Subject: Energy Market Report - 01/29/02

Energy Market Report
Tuesday, January 29, 2002

*See attached pdf file.
__________________________________________________________
Note: See correction in California paragraph for the issue dated Monday,
January 28, 2002.
__________________________________________________________
Western Pre-Scheduled Firm Electricity Prices($/MWh)
January 29, 2002 for January 30, 2002

Peak(Heavy)
                   Low      Change     High     Change
NW/N. Rockies     18.90      0.10     19.50     -2.50
Mid-Columbia      18.90      0.10     19.50     -2.50
COB               21.00      0.00     22.00     -0.25
N. California     23.50      0.00     24.25     -0.75
Midway/Sylmar       NA        NA        NA        NA
S. California     23.00      0.00     25.00      0.00
Mead              24.50      1.75     26.50      0.75
Palo Verde        23.50      0.75     25.50     -0.25
Inland SW         23.50      4.00     26.50      0.75
4-Corners         23.00      0.00     25.25      0.75
Central Rockies   20.50     -1.50     23.00     -3.00
__________________________________________________________
Off-Peak(Light)
                   Low      Change     High     Change
NW/N. Rockies     17.00     -0.25     19.00      0.50
Mid-Columbia      17.00     -0.25     19.00      0.50
COB               17.75      0.75     18.75      0.75
N. California     18.25      1.50     19.75      0.25
Midway/Sylmar       NA        NA        NA        NA
S. California     17.75      0.75     20.50      1.50
Mead              17.00     -0.50     19.00     -0.50
Palo Verde        14.75      0.75     16.50      0.00
Inland SW         14.75      1.25     19.00      2.50
4-Corners         15.00      0.50     16.00     -0.50
Central Rockies   12.00      0.50     13.75      0.25
_________________________________________________________
New CEO to Resurrect Enron

Heavy load energy costs for Wednesday delivery turned in mixed results in
the Western U.S. on Tuesday, reflecting varying weather forecasts in
different regions.  "The average price in the Northwest was slightly lower
today because temperatures were forecast to rise tomorrow, while the average
price in the Southwest rose slightly on expected cooler temperatures," said
one weather watcher.  Off-peak prices, however, were immune to geographical
boundaries, rising at just about all of the Western hubs on the cold
weather.  "There were a lot of people looking to secure off-peak power today
in order to meet demand," said one trader of the stronger light load prices.
Nonetheless, some players were surprised by Tuesday's strength, noting that
the worst of the cold was likely over.  Accordingly, Weather Derivatives was
forecasting a general decline in heating demand throughout the West over the
course of the week, and the latest six-to-ten from the NWS was predicting
mostly normal temperatures for the WSCC from February 4 through 8.  In
Enron-related news, "Turnaround Expert" Stephen Cooper was named interim CEO
of bankrupt Enron Corp. on Tuesday.  Cooper told Enron employees that their
company was in much better shape than some of the hundreds of other
companies he and his partners have represented in bankruptcies and
reorganizations.  "They didn't start with nearly as strong a position as
this company.  They were able to emerge successfully from bankruptcy and I'm
confident that Enron will also," Cooper said in a company-wide voice mail on
Tuesday.  On Monday, about 400 former and current Enron employees filed suit
against several company officials and auditor Arthur Andersen in a federal
court in Houston, alleging that the defendants encouraged employees to buy
Enron stock without being notified about the company's precarious financial
condition.

Peak power prices in the Northwest fell by an average of nearly a buck on
Tuesday, likely due to forecasts indicating the worst of the region's most
recent cold snap had passed.  In addition, strong river flows made for
abundant hydroelectric generation.  Nonetheless, light load prices for
Wednesday delivery traded slightly higher than a day ago, on average.  "It's
still cold at night, and a lot of the hydro is being pushed through during
the peak hours to meet demand, so we're just not seeing as many offers for
the light load hours," said one Northwest utility trader.  Flow forecasts
for Chief Joseph were ratcheted slightly upward on Tuesday, coming in at 110
kcfs through Thursday, 105 kcfs Friday, 80 kcfs Saturday, 65 kcfs Sunday,
110 kcfs Monday, and 105 kcfs next Tuesday.  According to Weather
Derivatives, heating demand in the region was forecast to be 124 percent of
normal on Wednesday, steadily falling to 99 percent of normal by February 3.
Meanwhile, the latest six-to-ten was calling for temperatures to be normal
in Oregon and Washington, and above normal in Idaho and Montana, from
February 4 through 8.

Amid below-normal temperature forecasts, flat spot gas values at the Socal
border, and firmer overnight heating demand, peak power prices were mostly
steady and off-peak prices strengthened in the Golden State on Tuesday.
Heavy load goods at NP15 changed hands predominantly between 23.5 and
24.25$/MWh, but one confirmed trade was heard at 26.5$/MWh.  Light load
pieces saw action from 18.25 to 19.75$/MWh.  Correction:  in the Energy
Market Report for January 28 we incorrectly reported that CPUC
administrative law judge Robert Barnett advised the commission to restore
the direct access provision, which was revoked September 20, 2001, allowing
industrial and household consumers to again chose their ESP through July 1,
2002.  In fact, Barnett's ruling would retroactively cancel direct access
from July 1, 2001 onward, nullifying contracts signed between July 1, 2001
and September 20, 2001.  "This is not a restoration of choice.  This is a
post-birth abortion," emailed one reader.  Additionally, contracts penned
before July 1 but which didn't deliver power until after July 1 are also
cancelled under the new ruling.  "To boil all this down to the simplest
terms, the DWR and the utilities are afraid that too much load switched to
alternate suppliers during that time frame (July through September).  Since
they bought too much power through high-priced contracts they have fewer
kilowatt hours to spread their costs against," summed up one market analyst
on the reason behind the new ruling.  The ruling is on the agenda for the
CPUC's February 7 meeting, at which point it could be enacted.  In unit
news, Calpine's Sutter Plants (546 MW) was almost back to full capacity on
Tuesday, generating at 525 MW.  Helms PGP #1 (407 MW) also returned to the
grid.  Wednesday forecasts called for temperatures to climb slightly, with
highs expected in the upper-40s to low-50s at mid-state load centers and
overnight lows anticipated near freezing.  The latest six-to-ten predicted
normal temperatures from February 4 to 8.

The average price for a 25-megawatt block of spot electricity rose
marginally in the Southwest Tuesday amid continued cold weather.  Heating
demand in the region was expected to remain well above normal through
Friday, but then drop to below-normal levels over the coming weekend.  "It's
cold down here, especially at night, so we're having to buy to cover our
load," said one Phoenix-based trader shivering at the thought of overnight
lows in the 30s.  Peak power at Palo Verde saw action from 23.5 to
25.5$/MWh, with unconfirmed late-day trades heard as high as 26$/MWh.  There
was little in the way of unit news on Tuesday, except for word that
Arizona-based Coronado #1 (395 MW) was still having trouble making it back
online.  Weather forecasts called for gradual warming through the coming
weekend, while the latest six-to-ten was predicting a near-blanketing of
normal temperatures from February 4 through 8.

Patrick O'Neill and Jessie Norris
_________________________________________________________

Western Generating Unit Outages

Current                            Begins          Ends          Reason

CAISO units <250/6699 total          NA             NA
planned/unplanned*
Alamitos #3/320/gas               26-Jan-02         ?            planned
Alamitos #6/480/gas               20-Jan-02         ?            planned
Big Creek Project/1020/hydro      28-Jan-02         ?        @710MW, planned
Colstrip #3/700/coal              11-Jan-02         ?            repairs
Corondado #1/395/coal             25-Jan-02     29-Jan-02        tube leak
Encina #4/303/gas                 12-Jan-02         ?            unplanned
Etiwanda #4/320/gas               21-Jan-02         ?            planned
Four Corners #5                   09-Jan-02     14-Mar-02        maintenance
Grand Coulee #19/600/hydro        10-Dec-01       March          repairs
Haynes #6/341/gas                 07-Jan-02         ?            planned
Helms PGP #2/407/hydro            01-Oct-01         ?            planned
Hyatt/Thermalito/933/hydro        02-Oct-01         ?      @665 MW,
unplanned
Moss Landing #7/739/gas           29-Dec-01         ?            planned
Ormond Beach #1/725/gas           28-Dec-01         ?            planned
Ormond Beach #2/750/gas           05-Oct-01         ?      @350 MW,
unplanned
Pittsburg #6/317/gas              22-Nov-01         ?            planned
Scattergood #3/445/gas            22-Jan-02         ?            maintenance

Future
Navajo #2/750/coal                02-Feb-02     25-Feb-02        maintenance

For unit owners refer to pdf version.
*Indicates a change from previous EMR.
______________________________________________________________________

Eastern Markets Pre-Scheduled Firm Power Prices ($/MWh)

January 29, 2002 for January 30, 2002

Peak (Heavy) in $/MWh
                 Low     Change   High      Change
Into Cinergy    17.00     0.00    19.30      0.80
Western PJM     21.00     0.05    21.50     -0.60
Into Entergy    15.00    -0.50    17.15     -0.85
Into TVA        15.75    -0.50    16.75     -0.75
ERCOT           17.50     0.50    19.40      1.90
___________________________________________________________
With little change in market fundamentals to a day ago, peak power prices
posted mixed results across the Eastern Interconnect on Tuesday. Very warm
temperatures continued to smother demand across most of the East, while
cooler conditions were expected in ECAR and Texas, lending some support to
those regions.  According to traders, there were higher prices in the Summer
and Q4 term products on Tuesday.  NYMEX Henry Hub natural gas futures rose
on some short covering ahead of February's expiration.  The front month
crawled up 9.8 cents in its last gasp and closed at 2.006$/mmBtu, while
March gained 8.3 cents to end at 2.067$/mmBtu.

Weak demand pummeled the Mid-Atlantic again on Tuesday, sending day-ahead
electricity prices lower.  Western PJM goods for Wednesday delivery changed
hands between 21 and 21.5$/MWh, with the bulk of deals heard around
21.25$/MWh.  February settled about a dime lower to a day ago, at 23.4$/MWh.
LMPs softened on Tuesday, averaging 18.11$/MWh through 15:00 EST, after some
mid-morning, short-lived volatility.  Rumors circulated of an outage at
Keystone #2 (850 MW) on Tuesday, but confirmation was not available, and
little effect was seen on the market regardless, sources said.  Forecasts
for Wednesday called for about five degrees of cooling, with highs expected
in the 57 to 65-degree range and overnight lows in the upper-40s.  The
mercury was expected to settle five degrees lower on Thursday.  The most
current six-to-ten predicted above-normal temperatures from February 4 to 8.

