<http://secure.scientech.com/images/spacer.gif>	  <http://secure.scientech.com/images/spacer.gif>
  <http://secure.scientech.com/_IA_TEST/Corner_TL.jpg>	  <http://secure.scientech.com/images/spacer.gif>	  <http://secure.scientech.com/_IA_TEST/Corner_TR.jpg>
	  <http://secure.scientech.com/rci/wsimages/ia_banner02.gif>
  <http://secure.scientech.com/_IA_TEST/Corner_BL.jpg>		  <http://secure.scientech.com/_IA_TEST/Corner_BR.jpg>

  <http://secure.scientech.com/images/spacer.gif>	 <http://secure.scientech.com/specialpages/Multi_Client.asp>

  <http://secure.scientech.com/images/spacer.gif>	  <http://secure.scientech.com/images/spacer.gif>
	  <http://secure.scientech.com/rci/wsimages/will100border_copy.jpg>
  <http://secure.scientech.com/_IA_TEST/Corner_TL.jpg>		  <http://secure.scientech.com/_IA_TEST/Corner_TR.jpg>
	  <http://secure.scientech.com/images/spacer.gif> <http://www.thestructuregroup.com>
  <http://secure.scientech.com/images/spacer.gif> <http://secure.scientech.com/specialpages/Strategic_Planning.asp>   <http://secure.scientech.com/images/spacer.gif> <http://secure.scientech.com/rci/details.asp?ProductID=909>   <http://secure.scientech.com/images/spacer.gif>
  <http://secure.scientech.com/_IA_TEST/Corner_BL.jpg>		  <http://secure.scientech.com/_IA_TEST/Corner_BR.jpg>

November 12, 2001

Dynegy and Enron
Announce Merger

By Will McNamara
Director, Electric Industry Analysis

[News item from Reuters] Dynegy Inc. (NYSE: DYN) agreed on Nov. 9 to acquire rival Enron Corp. (NYSE: ENE) for some $9 billion in stock, underlining the dramatic reversal of fortunes for the Houston-based energy trading giant that was valued last year at nearly $80 billion. Enron's stock fell sharply in the past month due to investors' concerns about murky transactions that sparked an investigation by U.S. regulators and damaging downgrades by credit rating agencies. The merged company will retain the Dynegy name. It will have annual revenues of more than $200 billion and assets worth $90 billion, including more than 22,000 megawatts of electricity generating capacity and 25,000 miles of natural-gas pipelines. It will be North America's biggest marketer and trader of natural gas and electricity, positions previously held by Enron.

Analysis: Well, it's now official. The announcement of what presumably will be the final chapter in the Enron saga came with much fanfare at the end of last week. It is indeed a dramatic end. Enron, the maverick and innovative company that has often been credited for literally creating deregulated markets in the energy industry, will no longer exist after what has been a very quick and unbelievable fall from grace over the last several months. Dynegy, the slow and methodical company that took a more traditional approach toward success, is making a stunning acquisition of its formal rival and locking in much of the industry market share of Enron. Can there be any doubt that this is the energy industry's manifestation of the tortoise and the hare parable? Enron has clearly lost the race to Dynegy, but is making a smart choice to be bought, considering its desperate circumstances and the unlikelihood of its regaining financial strength on its own. For Dynegy, this acquisition is a major win, as the combination will create the biggest and strongest energy merchant in the world.

There are so many interesting dimensions to this mammoth deal. Before addressing some issues related to the approval of the deal, let's establish some of the key points of the merger agreement. There have been some mixed reports, but it is generally believed that Dynegy is buying Enron for about $10 a share, quite a steal considering that just over a year ago Enron was trading at close to $90 a share and had a market value of nearly $70 billion. Under terms of the agreement, Enron shareholders will receive 0.2685 Dynegy shares per share of Enron common stock. Dynegy's current stockholders (including ChevronTexaco Corp., which currently owns 27 percent of Dynegy) will own approximately 64 percent of the combined company, while Enron's stockholders will own approximately 36 percent of the combined company's stock at closing.

In addition, Dynegy will provide an immediate $1.5-billion asset-backed equity infusion into Enron to help the company with its current financial woes, followed by an additional infusion of $2.5 billion into the combined company by ChevronTexaco. Chuck Watson, chairman and CEO of Dynegy, will retain his position at the new company. Steve Bergstrom, president of Dynegy, and Rob Doty, chief financial officer, will retain their positions at the new company. It is not presently known what role, if any, Ken Lay, current CEO of Enron, will hold at the new company.

Of course, this acquisition could not have taken place if Enron had not fallen into a very vulnerable spot this year. Quite literally, Enron was pushed into this deal because it was running out of cash, its stock had tanked and its credit ratings were slashed to near junk levels, all within the last several weeks. Enron's decline over the course of 2001 has been the result of losses in its telecom sector, losses from its involvement in India, the departure of its former CEO Jeffrey Skilling, a Securities and Exchange Commission (SEC) investigation into some of its business practices, and lack of investor confidence about Enron's honesty in its financial reporting. This last point gained validity last week when Enron announced that it had overstated earnings by 20 percent over the last four years and investors should disregard the company's financial statements from 1997 through the first half of 2001. The restating of its earnings for the last five years sliced $591 million from Enron's reported profits. In addition, Enron revised its debt upward in each year from 1997 to 2000. At the end of 2000, Enron's debt was $10.86 billion, $628 million more than it had previously reported. By not reporting this debt earlier, Enron presumably was able to maintain a stronger credit rating than it would have had the accurate records been disclosed.

The key value for Dynegy in this acquisition is Enron's successful energy trading business. In addition, Dynegy could also find synergies in Enron's retail unit, Enron Energy Services and EnronOnline, the company's electronic trading unit. Dynegy has a similar trading site known as Dynegydirect, which was launched after Enron gained the first-strike advantage in this market space. Details are still emerging, but it would make sense if Dynegy opted to not purchase other units under Enron's business structure, such as the company's water and telecom businesses, which are losing money. Dynegy has its own telecom unit, which has also lost money this year, so it may not want to expand in this slow-growing sector at this time. Vivendi Environnement, a French company that has expanded into various lines of business, has reportedly expressed interest in the remaining subsidiaries of Azurix, Enron's struggling water subsidiary. Note that Enron sold Azurix North America to American Water Works.

The deal is subject to regulatory reviews and shareholder approval from Dynegy and Enron shareholders. Dynegy shareholder approval may be contingent upon any possible downgrades on its long-term debt that Dynegy could encounter with the purchase of Enron. At this juncture, it does not appear that Dynegy will be downgraded, but this is a fast-changing story and conditions could change abruptly. Financing the deal may also be an issue, even with the infusion of capital from ChevronTexaco. Dynegy reportedly has $3 billion worth of debt and has a market capitalization of $11.7 billion. Thus, Enron's own more substantial debt may be too significant for Dynegy to absorb, a concern that may cause Dynegy shareholders to veto the deal. This issue could be helped if Dynegy only elects to purchase some of Enron's assets and if there is some repair work done on Enron's balance sheets.

The issue of regulatory approval could be difficult, as the combination of the two huge companies may cause regulators to be concerned about market power and antitrust issues. The review of this merger will be unprecedented, considering that the wholesale natural-gas and electricity trading market is still fairly young. Certainly, a deal of this magnitude has not previously occurred in the deregulating energy industry. It is not presently clear which regulatory agency will be involved in the review, although the Federal Energy Regulatory Commission (FERC), the Federal Trade Commission and the Justice Department could all be involved. FERC would most likely become involved only if the acquisition includes the transfer of a physical asset, such as a pipeline. FERC may not become involved if the deal is structured solely as an exchange of stock. Not involving FERC would be more advantageous for Dynegy and Enron as the timeline for approval would be significantly shorter.

An issue that most likely will be at the top of the list of review items for regulators would be the extent to which the combination of Enron and Dynegy would hold market power in the natural-gas trading space, which could pre-empt market entry by other competitors. The combined company would be considerably larger than its nearest competitors. Scope and scale are considered the top competitive assets in the trading sector, and the combination of Dynegy and Enron will certainly have those assets in abundance. It will fall on regulators to determine if the combined company is so large that it precludes other competitors from emerging into the same space.

To say that this deal is a sweet victory for Chuck Watson is an understatement. The two rival companies followed very different paths to success. Enron, under the leadership of Jeffrey Skilling in particular, espoused an unorthodox belief that the company did not need to own physical assets in order to achieve success in the energy-trading space. Dynegy, on the other hand, approached the market from the opposite perspective, and diligently acquired diverse generation assets across the United States and internationally to support its trading operation. Up until the start of 2001, it appeared that Enron's strategy was the more successful of the two. Enron, with $100 billion in revenues and $1 billion in profits in 2000, ranked fifth on Fortune 500's list of largest U.S. companies. In contrast, Dynegy ranked 54 on the same list and had $29 billion in revenues and $500 million in earnings. However, 2000 turned out to be Dynegy's year and the success continued into 2001, the very year that would bring Enron's downfall. Enron's problems culminated in $638 million in losses in the third quarter, after taking $1.01 billion in charges associated with several of its non-core businesses. Taken with the other factors plaguing the company, Enron became exceptionally vulnerable and prone to a takeover, which has now provided Dynegy with a strong gain.

The purchase of Enron will literally quadruple Dynegy's size and should immediately provide an accretive earnings contribution. Further, Dynegy claims that it expects a 15- to 20-percent annual earnings growth over the next three years following its planned acquisition of Enron. If it gains all of the necessary regulatory approvals, Dynegy will become the undisputed market leader in the energy industry, with annual revenues of $200 billion and $90 billion in assets. The company will have 22,000 MW of generating capacity, which moves its closer to the previously established goal of accumulating 70,000 MW by 2005. In other words, the combined company will dwarf any other competition in the trading sector and be considerably ahead of its nearest competitors such as Mirant or Duke Energy in terms of size, resources and assets.

Word of the acquisition caused Enron's shares to increase some, one of the few upward bumps that the company had experienced in the last few months. Shares of Enron rose 44 cents, or 5.2 percent, to $8.85 in mid-day trade on the New York Stock Exchange on Nov. 9. As of early morning trade on Nov. 12, Enron shares were priced at $9.40. Shares of Dynegy gained $2.24, or 5.8 percent, to $41 in early trade on the New York Stock Exchange.

An archive list of previous IssueAlert articles is available at
www.scientech.com <http://secure.scientech.com/issuealert/>

  _____

We encourage our readers to contact us with their comments. We look forward to hearing from you. Nancy Spring  <mailto:nspring@scientech.com>

Reach thousands of utility analysts and decision makers every day. Your company can schedule a sponsorship of IssueAlert by contacting Jane Pelz  <mailto:jpelz@scientech.com>at 505.244.7650. Advertising opportunities are also available on our Website.

  _____

Our staff is comprised of leading energy experts with diverse backgrounds in utility generation, transmission and distribution, retail markets, new technologies, I/T, renewable energy, regulatory affairs, community relations and international issues. Contact consulting@scientech.com <http://consulting@scientech.com> or call Nancy Spring at 505.244.7613.

  _____

SCIENTECH is pleased to provide you with your free, daily IssueAlert. Let us know if we can help you with in-depth analyses or any other SCIENTECH information products. If you would like to refer colleagues to receive our free, daily IssueAlert articles, please register directly on our site at secure.scientech.com/issuealert <http://secure.scientech.com/issuealert/>.

