPA's SC, so if you are not passing Phase two give them a call.

NCPA's tel#: (916) 786-3520
PG&E tel# : (415) 973-1969

If you guys have any questions  just ask me.

Geir


Dolores:

I'm sorry, but Steve just let me know that he will not be able to attend
tomorrow's luncheon.  Hope this doesn't cause too many problems.

Thanks.   Maureen

	Dolores Fisher
	12/12/2000 10:49 AM

		 To: Mark Metts/NA/Enron@Enron, Mitchell Taylor/Corp/Enron@ENRON, Dwight
Larson/Corp/Enron@ENRON, Amit Walia/HOU/ECT@ECT, Jessica Uhl/NA/Enron@Enron,
TJ Rylander/NA/Enron@Enron, Rosario Boling/Corp/Enron@ENRON, Lola
Weller/Corp/Enron@ENRON, Cliff Baxter/HOU/ECT@ECT, Susan
Skarness/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, Timothy J
Detmering/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron, Mark S
Muller/HOU/EES@EES, Ann Ballard/Corp/Enron@ENRON, Lance
Schuler-Legal/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT, Cheryl
Lipshutz/HOU/ECT@ECT, Nicole Alvino/HOU/ECT@ECT, Rodney
Faldyn/Corp/Enron@Enron, Michael L Miller/NA/Enron@Enron, Richard
DiMichele/Enron Communications@Enron Communications
		 cc:
		 Subject: Luncheon Reminder

Don't forget the Corporate Development Holiday Luncheon tomorrow at Brennan's
at 12 Noon.  See you there!


fyi
 -----Original Message-----
From:  Miller, Stephanie
Sent: Monday, May 21, 2001 9:20 AM
To: Diamond, Russell
Cc: Moon, Eric
Subject: Credit for Mexicana de Cobre, S.A. de C.V.
Importance: High

I am trying to purchase El Paso capacity from the referenced counterparty - I
would take assignment (via release program) of 11,418 MMbtu/day, Permian to
Socal Border, for the time period June 2001 - October,  2002 (17 months). I
would re-release the capacity back to him for the remaining one year term for
November 1, 2001.

The demand charge for this capacity is roughly $.40/mmbtu. I would like to
get your feedback on credit exposure (in case he goes under before I can
release it back to him in November). This transport is currently deep in the
money.

Please advise ASAP.

Regards,

Stephanie


First of all congratulations on your promotion, it is well deserved.  You are
really in some rarefied air, since there seem to be very few Managing
Directors.

I also would like to compliment you on putting together one of the best  2
1/2  hour seminars / workshops that I have ever attended ( I know that is
saying a mouthful).  The Operational Risk Meeting / Workshop was not only
informative, but the constantly changing formats kept everyone's attention.
I believe the meeting also caused a renewed enthusiasm among your supervisory
personnel.  This is not only my observation, but the feeling of all of the
people that I have talked to over the past few weeks.

Once again, congrats.!!!!!!!!!!!!!!!!!!!!!!!!!


I don't know if you guys can pull up my file from the previous email.  Here it is again just in case.

 -----Original Message-----
From: 	Vos, Theresa
Sent:	Monday, April 29, 2002 11:12 AM
To:	Germany, Chris
Cc:	Herrmann, Karen
Subject:	RE: Sales to TXU for April 2002

can you also add Karen Herrmann to the distribution?  She handles most of the day-to-day accounting.

thanks!

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, April 29, 2002 11:11 AM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy; Vos, Theresa
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

Opps.  Would help if I included Theresa.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, April 29, 2002 11:08 AM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

Sold 10,000 dth of Conger gas to TXU for 4/30/02 at $3.24, that wraps up the sales for April 2002.

Theresa, I've attached my worksheet showing how much we sold TXU for April and what price.  The daily volumes are in column M and the daily prices are in column N.  We should bill TXU for 301,000 dth and a dollar amount of $952,055.00.  Call me if you have any questions.

