Just curious, did this ever go anywhere?
---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on
28/07/99 09:21 AM ---------------------------

From: Patricia Cini@ECT on 11/06/99 02:51 PM CDT

To:   Federico Cerisoli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:   Rodolfo Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don
Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William S
Bradford/HOU/ECT@ECT
Subject:  Re: Empresa Distribuidora de Energia Norte  (Document link: Brent
Hendry)

Fede-

I am reviewing this counterparty's financial statements and will advise.  We
also need to run a credit reserve for this transaction you have outlined
below.

Regards,

Pat

To:   Sara Shackleton@ENRON_DEVELOPMENT
cc:   Patricia Cini/HOU/ECT@ECT, Rodolfo
Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don
Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marie
Heard@ENRON_DEVELOPMENT
Subject:  Re: Empresa Distribuidora de Energia Norte  (Document link:
Patricia Cini)

Sara,
We are working with the customer on the subject on the transaction outlined
below.   We need your help putting together the MSA.  Pat will surely contact
you with the credit information.  Thank you very much.  Federico.

Rodolfo Freyre   05/31/99 04:55 PM
(Embedded image moved to file: pic11719.pcx)

To:   Patricia Cini/HOU/ECT@ECT
cc:   Federico Cerisoli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Don
Black/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject:  Re: Empresa Distribuidora de Energi Norte  (Document link: Federico
Cerisoli)

Pat,

EDEN is a power LDC, owned mainly by AES. We have basically offered them a
financial product that works as described below:
Attached is a one page description of the structure.

(See attached file: Structure.ppt)

Terms and Conditions of the agreement:
Volume: 20MW x 7 days a week x 24 hours a day
Term: 3 years, 1999
Start Date: August 1st.
Index: Simple hourly average Monomic at Ezeiza
Structure: "Collar" (Enron sells and EDEN buys):
- Cap: @$20.15/MWh
- 1st year, floor: @$18.14/MWh
- 2nd year, floor: @18.05/MWh
- 3rd year, floor: @17.96/MWh
Zero-cost call option (Cap) for Enron:  @$22.16/Mwh.  (Enron buys and EDEN
sells).

Example:
When Index is between $22.16 and $20.15, Enron pays to Eden. If Index is
above $22.16, Enron keeps on paying $2.01 (Difference between $22.16 and
$20.15).
When Index is between $20.15 and the floor (different every year), no
payments are involved.
When Index is below the floor price, Eden pays to Enron whatever Index minus
Floor is.

Pending issues:
Credit approval
Master Swap Agreement in place
Finalise negotiations. There is a high probability of this deal happening.
Timing for closing is close to 10 days.

If you have any questions, let  me know.

Rolo

To:   Rodolfo Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject:  Empresa Distribuidora de Energi Norte

Rodolfo-

I received your fax of the financial statements.

Will you please advise on the details of this deal.

Thank you,

Pat Cini

 - pic11719.pcx - Structure.ppt


I attach what I believe to be the final versions of the riders to the proofs of claim for EPMI, EES, ENA, EEMC and ECC.  Please contact me as soon as possible with any additional comments.

Ben Young

Bennett G. Young
One Embarcadero Center, Suite 400
San Francisco, California 94111
(415) 951-1167
byoung@llgm.com

==============================================================================
This e-mail, including attachments, contains information that is confidential and may be protected by the attorney/client or other privileges.  This e-mail, including attachments, constitutes non-public information intended to be conveyed only to the designated recipient(s).  If you are not an intended recipient, please delete this e-mail, including attachments, and notify me.  The unauthorized use, dissemination, distribution or reproduction of this e-mail, including attachments, is prohibited and may be unlawful.

==============================================================================
 - RIDERTOE.DOC
 - ridertoE.DOC
 - ridertoE.DOC
 - ridertoE.DOC
 - ridertoE.DOC


Sounds as if you will have a full day on Monday.  I am glad that you are
eager to get together to kick off your role -- we will have to save that for
Tuesday, however.  I am taking the day off on Monday to be with my parents
who will be in from Austin for one of my daughter's piano recital.  9:30 to
10:30 on Tuesday would be a great time for us to get together.  There are two
other meetings that day that I would like to have you attend with me.  One is
a weekly Risk Forum luncheon from 11:30 to 1:00 and the other is a meeting at
3:00 on trading operations for Tokyo.  I will give the details on location
and list of attendees when you and I meet on Tuesday morning.

Enjoy your next few days.  I hope that orientation is helpful on Monday.
Check with my assistant, Patti Thompson, on where you will be sitting.   I
look forward to seeing you on Tuesday.  --Sally

"Randy & Shona Wilson" <randyshona@hotmail.com> on 05/16/2000 04:03:27 PM
To: Sally.Beck@enron.com
cc:
Subject: Starting Monday the 22nd

Dear Sally,

I'm looking forward to start working on the 22nd.  I've arranged to have the
first day orientation as well as PC training on this date, which will last
until about 4:30.

I'm putting together some thoughts on how to best "kick off" my roles and
responsibilities and was wondering if you would be able to meet at 4:30 on
the 22nd to go over this.

I'm available through tomorrow at 713 356 4086 and the rest of the week at
713 628 7570.

Best regards,

Shona

________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com


Eric, sorry for the delay.  It's a busy morning.


BUSINESS HIGHLIGHTS

eSource
eSource, Enron's research group, has experienced an overwhelmingly positive response to the research training which it has hosted.  Participation and interest by Enron employees has exceeded expectations and many classes were quickly filled.  As a result, repeat classes have been offered and new sessions have been added to the program.  In addition to the Lexis-Nexis and Dow Jones classes, eSource has now begun hosting sessions on Piranha (financials and pricing information), Investext (analyst reports and market analysis), Global Access (financials and corporate activity), and Securities Data Corp. (M&A, debt).   eSource has also arranged long distance sessions using interactive web tools for Enron employees around the world.  Watch for e-mails announcing new training sessions, either in Houston or in a virtual desktop mode.

Since our launch in December, the eSearch website has received over 230,000 hits.  The site today offers Enron employees access to 34 electronic databases.  These databases offer the latest financial and business on-line research capabilities in a cost-effective manner.  In this era of information explosion, databases are constantly being reviewed to ensure that Enron's research needs are being met.  If you know of a professionally relevant database that might be added to eSearch, let us know.  Meanwhile, to further fulfill Enron's research needs, eSource is arranging for desktop access to good-old-fashioned libraries too.  Books from public and local university libraries can be located, borrowed and delivered to employees' desks.  This should be particularly helpful for those with more specialized or technical research needs.

We are also proud to report that at a recent local research conference, Enron's eSource was featured as an industry trailblazer for having invented itself into a combined virtual library and intranet-based research center capable of delivering a broad range of research products and services via the user's desktop.  Attendees from Reliant, Shell, Halliburton and ExxonMobil and others were duly impressed.

As for the future, watch for Version 2.0 of the eSearch website, http://esource.enron.com, scheduled to launch soon.  It will feature greater functionality and additional content.  Look for new features like "Industry Overviews" and links to information providers like Frost & Sullivan, Country Watch, and World Energy Markets.

IN THE NEWS

Chicago And Its Suburbs Pick Enron, ComEd For Power Deals
06/06/2001  Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.)
CHICAGO -(Dow Jones)-The City of Chicago and 47 suburban communities have decided to divide new deals for 400 megawatts of power between Enron Corp. (ENE) and local utility Commonwealth Edison Co., Chicago officials said Wednesday.
In the largest power purchase agreement in Illinois since the state choose to deregulate the industry in 1997, the local government groups will get 60% of their power from Enron and 40% from Exelon Corp.'s (EXC) ComEd. The municipalities use the power for public buildings and public transportation.
Chicago announced Monday that the group has picked ComEd to meet the renewable target by providing 80 megawatts of power created with landfill gas, wind and other sources. ComEd will also provide the coalition with another 80 megawatts of power generated with fossil fuel and nuclear plants, and Enron will provide the other 240 megawatts. The new contracts are expected to go into effect this year.
"We used our purchasing power as local governments to get the best price we could and at the same time to promote competition in Illinois. Enron gave us the most competitive price,"  Chicago Mayor Richard M. Daley said at a press conference.

WELCOME
New Hires
EGM  - Jennifer Morris, Mike Reen, Daniel Fuller, Jason Paterniti
ENA  - Craig Hawkins, Carol Langston, Mark Morrow, Harlan Murphy, Bruce Petitt, Emily Schwarzbach, Alice Wright, Allyson Zykorie

Transfers (to or within)
ENA - Thomas Kalb, Debra Brannen, Juan Camarillo, Richard Orellana
EGM - Joana Bekerman, Eric Tipp, Kellie Metcalf, Ricardo Charvel, Jason Andrade
EIM - Jaime Araoz, Gabriel Chavez, Enrique Cadena, Rosalinda Castillo, Kimberly Chick, Ana Morena, William Brown, Grisela Escamilla, Paul Burkhart, Jodi Coulter, Douglas McDowell, Catherine Pernot

NUGGETS & NOTES

Enron is hosting the Chicago Energy Risk Management Seminar at The Drake Hotel in Chicago on June 14, 2001.  Topics include: Power Outlook, Natural Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper Risk Management. The RSVP deadline is June 8th so please contact Laura Pena as soon as possible at x 3-5376.  This is a great event for "new" as well as established customers.  There will be a cocktail reception immediately after the presentations.  Enron will also be hosting seminars in Atlanta, Houston, Denver and San Francisco.  Dates to be announced soon.

Congratulations to Kathy and Craig Taylor, manager in East Origination. They are the proud parents of a baby girl, Katherine Montgomery, born on May 25.

Travel tip of the week:
When booking through TAP or ClickTrip, use preferred domestic airline carriers to recognize special Enron discounts.
	American		28%		American West		15%
	Continental		17%		Delta			10-28%
	Northwest		20%		TWA			19-25%
	United			20%		US Airways		30%

Please note: discounts are confidential and should not be disclosed to anyone other than Enron employees.

EnronOnline Statistics
Below are the latest figures for EnronOnline as of June 5, 2001.

*	Total Life to Date Transactions > 1,045,000
*	Life to Date Notional Value of Transactions > $630 billion

experience Enron
Announcing enhancements to experience Enron:
?	To begin your customer's Enron experience, we will send out customized invitations with a Guest Check-In Card that contains detailed instructions about check in.
?	experience ENRON has partnered with the Plaza Reception Desk Staff to create a less stressful check in process for your customers.  Once they present their card, the Plaza Reception Desk Staff will welcome them and present them with a prepared experience ENRON name badge.
?	experience ENRON has also created a new look for your meetings.  Our new table tents, welcome folders, name badges, agendas and presentation templates all have the same look to maintain a consistent feel throughout the visit.
?	All of this is to ensure that your guest has a unique and customized experience that will exceed their expectations and help you reach your business goals faster.
For more information on experience ENRON, visit our website at experience.Enron.com.

LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries.  It is intended for internal use only and should not be disclosed.


The report named: NG - PROPT P&L <http://trv.dev.corp.enron.com/linkFromExcel.asp?report_cd=11&report_name=NG+-+PROPT+P&L&category_cd=5&category_name=FINANCIAL&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=05/22/2001>, published as of 05/22/2001 is now available for viewing on the website.

Publisher's Notes:

test


We are attaching the following:
1. Revised draft of the Letter Agreement (marked against the drafts of 4/11
and 4/12)
2. ENA Promissory Note (marked against the draft of 4/12)
3. First Amended and Restated LLC Agreement (marked against the draft of
4/12)
4. Escrow Agreement (marked against the draft of 4/12)
5. NorSub Promissory Note (marked against the draft of 4/12)

We have no comments with respect to the Guaranty (other than the request
that the "IN WITNESS WHEREOF" appears with the signature block).

We look forward to discussing the attachments with you on Monday.
 <<Letter Agreement.DOC>>  <<blackline against April 11 draft.DOC>>
<<blackline against April 12 draft.DOC>>  <<blackline E Note.DOC>>
<<E-Note.DOC>>  <<blackline LLC Agreement.DOC>>  <<LLC Agreement.DOC>>
<<Escrow Agreement.DOC>>  <<blackline - Escrow Agreement.DOC>>  <<Promissory
Note.DOC>>  <<blackline - Promissory Note.DOC>>

"paulhastings.com" made the following annotations on 04/13/01 23:10:37
------------------------------------------------------------------------------
NEW E-MAIL ADDRESSES AT PAUL, HASTINGS, JANOFSKY & WALKER LLP

We have changed our e-mail address.  Our new domain name is
paulhastings.com.  In most cases, our address is composed of conventional
first name and last name plus @paulhastings.com.  Here are two examples:
janesmith@paulhastings.com and danjones@paulhastings.com.  If you have any
questions, please contact us at noc@paulhastings.com.

==============================================================================
"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 all
computers."

==============================================================================

 - Letter Agreement.DOC
 - blackline against April 11 draft.DOC
 - blackline against April 12 draft.DOC
 - blackline E Note.DOC
 - E-Note.DOC
 - blackline LLC Agreement.DOC
 - LLC Agreement.DOC
 - Escrow Agreement.DOC
 - blackline - Escrow Agreement.DOC
 - Promissory Note.DOC
 - blackline - Promissory Note.DOC


:
Subject: Mtg. with Gas Assets Group

The date and time of the Baxter/Whalley meeting has been changed, please mark
your calendar as follows:

_______________________________________________________________

Please mark your calendar for the upcoming "ENA Gas Assets Meeting" with
Cliff Baxter and Greg Whalley.

 Date: Tuesday, March 7, 2000

 Place: EB 5c2

 Time: 2:00 - 3:00 p.m.


CALENDAR ENTRY:	INVITATION

Description:
	Wiese's Happy Hour - Blue Agave (Waugh @ Gray)

Date:		5/3/2001
Time:		6:00 PM - 7:00 PM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:


I just spoke briefly with Brian Riley, who is working to restructure the Knig
Ranch contracts with Exxon, and put Coastal into the loop.  Yesterday I
forwarded each of you an E-mail from Steve Van Hooser which had drafts of
contracts attached.  As I talked with Brian, the King Ranch set up as he is
negotiating will be simplified.  The intent, as I understood it, is that we
will no longer buy at the wellhead.  Rather, Coastal is entering into a a
gathering agreement with HPL to buy at the wellhead and ship to the plant.
HPLC will buy at the tailgate of the plant, net of PVR.  So there will not be
future settlements with Exxon on liquids.  The paper has not been returned
from Coastal or Exxon yet, but the deal is effective 4/1/00.  Everything will
be under new agreements, with receipts and deliveries by different
counterparties.  The gas flow continues the same, just under new contracts
and different counterparties.

Daren, Pat and Stella:  Daren, Brian said he would get with you to discuss
the deal in further detail.  Please include Pat and Stella in the discussion
also.  The contracts should be reviewed and understood to ensure proper
scheduling.  As I mentioned to Greg Sharp and Brian, it is critical that we
be kept in the loop, especially on retroactive deals, as scheduling,
transport rates and risk are affected.

Thanks to everyone for ensuring the communication lines are in place.


FYI, Kim.

 -----Original Message-----
From: 	Harris, Steven
Sent:	Monday, November 12, 2001 9:33 AM
To:	Watson, Kimberly; Lohman, TK; Donoho, Lindy
Subject:	FW: TW ROFR

fyi

 -----Original Message-----
From: 	Miller, Mary Kay
Sent:	Thursday, November 08, 2001 1:05 PM
To:	Harris, Steven; Pryor, Tony; Hass, Glen; Darveaux, Mary; Lokey, Teb; Kirk, Steve; Pavlou, Maria; Rapp, Bill
Subject:	TW ROFR

  Upon receipt of a notice to exercise ROFR, you must determine the criteria of when the notice is required,  In the example provided I'm told it required a one year notice therefore if the contract terminated 10/31/02, notice was due 10/31/01.  Therefore 10 days after 10/31/01 the capacity must be posted for bidding.  In the interim, since it has not yet been posted a transaction could be negotiated and the shipper would then be required to provide notice of resinding the original election to participate in the Rofr process.  If this isn't clear, please call    MK


FYI, he looks interesting.
m
---------------------- Forwarded by Mike McConnell/HOU/ECT on 05/21/2001
11:53 AM ---------------------------
From: Richard DiMichele@ENRON COMMUNICATIONS on 05/18/2001 04:28 PM
To: Mark Frevert, Mike McConnell/HOU/ECT@ECT, Jeffrey McMahon/HOU/ECT
cc:
Subject: Anuj Gupta

Anuj is a great guy who worked for me then left (as they all do!) to work for
a dot com.  The business has folded and now he's looking to get back into
Enron in a structuring role.  He's a real smart guy with an MBA from Harvard
and a petroleum engineering background.  He worked for the Global Investments
group of EI before coming over to broadband.  I think he would be a dynamite
structuring guy, or could help out in the upstream side of the petroleum
business.  Do any of you have a need?  Rich
----- Forwarded by Richard DiMichele/Enron Communications on 05/18/01 04:26
PM -----

	anuj_gupta_1@hotmail.com
	05/15/01 10:12 AM

		 To: Richard DiMichele/Enron Communications@Enron Communications
		 cc:
		 Subject: Resume

Rich,

My resume is attached.

Within North America or EES, I am interested in either:
a) Structuring, or
b) Risk Mgmt (Gas or Power desk)

Thanx & rgds,

Anuj
----- Original Message -----
From: <Richard_DiMichele@enron.net>
To: <anuj_gupta_1@hotmail.com>
Sent: Tuesday, May 15, 2001 9:31 AM
Subject: Re: How ya doin'?

Re-send me your c.v.  I will forward it to my contacts in North America and
EES.
Good luck.  Rich

 - Anuj Gupta-resume.doc


Start Date: 3/12/01; HourAhead hour: 18;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001031218.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 18 / Preferred:  51.66 / Final:  51.63)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 3/12/01
  SC_ID: EPMI


Good morning.

Here is the email you mentioned.

Have a great day!

Love,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 08/30/2000 08:52
AM ---------------------------

	Enron North America Corp.

	From:  Kay Mann                           08/22/2000 04:26 PM

To: Bill and Rita McCall <bmccall@wcnet.net>
cc:

Subject: Re: Palacios calling

Hi there,

Paige is still here.  I think she may leave tomorrow.  Have you ever visited
her website?  Here's a link:
http://www.southwestern.edu/~recordp/

You might trying clicking on the link to see if it takes you directly to her
web page.  She will have the same email address again this year.  I suspect
she will have the same mailing address as well, since it is a box number.

Michael slept well this weekend.  He had a great birthday.  He takes his
dinosaur everywhere.  It is so funny, because the button gets pushed
accidently when it is being hauled around, so it is constantly growling.

We saw a few drops of rain, but nothing to help the water bill.  The smog is
horrible.

I'm in town all week this week, which is nice.  Neil and I have a birthday
party to go to for our neighbor Donnie (he was at the party) on Friday, so
Michael will spend some time with Charlotte again. She should be off of most
of her restrictions tomorrow, so maybe he will get to see her more.

We went to the Astros game last night, and they actually won.  Sammy Sosa hit
a home run harder than any I've seen before.  Even some of the Astros fans
clapped at the sheer force of it.  The pitcher said he watched it, just
because he had never seen such an awesome hit.

Too bad about the heat, but what the heck can you do about it anyway?

Love,

Kay

Bill and Rita McCall <bmccall@wcnet.net> on 08/22/2000 10:17:25 AM
To: Kay.Mann@enron.com
cc:

Subject: Palacios calling

Hi Kay Kay,Just wanted to say Hi. Did Houston really see rain today? We had
about five drops. We have had a nice quiet week. We did buy five pounds of
shrimp from Grassy Point. Has Michael rested up from this birthday party?
We plan to be here until sometime next week. Has Paige gone back to school
and will she still have the same email address? Tell neil Dad will sent a
fishing report when he has one. He really has not fished much. It's just to
hot. Love,Mother


Thanks.  Great point.  We discussed but for the group of candidates they have this weekend are mostly from the US and they want to captured this level of detail.  A box called "Other" is put at the end to capture those non-US locations.
ay

-----Original Message-----
From: Cash, Michelle
Sent: Sat 10/27/2001 5:21 AM
To: Yowman, Andrea
Cc:
Subject: RE: copy of questionnaire in MSWord

My one comment relates to the "where are you from" question.  We only list states in the US -- what about foreign-born students?  It seems like it would be a good idea to list regions of the US, then add Mexico, Canada, Carribbean, UK, Europe, Middle East, Asia, etc. to be more inclusive.  What do you think?

-----Original Message-----
From: Yowman, Andrea
Sent: Thu 10/25/2001 9:40 AM
To: Cash, Michelle
Cc:
Subject: copy of questionnaire in MSWord

<<AA SuperSaturday Questions.doc>>
Andrea Yowman
Enron Corp
713-853-1477


Priscilla,

In response to your e-mail of 2/28 please see the following remarks.

1. Confirming Party:   Enron  desires to be confirming party.

2. Choice of Law:   Agree to NY law.

3.  Performance Obligation:   ENA cannot agree to cover standard,

"Special Provisions"

1. ENA does not agree to the suggest change as the transaction procedure is
"oral".

2. Section 11.1   Cannot agree to revisions to this section.

3. Agreed
4.             Agreed

Enron does not agree to suggested Special Provisions.

Please feel free to give me a call to discuss and issues regarding this
matter.

Regards,
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


Sally,

I reviewed the salaries of my team with Hector.  Based on this discussion, I
recommend the following:

Please let me know if you have any questions.