Amid cooler forecasts for Wednesday, peak power prices strengthened in the
Midwest.  Into Cinergy pieces were bought and sold from 17 to 19.3$/MWh,
climbing almost a buck on the high end.  Temperatures were expected to drop
significantly on Wednesday, with highs forecast in the 39 to 49-degree range
across ECAR, with overnight lows about five degrees below there.  The latest
six-to-ten called for above-normal temperatures from February 4 to 8.

Peak power prices slipped in the Southeast on Tuesday, as warm weather kept
demand very soft.  "It's gas close-out day so everyone's keeping an eye
turned to NYMEX.  A rally there could push spot gas higher tomorrow and thus
the dailies as well," said one SERC player.  Into Entergy deals were done
between 15 and 17.15$/MWh, settling to the low end late.  The February
contract weakened slightly on Tuesday, trading between 18 and 18.1$/MWh.
Texas power firmed up for Wednesday delivery, with much colder temperatures
expected across the Lone Star State.  The most current six-to-ten called for
mostly normal temperatures, with above-normal conditions in the north, from
February 4 to 8.
___________________________________________________________

California ISO Congestion Index in $/MWh

                         Path                 Peak   Off-peak
for 30-Jan-02         NW1 to NP15             0.00     0.00
                      NW3 to SP15             0.00     0.00
                      AZ3 to SP15             0.00     0.00
                      LC1 to SP15             0.00     0.00
                      SP15 to NP15            0.00     0.00

OTC Forward Peak Electricity Contracts in $/MWh

                    Mid-C              PV              SP-15
                Bid      Ask      Bid      Ask      Bid      Ask
BOM              NA       NA       NA       NA       NA       NA
February       16.75    18.25    21.00    22.00    22.50    23.50
March          15.00    16.50    20.50    21.50    21.50    22.50
April            NA       NA       NA       NA       NA       NA
Q2 '02         15.50    17.00    24.00    25.00    23.75    24.75
Q3 '02         29.00    30.50    37.00    38.00      NA       NA
Q4 '02         27.00    28.50    26.50    27.50    28.50    29.50
Q1 '03         27.00    28.50      NA       NA       NA       NA
Cal '03        28.75    30.25    32.00    33.00    34.00    35.00

Represents the most recent bid/ask spread obtainable
by the Energy Market Report.

Alberta Power Pool Index (C$/MWh)

                    Peak(14)   Peak(16)   Off-Peak    Flat     Change
for  28-Jan-02       38.71      36.69      14.13      29.80     9.55

BPA's Offer for 01/31/02.

Hours        Amount          NW delivered        COB/NOB delivered
7-22         200MW           Market Price*          Market Price*

*Market price will be determined at time of request.

NYMEX Henry Hub Gas Futures in $/mmBtu

                 Close        Change
        Feb      2.006         0.098
        Mar      2.067         0.083

Natural Gas Spot Prices in $/mmBtu

                  Low          High
Sumas             1.96         2.01
So. Cal Border    2.04         2.09
San Juan          1.91         1.96
__________________________________________________________

Economic Insight, Inc. - 3004 SW First, Portland, Oregon 97201,
Telephone (503) 222-2425, Internet e-mail emr@econ.com -
Copyright, Economic Insight, Inc. 2002.


-----Original Message-----
From: 	Stalford, Robert
Sent:	Wednesday, October 17, 2001 11:04 AM
To:	Stepenovitch, Joe
Subject:

http://www.gotlaughs.com/funpages/bin2.cfm


DJ Texas Power Export Capacity Returns To Normal

HOUSTON (Dow Jones)--Southwestern Electric Power Co. confirmed Monday that a
breaker problem near the 600-megawatt eastern direct-current tie has been
repaired, allowing exports from Texas to return to normal.

The breaker problem, which began last month at the coal-fired Welsh plant
in
Cason, Texas, could have lasted all summer, the utility had warned the
Independent System Operator for the Electric Reliability Council of Texas.

The breaker problem had limited exports by 100 MW from Ercot into the
adjacent
Southwest Power Pool.

SWEPCO is a unit of American Electric Power (AEP).

The east DC tie connects the transmission network of TXU Electric and
SWEPCO.

The east DC tie is the larger of two devices in the state, which allow a
combined 800 MW of power to be imported or exported from Ercot to SPP.

Ercot's northern DC tie, which connects the West Texas Utilities Co.
system to
Public Service Co. of Oklahoma, is rated at 220 MW.
-By Eileen O'Grady, Dow Jones Newswires; 713-547-9213;
eileen.ogrady@dowjones.com <mailto:eileen.ogrady@dowjones.com>

(END) Dow Jones Newswires 07-05-01

2058GMT

(AP-DJ-05-07-01 2058GMT)
:TICKER: AEP
:SUBJECT: EUTL DI1 DI4 STMG OH TX
Copyright (c) 2001 Dow Jones and Company, Inc.
Received by NewsEDGE/LAN: 5/7/01 4:04 PM


As you are aware, Enron signed an agreement with Blockbuster Inc. last summer
to launch an entertainment on-demand service.  We announced today that we are
discontinuing our exclusive relationship with Blockbuster in order to expand
the offering by developing direct relationships with content providers and
distribution partners.

We have made tremendous progress toward our goal of becoming the leading
provider of entertainment on-demand over a digital platform.  We rolled out
the trial service in Seattle, Portland, Salt Lake City and New York in
December, and today subscribers are buying movies on-demand using the service
we created.

However, the exclusive relationship with Blockbuster has not yielded the
quantity and quality of movies needed to drive demand for this exciting, new
on-demand service.  Now that we have proven the concept, we want to take our
service to the next level by adding content and subscribers on an accelerated
basis.  We feel that this can be best achieved by pursuing entertainment
on-demand independently.

We intend to initiate discussions with various content providers for
delivering their content over the Enron platform.  We remain very positive
about the potential of this business for EBS and Enron and will keep you
apprised of our progress.


Please click on the attached link to launch your Holiday Party invitation.

 http://invitation.enron.com

Please direct any questions to Dorie Hitchcock via email.


Here's what Ron worked up.

 -----Original Message-----
From: 	Matthews, Ron
Sent:	Friday, February 08, 2002 3:49 PM
To:	Donoho, Lindy
Cc:	Asante, Ben; Alters, Dennis; Choquette, Gary
Subject:	TW History

This is very lengthy but the best I can do in a rush.  Didn't have time to research all of the times and miles of pipe but did the best I could.  If we need the details, let me know and I cna try to find them Monday.

Ron M.


---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
07/21/99 03:49 PM ---------------------------

David G Mally
07/12/99 12:30 PM
To: Bob Shults/HOU/ECT@ECT, Stephen H Douglas/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT, Mark - ECT Legal Taylor/HOU/ECT@ECT, Ted
Murphy/HOU/ECT@ECT, Grant Masson/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT,
Paul H Racicot/HOU/ECT@ECT, Andrew Thomas/HOU/ECT@ECT, Kevin
Sweeney/LON/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Jay Webb/HOU/ECT@ECT
cc: Louise Kitchen/LON/ECT@ECT, David Port/LON/ECT@ECT, Fernley
Dyson/LON/ECT@ECT
Subject: Online North America Expense Work Order

The work order number listed below has changed.  This number has been set up
in the project tracking database, and it is ready to accept charges.

 New W.O. #:  E234A1
 Company # 460

Please use your normal coding for account major, account sub, detail class.

Please add OEXP in the cost catalog description:  OEXP covers all expenses
except for payroll including meals, travel, and hotel (for your expense
reports).

This work order is being set up in the ATES payroll system.  It will be
available for this pay period.

I hope this change has not inconvenienced anyone.

Regards,

Dave

---------------------- Forwarded by David G Mally/HOU/ECT on 07/09/99 12:42
PM ---------------------------

	From:  David G Mally                           06/30/99 07:17 PM

To: Bob Shults/HOU/ECT@ECT, Stephen H Douglas/HOU/ECT@ECT, William S
Bradford/HOU/ECT@ECT, Mark - ECT Legal Taylor/HOU/ECT@ECT, Ted
Murphy/HOU/ECT@ECT, Grant Masson/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT,
Paul H Racicot/HOU/ECT@ECT, Andrew Thomas/HOU/ECT@ECT, Kevin
Sweeney/LON/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Jay Webb/HOU/ECT@ECT
cc: Louise Kitchen/LON/ECT@ECT, David Port/LON/ECT@ECT, Fernley
Dyson/LON/ECT@ECT
Subject: Online North America Expense Work Order

The following work order has been set-up to track expenses related to the
on-line project.  Travel expenses, other expenses, timesheets need to be
coded to the appropriate cost category within this work order.

  Company # 460
  W.O. # E14911

Regards,
Dave


Jay,

If a deal is killed it poses a problem for us in Unify if there are any paths associated with the deal; therefore, we request the deals be zeroed out.  Call me if this is a problem.  Also, we would appreciate further details on why these deals are being killed.

In addition, I have copied Rita and Mark from Volume Management for their input.

Regards,

Tammy
x35375

 -----Original Message-----
From: 	Pena, Matt
Sent:	Thursday, December 13, 2001 3:39 PM
To:	Krishnaswamy, Jayant; Pinion, Richard; Jaquet, Tammy
Cc:	Severson, Russ; Truong, Dat; Aybar, Luis; Ma, Felicia
Subject:	RE: Killing ENA to ENA deals in Sitara

Thanks Jay!

Tammy/Richard:
You may want to let the schedulers know, although they may already.

 -----Original Message-----
From: 	Krishnaswamy, Jayant
Sent:	Thursday, December 13, 2001 3:38 PM
To:	Pinion, Richard; Jaquet, Tammy
Cc:	Severson, Russ; Pena, Matt; Truong, Dat; Aybar, Luis; Ma, Felicia
Subject:	Killing ENA to ENA deals in Sitara

Richars/Tammy:

We will be killing about 2000 deals in Sitara tonight. Whenever a deal is touched in Sitara, it will bridge over to Unify. THese are Desk2Desk deals, and should have minimal impact on you.


As we breifly, ECS is developing a product for gas driven (as opposed to electric driven) horse power.  Essentially, the value proposition involves "wrapping" an existing gas horspower station with a Compression Service Agreement and allowing the Pipeline to pay for the shaft horspower in commodities other than (or solely in) cash.  ECS provides shaft horsepower (meaning that we bring gas, as opposed to elecricity) to the compressor.  Because Shippers would continue to pay for its fuel per the existing tariff, the Pipeline would utilize shipper fuel to pay for shaft horsepower.  This structure represents an avenue for the Pipeline to hedge the value of the molecules it collects from Shippers or simply to levelize their fuel burn.  Timing and basis differences could, presumably, be included to increase the value to the Pipeline and potentially passed through to the Shippers.