Thanks

 << File: MARGAS.xls >>

 -----Original Message-----
From: 	Germany, Chris
Sent:	Friday, April 26, 2002 1:39 PM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

Sold 10,000 dth of Conger gas to TXU for 4/27-29/02 at $3.05.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Thursday, April 25, 2002 10:53 AM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

Sold 10,000 dth of Conger gas to TXU for 4/26//02 at $3.24

Also received a call from Jeff at Lone Star telling us to work a little harder at working off the imbalance.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Wednesday, April 24, 2002 3:22 PM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

Sold 10,.000 dth of Conger gas to TXU for 4/25 at $3.29

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, April 23, 2002 10:49 AM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Sales to TXU for April 2002

We sold 10,000 dth of the Conger gas to TXU for 4/24 at $3.40

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, April 22, 2002 1:16 PM
To:	Germany, Chris; Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick; Vos, Theresa; McMichael Jr., Ed
Subject:	RE: Sales to TXU for April 2002

OK, Kathy and Troy have pointed out how bad my previous email was.  I'm sure I was thinking about lunch.

Sabra Dinari scheduled the gas on Lone Start.  She quit on Friday.  I will be doing the scheduling until further notice.  Kathy Kelly will be my backup when I'm out.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, April 22, 2002 11:13 AM
To:	Kelly, Katherine L.; Mazowita, Mike; Greif, Donna; Denetsosie, Troy
Cc:	Hill, Garrick; Vos, Theresa; McMichael Jr., Ed
Subject:	RE: Sales to TXU for April 2002

Sold 10,000 dth of Conger to TXU  for 4/23 at $3.37

Our scheduler, Sabra Dinari, quit on Friday so I will be handling the noms for awhile and Kathy Kelly will.  I think its easier for me to do the noms on this since I'm selling point specific gas and we are not putting this activity in Sitar/Unify.

Theresa, looks like I will be the one addressing the accounting questions.

 -----Original Message-----
From: 	Kelly, Katherine L.
Sent:	Friday, April 19, 2002 8:28 AM
To:	Germany, Chris; Mazowita, Mike; Dinari, Sabra L.; Denetsosie, Troy
Subject:	Sales to TXU for April 2002

I've sold TXU 10,000 dth at $3.14 for Sat.4/20 through Mon. 4/22

Sabra, I sold them 10,000 of Conger gas

 -----Original Message-----
From: 	Germany, Chris
Sent:	Thursday, April 18, 2002 8:24 AM
To:	Germany, Chris; Mazowita, Mike; Kelly, Katherine L.; Dinari, Sabra L.; Denetsosie, Troy
Cc:	Hill, Garrick
Subject:	RE: Lone Star Sales to TXU for April 2002

Sold TXU 15,000 dth at $3.315 for Fri 4/19/02.

Sabra, I sold them 10,000 of Conger gas and 5,000 of the Sprayberry.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Wednesday, April 17, 2002 8:20 AM
To:	Germany, Chris; Mazowita, Mike; Kelly, Katherine L.; Dinari, Sabra L.
Cc:	Hill, Garrick
Subject:	Lone Star Sales to TXU for April 2002

Sold TXU 10,000 dth at $3.17 for Thur 4/18/02.  I checked on the price with Darren Farmer at AEP and he said that's where Waha was trading so I don't feel like we are being taken advantage of too much.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, April 16, 2002 10:12 AM
To:	Mazowita, Mike; Kelly, Katherine L.; Dinari, Sabra L.
Cc:	Germany, Chris; Hill, Garrick
Subject:	Lone Star sales for Wed 4/17/02

Sold TXU 10,000 dth at $3.27 for Wednesday 4/17/02.


Dave,
I am trying to do a summary. Do you think it's better If I send it as it is?

-----Original Message-----
From: Allan, David
Sent: Tuesday, July 24, 2001 11:07 AM
To: Causholli, Monika
Subject: RE: Foex Index; yr two e-mails

Very interesting email.

Did you send to Jim Bryja?

