awww mannnn!!!!!
It seemed like a lot of stuff hit the fan on Friday. Not only there, but
here also.  It didn't hit me initially, but I got caught in some of the
backlash. I hope that your job is NOT in jeopardy. As for the changes. I can
go along with one of them. Guess which. The 8 - 5pm. I'll definitely be
changing to get off at 5pm or earlier. Oh watch your ego.  Its not all you.
I got a letter from Brian's Football team.  They have an equipment check
Saturday July 29 and practice starts that Monday at 6pm.  Being an Assistant
Coach, you know the drill.
As for this other nonsense about phone call/e-mail. If it ain't bad enough
that things.............Oh well. Do you feel me? #@$%*&*# Anyway, not
knowing the full extent what and why it happened (Your Blow Up) and my ever
evolving situation with a new twist.

I think I've said enough for now.

-----Original Message-----
From: Dana.Davis@enron.com [mailto:Dana.Davis@enron.com]
Sent: Monday, July 17, 2000 9:10 AM
To: BJACKSON@MSSPC.COM
Subject: RE:

Yes you told me that you saw us.  I blew up on someone (my boss).  I'm not
ready to talk about it  yet because it causes me to vividly relive the
whole thing and I'm just not ready to revisit that situation yet.  Although
I can say this....2 changes will be taking place because of this.
1. I'm changing my hours for 8:30 to 5:30   TO  8:00 to 5:00
2. I'm only going to communicate with you through e-mail

If you need something that's urgent,  you can leave me a message and I will
respond via email or go to another phone and call you.  (Yes , it's that
serious)
Anyway - not the end of the world just FYI.

Bobby Jackson <BJACKSON@MSSPC.COM> on 07/17/2000 08:39:05 AM

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

Good morning to you also. My weekend was very quiet. You would have been
proud of me. ??????? I would have preferred it a different way. Oh well.
The
explosion in question, is that the one at the refinery? Or is it another
one
regarding you blowing up on somebody.  Oh yes did I say that I saw you and
Kandace on Friday nite around 6:30pm. Sorry I didn't drive today. Funny I
checked my voice mail most of the weekend, the moment I didn't check I get
a
call.

C'ya

-----Original Message-----
From: Dana Davis [mailto:Dana.Davis@enron.com]
Sent: Monday, July 17, 2000 8:30 AM
To: bjackson@msspc.com
Subject:

Good Morning. How was your weekend? Evidently you didn't get my message
before
this morning and hopefully you got to work on time.  Well, because of the
explosion that accured Friday, don't call me I'll call you ( you are
ringing
my
phone now : )  Did you drive?


-----Original Message-----
From: 	VIKKI ANAYA <vanaya_vitoltvl@yahoo.com>@ENRON
Sent:	Friday, October 19, 2001 12:18 PM
To:	Sweet, Twanda
Subject:	RICHARD SANDERS ===TRAVEL TICKETED===

                                          AGENT JS/VA BOOKING REF
YR82DG

                                          SANDERS/RICHARD B

  ENRON
  1400 SMITH
  HOUSTON TX 77002
  ATTN TWANDA SWEET

  DATE:  OCT 19 2001                   ENRON

SERVICE               DATE  FROM           TO             DEPART
ARRIVE

CONTINENTAL AIRLINES  02JAN HOUSTON TX     LOS ANGELES CA 235P    406P
CO 447     B          WED   G.BUSH INTERCO INTL
                            TERMINAL C     TERMINAL 6
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         3:31 DURATION
AIRCRAFT:                   BOEING 737-800
                            SEAT 08D NO SMOKING CONFIRMED
SANDERS/RICHARD

CONTINENTAL AIRLINES  05JAN LOS ANGELES CA HOUSTON TX     815A    135P
CO 1928    Q          SAT   INTL           G.BUSH INTERCO
                            TERMINAL 6     TERMINAL C
                            SNACK                         NON STOP
                            RESERVATION CONFIRMED         3:20 DURATION
AIRCRAFT:                   BOEING 737-800
                            SEAT 07D NO SMOKING CONFIRMED
SANDERS/RICHARD

      AIR FARE 242.79       TAX 27.21           TOTAL USD
270.00

                                        INVOICE TOTAL USD
270.00

PAYMENT: CCAX378501018763004/0303/A000032

RESERVATION NUMBER(S)  CO/UG1YQL

SANDERS/RICHARD B                        TICKET:CO/ETKT 005 7035412594

CO  FREQUENT FLYER COTP028685
NON-REFUNDABLE TKT MINIMUM $100.00 CHANGE FEE
***********************************************
HIS IS A TICKETLESS RESERVATION. PLEASE HAVE A
PICTURE ID AVAILABLE AT THE AIRPORT. THANK YOU
                  THANK YOU FOR CALLING VITOL TRAVEL

=====
VITOL TRAVEL
713 FARGO AVENUE
HOUSTON TX 77006
713-526-0633-NEW NUMBER
1 800-724-7002

__________________________________________________
Do You Yahoo!?
Make a great connection at Yahoo! Personals.
http://personals.yahoo.com


THE FRIDAY BURRITO
"...more fun than a fortune cookie, and at least as accurate."

There is a hint of Autumn in the air.  I don't know if it's wishful
thinking, or if the seasons are really beginning to turn from our pale
summer into a Bay Area glorious Fall.  It's premature, I know.  A few
fallen leaves, the start of schools, slightly longer afternoon shadows
... I'm jumping the gun.  I can't wait for this summer to be over,
especially this summer.  The pounding never stops, and as I hear the din
of the cash register ringing with each climb in Southwest temperature, I
can barely keep track of all the hiccups which drive prices up: fires in
Montana restricting transmission paths, blown up interstate gas pipeline
in New Mexico, diminishing N-Ox credits for in-state power plants,
depleted inventory of hours of voluntary load interruptions for
commercial and industrial customers, credit limits restricting imports
of Canadian power into the Northwest and California, and BPA buying
about 1,000 MW to cover its short hydro position.

 I also get the willies every time another politician lambastes the
California restructured power industry.  I just want to end to the
summer, now, and start a two week Fall vacation ... anywhere, even in
Cleveland.

There are seven, count them, seven investigations into some aspect of
the wholesale power market out here.  Two days ago there were only six,
but FERC just added another yesterday in response to the Prez's
request.  That means FERC has two, the PUC has two, the State Attorneys
General has two (one on the ISO Governing Board, and one on the in-state
generators), and one by the Electric Oversight Board.  If you don't have
an ongoing study of the California Market, then you're not hip.

All of these investigations, save FERC's Section 206 Investigation, are
going to amount to near nothing.  A lot of wasted time and paper.  The
PUC and EOB studies have their conclusion sections all finished.  Now
they need some evidence to support their assertions.

And how are we holding up under all of this?  How are you doing?  I talk
to many of you throughout the week, and I know how frustrated you are.
I share your frustration.  You want to tell the public, the press, and
anyone in between the truth.  You want to lay out the facts.  You want
to show anyone who will listen that each interference into the market is
making things worse, not better.  The price caps, for example, are
damnable and screwing up the prices, much to the detriment of those
people for who price caps were supposed to be a protection against price
shocks.  Now they are receiving higher average prices.

The public isn't going to listen to anything longer than a sound bite.
And let's face it, when it comes to stellar public relations, our
industry is not known for turning in A+ performances, except for SCE.
Those guys seem to get their story in front of the public at every
turn.  I heard SCE is putting on their customers' bill, "Here is what
you would have paid if the rate freeze ended ....".  But many of us in
the new power industry, borne from the loins of either the natural-gas
industry or nuclear-power business, learned the hard way that the best
response to a public inquiry is a two-block head start in front of an
angry mob.  Keep your head down, shut your mouth, and this too shall
pass.

I don't buy that approach, at least not anymore.  That is, I don't
believe we have anything to hide, or of which to be ashamed.  What
electric restructuring is about is correct, beneficial to the public,
and in everyone's best interests.  Look at it this way, when they pat
the last shovelful of dirt on your final resting place, for what do you
most want to be remembered?  That you caved in to the political will of
others, or at a moment when you had the chance, you did what was right
instead of what was expedient?  I think the choice is easy, albeit laced
with sheer terror.  Those bland homilies I so diligently teach my kids
(e.g., tell the truth, do what is right, think of the big picture and
not just yourself) are a lot easier to speak than to live by.  So join
me and stand up for what you believe.  They can't take away your pride,
not yet.

Here is this week's line up.

>>> Things in the People's Republic of California
 @@@ Excerpts from FERC's Order on SDG&E Complaint
 @@@ The Development of a Super-Peak Block Energy Product

>>> The Mailbag: A Letter from My Friend, and A Response

>>> Odds and Ends (_!_)

 @@@ Finish the Story Contest
 @@@ October General Meeting
 @@@ What Makes Houston, Houston?

