---------------------- Forwarded by Carla Hoffman/PDX/ECT on 08/16/2000 09:16
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     08/16/2000 06:11 AM

To: "Golden, Mark" <Mark.Golden@dowjones.com>
cc:  (bcc: Carla Hoffman/PDX/ECT)
Subject: DJ Calif Generators: `We Welcome Probe Into Power Market' - DJ Ca
lif ISO Urges FERC To Reject Pwr Producers' Complaint

12:15 GMT 16 August 2000
=DJ Calif Generators: `We Welcome Probe Into Power Market'  (This article
was originally published Tuesday)       By Jason Leopold     OF DOW JONES
NEWSWIRES    LOS ANGELES (Dow Jones)--When California Attorney General Bill
Lockyer completes his investigation into possible "collusion" in the
wholesale electricity market by generators, energy companies say he will
probably find the same thing Geraldo Rivera found in Al Capone's safe:
nothing.  Still, those companies that own generation in the state say they
welcome the probe into the power market by Attorney General Bill Lockyer.
"We have done nothing wrong at all," said Tom Williams, spokesman for Duke
Energy North America (DUK). "Our plants have been running all summer long.
Prices are high throughout the west. We wouldn't invest $1.7 billion in new
generation and then try and rig the market."  For the past two months,
utilities, lawmakers and other market participants have made allegations
that generators are manipulating the market and are largely responsible for
the price spikes.  Locker's office said an investigation is still pending.
State regulators are also conducting their own investigation, the findings
of which will be submitted to the governor and the Federal Energy Regulatory
Commission by the end of the year.  Allegations Said Unsubstantiated  There
isn't a shred of evidence to support allegations, said Severing Borenstein,
director of the University of California, Berkley's, Energy Institute.
"There are no antitrust laws that state you can't charge a premium price for
power," Borenstein said. "Manipulation is a bad word. That's used in the
commodities market to find a loophole and take advantage of the rules.  "I
would say this is exercising market power. ... If you want to charge high
prices you can. These are guys who play against each other every day. There
is no sort of collusion that would interest the justice department ... ."
The reason for the inquiry ordered By Gov. Gray Davis, he said, is as a
consequence of San Diego consumers being the first in the nation to pay
market-based rates for electricity.  The high wholesale costs paid by
utility San Diego Gas & Electric, a unit of Sempra Energy (SRE), were passed
on to ratepayers and resulted in utility bills more than doubling.  Gov.
Davis ordered the inquiry and asked federal regulators to conduct their own
investigation as well.  Dynegy (DYN) President Steve Bergstrom also says
that an investigation "will turn up nothing."  So why conduct one?  "This is
a very politically charged issue," Bergstrom said. "When something goes
wrong you have to find someone to point the finger at."  A source in the
governor's office said Davis is aware that Attorney General Lockyer's
investigation may turn up nothing, but Gov. Davis "has a responsibility to
his constituents."  Supply vs. Demand  What the investigation will turn up
is evidence that there is a shortage of power in the state and not enough
power plants being built to meet increasing demand, said Terry Winter,
chairman and chief executive officer of the California Independent System
Operator.  Winter said he doesn't believe that there is anything wrong with
the way generators sell their power and 98% of the time the market works
well.  "Is it market abuse to bid at the price cap ($250 per megawatt-hour)
knowing that you're 1,000 MW short? I have trouble identifying that as
market power abuse," Winter said.  Despite some proposed regulatory changes,
such as bid caps on wholesale energy prices and a rate freeze for SDG&E
customers, Duke Energy, Dynegy, Southern Co. (SO) and Reliant (RLI) all
still plan to invest in generation in the state.  That's a different stance
than the companies took a month ago when the ISO reduced the wholesale price
cap in the real-time market to $250/MWh.  "At the end of the day the market
is short power and you got to get people to build new generation," said