-----Original Message-----
From: Causholli, Monika
Sent: Tuesday, July 24, 2001 10:42 AM
To: Allan, David; Hutchinson, Elizabeth
Subject: FW: Foex Index; yr two e-mails

Guys,

Here is what I got from Timo Teras at the Foex on their methodology in calculating the pix

Monika

-----Original Message-----
From: Timo Ter?s [mailto:timo@foex.fi]
Sent: Tuesday, July 24, 2001 11:29 AM
To: Causholli, Monika
Cc: tuula@foex.fi
Subject: Re: Foex Index; yr two e-mails

Hi Monika,

Welcome to the pulp and paper world.

In order to understand the index system, the first thing is to look at our
web-site www.foex.fi which includes a lot of information, particularly in
this case the FAQ section. You probably have taken a look at that already,
though.

Our two pulp indexes, NBSKP (Northern Bleached Softwood Kraft) and BHKP
(birch+eucalyptus) cover the European market. As abt 40% of the world pulp
trade is for the European market, these are, in a way, considered to be the
"world market prices", particularly as the third biggest market, North
America (Asia is the second biggest) has virtually the same prices as
Europe; correlation between the two is well over 0.9.

The sellers reporting to us are, by definition, in NBSKP from Canada, US
West Coast and the Nordic countries. BHKP (birch, euca) sellers are from the
Nordic region, Latin America, Spain and Portugal and a number of
Asian/African companies selling Eucalyptus pulp to the European market.
Buyers are European producers of paper and paperboard buying at least some
of their pulp from the open market, representing virtually all countires in
Western Europe. The split between birch and euca is approximately 30%/70%,
again reflecting the actual situation in the European market.

The exact coverage is difficult to calculate as some of the data received
from buyers are from same deals which are reported by the sellers and some
are not. The producers reporting to us represent roughly 80% of the supply
to Europe in the two benchmark grades.

Most (=80-90%) of the pulp sold in Europe is so-called contract business.
This means that a buyer and a seller have an annual or multiannual contract
covering the grades and volumes, quantity rebates etc. However, prices are
fixed also for contract business on a monthly/quarterly basis. Most of the
pulp arriving Continental Europe or UK from abroad, goes through consignment
warehouses (in places like Antwerp, Rotterdam, La Pallice, Tilbury,
Savono-Livorno range etc.). As forwarding companies allow 30-60 days of free
storage, buyers do not hold much inventory at their mills but take the pulp,
delivered by sellers in large shipments, little be little by lorry, rail or
barge. Each delivery is invoiced separately and those invoice prices are the
price reported to us, before customer specific rebates. Prices are for prime
grade pulp and for delivery during the current or latest for the following
month.

The following comments are worth making:
- Our system is based on first taking off top 10% and bottom 10% of the
prices received and only then calculating the index (or rather benchmark)
values. This way we avoid any clerical errors in the data received as well
as any theoretical attempts of manipulation (we have never detected any
attempts)
- We have a more or less equal number of prices received from buyers and
sellers. Some we receive through agents/merchants/trading houses - usually
mandated by a supplier to give us the price data
- If someone does not report their prices on a given week, we can use the
previous week's data but only once
- Prices are not volume-weighted (in order to avoid the manipulation
possibility and unnecessary weekly changes up and down because a supplier
sold one week to large customers and next week to small ones)
- Prices are CIF European port before customer-specific rebates (again to
avoid unnecessary volatility of the index at a time when prices remain
unchanged; also, rebates are often given only afterwards - e.g. when
exceeding a certain tonnage threshhold - and we cannot alter our indexes
retroactively)
- Our index system is approved by financial regulators and by European
Community anti-trust regulators (=DG IV) and audited by
PriceWaterhouseCoopers.
- There is a group of independent experts, case need, as "trouble shooters".
Never have had any and never have received any official complaints about the
index values.
- Participation is totally voluntary
- The main reasons for differences between the often compared FOEX indexes
and Pulpex quotations include:
a) our prices are before customer-specific rebates (averaging 5-6%), Pulpex
prices are net
b) our prices are for contract business, Pulpex prices represent the lowest
spot-levels in a weak market and highest spots in a strong market
c) our price info is based on actual sales, Pulpex prices are expectations
what the spot price might be in e.g. 3 month's time
d) our price is for a prime quality (within each benchmark grade there are
surprisingly large differences between individual mill grades sold) approved
by a seller from a particular supplier/mill, whilst Pulpex prices, based on
a delivery concept (i.e. you do not accept the price offered to close a
contract, you can make/take delivery), are prices in a particular inventory
location (3-4 alternative ones), sometimes far away from buyer's or seller's
normal ports for any lot (often unknown/unwanted grade, up to 11 months and
29 days old goods). This system tends to emphasize in the Pulpex system the
extreme prices, up or down, particularly in these early stages with low
liquidity.
- Our indexes are trade-marked products. Therefore their use for any
commercial purposes is possible only with our permission. To get that
permission, users pay us a small premium, the main source of our income.
Enron and FOEX Indexes Ltd. have a contract, Bob Crane has the details at
your end.

