Attached are the recipes for the Church Gourmet Dinner.  I've got you down
tor the pork chops (Alicia says  to make it a mix of pork and chicken).  All
the recipes looked really good, so I thought you might want to look at them
anyway.

The directions to my house are as follows:

1.  Take 59 and exit Greenbriar like you are going to Church
2.  First light is Bissonnet, make a left on Bissonnet.
3.  Stay on Bissonnet for about 1/2 mile.  On the right you will see a gray
apartment complex called "Maryland Manor".  The street right there is
"Ashby", make a right on Ashby.
4.  The first left is Wroxton Court.  I am in the upstairs of the duplex at
1714 Wroxton Court, but you probably will just want to walk around to the
back yard.

My phone no. is case there are any problems is (713) 529-1038.  I look
forward to seeing you there!

 - Black Bean Dip.doc
 - RoastRdPepperDip.doc
 - Cheesy Herb and Garlic Bread.doc
 - ShrimpGazpacho.doc
 - PorkChopsMangoBasilSauce.doc
 - ScallopedPotatoes.doc
 - DeathbyChocolate.doc


Attached please find the Natural Gas market analysis for today.

Thanks,

Bob McKinney

 - 11-27-01 Nat Gas.doc


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darling, you must think i am perfectly insane, and i probably am, but i
couldn't possibly sneak out tomorrow, this week is just too insane, can we
please hook up next week? i'm going to LA for work early next week, so maybe
we can lunch or coffee on thursday or friday? and guess the fuck what? i got
an art studio! in SF! and it's cheap! and i can ride my bike there! it's
truly amazing, and i have raphael to thank for having good connections and
this is indeed a very very very good thing cuz it makes me happy......!

-----Original Message-----
From: jdasovic@enron.com [mailto:jdasovic@enron.com]
Sent: Wednesday, September 06, 2000 7:07 PM
To: Colleen Silva
Subject: RE:

ferget it.  i'm just as swamped.  i don't care if you've got a goddamed
boyfriend and a busy job.  friday we're having coffee.  for 30 rotten
minutes.  you name the place and the time.

hugs and kisses,
jeff

Colleen Silva <Csilva@redsky.com> on 09/06/2000 04:17:16 PM

To:   "'jdasovic@enron.com'" <jdasovic@enron.com>
cc:
Subject:  RE:

next week would probably be best, as i am swamped with hundreds of emails
and my project/beast... how are you and how is school?

-----Original Message-----
From: jdasovic@enron.com [mailto:jdasovic@enron.com]
Sent: Wednesday, September 06, 2000 1:56 PM
To: Colleen Silva
Subject: RE:

i expected as much.  and lunch?

Colleen Silva <Csilva@redsky.com> on 09/06/2000 03:50:49 PM

To:   "'Jeff Dasovich'" <jdasovic@enron.com>
cc:
Subject:  RE:

burning man was lofty, writer's conference was total debauchery, of course
i'm famous now...

-----Original Message-----
From: Jeff Dasovich [mailto:jdasovic@enron.com]
Sent: Tuesday, September 05, 2000 5:04 PM
To: Colleen Silva
Subject:

did you burn the man?  are we having lunch?  are you famous now?


Folks-
I had a couple of you request a call in for tomorrow's meeting. I have
secured a much better conference call system for that room so we should be
able to hear you and vice versa.

Call in #: 1-888-727-8686
Code: 3489598

The meeting will begin promptly at 10:00. Just in case you need something
call me on my cell 916-284-5509.

Thanks,
Delaney


Here's the final with the changes that we discussed incorporated.  Steve,
give it one last quick read---I made a few other minor editorial comments.
Maureen:  It will need to be fixed at the end for Steve's signature.  If
there's anything else just holler.

Best,
Jeff


fyi

 -----Original Message-----
From: 	Presas, Jessica
Sent:	Wednesday, December 05, 2001 7:43 AM
To:	Miller, Stephanie
Subject:	RE:

Yes

 -----Original Message-----
From: 	Miller, Stephanie
Sent:	Tuesday, December 04, 2001 2:41 PM
To:	Presas, Jessica
Subject:	RE:

did you send this to Louise and John L?

 -----Original Message-----
From: 	Presas, Jessica
Sent:	Tuesday, December 04, 2001 11:46 AM
To:	Miller, Stephanie; Ward, Kim S (Houston); Polsky, Phil; Bronstein, Mara
Subject:

You can reach Barry at the Westin Regina Resort at (998) 848-7400 in room 1907.


Hi Taffy,

Did the Pompano Beach meeting get scheduled?

Kay


Attached are the RSVP lists for tonight's reception.

Enron/Azurix

City Officials

DETAILS OF TONIGHT'S RECEPTION:

Monday, July 31st from 6-7 pm in the 50th floor lobby area.
This reception is an opportunity for us to update city officials about Enron,
s businesses, and an opportunity for you to meet your local representatives.


Hello all:

Here are two new ISDA's for Le Norman Partners, LLC and Wynn-Crosby 1998,
Ltd. If you have any questions, please feel free to call.

Best Regards,

Brad


----- Forwarded by Mark Taylor/HOU/ECT on 02/27/2001 08:27 PM -----

	Stacy Carey <SCAREY@ISDA.ORG>
	02/26/2001 06:58 PM

		 To: US REGULATORY COMMITTEE <USREGCOMM@isda.org>
		 cc:
		 Subject: Letter to House Rules Committee Supporting Netting Amendment

The Bond Market Association and ISDA have circulated the attached letter in
support of our amendment package to other trade associations asking for
their decision about joining the letter by noon tomorrow.  The purpose of
the letter is to signal widespread support for the netting amendment
package.  It has been proposed that individual firms also have the
opportunity to sign the attached letter. To that end, would you please let
me know if your firm will be or will not be in a position to sign the letter
tomorrow.  Many thanks --   Stacy

 <<Dreier Netting Letter.doc>>

Stacy Carey
Director North American Regulatory Policy
International Swaps and Derivatives Association
(202) 457-6545 ph
(703) 256-1833 fax
(917) 543-9622 cell
scarey@isda.org

 - Dreier Netting Letter.doc


Greetings:

Due to scheduling conflicts and in the attempt not to waste anyone's time,
we'll try to conduct some preliminary due diligence via email, voicemail,
etc.  I've asked GP to get us their audited financial statements for purposes
of credit check.  Here is some additional information about the project.  If
any questions come to mind based on this info, please let me know and we can
forward along to GP for answers.  At this point we have tentatively scheduled
a meeting with GP's CEO in the S.F. office for Tuesday, June 27th at 10 AM
(PDT).

A Little Background:
Plan to construct an undersea fiber optic (24 fiber) cable linking several of
California's major coastal cities (San Diego, L.A., Santa Barbara, San Luis
Obispo, Monterey, S.F.). Will use a "festooned" arrangement (i.e., exit sea
at each city point).  Total undersea length is ~900 km.
At each coastal city, they'll have a POP to connect to PSTN.
At San Luis Obispo, Santa Barbara and Manhattan Beach, they will deploy two,
separate diverse cable routes from sea to POP.
Will deploy DWDM.
Plan includes eventual connections to existing and planned trans-Pacific
systems.
In addition to "loops" created in SLO, SB and Manhattan Beach, plan includes
a terrestial leg from S.F. to Monterey to create a land/sea loop between SF
and Monterey.
Total terrestial piece is ~400 km (which includes S.F. to Monterey terrestial
leg).
Eventually, they'd like to secure terrestial leg from Monterey to San Diego
to create a complete loop.
Has received environmental permit from State Lands Commission; CLEC
certification from California PUC; and is awaiting environmental permit from
Coastal Commission.
Expect to have southern portion of system (San Diego to San Luis Obispo)
built and lit by end of Q1 2001.
Northern piece likely to take longer due to complications associated with
federal wildlife preserve off of Monterey.  May end up bypassing Monterey
altogether.
The people behind the build are techno-philes; they admit to being "clueless"
when it comes to marketing the capacity.
Due to Tyco's perceived lack of performance, Tyco is out and Alcatel is in
(per Ethan's emails).
They are distressed.  Deutschbank has $8MM in the deal and is pushing on them.
Willing to part with dark fiber for a deep discount.

Best,
Jeff


In addition:  expert clauses - which ones need to be changed, when and why -
what are reversals and why we use them - how to check physical prompt month
value for potential errors - how to calculate physical prompt month value -
checking the OA Flash tab.  I am sure there are some others.

DG
---------------------- Forwarded by Darron C Giron/HOU/ECT on 11/17/2000
09:21 AM ---------------------------

	Enron Capital Management

	From:  David Baumbach                           11/17/2000 09:19 AM

To: William Kelly/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, Jeffrey C
Gossett/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON
cc:
Subject: Re: Class

Topics should include:  NX3 roll-off, the curveshift associate with basis NX3
roll-off and where it will show up on the p&l, what days we will roll in
index - the percentages, how to adjust percentages for fixed priced prompt
month positions, when to bring in prompt month value, how to put liquidations
in the physical P&L, how to roll the physical and financial p&l's, etc.

Any suggestions?

Dave

	From:  William Kelly                           11/17/2000 08:59 AM

To: Kam Keiser/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT, Darron C
Giron/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON
cc: Jeffrey C Gossett/HOU/ECT@ECT
Subject: Class

Our next class will combine EOM bench/NGP&L and P&L procedures.  We will hold
the class Tuesday @ 9:30 and combine both groups 1&2 for one class.  Jeff
would like to go over the bench and NGP&L process for 45 minutes or so, and
the rest of the class will be handled by Dave and Kam.  I will leave it to
you 2 to decide who will talk about what.  Lets get together on Monday to
brainstorm.

WK


Cal Berkeley
General Presentation
Monday, October 16th

This note is to confirm that you are scheduled to attend the Cal Berkeley
General Presentation on Monday October 16th.  This e-mail should contain any
information that you need to know pertaining to your trip.  Please print out
a hard copy and bring with you in case of emergency.  If you have any
questions, there is a list of contacts listed below.

Once again, thank you for offering to help with technology recruiting at Cal
Berkeley.  See you on campus!

Lara

The General Presentation will be held:

Monday, October 16th
The Faculty Club
Seaborg Room - 2nd Floor
7:00 p.m. to 9:00 p.m.
**Please plan on arriving at the General Presentation by 6:00 p.m.