>>> Things in the People's Republic of California
 @@@ Excerpts from FERC's Order on SDG&E Complaint

President Clinton commented from the Rose Garden that good folks in San
Diego, retired, fixed-income, likely to vote for a Democrat, are making
choices between buying medicine or air conditioning their homes.  I call
this the Del Monica Beach lecture.  The Prez instructed the FERC to
investigate the situation in California, and FERC wasted no time.

In response to SDG&E's August 2 complaint, whereby the utility asked
FERC to impose a $250 price cap on generators in the region, the FERC
responded in a way that I was hoping to see several months ago.  The
FERC slammed SDG&E on their complaint for lack of merit, and the FERC
also initiated an FPA Section 206 Investigation into the wholesale power
market in California.

Here are some of the juicy excerpts from FERC's Order:

"In this order, ... , we are denying SDG&E's requested immediate
imposition of a price cap on all sellers in California.  However, we are
instituting consolidated hearing   proceedings pursuant to section 206
of the Federal Power Act to investigate the justness and reasonableness
of the rates and charges of public utilities that sell energy and
ancillary services to or through the California ISO and PX, and to also
investigate whether the tariffs and institutional structures and bylaws
of the California ISO and PX are adversely affecting the efficient
operation of competitive wholesale electric power markets in California
and need to be modified

"SDG&E concludes that the markets cannot be workably competitive if
sellers are able to exact prices that are considerably above levels that
would prevail in open competition, i.e., sellers are able to bid and
receive prices significantly above their marginal costs.  SDG&E also
argues that the hour-to-hour volatility in imbalance energy prices and
the erratic clearing price for ancillary services is an indication that
the market is breaking down when it is moderately stressed.

"While we find it appropriate to institute a section 206 hearing on
these issues, we cannot implement an immediate price cap of $250/MWh as
requested by SDG&E because there is no record before us to support such
an action.  ...  While the issues raised by this complaint are
important, the Commission has no basis to conclude that SDG&E's proposal
to place an immediate, arbitrary $250/MWh cap on the price that every
public utility seller of energy and ancillary services may bid into the
PX and ISO markets would satisfy this standard.  SDG&E has provided no
evidence to demonstrate that all potential sellers are able to exercise
market power, has not documented a single instance of a seller
exercising market power during times of scarcity, and did not attempt to
show that the conditions underlying the Commission's approval of
market-based rates for public utility sellers of energy and ancillary
services have changed.  Nor did it address specific market or
institutional  factors that may be causing rates to be unjust or
unreasonable.

"SDG&E asserts that the ISO's congestion management and market
structures are flawed and in need of overhaul. ... Furthermore, SDG&E
expresses its concern that, for a number of reasons, the congestion
management and market reform efforts being pursued by ISO stakeholders
will not produce  meaningful results.  SDG&E indicates that it is
prepared to work with the ISO to develop alternative reform proposals;
however, SDG&E's complains that the ISO stakeholder process has, in
SDG&E's judgment, been ineffective with respect to these issues.

"Various interveners contend that SDG&E's arguments are premature. ...
We agree with Interveners. ...  The reform efforts have been the subject
of extensive public review and comment and are nearing completion.
Accordingly, we reject SDG&E's arguments at this time.

"It is unclear whether SDG&E's failure to purchase hedging instruments
for its retail operations is due to state regulatory policies or its
business decisions.  A retail rate design that exposes consumers to the
volatility of commodity prices would be extraordinary, particularly when
consumers do not have the ability to receive or respond to price
signals.

"We are concerned that ... increasing level of market activity in the
real-time market raises significant reliability and economical concerns.
...  Historically, the ISO procures on a daily basis only the resources
needed for the operating day.  Not only does this procurement practice
put pressure on the grid operator to secure needed resources at the last
minute, but the practice is uneconomical.  Such spot-market purchases
are not subject to the ISO's  buyer's cap.  Furthermore, because the ISO
is the supplier of last resort for these services, when OOM calls are
made, suppliers realize that the ISO is in a must-buy situation.

"In an effort to address this problem, we direct the ISO to immediately
institute a more forward approach to procuring the resources necessary
to reliably operate the grid.  Specifically, the ISO should anticipate
the need for such additional resources based on  forecasted peak
periods.  We direct the ISO to factor these reforms into an analysis of
the need for and level of purchase price caps and to include this
analysis as support for any filing it makes to extend its purchase price
cap authority."

In closing, WPTF is an intervenor in the case, and we hope to be very
active in the case through testimony, cross examination, the filing of
briefs, and reply briefs.

>>> Things in the People's Republic of California
 @@@ The Development of a Super-Peak Block Energy Product

Several weeks ago, I discussed with the ISO their interest in developing
a new market for a block energy product that would be purchased in the
morning of a trade day, and be dispatched during the super-peak hours.
I challenged them to let the market participants develop this market
instead of the ISO doing the same.

At the August 1 ISO Governing Board meeting, I stated as the WPTF
position that we oppose price caps, but if the ISO Governing Board
insisted on going down the $250/MWH price cap route, we would do what
ever we could to help the situation and avoid the occurrences of Stage 3
alerts.  Whereas I didn't think about the conversation on super-peak
block markets as being relevant to  the remarks before the Governing
Board, it became painfully clear soon after that we could, and should
work with the ISO to develop a new market through either APX or the
California PX, or both, to bring some order to the otherwise chaotic Out
of Market system.

This week, WPTF and the ISO had a joint meeting whereby both sides
discussed the merits of a super-peak block firm-energy product, and how
it could be instituted.  The meeting at the ISO, at which WPTF had many
of its members who either have generation in the State, or import power
into California, was for market participants and the ISO to discuss how
to bring more order and price transparency to the ISO's out of market
calls. The ISO reported that this summer, to date, the amount of money
spent on Out of Market purchases was about $100 million.  Last year the
total cost of Out of Market purchases was $1.7 million.

APX and CalPX, in response to our earlier discussions with them,
presented their proposals at the meeting.  The discussions which ensued
during the course of the presentations focused on how the ISO might
utilize a product/service to reduce the manpower requirements currently
needed to satisfy its out of market telephone calls, typically on short
notice, and the interest on the part of market participants to make bids
into either the APX or CalPX's proposed system for a super-peak
firm-energy product.

There were no  commitments made by any party, simply a willingness to
work together to alleviate the problems associated with finding
sufficient electric power during high demand periods with greater
transparency, more participants, and greater market efficiency.

We'll keep you posted on our development of this market.

>>> The Mailbag: A Letter from My Friend, and A Response

Sometimes I share bites of our Burrito with fellow travellers, much as I
did last week when I sent my friend Mike Florio a copy of the story
called the Trial of Gow Jing.  Mike sent me a note that I would like to
share. He said I could.  I want you to read it and appreciate that there
are other people who share his view.  I also copied the response I sent
to Michael, a.k.a. Old Deuteronomy.

Michael wrote:

"I'm not going to attempt to complete your little melodrama [the
Gow-Jing story], but I did want to offer an observation.  In simpler
times, people knew the other people that they did business with, and
they typically lived in the same community.  If a merchant tried to
charge exorbitant prices for his products, even if he was the only one
in town who had the product in stock, he would face the wrath of his
fellow citizens.  This undoubtedly served as a constraint on such
behavior, even in the absence of a CPUC or FERC. Telling Mrs. Jones that
the loaf of bread she needs to feed her kids will cost her $50 would not
be a pleasant way to do business, and such things ordinarily did not
happen.

"In the modern global economy, of course, this personal aspect of doing
business has been almost completely lost.  And so has the restraint.  I
have no doubt that the folks who sell electricity are good people (jeez,
I know many of them), but they work in an environment where the end
results of their business decisions are invisible.  If Mrs. Jones can't
afford to run her refrigerator any more, that fact is at best dimly
perceived, and if so it is viewed as cause for some sort of social
program, not a reason why a merchant would alter his behavior.

"This is clearly not a case of socialism versus capitalism, because both
scenarios occur within the overall context of a capitalist system.  But
certainly something fundamental has changed, and not for the better in
my view.  Now everyone feels compelled to squeeze the last dollar out of
every transaction-- their jobs may even depend upon it-- and no one is
responsible for the end result.  Is this the kind of world we want to
live in???

"PUT THAT IN YOUR BURRITO AND SEE WHAT YOUR READERS SAY!  YOU CAN EVEN
BLAME ME, SO THAT YOU ARE NOT ACCUSED OF TURNING PINK IN YOUR MIDDLE
AGE.      Deut"

Okay.  It's in the Burrito.  And here is what I think.

You allude to the change in a world that was once "more personal" and is
now institutional.  You make the point that things are not better off if
for no other reason then the lack of personal accountability.  But I
don't think that in all cases the more personal world is lost.  It is
ever present, as I will argue below.  Second, your group embraces the
impersonal "efficiencies" when it is convenient.  Finally and most
importantly, where will your social-minded and like minded counterparts
be when competitive forces leap supply ahead of demand, which might
happen in a handful of years?