I trust this is helpful. I encourage you to contact us anew for any
additional questions.

Please find enclosed, for order's sake our pulp specs, some additional
comments we send to the price providers and the historical price series you
asked for (historical series are still without today's indexes, to be
published about an hour from sending this message; you can add those from
our web-site by the time you read this).

My best regards to you as well as to David and Elizabeth.

Timo Teras

-----Original Message-----
From: Causholli, Monika <Monika.Causholli@ENRON.com>
To: timo.teras@poyry.fi <timo.teras@poyry.fi>
Cc: timo.teras@foex.fi <timo.teras@foex.fi>
Date: 23. hein?kuuta 2001 11:43
Subject: Foex Index

Hello Mr. Teras,

My name is Monika Causholli and I am a new analyst working at Enron
Industrial Markets concentrating in pulp. I work with David Allan and
Elizabeth Hutchinson whom you met in the conference in Las Vegas.

I am in the process of understanding the pulp market and how it works.
Right now I am working on a project where I have to analyze the FOEX
index and the methodology behind it. I have seen one of the
presentations that you have presented in the States a while ago but I am
looking for a little bit more detail. For example, what kind of
companies you contact, what percentage of industry they represent in
terms of tonnage, markets that they represent, what geographic area
these companies represent and anything else that you think its important
to know.

I would very much appreciate your help in the matter,

sincerely,
MOnika Causholli


Smitty,
I havent been aware that we were to be "on notice" and ready to submit practice schedules to ISO.    This is a great training opportunity.
Are we supposed to be ready today and if yes,  for what?

JMF

 -----Original Message-----
From: 	Watts, Christopher
Sent:	Sunday, July 08, 2001 9:48 AM
To:	Day, Smith L.; Forney, John M.
Subject:	ercot news

1)  ERCOT conference call

John Adams with ERCOT called at 3:30 pm on Saturday afternoon to say Enron responded to instructions inappropriately during Friday's frequency control test while under single control area operations.    Friday's instruction from Ercot was for Enron to deploy balancing energy while Enron did not deploy balancing energy as per the instruction because no balancing bid was in place.  Enron  was not the only QSE to be confused by these instructions.

Adams later clarified the definitions of the operation constraints
OC1	worst level constraint

OC0	commercially significant constraints CSC) approved once per year by ERCOT

OC2	entered manually through operator entry

OC3	populated by DC power flows (FST); designed to include all generators in the constraint equation and adjust for load flows.

John encouraged all to understand the distinctions between all these constraints before actively participating in the balancing energy market.

2)  schedule mismatch

Enron had a schedule mismatch for Sunday's (7-8-01) schedules.  The mismatch was with a 5 mw obligation to BTU for HE 7 to HE 22.  Sunny and I reviewed this situation on Saturday evening.  Sunny said he submitted this schedule several times on Saturday and early Sunday morning.  The off peak hours matched fine.

Chris Watts
Analyst Enron
WK:  713-853-4292
christopher.watts@enron.com


Yes,
My member id is fourknees  .
I am being billed $21.95/ month since inception of May 11, 2001.

Thanks for your help.

JMF

-----Original Message-----
From: Newhouse, Marie
Sent: Tuesday, September 25, 2001 6:51 PM
To: Forney, John M.
Subject: FW: MSN dial up charges

John,

Can you please provide us with your MSN Member ID?