If you no longer wish to receive this daily e-mail, and you are currently a registered subscriber to IssueAlert via SCIENTECH's website, please visit <http://secure.scientech.com/account/> to unsubscribe. Otherwise, please send an e-mail to to IssueAlert <mailto:IssueAlert@scientech.com>, with "Delete IA Subscription" in the subject line.

  _____

SCIENTECH's IssueAlert(SM) articles are compiled based on the independent analysis of SCIENTECH consultants. The opinions expressed in SCIENTECH's IssueAlerts are not intended to predict financial performance of companies discussed, or to be the basis for investment decisions of any kind. SCIENTECH's sole purpose in publishing its IssueAlert articles is to offer an independent perspective regarding the key events occurring in the energy industry, based on its long-standing reputation as an expert on energy issues.

Copyright 2001. SCIENTECH, Inc. All rights reserved.
  <http://infostore.consultrci.com/spacerdot.gif?IssueAlert=11/12/2001>


RRN Realty Referral Network Inc. pays CASH to HomeBuyers and HomeSellers!!!
                          "NO CATCHES, NO GIMMICKS!!!"
RRN will refer you to a licensed Real Estate Agent in your area and pay you
CASH when you complete a sale and/or purchase of real estate with that Agent!!!

Bonus Draw with 1/100 chance of winning $10,000!!! (1 entry per transaction)

All information is available at  www.rebate20.com .

If you wish to be removed from further mailings simply reply using the following link
mailto:rrn@radiant.net?subject=remove


I'll call you tonight.


Overqualified for our group.  Maybe you know of something.

---------------------- Forwarded by Hunter S Shively/HOU/ECT on 09/08/2000
05:01 PM ---------------------------

David W Delainey
09/06/2000 03:33 PM
To: Hunter S Shively/HOU/ECT@ECT, Carol Jean Marshall/HOU/ECT@ECT
cc: John J Lavorato/Corp/Enron@Enron
Subject: Resume for Fundamentals Group-Gas Business

Carol, I believe Hunter is leading the charge on building the gas
fundamentals group.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 09/06/2000
03:30 PM ---------------------------

09/05/2000 10:56 AM
Carol Jean Marshall
Carol Jean Marshall
Carol Jean Marshall
09/05/2000 10:56 AM
09/05/2000 10:56 AM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Resume for Fundamentals Group-Gas Business

Dave-

Thank you for taking the time last week to speak at the floor meeting on 29.
I come from an engineering background and work in a financial reporting role
for Andrea Reed.
I have found the transition from engineering to finance at Enron a natural
one with my eye on details and
the analysis process.

I have attached Gwen Weddington's resume which I would like to pass on to the
Fundamentals Group for the Gas Business,
which you mentioned is now being formed.
I think that she could be a valuable addition to Enron.
She is currently an Operations Manager at Air Products and Chemicals'
Industrial Chemicals Group.

Can you tell me to whom I should forward this?

Thanks,

Carol
3-4291

---------------------- Forwarded by Carol Jean Marshall/HOU/ECT on 09/05/2000
10:42 AM ---------------------------

"Gwen Weddington" <gwen_weddington@hotmail.com> on 09/04/2000 09:03:46 AM
To: Carol.Jean.Marshall@enron.com
cc:
Subject: Re: Enron

4 September, 2000

Carol Marshall
Enron
Houston, TX

Dear Carol:

I appreciated the opportunity to speak with you on Friday.  As I mentioned,
I am pursuing other opportunities outside of my current position with Air
Products and Chemicals and have been intrigued with the things I have read
about Enron.  Also, part of my strategy is contacting a few friends who
might be kind enough to "keep their eyes open" and share thoughts and ideas
as to companies I should contact.

I was hoping that you might take a moment to review the enclosed resume.  As
you can see, I would like to find a position which will utilize my strong
operations background.  I would certainly enjoy another position as an
Operations Manager, but would be open to exploring new industries as well.
I am confident my strengths are applicable within a broad range of
industries.  Your suggestions and ideas as to companies to contact would be
very encouraging.  I am open to any avenues you suggest.

Additionally, I am interested in expanding my circle of acquaintances.  It
seems that you may, possibly, be able to provide me with a few select
introductions.  Any names of individuals who might be of help to me, or who
can direct me to others, would be greatly appreciated.  The more contacts I
make, the more opportunities I can uncover.

If you have any thoughts or ideas please jot them down.  I will contact you
again in a few weeks to discuss your ideas.  Thank you in advance for your
help.

Sincerely,

Gwen Weddington
(281) 286-6317 / gwen_weddington@hotmail.com

_________________________________________________________________________
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.

 - weddington-general.doc


Steve/Joe,

There is a question in the TECO SVS book for 10/23/01 as follows:

Bought

HE 7	320
HE 8	320
HE 9	320
HE 10	215
HE 11	150
HE 12	50

Sold for them

HE 10	65 MWs @ $26
HE 11	100MWs@ $25.50
HE12-20 50MWs @ $33

We do not have these deals in the TECO SVS book - Fronterra is showing these deals.  Please contact Laurel Bolt  3-4873 with any information.  Thanks.


---------------------- Forwarded by Mike Riedel/ET&S/Enron on 02/13/2001
07:44 PM ---------------------------

	From:  William Kendrick                           02/13/2001 09:37 AM

To: Leo Nichols/ET&S/Enron, Mike Riedel/ET&S/Enron, Kyle Purvis/GCO/Enron
cc:

Subject: EH&S - Goals & Objectives 2001

These are the objectives that John submitted to Phil.  I'll let you know if
there are changes.

Thanks, Bill
---------------------- Forwarded by William Kendrick/OTS/Enron on 02/13/2001
09:36 AM ---------------------------

	From:  John Shafer                           02/12/2001 04:12 PM

To: Phil Lowry/OTS/Enron@ENRON
cc: Michel Nelson/ET&S/Enron@ENRON, Dan Pribble/OTS/Enron@ENRON, Randy
Rice/OTS/Enron@ENRON, Rick Craig/OTS/Enron@ENRON, Don
Hawkins/OTS/Enron@Enron, Nick Rahn/GCO/Enron, Wilson
Barbee/HR/Corp/Enron@ENRON, Morris Brassfield/OTS/Enron@ENRON, Amelia
Alder/OTS/Enron@ENRON, Jerry D Martin/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
John R Keller/OTS/Enron@Enron, Louis Soldano/ET&S/Enron@ENRON (bcc: William
Kendrick/OTS/Enron)

Subject: EH&S - Goals & Objectives 2001

Phil,
Attached are the summarized Goals & Objectives for Environmental, Health &
Safety for Year 2001.  If you have any questions, please advise.  John


so you are going to just stay in and tame the shrue all night


That is not the issue.  By putting us in the middle between GTB and Solar we
would be the ones that would have to resolve any differances between the wo
if the unit does not function properly.  The whole deal gets complicated
since there is a design engineer. oerator and equipment manufacturer and we
get in the middle between the equipment manufacturer and owner.  If the unit
does operate properly, everyone will point fingers at everyone else,  I have
seen this happen coutless times on EE&CC projects.  Why do I want to take
this risk on an international project that according to Jerry's own numbers
gets me about $800,ooo in current perios earnings and another $400'ooo
deferred over many years.  It just is not worth the time and risk for that
kind of money.  I think Phil Lowry agrees with this assessment also.


I don't suspose you are working on the beautiful holiday monday but I just
thought I would say hi. I am so bored! As soon as the Nymex settles I am
getting out of here.

Chris


Gary,

Have you negotiated a price on this?

D
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 01/09/2001
02:25 PM ---------------------------
Aimee Lannou   01/02/2001 02:14 PM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Meter 1517

Daren - meter 1517 has a nom of 0/day for Jan.  It flowed about 5.400 on day
1. This is a valid flow.  Could you please extend the deal from Dec. (deal #
506192) or create a new one?  Thanks.

AL


For your information.
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/15/2000 12:37
PM ---------------------------

Reagan Rorschach
09/14/2000 06:09 PM
To: Heather Kroll/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, Ben
Jacoby/HOU/ECT@ECT, Jeffrey Keenan/HOU/ECT@ECT, John Moore/Corp/Enron@Enron,
Kay Mann/Corp/Enron@Enron, Karen E Carter/NA/Enron@Enron, Rebecca
Walker/NA/Enron@Enron, Tom Chapman/HOU/ECT@ECT, Dave Kellermeyer/HOU/ECT@ECT,
Regan Rorschach/NA/Enron
cc:

Subject: Notes from Wednesday (9/13/00) Development Meeting

CPCN
Allyson filed the ammended application 9/13/00.
Intervener and staff testimony is due 9/15/00.  This changed to 9/22 based on
Allyson's email.
Enron rebuttal testimony is due 9/22/00.  This will be moved back as well.
Commission hearing is on 10/2/00.  This should stay firm based on Allyson's
email.

Note:  If the AG's office and NCNG, the intervenersm, elect not to file
testimony on 9/15/00, they can still come to the hearing and cross-examine.

Commission may issue CPCN conditional upon execution of the PPA; however,
this is not certain.
Staff is worried about Merchant Plants--the VEPCO PPA has the shortest time
period they have seen.
Allyson will call the AG's office 9/14/00 to discuss the AG's intervention.
The Commission's hearing will be October 2, 2000.
We will ask for an expedited briefing schedule (i.e. 2 weeks)
Optimistically, CPCN may be issued by the end of October.
We can only do site preparation work without the CPCN.  NO CONSTRUCTION.

Action Items:
Get a copy of the AG's intervention papers.
What is the status of NCNG's intervention?
Get Allyson to define the schedule going forward including potential hurdles.

Electrical Interconnect

Reagan and Terri spoke with Tim Talmadge (VEPCO) 9/13/00.  It appears that
VEPCO is not far along in the study process.  We will follow-up with Wayne
Duman of VEPCO and set a meeting as necessary.  Before we talk with VEPCO
again, however, we need to understand the interconnect process with respect
to the Edgecombe project.  Are we subject to the VEPCO tariff interconnect
procedures, does PPA specify, or is this VEPCO's problem not ours?

Action items:
Meet with Heather to discuss interconnect as it stands to date (i.e. with
respect to VEPCO RFP and PPA negotiations).
Review VEPCO tariff.
Review PPA for reference.
Review draft interconnect agreement and submit/negotiate with VEPCO.
Followup with Wayne Duman to further discuss VEPCO interconnect issues and
set meeting, as necessary.
We need to find out who VEPCO's attorney is who is working on the
Interconnect and Operating Agreement.

Gas

The gas deal is a function of annexation of the property by Rocky Mount
insofar as Rocky Mount will be the gas supplier.

Action Items:
Where does Rocky Mount (LDC) stand with repsect to getting their allocations
from NCNG increased?
Is our site behind the Rocky Mount gate?
Do we need to work on an interconnect agreement with NCNG concurrently (as an
insurance policy)?
Develop a construction schedule.
Check with Bill Sherk to see what his progress has been regarding NCNG
negotiations.
Meet with Heathe and Ozzie to discuss/strategize.