The General Presentation is designed to educate the students on Enron and the
Global Technology Track.  Following the presentation we will invite the
students to ask questions about Enron and the Global Technology Track.
Please plan to arrive at the General Presentation by 6:00 p.m.  It is
business casual attire.

FLIGHT ARRANGEMENTS:

You are responsible for scheduling your own flight arrangements with your
preferred airline provider.  Please schedule your flight to arrive to the San
Francisco airport on Monday, October 16th.   Please remember that there can
be significant traffic over the Bay Bridge and to get into town at least an
hour prior to the event.  Please make all flight arrangements through the
Travel Agency in the Park so that we are able to take advantage of discount
fares.  If you do not have a representative that you currently use at the
Travel Agency in the Park - feel free to contact Liz Mendiola at 713-860-1140.

RENTAL CAR ARRANGEMENTS:

Once again, you are responsible for scheduling your own rental car
arrangements with your preferred provider.  Your Travel Agency in the Park
representative should be able to assist you with rental car reservations.

HOTEL ARRANGEMENTS:

Hotel reservations are currently being made by our representative at the
Travel Agency in the Park.

As soon as we have confirmation numbers, I will let you know.

San Francisco Airport to The Faculty Club

Take 101 Northbound
Exit to San Francisco/Oakland Bay Bridge
Exit to 1-80 East
Exit on University Ave.
East on University Avenue for 1.5 miles to Oxford St.
Right on Oxford St., left on Durant Ave., left on Piedmont
You will see parking on the right side

Once again, thank you so much for helping with the General Presentation.
Below are some last minute tips to keep in mind:

Please remember to dress business casual.
Please remember to bring some business cards for students.
I have attached a pdf version of the Global Technology Track  brochure.
Please forward all expense receipts to Grace Garcia.  She will handle any
expenses incurred for this recruiting trip including: flight costs, hotel,
car, food, valet, etc.  However, you must turn in some sort of receipt - so
be sure and save them!

Ashley Baxter   work:  713-853-3589
    cell:  281-793-0567

Lara Berry   work:  713-345-8320
    cell:  713-857-1034

Grace Garcia   work:  713-853-7252

Simone Lewis   work:  713-853-1645


Hi E,
?
I think you made a good choice.? That was my  first one.? I just saw this
page on Amazon for the lst time.? Looks  like we were looking at the right
cameras.? I'm still looking for  accessories but I haven't seen any
recommendations.? LU-M

?http://www.amazon.com/exec/obidos/tg/feature/-/49905/102-7505408-6121730
 - Amazon.com Digital Cameras.url


Good morning, everyone, the extra hour of sleep makes you feel good?!
Just let you know that my new # is x56539, feel free to contact me
if you still need help with any applications I developed for you.
Have a good day. Yan


mark:
what are your thoughts on crude and gasoline?

"Mark Sagel" <msagel@home.com> on 05/13/2001 09:23:02 PM
To: "John Arnold" <jarnold@enron.com>
cc:
Subject: Natural gas update

Latest natural report
 - ng051301.doc


Leslie et al.

Joe Hartsoe asked me to review this.  Please include me on future
distributions re: CA gas issues.

My suggestion is to weave in some "facts" on why prices are where they are.
The easiest and most defensible way to do this would be to insert quotes from
the CEC's recent analysis.  Although the CEC is certainly not beyond
reproach, it generally has been pretty evenkeeled on fuels matters.  CEC
states that fundamentals--i.e., high EG demand (due to demand growth and
reduced hydro), and a lack of take away capacity--is the cause of high prices
and (by implication) NOT due to capacity release.  They also make statements
that these fundamentals are working themselves out: increased drilling, new
interstate capacity, and (assuming CPUC support) increased intrastate
capacity.

The attached file includes some salient quotes and page references.  The CEC
report is available at www.energy.ca.gov/publications.

Even if you do not use for this filing, the excerpts should help for any
other materials we are putting together.

Alan Comnes

 -----Original Message-----
From:  Alvarez, Ray
Sent: Wednesday, May 30, 2001 12:08 PM
To: Comnes, Alan
Subject: Draft comments on FERC's proposal to reimpose price caps on capacity
release transactions

FYI
---------------------- Forwarded by Ray Alvarez/NA/Enron on 05/30/2001 03:07
PM ---------------------------
From: Leslie Lawner on 05/30/2001 01:52 PM CDT
To: James D Steffes/NA/Enron@Enron, Jennifer Thome/NA/Enron@Enron, Rebecca W
Cantrell/HOU/ECT@ECT, Donna Fulton/Corp/Enron@ENRON, Joe
Hartsoe/Corp/Enron@ENRON, Ray Alvarez/NA/Enron@ENRON, Christi L
Nicolay/HOU/ECT@ECT, Paul Kaufman/Enron@EnronXGate, Jeff
Dasovich/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Sandra
McCubbin/NA/Enron@Enron
cc: Jane M Tholt/Enron@EnronXGate, Harry Kingerski/NA/Enron@Enron, Gloria
Ogenyi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Draft comments on FERC's proposal to reimpose price caps on capacity
release transactions

Comments are due by 6/11 on the FERC order proposing to reimpose price caps
on short term capacity releases into the CA markets.  This is in response to
the complaints filed by SDG&E and LADWP to deal with the high gas prices in
CA and both parties requested this relief.  The attached first draft is the
ENA/EES response to the FERC request for comments.  Please review and return
comments, etc. to me and Becky so we can coordinate the changes.  And please
forward to anyone I may have left out who should have been included above.

    << File: pricecapcomments.doc >>


I would like to have the following 2 speed dials added to Page 10,

CES
DALP
703-561-6469

CES
DOUG
703-561-6339

thanks


The following expense report is ready for approval:

Employee Name: Beverly K. Miller
Status last changed by:  Automated Administrator
Expense Report Name: Nov. Home Pilot
Report Total: $94.83
Amount Due Employee: $94.83

To approve this expense report, click on the following link for Concur Expense.
http://expensexms.enron.com


These deals have a contact name - Don Imamura - in them now. I asked Tracy
Ngo, our credit person, about NCPA's credit status, and she said that since
they've been done, it's now a matter of risk management or damage control -
if it should even come to that. At any rate, the deals are good and now have
contact info.

Thanks,
kate

	From:  Sharen Cason                           02/08/2001 02:00 PM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: NCPA

There are 4 deals for Northern CA Power Agency and they have wonderful notes
about confirming them together.  However, I need a contact name, and isn't
NCPA on the credit watch list?

Thanks!


ISDA PRESS REPORT - MAY 3, 2001

*  ISDA lobbies FASB on swaps - Financial Times
*  Corporates warm to charms of credit derivatives - Reuters
*  Fed Proposes Rules On Derivatives, Intraday Lending - Dow
Jones
* Banks urged to improve credit, operational risk disclosure - IFR
* Argentina crisis default swap ripples contained - IFR
*  Fed Proposes First-Ever Regulation To Govern Limits on
Affiliate Transactions - BNA

ISDA lobbies FASB on swaps
Financial Times - May 3, 2001
By Vincent Boland

The International Swaps and Derivatives Association has expressed concern
that proposed changes to US accounting standards and tax regulations could
have a negative impact on swaps transactions. In a submission to the US
Federal Accounting Standards Board, ISDA said that definitions of
liabilities and equity as "residual interest" were adequate and that it had
asked the FASB to reconsider proposed changes and to retain the current
accounting model. It also said, in a submission to the Internal Revenue
Service, that it was concerned that proposed changes to hedging regulations
did not properly implement Congressional intent with regard to risk
management standards that qualify for hedging treatment.

Corporates warm to charms of credit derivatives.
Reuters English News Service - May 3, 2001
By Tom Bergin

European corporates are beginning to turn to credit derivatives, among the
more esoteric and complex of financial instruments, to hedge the risk their
debtors won't pay up, market participants said on Thursday.

Credit derivatives are insurance-like tools that allow users to hedge the
risk of default on a debt. They are mainly used by banks, hedge funds and
insurance companies to hedge or gain exposure to the risk of a bond issuer
defaulting.

Dealers said an environment of deteriorating credit quality and a growing
awareness among corporates that credit derivatives offer certain advantages
over established hedging tools was behind the increasing use of the
instruments.

The market remains small, with only around a dozen non-financial European
corporates regularly using credit derivatives to manage their credit
portfolio at present. But market professionals predict they will one day
become as commonplace in the corporate world as other hedging tools such as
interest rate swaps and currency options.

"We see (corporate use) as a big growth area for credit derivatives, maybe
the biggest," says Bryan Seyfried, vice-president of Enron Credit in London.

Enron Credit grew out of the efforts of energy company Enron Corp. to hedge
its own credit risk portfolio and now specialises in marketing credit risk
management solutions to other non-financial corporates.

Ralf Lierow, director of credit derivatives at Siemens Financial Services in
Munich, said the ability to buy and sell in a liquid market means credit
derivatives offer a flexibility that established tools like credit insurance
and forfaiting guarantees lack. Credit derivatives were are often cheaper
than the alternatives, too, he added.

"This is not a trading book thing. For us, the credit default swap is
another tool for credit risk management," Lierow said.

HELPS OPERATIONAL UNITS DO MORE BUSINESS

Siemens Financial Services acts as the centralised risk portfolio management
operation for companies within the Siemens electronics and industrial group.
It first started using credit derivatives in July 2000.

Large companies like Siemens can have hundreds of millions of dollars in
receivables on their books at any time. The efficiency with which these
companies manage the credit risk on their receivables has an impact on their
day to day business.

"The advantage for the operative area is that they can offload more
receivables and do more business," Lierow said.

Siemens uses credit default swaps , the most liquid type of credit
derivatives, to hedge its portfolio of debtors on a constant basis. As the
balance of cash owed by each name fluctuates over time, the company tries to
match this with default swap positions. Hence, if a customer fails to pay,
Siemens can recoup the debt from the default swap seller.

Other companies use credit derivatives less frequently.

"There are occasional corporate users that have secured one-off requirements
for balance-sheet management aims or to strip out the credit risk of a
commercial transaction," said Walter Gontarek, head of global credit
products at RBC Dominion Securities.

By hedging a country or company risk which a corporate may not be
comfortable in carrying, a credit derivative can facilitate a project that
may otherwise be unfeasible, dealers said.

