Susan and Bate,

Please send me your current addresses.  I am sending out an invite for a
shower for Caycie on Feb 2nd.

Thanks,
Lisa

Also send me your home numbers so that I can update my organizer.


Friday breakfast works for me.  6:30 am at 59 Diner.

Jim

 -----Original Message-----
From: 	Jason Riley <jason.riley@novoforum.com>@ENRON
Sent:	Monday, October 29, 2001 1:19 PM
To:	'Jim Steffes - work'
Subject:	lunch or breakfast?

Jim,
It's been a while since we visited.  Let's catch up over a breakfast/lunch.  Saw Civiletto last week and he mentioned you have another bambino on the way.  My schedule is good this Friday, else Monday or Tuesday next week.
Jason Riley
NOVOFORUM
10370 Richmond Ave #200
Houston , Texas  77042
832.201.3120 office
<mailto:jason.riley@novoforum.com << File: mailto:jason.riley@novoforum.com >> >
See us at: http://www.novoforum.com << File: http://www.novoforum.com >>
Novoforum (Latin for "New Markets") provides e-business infrastructure for manufacturing and energy companies.  Novoforum creates competitive advantage for its clients through cost-efficient solutions that enable supply chain integration and collaboration with their key customers, suppliers and service providers.


PL
John        - 5,385
Maggi     + 3,502
May        -    625

VAR
John        28,167,2956
Maggi         1,937,614
May            1,948,078
Total          26,767,309

Let me know if you need anything


We'll guarantee a minimum of $200,000 for 2002 based on current price of $25,000 per data room.  We will not agree to an allocation though.

Thanks

Louise

-----Original Message-----
From: Piper, Greg
Sent: Thursday, October 04, 2001 3:58 PM
To: Delainey, David; Dietrich, Janet; Lavorato, John; Kitchen, Louise; Fallon, Jim; McMahon, Jeffrey; Bowen Jr., Raymond; Shankman, Jeffrey A.; Mcconnell, Mike; McCarty, Danny; Sherriff, John
Cc: Richter, Brad; Pickering, Mark; Beck, Sally; Wasaff, George; Mesquita, Ross; Whalley, Greg
Subject: DealBench in 2002

As you know, we have an application in ENW called DealBench.  This application allows deal rooms, data rooms and auctions.

ENW has done a complete review of this application and determined the following:

(1)  It is very difficult to build a successful, externally facing business based on the above lines of service in an ASP format.  Outside marketing to external clients for a fee was stopped in July 2001.

(2)  A change in the eCommerce landscape combined with Auctioning technology becoming a commodity makes it very difficult to sell the application and associated intellectual property.  ENW has approached 22 separate companies about a purchase of the software since April with no outright bids.

(3)  However, the auction and deal room functionality was used by many internal business units for a variety of reasons.  According to expected budgets and expected costs prior to events vs. actual results after auctions and deal rooms occurred, Enron business units realized approximately $8 million in value.  In the past, ENA has done 13 data rooms, EES did 2 live auctions, EBS did 3 live auctions, Corp. did 4 live auctions, tax did a deal room and NBPL did 2 auctions in addition to the small amount of business that was done by non-Enron clients.

Therefore, the question going forward is if several business units in Enron will take the application on an allocated or commitment to services basis for 2002.  The total estimated expense for the application (depreciation, ongoing technical and commercial support, etc.) is $2 million for 2002.

If a representative of each business unit would get back to me with an answer soon, that would be great.  The application works well and has provided real value to Enron.  If there is not enough interest in it, I will discuss with Whalley what we do about potentially shutting it down.

Thanks.

Greg Piper
Chief Executive Officer

Enron Net Works, LLC

  _____


We are planning on going live Feb 15 depending on final approval of price and
volatility curves from Jean Mrha Beach and Kevin Hannon.
----- Forwarded by Scott Pleus/Enron Communications on 02/11/00 07:17 PM -----
|--------+----------------------->
|        |          Denae        |
|        |          Umbower@ECT  |
|        |                       |
|        |          02/11/00     |
|        |          05:12 PM     |
|        |                       |
|--------+----------------------->

>----------------------------------------------------------------------------|

|                                                                            |
  |       To:     Sheila Glover/HOU/ECT@ECT, Clara
Carrington/HOU/ECT@ECT,     |
  |       Theresa T Brogan/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Michael
E   |
  |       Moscoso/HOU/ECT@ECT, Chris Abel/HOU/ECT@ECT,
Gary                    |
  |       Stadler/HOU/ECT@ECT, Rudi
Zipter/HOU/ECT@ECT                         |
  |       cc:     Jeremy Mills/Enron Communications@Enron Communications,
Scott|
  |       Pleus/Enron Communications@Enron
Communications                      |
  |       Subject:     Bandwidth
trading                                       |

>----------------------------------------------------------------------------|

Status of Bandwidth trading reporting:

We have met with each of you and sent you information for the specific needs
of
each group.  As of today, I think we are all in agreement that the information
sent will work respectively for each of you and we are ready to 'go live' with
bandwidth reporting.  If this is not the case, please contact Jeremy Mills (x
35685) or myself (x39312) as soon as possible.

Thanks to each of you for working with us on this initiative,

Denae


Teresa,

Thanks for the invitation. I shall attend.

Vince Kaminski
Enron


Dennis--
 Can you tell me, of the following POI's, which are active on any TW shipper contracts and who the shipper is, including contract number? Can I get this info by sometime Tuesday 2/19?

thanks, KH

POI
61206
500391
500392
9109
500241
500242


FYI.  Oregon's delay will be 5 months.  I'll take a look at the other
provisions of the bill once it is available in engrossed format.

-----Original Message-----
From: Finlayson, Cindy
Sent: Sunday, July 01, 2001 2:53 PM
To: Lesh, Pamela; Kuns, Doug; DUDLEY, JAY; Barnes, Jim; Piro, Jim;
HAGER, PATRICK; Dahlgren, Randy; MILLER, FRED; Vanbossuyt, Dave;
wiz.ixgate.Mike
Cc: Kaufman, Paul; HQ1.EM2.Scott Simms; wiz.ixgate.klmconsulting
Subject: Good News!! Let's hear it for the 5 mo. delay!!

Expires After: 11/12/2001 23:00

HB 3633 (mo. delay) was concurred by the House with a 53 yes to 6 no vote!!  A
huge thanks goes to Rep. Jim Hill who helped us get our 5 mo. delay and has
been there for us through out the session.  This bill is now on its way to the
Gov. office for signature.  There is less than .0001% chance that the Gov
would veto this bill!  So were on!!!

We are going to be in Senator Derfler's office first thing tomorrow  (Monday)
to see when HB 3696 will be scheduled.  We will make sure that the -13
amendments are not adopted and the -15 are adopted.  At this point were are
85% sure the -13's won't be, we plan on shoring that up in the morning!

Pollution Control Tax Credits SB 764 is up today at 4:00 PM for a hearing, so
far it looks like we will be fine if the Gov.'s office agrees to the latest
deal.  Our biggest issue are the Trojan credits and Kristina McNitt covers
this issue for PGE, she is less known as a PGE lobbyist than I am.-So far we
have been successful in keeping the T-word (Trojan) out of the building this
session. We are working closely with the other parties on PCTC vote counts and
individual lobbying but when the deal is being cut if PGE shows up there is
the possibility that the T word could tube a deal or attract some anti T
followers-so we have been very careful and low key on this issue.  We are very
optimistic about getting what we need even if it is at the eleventh hour!!


