----- Forwarded by Stacy E Dickson/HOU/ECT on 04/02/2001 03:59 PM -----

	Chris Walker
	04/02/2001 03:15 PM

		 To: Stacy E Dickson/HOU/ECT@ECT, Kevin Ruscitti/HOU/ECT@ECT
		 cc: Savita Puthigai/Enron@EnronXGate, Kevin Meredith/Corp/Enron@ENRON,
Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT
		 Subject: Re: Secondary firm delivery

Stacy,

Please see the latest description for Kevin's secondary firm product  and let
us know of any suggestions/changes.

Kevin R.-
 The currency and unit of measure must be stated last on EnronOnline.  Also,
there cannot be italicized or bolded text.

Thanks,

CW
3-7533

A US gas transaction with Enron North America Corp., under which Seller shall
sell and Buyer shall purchase a quantity of natural gas equal to the Daily
Contract Quantity at the Contract Price on a Secondary Firm basis.  The
Contract Price shall be as submitted by Counterparty via the Website.  The
Period of Delivery shall be from the Effective Date through the Termination
Date.
The term of the Transaction shall correspond to the date(s) set forth in the
Product Description on the Website.
The Transaction is for delivery at an ANR Pipeline Company ML7 interconnect.
The Purchaser will determine at what ML7 interconnect to take delivery.  The
volumes Delivered by the Seller are subject to reductions due to operational
constraints on the ANR Pipeline system. In the event that scheduled volumes
are reduced due to pipeline operational constraints, Buyer will designate an
alternate ML7 delivery location until an unconstrained point is designated.
In the event that the Buyer cannot take receipt at an alternative ML7 point,
the Buyer must arrange for the gas to be delivered off-system, stored or
parked at the Buyer,s expense. These reductions due to Pipeline System
constraints are not considered a failure to perform by the Purchaser.
The price is quoted in US dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be millions of
British Thermal Units (BTUs) and the quantity shown shall be in millions of
BTUs per day.
---------------------- Forwarded by Chris Walker/HOU/ECT on 04/02/2001 02:48
PM ---------------------------
From: Kevin Ruscitti on 04/02/2001 02:20 PM
To: Chris Walker/HOU/ECT@ECT
cc:
Subject: Re: Secondary firm delivery

Chris,

Please take a look at the attached language and forward it to Stacey for her
comments.

Thanks,

Kevin

Chris Walker
03/27/2001 12:07 PM
To: Stacy E Dickson/HOU/ECT@ECT
cc: Kevin Ruscitti/HOU/ECT@ECT
Subject: Secondary firm delivery

Stacy,

Kevin Ruscitti has requested a secondary firm ANR ML7 phy gas product for
EOL.  I have located some language that you and Dale worked on back in May of
2000.  Please let me know if this language will be OK for our needs.  Also,
will the current GTC for Phy gas need to be revised in any way?

Thanks,

CW
3-7533

A US Gas Transaction with Enron North America Corp., under which Seller shall
sell and Buyer shall purchase a quantity of natural gas equal to the Daily
Contract Quantity at the Contract Price on a secondary firm basis. The
Contract Price shall be as submitted by Counterparty via the Website.  The
Period of Delivery shall be from the Effective Date through the Termination
Date.
The term of the Transaction shall correspond to the date(s) set forth in the
Product description on the Website.
The transaction is for delivery at the ANR Pipeline Company ML7
interconnect.  The volumes scheduled to be delivered are subject to
reductions due to normal operational constraints on the ANR  Pipeline Company
pipelines based upon historical operating conditions.  The reductions caused
by these constraints are excused nonperformance and are not considered a
failure to receive or deliver firm gas.  In the event that the volumes
scheduled are reduced due to such normal operational constraints, Buyer may
designate a secondary firm delivery location.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be millions of
British thermal units and the quantity shown shall be in millions of BTUs per
day.


Start Date: 1/8/02; DayAhead market;  DayAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

Error: Crawler lifetime exceeded.


Glen, I had a conversation with Pat Davidson (SoCal) yesterday.  Things have been going smoothly,
	because SoCal has not been calling any OFO days.  She felt like we would not have an issue until
	spring and at that time, there is an expectation that SoCal could be calling more OFOs.  We agreed
	to continue talking, but that does not resolve the issue completely.  Thanks. Lynn

 -----Original Message-----
From: 	Hass, Glen
Sent:	Monday, December 03, 2001 9:44 AM
To:	Donoho, Lindy; Blair, Lynn; Harris, Steven; Watson, Kimberly; Kilmer III, Robert; Lokey, Teb; Kowalke, Terry; Schoolcraft, Darrell; Lindberg, Lorraine; Lohman, TK; Rapp, Bill
Subject:	FW: SoCalGas Response to TW Protest of AL 2837-A

FYI--Attached below is a summary of the protests and comments the CPUC received in response to SoCalGas'  Advice Letter filing on receipt point operating procedures.

Lynn,  Are they still working with us to resolve the OFO/Intraday 2 issue?  gh

 -----Original Message-----
From: 	"Dan Douglass" <douglass@energyattorney.com>@ENRON
Sent:	Friday, November 30, 2001 5:59 PM
To:	Rapp, Bill; Hass, Glen; Gregg Klatt
Subject:	SoCalGas Response to TW Protest of AL 2837-A

Attached is the SoCalGas response of our mild protest to their advice  letter 2837-A.  The relevant language is on page 5 of their letter and has  been highlighted for your convenience.  In part, they state that:

"These types of reductions are no different from today's  practice of allowing customers to reduce nominations in the fourth scheduling  cycle.  The flaw is not in SoCalGas  new procedures.  SoCalGas provides  customers with notice of an upcoming OFO two hours prior to scheduling cycle  closing times.  Within those two  hours, customers can make changes to their nominations and still meet the  scheduling timeline as defined by GISB standards.  Even if SoCalGas cuts nominations in  cycle four because customer reductions don't reduce deliveries enough to avoid  operational problems, changes in cycle 4 are within GISB standards.  Transwestern is supposed to be complying  with those GISB standards and seems to state that it is unable to do  so."

They go on to state a willingness to  work with us on the issue.  There is no procedural option for us to respond  to their response.  At this point, our option is to meet with Energy  Division staff to discuss the issue further, should we feel the need to do  so.

Have a good weekend!
Dan

Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd.  Suite  244
Woodland Hills, CA 91367
Tel:   (818) 596-2201
Fax:   (818) 346-6502douglass@energyattorney.com << File: mailto:douglass@energyattorney.com >>

 - 2837ARES.DOC << File: 2837ARES.DOC >>


Geoff,

In Zhiyongs absence, we would like to get some details from you regarding basis options.
Let me know when you can meet with us sometime next week.

Thanks, d.n.


I wanted to review where I think we are in this transaction.

1. Escrow account. We are still awaiting  closure on the issue of the
lender's security interest in the escrow account.  A proposal was discussed
with them to ensure that we could still close the transaction even if Delta
had defaulted under their loan arrangement.  Indications were that this
approach was generally acceptable, and Delta/Hancock are to send a letter
agreement concerning this approach.  This has not yet been received.  This
prevents the establishment of the escrow account.  We have sent the escrow
agreement to the bank, but Delta has not completely signed off on the
agreement.

2. GE turbine contract.  Delta sent requested changes yesterday, and these
were forwarded to GE.  I have not received a response from GE.

3.  Miscellaneous docs.  Enron has responded to all the documents requested
by Hancock.  We are awaiting responses to our drafts.

4.  GE consent.  Hancock requested some changes to the current draft, and a
new letter agreement.  GE hasn't responded to the requests yet.  GE has dealt
directly with Freshfields, so it is possible that there are discussions we
aren't involved in.

I've left Lee a message concernig the GE items and the timing of signing.

Carolyn, please correct/add anything you think is important.

Kay


To help accomplish our business goals, the following management appointments
are effective immediately:

Tod Lindholm, previously Managing Director - Chief Accounting Officer for
EBS, will move to Corporate as Managing Director and assume responsibility
for Business Risk Management, IT Compliance as well as working on a number of
special assignments for Rick Causey, Executive Vice President - Chief
Accounting Officer for Enron Corp.

John Echols, currently Managing Director - Risk Systems Development for EBS
will assume responsibility for accounting and administration for EBS  as well
as his current responsibilities and will report to the Office of the Chairman
for EBS.

Everett Plante, currently Vice President - Chief Information Officer for EBS
will now  report directly to the Office of the Chairman for EBS.


Markets Utility Stocks May Stall Amid Tech Rebound
Los Angeles Times, 12/12/00
INDIA: Enron India unit local lenders to cut rates.
Reuters English News Service, 12/12/00

Three Firms to Sell Natural Gas Instead of Selling Products That Use It
KRTBN Knight-Ridder Tribune Business News: The Dallas Morning News - Texas,
12/12/00

Activate ''Year-In-Review'' Factsheet
Business Wire, 12/12/00

Enron Sheds No Light on Consumer
The Times of India, 12/12/00

Enron deal can be nullified: Retd SC judge
The Times of India, 12/12/00

Green Mountain Applies To Be 10th Texas Elec Supplier
Dow Jones Energy Service, 12/11/00

The New Power Company Certified As A Retail Natural Gas Marketer In Georgia
PR Newswire, 12/11/00

USA: Big names dominate in Internet energy trading race.
Reuters English News Service, 12/11/00

Dynegy's New E-Commerce Site Had $1.5 Bln in November Trading
Bloomberg, 12/11/00