NOT PUT OFF BY BAD PRESS

Corporates' adoption of credit derivatives is in spite of the negative
publicity the instruments have received in recent years. A number of
disputes over whether protection buyers could force banks to pay up on
contracts have ended up in court. However, traders insist that subsequent
work done on contract documentation minimises the risk of such disputes in
future.

Nonetheless a very practical concern for corporates remains, in that credit
derivatives documentation was designed by bankers with sovereign and
corporate bonds in mind. The International Swaps and Derivatives Association
(ISDA) standard documentation for credit default swaps allows for a pay-out
in relation to defaults on bond payments but not on a private debtor's
failure to pay.

"We use the ISDA framework but we need it redrafted in specific ways to fit
our needs. You cannot take a standard contract and trade on it if you want
to hedge trade receivables," Lierow said. These amendments add to the cost
of the credit derivative.

Another problem that corporates face is the complexity of credit
derivatives. There is little experience of the instruments, which are barely
a decade old, in the corporate world. Siemens had to get its expertise from
the financial markets, hiring Lierow from Bankgesellschaft Berlin.

Clive Banks, UK head of derivatives sales to buy-side clients at Schroder
Salomon Smith Barney, said much of the effort in marketing credit
derivatives to corporates involves educating them about the products and the
risks involved.

"It's about explaining credit risk management and what kind of volatility
and cost having credit risk introduces," he said.

OUTLOOK PROMISING

Yet some corporates are beginning to take full advantage of their new tool.
Lierow said that Siemens, which currently only buys credit protection,
planned to start acting as a default swaps seller in the coming months.

He said selling would facilitate better matching of protection levels to
actual exposures, and would enable diversification of risk away from
industry sectors where the company's activities are concentrated.

"You could improve the portfolio mix by buying protection on automotives and
selling protection on pharmaceuticals," he said.

Fed Proposes Rules On Derivatives, Intraday Lending
Dow Jones - May 3, 2001
By Dawn Kopecki

The Federal Reserve Board Wednesday proposed regulations that would place
restrictions on intraday lending as well as on derivatives contracts between
banks and their affiliates.

The Fed is seeking public comment on the proposal, which would apply rule
23A of the Federal Reserve Act to derivatives contracts as well as to
intraday extensions of credit. The proposal is designed to limit a bank's
exposure to risk from an ailing affiliate.

Section 23A limits the ability of an insured depository institution to
extend credit to or purchase assets from an affiliate. It also establishes
collateral requirements for credit transactions between banks and their
affiliates.

Fed officials also proposed to extend rule 23B, which requires that
transactions between banks and their affiliates be on market terms, to
derivatives and intraday loans.

Under the interim rule, over-the-counter (OTC) derivatives contracts would
have to be collateralized and the terms of the contract would have to
reflect market prices. Banks would also have to have procedures in place to
handle derivatives transactions and intraday lending.

The interim rule, which is not yet final and could change, would go into
effect Jan. 1, 2002.

"Its primary goal will be to establish barriers protecting depository
institutions from the problems of a failing affiliate," said Anthony
Santomero, president of the Federal Reserve Bank of Philadelphia, in a
speech earlier this year. "Even with the best of intentions, this regulation
will prove difficult to codify and will be subject to close scrutiny."

The proposal was precipitated by legislation passed in late 1999 that
overhauled the U.S. financial service sector. The Gramm-Leach-Bliley Act
also required the Fed to issue rules by May 12 on derivatives transactions
done by banks.

The Federal Reserve Board also unanimously adopted a new rule that exempts
certain transactions between banks and their affiliates from those same
collateral standards as well as from other restrictions.

For example, loans made by a bank to an unaffiliated borrower that then uses
the loan to buy securities underwritten or sold by a brokerage affiliated
with the bank would be exempt from rule 23A.

Banks urged to improve credit, operational risk disclosure
IFR - April 28, 2001

International banks will need to increase credit and operational risk
disclosure to regulators, according to a report issued by the Bank for
International Settlements last week. "There is still a long way to go
compared with the current practice," said an official at the regulatory
body. Disclosure related to credit derivatives and banks' use of internal
credit risk rating methods, as well as disclosure of methods for measuring
and assessing operational risk was lacking, the BIS report found.

Fewer than half of the banks that use credit derivatives disclosed their
strategies and objectives for the use of such instruments, it noted.
Furthermore, only 18% of banks disclosed a breakdown of type of credit
derivative instrument used, notional and fair values, and the amount of
credit risk bought or sold, it added.

Similarly, few banks provided summary information on the quality of on and
off-balance sheet credit exposures based on internal ratings or external
ratings, the report said, noting that this is an area where disclosure could
be improved.
According to the report, less than one quarter of the banks described how
internal ratings are used in the bank's capital allocation process. The
adequacy of disclosure related to the use of internal ratings will be an
area of increased importance under the new Basle Capital Accord as banks
will need to qualify to allow their internal based approaches to be
considered, the BIS report said.

Overall, banks did disclose their objectives and strategies in using
derivatives to hedge risks, with 81% of banks disclosing their objectives
for the use of non-trading derivatives. Fifty-seven banks from the 11 Basle
Committee member countries took part in the survey conducted by the BIS
transparency working group.

The report found that while 96% of respondents disclosed their risk-based
capital ratio in accordance with the methods prescribed in the Basle Capital
Accord, only 30% provided all of the information relevant to understanding
how Basle requirements for market risk under internal models have been
calculated. Further, only half of those surveyed disclosed whether they had
an internal process for assessing capital adequacy and for setting
appropriate levels of capital.

The absence of existing guidance at the time of the study is the likely
reason for the poor marks for disclosure on operational risk management.
"They should see how their [operational risk management] practices compare
with guidance released in January," said a BlS official.

A discussion paper elaborating on the tenets of the Basle Committee's
January proposal is slated for release toward the end of the summer. The aim
of the paper will be to assist banks in their implementation of the final
proposal, which is due for release at the end of the year. The Basle
Committee in its most recent draft proposals indicated its intention to levy
an operational risk capital charge.

Although the BIS conducts annual reports on bank disclosure practices, the
1999 survey cannot be compared directly with previous surveys as its focus
shifted away from trading and derivatives to cover other areas such as
operational risk.

Argentina crisis default swap ripples contained
IFR - April 28, 2001

Argentine default swaps drove out last week, as the sovereign teetered on
the brink of a forced restructuring of its debt. The ripple effect on credit
default swaps in other Latin American sovereigns was limited, however, and
even Argentine quotes were well off their highs by the end of the week.
Investment grade corporate default swaps mostly fell on the back of a wave
of CDO portfolio position unwinds.

There was one-year Argentina default swap trade as high as 2,450bp last
Monday, but by the end of the week, the maturity was quoted at
1,225bp/1,725bp. For much of the week, the market was illiquid, with major
dealers saying that they would only come inside bid/offer spreads to do
client trades.

There was mild curve inversion in Argentina by the end of the week, with
two-year quotes at 1,lOObp/1,600bp, the five-year at 1,060bp/1,520bp, and
the 10-year at 1,000bp/1,400bp.

The basis between default swaps and the asset swap value of Argentine FRB
debt was very wide. For much of the week FRBs were trading at levels at
least 300bp tighter than the apparent realistic mid-point for default swaps.

Before the most recent crisis in confidence over Argentina's ability to
raise funds, and to maintain its currency peg to the dollar, its default
swaps were trading at levels tighter than the asset swap value of comparable
FRBs.

Brazilian default swap levels were not hit as hard as those in Argentina,
and Mexican credit protection swaps did not suffer contamination from
Argentina's troubles. There was one-year trading in Brazil default swaps
seen at least as high as 475bp, but quotes in the maturity at the end of the
week were at 360bp/430bp.

Brazil's default curve also remained positive - with the three-year at
620bp/695bp at the end of the week, the five-year at 660bp/740bp and the
10-year at 740bp/820bp.

The basis between the asset swap value of Mexican dollar debt and its
default swap prices remained at a comparatively tight 2Obp-30bp, which
indicated that there had been no aggressive move to buy default swap
protection, Its one-year default swap quotes were holding in at 100bp/135bp
at the end of the week, its three-year quotes at 200bp/240bp, five-year
prices at 250bp/290bp (there was trade at 273bp) and its 10-year prices at
280bp/320bp.

There was a sharp decline in credit default swap quotes for many of the most
liquid corporate names on the back of off-loading of CDO positions by some
of the bigger dealers. Telecoms and auto conipany quotes fell as a result of
this swap selling, with many benchmark quotes falling by 10bp or more last
Thursday.

British Telecom was one of the biggest movers, trading at least as low as
120bp in the five-year, having been l5bp higher the session before. Its
quotes were well offered on the back of the announcement of the replacement
of chairman lain ValIance, and talk of a o5bn rights issue to replace debt,
as well as the effect of the CDO selling.

France Telecom dealt at levels below 70bp in the one-year and its five-year
mid quotes fell below l20bp.

DaimlerChrysler saw five-year trading below lOObp, and its mid quotes were
approaching 9Obp by the end of the week, having started the week at 1 l5bp,
while Ford and GMAC both saw five-year trade as low as 83bp.

Not all investment grade corporate default swaps fell, however.

Carnival continued to be strongly bid on the back of hedging of its recent
convertible bond, which was increased by US$ lOOm to US$600m.

There was five-year default swap trading in Carnival seen at levels
including 8Obp.

Fed Proposes First-Ever RegulationTo Govern Limits on Affiliate Transactions
BNA - May 3, 2001
By R. Christian Bruce and Richard Cowden

The Federal Reserve Board unveiled one of its most important regulatory
projects in recent years on May 2 and asked for comment on a proposed
regulation that would implement key provisions in federal law limiting
transactions between banks and their affiliates.

As required by Congress, the Fed also released an interim rule to cover
aspects of those transactions and finalized another rule that addresses
exemptions from the law.

The proposed Regulation W marks the first time the Fed has formulated rules
implementing restrictions under Sections 23A and 23B of the Federal Reserve
Act, two of the most important laws for federally-insured banks.

Although the Fed has offered advice and interpretation before with respect
to Sections 23A and 23B, it has done so using legal rulings and advisory
letters geared to specific cases.

Now the Fed is updating those interpretations and putting all of the
information in one place. "The proposed Regulation W seeks to provide users
with a single, comprehensive reference tool for complying with and analyzing
issues arising under sections 23A and 23B," the Fed said.