Annexation/Zoning/Conditional Use Permit

Bill Sherk referred us to Bill Hoyle, attorney for the city's planning
commission.  Hoyle referred us to Deck McCain, senior planner for the city.
Discussions with McCain (9/13/00) reveal some timing issues with respect to
annexation.  If we begin construction prior to annexation, we must go through
the county's process--Stuart Bass is the county planning director.  Once
annexation happens, we go through the city's process.

The city process would include re-zoning as I2CU (CU = conditional use).
This would take care of zoning and the conditional use permit at the same
time.  This does involve filing notice AND holding a public meeting AND is
expected to take approximately 60 days.  McCain was to prepare a package of
information including the annexation petition, general statutes, and a letter
describing the city's process and Enron deliverables.

In a follow-up conversation with McCain (9/14/00), he indicated that the
city's expectation is that Enron would begin construction before annexation.
We would, therefore, be subject to the county's zoning and conditional use
permit processes.  He put his submittal preparation on hold as a result.

Action Items:
Talk with Kay Mann regarding expansion of Kilpatrick's scope to define these
processes (zoning, annexation, and conditional use permitting) for us.
We need to build the "road maps" for annexation, zoning, and conditional use
permitting processes.
Understand how zoning and conditional use permitting-- at the city and county
levels--effect construction.
Begin Conditional Use Permitting process with county and city, concurrently.
Discuss our timing for option transfer.

Taxation

Rocky Mount made a verbal tax proposal totaling approximately $750,000 over 4
years.  We have not evaluated or discussed with them further.  Financial
model uses Enron tax assumptions.

Action Items:
Calculate present value of the Rocky Mount proposal.
Get with Kay Mann to see if Kilpatrick can get a copy of the deal Dynegy
negotiated for their project.
What is the legal framework through which Rocky Mount has to offer such a tax
deal?
What else does the legal framework offer, and can we negotiate a position we
like?
Determine what depreciation schedule the city will use.
Determine what we think the taxes ought to be and PV it as a point of
comparison.

Land

Mayor of Rocky Mount was contacted by Bill Sherk last week about getting the
ball rolling on acquiring more land.  Bill Sherk is going to begin the
discussions with Ms. Ryerson and wants to make sure how much additional land
we are asking for.

Action Items:
Review site map with respect to additional land desires.
Followup with Bill Sherk.
Talk with Kay regarding option conveyance document and lease agreement.

Air

Air permit is in-house.  To finalize the permit, we need to get a letter from
the city, the county or both.

Action Items:
Get Janet's signature on the permit application.
Get check cut for application fee.
Get necessary letter from City of Rocky Mount and/or Edgecombe County (ENSR
is engaged on this).
Send it all in.

Regulatory

During thsi politically driven CPCN process and considering the critical
juncture, we should enlist external support, as we can.

Action Items:
Get with Tom Chapman to find out the "do's and don'ts" with regard to
mustering political support.
Senator support letter, as appropriate.
Supportive inquiry phone calls, etc.


The enclosed research report is being sent to you from PaineWebber by:

 Emery Financial Group

 713-957-7020

 rocky.emery@PaineWebber.COM

Please contact them if you have any questions or would like to discuss this
material.

The information contained in the attached research report is believed to be
reliable, but its accuracy is not guaranteed.  PaineWebber Incorporated
and/or Mitchell Hutchins Asset Management Inc., affiliated companies and/or
their officers, directors, employees or stockholders may at times have a
position, including an arbitrage position, in the securities described herein
and may sell or buy them to or from customers.  These companies may from time
to time act as a consultant to a company being reported upon.

You will need the Adobe Acrobat Reader to view this document.  If you don't
already have it just click on this link,
http://www.adobe.com/prodindex/acrobat/readstep.html, and follow the
on-screen instructions.  The Acrobat Reader is free of charge.

 - P011928720001124D01.pdf


Did I loan or did anyone borrow my Euromoney "Green" Book on the 1992 ISDA by
Gooch and Klein?

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com


i think we would rally if march were the only thing traded.  Problem is
summer and on out so weak.  trade scale up seller of jv as it gets close to
600.  some customer selling in cal 2.  so h/j and j/k need to blow out
because no other spread is moving.  i'm a seller of j/k so h/j needs to
blow.  all other trade is scale up seller of that so it can move but slowly.
it's a struggle each penny at this point.  at least one spread needs to break
if we're going to run and i don't see that happening.

slafontaine@globalp.com on 02/08/2001 11:20:40 AM
To: John.Arnold@enron.com
cc:
Subject: Re: spreads

i think we rally a little from here this pm-that said i dont think mar/may
gonna
movre up much unless we see cash start to improve.. any thots on east cash?
its
a pig-of course no loads. whats gonna be the driver for march/apr from here
you
think?


Did you pay for your little crystal thing?  I think you did, but I didn't
have the form with me when you gave me the money.  Just wanted to be sure.  I
will hold onto that stuff b'cuz I don't want any of us having anything
outstanding.

BA


Further to discussions with Tana today:

I understand there are some concerns with regard to the amount of time
necessary to complete the due diligence process on each new company added to
the EnronOnline customer list.

Tana has requested that we adopt some rules which would reduce the amount of
time spent on this activity.

I am much in favour of this, but we need to ensure that the rules do not work
such that many customers are prevented from transacting on products which
they would otherwise be able to.

e.g. Tana has suggested that companies who are not registered in the U.S.
should automatically receive a profile which disallows them from trading in
U.S. physical power, as they are unlikely to hold the required FERC license
(subject of course to review of individual requests from the companies
themselves). I am happy with this rule, as it seems highly unlikely that
non-U.S. companies would hold a U.S. electricity license.

If anyone would like to adopt similar rules for other products, please run
them past me before implementation - assuming Mark and Justin are OK with the
concept.

Thanks,

Dave


They are all in really bad shape.  May is looking pretty good though.

Brenda H Fletcher
04/24/2000 11:58 AM
To: Dan Junek/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON, Steve Gillespie/Corp/Enron@ENRON
cc: Jeanne Wukasch/Corp/Enron@ENRON, Mary Theresa Franklin/HOU/ECT@ECT
Subject: NE, SE and CES April Spreadsheets

Jeanne, Terri and I need to begin comparing  the April Spreadsheets to the
Demand Service P/L Report for flash purposes.  Please provide feed back as to
current status of accuracy of spreadsheets.

Thanks,
Brenda


Marcelo,

Thanks for the update.  I have been given a green light as well to go ahead
and start testing my traders deals.  Let me know if you just need TAGG deal
numbers for testing purposes, or if I need to rebook deals myself in your
test version in order to compare it valuation with the valuation in my excel
models.

Thanks,
Susan

x31455

	Enron Capital & Trade Resources Corp.

	From:  Marcelo Meira @ ENRON                           11/06/2000 11:25 AM

To: Matt A Brown/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT
cc:
Subject: Gas Spread Options

Susan, Matt,

I was told by Zhiyong last week that he had a green light for the Gas X Gas
spreads in Enpower. Have any of you hear anything about it? At this point I
have sent some needed changes in the "front end" to Duong Luu, and I'll be
ready to test when these changes are done. If any of you still have a "hold"
on this project please let me know so we can get all cleared up.

BTW, I've been moved to the 25th floor, desk EB2519a.

Regards, Marcelo


Hi Mark

We've been in lengthy negotiation with Shell to get them on-line, and we're
very close!

Shell are insisting on the change to clause 4(b) of the ETA as shown in red
below - Amita and I are happy with this, but I'd be grateful for your
approval.

Many thanks...and very good to see you fleetingly last week!

Thanks

Justin

(b) Counterparty shall indemnify, protect, and hold harmless Enron and its
directors, officers, employees and agents from and against any and all of
Counterparty's losses, liabilities, judgments, suits, actions, proceedings,
claims, damages, and costs (including attorneys, fees) resulting from or
arising out of Counterparty,s access to and utilization of the Website,
including, without limitation (i) any access or entry into by Counterparty
any other Enron system other than the Website, (ii) any act or omission by
any person obtaining access to the Website through the Passwords (as defined
in the Password Application), whether or not Counterparty has authorized such
access, and/or (iii) any actions taken or not taken by Counterparty as a
result of or based on its access to or utilization of the Website.


Attached is the final peaker run data through August, 2000.  New Albany has
been updated to actuals.

Rick


Not good really for me as I was finally hoping to get paid this year
--------------------------
Sent from my BlackBerry Wireless Handheld


On Wednesday night May 23, 2001 you will be converted to Outlook.  Please
watch you email for three (3) memos you
will receive prior to the conversion date.  You will need to follow the
directions to make sure all mail in notes is
moved over to Outlook.

Thank You


Do you know what this is?   ISO makes me think power.  Any clues?  --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 03/31/2000 11:12 AM
---------------------------

Terrie Wheeler@ENRON
03/30/2000 12:00 PM
To: Ted Murphy/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT
cc: Andrew Cornfield/LON/ECT@ECT, Donna Lowry/HOU/ECT@ECT
Subject: ISO 9000

Ted or Sally -

Is this something you can answer for Andrew?  Donna I've cc you on this
message since this might be compliance related too.

Terrie

---------------------- Forwarded by Terrie Wheeler/GPGFIN/Enron on 03/30/2000
11:55 AM ---------------------------
From: Andrew Cornfield@ECT on 03/29/2000 11:12 AM
To: Terrie Wheeler/GPGFIN/Enron@ENRON
cc:

Subject: ISO 9000

Terrie

I've been asked by one of traders whether we are ISO 9000 certified.

From what I can ascertain we have not been certified in Europe. Are you able
you provide any further on this for Europe and Enron Corp?

Thanks
Andy
Ext 37272

I'm in Helsinki  this week so time difference is 9 hours.


Critical Migration Information:

1. Your scheduled Outlook Migration Date is THE EVENING OF : May 24th
2. You need to press the "Save My Data" button (only once) to send us your
pre-migration information.
3. You must be connected to the network before you press the button.
4. If a POP-UP BOX appears, prompting you to "ABORT, CANCEL OR TRUST SIGNER"
please  select TRUST SIGNER.
5. Any information you Add to your Personal Address Book, Journal or calendar
after you click on the button will need to be manually re-added into Outlook
after you have been migrated.
6. Clicking this button does not complete your migration to Outlook. Your
migration will be completed  the evening of your migration date.

    Failure to click on the button means you WILL NOT get your Calendar,
Contacts, Journal and ToDo information imported into Outlook the day of your
migration and could result in up to a 2 week delay to restore this
information.

If you encounter any errors please contact the resolution center @
713-853-1411


We'll see you there.

DG    3-9573

Dawn C Kenne
11/28/2000 09:16 AM
To: Darron C Giron/HOU/ECT@ECT, kristi.giron@cfisd.net, Jason
Wolfe/NA/Enron@ENRON, Chris Walker/HOU/ECT@ECT, Jennifer
Bagwell/NA/Enron@ENRON, Monique Sanchez/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, Jennifer deBoisblanc
Denny/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT,
Stephanie Sever/HOU/ECT@ECT, Kori Loibl/HOU/ECT@ECT, B Scott
Palmer/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Victor
Guggenheim/HOU/ECT@ECT, Anne Bike/Corp/Enron@Enron, Richard
Lauer/HOU/ECT@ECT, Eric Wardle/HOU/ECT@ECT, Pam B Boxx/HOU/ECT@ECT,
r.wilson@oracle.com
cc:
Subject: Pre-Party??