I thought you all might find this an interesting read.  Sorry, the complaint
form wasn't very user friendly - I guess the person that designed the
form is the same that hired there ticketing help.

-E

To whom it may concern:

I recently returned from a wonderful vacation to Telluride.  It was wonderful
except for the fact that I traveled on your airline.

I was originally supposed to leave out of IAH at 6:05 AM on 12/9/00 for
Phoenix and catch a 10:00 AM connection to Telluride
(the only flight of the day from Phoenix to Telluride).  Unfortunately, the
flight was cancelled due to the re-routing of our plane because
of foggy conditions in the Houston area.  I do not blame America West for
this; It is understandable to cancel this flight because of
the danger involved in landing in foggy conditions. There is, however, no
danger involved in taking off in these conditions, which
leads me to the point of this complaint.  Your ticketing staff in IAH was
less than helpful in re-routing us on another airline
(Continental/United/American had several flights that could have delivered us
to Phoenix in time to catch our connection) so that
we could make our connection.  Instead, we were told that it was impossible
to find a flight that could get us to Phoenix in time for this
connection.  Subsequently, I called other airlines and confirmed space on
flights that would have  delivered us to Phoenix on time.
It now appears that America West was more willing to sacrifice a day of my
vacation rather than pay up to put me on another flight.
I am extremely disillusioned with the service we received; Because we missed
our connection we were forced to spend a combined
6 hrs in the Phoenix and Houston airports and eventually fly into Montrose,
CO where we had to drive 100 miles to Telluride.  Instead
of arriving in Telluride, Co at 12pm on 12/9 we arrived at 10pm, a full ten
hours later.  This delay caused the waste of one full day of
vacation.  Myself and members of my group will never fly your airline again
because of this experience.

For your research I provide the following data:
Persons in Party - Eric Bass, Larry Bass, Kathy Bass, Jason Bass, Shanna
Husser, and Donnita Franklin.

Final Itinerary (after all changes) -
Flt. 2765 Dec. 09 Iah-Phx 8:51AM
Flt. 6244 Dec. 09 Phx-Mtj 3:34PM

Flt. 6241 Dec. 14 Mtj-Phx 9:00AM
Flt. 2273 Dec. 14 Phx-Iah  1:15PM

Sincerely,

Eric Bass


The weekly price sheet is attached.  Please note that this is the first update of the sheet since 12/3/01.  It will now be updated each week going forward.

James Bruce
Enron North America		(503) 464-8122
West Power Desk		(503) 860-8612 (c)
121 SW Salmon, 3WTC0306	(503) 464-3740 (fax)
Portland, OR 97204		James.Bruce@Enron.com


I used the wrong email address!
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 04/27/2000
04:53 PM ---------------------------

Sara Shackleton
04/27/2000 03:31 PM
To: rjr@huoston.rr.com
cc:
Subject: Assignmemt/Amendment

Robert:  Susan Flynn told me that your client is objecting to the deletion of
the first part of the first sentence in the "Setoff" language.  I just wanted
to explain why we are requesting this change.  In reviewing our forms during
the latter part of 1999, we made a number of changes to both our ISDA
Schedule and CSA.  One of these changes was the deletion of  the preamble
language contained in the setoff provision.  We concluded that the phrase
"Without affecting ...., all payments will be made without setoff
...;provided, however," actually negated the effect of setoff which we WANT
to occur UPON THE DESIGNATION OR THE DEEMED DESIGNATION of an Early
Termination Date.  What purpose do you think the phrase serves if left in the
setoff provision?  Please feel free to give me a call at 713/853-5620.
Thanks.  Sara


Drew - Steve and I have been discussing our options and we will follow up
with Tom.

Thanks!


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 04/13/2000
04:34 PM ---------------------------

	Enron North America Corp.

	From:  Maria Sandoval                           04/13/2000 01:29 PM

To: Andrea R Guillen/HOU/ECT@ECT, Phenicia Olivier/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Cassandra S
Dutton/HOU/ECT@ECT, Lorraine Becker/HOU/ECT@ECT, Angela Henn/HOU/ECT@ECT,
Melba Lozano/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT,
patty.soria@halliburton.com, elizabeth.gutierrez@eott.com, Judy
Hernandez/HOU/ECT@ECT, Elizabeth Soto/HOU/ECT@ECT, amolina@unifirst.com,
apena26@hotmail.com, Pamela Sonnier/HOU/ECT@ECT, Brenda
Barreda/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Yolanda Pena/Corp/Enron@Enron
cc:
Subject: FW: : Rescuing Hug

---------------------- Forwarded by Maria Sandoval/HOU/ECT on 04/13/2000
01:29 PM ---------------------------

Yolanda Sandoval <Yolanda.Sandoval@Halliburton.com> on 04/13/2000 01:18:50 PM
To:
cc:
Subject: FW: : Rescuing Hug

Yolanda Sandoval
KBR Legal Dept.
713-753-5986
yolanda.sandoval@halliburton.com

 <<RESCUINGHUG.JPG>>

 - RESCUINGHUG.JPG


I fear death is making a strong push down the backstretch. Right now its a pissing match between Watson and the banks. We are somewhat emasculated bystanders.
Mitch
--------------------------
Sent from my BlackBerry Wireless Handheld


please print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/23/2000
08:15 AM ---------------------------

Chris Mahoney
10/20/2000 03:20 PM
To: Chris Mahoney/LON/ECT@ECT
cc: Jeffrey A Shankman/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Mike
McConnell/HOU/ECT@ECT
Subject: Re: tax structure pre-pays in the north sea

In addition to this business below there is a very good chance that we are
going to get a short of 1.4 mil bbls per year
of low sulfur fuel oil barges for 2001-2004.  We think this will be a good
deal for us to get on the books since the bulk of the
hedging interest that the continental gas desk is bringing to us is customers
looking to buy fuel to hedge natural gas prices.
Continental gas are anxious to close this deal because the gas contract is
well in the money and would like to book this
deal for this quarter.  There are var issues that need to be considered
though so we need to address this at the beginning
of the week.

Thanks

Chris.

Chris Mahoney
10/16/2000 11:03 PM
To: Jeffrey A Shankman/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Mike
McConnell/HOU/ECT@ECT
cc:

Subject: tax structure pre-pays in the north sea

corporate finance in London (primarily Chris Harris) has been looking for
about 6 months into approaching the small north sea
producers to do pre-pay purchase contracts that would enable the producers to
significantly reduce their tax liability to the uk
government.  These producers (talisman, kerr mcgee, lasmo, hess, enterprise,
and a couple of others) are
currently paying some 65-70% of the value of crude oil back to the government
and they feel the cost savings to the producers is
something on the line of 25% after financing costs for the pre-pay.  I have
asked them to do a presentation to you, as if you were one
of the producers, for how this structure would work.  Can you advise when you
would be free for this?  The volumes could be large
(potentially upto 25 million bbls) and there is considerable basis risk in
hedging these physical volumes.  we are looking into the
price that we could bid them for their physical oil that covers the basis
risk.  It would be nice to try to combine this with some long-
term gas supply contract on the continent that would require us to be buying
fuel and gasoil as the hedge and we are approaching
some of the large natural gas buyers in continental europe to see if the
recent spike in oil prices has encouraged more hedging.
please let me know your thoughts on this and when/if you could be free for a
presentation from chris harris.

thanks,

chris.