Thanks
Sheri


J.-

Just got an RFP from Border Steel, Inc., A Texas Corporation.  The RFP
response is due on Thursday - and I know you said steel companies are BAD
but,


Can you go to lunch next Tues, Wed, or Thurs?


sounds good.  I think we should not talk about the conversations with the
governor . . . I'd rather not prompt them to go to the gov (presumably to
object to the gov talking to us without talking to them at the same time).

	Jeff Dasovich
	Sent by: Jeff Dasovich
	10/11/2000 02:54 PM

		 To: Richard Shapiro/NA/Enron@Enron, skean@enron.com, Sandra
McCubbin/SFO/EES@EES, Paul Kaufman/PDX/ECT@ECT, James D
Steffes/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Susan J
Mara/SFO/EES@EES, Mona L Petrochko/SFO/EES@EES, mpalmer@enron.com, Karen
Denne/Corp/Enron@ENRON
		 cc:
		 Subject: Meeting w/Sempra

FYI.  Recently, Chris Calger has asked me to set up a meeting with Sempra.
ENA's seeking deals with the two big CA gas IOUs (PG&E and SoCalGas) that
would give ENA access to their assets.  In short, ENA wants to offer a
complete outsource deal for the IOUs' core gas load (i.e., rez and small
commercial customers).  ENA would take responsibility for providing service
for delivery at the city gate and in return would manage all of core's assets
(upstream of the city gate).  We're meeting with Sempra's "Chief Regulatory
Office" (Bill Reed) and Sempra's CFO next Thursday to discuss.

Given the fact that Sempra's primarily focused on electricity, the plan is to
lead off the meeting with a couple of electricity solutions as a bridge to
the gas offer.  For electricity, the plan has two pieces:  1) a commodity
offer that beats the 6.5 cent cap (i.e., nothing fancy) and 2) "Deal Bench"
services with the intent of establishing a procurement mechanism for SDG&E
that the California PUC could pre-approve (thereby eliminating some of the
immense regulatory risk SDG&E now faces).

Wanted to run this by folks to gauge reactions.  We'll distribute the slides
we're putting together as soon as they're drafted--hopefully by COB Friday.

Best,
Jeff


Start Date: 4/23/01; HourAhead hour: 13;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042313.txt


FYI....

To keep things consistent all of the traders, except the financial group, will use their physical books to log in for EOL.

 -----Original Message-----
From: 	Kenne, Dawn C.
Sent:	Friday, January 11, 2002 10:42 AM
To:	Keiser, Kam
Cc:	Moorer, Torrey; Sweitzer, Tara; Lozano, Melba; Denny, Jennifer
Subject:	Trader Log In

Kam,

As we discussed this morning, the traders will be using their physical books to log onto EOL with the exception of the financial desk (John Arnold and team).  Behind the scenes, EOL will  set these traders up in the Counterparty Alternates table to have the books "flip" to the respective financial book when a financial trade is hit.

Also, any word yet on the traders wanting a different book for price, basis and index.  We are still under the assumption that the trades will book under one book.

Please let me know if you have any further questions.

Thanks,
Dawn


We have not heard back from Carla about her jury duty and whether it will
continue through tommorow.  Therefore could you inform your group to continue
sending the deal correction e mails to me until further notice.  Thank you
for your attention to this matter.


Whether you're investing for your kids' education or your retirement, the
new federal tax law may make your goals easier to reach. The $1.35-trillion
tax relief package could affect your finances in many areas, from investing
for college and retirement to managing income and estate taxes.

Many of the tax cuts will phase in gradually over the next several years.
But to help you take advantage of all possible provisions, we should start
planning soon. Some of the ways you may benefit include:

Lower income tax rates. The gradual reduction of tax rates has already
begun. In fact, the new withholding schedule went into effect on July 1.
And, you should receive a tax rebate check soon due to the creation of a new
10% bottom rate retroactive to January 1, 2001. As tax rates fall over the
next few years, your disposable income will likely rise - offering an
opportunity to invest more toward your various goals.

Education-funding incentives. Parents who want to help their children attend
college may now find their financial task easier. The tax relief act will
improve education savings tools such as:

? Education IRAs - The accounts' contribution limit will rise from $500 to
$2,000 in 2002. What's more, money in these accounts can now be used for
elementary and secondary school costs in addition to higher education
expenses.

? State sponsored 529 college savings plans - Also beginning in 2002,
distributions from these plans for qualified education expenses will be tax
free. Currently earnings in the accounts are deferred and taxed at the
beneficiary's rate upon withdrawal. 529s are particularly attractive due to
their generous contribution limits.

? Deductions for education expenses - The act increases eligibility for
student loan interest deductions and it creates a new deduction for higher
education expenses.

? The Child Tax Credit - Though not tied specifically to education expenses,
this credit will provide increasing help to parents investing for college.
Previously $500 per qualifying child under 17, the credit increases to $600
in 2001-2004, $700 in 2005-2008, $800 in 2009 and $1,000 in 2010 and
thereafter.

Higher retirement plan contribution limits. The tax act will allow people
with earned income to invest more in retirement plans and IRAs - possibly
helping them retire sooner and more comfortably. Your options may include:

? Traditional and Roth IRAs - Annual contribution limits for both of these
types of IRAs will gradually rise from $2,000 this year to $5,000 in 2008.
After that, the limits will be indexed to inflation in $500 increments.

? 401(k)s and 403(b)s - Working individuals also may be able to invest more
in their employer retirement plan. The limit on elective deferrals will
gradually rise from $10,500 this year to $15,000 in 2006, and this doesn't
include the catch-up contribution provision for people 50 years and older.

And much more. There are other provisions in the new tax law that may
benefit you and your family. When we meet, we'll identify the ones that
apply to you and help you make the most of them.

As you can see, the new tax law provides meaningful tax savings in a number
of areas. But because the changes will be phased in gradually - and some are
set to expire after 2010 without reauthorization - your planning must be
flexible enough to react to year-by-year changes.

Such planning is where American Express Financial Advisors excels. I'm
backed by a corporate team of specialists in taxation, investments, estate
and retirement planning, and more to help you make the most of your
finances.

Let me know if you have any questions. I look forward to seeing you.
Byron

"Make all you can, save all you can, give all you can."

				               JOHN WESLEY

Byron W. Ellis, CFP(tm), CLU, ChFC
Senior Financial Advisor
American Express Financial Advisors
IDS Life Insurance Company
1450 Lake Robbins Drive
Suite 100
The Woodlands, TX  77380

Phone	281.367.8658 ext. 2227
Fax	281.364.9628
E mail	byronellis@usa.net

 - winmail.dat


Is there a way to enter the rate combinations (discounts) per point or does it have to be by contract?

 -----Original Message-----
From: 	Betancourt, Ramona
Sent:	Wednesday, September 19, 2001 1:28 PM
To:	Donoho, Lindy; Brown, Elizabeth; Trevino, Linda; Kedwaii, Hasan; Dunnaway, Tina; Licciardo, Jeanne; Brostad, Karen; Duff, David
Cc:	Watson, Kimberly; Lohman, TK; Dietz, Rick; Blair, Lynn; Holmes, Bradley; Lokey, Teb
Subject:	RE: East of CA Questions

Lindy,
Do you know if we have any FERC reporting that we must report on for any reason that we would need to show the correct rates tied to the correct basin? My concern would be in areas like this when we keep the points in the W. of Thoreau and entering discounts, is there any reporting issues, or regulatory issues? TK, are you  OK with entering discounted rates all the time on all contracts? Can we enter the right tariff rates for these points?
Thanks Ramona

 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Wednesday, September 19, 2001 1:00 PM
To:	Betancourt, Ramona ; Brown, Elizabeth; Trevino, Linda; Kedwaii, Hasan; Dunnaway, Tina; Licciardo, Jeanne; Brostad, Karen; Duff, David
Cc:	Watson, Kimberly; Lohman, TK; Dietz, Rick; Blair, Lynn; Holmes, Bradley
Subject:	RE: East of CA Questions

The only circumstance where the East of CA distinction makes a difference is for tariff rate purposes (except for some policy issues concerning allowing capacity release to the border on contracts with a primary delivery point in East of CA).  East of CA is treated like West of Thoreau for other purposes such as allocations.  I was thinking that maybe we can address this by entering point-level discounts for the East of CA points (Griffith, Calpine, SWGas and the Citizens points).  Would that work without having to make numerous changes elsewhere?  Let's discuss.

 -----Original Message-----
From: 	Betancourt, Ramona
Sent:	Wednesday, September 19, 2001 11:52 AM
To:	Brown, Elizabeth; Trevino, Linda; Kedwaii, Hasan; Dunnaway, Tina; Licciardo, Jeanne; Brostad, Karen; Duff, David
Cc:	Donoho, Lindy; Watson, Kimberly; Lohman, TK; Dietz, Rick; Blair, Lynn; Holmes, Bradley
Subject:	RE: East of CA Questions

Elizabeth,
 To my knowledge, the downstream PLE(Old and New), CBS Rates/Contracts, & CAS systems do not have the new basin. We will need to get these systems coded with the new basin, then get the TMS system updated and coded . I am not sure if other systems are impacted. We need to schedule a meeting with all involved from the business side and system side to determine what systems will need to be updated & who will define the requirements for these systems. Please respond to this email and let me know who from your team should be included in this meeting so I can set one up. Will you be available to meet next week or will this need to wait until after the Oct. 1st system implementation?

Thanks Ramona

 -----Original Message-----
From: 	Brown, Elizabeth
Sent:	Wednesday, September 19, 2001 9:56 AM
To:	Betancourt, Ramona
Subject:	FW: East of CA Questions
Importance:	High

Ramona,

This issue came up a long time ago regarding East of California.  I know in previous discussions, we said we would postpone because of all the downstream systems that would be impacted.  Did we ever implement changes to account for this as a separate basin under the West of Thoreau area?  If not, we need to get this in place very quickly since we have so many new points that fall into this group.

Thanks,
Elizabeth

 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Wednesday, September 19, 2001 8:12 AM
To:	Lohman, TK; Lokay, Michelle; Lindberg, Lorraine; Y'Barbo, Paul; McConnell, Mark; Brown, Elizabeth
Cc:	Watson, Kimberly; Harris, Steven; Pavlou, Maria; Moore, Jan
Subject:	East of CA Questions

FYI.  I have left a message for Maria concerning our rate question (should the East of CA tariff rate apply to SWGas, Griffith & Calpine).

Along similar lines, here is another related issue that I am following-up on with Maria concerning East of CA customers' right to release capacity to the CA border.

 -----Original Message-----
From: 	Pavlou, Maria
Sent:	Monday, September 17, 2001 12:56 PM
To:	Donoho, Lindy
Cc:	Watson, Kimberly; Harris, Steven
Subject:	RE: Global Settlement Question

Your memo raises a lot of good questions.  In analyzing this issue it would be helpful to know what type of rates we have agreed to with the shippers that have primary delivery points East of California.  Are they all negotiated rates? Are any max. rates?  In addition, I think we need to review what rights we have provided Citizens and other EOC shippers.  I'm assuming they cannot release their capacity to California.  Have we let them use California delivery points on an alternate basis?  If so, for what term?  on a limited basis or throughout the term of their contract?  Let's also review the situation whereby we let PGE use Ignacio as an alternate receipt point.  My recollection is that we do not let them release Ignacio because it is not part of their primary path.  I think it would be helpful to have Elizabeth in these discussions.