Business; Financial Desk
Markets Utility Stocks May Stall Amid Tech Rebound
THOMAS S. MULLIGAN
?
12/12/2000
Los Angeles Times
Home Edition
Page C-4
Copyright 2000 / The Times Mirror Company
NEW YORK -- Electric utility stocks, driven by strong power demand, falling
bond yields and defensive-minded investors, have had a remarkable year so
far.
The Dow Jones utility stock index is up 36% year to date, while most U.S.
blue-chip indexes are in the red.
But in recent weeks many utility stocks have flattened. California's current
power crisis notwithstanding, analysts note that we are headed into the part
of the year when electricity demand slackens.
Is the utility sector played out for now? Is it time to take profits and move
on?
Experts who follow electric utilities say much depends on the rest of the
stock market. It's no accident that major utility indexes hit bottom in the
second week of March, just as the tech-dominated Nasdaq composite index was
soaring to its all-time high.
Now, if tech stocks continue to recover from their spring and summer
collapse, that could divert money from utility shares, analysts say. When a
traditionally exciting sector like tech is red-hot, nobody wants to hear
about utility stocks, said Doris Kelley-Watkins, portfolio manager of the
Evergreen Utility Fund.
Many investors who initially piled into utility issues in winter and spring
were seeking a safe haven as Nasdaq plunged: With their high-dividend yields,
big utility companies have long been favorite defensive plays.
But then came the summer peak power-use season, and the country woke up to
the reality of an electricity shortage. Utility stocks zoomed. The terrific
gains "were a real boon to investors who came here thinking they were going
to be bored," Kelley-Watkins said.
Indeed, stocks of firms such as Dynegy (ticker symbol: DYN), Calpine (CPN),
Reliant Energy (REI) and Duke Energy (DUK) are up more than 70% so far this
year.
Kelley-Watkins, like a number of Wall Street analysts, believes that the
"easy money" in utility stocks already has been made. Nevertheless, there
will still be opportunities in the sector as long as generating capacity
stays tight--which it is sure to do for at least two or three more years, she
said.
Some new power plants will be coming online toward the end of 2002,
Kelley-Watkins added, but the current supply squeeze has been more than a
decade in the making and will not be quickly solved.
Hence, some of the biggest gainers this year are utilities that have
extensive energy-trading operations--Duke and Reliant, for example. They
could continue to take advantage of soaring demand and unusual volatility,
Kelley-Watkins said.
Dynegy and Houston-based Enron (ENE), the nation's biggest wholesale power
marketer as well as a major trader of natural gas and other commodities, are
among the Evergreen fund's biggest holdings.
Kelley-Watkins also thinks that Sempra Energy (SRE), parent of San Diego Gas
& Electric, has made a good transition from a heavily regulated owner of
power plants to an energy distributor and transmitter. But she shies away
from Sempra's giant California cousins, PG&E (PCG) and Edison International
(EIX, parent of Southern California Edison), which she considers too
debt-burdened.
Nobody welcomes a recession, but Timothy M. Winter, analyst at A.G. Edwards
in St. Louis, said an economic downturn probably would help utility stocks,
as many remain relatively cheap in terms of price-to-earnings ratios, and
would continue to be viewed as a defensive haven.
The presidential election outcome also matters, Winter said. Most Wall
Streeters think a George W. Bush victory would be a plus for the sector
because he probably would be more open than Al Gore to new power plant
construction.
Winter likes Progress Energy (PGN), formerly Carolina Power & Light, because
of its dominance in the fast-growing Southeast. His firm also recommends
American Electric Power (AEP) and Xcel Energy (XEL).
Michael S. Worms, analyst at Gerard Klauer Mattison in New York, said
although electric-utility earnings should continue strong into next year, it
will be hard to duplicate this year's 20% average profit gains. "We had a
phenomenal year because of tight capacity and high prices," Worms said.
Utility stocks probably would have done well on such business fundamentals,
but they also received a strong tail wind from the stumbling tech sector,
said Worms.
If tech shares have bottomed, and if the Federal Reserve speeds the market's
recovery with interest-rate cuts, that will hurt the performance of utility
stocks, Worms said.
His top pick is Calpine, even though shares of the San Jose-based energy
generator and marketer already have had an amazing two-year run, up 200% so
far this year, on top of a 400% surge in 1999.
(BEGIN TEXT OF INFOBOX / INFOGRAPHIC)
Running Low on Power?
Utility stocks surged in spring and summer, but the group has stalled
in recent weeks.
Dow Jones index of 15 major utility stocks, weekly closes and latest
Monday: 386.41
Source: Bloomberg News

GRAPHIC-CHART: Running Low on Power?, Los Angeles Times;
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

INDIA: Enron India unit local lenders to cut rates.

12/12/2000
Reuters English News Service
(C) Reuters Limited 2000.

BOMBAY, Dec 12 (Reuters) - The Indian unit of U.S. energy giant Enron said on
Tuesday that four local lenders have agreed to cut their rates on loans to
its project which is under fire from critics for producing costly power.
ICICI , Canara Bank, State Bank of India and Industrial Finance Corporation
of India have all agreed to cut rates by 450 basis points to 16.5 percent, a
spokesman of Dabhol Power Company told Reuters.
Dabhol Power Company is 65 percent owned by Enron and is implementing a
two-phase 2,184 MW power project in Maharashtra. Phase one of the project is
already in operation.
The cuts will help in lowering the tariff at which Enron sells power to the
Maharashtra government, he said.
The spokesman said the firm is considering a reduction in tariff but did not
reveal details.
Last week, Industrial Development Bank of India agreed to drop rates by a
similar margin.
The spokesman did not specify when the cuts by the financial institutions
would come into effect.
The state government wants the project to be reviewed but is yet to take a
final view.
Enron says the high tariff would come down next year when it switches over to
the cheaper fuel of natural gas from naphtha.
The project cost of $1.9 billion is financed 70 percent through debt.
Enron's project is among the few foreign power projects to have begun
operations since India opened up its power sector in 1992.

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

Three Firms to Sell Natural Gas Instead of Selling Products That Use It
Terry Maxon

12/12/2000
KRTBN Knight-Ridder Tribune Business News: The Dallas Morning News - Texas
Copyright (C) 2000 KRTBN Knight Ridder Tribune Business News; Source: World
Reporter (TM)

Here's how expensive natural gas has become: Three companies decided Monday
they could make more money from selling their natural gas than from selling
products using natural gas.
Natural gas prices hit yet another all-time high Monday, closing at $9.413
per million British thermal units on the New York Mercantile Exchange. That
represented an 83-cent increase from Friday's close, up 9.6 percent.
Two fertilizer manufacturers, Terra Industries Inc. and Mississippi Chemical
Corp., said they were selling natural gas that normally would go to make
nitrogen, ammonia or other products.
And oil company Seneca Resources Corp. said gas normally used to boost heavy
oil production in a California field would be sold instead.
Jeff Shorter, vice president of TXU Energy Trading in Dallas, said he's not
surprised to hear companies are selling their natural gas rather than using
the gas to make their products.
"I don't think that's the last of them either," Mr. Shorter said.
He said he expects other companies to come to the same decision as Terra.
There are a number of companies that have fully hedged their natural gas
purchases at lower prices, and can make a profit that "far exceeds" what they
can earn from selling their core business products, he said.
He noted that the prices in spot markets Monday were even higher than in
NYMEX trading. Gas for Midwest delivery ranged from $11 to $13 and $14, and
New York gas was at $12 and higher.
"Typically, in the winter time we have a great deal of volatility which you
don't see in the futures market," Mr. Shorter said.
Spot prices have been much higher in the West, where restricted natural gas
supplies, shut-down generators and low levels of water for hydroelectric
plants have contributed to skyrocketing electricity prices.
Terra, based in Sioux City, Iowa, said it closed one of two ammonia plants in
Verdigris, Okla., and its Blytheville, Ark., plant this month, so it could
sell the natural gas used by those plants. It is profiting about $2 to $3 per
MBtu on the gas it is reselling.
"The natural gas price increase since our December requirements were
purchased for Verdigris permitted us to sell a portion of those purchases and
generate higher gross profits than could be realized from selling the
products manufactured with the natural gas," said Michael L. Bennett, Terra
executive vice president and chief operating officer.
On Nov. 30, Terra said it was closing its Beaumont plant because it couldn't
make a profit at current gas prices.
Terra said then that its production costs would exceed selling prices when
natural gas prices climbed above $6. When the decision was announced Nov. 30,
NYMEX gas prices closed at $6.673 an MBtu. Since then, the prices have risen
nearly $3.
Terra said it would re-evaluate the situation toward the end of December.
Mississippi Chemical said it was selling all of its futures contracts for
natural gas to lock in the current prices. It said it would post a $16
million pre-tax gain by selling the gas contracts.
The company's president and chief executive officer, Charles O. Dunn, said
selling the natural gas was in Mississippi Chemical's "best interests."
"We remain committed to the nitrogen business and our customers, but we also
have to take advantage of opportunities to optimize cash flow during these
challenging times," Mr. Dunn said. "It is our belief that the current
unprecedented natural gas prices are unlikely to be sustained during the
intermediate term."
Seneca Resources, based in Buffalo, N.Y., said Monday it would sell the
natural gas it had been using for its steam injection project at a California
oil field. It expects to post a pre-tax profit of about $31,000 a month, it
said.
"In light of the current natural gas shortage in California, we felt it was
important to curtail our steaming operations and allow that gas to be used to
heat homes and generate electricity," Seneca president James Beck said.
In at least one case, high electricity prices have induced a company to sell
off the electricity for which it has contracted rather than continue
operations.
On Sunday, Kaiser Aluminum & Chemical Corp. said it would close its Pacific
Northwest smelters until at least Oct. 1, 2001, and was selling the
electricity those plants would have used.
Although it must pay laid-off employees a portion of their salaries, the
power sales from December alone will bring Kaiser $52 million.
Mr. Shorter of TXU and Mark Palmer, spokesman for Houston energy company
Enron Corp., said the arrival of cold weather and the sharply higher natural
gas prices have brought more companies to their doors asking for help in
managing their energy costs.
"Volatility is good for us," Mr. Palmer said.
Mr. Shorter said the price of natural gas has justified a switch from natural
gas to fuel oil for a number of their customers.
Supplies of natural gas have remained adequate, but companies that didn't
prepare for winter energy costs will feel a financial hit, Mr. Shorter said.
"You're going to see a real economic strain in a lot of geographic regions --
if not nationally -- on the economic viability of a lot of these companies"
that had no program to manage energy risks or had plans that were
"ill-advised or improperly timed," he said.
Terra senior vice president Mark Rosenbury said Monday the company will look
at gas prices between Christmas and New Year's to see if it can profitably
buy natural gas and reopen the shuttered plants.
Mr. Rosenbury said he sees the current spike in natural gas prices as "an
aberration" and expects prices to fall to historical norms of $2 to $3 fairly
soon.
"Maybe it's longer than I think. But the cost of finding, producing and
selling natural gas doesn't command the price it's at today," he said.

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

Activate ''Year-In-Review'' Factsheet

12/12/2000
Business Wire
(Copyright (c) 2000, Business Wire)

SEATTLE--(BUSINESS WIRE)--Dec. 12, 2000--Activate emerged as a leading
digital media services company, Webcasting a record number of live events and
winning two industry awards to cap a year of dramatic growth.
A majority-owned operating company of CMGI, Activate's business has grown
15-30X across all key metrics, both in volume and scope of work. Over 8,000
businesses employed Activate's broad range of digital media services,
including production and distribution of online live and on-demand events for
both business communications and consumer events. In addition, Activate
experienced over 100 million streams in 2000.
"This has been quite a year for Activate," said Jeff Schrock, CEO and founder
of Activate. "We've been fortunate to be involved in this industry from the
very beginning and it has been exciting to see the digital media explosion
over the last year. Activate's goal continues to be providing our customers
with high-quality, cost-effective digital media solutions and we were
fortunate to end the year on a high note, receiving two industry awards from
Computerworld and Network World for our network performance and service
offerings."

Notable Activate milestones for 2000 include...