Action in Three Parts
In its May 2 meeting, the Fed took three distinct actions. The Fed issued an
interim rule, effective Jan. 1, 2002, that requires banks to establish
policies and procedures to monitor and control credit exposure from intraday
credits and derivatives transactions with affiliates. Although the effective
date is delayed, banks are expected to get to work on the new policies and
procedures as soon as possible. The interim rule also clarifies that both
types of transactions are covered under Section 23B, which means that banks
will have to treat those transactions as "arms-length" transactions, just as
they would with any other third party. The Fed expressly declined to rule on
whether derivative transactions between banks and affiliates are covered
transactions under Section 23A;
asked for comment on the main text, the proposed new Regulation W, which
would incorporate many existing Fed pronouncements and interpretations
applying Sections 23A and 23B, as well as adding some important new
wrinkles; and issued a final rule setting out various transactions that are
eligible for exemption from Section 23A. The rule was originally proposed
June 11, 1998. In addition, the Fed is allowing opportunity for further
comment on some of the exceptions during the comment process for the
proposed Regulation W.

Why the Rule Matters
The Fed's three-part initiative is significant because Sections 23A and 23B
are important statutes that protect banks from losses due to transactions
with affiliated institutions, such as securities units or mortgage firms.

According to the Fed, the increasing scope and complexity of bank operations
in recent years sparked more requests for guidance, especially in connection
with Section 23A, which places quantitative limits on affiliate
transactions.

And if transactions with affiliates were important before, they are even
more important now. In 1999, Congress passed the Gramm-Leach-Bliley Act, the
financial services modernization law that was expressly crafted to allow
even broader affiliations between banks, securities companies, and insurance
firms.
The GLB Act, which also amended key provisions in sections 23A and 23B, gave
the Fed until May 12 to adopt rules addressing credit exposure in connection
with intraday credits and derivatives transactions with affiliated
institutions. The Fed accomplished that task by issuing the interim rule.

Finally, the rule is important because it could make things easier for
everyone involved, at least in theory. By crafting an implementing rule for
Sections 23A and 23B, the Fed will be able to consolidate its doctrine. In
addition, the rulemaking process gives bankers the opportunity to shape the
final version of the rule.

Early Reaction
Observers were still poring over the Fed's initiative late May 2, especially
the interim rule and the newly proposed Regulation W. They welcomed the
Fed's decision to delay the interim rule's effective date, saying the time
between now and Jan. 1, 2002, will be put to good use.

Sarah A. Miller, general counsel of the American Bankers Association
Securities Association, told BNA May 2 that the Fed "took a fairly
responsible approach," especially in terms of taking limited action in the
interim rule and leaving many of the tougher issues for the comment process.

Above all, she said, bankers hope that the rule, once finished, will provide
much-needed clarity with respect to Section 23A and Section 23B issues.
"We're elated that the rule is out," she said.
Miller also said the final rule on exemptions will be helpful, especially
provisions addressing certain loans to third parties. She said the ABASA has
been working for such changes since at least 1997. "This is something our
guys have been very much anticipating," she told BNA.

Definitions at Issue
Another analyst noted that the Fed gave a fairly narrow definition of
intraday credits in the interim rule, carving out exceptions for securities
clearing and settlement transactions on behalf of affiliates.

"Clearly, they didn't want to interrupt normal day-to-day dealings that
don't present any real risk," the analyst told BNA.

However, there was some disquiet over other aspects of the Fed's action. For
example, analysts said the interim rule defines "derivative transaction"
quite broadly, so much so that many transactions will fall under the
coverage of Section 23B. According to the Fed, "derivative transaction"
means "any derivative contract covered by the Board's capital adequacy
guidelines [which includes most interest-rate, currency, equity, and
commodity derivative contracts] and any similar derivative contract,
including credit derivative contracts."

Another potential sticking point is how the proposed Regulation W addresses
independent credit judgments under 12 C.F.R. 250.250, an interpretive rule.
The proposal establishes a bright-line quantitative test, but goes on to
give bank examiners significant discretion to decide whether a bank has
shown the independence required to gain a critical exemption under the rule.
Under the proposal, even if the bank meets the quantitative test, it may
still be denied the exemption if the examiner decides that the bank is
providing substantial and ongoing funding to the affiliate.

More Exemptions Could Be on the Way
The Regulation W proposal also allows bankers to comment on potential
additions to the exemptions in the final rule. One would involve purchases
by a bank of municipal securities from a broker-dealer affiliate that is
registered with the Securities and Exchange Commission, according to a Fed
staffer. Among other requirements, the municipal securities must be eligible
for purchase by a state member bank and must be rated by a nationally
recognized rating organization or it must be part of a pool of securities of
less than $25 million.
Another would allow certain companies to charter a new bank and transfer
assets to the new bank from affiliated institutions outside the restrictions
of Section 23A.

A third possible exemption would govern certain credit card transactions. A
Fed official explained a typical case in which the proposed exemption would
apply. "If a [bank] loan to a third party is pursuant to a general purpose
credit card, like a Visa or Mastercard, and the third party buys a product
from an affiliate of the bank, we're going to basically ignore that
transaction," he said.

Another Fed official said the purpose of the exemption was to accommodate
extensions of credit that are not designed to subsidize an affiliate of the
bank through transactions that elude the Sections 23A and 23B limitations.

Comments Due in 90 Days
The proposed rule applies to all federally-insured banks. However, even
though Congress has extended coverage of Sections 23A and 23B to savings
associations, the Office of Thrift Supervision (OTS) will have to craft its
own rule, the Fed said. OTS officials told BNA May 2 that they are studying
the Fed's proposal.

Comments on the proposal are due 90 days after it is published in the
Federal Register. All existing Fed interpretations and staff opinions remain
in effect until the new Regulation W becomes final.

Scott Marra
Administrator for Policy & Media Relations
ISDA
600 Fifth Avenue
Rockefeller Center - 27th floor
New York, NY 10020
Phone: (212) 332-2578
Fax: (212) 332-1212
Email: smarra@isda.org


Start Date: 4/5/01; HourAhead hour: 13;  No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040513.txt

---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 13 / Preferred:  12.00 / Final:  12.03)
  TRANS_TYPE: FINAL
  SC_ID: Wheelabrat
  MKT_TYPE: 2
  TRANS_DATE: 4/5/01
  UNIT_ID: MARTEL_2_AMFOR

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 13 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/5/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_SUNNY
  ENGY_TYPE: WHEEL


In order to ensure that all computer-related equipment is being properly
capitalized and not expensed in your RC, I would like to centralize the
purchase of equipment for Energy Operations.  Going forward, if you need to
purchase equipment for a new employee or need to upgrade your existing PC
and/or monitor, please send me an E-mail containing the following information:

Employee Name (indicate if the employee is new)
Location
Phone Extension
Equipment you would like to purchase
Existing system number if upgrading your PC

I have set up an RC exclusively to capture purchases of computer-related
equipment.  This will make it easier to properly capitalize these assets.

One more thing I need for each of you to do.  Please review your RC reports
for January 2000 and make sure that there aren't any PC purchases charged to
your RC.  You can find them in Cost Category 601 "Non-Capitalized Hardware
and Software".  If you had any charges in this category for equipment, please
forward a copy of your RC report to me as soon as possible so that I can work
with Brian Heinrich to have the charges reversed from your RC in February.

If you have any questions, please call me at Ext. 3-6343.  Thank you in
advance for your help to ensure that your RC does not go over budget for
purchases of equipment that should be properly capitalized.

Lisa Cousino
x3-6343


KEAVEY, PETER F,
?
You have been selected to participate in the Mid Year 2001 Performance
Management process.  Your feedback plays an important role in the process,
and your participation is critical to the success of Enron's Performance
Management goals.
?
To complete a request for feedback, access PEP at http://pep.enron.com and
select Complete Feedback from the Main Menu.  You may begin providing
feedback immediately and are requested to have all feedback forms completed
by Friday, May 25, 2001.
?
If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:
Houston:  1.713.853.4777, Option 4 or email: perfmgmt@enron.com
London:  44.207.783.4040, Option 4 or email: pep.enquiries@enron.com
?
Thank you for your participation in this important process.
?
The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."  Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.  NOTE: YOU WILL
RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.
?
Employee Name:
JOHNSON, LUCHAS


Attached for your further handling is the Annex B for the related transaction.  Let me know if you have any questions or need anything else.

Marie


Let's book Friday, July 21 for this lunch.  I will work on further details.
Thanks, Sharron.


I'm in a really sour mood.
I wish I wasn't so tired all of the time!
I don't think there is a minute in any day that I don't feel like I'm going to fall asleep.
It's the "pits"
I almost called last night around 10:00 pm to just talk, but I figured that I shouldn't bother anyone if I'm feeling sorry for myself.
I know I'm not real good at returning calls and following up on things.
My excuse is that I'm always exhausted
I feel like I must be doing something wrong since no one else seems to be like this.
I do appreciate your friendship, and regret everything you have to put up with!

ENE is down $1.42 right now!
No news that I know of?
The DOW is down (113) right now.
It appears that things may be escalating in Afghanistan.
I think the Special Forces are close.

Have fun at Jackson Hole!
Miss Ya!
Swig

Sorry this is so late.  I actually forgot to send it this morning???????????????????????/

-----Original Message-----
From: Legler, Michael J.
Sent: Wednesday, September 26, 2001 11:34 AM
To: Schwieger, Jim
Subject: Yo

How are you doing?
I'm in jackson hole right now.
the hotel is very nice and the weather is great.
i see ene is down $1.50 today!!

Not too much else happening. no offers on the house yet.

take care,
Mike


Thanks for your help!  I'll let you know what I learn.  SS


We got a call from Allegheny Energy Electric Cooperative complaining that we
have sent confirmations for deals that they do not have.  Could you check on
these two deals.  The broker paper has these deals with Allegheny Energy
Supply Company.

577363
577360

Thanks


Correct.  I just left you a voice mail re the termination.

 -----Original Message-----
From: 	Anderson, Diane
Sent:	Tuesday, October 02, 2001 10:30 AM
To:	Heard, Marie
Subject:	RE: Torch assignment

So, is it true that the underlying new deals do not become effective until the assignments are signed?

 -----Original Message-----
From: 	Heard, Marie
Sent:	Monday, October 01, 2001 1:12 PM
To:	Anderson, Diane
Subject:	RE: Torch assignment

Diane:

We just sent drafts to Torch as they needed to send them to UOM, Dynegy and Sempra for review.  When we get them signed, I'll distribute copies.

