Janet, between you, Laura and Frank/Gil you should  be able to field a one
Enron team on this one.  I am at your disposal otherwise.

Laura/Frank - this is an important one for the team - please work together
constructively.  Gil should continue in his current role as main relationship
manager unless you guys change your mind.

Regards
Delainey

---------------------- Forwarded by David W Delainey/HOU/ECT on 01/01/2001
06:47 PM ---------------------------

Janet R Dietrich
12/29/2000 01:36 PM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Keyspan

Quick update on Keyspan:  Gil Muhl flew to New York yesterday to spend the
afternoon with Chuck Devario. It sounds like their meeting went very well as
they spent a few hours discussing Keyspan's situation in the Northeast market
and how an Enron/Keyspan "JV" would work. They actually outlined a lot of
ideas on the white board and it basically sounds like Chuck is very
interested in pursuing this JV that would focus on optimizing Keyspan's gas,
power, and fuel oil portfolios. Chuck is now planning to come to Houston in
mid-January to sit down with us and further these discussions. If the Houston
visit goes well we will then plan to take him to Chicago to show him
first-hand the Enron/People's JV (trading floor, office set-up, discussion of
general contractual arrangements between the reg. utility and unreg.
affiliate, etc.). Chuck knows Tom Patrick and it would be a great way to show
him how well our Chicago JV has worked for both People's and Enron. Obviously
this visit and meeting will need to be tightly finessed but I'm confident
that with Laura Luce/Bill Morrow and Gil, Chuck, and myself, it will work.

We may want to consider getting out with Keyspan and People's together in a
more social setting sometime in March (maybe the Master's would work). I
think Keyspan has the ability to get out of the Coral relationship early if
they really wanted to (it currently goes through April, 2002) although I
think it will probably take the better part of next year to formulate the
entire structure around this JV. I think the potential is to have a
commercial structure in place and effective going into next winter or
coinciding with the termination of the Keyspan/Coral relationship in April
2002.

Okay, now the players needed to make this happen....Gil needs to be
intimately involved. His knowledge of that market and company and his
relationship with Devario, Anderson, Fazio, the operational folks, etc. is
extremely good. If you decide that you do not want to have Gil involved in
this (not a good decision) you need to move him out of his current role.
Given the fact that we are using the People's JV as a showcase, Laura Luce
can be very closely connected to Gil and Keyspan in a very natural and
genuine way. Gil will need to lean on Laura's expertise in how she set up the
Chicago JV throughout the process. I plan to insert Michael Brown into the
deal team to focus on the power and fuel oil components. Michael has
excellent relationships with all the folks at Keyspan and his knowledge of
Keyspan's power portfolio and that power market will be critical. Ed
McMichael will lead all the structuring effort (gas and maybe power too), and
we'll need Bob Superty from the  operational side.

Although it is still unclear as to whether Keyspan will decide to request
proposals from several players, it is clear that with our overall
capabilities and genuine desire to be flexible on the commercial structure in
what we put together with them, Chuck Devario is very interested in pursuing
more detailed discussions in the very near future.

I'd like you to be available to spend some time with Chuck and I when he
comes to Houston in January ( maybe  a late morning meeting and lunch) and
I'll coordinate with Kay on that.

Let me know if you want to talk about this ahead of time. I'll be here all
next week.


Justin McSimov
1917 W. Evergreen Ave
Chicago, IL 60622
jmcsimov@netscape.net

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Justin McSimov


We have not talked about this.  Mark


the ticket is 704011

Susan

Ellen Wallumrod@ENRON
04/10/2001 03:12 PM
To: susan.w.pereira@enron.com
cc:
Subject: NYMEX Match-up for April

Susan,

I hear you are covering for Andy Ring the next couple of weeks.....

We only had two NYMEX match-ups for April, one with ABG Gas Supply (sitara
#700336) and one with El Paso Merchant.
Andy entered them in Sitara, and I was able to find the deal with ABG Gas
Supply, but can not find the deal with El Paso.
Could you or somebody in your group possibly find the relevant deal-number ?

I appreciate your help !

Regards,
Ellen
x54099


(See attached file: HPLN1104.xls)

 - HPLN1104.xls


I don't really have a problem with this, but I thought that all VP promotions
were supposed to go through our year end process.  That's what I have been
saying in response to the inquiries I am getting.  Ken, being newly back in
the fold, likely didn't know about the process.

Kurt S Huneke@ENRON_DEVELOPMENT
12/12/99 08:31 PM
To: Steven J Kean@EES
cc:
Subject: Hap Boyd Promotion

First I heard about this.  I assume it is a reward for the PTC extension.
Hope it makes sense to you.
---------------------- Forwarded by Kurt S Huneke/ENRON_DEVELOPMENT on
12/12/99 08:30 PM ---------------------------

Ken Karas@ENRON
12/10/99 01:50 PM
To: Enron Everyone_EWC
cc:  (bcc: Kurt S Huneke/ENRON_DEVELOPMENT)

Subject: Hap Boyd Promotion

I am pleased to announce that Hap Boyd has been promoted to Vice President -
Governmental and Regulatory Affairs for Enron Wind Corp. reporting to me. Hap
will be responsible for managing our worldwide governmental, legislative, and
regulatory needs. Hap has been a valued member of our team for since 1994 and
recently has lead the successful effort to extend the Production Tax Credit.
Hap has made a number of significant contributions to our business and I am
delighted that he is taking on this expanded role.


In February, 539,594 Mmbtu were allocated to the our index purchase from HPLR
Liquids at King Ranch.  This allocation resulted in a large physical
unaccounted for loss.  Effectively, the gas was being purchased twice in our
systems.  In addition, a sale to the Liquids group, which should have been
zero, was brokered with a purchase from Swift (2500 Mmbtu/day), resluting in
additional gas being allocated to the HPLR Liquids purchase contract.  I have
attached a schedule detailing the volumes that were double booked in
February.  This schedule also reports the daily volumes for March which will
need to be adjusted.  I have calculated (based on estimates) that we should
have only purchased about 88,000 from the Liquids group at King Ranch for
February.  See the following:

Booked to HPLR Liquids: 539,574  18,606/day
Purch by HPLC @ WH:  379,108  13,073/day
Incorrect Liquids Sale:    72,500  2,500/day
     Adjusted purch from Liquids:   87,986  3,034/day

We usually input a purchase of 2,500 Mmbtu/day from HPLR Liquids at the
tailgate.  We can increase this to 3,000/day for March.

The majority of gas in the 3-Rivers system is transported to the King Ranch
plant through HGPL.  Some of this gas is purchased at the wellhead by HPLC,
some of the gas is purchased at the wellhead by HPLR Liquids, and three
producers have the option to either sell their gas to HPLC at the wellhead or
to process their gas and sell the residue to HPLC at the tailgate of the
plant.  It is very important to keep the meters and volumes allocated
correctly among parties related to these transactions.  The attached schedule
should assist in doing this.  I have reported the meters at which HPLC buys
wellhead gas.  The movement of this gas through HGPL and King Ranch should be
kept seperate from the gas purchased by the Liquids group.  A transport usage
ticket can be used to show the transfer of HPLC's gas from King Ranch to HPL.

Let's plan on discussing this either Friday or Monday afternoon.  Let me know
what works best for you.

D


Charry?

email is:  charryl@pacbell.net


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 09/07/2000
04:39 PM ---------------------------

"SOCORRO HERNANDEZ" <SUHERNAN@LLGM.COM> on 09/07/2000 03:27:26 PM
To: <Judy.Hernandez@enron.com>, <irenepepe@hotmail.com>, "CATHERINE BROWN"
<CLBROWN@LLGM.COM>, "VIVIAN FARRELL" <VFARRELL@LLGM.COM>,
<bandama@ssa.co.orange.ca.us>, <maryloulou@yahoo.com>
cc:
Subject: BLONDES...CANNOT EXPLAIN THEM

<<
>
>
>                          BLONDES....CANNOT EXPLAIN THEM
>
>One morning, a blonde called her boyfriend and said, "Please come over and
help me. I have this awesome jigsaw puzzle, and I can't figure out how to
start it."
>
>Her boyfriend asked, "What is it a puzzle of?"
>
>The blonde said,"From the picture on the box, it's a tiger."
>
The blonde's boyfriend figures that he's pretty good at puzzles, so he heads
over to her place. She lets him in the door and shows him where she has the
puzzle spread all over the table. He studies the pieces for a moment, then he
studies the box.
>
>He then turns to her and says, "First, no matter what I do, I'm not going to
>be able to show you how to assemble these pieces to look like the picture
>of that tiger."
>
>"Second, I'd advise you to relax, have a cup of coffee, and put all these
>Frosted Flakes back in the box.


Please find attached Q3 revision to Regional Office Trading Risk profile.

Naomi Connell
Regional Support Co-ordination


(See attached file: HPLN0302.xls)

 - HPLN0302.xls


what time did you want to go? susposed to do something with nic but if we went early that would be cool.

 -----Original Message-----
From: 	"George, Mike (CA - Calgary)" <migeorge@deloitte.ca>@ENRON
Sent:	Tuesday, November 20, 2001 10:15 AM
To:	Dorland, Chris
Subject:	supper

hey,

Wondering if you wanted to go for supper tonight.  I'd like to talk to
you about careers, etc, and I am gone for the next week and a half.  Let
me know if you have plans or whatever.

Chow.

Mike George, Bcomm
Senior Accountant
Deloitte & Touche LLP
Assurance and Advisory Services
Tel: (403) 267-0652
Fax: (403) 264-2871
migeorge@deloitte.ca


????   THE DAILY TEASE - Exercise Your Mind   ????
                  Friday, May 11, 2001
------------------------------------------------------------
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Hello Everyone

Congratulations to "LESLIE SMITH" who won this week's "Mind
Scrambler". If you're the winner please email me your com-
plete name and address for your prize. Here was the question:

          To some I can hold treasure,
          To others most displeasure.
          I am always near you,
          Yet always far.
          I am done when I begin,
          And begin when I end.