NETWORK

-- Recognizing the broadband evolution, Activate focused on key
network innovations, including cell-based server architecture.
Activate's advanced network boosts bandwidth efficiency,
increasing the company's peak capacity and refining Activate's
load balancing and caching techniques. These enhancements
contributed to Activate's Blue Ribbon win in Network World's
Streaming Media Review, beating Akamai, iBeam and Digital
Island.

-- Coordination and cross-connection with other content
distribution networks (CDNs), including Mirror Image, Enron,
Digital Island, and AT&T. These skills led to a significant
role in MSN's multi-network Webcast of Madonna's London
concert, which was produced by sister company Navisite.

AUDIENCE REACH

-- With over 40,000 Webcasts in 2000, Activate streamed more live
events than any other service provider, including Akamai,
iBeam and Digital Island. Live events ranged from concerts for
the Backstreet Boys and corporate announcements for Compaq,
Amway and Microsoft to Seattle Seahawks game Webcasts and a
political rally for Ralph Nader.

-- Activate experienced new peaks in bits-per-second simultaneous
transmission, total simultaneous viewers and total bytes
transferred. These peaks resulted from combined audiences of
hundreds of simultaneous events during Activate's highest
traffic periods, averaging over 25 million streams per
quarter.

-- Acknowledging the impact of the World Wide Web, Activate
partnered with European streaming media provider Unit.net to
ensure global reach.

BUSINESS EXPANSION

-- Activate expanded into a 60,000 square foot production and
operations center in Seattle, and additional operational and
sales locations in New York, San Francisco, Los Angeles,
Boston and Chicago. This growth complements the continued
growth of Toronto-based Activate Canada, the leading streaming
media provider in the Canadian market.

INDUSTRY REACH

-- Financial: Since Regulation FD went into effect, Activate
established a 75 percent market share in the financial space,
broadcasting nearly 4,000 earnings calls in the third quarter.

-- Entertainment: Activate's digital media solutions were a
breakthrough hit with the entertainment industry, including
partnerships with BMG, MTVi and Miramax. From pop and rock to
jazz and hip-hop, Activate provided digital media services for
today's hottest artists including Jay-Z, P!NK and Christina
Aguliera.

-- Advertising: Activate partnered with AdForce and Engage to
expand streaming advertising, developing live and on-demand ad
insertion solutions.

About Activate

Activate is a leading digital media infrastructure services company.
Activate's services include: event Webcasting for business communications and
consumer live events, live 24x7 Webcasting for radio, TV and Internet-only
programming, and on-demand Webcasting of audio and video content to enhance
any Web site. Major clients include Microsoft, Dell, Unocal, AIMR,
Rivals.com, National Public Radio, and CTV Sportsnet.com. Activate received
the Blue Ribbon award from Network World's Streaming Media Review and has
been named by Computerworld as one of the top 100 emerging companies to watch
in 2001. A majority owned operating company of CMGI, Inc., Activate is based
in Seattle with offices in New York, San Francisco and Toronto. For more
information about the company or its services, please visit www.activate.net
or call 206/830-5300.

CONTACT: Activate Brooke Davis, 206/830-5716 brooked@activate.net or The
Weber Group Rachel Dressler, 503/552-3742 rdressler@webergroup.com
07:01 EST DECEMBER 12, 2000

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

Enron Sheds No Light on Consumer
DARRYL D'MONTE

12/12/2000
The Times of India
Copyright (C) 2000 The Times of India; Source: World Reporter (TM)

BY any reckoning, the ongoing controversy over the price of electricity
produced by the US multinational, Enron, in Maharashtra, demonstrates how the
power elite in this country has been guilty of waiving all normal checks and
balances in its haste to favour this single producer. Indeed, as Abhay Mehta,
the author of the incisive expose of the project titled Power Play says,
there is little point berating the American company for taking us for a ride
when politicians from parties across the spectrum and a galaxy of bureaucrats
and public agencies vied with each other in rolling out the red carpet.
Maharashtra energy minister Padamsinh Patil has now contradicted his
coalition chief minister's assurance that the second phase of the project
would be reviewed. This is not the customary double-talk of politicians but
the tacit acknowledgement that Mr Patil's National Congress Party mentor
Sharad Pawar was responsible as chief minister for pushing through Enron's
first phase despite countless objections to what is simply the biggest
purchase contract in India's history and one of the largest in the world. In
1993, Mr Pawar went on record that issues such as the import of fuel, total
foreign exchange outgo and presumably the power tariff were minor issues to
be clarified and that the Foreign Investment Promotion Board would take a
decision on them at the time of final review.
These are precisely the issues that are coming home to roost. With the
built-in escalation clauses in the infamous power purchase agreement, which
permits increases in tariffs with a hike in the dollar exchange rate among
other factors, the price of power is now over Rs 7 per unit and it is certain
to rise further. This will impose a crippling burden on consumers not only
householders but, ironically enough, industries, negating the very economic
growth that private producers like Enron were supposed to foster. When Mr
Pawar capitulated to virtually every demand of the US company, the capital
cost was already over twice that of comparable projects elsewhere in the
world.
Although Enron is often described as one of the world's leading power
companies, it is mainly engaged in distributing gas. In 1993, only one per
cent of its revenue was earned on producing power. Its use of imported
liquefied natural gas as fuel for the Dabhol plant was some four times more
expensive than coal, of which India has an abundance. The World Bank, itself
an ardent votary of privatisation, criticised the project on several grounds.
Since it would amount to one-fifth of the Maharashtra State Electricity
Board's capacity, it was likely to have an adverse financial impact, the Bank
stated. Consumers would not be willing to pay such a high price and it
concluded, on economic grounds, that the project was not viable. The Central
Electricity Authority (CEA) also pointed out that the project departed from
the norm, especially in denominating prices in US dollars. However, Mr Pawar
decided to bypass the CEA and overcome the objections of the World Bank and
others.
At the time, the opposition parties in Maharashtra, the BJP and Shiv Sena,
accused Mr Pawar of corruption in shepherding the project through. Mr
Gopinath Munde of the BJP made his famous boast that they would throw the
project in the Arabian sea. When they came to power in 1995, they appointed a
committee to examine whether the project served the state's interests. The
committee accused the previous government of committing a grave impropriety
under circumstances which made the Enron/MSEB arrangement on Dabhol lack
transparency. It came to the irresistible conclusion that several unseen
factors and forces seem to have worked to get Enron what it wanted. On this
basis, the state government cancelled the first and second phases.
The cancellation raised several protests. Manmohan Singh claimed that it
could not be done. Then US ambassador Frank Wisner warned of the consequences
(he joined Enron as a director the very day after he finished his stint in
India). However, the redoubtable Rebecca Mark of Enron flew down to meet Bal
Thackeray, the self-proclaimed remote control of the BJP-SS coalition, for a
second time. On this occasion, she must have used her considerable persuasive
powers to convince the Sena leader to backtrack on the cancellation and the
government announced renegotiations.
The total payments to Enron under the new agreement was a staggering $35
billion over the project's lifetime and in a blatant misrepresentation, the
government claimed it had lowered the tariff. The final straw was in May 1996
when Mr Vajpayee's 13-day minority government ratified the Centre's
counter-guarantee to Enron on its very last day in office. When the CITU and
Abhay Mehta filed a public interest petition in the Mumbai high court against
the project, the arguments given by Enron's lawyers and those representing
the government were tendentious to the point of being farcical. Chief
minister Manohar Joshi filed an affidavit to make out that his government's
earlier allegations of fraud were made on the basis of newspaper reports.
Enron got its way and the project went on stream.
Even granting that several states were bending over backwards to attract
foreign investment in the early nineties, the concessions which were extended
to Enron were not merely extravagant but unconstitutional. The financial and
legal guarantees committed the Indian state in a manner which no
self-respecting country would endure. Much of the political-bureaucratic
class connived at this subversion of the rule of law. The power purchase
agreement in particular violated the Electricity Supply Act. The Maharashtra
government's finance department had admitted in 1994 that if the central
government paid the company any sums by way of its guarantee, these would be
deducted from the state's RBI account.
It is this unconstitutional agreement which ought to serve as the basis for
questioning the entire Enron agreement in court. It is obvious that it is
against the public interest and it could conceivably be demonstrated that the
power elite has acted in its own interest and against that of the Indian
people. There is already a precedent in Pakistan where a power purchase
agreement with Enron which had a substantially lower cost per MW than
Dabhol's was cancelled. Two MoUs which the Karnataka government signed with
another US power company, Cogentrix, were also terminated.

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

Enron deal can be nullified: Retd SC judge

12/12/2000
The Times of India
Copyright (C) 2000 The Times of India; Source: World Reporter (TM)

MUMBAI: Retired high court judge Hosbet Suresh has stated that the agreement
signed between the Maharashtra State Electricity Board (MSEB) and the Dabhol
Power Company (DPC), a subsidiary of US-based Enron, can be nullified. The
DPC spokesperson was not available for comment.
The state government would be within its rights to cancel the 1993 Power
Purchase Agreement on grounds of protection of public interest, he said.
``The power that the Enron plant produces is twice as expensive as its
nearest competitor and seven times as expensive as the cheapest electricity
available in Maharashtra. The fixed charges, whether MSEB buys electricity or
not, alone works out to Rs 1,000 crore a year for Phase I and nearly twice
the amount for Phase II and the amount is to be paid for the next 40 years !
What public interest does it serve ?'' Mr Suresh asked in his opinion given
to the Enron Virodhi Andolan.
The implications of this agreement is to ``exploit'' the people, he said in
his five-page statement, adding that ``the government has an obligation to
end such exploitation''.
Questioning the erstwhile Shiv Sena-BJP government's decision to withdraw the
court case against the DPC, Mr Suresh sought to bring forth the
inconsistencies during the alliance rule. The Sena-BJP had challenged the PPA
declaring it as a ``fraud'' as it was not in keeping with public policy,
consumer interest and interest of the state. ``This suit was withdrawn
without any of the contentious issues on law and on facts being decided. The
government renegotiated without complying any of the requirements under the
law,'' Mr Suresh observed.
``The concealment of relevant facts from the public, the unsatisfactory
explanation for withdrawing the suit .... all lead to one thing namely that
the government at no time had any regard for public welfare...,'' he said.
Mr Suresh also pointed out to the earlier petition filed by BJP leader Ramdas
Nayak who had challenged the contract to Enron as it was awarded without the
process of competitive bidding. Mr Nayak's petition, however, was dismissed
on August 19, 1994 and all subsequent petitions which sought to challenge the
PPA were also given similar treatment, he said, adding ``without the courts
going into he validity of the agreement''.
``Electricity is not a matter of commerce. It is a necessity like light,
water and air. There can be no monopoly in this. If someone wants to trade on
these elements, he may do so provided he does not exploit the people,'' Mr
Suresh said.