Attached is a deal example that I recently presented to Great Lakes Gas Transmission that solves a fuel levelization problem they have on their system....they overcollect in the Winter and undercollect in the Summer.  It may be of some use in reviewing to help ascertain answers to the following:

1)	Would a gas compression service deal be required to be filed by the FERC?  My sence is that the answer is no. This is simply an O&M service
	contract and lease agreement.
2)	If a Pipeline is on an annual gas tracker, what would be the tracker implication?  It should be flat, as technically, ECS has not changed the
	amount of fuel collected/utilized....we have only provided optionality as to hedgeing???

Please give me a call to discuss.

Thanks

Chris Meyer
x31666


Please find attached the file that Dawn sent to me.  Sorry for the delay.
Next month I'll be more prepared.

Thanks,

Errol McLaughlin, X5-8274


My RC is 0005 , #413  Jeff Hodge is my supervisor.

dp


come over at your convenience and I will explain all

 -----Original Message-----
From: 	Hall, Steve C. (Legal)
Sent:	Thursday, December 20, 2001 11:08 AM
To:	Semperger, Cara
Subject:	RE: January Bilat Trades

Maybe I'm missing something, but I cannot tell from this schedule who  we are delivering to.

 -----Original Message-----
From: 	Semperger, Cara
Sent:	Thursday, December 20, 2001 10:39 AM
To:	Belden, Tim; Crandall, Sean; Alonso, Tom; Fischer, Mark; Calger, Christopher F.; Yoder, Christian; Hall, Steve C. (Legal); Rosman, Stewart; Thomas, Jake
Subject:	January Bilat Trades

This is the most complete information, Bilat stuff only.  If you need any help interpreting the sheet, just pop on by

Cara

 << File: January_Everything_Master.xls >>


---------------------- Forwarded by Robert Quick/LON/ECT on 07/15/99 03:37 PM
---------------------------

Nina Edmonds
07/15/99 03:06 PM
To: Robert Quick/LON/ECT@ECT
cc:
Subject: Risk Memo - Coal Supply Master Agreement with Edison Mission

---------------------- Forwarded by Nina Edmonds/LON/ECT on 15/07/99 15:06
---------------------------

Nina Edmonds
15/07/99 11:49
To: Mark E Haedicke/HOU/ECT, Julia Murray/HOU/ECT
cc: Mark Frevert/LON/ECT, Danny McCarty/LON/ECT, John Sherriff/LON/ECT, Rick
Buy/HOU/ECT, Steve W Young/LON/ECT, Scott Sefton/LON/ECT, Michael R
Brown/LON/ECT, George McClellan/HOU/ECT, Stuart Staley/LON/ECT, Alan B
Aronowitz/HOU/ECT
bcc:
Subject: Risk Memo - Coal Supply Master Agreement with Edison Mission

This risk memo relates to the sale by Enron Capital & Trade Resources Ltd
("ECTRL") of coal to a subsidiary of Edison Mission, Edison First Power
Limited ("EFPL"). EFPL is in the process of acquiring from Powergen two power
plants (Fiddlers Ferry and Ferrybridge) which are coal fired.   The
anticipated financial closing of the acquisition is 19th July.

The sales to EFPL will be done under the basis of a master agreement ("the
Master") subject to English law and LCIA arbitration.  This is based on our
international coal sale and purchase master agreement, but has been the
subject of significant negotiations between EFPL and Enron.   There is no
obligation on either party to complete any actual transactions, but it is
anticipated that all of EFPL's short-term coal requirements will be met by
ECTRL under the Master.

The arrangement reflected in the Master and the confirmations give rise to
the following legal risks:

(1) General

EFPL appears to be in the process of acquiring the power stations without
thinking through the commercial and logistical constraints on the supply of
coal  to the plants.  In effect EFPL is seeking to hedge with Enron their
fuel supply, by requiring Enron to deliver coal to the power plants.  EFPL's
situation has been made worse by virtue of the fact that they have negotiated
a very unfavourable agreement with Powergen, which owns a terminal for bulk
delivery of coal into the port of Liverpool ("LBT").  Fortunately there are
separate confirmations for LBT deliveries, and the commercial people are
aware that any LBT deliveries are fraught with legal, logistical and
commercial risks.

(2) Compliance with all Laws

EFPL has tried to insist that ECTRL represents that it shall comply with all
applicable laws, regulations, orders etc in any relevant jurisdictions.
Bearing in mind that we could be sourcing coal from a number of different
jurisdictions, such as Indonesia, Australia, South Africa, Poland etc., this
would clearly be a significantly onerous provision, especially as should we
be in breach of this representation could trigger an event of default under
the Master.  The position at the moment is that we have proposed that this be
diluted by our agreeing to use reasonable endeavours to comply, and our fall
back position is that we would agree to use best endeavours subject to a
proviso that we not be required to commit undue expenditure to so comply (the
basic difference between reasonable and best endeavours under English law is
a question of how much cash is spent).

(3) Sampling

The question of sampling and quality control is crucial in respect of EFPL's
rejection rights under the Master. EFPL to date has insisted that
sampling/quality control be determined effectively at the power plants.
ECTRL has countered with sampling/quality control being determined at the
port of loading (so that we are back to back with our purchase agreement and,
if EFPL rejects, ECTRL can in turn reject and put the coal back onto the
supplier).  If ECTRL agrees to EFPL's proposal, then ECTRL will be taking
significant basis risk in that coal could be rejected at a point inland in
the UK, which would leave ECTRL with possibly limited rights of recourse
against its supplier and with significant quantities of coal which may have a
low resale value at the delivery point in the UK.

(4) Force Majeure

In relation to LBT deliveries only, specific so-called force majeure
provisions would apply (overriding the f.m. provisions in the Master) which
would in effect mean that ECTRL would have little if no force majeure
protection at all.  This goes back to the point that LBT deliveries carry
significant risks.

(5) Energy Levy

Negotiations are still continuing with regard to who should bear the risk of
the climate change levy which is due to be imposed on coal in the near future.

The commercial leader of the transaction, Stuart Staley, has been full
apprised of the above legal risks.

If you have any queries or comments, please do not hesitate to contact me in
London on extension 7265.

Best regards.

Robert Quick


Donna:

A termination notice of the foregoing agreement was sent to your attention.  Do you know what this agreement is?  Could it be related to Enron Credit Limited (which had a position in Anker paper)?

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490


I also noticed on Inland Paperboard and Packaging, Inc./ENA, CP #66189, we are still waiting for the executed agreement since July 10th.  Is it normal for a company to take this long to return the executed agreement?  We have set up a global contract number (96063822) to allow them to do on-line trading.

Georgi Landau
Enron Net Works
(Ph) 713/345-4435
(Fx)  713/646-2495

-----Original Message-----
From: Landau, Georgi
Sent: Monday, October 29, 2001 10:32 AM
To: Bailey, Susan; Boyd, Samantha; Heard, Marie; Jones, Tana; Panus, Stephanie
Cc: Richardson, Stacey
Subject: OUTSTANDING COUNTERPARTIES

In reviewing my outstanding file folder, the following counterparties are still unfinished, yet in the Financial Lotus Notes Database their documents have been executed.  Please let me know when we can expect to receive the executed documents for final processing.

?        Enron Metall Recycling  GmbH & Co. KG/RMT, CP #92854
?        Enron Metals & Commodity Limited/RMT, CP #80550
?        Grupo Minsa, S.A. de C.V./ENA, CP #100027
?        Quark power LLC/ENA, CP #103757
?        Smith Barney AAA Energy Fund L.P./ENA, CP #77297
?        XL Trading Partners Ltd/ENA, CP #89395

Thanks,
-georgi

Georgi Landau
Enron Net Works
(Ph) 713/345-4435
(Fx)  713/646-2495


I think it is a mistake but if we need to hit a number it is doable - If amy can provide the support by always having a line of communication open and visiting portland every few weeks

Chris
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Oxley, David <David.Oxley@ENRON.com>
To: Kitchen, Louise <Louise.Kitchen@ENRON.com>; Lavorato, John <John.Lavorato@ENRON.com>
CC: Belden, Tim <Tim.Belden@ENRON.com>; Calger, Christopher F. <Christopher.F.Calger@ENRON.com>
Sent: Sun Jan 13 11:16:04 2002
Subject: NETCo HR team

Louise,

On reflection, when I sent you my HR team list yesterday, I made decision in order to get within 9, I would cover Portland and Calgary HR from Houston. Before we proceed on the basis of that team I need Chris and Tim to agree they are ok with this. Milnthorp says he's happy, so long as estate or our new parent provides payroll and benefits services (which I believe they will).

I would be happy to keep Julie Kearney on my list but I really don't know if I can drop one of the others which would obviously push my team to 10 overall (this is down from 14 or 15, depending on which list you look at)..

David


I don't remember if I told you that Fletch and I will be playing golf on
Saturday morning.

Thank You
Hunter


Bob Badeer
deal 475411
Amerex shows location as NP-15 we show SP-15


Thank you very much, Jeff.  I will have all the money in November for you.  Can you leave the check at the security desk downstairs at the Enron Bldg?

Donnis

-----Original Message-----
From: Shankman, Jeffrey A.
Sent: Mon 8/13/2001 10:11 AM
To: Traylor, Donnis
Cc:
Subject: RE: Hello

Donnis, I will loan you the other $5000.  Will you also pay back the other $6500 I've already loaned you by the first of November?  This will be the last loan I will make to you.  Again, I'm glad to help, but I'm doing this for Jennifer as well.  How would you like it delivered to you?

Jeff

-----Original Message-----
From: Traylor, Donnis
Sent: Monday, August 13, 2001 9:56 AM
To: Shankman, Jeffrey A.
Subject: Hello
Sensitivity: Private

Jeff,

If you could loan me the $5000, I can have that paid back to you by the first of November.  I have someone who wants the 5 acres but will not close on his house until the end of October.  I hope you will consider.  This would be the first time for me to ever own a home.  I don't have any other way of making this happen.

I want let you down.  This is a once in a lifetime deal for me.  I have so much to gain by this.  If I ever had to sell the house, it is worth $145,000.

Thanks,

Donnis


---------------------- Forwarded by Sara Shackleton/HOU/ECT on 07/20/99 09:14
AM ---------------------------

Sara Shackleton
07/16/99 09:36 AM
To: Jeff Harbert/HOU/ECT@ECT
cc:
Subject: Merita

Please review and let's talk.  Thanks.  SS


Dear Ben:

I am very disappointed to learn that you will be unable to join our energy
finance program next fall.  However, I'm pleased that you are willing to
keep trying.

I suggest that if possible, you take an MBA level finance class at U of
Houston this summer.  If you can get an A in the class, I will personally
argue your case to the admissions Dean.  I was also told that your chances
of getting in would improve considerably if you raise your GMAT over 500.