                   What am I?

The answer is: THE FUTURE. Some of the answers I received
were: YOUR IMAGINATION, MEMORIES, A WEDDING RING and YOUR
HEART. Also, for those of you that missed it, the answer
to last week's puzzle was: GREED.

As always, if you're not a winner this week, stay tuned...
on Monday you will have another chance at "Janie's Mind
Scrambler". Have a good weekend everyone!

Keep those brain waves churning!

Janie

_________________________________________________

      *****   Janie's Mind Scrambler   *****

                    (#81)

Stay tuned! Monday starts a new Mind Scrambler.

        Submit your answer by visiting:
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------------------------------------------------------
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TODAY'S TEASE (#742) [Giant Book of Mensa Mind Challenges
by Jaime and Lea Poniachik, Tim Sole, Rod Marshall and
J.J. Mendoza Fernandez]

On the 29th of last month, there was a double murder on the
express train from Paris to Berlin. The engineer and the
conductor were killed at the same time, even though they
were at opposite ends of the train. This was confirmed by
a police detective, who was the exact center of the train
and heard both gunshots at the same time.

When my cousin was told the story, he realized that both
victims did not die at the same time.

How did he figure it out?

       _________________________________________

           SCROLL DOWN TO FIND THE SOLUTION
       _________________________________________

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We've got it and it's specially priced at three hilarious
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Trinity Trilogy for $29.98

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At least one answer to today's tease:

If the police detective heard the shots at the same time, it
means that the men could not have died at the same time. If
both sounds had occurred at the same time at opposite ends of
the train, he would have first heard the one from the front
car, because the speed of the train was added to the speed
of sound. For the sound from the back of the train, the speed
of the train was subtracted from the speed of sound. For the
detective to hear both shots at once means the man at the back
of the train was killed first.

********************* Readers Comments *********************

Hi Janie,  I think that Darlene was talking about a completely
different word. Darlene was thinking of the word Suede (swayed).
You wrote the word Swede (sweed).  The word was spelled corr-
ectly in your puzzle.  Darlene simply mis-identified it.
Dianne

                            ****

Hi Janie,

Just one comment about "Guy's" response to your "days of the
week" tease. He gave you several answers which *contained*
the letters SUN.  However, *none* of them had SUN in the exact
middle of the word (as the answer had to be).  You need to
have the same number of letters before and after the SUN to
be a correct answer.  Nice try, Guy.

I really enjoy your daily teases.........they do keep my
brain waves churning......something which my job has failed
to do for me lately!

Paula
[Thank you all for writing in. I hope to hear more from
all of you in the future! :)]

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Employee Name                   Supervisor Name                 Date Selected
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APOLLO, BETH                    FERNLEY DYSON                   Oct 31, 2000
COUSINO, LISA B                 JAMES SCRIBNER                  Oct 27, 2000
JORDAN, MIKE T                  FERNLEY DYSON                   Nov 03, 2000
MASON, HEIDI                    FERNLEY DYSON                   Oct 26, 2000
MCLOUGHLIN, HECTOR              SHEILA H WALTON                 Oct 25, 2000
MURPHY II, THEODORE R           RICHARD B BUY                   Oct 30, 2000
PERLMAN, BETH S                 PHILIPPE A BIBI                 Oct 31, 2000
PORT, DAVID                     THEODORE R MURPHY II            Oct 30, 2000
SCHULTZ, CASSANDRA R            THEODORE R MURPHY II            Nov 03, 2000
SOLMONSON, MARY C               SALLY W BECK                    Oct 31, 2000
STOCK, STEPHEN                  BETH S PERLMAN                  Oct 31, 2000
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that is great , i have tried calling the cable comp this am but it rang busy , will try later

 -----Original Message-----
From: 	Quigley, Kay
Sent:	Monday, September 10, 2001 9:47 AM
To:	Quigley, Dutch
Subject:	SWB phone

Phone will be installed Thurs now betw 8-6 - they will call me
30 minutes prior so I can run home- I had them waive installation fees and transfer fees
for them screwing up and showing up early last time
kq


DOUGLAS GILBERT-SMITH,

The PEP system closes on Friday, May 25, 2001.

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Tricia,
Please send these to Kristen Clause in the future.
DG

Tricia Truong
03/20/2001 11:21 AM
To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: EnerVest - S#27239

Hi Darron,
Could you please help me change the rate for the above Sitara # for Jan. 01
production to $9.624065?  Please let me know if you're no longer handling
this.
Thanks for your help,
TT  3-9852


Hi Lee,

Pete Thompson is preparing the LV Co Gen break out contract based on the
version generated last week that you and Bill Williams had agreed to (or so I
think), but incorporating the AIP stuff where approproiate for the new
turbines.  We need to have the Delta break out contract signed by April 11th,
so I'm hoping to have the LV Co Gen contract today or early tomorrow for all
to review.  That way, you can look at both at the same time, and sign both at
the same time.  Pretty nifty!

Thanks,

Kay


Vince,
Dawno ze soba nie rozmawialismy. Mam nadzieje ze u Ciebie wszystko O.K.

Nie wiem czy znana jest Ci postac prof. Aleksandra Werona - zajmuje sie on
zastosowaniem metod matematycznych w inzynierii finansowej. Ostatnio
natomiast skupil sie na rynku energii. Wraz z synem Rafalem wydal ksiazke
"Gielda Energii - Strategie zarzadzania ryzykiem". Zawarte sa w niej podstawy
zarzadzania ryzykiem. Na jego stronie internetowej
http://www.im.pwr.wroc.pl/~hugo/fe.html mozesz znalezc cos wiecej na temat
tego czym sie zajmuje. To co moze Cie zainteresowac to moze byc strona
http://www.im.pwr.wroc.pl/~hugo/rockets.html. Ciekaw jestem co o tym sadzisz.
Spotkalem sie z Weronem kilkakrotnie na roznych seminariach. Zorganizowalem
mu tez zobaczenie naszego trading floor podczas jednej z jego wizyt w
Londynie.

Pozdowienia

Jarek


Hi Maureen:

Could you ask Steve if he will be able to make the 4:30 (CST) with Laura
Tyson?  I think you 've got the call-in number. Tell him it's not big deal if
he can't--I can handle--but if he can, it might be useful for him to be on
the line.  Thanks a bunch.

Best,
Jeff


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Reply-To: ronk@pennenergy.com
Date: Thu, 24 Jan 2002 15:24:53 EST
From: "PennWell"<ronk@pennenergy.com>
Subject: Oil & Gas Journal Online This Week
To: vkaminski@aol.com
X-Priority: 3
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Content-Type: text/plain; charset="iso-8859-1"

=================================================
       OIL & GAS JOURNAL ONLINE THIS WEEK
                January 24, 2002
=================================================
Every Thursday, OGJ Online This Week delivers a
summary of the latest upstream, downstream and
government/regulatory news on OGJ Online.  Please
visit http://www.ogjonline.com for more
information on each news story.

=================================================

-----------------\Advertisement/-----------------
Oil & Gas Journal is the first place people look for
authoritative industry news, technical information,
business statistics and economic analysis.  To
subscribe visit http://ogj.pennnet.com/subscribe.html
-------------------------------------------------

INTERIOR SECRETARY SAYS ROYALTY IN
KIND TO REMAIN IMPORTANT OPTION FOR
US
Jan-24-2002
~~~~~~~~~~~~~~~~~~
US Sec. of the Interior Gale Norton
Wednesday said the department remains
committed to using royalty in
kind as a way to manage federal lease
revenues even after a program
to fill the Strategic Petroleum Reserve
with offshore royalty oil is
complete. "We'll continue after
that [SPR] is done, and I anticipate
we'll be heading for more onshore
leases," she said.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=133400

US OFFSHORE OPERATORS, COAST GUARD,
FISHERMEN TO DISCUSS SECURITY ISSUES
Jan-23-2002
~~~~~~~~~~~~~~~~~~
The Offshore Operators Committee is
working with the US Coast Guard,
commercial fishermen, and other industry
groups to improve anti-terrorist
security for oil and gas operations
in the Gulf of Mexico and
other US waters.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=133353

UNOCAL SUES VALERO FOR ALLEGED INFRINGEMENT
OF GASOLINE PATENTS
Jan-23-2002
~~~~~~~~~~~~~~~~~~
A subsidiary of Unocal Corp. sued Valero
Energy Corp., San Antonio, for
alleged infringement of its reformulated
gasoline patents. Unocal
is asking 5.75 cents for each gallon
of gasoline produced by the alleged
infringement, with the total
to be tripled as punishment.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=133272

MARKET WATCH: PRODUCTION CUTS TALK
AND REDUCED REFINERY RUNS AFFECT PRICES
Jan-23-2002
~~~~~~~~~~~~~~~~~~
Energy futures prices rebounded in
international markets Tuesday with
talk that the Organization of Petroleum
Exporting Countries is not
only curtailing oil production as
promised but might consider another
reduction in March.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=133267

BG GROUP PLC TO BUY ENRON INDIAN ASSETS
AT REDUCED PRICE
Jan-23-2002
~~~~~~~~~~~~~~~~~~
BG Group PLC unveiled a revised agreement
Wednesday to buy all of Enron
Oil & Gas India Ltd. from Enron
Corp., Houston, for a reduced price
of $350 million.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=133205

-----------------\Advertisement/-----------------
Key oil, gas, and energy industry statistics now
available online from Oil & Gas Journal Energy
Database. All data needed to track industry activity.
http://www.ogjresearch.com
-------------------------------------------------

CALIFORNIA ENTITY EXPECTS GREEN INITIATIVES
TO REDUCE GAS USE
Jan-22-2002
~~~~~~~~~~~~~~~~~~
The state-funded California Power Authority
said that by 2006, energy
efficiency programs and renewable
energy projects will reduce natural
gas consumption by $10-$15 billion.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=133191