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

Green Mountain Applies To Be 10th Texas Elec Supplier

12/11/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- Green Mountain Energy Co. said Monday it has filed an
application with the Texas Public Utility Commission to become a retail
electric provider when Texas launches retail electric competition Jan. 1,
2002.
At least nine other companies also have filed applications, but Green
Mountain said it is the first energy company to apply for a Texas license to
sell renewable power, such as wind, sun or hydropower.
"We are looking forward to the prospects of doing business in Texas, and we
are excited to see regulatory rules being put in place to promote
competition, creativity and innovation in the marketplace," said Gillan
Taddune, Green Mountain's Texas regional manager.
The PUC has approved one REP application from a large industrial company, but
the Dallas-based firm, TXI Power Co., only wants to buy electricity to supply
its own plants.
Other non-utility companies that have filed applications to be certified as
Texas retail electric providers, or REPs, include: Sempra Energy Solutions, a
unit of Sempra Energy (SRE); Enron Energy Services and Enron Power Marketing,
both units of Enron Corp., (ENE); New Power Co., formed this year by Enron,
International Business Machines (IBM) and America Online Inc. (AOL); and
Shell Energy Services Co., a unit of Royal Dutch/Shell Group (RD).
Affiliates of existing Texas utilities have also filed to become REPs.
First Choice Power, a subsidiary of TNP Enterprises Inc. has filed. TXU Corp.
(TXU), the state's largest investor-owned utility and Reliant Energy (REI),
the second largest, also recently filed two applications to create two REPs,
one to sell power to large commercial and industrial customers and one to
sell power to smaller customers.
More companies are expected to begin the certification process in Texas
before the end of the year as market rules are finalized. Independent
suppliers watching the Texas market include: AES NewEnergy Inc., a unit of
AES Corp. (AES); and Exelon Energy (EXC).
To be certified, an entity must hold an investment grade credit rating, have
$50 million of net worth or have cash resources of $100,000.
REPs will be subject to PUC enforcement actions, including penalties,
suspension and revocation for violations.
A pilot program involving 5% of the state's power customers will begin in
June. -By Eileen O'Grady, Dow Jones Newswires; 713-547-9213;
eileen.ogrady@dowjones.com

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

The New Power Company Certified As A Retail Natural Gas Marketer In Georgia

12/11/2000
PR Newswire
(Copyright (c) 2000, PR Newswire)

PURCHASE, N.Y., Dec. 11 /PRNewswire/ -- TNPC, Inc. (NYSE: NPW), parent of The
New Power Company, the first national residential and small business energy
provider, today announced it had received its certificate as a retail Natural
Gas Marketer from the Georgia Public Service Commission. The New Power
Company will begin to serve natural gas consumers in Georgia in 2001.
The New Power Company was formed by Enron, the largest trader and marketer of
electricity and natural gas in North America. In June, the Company acquired
approximately 300,000 natural gas and electricity accounts in eight states
from the Columbia Energy Group, which includes approximately 83,000 natural
gas customers in Georgia - roughly 6 percent of the market.
The New Power Company began acquiring electricity customers in select utility
markets in Pennsylvania and New Jersey in October 2000. In addition, the
Company has been awarded 299,000 electricity customers by PECO Energy Company
under its "Competitive Default Service" program.
About TNPC, Inc.
TNPC, Inc. (NYSE: NPW), through its subsidiary, The New Power Company, is the
first national provider of electricity and natural gas to residential and
small commercial customers in the United States. The Company offers consumers
in restructured retail energy markets competitive energy prices, flexible
payment and pricing choices, improved customer service, and other innovative
products, services and incentives.

/CONTACT: Investors - June Filingeri, Vice President, Investor Relations,
Jfilinge@newpower.com, 914-697-2431, or Media - Gael Doar, Director of
Communications, gdoar@newpower.com, 914-697-2451, both of TNPC, Inc./ 17:29
EST

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

USA: Big names dominate in Internet energy trading race.
By Gelu Sulugiuc

12/11/2000
Reuters English News Service
(C) Reuters Limited 2000.

NEW YORK, Dec 11 (Reuters) - All bar the biggest of the much-heralded online
energy exchanges are struggling to generate liquidity as the oil community
sticks with tried and trusted trading habits, analysts and traders said.
While most of the 30 online energy exchanges that have sprung up over the
last year keep liquidity figures close to their chest, analysts say that the
big names - IntercontinentalExchange (ICE) and EnronOnline - are pulling
clear.
"You can juice up numbers any way you want, but the one that's succeeding
today is ICE," said Peter Fusaro, president of energy e-commerce consultants
firm Global Change Associates. "The others are floundering because they have
no liquidity."
ICE which enjoys the backing of such industry heavyweights as BP, Royal
Dutch/Shell and TotalFinaElf, traded a total of 200 million barrels of crude
and products in the month after it began operating in October.
Like all the new energy platforms - which mainly host "over-the-counter"
contracts traded outside regulated exchanges, - this is dwarfed by volumes
posted on the New York Mercantile Exchange (NYMEX).
Volumes on Friday alone on NYMEX crude for January delivery reached almost 40
million barrels of crude oil and almost 25 million barrels of heating oil.
Smaller online exchanges such as RedMeteor.com and HoustonStreet Exchange
hosted online trades of just 3.5 million barrels and 2.5 million barrels
respectively of heating oil in the entire month of October, industry sources
said.
TIED TO TRADITION
Oil volumes have taken time to pick up because many traders are reluctant to
give up brokers and switch to the internet, afraid of making costly mistakes
trading online.
"There are brokers that have been around for a long time and have established
personal and business relationships with traders," said Tom Knight, an
independent online trading consultant.
Oil's recent dizzying price volatility has also deterred traders from using
online exchanges, fearing that a swift market move could turn a profitable
Web trade into a ruinous one in a matter of minutes.
"You can't take your trade off (the online exchange) fast enough," a trader
who uses EnronOnline and Altra said.
Old habits dying hard in the oil community means the younger markets of
natural gas and power hold the key to the new platforms' liquidity growth.
Leading the way is EnronOnline, which boasts an average daily volume of $10.5
billion and 35,000 transactions in more than 30 commodities, smashing initial
targets of a $30-$40 billion yearly trading volume.
Main competitor Dynegydirect has posted a total transaction volume of only
$1.5 billion since it began trading Nov. 1.
Traders and analysts said that EnronOnline is already becoming so big that it
can set the tone for the natural gas cash market by itself.
"On the ICE, players don't want to make a better offer than Enron," a trader
said. "The only thing that's still not swayed by Enron numbers is NYMEX."
THREE MODELS
Among three competing business models, Dynegydirect and EnronOnline provide a
market where players can only trade with the company that operates the site.
Other platforms, like ICE, act like an intermediary, but provide only
financial products such as swaps and options.
A third group that includes RedMeteor.com, Altra and HoustonStreet focuses on
physical markets and acts as a clearinghouse for oil, natural gas and
electricity trading.
Despite the slow start for some sites, analysts agree that more energy
trading will migrate online as commission costs go down.
Knight predicted that within five years more than 50 percent of crude and
refined products trading will be done online, with gas and power shifting to
the Web even faster.
Yet only a few Web exchanges will enjoy the windfall. Analysts forecast that
a wave of mergers and consolidations will leave only a small number of
profitable online exchanges.
NYMEX hopes its own online exchange, enymex, will be part of that group, but
it will face stiff competition when it finally launches in the second quarter
of 2001.
"It will be difficult for enymex to compete six months for now with ICE and
EnronOnline," Fusaro said.

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

Dynegy's New E-Commerce Site Had $1.5 Bln in November Trading
12/11/0 17:37 (New York)

Dynegy's New E-Commerce Site Had $1.5 Bln in November Trading

     Houston, Dec. 11 (Bloomberg) -- Dynegy Inc., a U.S.
electricity and natural-gas trader, said its Internet trading
site, Dynegydirect, had more than $1.5 billion in transactions in
in November, its first month of business.
     More than $1 billion of the business came from new customers,
Dynegy spokesman Steve Stengel said. Dynegydirect's customers
trade exclusively with Dynegy, not with each other. The Web site
has more than 400 companies buying and selling North American
power, natural gas and natural gas liquids.
     Dynegydirect plans to start trading coal, emission allowances
and weather derivatives in the first quarter. International energy
products and bandwidth are scheduled to be added in the second
quarter.
     Shares of Houston-based Dynegy rose $4.19 to $53.75.
     EnronOnline, the 1-year-old on-line market owned by Enron
Corp., the world's biggest energy trader, trades about $2.4
billion a day, or about $12 billion a week.
     IntercontinentalExchange, an Internet market for energy and
precious metals backed by 85 energy and financial companies,
traded about $6 billion in oil, natural-gas and electricity in its
first week in mid October.
     ICE brings buyers and sellers together to negotiate trades.
On EnronOnline, only Enron trades with other companies.
     Bloomberg LP, the parent of Bloomberg News, competes with ICE
and others with its PowerMatch trading system.

--Margot Habiby in Dallas, (214) 740-0873 or
mhabiby@bloomberg


P-Love
Bledsoe 31
Matt Stover 26
Panthers D 6
49ers D 3
Seahawks D 3


Have you had a chance to reivew the confirm?  Please advise.

Thanks!!

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


We are making some progress with the timeliness of London information.  More
to come...
---------------------- Forwarded by Sally Beck/HOU/ECT on 12/27/2000 10:27 AM
---------------------------

Chris Abel
12/18/2000 01:10 PM
To: James New/LON/ECT@ECT
cc: Sally Beck/HOU/ECT@ECT, Shona Wilson/NA/Enron@Enron, Mike
Jordan/LON/ECT@ECT, Michael Benien/Corp/Enron@ENRON, Kenneth
Thibodeaux/NA/Enron@ENRON
Subject: Re: London flash P&L

I appreciate the flash P&L that you are now providing.  That should help
everyone get an early morning picture of what is going on in London.  Have
you had an opportunity to address the need for European VaR numbers at the
same time in the morning?

James New
12/18/2000 01:07 AM
To: Sally Beck/HOU/ECT@ECT, shona wilson, Chris Abel/HOU/ECT@ECT
cc: Mike Jordan/LON/ECT@ECT
Subject: London flash P&L

We in London shall be producing a flash P&L from today Monday the 18th of
December. This will be sent to Shona's group at 1pm London time which
Ibelieve is in good time for the P&L consolidation group.

Any queries please let me know.