Its clearly a long shot, but we should still try to get you into the
program next fall.

Let me know how things are going.

regards,

Sheridan

At 06:04 PM 3/21/00 -0600, you wrote:
>
>Professor Titman:
>     I would like to thank you for taking the time to recommend me to the
>MBA Program.  In the end, the results were not favorable.  I understand
>that it is a competitive process, but I felt that with my work experiences,
>recommendations, extrcurricular activities, etc., that this would help my
>chances and possibly compensate my disability.  After talking with you and
>Professors Ronn, Brown and Jemison, I was sure that UT was the right place
>to continue learning about energy-finance.
>     I am still sure that UT is the place for getting an excellent
>graduate-level education, so I want you to know that I am going to do what
>ever it takes to get in next year.  I plan on taking a couple of graduate
>level finance courses at the University of Houston this Summer and Fall to
>demonstrate to the Admissions office that I can compete at this level. I
>also plan on trying to retake the GMAT test.  Due to my disability, this
>will be a monumental task, but I am determined to prove to the Admissions
>committment that I can do the work at The Texas University Graduate School
>of Business.
>     Also, I would like to continue our dialague regarding creating an
>Energy-Finance Private Equity Fund at UT.  I know that with my
>industry-wide and investment banking contacts that I can help raise capital
>for the fund.  I am very interested in energy-finance and think that your
>idea is a very good.
>     Thanks again for taking the time to listen and talk with me.  It has
>been a pleasure to meet with you and I hope we can continue to talk about
>energy and finance in the future.  Also, if you think of anything else I
>can do to strengthen my overall application file for next year, please let
>me know.  Take care and hope to hear from you soon.
>
>Sincerely,
>
>Ben Rogers
>
>
>
>
>
>
>
>
>
Sheridan Titman
Department of Finance
College of Business Administration
University of Texas
Austin, Texas 78712-1179

512-232-2787 (phone)
512-471-5073 (fax)

titman@mail.utexas.edu


I'd like to attend the class on April 27th & 28th


Anything I can do to help?

GISB1@aol.com on 05/10/2001 01:04:40 PM
To: Gisb@aol.com, GISB4@aol.com
cc:

Subject: More on the EEI/UBP Conversations

Dear Board Task Force,
Bill Boswell also noted the following conversation that occurred today:

"Rae -- and just to fill in the blanks, Betsy Moler called this morning to say
that Mike McGrath had called her seeking support for his position.  She told
him his position was wrong and that the EEI board members wanted to work on
the strawman first and to have something to look at in June on that - not
the retail quadrant - although the two efforts could proceed at the same
time.  Owens and I agreed to talk on Monday following the NERC meeting to
set up an EEI/GISB board level meeting ASAP.  Mike will not be a part of
that effort; Dave Owens will. -- Bill"

Thanks, Rae

cc:  Stan Horton


Your welcome!

 -----Original Message-----
From: 	Lokay, Michelle
Sent:	Wednesday, January 23, 2002 10:50 AM
To:	Wehring, Linda
Subject:	FW: Rodeo Tickets

I just got the Clay Walker tickets....thanks again.

 -----Original Message-----
From: 	Lokay, Michelle
Sent:	Wednesday, January 09, 2002 11:35 AM
To:	Wehring, Linda
Subject:	RE: Rodeo Tickets

Of course I'm interested, (thanks for asking)!  My first choice would be George, followed by Clay, then the Chicks.  What are the chances?!!

 -----Original Message-----
From: 	Wehring, Linda
Sent:	Wednesday, January 09, 2002 11:26 AM
To:	Burleson, Bob; Bolks, Sean; Cabrera, Reyna; Herber, Stephen; Jones, Dana; McCarran, Penny; Mercaldo, Vernon; Neville, Sue; Powell, Don; Ramirez, Pilar; Riehm, Richard; Roobaert, Preston; Stage, Michael G.; Threet, Kay; Torres, India; Weller, Steve; Donoho, Lindy; Harris, Steven; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; Robertson, Audrey; Watson, Kimberly; McConnell, Mark; Y'barbo, Paul
Subject:	Rodeo Tickets

Below is the scheduled of the performers for the Houston Livestock Show and Rodeo.  We have a limit of 4 tickets per person, let me know who you would like to see and indicate by First Choice, Second Choice and Third Choice.  These seat are located on the field level.  I must receive all request by email and no later than January 18th and will try to accommodate all request.

Tuesday, Feb. 12    	Dixie Chicks, sponsored by Ford
Wednesday, Feb. 13  	Neil Diamond
Thursday, Feb. 14   	Alan Jackson
Friday, Feb. 15	    	Clay Walker
Saturday, Feb. 16   	Pat Green
Sunday, Feb. 17	    	Kumbia Kings and Juanes
Monday, Feb. 18	Lyle Lovett and Martina McBride
Tuesday, Feb. 19    	Brooks & Dunn
Wednesday, Feb. 20  	Bob Dylan
Thursday, Feb. 21   	Phil Vassar and Jamie O'Neal
Friday, Feb. 22	    	Brian McKnight and Mary J. Blige
Saturday, Feb. 23   	Emmylou Harris, Alison Krauss, Patty Loveless and Nickel Creek
Sunday, Feb. 24     	Los Tigres del Norte and Ramon Ayala y Sus Bravos Del Norte
Monday, Feb. 25	REO Speedwagon and Styx
Tuesday, Feb. 26    	Willie Nelson and Lee Ann Womack
Wednesday, Feb. 27  	Kenny Chesney
Thursday, Feb. 28   	Clint Black with Lisa Hartman Black
Friday, March 1	    	Destiny's Child
Saturday, March 2   	"Legends of RODEOHOUSTON in Concert" with Mac Davis, Larry Gatlin and the Gatlin Brothers, Naomi Judd, and Charley Pride
Sunday, March 3	George Strait

All weekday performances begin at 7 p.m., and Saturday and Sunday performances begin at 3:45 p.m. Each performance showcases the entertainer at the end of the rodeo. The Sunday, March 3, performance is a concert-only will begin at 7 p.m.

Thank you,
Linda Wehring
Enron Transportation Services
Email: linda.wehring@enron.com
Telephone (713) 853-6040
Fax No.: (713) 646-4709


This is 80% true.

You know you are at a SERIOUS MEXICAN BIRTHDAY  PARTY IF:
?
1.??? Some of the guests didn't  bring a gift, but brought extra uninvited
kids.
2.??? When the cake says "Happy  Birthday Mijo" instead of the child's real
name.
3.??? The party is at Chuck E.  Cheese, but they brought their own food,
cake, and a pinata.
4.??? It's a party, but there are  more grown-ups than children.
5.??? It's "Mijo's" 1st Birthday and  the party food is carne asada, arroz
con frijoles puercos, y 10 cases of  beer.
6.??? For entertainment, instead of  playing pin the tail on the donkey,
there is usually a televised baseball,  football game, or a live fight.
7.??? They don't sing Happy  Birthday, instead everyone is salsa dancing.
8.??? The party was over at 5:00,  it's 10:00 and the party is just starting.
9.??? You find out from Abuela that  Abuelo is taking viagra.
10.??? The host calls someone who's  on their way and tells them to stop and
get some tortillas and ice.
11.??? The guests start arriving and  the hostess disappears to get ready.
12.??? You hear someone go up to the  birthday child and say "Mira, tan cute!"
13.??? Someone else says? "I'm  going to have to get you something next week
when I get paid.
14.??? The party is Saturday, and  you get a call from the hostess Friday
night saying, "I'm giving Mijo a birthday  party tomorrow at 3:00."
15.??? Some guests bring gifts that  are still in the store bag unwrapped.
16.??? There always seems to be more  family than friends at the party.
17.??? You have the party over at  your's brother's because he bought a new
house and he has a pool.
18.??? The cake didn't come from the  store; it came from the mother of the
comadre of your friend's sister who makes  really good cakes.
19.??? You are told you have to save  your plate and fork you ate your food
with, so you can eat you  cake.
20.??? Someone calls and says they  can't make it, but asks that you save
them some cake.
21.??? Guests are wrapping up cake  to take to Madre, Tio, Abuela, Chata y el
Junior.
22.??? The party music is coming  from a small boom box.
23.??? The birthday child is dressed  from head to toe in Tommy.
24.??? The birthday baby's Daddy  comes to the party and brings the kid he
had before and after the Birthday  Baby.
25.??? It's "Mijo's" party, but  since his cousin Madonna is there and her
birthday is in a few days, it becomes  Mijo's and Madonna's party.
?
Power to la Raza
?
I thought this was?something to share with all  you REAL Mexicans and those
who are still trying to get to know  us..........

?


----- Forwarded by Jeff Dasovich/NA/Enron on 05/15/2001 05:23 PM -----

	Kelli Clifton <kelli@ppallc.com>
	05/15/2001 03:01 PM

		 To: "'jeff.dasovich@enron.com'" <jeff.dasovich@enron.com>
		 cc:
		 Subject: Plan B

Per a request from Theo Pahos (on behalf of Mirant), can you please fax
him a copy of Plan B at (916) 441-3549.

Kelli Clifton
Public Policy Advocates
(916) 441-0702


Joe,

Here's a possibility.  Let me know what you think.

Dear Clayton,

Thanks for your note about our new television ad.  Our goal with the ad
campaign is to increase Enron's familiarity and favorability with business
and government opinion leaders.  We want to do that by communicating the
innovative culture at Enron that always asks the question, "Why?"  When we
heard businesses blaming poor financial performance on their inability to
manage weather risks, we asked, "Why?"  We answered that with our weather
derivatives product that helps companies protect revenues from unfavorable
weather.  Now, many equity analysts and other investors are challenging
companies that don't use weather derivatives as a risk management tool.

In order to get our message across in a cluttered advertising environment, we
need to create compelling images to get that message accross.  The use of a
traditional symbol (the old cork gun shooting gallery) applied in a
non-traditional way (shooting down conventional wisdom) gets the point across
very directly that traditional excuses don't "stand up" to today's markets.
I think it's a powerful, and humorous, symbolic message.

I'm sorry if you're taking the reference to an old-fashioned game literally.
I can assure you that no ducks or CEOs were harmed in the making of the
commercial.

Sincerely,

Joe Sutton

(Obviously, you can delete the smart-alecky last sentence.)