MARKET WATCH: BEARISH LONDON OIL FUTURES
MARKET AWAITS NEW INDICATORS
Jan-22-2002
~~~~~~~~~~~~~~~~~~
An "extremely bearish" London oil futures
market consolidated around
a price level of $18.50/bbl Monday
and is awaiting new information on
either oil inventories or crude
production to determine where it will
move next, analysts said.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=133065

US SOLICITS BIDS TO FILL STRATEGIC
RESERVE WITH GULF OF MEXICO ROYALTY
OIL
Jan-22-2002
~~~~~~~~~~~~~~~~~~
The US Minerals Management Service
last week began soliciting written
bids from prequalified companies
to fill the Strategic Petroleum Reserve
with federal royalty oil from
Gulf of Mexico fields. Rather than
purchase oil on the world market,
MMS plans to collect 22 million
bbl between this April and March
2003 by dramatically expanding its
royalty-in-kind program.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=133061

EGYPT TO SUPPLY $8 BILLION OF LNG TO
FRANCE OVER 20 YEARS
Jan-21-2002
~~~~~~~~~~~~~~~~~~
Egypt has signed an $8 billion, 20-year
agreement to supply Gaz de France
SA with 3.6 million tonnes/year
of gas. The contract paves the
way for a BG Group PLC-led $900 million
project to develop Egyptian
liquefied natural gas supplies.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=132956

SAUDIS MEET WITH US OIL COMPANIES OVER
PROPOSED GAS DEALS
Jan-21-2002
~~~~~~~~~~~~~~~~~~
Saudi officials, in a meeting with
top ExxonMobil Corp. officials over
the weekend, gave no indication
whether they will postpone foreign
gas investment. Saudi Foreign Minister
Saud al-Faisal called the talks
"fruitful" in an official statement
from the Saudi Press Agency.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=132955

MARKET WATCH: ENERGY FUTURES PRICES
FLATTEN IN INTERNATIONAL MARKETS
Jan-21-2002
~~~~~~~~~~~~~~~~~~
Energy futures prices remained fairly
flat Friday as the monthly oil
market report by the International
Energy Agency challenged the prevalent
bearish market.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=132936

MARKET WATCH: FUTURES PRICES DROP ON
LOWER DEMAND, INCREASED INVENTORIES
Jan-18-2002
~~~~~~~~~~~~~~~~~~
US oil futures prices dropped below
$18/bbl Thursday for the first time
in 2 years as traders continued
to worry about lower demand and increased
inventories. The market will
remain weak until it sees some
noticeable effect of promised production
cuts of nearly 2 million b/d,
said analysts.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=132810