Gary and I are going to have a "get together" before the Holiday Party on
Saturday, December 9th.  Please let me know if you want to stop by our place
before we head out to Enron Field.  We live really only a few miles away from
downtown, so this could be a good pit stop for all of you that live out in
the "burbs"!   (No names mentioned).

Anyway, let me know if you are able to come by and I will give you directions
to our place.  Hope all of you can make it!

Thanks,
Dawn
3-9353


Welcome back to the Body Shop!
January 22, 2001 is re-opening day, and we look forward to seeing you again
on a regular basis!  Please find your assigned locker and combination below.
If you have any problems using your new locker, please ask one of the Body
Shop staff for assistance.

Locker# - 794
Combination - 17-43-39


Sally,

Looks like James will be here from June 10 thru June 22nd.  I will get his exact travel dates.

PT

 -----Original Message-----
From: 	New, James
Sent:	Monday, June  4, 2001 12:09 PM
To:	Thompson, Patti
Subject:	Houston visit

Patti,

I don't know if you can remember back a few months from when I was last over in Houston but you mentioned the possibility of being able to see a baseball game when I was over in June.

Well I will be over in Houston from 10th of June for 2 weeks and was wondering if the tickets were available. I will be coming over with 2 other risk managers for those 2 weeks so 3 tickets would be perfect.

Thanks James


Li,

I shall take care of it Thursday.

Please, call me at the end of the day.

Vince

Li Xiao@ENRON
06/27/2000 11:31 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: loan recommendation form

Hi, Vince,

I was told by Molly that she hasn't received the recommendation form from you
yet.

Since I got admission late from the school, now I am short of time of getting
I-20 which needs loan approval,
and getting visa status transferred (from H-1 to F-1) which requires I-20 and
loan approval
and normally takes around 45 days through INS (Immigration Naturalization
Service).

Now, I am trying to push every step to speed up the process in order to
catch up the school opening at beginning of Sept.

I know I just told you this late last week. Nevertheless, I am writing to see
if you can squeeze some time to finish the recommendation form anytime soon.
It will be a big help.

Thank you very much, Vince.
Have a good day.

Sincerely,

Li x39635


Attached is a credit worksheet for Cartonajes Estrella.  Jaime would like to send out an ISDA draft to this prospect.  Antonio Vergara is in the process of sending over to you the contact information.

Thanks,

Veronica


Dave may have misspoke at the meeting or I misheard. Anyhow, my research
suggests there is no overriding support for change, a few yes a few no, but
mostly apathy. I will probably sum up for group tomorrow based on all
responses I received and recommend we leave as is.

David

 -----Original Message-----
From:  Kean, Steven
Sent: Thursday, June 07, 2001 5:54 PM
To: Oxley, David
Subject: Re: Proposal to Change "Commercial Support" peer group label to
"Professional Services"

I don't think "services" was discussed.  The agreement was to call the group
"professional".

From: David Oxley/ENRON@enronXgate on 06/01/2001 12:41 PM
To: Sally Beck/ENRON@enronXgate, Wes Colwell/ENRON@enronXgate
cc: Steven J Kean/NA/Enron@Enron, Cindy Olson/ENRON@enronXgate, Drew
Lynch/Enron@EUEnronXGate, Kalen Pieper/HOU/EES@EES, Robert W
Jones/ENRON@enronXgate, Marla Barnard/Enron Communications@Enron
Communications, Mary Joyce/ENRON@enronXgate, Gary P Smith/ENRON@enronXgate,
Gina Corteselli/ENRON@enronXgate

Subject: Proposal to Change "Commercial Support" peer group label to
"Professional Services"

At the VP PRC meeting last Wednesday, Dave Delainey proposed we consider
retitling the Commercial Support peer group as above. Apparently this
suggestion was made and broadly supported at a policy committee meeting a few
weeks ago. The suggestion is that the Support label is seen rather negatively
across the organisation and the new label may be an improvement.

The VP PRC Committee resolved that they would be open to supporting a change,
subject to the senior leads from across CS providing their views/support.

I volunteered to circulate this note to the 2 of you in EWS and ask my
colleagues from HR to share with their CS leads to solicit their views before
returning to the committee late next week with summarised reaction. Perhaps
you would provide me with your views and a vote for or against?

I would strongly recommend that we do broadly discuss this outside a small
circle of people.

David


Sarah

Well written. I enjoyed reading the document.

A few comments:

1) I would stress the importance of demand response as a key success factor for the implementaion of wholesale markets. RTO participants discussed this topic and shared this view as well. You included some elements of this topic under the title "An Installed capacity requirement is not necessary" . It does  fit under this title, but I think it is more than that. Perhaps a separate item.  A few possible additional points:
	a) Demand response has been very limited so far, because customers have been under a regulatory shield:
	b) A few attempts to make load "see" correct prices have been very encouraging. There is still a long way to go, though.
	c) There has to be serious regulatory efforts and flexible market rules to expose demand to wholesale prices (e.g. DSB)
	d) Wholesale market will benefit in multiple ways, such as: (i) increased chances for the market to clear at all times (ii) mitigate price spikes - and as a consequence the need for caps; (iii) proxy for reserves
	e) It will take some time to get demand response. In the meantime, some interim measures may be necessary, such as the one we proposed in lieu of capacity payments (your footnote 11 to achieve a certain reserve adequacy level).
	f) Even for this interim period, we do not support  caps. By not having caps, the rationale for capacity payment disappears. FERC will deal with market power, if any, on an ad-hoc basism, by not allowing market based rates, instead of caps. This is the approach MISO has been taking and we agreed with it.

2) What about including the text "A well designed RTO" as an attachment?  - the one recently prepared by Janel.

3) Hydro - I agree with your point that LMP may work in a  hydro based system.  The only difficulty is when you have multiple ownership in the same cascade. In that case, plants are not free to bid - there has to be a central coordination function on the river flow and reservoir management.  The "marginal"  price for the hydro does not come from a bidding process, but it is the shadow price of an optimization program. This very same price could be the basis for the LMP. Not a big deal. Hydro plants do not like LMP because, in general, they are far away from consumer centers and LMP with technical losses penalizes them a lot. We should stick to our point that LMP should be used across all RTOs.

4) Still on LMP on the northwest - (page 10, second paragraph). I agree that some idiosyncrasies of the hydro system have to be worked out. For example,  generation to accomodate the flow of the river minimum (or maximum) requirements. However, I would not call this "allowing bilateral contracts". I would call it accomodate "must run"  requirements caused by operational inflexibilities. (for example, if a run of river plant  decides to be merchant, it still should have  the right to declare itself inflexible and therefore run)

5) Still on LMP for hydro. I am assuming that the problem of multiple ownership in the cascade does not exist in the Northwest RTO. Steve Walton to confirm. Otherwise the solution is not so simple as the one described in the second paragraph on page 10. I think David suggested to use the NY example (I am not familiar with)

6) Capacity Payment - Page 12 - last paragraph. "Finally, any such program should not tie a capacity payment to a specitc generator (as a physical product)". I know what you meant, but it may lead to dubious  interpretations. It may convey the idea that players are not allowed to contract to avoid spike price exposures. If we were able to get property rights on reliability issues, the capacity fee discussion wouuld be a no-brainer.  I would eliminate the sentence.

7) Capacity Payment - Page 12 - last paragraph - our white paper on capacity (footnote 11) does not clearly say that the RTO should the purchasing agent during the interim period. It may be the case (provider of last resource), but we did not go that far in detailing the interim solution. What we can certainly say is that in the interim period the RTO should be responsible for system adequacy - plan reserves and make sure they are implemented across all Control Areas (as opposed to having each one of them working independently)

Sorry for the long e-mail. I hope it helps.

LM

 -----Original Message-----
From: 	Novosel, Sarah
Sent:	Tuesday, November 20, 2001 12:50 PM
To:	Shapiro, Richard; Steffes, James D.; Robertson, Linda; Nord, Sue; Landwehr, Susan M.; Walton, Steve; Perrino, Dave; Comnes, Alan; Lindberg, Susan; Maurer, Luiz; Fromer, Howard; Hoatson, Tom; Allegretti, Daniel; Staines, Dan; Yeung, Charles; Shelk, John; Rodriquez, Andy
Cc:	Nicolay, Christi L.
Subject:	RTO Comments

Attached are draft RTO comments.  The comments reflect EPMI's views on RTO development, given the Commission's apparent recent changes in position on the number of RTOs to be created.  We urge Right Sized RTOs without choosing a number.

The comments reflect input from Christi, Dave Perrino, Steve Walton, Mike Roan, Andy and Charles.  Please review the sections where you have had input to make sure we adequately reflected your points, but please also review the entire document and let us know your thoughts.

I'm still filling in cites and Bernadette will be working on the formatting, but the document is hopefully in pretty good shape.  There is no filing deadline for these comments, but we would like to submit them on Monday if possible.  It shouldn't take more than an hour to review.  In sending your comments, please "Reply to All" so everyone receives your comments.

Thanks for everyone's help.

Susan:  we should also have Kevin review the comments

Alan:  Tim should probably review the comments as well, but check with Dave and Steve to see if the "LMP in the West" argument is correct before you show him the comments.

Sarah

 << File: Comments on RTO Week -- Revised.doc >>


----- Forwarded by Steven J Kean/NA/Enron on 02/28/2001 02:09 PM -----

	James D Steffes
	02/27/2001 08:30 AM

		 To: Alan Comnes/PDX/ECT@ECT, bhansen@lhom.com, Harry
Kingerski/NA/Enron@Enron, hgovenar@govadv.com, Janel
Guerrero/Corp/Enron@Enron, JBennett@GMSSR.com, Jeff Dasovich/NA/Enron@Enron,
jkradin@marathon-com.com, Joe Hartsoe/Corp/Enron@ENRON, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen Denne/Corp/Enron@ENRON,
Linda Robertson/NA/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, mday@gmssr.com, Paul Kaufman/PDX/ECT@ECT,
rcarroll@bracepatt.com, rlichtenstein@marathon-com.com, Richard
Shapiro/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron,
syamane@marathon-com.com, SGovenar@govadv.com, Steven J Kean/NA/Enron@Enron,
Susan J Mara/NA/Enron
		 cc:
		 Subject: Letters to Senators

FYI.  Here are letters Enron (Steve Kean) sent to US Senators about real
solutions for California.  The Feinstein / Murkowski letters are very good
overviews of our recommendations on what to do and what not to do.

Jim

----- Forwarded by James D Steffes/NA/Enron on 02/27/2001 07:57 AM -----

	Maureen McVicker
	02/26/2001 05:27 PM

		 To: Linda Robertson/NA/Enron@ENRON, Tom Briggs/NA/Enron@Enron, Scott
Bolton/Enron Communications@Enron Communications, Paul Kaufman/PDX/ECT@ECT,
Susan J Mara/NA/Enron@ENRON, Joe Hartsoe/Corp/Enron@ENRON, Sandra
McCubbin/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT, Vance Meyer/NA/Enron@ENRON,
Karen Denne/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON
		 cc: Lora Sullivan/Corp/Enron@ENRON
		 Subject: Letters to Senators

Attached are the letters sent to Senators Wyden, Feinstein & Murkowski.