Marie

 -----Original Message-----
From: 	Anderson, Diane
Sent:	Monday, October 01, 2001 12:43 PM
To:	Heard, Marie
Subject:	Torch assignment

Hey Marie,

Got the Torch assignments you sent down.  Thanks.  Question for you:  Did someone from ENA sign all the Assignment and Assumption Agreements before you sent them to Torch? (the copies I have aren't signed) Or do we sign them when they come back executed by Torch?

Thanks,
Diane


Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 07/25/2001 07:51 AM -----

	"Norman Plotkin" <nplotkin@rcsis.com>
	07/24/2001 06:28 PM

		 To: <arem@electric.com>
		 cc:
		 Subject: legislative activity

All:
The word from the Assembly is that there will be amendments to SB 78, which
will be the vehicle addressing the Edison bailout, on Thursday, a hearing on
Friday and Floor Session to follow to ratify whatever comes out of
committee.  This word comes out of the Assembly energy committee (Joe Lyons)
and although Rick Simpson was with the Speaker all afternoon and didn't get
back to me, numerous other Members' offices confirmed that they have been
told to be in town and available Friday.

There is another working group, but I do not know who is on it, nor were we
invited.  I will continue to advocate for the language we were able to get
into 82, as should your individual lobbyists.

More later ...


Please see attached file.  I wish to remain anonymous.

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

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

 - india.doc
 - razorfinish.htm


ECC has the following contracts with Coral Energy Canada, Inc.:

	- Master Firm Gas Purchase/Sale Agreement dated January 3, 1995
	- Firm Gas Purchase/Sale Agreement (<31 days) dated June 30, 1993
	- Interruptible Agreement dated October 21, 1993

ECPC has no contracts with this counterparty.

 -----Original Message-----
From: 	Keohane, Peter
Sent:	Thursday, November 01, 2001 5:03 PM
To:	Rohauer, Tanya; Heard, Marie; Del vecchio, Peter
Cc:	Hodge, Jeffrey T.; Crawford, Sharon
Subject:	RE: Coral Master Netting

Sharon, can you also confirm the contracts we have with Coral Energy Canada, Inc.

 -----Original Message-----
From: 	Rohauer, Tanya
Sent:	Thursday, November 01, 2001 5:00 PM
To:	Heard, Marie; Del vecchio, Peter
Cc:	Hodge, Jeffrey T.; Keohane, Peter
Subject:	Coral Master Netting

A Breakdown on the activity to be included:

Coral Power LLC
	physical power with EPMI under EEI

Coral Energy Holding LP
	financial trading with ENA under ISDA

Coral Energy Resources LP
	physical gas trading with ENA under Master

Coral Energy Canada, Inc.
	physical gas trading with ECC under Master
	physical gas trading with ENA no master

Gtys:

Outgoing:  	75MM multi product/affilaite	12/7/00
		30MM ENA ISDA		9/2/97

Incoming:	50MM  12/7/00 EPMI
		3MM	9/15/97 EPMI
		5MM  3/20/97 ENA
		10MM  8/14/99 ENA
		10MM CAD 1/8/98 ECC
		3.8MM (?) CAD 6/20/97  ECC

Credit Terms:  To come

Should we try to put a master physical with Coral Energy Canada/ ENA simultaneously?

Thanks,
Tanya


01/04/01
PJM

To: Vincent Kaminski
 ENRON

Re:  "PJM 101: The Basics" Training Course

You are confirmed for the following course:

 "PJM 101: The Basics" Training Course on Tuesday, February 27, 2001
from 9:00 a.m. to 12:00 noon and 1:00 p.m. to 4:00 p.m. on the Internet.

We encourage you to coordinate participation in this workshop with others at
your location by organizing a conference room with Internet and phone access.

No fee will be charged to PJM members; nonmembers will be invoiced $500.00 to
attend the course.  The fee is nonrefundable. Non-members will be charged only
for each connection. Multiple participants may watch on a single connection.

In order to participate in the course, you will need a computer with Internet
connection on at least a 56K modem and a Java compliant browser, at least
version 4.5 of Netscape or Internet Explorer. You will also need a phone
connection. Phone charges will be paid by PJM for domestic callers.
International callers must pay for their own long distance charges.

Our course is being produced by Virtual-Workshops.com. A few days from now you
will receive registration confirmation from them. A few days prior to the
course, you will receive log-on and dial up instructions from them as well as
files of the slides which will be used so that you can print them out and take
notes if appropriate.

If you need additional details, you can call me on 610-666-8981 or call our
Customer Service Hotline at (610) 666-8980.  We look forward to your
attendance
at our program.

Sincerely,

Carolyn Mullen
Customer Relations & Training


Thank you for your recent correspondence to Mr. Jeff Skilling.  As he is
traveling for the next 10 days, I have taken the liberty of forwarding your
information to
Mr. Greg Piper, COO of Enron Net Works.  Mr. Piper is responsible for all of
Enron's e-commerce systems development, such as EnronOnline, ClickPaper.com,
etc.  It was sent to him today via interoffice mail, so he should receive it
within the next 24 hours.  You may contact him directly at 713.853.6635.

Regards,
Sherri Sera
Assistant to Jeff Skilling
713.853.5984
713.646.8381 (fax)
sherri.sera@enron.com


-----Original Message-----
From: Eddie Aaron [mailto:edaaron@texas.net]
Sent: Friday, November 16, 2001 6:10 PM
To: Bill Karpus; Mike Griffith; John Harris
Subject: Fw: FW: Arabs in 'Star Trek'

> >>Sent: Thursday, November 08, 2001 10:37 AM
> >>To: Louis Lopez
> >>Subject: Fwd: Arabs in 'Star Trek'
> >>
> >>
> >> > The Saudi Ambassador to the U.N. has just finished giving a speech,
> >>and
> >> > walks out into the lobby where he meets his American counterpart.
They
> >> > shake
> >> > hands and as they walk the Saudi says, "You know, I have just one
> >>question
> >> > about what I have seen in America"
> >> >
> >> > The American says "Well your Excellency, anything I can do to help
you
> >>I
> >> > will do."
> >> >
> >> > The Saudi whispers "My son watches this show 'Star Trek' and in it
> >>there
> >> > are
> >> > Russians and Blacks and Asians, but never any Arabs. He is very
upset.
> >>He
> >> > doesn't understand why there are never any Arabs in Star Trek."
> >> >
> >> > The American laughs and leans over. "That's because it takes place in
> >>the
> >> > future."
> >>
> >
>
>
> _________________________________________________________________
> Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp
>
>


At the request of Dwight Scott, please find attached a memorandum which
summarizes the companies and primary contacts called in conjunction with the
Project Pittsburg and Coyote Springs sales.? If you have any questions,
please do not hesitate to call me at (212) 892-7006.

Regards,

David Platt

 <<5KPJ01!.doc>>

 - 5KPJ01!.doc


I will be out of the office on Monday, October 29th on vacation.  Please contact Carla Argyriou at 713-345-2521 should you require immediate assistance.


Prices in the January 13, 2002 Real-Time Market are correct.

The NYISO is reserving hours beginning 21:00 - 23:00 in the January 13,
2002 Hour-Ahead locational reserve market.

Prices in the January 14, 2002 Day-Ahead Market are correct.

Please note that Market Monitoring will no longer be reserving prices due
to ECA-B.  Code modifications were made on December 20th to incorporate
into the Real-Time price, the BME price in the presence of congestion.  The
incorporation is now an automatic process that is prescribed by the NYISO
tariffs.  This message will appear in price reservation announcements
through January 31, 2002.

This e-mail information is a copy of the official posting which can be
found at the following address of our website:
http://mis.nyiso.com/public/htm/OperMessages/CurrentOperMessages.htm#mm

---
You are currently subscribed to nyiso_tie as: paul.d.thomas@enron.com
To unsubscribe send a blank email to leave-nyiso_tie-629431H@lyris.nyiso.com


-----Original Message-----
From: craigjefferies@ckbenergy.com [mailto:craigjefferies@ckbenergy.com]
Sent: Tuesday, December 11, 2001 3:31 PM
To: bmckay@houston.rr.com
Subject: SG - Interview Confirmation

Brad:

You are scheduled to interview tomorow with Societe Generale at 4:00 PM.

You will be interviewing with Francois Thiery and Pascal Guillot.  Pascal is
the head of trading for the Americas and Francous is his head of trading.

The video-conference will be held at the following address:

1000 Southloop West
Suite 100
Houston
(713) 747 7000

If it goes well, they will fly you up for a formal interview.

Regards,

Craig Jefferies
President
CKB Energy, Inc.
(917) 445 1189


Start Date: 10/17/01; HourAhead hour: 18;  HourAhead schedule download failed. Manual intervention required.


***** NEW Documents Available From CAEM Free of Charge *****

The Center for the Advancement of Energy Markets (CAEM) is pleased to announce the availability of two ground-breaking documents -- "The Role of the Federal Government in Distributed Energy" and "The Role of the Default Provider in Restructured Energy Markets" -- that are available free of charge.  To access the documents, visit us at our web site -- www.caem.org

After over 6 months of intensive work by CAEM's Distributed Energy Task Force, CAEM is releasing a comprehensive report on the "THE ROLE OF THE FEDERAL GOVERNMENT IN DISTRIBUTED ENERGY" prepared by Nat Treadway, a CAEM Senior Research Fellow, and Ed Reid, CAEM's Senior Technology Fellow.

The report describes the major Federal government activities that encourage or hamper the commercialization of distributed energy (DE) and recommends changes that could allow DE to play a more significant role as a choice among competing energy services.  The overarching conclusion of the report is that unless the Federal government takes affirmative steps to promote DE, the existing policies, regulations, and business practices will continue to hamper its development.  The report makes a number of recommendations that will be important to policymakers at both the federal and state levels of government.  This 70-page report is a must read for stakeholders interested in distributed energy.

A white paper on "THE ROLE OF THE DEFAULT PROVIDER IN RESTRUCTURING ENERGY MARKETS" was prepared by Ron Sutherland, a CAEM Scholar, as part of CAEM's DISCO of the Future Forum.