Attached is the final draft of the Macerich news release.  The
TCV is approximately $280 million.  The draft reflects comments
from Steve Kean, Mark Palmer, Mark Koenig, Cedric Burgher,
Jermey Blachman, Marty Sunde, Tom White and other EES
executives.

Please let me know if you have any changes or comments.  We'd
like to release mid-morning Thursday, November 30.

Thanks
Peggy Mahoney
57034


okay...up or down???

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, May 30, 2001 11:32 AM
To:	Huble, Amanda
Subject:	RE:

you are supposed to ask up or down

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Wednesday, May 30, 2001 11:31 AM
To:	Maggi, Mike
Subject:	RE:

Sounds good to me!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, May 30, 2001 11:27 AM
To:	Huble, Amanda
Subject:	RE:

going across the street

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Wednesday, May 30, 2001 10:30 AM
To:	Maggi, Mike
Subject:

so what are we doing tonight?


Diane is out all week, just call ol Cara to tell her all about it.

C


Again, these look fine.  One comment which of course Steve will be aware of:  if (as I believe is to occur) a U.S. entity holds the note, there will be imputed interest for U.S. federal income tax purposes, since the note does not carry interest.

Katherine M. Bristor
Skadden Arps Slate Meagher & Flom LLP
4 Times Square
New York NY 10036
p: (212) 735-2338
f:  (917) 777-2338
kbristor@skadden.com

>>> "MUNGO HARDWICKE-BROWN" <mungo.hardwicke.brown@blakes.com> 11/07/01 06:37PM >>>

Please see attached.

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

Mungo Hardwicke-Brown
Blake, Cassels & Graydon LLP
#3500, 855 - 2nd Street S.W.
Calgary, Alberta T2P 4J8
403-260-9674 (telephone)
403-260-9700 (facsimile)
mhb@blakes.com (email)

This email communication is confidential and legally privileged.  If you are not the intended recipient, please notify me at the telephone number shown above or by return email and delete this communication and any copy immediately.
Thank you.

****************************************************
This e-mail and any attachments thereto, is intended only for use by the addressee(s) named herein and may contain legally privileged and/or confidential information. If you are not the intended recipient of this e-mail, you are hereby notified any dissemination, distribution or copying of this email, and any attachments thereto, is strictly prohibited. If you receive this email in error please immediately notify me at (212) 735-3000 and permanently delete the original copy and any copy of any e-mail, and any printout thereof.

Further information about the firm, a list of the Partners and their professional qualifications will be provided upon request.
****************************************************

 - Katherine Bristor.vcf


Well, you know Enron.  No boredom, ever!

Kay

"JOHN G KLAUBERG" <JKLAUBER@LLGM.COM> on 03/13/2001 11:03:11 AM
To: Kay.Mann@enron.com
cc:

Subject: Re: Fuel Cells

Kay:  We will do a fatal flaw review and follow up.  I am following up with
the lawyer in our CT office who I had talked to initially.  I hope that all
is well.  It sure sounds like you all are just buried.  Speak to you soon.
John
>>> <Kay.Mann@enron.com> 03/13/01 09:23AM >>>
Hi John,

I still need a Connecticut lawyer to look at this.  Do you have someone
available?  I need input by Monday, March 19. Nothing comprehensive, just a
fatal flaw analysis under Connecticut law.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/13/2001 08:21
AM ---------------------------

Kay Mann
12/11/2000 06:57 AM

To:   jklauber@llgm.com
cc:   Heather Kroll/HOU/ECT@ECT

Subject:

Hi John,

I'm attaching the current draft of the contract under which we will be able
to buy the Fuel Cell equipment for use on projects in Connecticut.  The
contract will likely be a Connecticut law contract.  Could you have someone
give it a fatal flaw check, or should I use Connecticut counsel?

One issue which is nagging me is their request for a security interest in
the equipment, as I think this might complicate financing.  I assume that
an equipment supplier has certain lien rights under Connecticut law anyway.
Can you have this verified?  I only want the simplest of explanations.

Thanks,

Kay

---------------------- Forwarded by Kay Mann/Corp/Enron on 12/11/2000 06:52
AM ---------------------------

"Scheib, Jacqueline Pennino" <jscheib@rc.com> on 11/17/2000 10:26:09 PM

To:   "'kay.mann@enron.com'" <kay.mann@enron.com>, "Jerry Leitman (E-mail)"
      <jleitman@fce.com>, "Ross M. Levine (E-mail)" <rlevine@fce.com>
cc:   "Sellay, William" <WSELLAY@RC.com>

Subject:

 <<jgtk01!.DOC>>  <<RED FUELCELL AGR.DOC>>
--------------------------------------------------
Jacqueline Pennino Scheib, Esq.
Robinson & Cole LLP
280 Trumbull Street
Hartford, CT  06103
(p) 860-275-8285
(f) 860-275-8299
jscheib@rc.com

(See attached file: jgtk01!.DOC)
(See attached file: RED FUELCELL AGR.DOC)

"This e-mail, including attachments, contains information that is
confidential and it may be protected by the attorney/client or other
privileges.  This e-mail, including attachments, constitutes non-public
information intended to be conveyed only to the designated recipient(s).  If
you are not an intended recipient, please delete this e-mail, including
attachments and notify me by return mail, e-mail or by phone at 212
424-8125.  The unauthorized use, dissemination, distribution or reproduction
of the e-mail, including attachments, is prohibited and may be unlawful.

John Klauberg
LeBoeuf, Lamb, Greene & MacRae, L.L.P.
212 424-8125
jklauber@llgm.com


-----Original Message-----
From: 	Forney, John M.
Sent:	Wednesday, August 01, 2001 7:18 PM
To:	'jmwatson@tecoenergy.com'
Subject:	Ercot Conference Call

Jerry,
Please disregard the explanation of the OOM power settlement.     The ISO called us at 7:15 pm and explained a different scenario
altogether.   We need to discuss this further.
Sorry for the confusion.

JForney


Crude 24X7 WTI Marketing Effort

Trade Count:
	278	Trades
	12.7	Millions of Barrels
	11	Counterparties Transacting Today
	29	Counterparties Transacting to Date
Comments:
2nd Highest Volume day

<Embedded Microsoft Excel Chart>
<Embedded Microsoft Excel Chart>
<Embedded Microsoft Excel Chart>


Vince,

Please find attached the interim report on agricultural commodity trading for
Gary Hickerson. Your comments are welcome as we would like to send this to
Gary as soon as possible.