However, your essential point is not lost on me.  I do believe that
there are ways for generators and consumers to be good neighbors in
California.  I have a proposal below to which I would like to hear your
response.

First, though, the personal business touch is present in our economy.  I
exercise the restraint to which your story pines in many of my
consulting engagements which require financial give and take between
client and vendor.  It is simply smart business to do so.  I have been
the beneficiary of the same with my local bank when errors occurred in
my checking accounts, or when loan payments were made absent mindedly
late, etc., and the late fee forgiven.  However, much of our economy,
and certainly the trade of a commodity such as electricity requires the
use of markets.  Nameless and faceless, they do squeeze out all the
efficiencies which lead to lower prices, more innovation, and a sharing
of price risk with parties who are neither the ultimate consumer nor the
initial producer.  The producer and consumer get out of the risk
arbitrage and leave it to others who are more skilled and monied.

I find it ironic that TURN, then, is so insistent on arguing, as it has
done on many many occasions for the relaxation of market separation in
the ISO's congestion management reform.  Elimination of market
separation is nothing more than the impersonal forcing of parties to
execute trades on either side of a congested transmission path in the
name of market efficiency.  Lower prices for consumers.  Does it really
matter if it is done through person to person transactions, or through
markets?

Third, your story can be used to make an alternative point.  What
happens to the merchant in town when Wal-Mart moves into the next town
down the road?  All the faithful customers that your Merchant of
Vengeance was protecting suddenly migrate to a competitor with greater
inventory, more choice, and lower prices.  What do you say, then?  The
corollary for us is direct.  The new generation owners moved literally
billions of dollars into California, at risk, and took a chance.  It
paid off.  They succeeded as we all know this year, and probably will
next year, and so on.  But the 3,000 MW of new power plants under
construction in California, and the 3,000 MW under construction in
Arizona, and the over 16,000 MW of combined power projects in
California, Arizona, and Southern Nevada that are in line for permits
will change the financial landscape in a hurry once energized.  The
prices will soften, returns will be less cherry, and I really want to
know, where will today's accusers be when there is a shake out?
Consumers will reap that benefit, oh you best believe it. But the
alliances to which your opening story alludes simply misses that point.
You gotta make hay while the sun shines.

Now to my proposal.   Michael, I would be willing to work with you to
develop some kind of loan program for residential and small commercial
customers that would, in effect, reduce the economic hardship of higher
electricity prices.  I could imagine, although I haven't tested the idea
with any parties,  that a significant program could be crafted, possibly
secured by the credit of participating generating companies, and
executed by a commercial lending institution such as Bank of America.
Borrowers would pay a fair interest rate and the administrative fees.
It's simply smart business, not charity.  It's one way to amortize the
earnings which came about due to a circumstance of short supply relative
to the sudden growth of demand for power.

Maybe that is a step in the right direction, I don't know. One could
argue that it is no different than SDG&E implementing a level payment
plan for it's consumers.  True, it is no different, because in either
case the customer is paying for the loan interest and administrative
fees, and I consistently believe that a market for credit is more
efficient (am I getting impersonal?) than one instituted by a
monopoly.   Second, the security for these loans is provided by parties
other than the utility's customers.  Further, we wouldn't have to worry
about PUC oversight and prudence reviews.  We could make this work
quickly.

I will be very interested to hear your thoughts, and the comments of my
members.  Thanks for sending us your letter.

>>> Odds and Ends (_!_)

 @@@ Finish the Story Contest

Well, there was only one response, and that was from Carl Imparato.
Here is what Carl said,

"Am I missing something? Who is Gow-Jing supposed to represent? (Yes, I
get the pun in the name.  But is he also just an anonymous "everyman" or
is there someone in particular?)

"My first response to your question is that Gow-Jing simply replies
`Itai!' (You could look it up... I think it's Chinese for `it hurts!').
Then he takes out a concealed axe, goes on a rampage and kills
everyone.  But that's too realistic, so don't use that ending.  Instead:

"Ending:  Just as he was about to reply, a giant 500 foot wall of water
swept through the room, drowning everyone.  And they lived happily ever
after.  The end."

I haven't decided whether to name this response Carl's Gilgamesh Epic
(I.e., Noah and the flood), or Carl's Hydro Dream.  We'll leave the
contest open for another week.  Can't let $5 bucks go the only entry.
Where's the competition?

>>> Odds and Ends (_!_)

 @@@ October General Meeting

Barb Ennis, our event coordinator for our General Meeting wanted you
folks to know that the Inn at Morro Bay blocked a few more rooms for us
on Wednesday, October 4th (for the early birds) and of course Thursday,
October 5th. To date, 21 of the 24 rooms originally set aside in the
WPTF block are now taken.

Among the additional rooms, there are 2 rooms blocked with double beds
on Wed. & Thur. nights at $152.00 each and 6 rooms on both nights for
$89.00 each.  Folks, you better call the Inn at Morro Bay, telephone
800-321-9566.  Rooms should be requested under the name of the Western
Power Trading Forum.

Also feel free to call the Inn and book a room for Friday and Saturday
if you wish to stay over....ask for SHAWN.

For those who are in the golf, green fees are $28.00 plus $10.00 for the
cart.

Please RSVP me by E-Mail (baennis@ix.netcom.com) if you are attending
The Social Evening Dinner On Thursday Night ($45 per person, all are
invited) and also the luncheon on Friday (no charge) .... I must have an
accurate headcount.

Have a great weekend and see you at Morro Bay.......Barb

>>> Odds and Ends (_!_)

 @@@ What Makes Houston, Houston?

Dan Douglass of Arter and Hadden sent us the following item. Houston,
the unofficial home of the electric power industry, is a town you either
love or hate.  Here are some guiding principles offered by the Chamber
of Commerce of the 4th largest city to enable their many visitors to
cope.

   First you must learn to pronounce the city  name. It is YEWS-TUN and
it does not matter how people pronounce it in other places.

   Forget the traffic rules you learned elsewhere. Houston has its own
version of traffic rules. Never forget that downtown Houston is composed
entirely of one way streets. The only way to get out of center of town
is to
turn around and start over when you reach Dallas, Texas.

   All directions start with, "Go down  Westheimer..."

   Westheimer has no beginning and no end.

   It's impossible to go around a block and wind up on the street  you
started on. The Chamber of Commerce calls this a "scenic  drive".

   The 8am rush hour is from 6:30 to 9:30am. The 5:00 pm rush hour is
from 3:30 to 6:30 pm.  Friday's rush hour starts on Thursday morning.

   If you actually stop at a yellow light, you cannot be from Houston.

   Kuykendahl Road can only be pronounced by a native, so do not
attempt the phonetic pronunciation. People will simply tilt their heads
to the right and stare at you.

   Construction on the Gulf Freeway is a way of life, and a permanent
form of entertainment.

   Many bizarre sights can be explained simply by uttering the phrase,
" Oh, we're in Montrose!!"

   Construction crews aren't doing their job properly  unless they
close down all lanes except one during rush hour.

   If  someone actually has their turn signal on, it was probably left
on at the factory where the car was made.

   White haired men driving red or silver sports cars will not obey any
known traffic rule and cannot be expected to stop for red lights or stop
signs.

   All ladies with blue hair who drive Cadillacs or Lincoln
Continentals have the right of way.

   The above mentioned blue haired ladies also have a  legal right to
turn right from a left lane or to turn left from a right  lane. YOU HAVE
BEEN WARNED!

   Buying a  Houston street map is a waste of money since there is
absolutely no way that you can route yourself in such a manner as to
avoid major road construction.

   Houston natives are so rare that they are listed on the endangered
species list. The few remaining specimens are kept in a controlled
environment for their own safety.

   Sir" and "Ma'am" are used by the person speaking to you if there's a
remote  possibility that you're at least 30 minutes older than they are.

   "Sugar" is a more common form of  address than "Miss". So is
"Honey". Do not take offense. This is how southerners address grown
women.

   In Houston we drink Coca-Cola  and Dr. Pepper. It is rumored that
other soft drinks are sold here, but no one will admit to knowing anyone
who actually drinks them.  So don't ask for any other soft drink.

   What you need to know when arriving at Bush Intercontinental
Airport: Your arrival gate is at least 32 miles away from the Main
Concourse of any terminal.  Walking heels on your boots or walking shoes
are advised.

   Never honk your horn at another car in Houston traffic. The bumper
sticker that reads, "Keep honking, I'm reloading" is considered fair
warning.

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

Have a great weekend, y'all.

gba


look at sheet 2


Start Date: 1/30/02; HourAhead hour: 20;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002013020.txt


I will be taking April 4, 5 & 6 off.  My Mom is coming into town to visit her
new grandson.


As you all know I'm handicapped and its not because I'm a agiee.