In a message dated 1/29/02 1:45:14 PM Central Standard Time, Vince.J.Kaminski@ENRON.com writes:
Explaining Storage Economics

 - StorageEconomics.doc
Return-Path: <Vince.J.Kaminski@enron.com>
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Content-Type: multipart/mixed; boundary="----_=_NextPart_001_01C1A8FC.FD0A7AA9"
Subject: FW: NESA's "Explaining Storage Economics" Brown Bag
Date: Tue, 29 Jan 2002 13:41:47 -0600
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Thread-Topic: NESA's "Explaining Storage Economics" Brown Bag
Thread-Index: AcGo+nqljsx9CxTsEdaxLQBQi+MJ2QAAoC2A
From: "Kaminski, Vince J" <Vince.J.Kaminski@ENRON.com>
To: <vkaminski@aol.com>
X-OriginalArrivalTime: 29 Jan 2002 19:41:47.0980 (UTC) FILETIME=[FD6898C0:01C1A8FC]
X-Mailer: Unknown (No Version)

>  -----Original Message-----
> From:     Lana Moore <Lana.Moore@nesanet.org>@ENRON
> Sent: Tuesday, January 29, 2002 1:26 PM
> Cc:   Staff
> Subject:  NESA's "Explaining Storage Economics" Brown Bag
>
> January 29, 2002
>
> NESA MEMBERS:
>
> Attached is our latest and greatest brown bag being held February 20, 2002.
> Everyone that registers for this event by February 8, 2002, will be
> automatically put into a drawing for Houston Livestock Show and Rodeo
> tickets.  YEE-HAW!
>
> Hope to see you there!
>
> Lana Moore
> Director of Education
> NESA
> (713) 856-6525
>
>  <<Storage Economics.doc>>
>
>
>
>  - Storage Economics.doc> >  <<Storage Economics.doc>>

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

 - Storage Economics.doc


LOL!  That's some serious incentive to brave the weather.  I'm up for the
challenge.

Scott, if you have a hard time finding alternate camp sites, I suggest we
camp in the field next to The Show Palace.  <g>

----- Original Message -----
From: "Ebner, Daniel" <DEbner@JPI.com>
To: "'Scott Palmer'" <Scott.Palmer@exodus.net>; <Clint.Dean@enron.com>
Cc: "'Luis Gasparini'" <lgasparini@simpletel.com>
Sent: Wednesday, December 13, 2000 11:38 AM
Subject: RE: This weekend

> Lemme put it another way.  If we don't go camping, I will be painting a
> bedroom and re-staining kitchen cabinets.  The icing on the cake will be
the
> dippy girl's parents' Christmas party on Sunday.
>
> Cold and rain creates relatively little fear for me.
>
> > -----Original Message-----
> > From: Scott Palmer [SMTP:Scott.Palmer@exodus.net]
> > Sent: Wednesday, December 13, 2000 11:40 AM
> > To: 'Ebner, Daniel'; 'Richard Donoghue'; 'Clint.Dean@enron.com'
> > Cc: 'Luis Gasparini'
> > Subject: RE: This weekend
> >
> >
> > On the camping note, I am researching alternative sites just in case the
> > weather is insane this weekend.  Depending on which weather forecast you
> > believe, it will be cloudy with a chance of rain, with lows in the 40s
and
> > highs in the 50s.
> >
> > I also have to check for trail closures.  Even if it's not raining, some
> > trails will close down if they are muddy & wet because of erosion.
> >
> > No matter what, we're on for camping, though!!  Even if I have to ride
my
> > bike in circles around the tent.
> >
> > -----Original Message-----
> > From: Ebner, Daniel [mailto:DEbner@JPI.com]
> > Sent: Wednesday, December 13, 2000 11:17 AM
> > To: 'Richard Donoghue'; 'Clint.Dean@enron.com'
> > Cc: Scott Palmer; 'Luis Gasparini'
> > Subject: RE: This weekend
> >
> >
> > Won't be the same without you.  After all, it was Richard that came up
> > with
> > "Sometimes you kick wood...sometimes the wood kicks you."
> >
> > > -----Original Message-----
> > > From: Richard Donoghue [SMTP:Rdonoghue@mphlegal.com]
> > > Sent: Wednesday, December 13, 2000 10:41 AM
> > > To: 'Clint.Dean@enron.com'; Richard Donoghue
> > > Cc: 'Scott Palmer'; 'Ebner, Daniel'; 'Luis Gasparini'
> > > Subject: RE: This weekend
> > >
> > > More like types, but I can read my message aloud to my computer if you
> > > would
> > > like.
> > >
> > > -----Original Message-----
> > > From: Clint.Dean@enron.com [mailto:Clint.Dean@enron.com]
> > > Sent: Wednesday, December 13, 2000 10:40 AM
> > > To: Richard Donoghue
> > > Cc: 'Scott Palmer'; 'Ebner, Daniel'; 'Luis Gasparini'
> > > Subject: RE: This weekend
> > >
> > >
> > >
> > > The "silent one" speaks.
> > >
> > >
> > >
> > >
> > > Richard Donoghue <Rdonoghue@mphlegal.com> on 12/13/2000 10:37:08 AM
> > >
> > > To:   "'Scott Palmer'" <Scott.Palmer@exodus.net>, "'Ebner, Daniel'"
> > >       <DEbner@JPI.com>, "'Luis Gasparini'" <lgasparini@simpletel.com>,
> > >       "'Clint.Dean@enron.com'" <Clint.Dean@enron.com>, Richard
Donoghue
> > >       <Rdonoghue@mphlegal.com>
> > > cc:
> > >
> > > Subject:  RE: This weekend
> > >
> > >
> > > Guys, unfortunately, I think I'm going to have to bow out of our
camping
> > > trip this weekend. I have been rather ill over the last week and a
half,
> > > and
> > > I'm not sure that I'm up for the elements and all of the alcohol that
> > are
> > > involved in this weekend's festivities. I have been hoping to get
> > better,
> > > but between work and my cold, I don't think I'm up for it. Have fun
and
> > > please try not to make too much fun of the "silent one" while you are
in
> > a
> > > wood kicking frenzy.
> > >
> > >
> > > -----Original Message-----
> > > From: Scott Palmer [mailto:Scott.Palmer@exodus.net]
> > > Sent: Tuesday, December 12, 2000 10:41 AM
> > > To: 'Ebner, Daniel'; 'Luis Gasparini'; 'Clint.Dean@enron.com';
> > > 'Rdonoghue@mphlegal.com'
> > > Subject: RE: This weekend
> > >
> > >
> > >
> > > I also have a small tent that can be borrowed if "the silent one"
> > emerges
> > > from the depths of the legal system to join us on our quest for
physical
> > > pain, inebriation, and large, uncontrollable fires.
> > >
> > > -----Original Message-----
> > > From: Ebner, Daniel [mailto:DEbner@JPI.com]
> > > Sent: Tuesday, December 12, 2000 10:35 AM
> > > To: Scott Palmer; 'Luis Gasparini'; 'Clint.Dean@enron.com';
> > > 'Rdonoghue@mphlegal.com'
> > > Subject: RE: This weekend
> > >
> > >
> > > Clint has spoken for the tent.
> > >
> > > > -----Original Message-----
> > > > From:   Ebner, Daniel
> > > > Sent:   Tuesday, December 12, 2000 10:28 AM
> > > > To:     'Scott Palmer'; 'Luis Gasparini'; Clint.Dean@enron.com;
> > > > Rdonoghue@mphlegal.com
> > > > Subject:     RE: This weekend
> > > >
> > > > Does everybody have a tent.  I can bring an extra SMALL tent if
> > needed?
> > > >
> > > >    -----Original Message-----
> > > >    From:     Scott Palmer [SMTP:Scott.Palmer@exodus.net]
> > > >    Sent:     Tuesday, December 12, 2000 8:24 AM
> > > >    To:  'Luis Gasparini'; Ebner, Daniel; Clint.Dean@enron.com;
> > > > Rdonoghue@mphlegal.com
> > > >    Subject:  RE: This weekend
> > > >
> > > >
> > > >    I'm in for that.
> > > >
> > > >    BTW - pack a change of warm clothes, and I'd suggest some kind of
> > > > light
> > > >    nylon coat.  It might drizzle that day.
> > > >
> > > >    -----Original Message-----
> > > >    From: Luis Gasparini [mailto:lgasparini@simpletel.com]
> > > >    Sent: Monday, December 11, 2000 4:37 PM
> > > >    To: Ebner, Daniel; Scott Palmer; Clint.Dean@enron.com;
> > > >    Rdonoghue@mphlegal.com
> > > >    Subject: RE: This weekend
> > > >
> > > >
> > > >    Do you guys want to go in on some New York Strip steaks?  I can
> > pick
> > > > up some
> > > >    in bulk at Sam's and marinade them over night.  There are usually
4
> > > > eight to
> > > >    ten ounce steaks per package for around $20.  They are pretty
good
> > > > quality.
> > > >
> > > >    If we do it, should I get one or two packages?  I'm thinking two
> > > > (unless
> > > >    Scott is bringing Hunter, who we can BBQ instead).
> > > >
> > > >    -----Original Message-----
> > > >    From: Ebner, Daniel [mailto:DEbner@JPI.com]
> > > >    Sent: Monday, December 11, 2000 3:00 PM
> > > >    To: 'Scott Palmer'; Ebner, Daniel; 'Clint.Dean@enron.com'
> > > >    Cc: 'Rdonoghue@mphlegal.com'; 'lgasparini@simpletel.com'
> > > >    Subject: RE: This weekend
> > > >
> > > >
> > > >    Sounds good to me.  5 o'clock.   Just kidding.
> > > >
> > > >    > -----Original Message-----
> > > >    > From:   Scott Palmer [SMTP:Scott.Palmer@exodus.net]
> > > >    > Sent:   Monday, December 11, 2000 3:02 PM
> > > >    > To:     'Ebner, Daniel'; 'Clint.Dean@enron.com'
> > > >    > Cc:     'Rdonoghue@mphlegal.com'; 'lgasparini@simpletel.com'
> > > >    > Subject:     RE: This weekend
> > > >    >
> > > >    >
> > > >    > So did we get a consensus on the time?
> > > >    >
> > > >    > -----Original Message-----
> > > >    > From: Ebner, Daniel [mailto:DEbner@JPI.com]
> > > >    > Sent: Monday, December 11, 2000 2:54 PM
> > > >    > To: Scott Palmer; 'Clint.Dean@enron.com'
> > > >    > Cc: 'Rdonoghue@mphlegal.com'; 'lgasparini@simpletel.com'
> > > >    > Subject: RE: This weekend
> > > >    >
> > > >    >
> > > >    > I think I'd have a short position in camp fire wood.  I see the
> > > > intrinsic
> > > >    > value spiking upward (due to need for warmth) then crashing
down
> > > > (as it
> > > >    > turns to ash).
> > > >    >
> > > >    > However, I'm always long Beam.
> > > >    >
> > > >    > > -----Original Message-----
> > > >    > > From: Scott Palmer [SMTP:Scott.Palmer@exodus.net]
> > > >    > > Sent: Monday, December 11, 2000 2:47 PM
> > > >    > > To:   'Clint.Dean@enron.com'
> > > >    > > Cc:   'Ebner, Daniel'; 'Rdonoghue@mphlegal.com';
> > > >    > > 'lgasparini@simpletel.com'
> > > >    > > Subject:   RE: This weekend
> > > >    > >
> > > >    > >
> > > >    > > Not so fast, Clint.... for $4.50 you just get the wood, you
> > > > don't get an
> > > >    > > option to kick the wood.
> > > >    > >
> > > >    > > I'm writing December Wood-kicking calls for $1, who's
> > > > buying....?
> > > >    > >
> > > >    > > -----Original Message-----
> > > >    > > From: Clint.Dean@enron.com [mailto:Clint.Dean@enron.com]
> > > >    > > Sent: Monday, December 11, 2000 2:37 PM
> > > >    > > To: Scott Palmer
> > > >    > > Cc: 'Ebner, Daniel'; 'Rdonoghue@mphlegal.com';
> > > >    > > 'lgasparini@simpletel.com'
> > > >    > > Subject: RE: This weekend
> > > >    > >
> > > >    > >
> > > >    > >
> > > >    > > Wow, the wood I can kick!!!
> > > >    > >
> > > >    > >
> > > >    > >
> > > >    > >
> > > >    > > Scott Palmer <Scott.Palmer@exodus.net> on 12/11/2000 02:34:59
> > PM
> > > >    > >
> > > >    > > To:   "'Ebner, Daniel'" <DEbner@JPI.com>,
> > > > "'Rdonoghue@mphlegal.com'"
> > > >    > >       <Rdonoghue@mphlegal.com>, "'Clint.Dean@enron.com'"
> > > >    > >       <Clint.Dean@enron.com>, "'lgasparini@simpletel.com'"
> > > >    > >       <lgasparini@simpletel.com>
> > > >    > > cc:
> > > >    > >
> > > >    > > Subject:  RE: This weekend
> > > >    > >
> > > >    > >
> > > >    > >
> > > >    > > All right - I did the unthinkable, and bought a "half-cord"
of
> > > > wood.
> > > >    > For
> > > >    > > the uninitiated, a half-cord is a stack of roughly 18- to
> > > > 24-inch logs
> > > >    > > that
> > > >    > > is 8 feet long and 4 feet high.
> > > >    > >
> > > >    > > I'm going to bring about half of it camping, so we should
have
> > > > quite the
> > > >    > > fire.
> > > >    > >
> > > >    > > -----Original Message-----
> > > >    > > From: Ebner, Daniel [mailto:DEbner@JPI.com]
> > > >    > > Sent: Monday, December 11, 2000 1:55 PM
> > > >    > > To: Scott Palmer; 'Rdonoghue@mphlegal.com';
> > > > 'Clint.Dean@enron.com';
> > > >    > > 'lgasparini@simpletel.com'
> > > >    > > Subject: RE: This weekend
> > > >    > >
> > > >    > >
> > > >    > > Richard, are you coming.  You've been awful quite throughout
> > > > this.
> > > >    > >
> > > >    > > I think I can scrape together 500 pennies.
> > > >    > >
> > > >    > > > -----Original Message-----
> > > >    > > > From:   Scott Palmer [SMTP:Scott.Palmer@exodus.net]
> > > >    > > > Sent:   Monday, December 11, 2000 12:50 PM
> > > >    > > > To:     'Ebner, Daniel'; 'Rdonoghue@mphlegal.com';
> > > >    > > 'Clint.Dean@enron.com';
> > > >    > > > 'lgasparini@simpletel.com'
> > > >    > > > Subject:     RE: This weekend
> > > >    > > >
> > > >    > > >
> > > >    > > > OK, I can get some firewood.  I assume we're going to need
> > > > quite a
> > > >    > bit,
> > > >    > > > since we tend to build a pretty big fire every year.
> > > >    > > >
> > > >    > > > Can I assume that I can get $5 from everybody to help cover
> > > > the cost
> > > >    > of
> > > >    > > > the
> > > >    > > > wood?
> > > >    > > >
> > > >    > > > The place is easy, there's pretty much only one area to
tent
> > > > camp.
> > > >    > I'd
> > > >    > > > say
> > > >    > > > first ones there claim a good site.  It's been getting dark
> > > > around
> > > >    > 5:00
> > > >    > > > lately, so I'd say we need to get there before noon if
we're
> > > > going to
> > > >    > > get
> > > >    > > > a
> > > >    > > > decent ride in and be able to pitch tents before it gets
> > dark.
> > > >    > > >
> > > >    > > > That'll mean an early morning for the Dallas guys.... sorry
> > > > bout that.
> > > >    > > >
> > > >    > > > -----Original Message-----
> > > >    > > > From: Ebner, Daniel [mailto:DEbner@JPI.com]
> > > >    > > > Sent: Monday, December 11, 2000 11:48 AM
> > > >    > > > To: Scott Palmer; 'Rdonoghue@mphlegal.com';
> > > > 'Clint.Dean@enron.com';
> > > >    > > > 'lgasparini@simpletel.com'
> > > >    > > > Subject: This weekend
> > > >    > > >
> > > >    > > >
> > > >    > > > I did some looking for firewood around Coppell this
weekend.
> > > > Short of
> > > >    > > the
> > > >    > > > crap you get from Albertson's that burns up in about 15
> > > > minutes, I
> > > >    > could
> > > >    > > > not
> > > >    > > > find any.  This week, I've got something every night so I
> > > > can't shop
> > > >    > for
> > > >    > > > it.
> > > >    > > >
> > > >    > > > Can someone be in charge of getting firewood?  It's usually
> > > > best to
> > > >    > get
> > > >    > > > from
> > > >    > > > an actual firewood supplier that usually has trucks on the
> > > > side of the
> > > >    > > > road.
> > > >    > > > Nursuries sometimes have it also.  We can split up the cost
> > > > later.
> > > >    > > >
> > > >    > > > I'm pretty much planning on showing up with my tent,
sleeping
> > > > stuff,
> > > >    > > food,
> > > >    > > > Beam, bike, and lanterns.  Is there anything else I need to
> > > > bring?
> > > >    > > >
> > > >    > > > Also, what time, and where in the park are we meeting?
> > > >    > >
> > > >    > >
> > >
> > >