Mike,
Thanks for your help just now. I'm unable to reach John Suarez or Paul
Broderick through the main switchboard as of now.  Do you mind passing my
information along to them for the search we spoke about?
Thanks so much,
Rosanna

Rosanna Migliaccio
Vice President
Robert Walters Associates
(212) 704-9900
Fax: (212) 704-4312
mailto:rosanna@robertwalters.com
http://www.robertwalters.com

**********************************************************************
CAUTION: Electronic mail sent through the Internet is not secure and could
be intercepted by a third party.

This email and any files transmitted with it are confidential and
intended solely for the use of the individual or entity to whom they
are addressed. If you have received this email in error please notify
the system manager.

This footnote also confirms that this email message has been swept by
MIMEsweeper for the presence of computer viruses.

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


Hi Ben,

Has anyone asked you to take a look at this?  If not, I would be interested
in your comments.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/23/2001 11:42
AM ---------------------------
From: Catherine Clark/ENRON@enronXgate on 01/23/2001 11:24 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: FW: Meeting between EE&CC and ENA

Sorry about that.

 -----Original Message-----
From:  Clark, Catherine
Sent: Tuesday, January 23, 2001 11:15 AM
To: Mann, Kay
Cc: Bills, Lisa
Subject: Meeting between EE&CC and ENA

Kay,
Lisa asked me to see if you would represent ENA Legal at the meeting between
EE&CC and ENA on Monday, Jan 29th.  Having worked at both companies, you
would add a lot of insight to the crafting of a "new project development
process".  The agenda is for Ozzie, Mike Coleman, Lisa and you to give brief
presentations (5-10 minutes each) on the project development process, with
recommendations on changes to be made.  You've already seen the notes, but
I'm attaching an updated version.

Please let me know if you will be available and if you want to change any
discussion bullets and/or recommendations.  The most recent message had the
meeting taking place on Monday, January 29th from 11:30 am to 1:30 pm (with
lunch provided).  Megan will let everyone know which room will be reserved.
There is also a pre-meeting tomorrow (Wed) at 10:30 am in EB 2868 (it should
only last 30 minutes).  Thank you in advance for your help.
-Catherine
x3-9943


i think that i am funny and you know what i'm talking about.  that's why you asked if kori was here.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Monday, November 19, 2001 9:07 AM
To:	Nelson, Michelle
Subject:	RE:

i dont know what the heck you are talking about, and thank you for calling it babbling

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Monday, November 19, 2001 9:03 AM
To:	Maggi, Mike
Subject:

i was just playing.  so do you remember what you babbled to me on friday?


1-888-385-5669; host #7688234

Rebecca C. Medley
(954) 768-8230
Assistant to Debbie M. Orshefsky
and Frank Schnidman

_______________________________________________________________
The information contained in this transmission may contain
privileged and confidential information.  It is intended only
for the use of the person(s) named above. If you are not the
intended recipient,  you are hereby notified that any review,
dissemination, distribution or duplication of this
communication is strictly prohibited. If you are not the
intended recipient, please contact the sender by reply email
and destroy all copies of the original message.

To reply to our email administrator directly, please send an
email to postmaster@gtlaw.com.


Attached is the final draft (approved by Jim Fallon and Lynda Clemmons) of a
follow-up letter to Commerce Secretary Daley from Ken Lay discussing Enron's
concerns about weather data services provided by NOAA.

Since Ken Lay will be in the office tomorrow, should we have him sign it
while he's here for delivery to Secretary Daley and cc's tomorrow?

Jeff


Let me think about a similar publication. Zimin, any ideas?

Vince

Gopalakrishnan Subramaniam@ENRON_DEVELOPMENT
03/06/2000 04:34 AM
Sent by: Subramaniam Gopalakrishnan@ENRON_DEVELOPMENT
To: Vince J Kaminski@ECT
cc:
Subject: Managing Energy Price Risk

Thanx  a  million . The book is just  superb . Would there be any similar
literature on the Interest Rate front  ??
 Regards
G.Subbu


Please check on the actual storage capacity volume on FSS contract 63304.
I'm showing 7,503,838 dth and I'm thinking it might be closer to 7,000,000.

Thanks


----- Forwarded by Jeff Dasovich/NA/Enron on 10/25/2000 12:22 PM -----

	Mary Hain@ECT
	10/25/2000 11:01 AM

		 To: James D Steffes/NA/Enron@Enron, jdasovic@ees.enron.com, Mona Petrochko,
Susan J Mara/SFO/EES@EES, Sarah Novosel/Corp/Enron@ENRON, Joe Hartsoe@Enron,
Dennis Benevides, Tim Belden/HOU/ECT@ECT, Cooper Richey/PDX/ECT@ECT, Robert
Badeer/HOU/ECT@ECT, Jeff Richter/HOU/ECT@ECT
		 cc:
		 Subject: Draft response to CMUA paper

The attached draft answers the California Municipal Utilities Association
complaint that California markets are not workably competitive and therefore
FERC should establish cost-based rates.  In its complaint, CMUA argued that
the market isn't workably competitive because the prices were higher this
summer than in previous years even in hours where demand was no higher.
Seabron's paper shows that high prices have resulted from a number of
unrelated structural and market design factors and increasing attempts at
regulatory intervention.  Our answer is due at FERC tomorrow so please get me
your comments ASAP.
---------------------- Forwarded by Mary Hain/HOU/ECT on 10/25/2000 08:48 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Sabine Schnittger" <Sabine.Schnittger@frontier-economics.com>
                  10/25/2000 08:23 AM

To: "Mary C Hain" <mary.hain@enron.com>
cc:
Subject: Draft response to CMUA paper

Mary:

Please find attached a first draft of Enron's response to the CMUA, please
let us know your comments.

Seabron can be contacted on his cell-phone (617 513 5904) this morning, but
will be in the office at noon. Alternatively, you could pass on comments to
me.

Are you or is one of our staff able to assist us with a reference to the
claim that hydro water levels were low in California this year?

Best wishes,

Sabine.

------------------------------------------------------
This e-mail, and any attachments thereto, is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
copying of this e-mail, and any attachments thereto, is strictly prohibited.
If you have received this e-mail in error, please immediately notify me at
(617) 354-0060 and permanently delete the original and any copy of any
e-mail and any printout thereof.

Sabine Schnittger
Managing Consultant
Frontier Economics
Two Brattle Square
Cambridge, MA 02138
Office tel:    (617) 354-0060
Office fax:   (617) 354-0640
Mobile:        (617) 480-5992
Email:   sabine.schnittger@frontier-economics.com
http://www.frontier-economics.com

 - 00-10-26-SA-SS draft.doc


Team,

For me it%s OK. Let us know the confimed date early, so we can arrange our
classes.
Thanks

Diego

Julian Poole
03/17/2000 10:35 AM
To: Michael Guerriero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Vince J Kaminski@ECT, Grant Masson@ECT, Jeff
Kabel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rodolfo
Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Diego
Hollweck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bernardo
Andrews/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mario Aguilar
Benitez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Santiago
Porta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: Argentina Power & Gas Market Modelling

All,
Let's arrange a conference call next week to discuss the process.
How does Tuesday afternoon fit everyone's schedule?

Julian

	Enron International

	From:  Michael Guerriero                           03/17/2000 03:49 PM

To: Vince J Kaminski@ECT, Grant Masson@ECT, Jeff
Kabel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Julian
Poole/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rodolfo
Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Diego
Hollweck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bernardo
Andrews/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mario Aguilar
Benitez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Santiago
Porta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Argentina Power & Gas Market Modelling

I would like to initiate a team to address the continued improvement of the
Argentine Power & Gas Market Models. I spoke with Vince this morning and we
reviewed that history of work to date and what we will need to do from here.
A summary is as follows:

Team:
 BA Members:  Julian Poole Lead
    Mario Benitez Associate

 BA Associates: Diego Hollweck Associate
    Bernardo Andrews Associate
    Santiago Porta Associate

 Houston Members: To be named.

Time Schedule: As soon as possible. Completed before June 1, 2000 winter in
Argentina.

Scope of Work:
Power Model:  Advance the current model from basic load forecasting to
incorporate weather, hydrology, improved short term and long term forecasting.

Natural Gas Model: Build a supply and demand load forecasting model
incorporating weather, thermal demand, pipeline flow rates, well head
supply,     improved short term and long term forecasting.

Phase I-Data Request

 Power
  Historic Weather: Temperature-Daily, Hourly, Min, Max, Average
     Humidity
     Precipitation
     Cloud Cover
     Regionally

  Forward Weather: Temperature-Daily, Hourly, Min, Max, Average
     Humidity
     Precipitation
     Cloud Cover
     Regionally

  Historic Hydrology: Reservoir levels
     Reservoir capacity

  Current Hydrology: Reservoir levels
     Remote monitoring:Aireal, pressure device, laser

  Snow Pack:  Density volume and mass

  Power Supply: Current and future capacity

  Transmission
  Capacity:   Current and future capacity

 Natural Gas   Data list to be developed

Phase II- Power Model Development

Phase III-Natural Gas Model Development

We will take advantage of the fact that the associates are in Houston for the
next two weeks. Vince is out next week but we can start with a process
discussion with Grant Masson next week. Julian please get a meeting scheduled
as soon as possible. We should immediately start collecting data.

Thanks

MFG


The Hotline's World Extra is now available at
http://www.theatlantic.com/

TOP STORY: The Ramadan

Also in the news:
-- Nation Building: Russia vetoes Taliban involvement.
-- Beyond Arafat: Who would replace him?

----------------------------
To stop receiving these E-mail Alerts:

Reply to this message and include the word "unsubscribe" (without quotes) in
the BODY of the message.
----------------------------
The Hotline is published daily by National Journal Group Inc. For more
information about National Journal Group's publications, go to
http://www.nationaljournal.com.


Hey:
Sorry I've taken a few days to respond.  Just the more I think about it, the
worse of an idea it seems for both of us.  There is nothing good that can
come of it either professionally or personally.  I still regard you as a good
friend.  Nothing has changed that nor do I think we need to act weird around
each other going forward.  Something I think we both wanted to try and we
did.  Maybe best left there though.
John


Shirley,

Please mark these dates on my calendar.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 07/12/2000
08:21 AM ---------------------------

	Enron North America Corp.

	From:  Celeste Roberts @ ENRON                           07/11/2000 06:09 PM

Sent by: Enron Announcements@ENRON
To: All Enron Employees North America
cc:
Subject: Associate/Analyst Fall Recruiting

Enron Managers, Directors, Vice Presidents and Managing Directors Who Utilize
the Associate/Analyst Pool

The Associate and Analyst Department has finalized fall recruiting dates.  An
important part of our recruiting effort is the final round of interviews
which are conducted here in the Enron Building on selected weekends during
October, November and December.   These are the famous &Super Saturdays8.

We invite you to attend and participate in this process.  We will need
approximately 50-75  volunteers for each Super Saturday to participate either
in the dinners on Friday night or in the interview process on Saturday.  More
information will be made available as we get closer to these dates.  Please
mark your calendars for the following Super Saturday weekends and(.

SAVE THESE DATES

October 28-29, 2000
November 3-4, 2000
November 10-11, 2000
November 17-18, 2000
December 1-2, 2000
December 9-10, 2000


TOO COOL


alright i would do davis,schroeder, and harris, for faulk and connell

Phillip M Love
08/24/2000 09:42 AM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: faulk

Thanks anyway.
PL


fax is 415.782.7854.