Thanks,
Marie
Clickathome
Ext 54185

-----Original Message-----
From: Gary Price [mailto:garyp@microsoft.com]
Sent: Tuesday, September 25, 2001 6:13 PM
To: Newhouse, Marie
Cc: Wise, David; Whitehurst, Kevin
Subject: RE: MSN dial up charges

I need his MSN Member ID in order to proceed.

Thanks, Gary

-----Original Message-----
From: ClickatHome [mailto:clickathome@enron.com]
Sent: Tuesday, September 25, 2001 4:03 PM
To: Gary Price
Cc: Wise, David; Whitehurst, Kevin
Subject: FW: MSN dial up charges

Gary,

Will you please check on why this employee is not getting the $5 co-pay
and is being charged $25/month?  He said he signed up through the
program.

Thanks,
Marie Newhouse
713-345-4185

>  -----Original Message-----
> From: 	Forney, John M.
> Sent:	Tuesday, September 25, 2001 2:25 PM
> To:	ClickatHome
> Subject:	MSN dial up charges
>
>
>
> Hello,
> I am using MSN dial up through the Enron program.  I understood it to
> be a $5 co-pay.    MSN customer service has said that they are billing
> me $25/month for this service and they dont know anything about an
> Enron special program.
> Who can I contact to resolve this issue?
>
> John Forney
> Director,
> Ercot Power Trading

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate
and may contain confidential and privileged material for the sole use of
the intended recipient (s). Any review, use, distribution or disclosure
by others is strictly prohibited. If you are not the intended recipient
(or authorized to receive for the recipient), please contact the sender
or reply to Enron Corp. at enron.messaging.administration@enron.com and
delete all copies of the message. This e-mail (and any attachments
hereto) are not intended to be an offer (or an acceptance) and do not
create or evidence a binding and enforceable contract between Enron
Corp. (or any of its affiliates) and the intended recipient or any other
party, and may not be relied on by anyone as the basis of a contract by
estoppel or otherwise. Thank you.
**********************************************************************


Hi,

I saw your posting concerning the kayak. Do you still have it?  Where is it
located?  I may be interested.

Thanks,

Kay


---------------------- Forwarded by Jason Williams/HOU/ECT on 03/22/2001 03:18 PM ---------------------------

m.boyce@pecorp.com on 03/11/2001 04:22:32 AM
To:	George.Smith@enron.com, Jason.Williams@enron.com, Robert.Superty@enron.com
cc:
Subject:	6day

 - GC010310.xls


Gerald King
2300 Barton Skyway 1
Austin, TX 78704
gerryking@austin.rr.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you
made from selling Enron stock before the company
declared bankruptcy to funds, such as Enron Employee
Transition Fund and REACH, that benefit the company's
employees, who lost their retirement savings, and provide
relief to low-income consumers in California, who can't
afford to pay their energy bills.  Enron and you made
millions out of the pocketbooks of California consumers
and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of
Enron's employees were financially devastated when the
company declared bankruptcy and their retirement plans
were wiped out.  And Enron made an astronomical profit
during the California energy crisis last year.  As a result,
there are thousands of consumers who are unable to pay
their basic energy bills and the largest utility in the state is
bankrupt.

The New York Times reported that you sold $101 million
worth of Enron stock while aggressively urging the
company's employees to keep buying it.  Please donate this
money to the funds set up to help repair the lives of those
Americans hurt by Enron's underhanded dealings.

Sincerely,

Gerald King


I can't play this weekend.  The earliest I can play would be Sunday December
17.

Let me know if this works

Michael Simmons
12/06/2000 10:43 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Flag Football

---------------------- Forwarded by Michael Simmons/HOU/ECT on 12/06/2000
10:39 AM ---------------------------

Michael Simmons
12/06/2000 10:43 AM
To: Luis Mena/NA/Enron@Enron, Stephen Schwarzbach/Corp/Enron@Enron, Paul J
Broderick/HOU/ECT@ECT
cc: Webb Jennings/HOU/ECT@ECT
Subject: Flag Football

Update:

The aggies have played and are awaiting a UT team challenger.    I think the
only thing at stake here is the trophy and I don't know what there is terms
of ref's, a field, etc.