CHINA'S CNOOC TO BUY REPSOL'S INDONESIAN
ASSETS FOR $585 MILLION
Jan-18-2002
~~~~~~~~~~~~~~~~~~
CNOOC Ltd. said Friday it would buy
the Repsol-YPF Group's interests
in five Indonesian oil and gas properties
for $585 million, making it
the nation's largest offshore oil
producer. CNOOC said in addition
to the Indonesian purchase, 2002
capital expenditures would be about
$1 billion.
http://ogj.pennnet.com/articles/web_article_display.cfm?ARTICLE_ID=132763

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In case you did not know.  You can find info about bankrupt and non-bankrupt deals in this folder.

I'm AWAKE.

-----Original Message-----
From: Conwell, Wendy
Sent: Thu 12/27/2001 2:31 PM
To: Gossett, Jeffrey C.; Brackett, Debbie R.; Bradford, William S.
Cc: Mcginnis, Stephanie
Subject: Gas Exp/Excep Report

Please be advised, the Exposure Exception report for ENA Gas has been run and is in O:\_dropbox\bankruptcy books\ directory under the file name of "gas nonterminated as of COB 122601.

Thanks
Wendy


Gentlemen,

TurboPark closed today, effective tomorrow upon funding.

Thanks for


how is subscription rate going for EOL versus our expectations?


I will close the auction at noon as I advertised, if nobody buys them by
then, I'll sell them to you for $300.  I know what you mean, the combo of
Bonds getting walked all the time and the Stros getting killed really sucks.

----- Original Message -----
From: <John.Arnold@enron.com>
To: <styarger@hotmail.com>
Sent: Thursday, October 04, 2001 10:18 AM
Subject: RE: astros tix

> I would pay $300 for the tix tonight.  I feel ripped off for the crappy
> game I had to sit through tuesday.
>
>     -----Original Message-----
>    From:   "Stephen Yarger" <styarger@hotmail.com>@ENRON
>
[mailto:IMCEANOTES-+22Stephen+20Yarger+22+20+3Cstyarger+40hotmail+2Ecom+3E+4
0ENRON@ENRON.com]
>
>
>    Sent:   Tuesday, October 02, 2001 1:24 PM
>    To:     Arnold, John
>    Subject:  Re: astros tix
>
>    OK, I'll give you a call around 3:15 or so, I'll be driving a dark
green
>    Land Cruiser.
>
>
>    ----- Original Message -----
>    From: <John.Arnold@enron.com>
>    To: <styarger@hotmail.com>
>    Sent: Tuesday, October 02, 2001 12:07 PM
>    Subject: RE: astros tix
>
>
>    > Sounds good.  I have cash.  I work at the old Enron building.  Just
>    give
>    me
>    > a call when you're close and I'll meet you on the street right in
>    front of
>    > the building.
>    >
>    >     -----Original Message-----
>    >    From:   "Stephen Yarger" <styarger@hotmail.com>@ENRON
>    >
>
[mailto:IMCEANOTES-+22Stephen+20Yarger+22+20+3Cstyarger+40hotmail+2Ecom+3E+4
>    0ENRON@ENRON.com]
>    >
>    >
>    >    Sent:   Tuesday, October 02, 2001 1:07 PM
>    >    To:     Arnold, John
>    >    Subject:  Re: astros tix
>    >
>    >    I get off work at 3:00 so I could bring them by your office at say
>    3:30
>    >    if
>    >    you could meet me at the ground floor (I'm assuming you work at
one
>    of
>    >    the
>    >    Enron buildings).  I'm new to this whole Ebay thing so I'm not
sure
>    what
>    >    all
>    >    the payment options are, but I'm thinking the easiest would be
>    cash,
>    but
>    >    if
>    >    you want to put it on credit card through Billpoint on Ebay that
is
>    fine
>    >    also.
>    >
>    >    Good luck on catching the million dollar ball.
>    >
>    >
>    >
>    >
>    >    ----- Original Message -----
>    >    From: "Arnold, John" <John.Arnold@ENRON.com>
>    >    To: <styarger@hotmail.com>
>    >    Sent: Tuesday, October 02, 2001 11:43 AM
>    >    Subject: astros tix
>    >
>    >
>    >    Hello:
>    >    Wondering if we can meet to pick up the tix.  I work and live in
>    >    downtown.  Please advise or call me at 713-557-3330.
>    >
>    >
>    >
>    **********************************************************************
>    >    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.
>    >
>    **********************************************************************
>    >
>    >
>    >
>
>


vladislav@lycos.com

STAY in TOUCH!!!  :)

 -----Original Message-----
From: 	Tonks, Colin
Sent:	Wednesday, November 28, 2001 10:47 AM
Subject:	My data

Please send me your hotmail/yahoo account:

Thanks
colin_tonks@hotmail.com


Perhaps we should state that it fine to trade equities, bonds and fx provided
that they do not trade the book for Enron or
have access to Enron's info  on the subject.  Then all other commodity
trading should be out of bounds.  Have our
traners stick to working and thinking about books for the benefit of Enron.

John


this is a tom alonso deal - he's just finishing deal entry

Kerri Thompson@ENRON
02/09/2001 01:21 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: natsource checkout

missing deal for matt

buy idaho
march
25 mw
210
palo verde

thanks!


FYI re: audit requests below.  We can figure out our game plan for the audit during our meeting (w/o AA) that Donna has scheduled for 10am Monday.  Meanwhile, Sara, perhaps one of your assistants can begin compiling the requested lists of accounts?

Regards,
Cassandra.

-----Original Message-----
From: Schultz, Cassandra
Sent: Wednesday, October 03, 2001 11:15 AM
To: 'jennifer.h.staton@us.andersen.com'
Subject: FW: 2nd Request- MRM Audit request

I received your messages, but will be unable to respond until early next week, as I have been out of the office, and also preparing for the Board meeting next week.  I will call you on Monday to discuss further.

Regards,
Cassandra Schultz

-----Original Message-----
From: jennifer.h.staton@us.andersen.com
[mailto:jennifer.h.staton@us.andersen.com]
Sent: Tuesday, October 02, 2001 12:25 PM
To: Schultz, Cassandra
Cc: sharon.k.smith@us.andersen.com; gillian.k.boyer@us.andersen.com
Subject: 2nd Request- MRM Audit request

Cassandra,

As several of the MRM functions have recently been transferred to Donna
Lowry's group, we had originally requested documentation from her group in
conjunction with our MRM audit.  However, due to the fact that we are
looking at processes for the first part of the year, thus before these
functions were transferred to Donna's group, we were hoping for your
assistance in obtaining the below requested documentation.

          Please provide a listing of all open brokerage accounts as of
   August 15, 2001.
          Please provide a listing of all new brokerage accounts for the
   year 2001.
          What documentation is maintained for the approval of new
   brokerage accounts?
           How do you ensure no unauthorized accounts are opened?
           Please provide the authorized trader list provided to the
   brokers in order to identify which traders are authorized to transact on
   Enron's behalf.
From the listing of brokerage accounts obtained, we will select several to
test for proper approvals.  Therefore, we will have an additional request
once we receive the above information.   As we are in the process of
completing our audit, we would appreciate your prompt assistance.  In
addition, if you are not the appropriate contact for obtaining this
information, please provide the correct contact name and we will redirect
our request.

Thank you for any assistance you can provide.  If you have any questions,
please call me at X6-6269 or Sharon Smith at X6-6209.

Thank you,
Jennifer
*******************Internet Email Confidentiality Footer*******************

Privileged/Confidential Information may be contained in this message.  If
you are not the addressee indicated in this message (or responsible for
delivery of the message to such person), you may not copy or deliver this
message to anyone. In such case, you should destroy this message and kindly
notify the sender by reply email. Please advise immediately if you or your
employer do not consent to Internet email for messages of this kind.
Opinions, conclusions and other information in this message that do not
relate to the official business of my firm shall be understood as neither
given nor endorsed by it.


-----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, February 26, 2002 5:46 PM
To:	Germany, Chris; McMichael Jr., Ed; Concannon, Ruth; Boyt, Eric; Garza, Maria; Polsky, Phil; Dicarlo, Louis; Olinger, Kimberly S.; Parks, Joe; Mann, Kay
Cc:	Fowler, Kulvinder; Schumack, Sherlyn
Subject:	Enbridge Consumers' Gas Park & Loan

Opps.  Didn't mean to hit send it just yet.  Much better now.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, February 26, 2002 5:39 PM
To:	McMichael Jr., Ed; Concannon, Ruth; Boyt, Eric; Garza, Maria; Polsky, Phil; Dicarlo, Louis; Olinger, Kimberly S.; Parks, Joe; Mann, Kay
Cc:	Fowler, Kulvinder; Schumack, Sherlyn
Subject:	Enbridge Consumers' Gas Park & Loan

Today we discovered that ENA has 310,000 MMBtu parked with The Consumers' Gas Company Ltd. (an affiliate of Enbridge Inc.) at Dawn that needs to be withdrawn by March 31, 2002.    Dan White (403-508-3184) at Enbridge faxed me their confirmation.  According to Dan, this gas was parked in May and June 2001.  Per Enbridge's confirmation, "Customer shall pay Enbridge a fee of $.22 US/MMBtu...prorated over 12 months".  The confirmation makes it clear that March withdrawals are interruptible.  Dan didn't know if ENA has paid the fee but he is letting ENA take this gas for March!!!  So far have not been able to find a deal ticket in Sitara or tagg that applies to this deal.

Tomorrow, I will get bids from some of the companies ENA has done business with in the past at Dawn.  Before I sell the gas, I will
	1.  verify the creditworthiness of the company we are selling to
	2.  make sure the company we are selling to agrees to pay us for the gas and doesn't net this with some other item.

Kay, the point we are selling the gas at is Dawn which is in Canada.  Are there any special tax issues to address?

Any comments or questions?

Listed below are some of the companies ENA has done business with at Dawn

AEP Energy Services, Inc.
Aquila Canada Corp.
BP Canada Energy Company
Cargill Energy Trading Canada, Inc.
CMS Marketing, Services and Trading Company
CoEnergy Trading Company
Consumers Energy Company
Consumers Gas Company Ltd., The
Coral Energy Canada Inc.
Duke Energy Marketing Limited Partnership
Duke Energy Trading and Marketing, L.L.C.
Dynegy Canada Inc.
Dynegy Canada Marketing and Trade, a division of Dynegy Canada Inc.
El Paso Merchant Energy, L.P.
Engage Energy Canada L.P.
Nexen Marketing
PanCanadian Petroleum Limited
PG&E Energy Trading, Canada Corporation
PG&E Energy Trading-Gas Corporation
Phibro Inc.
Reliant Energy Services, Inc.
Sempra Energy Trading Corp.
TXU Energy Trading Canada Limited
WPS Energy Services, Inc.


Please see attached.

 - EL01-51.1
 - ER011489.1
 - ER011517.1
 - NR01-17.1


yes, when

 -----Original Message-----
From: 	Huble, Amanda
Sent:	Thursday, May 24, 2001 3:14 PM
To:	Maggi, Mike
Subject:

Do you have any smokes, I need one BAD!

Amanda K. Huble
Gas Fundamentals
Phone: (713) 853-4384
Pager: (877) 482-0772
Fax: (713) 646-8453


Yes Tana, they are an ESP.

 -----Original Message-----
From:  Jones, Tana
Sent: Tuesday, March 06, 2001 10:46 AM
To: Guidroz, Walter; Moran, Tom
Subject: Proliance Energy, LLC

My database is not showing that I've looked at this counterparty before, so I
need to know if they are an ESP, or not?


Kay:

I will review your comments on the LOI.  I wanted to check with make sure
that someone at King & Spalding is reviewing the Midway term sheet along with
the LOI, so that we can send the term sheet to TECO on Monday/Tuesday.

Let me know.

Fred

 -----Original Message-----
From:  Mann, Kay
Sent: Friday, June 01, 2001 11:45 AM
To: Jacoby, Ben; Mitro, Fred
Cc: jkeffer@kslaw.com
Subject: TECO

Ben,

I made a minor adjustment to the LOI re: exclusivity.

 << File: Midway TECO LOI june 1.doc >>

Policy states that any time we sign up to exclusivity we are supposed to get
it approved by Mark Metts, Tim Detmering and the CEO of the affected business
unit.  Seems a little silly in this case, but it can't hurt. (yes, I know we
didn't do it with the turbine stuff)

Kay


Carol -

Pursuant to our conversation, attached are clean versions of the BETA and Fee
Agreement for signature by Natsource.

I have made the following revisions from the documents forwarded on 3/6:

BETA - Paragraph 4(c) - the addition of the words ", which acceptance is
accessible by the Broker" in the second sentence.