Regards,
Kate
ext 3-9401


this week is tough for lunch, we have meetings today and tomorrow, friday i
am playing golf in the morning. Where do you live? if you are in the
woodlands you are welcome to come by my house this weekend. I will be at the
childrens festival here in the woodlands on saturday. Sometime sunday is
also ok. or next week sometime.
----- Original Message -----
From: <Benjamin.Rogers@enron.com>
To: <charles@capstoneenergy.com>
Sent: Tuesday, October 17, 2000 6:25 PM

> Charlie:
>      It was a pleasure meeting you yesterday afternoon at the Columbia
> Business School information session.  As you probably noticed through my
> enthusiasm, I really enjoy working in the energy-finance industry,
> especially with Enron.  Working in this sector, at this time, has created
> many new opportunities.  I am interested in talking with you to see if we
> can do some type of transaction with you guys.  It sounds like you have a
> lot going in areas that we might be interested in.  If you could send me a
> business proposal or summary of what your doing, that would be helpful.
>
>      With regards to Columbia Business School, I applied last year and did
> not get in due to my GMAT score.  I decided to take a graduate level
> finance class this summer, which I received an A.  I am currently taking
> another graduate finance class this semester.  I am also retaking the
GMAT,
> with the hopes of increasing my quantitative score.
>      Last year, I was asked back for an interview, which I felt was a good
> sign.  I heard from one of my recommenders that the only thing that I
> needed to improve on was my GMAT score.  Recently, I wrote a brief letter
> to the Dean of Admissions, Linda Meehan, informing her of my recent
actions
> as well as my continued interest with Columbia.  I hope that these actions
> will help me get into Columbia this year.  My desire to go to Columbia,
> stems from their network, location, reputation and curriculum.  Since
> growing up in Pelham,  it would be nice to get back to New York for a
> little while.
>      As you can see, my desire to go to Columbia is very strong.  I hope
> this brief e-mail has provided some insight into what I'm doing to get
into
> Columbia.  I hope we can meet for lunch sometime soon either up in the
> Woodlands or downtown.  Again, thank you for your interest and I look
> forward to talking with you about Columbia and future energy transactions.
> Regards,
>
> Ben Rogers
>


Ok on Sachs

I think that's a real problem with their money - how much each and how are the people?  Essentially - how material?

 -----Original Message-----
From: 	Oxley, David
Sent:	Tuesday, February 05, 2002 4:06 PM
To:	Kitchen, Louise; Whalley, Greg
Subject:	Two things

Credit
Bill may want to do a contract for Sachs at around 20/20. He's thinking about it and will let me know. Apparently RWE are chasing him.

NETCo ee's with nearly 5 years service at Enron
We have about 10 people who had they stayed at Enron estate for another 30 - 60 days would have vested in the Enron pension plan (cash-balance plan). We have tried to find some way to make something work here, but as it stands it looks like the are going to have to transfer on 8th of Feb and forfeit whatever was in this plan (roughly 5% of base salary per year and it is a 5 year service vesting arrangement). You may hear some noise.

David


Susan,

Hope you've had a wonderful Thanksgiving!

Attached in the file are the inputs to the option models for the two deals.
Please let me know if you have any questions.

Shouan

Susan M Scott@ECT
11/22/2000 10:17 AM
To: Jeremy Wong/HOU/ECT@ECT
cc: Shouan Tang/NA/Enron@Enron

Subject: gas daily forward start options

Here are a couple of deals to look at.

Q22452.1 and Q97452.2

Thanks,
Susan


Sure:

I think that would be a great opportunity to get more insights on modeling
forward curves.
I would like to participate on both courses if possible.

Many thanks for remembering my name.
Paulo Issler.

Vince J Kaminski
11/13/2000 08:15 AM
To: Paulo Issler/HOU/ECT@ECT, Alex Huang/Corp/Enron@ENRON
cc:
Subject: Lacima Energy and Weather Derivatives Courses by Clewlow and
Strickland

Paulo, Alex,

Any interest?

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/13/2000
08:22 AM ---------------------------

"Julie" <julie@lacima.co.uk> on 11/12/2000 02:05:40 PM
To: <Undisclosed-Recipient:@mailman.enron.com;>
cc:
Subject: Lacima Energy and Weather Derivatives Courses by Clewlow and
Strickland

Please find attached information?for our next two courses and  workshops:?
Energy Derivatives:? Pricing and Risk Management and
Weather Derivatives, which will be conducted in Houston and in London in  Feb
/ March 2001.? Instructors will be Dr Les Clewlow and Dr Chris  Strickland.
?
Because the course requires intense interaction, the courses will  be?limited
to a maximum of 15 people, so early registration is  encouraged.
?
If you require further information, or would like to register for either or
both?courses, please contact me via this email or our web site,?www.
lacimagroup.com
 - Energy.pdf
 - weather.pdf


Hi Greg --

 The auction will take place tomorrow using WRH's OpenBook system.
This is a significant
 milestone for WR Hambrecht. We will be working with Goldman Sachs
going forward, and I thought
 it would be great if we could set up a meeting with Andrew Fastow
and Ben Glisan in the near future
 to tell the OpenBook story. Please let me know if you would be the
person to make the request
 on our behalf or if it is appropriate for me to call them directly.

 Hope things are great with you.

      Leslie Mueller
      Head, Marketing
      (415) 551-8615
      lmueller@wrhambrecht.com

 p.s. If you or Liz could be in touch re setting up a meeting, I'd
really appreciate it. We have plans
     to be in Texas a couple of times in June and we would like to
try to add Enron to the top of the list.

****************************************************************************
IMPORTANT NOTICES:
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Daren - Can you set up new deals for meter 6757 and 5192?

 Meter 6757 Crow O'Connor -  Counterparty Duke Energy & Trading

  Month  Contract Deal #
  June 99  ENA 201 87426
  July 99  HPL 215 95072
  Aug 99  HPL 215 102775
  Sept 99  HPL 215 110502

 Meter 5192 Sarco Lateral

  No deal has ever been set up for meter 5192 for Duke Energy & Trading.
There is flow for May, July and Nov. 99.

Will you please let me know if you set up new deals for these meters?

Thanks.

Aimee
---------------------- Forwarded by Aimee Lannou/HOU/ECT on 05/04/2000 03:17
PM ---------------------------

Fred Boas
05/04/2000 12:08 PM
To: Aimee Lannou/HOU/ECT@ECT
cc: Robert E Lloyd/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT
Subject: Sarco Lateral and Crow O'Connor Meters

Aimee:

The Crow O'Connor, meter 6757 has its gas allocated to Strangers Gas for
April and May 1999 and Duke has been calling Settlements asking for their
money.  I will need to set up accounting arrangements for this meter for
these months so please provide me the correct transportation contract and
valid deal # for this transaction.

In addition, the Sarco Lateral, meter 5192 has its gas allocated to Strangers
Gas for May and July 1999 and Duke has been calling Settlements asking for
their money.  I will need to set up accounting arrangements for this meter
for these months so please provide me the correct transportation contract and
valid deal # for this transaction.

I would like to get this done ASAP since the customer is calling Settlements
and we start close next week.

Thanks,

Fred


THE PASSWORD IS "astros" lower case
 -----Original Message-----
From: 	Mayeux, Gay
Sent:	Sunday, October 14, 2001 5:37 PM
To:	Koenig, Mark; Rieker, Paula; Causey, Richard; Leboe, David; Maredia, Amin; Gillette, Lisa
Subject:	3Q Docs

Pls review and let me have your comments as soon as possible.  Thanks!

_________________________
Gay Mayeux
Vice President, Investor Relations
Enron Corp.
1400 Smith Street, EB 4931a
Houston, Texas 77002

Phone:  713-853-9905
Cell:      713-416-8821
Fax:      713-646-3002
email:    gay.mayeux@enron.com


Did you notice on the spreadsheet for 3/27 they opened a new power product,
US East Power Phys Firm ICAP?


Finally - We have a China WTO agreement.  Congress must now vote on permanent
Normal Trade Relations (NTR) with China. We will follow closely and report.