If you would like to field a team to play the aggies, lemme know.   Webb has
informed me that he does not have enough players and thus there will be no
playoff for the Enron Texas team.  We can still put a team together by
combining those of you who would like to play.  Otherwise, I think Texas made
it's case after Thanksgiving and I'm not going to pursue this any further..

-Mike  ext 37842

--
Webb, where are you as far as setting up a time with the aggies?    I think
this weekend, either Saturday or Sunday is as good as any.  If not this
weekend, you will need to organize this as I will be on vacation for the next
two weeks.


Check this out!
---------------------- Forwarded by Chris Dorland/HOU/ECT on 12/13/2000 02:39
PM ---------------------------

	Enron North America Corp.

	From:  Larry Jester @ ENRON                           12/13/2000 12:38 PM

To: Chris Dorland/HOU/ECT@ECT
cc:
Subject: Bear Market

---------------------- Forwarded by Larry Jester/Corp/Enron on 12/13/2000
01:37 PM ---------------------------

Don Baughman@ECT
12/11/2000 04:00 PM
To: shannontyer@email.msn.com, mstewart@pdq.net, reidstav@houston.rr.com,
travieso74@hotmail.com, PRHE@DYNEGY.COM, Kori Loibl/HOU/ECT@ECT, Patrick
Hanse/HOU/ECT@ECT, Matt Lorenz/HOU/ECT@ECT, Larry Jester/Corp/Enron@ENRON,
twomarshalls@hotmail.com, don.c.baughman@marshmc.com,
baughmanpatricia@hotmail.com
cc:

Subject:

 - salmon.asf


Just a reminder not to use the form Master Netting Agreement that was attached to the e-mail notification sent yesterday.  You will be receiving a new form later today.

Thanks!

Marie


I can go with this--  MK

 -----Original Message-----
From: 	Walters Jr., Harry
Sent:	Tuesday, November 20, 2001 2:53 PM
To:	Heather Mueck (E-mail); Butts, Bob; Porter, Gregory J.; Miller, Mary Kay; Hayslett, Rod; Saunders, James; Howard, Kevin A.; Chandler, Bob
Cc:	Joe, Allen; Cobb Jr., John; Fancler, Dan
Subject:	draft of NNG noteholder report

 << File: NNGFINANCLRev.xls >>
 << File: NOTES_marked.doc >>
 << File: NOTES_clean.doc >>


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Thomas O'Malley Resigns From Phillips <http://www.rigzone.com/news/article.asp?a_id=2442>
Thomas O'Malley has resigned from the Phillips Board of Directors to pursue other avenues in the energy industry.

Oil Search and Orogen Minerals Agree to Merge <http://www.rigzone.com/news/article.asp?a_id=2441>Oil Search and Orogen Minerals have agreed to merge in a deal valued at A1.4 billion.

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Former Enron Execs Start New Company <http://www.rigzone.com/news/article.asp?a_id=2387>
Several former Enron senior executives have formed a new company to provide risk management services to the energy industry.

Drilling Operations Halted on West Navion <http://www.rigzone.com/news/article.asp?a_id=2427>
Drilling operations on the West Navion have been halted for the next 2-3 weeks so the rig can undergo an inspection of its derrick.

Anadarko Petroleum Provides 2002 Outlook <http://www.rigzone.com/news/article.asp?a_id=2384>
Anadarko Petroleum Corporation outlines its expectations for capital spending for 2002 and offers guidance on 2001 financial and operating results.U.S. Approves Deepwater Royalty Relief <http://www.rigzone.com/news/article.asp?a_id=2405>
Gale Norton, Secretary of the Interior, announced that oil and gas companies drilling in Gulf of Mexico deepwater will be given royalty reductions.

Pemex Increases Exploration Spending in 2002 <http://www.rigzone.com/news/article.asp?a_id=2435>
Pemex plans to concentrate spending on explortion and production projects in 2002.

Conoco Focuses on Indonesia  <http://www.rigzone.com/news/article.asp?a_id=2422>
Conoco expects to spend over $2.5 billion in Indonesia during the next nine years, as part of planned investment of $3.4 billion between 1998 and 2010.