thanks
m


Never mind the last message.  I just realized we added the clause at the end
of Appendix "1."  Sorry for the confusion!

-----Original Message-----
From: Pfister, Christian W.
Sent: Friday, December 15, 2000 3:50 PM
To: 'Dan.J.Hyvl@enron.com'
Subject: FW: FW: Enfolio Contract with CPS

Mr. Hyvl,

I added Section 8.9 in your CPS file below incorporating "Utilization of
Small Business Concerns," a clause we are required as a municipality to
incorporate in all of our contracts.  I added it with the Word tracking
feature "in red" so you would not have to type it in yourself.  Let me know
if it causes your company any qualms.

As far as your question regarding purchase orders, all of our purchases from
Enron will reference the same purchase order so that you may use the same
number on each invoice.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Thursday, November 02, 2000 2:38 PM
To: CWPfister@cps-satx.com
Cc: "'Dan.J.Hyv@enron.com"@postmaster.enron.com
Subject: Re: FW: Enfolio Contract with CPS

Changed as requested.

(See attached file: CITYPublicServiceSanAntonio.doc)

                    "Pfister,

                    Christian W."         To:     "'Dan.J.Hyvl@enron.com'"

                    <CWPfister@cps        <Dan.J.Hyvl@enron.com>

                    -satx.com>            cc:

                                          Subject:     FW: Enfolio Contract
with CPS
                    11/02/2000

                    02:10 PM

Could you change paragraph iii at the end of Representations and Warranties
to read:

"(iii) its obligations to make payments hereunder are unsubordinated
obligations and such payments are operating and maintenance costs which
enjoy first priority of payment under the ordinances of the City of San
Antonio which govern payments by Customer."

There are no indentures to which CPS is a party.  Thanks ...

-----Original Message-----
From: Jon Wood [mailto:jwood@mattbran.com]
Sent: Thursday, November 02, 2000 11:15 AM
To: 'Pfister, Christian W.'; Jon Wood
Cc: Mc Whirter, Daniel D.
Subject: RE: Enfolio Contract with CPS

Change the clause after "first priority payment" in (iii) to "under the
ordinances of the City of San Antonio which govern payments by Customer."
There are no indentures to which CPS is a party.  Jon

-----Original Message-----
From: Pfister, Christian W. [mailto:CWPfister@cps-satx.com]
Sent: Thursday, November 02, 2000 8:29 AM
To: 'jwood@mattbran.com'
Cc: Mc Whirter, Daniel D.
Subject: FW: Enfolio Contract with CPS

Mr. Wood,

As requested, Enfolio shortened and simplified the section on
Representations and Warranties.  The new language is highlighted on page 2
of the Appendix and states the following:

"Further and with respect to Customer only, Customer represents and
warrants
to Company continuing throughout the term of this Agreement as follows: (i)
all acts necessary to the valid execution and performance of this Agreement
have been duly adopted, (ii) with respect to the contractual obligations
hereunder and performance thereof, it is not entitled to claim immunity on
the grounds of sovereignty or similar grounds with respect to itself or its
revenues, (iii) its obligations to make payments hereunder are
unsubordinated obligations and such payments are operating and maintenance
costs which enjoy first priority of payment at all times under any and all
indentures to which it is a party."

Do you feel that this language is acceptable?  Thank you for your advice.

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Wednesday, November 01, 2000 5:17 PM
To: CWPfister@cps-satx.com
Cc: Mc Whirter, Daniel D.; ."'James.I.Ducote""@enron.com'"
Subject: RE: Enfolio Contract with CPS

Please review the revised representations and warranties language. If
acceptable, please print 2 copies, sign and forward to Janet Wallis at
Enron for execution by Enron and return of one fully executed copy.
(See attached file: CITYPublicServiceSanAntonio.doc)

                    "Pfister,

                    Christian W."         To:     "'Dan.J.Hyvl@enron.com'"

                    <CWPfister@cps        <Dan.J.Hyvl@enron.com>,

                    -satx.com>            "'James.I.Ducote@enron.com'"

                                          <James.I.Ducote@enron.com>

                    10/30/2000            cc:     "Mc Whirter, Daniel D."

                    12:18 PM              <DDMcWhirter@cps-satx.com>

                                          Subject:     RE: Enfolio Contract
with CPS

If you could redraft the "representations and warranties" provision to be
simpler and clearer, I think that we could agree to it.  The other items
look fine.