Dynegy's Bergstrom. "We got a big investment in California. We're not
walking away from that."  -By Jason Leopold, Dow Jones Newswires;
323-658-3874; jason.leopold@dowjones.com Copyright (c) 2000, Dow Jones &
Company Inc
12:15 GMT 16 August 2000 DJ Calif ISO Urges FERC To Reject Pwr Producers'
Complaint
(This article was originally published Tuesday)
WASHINGTON (Dow Jones)--California's power grid administrator Monday urged
federal regulators to reject a complaint from power producers seeking
compensation in the event out-of-state power transactions are curtailed
during an extreme power grid emergency.
The independent system operator told the Federal Energy Regulatory
Commission that the power producers seek compensation in the event of a
"situation that never has occurred any time since the ISO began operations,
and if it were to occur in the future, would do so rarely."
The ISO noted that its tariff governing access to the state's grid already
allows for compensation in the event of curtailed exports, and decried the
power producers' complaint as "a collateral attack" on a previous FERC order
rejecting claims that the tariff failed to provide adequate compensation.
Curtailing scheduled power transactions and exports would be a last resort
measure taken only after other options have been exhausted, the ISO said.
The power producers should adjust their contracts to factor in the risk of
interruption in the event of a state-wide grid emergency, the ISO said.
The ISO's objections were echoed by the state's electricity distribution
utilities and California regulators.
They complained that the power producers are merely trying to get out from
under the price controls the ISO has imposed in an effort to rein in
skyrocketing power prices this summer.
The generators "knew when they purchased California power plants and when
they entered into their export contracts that the ISO could alter their
schedules in an emergency. For them to ask the commission to make it even
more expensive, and hence, more difficult, for the ISO to maintain grid
reliability in California is irresponsible," said Southern California
Edison, a unit of Edison International (EIX).
"The complaint is a sham," declared the California Public Utilities
Commission.
"The true intent of the complaint ... is to avoid the ISO price caps by
making sales to affiliates or cooperating entities located out of state, and
sell the power back to the ISO at uncapped prices reflecting the generators'
market power," the PUC said, calling for FERC to summarily reject the
complaint.
"The complaint is factually unsupported, legally unfounded, complains of
conduct consistent with the ISO's authority under pertinent FERC decisions,
and seeks to avoid the price cap," the PUC said.
But power marketers and other power producers voiced support for the
complaint, filed Aug. 3 by Reliant Power Generation Inc. (REI), Dynegy Power
Marketing Inc. (DYN) and Southern Energy California (SO).
"By subjecting curtailed energy transactions to its maximum purchase price
of $250, and simply ignoring the financial impact on sellers, the Cal ISO
would be overtly discriminating against export transactions and market
participants who schedule energy for export," said the Electric Power Supply
Association, the national trade group representing competitive power
producers.
"It is critical that power producers ... know with certainty that the
curtailment of scheduled energy exports by Cal ISO will be compensated,"
said Morgan Stanley Capital Group Inc.
"Now that the ISO Governing Board has lowered purchase price caps to $250,
it is significantly more likely that the curtailment of exports will occur
more frequently. Less energy will be imported into California and more
energy will leave California in search of higher prices," said Williams
Energy Marketing & Trading Co. in support of the complaint's call for actual
damages and lost opportunity costs.
At least one power purchaser voiced support for the producers' position as
well.
"It seems a very basic point that if the Cal ISO must divert the
transactions of others to meet its own loads, that is should pay the full
costs of doing so," said the Northern California Power Agency.
-By Bryan Lee, Dow Jones Newswires; 202-862-6647; bryan.lee@dowjones.com
Copyright (c) 2000, Dow Jones & Company Inc

