Late this morning, the House Energy and Commerce Committee adoped the
committee print, as amended, of an energy package that addresses
conservation, clean coal, renewables, hydro, nuclear, and boutique fuels.
The vote was 50 to 5 to report the bill.  Other committees -- Ways and
Means, Science, and Resources -- also moved their energy bills this week.
Thus, the House is on track to consider a merged package before the start
of the August Recess on August 3rd.

As to electricity, during the several days of debate this week both
Chairmen Tauzin and Barton reaffirmed their intention to next move to
electricity issues.  Mr. Barton's staff advised me this morning that the
subcommittee he chairs will hold a hearing on Friday, July 20th on all
electricity issues other than transmission.  While Mr.  Barton has publicly
held out hope of marking up an electricity bill this month, sources on and
off the committee do not see this timetable as realistic.  On the Senate
side, the majority staff is working on an electricity "white paper" that
may be circulated for comment next week.

Below is a recap of action on amendments of interest to Enron:

1.   Last night, on a largely partisan vote (with Democrats Hall, Green and
John voting with the Republicans) the Committee rejected an amendment by
Rep. Jane Harman (D-CA) (that was to have been offered by Rep. Anna Eshoo
(D-CA)) that would have retroactively amended the FERC refund date and
essentially ordered refunds regardless of amounts owed to power sellers.

2.   First thing this morning the Committee, again on a largely partisan
basis (with Democrats Hall, Green, John and Towns), rejected a Waxman
amendment to impose cost-of-service rates on all power in the West (other
than generation added after 1/1/01).  (Originally, Mr. Waxman was going to
offer amendment to impose cost-of-service rates only on those who do not
supply all available power during an emergency, but he ended up offering
basically what he had pursued in subcommittee on the old "Californa Only"
bill.)

3.   The Committee adopted an amendment by Rep. Shadegg to amend the
Natural Gas Act to make it clear that a natural gas "transportation
facility" shall not be added to the National Register of Historic Places
until FERC has abandoned the facility.  Apparently there have been some
instances of "old" pipelines being considered as "historic places" under
federal law.  The House Resources Committee added a similar amendment to
its package yesterday.

4.   By voice vote, the Committee rejected a Waxman Amendment to require
the president to propose and implement a plan to bring U.S. greenhouse
gases down to 1990 levels.  There was strong opposition voiced by many
Republicans and Democrats to this amendment.

5.   By mixed vote of 24 to 29, the Committee defeated a Waxman Amendment
to set cost and performance goals for renewables, including wind power, and
authorize federal funds to assist with commercial project costs (up to 50
percent).
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