            OFFICE OF THE UNITED  STATES TRADE  REPRESENTATIVE
                     Executive Office of the President
                          Washington, D.C.  20508

 USTR Press Releases are available on the USTR home page at www.ustr.gov.
     They are also available through the USTR Fax Retrieval System at
                               202-395-4809.

For Immediate Release                               Contact:Thomas Tripp
November 15, 1999                             Helaine Klasky
                                         Amy Stilwell
                                          (202) 395-3230

                 U.S., CHINA SIGN HISTORIC TRADE AGREEMENT

BEIJING, November 15, 1999    U.S. Trade Representative Charlene Barshefsky
and National Economic Council Director Gene Sperling today announced the
successful completion of bilateral talks on China?s accession to the World
Trade Organization.

Ambassador Barshefsky and Mr. Sperling issued a joint statement that said,
AWe are glad that after thirteen years of negotiation, China and the United
States have agreed upon a strong, commercially viable WTO agreement for
China.  This historic agreement is a win for American export-related jobs,
for Chinese economic reform, for our global trading system and for the
long-term U.S. - China relationship.

Outline of the Agreement

This agreement provides significant access for U.S. agriculture, industrial
products and services.  China will reduce both tariff and non-tariff
barriers to industrial goods and farm products.  The agreement contains
strong provisions to address import surges and unfair trade practices.
China has agreed to take specific actions to ensure fair treatment for
businesses operating in China.  These include limits on technology transfer
requirements, offsets and export performance requirements.

Some specific examples from the agreement include:

China will cut duties from an overall average of 22.1% to 17%.
China will make even greater reductions on agricultural items of particular
     interest to the United States.
China will establish large and increasing tariff-rate quotas for wheat,
     corn, rice and cotton with a substantial share reserved for private
     trade.
State trading for soy oil will be phased out.
China will eliminate export subsidies.
American companies can provide auto financing.
New access for U.S. companies, including banks, insurance companies and
     telecommunications businesses.
Distribution rights for U.S. exporters.
Improved access for computer services, business consulting, accounting,
     advertising,  and financial information services.
Increased imports of foreign films, on a revenue-sharing basis, to at least
     twenty films per year.

In textiles, the U.S. and China agreed on appropriate measures to avoid
     market disruptions during and after the phase out of current quotas.

Next Steps

This agreement represents a crucial step in China?s WTO accession process.
Several important steps remain ahead.  First China must conclude bilateral
negotiations with a number of other WTO members, including the European
Union.  Multilateral negotiations on China?s accession protocol must also
be finished.  China must then complete its own domestic procedures for
accession.

In response to the commitments contained in the agreement signed today,
President Clinton will work with other WTO member countries to gain China?s
entry as soon as possible and will seek from Congress the approval of
permanent Normal Trade Relations (NTR).


Hi Folks,

Once again, here's the Official Injury report hot off the presses from the
NFL.   Thanks to Footballguy Bob Harris of the award winning
www.TFLReport.com for doing the formatting on this for me.

Enjoy.

Joe

/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/

Arizona Cardinals
Out: DE Kyle Vanden Bosch (knee)
Doubtful: CB Tom Knight (hamstring); WR Rob Moore (hamstring); SS Pat
Tillman (ankle)
Questionable: FB Dennis McKinley (hamstring)
Probable: C Mike Gruttadauria (neck)

Atlanta Falcons
The Falcons are idle this week due to the NFL bye.

Baltimore Ravens
Out: WR Pat Johnson (clavicle); T Leon Searcy (arm)
Questionable: RB Terry Allen (ankle); QB Elvis Grbac (chest); TE Todd Heap
(ankle); G Edwin Mulitalo (knee)
Probable: DT Sam Adams (knee); RB Jason Brookins (shoulder); DE Michael
McCrary (knee); TE Shannon Sharpe (knee); K Matt Stover (leg)

Buffalo Bills
Out: G Jerry Ostroski (leg)
Doubtful: T Jonas Jennings (foot); DT Leif Larsen (elbow)
Questionable: DE Phil Hansen (elbow); WR Jeremy McDaniel (ankle)
Probable: SS Tony Driver (shoulder)

Carolina Panthers
Out: RB Tshimanga Biakabutuka (foot-injured reserve); G Kevin Donnalley
(knee-injured reserve); OLB Kory Minor (knee); OLB Dan Morgan (leg); LB
Hannibal Navies (arm-injured reserve)
Doubtful: CB Deveron Harper (hamstring)
Questionable: WR-KR Steve Smith (knee)
Probable: FB Brad Hoover (concussion); DE Jason Peter (neck); QB Chris
Weinke (hip)

Chicago Bears
Probable: T Patrick Mannelly (ankle); QB Shane Matthews (ribs); CB R.W.
McQuarters (groin); RB Anthony Thomas (toe)

Cincinnati Bengals
Out: WR Chad Johnson (clavicle)
Doubtful: CB Robert Bean (hamstring)
Questionable: DE Vaughn Booker (ankle)
Probable: TE Marco Battaglia (calf); CB Tom Carter (knee); MLB Brian Simmons
(leg)

Cleveland Browns
The Browns are idle this week due to the NFL bye.

Dallas Cowboys
Out: QB Quincy Carter (hamstring); DE Ebenezer Ekuban (back)
Questionable: WR Joey Galloway (foot); WR-KR Reginald Swinton (hamstring)
Probable: WR Darrin Chiaverini (knee); WR Raghib Ismail (knee); QB Anthony
Wright (knee)

Denver Broncos
Questionable: RB Terrell Davis (knee); WR-KR Kevin Kasper (ankle)
Probable: QB Brian Griese (shoulder); G Steve Herndon (knee); G Dan Neil
(ankle); FB Detron Smith (neck); WR Rod Smith (ankle)

Detroit Lions
Out: MLB Stephen Boyd (back); WR Germane Crowell (knee-injured reserve)
Questionable: DT Luther Elliss (elbow); G Stockar McDougle (foot); DE Robert
Porcher (ankle); FS Kurt Schulz (back); G Tony Semple (back); RB James
Stewart (ankle); CB Bryant Westbrook (Achilles)

Green Bay Packers
The Packers are idle this week due to the NFL bye.

Indianapolis Colts
Out: OLB Sean Harris (neck/shoulder); WR Jerome Pathon (foot); WR Terrence
Wilkins (chest)
Questionable: DE Chad Bratzke (ankle); T Adam Meadows (foot)
Probable: FS Idrees Bashir (ankle); CB Cliff Crosby (chest); CB Nicholas
Harper (groin); OLB Ryan Phillips (neck)

Jacksonville Jaguars
Out: T Tony Boselli (shoulder-injured reserve); SS Donovin Darius (hip); RB
Fred Taylor (groin)
Questionable: TE Damon Jones (shoulder); OLB T.J. Slaughter (knee/ankle)
Probable: T Todd Fordham (ankle); G Zach Wiegert (elbow)

Kansas City Chiefs
Out: DT John Browning (knee); CB Ray Crockett (hand); T Victor Riley
(leg/ankle); OLB Gary Stills (groin)
Questionable: WR Dante' Hall (shoulder)
Probable: DE Monty Beisel (shoulder); FB Tony Richardson (shoulder); T John
Tait (hip); WR Chris Thomas (neck strain)