The paper offers an insightful analysis and critique of the current models utilized by states to offer default service.  The conclusions are summarized at the end of the paper, but the main result is noted here. Each state implicitly adopts a model of competition in its electricity and gas markets.  This model then influences (if not determines) the choice of default provider.  The commonly accepted model of competition permits the local utility to remain a competitor in the merchant function, where the utility is likely to be the default provider.  In the restructuring efforts of those few states where the utility exits the merchant function, an energy supply company is likely to be the default provider.  Various risks, inefficiencies or non-competitive elements do not result from the choice of default provider, but from other elements in the transition process.  Price caps are the major factor contributing to risks and inefficiencies where the utility or an independent energy provider is the default provider.  That is, it is not the default service provider framework, per se, that is responsible for the risks. The purpose of this study is descriptive not prescriptive, however a tentative suggestion is offered.  Few customers will require default service if energy service providers have incentives to offer service at pricing and other terms that cover costs.  If the need for default service occurs, customers will most likely obtain service if the default provider can offer service at pricing and other terms that cover costs.


Aaron, here is the comparison exhibit between the current version of AB 21X
and the preferred direct access coalition draft bill. I believe it is
correct, please check it and advise me of any edits that are required.
Given Lawrence's terrible rewrite of the bill, it sounds like we should
organize a conferenceat least.  Let me know what you plan on doing.   This
is a word document, I don't know why the icon looks this way.  Call me if
you have trouble opening it.   Thanks, Mike

 <<X23020.DOC>>

 - X23020.DOC


your team is so bad


Just a quick reminder, Friday is the last day to purchase your discount ski
tickets.? We need to buy 50 to make this thing happen.? Please get your
checks in ASAP.? Thanks

Redwoods@Haas is organizing discounted ski tickets at Squaw Valley and Alpine
Meadows.?

This is a great way to save some money if you plan on skiing this year.?
Both Squaw and Alpine are PREMIERE North Lake Tahoe ski resorts.

Squaw Valley Tickets cost $45 each and include night skiing. (Regular Price
$54)
Make checks payable to Will Birdsey and leave them in my MBA02 mailbox.?
Deadline Friday, October 27th!

Alpine Meadows Tickets cost $42 each.? (Regular Price $52)
Make checks payable to Matt Hawe and leave them in his MBA02 mailbox.?
Deadline Friday, October 27th!

Tickets are good all ski season (including holidays and weekends)
Tickets are transferrable
Buy as many (or as few) tickets as you want

See you on the slopes!


GT,

I am planning on coming in for the game this weekend.  Not sure if it will be
Fri. night or Sat. morning.  What does your schedule look like for the
weekend?


USA: Nevada to examine electric deregulation timetable.

?
09/06/2000
Reuters English News Service

(C) Reuters Limited 2000.
?

?
SAN FRANCISCO, Sept 6 (Reuters) - The timetable for deregulation of Nevada's
electricity market will be examined at a special meeting Sept. 13, called by
Gov. Kenny Guinn (R) with state Public Utilities Commission (PUC) Chairman
Don Soderberg, a spokesman for Guinn said Wednesday.
Nevada's electricity market was to open to competition last March but Guinn
delayed the timing because final rules weren't in place.
?

The state's new timetable now calls for deregulation to be phased in for
various classes of utility customers from Nov. 1, 2000, for big industrial
companies, to residential consumers by the end of 2001.
Soderberg told Reuters the timetable is subject to the governor's approval.
"I have no indication that he is uncomfortable with the schedule, but we will
meet to discuss all issues on deregulation," he said.
The state PUC has studied the power problems Nevada's neighbour California
has grappled with since electricity deregulation went into effect in 1998.
Soderberg said, however, that California's problems, which are based mainly
on supply and demand factors, don't necessarily mean that Nevada will delay
further.


Start Date: 12/19/01; HourAhead hour: 12;  HourAhead schedule download failed. Manual intervention required.


Lora:

This is the new "Final" version.  The difference from the earlier version is
- a few slides were taken out and the order of the remaining slides were
rearranged.

Please get a copy of this new "Final" to Ken Lay.

Thanks.

----- Forwarded by Maureen McVicker/NA/Enron on 06/21/2001 02:53 PM -----

	Ursula Brenner
	06/21/2001 01:05 PM

		 To: Karen Denne/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron
		 cc: Maureen McVicker/NA/Enron@Enron
		 Subject: Last version

This is the final version, including the changes Jeff just requested.

Ursula


If they are all in the coal group and we get all of the coal curves and transport curves, then the answer is yes.

 -----Original Message-----
From: 	Imai, Rika
Sent:	Wednesday, August 08, 2001 7:08 PM
To:	Presto, Kevin M.
Cc:	Allen, Diana; Kaniss, Jason
Subject:	FW: Permissions for Power curves

Kevin,

Please let me know if all the following people should have access to the power curves.  Hopefully this should resolve any outstanding issues with the power information.

frank prejean - risk manger
matthew condon - risk analyst
jay yu - risk analyst
jay cho - risk analyst
jay vandenberg - risk analyst
chad pennix - coal trader
john massey - coal trader
kevin mcgowan - vp coal trading

 -----Original Message-----
From: 	Allen, Diana
Sent:	Wednesday, August 08, 2001 11:08 AM
To:	Imai, Rika
Cc:	Prejean, Frank; Condon, Matthew; Yu, Jay; Cho, Jae; Vandenberg, Jay; Pennix, Chad; Massey II, John; Mcgowan, Kevin; Jahnke, John
Subject:	FW: Permissions for Power curves

Rika,

The following list of people have requested permissions to view our Power Forward curves.

Please forward this email as your approval to our DBA, Andy Jahnke,  (email: john.jahnke@enron.com <mailto:john.jahnke@enron.com> ) and he will take care of granting the necessary permissions.

Permissions needed:
Database:  tdsprod
Schema:  pds
Tables (Read only permissions)
	Power_forward_prices
	Regions

Thanks,

Diana

 -----Original Message-----
From: 	Condon, Matthew
Sent:	Wednesday, August 08, 2001 10:47 AM
To:	Allen, Diana
Subject:	RE: Permissions for Power curves

frank prejean - risk manger
matthew condon - risk analyst
jay yu - risk analyst
jay cho - risk analyst
jay vandenberg - risk analyst
chad pennix - coal trader
john massey - coal trader
kevin mcgowan - vp coal trading

 -----Original Message-----
From: 	Allen, Diana
Sent:	Wednesday, August 08, 2001 10:27 AM
To:	Condon, Matthew
Cc:	Imai, Rika
Subject:	Permissions for Power curves

Matt,

If your group does not yet have permissions for our power forward curves tables, I will email our DBA and make the request.

I need to know the names of the people that need permissions.  If you want IT development, than include your IT person as well.

Thanks,

Diana
X35356


Please remind everyone that works for you that the book EPMI-SOUTHEAST is no
longer in use.  No transactions should be entered with this book.

Thanks,
Stacey


-----Original Message-----
From: Tennariello, Vincent G. [mailto:Vincent.Tennariello@pseg.com]
Sent: Wednesday, November 29, 2000 4:45 PM
To: Michael Fortugno (E-mail)
Subject: FW: New Seal of the Democratic Party

-----Original Message-----
From: Krupitsky, Alexander E.
Sent: Wednesday, November 29, 2000 4:18 PM
To: Tyurin, Eugene N.; Tennariello, Vincent G.; Meerdink, Eric P.;
Hancock, Marcus R.
Subject: Fwd: New Seal of the Democratic Party

 - Democratic Party Seal.jpg


---------------------- Forwarded by Eric Bass/HOU/ECT on 12/14/99 06:34 PM
---------------------------

Shirley Elliott <shelliott@dttus.com> on 12/08/99 06:06:19 PM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Christmas Party

   I think we'll have a lot of fun this weekend.  Sierra sounds good to me.  I
   really like that place--I was just there the other night for a recruiting
   dinner and it's all decorated for Christmas.

   Jill, Matt's date, who works at Deloitte also lives all the way out in the
   Woodlands and she is probably going to come to my house and get ready.  I
   guess we'll figure out the rest of the specifics later.

   Tomorrow is going to be a pretty rough day here at my client; so give me a
   call tomorrow night, if that's ok.  Or you can email me--for some reason I
   didn't get your email until 5:30 today and it looks like you sent it during
   lunch.

   Home:  713-283-9044
   Mobile:  713-540-1871

______________________________ Reply Separator
_________________________________
Subject: Christmas Party
Author:  ebass@ect.enron.com at Internet-USA
Date:    12/8/1999 11:59 AM

Hey Shirley,

I just wanted to drop you a line and tell you that I am looking forward to
Saturday night.  I don't know the specifics yet, but Chad and Matt had planned
on going to Sierra for drinks at around 7:30.  I'll give you a call tomorrow
to
let you know all of the details.

See you soon.

-Eric


FYI.  Well if she ain't sweet....
----- Forwarded by Jeff Dasovich/NA/Enron on 02/28/2001 06:36 PM -----

	Sally Ottoson <pacstar@mcn.org>
	02/28/2001 05:05 PM
	Please respond to pacstar

		 To: jeff.dasovich@enron.com
		 cc:
		 Subject: Growing Coastal Grapes

Hi Jeff:
I know a Jeff Dasovich, exact spelling, an attorney in
Oklahoma City...I'm looking forward to talking to you about
the potential for vineyard. Please call me at 707-964-1155,
I zoom around pretty fast but should be able to get down
there soon. Do you have soil test results/temp profiles -
were you referred to me by Alan Green of Greenwood Ridge?  Sally


Gregg,

Friday works for me.  I am open all day.

Stacy


The tickets for HOB will go on sale around next wednesday.  I will call and
get them.  I am starting to get pumped as well.  Luckily I have a trip to
Vegas in March that will hold me over.

I need to find my hand hacky sack so we will have a back up plan.  I have a
couple of new chairs in a bag for us - full lounge chairs.  They even have
beer holders in the arms.
PL

"Mike Jillard" <mjillard@beaconelectric.com> on 02/23/2001 10:08:36 AM
To: "Phillip M Love" <Phillip.M.Love@enron.com>
cc:
Subject: Jazz

P, we are getting close. Did the Tickets go on sale  for any of the concerts
at the House of Blues?
?
We need to come up with a gimmick for the fest!  Like the Hand bean bags.
?
See you soon.
?
Jilly


This request has been pending approval for  5 days and you are the alternate.  Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000081004&Page=Approval to review and act upon this request.