Borrowed 10,000 dt from CNG Transmission intraday on the 17th, deal 219976.
Payback 10,000 dt over the weekend, 18th-20th, deal 219982.
ENA will pay CNG $.03 times the ending daily balance.

Please let me know if you have any questions.
thanks  3-4743


-----Original Message-----
From: 	"Frank A. Wolak" <wolak@zia.Stanford.EDU>@ENRON
Sent:	Friday, October 19, 2001 4:28 PM
To:	Kaminski, Vince J
Subject:

Vince,

  I've been hearing rumors that Enron has decided to endorse
the nodal pricing model as implemented in PJM.
I just wanted to warn you that I'm not sure
this is in Enron's long-term interest at all.  Let me explain
why.  Feel free to give me a call if you'd like to talk
more about this.

  First, let me say that I firmly believe in locational pricing
and specifically pricing congestion.  However, the way that PJM
implements nodal pricing is to eliminate as much price volatility
and reduce the transparency of the market.  Specifically, the
PJM tariff gives the ISO the ability to mitigate to cost plus a
%10 adder the bids of any market participant that the ISO deems
is out of merit in one of the three zones in region.  (The fact
that a nodal market is talking about zones should give you cause for alarm.)
Then the ISO takes this mitigated bid and re-runs its price-setting
software to compute new nodal prices.  The way I have (somewhat
unfairly) decribed this price-setting process is that the
PJM ISO decides what prices it would like
for a given day and mitigates bids until it gets them.  This is not
a transparent market, nor one where it makes any sense to buy
the risk management services that Enron provides.  The
only price volatility you have to worry about in the PJM market is
that kind that comes about if they need imports into their control area
to meet demand.  Under these circumstances, you need to pay the
imports whatever is necessary to get them to come to your market.

  However, bear in mind FERC's desire to make a large RTO on the
East Coast.  This will effectively mean little imports
to the East Coast RTO, so all bids can be mitigated at
the discretion of the ISO.  Paying market-clearing prices to cost-of-service
mitigated bids is just paying too much to eliminate price volatility.
It effectively kills off the development of risk management at
the wholesale and retail level.  Power marketing becomes much less
profitable because retailers know you can always buy at cost-mitigated
prices.

  In short, the PJM model is not market.  It is just an alternative
form of regulation that is politically attractive because it reduces
price volatility, but it is not good for consumers or traders because they just
get a higher cost form of regulation than traditional cost-of-service
regulation. You pay market-clearing prices to cost-of-service
mitigated bids, but under regulation you could just pay cost-of-service
prices and eliminate the infra-marginal profits to low cost generators.

  As we discussed during our dinner, I think the two biggest sources
of benefits from re-structuring will come from getting the demand-side
involved in the market and from more efficient risk management.  A
necessary condition for both of these to occur is prices that reflect
actual conditions in the market (including the extent of market power
exercised).  Masking these signals dulls any incentive for market
participants to make the investment necessary to management.  The PJM
model is just way to have a market in name without achieving any
significant benefits to consumers or energy traders.

Frank


Kay:

The Escrow Agreement that is attached appears to be in final form and
contains all of the changes that we requested.  As a result, will you
overnight the sig pages and the incumbency certificate to Tremaine Wright?
If you prefer, you can courier the documents to my attention, and I can
coordinate getting them to Paul Hastings.  Tremaine needs 3 sig pages and 1
incumbency certificate.  Thanks.

Regards,

Marisa

-----Original Message-----
From: Wright, Tremaine S. [mailto:TremaineWright@paulhastings.com]
Sent: Thursday, May 31, 2001 3:53 PM
To: 'mreuter@kslaw.com'; 'estelle.a.lawrence@citi.com'
Subject: ESCROW AGREEMENT

"paulhastings.com" made the following annotations on 05/31/01 16:52:42
----------------------------------------------------------------------------
--
NEW E-MAIL ADDRESSES AT PAUL, HASTINGS, JANOFSKY & WALKER LLP

We have changed our e-mail address.  Our new domain name is
paulhastings.com.  In most cases, our address is composed of
conventional first name and last name plus @paulhastings.com.  Here are
two examples: janesmith@paulhastings.com and danjones@paulhastings.com.
If you have any questions, please contact us at noc@paulhastings.com.

============================================================================
==
"The information transmitted is intended only for the person or entity
to which it is addressed and may contain confidential and/or privileged
material. Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you
received this in error, please contact the sender and delete the
material from all computers."

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

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

Content-Transfer-Encoding: 7bit
To:
Subject:
Date: Thu, 31 May 2001 17:15:34 -0400
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2653.19)
Content-Type: multipart/mixed ;
boundary="----_=_NextPart_002_01C0EA16.7657F5B0"

 - ATT43428.txt
 - ATT43429.htm
 - 757N05!.DOC


you in town this weekend?


CALENDAR ENTRY:	APPOINTMENT

Description:
	 Staff Mtg. Conference room EB4102

Date:		12/10/2001
Time:		10:30 AM - 1:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


I have attached another swaption for your review. This one will be contigent
upon us having an ISDA and closing on another project. I know we have worked
on some with that language and the only one I can find is the Quaker Swaption
which I emailed to you earlier today.

Thanks,

Jarrod


Start Date: 4/18/01; HourAhead hour: 6;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041806.txt

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/18/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_DESERT
  ENGY_TYPE: FIRM

---- SC Trades Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/18/01
  TRADING_SC: NCPA
  PNT_OF_INTRC: ZP26
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1


Here are the purchases we made for next week.  Let me know if you need anything else.

Thanks,
Holden


+ The recent hike in oil prices pushed inflation up to 7.56% in the week
ending September 30.
+ Hyundai Motors India plans to invest an additional $350 million over 3
years to enhance its existing production capacity and launch new models.
+ The Ministry of Power opposed Enron India's proposal for trading in surplus
power.

USIBC Daily News
October 16, 2000

Agro/Patents/Pharma
October 16: U.S.-based Rice Tec Inc withdrew 4 out of 20 claims from its 1997
patent on basmati rice. The Hindustan Times (Print edition only)

October 16: The central government sanctioned a $77.7 million relief package
for farmers of the north Indian state of Punjab. The Food Corporation of
India had earlier decided to suspend procurement of paddy as it found the
crop was sub-standard. The Times of India <
http://www.timesofindia.com/today/16home3.htm>
?<http://www.hindustantimes.com/>
Broadcasting/Entertainment
October 16: The Indian government announced that private agencies would start
FM radio broadcast on schedule in four major cities. The Times of India <
http://www.timesofindia.com/today/16busi13.htm>

Communications
October 16: Usha Telecom Ltd has decided to pay its entire outstanding
cellular-license fees of $70.2 million to the Department of
Telecommunications (DoT). This follows Usha Telecom's bid to sell its
cellular licenses. The Times of India <
http://www.timesofindia.com/today/16busi2.htm>

October 16: Southern Railways has completed an optic fiber cable network in
Tamil Nadu.? The Financial Express (Print edition only)

Economic/General News
October 16: The Associated Chambers of Commerce and Industry (Assocham)
stated that the slowdown in industrial growth (down to 5.3% during
April-August 2000) is expected to continue for the next 6 months. The
Financial Express <
http://www.financialexpress.com/fe/daily/20001016/fex16035.html>

October 16: The recent hike in oil prices pushed inflation up to 7.56% in the
week ending September 30, compared to 6.06% in the previous week. This is the
first time inflation has risen beyond 7% since the introduction of a new
index in April 2000. Business Standard <
http://www.business-standard.com/today/economy7.asp?Menu=3>

Energy
October 16: The National Oil Company of Oman is likely to purchase a 26%
equity stake in Bina Refinery of Bharat Petroleum. The Economic Times (Print
edition only)

Financial: Trade & Investment
October 16: CVD International, a U.S.-based entertainment hardware/software
development company, is likely to purchase 20% of Hyderabad-based Prathina
Video Private Ltd. The Financial Express (Print edition only)

October 16: Hyundai Motors India has decided to invest an additional $350
million over 3 years to enhance its existing production capacity and launch
new models. The Financial Express <
http://www.financialexpress.com/fe/daily/20001016/fco16031.html>

Information Technology
October 16: Cheecoo Networks announced its partnership with Yahoo-India.
Cheecoo Networks has a unique navigation, notification and communication
console. Cheecoo Networks will make Yahoo's popular services available to the
Internet community through their desktop application. The Financial Express
(Print edition only)

Insurance and Finance
October 16: The government finalized a cabinet note to amend the Banking and
Acquisition Act 1969. This will allow the government to reduce its ownership
percentage in nationalized banks to 67%. The Financial Express (Print edition
only)

Political/International
October 16: The Ministry of External Affairs confirmed that it received
requests from both Israel and the Palestinian National Authority (PNA) for
intervening in the West Asia peace process. However, the Indian government
offered only humanitarian aid and a general condemnation of the violence. The
Times of India (Print edition only)