Miami Dolphins
Out: S Trent Gamble (shoulder-injured reserve); FS Brock Marion (calf); WR
Dedric Ward (foot)
Probable: CB Ben Kelly (ankle); RB Lamar Smith (ankle); T Todd Wade (knee)

Minnesota Vikings
Out: SS Robert Griffith (ankle)
Questionable: RB Michael Bennett (ankle)
Probable: G Corbin Lacina (ankle); WR Randy Moss (ankle); OLB Jim Nelson
(quadricep); WR Troy Walters (knee); OLB Antonio Wilson (hamstring); NT
Shawn Worthen (toe)

New England Patriots
Doubtful: QB Drew Bledsoe (chest)
Questionable: WR Terry Glenn (leg); FS Antwan Harris (ankle); TE Rod
Rutledge (ankle); NT Richard Seymour (leg)

New Orleans Saints
Doubtful: T Willie Roaf (knee)
Questionable: MLB Charlie Clemons (quadricep); CB Michael Hawthorne
(hamstring); FS Richard Newsome (ankle); G Wally Williams (hamstring); OLB
Brian Williams (hamstring)
Probable: FS Jay Bellamy (elbow); C Jerry Fontenot (neck); DE Joe Johnson
(triceps)

New York Giants
Questionable: CB Will Allen (ankle); WR-KR Ron Dixon (ankle); DT Keith
Hamilton (shoulder)

New York Jets
Out: DE Shane Burton (calf); WR Wayne Chrebet (head); WR-KR Santana Moss
(knee)
Questionable: RB-KR Chad Morton (ankle)

Oakland Raiders
Doubtful: QB Bobby Hoying (elbow)
Questionable: G Mo Collins (leg); SS Marquez Pope (hamstring); T Barry Sims
(foot); RB Tyrone Wheatley (wrist/knee)
Probable: SS Derrick Gibson (hand)

Philadelphia Eagles
Questionable: WR Todd Pinkston (wrist); DT Corey Simon (concussion/neck)
Probable: DT Paul Grasmanis (Achilles); DE Ndukwe Kalu (ankle); WR Gari
Scott (ankle); RB Duce Staley (shoulder); T Tra Thomas (eye)

Pittsburgh Steelers
Questionable: CB Jason Simmons (hamstring)
Probable: FS Brent Alexander (hip); SS Myron Bell (hamstring); SS Lethon
Flowers (groin); T Marvel Smith (knee); DE Kimo Von Oelhoffen (groin); WR
Hines Ward (ankle)

St. Louis Rams
Questionable: RB Marshall Faulk (knee); FB James Hodgins (toe)
Probable: T Ryan Tucker (hand); DT Jeff Zgonina (thumb)

San Diego Chargers
Out: DT Maa Tanuvasa (ankle)
Questionable: FB Derrick Harris (hamstring); TE Freddie Jones (ankle); MLB
Carlos Polk (shoulder); OLB Junior Seau (groin)
Probable: SS Rodney Harrison (concussion); CB Alex Molden (knee); T Vaughn
Parker (hamstring)

San Francisco 49ers
Out: TE Greg Clark (hamstring); RB Jonas Lewis (groin); C Ben Lynch (ankle);
DT Reggie McGrew (ankle)
Questionable: C Jeremy Newberry (ankle)
Probable: SS Lance Schulters (shoulder); ILB Derek Smith (knee)

Seattle Seahawks
Out: RB Ricky Watters (shoulder)
Questionable: FS Marcus Robertson (hamstring); RB Charlie Rogers (toe); DE
Mike Sinclair (groin)

Tampa Bay Buccaneers
Questionable: RB Warrick Dunn (hamstring); OLB Jeff Gooch (shoulder); WR
Jacquez Green (groin); WR Keyshawn Johnson (hip flexor)
Probable: OLB Derrick Brooks (foot); FS Dexter Jackson (thigh)

Tennessee Titans
Out: WR Justin McCareins (ankle)
Questionable: WR Eddie Berlin (shoulder); FS Blaine Bishop (foot); DE Henry
Ford (ankle); MLB Randall Godfrey (thumb/wrist); QB Steve McNair (ankle); CB
Samari Rolle (neck); DT Joe Salave'a (shoulder); WR Chris Sanders (back); DT
John Thornton (shoulder)

Washington Redskins
Doubtful: TE Stephen Alexander (ankle)
Questionable: DE Bruce Smith (shoulder); CB Fred Smoot (knee)
Probable: C Ethan Albright (ankle); DE Marco Coleman (elbow); C Mark Fischer
(knee); DT Kenard Lang (ankle); OLB Antonio Pierce (groin)

/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/**/

Bryant Analytics, Inc.   All Rights Reserved 1999-2001

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Debra,  Please send Gary Bryan a sample master firm.  Thanks.

 -----Original Message-----
From: 	Denetsosie, Troy
Sent:	Wednesday, October 17, 2001 1:33 PM
To:	Bryan, Gary; Nemec, Gerald
Subject:	RE: Texas Independent Energy Contract

Gary, Jill gave me information about two (2) power plants.  See attached.

 -----Original Message-----
From: 	Bryan, Gary
Sent:	Wednesday, October 17, 2001 11:39 AM
To:	Denetsosie, Troy
Cc:	Nemec, Gerald
Subject:	Texas Independent Energy Contract

Troy, can you call Jill Mearz with TIE and get the same contract information for Gerald. Please forward the information to Gerald as well. Jill (972) 455-2980

Gerald, we are bidding on gas for several IPP's with this company. They are wanting to get a copy of our contract ASAP to begin the initial review process. When Troy forwards you the contract information what would be the turn around for a hard copy and email I could send them.


I think you'll find there isn't that much to a site sale.  Witness
Plano/Pontiac as compared to the Peakers.

	From:  Kathleen Carnahan                           03/08/2001 02:42 PM

To: Kay Mann/Corp/Enron@Enron, Carlos Sole/NA/Enron@Enron
cc:

Subject: Re: Midway

And this mean's ole Kathleen is going to be busting her ass!

K-
---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 03/08/2001
02:41 PM ---------------------------
From: Ann Elizabeth White@ECT on 03/08/2001 02:30 PM
To: Kathleen Carnahan/NA/Enron@ENRON
cc:

Subject: Re: Midway

Help me out here - what does he mean by "go live"?

	Kathleen Carnahan@ENRON
	03/08/2001 02:05 PM

		 To: Ann Elizabeth White/HOU/ECT@ECT
		 cc:
		 Subject: Midway

Hot off the press.

Kathleen
---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 03/08/2001
02:05 PM ---------------------------

	From:  Ben F Jacoby @ ECT                           03/08/2001 01:55 PM

Sent by: Ben Jacoby@ECT
To: Greg Krause/Corp/Enron@Enron, Raimund Grube/Corp/Enron@ENRON, Kathleen
Carnahan/NA/Enron@Enron, Fred Mitro/HOU/ECT@ECT
cc:

Subject: Midway

Folks:

Please note in my e-mail below that we need to go live with this by April 2.
This means that we all need to work together to make this happen. I would
like to see a comprehensive index of all documents we intend to include ASAP.
This list should include site plans and other drawings that we've spent a lot
of money on.

I look forward to reviewing this list.

Regards,

Ben
---------------------- Forwarded by Ben Jacoby/HOU/ECT on 03/08/2001 01:43 PM
---------------------------

	Enron North America Corp.