James


Check this out. http://www.eonline.com/Gossip/Fashion/Archive2002/020130.html


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/21/2000
09:46 PM ---------------------------

Scott Adams <dilbertnewsletter@unitedmedia.com> on 02/18/2000 04:33:02 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Dilbert Newsletter 29.0

Dilbert Newsletter 29.0
------------------------

To:     Dogbert's New Ruling Class (DNRC)
From:   Scott Adams (scottadams@aol.com)
Date:   February 2000

   Highlights:
  ------------------------------------------------
  - Stop the Vote Campaign
  - Dilbert TV Show Update
  - True Tales of Induhviduals
  - Dogbert Answers My Mail
  - Dilberitos
  ------------------------------------------------

Stop the Vote Campaign
----------------------

It's a presidential election year in the United States, and that
means it's time for me to "get involved."

This year I'm organizing a "Stop The Vote" campaign aimed at
preventing Induhviduals from casting ballots.  I'll borrow a
strategy used by all politicians: hallucinations of what the
Founding Fathers intended.

As you know, people were very wise in the 1700s. Unfortunately,
something happened that made us all idiots.  I blame television.
That's why we prefer to make our important decisions on personal
freedom based on the wisdom of dead, slave-owning dandies instead
of using our own defective brains.

We have no recordings of the Constitutional debates, but I'm sure
it went something like this:

---- Re-creation ----

Jefferson:  We haven't put anything in the Bill of Rights about
genetic manipulation, Internet encryption, in vitro fertilization,
or mandatory drug testing.

Adams: Just say "et cetera."  No one is going to read it anyway.

Hancock: Let's include something to encourage public nudity.  Cable
TV won't be invented for years and I can't wait that long.

Jefferson:  Okay.  I'll call that the right to bare arms.

Franklin:  That might be misinterpreted.

Jefferson:  Who's the world-class writer here?  I keep your stupid
Almanac next to my chamber pot, and I don't mean for the reading.

Franklin:  I am soooo sorry for making a suggestion.  By the way,
your house slave "Jeff" has your eyes.

All:  HA HA HA HA HA HA!!!

Adams:  You're all a bunch of asses.  I think you're giving me an
embolism.

Jefferson:  You have the right to ass-embolisms.  Hey, maybe I
should include that.  How do you spell it?

Dilbert TV Show Update
----------------------

According to my e-mail, many Dilbert TV fans tape the show so they
have permanent copies in their tape libraries.  While Dilbert is
being taped, they watch other shows that are not tape-worthy.
Unfortunately, only live viewing of TV shows counts for ratings.
This isn't a problem for some TV shows, like "Wheel of Fortune,"
because their viewers use VCRs to crack nuts.  But the mathematical
sets of "people who can program VCRs" and "people most likely to
watch 'Dilbert'" are almost the same.  This has been a problem.

The episode airing February 22nd (9:30 PM EST) in the USA will
probably determine whether the Dilbert show gets renewed.  That's
the episode featuring Jerry Seinfeld as the voice of Comp-U-Comp,
an evil computer who has taken over a company and fired everyone
except the guy who guards the electrical plug.  Eugene Levy plays
the plug guard.

Jerry's lines are mostly written by Larry Charles, one of the
original writers for Seinfeld, now Executive Producer for Dilbert.
So if you liked Seinfeld, this is the closest thing you're going to
get.

And if you know any Induhviduals who are in Nielsen families this
month, please tell them that there's some sort of "millionaire
prize" for watching "Dilbert" and answering questions posed by the
voices in their own heads.

Dilbert Episode Airs On the Internet
------------------------------------

As part of our overall pimping for the Seinfeld voice episode,
we're putting an entire show (The Merger episode) on the Internet
in streaming video, starting February 17th and running through
February 29th.  You can find links to it at
www.dilbertondemand.com.  You need the Windows Media Player, which
you can download from the site.

As far as we know, this is the first television cartoon show
streamed over the Internet in its entirety.  We made sure we didn't
research that fact too thoroughly so we could honestly say, "as far
as we know."

You'll need a reasonably fast connection, but you can view the
entire show, in bite-sized chunks, at your leisure.  Don't settle
for mere bragging about your DSL or cable modem connection;
DEMONSTRATE your digital superiority!  Invite a neighbor who has a
pitiful 28.8 modem over to drool on you.  If you wear a raincoat,
it's a strangely satisfying experience and you can hose it off
later.

If you know anyone recently involved in a merger, the Dilbert
episode on the Internet (The Merger) is the one they'll want to
see.  Find out what's in store for companies who seek "synergy."

True Tales of Induhviduals
--------------------------

I begin the True Tales section with a personal sighting.  I
recently came upon a local road that was closed for improvements.
Signs warned "Road Closed" and "Bridge Out."  As I turned around to
head for the detour, another motorist waved me down.  We rolled
down our windows and he shouted, "Do you think we should just move
the barricades and go for it?"

I don't know how fast one must drive in order to compensate for a
"Bridge Out" situation, but I decided not to try it.

True Tale 2
-----------

Some of our corporate policies have been rewritten.  Here's an
example from our expense reporting procedures.

"Receipts are required for all expenditures of $25 or more and, in
addition to this, receipts for a lesser amount are also required."

Editor's note: It sounds as if some of the people in the HR are
idiots and, in addition to this, the rest of them are too.

True Tale 3
-----------

We received a letter from the Environmental Protection Agency
stating that unless we provided answers to their outstanding
questions within two weeks they would recommend that our power
plant construction project not proceed.

Apparently they failed to notice that, a) we already answered the
questions, b) their approval had already been issued and, c) the
$600 million power plant had been built nearly two years ago.

Editor's note: If those are the sort of questions the EPA calls
"outstanding" I'd hate to hear their dumb ones.

True Tale 4
-----------

We had a Christmas raffle in the "Business Intelligence"
department.   The boss drew a number and called it out.   The
department statistician stood up to tumultuous applause and went up
to collect his prize.  Meanwhile, another employee -- who turned
out to be the real winner -- stood up to collect that same prize.
Upon investigation, the statistician for Business Intelligence had
confused ticket 593 for 539.

Editor's note: On the surface it looks as if the statistician is a
boob.  But he's the only one in the room who realized that 39% of
the time the real winner isn't present to win.  I suspect he's a
DNRC member just playing the odds.

True Tale 5
-----------

When a project is finished in my department we place a red dot
sticker on the folder to signify its completion.  One day we ran
out of red dots but still had a large supply of green and blue
dots.  Dots weren't used for any other purpose so I suggested using
the ones we have, despite their non-red color.  Color was
insignificant.  There were only five of us in the group, so
communicating the change would be easy.

My money-saving suggestion was met with resistance from cow-orkers.
 They pointed out that we've "always used RED dots" and maybe I
should check with the department manager.  I mentioned my idea to
the manager and he said I should "bring it up at the next staff
meeting."

Editor's note: Ironically, it's not a dot.com company.

True Tale 6
-----------

I paid for lunch with a credit card.  The manager put it through
the electronic card machine and got a "no dial tone" error.  She
tried again with the same result.  Then she asked me if I had
another card.

Editor's note:  That's exactly why you should pay for your lunch
using a phone company calling card.  They have dial tone.

True Tale 7
-----------

We tested our Y2K power contingency plans a few weeks before New
Year's.  The Induhviduals in IT didn't expect any downtime, so the
test was performed during the normal work day.  The idea was that
when power was cut, the six generators would kick on and we
wouldn't notice a thing.

Three generators failed to start. Two threw their breakers due to
the high load on them.  The last was overwhelmed when the previous
two cut out and threw a tremendous surge through the lines, blowing
up hundreds of light bulbs, frying fax machines, radios and pencil
sharpeners along the way.   The surge jumped circuits in our
industrial level surge protector and traveled through our "surge
protected" lines to every desktop in the company plus the server
room.  After taking out over a hundred monitors and almost forty
PCs, the surge proceeded to destroy our server room air
conditioner, four huge UPS systems, thirteen servers and both
AS/400s.  Several small fires started throughout the building,
including our now half-melted Christmas tree and our
molten-menorah.

The surge then jumped the lines into the main power grid, blowing
up two transformers, one of which fell on the IT manager's car
(poetic justice) and cutting power on the entire block.  The
remaining generator then proceeded to burst into flames, eventually
blowing up all six generators and burning up seven cars.

This all occurred within about thirty seconds and sent 38 people to
the hospital, cost the company over $650,000 in equipment (not to
mention the impending lawsuits), destroyed eight cars and caused
weeks of downtime.  Three people quit the company.  One woman is
still in the hospital with electrical burns.  The resulting
publicity got us on television in five states.

Editor's note: That story sounds too amazing to be true but I'm
printing it anyway under the theory that there's no such thing as
bad publicity.

True Tale 8
-----------

Our university library just got new computers. The library
thoughtfully provided headphones so students can listen to sound
files without disturbing anyone nearby.   The problem is the
headphone cords have been clamped to the desk in such a way that in
order to use them, you must have your head no more than six inches
from your keyboard. It is great fun to see the stu-duh-nts trying
to use them.

True Tale 9
-----------

I went to a Georgia DMV office to obtain a driver's license.
Customers are required to produce two pieces of ID.  I presented a
utility bill and a copy of my latest tax return, both acceptable
types of ID according to their published list.

The agent behind the counter said she could not accept my tax
return as ID because it was typed.  She said, "How do we know this
is legitimate?  Anyone can get a computer or typewriter to produce
this return."  I argued, unsuccessfully, that it was also easy to
obtain pens and pencils to create hand-written returns.  I was told
to come back with a hand-written return or another acceptable form
of ID.

True Tale 10
------------

I went to a fast-food restaurant one morning for breakfast.  The
moment I opened the door, I was almost swept off my feet by an
overpowering odor of gas.  I struggled up to the counter out of a
vague sense of duty, and said  "You've got an enormous gas leak
back there somewhere!" gesturing towards the kitchen.

The girl behind the counter shrugged and said, "Yeah, I know, but
I've been here since seven o'clock and I've gotten used to it."

True Tale 11
------------

I went to ask our new principal if we could have the Monday before
finals off as a study day.  We had always gotten a study day in the
past but it wasn't on the schedule this time.  He thought for a
second and then responded, "No, you have school that day."

True Tale 12
------------

About a year ago I went to buy a video for a friend's birthday.
The video was rated for adult viewing only.   I was 15 years old,
but they sold it to me anyway.

When I got home I found out that my friend wanted the sequel, not
the original, so I took it back to the store.  The video clerk said
he couldn't return the video because I didn't look 18.

I was confused, so I attempted to clarify.  "So, because I don't
look 18 you're going to MAKE me take this ADULT-rated video, rather
then let me change it for the sequel that is NOT ADULT-rated?"

"Yeah, it's company policy.  If it changes we'll be in touch."

Eventually I convinced him he was breaking the law by selling me
the adult video instead of letting me exchange it for the non-adult
one.   As I left, the guy behind the counter yelled at me, "Next
time, don't watch the video first!"

It was still in its shrink-wrap.