I reviewed the language in the Docket No. RP93-34 settlement and it is not specifically limited to Citizens.  It provides that we would establish an EOC rate for deliveries from Thoreau/San Juan point to East of California points.  The Maximum FTS-1 rate was 3.5 cents less than the maximum FTS-1 rates otherwise applicable to shippers in the WOT area.  That settlement also prohibited capacity releases by shippers paying the lower EOC rate to California delivery points.  The rates in this settlement were locked in under the Global Settlement.  Tariff sheet no. 5A has a footnote that provides that the max. reservation charge is applicable to all delivery points west of the Thoreau/San Juan Point except for deliveries to California.

Pls. let me know when we can discuss this further.  Thanks, Maria
 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Monday, September 17, 2001 8:47 AM
To:	Pavlou, Maria
Cc:	Watson, Kimberly; Harris, Steven
Subject:	Global Settlement Question

Now that we're going to have new East of CA shippers (with Red Rock), I wanted to know if customers with primary DP's in East of CA were precluded from releasing capacity to the CA border (like Citizens).  I didn't know if this applied to anyone paying an East of CA rate or if it was particular to Citizens in the settlement.

If they are precluded from releasing to the CA border, what if they agreed to pay the CA border reservation rate when they released to the border?  Even then, I'm not sure what the "East of CA" customers traded for their reservation discount because it's not like they'd be paying the greater reservation all the time for the right to release to the border.

Let me know when you have a chance to discuss.  It's not urgent, but I thought we should be sure to communicate this correctly to our new East of CA shippers.


---------------------- Forwarded by Fletcher J Sturm/HOU/ECT on 07/13/2000
02:20 PM ---------------------------

Fletcher Sturm <trademup@yahoo.com> on 07/13/2000 12:50:12 PM
To: fsturm@enron.com
cc:
Subject:

Do You Yahoo!?
Get Yahoo! Mail - Free email you can access from anywhere!
 - Vegas.ppt


Ricardo,

This consultant report has Brunner Island back on. Our sheet doesn't have it
coming back untill Nov.3. Which is correct?

Chris
---------------------- Forwarded by Chris Dorland/HOU/ECT on 11/01/2000 04:00
PM ---------------------------

"Brad Galante" <strat_alert@hotmail.com> on 11/01/2000 02:52:11 PM
To: ghopley@enron.com, Rogers.Herndon@enron.com, Mark.Dana.Davis@enron.com,
Kevin.M.Presto@enron.com, Paul.J.Broderick@enron.com, pdth39@hotmail.com,
Chris.Dorland@enron.com, Ricardo.Perez@enron.com
cc:
Subject: 1600 Report

_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.

Share information about yourself, create your own public profile at
http://profiles.msn.com.

 - 11-01 1600.xls


------------------------------------------------------------------------------------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

December 14, 2001 5:00pm through December 17, 2001 12:00am
------------------------------------------------------------------------------------------------------

SCHEDULED SYSTEM OUTAGES:

ARDMORE DATA CENTER - FACILITY OPERATIONS:   No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI: No Scheduled Outages.

EES:  No Scheduled Outages.

ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS:   No Scheduled Outages.

ENRON NORTH AMERICAN LANS:

Impact:   ENS
Time:   Fri 12/14/2001 10:00:00 PM CT thru Fri 12/14/2001 11:00:00 PM CT
	Fri 12/14/2001 8:00:00 PM PT thru Fri 12/14/2001 9:00:00 PM PT
	Sat 12/15/2001 4:00:00 AM London thru Sat 12/15/2001 5:00:00 AM London
Outage:   Clean up routing
Environments Impacted:   ENS
Purpose:    Optimize routing
Backout:   enable vlan 7 on ecn-34-trd-dcr1/2
Contact(s):   Shishido, Scott 713-853-9780

FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

MESSAGING: No Scheduled Outages.

MARKET DATA: No Scheduled Outages.

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS: No Scheduled Outages.

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY:  No Scheduled Outages.

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:  No Scheduled Outages.

----------------------------------------------------------------------------------------------------------------------------
								FOR ASSISTANCE

(713) 853-1411   Enron Resolution Center

Specific Help:
Information Risk Management			(713) 853-5536
SAP/ISC                                                                               (713) 345-4727
Unify On-Call 					(713) 284-3757  [Pager]
Sitara On-Call					(713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS			(713) 639-9726  [Pager]
OSS/UA4/TARP				(713) 285-3165  [Pager]
CPR						(713) 284-4175  [Pager]
EDI Support 					(713) 327-3893  [Pager]
EES Help Desk					(713)853-9797 OR (888)853-9797
TDS -Trader Decision Support On-Call                    (713) 327-6032 [Pager]


Sorry for the delay.  I was alone today.
r


Content-Transfer-Encoding: quoted-printable
Date: Tue, 29 May 2001 12:17:15 -0500
From: "Tracey Bradley" <tbradley@bracepatt.com>
To: "Justin Long" <jlong@bracepatt.com>
Cc: "Aryeh Fishman" <afishman@bracepatt.com>, "Andrea Settanni"
<asettanni@bracepatt.com>, "Charles Ingebretson"
<cingebretson@bracepatt.com>, "Charles Shoneman" <cshoneman@bracepatt.com>,
"Deanna King" <dking@bracepatt.com>, "Dan Watkiss" <dwatkiss@bracepatt.com>,
"Gene Godley" <ggodley@bracepatt.com>, "Kimberly Curry"
<kcurry@bracepatt.com>, "Michael Pate" <mpate@bracepatt.com>, "Marc F.
Racicot" <mracicot@bracepatt.com>, "Neil Giles" <ngiles@bracepatt.com>, "Paul
Fox" <pfox@bracepatt.com>, "Ronald Carroll" <rcarroll@bracepatt.com>, "Scott
Segal" <ssegal@bracepatt.com>
Subject: UPDATE 1-New energy moves by W.House before Bush-Davis meet
Mime-Version: 1.0
Content-Type: text/plain; charset=ISO-8859-1
Content-Disposition: inline

FYI

UPDATE 1-New energy moves by W.House before Bush-Davis meet

WASHINGTON, May 28 (Reuters) - On the eve of a showdown meeting on
California's power crisis between California Gov. Gray Davis and President
George W. Bush, the Bush administration on Monday moved to help ease the
crisis.

Energy Secretary Spencer Abraham unveiled plans to boost extra transmission
capacity in California, which he said would be a "big step" in easing rolling
power blackouts.

Abraham ordered the Western Area Power Administration -- an Energy Department
arm responsible for marketing electricity from federal water projects in 15
Western states -- to wrap up planning for building extra transmission
capacity.

The move came as Bush headed to California for his first presidential visit,
and a critical meeting on Tuesday in Los Angeles with the Democratic governor.

Davis will ask Bush to impose wholesale electricity price controls and order
refunds for overcharged consumers, aides said, but the White House on Monday
reiterated Bush's position that such steps would be counterproductive.

Davis spokesman Steven Maviglio said the steps announced by Abraham were not
new and were not the kind of help California needed to meet its immediate
crisis. "That's been kicked around for a while," he said.

Davis said last week he was prepared to "go to court" if Bush failed to act.
"The law says we're entitled to relief and it hasn't been coming," Davis said.

White House spokeswoman Claire Buchan said that while Bush had "worked very
hard" to help California, through measures such as ordering the Defense
Department to reduce its energy use by 10 percent in California and easing
rules for using backup power generators, price controls "make the problem
worse."

TRANSMISSION BOTTLENECK

At issue in Abraham's order is so-called Path 15, an 84-mile stretch of power
lines with insufficient capacity to carry the necessary load between southern
California and the northern part of the state, especially during peak hours.

Abraham told WAPA to determine whether outsiders were interested in financing
and co-owning a new transmission line. "The level of interest will be a
factor in the decision to build the line later this year," the Energy
Department said in a statement.

The statement did not make clear whether the federal government would go
ahead with the project in the absence of outside financing, nor did it give
cost details.

It said WAPA, which manages nearly 17,000 miles of transmission lines, would
prepare the necessary environmental and feasibility studies and review
easement and land acquisition issues.

LEADERSHIP ROLE

"The Bush administration is taking a leadership role in addressing a
long-neglected problem in California's electricity transmission system,"
Abraham said. "California's electricity problems developed over a period of
years and cannot be solved overnight. However, we can move now on actions
that will help avert the same types of problems from recurring year after
year.

"Removing the so-called Path 15 bottleneck is a big step in the right
direction," he said.

The Energy Department said a new line could transmit across the state an
additional 1,500 megawatts of electricity, enough to power 1.5 million homes.

Planning for additional transmission in the Path 15 area was started in the
mid-1980s.

California's energy crisis is rooted in a flawed 1996 deregulation plan that
allowed wholesale power prices to soar while capping retail rates.

The result has brought rolling blackouts, spotty power supplies and put
intense pressure on Davis to come up with ways to solve a worsening energy
crunch that has also drained billions of dollars from state coffers.

It has also energized potential opposition to Davis's expected 2002
reelection bid. Bush has encouraged Los Angeles Mayor Richard Riordan to
challenge Davis.

------------------------------------------------------------------------------
--

Copyright , 2001 Reuters Limited


Attached is an electronic version of the Merger Agreement that we executed with Dynegy.  As is typical with these types of transactions, there are limitations imposed on Enron's operations between signing and closing of the Merger Agreement.  Please help ensure that each transaction entered into by Enron and its subsidiaries complies with the agreement, and particularly Section 7.1 of the agreement relating to conduct of business.  Peter del Vecchio (at ext. 39875) and Joe Henry (at ext. 51549) are available to help address specific questions regarding our interim operations.  Rob Walls, John Ale, Mark Haedicke and myself are also available, and we will help determine if we need Dynegy's consent for any particular proposed transaction.  We are in the process of summarizing the interim covenants, as well as establishing certain procedures to ensure our compliance.  I anticipate distributing these items on Thursday.  We are also having prepared a memorandum regarding certain anti-trust and other issues that we need to consider in any involvement we have with Dynegy regarding our respective operations.  We currently plan on having various presentations regarding the anti-trust matters.  Please pass the merger agreement and the subsequent materials on to others in your group as you think appropriate.  Thank you for your help and understanding in this matter.  Lance.

Merger Agreement for Project Gipper.DOC

W. Lance Schuler
Enron North America Corp.
1400 Smith Street
Houston, Texas  77002
Phone: 713/853-5419
Fax:  281/664-4890
Email:  lance.schuler-legal@enron.com


FYI - Margin schedule for Seqent prepays to cover City of Tallahassee swings.

