Randy,
I can certainly participate in your Tuesday morning meetings (and I can
appreciate the time constraints under which Andrea is working!).  I believe
that Lynn will defer to Rick's participation.  Please let me know if there is
a call in number.  I think that I will be able to keep you updated through
your meetings.  My need for meeting with Lynn and Brent stems from the fact
that we are "offshore" Brazil and need to communicate regularly to keep the
fires burning.
Have a great weekend!  I just got back from my vacation - I went to L.A. -
and the weather was extraordinary.  So was the food.  I'm looking forward to
Sao Paulo.  Will see you soon.  Sara

Randy Young@ENRON_DEVELOPMENT
10/13/99 06:59 AM
To: Sara Shackleton@ENRON_DEVELOPMENT
cc: Brent Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert H
George/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: S. Cone Trading Issues-Request

Sara,

Given the deal pressure we expect in the last quarter of 99,especially in
origination, I am trying to eliminate as many duplicative meetings as
possible.  Instead of having Andrea Bertone attend this weekly meeting, could
you and Lynn Aven attend my legal staff meeting (along with Brent Hendry and
Rick Hopkinson, who are already scheduled to attend) each week? They are held
on Tuesdays at 10:00 am SP time. That way, we can get a direct report from
you with a synthesized summary of the issues.  If you need to consult with
Andrea, Robert or me on an offline basis, you can let us know in the meeting,
and we will arrange a separate call. I believe this would be more efficient.

Thanks, and please let me know,

Regards,
Randy

---------------------- Forwarded by Randy Young/ENRON_DEVELOPMENT on 10/13/99
09:33 AM ---------------------------

Andrea Bertone
10/13/99 08:33 AM
To: Randy Young/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Re: S. Cone Trading Issues

OK. I'll do it.

Randy Young
10/12/99 02:17 PM
To: Andrea Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: S. Cone Trading Issues

Can you try to make this?  Hopefully, it will not take up much time.  I would
want to get a summary download of issues from you in our weekly meetings.
Thanks, ry
---------------------- Forwarded by Randy Young/ENRON_DEVELOPMENT on 10/12/99
02:17 PM ---------------------------

Sara Shackleton@ECT
10/12/99 12:09 PM
To: Lynn Aven/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Bertone/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick
Hopkinson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Mark E Taylor/HOU/ECT@ECT, Randy
Young/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: S. Cone Trading Issues

In an effort to establish regular communication on the progress of trading
issues (primarily related legal and tax perspectives)  in the S. Cone, Lynn
and I have agreed to conference on Friday, October 15 at 9 am (Houston time)
and weekly at that time.  Would anyone else like to participate this Friday?
If you are interested in participating on a weekly basis, are Fridays at 9 am
(Houston time) convenient for you?  My immediate concerns are financial
trading issues.  However, we can focus on all relevant issues as we so
determine.  I will create a "short list" to initiate discussion.  Thanks.
Sara


fyi.
 -----Original Message-----
From: 	CustomerNotices, WGPHOU [mailto:WGPHOU.CustomerNotices@Williams.com]
Sent:	Wednesday, October 10, 2001 2:51 PM
Subject:	Minority/Majority Indices/September 2001

October 10, 2001

To:  Transcontinental Gas Pipe Line Corporation Customers
     and Shippers

Re:  Minority\Majority Cashout Indices - September, 2001

*****************  NONPENALTY PRICE REFERENCES  *****************

                                MAJORITY            MAJORITY
    FT       MINORITY     (<= 2.5% or 1,000 dt)    ( > 2.5% )
  ------   ------------   ---------------------   ------------
  Zone 1   $2.2638 BUY        $2.33163 SELL       $2.3850 SELL
  Zone 2    2.2769 BUY         2.30555 SELL        2.3875 SELL
  Zone 3    2.2900 BUY         2.31908 SELL        2.3900 SELL
  Zone 4    2.3028 SELL        2.28947 BUY         2.1471 BUY
  Zone 5    2.3595 SELL        2.21884 BUY         2.2008 BUY
  Zone 6    2.4054 BUY         2.50680 SELL        2.5094 SELL

                                MAJORITY            MAJORITY
    IT       MINORITY     (<= 2.5% or 1,000 dt)    ( > 2.5% )
  ------   ------------   ---------------------   ------------
  Zone 1   $2.2638 BUY        $2.33163 SELL       $2.3850 SELL
  Zone 2    2.2769 BUY         2.30555 SELL        2.3875 SELL
  Zone 3    2.2900 BUY         2.31908 SELL        2.3900 SELL
  Zone 4    2.3435 SELL        2.33017 BUY         2.1878 BUY
  Zone 5    2.5452 SELL        2.40454 BUY         2.3865 BUY
  Zone 6    2.6996 BUY         2.80100 SELL        2.8036 SELL

                                MAJORITY            MAJORITY
   FTG       MINORITY     (<= 2.5% or 1,000 dt)    ( > 2.5% )
  ------   ------------   ---------------------   ------------
  Zone 1   $2.2638 BUY  	     $2.33163 SELL       $2.3850 SELL
  Zone 2    2.2769 BUY         2.30555 SELL        2.3875 SELL
  Zone 3    2.2900 BUY         2.31908 SELL        2.3900 SELL
  Zone 4    2.3706 SELL        2.35727 BUY         2.2149 BUY
  Zone 5    2.6690 SELL        2.52834 BUY         2.5103 BUY

                                MAJORITY            MAJORITY
   FTNT      MINORITY     (<= 2.5% or 1,000 dt)    ( > 2.5% )
  ------   ------------   ---------------------   ------------
  Zone 6   $2.3025 BUY        $2.40732 SELL       $2.4100 SELL

For information concerning cashout transactions, please contact
your Customer Services representative or Casilda Vasquez at (713)
215-4504 in the Rates Department.

Stella Yu
Manager - Rate Systems
(713) 215-3381


Tom,

Once again good to hear from you.  Still no electricity or water, though
again luckily lap top battery working.  I am also surprised able to get on
line and get through.  Once electricity goes back on will probably have a
tougher time getting trhough.  A bit ironic.

Took a long walk around this morning, crossing the Galata Bridge into Old
Istanbul (my neighborhood can't be called young) and saw little evidence of
damage.  Suspect most of it in new construction areas out on the edge of
this huge metropolitan area, where conrers get cut.  This is a poor country
with a lot of folks struggling just to put the flimsiest of roofs over their
head.

Knock on wood, but think you can all rest easy.  Doesn't seem to be any fire
risk nearby, etc.  Your right about nighttime timing; was on the darkened
deck of a ship in a mighty stormy sea.  CNN says 7.8 or somthing in Izmit
(65 miles east of here)!  I'm on the top floor and had all kinds of images
going through my head, as you can imagine.

More later.  Love you too and looking forward to seeing you in October.

Mark-O

>From: <tskilling@tribune.com>
>To: markskilling@hotmail.com
>Subject: THANK GOD--It's good to hear you're all right!!!!!!!
>Date: Mon, 16 Aug 1999 22:28:45 -0500
>
>
>
>
>______________________________ Forward Header
>__________________________________
>Subject: THANK GOD--It's good to hear you're all right!!!!!!!
>Author:  Tom Skilling at WGNTV-ENG
>Date:    8/16/99 10:28 PM
>
>
>      Mark----
>          Thanks!!! Message received.  Thank God you're OK and thanks for
>      getting to me so quickly.  Read the message to Dad and Mom who are
>      getting on line to get your e-mail.  I see you copied them.
>          I really thought we might not hear from you for a while.  It will
>      be interesting to see if lines of communication remain open.
>         Latest wire story here says 10 dead--though reports are early.
>      They're saying the U.S. Earthquake information service put the quake
>      at 7.3 and news reports are claiming its chaos in some areas there.
>      Take care of yourself and keep in touch with us as you can, Mark.
>      We love you and thank you for thinking to check with us so quickly.
>      You've put our minds at ease--though I can't imagine what state that
>      city is in or the extent of troubles to follow.  The thing that
>really
>      scared me was the fact it hit so early in the morning.  That must
>have
>      been frightening.
>          I love you Mark.  Keep in touch!
>
>                                     Tom
>
>
>______________________________ Reply Separator
>_________________________________
>Subject: Re: earthquake---are you all right?
>Author:  "Mark Skilling" <markskilling@hotmail.com> at Internet_TCO
>Date:    8/16/99 8:12 PM
>
>
>Just got on line.  Surprised it was possible.  Electricity out, so probably
>only us with battery powered lap tops clogging things up.
>
>Everything ok here, so far.  Got a pretty good shake.  Was out in the
>streets for a couple of hours, with everyone else.  My neighborhood up on
>solid rock, so things looked mostly ok.  Lots of old and bad construction
>here; stones in the street.  One upper floor (abandoned) apartment half a
>block from here collapsed and much debris in the stereets.  No apparent
>injuries, however, in my neighborhood.  Unfortunately, other areas not so
>lucky.  Saw 6.7 estimate for Izmit, the center, here (one place I passed
>had
>a genertor and had a tv out for everyone to see).  Passed women praying,
>men
>reading Koran, most just huddled in groups talking. Strange being in the
>middle of it all with limited ability to communicate.  Know a few folks in
>neighborhood and we had a few basic chats, though its amazing how much I
>learned even from them.  Already knew the Turkish word for earthquake,
>which
>is depram (revolution is devrim) and came in handy.
>
>A few seagulls just went by and I think a neighbor down stairs up and
>about;
>mistook that comotion for an aftershock.  A little rattled myself; much
>like
>after SF quake.  I think memory of that still deep seeded in my
>subconscious.
>
>Again, this new technology amazes.  Better get off and save my battery.
>May
>need it.
>
>Thanks for the note.  It was good to see your messages there.  I'll send
>this to the rest of the family, but if they call tell them I'm ok and
>worried about them worrying about me.
>
>Love,
>
>Mark
>
>
>
> >From: <tskilling@tribune.com>
> >To: "Mark Skilling" <markskilling@hotmail.com>
> >Subject: Re: earthquake---are you all right?
> >Date: Mon, 16 Aug 1999 21:55:16 -0500
> >
> >      Mark--
> >          Have just received word of the earthquake there.  Reports are
> >      preliminary but they are reporting it hit just after 3AM your time
> >and
> >      that buildings have collapsed and there are deaths--though they
> >      haven't said how many.  It's being estimated at 7.1.
> >          I've called Mom and Dad---clearly, Mark, we're very concerned.
> >      Let us know you're all right.
> >          Have been meaning to get to you to say hello. Hvae been
>following
> >      your e-mails.
> >          We're told phone lines are out--so haven't any idea when this
> >      might get to you. Please let us know you're all right.
> >          Thanks Mark.
> >
> >                                        Love,
> >                                       Tom
> >
>
>
>______________________________________________________
>Get Your Private, Free Email at http://www.hotmail.com
>

______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com


You have received this email because you are listed as a security approver. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000034385&Page=Approval to review and act upon this request.

Request ID          : 000000000034385
Request Create Date : 5/11/01 1:09:27 PM
Requested For       : scott.goodell@enron.com
Resource Name       : ICE - External Intercontinental Exchange US Natural Gas
Resource Type       : Applications


To:   SVMG CEO's and Principle Officers, Energy Committee members and
Liaison Representatives:

Looks like we dodged this bullet.

Great Job!  Keep up the great work.

Have a GREAT 4TH!

Based on information we have just received we are on the verge of a Stage
III alert with a shortfall of several hundred megawatts.  Please apply
aggressive load curtailment strategies to see if we can avoid outages
scheduled for Block 1.  www.caiso.com.

You may find further information on conservation tips and incentive programs
at http://www.svmg.org/epowerpages/home.htm.

Thanks for doing your part.

Justin Bradley
Director of Energy Programs
SVMG

Turn off PCs, monitors, printers, and copiers when not in use or not needed.
If you cannot turn off the entire computer, turn off the monitor and the
printer.
Disable the screensaver on your monitor, and enable the power management
tool on your PC.
Turn off lights in unoccupied rooms, and "half-dim" lights in occupied
rooms.
Send documents via email instead of fax.
Remove excess lights. Many older office and warehouse buildings have more
lighting then needed. In many areas, half the light may be sufficient to
light the area. When removing excess fluorescent tubes, remember to
disconnect the ballasts that serve them.
In the winter, keep draperies and shades on south-facing windows open to
allow sunlight to enter your home; and close them at night to reduce the
chill from cold windows.
For cell phone users, charge your phone using a car adapter that hooks into
the cigarette lighter, instead of using the charger that plugs into a wall
outlet.
Retrofit incandescent light bulbs with energy efficient compact fluorescent
(CFL) light bulbs. Seventy percent of what comes off the 100-watt bulb is
heat, not light.
If possible, avoid using major household appliances (washer, dryer and oven)
during the peak periods of energy demand.
Install a clock thermostat. You can program it to keep the temperature
automatically set to 68 degrees or less when the house is occupied and,
health permitting, 55 degrees or off at night.
Turn down the water heater temperature to the "warm" setting or about 120
degrees, and try to avoid wasting hot water.
Use cold-water wash cycle for more loads of laundry.
An electric toothbrush does not need to be plugged in all the time, and will
remain charged for days after being unplugged.
Connect your PC, monitor, fax machine and computer "peripherals" to one
power strip, and then turn off that power strip when not in use and every
night.
Install separate switches for smaller areas. Often in large buildings,
dozens of lights are controlled by a single switch, and not all of them need
to be on. These lights can be rewired into smaller groups of lights on
independent switches. This way only those that are needed can be turned on.
Make sure warm-air registers, baseboard heaters, and radiators are not
blocked by furniture, carpeting, or drapes.
Switch off the "drying" cycle on your dishwasher.
Line dry your clothes instead of using a clothes dryer.
Reduce heating costs by closing a door to an unoccupied room or area that is
isolated from the rest of the office or house.
Dust off light bulbs. Dirty, greasy, smoky light bulbs can reduce light
output by as much as 10 percent. You,ll avoid the tendency of switching to a
stronger bulb, which will use more energy.
Maintain the right temperature in your refrigerator and freezer.
Refrigerators can use up to 20% of the total electricity in your home. The
refrigerator should be set between 38F (3C) and 42F (6C). The freezer
should be set between 0F (-31C) and 5F (-26C).
Clean the condenser coils at least twice a year. Dust and pet hair can build
up and cause the refrigerator motor to work harder. The coils are located on
the bottom or the backside of most models.
Take a shower instead of a bath. The average bath uses twice as much hot
water as a five-minute shower.
Fax and copy only when really necessary. Sometimes we take advantage of
these common luxuries, but there was a day when we didn,t have them. If you
must make copies, make all you need in one batch, then turn the machine off
if you know it won,t be needed again soon.
Open freight doors only when needed. When trucks are actively being loaded
or unloaded, leave the doors open. As soon as the job is done, close the
doors to conserve energy.
Take the stairs; instead of the elevator. You,ll save energy and get a
little exercise to boot.
Turn your heater(s) down when you're using your fireplace, and don't forget
to close the damper when you're not using the fireplace.
Replace incandescent bulbs with fluorescent lamps, and save on approximately
30-38 percent of your lighting costs
Always wash full loads in the dishwasher and air-dry dishes on the "energy
saver" setting.
Shorten the pumping cycle on your outdoor pool and shift it to off-peak
demand times.
Enter and exit quickly. Every time an exterior door opens, a large amount of
heat escapes, and cold air replaces it. Open outside doors as little as
possible, and when you do, do so quickly. You also can use this as an excuse
to send door-to-door solicitors on their way.
Switch off instant water heater in kitchen sink.
Circulate heated air. Since warm air rises, it tends to be trapped in the
highest areas of your home. A ceiling or portable fan running at a very low
speed can help distribute warm air more evenly and reduce the desire to turn
the heat up.
Use task lighting. If you,re working diligently at a desk or workbench,
other light in the room could be turned off or dimmed.
Defrost food in the refrigerator. Instead of defrosting food on the counter
where it may spoil, or in the microwave where it will use extra energy,
place it in the refrigerator 24 hours before you need it. This will help
keep the temperature down in the refrigerator while it thaws.
Use microwaves for most cooking. A microwave does small and medium cooking
jobs more efficiently than an oven or range top. Follow a recipe for
suggested cooking time and don,t cook foods longer than needed.


Dave heard back from Terry Spencer of OneOk today that OneOk has changed its position on a couple of key issues.  First, Terry indicated that OneOk now agrees that the arbitration award is not limited in effect to just the past period.  They agree that the award interprets the measurement agreement, and that the interpretation is not limited to just the retroactive effect.  It is not clear how broad they think the prospective effect of the award is, but any change is significant on this issue.  Second, Terry indicated that OneOk is very likely to ask for a special test of the meters as a way of resolving the April-May issue, and, implicitly, the issue of whether the meters are OK going forward. This is also a big change, as OneOk has refused to call a special test since the initial demand letter we sent them last Fall.

Spencer indicated OneOk was drafting a letter that would clarify their position.  In light of that, and of the apparent progress Dave made, Stan has agreed we should hold off on the demand letter until we see their letter.  Once Dave gets it, we'll all take a look and decide the next step.  Thanks.  DF


FYI,

I bot 30 lots/month of propane from Adam May-Sept at 51 cents, also I bot
30/month May -Sept Nat gas from Arnold, and a couple of contracts/mo of socal
basis to close the position out.  Please get the fill from arnold for gas,
and make sure it shows up in my position
report.  thanks.

Jeff


Try to grab me today on this stuff.

John


Karen O'Day
EnronOnline
713-345-4135

 -----Original Message-----
From:  Moran, Tom
Sent: Friday, June 01, 2001 10:17 AM
To: O'day, Karen; Lebrocq, Wendi
Cc: Meredith, Kevin; Clark, Claudia
Subject: RE: Amendment Request

DONE !

tm

 -----Original Message-----
From:  O'day, Karen
Sent: Friday, June 01, 2001 9:55 AM
To: Moran, Tom; Lebrocq, Wendi
Cc: Meredith, Kevin; Clark, Claudia
Subject: Amendment Request

Please review Occidental Energy Maketing Inc. for execute to US Gas Phy Fwd
Firm 1 Mo. Restricted.  They currently have read.

Thank you,

Karen O'Day
EnronOnline
713-345-4135


FYI
---------------------- Forwarded by Phillip M Love/HOU/ECT on 02/13/2001
03:14 PM ---------------------------

Dawn C Kenne
02/13/2001 02:35 PM
To: Phillip M Love/HOU/ECT@ECT
cc: Tara Sweitzer/HOU/ECT@ECT, Chris Walker/HOU/ECT@ECT, Robert B
Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON
Subject: Re: Gas Daily Index Mapping

Phillip,

Andy Lewis is setting up a new gas daily index and I need to map the correct
indexes in EOL.  I am assuming for IF GD/D NGPL MidCont, it needs to be
mapped as IF-NGPL/MIDCON and I need the GDP index for NGPL/MIDCON.  Can you
please let me know at your earliest convenience?

Thanks,
Dawn

Chris Walker
02/13/2001 02:10 PM
To: Dawn C Kenne/HOU/ECT@ECT, Tara Sweitzer/HOU/ECT@ECT
cc: Robert B Cass/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Kevin
Meredith/Corp/Enron@ENRON

Subject: Gas Daily Index Mapping

Dawn and Tara,

Could you please map in TEST the new gas daily index product requested by
Andy Lewis.  The short name is IF GD/D NGPL MidCont (product #11181).  Let me
know if you need additional information.

Chris W.


Larry,

 Just a note to touch base on the sagewood townhomes and other development
opportunities.

 I stumbled across some other duplexes for sale on the same street. that were
built by Reagan Lehmann.  22 Units were sold for
 around $2 million. ($182,000/duplex).  I spoke to Reagan and he indicated
that he had more units under construction that would be
 available in the 180's.  Are the units he is selling significantly different
from yours?  He mentioned some of the units are the 1308 floor
 plan.  My bid of 2.7 million is almost $193,000/duplex.

 As far as being an investor in a new project, I am still very interested.

 Call or email with your thoughts.

Phillip


I have nothing working with them!

	Tana Jones
	07/13/2000 04:26 PM

		 To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Stacy E
Dickson/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT,
David Portz/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications
		 cc:
		 Subject: Allegheny Energy

One of the online team is looking for someone from Legal who is working with
(read "holding up things with") the Allegheny Energy people right now.  Any
of you got anything going on?


Pipe  Zone   Intramonth  Mid   Gas Daily

TGT  Zone 1 Markets        IF-TGT/Z1  IF-TGT/Z1  GDP-TGT/Z1

Regina Perkins
07/28/2000 01:01 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Curve for Zone 1 Market

I would like to know what curve would you like setup for Zone 1 Market.
Although you told me on the phone, I need documentation.

 Pipe  Zone   Intramonth  Mid   Gas Daily

 TGT  Zone 1 Markets         ???   ???       ???

Currently available:

 TGT  - Zone 0 FT Pool   IF - TGT/ZSL  IF - TGT/ZSL  GDP - TGT/ZSL
  Zone 0 FT Pool
  Zone 0 IT Pool
  Zone 0 Points
  Zone 1 FT Pool
  Zone 1 IT Pool
  Zone 1 Points

These zones have the same mapping on TGT.  Would you like Zone 1 Markets
mapped the same way?  Please respond soon because I am leaving at 2:00 PM
today and I will be out of the office next week (39222).

Chao!


To:	Rybarski, Amanda; Moore, Kevin G.; Hogan, Irena D.; Bates, Kimberly; Villarreal, Alexandra; Presas, Jessica; Young, Becky; Vuittonet, Laura; Quezada, Daniel
Cc:	Hardy, Kimberly; Panos, Jason; Hernandez, Jesus A
Subject:

Please forward to your groups

There is only 1 week left before moving into the new building.  There are two shredco containers located at EB3206E and in the freight elevator for documents that need shredding.  Also there will be a couple of large trash containers located on the 32nd floor today 11/2/01 and next Friday 11/9/01.   Please start the cleanup process.

Remember:

1.  You can only move 6 boxes per person plus equipment
2.  Take home all IPAQ'S, Blackberry's, Palm Pilots and Laptops Friday 11/9/01 so that nothing is misplaced
3.  If you have a cellular phone charger on your desk....don't forget to pack
4.  Clean out all Voicemails by 5:00 PM on Friday 11/9/01
5.  The new Enron Building will be closed to all until 5:00 AM on Monday Morning.  If you try to come up here, you will not be allowed in the     	building.
6.  Please give your User ID and Password to your assistant so she/he can make sure that everything is up and running for you on Monday 	morning.
7.  If you have a headset, please pack it.   They will not be installed until Monday morning.
8.  Since there are no amtels moving, please be sure you have MSN messenger installed in your computer because this is what your assistant 	will use to give you your
     messages. If you do not have it, your assistant can help you install it.
9.  Please label your PC, Boxes (on the ends), and cradles, scanners, etc.  You will have a new mouse and keyboard in the new building and your 	monitors will have speakers on them so you don't have

If you have any other questions or concerns, please let me know.

Many thanks!
Ina Rangel
Administrative Coordinator
Enron North America
713-853-7257 Voice
713-646-3604 Fax


FYI
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/15/2000 05:55
PM ---------------------------

Christi L Nicolay@ECT
06/15/2000 05:41 PM
To: Kay Mann/Corp/Enron@Enron, Heather Kroll/HOU/ECT@ECT, Ozzie
Pagan/HOU/ECT@ECT, Jeffrey M Keenan/HOU/ECT@ECT, Tom Chapman/HOU/ECT@ECT
cc:

Subject: Re: VEPCO PPA

Several thoughts from federal reg./transmission side:
I haven't worked with a VEPCO interconnection agreement yet, but many times
there are requirements that the generator is required to provide emergency
power to the interconnected transmission provider, in which case you would
want the interconnection agreement to cover all costs you would incur to
replace the energy at a different location (usually it is difficult to get
this agreement, so you should check and then factor that into the equation).
I would be happy to look at the interconnection agreement with you.
Interconnection of generation is a separate process from requesting
transmission.  It appears that VEPCO has to buy the transmission (or use its
network transmission) when the Delivery Point is the plant.  Enron will have
to purchase transmission on VEPCO if it is selling to third parties off the
plant and will have to purchase transmission on other systems if it wants to
supply at an alternate delivery point.  Please discuss this with Kevin
Presto's tranmission people (Bill Rust on 31).  Enron cannot use VEPCO's
network transmission to delivery to third parties.
Is this plant in the VEPCO queue yet?  Also, FERC has issued some recent
rulings that deal with time limits on system impact studies, etc.  While
VEPCO is probably incentivized to get this built, you want to make sure that
you do not lose optionality in selling to third parties from the plant due to
transmission constraints.  A request for transmission on OASIS is the only
way to ensure deliverability to third parties.
3.5 (c) Intra-day scheduling--You may have hourly transmission risk for an
increase.  Unless you buy longer term firm, you will deliver from other
sources using hourly non-firm, which is the lowest priority of transmission
and subject to getting cut.  You may want to consider doing this on
best/reasonable efforts basis.  (Also, even if you purchase
daily/monthly/yearly firm to serve third parties, if you change the point of
receipt or point of delivery temporarily, your request is treated as
non-firm.)
12.4--Currently VEPCO is interested in joining the Alliance ISO (an RTO that
has not been approved by FERC yet--competing ISO to Midwest ISO), but since
FERC has not approved any RTO for VEPCO yet, there could be significant
changes in the transmission charges/methods of obtaining
transmission/grandfathering of current transmission, etc during this
contract.  Make sure with the ENA attorneys that this out/increase in price
covers that circumstance.
Underlying tranmission rates on VEPCO or any other provider can change at
most any time, subject to the provider filing a rate case.  Therefore, any
current transmission rates shown on OASIS are not necessarily what you will
pay over the term of any transmission that Enron may purchase to serve this
contract.  Generally, transmission providers will not agree to fixed rates.

Tom Chapman
06/13/2000 06:07 PM
To: Christi L Nicolay/HOU/ECT@ECT
cc:
Subject: VEPCO PPA

Christi--

This is the note that I received on Tuesday June 13.  This is a relatively
early draft of the PPA.

I think that we still have to purchase the land associated with the sites and
do the due diligence on the site with regards to some of the siting issues.
IN addition, in NC we are going to get a CPCN to site the plant to speed up
the regulatory process in the NCUC.  I think that this will make the issue
less contentious because of the NCUC's acceptance of the Dynegy plant at
Rockingham that had a PPA with Duke Power.

Using the Dynegy plant as a guideline, their only stumbling block was their
gas agreeement.  They built a bypass off Transco.  We would be taking gas
from the LDC of Rocky Mount.  Having talked with the regulatory folks at the
NCUC who handle gas issues, this is the preferred route.  So, I do not think
that we have any major state issues.  I think that right now we are simply
working on some of the siting issues.

That being said, I will let you take a look at the PPA and let me know or
Jeff Keenan (or even Heather Kroll or Ozzie Pagan) if you think that there
are some transmission issues or other issues on the federal level.

Thanks.

Tom
---------------------- Forwarded by Tom Chapman/HOU/ECT on 06/13/2000 06:04
PM ---------------------------

Linda J Simmons
06/13/2000 08:45 AM
To: Kay Mann/Corp/Enron@Enron, Heather Kroll/HOU/ECT@ECT, Ozzie
Pagan/HOU/ECT@ECT, Jeffrey M Keenan/HOU/ECT@ECT, Tom Chapman/HOU/ECT@ECT
cc:
Subject: VEPCO PPA

----- Forwarded by Linda J Simmons/HOU/ECT on 06/13/2000 08:44 AM -----

	"Nancy Wodka" <nwodka@bracepatt.com>
	06/12/2000 04:20 PM

		 To: <linda.j.simmons@enron.com>, <lisa.mellencamp@enron.com>
		 cc: "William Frederking" <wfrederking@bracepatt.com>
		 Subject: VEPCO PPA

Lisa:  Attached is a draft of the Power Purchase Agreement with VEPCO, based
on the current version of the term sheet.  In preparing the draft, we did
encounter several additional questions for Enron's consideration.  These are
noted with brackets and, in some cases, italicized notes, in the draft and
are also highlighted below.  You may want to address these issues before this
goes to VEPCO.

Cover and first page-- Should the party to the agreement (for the moment) be
ENA or a special purpose company?

Definitions--  We included a defined term "Emergency Start-Up" (a start up or
increase in energy scheduled during a day) and a place in Exhibit A to
include a price for this, although this was not covered in the term sheet.

Section 2.2--  We included a provision for VEPCO to take test energy (energy
charge only; no demand charge)--do you want this?

Section 2.3--  This was taken from the term sheet, but is it correct that COD
will be July 1 (since the demand charge is supposed to start June 1?)  Also,
it would be best to define "commencement of construction" to avoid
controversy down the road.  We could either do this now or put in a
placeholder that indicates it needs to be defined or be silent, whichever is
your preference.  Also, bear in mind that we have not included a specific
remedy (e.g., liquidated damages) if the Seller does not achieve that
milestone on time.  Under the default provision (Section 8.1(c)), there would
be a 30 day period to cure before Buyer could terminate (extendible to 90
days if a longer period of time is needed and Seller diligently pursues the
cure).  Would you prefer the right to pay ld's and extend the time period?

Section 3.1(b)--  Should the 1400 hour limitation apply to all sales under
this PPA or only sales from the Facility?  I.e., would you use this Agreement
to sell to VEPCO power in addition to what would be available from the
Facility?  Also, is this a calendar year limitation--i.e., could they take
1400 hours in the period June-Dec. 2001 or does the 1400 hours need to be
pro-rated for the first year?

Section 3.4-- Since this is not a base load plant, the normal definition of
Availability as the number of hours in a year of operations compared to the
total hours in the year would not seem to be applicable.  Instead, we stated
that the Facility would be capable of being available 92% of the year (other
than due to Force Majeure and 336 hours (2 weeks) of scheduled
maintenance)--i.e., that if they tried to schedule it, it is expected to be
available.  Is that what Enron intended?  Additionally, the term sheet stated
that a remedy for failure to meet Availability would need to be agreed--why
wouldn't cost of cover damages be appropriate? Also, please note that we
included language stating that Seller will not perform maintenance during
peak periods.

Section 3.5(b)-- Please note the bracketed language re taking Blocks of
Energy.  We have 50 MW minimum blocks but the capacity is 223--should we
allow the last Block to be 23 if they've scheduled all the rest?

Section 3.5(c)-- Please see the bracketed language at the end of this Section.

Section 4.7-- Should there a required minimum take of Energy?

Article 6-- The Genco/Santee Cooper form of PPA we used as a model did not
have any provisions on metering.  (See placeholder note in Article 6.)  Do
you want to add such a provision, ignore it or just include a placeholder for
now?

Section 9.1-- Is 30 days from invoice correct for the payment due date or
would you prefer a shorter period?

Article 15-- The Genco/Santee Cooper form had mediation as a required step
prior to arbitration.  Should we keep that?  Also, the form of arbitration is
"baseball" arbitration--i.e.,  the arbitrators have to chose one party's
position or the other's.  Is that what you want?

Section 16.2--  We used New York for governing law, on the premise that it
will be difficult to get VEPCO to agree to Texas law and we would not
recommend Virginia law for this contract.

Exhibit A-- There are a number of questions on the pricing exhibit--please
see the bracketed notes therein.

Please call and let us know how you would like to proceed on this draft.

 - VEPPPA.DOC


FYI
---------------------- Forwarded by Gerald Nemec/HOU/ECT on 12/08/99 01:13 PM
---------------------------

Melissa Hughes <MHUGHES@HOLLANDHART.COM> on 12/08/99 12:25:10 PM
To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: Mortgage

Gerald - I received the mortgage today, and we'll take care of gettting it
filed - But I wanted to let you know that I'm not in the Jackson office, I'm
in the Cheyenne office.  My correct mailing address is:

Melissa Hughes
Holland & Hart
2515 Warren Ave., Suite 450
Cheyenne, WY  82001
307-778-4231
307-778-8175 (fax)
mhughes@hollandhart.com

Terry Buffington is also in the Cheyenne office.

Thanks - Melissa


Sitara Reporting system  will be down this weekend from 11.45AM Saturday to 8AM Sunday.As soon as system is up I will let you all know.
thanks
Krishna
Ex 35216


Hey there!

What time did you make it into work this morning?  Did you get in any traffic
going home.  I always come back opposite of traffic and didn't know if you
have any problems!

Anyway, just wanted to say hello and say thanks for coming over last night!
Hope you were able to sleep soundly!


Vicki --

Along with everything else, this bill continues to be discussed.  We don't think this is a high probability, but wanted you to be aware (and more importantly, this is California).  I'll keep you up to date.

Jim

 -----Original Message-----
From: 	"Scott Govenar" <sgovenar@govadv.com>@ENRON [mailto:IMCEANOTES-+22Scott+20Govenar+22+20+3Csgovenar+40govadv+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, August 27, 2001 5:50 PM
To:	Rick Shapiro; Steffes, James D.; Kaufman, Paul; Jeff Dasovich; Kingerski, Harry; Lawner, Leslie; Susan J Mara; Hedy Govenar; Bev Hansen; Mike Day
Subject:	SBX2 1 - Windfall Profits

SBX2 1 (Soto/Scott) Senator Soto offered extensive amendments to the bill
immediately prior to today's hearing.  Because the staff did not have time
to review the amendments the bill was held over until Thursday.  Some of the
amendments remove municipal utilities, self cogeneration and QFs from the
provisions of the bill.


Is this a  1 month deal?  Do you want to adjust the price for gathering &
transport?

Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


Rose/Cheryl,

Your call.

Kay

"Taylor, Rob" <robtaylor@akllp.com> on 12/07/2000 04:45:49 PM
To: <Kay.Mann@enron.com>, "Thompson, Peter J." <peterthompson@akllp.com>,
"Cobb, Chris" <chriscobb@akllp.com>, <lee.johnson@ss.ps.ge.com>,
<kent.shoemaker@ae.ge.com>
cc: <Cheryl.Lipshutz@enron.com>, <Roseann.Engeldorf@enron.com>,
<Brett.R.Wiggs@enron.com>, <Ben.Jacoby@enron.com>

Subject: RE: ESA facility agreement - close to execution version

Please advise as to whether the current version should be forwarded to
Winston & Strawn for their sign-off (since they are familiar with the
existing GE Contract, their review should be perfunctory).

Thanks,

Rob

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Thursday, December 07, 2000 4:42 PM
To: Thompson, Peter J.; Cobb, Chris; lee.johnson@ss.ps.ge.com;
kent.shoemaker@ae.ge.com
Cc: Cheryl.Lipshutz@enron.com; Roseann.Engeldorf@enron.com;
Brett.R.Wiggs@enron.com; Ben.Jacoby@enron.com; Taylor, Rob
Subject: ESA facility agreement - close to execution version

The first facility agreement which needs to be finished is the ESA
Facility
Agreement.  Peter and/or Chris, could you please send/re-send the most
recent version with a email stating any open issues, copying everyone on
this email.  We need to get this one ready to sign tomorrow, if at all
possible.

My understanding of the commercial deal is that the scope should include
change order #3, with 75% of the value of change order #3 payable on or
before Dec. 27, 2000, and 25% of change order #3 being added to the
January, 2000 payment.

Kent/Lee, sorry I didn't mention this in our phone call this afternoon.
That's what happens when I'm not working from my list.

Thanks,

Kay


pls print asap.  thanks. DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 02/09/2000
08:21 AM ---------------------------

	From:  Susan Scott                           02/08/2000 11:08 AM

To: Drew Fossum@ENRON, Keith Petersen/ET&S/Enron@ENRON, Mary Kay
Miller/ET&S/Enron@ENRON, Donna Martens/ET&S/Enron@ENRON, fkelly@gbmdc.com,
sstojic@gbmdc.com
cc:

Subject: Gallup compliance filing

Here is a draft of the compliance filing regarding our operational control
agreement with ECS.  Please let me know your comments by C.O.B. tomorrow.  At
this point I'm not planning to file the agreement, just a report as requested
by the Commission.

I'm still working with ECS to finalize the agreement.  Their attorney is
checking with his resident experts to make sure ECS, by expressly giving TW
Operational Control, does not somehow cross the line into retail wheeling.  I
do not expect the agreement to change significantly.


Dianne, Peggy - Peter and Greg are having a call with Tana Jones tomorrow
morning at 10:30 a.m. to discuss Tana's agenda for her trip here in March.
If you are able to participate in the call, please join them in Peter's
office.

Thanks,
Sharon


Alicia and Trina:
Here are my thoughts on the latest drafts of the swap docs:

Put Confirm

1. Looks like some type of price protection mechanism is contemplated in the
Master Derivatives Agreement and I'm assuming it would go into this confirm
2. In the definitions of ISDA and Equity Definitions, please add amendments
and supplements

Harrier/Talon Schedule

1. We need to discuss footnotes 2, 3, 6, 9, 12, 13
2. I think that the mechanics for putting up the LC that is described in the
Additional Termination Event that was added as clause (iv) needs to be
drafted somewhere to address, for example, drawing conditions, what happens
when Enron's credit rating improves, the comment made in footnote 6 etc.

3. In Part 4, Section (a) and in all of the notice sections the notice that
goes to the AGC of the Trading Group goes to Enron North America Corp. not
Enron Corp.
4. In Part 5, Section (l)(Recording) please add after the word "parties" the
phrase "in connection with the Transactions hereunder."
5. In Part 5, Section (o) (Confidentiality), is the class of permitted
discloses in clause (iv) too broad?

Talon/Enron Schedule

1. In Part 1, Section (h) should a carve out from the definition of
Identified Event be the new Termination Event that was added?
2. Why is Part 5, Section (n) in this Schedule?
3. Same comments as above

Master Derivatives Agreement

1. Is the defined term Net Premiums worded right for purposes of the
$400,000,000 limitation?  For some reason, I'm thinking that a and b should
be reversed.

Talon Note

1. In Section 3.2, I'm not sure that the reference in the second paragraph to
Part 5(m)(i) of the Enron Schedule applies since the setoff rights only
benefit Enron and its affiliates.  Also,  what does it mean to refer to the
Enron Guaranty here?

Enron Guaranty

1. In Section 4, I think that it is fair for them to request that setoff only
apply to the Guaranteed Agreements and unless I'm missing something, I think
we can give on that point.

That's all that I have.  Have you discussed with Ben the point that we talked
about last week concerning the difference between the calculation of "Net
Talon Loss" versus "Loss"?

I'm available tomorrow to talk about these points.
Carol


I am able to get you 3 bottles of CSR today if you want them.

Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante"


For some reason your name did not get picked up.
Peggy
---------------------- Forwarded by Peggy Mahoney/HOU/EES on 04/28/2001 05:24
PM ---------------------------

Peggy Mahoney
04/28/2001 05:23 PM
To: Mark Koenig/Corp/Enron@ENRON, Paula Rieker/Enron@EnronXGate, Elizabeth
Ivers/Enron@EnronXGate
cc: Karen Denne/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON
Subject: RE: University of California/California State University

FYI.  I will forward draft media responses (win or lose) either Sunday night
or Monday
morning.  A win would mean we do not have to continue the process of
returning the
campuses to our service -  as the judge ordered us to do.  A loss would mean
that we
must continue returning the campuses to our service and therefore we would
once again
be responsible for buying the campuses' power on the open market.   In either
case,
we maintain the right to continue the appeal process, and legal will decide
whether or
not it is appropriate to continue that process after the appeals court
decision.

Legal does not expect to hear the ruling until Tuesday morning, but there is
a chance we
could hear something Monday afternoon.

Peggy

t---------------------- Forwarded by Peggy Mahoney/HOU/EES on 04/28/2001
05:07 PM ---------------------------
From: Robert C Williams/ENRON@enronXgate on 04/27/2001 03:12 PM
To: Robert C Williams/ENRON@enronXgate, James Derrick/ENRON@enronXgate, Mark
E Haedicke/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, David W
Delainey/HOU/EES@EES, Dan Leff/HOU/EES@EES, Peggy Mahoney/HOU/EES@EES, Marty
Sunde/HOU/EES@EES, Greg Whalley/HOU/ECT@ECT
cc: Vicki Sharp/HOU/EES@EES
Subject: RE: University of California/California State University

Correction:  the time of the argument is 1:00 CST.

 -----Original Message-----
From:  Williams, Robert C.
Sent: Friday, April 27, 2001 2:56 PM
To: Derrick Jr., James; Haedicke, Mark; Sanders, Richard; Delainey, David;
Leff, Dan; Mahoney, Peggy; Sunde, Marty; Whalley, Greg
Cc: Sharp, Vicki
Subject: University of California/California State University

The Ninth Circuit Court of Appeals has scheduled an oral argument on Monday
12:00 CST on our request for a stay of the district court's order granting
the Universities' motion for a preliminary injunction.  The argument will be
by telephone, and will be heard by a three-judge panel.  Mike Smith, Dennis
Benevides, and I will be with counsel during the argument.  Please contact me
with any questions (ext. 646-6412; cell 281-414-0364).


Jeff,

I understand you spoke to Jacques Craig about the consent and assignment documents.  Maybe the attorneys can work this out faster than we have.

I spoke to the city this morning and the final bills are to be mailed out today.  So I should have an amount on Wednesday.  I will email and fax the amount and the supporting bills as soon as possible.  Maybe we can close out the release this week and consent to the assignment pending 1st lien holder approval.

I have a favor to ask you.  I received the check from Pauline that was due May 20th.  However, I have misplaced it.  Can you ask her to put a stop on her 1st check and send me another (net of any costs for the stop payment).   If you would prefer for me to call her myself, I will.  It seems that communicating through you is working well.

Thanks for all your help.

Phillip


http://www.valleyair.org/busind/plans/Appendex_D_96_ROP.pdf

The website above has the link to the list of ERCs that are part of the approved attainment plan.

If it is pre-1990, and could be used under the new rule, it will be on this list.

If it is not on this list, we would need to contact the Northern regional office to inquire into its history.  If it is post 1990 it would be part of the baseline and would also work -- so we need to know the date.

In the case of the certificate you mention, it is not on the list, so we would need to contact the regional office to find out its status.

The main number for the office is 209 557-6400.  Jim Swaney is the manager -- but an engineer might be able to look it up quickly.  Or we could fax the request to 209-557-6475.  While EPA says that this type of request is fairly rare, it is not unusual.

Please let me know if you need further help on this.

-Lisa

 -----Original Message-----
From: 	Taylor, Michael E
Sent:	Thursday, August 16, 2001 4:12 PM
To:	Jacobson, Lisa
Subject:	VOC ERC

certificate number: N140-1 Cranbrook Associates

Michael Taylor
Coal and Emissions Trading
Enron Global Markets
(713) 853-1885


fyi
----- Forwarded by Peter Bray/HOU/NewPower on 02/06/01 01:38 PM -----

	"Medeiros, Mike" <MMedeiros@SiliconEnergy.com>

	02/06/01 11:31 AM
		? ? ? ?
		? ? ? ? To: ? ? ? ?"Dale Murdock (E-mail)" <dmurdock@e-lectrade.com>, "'Ali'"
<amiremadi@caiso.com>, "'Altree'" <lja2@pge.com>, "'BrayatWork'"
<pbray@newpower.com>, "'BWoertz'" <bwoertz@caiso.com>, "'ByronatWork'"
<mgby@dynegy.com>, "'CCollins'" <ccollins@southwesternpower.com>, "'DFuller'"
<dfuller@caiso.com>, "'DTimson'" <dtimson@caiso.com>, "'Frihart'"
<bcfrihart4@aol.com>, "'Geno'" <gowens3@txu.com>, "'GeorgeW'"
<gwaideli@enron.com>, "'JeffJacobs'" <jjef@chevron.com>, "'JGoodin'"
<jgoodin@caiso.com>, "'LeoR'" <radkowsk@jm.com>, "'NapaMan'"
<miwc@chevron.com>, "'RandyM'" <randy.mcadam@safeway.com>, "'ScottM'"
<scott_moore@albertsons.com>
		? ? ? ? cc: ? ? ? ?
		? ? ? ? Subject: ? ? ? ?FW: ENRON in Businesssweek 2/12/01 issue

?
-----Original Message-----
From: Gallegos, Kristine
Sent: Monday, February 05, 2001 4:35 PM
To: Medeiros, Mike; Miller, Eric; Carter, Mark; Schurr, Allan; Schaefer,
Steve; Ricard, Ron; Foster, Tony
Subject: ENRON in Businesssweek 2/12/01 issue

BUSINESSWEEK ONLINE : FEBRUARY 12, 2001 ISSUE
?
?
?

COVER STORY
?
Enron's Power Play
Enron, the nation's largest energy merchant, won't let California stand in its
way
?
On this cold January day in Houston, Enron (ENE) President Jeffrey K. Skilling
could easily play the pirate that California consumer groups are casting him
as
these days. After two weeks of sailing with his three children in the Virgin
Islands, Skilling's face is slightly sunburned, and he sports a rakish
post-vacation
beard. But the CEO-elect isn't buying the buccaneer image that some have
slapped on his company. He clearly thinks Californians should be thanking
Enron, not castigating it, for its role in trying to push open the state's
power
markets. ''We're on the side of angels,'' he says. ''We're taking on the
entrenched monopolies. In every business we've been in, we're the good
guys.''
?
Alas, the nation's largest energy merchant is garnering no such accolades from
California's great deregulation experiment. Soaring power prices have pushed
the state's utilities to the brink of bankruptcy and forced Third World-style
blackouts across the world's sixth-largest economy. Enron and other
electricity
marketers and generators are being investigated by the state attorney general
and sued by consumers amid accusations of profiteering and market
manipulation. ''Every trading company in the country has been feasting on
California, and Enron is the shrewdest of them all. They are like sharks in a
feeding frenzy,'' says Michael Shames, executive director of the Utility
Consumers' Action Network in San Diego. Enron, an early critic of California's
deregulation plan, hotly denies those charges.
?
FRICTIONLESS? The glaring spotlight on California's botched attempt at
deregulation casts Enron in the uncomfortable role of defending its radical
business model. Though often grouped with utilities, Enron produces little
power
itself and owns relatively little in the way of hard assets. Instead it has
pioneered
the financialization of energy, making the company more akin to Goldman Sachs
(GS) than Consolidated Edison (ED). Its impressive profits stream is squeezed
out of a torrent of often low-margin trades, in which it buys and sells a
dazzling
variety of contracts. The more buyers and sellers, the better for Enron,
which is
now twice the size of its nearest competitor.
?
Enron executives paint this as nothing less than a holy war on inefficiency.
When
the power giants are busted up, scrappy Enron believes it can thrive by
delivering just the products and services particular customers want most. And
they're thinking way beyond just energy. Skilling, a former McKinsey & Co.
director (page 80), is now applying the model to a slew of new markets,
including data storage, steel, even advertising space. He believes the company
can thrive as a market maker. ''Whether it's Enron or not is almost
irrelevant,''
says Skilling. ''It's going to happen.''
?
For now, though, California's crisis has abruptly slammed the brakes on
efforts
to deregulate U.S. retail electricity sales, which are under way in nearly 25
other
states. Moreover, that mess may prove to be the death knell for industry hopes
that retail deregulation would spread far beyond the 20% of U.S. businesses
and homeowners who now can name their own electricity supplier.
''Deregulation has lost a lot of momentum,'' says Kemm C. Farney,
vice-president for electric power at consulting firm WEFA Inc. ''It's hard to
argue that this has resulted in lower bills.'' Even in overseas markets, where
Enron is counting on huge future gains, supporters are watching nervously. Big
utilities, particularly in the south of Europe, ''want to use California to
slow
down liberalization,'' says Jan van Aken, secretary general of the European
Federation of Energy Traders.
?
It's not hard to see why. Sure, the old regulated system was expensive, but at
least we knew the lights would turn on when we flipped the switch. However,
Skilling and others argue that the battle in California has obscured the
reasons
for pushing deregulation in the first place. The old utilities, he says,
''were
incredibly expensive and provided horrible service to their customers.'' Under
the regulated model where utilities could simply pass on costs to customers,
they lacked incentives to utilize capacity more efficiently or to offer
innovative
services. In California, for instance, business leaders pushed for
deregulation
because they were paying 50% more for power than their counterparts in other
parts of the country. At the same time, the utilities themselves were
operating
high-cost plants with little access to capital to fix their problems, says
Farney.
The upside of deregulation? ''We have a tremendous amount of new
construction. It's a direct result of the industry having new access to
capital
markets,'' he says.
?
One of the biggest problems now is that the nation is in a muddled state
between regulation and deregulation. For instance, freezing retail prices for
consumers and businesses in California while deregulating the wholesale market
where utilities shop left the power companies unable to cover their
skyrocketing
energy costs and pushed them near the brink of financial collapse. Paul W.
MacAvoy, a professor at the Yale School of Management, compares that to
the blunder that regulators made in the 1970s with the savings and loan
industry.
The S&Ls were restricted to investing in long-term assets, like mortgages,
while
paying volatile market rates on shorter-term deposits. ''There's a widespread
opinion in the academic world that regulation is bad, but partial and
phased-in
deregulation is much worse,'' says MacAvoy.
?
Skilling argues that Enron's exposure to fallout from California is minimal.
Its
biggest business is in the wholesale market, serving utilities and big
industrial
customers who under federal law already have the right to choose their
electricity suppliers. And wholesale markets in Europe and Japan are rapidly
opening their doors. That explains why most observers believe that Enron will
emerge with its earnings engine intact. ''We do not expect the California
situation to have any significant impact on Enron's financial outlook,'' says
Skilling, who is set to take over the CEO title from Enron Chairman and CEO
Kenneth L. Lay on Feb. 12. In the fourth quarter, Enron's core wholesale
trading and services business reported income of $777 million before interest
and taxes, nearly triple that of a year earlier. Enron's total net income
excluding
nonrecurring items shot up 32% for all of last year, to $1.27 billion, on
sales of
$100.8 billion, up 150%. Physical volumes of gas and electricity delivered
jumped 59%, boosted in part by EnronOnline, the company's year-old
Web-based trading operation.
?
POWERFUL ALLIES. Under a new Republican Administration and a
President with strong ties to Lay (page 78), Washington isn't likely to derail
deregulation. If anything, Enron will be using the crisis to push for more
favorable federal rules for moving electricity from state to state, which
could
boost its flexibility and trading options. Certainly, Curt L. Hebert, the new
chairman of the Federal Energy Regulatory Commission (FERC), is a
free-market advocate friendly to Enron's views. ''I don't think California is
going
to be any lesson that stops America from wanting choice. It's going to be a
lesson that allows America to learn what not to do,'' he says.
?
Still, Skilling and Lay will have to spend precious time and energy on a
deregulation battle that Enron seemed well on its way to winning. Already,
Oregon, Arkansas, and Nevada are considering a slowdown in their
deregulation plans, while northeastern states have put in place wholesale
price
caps. Some Western governors want Congress to force regional price caps on
the wholesale electricity market. And Representative Peter A. DeFazio
(D-Ore.) is ready to introduce an ''energy re-regulation'' bill that would
overturn
the 1992 U.S. Energy Policy Act. ''Electricity is not a commodity fit for the
competitive marketplace. Private investors don't have public safety in mind,''
says Doug Heller, consumer advocate with the Foundation for Taxpayer &
Consumer Rights in Santa Monica, Calif., which is pushing for a referendum to
have California take over much of the power system.
?
If that kind of radical sentiment spreads beyond the California border, Enron
could find its growth prospects, even in the $220 billion wholesale market,
sharply curtailed. And it would surely be bad news for Enron's latest effort
to
crack the retail market: a separately owned company formed last May with
then-America Online Inc. (AOL) and IBM (IBM) called the New Power Co.
Enron tried four years ago to enter the residential market in California but
quickly backed out when it found the state's new rules wouldn't let it turn a
profit.
?
The hyperconfident Skilling is unrepentant about his company's long role as a
deregulation crusader. Enron benefits from volatility, not high prices, he
says. In
California, where Enron doesn't own power plants, the company insists it is
dealing in thin margins. ''Depending how markets are swinging around day to
day, we're either making a little money or losing a little money on that,''
says
Lay, although he won't break out specific figures for California. If
anything, says
analyst Donato J. Eassey of Merrill Lynch & Co., operating margins are getting
thinner--in the entire wholesale business they were 2.4% last year, vs. 3.7%
in
'99 and 3.6% in '98. That's O.K., says Eassey: ''I'll take that margin
pressure
with a 72% earnings growth rate on that [wholesale] business.''
?
In its gleaming Houston office tower, Enron has seven floors of some 1,500
traders making markets in gas, electricity, metals, bandwidth, and other
products. Enron, for example, posts prices for an array of energy contracts.
With the click of a mouse, utilities caught short on supply can make a deal.
Likewise, generators with excess capacity can find prices Enron is willing to
pay. Enron pockets a spread on the deal. The traders are supported by a
back-office team that schedules pipeline and transmission capacity to actually
deliver gas and electricity, checks credit, and handles billing. Each desk of
two
or three traders used to handle about 100 transactions a day when doing their
business by phone. Now a desk handles 800 to 900, mostly on EnronOnline.
?
Enron's success has not gone unnoticed, but it has a few advantages that
competitors would be hard pressed to match. First is its expertise; it
pioneered
the model. It has dozens of PhDs in mathematics, physics, and other
disciplines,
and even hired a former shuttle astronaut to schedule satellite time. Enron
also
has built a huge network of buyers and sellers with a wide range of
commodities
to trade. With its deep pockets Enron has plenty of capital to keep its
markets
liquid.
?
A big part of the value Enron provides is helping companies manage risk,
especially the risk of big price swings or delivery snafus. One example: In
1999,
Peoples Gas, Light & Coke Co. of Chicago, a local distribution company,
signed a five-year gas procurement deal with Enron. Enron took over Peoples'
scheduling of gas pipelines and storage, assets that Enron then could use to
meet commitments for a broad array of other customers. In the meantime, it
procures gas daily as Peoples needs it, provides working capital, handles
accounts receivable and payable, manages storage, and finances the gas in
storage. ''This is our distinctive competence--bringing the whole thing to the
table,'' says Skilling. ''No one's our equal in that.'' And Enron has
pioneered
contracts to manage other kinds of risk too, including weather.
?
Enron's deregulation roots reach back to the early '70s, when Lay, an
economist by training, began promoting opening gas markets as an Under
Secretary of the Interior in the Nixon Administration. In 1986, Lay took over
Enron, the product of a merger between two pipeline companies. He warned
federal regulators that pipelines like his were in danger of sinking under
rules
that crippled their ability to compete with low-priced oil. The FERC finally
changed the rules starting in 1985, freeing utilities to shop for gas and the
pipelines to search for customers. Enron embraced the changes with gusto,
rapidly becoming the largest buyer and seller of gas in North America. It then
pushed just as aggressively to open wholesale and retail electricity markets,
to
the chagrin of the nation's entrenched utilities. In Ohio, it offered
consumers
coupons for free electricity to build political support for deregulation. In
California, it fielded an army of regulatory attorneys to battle the state's
utilities
over the rules of engagement.
?
SERIOUS FLAWS. The seeds of California's energy debacle were planted
long before deregulation set in, though. Thanks to environmental concerns,
poor
planning, and uncertainty about the rules of deregulation, California's power
supply in recent years has been growing far slower than demand, which was
driven by an expanding population and its increasing use of energy-sucking
technology. The badly flawed 1996 deregulation scheme--some terms of which
Enron and others fought from the start--only exacerbated the problems. It
included a pricing system that prevented utilities from locking in long-term
supplies at fixed prices and from passing on higher fuel costs to customers.
Without rising prices, consumers had no incentive to reduce demand and
utilities
couldn't pay their soaring wholesale power bills. That scared away some power
suppliers and created the financial crisis from which the state is still
trying to dig
out.
?
By now there is nearly universal agreement that the biggest flaw in
California's
deregulation plan was the decision to force utilities to buy all of their
power
needs one day in advance from a newly formed entity called the California
Power Exchange. The theory was that the exchange would provide the most
transparent prices, since every buyer and seller had to operate through it.
Whatever power didn't get bought through the exchange would be purchased
on a last-minute basis the following day by another entity called the
Independent
System Operator (ISO).
?
But many observers believe this two-step setup encouraged generators to offer
less power to the exchange and instead to wait until the last minute to sell
power
to the ISO, which out of desperation would have to pay higher prices. In three
lawsuits, consumer groups, municipal water districts, and the City of San
Francisco allege that Enron and other electricity marketers engaged in
unlawful
market manipulation. Several investigations so far have failed to prove
collusion
by Enron or others. But one study said that the soaring prices couldn't be
explained by such factors as high demand and rising fuel and environmental
costs. ''We concluded that power was being withheld inexplicably, at the exact
time at which prices were most vulnerable to manipulation,'' says Edward Kahn
of the Analysis Group/Economics, a co-author of one study backed by the
parent of utility Southern California Edison. Adds co-author Paul L. Joskow, a
professor of economics at Massachusetts Institute of Technology: ''It was bad
regulation, bad market design, bad luck, and greed.''
?
NOT ROLLING OVER. Enron dismisses the study as flawed and slanted to
favor the utility that paid for it. Meanwhile, the attorney general's office,
state
Public Utility Commission, and FERC are all continuing to investigate.
California's current plans to fix the problem involve the state becoming the
lead
buyer, through long-term contracts that take the uncertainty out of pricing.
The
Power Exchange is being phased out. Enron applauds that move. And even
some of the hardest-hit power users in California haven't given up on
deregulation. California Steel Industries Inc., a Fontana (Calif.)-based steel
producer, lost power 14 times in January, costing it millions of dollars. Yet
Lourenco Goncalves, its president and CEO, is not advocating a return to
regulation: ''Deregulation is a good idea,'' he says. ''We just need to treat
this
like a business and fix what went wrong.''
?
The energy crisis comes just as Enron is vigorously pushing its promise of
efficiency and lower prices into a slew of new commodities. ''Look at pulp and
paper. Look at all those salesmen who play golf all day. For a commodity, for
crying out loud. You don't need to play golf to sell a commodity,'' blurts
Skilling
in his typically blunt style. In these new arenas, Enron won't face the kind
of
regulatory obstacles it must eliminate in energy. But it's no wonder that many
players will resist what they see as an arrogant and menacing middleman. The
California experience gives them new ammunition. Enron and other traders
''sure as hell haven't done a very good job of protecting the American public
from the rising price of natural gas or electricity. I don't see that they
bring any
real value to the steel marketplace,'' says Daniel R. DiMicco, CEO of Nucor
Corp. (NUE), one of the nation's leading steelmakers.
?
In one of his first big bets outside of the energy patch, Skilling is
attacking the
telecommunications industry. In the past year, Enron has spent nearly $500
million to create its own high-speed fiber network. But the goal is not to be
a
traditional telecom player. Instead, Enron wants to create a vast spot market
for
high-speed communications capacity, and ultimately a futures market. Consider
its deal with Blockbuster Inc. (VIA) The two signed a 20-year pact for Enron
to deliver movies-on-demand to Blockbuster customers, a service that's now in
four test markets. Instead of having to build its own network and coordinate a
multitude of agreements with local high-speed communications providers,
Blockbuster turned the whole thing over to Enron. It pays Enron per movie,
getting only the capacity it needs, when it needs it. For now, those movies
are
moving mostly on Enron's 13,500-mile fiber network. But as a robust market
for trading bandwidth develops, Enron could pluck the capacity it needs from
other communications companies. It may even sell its fiber network when it no
longer needs the physical capacity to ensure delivery to its customers. ''The
minute I don't need it, it's gone,'' says Skilling.
?
Indeed, Enron's new CEO has already demonstrated that he doesn't linger over
troubled assets. To help fund its vast ambitions, Enron expects to shed more
than $2 billion in plants and other properties around the world this year,
including a gas production plant in India and a wind-power company in
California. In the fourth quarter, the company took a $326 million aftertax
charge to cover problems at Azurix Corp. (AZX), its failed water business
that's likely to be busted up. Under Skilling, Enron is essentially
abandoning its
once-ambitious plan to build power plants, pipelines, and other facilities
around
the globe.
?
Now, Enron will build assets where they clearly support the trading
operations,
including places like Spain and Japan. Rival energy marketer and producer
Dynegy Inc. (DYN) of Houston questions just how competitive Enron can be
without a significant physical presence in its new commodities ''to give you
that
incremental intelligence,'' says CEO Chuck Watson. Without that, ''you don't
really have a competitive advantage.'' But investors don't seem worried.
Indeed,
Enron's stock is up about 175% in the past two years. ''One thing about Enron
is they're incredibly well managed, very smart, and entrepreneurial,'' says
portfolio manager Robert L. Shoss of shareholder AIM Capital Management
Inc. ''They've proven they deserve the benefit of the doubt.''
?
As Enron gets bigger, maintaining its entrepreneurial culture and stiff
risk-management controls will surely prove a bigger challenge. And more
competition from strong rivals, like Dynegy, means ''a lot of the margins are
going to go away,'' says one utility analyst. ''Early entrants get generous
margins
that attract other competitors.'' One of the biggest risks is that Enron
simply
can't create the open markets it needs. California stands as a stark reminder
of
that. If the state goes back to a ''cost-of-service'' utility model, where
utilities
simply pass through their costs to consumers, ''that would cause us trouble,''
says Skilling.
?
But Skilling and other industry players don't think that's likely to happen,
as
other states such as Pennsylvania prove their deregulation models can work.
Indeed, some believe that the nation's muddled effort to move toward
deregulation is the best of all worlds for Enron. ''If the market were really
open
and very, very efficient, there isn't a lot of need for these trading
intermediaries,''
says Lawrence J. Makovich, a senior director of electric power research for
Cambridge Energy Research Associates. Luckily for Skilling and Enron, that's
one vision that's likely to remain a pipe dream for some time.
?
By Wendy Zellner in Houston, with Christopher Palmeri in Los Angeles,
Peter Coy in New York, and Laura Cohn in Washington, D.C.
?
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
?
BACK TO TOP
?
?
?
?
?

? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? RELATED ITEMS
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Enron's Power
Play
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?COVER IMAGE:
Power
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Broker
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?CHART: Enron
Taps Volatile
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Energy
Markets...To
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Dominate Power
Sales...
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?TABLE: The
Enron Way
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?TABLE: Is
There Anything
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? They Can't
Trade?
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?Enron's Big
Wheel Has a
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Heavy Tread
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?Derring-Do in
the Corner
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Office
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?RESUME:
Jeffrey K.
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Skilling
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?Commentary:
Enron Hasn't
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Made Many
Friends in the
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Third World
(int'l edition)
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?ONLINE EXTRA:
Q&A with
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Enron's
Skilling
?
?
?
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ?INTERACT
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? E-Mail to
Business Week
? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Online
?
?
?

Copyright 2000-2001, by The McGraw-Hill Companies Inc. All rights reserved.
? ? ? ? ? ? Terms of Use ? Privacy Policy
?

?
Kristine Gallegos
Marketing Analyst
Competitive & Strategic Analysis
Silicon Energy
(510) 263-2772
?


Lisa,

I am now catching up with some old emails (I've been out of the country for
quite some time).  What is the status on this.  What  got approved and how
much?  Do we still need more for Ted?

Mike McConnell


515365

broker has 54.05

thanks


Let me talk to Stan when he gets back to town.    Lou and I need to discuss with him, and we are a little occupied with the credit agreement stuff.

 -----Original Message-----
From: 	Ratner, Michael
Sent:	Tuesday, November 13, 2001 9:05 AM
To:	Hayslett, Rod
Subject:	RE: Kayenta Event in December.

Should Gabriel and I go ahead and make our plans to go out there?

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Tuesday, November 13, 2001 8:42 AM
To:	Ratner, Michael
Subject:	RE: Kayenta Event in December.

We will propose to Stan and see where we are at that time.    If it was this week, the answer would probably be no.

 -----Original Message-----
From: 	Ratner, Michael
Sent:	Monday, November 12, 2001 4:38 PM
To:	Hayslett, Rod
Cc:	Chavez, Gabriel
Subject:	Kayenta Event in December.

In light of the recent events, can we still attend the event at the Kayenta Boys & Girls Club?  This is the event that Senator McCain my be at and that we will be invited to make some remarks.  Lou also mentioned that it might be something for Stan to go to.

What do you think?

Cheers,

Michael


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From: Westlaw@westgroup.com
Message-Id: <200105171905.OAA20558@lethbridge.westlaw.com>
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(C) 2001 West Group. Copyright is not claimed as to any part of the original
work prepared by a U.S. government officer or employee as part of that
person's official duties. All rights reserved. Use of the Westlaw data
delivered to your e-mail address is governed by the Westlaw Subscriber
Agreement or such other agreement as may govern your use of Westlaw data .

 - Westlaw_Document_14_05_05_336.doc
 - Summary_14_05_04_336.doc


Sara:
Please coordinate with Kaye on this.  She has access to my schedule.  I think
that she set something up alraedy with you, me Brent and Paul.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	Sara Shackleton
	04/19/01 04:37 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: hedge fund "meeting"

Carol:

Regarding a "hedge fund meeting" next week, I have spoken with most of the
likely participants and everyone is eager to meet next week.  I'll fill you
in on details in person.  I think the following people should attend:

Fred Lagrasta
Caroline Abramo
Robyn Zivic
Russell Dyk
you
Brent
me

I believe that we have a mushrooming "process" issue.  I also believe that
the credit group is part of the problem (we should have a separate discussion
with Paul to discuss potential hedge fund credit issues - maybe there are
none and maybe our legal choices are unimportant to credit).  My observations
are that all hedge funds need not be "last minute" deals, Caroline can be our
ally and needs to learn our documents and credit needs to advise legal
sooner.  I have asked Caroline to prepare a list of all funds she is
currently working with, has already discussed with Paul or is considering.

Afternoon is best.  Shall I schedule or have you already begun?

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


There will be two presentations tomorrow from UBS commencing at 2:30 p.m. (CST).  These will be held in ECS 06980 and the conference dial-in numbers are listed below.

				2:30 p.m.	Bill Glass & Bill Bradford - Credit
				3:00 p.m.	Alex Fusco - New Business Guidelines

Dial-in #		800.486.2726
Host code	353763 (Louise)
Participant	547763

Many Thanks,

Liz Taylor
Assistant to Greg Whalley
713.853.1935 office
713.853.1838 fax
713.854.3056 mobile


Here are the Aquila questions - partially answered. If your not sending out
tonight, I need to verify the $48,000 and clean up the answer for #4.
Ben


I thought about putting free jeans on the subject header to get your
attention but I am not at the point that I am willing to bribe you all
(yet).  As I finish up my last semester at Haas, I am determined to get
the 1st and 2nd year students involved--to help carry on some of the
programs that the EvMBA board has supported over the past few years. One
of the most valuable and fun experiences I have had over the past three
years at Haas has been being able to make a difference through my
involvement on the EvMBAA board.

You ask, what does the board do?  In addition to supporting and
organizing social events (Back to School Party, Wine Trip, Raiders game,
etc.), the board supports the Career Center Roundtable (thanks Albert)
and other activities such as this year's Elective Scoop Night (more
details to follow.)

Seven out of the ten board members have finished the program in December
or will finish the program this semester, so it is time for you to get
involved (or Albert Demery and Alessandro Ratti will have to carry the
entire load!) The following positions are currently open or will be in
the next few months. I urge you to get involved now so that we can have
some overlap between outgoing and incoming board members.

President (Dawn Taketa, May '01)
VP Communications (Thera Kaljmin, May '01)
VP Finance (Todd Wells, May '01)
Social Co-Chair (open)
Social Co-Chair (open)
Corporate Outreach (Christine Piesco, May '01)
Day Program Liaison (open)
Student Advisory Committee Chairperson (Mike Plumb, May '01)

Attached are the descriptions of each position and the responsibilities
for each. How much of a time commitment will you need to make?  At
minimum, it is about 6-8 hours per months (a little higher for the
President and SAC Chairperson positions)--but with all the great ideas
that I am sure all of you have, it can be as much time as you want to
put into it.

If you are interested in applying, please send me an email with a couple
of paragraphs stating which position you are interested in and why you
want to get involved/what you would like to accomplish in the position.

Thanks.
Dawn Taketa
EvMBAA President

 - EMBAA Board Descriptions.doc


What's the latest date I can purchase my ticket?

 -----Original Message-----
From: 	Hogan, Irena D.
Sent:	Monday, October 29, 2001 10:52 AM
To:	Mims, Patrice L.
Subject:	Flight Prices

Continental has a price of $297.17(non-refundable) for the following roundtrip flights:
Depart Houston, Nov. 8
1:40 PM - 4:08 PM
Depart Chicago, Nov. 11
11:05 AM - 1:38 PM

United has a price of $259.12 (non-refundable) for the following roundtrip flights:
Depart Houston, Nov. 8
12:50 PM - 3:15 PM or 2:40 PM - 5:02 PM
Depart Chicago, Nov. 11
10:35 AM - 1:11 PM

Let me know what you decide.

Thank you,

Irena Hogan
Sr. Administrative Assistant
Enron Americas
(713) 853-6143


Done - take a look.

Gloria G Barkowsky
01/12/2000 07:05 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: CNG/Sabine 12/99

Deal #99663 - Thanks - gb

Chris Germany
01/12/2000 06:58 PM
To: Gloria G Barkowsky/HOU/ECT@ECT
cc:
Subject: CNG/Sabine 12/99

Email works good.  Do you know which deal I should put that on?
---------------------- Forwarded by Chris Germany/HOU/ECT on 01/12/2000 06:57
PM ---------------------------

Gloria G Barkowsky
01/12/2000 04:27 PM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: CNG/Sabine 12/99

Hi!  Remember last month changing the rate in sitara so the
discounts could be taken....well, I need it done for 12/99 now.
The total volumes for CNG/Sabine for 12/99 are
7,676,198 and we should be paying $13,298.60 for at rate of .00172794.
Let me know if you need more information, or copies, or whatever.  And
does emailing this work ok, or what would work best to update this every
month?  Let me know.  Thanks, Gloria.  How are you?


thursday/friday work.  wednesday is bad.


What do you want for him - I am willing to talk something with M. Robinson in
it

Something like Westbrook and Taylor for Robinson and Garner?


Hi there,

I think a good next step while the counterparties are reviewing the docs is
the creation of a closing checklist, since we have a good starting point with
the Intergen closing list.  We can get organized on putting together a
package of the next traunche of docs, such as the parent guaranty, escrow
agreement, etc.

Thanks,

Kay

PS.  You might want to check the docs I sent out to Jake to make sure I
didn't put a Panda in a Delta doc.  I checked, but I need to be double
checked.  Another good reason to use XYZ's until the finalist is selected.


---------------------- Forwarded by Sarah Novosel/Corp/Enron on 01/08/2001
10:37 AM ---------------------------

"Ronald Carroll" <rcarroll@bracepatt.com> on 01/05/2001 12:33:53 PM
To: <gfergus@brobeck.com>, <rreilley@coral-energy.com>, <acomnes@enron.com>,
<dfulton@enron.com>, <jhartso@enron.com>, <jsteffe@enron.com>,
<mary.hain@enron.com>, <rsanders@enron.com>, <rshapiro@enron.com>,
<smara@enron.com>, <snovose@enron.com>, <mday@gmssr.com>, <gackerman@wptf.org>
cc: "Andrea Settanni" <asettanni@bracepatt.com>, "Cindy Engelbrecht"
<cengelbrecht@bracepatt.com>, "Charles Shoneman" <cshoneman@bracepatt.com>,
"Jeffrey Watkiss" <dwatkiss@bracepatt.com>, "Nancy Pickover"
<npickover@bracepatt.com>, "Paul Fox" <pfox@bracepatt.com>, "Tracey Bradley"
<tbradley@bracepatt.com>

Subject: SCE Writ of Mandamus DENIED

The DC Circuit just issued a one page order denying SCE's motion for a Writ
of Mandamus as well as its alternative request that the court direct FERC to
act on rehearing of the Dec. 15, 2000 order by Jan. 17.  The court instead
stated that it "anticipated that the Commission will rule on the rehearing
petition in a timely manner."

I've asked my secretary to fax a copy of the order to you.  Let me know if
you do not receive one soon.  Ron


Checking with Jeff Richter on these - give me one minute to get a call back.

Kerri Thompson@ENRON
02/14/2001 01:29 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: apb

523212
523213

broker has 50 mws on both


Let's make sure she gets an offer.  Thanks.  Jeff

Vince J Kaminski
01/23/2001 01:23 PM
To: Kristin Gandy/NA/Enron@Enron
cc: Jeffrey A Shankman/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
Subject: FW: Wharton Resume Submission - Summer Intern

Kristin.

Kim is a member of the Tiger Team. She is interested in a summer
internship with Enron and I shall be glad to take her.

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/23/2001
01:24 PM ---------------------------

"Kim Whitsel" <Kimberly.Whitsel.wg02@wharton.upenn.edu> on 01/22/2001
12:07:35 AM
To: <Christie.Patrick@enron.com>, <Vince.J.Kaminski@enron.com>
cc:
Subject: FW: Wharton Resume Submission

-----Original Message-----
From: Kim Whitsel [mailto:Kimberly.Whitsel.wg02@wharton.upenn.edu]
Sent: Friday, December 22, 2000 6:51 PM
To: kristin.gandy@enron.com
Subject: Wharton Resume Submission

Summer Position under Wharton Schedule #1823
 - Kim Whitsel -Enron Cover Letter.doc
 - Kim Whitsel- Wharton2 resume.doc


Nelson,

I fully agree. They are free to donate as much as they want to charity as they wish,
but it does not have to be through Enron.

Vince

 -----Original Message-----
From: 	Neale, Nelson
Sent:	Monday, August 13, 2001 1:32 PM
To:	Kaminski, Vince J
Subject:	United Way and Interns

Vince,

I have had several requests from interns who are interested in giving to the United Way campaign.  Personally, I am of the opinion that the campaign drive really does not pertain to the summer folks and that they should keep their money.  While I have appreciated their efforts/thoughtfulness in this regard, it doesn't seem appropriate for them to pledge given a) the amount of money they're making over the 3 month period and b) the time of service to the company.  I'll be happy to suggest otherwise to them if you think that it is appropriate.

Nelson


Brian,  Attached is a draft of the termination letter.  The letter assumes
the letter agreement was executed.  There also appears to be an agency
agreement which appointed Merrick as agent for ROW acquisition.  This is also
terminated by the letter.  I haven't heard from Shonnie yet.  Please review
and add any comments you have.  Thanks


Can we get together at 10:45 a.m. tomorrow (Wednesday) in room 3267?  Let me know if this will work for you.

Thanks,
Kristen


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This email was sent to: dfarmer@ect.enron.com
 - att1.htm


I extended the rental on the apartment until the 20th of November.

Shirley

Vince J Kaminski
10/30/2000 01:31 PM
To: Shirley Crenshaw/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Houston trip

Shirley,

I hope it's OK with the apartment company.

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/30/2000
01:38 PM ---------------------------

	Enron Capital & Trade Resources Corp. - Europe

	From:  Sharad Agnihotri                           10/30/2000 11:40 AM

To: Paulo Issler/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Houston trip

Hi All,

I am hoping to come to Houston from the 5th to the 17th of November.
Sorry about the short notice.

Looking forward to seeing you.

Sharad Agnihotri


for your amusement
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 03/23/2000
03:51 PM ---------------------------

SSuecooakacoops@aol.com on 03/21/2000 08:50:15 AM
To: richard.b.sanders@enron.com, michelle.cash@enron.com
cc:
Subject: Legal Assistant Position & Reference Request

Dear Richard and Michelle:

Attached to this e-mail is a copy of my resume and a cover letter that I have
forwarded to Ms. Nedre Strambler with Enron's Human Resources department in
an attempt to find a Legal Assistant position there at Enron.  As you know I
was
Carrin Patman's paralegal for several years over at Bracewell & Patterson and
I
am hoping that I might be able to use the two of you as references should I
be contacted regarding the positions I've applied for.

Richard, in the Beeson matter I see that the Supreme Court rendered a
decision in Intratex's favor regarding the necessity of a new trial if
the Plaintiffs attempt to recertify the class. As I assume you are aware, I
was the person in charge of assembling and organizing all 1200 boxes of
documents relating to the various Intratex, HPL, Atapco, Beeson and Mills
matters and assisted Carrin and Neal Manne in many of the court appearances.
I believe that this experience can be very useful if I were to work for Enron.

Michelle, even though I only had an opportunity to work on a couple of your
projects while you were at B&P, I did have an opportunity to assist you and
others at Enron with the urgent project to produce employment records to the
FTC last fall. I really enjoyed working with you and would like to do so
again.

Any assistance you can offer in this matter would be greatly appreciated.

Susan M. Cooper
8007 Portal
Houston, TX 77071
(713) 776-1624  /  (713) 988-0308
suecoo2@yahoo.com / suecoo@altavista.com

 - Enron.doc.doc


FYI.  Here's a note I sent to the large customers.  Have spoken with them since.  They are going to write a nasty letter in response to Angelides.  Also, it does not appear that the PUC can act at this meeting on the retroactivity issue--appears that due process/notice requirements prevents it.  We're double checking to make sure.

Best,
Jeff

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Monday, October 22, 2001 12:16 PM
To:	'wbooth@booth-law.com'; 'dominic.dimare@calchamber.com'; 'cra@calretailers.com'; 'ek@a-klaw.com'; 'mikahl@ka-pow.com'; 'jrredding@aol.com'; 'drothrock@cmta.net'; 'vjw@cleanpower.org'; 'djsmith@s-k-w.com'; 'dhunter@s-k-w.com'
Subject:	Angelides Oct. 19th Letter to L. Lynch Urging July 1 DA Suspension Date

I'm sure that by now everyone's seen the letter that Angelides sent to Loretta last Friday.  If you haven't, let me know and I'll have it faxed to you.  In short, Angelides blames all of the financial woes of the State on Loretta and the PUC.  Specifically, he claims that by allowing DA sign-ups to extend to September 20th, the PUC may have shifted over $8 billion to "homeowners, small businesses, and other enterprises..."  Angelides ends the lettery by urging the Commission to immediately roll back the DA suspension date to July 1.

The concern, of course, is that Angelides' assertions are out there and have received alot of press attention, i.e., Direct Access=$8 billion tax on homeowners.

To her credit, Loretta refuted Angelides in the press accounts and repeated that the best way to get costs down is to renegotiate the DWR contracts.  She also said in the press accounts that she intends to deal with the July 1/September 20 suspension issue at the next commission meeting.

In light of these events (and the increasing attacks on Loretta by Angelides and others in the Administration) It might be useful to give Loretta an assist by drafting a very brief letter to her stating:

Angelides is all wet--DA and "fairness" are not mutually exclusive and the PUC has all the regulatory tools necessary to ensure fairness is maintained going forward.  Thus, the 8 plus billion dollar number is without basis.
Re-stating that the PUC has no legal authority to retroactively suspend DA to July 1, etc., etc.

Folks may have other points to make.  Seems that we'd want to keep the letter short and to the point, however.

A letter might be useful in order to 1) give Loretta some support and 2) get some counter-press in response to the Angelides tantrum.

Any thoughts?

Best,
Jeff


Thank you, Carrie.  It printed just fine this time.  SRS

Carrie Southard @ ECT   02/07/2000 02:38 PM

To: Kenneth Lay/Corp/Enron@Enron, Jeff Skilling/Corp/Enron@ENRON, Joseph W
Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff Baxter/HOU/ECT@ECT, Kevin P
Hannon/HOU/ECT@ECT, Mark Frevert/LON/ECT@ECT, Mike McConnell/HOU/ECT@ECT, Jay
Fitzgerald/Corp/Enron@ENRON, Mark Koenig/Corp/Enron@ENRON, Mark
Palmer/Corp/Enron@ENRON, John Sherriff/LON/ECT@ECT, Steven J
Kean/HOU/EES@EES, Greg Whalley/HOU/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT,
Jeffrey A Shankman/HOU/ECT@ECT, John J Lavorato/CAL/ECT@ECT, Mark E
Haedicke/HOU/ECT@ECT, Rick Buy/HOU/ECT@ECT, Kathryn Corbally/Corp/Enron@ENRON
cc: Louise Kitchen/LON/ECT@ECT, Marcello Romano/LON/ECT@ECT, David
Forster/LON/ECT@ECT, Bob Shults/HOU/ECT@ECT, Rahil Jafry/LON/ECT@ECT, Tara
Sweitzer/HOU/ECT@ECT, Rob Bradley/Corp/Enron@ENRON, Awais Omar/LON/ECT@ECT

Subject: Management Report February 4, 2000

Sorry for the problems with printing the report. I am looking into the
problem.

Please find the summary of today's activity on EnronOnline.  The full
Management Report is attached below this executive summary

Regards,

Carrie Southard


---------------------- Forwarded by Kay Mann/Corp/Enron on 11/06/2000 07:40
PM ---------------------------

Kay Mann
11/06/2000 07:26 PM
To: Scott Healy/HOU/ECT@ECT
cc:

Subject: Re: 50 down, 25 left but it is going faster!

This doesn't have the latest from what you sent.


The following expense report is ready for approval:

Employee Name: Jerry D. Farmer
Status last changed by:  Automated Administrator
Expense Report Name: Daren Farmer
Report Total: $153.53
Amount Due Employee: $153.53

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


http://home.enron.com/subpoenas/pdfs/FERCIVApr232002.pdf

Scroll down and look at the list of names.


It appears that the following email may not have been clear.  You have to copy all documents yourself.

This is my cheat sheet if it helps:

H Drives:
1.  Each person will have to move any data over personally from the old H drive (which is now Z:) drive to their new H drive.
2. The Z: drive (old H:) will be removed from UBS employees on Thursday night.

O Drives:
1. For the old O or M drives go to O:\ESTATE\ O (or M ? pending location of data) and copy to the new common O.  The Estate O and M will be removed from UBS employees on Thursday night.

Do not delete anything and only copy information which is complies with the policy.  Please make sure that those people who are not in the office are contacted and comply.

Louise

To:		All Enron Employees Transferring to UBS Warburg Energy (or its affiliates)

Under the terms of the various agreements among certain Enron entities and UBS AG, certain Enron data and documents may be provided to UBS.  To ensure compliance with those agreements, Enron's document retention policy, as well as directives of various investigative agencies, the attached protocol regarding the process for migration of any information or data to UBS has been developed.

Please review the protocol carefully.  Then, complete the attached Certification and return it, with attachments, to Linda Guinn at EB 3829a no later than February 11, 2002.

Questions about this matter may be directed to Michelle Cash at (713) 853-6401 or Francisco Pinto-Leite at (713) 345-7942 .

Protocol Document and Data Copy Instructions

Certification Document


Cheryl Nelson will be in the office at 10 am this morning.  Thank you,

Keegan
5-3317


As you know, I will be out of the office next week.  I will have the cell
phone with me:

   011 44 7881 512 535

but unfortunately no way to recharge the thing after Sunday morning and no
guarantee that it works in the Virgin Islands.  I suggest that if you try
that number and do not get an answer that you NOT leave a message there.  It
will be much more likely to get to me if you leave it here at the office
(x37459).

There will be a cell phone on the boat, however, and I will call my assistant
in Houston (Taffy - x57373) Monday morning with the number.


FYI , looks like you did not receive this.
PL

---------------------- Forwarded by Phillip M Love/HOU/ECT on 04/30/2001
11:19 AM ---------------------------

	From:  Julie Brewer @ ENRON                           04/30/2001 10:36 AM

To: Kam Keiser/HOU/ECT@ECT, Victor Guggenheim/HOU/ECT@ECT, Phillip M
Love/HOU/ECT@ECT, Sandy Olitsky/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT,
Susan M Scott/HOU/ECT, Jeff Royed/Corp/Enron@ENRON, Anne
Bike/Corp/Enron@Enron, Errol McLaughlin/Corp/Enron@ENRON, Laura
Vargas/Corp/Enron@ENRON, Luchas Johnson/NA/Enron@Enron, Sherry
Dawson/NA/Enron@Enron, Derek Bailey/Corp/Enron@ENRON, Michelle
Nelson/Corp/Enron, Stewart Range/NA/Enron, Shifali Sharma/NA/Enron, Keynan
Dutton/NA/Enron, Carole Frank/NA/Enron@ENRON, Bruce Mills/Corp/Enron@ENRON,
Veronica Hill/NA/Enron, George Huan/NA/Enron, Amy Cavazos/NA/Enron@ENRON,
Elizabeth Shim/Corp/Enron@ENRON, Ryan O'Rourke/ENRON@enronXgate, Eric
Bass/HOU/ECT, Joel Bennett/HOU/ECT
cc: Larry Joe Hunter/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Bianca
Ornelas/NA/Enron@Enron, Richard Deming/NA/Enron@Enron, Ellen
Wallumrod/NA/Enron@ENRON, Jean Bell/HOU/ECT@ECT
Subject: Rebooks

Please rebook as indicated by Credit.

Thanks.


I will revise these for the exhibits when I am in Denver.  Do not delete.


Attached is the TW Weekly report for March 15, 2002.

Jan Moore
X53858


Vasant

Thanks for your clarification.
I understand how this can happen and I feel better for having heard from you
folks.

Rgds
DP

 -----Original Message-----
From:  Shanbhogue, Vasant
Sent: Thursday, March 08, 2001 5:33 PM
To: Port, David
Cc: Kaminski, Vince; Kindall, Kevin
Subject: Weekly report

Hi David,

  I understand that you were slightly upset over a comment Kevin Kindall made
in one of his weekly reports.  The wording was unfortunate, but the intention
was never to disparage anybody.  It is just that since Research gets data
from a large number of sources, we feel obligated to the data donor to ask
any requester for clarification of need.  I completely understand that RAC
typically has access to much sensitive information and they have a right to
know much information.  We just want to make sure there is open flow of
information (it is in everybody's best interests and the company's best
interests) and that everybody is aware of how data is flowing.

Best wishes,
 Vasant