 Paragraph 7(a) - modified to delete the concept of acceptance of the BETA by
clicking on the appropriate spaces and added the words "Broker's first use of
the user ID and Password to access the Website"

Fee Agreement  - Cleaned up the wording in the second full paragraph from
"for" to "form".

Please let me know if there is anything further.  If not, please have
Natsource sign two originals of each agreement and forward them to me for
counter-signature by Enron.

Thanks.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


Note:  The following was sent out by CERA and has a short term forecast of
prices and alternate fuel pricing.  Note the price differential forecasts by
basin.

**********************************************************************
CERA Alert: Sent Wed, November 15, 2000
**********************************************************************

Title: Midmonth Report: Early Warning
Author: N. American Gas Team
E-Mail Category: Alert
Product Line: North American Gas ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=5526&m=1420 ,

Alternative URL:
http://www.cera.com/client/nag/alt/111500_18/nag_alt_111500_18_ab.html
*********************************************************

After a warm October, the first cold weather this year
has provided an early warning of what winter could bring
for the gas market. Cold weather across much of the
great plains and a cold forecast for larger heating
markets in the Midwest and Northeast have driven a surge
in gas prices of more than $1.00 per million British
thermal units (MMBtu) over the past week. This rebound
in price highlighted the continued tightness of supply
and moved the price of gas back above that of residual
fuel oil, assuring that dual-fuel loads remain off of
gas. Supplies for the winter are not adequate to allow
most dual-fuel end users to burn gas. If this cold snap
extends through the remainder of November, a heavy
early-winter draw on storage could set the stage for
unprecedented high prices through the winter.

Though storage inventories have reached near the 2,750
billion cubic feet (Bcf) level, they remain at a record
low heading into the heating season, and even a normal
winter would reduce inventories to a near record or
record absolute low by spring. This supply tightness
places the gas price playing field in the broad
territory above the resid price (near $5.00 in the Gulf
Coast) and into a range potentially testing the next,
difficult level of demand resistance. This resistance
could come from switching to distillate oil, but low
distillate inventories and high distillate prices mean
that switching would require a gas price above $7.50 per
MMBtu, and any move to switch to distillate would likely
drive prices of both commodities higher. Rather, a
combination of some switching to resid in industrial
boilers and a shutdown of a few more price-sensitive end
users may be required. None of these measures comes
easily or cheaply, however, and they can be overwhelmed
by weather-driven swings in demand. As a result, as cold
weather settles in, CERA expects heightened price
volatility at levels above the price of resid and
extreme sensitivity in the market to weather and weather
forecasts. Under normal weather conditions, CERA expects
Henry Hub prices to average $5.70 during December (see
Table 1), which by itself would represent an all time
high for December. But even this estimate could prove
low. If the current cold snap extends through early
December, prices could easily climb into the $6.50-$7.00
per MMBtu range.

Gas Storage-The Record Low Maximum
CERA estimates that storage inventories reached a
maximum of 2,746 Bcf as of the end of October, a record
low for that month by 64 Bcf (see Table 2). Even this
level was reached only through a fortunate combination
of a lack of storms in the Gulf of Mexico and consistent
warmth through most of October. The withdrawal season is
likely to have begun this week, however, and in a strong
way. The cold weather now settling in is likely to
offset warmth early this month, increasing the
withdrawal rate this November to 3.5 Bcf per day on
average, well above the 1.0 Bcf per day average rate of
the past two years. By the end of this month, the US
inventory deficit is likely to have widened again, to
350 Bcf.

CERA estimates that normal December weather would
require storage withdrawals of approximately 17.0 Bcf
per day, which is above last year's rate of 16.6 Bcf per
day. This year, however, this withdrawal rate would
apply consistent pressure in the market through December
and beyond, as it would keep inventories on a path to
reach 756 Bcf by the end of March, just below the 1996
all-time end-of-March low of 758 Bcf. So long as
inventories remain on this path the pressure does not
end even with the end of winter, as a significant
increase in injections next year would be required for
inventories to reach even 2.6 trillion cubic feet (Tcf)
by next fall. Although the supply build will begin to
help by late winter, it is unlikely to be of the
magnitude required both to offset power generation
demand growth and to allow this increase in storage
injections to occur-unless demand continues to be priced
out of the market.

Demand-Keeping Warm
After last year's warm winter, CERA expects a strong
rebound in heating demand, and this week's weather and
forecast reinforce that expectation. Weather last winter
(November through March) was the warmest of the decade,
and there will be a significant rebound in heating
demand in the residential and commercial sectors as
weather returns toward normal this heating season.

Under normal weather conditions,
* Average heating demand through the winter would be 3.5
Bcf per day higher than last year's.

* Monthly average heating demand through the winter
would be 36.7 Bcf per day, peaking at 45.6 Bcf per day
in January.

* December heating demand would increase by 4.8 Bcf per
day relative to last December.

Weather 5 percent colder than normal could further
increase December demand by 1.8 Bcf per day relative to
normal weather; likewise, a 5 percent warmer-than-normal
scenario could decrease demand by 1.7 Bcf per day
relative to normal weather.

Fuel Switching
With natural gas markets this tight, there is
significant pressure for demand to be backed out of the
market. Residential and commercial demand is inelastic
to price in the short run, which leaves industrial
demand and power demand as the only relief valve for the
market. This winter we expect

* all plants capable of burning residual fuel oil as an
alternative to gas to do so

* a loss of 700 million cubic feet (MMcf) per day of
demand for power generation relative to last winter

* industrial consumers to switch the equivalent of 500
MMcf per day off of gas

* gas prices to act as a ceiling for residual fuel oil
prices, as much as resid will act as a floor for gas

For December CERA expects an overall demand increase of
4.5 Bcf per day relative to last December and a 14.4 Bcf
per day increase in demand relative to November, with
increasing heating load offset somewhat by fuel
switching.

Supply-The Rebound
The pressure from increasing demand and lower storage
inventories is intense, but US supply is beginning to
rebound. The recent steep decline in US lower-48
capacity is expected to reverse in late 2000, given the
soaring gas-related rig count.

* The success in reversing the decline in the Gulf of
Mexico is related to the combination of

- the ramp-up of the Hickory and Tanzanite subsalt
discoveries on the shelf, adding to the recent startup
of the Muni field; these fields could add over 0.5 Bcf
per day later in 2001

- the response of the shallow water to the strong
late 1999 turnaround in drilling activity

* Other important capacity additions are occurring in
the deepwater Gulf of Mexico, with 0.5 Bcf per day in
2000 and 2001, and onshore, led by the Bossier sand play
in Freestone County, Texas, the Barnett Shale play in
Wise County, Texas, and the Powder River Basin coal seam
play.

* Further increases in drilling are likely to slow. New
deep land rigs are under construction and shallow rigs
are being refurbished with cannibalized parts from older
rigs. Producers are experiencing delays in obtaining
rigs as the supply of quality rigs depletes and drilling
companies struggle to round out drilling crews.

Regional Markets-Wild Winter in the West
Extremely cold weather in the West has brought Rockies
prices close to parity with Henry Hub prices and
triggered early season spikes at Sumas in the north and
Topock in the south. Pipeline maintenance on El Paso is
exacerbating the regional demand pressure and has
contributed to Topock differentials of over $2.00 per
MMBtu. Tight pricing relationships to the Henry Hub in
the San Juan and Rocky Mountains should hold through
February, with significant widening in differentials as
heating loads decline.

Winter has arrived in earnest across North America, but
the start-up of firm transportation service on Alliance
is delayed once again, this time until December 1.
Nonetheless, flows on the pipeline are under way; CERA
estimates that flows during October averaged 450 MMcf
per day. During November that total should climb to 750
MMcf per day, despite the later published start date.
With or without Alliance flows, a weather-driven rebound
in midwestern demand relative to November and December
last year should keep prices in Chicago at a significant
premium to Henry Hub prices. In the Northeast,
differentials remain extremely strong and exposed to
spikes throughout the winter, despite greater flows into
the region from Atlantic Canada this year (see Table 3).

CERA's outlook by region follows:
* Rockies. Very cold weather within the region has
brought Rocky Mountain prices near parity with Henry Hub
prices. A break in the cold or a cold snap in the East
will likely widen the differentials, but strong heating
demand in the region will keep differentials within
about $0.25 per MMBtu below the Henry Hub price. CERA
expects a December average differential of $0.25 per
MMBtu; however, this differential is expected to show
significant volatility based on regional weather. A warm
week in the Rockies could still push differentials
toward $0.50 per MMBtu.

* San Juan. San Juan prices will continue to hold close
to Rockies prices through the winter, with significant
pipeline capacity between the two regions. Heating loads
in the Rockies will determine the San Juan to Henry Hub
differential, with extended cold weather in the Rockies
pulling both prices close to the Henry Hub price. CERA
expects the December differential in the San Juan Basin
to average $0.20 per MMBtu.
* Permian and Mid-Continent. Unlike prices within the
rest of the West, differentials between the Henry Hub
and the Mid-Continent and Permian Basins are likely to
trade within a relatively narrow range during the
winter, as supplies from those basins are pulled either
east or west, depending on regional weather. CERA
expects a Permian to Henry Hub differential of $0.11 per
MMBtu and a Mid-Continent differential of $0.08 per
MMBtu for December.
* Chicago. Alliance flows into the Chicago market are
now running close to 750 MMcf per day. However, the
onset of the heating season has offset those increased
flows and pushed Chicago differentials up to near $0.15
per MMBtu relative to the Henry Hub, despite delays in
the completion of the Vector pipeline. CERA expects the
strong pricing at Chicago to continue, and December
differentials should average $0.25 per MMBtu.

* Northeast markets. Assuming normal weather, we expect
to see December basis for New York relative to Henry Hub
at $1.03 per MMBtu. New England will likely see prices
$0.05-$0.15 higher, depending on the pipeline. Much of
this increased basis differential is caused by fuel
costs. For example, with a 9 percent retention rate from
the Gulf Coast into New England, last December would
have seen retention costs of approximately $0.22; at
$5.70, that same retention equates to $0.50. Despite
additional volumes of gas deliverable into the Northeast
from the Atlantic Canadian fields, there have been no
additional regional pipeline facilities to deliver this
gas to the local markets, and an additional 166,000
MMBtu per day of potential demand will compete for the
capacity. Because of this tightness, should this month's
weather be colder than normal, we could see severe
spikes in basis similar to those seen in January 2000.