Jared

 -----Original Message-----
From: 	Kaiser, Jared
Sent:	Monday, January 28, 2002 12:47 PM
To:	Boyt, Eric
Subject:

Eric,

Updated and attached is the Sequent spreadsheet showing ENA's margin.  Price the gas according to Gas Daily to ensure positive margin.  You can see the losses when the price is fixed.

Jared


Mark, thanks for the infromation but I do want the Chief Executive Officers
name.
thanks,
mike

Mark Scott@ENRON
11/14/2000 02:23 PM
To: Mike McConnell/HOU/ECT@ECT
cc: Jenny Rub/Corp/Enron@Enron, Paige Cox/Enron@EnronXGate
Subject: DSL - Issues

Mr. McConnell

I hope this information will help.  All I have is the Regional VP name for
SWB.  Here is his information.

Russ Phelps
6500 West Loop South Zone 3.1
Bellaire, TX  77401
Phone 713-567-8333
Email russ.phelps@sbc.com

Mark Scott
Enron Net Works
713-345-7351
mark.scott@enron.com


Start Date: 3/31/01; HourAhead hour: 9;  HourAhead schedule download failed.
Manual intervention required.


This article from NYTimes.com
has been sent to you by vkaminski@aol.com.

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The Real Wolf

RECKONINGS
By PAUL KRUGMAN

ecently I received a letter from an economist I respect, chiding me
for my "Naderite" columns on the California energy crisis. He just
didn't believe that market manipulation by power companies could
possibly be an important issue; it sounded too much to him like the
sort of thing one hears from knee-jerk leftists, who blame greedy
capitalists for every problem, be it third-world poverty or high
apartment rents. The left has cried "Wolf!" so many times that
sensible people have learned to discount such claims.

 But now a bona fide wolf has arrived, whose predatory behavior is
doing terrible damage to our most populous state * and nobody will
believe it.

 True, California would be heading for a summer of power shortages
even if it had never deregulated. And even if there was workable
competition in the wholesale electricity market, prices in that
market would spike during periods of peak demand, transferring
billions of dollars from either taxpayers or consumers to the
generators.

 But the evidence is now overwhelming that there isn't workable
competition in California's power market, and that the actions of
generators "gaming the system" have greatly magnified the crisis.
The key fact is that California has somehow remained in a state of
more or less continuous power shortage and very high wholesale
prices regardless of the level of demand. A rash of outages has
kept the electricity market conveniently * and very profitably *
short of supply even during periods of low demand, when there ought
to be lots of excess capacity.

 As Frank Wolak, the Stanford economist who also advises the
state's power grid, has pointed out, an outage at a power plant is
a lot like an employee calling in sick. You can't tell directly
whether he is really sick or has chosen to take the day off for
other reasons, but you can look for circumstantial evidence. And
such evidence has convinced Mr. Wolak that "generators use forced
outages strategically to withhold capacity from the market" * a
view shared by a growing number of other researchers.

 Which brings us to the latest move by the Federal Energy
Regulatory Commission. On Wednesday, the commission apparently
decided to offer California some relief, and put new price caps in
place on the California electricity market. I say "apparently"
because the more you look at the plan the less likely it seems to
be any help at all. Indeed, the measure was passed on a 2-to-1
vote, with William Massey * the one commissioner who has been
sympathetic to calls for price controls * voting against it on the
grounds that it would be ineffectual.

 What's wrong with FERC's plan? First, it caps prices only in
emergency conditions * ignoring the fact that electricity prices
have stayed at hard- to-explain levels even when there is no
emergency. In effect, the plan is laid out as if the electricity
market were really competitive, in spite of all the evidence that
it is not.

 Second, even those emergency price caps are full of loopholes,
offering extensive opportunities for what Mr. Wolak calls "megawatt
laundering" * selling power to affiliated companies that for one
reason or another are exempted from the price controls (for
example, the controls do not apply to "imports" from neighboring
states), then selling it back into the California market. Severin
Borenstein of the University of California Energy Institute adds
that because the allowed price depends on the cost of generation at
the least efficient plant, generators will have a clear incentive
to produce inefficiently: "I predict we will find some plants we
never heard of before that are suddenly operating again, and they
will be pretty inefficient."

 The general verdict seems to be that this is not a serious plan.
There are serious proposals to mitigate the crisis out there *
indeed, last fall Mr. Wolak submitted a proposal that was well
received by other experts * but FERC has ignored all of them.

 The charitable interpretation is that FERC still doesn't get it,
that it just can't bring itself to believe that this time the wolf
is real. The uncharitable interpretation is that last week's action
was meant to fail. The Medley Report, an online newsletter, calls
the FERC plan "a grand exercise in posturing without substance . .
. a very clever temporary move by the Bush administration to
deflect any political fallout" from the looming disaster.

 Whatever the explanation, the plain fact is that FERC and the
administration have yet to offer California any significant
relief.

http://www.nytimes.com/2001/04/29/opinion/29KRUG.html?ex=989601563&ei=1&en=6a9
00f004b3b1abf

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[IMAGE]
  Doug's weather for 1/30/2002 Update Profile  | Unsubscribe    [IMAGE]  Local Outlook for Houston, TX           5 DAY FORECAST        Hi  Lo  Today  [IMAGE] Partly Cloudy ?F  67?F  Thu  [IMAGE] Strong Storms 72?F  40?F  Fri  [IMAGE] Mostly Cloudy 52?F  35?F  Sat  [IMAGE] Mostly Cloudy 58?F  43?F  Sun  [IMAGE] Mostly Cloudy 63?F  47?F      [IMAGE]              DETAILED FORECAST    Tonight: Cloudy skies.  Low around 67F. Winds SSE 10 to 15 mph. Tomorrow: Variable clouds with a chance of thunderstorms. A few may be severe, especially in the morning.  High near 72F. Winds NW 15 to 20 mph. Chance of precip 70%. Tomorrow night: Cloudy.  Low near 40F. Winds N 10 to 15 mph. Friday: Mostly cloudy skies.  High around 52F. Winds N 15 to 20 mph.          WEATHER HEADLINES   Midwest, Plains storm charges eastward  A storm that has glazed and whitened the southern Plains and parts of the Midwest today is now targeting the Northeast.  [IMAGE] More details   [IMAGE]      MAPS  Doppler Radar Maps  Other Maps    CURRENT CONDITIONS AND 10 DAY FORECAST  Houston, TX   Austin, TX  Corpus Christi, TX  Dallas, TX        IN THE SPOTLIGHT - Ski Features  The powder is piling up! Introducing ski  on weather.com...   Want to know what the weather is like on your favorite ski slopes?  Is the surface snow powdery, or is it packed?  Want more information on the resort?     Our newly revamped Ski section on weather.com  features detailed local forecasts for ski areas worldwide with trail maps, web cams, and comprehensive resort details.  It also includes our exclusive Ski Comfort Index, that helps you decide where and when will be best for skiing.  Ski by it!  weather.com/ski     HEALTH  Are you a human barometer?  Changes in the weather have long been associated with joint pain, headaches and other health concerns.  weather.com's new Aches and Pains section can help you be prepared.    [IMAGE]   Aches & Pains Features   Air Quality Reports   Personal Allergy Profile    click to enlarge        SITE LINKS   For more information on additional topics choose from the following links:    Home and Garden  School Day  Weather In Your Calendar
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Notice No. 01-127
April 11, 2001

TO:
ALL NYMEX DIVISION MEMBERS

FROM:
Neal Wolkoff
Executive Vice President

RE:
Amendments to NYMEX Rule 6.05(A) (&Transactions, Bids and Offers on the
Trading Floor8)

 Please be advised that NYMEX Rule 6.05 (A) has been amended.  A copy of the
amendments is included below.   The amendments will become effective on
Monday, April 16, 2001.

 The amendments relate to the quantity which is understood to be bid or
offered in the ring when no quantity is specified.  Currently, this amount is
five contracts for NYMEX crude oil, natural gas, heating oil, unleaded
gasoline, platinum and palladium futures contracts.  The amendments change
this quantity to ten contracts for the above-referenced products.

 If you have any questions, please contact George Henderson, Vice President )
Floor Operations at 212-299-2071.

NEW AMENDMENTS TO NYMEX RULE 6.05(A)

(Asterisks indicates additions; brackets indicate deletions.)

Rule 6.05.  TRANSACTIONS, BIDS AND OFFERS ON THE TRADING FLOOR

(A) Except as otherwise specifically provided in the Bylaws and Rules, all
purchases, sales, bids and offers for futures and options contracts:

(1) shall be executed openly and competitively by open outcry in the
appropriate trading ring during the authorized hours of trading;

(2) shall, for light sweet crude oil, heating oil, New York Harbor unleaded
gasoline, natural gas, platinum and palladium futures contracts, be
understood to be for [five] * ten * contracts where no quantity is specified,
and, for all other futures contracts and all options contracts, be understood
to be for one contract where no quantity is specified;

(3) shall be open to the first Member immediately accepting such bid or offer;

(4) shall be binding upon the first Member accepting such bid or offer or
part of such bid or offer at the price named by the bidding or offering
Member; and shall be deemed withdrawn if not accepted immediately.

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

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(01-127)"

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


oh yeah i forgot, ill buy you a drink

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Tuesday, November 27, 2001 9:57 AM
To:	Maggi, Mike
Subject:	RE:

you are mean!  aren't you supposed to be nice to me at least part of today?


CALENDAR ENTRY:	REMINDER

Description:
	Russell on call

Date:		8/26/2001
Time:		8:00 AM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:


Below please find instructions on retrieving "Transmission Week" and "Energy
Argus" publications for your review.   We are currently waiting on "U.S.
Power - East" and "Weekly Power Plays", once these publications are received
they will be set up to retrieve like the others.   If anyone experience any
problems retrieving these publications, please call Mark Symms at x3-3105.

Many Thanks,

Felicia Haynes

---------------------- Forwarded by Felicia Doan/HOU/ECT on 11/27/2000 10:12
AM ---------------------------

	From:  Mark Symms @ ENRON                           11/27/2000 08:58 AM

To: Felicia Doan/HOU/ECT@ECT
cc:
Subject: Subscription Update

Felicia,
 We have received the first Transmission Week.  The link to it is on the home
page in the publications area.  The archive can be accesed from the Weekly
Publications page.
 Energy Argus is now available and the link can be found either in hte TOP 5
Links artea on the home page or on the Links page.

 We have not received US Power - East or Weekly Power Plays as of yet.

Thanks
Mark


Robert,
 I have modified the attached as requested.

	Robert Rose@ENRON
	05/30/2001 03:48 PM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc: Taffy Milligan/HOU/ECT@ECT
		 Subject: MUD 23 Access & Maintenance Agreement

Dan,

Ann Elizabeth prepared an agreement last week whereby
Harris County MUD No. 23 would be allowed certain
access across HPL Bammel property to do work on
their drainage ditches.  After a review of the agreement
by Steve Schneider, he suggested that language be
added concerning a matting of the property over
the pipelines when "heavy machinery" is used.  Also,
he suggested that language as to property/road
restoration be added.