The Resolution Center is taking the next step of ensuring we are providing
the service you, our customer, are looking for.  As of Wednesday September
20th, with each call made to the Resolution Center, an email survey will be
sent out upon closure of the ticket.  Please take the time to fill out the
survey and let us know how we are doing.  We will post these results
quarterly on our web page and show exactly how well we are doing.  We have
attached a copy of the survey for your viewing.

Thank you again for your continued support.

Resolution Center

Region:   Houston

Status:     4

Summary:	This is a test

Your IT support case number HD0000000001606 has now been closed by Demo (Demo
user for startup).

In order to improve the quality of support we provide, we would like to know
if you were satisfied with the service you received on this call.

Please select a grade from the list below which best describes the service
you received:


Mike Triem
NA IPAQ & Displays Business Planning
281.927.8586

-----Original Message-----
From: Stavinoha, Robert
Sent: Tuesday, August 15, 2000 9:31 AM
To: Triem, Mike; Valenzuela, John; Karrenbrock, Douglas; McGowen,
Kimberly; Moore, Leslie
Subject: FW: Aggie/Texas Fishing Contest

This is so lame, only you Aggies could love it

-----Original Message-----
From: Fred Gage [mailto:fgage@na.ko.com]
Sent: Tuesday, August 15, 2000 8:57 AM
To: JBaj@Deepwater.com; Tbruns@wilsononline.com; ggage@usmint.treas.gov;
wgaines@swmail.sw.org; MARK.PEREZ@UDVNA.com; Stavinoha, Robert;
sbdavis@clearsail.net
Subject: Aggie/Texas Fishing Contest

You got to love it!
---------------------- Forwarded by Fred Gage/MM/NA/TCCC on 08/15/2000
09:51 AM ---------------------------

It's that time or year again!!!

Once there was a season when Texas and A & M football teams were not
scheduled to play each other.

It seemed so unusual, that the coaches of both teams got together and
decided that there should be some sort of competition between the 2 teams
because of their great rivalry.

They decided on a week long ice-fishing competition.
The team who caught the most fish at the end of the week would win.

So on a cold northern South Dakota lake (a neutral site so no one would
whine about home field advantage), they began their contest.

The 1st day, after 8 hours of fishing, A&M had caught 100 fish and Texas
had 0.

At the end of the 2nd day, A&M had caught 200 fish and Texas had 0.

That evening the Texas Coach got his team together and said, "I suspect
some kind of cheating is taking place".

The next morning he dressed one of his players in maroon and white and sent
him over to the camp to act as a spy.

At the end of the day, the spy came back to report to the coach.

The coach asked, "Well, how about it, are the Aggies cheating?"

"They sure are", the Texas player reported, "They're cutting holes in the
ice!"


- BROWNE invitation 07-23-01.doc


Hey guys, Kevin Presto would like to add the Legal Plan "Comprehensive" coverage option if its not to late.  His form will be in the stack of information arriving at your office today.

Thanks, Tony

 -----Original Message-----
From: 	Fitzpatrick, Amy
Sent:	Monday, February 04, 2002 10:11 AM
To:	Jarrett,  Anthony
Cc:	Presto, Kevin M.
Subject:	Missing Benefits Information

Tony -

I received a voicemail from Kevin Presto stating that he forgot to elect Legal plan coverage - he would like the comprehensive plan.

Can you please add this?  I understand through Jeanie that the copies were all sent to Stamford on Friday.

Thanks!
Amy


On Saturday 5-05-01, Dean, Dustin & myself were attempting to schedule a 100
mws from NSP to AMRN for HE 16, and we received very little help or courtesy
from the MAPP security center.  This deal cost us $1200 profit (bought $40
from NSP and sold $52 to AMRN). Three MAPP Fs were submitted showing as the
POD:  (NSP.AMRN, ALTW.AMRN, MEC.AMRN).    All the requests were returned as
"refused."  Ample ATCs were showing on the MAPP web page from NSP to AMRN,
ALTW to AMRN, MEC to AMRN.  Pat, the file with these ATC printouts are on
your desk.  No explanation was given as to the reason for the refusal on the
oasis.  Furthermore, no explanation was given upon calling the MAPP Security
Center.  In fact, the gentleman at MAPP hung up on us when we called.

This was not an example of MAPP's finest in customer service.  Dustin
suggested adding this situation to your complaint file.  We wanted to make
you aware of the situation.


CALENDAR ENTRY:	APPOINTMENT

Description:
	Saly Beck in her office

Date:		10/25/2000
Time:		2:00 PM - 3:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Here is the Change Order number 4 that I should have sent out earlier.  Lee,
stated on the phone call today that there may be additional comments, so
please reply to all if there are so we can revise the Facility Agreements
accordingly.

Kent

-----Original Message-----
From: Shoemaker, Kent (GEAE)
Sent: Wednesday, November 01, 2000 4:21 PM
To: 'Kay.Mann@enron.com'
Subject: RE: GE Contract

Didn't I tell you - I love outside counsel!!!

See you tomorrow
Kent

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, November 01, 2000 4:20 PM
To: Shoemaker, Kent (GEAE)
Subject: RE: GE Contract

CST.  That was right, right?

I'm going to have the outside lawyer involved for the purpose of turning
the revised draft, so long as you don't have an objection
(objecting=volunteering to turning the next draft!)

Kay

"Shoemaker, Kent (GEAE)" <kent.shoemaker@ae.ge.com> on 11/01/2000 03:11:13
PM

To:   "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject:  RE: GE Contract

Is that 3:30 CST? If so, I'll be ready.

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, November 01, 2000 4:08 PM
To: Stuart.Zisman@enron.com; kent.shoemaker@ae.ge.com;
Ben.Jacoby@enron.com; lee.johnson@ss.ps.ge
Subject: GE Contract

Gentlemen:

Attached is a draft of the facility agreement, without reference to WestLB.
It just came in, so I haven't reviewed it.

It looks like 330 tomorrow will work for this group, unless you tell me
otherwise.  I'll get back to you with the location.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/01/2000 03:04
PM ---------------------------

"Cope, Lori" <loricope@akllp.com> on 11/01/2000 03:00:50 PM

To:   "Kay Mann (E-mail)" <Kay.Mann@Enron.com>
cc:

Subject:  GE Contract

Enclosed please find clean and blacklined versions of the GE Contract.
The blackline of the Agreement identifies the changes from the draft I
sent you. Note that no blackline of the Exhibits was necessary because
it contained no references to WestLB.
Regards,
Paul

<<HOU_554886_3.DOC>>  <<BL554888.DOC>>  <<HOU_554888_4.DOC>>
Paul J. Pipitone
Andrews & Kurth L.L.P.
4200 Chase Tower
600 Travis
Houston, Texas  77002
Phone: 713-220-4101
Fax:  713-238-7176
ppipitone@andrews-kurth.com

The information contained in this e-mail message is legally privileged
and confidential information intended only for the use of the
recipient(s) named above.  If the reader of this e-mail is not an
intended recipient, you have received this e-mail in error and any
review, dissemination, distribution or copying is strictly prohibited.
If you have received this e-mail in error,  please notify the sender
immediately by return e-mail and permanently delete the copy you
received.

Thank you.

(See attached file: HOU_554886_3.DOC)
(See attached file: BL554888.DOC)
(See attached file: HOU_554888_4.DOC)


I understand Sara is running with this one.

Alan

	Sheila Glover
	05/30/2001 10:11 AM

		 To: Sara Shackleton/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT, Robert
Bruce/NA/Enron@Enron
		 cc: John Greene/Enron@EUEnronXGate
		 Subject: Foreign Listed Equity Options - GS update

Sara, Alan and Robert,
Who is the appropriate legal person to review this item?
Thanks. Sheila

---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/30/2001 10:09
AM ---------------------------

	From:  Sheila Glover                           05/24/2001 10:37 AM

To: John Greene/Enron@EUEnronXGate, David J Vitrella/Enron@EnronXGate, Selena
Gonzalez/Enron@EnronXGate, Gary Hickerson/Enron@EnronXGate, John
Weakly/Enron@EnronXGate, Mark Schlueter/Enron@EnronXGate
cc: Aneela Charania/HOU/ECT@ECT, Theresa T Brogan/HOU/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT, Donna Lowry/Enron@EnronXGate, Lance
Schuler-Legal/Enron@EnronXGate
Subject: Foreign Listed Equity Options - GS update

I spoke with Kara Saxon and Margo Topman, Goldman Sachs Legal, 212-902-9982.
Per our conversation ....

Foreign Listed Equity Options are considered Unseasoned securities because
they are issued on the date purchased and not widely held (from U.S. point of
view).    GS has reviewed our ability to trade Foreign Listed Equity Options
vis-a-vis REG S.  Goldman says that we can execute from our London Office
(not from States) Foreign Listed Equity Options.  We can settle and hold with
our current account, documentation  and legal structure with Goldman Sachs.

Margo said that there is some risk but they do not think it is large.  She
suggested we do a follow-up with our Securities counsel.
Sheila

Sara,
Can we run this by someone?  Margo offered herself as a contact if we need
more infomation.
Thanks. Sheila

---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/24/2001 09:25
AM ---------------------------

	From:  Sheila Glover                           05/23/2001 02:00 PM

To: John Greene/Enron@EUEnronXGate, David J Vitrella/Enron@EnronXGate, Selena
Gonzalez/Enron@EnronXGate, Gary Hickerson/Enron@EnronXGate
cc: Aneela Charania/HOU/ECT@ECT, Theresa T Brogan/HOU/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT, Donna Lowry/Enron@EnronXGate, Lance
Shuler/ENRON@enronxgate
Subject: Foreign Listed Equity Options

Goldman Sachs has given us the go-ahead to do Foreign Listed Equity Options.
Kara Saxon at Goldman called me today and will follow-up with an e-mail.
Goldman Sachs legal has said that we can trade as we currently do as ECT
Investments, Inc.  This includes the whole European market.  I asked her to
check on Canadian and Australian.

I will forward Kara's e-mail tomorrow.
Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 05/23/2001 01:53
PM ---------------------------

"Saxon, Kara" <kara.saxon@gs.com> on 05/23/2001 12:52:28 PM
To: "'Sheila.Glover@enron.com'" <Sheila.Glover@enron.com>
cc:
Subject: RE: FW: Enron North America

Sheila-

I promise I will send you that email tomorrow am.  I got tied up and I have
to get going.

Kara

-----Original Message-----
From: Sheila.Glover@enron.com [mailto:Sheila.Glover@enron.com]
Sent: Tuesday, May 22, 2001 9:47 AM
To: kara.saxon@gs.com
Cc: John.Greene@enron.com
Subject: RE: FW: Enron North America

Kara,
Thanks for following up on this important ability for us..
Sheila

"Saxon, Kara" <kara.saxon@gs.com> on 05/22/2001 08:32:02 AM

To:   "'Sheila.Glover@enron.com'" <Sheila.Glover@enron.com>
cc:
Subject:  RE: FW: Enron North America

Legal and compliance have made progress.  They have promised to get back to
me by Wednesday or Thursday.  I will give you a call as soon as I get the
good word.