Request ID          : 000000000081004
Approver            : sandeep.kohli@enron.com
Request Create Date : 1/15/02 12:45:53 PM
Requested For       : randal.frisbie@enron.com
Resource Name       : \\enehou\houston\common\Research - [Read]
Resource Type       : Directory


Vance, I've been attempting to call you .  Your voicemail is full and my
return voicemail keeps getting rejected.  I suggest you clear out some room.
I would be happy to change my schedule and meet either at 12 or 12:30.  I
don't really want an hour with him but will do what you need.
mike


-----Original Message-----
From: 	Zimin Lu
Sent:	Wednesday, May 02, 2001 4:29 PM
To:	Tai Woo; Paulo Issler
Cc:	Pavel Zadorozhny
Subject:	Re: Asian Option for Pavel

Tai Woo,

Here are the c-codes for the CrudeAPO.  'Sig' is the spot
volatility meaning the price volatility within the delivery period.
You should consult  with Pavel for the definition of this "extra" parameters.   We
would like to see the Position Monitor once you get it running.
We might have some additional suggestions.

Paulo,

Why don't we have a documentation on CrudeAPO you worked on ?
I can not find it in Exotica help file.   Please supply that to Tai, thanks.

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

From:	Tai Woo/ENRON@enronXgate on 05/02/2001 09:55 AM
To:	Paulo Issler/HOU/ECT@ECT
cc:	Kara Maloney/ENRON@enronXgate, Zimin Lu/HOU/ECT@ECT
Subject:	Asian Option for Pavel

This morning, Zimin told me that Pavel is using a special model in evaluating his Asian option portfolio.
He asked me to talk to you in order to access to the code so that I can see the difference made to the model.

As I cannot find the doc. describing this model, please tell me what that new input parameter 'Sig' is.

Thanks,


Generally OK given the alternatives but need clarification on certain
issues.  Is this just a Bilas thing or are the votes there to get it passed
even with the modifications?

Lad,

What does this do to the BCAP filing?

-----Original Message-----
From: Dasovich, Jeff [mailto:Jeff.Dasovich@ENRON.com]
Sent: Wednesday, October 17, 2001 10:45 AM
To: alexanms@sce.com; craigc@calpine.com; ewo@jmbm.com;
llorenz@socalgas.com; rmp@cpuc.ca.gov; jleslie@luce.com;
paulamirault@aec.ca; mday@gmssr.com; porterdk@sce.com; burkee@cts.com;
kmccrea@sablaw.com; tomb@crossborderenergy.com
Subject: The Gas Settlement that Wouldn't Die

Folks:
Before filing comments on Bilas' proposal to modify our settlement with
SoCal and vote it out on the 25th, I wanted to get a sense of how folks
feel about it generally.  Hope all is well.

Best,
Jeff

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


fyi
---------------------- Forwarded by Gerald Nemec/HOU/ECT on 08/11/99 08:40 AM
---------------------------

	From:  Dan J Bump                           07/28/99 09:57 AM

To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: Coleman Oil & Gas Term Sheet and LOU

Gerald:

Coleman is ready to sign an LOU and begin the contracting phase; I have had
numerous discussions with Coleman the past five months and they have seen a
few versions of the attached term sheet.  I cannot remember if Shonnie has
reviewed any of the term sheets, so I would appreciate it if you could review
the latest version of the term sheet and share your suggestions.  (The MDQ
ratchet in the term sheet is admittedly somewhat confusing...but I'm trying
to limit the amount of MDQ that ECT holds open for these small companies who
are just now beginning to drill acreage in undeveloped areas.)

Thanks.

Dan


---------------------- Forwarded by Jonathan Hoff/HOU/ECT on 11/08/2000 05:34
PM ---------------------------

	Enron North America Corp.

	From:  Ken Lay and Jeff Skilling @ ENRON                           11/08/2000
04:59 PM

Sent by: Enron Announcements@ENRON
To: All Enron Worldwide
cc:
Subject: Organizational Changes

We are making a number of significant organizational changes.  These changes
are intended to accomplish four key objectives:

First, we need to realign all our wholesale businesses around the successful
business model developed over the last decade in North America and Europe.
This model relies on extensive physical and transactional networks built
around a relatively small strategic asset position.

Second, we need to significantly streamline corporate reporting
relationships.  Particularly with Joe Sutton,s departure, the ability to
directly manage the day-to-day activities of 15 independent business units
has become increasingly difficult.

Third, we need to accomplish these changes without, in any way, compromising
the ongoing profitability of all our businesses and without delaying or
hindering our effort to monetize a significant portion of our lower-yielding
asset positions.

And fourth, as always, we need to take advantage of the reorganization to
redeploy our talent into our highest value opportunities.

ENRON WHOLESALE SERVICES

Today, we are forming Enron Wholesale Services (EWS) which will consolidate
our global wholesale businesses.  The closer alignment of our wholesale
businesses will accomplish the following: (1) enhanced communication and
coordination across business units, (2) more rapid deployment of people to
higher valued opportunities, (3) more effective prioritization of
opportunities across the wholesale business, and (4) more rapid extension of
Enron,s wholesale business model and capabilities into new industries and
markets.

Enron Wholesale Services will include our current North American, European
(including Japan and Australia), Global Markets, and Industrial Markets
operations, and will be expanded to include Enron,s Net Works business unit
as well as a new unit ) Enron Global Assets.  In addition, Enron,s merchant
businesses outside of North America and Europe will be integrated into this
new structure as described below.

Mark Frevert, currently Chairman of each of our wholesale units, will assume
the role of Chairman and CEO of Enron Wholesale Services.  Greg Whalley,
currently Chairman and CEO of Enron Net Works, will join Mark in the Office
of the Chairman as President and Chief Operating Officer.

Providing further impetus for these organizational changes, several of our
international business unit leaders have elected to move into new leadership
positions:

Rebecca McDonald, currently CEO of Enron APACHI, will join EWS as President
and CEO of Enron Global Assets. Enron Global Assets will have responsibility
for managing all of Enron,s existing energy asset portfolio outside of North
America and Europe.  Joining Rebecca in the Office of the Chairman as COO
will be Jim Hughes, currently COO of Enron APACHI.  Rebecca and Jim will
report to the EWS Office of the Chairman.

Sanjay Bhatnagar, currently CEO of Enron India, has joined EBS as CEO for the
Middle East and Asia region.  Sanjay will be responsible for building our
broadband business in this region and the current EBS team in this region
will report to Sanjay.  In this role, Sanjay will report to the EBS office of
the Chairman.  In addition, Sanjay will continue to remain responsible for
Enron,s wholesale energy business in India and will transition this business
into Enron Global Assets in the near future.

Diomedes Christodoulou, currently Co-CEO of Enron South America, has joined
EBS as Chief Commercial Officer.  Diomedes will be located in London and will
focus his origination activities on global opportunities, with near term
attention to the wholesale and enterprise sectors.  Diomedes will report to
the EBS Office of the Chairman.

Jim Bannantine, currently Co-CEO of Enron South America, will be joining EES
to lead EES, commercial efforts outside North America and Europe.  In order
to ensure a smooth transition for our South American businesses and to
facilitate our asset sales activities, Jim will remain in South America for
at least the next several months and continue to serve as CEO of Enron South
America.  Throughout the transition, Jim will report to Cliff Baxter and to
the Office of the Chairman of Enron Wholesale Services.  Following the
transition, Jim will join EES.

In addition to these changes in our international asset operations
activities, we are making the following changes in our merchant wholesale
businesses and the commercial support functions:

Enron Net Works
Louise Kitchen will assume Greg,s previous responsibilities as President and
CEO of Enron Net Works, reporting into Mark and Greg.

Enron Americas
Concurrent with the transfer to Enron Global Assets of responsibility for
operating Enron,s South and Central America asset base, all trading,
marketing, and new asset development activities in these regions will report
into a new entity, Enron Americas.  Enron Americas will have responsibility
for all wholesale merchant businesses across North, Central and South
America.  Dave Delainey, President and CEO, and John Lavorato, Chief
Operating Officer will comprise the Office of the Chairman for Enron
Americas.

Enron Europe
The Enron Europe organization, which includes Enron,s businesses in Australia
and Japan, and Enron Metals, remains unchanged under the leadership of John
Sherriff, President and CEO, and Michael Brown, Chief Operating Officer.

Enron Global Markets
Enron Global Markets, under the leadership of Mike McConnell, President and
CEO, and Jeff Shankman, Chief Operating Officer, will continue to have
responsibility for Enron,s Middle East and LNG operations.  With the
exception of Ecoelectrica in Puerto Rico, all operating power plants and
associated personnel in the Caribbean and Central America will transfer to
Enron Global Assets.  Enron Global Markets will also continue to manage the
commodity businesses in crude and products, coal, weather, insurance,
equities, interest rates, foreign exchange, and agricultural products.

Enron Industrial Markets
Enron Industrial Markets, organization, under the leadership of Jeff McMahon,
President & CEO, and Ray Bowen, Chief Operating Officer, remains unchanged.

Commercial Support for EWS
The commercial support functions for EWS will remain with, and be managed by,
the individual business units.  We are creating no incremental overhead in
the creation of EWS, and in fact hope to reduce our operating costs by more
efficient utilization and sharing of resources across EWS.

To this end we have asked several people to take on an expanded role across
EWS in addition to their ongoing roles within their business units.  These
newly defined roles are as follows:

Mid and Back Office Operations ) Sally Beck will lead Mid and Back Office
Operations across EWS.  These services will become part of Enron Net Works,
with Sally reporting to Louise Kitchen and Rick Causey, Executive Vice
President and Chief Accounting Officer.  This alignment creates a coordinated
services organization with IT and e-commerce platforms to support the
wholesale businesses and to maximize opportunities to commercialize these
services.  Mid and Back Office services for all commercial activities will
continue to be organized with dedicated operations controllers responsible
for specific commodities and/or geographic locations.
Legal ) Mark Haedicke will serve in the role of General Counsel for EWS.
Regulatory and Government Affairs ) This function will remain organized on a
regional basis.  Rick Shapiro will support all EWS businesses operating in
the Americas, and Mark Schroeder, who is based in London, will support all
European and Eastern Hemisphere operations.  Rick and Mark will also continue
to support all other Enron businesses operating in their respective regions
and will continue to report to Steve Kean, Executive Vice President and Chief
of Staff.
Public Relations ) This function is also organized primarily on a regional
basis.  Eric Thode will have responsibility for North American activity,
Enron Net Works, and Enron Industrial Markets.  Jackie Gentle will continue
in her role for Enron Europe (including Japan and Australia) and John Ambler
will have responsibility for activity outside North America and Europe as
well as providing support for Enron Global Markets and Enron Global Assets.
These individuals will also continue to have a split reporting relationship
to Mark Palmer, Vice President of Communications.
Business Analysis and Reporting ) Wes Colwell will expand his role to cover
EWS reporting in addition to his current role in North America.