These spikes could even exceed the highs seen in
January, depending on the severity of any cold snaps and
the extent to which new electric loads are realized.

Canadian Markets-Winter Begins
The colder-than-normal weather has increased demand in
western Canada but is only now being felt in the East.
Storage peaked in the West in early October at
approximately 225 Bcf below last year's level and 6 Bcf
below the five-year average. Even with modest
withdrawals since that time, storage inventories are
still estimated to be adequate to meet winter needs.
Easter Canadian storage has continued to grow, pushing
levels to over 245 Bcf, 11 Bcf above last year and well
above the five-year average. With the eastward movement
of the colder weather, withdrawals are likely to begin.
This higher level of eastern storage will be useful with
the expected reduction of flows on TransCanada.

The good news resulting from the cold is a more normal
"freeze-up," which bodes well for a longer winter
drilling season. Gas well completions are expected to
reach 8,500 for 2000 and will likely be even higher next
year.

Further Delays for Alliance?
The "commercial" in-service date for Alliance has been
delayed until December 1, the result of a combination of
problems with clearing the line, delays in the
completion of the Aux Sable liquids extraction plant,
the delay of Vector, and a lack of supply. The pipeline
has been flowing gas, however, with volumes building up
since September. It is estimated that flows for November
will average 750 MMcf per day. TransCanada has taken the
full brunt of the Alliance flows so far, with Northern
Border and PGT remaining strong. December should see
Alliance flows build to between 900 and 1,000 MMcf per
day, with modest reductions in flows on Northern Border
and PGT. Storage withdrawals will likely keep
TransCanada reductions close to 350 MMcf per day, year-
over-year, until Vector begins service to eastern
Canada.

High Prices: Strong Pull West
The high demand in the Pacific Northwest has also
provided strength for AECO. The AECO-Henry differential
has dropped to the high $0.30s and low $0.40s as a
result of this increased pull. For December, the
differential is expected to average $0.50 per MMBtu, for
a resulting AECO average of C$6.97 per gigajoule
(US$5.10 per MMBtu).

**end**

Follow URL for PDF version of this message with associated Tables.

*********************************************************
CERA's Autumn 2000 Roundtable event dates and agendas are now available at
http://www.cera.com/event
*********************************************************

**********************************************************************
Account Changes
To edit your personal account information, including your e-mail
address, etc. go to: http://eprofile.cera.com/cfm/edit/account.cfm

This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.

Terms of Use: http://www.cera.com/tos.html
Questions/Comments: webmaster@cera.com
Copyright 2000. Cambridge Energy Research Associates


John and Louise,

I wanted to let you know how much I enjoyed the Beaver Creek offsite and to thank you for the invitation.   I think everyone was impressed with how well this trip was organized - it was first class all the way.  The recreational and social activities were fun, the meetings were informative, and the relationships that were formed and strengthened with other business unit leaders should prove invaluable.

Thanks again!

Craig Breslau


Thank you!  The panel is July 25 from 10:45 a.m. until 12:00 p.m.  I've
attached Scott Smith's bio.  I'll send you the other bios as soon as I get
them.

Samantha

>>> <Richard.Shapiro@enron.com> 07/05/01 03:54PM >>>

I'll do it- Please send me details.

"Samantha Slater" <SSLATER@epsa.org> on 07/05/2001 02:40:30 PM

To:   <Richard.Shapiro@enron.com>
cc:

Subject:  Re: Panel Moderator

Billy Stiles, Florida Energy 2020 Study Commission
Scott Smith, Wisconsin PSC
And I should know by tomorrow if someone from the Indiana URC (hopefully
Chairman McCarty) can join us.

Samantha

Samantha M. Slater
Manager of State & Regional Affairs
Electric Power Supply Association
1401 New York Avenue, N.W.
11th Floor
Washington, D.C.  20005
Phone: 202-628-8200
Fax: 202-628-8260
E-mail: sslater@epsa.org

>>> <Richard.Shapiro@enron.com> 07/05/01 03:38PM >>>

Who's on it?

"Samantha Slater" <SSLATER@epsa.org> on 07/05/2001 02:21:45 PM

To:   <rshapiro@enron.com>
cc:

Subject:  Panel Moderator

Would you be interested in moderating the panel on Competition in Wholesale
Power Markets at the State Issues & Summer Membership Meeting?  The panel
will be held on the morning of Wednesday, July 25th.

Just let me know.  Thanks!

Samantha

Samantha M. Slater
Manager of State & Regional Affairs
Electric Power Supply Association
1401 New York Avenue, N.W.
11th Floor
Washington, D.C.  20005
Phone: 202-628-8200
Fax: 202-628-8260
E-mail: sslater@epsa.org

 - Bio-Smith.doc


Cooper,

So tell me how was you squash game?  Good I hope I have been so busy lately
but I did get a game in yesterday but late and I had to go to the police gym
with a friend cause I could not get a time at the Y but tonight I am playing
there and have a court already so that really works for me.  Well I hope you
are well and still able to meet up sometime.
Take care,

Corinna Johnston
Client Relationship Officer
Tel: (403)221-6021
Fax: (888)272-0007
Email: corinna.johnston@intria.com


----- Forwarded by Tana Jones/HOU/ECT on 06/15/2000 05:44 PM -----

	Tom Moran
	06/15/2000 05:40 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT,
Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, David
Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT,
Linda S Bryan/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT, Sylvia A
Campos/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON,
Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts and Facilities,
Enron Europe Global CounterParty, Stephanie Sever/HOU/ECT@ECT
		 cc:
		 Subject: EOL / Credit / GCP Responses 6/15/00

Please find attached Credit's EOL responses for 6/15/00.

Regards
tm


Todd, I am planning on attending.  Thanks. Lynn Blair

 -----Original Message-----
From: 	"Hudson, Todd" <TGH4@pge.com>@ENRON
Sent:	Tuesday, October 09, 2001 5:12 PM
To:	'kvanpelt@cmsenergy.com'; 'jhickman@nisource.com'; 'jtyoung@nisource.com'; 'Iris_g._king@dom.com'; Hess, Theresa; Blair, Lynn; 'randy.young@gulfsouthpl.com'; 'tom_gwilliam@iroquois.com'; 'michael.d.rasmuson@williams.com'; 'janie.k.nielsen@williams.com'; 'Ruth.Clark@neg.pge.com'; 'jarregu@mail.pnm.com'; 'Michelle_M_Willis@reliantenergy.com'; 'csuarez@reliantenergy.com'; 'pdavidson@socalgas.com'; 'mark.gracey@elpaso.com'; 'klburch@duke-energy.com'; 'mlmccain@duke-energy.com'; 'todd_white@iroquois.com'; 'scotth@questar.com'; 'JStilwell@sppc.com'; 'gsuga@tuscaroragas.com'; 'dale.m.davis@williams.com'; 'ken_schubert@transcanada.com'
Cc:	Hudson, Todd; Pon, Wayman; Snyder, Cheryl; Johnson, Kirk
Subject:	Interconnect Forum Info

Interconnect Forum Participants:

We're looking forward to seeing you all soon, and thought we'd send our
latest agenda to you in case you would like to comment.

*	What is our purpose?
*	Nominations & Contracting Systems best practices/benchmarking.
*	Balancing solutions for problems caused by timing issues in the
Intraday 2 cycle.
*	Hourly Scheduling - presentation by Reliant Energy Gas Transmission
and discussion.
*	GISB 1.5 discussion- Capacity Release standards, Title Transfer
Tracking, 637 Segmentation.

Some folks who had previously confirmed attendance have cancelled due to our
recent tragic events.  Because of this, we would like to reconfirm your
attendance at this time.  Your RSVP is requested by this Friday so that we
can continue our planning with the most current information (for Sunday and
Monday please).

Thank you,

Todd Hudson
Information Systems Analyst
California Gas Transmission
Pacific Gas & Electric Company
415.973.1386


Gerald,

The below Confirmation has been approved by Tyrell Harrison to be sent out. Please incorporate this Confirmation in the Master which is being negotiated.

Any questions please give me a call.

Thanks,
Ellen
x54099

 -----Original Message-----
From: 	Wallumrod, Ellen
Sent:	Friday, July 20, 2001 10:18 AM
To:	Harrison, Tyrell
Cc:	Lucci, Paul
Subject:	Colorado Springs Utilities - Sitara #889014

Tyrell,

Got your voice message last night  -  please review the attached updated Confirmation (see "OTHER" # 1 & # 6).
As you mentioned the Master might take some time to be Executed so I recommend we send this Confirmation as is.
Is Gerald Nemec the attorney working on the Master ? If he is I'll make sure he incorporates this GTC into the Master.

If you have any questions please give me a call.

Regards,
Ellen
713-345-4099


71 to Columbus.  I-10 to Houston.  Loop 610 south(right) for about 5-7
miles(past the Galleria and Highway 59). exit Bellaire Blvd(second exit after
you cross over 59). stay on the access road through the Bellaire exit. the
next light past Bellaire on the access rd is Evergreen---take a right. We are
on College st, which is the first street after the only stop sign on
Evergreen. If you get to S. Rice you have gone too far on Evergreen. Turn
right on College. We are the 3rd house on the left--546 College. Tel #
713-668-1935

	Mrmslane@aol.com
	01/06/2001 09:50 AM

		 To: TexBasque@aol.com, Richard.B.Sanders@enron.com
		 cc:
		 Subject: Hi,

I was wonderding if someone can give me directions to your house from the way
I would be coming in from Austin.


Please redraft the New Power September activity.  I'm looking for the deals
shown below AND there should be a demand charge of $892,040.00 on deal 377245
and a demand of $624,028.00 on deal 381811.

If you see the items above, please send me a new worksheet.

Thanks
---------------------- Forwarded by Chris Germany/HOU/ECT on 10/10/2000 04:12
PM ---------------------------

Chris Germany
10/10/2000 12:55 PM
To: Joann Collins/Corp/Enron@ENRON, Alvin Thompson/Corp/Enron@Enron
cc:
Subject: New Power Deals

I just entered the following 2 deals in Sitara for September, deals 433359
and 433385.  Please path these deals in Unify.

Thanks


---------------------- Forwarded by John Arnold/HOU/ECT on 11/09/2000 03:54
PM ---------------------------

"Mancino, Joseph (NY Int)" <JMANCINO@edfman.com> on 11/09/2000 08:32:32 AM
To: "'jarnold@enron.com'" <jarnold@enron.com>
cc:
Subject: ACCESS Trades for 11/09/00

Here are the trades executed on ACCESS last night:

S   50   Z     5350
S   50 Z    5335

B   9   Z   5330
B   2   Z   5320
B   4   Z   5322
B   6   Z   5323
B   5   Z   5345
B   10  Z   5355
B   3   Z   5355
B   5   Z   5358

B   100   Z   5323
S   100   F   5369

Joseph Mancino
E.D. & F. Man International
(212)566-9700


KRTH? 9:10 - 9:55 JP Pritchard 630-3600


I need approval for this ERCOT Schedule C.   The e-mail from Stacey outlines the details.

Thanks.

 -----Original Message-----
From: 	Gilbert-smith, Doug
Sent:	Tuesday, May 29, 2001 11:18 AM
To:	Presto, Kevin M.
Subject:	FW: LT Ercot Schedule C

Kevin,

This is for the full requirements uncertainty associated with green mountain and includes a reserve against teh liabilitiy exposure for the QSE agreements.

Please let me know if you have any other questions,

Doug

 -----Original Message-----
From: 	White, Stacey
Sent:	Friday, May 25, 2001 3:56 PM
To:	Gilbert-smith, Doug
Subject:	LT Ercot Schedule C

Did you get this reserve cleared through Lavorato?  If you have not, can you do so immediately.

Thanks,
Stacey
---------------------- Forwarded by Stacey W White/HOU/ECT on 05/25/2001 03:54 PM ---------------------------

Andrea Dahlke@ENRON
05/11/2001 01:59 PM
To:	Chris Abel/HOU/ECT@ECT, Anita Luong/HOU/ECT@ECT
cc:	Stacey W White/HOU/ECT@ECT, Casey Evans/Corp/Enron@Enron
Subject:	LT Ercot Schedule C

Chris and Anita-

I created a Schedule C in LT-Ercot today for ($1,713,647) relating to the BP Energy/ Green Mountain transaction.  The reserve is broken out as follows:

Description			Volume		Reserve		Amount
Energy Reserve		(623,144)		$1.50			($934,717)
Ancillary Reserve		(623,144)		$1.00			($623,144)
QSE Reserve			(623,144)		$0.25			($155,786)
TOTAL									$1,713,647

Power Structuring as provided the following amortization schedule for these reserves:

Let me know if you have any questions.

Andrea

<Embedded Picture (Device Independent Bitmap)>