G_nther A. Pergher
Senior Analyst
Dow Jones & Company Inc.
Tel.  609.520.7067
Fax. 609.452.3531

The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material.  Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you received
this in error, please contact the sender and delete the material from any
computer.

 <<Gunther Pergher (E-mail).vcf>>
 - Gunther Pergher (E-mail).vcf


Start Date: 4/27/01; HourAhead hour: 3;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042703.txt


I'll be there.

 -----Original Message-----
From: 	Redmond, Brian
Sent:	Tuesday, December 11, 2001 1:09 PM
To:	Zisman, Stuart; Coffey Jr., Jim; Gruesen, Karen; Schneider, Chip; Miller, Don (Asset Mktg); Nemec, Gerald
Subject:	RE: Bridgeline Partnership

Lets meet from 4:00 to 4:45 on the 5th floor of ECS.  As it stands now - we need to understand what happens under the agreements in the event that we pull LRCI into bankruptcy.

Case 1:  Do Nothing - Dow terminates lease and brine service agreement, traps gas in storage, LRCI cannot complete Enron #1, LRCI pays penalty payments to Bridgeline for not making storage capacity available, LRCI defaults under Contribution Agreement.

Case 2: LRCI in Bankruptcy - ?

We need to make a call.

Regards,
Brian

 -----Original Message-----
From: 	Zisman, Stuart
Sent:	Tuesday, December 11, 2001 12:56 PM
To:	Redmond, Brian
Subject:	FW: Bridgeline Partnership

 -----Original Message-----
From: 	Gruesen, Karen
Sent:	Tuesday, December 11, 2001 12:52 PM
To:	Zisman, Stuart
Cc:	Coffey Jr., Jim
Subject:	FW: Bridgeline Partnership

Probably need to include Jim Coffey on this, as his group will ultimately be responsible for the accounting for the Bridgeline investment.  I am available at 4 pm but will need to leave at 5.  Let me know if we will be able to get a meeting together today.
Thanks,
Karen

 -----Original Message-----
From: 	Redmond, Brian
Sent:	Tuesday, December 11, 2001 12:28 PM
To:	Zisman, Stuart; Gruesen, Karen
Cc:	Miller, Don (Asset Mktg); Stoler, Lou; Schneider, Chip; Nemec, Gerald
Subject:	RE: Bridgeline Partnership

Lets get together if we can at 4:00 today - we need a game plan.

 -----Original Message-----
From: 	Zisman, Stuart
Sent:	Tuesday, December 11, 2001 12:00 PM
To:	Gruesen, Karen
Cc:	Miller, Don (Asset Mktg); Redmond, Brian; Stoler, Lou; Schneider, Chip; Nemec, Gerald
Subject:	RE: Bridgeline Partnership

It turns about that there are conflicts with 9:30.  How about 10:30?


I haven't heard  that, but I was running around quite a bit yesterday.
Governor Backbone has however been recently attempting to appeal to the Nader
(noisy) wing of the party, so it wouldn't be altogether surprising.  We can
poke around.

Best,
Jeff

	Susan J Mara
	02/08/2001 10:15 AM

		 To: Mike D Smith/HOU/EES@EES, Sandra McCubbin/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron
		 cc: Vicki Sharp/HOU/EES@EES
		 Subject: Re: Governor Davis on NPR -- Still Doesn't Want to Raise Rates --
AZ Gov Takes Him On

I was mystified by that as well.  I'm not convinced that he was referring to
AB 1X.

Jeff or Sandi,

Have you heard the Governor making this reference?

Sue

	Mike D Smith@EES
	02/08/2001 06:42 AM

		 To: Susan J Mara/NA/Enron@ENRON
		 cc: Vicki Sharp/HOU/EES@EES
		 Subject: Re: Governor Davis on NPR -- Still Doesn't Want to Raise Rates --
AZ Gov Takes Him On

I'm curious about the Gov's statement that he has "eliminated" deregulation.
Is he referring to the direct access ssupension language in AB 1X?  Can you
shed some light on this?


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If you wish to unsubscribe, or change your address, click below: http://coach1.m0.net/m/u/cch/c.asp?e=MIKE.CARSON%40enron.com


Chris and Heather,

  I wanted to let you all know that I have added some replacement deals to the ST CA and ST W Hourly books that we spoke about yesterday.  Below is an explanation of why, and I have listed the old deals and the replacement deals......

ST W Services sold a position to the ST CA book and ST ST W Hrly desks, but the energy didn't flow due to a scheduled outage.  Since the energy didn't flow, the desks entered some sales to WHEELABRATOR to sell back the energy that didn't flow.  This sale should have been to the ST W Services book to sell back the position, not to WHEELABRATOR.  I zero'd out the sales to WHEELABRATOR and entered intra-desk annuities.  Please see below:

Sunday 6-17-01

 RT old deal : 650578.1
RT new deal: PA 679980 SA 679973

ST CA old deal: 650607.1
ST CA new deal: SA 679991 PA 679995

Monday 6-18-01

RT old deal: 650638.1 & 652580.1
new deal: SA 678497.1 PA 678498.1

ST CA old deal: 651968.1
new deal: SA 678495 and PA 678496


I will return on Monday Oct 15th.  Please contact Bruce Mills if you need immediate attention with an issue.  Thanks.


Mr. Fastow,

I'm writing all of our participants and confirming plans for the upcoming
corporate finance meetings on May 4-5 here.  As a reminder, you are slated
to sit on the executive option/equity dilution panel on Saturday
morning.  Dave Yermack from NYU, the number one expert on this issue, is
presenting at that session.  (Again, serving as a panelist should require
little preparation on your behalf.)