	From:  Ben F Jacoby                           03/08/2001 01:42 PM

Sent by: Ben Jacoby
To: Suresh Raghavan/Enron@EnronXGate
cc: Fred Mitro/HOU/ECT@ECT, Kathleen Carnahan/NA/Enron@Enron
Subject: Midway

Suresh:

This e-mail is to confirm that we will use DealBench for the marketing of our
Midway, FL site. Kathleen Carnahan and Fred Mitro will be the individuals on
my team responsible for coordinating the effort of collecting and organizing
documents to be placed on line. We need to go live with this by Monday, April
2. We would appreciate your help in making this happen.

Our cost center number for the $10,000 charge is 107319. Please let me know
if you have any questions.

Thanks,

Ben


Attached are the files you requested from the central desk.

Please add my name to your email list for P&L requests.  I am now the lead
for the Central desk.  Thanks.

If you have any further questions, please feel free to give me a shout.
PL
3-7376


FYI
---------------------- Forwarded by Richard Shapiro/NA/Enron on 12/01/2000
12:11 PM ---------------------------

"Biel, Eric" <EBiel@Fontheiminternational.com> on 12/01/2000 11:13:39 AM
To: "'Richard.Shapiro@enron.com'" <Richard.Shapiro@enron.com>
cc: "Painter, Sally" <SPainter@fontheiminternational.com>

Subject: RE: Options the Governor's Considering

Rick--many thanks for forwarding the messages and attachment to me.  Even
having been at the meeting, reading Steve's assessment of it was very
useful.  I certainly concur on the idea of pulling a short document
together; could you forward whatever is developed to Sally and me, so we'll
be in the loop on that?  Thanks.
Spoke with Kari Dohn last night.  She actually had to drop out of going with
Gray Davis to the Vicente Fox inauguration in Mexico City to stay behind and
work on electricity issues--that's how consumed they are by the whole thing.
Lots obviously happening every day out there--and on the FERC front.  Jeff
D. obviously is an extremely capable person to be following that closely.
I think Jeff and Kari will have a very productive meeting next Wed.--not to
say she is in a position to overrule others with different perspectives and
agendas, but she is smart, a good listener, and was very impressed with
Steve and Jeff last Monday, so really does want to hear more on what Enron
thinks should and can be done to address all of the issues.  And she also
understands this is not just sophisticated technical advice; it also has a
political sophistication to it.
Anyway, thanks again, and look forward to being in touch regularly on this
and other matters.
Best, Eric

-----Original Message-----
From: Richard.Shapiro@enron.com [mailto:Richard.Shapiro@enron.com]
Sent: Thursday, November 30, 2000 1:56 PM
To: Jeff.Dasovich@enron.com
Cc: ebiel@fontheiminternational.com
Subject: Re: Options the Governor's Considering

thanks

From: Jeff Dasovich on 11/30/2000 11:19 AM

Sent by:  Jeff Dasovich

To:   Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Paul
      Kaufman/PDX/ECT@ECT, Sandra McCubbin/NA/Enron@Enron, Susan J
      Mara/NA/Enron@ENRON, James D Steffes/NA/Enron@Enron, Karen
      Denne/Corp/Enron@ENRON
cc:

Subject:  Re: Options the Governor's Considering  (Document link: Richard
      Shapiro)

FYI:  Set up a meeting with Kari Dohn for next Wednesday.

                    Steven J Kean

                                         To:     Jeff
Dasovich/NA/Enron@Enron
                    11/27/2000           cc:     Alan Comnes/PDX/ECT@ECT,
Jeff Dasovich/NA/Enron@Enron, Joe
                    09:22 PM             Hartsoe/Corp/Enron@Enron, Karen
Denne/Corp/Enron@Enron, Mary
                                         Hain/HOU/ECT@ECT, Mona L
Petrochko/NA/Enron@Enron, mpalmer@enron.com,
                                         Paul Kaufman/PDX/ECT@ECT, Richard
Shapiro/NA/Enron@Enron, Sandra
                                         McCubbin/NA/Enron@Enron, Sarah
Novosel/Corp/Enron@Enron, skean@enron.com,
                                         Susan J Mara/NA/Enron@Enron, Tim
Belden/HOU/ECT@ECT, David
                                         Parquet/SF/ECT@ECT

                                         Subject:     Re: Options the
Governor's Considering(Document link: Jeff
                                         Dasovich)

Jeff Dasovich and I, along with several IEP members, met with Gov Davis'
staff today, including his Chief of Staff, his Staff Director and two
policy advisors on energy issues.  They made the following points:

     The Governor is personally spending a great deal of time on
     electricity issues (and is forcing them to spend their time on it as
     well).
     The Governor recognizes that part of the problem is a supply shortage,
     but they put special emphasis on the view that in addition to supply
     shortfalls, a big part of the problem is a "dysfunctional market" -- a
     thinly veiled reference to price manipulation by people sitting in the
     room.
     The Governor's view is that all participants (regulators, utilities,
     customers and generators) must "behave responsibly".
     Everyone must "share the pain".
     The legislative battles are likely to start as soon as the legislature
     returns next week, and the Governor will be putting forth several
     legislative proposals in the next couple of weeks.
     While staff went out of its way to say that the list of proposals (in
     the attached e-mail) were unofficial and for discussion purposes only,
     it was fairly clear that they defined much of what the governor plans
     to propose.

The meeting was not very encouraging nor did it provide much in the way of
new information.  The IEP group was on message, making the usual arguments
about the need for forward contracting, expedited generation and
transmission siting, a real retail market to promote demand side responses,
etc.  The staff is clearly focussed on forward contracting as part of the
solution but remains committed to the idea that generators have to cough up
some money and remain subject to rate caps, possible restrictions on sales
outside the state (at least at peak times), etc.  One approach they appear
to be toying with is a "share the pain" proposal which would have utilities
absorbing some of the deferred costs and consumers absorbing some of the
deferred costs in the form of higher rates.  That leaves generators ... who
they might want to either agree to some refunds or provide power at lower
going-forward prices.

The staff says that they remain open to proposed solutions, but the Davis
administration appears unwilling to spend any political capital to fix the
problem.

I think we are in for a lengthy legislative and PUC fight.  We should, as
always, provide consistent and reasonable solutions.  I think we should
prepare a document for distribution to staff, legislators (and anyone else)
that takes the factual background and proposed solutions we have put
forward (eg in Belden's presentation and the Seabron Adamson whitepaper)
and wraps them in a more political context.  In other words, we have
already articulated the right answers; we now need to put a political
rationale around our proposals -- a set of arguments which responds
directly to the political opposition those answers are likely to encounter.
Jeff will follow up with one of the staff members in particular (Kari Dohn)
and I would suggest that Jeff and Sandi work together on putting the
necessary political rhetoric around the solutions we have proposed.

                    Jeff Dasovich

                    Sent by: Jeff        To:     skean@enron.com, Richard
Shapiro/NA/Enron@Enron, Paul
                    Dasovich             Kaufman/PDX/ECT@ECT, Sandra
McCubbin/NA/Enron@Enron, Mona L
                                         Petrochko/NA/Enron@Enron, Susan J
Mara/NA/Enron@ENRON, Joe
                                         Hartsoe/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, Sarah
                    11/22/2000           Novosel/Corp/Enron@ENRON,
mpalmer@enron.com, Karen
                    04:00 PM             Denne/Corp/Enron@ENRON, Alan
Comnes/PDX/ECT@ECT
                                         cc:

                                         Subject:     Options the Governor's
Considering

Steve:  FYI.  Don't worry about the conference call, but thought it might
be useful to review the proposals prior to Monday's meeting.