Sanctions

Transportation/Infrastructure
October 16: The Ministry of Power opposed Enron India's proposal for trading
in surplus power. Enron plans to set up a wholly owned subsidiary and invest
$50-100 million to market power; including purchase of power from private
producers, transmission and distribution companies and state electricity
boards. The Foreign Investment Promotion Board (FIPB) has already referred
Enron's proposal to the Group of Ministers on foreign direct investment and
believes that power trading may be useful in reducing power losses. The
Economic Times (Print edition only)

October 16: India requires an investment of $65 billion to meet its urban
infrastructure needs, according to a paper prepared by the Confederation of
Indian Industry (CII). The Times of India ? <
http://www.timesofindia.com/today/16busi23.htm>

October 16: Indian financial institutions led by Industrial Development Bank
of India (IDBI) disbursed over $173 million to PPN, a 330 mw power project
based in Tamil Nadu. PPN will receive $73.6 million in rupee-denominated term
loans and a foreign currency loan of $93.7 million. The Financial Express <
http://www.financialexpress.com/fe/daily/20001016/fex16045.html>

==============================================================================
=
The USIBC Daily News is a free service of the U.S.-India Business Council to
USIBC Members and affiliates.
USIBC provides Internet links to news stories for informational purposes
only, and makes no representation
of the accuracy of information posted on other organizations' websites.? To
add or remove your name from this
list, or with questions or comments, please contact USIBC via e-mail at
usibc@uschamber.com <mailto:usibc@uschamber.com>.

U.S.-India Business Council
Website: <http://www.usibc.com>
1615 H Street NW
Washington DC 20062-2000
Phone 202 463 5492
Fax 202 463 3173

West Coast
477 Ninth Avenue, Suite 107
San Mateo, CA 94402
Phone 650 685 8790 xt. 16
Fax 650 343 2848


Lindy, I did not see you on this distribution list.  FYI, Kim.

-----Original Message-----
From: Smith, Ann
Sent: Thursday, November 01, 2001 4:57 PM
To: Harris, Steven; Watson, Kimberly; Miller, Mary Kay; Kilmer III,
Robert; Lokey, Teb; Hartsoe, Joe
Cc: McCarty, Danny; Fossum, Drew; Pavlou, Maria
Subject: Message from Greg Porter re: Update on Transwestern Pipeline
Company vs SoCalGas FERC Proceeding

PRIVILEGED & CONFIDENTIAL - ATTORNEY/CLIENT COMMUNICATION

FROM GREG PORTER

We have agreed with SoCalGas and FERC's ADR group lead by Rick Miles, to meet in Chicago on December 4, 2001 to begin mediation.  In anticipation of mediation, over the next month we will be meeting to prepare our mediation presentation and discuss potential settlement scenarios and strategies. We will have a better sense after the mediation session on December 4th whether SoCalGas is serious about its desire to resolve this proceeding amicably.  SoCalGas' lawyer has represented to me that they are interested in settlement and "prepared at some level" to compromise.

Should you have any questions regarding this matter, please do not hesitate to contact me.


Looks good to me.  Is it ready for me to print and give to Ben?

Kathy, how many originals do you think we should have signed? 4 or 5? Or some
other number?

Kay

To: kay.mann@enron.com, Scott Dieball/ENRON_DEVELOPMENT
cc:

Subject: Change Order #1

Kay/Scott:

Here is the latest version:

Kathy


Please ensure that no new matters are referred to Blakes without speaking to
me or Mark Haedicke first.


hey, how are you doing there kiddo?

Clay Guinn
EMPCo, Distribution,
  and L&PS GIS
800 Bell # 483-R
Houston, TX 77002
713.656.8246
clay.f.guinn@exxonmobil.com


As per your requests, attached is the Arthur Andersen Whitepaper on Accounting by Telecommunications providers.  I've highlighted some of the pertinent sections in yellow.  Any questions, please give me a call.

Jesse Morris
EBS Transaction Support
Phone:  713-345-4650
Cell:      713-408-6489
Fax:      713-646-5737
Email:    jesse_morris@enron.net


-------------Forwarded Message-----------------

From: INTERNET:jar@moneypit.net, INTERNET:jar@moneypit.net
To: Chuck Scott, CHARLIECOYOTE

Date: 11/28/00  5:43 PM

RE: Re: Korea

Great pic! I miss you guys. Just got a new type rating in the GV so that
is like a huge big weight off my shoulders. I hate check rides but I did
OK on this one. My new plane gets delivered in August of next year so I
have a ways to wait but it should be worth it. The damn thing can stay
in the air for 14 hours! A crew just flew one from Beijing to Memphis
non-stop. I don't know if I can sit there that long. I flew the F-5
today for the first time in a month and can you believe it everything
worked except the pilot. It has turned into a reliable little jet and is
a blast to fly. Today was one of those days when you could see both
coasts, it was really nice being up there in my single seater. It will
be me and the F-5 now for around 8 months because we sold the GIV,
something about making payments on a GV and a GIV was pretty horrific
and Gulfstream conveniently (for them) makes you pay for the new plane
when it comes off of the production line. Then you wait 8 months while
they put the interior in. This is the first new plane that I have ever
owned so I am excited. I got to watch them mate the wing the other day
which was quite a thrill. I got a video. No kids so I can bore people
with my GV memorabilia! How's Kath and Suze? I was getting an irregular
email from Suze for a while but I haven't heard from her from her in a
while, must take after her dad. Give me a call when next you are in Ft.
Lauderdale. 305-798-3559. Cheers.......JR

--
Jim Robinson email:jar@moneypit.net
Netsite:http://www.fitertown.com
It's better to die on your feet than to live a lifetime on your
knees.....Emiliano Zapata

----------------------- Internet Header --------------------------------
Sender: jar@mail.moneypit.net
Received: from mail.moneypit.net (heckle.moneypit.net [207.19.125.60])
 by sphmgaab.compuserve.com (8.9.3/8.9.3/SUN-1.9) with ESMTP id SAA11432
 for <CHARLIECOYOTE@compuserve.com>; Tue, 28 Nov 2000 18:43:10 -0500 (EST)
Received: from moneypit.net ([207.19.125.214]) by mail.moneypit.net
          (Netscape Messaging Server 3.6)  with ESMTP id AAA34DC50
          for <CHARLIECOYOTE@compuserve.com>;
          Tue, 28 Nov 2000 18:47:07 -0500
Message-ID: <3A244307.1B7CFFEF@moneypit.net>
Date: Tue, 28 Nov 2000 18:43:03 -0500
From: Jim A Robinson <jar@moneypit.net>
Reply-To: jar@moneypit.net
Organization: Fightertown Inc.
X-Mailer: Mozilla 4.76 [en] (Win98; U)
X-Accept-Language: en
MIME-Version: 1.0
To: Chuck Scott <CHARLIECOYOTE@compuserve.com>
Subject: Re: Korea
References: <200011281816_MC2-BC74-D8BE@compuserve.com>
Content-Type: text/plain; charset=us-ascii
Content-Transfer-Encoding: 7bit


If you cannot read today's e-Journal, please visit this link:  <http://www.michbar.org/e-journal/100501.html> Or to receive a plain text version, please send an e-mail to lyris@lists.michbar.org  In the body, type:  unsubscribe ejournal and on the next line type:  subscribe ejournal-text


Leslie,after seeing point # 3 in writing , I would be extremely reluctant to
submit. This kind of conjecture about  market manipulation , coming from us.
would only serve to fuel the fires of the naysayers- I would delete. Thanks.

From: Leslie Lawner on 12/12/2000 11:56 AM
To: Christi L Nicolay/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, Rebecca W
Cantrell/HOU/ECT@ECT, Ruth Concannon/HOU/ECT@ECT, Stephanie
Miller/Corp/Enron@ENRON, Phillip K Allen/HOU/ECT@ECT, Jane M
Tholt/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron
cc:

Subject: Talking points about California Gas market

Here is my stab at the talking points  to be sent in to FERC along with the
gas pricing info they requested for the California markets.  Let me or
Christi know if you have any disagreements, additions, whatever.  I am
supposed to be out of here at 2:15 today, so if you have stuff to add after
that, get it to Christi.  Thanks.


(See attached file: HPLN0329.xls)

 - HPLN0329.xls


Rogelio, the new corporate purpose looks very good to me...However, as you
know, Enron has recently acquired the largest metals trader in the world
(MG), and as of next september we will be able to trade metals on the London
exchange...I want the new corporate purpose to include "metals" in its
definitiion....

Peggy, let us know if this is O.K. with you so we can proceed....

Thanks and regards.