Also, you and your wife are welcome to attend the dinner on Friday evening,
May 4.  It will be held in the Baker Institute across from the business
school.  Tom Copeland is our speaker - (I think he plans to focus his
remarks on real options).  Vince Kaminski  has told me he will be at the
dinner, however his wife is out of town and will not be.

Please call me direct if I can be of any help or assistance.   I look
forward to seeing you soon.  I've attached a copy of the program along with
a name rooster of those planning to attend.

Dave Ikenberry

***********************************
Prof. David Ikenberry
Jones Graduate School of Management
Rice University
713-348-5385


Attached is a draft press release regarding Cinergy's purchase of the
Brownsville and Caledonia peaker plants.  This is scheduled for release prior
to the market opening on Tuesday, December 12.  If you have any changes,
please get them to me as soon as possible.  Thanks.

Eric


Frank:
How do Sep basis positions roll off?
John


GADGETS, GIZMOS, AND OTHER FUN STUFF:
Technologies of the Future That Will Change the Way You Live & Work

Tuesday, Sept. 26
11: 30 a.m. to 12:30 p.m.
EB 5C2

Speaker:

Amy Oberg
Manager, Competitive Intelligence and Future Foresight
Enron Energy Services

Special "Guest": the Xybernaut Wearable Computer

R.S.V.P to Mary Clark via e-mail


Please call him.

	From:  Kathleen Carnahan                           11/07/2000 09:49 AM

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

Subject: Re: Draft CA for curves

You got it.  Did Gregg happen to mention which legal entity of Peoples is
using the confidential information?  I can call him if you want me to.

I'll make the first set of changes right now and wait to hear from you about
the length of the effective period.

K-

Kay Mann
11/07/2000 09:43 AM
To: Kathleen Carnahan/NA/Enron@Enron
cc:

Subject: Re: Draft CA for curves

Kathleen,
Please change the first paragraph as follows:
ENA is prepared to furnish you with certain risk analysis information which
is either confidential, proprietary or generally not available to the public
("Confidential Information") in connection with ENA,s disclosure to PERC
and/or enovate for its performing independent risk analysis relating to of
the portfolio of enovate, L.L.C., a Delaware limited liability company. Such
information may include (but not be limited to) and for PERC,s evaluation of
daily curves such as price, basis, index, volitility and interest rates as
they relate to the operations of enovate, L.L.C.  As a condition to
furnishing Confidential Information, PERC and ENA each agree to the following:

As for the paragraph 7, I've asked Gregg if the disclosures will be one time,
or ongoing.  If the disclosures will be ongoing, we may want to rethink the
effective period to make it two years from the last disclosure.

Gregg also needs a resoluting regarding signing authority, but I've left him
a voice mail asking for more information.
Thanks,

Kay

	From:  Kathleen Carnahan                           11/06/2000 09:13 AM

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

Subject: Draft CA for curves

Attached is a draft of the CA for Peoples based on Gregg Penman's information
below.  Gregg says he also wants some language to be included regarding audit
rights.  I did not include this language because I'm not sure how to word it
(and I could not find an example).

By the way, I used another People's CA I got from Ed's directory as an
example because it seemed to fit better than the one I got from you on Friday.

Gregg wanted some pretty specific reference to the confidential data being
supplied to Peoples, and most of the examples I reviewed were more general.
Please let me know what I need to change.

Kathleen

This is the example I used:

---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 11/06/2000
09:02 AM ---------------------------
To: Kathleen Carnahan/NA/Enron@Enron, Kay Young/HOU/ECT@ECT
cc:

Subject: Draft CA for curves

Kathleen,

We have forms for confidentiality agreements.  All CA's are processed through
Kay Young, as she maintains the data base.  Kay, could you point Kathleen to
the repository of the forms so that she can generate the first draft? By the
way, I've assembled the emails I received on changing the form.  I'll be
happy to take a crack at the revisions if you tell me which form to start
with.  I know it will have to be processed through before it becomes standard.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/24/2000 08:56
AM ---------------------------
From: Gregg Penman on 10/23/2000 10:28 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Draft CA for curves

Kay - We have previously discussed the idea of a CA to specifically cover the
curves.  We need to put this at the top of the list for this week.  Can you
prepare a CA for the distribution of enovate curves to specific individuals
at Peoples?  I would like it to read as follows:
Basis and Index curves will be provided daily for all points at which enovate
has a position, whether hedged or open, to specific individuals employed in
the risk management area.  (Individuals should be named on a schedule).
Curves are being provided for the express purpose of independent risk
analysis of the enovate portfolio by Peoples Risk Management personnel.