<Embedded Picture (Metafile)>


Can we keep the upside -- I believe the answer is clearly "no" unless/until
we get a favorable ruling on our share-the-upside filing.  Til then we're
bound by the billing provisions on Sheet 95H.
Sometimes the answers clarify themselves after you leave the question sitting
out there a while...

As for the contract rights of replacement shippers, I would say the tariff
language gives us some leeway on whether to automatically give replacement
shipper the releasing shipper's discount at alt. points.  If we don't, and
the replacement shipper uses an alt. point and has to pay max rate, releasing
shipper gets a refund under our billing provision.  I know Lindy has some
clear ideas on what we want here... we can discuss more if you like.


Check this out. Can you get in touch with Fab.
PL

---------------------- Forwarded by Phillip M Love/HOU/ECT on 02/20/2001
08:10 AM ---------------------------

rachel.bonilla-kragel@accenture.com on 02/18/2001 09:02:30 PM
To: Phillip.M.Love@enron.com
cc:
Subject: Jazz Fest

Hey Phillip.....I am on a plane back to St. Paul (Sunday night).  My life
completely (other than Jason and Drew) sucks right now.  I can not wait
until this project is done and over with.  I have reached the point of
thinking about quitting.  Funny how only 5 weeks ago my career counselor
asked me regarding that same question...and I had zero intention.

Anyhow, I spoke with Fabiola..and she is still interested in coming out to
Jazz Fest....and was curious in speaking with you and/or Ashley about
rooms.  She is not 100%...but is curious in talking with you re:
possibilities.  Her email is fabiola_rock@hotmail.com...and her cell number
is 617-515-6760.

Give the little one love for me...
rbk

Rachel Bonilla-Kragel
Accenture
North American C&HT
Denver - Octel 359/6017 - Direct Dial (720) 359-6017
rachel.bonilla-kragel@accenture.com

This message is for the designated recipient only and may contain
privileged or confidential information.  If you have received it in error,
please notify the sender immediately and delete the original.  Any other
use of the email by you is prohibited.


New Version 8 of the IntercontinentalExchangeTMIs Now Available !

ATTENTION ALL TRADERS. We are pleased to announce the release of Version 8 of the IntercontinentalExchangeTM. This latest version has many powerful new features including:

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A Market Maker Window
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2)       When the login page appears, enter your production ID and Password in the fields provided
3)       Click the Release Notes tab on the menu and then click the link for version 8 Release Notes.

Please Contact Us

We encourage you to contact one of our account representatives with any questions, comments, or problems you may encounter with Version 8. A list of account representatives and contact information is provided below:

New York  (646)-792-2620

Joseph Adevai
Mike O'Neill
Chris D'Ambrosio

Houston  (713)-840-6494

Lance Leffingwell
JC Kneale

Chicago  (312)-674-4915

Bud Hum

London  (44)-207-484-5544

Stephanie Trabia            ext 5546
Alan Newman                ext 5548
David Hewitt                  ext 5545

Singapore  (011)-65-342-2931

Soo Molyneux
Charlotte Marson


Don't forget the wood.  Mike is putting pressure on me.  Good luck.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Zimin,

I shall be in California on Thu.

Vince

 -----Original Message-----
From: 	Lu, Zimin
Sent:	Tuesday, June 19, 2001 1:43 PM
To:	Issler, Paulo; Lee, Bob; White, Bill; Schroeder Jr., Don
Cc:	Crenshaw, Shirley; Kaminski, Vince J
Subject:	P+ pricing/hedging

A meeting is scheduled with Bill White and Don Schroeder at 4:00pm at 19C2.
Bill and Don would like to talk about P+ pricing / hedging issues and NYMEX
calendar spread option model that Pavel built before his departure.

Please review  the P+ model and the doc prepared by Stinson. Let us talk on
Thursday.

Zimin

Shirley,

Could you secure the meeting room from 4-5pm on Thursday ?
And mark that on Vince's calender if possible. Thanks.

 << File: Adjust Vol2 test.xls >>

 -----Original Message-----
From: 	Gibner, Stinson
Sent:	Wednesday, June 06, 2001 5:34 PM
To:	Lu, Zimin; Kaminski, Vince J
Subject:

 << File: PPlus.doc >> This is an early draft document and should be revised, but does explain the spread option structure.

--Stinson


Hi.  I paged you soon after I left the school, but never heard back.  I also
tried your cell, but it said it wasn't on.  Are you plugged in today?

ckm


Attached is the PR Report for our weekly conference call.

Please call with questions.

Thanks,
Jean
916-447-8186

 - 12.pdf


Marie was just telling me about your rough tour of duty in the French Alps
next week.  I speak a little high school French...perhaps you might need some
assistance while you are there...?!


He is chatty in the am.  I enjoy the ride with him.

I'll let CB know that I'm in town.

Kay

"Neil Mann" <nmann@erac.com> on 01/23/2001 10:27:22 AM
Please respond to <nmann@erac.com>
To: "C. Kay Mann (E-mail)" <Kay.Mann@Enron.com>
cc:

Subject: Good Morning

Good morning sweetie!
Hope your day is going well.
Michael was in a great mood this morning...he was talking non stop on the
way to school .
NM


Dave would like to cancel the bloomberg program that he presently has on his
computer.  Can you do this for him or can you direct me to the proper person ?

Thanks for your help.

Kay
713-853-0643


i'm in for whatever/wherever.

 -----Original Message-----
From: 	Bass, Eric
Sent:	Monday, January 28, 2002 9:45 AM
To:	Baumbach, David; Jeganathan, Lenine; Olsen, Michael; Lenhart, Matthew; Blanchard, Timothy; Winfree, O'Neal D.; Ryder, Patrick; Love, Phillip M.; 'mballases@hotmail.com'; Kevin Boone (E-mail); Val Generes (E-mail)
Cc:	Husser, Shanna
Subject:	Super Bowl Party - 2/3/02

I was thinking of having a get together at my place but I wanted to gauge interest first.  Let me know if you are interested.  I will send out another e-mail if I get enough responses.

-Eric


Scott: Steve Kean and I discussed a conversation that Tom Gros had with him
regarding assistance relating to the WTO. You will recall that Carla Hills
and Company is providing assistance to the US WTO Energy Services Coalition
and I raised the issue of e-commerce with Bob Fisher of that company this
morning. He was kind enough to send the attached paper which will of of
interest to you.

I also spoke with Allan Miller of EDS who is leading the Coalition of Service
Industries e-commerce effort and he briefed me on several WTO related matters
likely to be considered during the three or so years of upcoming
negotiations. I believe several of those issues especially the desire of the
US e-commerce industry to fight efforts by the Europeans to restrict
cross-border committments, add costly regulation (the US e-commerce industry
opposes regulation but does want to have services addressed) and achieve
technical neutrality are potentilly important to ECI.

Allen is also sending me a paper that I will forward to you.

You were good to introduce us to Steve Miller of your Washington, DC law firm
group who is experienced in global regulatory and trade developments. He sent
us both several e-mails but I (for fear of running up legal bills
unnecessarily) but I have never responded nor asked him to get involved.

We plan to have an addition to our Washington staff in January or February of
an executive who can address these matters globally.

After you or your ECI collegues reviews the various papers, I would be
pleased to review your priorities relating to WTO.

Regards,

Joe
---------------------- Forwarded by Joe Hillings/Corp/Enron on 11/15/99 02:09
PM ---------------------------

"Robert C. Fisher" <RCFisher@HillsandCo.Com> on 11/15/99 02:31:56 PM
To: Joe Hillings/Corp/Enron@ENRON
cc:

Subject: Energy Services and E-Commerce

Joe -- per our discussion this morning, attached are papers we gave to
Bill Thomas's staff related to energy services and e-commerce.  Our
understanding is that Mr. Thomas plans to circulate the materials to
other members.

If there is anything we can do to help you on e-commerce, just let us
know.

Regards -- Bob

 - Environment-energy~services~paper~11-99.doc
 - E-commerce~paper~11-99.doc


USA: INTERVIEW-Enron impatient at power deregulation pace.
Reuters English News Service, 10/12/01
UK: Enron's European electricity trading volumes soar.
Reuters English News Service, 10/12/01

Northwest Natural Picks Merrill, CSFB to Arrange $2.1 Bln Loan
Bloomberg, 10/12/01

UK: INTERVIEW-Metals screen trade set to evolve - Spectron.
Reuters English News Service, 10/12/01
USA: Citizen wins two Petroecuador oil contracts.
Reuters English News Service, 10/12/01

British Court Blocks Indian State's Enron Challenge, AP Says
Bloomberg, 10/12/01

USA: INTERVIEW-Enron impatient at power deregulation pace.
By Chris Baltimore

10/12/2001
Reuters English News Service
(C) Reuters Limited 2001.

WASHINGTON, Oct 12 (Reuters) - Nearly 10 years after Congress passed the Energy Policy Act in 1992 to promote competition in the nation's $220 billion wholesale power market, Enron Corp is growing impatient.
From the U.S. Supreme Court to Congress and the Federal Energy Regulatory Commission, the Houston-based energy and commodities trading giant has spread its open-market gospel.
"Five years ago we clearly thought we would be much farther along than we are now," Rick Shapiro, Enron's managing director of government affairs, told Reuters in an interview on Friday.
"Finishing the job of making wholesale markets work across the U.S. is our number one objective," Shapiro said.
Enron has a large stake in the regulatory debate. With wide-ranging commodity positions from lumber to pulp to bandwidth, oil and natural gas, its strategy hinges on the ability to transfer those products from buyer to seller more cheaply and quickly than its competitors.
For the power market, that means Enron needs easy access to electric transmission lines, the interstate highway system that allows it to wheel supplies between regions and capitalize on short-term price imbalances.
UTILITIES BLOCK COMPETITION
Enron's big problem? Traditional utilities own transmission lines and have shaped the rules to block new entrants and favor their own generation, Shapiro said.
"Vertically integrated monopolies have been very effective in delaying wholesale competition across the board," he said.
In its pleas to Supreme Court justices and regulators, Enron has tried to empower federal regulators to force utilities to open their wires to competition.
The Supreme Court last week heard oral arguments in a case that could be a watershed for the U.S. power industry and decide whether FERC has the right to drive competition on state transmission networks.
In a classic battle of state versus federal jurisdictional turf, Enron wants the court to give FERC more authority to compel states to open their transmission grids to competitors.
Meanwhile, New York has brought a companion case that says FERC has gone too far and the court should give control of transmission wires back to the states.
"This is an example of an agency that has overstepped its bounds," Lawrence Malone, general counsel for the New York State Public Service Commission, said at the oral argument.
New York wants the court to revoke FERC's authority to regulate retail sales, contending electricity involved in such sales stays within state boundaries and is not subject to federal legislation.
"I think a victory for New York would be absolutely disastrous for consumers across the country," Shapiro said.
"FERC has jurisdiction. All they need to do is exercise it," Shapiro said, echoing Enron lawyers' case to Supreme Court justices that existing laws give FERC the power to do Enron's will.
Enron does not see a recent congressional push for energy legislation as key to its plans, Shapiro said. "FERC is doing its job on the electricity front. I'm not sure that legislation is required on that front."
FERC SHOWS PROMISING SIGNS
With new Chairman Pat Wood at the helm, FERC is moving in the right direction to drive competition, Shapiro said. "It's early in his tenure," Shapiro said of Wood. "Many of the signs are promising."
Wood has made so-called regional transmission organizations a high priority and set aggressive agency rules to drive utilities to join them.