Thanks,
Kara

-----Original Message-----
From: Sheila.Glover@enron.com [mailto:Sheila.Glover@enron.com]
Sent: Friday, May 18, 2001 10:00 AM
To: kara.saxon@gs.com
Subject: RE: FW: Enron North America

Kara,
Any progress on the European Listed Options?
Thanks. Sheila

"Saxon, Kara" <kara.saxon@gs.com> on 05/14/2001 11:34:20 AM

To:   "'Sheila.Glover@enron.com'" <Sheila.Glover@enron.com>
cc:   Theresa.T.Brogan@enron.com
Subject:  RE: FW: Enron North America

Sheila-

I just left you a voicemail.  My 2 follow up questions on the European
listed options are:

What is the title of the person in London who would be making the
investment
decisions doe Enron?

Does Enron have any foreign subsidiaries?

Thanks,
Kara

-----Original Message-----
From: Sheila.Glover@enron.com [mailto:Sheila.Glover@enron.com]
Sent: Wednesday, May 02, 2001 2:34 PM
To: kara.saxon@gs.com
Cc: Theresa.T.Brogan@enron.com
Subject: Re: FW: Enron North America

yes, European listed. sg

"Saxon, Kara" <kara.saxon@gs.com> on 05/02/2001 01:27:45 PM

To:   "'Sheila Glover'" <sheila_glover@enron.com>
cc:
Subject:  FW: Enron North America

Sheila-

You are interested in trading European listed options and not OTC Euro
options - correct?

Thanks,
Kara

> -----Original Message-----
> From:   Anthony, John P
> Sent:   Wednesday, May 02, 2001 1:10 PM
> To:     Saxon, Kara; Bradley, Oonagh; Veasey, Andrew T; Morris, Damian;
> Breckenridge, Jonathan E.
> Cc:     Dunn, Jeremy; Threlfall, Tom; Arens, Joseph; Sibeud, Eugenie B;
> Brogard, Yves-Francois; Oreilly, Cathy; Hobson, Carol
> Subject:     RE: Enron North America
>
> not sure i have all the facts straight here but here are my thoughts-
> 1)  US funds with US investment mgr would not be permitted to have a
> direct relationship with GSI for European Listed Options.
> 2)  They may be able to deal with GSI on an agency basis, but i would
> think the product would be an OTC Euro Option.
>
> Is this any help?  i am cc Legal in London and NY in case they have a
> different view.
>


Due to a family emergency, I will not be able to facilitate the Change
Control Conference Call this Friday, 2/8/02.

We have two options:
1. Cancel the call until next week.
2. Someone else facilitate...  if you choose this option, I will rely on
Kyle Patricks excellent notes to get the logs and everything
updated.

The log will be a week delayed in getting updated, however, I will make
this a priority when I return next week.
I will be available by Cell Phone.

Thank You,
Dave Odle

Dave Odle
Retail Transaction Lead
ERCOT The Texas Connection
(512) 248-3948
(512) 567-2329 Mobile
dodle@ercot.com


Here are the updates for May.  You will notice I have not added the extra
deals for Equistar Chemical because it didn't effect the whole month, plus I
only found the split out for the sale upto 4/00 not the purchase.

Julie


I have interest in being wherever you are...i dont have any kids, but can i bring my cats?

xo

 -----Original Message-----
From: 	Mckay, Jonathan
Sent:	Wednesday, November 07, 2001 4:25 PM
To:	Lavorato, John; Tycholiz, Barry; Holst, Keith; Storey, Geoff; Arnold, John; Jenkins, Beth; Benson, Robert; Pimenov, Vladi; Mckay, Brad; Maggi, Mike; Griffith, John; Marquez, Jose; Roberts, Mike A.; Bennett, Stephen; Ames, Chuck; Neal, Scott
Subject:

Hello,

I was just dropping this note to see if anyone was interested in getting together for the Rice Owls homecoming game against Tulsa this weekend.  Game time is 2 pm and I thought we would get walk-up tickets (eveyman for himself).  If people are interested we would have a little tailgate party prior to kick-off and watch the 6-3 Owls (undefeated at home)  kill the Tulsa Hurricanes.  Drop me a line if you have interest as I am trying to get critical mass.

Jon

PS. Please invite anyone that has interest in coming along and bring your kids if you have them.


Attached you will find the interview packet for the above-referenced person.
The interview will happen Friday, March 30, 2001 .  Please print all three
documents for your hard copies.  If you have any questions, or conflicts of
schedule, please do not hesitate to contact me.

Sasha Divelbiss
58714


See especially pages 5 & 6 of the attached doc., which include the argument
that existing ROFR should not be grandfathered.  Please send any comments you
have to me.  Thanks!!
---------------------- Forwarded by Susan Scott/ET&S/Enron on 03/10/2000
09:09 AM ---------------------------

Shelley Corman
03/09/2000 06:20 PM
To: Caroline Barnes/FGT/Enron@ENRON, Martha Benner/ET&S/Enron@ENRON, Lynn
Blair/ET&S/Enron@ENRON, Sharon Brown/ET&S/Enron@ENRON, Jack
Boatman/FGT/Enron@ENRON, Janet Butler/ET&S/Enron@ENRON, Deb
Cappiello/ET&S/Enron@ENRON, Alma Carrillo/ET&S/Enron@ENRON, Janet
Cones/FGT/Enron@ENRON, Bill Cordes/ET&S/Enron@ENRON, Shelley
Corman/ET&S/Enron@ENRON, Larry DeRoin/NPNG/Enron@ENRON, Rick
Dietz/ET&S/Enron@ENRON, Dari Dornan/ET&S/Enron@ENRON, John
Dushinske/ET&S/Enron@ENRON, Sharon Farrell/FGT/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON, Lou
Geiler/ET&S/Enron@ENRON, John Goodpasture/OTS/Enron@ENRON, Bob M
Hall/FGT/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Glen
Hass/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Bambi
Heckerman/NPNG/Enron@ENRON, Theresa Hess/ET&S/Enron, Staci
Holtzman/FGT/Enron@ENRON, Tamara Hopkins/ET&S/Enron@ENRON, Stanley
Horton/Corp/Enron@Enron, Steven January/ET&S/Enron@ENRON, Anne
Jolibois/FGT/Enron@ENRON, Steven J Kean/HOU/EES@EES, Robert
Kilmer/FGT/Enron@ENRON, Frazier King/FGT/Enron@ENRON, Steve
Kirk/ET&S/Enron@ENRON, Tim Kissner/ET&S/Enron@ENRON, Laura
Lantefield/ET&S/Enron@ENRON, Terry Lehn/FGT/Enron@Enron, Teb
Lokey/FGT/Enron@ENRON, Dorothy McCoppin/FGT/Enron@ENRON, Mike
McGowan/ET&S/Enron@ENRON, Kent Miller/ET&S/Enron@ENRON, Mary Kay
Miller/ET&S/Enron@ENRON, Michael Moran/ET&S/Enron@ENRON, Sheila
Nacey/ET&S/Enron@ENRON, Ray Neppl/NPNG/Enron@ENRON, Virginia
O'Neill/ET&S/Enron@Enron, Zelda Paschal/FGT/Enron@ENRON, Maria
Pavlou/ET&S/Enron@ENRON, Keith Petersen/ET&S/Enron@ENRON, Peggy
Phillips/FGT/Enron@ENRON, Janet Place/NPNG/Enron@ENRON, Tony
Pryor/ET&S/Enron@ENRON, Pilar Ramirez/ET&S/Enron@ENRON, Jenny
Rub/GPGFIN/Enron@Enron, Patti Rumler/ET&S/Enron@ENRON, Cynthia
Sandherr/Corp/Enron@ENRON, Dave Schafer/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON, Emily Sellers/ET&S/Enron@ENRON, Sharon
Solon/ET&S/Enron@ENRON, Cindy Stark/Corp/Enron@Enron, Rockey
Storie/ET&S/Enron@ENRON, Dee Svatos/NPNG/Enron@ENRON, Gina
Taylor/HOU/EES@EES, Stephen Veatch/FGT/Enron@ENRON, Linda
Wehring/ET&S/Enron@ENRON, Julia White/ET&S/Enron@ENRON, Ricki
Winters/ET&S/Enron@Enron
cc:

Subject: Final Draft: GPG Order 637 Rehearing Comments

Thank you for all the comments.  Here is a last draft of our GPG rehearing
comments.  Please forward any additional comments no later than noon, Friday
March 10.

Significant changes from the last draft are as follows:
1.  We are asking the Commission to eliminate the peak/off-peak cost &
revenue study, rather than clarify that the study applies only to excess
revenues. (p.2)
2. References to the TW Global Settlement have been removed. The reference to
existing settlements is more generic and included only to preserve our
rights. (p.4)
3. A new argument on ROFR has been added.  We are asking the Commission to
immediately apply the new policy that ROFR does not apply to discount rate
agreements. (p.5-6)
4.Several reporting arguments have been deleted -- masking shipper names,
clarifying that only senior employee names have to be posted and clarifying
the Sept. 1 reporting date.  With respect to these last two arguments, we
have decided that we can interpret it our way without further clarification.
5.New clarification concerning the date for which the lifting of the price
caps on capacity release is to be implemented.


----------------------------------------------------------------------------
NATIONAL JOURNAL'S TECHNOLOGY DAILY
DAILY FEATURE
is now available on nationaljournal.com:
Click Here: http://nationaljournal.com/pubs/techdaily/
----------------------------------------------------------------------------

TECH DAILY AFTERNOON FEATURE:
International Roundup: Senior Writer William New looks at how the British
government aims to require more data storage by its communication service
providers.
click here to go directly to the feature -
http://nationaljournal.com/pubs/techdaily/features/international/internat011
017.htm

TODAY ON NATIONALJOURNAL.COM:
-- INSIDER INTERVIEW: What's Ahead For Tom Ridge
   http://nationaljournal.com/members/news/2001/10/1017insider.htm

-- AD SPOTLIGHT: Thune Kicks Off His 2002 Senate Campaign
   http://nationaljournal.com/members/adspotlight/2001/10/1017jtsd1.htm

----------------------------
To stop receiving these E-mail Alerts:

Reply to this message and include the word "unsubscribe" (without quotes)
in the BODY of the message.
----------------------------
National Journal's Technology Daily is published daily by National Journal
Group Inc. For more information about National Journal Group's
publications, go to http://www.nationaljournal.com.


how about today (Thurs) 3pm we can find a conference room


Start Date: 4/27/01; HourAhead hour: 11;  HourAhead schedule download failed.
Manual intervention required.