CNOOC Acquires Repsol-YPF's Indonesian Assets <http://www.rigzone.com/news/article.asp?a_id=2428>
CNOOC has acquired Repsol-YPF's Indonesian assets for US $585 million in cash. This acquisition will make CNOOC the largest offsohre oil prod! ucer in Indonesia.

CNOOC Jackup Leaves China <http://www.rigzone.com/news/article.asp?a_id=2414>
CNOOC secured the first contract for overseas service as an independent contractor in the international drilling market.

PGS Awarded $58 Million in New Contracts <http://www.rigzone.com/news/article.asp?a_id=2424>
Petroleum Geo-Services ASA announced that its onshore division has secured new seismic acquisition contracts in the United States, Ecuador, India and Bangladesh valued at $58 million.

Kerr-McGee Sells Ecuadorian Assets <http://www.rigzone.com/news/article.asp?a_id=2436>
Kerr-McGee has agreed to sell two oil lease concessions and its stake in a pipeline project in Ecuador to Perenco.

Shell and CNOOC Sign PSC Agreement <http://www.rigzone.com/news/article.asp?a_id=2386>
CNOOC and Shell Exploration China Limited signed a Production Sharing Contract for the exploration of the Bon! an area of Bohai Bay.

Talisman Expects to Spend $2 Billion in 2002 <http://www.rigzone.com/news/article.asp?a_id=2388>
Talisman's 2002 budget for exploration and development is $2 billion which is a 6% increase over the 2001 budget.

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So have you figured out how to use the portal from home?  I just discovered
it yesterday (while at the office).

We went to Arlington for my nephew's high school graduation, which was fine.
Sunday we had dinner with Dan Lyons and spouse, which was wonderful.
Yesterday I cooked, shopped, and puttered in the yard.  Got the last caladium
bulbs in the ground.   I like to wait until they are on sale.  The weekend
just flew by.

"They" say sleeping on backs reducing risks of sudden infant death syndrome.
Go figure.  At least you can see their beautiful faces while they sleep.

Car seats, strollers and diapers are 100x better now.  Especially the diapers.

Yesterday I had a feeling that your grandbaby is a boy.  Just came to me in
the kitchen.  I have a 50/50 chance of being right!

When I was in Austin I used an "above the water" pedal kayak.  Talk about
easy.  Neil is talking about us renting to see what we like best.  The above
the water is more stable than I expected.  I had assumed that it would be
tippy, but it really wasn't.  Hope you have high water and not hell next
weekend.

ckm

From: Kathleen Carnahan/ENRON@enronXgate on 05/29/2001 09:12 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: FW: Revised form of Memorandum of Option

25 years ago for me (Shayne is 25 today).  Time files.  She was babysitting
yesterday and had to take the little girl (3 years old) to the emergency room
because she stepped on some glass.  Apparently is was not a real big deal,
but I think it was her first ordeal of the kind.

Re: sleeping on backs, I still don't understand that one.  I always thought
they were to sleep on their stomachs to avoid choaking if they threw up.

Did you do anything fun this weekend?  We just puttered around the house and
I worked on PRC's yesterday. Next weekend the kayaks are coming out come hell
or high water!

K-

 -----Original Message-----
From:  Mann, Kay
Sent: Tuesday, May 29, 2001 9:00 AM
To: Carnahan, Kathleen
Subject: RE: FW: Revised form of Memorandum of Option

This stuff is so much better than it was 20 years ago.  It is amazing how
things have changed.

Did you know that they now tell you to have  babies sleep on their backs?
That is totally different from when Paige was a baby.  It was hard to get
used to.

Kay

From: Kathleen Carnahan/ENRON@enronXgate on 05/29/2001 08:40 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: FW: Revised form of Memorandum of Option

That would be wonderful!  I was looking at those online this weekend.  I used
play pens all of the time for my children.

Thanks very much.

 -----Original Message-----
From:  Mann, Kay
Sent: Tuesday, May 29, 2001 8:38 AM
To: Carnahan, Kathleen
Subject: RE: FW: Revised form of Memorandum of Option

I have a pretty cool portable play pen you can have if you want.