Taffy, can you email a copy of the agreement to Dan
so he can make these changes (I was only provided
hard copies)?

Please let me know if you have any questions!

Thank you very much,

r


Gerald,

Would it be possible to get a draft of the agreement for the sale of the 2.82 acres to Bridgeline in the next day or two?  This is something that we would like to finalize in the next week, if possible.

Let me know.

Rakhi
x3-7871


(1)  Market quotation v. Loss -- At one of the workshops at the ISDA
conference in March, I picked up some tips from the Goldman Sachs speaker
that I have found useful in arguing on behalf of Loss.  I think we should
also put before the group a uniform acceptable carve-out for MQ (in terms of
duration and commodity), with the understanding that we should only offer the
carve-out after every effort has been made for Loss applied uniformly.

(2)  Legal opinions from international counterparties -- I think we could use
clearer guidelines on when to require these.  My own thought is that we
should try to get comfortable with going without to the extent possible with
respect to Western European counterparties (absent any red flags particular
to a counterparty).  Paul Simons' input would be very useful here.

Robert E. Bruce
Senior Counsel
Enron Wholesale Services
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com


Since Sally is out of the office today, March 5 and will be out next Monday,
March 12, the OpRisk Forum Luncheon has been cancelled for both dates.
Please adjust your calendars accordingly.  The 10:00 AM staff meeting,
however, will be held as usual.

Thanks,
Patti x39106


Good morning, Michelle -

Ken Lay said that he would be happy to be the opening keynote speaker at the
kick off luncheon on Wednesday, April 25, 2001.

Sorry for the delay, but at least we are sure he wants to do it.

Rosalee

"Michelle Michot Foss" <mmfoss@uh.edu> on 10/25/2000 09:27:40 AM
Please respond to <mmfoss@uh.edu>
To: <Kenneth.Lay@enron.com>
cc: "\"Rob Bradley\" <Rob Bradley" <rbradle@enron.com>
Subject: Invitation for IAEE Keynote

Hi Rosalee-- I just wanted to thank you so much for your extra help on our
inquiry to Ken.  We understand completely that the April 25 slot following
his return from vacation is not the most ideal arrangement.  I think it's
always easiest for someone like him if he knows that a speech given recently
can easily serve as the basis for a new request.  I wanted to remind you of
my previous suggestion that his keynote presentation in Montreal last May to
the World Forum on Energy Regulation would accomplish most of that, and we
would work with Rob and others to minimize any effort required to add new
content.  Hopefully, this will help with the decision this week.  As I
mentioned the other day, Ken is really the most authoritative figure when it
comes to the idea that economic concepts can be used to build energy markets
and business enterprises that lead to better societies!  Talk soon, and
don't hesitate to ever ask for a "quid pro quo" from us.

Michelle Michot Foss, Ph.D.
Director, Energy Institute
Bauer College of Business
University of Houston
Houston, TX  77204-6283
Tel. 713-743-4634
Fax  713-743-4881
www.uh.edu/energyinstitute


alice van leunen
13631 NE Kinney Rd
Newberg, OR 97132
avanleunen@msn.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,

alice van leunen


We move alot of people around Enron.  In fact, on an annual basis, we make
about 8400 moves (out of a Houston employee base of 11000).  We have found at
Enron that putting people next to eachother makes things happen: increased
productivity and communication.  Given our tight office situation in Houston,
moving people around to make room for new and expanding businesses has caused
some disruption.  We try to keep it to a minimum and expect it to improve
later this year when we begin occupying the new building.

	Erin Rice
	02/13/2001 11:09 AM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: Question for All-Employee Meeting

Steve:

The following question has been submitted for the upcoming all-employee
meeting.  Could you provide an answer by noon this Friday?

Thanks.

- er

Has Enron looked at the financial expense as well as the emotional, morale
and business expenses associated with constantly moving people from one
location to another in the Enron building?  Maybe we could use these savings
and redirect them for our bonuses?


Enjoy!
 - 20011220ERCOT_LOAD.XLS
 - 20011220ERCOT_FLOW.XLS


Yes it was Laura.  Sorry for the inconvience.


DASOVICH, JEFFREY O,
?
The PEP system closes on Friday, May 25, 2001
?
Our records indicate that you have been requested to provide feedback on one
or more Enron employees.  The deadline for completing feedback is Friday,
May 25th.
?
Below is a list of feedback requests with a status of "OPEN".  Please
complete or decline these requests as soon as possible by logging into PEP at
http://pep.enron.com and selecting Complete Feedback from the Main Menu.
?
If you have any questions, please contact the PEP Help Desk at:
Houston:  713-853-4777, Option 4 or email: perfmgmt@enron.com
London:  44 207 783 4040, Option 4 or email: pep.enquiries@enron.com
?
Thank you for your participation in this important process.
?
Employee Name:
GUERRERO, JANEL
KINGERSKI, HARRY
MARA, SUSAN
MCCUBBIN, SANDRA
NEUSTAEDTER, ROBERT
SWAIN, STEPHEN


Dude:
If I don't see you, good luck this weekend, have fun, and congratulations.
Very cool deal.  And remember, be true.

Best,
Jeff


The Prague Registration Form is attached - it is a MS Word .doc. You will
need MS Word to open it.  If you have trouble call or email Kimberly Coats at
WPO - 703-684-4924 - email: kcoats@wpo.org --- She will fax or re-email you a
copy.

Since many of you plan on registering for Prague based on the cyber updates
we have sent, prior to receiving the registration package, here is a
thumbnail of Prague 2001.

During our multi Czech experience registration party  [Thursday 04 October
2001 in the lobby of the Marriott] we will provide escorted walking tours of
the city. We resume in the evening with at a Czech jazz club created at the
Marriott - hot music and dinner.

Friday AM -- our opening ceremony at the Estates Theatre - Mozart first
conducted Don Giovanni there --  Offsites in the PM and following a rest
period we adjourn to Prague's Symphony hall, the Rudolfinum, for a private
concert played by the Czech Philharmonic - dinner follows in the same
building. Following dinner, if its nice weather stroll across the nearby
Charles Bridge and home or coaches will be provided.  For late nighters the
jazz scene continues in the lobby bar of  the Marriott.

Saturday AM  --  classes in Prague's Municipal House - perhaps the best
example of Art Nouveau architecture in Central Europe.  The focus is on The
role of the Czech Republic in the Development of Central Europe -
past-present-future.  In the PM Offsites. For dinner and the evening we take
over U Fleku - one of Prague's most famous beer halls dating from the 1700s.
Late nighters will again find the jazz scene back at the Marriott.

Sunday - a repeat of Saturday; however, for dinner and the evening we all
experience a Taste of Prague and take over four of Prague's great
restaurants. We will have a chance to meet some of those living in Prague as
we will invite many local guests. Afterward, the jazz scene continues at the
Marriott.

Monday AM we travel 25 minutes by historic train to Nelahozeves, home of the
Lobkowicz collection and experience one of the most amazing stories of
restitution ever told. In the PM some time on your own in Prague and to get
ready for our final evening - it will be at Prague Castle and shhhhh!, the
rest is a surprise.

Pre  Academies:

The Habsburgs - Following a full Vienna program travel on the Historic Train
to southern Bohemia's [Czech Republic] historic town Cesky Krumlov and onto
Prague.

The War Years - Following a visit to Krakow and Auschwitz we go onto Berlin
to experience a city reborn and then to Prague via Dresden on the Historic
Train. Dr. Sol Gittleman is Scholar in Residence.

Post Academy:

The Czech Republic's Historic Spa Towns - Something for everyone in Central
Europe's famous Karlovy Vary [Carlsbad]  - golf, tennis, hiking, riding -
wonderful spas - home of Moser Crystal - fabulous hotel - great shopping - go
home rested! Dr. Herbert Benson of Harvard's Mind Body Institute is our
Scholar in Residence.

On behalf of the Committee we look forward to seeing you in Prague,

John W. Galston

 - PRAGUE~6.DOC


FYI.  We have this report?


Larry,
Hope you have been taking it easy.  I know I have been.  I am writing to ask if you would like to have pipe options valued with vol skew (the change that we put on hold in oct) for Netco.

Brad

 -----Original Message-----
From: 	Wong, Jeremy
Sent:	Monday, January 14, 2002 11:17 AM
To:	Jones, Brad
Cc:	Chen, Sandy (Ying)
Subject:	FW: vol skew

Brad:

In regard to the change in PortCalc to handle volatility skew for Larry's basis options, Larry requested to have the change put on hold.
Could you please check with him if he would like this change in production for NetCo?

Thanks,
Jeremy

 -----Original Message-----
From: 	Song, Jennifer
Sent:	Monday, November 12, 2001 2:08 PM
To:	Wong, Jeremy
Subject:	FW: vol skew

 -----Original Message-----
From: 	Jones, Brad
Sent:	Monday, November 12, 2001 2:02 PM
To:	Song, Jennifer
Subject:	RE: vol skew

Jennifer,
I have talked to Larry and he would like to wait a while before he puts the vol skew revision into production.  I will let you know when we are ready for it.

brad

 -----Original Message-----
From: 	Song, Jennifer
Sent:	Monday, November 12, 2001 11:51 AM
To:	Jones, Brad
Subject:	RE: vol skew

Brad,

The new post-id is 1397232. Thanks.
Jennifer
x35248

 -----Original Message-----
From: 	Jones, Brad
Sent:	Monday, November 12, 2001 11:43 AM
To:	Song, Jennifer
Subject:	RE: vol skew

Can you please copy post id # 1394485 and calc it with the volatility adjustments.

I will talk to larry today about these changes today.

brad

 -----Original Message-----
From: 	Song, Jennifer
Sent:	Monday, November 12, 2001 9:23 AM
To:	Jones, Brad
Subject:	RE: vol skew

Brad,

The database was rebounced during weekend. So you have to close your runm and reopen it. The post-id is in production.

Jennifer
x35248

 -----Original Message-----
From: 	Jones, Brad
Sent:	Monday, November 12, 2001 8:39 AM
To:	Song, Jennifer
Subject:	RE: vol skew

Jennifer,
I could not pull up anything on post-id 1391544.  I tried it in production port calc and test port calc.  Can you please take a look at it for me.

brad

 -----Original Message-----
From: 	Song, Jennifer
Sent:	Wednesday, November 07, 2001 10:42 AM
To:	Jones, Brad
Subject:	RE: vol skew

Please look at post-id 1391544.