RTOs establish common rules that allow utilities to smoothly trade bulk electricity across the borders of their own local transmission systems. Enron sees RTOs as a positive step toward competition.
In what he called a "carrots and sticks" approach, Wood signaled in late September that utilities must either join RTOs or face losing the right to sell power in wholesale markets.
FERC will hold a week-long meeting on RTOs beginning Monday.
Enron is skeptical that carrots are useful, and is a bigger fan of sticks, Shapiro said.
Utilities have "gotten quite fat over the last nine or 10 years," Shapiro said, and will shrug off FERC's incentives. "I'm not sure there are a sufficient number of carrots in the world right now to incentivize these companies," Shapiro said.

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

UK: Enron's European electricity trading volumes soar.

10/12/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, Oct 12 (Reuters) - U.S. energy group Enron on Friday said it traded five times as much wholesale electricity in continental Europe during the first half of this year as in the same period last year.
Continental power trading director Gregor Baeumerich told Reuters the company traded 523 terawatt hours in the first half - roughly equivalent to annual German power demand - up from 93 terawatt hours in the first half of 2000.
"On average we are now doing around 200 deals a day with about 300 counterparties," he said.
Liquidity in Germany, Europe's biggest power market, had risen partly due to more trading by municipal utilities, he said.
Baeumerich said volumes in the French power market had risen sharply in recent weeks after Electricite de France last month auctioned off access to 1,200 megawatts of it generation capacity.
He said annual contracts for physical baseload power for 2002 were trading daily. Up to 30 companies participated in the French market.
"Utilities from across the continent are trading the French market," said Baeumerich.
Much of the trading took place on France's borders with neighbouring countries, he said.

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

Northwest Natural Picks Merrill, CSFB to Arrange $2.1 Bln Loan
2001-10-12 13:05 (New York)

Northwest Natural Picks Merrill, CSFB to Arrange $2.1 Bln Loan

     New York, Oct. 12 (Bloomberg) -- Northwest Natural Gas Co.
picked Merrill Lynch & Co. and Credit Suisse First Boston to
arrange a $2.1 billion loan to help finance its acquisition of
Portland General Electric, said bankers familiar with the loan.

     The high-yield loan, the largest announced since the
terrorist attacks of Sept. 11, will include $450 million of
working capital. Another $450 million will be replaced by a junk
bond of the same size, the bankers said.

     Merrill, which advised Northwest on its acquisition, will
manage the bond sale. Credit Suisse advised Enron Corp. on the
sale of Portland for $2.9 billion in cash, stock and assumed debt
to Northwest.

     Portland, Oregon-based Northwest also plans to issue $150
million of common equity once the acquisition is closed, according
to Chief Executive Richard Reiten. The company expects a nine-
month to 12-month regulatory approval period, Reiten said.

     Northwest is forming a holding company to take on the debt
needed to finance the transaction. Standard & Poor's said that the
debt at the holding company is expected to be rated below
investment grade. The utilities -- Northwest Natural and Portland
General -- are expected to keep their investment-grade ratings,
S&P said.

UK: INTERVIEW-Metals screen trade set to evolve - Spectron.
By Andy Blamey

10/12/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, Oct 12 (Reuters) - Electronic trading of base metals futures has established a firm foothold in the market but the nature of online trading platforms looks set to evolve further, says Gavin Gross, head of LME metals at Spectron Futures Ltd.
UK-based energy and commodities broker Spectron's electronic platform for the trading of London Metal Exchange (LME) contracts has become required viewing for traders alongside the LME's own system LME Select and the Enron Group's EnronOnline.
"I think we've proved that people will trade LME derivatives contracts online, because there are some great advantages to doing so," Gross told Reuters in a telephone interview.
"And unlike the physical markets, where things haven't really taken off online, all three platforms are pretty much indispensable to the market."
Both Spectron and LME Select are neutral platforms in which Category 1 and Category 2 LME members trade with each other, while EnronOnline is open to a wider membership but has Enron itself as the sole counterparty in each transaction.
This leaves a gap in the market for a multi-party trading system open to industry participants beyond the immediate trading community, Gross suggested.
"I think the clear trend for metals derivatives trading for the future is for open platforms which would allow dealers and clients in the market to interact with each other online," he said.
Direct access for clients to an electronic trading environment could mean changes in the role of the broker, he said.
"Clients will have the advantage of more control, more visibility and more transparency in what they do. However, they'll have to pay for services," Gross said.
"You could see a situation where dealers specialise in different areas - certain dealers would provide credit functions, certain institutions would provide clearing, others would provide execution and certain companies would provide market-making."
DIFFICULT CONDITIONS
Difficult market conditions are already forcing metals traders to rethink their activities; this week alone has seen N.M. Rothschild & Sons exit base metals trading and both Bank of Nova Scotia and Enron looking to scale back.
"On the LME now you've got low volumes, falling volatilities, falling prices and we're in the grips of a bear market. It's very, very poor for business in general," Gross said.
"There are too many dealers around chasing a shrinking amount of business...Each company is going to have to look very carefully at their business and their staffing levels."
Spectron has not been immune from declining volumes.
"Our volumes for the first 12 months of operation were fantastic, way beyond what we had expected. However, our volumes have fallen in the recent quarter," Gross said.
"That's due to two factors: first, the overall market activity is lower, and second LME Select has managed to attract some of the business that we would previously have had 100 percent of."
The company is now looking at ways to further develop its trading platform.
"We're beginning to investigate ways to add certain features and do things differently. That might involve creating an alternative platform where clients could access prices and thereby widen the service," Gross said.
But, he stressed, "we have to keep the interests of our dealer clients foremost."
UNCERTAINTY
In the current environment, the LME's refusal to throw its weight behind either open-outcry floor trade or its new screen system - the exchange has taken pains not to express any preference and to "allow the market to decide" - may prove to be counterproductive, Gross said.
"By having two systems running side by side ... the exchange is almost moving in two totally different directions," he said.
"There's a feeling that the ring is doomed, which doesn't do anything to encourage its use, while the reluctance to fully back electronic trading means that you're still only seeing a trickle of business going through Select in terms of overall volumes."
While preferences vary in different sectors of the market, the current uncertainty is helping no-one, he said:
"Metals traders just want to trade. They just want to know with some kind of certainty how the market will be structured in future so they can structure their business to support that and make money."

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

USA: Citizen wins two Petroecuador oil contracts.

10/12/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Oct 12 (Reuters) - Oil firm Citizen won the remaining two of Ecuador's crude oil contracts by matching the price differential of $6.97 below West Texas Intermediate (WTI) set by another bider, Petroecuador said Friday.
Petroecuador awarded U.S.-based Citizen two contracts, each of 12,000 barrels per day (bpd), for three months after matching Coastal Petroleum's bid of $6.97 under WTI, with a floor price for WTI at $20 per barrel.
Petroecuador last week retendered eight three-month crude lots, each for 12,000 bpd, following a price dispute with former contract holders that led Ecuador's state oil company to break the deals.
Enron Corp. and Rio Energy were awarded earlier this week one 12,000 bpd contract each, while Anglo Energy and Coastal each will take two contracts.
The new contract holders will start loading their first cargo during the first half of November, a Petroecuador official said.
Petroecuador will set the price of Ecuador's crude for December and January based on market values.

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

British Court Blocks Indian State's Enron Challenge, AP Says
2001-10-12 12:25 (New York)

     Mumbai, Oct. 12 (Bloomberg) -- Enron Corp.'s bid for
international arbitration over its Dabhol Power Co. project to
recover claims of as much as $5 billion can't be delayed with
legal action by an Indian state government, a Commercial Court in
London ruled, the Associated Press reported.

     The injunction prevents the Indian state of Maharashtra from
initiating legal action that would delay arbitration of disputes
over the Houston-based power company's project, AP said, citing
Enron.

     The injunction obtained Wednesday is separate from a case
pending before the state-owned Maharashtra Regulatory Commission,
AP said. The Maharashtra State Electricity Board has said it can't
afford the energy prices negotiated seven years ago.

     An Indian court has ordered a stay until a decision is
reached on whether the commission has jurisdiction in the matter.
Enron has a 65 percent stake in 2,184-megawatt power project,
India's biggest foreign investment, AP said. The company wants to
pull out of India and recover its investment and that of its
partners, General Electric Co. and closely held Bechtel Group.


http://www.socalgas.com/residential/billpay/monthly/price.html
---------------------- Forwarded by Jane M Tholt/HOU/ECT on 01/08/2001 12:34
PM ---------------------------

"Hemmerly, James A. - TP4JAH" <JHemmerly@socalgas.com> on 01/08/2001 10:41:17
AM
To: "'jane.m.tholt@enron.com'" <jane.m.tholt@enron.com>
cc:
Subject: Imbalance Charge Website

http://www.socalgas.com/cgi-bin/tariffbook?T54+1

Jim Hemmerly
Natural Gas Trader
Southern California Gas Company
Telephone Number (213) 244-3864
jhemmerly@socalgas.com


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 - PG&E Ltr re ISO Funds.pdf


Enron executives enter hot seat as sham transactions alleged
 <http://www.chron.com/cs/CDA/story.hts/special/enron/1244566>

Deal paid off for Fastow proxy
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244641>

Quiet former exec back in spotlight
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244526>

Enron lawyer sounded alarm over mushy partnership deals
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244523>

Lays selling houses, land worth millions
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244514>

Letter links Lay to federal energy regulator
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244510>

Congress is warned of investor illiteracy
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244503>

Cornyn supports revisions in 401(k)s
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244493>

YMCA facility near Katy will keep Lay name for now
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244458>

Andersen given 20 days to send data to creditors
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244445>

Enron Boys & Girls Club gets new name
<http://www.chron.com/cs/CDA/story.hts/special/enron/1244433>

It's now a verb, as in, `Take the money Enron'
<http://www.chron.com/cs/CDA/story.hts/special/enron/1243790>


Tim,

Per your request.

Everybody else:  please forward corrections/updates to me.

Thanks,

Alan Comnes