Dogbert Answers My Mail
-----------------------

In this section, Dogbert answers my mail.  These are based on real
e-mail to me.  Some names have been changed to make them easier to
mock.

Dear Mr. Adams,

You were duped in your last newsletter.   Someone submitted a
supposedly True Tale of Induhviduals about a little boy and a
pager.  That is actually an urban legend more than twenty years
old.  Shame on you for falling for that.

        Jim,

Dear Chimp,

Just because it's an urban legend doesn't mean it didn't happen.
In fact, just this morning Mr. Adams woke up in a bathtub full of
ice and found a note saying one of his kidneys was missing.  It
wasn't stolen; he got talked into donating it to a celebrity
auction for the National Ear Hair Foundation.  I'm working with him
on learning to say no.

        Sincerely,

        Dogbert

----

(Note:  In this next letter, some expletives have been replaced by
asterisks)

Dear Mr. Adams,

Your stupid ******* comic strip is a piece of ****.  Give up
cartooning and **** my ****, you *******  ****-******.

        (Anonymous)

Dear Esophagus,

There is no call for such language.  If you do it again, it will be
your "*."

       Sincerely,

       Dogbert

---

Dear Mr. Adams,

No offense, but no one will cry when you die because Dilbert is
just some goofy guy. Some of the biussness (sic) stuff is HARD to
understand and it isn't something that you can feel like you know.
Dogbert is so egotistical whereas Snoopy is so easy to know, and
Charlie Brown is not some GOOFY guy, if you know what I mean.

      Marshall

Dear Marsupial,

No offense taken. Now if you'll excuse me, I have to get back to
"buissness."

      Sincerely,

      Dogbert

---

Dear Mr. Adams,

What is that round black thing on Dogbert's face?  My friend says
it's his mouth but I say it's his nose.

      Floyd

Dear Flawed,

I get this question often, thanks to Mr. Adams' prodigious artistic
range.  Allow me to clarify some of the shapes in the Dilbert
strip.  In general, the black circles are dog noses.  The black
ovals are mouths.  Rectangles are desks or sometimes computers.
When the ovals are turned the other way and are not filled with
black they are glasses.  Everything else is random.

I have already requested a transfer to "For Better or For Worse."
The dog mortality rate there is high, but I'm willing to take the
chance.

      Sincerely,

      Dogbert

Dilberitos
----------

If you're wondering where to find those delicious and
coincidentally-vegetarian Dilberitos that have 100% of your daily
values of vitamins and minerals, they're in grocery stores now, in
the frozen food section.  Check www.dilberito.com for store
details.

I can't guarantee that eating Dilberitos will help you live long
enough to dance on the graves of all your enemies (an excellent
aerobic exercise), but it's worth a try.

Dilbert Fodder
---------------

What's bugging you about your job?  Let me know and you might see
it in a Dilbert comic, TV show or newsletter.  The best comic
fodder involves workplace peeves, devious strategies, frustrations
of dealing with others, conflicting objectives, unintended
management consequences, and of course my favorite - idiot bosses.

And I love True Tales of Induhviduals.

And if you're seeing any new management trends that need to be
mocked, I can help.  Send your suggestions to me at
scottadams@aol.com.  Short ones are better.

Cubicle Art
-----------

The Dilbert Zone is now accepting submissions of cubicle art: art
made from things you have around the office, or decorated cubes, or
"theme" cubes. Toward the end of March, the best ones will be
posted in the DNRC area at www.dilbert.com. Submissions will only
be accepted by e-mail, and must be in gif or jpg format, 50K or
less. E-mail cubicle art submissions to cubeart@unitedmedia.com.

All submissions will be governed by the terms of use posted at
www.dilbert.com.

Exclusive DNRC-only Offer - while supplies last!
------------------------------------------------

Now through February 27th, take advantage of these special offers:

Spend $10.00 in The Dilbert Store and receive a free Dogbert Tech
Support Mug and a free 25-minute phone card.

Spend $35.00 in The Dilbert Store and receive a free Boss Pen
Holder with Dilbert Pen, a free Tech Support Mug and a free
25-minute phone card.

These DNRC offers will not be announced in the Dilbert Store. To
get them, you need to follow this DNRC-only link:
http://www.umstore.com/dilbert/dnrcspecial.htx

This year's Dilbert calendars are back in stock. Buy yours now
before they're gone for good!

In addition to the DNRC-only offers, enjoy great discounts on the
following products:

Dogbert "You're Next on My List of Things to Ignore" Cap - $7.99
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Character Picture Frame - $8.99
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(Offers are limited to one DNRC bonus per order, but regular
Dilbert Store freebies will be added if the order amount qualifies
for them.)

How to Subscribe to the Dilbert Newsletter
------------------------------------------

You can sign up for the free Dilbert Newsletter
automatically. Send a blank e-mail to
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-------------

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

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Please do not reply to dilbertnewsletter@unitedmedia.com


got message re: july 12.  understand.  trying to change.  chk email for leg
update.  best, jeff


Attached is a memo comparing the CEC's forecasted supply and a more realistic
look at what additional resources might be available this summer.

The bottom line is that:

1.  The CEC significantly underestimates the outages that may occur this
summer.  They estimate in their 5,000 MW supply deficit for the summer that
expected outages will be around 3,000MW.  However, November and December saw
significantly higher outage levels.  (7,265 MWs) The FERC has investigated
these outages and found no improprieties- just that the plants are overtaxed
from running at higher than normal capacities.

2.  There are a lot of uncertainties surrounding the 1,244 MWs of projected
supply from rerating/restarting existing thermal and renewable projects.  It
is very unclear how much of this will be able to come on line by this summer,
if at all.  As evidenced by the e-mail I sent out this morning, local
communities may be very opposed to restarting shut down units.  In addition,
these units are likely to be uneconomical.

3.  In the existing resource pool, there are roughly 1,430 MWs of peaking or
other generation units that are running up against their operating hour
limitations from air quality regulations.  The Governor has ordered the local
air quality districts to address these restrictions,  We are beginning to
seem some movement; however, the US EPA has yet to weigh in on these relaxed
standards.

4.  The distributed generation/back-up generation capacity to make up some of
the shortfall is still an unknown.  While there has been some relaxing of the
limitations on run hours for back-up generation at "essential public
services" the increase in DG is expected from "clean" sources, not diesel
emergency generators.

5.  The CEC is doing everything it can to get 50+ MW peaking units on-line by
this summer.  They are promising a 21-day permit application approval process
and are offering to pay half of the cost of offsets, for "clean" sources of
generation in critical areas.

Please let me know if you have any questions or need additional information.

CEC's Summer Forecasted Peak Demand - Resource Balance:

List of Peakers running into their operating hour limitations:

Also available in hard copy format only:
(please e-mail me your fax number if you'd like a copy)

Table 1:  Fully Executed CA ISO Summer Reliability Agreements (the ISO
Peaking Facilities)
Table 2:  Summer 2001 Supply Options - Renewables Construction Status Summary
Table 3:  Summer 2001 Supply Options - Rerate of Non-CEC Projects
Table 4:  Summer 2001 Supply Options - CEC Rerate Status Summary
Table 5:  Idle Biomass Plants Potentially Capable of Restart
Mary Schoen
Environmental Strategies
Enron Corp
713-345-7422


If you are interested in borrowing a video tape of the PBS Frontline broadcast titled, "Blackout," please see me.  This video features interviews with Ken Lay, Jeff Skilling and other energy industry executives.

Best regards,
Anna

"California's power disaster has made 'energy' a front-burner issue for everyone. Through interviews with state and federal officials, power company executives, and average citizens, the documentary examines whether power companies and energy trading giants have capitalized on deregulation to make tremendous profits even as users suffer power shortages." (60 min.)
-Video Notes


----- Forwarded by Steven J Kean/NA/Enron on 09/26/2000 04:20 PM -----

	"Duncan Kincheloe" <dkincheloe@mpua.org>
	09/26/2000 10:22 AM

		 To: <skean@enron.com>
		 cc:
		 Subject: Fw: Tagging issue at NERC Security Subcommittee tomorrow

Steve,
?
I sent the below to you this morning at an apparently outdated  email
address.? Your secretary was kind enough to update me so I'm  forwarding it
again.
?
Duncan Kincheloe
General Manager and CEO
Missouri Public Utility  Alliance
573-445-3279
Fax 573-445-0680
----- Original Message -----
From: Duncan Kincheloe
To: Steven Kean
Sent: Tuesday, September 26, 2000 10:01 AM
Subject: Tagging issue at NERC Security Subcommittee  tomorrow

Steve,

I haven't been in touch since the DOE  Reliability Task Force and hope this
email address through Elizabeth is still  the way to reach you.?
Incidentally, I was with Sue Tierney at a NARUC  conference yesterday and
we've started a new pool to wager when Congress will  get this issue dealt
with. Want in?

Perhaps you remember that while we  were serving on the Task Force I moved to
EPRI to direct their government  relations.? Last year I moved back to
Missouri to run the municipals' state  joint action agency, which is why I'm
writing.? Part of our activity is  operating a 19 city power pool (MoPEP)
that has a three year supply contract of  up to 40 mWh/hr with Enron.? We've
had some difficulties with delivery  since a change in tagging was made in
June.
?
The issue and a  proposed solution is explained in the attached three page
"bullet statement"  that we've just submitted to the new NERC Security
Subcommittee that meets  tomorrow.? Based on his discussions with NERC staff,
with a Mike Curry with  Enron and other affected utilities, my chief
operating officer for MoPEP is  optimistic about prospects for this
resolution.? I would like to make sure  of Enron's support.? I'm told that
Dick Ingersoll will be at the  subcommittee meeting for Enron, and I know
Dick from SPP meetings when I was on  the Missouri Commission but don't have
contact information on him now.? I'd  be very grateful if you could pass
along a nod of benign interest in  this.

We'd greatly appreciate Enron's support for the  proposed resolution of the
tagging issue at the NERC Subcommittee tomorrow,  mainly because it should
avoid what might otherwise be a messy contract dispute,  at FERC or
elsewhere, between our organizations.? Without getting into the  details, my
understanding of the issue under the energy purchase agreement has  to do
with whether the change in NERC tagging that was required on June 1 (the
date when MoPEP started taking certain control area services from Western
Resources) affects Enron's obligation under the agreement to deliver energy
to  the Associated Electric Cooperative transmission system.? MoPEP's view
is  that Enron's obligations are unaffected, but some at Enron apparently
have had a  different view.? Our belief is that the proposal that will be
presented to  the Security Subcommittee will resolve the tagging matter such
that both Enron  and MoPEP would regard any potential dispute on this issue
as moot.

Sorry  for such short notice, but this resolution and taking it to the
subcommittee  came out of discussions in Atlanta Friday.

Thanks for your consideration,  Steve.? Hope all is well with you.