Attached for your review is an organization chart for Enron Wholesale
Services which summarizes the changes described here.  As this organization
continues to evolve we will keep you informed of any additional changes.

ENRON GLOBAL EXPLORATION AND PRODUCTION
AND ENRON WIND

 As part of our company-wide initiative to examine our assets and investments
around the world, we are considering a variety of options with respect to
EGEP and EWC.  As a consequence, we are putting these businesses under Cliff
Baxter,s direction.  Jeff Sherrick, CEO of EGEP, and Jim Noles, CEO of Enron
Wind, will report to Cliff.

CORPORATE STAFF

 We are consolidating the corporate staff functions: Human Resources,
Government Affairs, Public Relations/Communications and Administration.  In
that regard, Cindy Olson, Executive Vice President of Human Resources and
Community Relations, will report to Steve Kean, Executive Vice President and
Chief of Staff.

COMMITTEE STRUCTURE

 In light of the increased leadership opportunities created by Enron,s
growth, the Executive Committee will be expanded to include more of our
business unit leaders.  The primary role of this committee will continue to
be the communication of relevant information across Enron,s businesses and
the coordination of activities across those businesses.  We will also be
drawing on this group to lead company-wide initiatives such as the
performance review process and evaluation and creation of new businesses.
The Executive Committee membership is shown on the attached list.

 We are also forming a new committee ) the Enron Corporate Policy Committee.
This group will be responsible for overall corporate policy, personnel
management policy and corporate strategy.  The Enron Corporate Policy
Committee membership is also shown on the attached list.

 We are confident that these changes will align our talent and our capital to
our highest return opportunities.  Please join us in congratulating and
supporting all of these individuals in their new roles.


eSource presents Global Access training

Global Access offers an online connection to complete company information and filings via content that includes Disclosure, Worldscope, Datastream and I/B/E/S.  The product is designed to allow users to get complete company information such as financials, filings, databases and news for thousands of US and International companies from a single source.

Training Agenda Includes:
?	General Introduction.
?	Basic Reference View Query (Which provides an itemized list of all available source data.)
?	Basic Business View Query (Which pulls source data from various Global Access content, and displays it in a presentation summary).

Attend our Global Access Clinic:

May. 16 - 9:00 -10:00 AM 	EB572

Seats fill up fast! To reserve a seat, please call Stephanie E. Taylor at 5-7928
Check the eSource training page at http://esource.enron.com/training.doc for additional training sessions and vendor presentations

http://esource.enron.com


Houston Christian Business Group
> >
> >
> >
> > PLEASE NOTICE---   January MEETING IS IN THE POOL ROOM
> >
> > Gentlemen:
> >
> > Please don't forget our next meeting, which is scheduled for next
> Thursday,
>   January 3rd. Our meeting will be at the usual location and time, in the
> POOL ROOM: River
> > Oaks Country Club from 7:30 to 8:30 AM. If you can, come a few minutes
> early
> > for coffee and Christian fellowship. Consider
> > bringing a friend (there is no charge for first time attendees).
> >
> > Out topic for December is:  How Now Shall We Live?
> >
> > Please RSVP (positives only) by email to: arta@houston.rr.com
> > If you know of any of our members who are not receiving our monthly
email,
> > please let me know and please tell them about the January meeting.
> >
> > Take advantage of this opportunity to mark your calendars for our
monthly
> > meetings. Mark the first Thursday of each month.
> >
> > In His name,
> >
> > Jack
> >
> > Pennzoil Place--South Tower
> > 711 Louisiana, Suite 1740
> > Houston, TX  77002
> >
> > 713-223-5800
> > 713-223-5049fax
> >
> >


CALENDAR ENTRY:	APPOINTMENT

Description:
	Tangie & Harry/Mobil Audit Lynn's Office

Date:		11/7/2000
Time:		3:30 PM - 4:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


The following name changes were made in Global Counterparty today.  Please go to O:\Global_Cntrprty\Name Change Notification to view the details.  Refer to tab "Jun '01.

All shortname changes have been made in GCP today, and will be updated by ERMS IT.

Records will be inactivated on July 5.

CP ID	FROM						TO
84846	AGL Energy Services, LLC			Sequent Energy Management, LLC
54772	Allegheny Teledyne Incorporated			Allegheny Technologies Incorporated
67273	BP Amoco p.l.c.				BP p.l.c.
93123	Enron Broadband Services Singapore Pte.	Enron Broadband Services Asia/Pacific Pte. Ltd.

Please call me with any questions or concerns.

Cheryl Johnson
Enron Net Works
Global Data Management
713.853.3103


I tried sending this email about 3 weeks ago and had problems.   So here it
is.

---------------------- Forwarded by Chris Germany/HOU/ECT on 07/18/2000 04:30
PM ---------------------------

Chris Germany
07/17/2000 11:31 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Sale to EES for April

james r barker ees      patricia downey ees

donnie myers/na/enron

ENA sold EES 5,000 dth a day delivered on Iroq Zone 1.  The price is $3.14.
The total volume is 150,000 for the month.  Patricia is only showing a
purchase in your system of 140,000 for the month.  I think you forgot to put
in some of the buy/sale activity.

My system shows ENA delivered 130,000 to Canajoharie and 5,000 to Tenn-Wright
one day (you though little ol' ENA was taking advantage of you).  For 3 days
we bought the gas back from you and we are showing the buy/sale activity at
Tenn-Wright.  The total buy/sale volume is 15,000.  I think you need to add
another 10,000 to your buy/sale activity.

Let me know if you have any questions.  Buddy


Rob,

Could you please approve HSC Basis for Oct?

Thanks,

Eric


The Enron-wide PRC meeting to review the mid-year performance for all Vice
Presidents has been rescheduled several times.  Currently, this meeting is
set for September 11 and 12.  Per David Oxley, performance reviews for Vice
Presidents should be conducted after this PRC process is completed.  Assuming
that the meeting takes place as now planned in September, I will schedule
your reviews sometime after September 12.  (Bob, I will assume that your
review will be given by Rock, but I will keep you informed on this process
along with Peggy and Brent.)

On another note, Enron hosts an annual management conference each year for
Vice President level and above.  You should all receive invitations to this
event.  In recent years, it has been held in San Antonio.  I do not know the
location for this year, but I do have the dates for you to hold on your
calendars:  November 15-17.

Let me know if you have any questions on either one of these.


We have received a faxed copy of the Amendment to the Electronic Trading
Agreement between ENA and the referenced Counterparty dated January 11,
2000.  The original will follow by Fedex.

Copies will be distributed.


With regard to the lease question, the Commission has no problem with capacity leases now.  However, the general rule is that the cost of the lease needs to be set so that the exisiting customers are not harmed.  That raises the question of what the backhaul rate should be.  Of course, the customers and Gulfstream will take conflicting positions on the answer.  We should discuss some of the commercial aspects.  There may be some opportunities.

 -----Original Message-----
From: 	Lokey, Teb
Sent:	Tuesday, January 08, 2002 4:37 PM
To:	Boatman, Jack; McCoppin, Dorothy; King Jr., Frazier; Holtzman, Staci; Kilmer III, Robert; Hayes, Robert
Subject:	RE: Capacity Lease (Backhaul) - Gulfstream

A backhaul capacity lease was proposed in the multi-party Mobile Bay projects and FERC did not seem to have any philosophical problems with the concept.  I will defer the second question to the real lawyers.

 -----Original Message-----
From: 	Boatman, Jack
Sent:	Tuesday, January 08, 2002 12:48 PM
To:	McCoppin, Dorothy; King Jr., Frazier; Holtzman, Staci; Lokey, Teb; Kilmer III, Robert; Hayes, Robert
Subject:	Capacity Lease (Backhaul) - Gulfstream

We are currently discussing several potential approaches for a "Phase VII" expansion project.  We have preliminary work underway on several potential scenarios, some of which might involve Gulfstream as an upstream transporter.

As part of these discussions, Gulfstream has inquired about FGT's interest in providing a capacity lease for backhaul service (approximately 20-30 miles - they did not identify the specific market).

My questions are:
	(1) Backhaul capacity lease with an interstate pipeline - Do you see any problems/issues?  The lease arrangement would be with Guflstream Pipeline.

	(2) If this backhaul lease capacity is used by Gulfstream to provide deliveries to an electric generator, would the FP&L Favored Nations Clause be triggered?


Kevin, Rogers, and Dana -- We do not have to do or say anything since, per NEPOOL, Enron is in compliance.  However, if you feel that NEPOOL participants are not trading with us and we need to make some statement, we can (if ok with legal).  Let us know. Thanks.

 -----Original Message-----
From: 	Allegretti, Daniel
Sent:	Tuesday, November 27, 2001 1:40 PM
To:	Nicolay, Christi L.
Subject:	nepool financial assurance

I got a call today from Ed McKenna, the ISO-NE treasurer.  He is getting a large volume of calls from NEPOOL Participants concerned about Enron Corp's credit rating.  He is telling these Participants that his office only monitors whether NEPOOL members EPMI and EES are in compliance with the NEPOOL Financial Assurance Policy, which they are, and does not monitor Enron Corp.  Ed suggested that when PG&E experienced difficulties PG&E drafted a short notice, which ISO-NE circulated, explaining how its subsidiaries were not affected by the credit rating of the parent.  The ISO is offering us the same opportunity to draft and circulate something similar if we wish.

What may be going on here is a concern by NEPOOL Participants that we are using a parent guaranty to meet the Financial Assurance Policy.  My recollection, however, is that we have instead posted surety bonds from AA agencies to meet NEPOOL credit requirements.  If we disclosed this to the NEPOOL Participants it might allay their credit concerns.  We may however, not want to disclose this if we are employing parent guarantees elsewhere, lest we be asked to post surety bonds everywhere.  Can you discuss this with the traders and see what they want to do?