Rogelio L?pez Velarde <rlopezv@lvha.com.mx> on 05/30/2000 07:20:44 PM
Please respond to Rogelio L?pez Velarde <rlopezv@lvha.com.mx>
To: "Peggy Banczak" <pbancza@ect.enron.com>
cc: "Sean McCoy" <Sean.McCoy@lvha.com.mx>, "Shari Stack"
<sstack@ect.enron.com>, "Jaime Williams" <Jaime.Williams@enron.com>

Subject: Financial Trading Co.

See attachment.
?
The information contained herein may be  confidential and/or privileged. This
information is intended to be reviewed only  by the individual or the entity
to which is addressed. If the reader of this  e-mail message is not the
intended recipient or a representative of the intended  recipient you are
hereby notified that any review, dissemination or copying of  this e-mail
message or the information contained herein is prohibited. If you  have
received this e-mail message in error, please immediately notify the sender
and return this communication to the sender.
 - Memo new language.doc


Joanne:  I don't believe I ever got this file.  Thanks.  Sara

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Thursday, November 08, 2001 12:50 PM
To:	Rozycki, Joanne
Subject:	file:  Margin Lines / Trading Lines

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490


Here is information on the ability of CA generators to run in excess of their orginal offset NOx quantities.

Alan Comnes

 -----Original Message-----
From: 	Schoen, Mary
Sent:	Monday, June 18, 2001 3:23 PM
To:	Comnes, Alan
Cc:	Guerrero, Janel
Subject:	Re: FW: Davis Eases Power Plant Pollution Rules

The following is more explanation about the recent Executive Order (EO) signed by the Governor of California on June 11, 2001.  In order to avoid future blackouts, Governor Gray Davis is waiving limits on hours of operation and the associated emissions for natural gas-fired peaker units if they adhere to certain conditions.  He is requesting local air districts to allow natural gas-fired peaker power plants to operate in excess of their hourly, daily, quarterly and/or annual emission limitations if they do the following:

1.	Agree to sell power to the California Department of Water Resources or to a utility located in California
2.	To serve an operating utility's own load
3.	Agree to sell to another California-based utility

The gas-fired peaker units must also pay a mitigation fee to the local air districts of $7.50 per pound of oxides of nitrogen (NOx) and $1.10 per pound of carbon monoxide (CO) emitted.  (The Governor set this number - it is, however, the same amount the South Coast AQMD is charging for NOx offsets in the modifications it made to the RECLAIM program.) These mitigation fees will be used to clean up or retire other sources of pollution in the same air basin.  The Governor is ordering the California Air Resources Board to work with the Environmental Protection Agency to ensure that power plants willing to operate under this order obtain the necessary approvals.

As you know, there are many peaking plants that are close to exhausting their allowable operating hours.  Once these facilities exhaust the amount of allowable hours they would have to either shut down the units or negotiate an agreement with the local air agency to continue to operate.  With the exception of Mirant Potrero in San Francisco and Reliant Energy Mandalay in Ventura County, no facilities have negotiated such agreements.  The EO issued by the Governor gives the peaker facilities a blanket approval to operate beyond the restrictions.  The Governor believes that waiving of the requirements will also minimize reliance on backup diesel-fired generators, which have even higher emissions than the natural gas peakers.  In my previous discussions with the US EPA Region 9, they did say they were willing to work with the state to provide variances to power plants' operating limits.  However,  in the two instances mentioned above, the EPA required the plants to agree to install pollution control equipment at a specific future date.  This aspect of the agreement was critical to EPA, because the increased emissions from the peakers with increased hours are now significant enough (major source status) to trigger New Source Review which requires installation of Best Available Control Technology (BACT).  The EO by the Governor makes no mention of future controls.

According to municipal utilities and other generators, the Governor's action could provide up to 1,200 Megawatts of additional power this summer by expanding the number of hours of operation at natural gas-fired plants.   The EO will expire on October 31, 2001, unless revoked, modified or extended by further executive order.  The air director of the Ventura air board has already sent comments opposing this order due to its negative air impacts.  Environmentalists will also no doubt object.  The EPA has not yet responded.  Despite the potential negative environmental effects, the political pressure will be strong to let these plants operate.  I will keep my ears open for additional developments on this matter, please let me know if you have any questions.

From:	Alan Comnes/ENRON@enronXgate on 06/12/2001 11:57 AM
To:	Mary Schoen/NA/Enron@Enron
cc:

Subject:	FW: Davis Eases Power Plant Pollution Rules

Mary,

Any insight into this latest change would be appreciated by the traders.  Is this order any different than the SCAQMD $7.50/ton program already implemented?  Will EPA allow that state to do this?

Thanks,

Alan Comnes
 -----Original Message-----
From: 	Comnes, Alan
Sent:	Tuesday, June 12, 2001 9:55 AM
To:	Alonso, Tom; Alvarez, Ray; Badeer, Robert; Belden, Tim; Calger, Christopher F.; Dasovich, Jeff; Driscoll, Michael M.; Fischer, Mark; Foster, Chris H.; Guzman, Mark; Hall, Steve C.; Heizenrader, Timothy; Kaufman, Paul; Mainzer, Elliot; Mallory, Chris; Mara, Susan; Motley, Matt; Perrino, Dave; Platter, Phillip; Richter, Jeff; Scholtes, Diana; Swain, Steve; Swerzbin, Mike; Williams III, Bill; Wolfe, Greg
Subject:	Davis Eases Power Plant Pollution Rules

Tuesday, June 12, 2001
Davis Eases Power Plant Pollution Rules
 Electricity: Order will allow more production from heavily polluting 'peaker' facilities.

By DAN MORAIN, Times Staff Writer

     SACRAMENTO--Gov. Gray Davis agreed Monday to lift air emission limits on heavily polluting power plants and allow them to run at capacity this summer as long as the electricity they produce is sold in the state.
     State officials said the plants must be pressed into use to avoid blackouts.
     Davis' executive order lets the generators build the cost of air pollution fines into the price the state pays for electricity produced by natural gas-fired power plants, said Catherine Witherspoon of the California Air Resources Board.
     Municipal utility districts--including the Los Angeles Department of Water and Power--and independent power companies could supply as much as 1,200 megawatts from so-called peaker plants, facilities that generally are permitted to operate for only a few hundred hours a year because they pollute so heavily. That is enough power for more than 1 million homes.
     Other gas-fired power plants that have been shut down because of air pollution restrictions also could be started up as a result of the order.
     In a news conference Monday, state officials said the order will have the effect of lowering air pollution by limiting the use of far dirtier diesel generators, which industry could use if power supplies are threatened.
     "If we don't get every last megawatt we can [from natural gas-fired plants]," said Witherspoon of the air board, "we will see people turning to diesel more frequently."
     Added Kellan Fluckiger, a top energy advisor to Davis: "If you don't run these, you're either going to have outages or you're going to run something dirtier."
     Fluckiger said the order expands "the number of hours these things can run and the amount of energy they can produce."
     New natural gas-fired power plants emit about half a pound per megawatt-hour of operation of ozone-producing pollutants. The plants affected by the order emit between two and five pounds of oxides of nitrogen per megawatt-hour.
     If the plants are pressed into operation for 200,000 megawatt-hours this summer, there will be between 400,000 and 1 million additional pounds of oxides of nitrogen emitted into the air.
     The state probably will end up paying the fees associated with the extra pollution through higher electricity prices. The fees amount to $7.50 per pound of oxides of nitrogen--or $7.5 million if the plants operate for 200,000 hours--and $1.10 per pound of carbon monoxide emissions. The money would be used to reduce air pollution from other sources.
     "Under this order, dirty power plants can run as long as they want and pollute as much as they want so long as they pay into a fund," said Gail Ruderman Feuer, senior attorney with the Natural Resources Defense Council. "Our concern is that there's no guarantee that the fund will result in emission reductions any time soon."
     A Ventura County air pollution control official said that running one peaking power plant operated by Reliant Energy for one hour is the equivalent of adding 20,000 new cars to Ventura County highways for an hour. Reliant Energy could not be reached for comment Monday night.
     "To the extent that they run when not needed for an emergency, it's going to put more air pollution into Ventura County skies and it's going to make our air dirtier," said Dick Baldwin, air pollution control officer for Ventura County.
     Los Angeles DWP Director David Wiggs hailed the order, saying it was needed so the city can sell the state as much as 1,000 megawatts of power this summer.
     "This was the issue we had to have solved or we could not offer any of our excess capacity to the state," Wiggs said.
     He added, however, that the city and state have not yet agreed on a price for the power. Wiggs said the city is "negotiating to get our cost as low as we can legally charge" so that customers of the city utility district are not subsidizing consumers in the rest of the state. Municipal utility districts elsewhere in the state also are expected to benefit from the order.
     Though the order was aimed at spurring municipal utilities to sell power to the state, it also applies to independent power producers such as Reliant Energy of Houston and Duke of North Carolina--both of which have called on Davis to ease air pollution restrictions on their old natural gas-fired facilities.
     "This puts more money in the Texans' pockets and more air pollution in Ventura County residents' lungs," said Baldwin of Ventura County.
     Doug Allard, a Santa Barbara County air pollution control officer, also said it seems as if the governor is giving private power generators much of what they had sought.
     "We have serious concerns about the order," said Feuer of the Natural Resources Defense Council. "It's taking the discretion away from local air districts to regulate power plants in their region."