Duncan Kincheloe
General  Manager and CEO
Missouri Public Utility Alliance
573-445-3279
Fax  573-445-0680
 - MoPEP Tagging.doc


Scott/Stephen, I'm trying to summarize the essence of these performance
guarantees, similiar to what I have for heat rate.  I'm sure I've got
something on output and probably reliability, but can you give me a thumb
nail sketch of what we are looking for on the rest?

10.3.1   Heat Rate Guarantee.  Seller guarantees that the Heat Rate as
measured for each of the Units
as demonstrated during the Performance Test, shall be __BTU/kWh. In the event
the Heat Rate exceeds the Minimum Heat Rate Guarantee, Seller shall take all
necessary actions to correct, retest the deficient Unit and cause the
deficient Unit to meet the Minimum Heat Rate Guarantee.  Failure to meet the
Heat Rate Guarantee shall prevent Acceptance, unless Purchaser explicitly
waives this guarantee in writing.

{we have a definition of heat rate}

10.3.2   Electrical Output Guarantee.

10.3.3   Emissions Guarantee.

10.3.4   Water Consumption Guarantee.

10.3.5 Sound Guarantee.

10.3.6 Reliability.

Thanks,

Kay


Scheduled for Febr. 1 at 2pm.

Location - at a fire station in a Hispanic Community - exact location will be
forwarded shortly but estimated distance from ENE office = less than 15 min.

Expect News Conference to last a total of 30 minutes, including Q&A. Jeff
Skilling will be spokesperson for Selection Committee. However, we will try
to have as many committee members present as possible.

Mayor will likely discuss (estimated time = 10 min.):
 - changes that are required at HFD - potential need to bring in an outsider,
etc...
 - reasoning behind involvement of Enron/Jeff Skilling & formation of
selection committee - de-politicize the process, etc...

JS should speak about the following (estimated time = 10-15 min.):
 - how he became involved in the process
 - how the committee members were selected
 - who the members are with a brief background on each (We plan to provide a
bio on each of the committee members as part of the press release)
 - time line for Fire Chief selection

Q&A (estimated time = 5-10 min.)
 - expect questions along the lines of: Are the meetings going to be open or
closed?, Outsider vs. Insider related questions...

Please let me know if you have any questions/comments/issues with the above.
I'll coordinate collection of Bios from Committee members. Anything else I
can do to help out here?

Lisa


i got 6 tickets to the concert.  they are club level seats and should be
pretty good.  we still need two and i can work on those b/t now and the
concert.


Margaret-

I'll get the cookies on Friday.  Can you pick them up Friday night or
Saturday?  I'll need payment for the 6 boxes then, as well as your money for
the first order.

Thanks,

Susan

MPierce446@aol.com on 03/06/2001 11:57:26 PM
To: spereir@ect.enron.com
cc:
Subject: (no subject)

Dear Susan,

Could I please order six more shortbreads?

Thanks,
Margaret Pierce


fyi
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/11/2000 03:53
PM ---------------------------

lee.johnson@ss.ps.ge.com on 12/11/2000 03:47:02 PM
To: Kay.Mann@enron.com, michael.storm@ss.ps.ge.com
cc: Ed.Dannhaus@enron.com, mtezyk@enron.com, lee.johnson@ss.ps.ge.com,
Ben.Jacoby@enron.com, Alan.Larsen@enron.com, Lisa.Bills@enron.com,
Roseann.Engeldorf@enron.com

Subject: RE: CO#6 for Fountain Valley

Kay,

I took a whack at redlining for CO#1 Fountain Valley Agreement.  You'll need
to do some touch-ups, I believe.

Let me know what other changes will be necessary.

Thanks,

Lee

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, December 11, 2000 3:37 PM
To: michael.storm@ss.ps.ge.com
Cc: Ed.Dannhaus@enron.com; mtezyk@enron.com; lee.johnson@ss.ps.ge.com;
Ben.Jacoby@enron.com; Alan.Larsen@enron.com; Lisa.Bills@enron.com;
Roseann.Engeldorf@enron.com
Subject: Re: CO#6 for Fountain Valley

Gentlemen,

Since we are moving the equipment from WestLB and into TurboPark, and since
we are just about there with the breakout contracts, we need to process
this as change order #1 to the Fountain Valley contract.  I also believe we
need the site specific stuff for this project.

Kay

michael.storm@ss.ps.ge.com on 12/11/2000 03:17:27 PM

To:   Kay.Mann@enron.com, Ed.Dannhaus@enron.com, mtezyk@enron.com
cc:   lee.johnson@ss.ps.ge.com

Subject:  CO#6 for Fountain Valley

All,

Attachment contains latest revision reflecting order for two additional
stacks, six power stabilizers and moving cost for the Fountain Valley
Project.  Please review and let me know if additional changes are required
or recommended.

 <<changeorder#6rev2.doc>>
Please note new contact information below:

Mike Storm

          g              GE Aero Energy Products
          ___________________________________
                    A GE Power Systems Business
          Michael E. Storm
          Projects
          Phone: (281) 864-2601  Dial Com 8*326-2601
          Fax:  (281) 864-2116, Pager 888 487 5741

(See attached file: changeorder#6rev2.doc)

 - PSCO_changeorder#1_121100.doc


Attached is the list that Marie had prepared for me just last week (the date
at the top is incorrect) which is a good start.  We will still need a
detailed description of the brokerage agreement process.  Sara


Daren:
Please enter the demand charge on deal 384258 for the May 2001 Tenaska IV sale.  Mike Olsen's spreadsheet has $2,069,556.32.  I already have the agency fee on deal 514353.

Thanks,
Megan
---------------------- Forwarded by Megan Parker/Corp/Enron on 06/05/2001 11:55 AM ---------------------------
From:	Michael Olsen/ENRON@enronXgate on 06/05/2001 11:42 AM
To:	Megan Parker/Corp/Enron@ENRON
cc:

Subject:	Cornhusker


Elizabeth,

Can you please direct me to someone to assist us in making an offer to a
young lady we just interviewed?  We would like to bring her in as a summer
intern the same way that we brought in James Bradley Aimone.

She will be reporting to Stinson Gibner and I believe she is available right
away.

I am attaching her resume.

Thanks for your help.


approved.

 -----Original Message-----
From: 	Lee, Dennis
Sent:	Tuesday, January 29, 2002 8:34 AM
To:	Bodnar, Michael; Buehler, Craig; Cherry, Paul; Dasilva, Esther; Donoho, Lindy; Frazier, Perry; Lee, Dennis; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; Sheffield, Sandy; White, Angela
Subject:	Credit request PG&E Energy Trading-Gas Corp

Credit Approval Requested:

Request Submitted to CAS for approval.

Shipper :		PG&E Energy Trading-Gas Corp
Contract # :		27819
Service Type :	New FT
MDQ:			20,000 Dth/d
Rate:			$ 0.205
Term:			February 1, 2002 thru October 31, 2002

Dennis P. Lee
ETS
Gas Logistics
(713) 853-1715
dennis.lee@enron.com


I thought of another item to add to the list:

Cruising World 2002 wall calendar -- available on Amazon.com for 11.95

Mark Taylor
Vice President and General Counsel
Enron Wholesale Services
1400 Smith Street - EB3892
Houston, Texas 77008
(713)853-7459
(713)646-3490 (fax)


Bruno,

Julie Gomez relayed your concern regarding the last sentence of Article II, Section 2(a).  I have revised the sentence as you requested.  Please forward 2 executed copies of the LOI to Julie, whereupon she  will sign and return you a fully executed version.

Thanks for your assistance. Looking forward to working with you on this matter.

Steve Van Hooser


Hey Tim,

For May 12, our supply shows that 8.000 did flow even though you cut flow to
6.0.  Let me know how you want to handle the situation. Sorry for the
inconvenience.

Ami


You may also be the only person to get to the end of my email.... Are
you
going on "the boat trip?"  PD

>>> Elizabeth.Sager@enron.com Wednesday, April 11, 2001 >>>

for you, anything - I accept


ian -  do you by chance have emily's (from earls) email address?  she gave it to hawker and he lost it.  no prob if you don't.


Here's our internal best estimate of new generation coming on line in the
west in the near future:

;

;


Sunday morning we will experience the first time zone change of the year.
The time change is shown below (note NO HE 3 PST).  This means that we will
now be on the same time as El Paso.  Cheers.


here you go,

tell me what you think.

i spent a lot of time on this


Attached is PIRA's latest "Electricity Daily Demand Forecast."

If you have any questions regarding the report's content, please contact
Morris Greenberg (email: morris@pira.com) or Victoria Watkins (email:
vwatkins@pira.com), at (212) 686-6808.

Contact John Graziano regarding PIRA report distribution and address changes
at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Electricity Daily Demand Forecast" outside a
Client's licensed distribution area is strictly prohibited. Clients that are
unsure of their licensed distribution or require an extension of their
current license should contact their PIRA sales representative, or email to
sales@pira.com.

PIRA Energy Group

 - ed051101.pdf
 - ed051101.xls


-----Original Message-----
From: 	CustomerNotices, WGPHOU [mailto:WGPHOU.CustomerNotices@Williams.com]
Sent:	Monday, December 31, 2001 9:58 AM
Subject:	Market Area IT Availability - January 2, 2002

December 31, 2001

To:	Transcontinental Gas Pipe Line Corporation Customers
	and Shippers

Re:	Market Area IT Availability - January 2, 2002

The available interruptible transportation service (IT and
secondary FT) on Transco for pipeline day Wednesday, January
2, 2002 and continuing until further notice is summarized
as follows:

Tier I and Tier II (only Sta. 90 through
Sta. 180 affected)					0   MDt/day

South Virginia Lateral Compressor Station 167	144 MDt/day

Tier III (Station 180 through East)			0   MDt/day

Leidy at Centerville Regulator Station
(Only deliveries downstream of Centerville
regulator affected)					50 MDt/day

Leidy at Station 520 (Only deliveries		0  MDt/day
Downstream (east) of Station 520 affected)

Linden Regulator Station
(Located in Union County, New Jersey)		50 MDt/day

Mobile Bay Lateral			   		162 MDt/day

The above available interruptible transportation service
refers to deliveries into the affected area that have
receipts upstream of the bottleneck or affected area.

If you have any questions, please call John McGrath at (713)
215-2514 or Donna C. Long at (713) 215-4061.

J. E. McGrath
Manager
Operations Planning


Hi Nancy,

We are getting geared up to look at the interconnection agreement and work on
the land lease.  Just thought you might want to put it on the list of fun
things to do in the future.

Kay


I haven't heard anything from anyone but you and the EnronOnline team.  I
suggest we go forward as you suggested in your June 4 e-mail and deal with
the mid-month to mid-month issue if it ever actually arises.