Jennifer
x35248

 -----Original Message-----
From: 	Jones, Brad
Sent:	Wednesday, November 07, 2001 10:13 AM
To:	Song, Jennifer
Subject:	RE: vol skew

Please test deal #s
YC2929.1
YB6452.1
YB7841.5

 -----Original Message-----
From: 	Song, Jennifer
Sent:	Wednesday, November 07, 2001 10:10 AM
To:	Jones, Brad
Subject:	RE: vol skew

Yes , please.
Jennifer
x35248

 -----Original Message-----
From: 	Jones, Brad
Sent:	Wednesday, November 07, 2001 10:06 AM
To:	Song, Jennifer
Subject:	RE: vol skew

Also I would like to test a few individual deals.  Should I send you the deal # and let you run minibooks?

 -----Original Message-----
From: 	Song, Jennifer
Sent:	Wednesday, November 07, 2001 9:43 AM
To:	Jones, Brad
Subject:	RE: vol skew

Brad,

I used the new port_calc to run the full book, and the post-id is 1391379. Please take a look at it and let us know your feedback. If you need any further testing, please do not hesitate to call me. Thanks.

Jennifer
x35248

 -----Original Message-----
From: 	Jones, Brad
Sent:	Tuesday, November 06, 2001 12:56 PM
To:	Song, Jennifer
Subject:	RE: vol skew

Can we please test - 1386963

 -----Original Message-----
From: 	Song, Jennifer
Sent:	Tuesday, November 06, 2001 12:08 PM
To:	Jones, Brad
Subject:	RE: vol skew

Brad,

Jeremy has a new port_calc ready for test. This new version will apply vol skew on basis options correctly.
I calculated a mini-book on deal 'YG8699.1'. The post-id is 1387936. Please take a look at it.

If you have any other post-ids you want to test with this new version, please let me know, so I can run this new port_calc for you.

Thanks,
Jennifer
x35248
 -----Original Message-----
From: 	Jones, Brad
Sent:	Tuesday, November 06, 2001 11:45 AM
To:	Song, Jennifer
Subject:	RE: vol skew

Thank you very much, that is exactly what I wanted to know.
Yes if the IF vol curve exists, use IF-vol + NG skew, if IF vol curve does not exsist, use NG vol + NG skew

 -----Original Message-----
From: 	Song, Jennifer
Sent:	Tuesday, November 06, 2001 11:34 AM
To:	Jones, Brad
Subject:	vol skew

Brad,

I did two post-ids. I used the current production port_calc (3.15) to calculate 1389454 and I used the old version(3.14) to calculate 1389464. I do see a P& L change on 1389454.

I debugged it and found a bunch of deals with changes in P& L value. Enclosed is a partial list of those deals. The reasons are:

In old version(3.14), we calculate volatility of basis options like this

1) we calculate the NG volatility
2) If it's a basis option, we fetch the IF- volatility curve. If IF- volatility curve exists, we use IF-volatility curve.
3) If IF- volatility curve does not exist, we still use NG volatility.

In the current production version(3.15), we calculate volatility of basis options like this

1) we calculate the NG volatility + NG vol skew. (The NG vol skew is based on NG price - fixed price)
2) If it's a basis option, we fetch the IF-volatility curve. If IF-volatility curve exists, we use IF- volatility curve.
3) If IF-volatility curve does not exist, we still use NG volatility + NG vol skew which was calculated in step 1).

The bug in the currenct production portcalc is that in step 2), we didn't apply vol skew upon IF vol. In our new fix, this bug will be fixed.

However, the IF volatility curves of those enclosed deals do not exist. So the current production version (3.15) used the NG vol + NG vol skew for those deals. The old version (3.14) used the NG vol for those deals. Thus you see P&L change in these two versions.

Also we'd like to confirm with you that in the new fix, if the IF vol curve does not exist, you still want us to use NG vol + NG vol skew instead of erroring out. If the IF vol curve exists, we will use IF vol + NG vol skew.

Thanks,
Jennifer

Jinwen (Jennifer) Song
713-853-5248
jennifer.song@enron.com

 << File: basis.xls >>


Folks:

My apologies in advance if I vent somewhat.

Briefly, some of you know that I attended Berkeley's Policy School.  I have
been very closely involved with the conference Severin describes in his note
to Littlechild.  I have been working to try to establish a joint venture
between the policy and business schools at Berkeley to hold an "energy
summit," where national and international energy leaders would converge on
California (under the auspices of UC Berkeley) to talk energy policy.  Jim
Steffes has helped a lot in brainstorming the idea.  In short,, our goal was
to have a group of prominent folks squarely refute the extremely retrograde
notions of "turn the clock back" that the Governor of California's two most
recent appointees have been articulating at every opportunity over the past
several months, and re-seize the agenda in California. The "energy heads of
state" at the summit would come up with solutions for going forward.

The concept (and invitees) that Severin describes is loosely based on
proposals I have made to the "steering committee."  However, for reasons I
won't bore you with in this note, the effort has frankly turned into a
fiasco.  I notified the group this week that Enron would not be
participating, that they should go forward with the conference without us,
and that I would help somewhat (contacts, etc.) when (and if) they ever came
to agreement on the agenda and particpants.  From my perspective, the effort
turned out to be a rather big disappointment.  I urge us not to get involved
or contribute $$s.  At this juncture I would recommend against having Ken Lay
participate.  Depending on how the thing shapes up, we may  or may not want
to have someone at a substantially lower level participate, but I'm
pessimistic at this point.  If anyone would like to discuss my reasons in
more detail, I'd be happy to discuss.

I still think the idea of an energy summit is very promising.  But the forum
that these folks are creating ain't the right one.

Best,
Jeff

Mark Schroeder@ECT
09/08/2000 04:09 AM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/HOU/EES@EES, Susan J
Mara/SFO/EES@EES, Jeff Dasovich/SFO/EES@EES
cc: Kyran Hanks/LON/ECT@ECT
Subject: retail competition in electricity

Please see Professor Littlechild's note to our former Deputy Chairman for
Enron Europe, Ralph Hodge.  Ralph is no longer with us.  Let me know if you
would like to support ($$) Littlechild coming to California.  He was a
somewhat passive regulator (too academic), but is a credible authority,
having written what is regarded as one of the seminal works on incentive
regulation, which is the model in use in the UK.   He likes Enron, and has
been trying to get us to pay him for some work for some time.  No need for it
here in the UK, but I would use him in emerging markets given the
opportunity.  Let me have your thoughts at your earliest convenience.
thanks  mcs
---------------------- Forwarded by Mark Schroeder/LON/ECT on 08/09/2000
10:08 ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Stephen Littlechild" <littlechild@tanworth.mercianet.co.uk>
                08/09/2000 10:00

To: "Ralph Hodge" <ralph.hodge@enron.com>
cc: "Mark Schroeder" <mark.schroeder@enron.com>, "Kyran Hanks"
<Kyran.Hanks@enron.com>

Subject: retail competition in electricity

Dear Ralph
?
I have just written a?paper on retail  competition in electricity, arguing
that Joskow, Hogan and Ruff, and California,  have got it all wrong, both in
theory and in practice.? It is forthcoming  shortly in the DAE and Judge
Institute working paper  series at Cambridge, but I thought you might like to
see a copy now  (attached).
?
This is obviously a hot issue in California at  present, and this morning I
received an invitation to  participate?in a debate there in November  (copy
forwarded separately). It seems that Enron is also to be invited. I have  no
other commitments in the US at that time.? Is is something that Enron  might
be interested in supporting, or for that matter developing  further?
?
We spoke some time ago about the Common Carriage  Consultative Working Group
at Ofwat. I did in fact aprticipate in that, along  with Kyran Hanks. It was
a real eye-opener, to see how little awareness there  was of the basic
conditions conducive to competition, like separate businesses  and accounts.?
I'm not sure whether Enron is pursuing this now or not. No  doubt lots of
other things going on.
?
I should be interested to hear from you on retail  competition.? I am copying
this to Mark Schroeder and Kyran.
?
With regards
?
Stephen
 - Summary 22Aug2000.doc
 - Why we need electricity retailers 22Aug00.doc


John,

I prepared the presentation in the way we discussed on Wednesday.
In summary I have included the following scenarios:

Tenor:  1, 3, 5 years back from Nov, 2000
               1, 3, 5 years back from Nov, 1998
               1, 3, 5 years back from Nov. 1995

Number of trade per day:  200, 600,1000

Bid-offer spread:  $0.04 and $0.06

Net Open position allowed: 1,000,000 and 5,000,000

Volume per trade is fixed at 1,000 BBL.

All together, there are 9*12 =  108 scenarios included in the presentation.

I will be on vocation starting next week.  But I will check my e-mail and
phone
messages to make modifications you need.

Happy Holidays,

Zimin


Could one of you please extend deal # 151203 for meter 1595?  This deal
expired 12/31/99.

Thanks.

Aimee
---------------------- Forwarded by Aimee Lannou/HOU/ECT on 03/06/2000 02:45
PM ---------------------------

	Enron North America Corp.

	From:  Karen Lindley @ ENRON                           03/06/2000 09:58 AM

To: Aimee Lannou/HOU/ECT@ECT
cc:
Subject: Feedback Error - 1/00

Aimee,

There is a feedback error on swing meter 981595, deal number 151203 for
January 2000.  POPS and MOPS systems match, however in checking in Sitara,
the deal number attached expired 12/31/99.

I am not sure you are the correct person to address this with, if not, please
let me know.  If you can fix this problem, please do so and let me know.

Thanks and let me know if you need any addtional data as well.

Karen
X58381


You planned that didn't you.   You guys can't get enough of me.

	Enron Capital Management

	From:  David Baumbach                           12/07/2000 04:23 PM

To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: December 15th Move

Take a look where you are sitting in relation to the Texas Desk!!  Oh my!!

---------------------- Forwarded by David Baumbach/HOU/ECT on 12/07/2000
04:26 PM ---------------------------

	Enron North America Corp.