* * *
     Times staff writer Nancy Vogel contributed to this story.
     RELATED STORY
     Utility: Edison plans to raise $1 billion in debt restructuring. C1
Copyright 2001 Los Angeles Times


Thanks for the feed back - it may not have been the same Greg Johnston (she said that her Greg had an "e" at the end of his name)


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude77.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas77.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil77.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded77.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG77.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG77.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL77.pdf

Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606  USA
Tel:  312-368-6149
Fax:  312-368-2281
soblander@carrfut.com
http://www.carrfut.com


Could you get me the Inside Ferc file for June 2002 please?

Thanks


DON'T GIVE IN UNLESS YOU GET WHAT YOU WANT!!  Good luck!


How about this?  It may be too formal, but I don't know how well you know
this guy.  Call me before you send it.

Paul,

Thanks for forwarding my resume to Tom.  I met with him and several other
nice people over there this afternoon.  They seem like a great group to work
with.  The position sounds very interesting and like it would be a good
opportunity.  Hopefully, something will work out.  Again, I really
appreciate your efforts.

Joe

-----Original Message-----
From: Parks, Joe [mailto:Joe.Parks@ENRON.com]
Sent: Tuesday, February 05, 2002 3:06 PM
To: Kim Parks (E-mail)
Subject: Thanks

Paul
	Thanks for forwarding my resume to Tom. I had the opportunity to
meet with him and a group over there this afternoon.  Seem like a nice group
you work with. Hopefully things will work out, sounds like a good
opportunity. Once again, thanks for your efforts.

JOE

can you improve this? ( rewrite)

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


fyi... transcript of Gov. Davis' remarks in San Diego today.
---------------------- Forwarded by Karen Denne/Corp/Enron on 11/14/2000
04:19 PM ---------------------------

"sandra" <SYamane@marathon-com.com> on 11/14/2000 04:02:48 PM
Please respond to "Sandra Yamane" <SYamane@marathon-com.com>
To: <karen.denne@enron.com>, Windows@marathon-com.com,
Windows@marathon-com.com
cc:

Subject: GOVERNOR DAVIS CALLS ON FEDERAL ENERGY REGULATORY COMMISSION TO
ORDER CONSUMER

 - GOVERNOR DAVIS CALLS ON FEDERAL ENERGY REGULATORY COMMISSION TO ORDER
CONSUMER REFUNDS AND PRICE CAPS.htm


Rick:

I guess you will have been reasonably pleased with the Commissions July 12th
Orders on the RTOs. It seems to be going down the same basic road we have
been discussing.

I guess there will now be a relatively short process to outline each of the
proposed mega-RTOs. While the Northeast RTO is most pinned down, the others
seem well up in the air. The Southeast RTO in particular seems to be
flailing a bit.

If you or any of your folks were keen I am very interested in the SE RTO and
Western RTO in particular. As they move beyond the usual groups of utility
guys sitting around a table it might be a good time to throw some economic
reality into the picture. Could be method for presenting some of the
thinking of the policy paper to the world?

Hope you had a good trip to London. Heard it has been very warm over there
(although not of course by Houston standards...)

Seabron

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.

Seabron Adamson
Frontier Economics Inc
Two Brattle Square
Cambridge, MA 02138 USA
Ph:  (617) 354-0060
Fax: (617) 354-0640
seabron.adamson@frontier-economics.com

www.frontier-economics.com


Don,

Wanted to e-mail you what schedulers are doing what regions so your hourly guys will know for scheduling problems.

Cinergy-			Pat Hanse

TVA/SOCO/Florida/JEA-		Larry Campbell

Comed-				Ashish Mahajan

Entergy-			Gretchen Lotz

MAPP-				Matt Lorenz

PJM-				Lisa Burnett

Nepool-				Anubhav Aggarwal

I back up every region, so when in doubt, they can call me.

Thanks,

Jason


Clickpaper Executive Summary for 4/3/01
Transaction Summary	New in Prior
	24 Hours	LTD
External Transactions 	4	279
Notional Value of Deals Completed 	$103,322	$689,838,435
Notional Tonnage of Deals Completed	460 tons	1,176,270 tons
Notional Board Feet	264,000 BF	23,972,000 BF
Notional Square Feet	0 SF	2,910,000 SF

Registration Activity	New in Prior
	24 Hours	LTD
Registered Clickpaper Users	1	442
Guest ID's Issued	0	2,429
Credit/Legal Review in Process	7	22
Credit Declined with Process Complete	0	11
Number of Password Applications Received	2	560

Products Offered	New in Prior
	24 Hours	LTD
Number of Financial Products Offered	0	60
Number of Physical Products Offered	0	69

Counterparty Activity
Number of Counterparties Having Transacted to Date	43
New Counterparties Transacting for the First Time Today	0


Jackie,

I have forwarded the following contracts via inter-office mail for your
further handling:

96018440, 96018441, 96018442 (each with an associated amendment).

Thanks,

Eric Gillaspie
713-345-7667
Enron Building 3886


Mark,

Hope you had a good trip back.

Please let me know if you need a hand finding the Fred Lagrasta newsletter on
EnronOnline and/or if you are concerned by its contents.

Thanks,

Dave


>,
 "Mother & Dad Taylor (E-mail)" <mzeleanor@juno.com>,
 "Sharon at work (E-mail)" <sludwig@comdt.uscg.mil>
Subject: FW: The Healthy Christians
Date: Fri, 23 Mar 2001 10:05:34 -0500
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
Content-Type: text/plain;
 charset="iso-8859-1"

>  -----Original Message-----
> From:  Pitrat, Charles A (Tony) Mr USACHPPM
> Sent: Friday, March 23, 2001 10:00 AM
> To: Taylor, Timothy G Mr  USACHPPM
> Subject: The Healthy Christians
>
>
>
>
> Two Christians have lived very good, and also very healthy lives. They
> die, and go to heaven.
> As they are walking along, marvelling at the paradise around them, one
> turns to the other and says "Wow. I never knew heaven was going to be as
> good as this !"
> "Yeah", says the other. "And just think, if we hadn't eaten all that oat
> bran we could have got here ten years sooner."
>
>
>  -----Original Message-----
> From:  Taylor, Timothy G Mr  USACHPPM
> Sent: Friday, March 23, 2001 8:42 AM
> To: Bazar, Matthew A Mr USACHPPM; Chang, Hsieng-Ye Ms HJF; Coakley,
> Stafford D (Rhawli) Mr HJF; Daughdrill, David L Mr USACHPPM; Druck, Dennis
> E Mr USACHPPM; Gaborek, Bonnie J Ms USACHPPM; Gaizick, Lia M Ms ORISE;
> Galusky, Parrish E Mr USACHPPM; Hawkins, Melanie S Ms USACHPPM; Hoddinott,
> Keith B Mr USACHPPM; Hutchens, Sherri L Ms USACHPPM; Janus, Erik R Mr HJF;
> Leach, Jeffrey G Mr USACHPPM; McAtee, Matthew J Mr USACHPPM; Pilcher, Les
> Y Mr USACHPPM; Pitrat, Charles A (Tony) Mr USACHPPM; Schuliger, Jeffrey W
> Mr HJF; Shackelford, Ronie E Ms HJF; Tannenbaum, Lawrence V Mr USACHPPM;
> Taylor, Timothy G Mr  USACHPPM; White, Thomas M (Mike) Mr USACHPPM
> Subject: Fortune Cookie Philosophy
>
> It is not the person who has too little,
> but the person who always craves more, that is poor.
>
>
> hmmm....


Yes! Believe me, I can't wait!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 11:46 AM
To:	Rybarski, Amanda
Subject:	RE:

early this week i hope

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:30 AM
To:	Maggi, Mike
Subject:	RE:

okay, I will...this week!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:29 AM
To:	Rybarski, Amanda
Subject:	RE:

prove it

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:28 AM
To:	Maggi, Mike
Subject:	RE:

you are the big cheese to me baby!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:27 AM
To:	Rybarski, Amanda
Subject:	RE:

i dont really know what he is going to do, i thought i was always the big cheese

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:26 AM
To:	Maggi, Mike
Subject:	RE:

REALLY, where is he going? Are you going to be the big cheese now?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:25 AM
To:	Rybarski, Amanda
Subject:	RE:

i am staying also but john is not

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:25 AM
To:	Maggi, Mike
Subject:	RE:

no he's staying...what about you?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:24 AM
To:	Rybarski, Amanda
Subject:	RE:

me too, is chris leaving

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:24 AM
To:	Maggi, Mike
Subject:	RE:

I wish...that would be my dream job!

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:23 AM
To:	Rybarski, Amanda
Subject:	RE:

really, so who then, me?

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:23 AM
To:	Maggi, Mike
Subject:	RE:

yeah, but I don't know for who...I don't think I will be working for Chris.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:22 AM
To:	Rybarski, Amanda
Subject:	RE:

im glad to hear that, so are you going to be doing the same thing

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Tuesday, January 22, 2002 10:21 AM
To:	Maggi, Mike
Subject:	RE:

Not at all...I just now got my offer letter...FINALLY.  What about you? Anything exciting?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, January 22, 2002 10:20 AM
To:	Rybarski, Amanda
Subject:

anything exciting going on over there


The Legal Committee meeting normally held every other Monday in conjunction
with the OGC meeting will not be held for approximately two months.  The OGC
meetings will continue every Monday morning as usual beginning 8:30 am
Central time.  You will be notified when the Legal Committee meetings
resume.  Thank you.


Drop me a line and let me know when you think you'll be getting in on Friday.  Also, did you have any interest in doing something Friday or Saturday night?


Good morning.

Following-up yesterday's discussion regarding the ISDA Notebooks, I am
preparing to have extra sets of the ISDA Notebooks printed.  Please advise
how many sets you need, if any.

Taffy


Dear fellows,
Please remember to fill out your pledge card for United Way (even if you
don't plan on contributing)  if you haven't done so thus far.
Thanks,
John


Thanks.

 -----Original Message-----
From: 	"Emery, Henry" <henry.emery@ubspainewebber.com>@ENRON [mailto:IMCEANOTES-+22Emery+2C+20Henry+22+20+3Chenry+2Eemery+40ubspainewebber+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, June 18, 2001 8:57 AM
To:	Presto, Kevin M.
Subject:	RE: Portfolio Manager

Mr. Presto,
I have the answer back from UBS PaineWebber on the reimbursement the fees
that you have been charged in the past on your options trades. Although I
did convince them to let us waive all future fees, it was pointed out to me
that it does say in your InsightOne Account Agreement under the paragraph
"Other Fees and Charges" that "With respect to aggregate trades of over
5,000 equity shares or 50 option contracts executed in the same security on
the same side of the market (buy or sell) on the same day, Client will also
pay $.02 per equity share on all shares over 5,000 and $2.00 per option
contract on all contracts over 50." Please give me a call if you have any
questions.

Thanks,

Hank Emery

-----Original Message-----
From: Presto, Kevin M. [mailto:Kevin.M.Presto@enron.com]
Sent: Friday, June 15, 2001 1:31 PM
To: henry.emery@ubspainewebber.com
Subject: Portfolio Manager

I am trying to customize the view and I keep getting an error.   Can you
check into this problem.

I want the view for both portfolios to be:		Open Date
						Quantity
						Purchase Price
						Last Price
						Cost Basis
						Market Value
						Gain/Loss
						Gain/Loss%

Can you make this the default view setting.

thanks.

Notice Regarding Entry of Orders and Instructions: Please
do not transmit orders and/or instructions regarding your
UBS PaineWebber account(s) by e-mail. Orders and/or instructions
transmitted by e-mail will not be accepted by UBS PaineWebber and
UBS PaineWebber will not be responsible for carrying out such orders
and/or instructions.  Notice Regarding Privacy and Confidentiality:
UBS PaineWebber reserves the right to monitor and review the content of
all e-mail communications sent and/or received by its employees.


John,

It was good to see you this afternoon.  Looks like 2 banks are going to bid
on the wholesale desk, should mean good things for the group.  Thanks for
the lead I will most defiantly follow up.

Matt

----- Original Message -----
From: <John.Griffith@enron.com>
To: <mtitus@myfirstlink.net>
Sent: Monday, December 10, 2001 1:33 PM
Subject: FW: What's up

>
> Matt check out these people.  Jeff young used to be my boss, they are
> consultants.  Let me know.
>
> John
>  -----Original Message-----
> From:     Jeff Young <Jeff.Young@PAConsulting.com>@ENRON
> Sent:     Monday, December 10, 2001 2:41 PM
> To:       Griffith, John
> Subject:  RE: What's up
>
> Sure...have them forward resumes and look at our website
> www.paconsulting.com
>
> Jeff
>
>
> -----Original Message-----
> From: John.Griffith@enron.com [mailto:John.Griffith@enron.com]
> Sent: Friday, December 07, 2001 10:14 AM
> To: Jeff Young
> Subject: What's up
>
>
>
>      There are alot of people getting laid off over here.  Do you guys
have
> any openings?  Can I send them your way to talk to them?
>
>      I am talking experience from the trade floor down to clerks.
>
>      Thanks for any help that you can give.
>
>      John
>
>
>
>
> **********************************************************************
> This e-mail is the property of Enron Corp. and/or its relevant affiliate
> and
> may contain confidential and privileged material for the sole use of the
> intended recipient (s). Any review, use, distribution or disclosure by
> others is strictly prohibited. If you are not the intended recipient (or
> authorized to receive for the recipient), please contact the sender or
> reply
> to Enron Corp. at enron.messaging.administration@enron.com and delete all
> copies of the message. This e-mail (and any attachments hereto) are not
> intended to be an offer (or an acceptance) and do not create or evidence a
> binding and enforceable contract between Enron Corp. (or any of its
> affiliates) and the intended recipient or any other party, and may not be
> relied on by anyone as the basis of a contract by estoppel or otherwise.
> Thank you.
> **********************************************************************
>


Your suggestion is probably cheaper for Enron!

"Shoemaker, Kent (GEAE)" <kent.shoemaker@ae.ge.com> on 11/13/2000 05:03:12 PM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject: RE: GE Agreement Redline

Tell them to reverse the CompareWrite and redo (should be an easy fix).
Otherwise, we can just agree to all of GE's suggested changes and call it a
day!

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, November 13, 2000 5:44 PM
To: kent.shoemaker@ae.ge.com; lee.johnson@ss.ps.ge
Subject: GE Agreement Redline

Looks like they have a rats nest to figure out.

ckm
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/13/2000 04:41
PM ---------------------------

"Thompson, Peter J." <peterthompson@akllp.com> on 11/13/2000 04:13:35 PM

To:   "Kay Mann (E-mail)" <kay.mann@enron.com>, "Pipitone, Paul"
      <paulpipitone@akllp.com>
cc:   "Pipitone, Paul" <paulpipitone@akllp.com>, "Pipitone, Paul"
      <paulpipitone@akllp.com>, "Cobb, Christopher" <chriscobb@akllp.com>

Subject:  GE Agreement Redline

I just opened the redline that I just forwarded to you all.  I
apologize, but it is still wrong.  The language I added shows up as a
strike-through and ther language I deleted shows up as though added.  I
am desperately atempting to get this straightened out.


FYI: As you know, the CPUC had requested that TW provide copies of the responses to the earlier El Paso data request. We provided those copies to the CPUC yesterday.


Did Jeff say anything on payment of the invoices?

-----Original Message-----
From: Mann, Kay
Sent: Wed 5/23/2001 2:11 PM
To: Jacoby, Ben
Cc:
Subject: RE: Blue Dog

 Steve Swift and Jeff Darst, although Jeff is off the call now.

 From: Ben Jacoby/ENRON@enronXgate on 05/23/2001 02:08 PM
 To: Kay Mann/Corp/Enron@Enron, Fred Mitro/ENRON@enronXgate
 cc:

 Subject: RE: Blue Dog

 OK. We can push back on the TECO term sheet call. Let Fred and me know what
works.

 Who at GE are you talking to?

 -----Original Message-----
 From: Mann, Kay
 Sent: Wed 5/23/2001 2:03 PM
 To: Jacoby, Ben
 Cc:
 Subject: Blue Dog

 I'm on the phone with GE.  Their initial response to the assignment stuff is
positive.  They want a letter which sets out the ownership of the LLC and
what we are doing on payment.

 I've been working on TECO term sheet, but I'm not sure I'll be done by 300,
depending on this call.

 Kay


Knudsen, Sheila A. would like to recall the message, "Reply Requested: Do You
Code Or Approve Invoices?".


I created the term gd basis products for waha, perm, sj, opal, and malin this
weekend.  Call Dale or Melba to activate.  Keith and I briefly discussed how
we would handle the new responsibility.  I am fine with managing the prompt
month gd basis, while you guys manage the term.  I will be back in the office
this week and we can talk about the products.  Would we handle the monthly
the same way?  When do we plan to phase the monthly out?  Have Phillip manage
the perm and waha basis until I return.

Dale is also working on the Baja and Redwood on/off system spreads.  We can
roll these out for all terms as well.

See you this week.

Grigsby


can't make it.  i am saving money for vegas next week.