In return, the specific individuals will not forward, copy, or otherwise
distribute the curves to any individual not on the approved schedule.  No
communications, written or verbal, will be made to any person other than the
enovate GM or the Enron designated enovate risk committee member regarding
any aspect of the curves.

I need some language regarding audit rights, but this should get you
started.  Call me to discuss.

Gregg

---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 11/06/2000
09:02 AM ---------------------------
From: Gregg Penman on 11/01/2000 03:13 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc: Kay Mann/Corp/Enron@Enron

Subject: CA for enovate

Kathleen - As we discussed, here is a high level overview of what I am trying
to accomplish.

Purpose: Employees and representatives of Peoples Energy will be provided
information related to the operations of enovate, L.L.C. that is necessary or
appropriate to review the accuracy of data and verify that the operations and
controls set forth in Section VIII of the enovate, L.L.C. Risk Management
Policy are being properly implemented and followed.  Information may include
forward curves such as price, basis, index,volatility and interest rates to
the extent they relate to the operations of enovate, L.L.C.

Restrictions:  All information provided is deemed confidential.  Information
provided may only be used for the purpose mentioned above.  None of the
provided information may be distributed or communicated to any person who is
not subject to the confidentiality agreement.

Call me with any questions you may have.  Thank you for your assistance.

Gregg


Lexis CSKJ59R
Westlaw 169-1551KZWG

I will make you a CCMAIL folder called password and put this in it - OK?


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 03/21/2001
09:47 AM ---------------------------

val.generes@accenture.com on 03/21/2001 07:46:25 AM
To:
cc:

Subject: FW: Girl Without Father

 We need your help. Please read the following:

   Unfortunately, it has become all to frequent that a man will father a
  child and then run off.  Often times without paying any child support.
  The girl in this picture will face many challenges because she has no
  father in her life.  If you know who her father might be, please contact
  the  police immediately.

(See attached file: girl_without_father.jpg)

 - girl_without_father.jpg


Good Afternoon

Attached are 2 documents in relation to final Settlement of the outstanding Delay in Start up (relating to the replacement of the previously damaged rotor) claim. One is a detailed history of the claim and the other a final acceptance notice proposed by the brokers.

I have been negotiating the outstanding portion of the claim now for nearly 9 months and believe that due to the circumstance surrounding the late delivery of the rotor and the advice of external council this settlement is acceptable to ENS. Will you please advise wether you agree with accepting this sum as full and final settlement.

In way of context this settlement is $750k of a possible $901k an 83% success on a claim we had been advised would not have been worth taking to arbitration if the insurers had become difficult.

regards

Ed

Sophie. Could you please confirm that you are happy with the wording of the acceptance notice.
NOTE I would really like to complete this by Wednesday this week as this is my last week.

-----Original Message-----
From: BODIMEADE, Alfred [mailto:ABodimeade@heathlambert.com]
Sent: 26 November 2001 10:34
To: 'Ed Cattigan'
Subject: FW: ENS - Draft Form of Acceptance

Ed
Let me know a.s.a.p. if you have any problem.
I think the figures are correct.
Alf


Call Greg Sharp
--------------------------
Jim Steffes
Enron


Thanks for the update.  cool!.  How are we doing on our weather person for
europe?

	From:  Mike A Roberts                           12/13/2000 11:35 AM

To: David J Botchlett/HOU/ECT@ECT, Chris Mahoney/LON/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Jennifer Fraser/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: New Research Tool - too Cool!!!

This tool is really a breakthrough.  Real-time off our new satellite
controller, meteorological info from NOAA's satellite!!!

Simple and easy.

just go to...

http://sassy.ect.enron.com/weather/current/desktop.html

further instruction (there is only one instruction)..

type in your station of interest, example: KHOU for Houston, Texas, LIRF for
Rome, Italy, EDDH for Hamburg, etc (see attached city code list)

you will be constantly updated way before the competition!

enjoy...


loser
 -----Original Message-----
From: 	Misra, Narsimha
Sent:	Friday, October 26, 2001 7:34 AM
To:	Stepenovitch, Joe
Subject:	EOL_Enpower_deals.xls

 give me a call when you get this..