-----Original Message-----
From: Jon Wood [mailto:jwood@mattbran.com]
Sent: Saturday, October 28, 2000 10:45 AM
To: 'Pfister, Christian W.'
Cc: 'ksyates@cps-satx.com'; Howard Bye
Subject: RE: Enfolio Contract with CPS

My reading is that Enron seeks a continuing representation that (i) all
transactions have the appropriate approval, waiving any defense of lack of
authority, (ii) there is no sovereign immunity (something is left out of
thelanguage) defense to any transaction, (iii) payment for the gas will be
first in the flow of funds, and (iv) the obligations are not subject to
debt
restrictions or other public funds restrictions of the Texas Constitution,
statutes or CPS constituency documents.  I think we can legally make these
representations and warranties, but the language needs some work.  You
should ask them to redraft this provision so it is simpler and clearer.
Jon

-----Original Message-----
From: Pfister, Christian W. [mailto:CWPfister@cps-satx.com]
Sent: Monday, October 23, 2000 2:16 PM
To: 'jwood@mattbran.com'
Subject: FW: Enfolio Contract with CPS

Mr. Wood,

This is a spot gas contract with Enron that you reviewed on August 8th for
Mary Pelayo and Danny McWhirter.  Enron has added a paragraph under
"Representations and Warranties" that I would like you to review.  I am not
sure exactly what it means.  Thank you.

-----Original Message-----
From: Yates, Katherine S.
Sent: Monday, October 23, 2000 1:52 PM
To: Pfister, Christian W.
Subject: RE: Enfolio Contract with CPS

Sounds like legal mumbo jumbo. I would advise getting John't input in case
he is more familiar with the reasoning behind this jargon.

Katherine S. Yates
CPS Attorney
353-2069

-----Original Message-----
From: Pfister, Christian W.
Sent: Monday, October 23, 2000 1:40 PM
To: Yates, Katherine S.
Subject: FW: Enfolio Contract with CPS

Kathy,

This spot gas contract was reviewed by Jon Wood a few months ago.  The
following was added under "Representations and Warranties" by Enron.  I
have
highlighted the text in the attachment so you can see where it was
incorporated (page 2 of Appendix 1).

"Further and with respect to Customer only, Customer represents and
warrants
to Company continuing throughout the term of this Agreement as follows:
(i)
all acts necessary to the valid execution and performance of this Agreement
have been duly adopted, (ii) with respect to the contractual obligations
hereunder and performance thereof, it is not entitled to itself or its
revenues or assets from (a) suit, (b) jurisdiction of court, (c) relief by
way of injunction, order for specific performance or recovery of property,
(d) attachment of assets or (e) execution or enforcement of any judgment,
(iii) its obligations to make payments hereunder are unsubordinated
obligations and such payments are operating and maintenance costs which
enjoy first priority of payment at all times under any and all indentures
to
which it is a party, its constitutional and governing documents and
applicable law, and (iv) its obligations to make payments hereunder do not
constitute any kind of indebtedness of Customer or create any kind of lien
on, or security interest in, any property or revenues of Customer which, in
either case , is proscribed by any provision of its constitutional and
governing documents, any order to judgment of any court or other agency of
government applicable to it or its assets, or any contractual restriction
binding on or affecting it or any of its assets."

Do you think this is acceptable, or do you think I should show this added
paragraph to Jon Wood?

-----Original Message-----
From: Dan.J.Hyvl@enron.com [mailto:Dan.J.Hyvl@enron.com]
Sent: Thursday, October 19, 2000 2:51 PM
To: Pfister, Christian W.; Mc Whirter, Daniel D.
Cc: James.I.Ducote@enron.com; Janet.H.Wallis@enron.com
Subject: Re: Enfolio Contract with CPS

(See attached file: CITYPublicServiceSanAntonio.doc)

Attached please find a revised Enfolio Contract with CPS.  The changes
      incorporated in the attached contract are:
1)  "City Public Service (San Antonio)" has been changed to "The City of
      San Antonio, acting through City Public Service Board".
2)  The effective date has been changed to "October 1, 2000.
3)  The changes requested in items 1 and 2 of the addendum have been
      incorporated.
4) The Utilization of Small Business Concerns language has been added as
      the last item in Appendix "1", and
5)  An additional representation has been added at the end of the
      Representations and Warranties in Appendix "1" relating to the
      necessary authorizations with respect to the execution, delivery and
      performance by Customer of  this Agreement.

If these changes are acceptable please advise and we will forward two
      original copies for execution.


Notice No. 01-146
May 16, 2001

TO:
All NYMEX Division Members/Member Firms
All NYMEX Division Clearing Members
All NYMEX Division Floor Traders
All NYMEX Division Operations Managers

FROM:
George Henderson, Vice President

RE:
Options Expiration Operational Procedures for the Trading
Floor and Clearing Members
________________________________________________________________

The expiration date for the June 2001 options contract for Platinum (POM1) is
Wednesday, May 16, 2001.

GENERAL OPERATIONAL PROCEDURES

All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below.  All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures.  All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.

Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.

CLEARING DEPARTMENT OPERATIONAL PROCEDURES

The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:

MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.

SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.

REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.

REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.

EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.

DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.

POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system.  This input may be made at any time prior to 6:45 p.m.  Any PCS input
via transmission for that contract series will be disregarded.

ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.

EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.

All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.

FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.

E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.

The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:

Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts

Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:30 PM
Usual Event Time: 6:45 PM
Announced via e-mail

Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:30 PM
Usual Event Time: 6:45 PM
Announced via Fast Facts

Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail

Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts

The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.

NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS

Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1

Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2

Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3

Time: 6:30 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4

Time: 6:45 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5

Time: 7:30 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6

Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7

If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at
299-2152 prior to the expiration date.

__________________________________________________
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=(01-146)"

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.


Hi Steve,

I am not sure if you remember meeting me when you were in India several
months back but I am a manager with Global Finance dedicated to the India
team. I received the following resume from a very good, old friend of mine
and thought you might be able to channel it in the right direction. I only
have very positive things to say about Bill; I hope you find that his skills
and backgrounds are of use to Enron and consider talking to him. I am in
India now but am available should you have any questions him.
Thank you for your consideration.

am
---------------------- Forwarded by Andrea Miller/ENRON_DEVELOPMENT on
07/13/2000 10:55 AM ---------------------------

William Maguire <wm126@uts.columbia.edu> on 07/11/2000 03:59:30 PM
To: Andrea.Miller@enron.com
cc:

Subject: Contact info/Resume

Hey Andrea

I spent some time exploring Enron's website and am very intrigued by your
company's extensive philanthropic programs and would be very interested
in speaking with anyone you might think would be appropriate.  I've
attached my resume just in case.

Of course, absolutely no pressure on you.

Any chance that you'll be in the bay area anytime soon?

Cheers.

Bill
 - williammaguire_resume.doc


Just constantly adding value, aren't we.....

Tracy Ngo
03/16/2001 01:36 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Subject email "Password Security Notice"

okay, so "baby" is a frequently used word amongst friends at work!!!

whatever right?!
---------------------- Forwarded by Tracy Ngo/PDX/ECT on 03/16/2001 01:42 PM
---------------------------

Todd Perry
03/16/2001 01:33 PM
To: Tracy Ngo/PDX/ECT@ECT
cc:

Subject: Re: Subject email "Password Security Notice"

C'est la vie, baby.


I don't remember if I told you that Fletch and I will be playing golf on
Saturday morning.

Thank You
Hunter


Stinson:  Norma has checked the internal equity in the group, and Kenneth is
fine in a senior specialist spot at that salary.  I will be happy to extend
an offer to him.  Did you discuss anything concerning the relocation package
with Kenneth?

Molly
x34804

Stinson Gibner
11/01/2000 06:18 PM
To: Molly Magee/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Kenneth Parkhill

Molly,

We would like to go ahead with an offer to Kenneth.    After talking to him
again, I think he will accept.

We would like to offer him the equivalent package to an incoming Associate,
which I understand would be $76K base and a signing bonus of $20K.

He position would be a specialist or senior specialist (whichever fits the
salary) reporting to me.

Thanks for your help,

Stinson
x34748


I have reserved EB30C1 from 3:30 pm - 5:30 pm.

Just a reminder that the 19th is the Research Christmas Party at Damians from
5:30 - 7:30 PM.

Shirley

Vince J Kaminski
12/08/2000 08:33 AM
To: Clayton Vernon/Corp/Enron@ENRON, Shirley Crenshaw/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: seminar on beyond ols

Shirley,

Can you reserve the room for Tue, Dec 19, 3:30?

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/08/2000
08:33 AM ---------------------------

	Clayton Vernon @ ENRON
	12/07/2000 05:38 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: seminar on beyond ols

Vince-

George just "remembered" the traders' meetings Monday and Wednesday
afternoons at 3:30. He' s going to email you- I think Tuesday would ensure a
turnout of traders as well as analysts. We  could easily have 20 people there
from Power alone, and there's always Gas .... When you decide the time,  can
you ask Shirley to reserve a conference room along the size of 30C1?

Clayton


Hey fruitcake.......

When does Elsa come in?  She can't find the itinerary and figures you have it.  =)  Are you coming up here also?

love ya,

d


More Questions from Allegheny.  Thanks!
Ben


texex@texas.net
12/19/2001 01:03 PM

 To: doncoston@yahoo.com, FlyingS2@aol.com, robert.dwiggins@alumni.utexas.net, RHBARRMD@aol.com, LSR51@aol.com, jbrewer@leathercenter.com
 cc:
 bcc:
 Subject: They build great outhouses in AR...

Arkansas Professional Engineering Exam

Calculate the smallest limb diameter on a persimmon tree that will support a 10 pound possum.

Which of the following cars will rust out the quickest when placed on blocks in your front yard?
A. '66 Ford Fairlane
B. '69 Chevrolet Chevelle
C. '64 Pontiac GTO

If your uncle builds a still that operates at a capacity of 20 gallons of 'shine per hour, how many radiators are required to condense the product?

A pulpwood cutter has a chain saw that operates at 2700 rpm. The density of the pine trees in a plot to be harvested is 470 trees per acre. The plot is 2.3 acres in size. The average tree diameter is 14". How many Budweiser tall-boys will it take to cut the trees?

A front porch is constructed of 2x8 pine at 24 inches on center with a field rock foundation. The span is 8 feet and the porch length is 16 feet. The porch floor is 1" thick rough sawn pine. When the porch collapses, how many hound dogs will be killed?

A 2-ton pulpwood truck is overloaded and proceeding down a steep grade on a secondary road at 45 mph. The brakes fail. Given the average traffic loading of secondary roads, how many people will swerve to avoid the truck before it crashes at the bottom of the mountain? For extra credit, how many of the vehicles that swerved will have mufflers and uncracked windshields?

A coal mine operates an NFPA class 1, division 2 Hazardous Area. The mine employs 120 miners per shift. A gas warning is issued at the beginning of 3rd shift. How many cartons of unfiltered Camels will be smoked during the shift?