Well, here's the nearly final draft of what was submitted.  Evidently, we
decided to submit a bid on the original transaction structure, as well as two
alternatives. (not what I was lead to believe before.)  I spoke with John
about adding more disclaimer language to the letter to say that by submitting
the bid we aren't agreeing to enter into a transaction or even negotiate for
a transaction.  Also, I advised him that the confidentiality statements in
the letter were not great protection.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 05/08/2001 09:04
AM ---------------------------

John Llodra
05/07/2001 11:33 PM
To: Mark Dana Davis/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, W David
Duran/HOU/ECT@ECT, Jim Meyn/NA/Enron@Enron, Berney C Aucoin/HOU/ECT@ECT, Nick
Hiemstra/HOU/ECT@ECT, Tom May/Corp/Enron@Enron, Lloyd Will/HOU/ECT@ECT,
Jeffrey Miller/NA/Enron@Enron, Kay Mann/Corp/Enron@Enron, Edward
Sacks/Corp/Enron, Howard Fromer/NA/Enron@Enron, Paul Radous/Corp/Enron
cc:

Subject: Final draft of NIMO proposal letter

Please see attached final draft of the NiMO proposal letter.  I will be
submitting this by 10 AM Eastern (9 AM Houston time) on Tuesday 5/8, so
please provide any comments ASAP.  thanks

John


I was just about to call you when I got your email.  Holly called and she has
a table to fill at an awards banquet (some women's professional group or
something) and wants to know if you want to join us.  A bunch of her
girlfriends are going, me, Lucinda, I think Carol....anyway, it's Saturday
night at 7:00 pm.  She said it should be really boring (so I put it on my
calendar as "boring awards banquet"), but with all the girls at one table
we'll misbehave and have fun.  I hope you can join us.  Let me know and I'll
reserve you a spot w/Holly.

The thing on your house and townhome sounds exciting.  When can I see it?!

	"Patti Young" <pyoung@pdq.net>
	09/18/2000 05:44 PM

		 To: "Tana Jones" <Tana.Jones@enron.com>
		 cc:
		 Subject: Re: An Update

The name of the plant I told you about last week is DURANTA.

Think you will want it??

----- Original Message -----
From: Tana Jones <Tana.Jones@enron.com>
To: <pyoung@pdq.net>
Sent: Monday, August 28, 2000 8:28 AM
Subject: An Update

>
>
> That job I passed on your resume to in our group, I checked, and they
still
> haven't started interviewing people yet, since Barbara is on vacation
dropping
> her daughter off at college.
>
>


Mark Ashbrook left me a message.  I am sure that he is seeking feedback on
his interview.  Do you want me to talk to him.  If not, his phone number is
773 935 5101.

Thanks
Hunter


Following up on my previous e-mail regarding ABX 128, I now expect it to
include the following provisions.

1.  The tax will be on excess gross receipts from electrical energy
distribution.
2. The tax will be imposed on the person making the first sale of
electrical power in or into CA for consumer consumption.
3. The tax will be based upon the amount by which the gross receipts
from the sale exceed the amount that would have
been received if the sale had been made at a specified "base price" (to
be determined by the PUC).
4.  There will be a rebuttable presumption that the base price
represents afair sales price.
5.  There will be a withholding mechnism of this excess tax from the
purchasers, other than purchasers who are residential
consumers or small business users.
6.  It will require sellers to file annual tax returns to report the tax
on excess gross receipts and pay any remaining taxes
due.
7.  It will allow sellers to file a claim for refund in an attempt to
rebut the presumption that the base price was a fair sales
price.
8.  Provide certain nexus standards to California to provide the basis
to impose tax liability.
9. Include a 5-year sunset date.


Andy had mentioned to me that he would probably be signing the
confidentiality agreement  before it goes out, so I presumed that thats the
case . This is the first time I'm working on a project like this so I'm not
fully familiar with the process and would appreciate your help. If you think
the first draft that needs to be sent out does'nt require any signature lets
go with that. Thanks a lot.

Savita

From: Tana Jones@ECT on 07/21/2000 10:45 AM
To: Savita Puthigai/NA/Enron@ENRON
cc:

Subject: Re: Confidentiality Agreements

Why do we want Andy to sign the draft going out?  If it's not a rush, it
makes us look heavy handed to send a signed document, giving a tone like
"this is not negotiable!".

	Savita Puthigai@ENRON
	07/21/2000 10:32 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Confidentiality Agreements

Hi Tana,

To answer your questions

1. The companys full name is NatSource LLC
2. I'm not sure but it should be exactly the same as what we sent to True
Quote, Houston Street and Espeed.
3. The project is for posting EOL prices on NatSources Electronic Trading
Platform.
4. The companys address is
Nat Source LLC
140 Broadway
30th Floor, New York
NY 10005
It should be sent to the attention of Jack Hogan (Tel 212-232-5335,
fax-212-232-5354) Their General Counsel is Andrew O Connor (tel
212-286-1234). Andy Zipper will sign the document before it is sent.
5. Its not a rush we're just starting to talk to them.

I hope this gives you all the information you need. Thanks a lot.

Savita

From: Tana Jones@ECT on 07/21/2000 09:56 AM
To: Savita Puthigai/NA/Enron@Enron
cc:

Subject: Confidentiality Agreements

In order to prepare a Confidentiality Agreement, I will need the following
information:

1.  The company's full legal name
2.  Whether we want a bilateral or Enron Protected Counterparty form
3.  What is the nature of the protected information (what project or type of
transaction is it for)
4.  The company's address, phone number and fax number
5.  Any timing involved for getting this signed (is there a meeting Monday
morning at 9:00 am, so it's a rush, or just send it out, we're starting to
talk to them)


Attached is PIRA's latest "Gas Flash Weekly."

If you have any questions regarding the report's content, please contact:
Greg Shuttlesworth (email: greg@pira.com), Tom Howard (email:
tazh@pira.com), Richard Redash (email: Rich@pira.com), Nobu Tarui (email:
nobuo@pira.com) or Jane Hsu (email: jane@pira.com), at (212) 686-6808.

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

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

PIRA Energy Group

 - aga050201.pdf


keep an eye on ESPN.com tomorrow . . . the NCAA announces sanctions against
Alababma tomorrow . . . probably going to be 25 scholarships over 5 years
and no Bowl Game for 2 years

Regards,

Kevin A. Boone
Accenture -- Houston
(Octel) 713.837.1638
(Client) 281.848.1619
(C) 713.306.7940
(H) 713.864.4149
Kevin.A.Boone@accenture.com

Our web address is http://www.accenture.com

This message is for the designated recipient only and may contain
privileged, proprietary, or otherwise private 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.


LOS ANGELES (Dow Jones)--California Secretary of State Bill Jones has bolstered calls by top Republican legislators for an independent audit of the state's long-term energy contracts and purchases in the spot market.

Such an audit could eventually lead to renegotiating some of the $44 billion in contracts signed by the California Department of Water Resources, Jones said at a press conference Monday. He was joined at the event by former California governor George Deukmejian.

"Certainly it would be of benefit to the state based on the prices it paid to have some of those contracts renegotiated, though we have to follow the law like any other party," Jones said.

In recent weeks, Jones has called on California Attorney General Bill Lockyer to investigate possible conflicts of interest posed by consultants hired to negotiate contracts who also owned stock in energy companies. The state Fair Political Practices Commission is investigating the matter, and the federal Securities and Exchange Commission is also investigating whether any stocks were traded by state employees using insider knowledge. The attorney general hasn't officially said if he is investigating. Under state law, energy contracts could be void if a conflict of interest was found to exist during their negotiation.

"Some will say there are already many investigations underway, but a comprehensive audit conducted by an independent accounting firm is an entirely different matter," Jones said. "The attorney general's office isn't trained and equipped, nor is it their responsibility to perform such a comprehensive business audit."

The CDWR, which started buying power in January in lieu of the state's three cash-strapped utilities, has come under fire in recent weeks for buying too much power under long-term contracts and for locking in market-peak prices for up to 20 years. The CDWR has signed $44 billion in long-term deals and spent about $9 billion on spot purchases.

Senate, Assembly Republican Leaders Request Audit

Jones, who hopes to run against Gov. Gray Davis next year, said he supports a letter sent by Republican leaders to State Controller Kathleen Connell in mid-July requesting that she arrange an audit of the state's energy spending.

The letter, sent by Senate Minority Leader James Brulte, R-Rancho Cucamonga, and Assembly Minority Leader Dave Cox, R-Sacramento, asks that Connell consider arranging and paying for an outside consulting firm to determine if power contracts and purchases were prudent and if they will necessitate electricity rate hikes.

Connell's office verified that she received the letter and said she was preparing a response.

"We're responding to all the questions in the letter; we are definitely answering the questions. Check in later this week," said Lisa Casalegno, Connell's press secretary.

The letter, a copy of which has been obtained by Dow Jones Newswires, singles out two topics in addition to prudence and rate hikes. Those topics include how the price of energy was calculated and whether or not energy consultants pose a conflict of interest.

According to the letter: "How does the Administration arrive at the price of energy purchased through the long-term contracts? Are these figures inclusive of variable factors that can impact the potential price of energy? What is the true cost for the consultants with whom the Administration has contracted for electricity purchases? What oversight and accountability precautions have been taken to ensure that there is no conflict of interest?."

Connell has said in recent months that she fears the state's energy purchases will jeopardize its general fund as well as prospects for a $12.5 billion revenue bond sale in October to fund long-term power contracts. Last week, Assemblyman John Campbell, R-Irvine, asked the Assembly to hold immediate oversight hearings to investigate the state's energy-related activities, saying he had "serious concerns regarding several of the administration's actions."

Governor's Office, CDWR Say Audit Unnecessary

A CDWR spokesman dismissed calls for an audit as being politically motivated, noting that spot-market power prices have declined markedly since the contracts were signed.

"We're in a good position: we've avoided blackouts this summer and we have a reliable injection of energy, and that was our goal," Oscar Hidalgo said. "Everyone's trying to turn over a rock, but the bottom line is, we're seeing a market that's been well in control since June."

Davis' spokesman Steve Maviglio agreed that an audit wasn't needed.

"These have been the most scrutinized contracts the state has ever entered into," Maviglio said. "Besides, as a matter of course there will already be an audit for all CDWR spending by the State Auditor's office."

-By Jessica Berthold, Dow Jones Newswires; 323-658-3872; jessica.berthold@dowjones.com


For The Week of Tuesday , November 27, 2001

						[IMAGE]
					[IMAGE]
							[IMAGE]
								[IMAGE]
				[IMAGE] 				[IMAGE]

Important subscription information  Your privacy is extremely important to us. You are receiving this offer because you are a registered subscriber to one of our sites or one of our affiliate sites and have requested to receive recurring mailings. As a leader in permission-based email marketing, we are committed to delivering a highly rewarding experience with offers that include valuable discounts, bargains, special offers, sweepstakes, entertainment, travel and financial opportunities. However, if you feel you have received this message in error or if you wish to unsubscribe, please see the remove instructions at the end of this message.

Thank you for reading our special offers! Please forward this deal alert along to your friends. Have a great day!!!

Email Source Information
 * This email has been sent to you as a subscriber of MediaTrec.com  * To remove yourself from this mailing list, point your browser to: http://www.mediatrec.com/optout.cfm   * Enter your email address in the field provided and click "Unsubscribe".

[IMAGE]


Sorry I accidentally clicked on the wrong button--finger was faster than the
brain...

FYI - I just updated EOL/Profile Manager with new contract numbers for the
following counterparties:

Louisiana-Pacific Corporation
CP ID #3828
New Contract #96060718

Tauber Petrochemical Co.
CP ID #57491
New Contract #96060719

Call me if you have any questions @ 5-4435

Thanks, Georgi

	From:  Georgi Landau                           05/21/2001 03:04 PM

To: Tana Jones/HOU/ECT@ECT, Kelly Lombardi/Enron@EnronXGate
cc: Karen Lambert/Enron@EnronXGate

Subject: NEW IDA CONTRACTS FOR LOUISIANA-PACIFIC AND TAUBER PETROCHEMICAL

FYI