See you Monday.

Happy Thanksgiving to all.

Best,
Jeff

****************************************************************************
****************************************

Several  IEP  companies  have been invited to a meeting with the Governor's
staff next Monday, November 27th.

The following are some options, which the Governor's office is considering.
IEP  is doing some preliminary research on some of these topics.  IEP would
like  to arrange a teleconference call around noon on Monday, November 27th
to  discuss  the  Governor's  meeting.  Please advise us as to whether your
have been invited, and who you are sending.

California's  electricity supply situation has two inter-related problems ?
(1) high wholesale electricity costs, and (2) marginally adequate supply of
generation  ?  both  have  combined  to  create  a  dysfunctional wholesale
electricity market.  The goals should be:

     To  assure reliable electricity to California consumers for the lowest
reasonable cost.

o    Consider requiring that all in-state generation be sold in state.
o    Consider re-asserting state authority over the operation, maintenance
and safety practices of all in-state generating facilities' for public
health and safety purposes.
o    Consider developing a state power authority to build generation and
own/operate transmission.
o    Consider requiring utilities both to retain existing and to build new
generation.
o    Consider providing utilities with authority to stabilize retail prices
to be paid by consumers through development of an energy portfolio that
reduces exposure to spot markets, including contracting forward for much
more of their unmet power needs.
o    Consider extending consumer rate freeze.
o    Consider centralizing power plant dispatch like the other ISOs in the
rest of the country.
o    Consider eliminating the ISO and assigning its functions to either a
state or private entity that can acquire the transmission facilities, and
control the electricity transmission grid (MUNIs have proposed this).
o    Consider sponsoring/supporting legislation to change the ISO and PX
boards to increase accountability.
o    Expand energy conservation programs focused both on immediate peak
demand reduction and on longer term, broader-based programs.
o    Aggressively work to site new generation and transmission facilities,
to streamline permitting, and to develop renewable resources.
o    Call for/sponsor federal FERC reform legislation that would:
o    Impose a regional price cap that varies by time of day and year;
o    Set requirements for FERC to use its retroactive refund authority;
o    Improve FERC enforcement over price gouging practices;
o    Affirm the role of states to protect their customers from unjust
prices.
o    Pressure the FERC to do its job to (1) bring about responsible seller
behavior in wholesale electric markets through price controls and other
market interventions as necessary, and (2) provide refunds to affected
consumers.
----- Forwarded by Jeff Dasovich/NA/Enron on 11/22/2000 03:44 PM -----

                    Susan J Mara

                                         To:     "CHUDSON" <carol@iepa.com>

                    11/22/2000           cc:     "Andy Brown \(E-mail\)"
<abb@eslawfirm.com>, chudson@iepa.com,
                    03:05 PM             "Curtis Kebler \(E-mail\)"
<curtis_l_kebler@reliantenergy.com>, "Delaney
                                         Hunter \(E-mail\)"
<dhunter@smithandkempton.com>, "Greg Blue \(E-mail\)"
                                         <gtbl@dynegy.com>, "Jack Pigott
\(E-mail\)" <jackp@calpine.com>, "Jeff
                                         Dasovich \(E-mail\)"
<jdasovic@enron.com>, "Joe Ronan \(E-mail\)"
                                         <joer@calpine.com>, "John Stout
\(E-mail\)"
                                         <John_H_Stout@reliantenergy.com>,
jparker@HMOT.com, "Katie Kaplan
                                         \(E-mail\)" <kaplan@iepa.com>,
kelly@hnks.com, "Kelly Norton \(E-mail\)"
                                         <knorton@mcnallytemple.com>, "Lynn
Lednicky \(E-mail\)"
                                         <lale@dynegy.com>,
marie_moretti@msn.com, mrmonagan@aol.com, "Bob
                                         Weisenmiller \(E-mail\)"
<rbw@mrwassoc.com>, "Bob Escalante \(E-mail\)"
                                         <rescalante@riobravo-gm.com>, "Rob
Lamkin \(E-mail\)"
                                         <rllamkin@seiworldwide.com>, "Jan
Smutny-Jones \(E-mail\)"
                                         <smutny@iepa.com>, "Steven Kelly
\(E-mail\)" <steven@iepa.com>, "Susan J
                                         Mara \(E-mail\)"
<Susan_J_Mara@enron.com>, "McNally Temple Assn. Inc.
                                         \(Business Fax\)"@mail.cwo.com

                                         Subject:     Re: (Document link:
Jeff Dasovich)

Jeff Dasovich and Steve Kean are attending.  Someone can be on a call -- me
if no one else -- if Jeff and Steve are travelling at the time. Hey, does
the Governor have to fly coach?

                    "CHUDSON"

                    <carol@iepa.c        To:     "Katie Kaplan \(E-mail\)"
<kaplan@iepa.com>, "Jeff Dasovich
                    om>                  \(E-mail\)" <jdasovic@enron.com>,
"Kelly Norton \(E-mail\)"
                                         <knorton@mcnallytemple.com>, "John
Stout \(E-mail\)"
                    11/22/2000           <John_H_Stout@reliantenergy.com>,
"Curtis Kebler \(E-mail\)"
                    12:47 PM
<curtis_l_kebler@reliantenergy.com>, "Rob Lamkin \(E-mail\)"
                                         <rllamkin@seiworldwide.com>, "Bob
Weisenmiller \(E-mail\)"
                                         <rbw@mrwassoc.com>, "Susan J Mara
\(E-mail\)" <Susan_J_Mara@enron.com>,
                                         "Andy Brown \(E-mail\)"
<abb@eslawfirm.com>, "Bob Escalante \(E-mail\)"
                                         <rescalante@riobravo-gm.com>, "Greg
Blue \(E-mail\)" <gtbl@dynegy.com>,
                                         "Jack Pigott \(E-mail\)"
<jackp@calpine.com>, "Jan Smutny-Jones
                                         \(E-mail\)" <smutny@iepa.com>, "Joe
Ronan \(E-mail\)" <joer@calpine.com>,
                                         "Lynn Lednicky \(E-mail\)"
<lale@dynegy.com>, "McNally Temple Assn. Inc.
                                         \(Business Fax\)"@mail.cwo.com,
"Steven Kelly \(E-mail\)"
                                         <steven@iepa.com>, "Susan J Mara
\(E-mail\)" <Susan_J_Mara@enron.com>,
                                         <mrmonagan@aol.com>,
<marie_moretti@msn.com>, "Delaney Hunter \(E-mail\)"
                                         <dhunter@smithandkempton.com>,
<kelly@hnks.com>, <jparker@HMOT.com>,
                                         <chudson@iepa.com>

                                         cc:

                                         Subject:

Jan Smutny-Jones, Exec Dir
Independent Energy Producers Assn.
1112 I Street, Suite 380
Sacramento, CA 95814
PH: 916-448-9499
FX: 916-448-0182
iepa@iepa.com

(See attached file: Govs meeting Conf Call.doc)


What is the website for the fundamentals?  Do you have to get a security
access?