At a reduction in gene pool variability rate of 7.5% per generation, how long will it take a town that has been bypassed by the interstate to breed a cross eyed country-western singer?


yes, I will be attending,

fletch

 -----Original Message-----
From: 	Black, Tamara Jae
Sent:	Monday, October 08, 2001 4:32 PM
To:	Presto, Kevin M.; Sturm, Fletcher J.; Benson, Robert; Gilbert-smith, Doug; Davis, Mark Dana
Subject:	Trading Track Dinner

Please let me know ASAP if you will be attending the Trading Track Dinner for Lavorato:

October 16th
Place - TBD
Time - TBD

Thanks

T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760


Good Morning,
We wanted to send out some clarification, minor changes, and to thank you again for your participation in the UBS Warburg Energy Pilot Migration, your feedback will greatly assist us in making the transition to the new environment as effective as possible.
Unfortunately we are still awaiting information from our Corporate Legal staff regarding legally acceptable and appropriate procedures for moving data between the Estate (i.e. current Enron) data shares and UBS Warburg Energy data shares.
For this reason you are not authorized to copy any data from your Estate data shares (your Z:\ drive) following your migration until the formal communication from Legal has been communicated and a procedure for this has been provided.
Until the formal procedure has been received from Legal and distributed to users, the O:\Estate\O drive, O:\Estate\M drive, P:\Estate\P drive (Portland users) and P:\Estate\I drive (Calgary users) data will not be available to migrated users.  We do expect this policy to be in place some time day or this weekend, which will alleviate these restrictions.
Please be aware that we may be advised to delete any data present on your new H:\ drives after the formal notification from Legal has been distributed.
We greatly apologize for the lack of forewarning regarding this information and apologize for any inconvenience caused. Please contact 3-1411 if any of this information is unclear.
Thank you for your continued participation in the Migration effort.

Regards,

Dan Dietrich
Office:	 713-345-8836
Mobile: 713-569-3651


Dawn,

Jay and Randy are on the list, but I left them blank.  I also populated Paul
Lucci and the Chicago traders.  Jim Simpson is a Chicago trader not on the
list.  He would be FT-IM-ENOV for P,B,&I.  Thanks.

DG    3-9573

Dawn C Kenne
12/07/2000 08:51 AM
To: Jeffrey C Gossett/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, Darron C
Giron/HOU/ECT@ECT, William Kelly/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT
cc: Torrey Moorer/HOU/ECT@ECT, Tara Sweitzer/HOU/ECT@ECT
Subject: Physical Trader "Matrix"

Attached is a list of the traders with access to trade physical products.  As
we discussed yesterday, please provide the correct tagg books for price,
basis and index corresponding to the appropriate trader.  Is there any way to
get this back by lunch?  We have a meeting set up with Tagg IT and need this
information.

Let me know if you need any further information.  Thanks again for all of
your help.

Dawn
3-9353


Rakesh,

I have informed Ryan Siurek (cc Rick Buy) on Oct 4
that I cannot sign off on any analysis
done by our group without looking at full set of
legal documents related to the LJM
transactions. Those documents were not provided and therefore
we cannot sign off on any analysis done in the past.

I have come to a conclusion that we cannot support
the valuations based on verbal and
often conflicting information, without doing  full due
diligence.

Feel free to provide the information to Kimberly but,
please, inform her I cannot support the quantitative analysis
we have done in the past. I am especially concerned about the conflict between
the existence of the restriction and the existence of a put that are, in my view,
mutually exclusive.

Vince

-----Original Message-----
From: Bharati, Rakesh
Sent: Monday, October 22, 2001 2:22 PM
To: Kaminski, Vince J; Shanbhogue, Vasant
Subject: FW: Note on Valuation
Importance: High

FYI

-----Original Message-----
From: kimberly.r.scardino@us.andersen.com
[mailto:kimberly.r.scardino@us.andersen.com]
Sent: Monday, October 22, 2001 1:56 PM
To: Bharati, Rakesh; Siurek, Ryan
Subject: Re: Note on Valuation
Importance: High

This is the latest version of your Raptor valuation memo that we have.  Is
there a more recent version with the changes we discussed (i.e. UBS shares
are not in a forward contract, 4 year restriction, etc.)?

To:   Kimberly R. Scardino@ANDERSEN WO
cc:
Date: 09/26/2001 10:43 AM
From: Rakesh.Bharati@enron.com
Subject:  Note on Valuation

Kimberly,

Here is the note.  Do let me know if I can assist further.

 <<Note to AA09242001.doc>>

Rakesh Bharati
Phone: (713) 853-0936
Fax:     (713) 646-2503

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


AGA for 10/20/00 is 71


<<CSFB_EnergyTech_May1701.pdf>>

Summary:

* U.S. President George W. Bush unveiled his National Energy Policy
today.  In our report we list the recommendations made by the National
Energy Policy Development Group (NEPD) as they pertain to Renewable and
Alternative Energy.  In addition, following each recommendation, we provide
our views on the potential impacts on specific CSFB covered companies
(AstroPower - APWR, Ballard Power Systems - BLDP, Capstone Turbine - CPST,
FuelCell Energy - FCEL, Proton Energy Systems - PRTN) in the Energy
Technology sector.
* We would note that many of the recommendations instruct certain
departments or individuals to conduct further research on various topics and
to report back to the President at a later date.  Our view is that many were
included as a counter point to more contentious issues and may receive
somewhat limited action from the Administration.
* Overall, we are not changing our estimates or recommendations on any
of our companies at this point in time.  The proposed solar tax credit
when/if passed will cause us to review our forecasts for AstroPower.  We are
not forecasting incremental unit volume of production given the capacity
constraint of the company, although residential installations tend to have a
higher revenue per watt and higher margins than non-residential markets and
therefore could result in higher EPS contribution.

Regards,

Marko Pencak
416-352-4580
Cameron Jeffreys (Associate)
416-352-4581

Energy Technology Research
CREDIT | FIRST
SUISSE | BOSTON

 - CSFB_EnergyTech_May1701.pdf


Any flexibility to move it up to November 1?   If there's no flexibility, that's fine.

 -----Original Message-----
From: 	Shapiro, Richard
Sent:	Thursday, October 18, 2001 2:37 PM
To:	Yoho, Lisa
Subject:	RE: Clarification

Are you kidding?.......if not. I would suggest November 12, the day we are likely to use on a uniform basis.

 -----Original Message-----
From: 	Yoho, Lisa
Sent:	Thursday, October 18, 2001 2:35 PM
To:	Shapiro, Richard
Subject:	Clarification

Rick:  I forgot to ask you about my last day when we talked this morning.  I was hoping that it could be next Friday?   Is that possible?

Thanks,

Lisa


> Interesting....
>
>  -----Original Message-----
> From:  Brown, Michelle
> Sent: Wednesday, March 21, 2001 1:42 PM
> To: PGE CPUC Meeting List
> Subject: CPUC Announces Appointment of Gary Cohen
> Importance: High
>
> Attached is a CPUC news release announcing Gary M. Cohen as new General
> Counsel.
>
> Michelle Brown
> Regulatory Relations Dept.
> 973-4662
>
>  <<NewsRelease.Cohen.doc>>

 - NewsRelease.Cohen.doc


Greetings!

We wanted to let you know that the greeting you sent to trey.cash@enron.com
on 10/17/2001 00:51 has just been picked up!

If you would like to view the greeting you sent, click on, or copy and
paste, the following link:
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MSN Greeting Service is powered by Egreetings Network, Inc., http://www.egreetings.com

(c)2001 Microsoft Corporation. All rights reserved.


Kay:

This morning, Rusty requested that we prepare an Option Agreement for the 29
acre parcel west of the Livingston Energy Center.  This property could be
used as a construction laydown site, but more importantly would provide a
sound buffer for the project.  It is our understanding that the Option
Agreement is to be presented to the property owner at some point next week.
We will forward a draft of the agreement to you no later than Monday,
October 16, 2000.  Please feel free to call me or Don Shindler
(312-368-2175) with any questions regarding the agreement.  Best regards.

Karen S. Way
Piper Marbury Rudnick & Wolfe
203 N. LaSalle
Chicago, Illinois 60601
email:  karen.way@piperrudnick.com
(ph) 312-368-2152
(fax) 312-630-6347

____________________________________________________________________________
The information contained in this communication may be confidential, is
intended only for the use of the recipient named above, and may be legally
privileged.  If the reader of this message is not the intended recipient, you
are hereby notified that any dissemination, distribution, or copying of this
communication, or any of its contents, is strictly prohibited. If you have
received this communication in error, please re-send this communication to
the sender and delete the original message and any copy of it from your
computer system.
Thank you.

For more information about Piper Marbury Rudnick & Wolfe, please visit us at
http://www.piperrudnick.com/
____________________________________________________________________________


Good morning,
I am sorry, to hear that you will not be able to join us - would know of
anybody else at Enron who would possibly be interested in presenting at our
conference?
Thank you for your assistance in this matter -----Britta----

-----Original Message-----
From: Vince J Kaminski [mailto:Vince.J.Kaminski@enron.com]
Sent: Thursday, April 13, 2000 6:08 AM
To: brittab@informationforecast.com
Cc: Vince J Kaminski
Subject: Re: Infocast's Valuing Electric Power Assets and Companies: A
Real Options Perspective

Britta,

Thanks for your message.
I have several commitments at the time of the conference
and have to decline with regret.

Vince

"Britta Bothe" <brittab@informationforecast.com> on 04/12/2000 03:52:46 PM

Please respond to <brittab@informationforecast.com>

To:   <vkamins@enron.com>
cc:
Subject:  Infocast's Valuing Electric Power Assets and Companies: A Real
Options
      Perspective

Dear Mr. Kaminsky,

As I mentioned on your voice mail, Infocast is going to host an ?Valuing
Electric Power Assets and Companies: A Real Options Perspective? conference
to be held on July 31- August 2, 2000, in Chicago, IL - I would like to
explore your or your organization's possible participation at this event
with you.  This conference has been designed to bring together industry
professionals, like you, to provide the latest details on a "Real Options"
approach to electric power asset valuation.

I have attached a draft program outline for your review.  If you or someone
else at your company is interested in presenting on one of the topics please
let me know.

I truly appreciate your taking the time to review the conference schedule
and hope that you will consider participating.  I am running behind schedule
in finalizing this program.  I will call you on tomorrow to follow up with
you on this invitation.  In the meantime, if you have any questions or
suggestions, please do not hesitate to contact me at (818) 888-4445, ext.
30.  I hope you can join us for this event.

Sincerely,

Britta Bothe

INFOCAST
Conference Manager
(See attached file: EA&CV, Program Outline, Scenario 1.doc)


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there is a band?  what is going on this weekend?