	From:  Irena D Hogan                           12/07/2000 04:18 PM

To: Kori Loibl/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Susan M
Scott/HOU/ECT@ECT, Laura Vargas/Corp/Enron@ENRON, Luchas
Johnson/NA/Enron@Enron, Amy Cavazos/NA/Enron@ENRON, Sherry
Dawson/NA/Enron@Enron, Bilal Bajwa/NA/Enron@Enron, Joey
Taylor/NA/Enron@ENRON, Kimat Singla/HOU/ECT@ECT, Crystal Hyde/HOU/ECT@ECT,
Jeff Royed/Corp/Enron@ENRON, Brenda H Fletcher/HOU/ECT@ECT, Elizabeth L
Hernandez/HOU/ECT@ECT, Jeanne Wukasch/Corp/Enron@ENRON, William
Kelly/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Kyle R
Lilly/HOU/ECT@ECT, Alejandra Chavez/NA/Enron@ENRON, Kimat Singla/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, Michael
Walters/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT, Jody Crook/Corp/Enron@ENRON,
Denver Plachy/NA/Enron@Enron, Patrick Ryder/NA/Enron@Enron, Cathy De La
Torre/HOU/ECT@ECT, Melba A Bowen/HOU/ECT@ECT, Cathy Sprowls/HOU/ECT@ECT, John
Valdes/HOU/ECT@ECT, Jennifer Lee/NA/Enron@Enron, Gregory A
Mausser/HOU/ECT@ECT, Delma Salazar/NA/Enron@Enron, James
Hungerford/NA/Enron@ENRON, Russ Severson/HOU/ECT@ECT, George
Grant/HOU/ECT@ECT, Rahmaan Mwongozi/Corp/Enron@ENRON, Greg Couch/HOU/ECT@ECT,
Alexander R Gonzales/NA/Enron@ENRON, Pamela Sonnier/HOU/ECT@ECT, Shona
Wilson/NA/Enron@Enron, David Maxwell/HOU/ECT@ECT, Susie Ayala/HOU/ECT@ECT,
Adarsh Vakharia/HOU/ECT@ECT, Burton McIntyre/HOU/ECT@ECT, Susan D
Trevino/HOU/ECT@ECT, Maria Teresa Aguilera-Peon/Corp/Enron@Enron, Jennifer
Nguyen/Corp/Enron@ENRON, Eugenio Perez/HOU/ECT@ECT, Daniel
Falcone/Corp/Enron@ENRON, Chris Abel/HOU/ECT@ECT, Kenneth
Thibodeaux/NA/Enron@ENRON, Melba A Bowen/HOU/ECT@ECT, Nancy
Hernandez/NA/Enron@ENRON, Theresa Toward/NA/Enron@Enron, Mary M
Smith/HOU/ECT@ECT, Lisa Hesse/HOU/ECT@ECT, Trisha Hughes/HOU/ECT@ECT, Jeffrey
C Gossett/HOU/ECT@ECT
cc: Elizabeth Soto/HOU/ECT@ECT, Pamela Sonnier/HOU/ECT@ECT
Subject: December 15th Move

On the evening of December 15th, we will be moving.  You will receive packing
directions for your desk the week of the move.  Boxes and moving labels will
be available on Wednesday, December 13.  Please see below for your new work
location.  If you have any questions, please contact your group Assistant.


Elizabeth,

 Per your request, I have prepared the following summary.

Western RTO Development:

RTO West.
Area to be included -- WA, OR, ID, MT, Western WY, UT, NV-North & South and
hopefully Canada (BC Hydro and possibly Alberta)
Filed with FERC "Stage 1" documents in October 2000 -- Governance, Bylaws,
Draft of Operating Agreement, etc.
Stage 2 development begun January 2001 with of complete proposal in July 2001
Earliest practical operation Fall 2002 (optimistic based on quick on approval
time)
Plan Quality -- Good overall
Attractive Features -- independent board, single control area and real time
voluntary energy market, all parties on same tariff, a tradeable transmission
right with "use or lose" anti-hoarding provisions.
Unattractive Features -- Majority of transmission rights allocated to
existing users for a ten year period ("use or lose" will mitigate for short
term rights but long term rights on existing system will be tough to get).
Desert STAR.
Area to be included -- AZ, NM, CO, Eastern WY
Governance established and Board has been organized.
Have not yet filed a complete plan
Earliest practical operation Winter 2002 or beyond, depending on when they
actually file their proposal
Plan quality --  Potentially promising
Attractive Features -- similar transmission right regime as RTO West
Unknown -- whether they will have a single control area, whether
Unattractive Features -- Majority of transmission rights allocated to
existing users, board selection committee was manipulated by publics (however
in practice the independent board selected seems to have been little affected
by the search firm nomination process)
CA-ISO.
Area included -- CA IOU's only
Fully operational but with CA/FERC jurisdictional struggle over Board
appointment and independence.
Modifications to meet Order 2000 have been filed which appear to move
transmission rights close to the proposals under discussion in RTO West and
Desert STAR

Cooperative Regional Organization Activity:

Seams.
A joint task force of parties involved in RTO West, Desert STAR and CA-ISO
began meeting in November 2000
Three major seams issues identified and work begun
Scheduling time lines -- aligning processes between three RTOs so that
business across seams boundaries is not hampered for administrative reasons.
Nature of transmission rights and effect on loop flow -- making the
congestion management systems work between the three RTOs.
Export fees -- goal is to eliminate pancaking of fixed cost charges between
RTOs, perhaps by annual transfer payments between RTOs or some other
reciprocity agreement.
RTG Consolidation.
WRTA. SWRTA and WSCC voted to merge in to a single organization, the WIO
(Western Interconnection Organization)
WIO will have three committee:   Planning, Operations, Market Interface.
The Northwest organization (NRTA) has decided to stay independent for now,
but if RTO West forms it may just disappear as a separate organization.

If you need more detail, please let me know.

Steve

	Elizabeth Linnell@ENRON
	01/26/2001 12:24 PM

		 To: Mary Schoen/NA/Enron@Enron, David Parquet/SF/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT, John Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Margaret Carson/Corp/Enron@ENRON, seabron.adamson@frontier-economics.com,
Susan J Mara/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, Sandra
McCubbin/SFO/EES@EES, Steve Walton/HOU/ECT@ECT, Alan Comnes/PDX/ECT@ECT,
mday@gmssr.com
		 cc: Steven J Kean/NA/Enron@Enron, James D Steffes/NA/Enron@Enron
		 Subject: Urgent - Steve Kean to testify at Senate hearing, need info

Steve Kean will be testifying at the Senate Energy Committee's hearing on
Wednesday regarding California.  Steve and Jim Steffes asked me to contact
you for the following information.  I've listed specific requests for several
people, but am copying many more of you for your input as well.  Anything you
can provide by sometime on Monday will be appreciated!

Dave Parquet - Siting of new power plants in California.  Any insight you can
provide regarding the rules, the current climate, what would fix the current
situation, etc.

Richard Sanders - Steve thinks he might be asked about whether the market was
manipulated.  Please provide information on whether this was the case and who
the participants likely were.  What's the current climate regarding
sanctions, etc.?

Mary Schoen - Any information you can provide relating to air emission issues
in California, and specific details for our recommendations regarding air
emissions.

Steve Walton - The status on RTO West, Desert Star, Cal ISO and general
information on RO development.

Sue Mara - Specific ordering language requiring the utilities to buy only
from the PX.  Was it required through legislation or the CPUC, and what
exactly does it mean.  Who was involved in formulating the language?
Information on block forward markets.

Alan Comnes - A copy of the CDWR response and anything they might have
available regarding long term proposals from the government.

Dan Allegretti - We have the e-mail Jim sent regarding the UI deal.  Please
provide more specifics on the deal, and information regarding portfolio
management approach.

Thanks for your help!


Thanks for the clarifications.

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

Jeff - Jupiter is in doubt as a fourth quarter deal due to Massey's inability
to focus on the deal.  They are still trying to solve their waste coal spill,
and are working on the reverse spinoff from Fluor.  I talked with Don
Blakenship today, and he says they are still trying to do the deal this
quarter - I obviously have my doubts, and moved it to Q1.

British Energy is being pushed to Q1 as well.  BE has declared their option
tons and are delaying deliveries under our existing contract through April.
They are hoping to miss the current bullish market by waiting to begin
serious negotiations until early next year.

	From:  Jeffrey A Shankman                           11/13/2000 07:08 PM

To: George McClellan/HOU/ECT@ECT
cc:
Subject:

George, I just saw the updated 4Q earnings outlook, and saw Jupiter, and
British energy off the sheet.  Is Jupiter off because of the Massey problems
you mentioned today.  What about British energy....

Jeff


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This is a reminder that all vendors we have on retainer are to be sent a Notice of Termination by November 30, 2001 for a December 31, 2001 final termination date.  Please forward me a copy of all termination letters for the vendor agreement files.

Also, the renewal of any company and personal memberships should not be renewed unless discussed with Rick.

Thanks and please don't hesitate to call if you have any questions.

Ginger Dernehl
Administrative Coordinator
Global Government Affairs
Phone# 713-853-7751
Fax# 713-646-8160

 -----Original Message-----
From: 	Dernehl, Ginger   On Behalf Of Shapiro, Richard
Sent:	Wednesday, November 21, 2001 8:58 AM
To:	Alamo, Joseph; Allegretti, Daniel; Allen, Joe; Alvarez, Ray; Ausenhus, Kara; Barnes, Lynnette; Bellas, Kirsten; Bestard, Jose; Binns, Darran; Bolton, Scott; Boston, Roy; Buerger, Rubena; Burns, Stephen; Canovas, Guillermo; Cantrell, Rebecca W.; Comnes, Alan; Connor, Joe; Cooney, Carolyn; Dasovich, Jeff; Decker, Larry; Dernehl, Ginger; Dressler, Jean; Floris, Vinio; Frank, Robert; Fromer, Howard; Fulton, Donna; Gottfredson, Bryan; Guerrero, Janel; Hamilton, Allison; Hardy Jr, John; Hartfield, Rita; Hawkins, Bernadette; Hemstock, Robert; Hetrick, Nancy; Hoatson, Tom; Hueter, Barbara A.; Hunter, Bevin; Huson, Maggy; Ibrahim, Amr; Kaufman, Paul; Kean, Steven J.; Keene, Patrick; Kingerski, Harry; Kishigami, Kikumi; Knight, Laurie; Landwehr, Susan M.; Lassere, Donald; Lawner, Leslie; Lawrence, Linda L.; Leibman, Lara; Leonardo, Samuel; Levy, Alberto; Lindberg, Susan; Linnell, Elizabeth; Long, Chris; Mara, Susan; Maurer, Luiz; McVicker, Maureen; Migden, Janine; Miller, Terri; Montovano, Steve; Moore, Bill; Nersesian, Carin; Neustaedter, Robert; Nicolay, Christi L.; Nord, Sue; Noske, Linda J.; Novosel, Sarah; O'connell, Earlene; Ogenyi, Gloria; Palmer, Germain; Perez, Carmen; Perez, Gus; Perrino, Dave; Petrochko, Mona L.; Pharms, Melinda; Reyna, Margo; Rishe, Frank; Rizzo, Helen; Roan, Michael; Robertson, Linda; Robinson, Marchris; Rodriquez, Andy; Ryall, Jean; Shapiro, Richard; Shelk, John; Shortridge, Pat; Staines, Dan; Steffes, James D.; Stephens, Sharonda; Stransky, Joan; Stroup, Kerry; Stubbings, Randy; Sullivan, Kathleen; Sullivan, Lora; Thome, Jennifer; Tiberi, Fino; Twiggs, Thane; Walton, Steve; Warner, Geriann; Yeung, Charles; Yoho, Lisa
Subject:	Government Affairs Retainer Agreements

Please send out Notices of Termination by November 30, 2001 for all retainer (fixed payments) agreements (lobbying, legal, consulting, etc...)  We need to end all payments as of December 31, 2001.  Thank you very much.

Ginger Dernehl
Administrative Coordinator
Global Government Affairs
Phone# 713-853-7751
Fax# 713-646-8160