	Homer Lin
	06/07/2001 07:11 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: Re: Tanker Freight Long Description

Mark,

Did you ever get a final answer on the Product Description?

Homer

---------------------- Forwarded by Homer Lin/HOU/ECT on 06/07/2001 07:10 AM
---------------------------

Homer Lin
06/04/2001 08:19 AM
To: Mark Taylor/HOU/ECT@ECT
cc: Scott Moncrieff/Enron@EUEnronXGate, Joe King/Enron@EnronXGate
Subject: Re: Tanker Freight Long Description

Mark,

Whether or not the mid-month to mid-month deals are likely, you should
probably ask Scott Moncrieff or Joe King to answer that question.

I was just suggesting the possibility...  I do like the additional language
that covers deals shorter than one month

"Each calendar month during the term of the Transaction will be a
Determination Period; provided that, if the term of the Transaction is less
than one calendar month, the Determination Period shall be the term of the
Transaction."

Perhaps we should proceed with the current Product Description and worry
about the mid-month to mid-month description if/when we need it.

Homer

From: Mark Taylor on 06/01/2001 10:47 AM
To: Homer Lin/HOU/ECT@ECT
cc: Carlos Alatorre/Enron@EnronXGate, Joe King/Enron@EnronXGate, Robert
Quick/Enron@EUEnronXGate, Scott Moncrieff/Enron@EUEnronXGate
Subject: Re: Tanker Freight Long Description

Homer -

The problem with the language you suggest is that it will be triggered by any
term that is longer than a month.  As far as I know, we have never had a
product that went from mid-month to mid-month.  Is that a real issue for us
here?  We have language in a few products already that takes care of the
second issue (deals shorter than one month):

Each calendar month during the term of the Transaction will be a
Determination Period; provided that, if the term of the Transaction is less
than one calendar month, the Determination Period shall be the term of the
Transaction.

In some cases (e.g. power swaps), when the deal is for less than a month the
payment dates are modified to fall at the beginning of the following month
(rather than 5 days after the floating price is determinable).  That is a
commercial call.  Just let me know how you want to handle that issue.

If mid-month to mid-month deals are likely, let me know and I will come up
with alternative language.

Mark

	Homer Lin
	06/01/2001 10:15 AM

		 To: Mark Taylor/HOU/ECT@ECT, Joe King/Enron@EnronXGate, Scott
Moncrieff/Enron@EUEnronXGate
		 cc: Carlos Alatorre/Enron@EnronXGate, Robert Quick/Enron@EUEnronXGate
		 Subject: Re: Tanker Freight Long Description

Mark,

Looks good.  The product description looks fine for copying the shipping
products that Scott Moncrieff is trading now in London.

I'm a little concerned about the line: "Each calendar month during the term
of the Transaction will be a Determination Period"...

Is it flexible enough in changing determination periods from mid-month to
mid-month?
As in June 15 to July 14 to represent a month?  Or will that just be another
Long Description that we would have to draft for another product type?

Also, what if we wanted to break up the determination periods into smaller
increments than one month?
Let us say a 1-week or 2-week period instead of a full month.

May be something like:
"Each calendar month during the term of the Transaction will be a
Determination Period unless otherwise specified by the Effective Dates"

That's my two cents,
Homer
x57642

From: Mark Taylor on 05/31/2001 06:25 PM
To: Joe King/Enron@EnronXGate, Homer Lin/HOU/ECT@ECT, Carlos
Alatorre/Enron@EnronXGate
cc: Scott Moncrieff/Enron@EUEnronXGate, Robert Quick/Enron@EUEnronXGate
Subject: Tanker Freight Long Description

Here is a draft of the US version.  Please let me know if it works for you.


Applied Valuation and Risk Management
<b>
<b>March 20-22, 2002 - San Diego, CA
<b>
<b>Evaluate Wholesale Derivative Energy Contracts, Experiment with the relationship between value and risk in your portfolio, and the implications of price
<b> volatility in power and fuel markets.
<b>
<b>Click here for a complete workshop brochure.
<b>http://www.mailbag.com/users/welsh/evr.htm
<b>
<b>What Past Participants Have Said
<b>This scenario-based training gives you hands-on experience solving problems in energy risk management and valuation of contracts and assets.  Participants will work through problems that include:
<b>
<b>*	Finding and using forward price curves
<b>*	Estimating volatility
<b>*	Embedded options: valuing and pricing complex contracts
<b>*	Valuing "full requirements" obligations
<b>*	Real options: valuing generating resources
<b>*	Designing and testing hedging strategies
<b>
<b>This course is designed for professionals who are responsible for risk management, power supply planning, fuel planning, retail services, energy trading/marketing, treasury, corporate finance and corporate strategy.
<b>
<b>Registration Fee:
<b>$995 for EPRI ARM Members,
<b>$1295 for other EPRI Members, and
<b>$1895 for non-EPRI Members.
<b>
<b>Registration is open until the workshop is filled.
<b>
<b>Click here to register on line.
<b>http://www.mailbag.com/users/welsh/evrreg4.htm
<b>
<b>Logistics:
<b>The Radisson LaJolla
<b>La Jolla, CA  92037
<b>Phone: 858-453-5500
<b>Room Rate: $129; $99 (Gov.)
<b>Block Expires: 2/26/2002
<b>
<b>For workshop detail, or to register, contact:
<b>Cara Lee (Sam) Mahany Braithwait
<b>1-888-332-8258
<b>samb@lrca.com
<b>

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Matt,

With  pleasure.

Vince

From: Matthew D Williams on 11/07/2000 05:11 PM GMT
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: PRC

Vince,

No doubt you're very busy with these things, but I'd be very grateful if you
could contribute towards my PRC evaluation. Would that be okay?

Cheers,
Matt


Wilson,

Good morning.  What is your availability this week for a conference call with
David?

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 05/14/2001 08:36
AM ---------------------------

"David Hunt" <drhunt@watervalley.net> on 05/11/2001 03:59:04 PM
Please respond to <drhunt@watervalley.net>
To: <Kay.Mann@enron.com>
cc:

Subject: RE: MDEA et al and Enron transaction

I will be out of the office on Monday,but am available the rest of the week
for a conference call, except from 2:30 - 3:00 on Wednesday.

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Friday, May 11, 2001 3:20 PM
To: drhunt@watervalley.net; wmonjoy@brunini.com
Subject: MDEA et al and Enron transaction

Gentlemen,

Could we schedule some time for a conference call next week?  I would
appreciate the opportunity to work through some of the legal issues.  I
have the lofty goal of not working Memorial Day weekend this year, so I'm
trying to get as much done on this deal as soon as possible.

Thanks,

Kay

PS.  I'm open Tues am and most of Wednesday.  I can probably work my
schedule so that I'm available quite a bit of next week.


More on the debate.
Note: forwarded message attached.

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Subject: FW: Bush/Gore Debate
Date: Wed, 4 Oct 2000 13:11:37 -0400
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-----Original Message-----
From: Jacob,Annie
Sent: Wednesday, October 04, 2000 1:08 PM
To: NMA - All
Subject: FW: Bush/Gore Debate

Thought this may be of interest to everyone--please check the attached sites
as well.

Anne

Memorandum

To GOP Activists
Fr Ken Hutcheson
Re George W. Bush Debate Win/Al Gore's Lies

I hope you got a chance to see the debate last night.  George W. Bush did a
very good job articulating his message and debating Al Gore.

I am sure it will come as no surprise to you that Al Gore could not go the
entire debate without telling a lie.  In fact, two lies have been exposed so
far.

The first one was Gore's claim that he visited Texas with FEMA Director,
James Lee Witt, after the bad Texas floods and tornadoes.  As it turns out,
that was a lie.  Al Gore on the morning news shows today claimed that he
thought he had, but it must have been another state.  Go figure.

The next lie exposed is as follows:

News radio 970 WFLA interviewed the principal of Sarasota High this morning.
He said that the girl that Gore was talking about had no desk for exactly
one day.  It was the first day of class and they were still making
adjustments to the kids class schedule and that particular classroom was
being refurbished.  The teacher only had to call the office and get her a
desk because they have plenty of desks there.  Apparently there is a picture
that was sent to Gore of her standing in class or something like that
because the Principal mentions that in the picture of her there is $100,000
of new equipment behind her.

Please pass this along to your friends and family and any undecided voters.
The more people who realize that Al Gore is a pathological liar, the better
George W. Bush will do.

Please check out the two links and cast your vote for George W. Bush as the
winner in last night's debate:  http://news.excite.com/news/poll/ or
http://www.cnn.com/

Last but not least....Have you done everything you can do to elect George W.
Bush?  Have you made a small contribution to Victory 2000?  Have you
participated in a literature drop for the GOP Ticket or made phone calls on
its behalf?  If not, please let me know.

Thanks for your support.

Paid for by Victory 2000

***To unsubscribe from these Victory 2000 Updates, please simply respond to
this email with "unsubscribe" typed into the subject line and your name will
be removed.***


I haven't looked at this yet, but I wanted to get it to you. I'll send the
terms and conditions separately.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/06/2000 05:33
PM ---------------------------

"Thompson, Peter J." <peterthompson@akllp.com> on 12/06/2000 05:30:01 PM
To: "Kay Mann (E-mail)" <kay.mann@enron.com>
cc: "Pipitone, Paul" <paulpipitone@akllp.com>, "Cobb, Chris"
<chriscobb@akllp.com>

Subject: Exhibits to the CA Energy Development Agreements

  Attached please find clean and blackline versions of the exhibits to
the CA Energy Development Agreements.

To complete the exhibits, we need to include the following:

1. Exhibits B-1, H-2 and R need to be added.

2. Do we need to add language to section B of Exhibit A-1 because
these are dual fuel turbines?

3. Should the scope be changed in Exhibit B because these are dual
fuel turbines?

4. In Section 3.1 of Exhibit K, the terms "Specific Date" and
"Recovery Schedule" are not defined.

5. For Exhibit T, please confirm that Enron has received all of the
documents that it should have received by now.

6.  If required, we need to have a Seller Parent Guaranty for
Exhibit C-1.
 <<Exhibits to CA Development Turbine Agreement.DOC>>  <<Exhibits to CA
Energy Break-Out Agreements.DOC>>
 - Exhibits to CA Development Turbine Agreement.DOC
 - Exhibits to CA Energy Break-Out Agreements.DOC


Kay--attached is the interconnection agreement I had prepared before we got
VEPCO's draft.  Bear in mind it is drafted to be very favorable to the
Facility owner.

 - VEPCOINT.DOC


CALENDAR ENTRY:	INVITATION

Description:
	Kelly and Kevin's Baby Shower

Date:		6/2/2001
Time:		6:00 PM - 9:00 PM (Central Standard Time)
Not for public viewing

Chairperson:	Stacey W White

Detailed Description: