Steve,

I am sending you a variety of charts with prices and operational detail.  If
you need to call with questions my home number is 713-463-8626.

As far as recommendations, here is a short list:

 1.  Examine LDC's incentive rate program.  Current methodology rewards sales
above monthly index without enough consideration of future
      replacement cost.  The result is that the LDC's sell gas that should be
injected into storage when daily prices run above the monthly index.
                    This creates a shortage in later months.

 2.  California has the storage capacity and pipeline capacity to meet
demand.  Investigate why it wasn't maximized operationally.
                      Specific questions should include:

  1.  Why in March '00-May '00  weren't total system receipts higher in order
to fill storage?

  2.  Why are there so many examples of OFO's on weekends that push away too
much gas from Socal's system.
       I believe Socal gas does an extremely poor job of forecasting their
own demand.  They repeatedly estimated they would receive       more gas than
their injection capablity, but injected far less.

 3.  Similar to the power market,  there is too much benchmarking to short
term prices.  Not enough forward hedging is done by the major
                    LDCs.  By design the customers are short at a floating
rate.  This market has been long historically.  It has been a buyers market
and the
     consumer has benefitted.

Call me if you need any more input.

Phillip


505434 - Killed.

505066 - Changed to APB.

505313 - Changed to APB. (505229 - Kept the same.)

Hope this all makes sense - for not trading much today these guys are
screwing up left and right!

Stephanie Piwetz   01/25/2001 01:44 PM

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

Subject: amerex so far

Kate
please look into:
Amerex brokered trade
505434.01   should be a put option   Enron Buys Powerex    225.00 strike price
6:30 am ppt expiry time

505066.01  Amerex not claiming
richter
Enron buys williams
1/26-1/27
215.00

505313.01 Amerex not claiming
crandell
Enron Buys Puget
300.00    might be a dup
only one deal done with amerex said  505229.01


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Yesterday we lost several of our valuable employees.  We appreciate their individual contributions and wish them the best.  They will be missed.

URM Group
David Porter
David Frost

San Francisco Office
Ibrahim Qureishi
Michael Wong
Victor Browner
Edith Turnipseed

Technical Analysis Group
Walter Coffer
Larry Soderquist
Mark Mullen
Mark Fillinger

IT Development Team
Lei Chen
Susmitha Nalluri

Legal Team
Steve McCarrel
Eric Merten

IT Support Team
Darryl Miles

Gov't Affairs Team
Kara Ausenhus
Jennifer Tomei

Risk Assessment & Control
Minal Dalia

Please let me know if you have any questions.

Julie Kearney


Thank you for looking into this for me.  Can you tell me for what day the variance in December is for?  Also, when do you expect to have January resolved?

Diana

 -----Original Message-----
From: 	Thompson, Virginia
Sent:	Tuesday, August 21, 2001 4:18 PM
To:	Scholtes, Diana
Subject:	SCL

Diana-

  I'll have a more definite answer tomorrow, but for now, it looks like we're current with SCL except for a variance of approx $1000 for January 2001 and $7000 for December 2000.  Hiope this helps for now.

  Virginia


I'm surprised you invited me to the class!!


----- Forwarded by Sarah Novosel/Corp/Enron on 12/27/2000 11:42 AM -----

	"Tabors, Richard" <tabors@tca-us.com>
	12/27/2000 10:39 AM

		 To: dwatkiss@bracepatt.com, snovose@enron.com
		 cc:
		 Subject: Today's Van Vactor column

Dan and Sarah

I don't know if you see Sam VanVactor's materials or not.  If not, here is a
shot from the 26th

Richard

-------------------------------------------
Copyright , 2000 Economic Insight, Inc .
EDITORIAL
S.A. VAN VACTOR
Energy Crisis Myths
Mythology has always been an important part of the
human experience and never more so than when hard
choices must be made. Thus it should come as no
surprise that our current energy crisis is accompanied by
a seemingly endless array of apologies, exaggerations,
and myths.
Far and away the most common myth concerns the
persistent view of many that suppliers are holding back
generation in order to jack up prices. Similar charges
were levied during the oil crises of the 1970s. In those
days, critics complained that tankers could be seen just
off the coast, waiting until prices rose. Holding back on
electricity sales makes even less sense because once a
moment of demand has passed, it is gone forever. No
rational supplier will turn down the price offers persisting
in the present marketplace day after day. Indeed, most
suppliers are laboring to squeeze out every electron
possible from aging and unreliable generators.
An equally common error arises when the crisis is
blamed on "deregulation" and free markets. Although
California was the first state to adopt wide-scale
consumer choice, its market has been heavily regulated
and constrained. For example, after nearly three years
of consumer choice in the retail market only 12% of the
total volume is served by entities other than traditional
utilities. The volume of direct access has actually
declined in recent months as buyers have scrambled to
reconnect to regulated utilities that offer frozen rates.
More importantly, the development of reliable forward
markets and planning was stillborn because the
California Public Utility Commission either prohibited or
limited such trading at the same time that it granted
automatic "prudency" to spot purchases. Deregulation
may have changed the nature of the crisis, from a
physical to a financial problem, but the demand and
supply fundamentals at the heart of the current energy
crises were inherited from an earlier era of regulatory
stumbles.
Officials in neighboring states are eager to blame
California for the crisis, but nothing could be further from
the truth. The Western power market is fully
interconnected by design and if one part is short, all
regions are short. In fact, every operating area
recognized that demand would occasionally exceed
supply; planners simply relied on the proposition that it
would not happen simultaneously in all regions of the
West. However, this is exactly what has happened.
The current crisis was precipitated by a scarcity of
natural gas, unexpected demand growth in California
and the Southwest, the second hottest summer on
record in the Southwest, and low water runs in Northern
California and the Pacific Northwest.
If these myths are at odds with reality, how should the
energy crisis be viewed? Famine and pestilence are
normally reserved for biblical parables, but they do play
a role in this story. The Western power market is tied to
the vast generation potential of the region's hydroelectric
system. The system's potential is not, however, always
available. Unlike hydro systems in Quebec and Brazil,
the Columbia River system has only three months worth
of water storage. (Quebec is said to have ten years of
water inventory). The difference between a drought and a
year flush with water can be as high as 6,000 average
megawatts per hour - roughly the capacity of six of the
West's nuclear generating stations. Thus, the availability
of electricity swings from abundance to scarcity in an
unpredictable pattern based on the state of the region's
rivers. In the key months of June and July this year,
hydroelectric generation from the Northwest Power Pool
averaged 4,635 megawatts per hour below that of the
favorable year of 1997.
System planners in the 1970s understood the nature of
the hydroelectric system very well and planned to add
thermal generation facilities to ensure adequate supply
even under "critical-water" conditions. These conditions
represented the worst-case scenario for hydroelectric
generation. Such planning, however, renders most
prospective thermal plants uneconomic, because they
would lay idle except under the driest of conditions. With
the collapse of the WPPSS plants, the Pacific Northwest
quietly shifted its planning criteria from critical water to
average water. In times of heavy water flow the region is
a net exporter, but during a drought, it must import
electricity.
Over the last decade, utility planning has been replaced
by a market, and not just in California. Almost all new
generators are independent power producers. In a
market, new supply will only be built if there is the
incentive to do so. That incentive takes the form of
profits, and profits arise through high prices. What no one
has thought through is the implications of the variability of
hydro-electric power on the incentive to construct thermal
generation. If new thermal generation is constructed, but
is only needed one out of every ten years, then prices in
years of drought must be extremely high in order to make
building such thermal plants attractive to investors. In
short, this is what the western power market is
experiencing this year, and will continue to experience
until water flows improve and new supplies catch up with
the region's overall economic growth.
The first step in solving a problem is to understand its
cause. While it is true that California and other Western
states have not invested sufficiently in generation
capacity and natural gas delivery systems, additional
supply is not, by itself, the answer. Politicians, planners,
and market participants alike must recognize that drought
years will produce power shortages, and they should plan
accordingly. The extremely high prices observed this last
month arise, in part, from fear that the Pacific Northwest
may be entering a cycle of cold, dry weather. So far the
reaction has been uneven and not terribly productive.
Instead of blaming suppliers or each other, the region's
leaders should implement energy conservation programs
aimed at solving a short-term, not just a long-term
problem. Publicity that explains the situation with the aim
of conservation among consumers, "buy-back" programs
for industrial and commercial customers, and other such
pricing incentives should be implemented as rapidly as
possible, before low water forces everyone into rolling
blackouts and manufacturing curtailments.
Samuel A. Van Vactor is the publisher of the Energy
Market Report, and former Head of Planning for the
Oregon Department of Energy.
The Energy Market Report welcomes unsolicited
manuscripts for possible publication. Editorials can be
sent by electronic mail only to emr@econ.com <mailto:emr@econ.com> .


OOps, please use el Paso contract 9ME4
 -----Original Message-----
From: 	Miller, Stephanie
Sent:	Monday, October 15, 2001 1:11 PM
To:	Whitt, Mark
Cc:	Nemec, Gerald
Subject:	misc info for Huber

1. copy of contract will be faxed to you ASAP

2. Reference contract no. 9ME3


Ben is ok with the extension.

Ben and I have a meeting with the accountants at 200 (just got scheduled -
got to take the apptment when we can).  I'm happy for you guys to go forward
with the call. Ben and I will join later if we finish in time.

Kay

"Keffer, John" <JKeffer@KSLAW.com> on 04/16/2001 06:17:32 PM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>, "Reuter, Marisa"
<MReuter@KSLAW.com>
cc:

Subject: RE: Northwestern

I've talked to Marguerite.  She agreed to a call tomorrow at 2 PM central.
She is sending to you and me a draft of an extension.  No need to do
anything with it tonight, but I suspect that Mike will begin calling Ben
about it in the morning.

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Monday, April 16, 2001 6:12 PM
To: mreuter@kslaw.com; jkeffer@kslaw.com
Subject: Northwestern

Hi there,

I am meeting with Ben tomorrow to discuss NWestern.  I'm fairly confident
that he will be willing to extend the letter agreement, but he hasn't
called me back today to confirm.

Ms. Kahn and I have exchanged voice mail.  Could one of you return her call
for me?  I'm tied up.  You might get an idea on some times tomorrow for a
call.  I'm booked until around 130 for anything which would last more than
a few minutes.  I'll check with Ben.

Thank you,

Kay

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


Ben,

I will be out of the office for the next couple of weeks on a honeymoon.  I
will be out until March 20th, so could you keep the deal list updated until
then?  Tina told me that you should already have access to the O:drive where
it is now listed.  You can access it at O:Corpdev/Gtg/Deals/Newlist.  I
created a new format so it will look little different.  Please let me know if
you have any questions.

Thank you,

Ben Thomason
x-58802


Attached for your reference is a memo I prepared for Sara on the referenced
subject.


I'm on flight 1536...just in case you need to know. I'll call you when I get
there. I Love you!!

--------------------------
Joanna Williams

"WorldSecure <iconus.com>" made the following
 annotations on 05/10/01 11:14:24
------------------------------------------------------------------------------
This e-mail transmission may contain confidential or legally privileged information that is intended only for the individual or entity named in the e-mail address. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution, or reliance upon the contents of this e-mail is strictly prohibited. If you have received this e-mail transmission in error, please reply to the sender, so that ICON Clinical Research can arrange for proper delivery, and then please delete the message.  Thank You.

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


From a commercial perspective, this is fine with me.  I leave it to Jim to confirm that this is acceptable from the legal perspective.
CF

-----Original Message-----
From: Annette.Spencer@ubsw.com [mailto:Annette.Spencer@ubsw.com]
Sent: Thursday, September 27, 2001 12:06 PM
To: Freeland, Clint
Cc: Nogid, Jeff; Christine.Lee@ubsw.com; Shackleton, Sara; Armogida,
Jim; Annette.Spencer@ubsw.com
Subject: RE: Equity Forward Contract

     Clint / Jim,

     Have amended the number (and added a reference to the Treasury
     office):

     "Such Non-Affected Party will use commercially reasonable
     efforts to promptly confirm the transmission of such facsimile notice
     by telephone (telephone number 1-800-973-6766, attention Enron
     Treasury Office) to the Affected Party, provided however, that failure
     to so confirm will not in anyway invalidate the effectiveness of a
     notice by facsimile transmission."

Please confirm this is now acceptable.

Any questions - don't hesitate to contact me, 203 719 5493

Regards,
Annette Spencer

______________________________ Reply Separator
_________________________________
Subject: RE: Equity Forward Contract
Author:  Clint.Freeland (Clint.Freeland@ENRON.com) at unix,mime
Date:    9/27/01 11:38 AM

Christine -
Sara is out of the office for the rest of the week, but I understand why
you guys have trouble with me specifically being listed.  Instead of my
number being put in there, can we just use the general Enron Corp phone
number (1-800-973-6766) and have UBS ask to be connected to the
Treasurer's office.  There will always be a person there to take the
call, and you will always be directed to the right person regardless of
what employee reassignments may occur between now and then.

Jim, what do you think of this?  Christine, since Sara is out, would you
please include Jim Armogida on the distribution list.  Thanks.
CF

-----Original Message-----
From: Christine.Lee@ubsw.com [mailto:Christine.Lee@ubsw.com]
Sent: Thursday, September 27, 2001 9:06 AM
To: Shackleton, Sara
Cc: Freeland, Clint; Nogid, Jeff; Annette.Spencer@ubsw.com
Subject: Equity Forward Contract

Sara,

Thank you for reviewing and returning the equity forward confirmations
so promptly.    We have reviewed the handwritten comment on page 8 of
the contract and unfortunately cannot accept the language as presented.
 Our concern is that if we are unable to get through to Clint for any
reason (either speaking to him directly or getting voice mail), the
termination notice would not be effective.

We propose to insert the following language instead:

        "Such Non-Affected Party will use commercially reasonable
efforts
to
     promptly confirm the transmission of such facsimile notice by
     telephone (telephone number 713-345-7538) to the Affected Party,
     provided however, that failure to so confirm will not in anyway
     invalidate the effectiveness of a notice by facsimile
transmission."

     (insert as the last sentence of the third paragraph under
"Additional
     Termination Event".)

Please let me know if this works for you.  If so, we will produce new
contracts with the language and send it back to you for another round
of signatures.

Please call me if you have any questions.  I apologize for any
inconvenience this may cause.

Regards,
Christine
203-719-8354

Visit our website at http://www.ubswarburg.com

This message contains confidential information and is intended only
for the individual named.  If you are not the named addressee you
should not disseminate, distribute or copy this e-mail.  Please
notify the sender immediately by e-mail if you have received this
e-mail by mistake and delete this e-mail from your system.

E-mail transmission cannot be guaranteed to be secure or error-free as
information could be intercepted, corrupted, lost, destroyed, arrive
late or incomplete, or contain viruses.  The sender therefore does not
accept liability for any errors or omissions in the contents of this
message which arise as a result of e-mail transmission.  If
verification is required please request a hard-copy version.  This
message is provided for informational purposes and should not be
construed as a solicitation or offer to buy or sell any securities or
related financial instruments.

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

Visit our website at http://www.ubswarburg.com

This message contains confidential information and is intended only
for the individual named.  If you are not the named addressee you
should not disseminate, distribute or copy this e-mail.  Please
notify the sender immediately by e-mail if you have received this
e-mail by mistake and delete this e-mail from your system.

E-mail transmission cannot be guaranteed to be secure or error-free
as information could be intercepted, corrupted, lost, destroyed,
arrive late or incomplete, or contain viruses.  The sender therefore
does not accept liability for any errors or omissions in the contents
of this message which arise as a result of e-mail transmission.  If
verification is required please request a hard-copy version.  This
message is provided for informational purposes and should not be
construed as a solicitation or offer to buy or sell any securities or
related financial instruments.


Mike:

Please send me your resume or call me. I have senior position that I would like to discuss.

Regards,

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


All,

Conference call 5pm Houston time
Call in number:
800-991-9019 USA
847-619-8039 Canada
Pass Code: 6017891

If you have difficulties accessing the conference call, please call Kim
Zachary at (713) 853-1971.


Northern Border came out with their open season today;  Let's discuss.


Attached is a contact list for Operations, giving home and cell numbers for the Head of Operations for EA, EGM, EIM, EES, EBS and EEL.  Also listed are the lead risk and settlements personnel for each business unit.  My numbers are listed as well, so feel to call me this weekend if needed.

More detailed contact lists for gas risk, power risk and settlements have been sent to Geoff Storey, as requested by Louise and John.

The IT Help desk (x31411) will be running as usual 24 hours a day.   The Help Desk has appropriate contact numbers for DBA's for all operating systems.  If system problems are encountered, please call the Help Desk.  If potential system problems are not resolved promptly, you can also contact Jenny Rub, VP of IT Infrastructure at 713-851-5456 (cell phone),  281-463-4421(home phone) or  877-345-3812
(pager).

Sally Beck
Chief Operating Officer
Enron Net Works LLC

713-853-5926
sally.beck@enron.com


We have a new backhual contract from Transco.

Term  12/8/2000 - 12/31/2000
Demand $.07
k#  3.7714
Volume  5,000
Rec  Zone 6
Del  Zone 1

I just set this up in Sitara.  Please try to set up an activity number on
this contract this afternoon.  Judy will be using this contract to flow 1 to
3, 2 to 3, or 3 to 3.  We may use this contract to hook up with Leidy gas and
flow it to the 210 pool or to Doyle.


Mary Hain has resigned her position with Enron.  Please remove her from all
your mail lists.

Thank you.

Lysa Akin
Gov't Affairs - Sr. Admin. Ass't.

From: Sara Davidson/ENRON@enronXgate on 03/28/2001 11:30 AM CST
To: Daniel Allegretti/NA/Enron@Enron, Denise
Almoina/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kevin Altit/BRZ/AZURIX@Azurix,
Ray Alvarez/NA/Enron@ENRON, Mark Antonvich/ENRON@enronXgate, Yao
Apasu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lynn Aven/ENRON@enronXgate, Gareth
Bahlmann/ENRON@enronXgate, Peggy Banczak/HOU/ECT@ECT, Emilio
Battioli/BUE/AZURIX@AZURIX, Maria Pia Beccaccini/SA/Enron@Enron, Eric
Benson/NA/Enron@ENRON, Chandran Bhaskar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt,
Alan Black/LON/ECT@ECT, Michelle Blaine/ENRON@enronXgate, Roy
Boston/HOU/EES@EES, Samantha Boyd/NA/Enron@Enron, Sandi M
Braband/HOU/ECT@ECT, Stephen Brooke/NA/AZURIX@AZURIX, Mary Nell
Browning/LON/ECT@ECT, Janet Butler/ENRON@enronXgate, Teresa
Callahan/ENRON@enronXgate, Andrea Calo/SA/Enron@Enron, Dominic
Carolan/ENRON@enronXgate, Rebecca Carter/Corp/Enron@ENRON, Michelle
Cash/HOU/ECT@ECT, Jon Chapman/LON/ECT@ECT, Charles Cheek/ENRON@enronXgate,
Kim Collins/HOU/EES@EES, Allan Conge/HOU/AZURIX@AZURIX, Edmund
Cooper/LON/ECT@ECT, Susan T Covino/HOU/EES@EES, Ned E
Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Aleck Dadson/TOR/ECT@ECT, Chris
Dalton/HOU/EES@EES, Shonnie Daniel/HOU/ECT@ECT, Eddy Daniels/NA/Enron@Enron,
vcferraz@elektro.com.br@SMTP@enronXgate, Peter del Vecchio/HOU/ECT@ECT,
Jeanine DeNicola/HOU/EES@EES, Rhonda L Denton/HOU/ECT@ECT, Jim
Desrochers/NA/Enron@Enron, Donette Dewar/ENRON@enronXgate, Richard
DiMichele/Enron Communications@Enron Communications, Elisa
Donovan/HOU/EES@EES, Dari Dornan/ET&S/Enron@ENRON, Stephen H
Douglas/ENRON@enronXgate, Anthony Duenner/Enron Communications@Enron
Communications, Adam Duguid/LON/ECT@ECT, Stacy Dunegan/ENRON@enronXgate, Mark
Elliott/LON/ECT@ECT, Denise Ernest/ENRON@enronXgate, Angel M
Esguerra/Enron_Development@ENRON_DEVELOPMENT, Carol Essig/ENRON@enronXgate,
Jeffrey K Fischer/HOU/EES@EES, Nony Flores/HOU/ECT@ECT, Shawna
Flynn/HOU/ECT@ECT, fmackin@aol.com@SMTP@enronXgate, Sivert Fogerlie/Western
Region/The Bentley Company@Exchange, Drew Fossum/ET&S/Enron@ENRON, Richard
Freed/HOU/EES@EES, Brenda L Funk/ENRON@enronXgate, Robert H
George/NA/Enron@Enron, Annette Glod/ENRON@enronXgate, Fernando
Gonzalez/TRANSREDES@TRANSREDES, Diane Goode/NA/Enron@Enron, James
Grace/Corp/Enron@ENRON, David Grant/ENRON@enronXgate, Barbara N
Gray/HOU/ECT@ECT, Sarah Gregory/LON/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT,
Lauren Hagerty/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mary Hain/HOU/ECT@ECT,
Stephen C Hands/ETOL/EU/Enron@ENRON, Leslie Hansen/HOU/ECT@ECT, Joe
Hartsoe/Corp/Enron@ENRON, Jennifer Hillegonds/HOU/EES@EES, Geneva
Holland/ENRON@enronXgate, Rick Hopkinson/ENRON@enronXgate, Lee
Huber/ET&S/Enron@ENRON, James A Hughes/ENRON@enronXgate, Tony
Jarrett/HOU/AZURIX@AZURIX, Lina Jimenez/ENRON@enronXgate, Jan
Johnson/GPGFIN/Enron@ENRON, Paul Johnson/ENRON@enronxgate, Greg
Johnston/CAL/ECT@ECT, Tana Jones/HOU/ECT@ECT, Piyush
Joshi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cristina
Juvier/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gina Karathanos/ENRON@enronXgate,
Lena Kasbekar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep Katwala/Enron
Communications@Enron Communications, Paul Kaufman/PDX/ECT@ECT, Steven J
Kean/NA/Enron@Enron, Jeffrey Keeler/Corp/Enron@ENRON, Paul
Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William
Krenz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Candace Kyle/ENRON@enronXgate
cc:
Subject: REMINDER -- Law Conference (Distribution List 1)

     Enron Law Conference

        Reminder

                   Submit your Online RSVP Form now!

The deadline for replying to the 2001 Enron Law Conference is fast
approaching!  Please go to  http://lawconference.corp.enron.com and fill out
your Online RSVP Form.  Don't forget to respond if you will be attending the
Thursday night awards dinner as well.  Once you have submitted your RSVP
Form, you should receive a confirmation e-mail.  Please review your
confirmation information and let me know if there are any changes.

Remember, responses must be submitted no later than Friday, March 30, 2001.
See you in San Antonio!


I know how e-mail is suppose to work, but its been so crazy here that I
haven't even been able to do that.  We were here last night till 10:00 and it
looks to be the same tonight and potentially for the rest of the year.  This
project is going to kill me.  I glad to see that you are active on the net.
I'll keep in touch a little better. Love
Ben


Jeff,

I am attaching a final version of your declaration for your signature.  Mike
Smith added a few small changes, which you will see.  If you have any
additional comments or revisions, let me know as soon as possible.  Once you
have signed the declaration, please federal express the original to me:

Kristen Bird
Quinn Emanuel Urquhart Oliver & Hedges, LLP
895 South Figueroa Street, 10th Floor
Los Angeles, CA 90017-2543

Also, please send a fax copy of your signature page to Diane Hutnyan at
415.986.5707 as soon as possible.  She is at our Quinn Emanuel office in San
Francisco and is helping with the actual filing.  Also, please let me know
when you have signed and faxed the declaration.  My direct dial is
213.615.8774.
Thanks again for your help Jeff.

Regards,
Kristen

 - Dasovich.


Why are you so cranky?  Anything I can do?   Hey I spoke to my friend (mike) and told him about you and Jon - you know all the good stuff, how nice you guys are, what good friends we have become, that you all live in Greatwood (like they do), that you guys have a 2 year old son (like they do), that your families are all up North (like thiers are)  and he want the six of us to have dinner so he and his wife can get to know you and JOn ...Interested?

 -----Original Message-----
From: 	"susan schnitzer" <s.schnitzer@worldnet.att.net>@ENRON
Sent:	Thursday, October 11, 2001 3:21 PM
To:	Brawner, Sandra F.
Subject:	Re: I AM THANKFUL FOR ......

i could use some positive thoughts.  i am having a cranky week!


This is the correct version. Sorry for any confusion... Andy
-----Original Message-----
From:	Andy Weingarten
Sent:	Tuesday, January 08, 2002 9:07 AM
To:	'Weather Archive'; 'Weather News Distribution'
Subject:	TUESDAY WEATHER HEADLINES

Weather Headlines
Tuesday January 8, 2002
Thaw underway for the short term. Longer range models continue to insist
(as I continue to resist) that real arctic air arrives later in the month.
There is some potential for yet another winter storm in the East late in
the five day period. The point in question is how much cold air is
available or is it just another cold rain for many folks. That will be
answered later in the week. The overall pattern definitely looks warmer for
now though some of this energy goes into melting snow cover rather than
warming the air. The absence of snow in the Plains is one reason why they
are so much warmer relative to normal than areas farther East. But, most of
the country goes warmer than normal before the end of the week. The last to
catch on to this trend is the Southeast.
I am not as bullish as the charts (and some forecasters) in regards to cold
air developing in the medium range period and beyond. I am not saying next
week and the week after will not be colder than this week, they likely will
be. But, I continue to have questions as to intensity and Southern extent
of whatever develops. First, we have yet to see any real polar flow so far
this winter. Second, lack of deep snow cover in the Northern U.S. tends to
inhibit bitter cold. Third, and perhaps most important to me is the lack of
high surface pressures developing over Canada. Now, they may develop
eventually, but I want to see it first. Finally, most models have more of a
West to East configuration at the jet stream level rather than a NW to SE
orientation straight out of the arctic. Given these conditions and recent
history I am just not ready yet to pronounce any major cold developing. In
fact, I would expect the Gulf Coast and SE to actually run warmer than
normal through the 20'th of the month. The Plains, Lakes and NE probably go
back to below normal levels, but not excessively so. It looks comparable to
the past couple of weeks. The West is expected to take on a temperature
profile that closely resembles normal Mid-January levels.
For the period Tuesday January 8 through Saturday January 12, expect the
following temperature trends:
Average 1 to 3-degrees below normal: Southeast?
Average 1 to 3-above normal: Gulf Coast, Mid-Atlantic...
Average 4 to 9-degrees above normal: Northeast, Great Lakes, Ohio and
Mississippi Valleys, Southern Plains and Rockies, California, Intermountain
West, Desert SW, Pacific NW?
Average 10 to locally 20-degrees above normal: Central and Northern
Rockies, Central and Northern Plains...
Andy Weingarten, Meteorologist APB Energy / True Quote


Melba,

Please set up the Souther border, PG&E and Southern Border, Socal inices in
the database.  We have new risk coming in April that needs to find a market
soon on EOL.   We can have NGI send you the new index posting if you need
it.  Also, please acitvate long term index products of one year.  There is
also a PG&E topock phys product in the one month category for april that
needs to be activated.

I look forward to hearing from you Monday morning.

Sincerely,
Mike Grigsby


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I have a request from the ENA settlements group.  Williams Energy is billing
the HPL purchase deals on the ENA invoice.  The accountant at Williams says,
that by the request of the HPL trader, the deals are to be billed to ENA.  We
would like to have the Texas deals billed directly to HPL.  If you do not
have a problem with this, can you ask your counterpart at Williams to split
the deals between HPL and ENA?  It would make the payment process much easier.

Thanks,
Megan
x5-7480


Chris Germany@ECT
03/06/2000 08:10 AM
To: Scott Goodell/Corp/Enron@ENRON
cc:

To: Chris Germany [SDCVM01.NAV0409]@LMSOV
cc:
Subject: Questions about CES Capacity

I have a few questions about CES Retail's firm capacity. I am trying to
determine what capacity CES had that was assigned to ENA, with contract
details. I combined a few spreadsheets but still have questions. Mostly I am
looking for some of the following; contract #, RP, DP, MDQ or term. Also not
sure if capacity K#s I have were CES's, then assigned or ENA's own. Can you
please assist?

1. TCO K#64651-is it CES' or ENA's? delivers to CMD4-25
 Originally CES'.  Assigned to ENA.
 19-26 3
 19-27 23
 19-32 4
 19E (19-25) 34
 Rec-Leach 64

2. TCO COH7-1, Exhibit 1 shows 20,000 of capacity for C&I. I have no details
on
this K.
 I don't see a break between Commerical and Retail, can you provide more
information?

3. TCO K#62164- I believe it delivers to COH7-4, but I have no details.
 Rec MLI 1000 Volume of 2000
 Del MLI 23-9 Volume of 2000
 Thru 12/31/2000

4. TCO K#65403- believe it delivers 19,000+ to BGE, but need all detail.
 Rec- Leach
 Del-4-Baltimore 19,293
 Thru 4/30/2001

5.  CNG NORTH- K#'s 5A2291/5A2181 and 5A2292/5A2182; deliveries to NIMO, CES's
or ENA's?
 5A2292 Enron North America released from CES 5A2289 2/00   476/d
 5A2291 ENA from CEM 5A2288  2/00  422/d
 5A2181 and 5A2182 Appear in the EBB as CES for January.
  ENA was the agent

6.  Have a bunch of contracts to TETCO M3, CES or ENA? see below
 No info provided,  was a file attached to this original email?

7.  TRANSCO Z5-Ex 1 shows 150 capacity, I have no details.
 Sounds like a PSNC type volume.  Can you verify?

8.  TRANSCO Z6- for LILCO, is this released monthly to ENA?
 YES
9.   Texas Gas Z-4 to DP&L- monthly also?
 The 1440/d from Dayton on TXGAS is released monthly (to ENA).

10. Did CES have any ColGulf capacity that was assigned?
 All the retail contract, O&R, CMD, COH, etc.  Both FTS-1 and FTS-2.
 Wholesale capacity

Call me if you have questions.
Jeff 703/561-6447


Gauarav and Bill:
Here are the names of our outside counsel that will be helping us out.  I
have forarded to them what you sent to me today.

Scott Avitabile
212-424-8491
savitabi@llgm.com

John McGreevy
212-424-8361
jmcgreevy@llgm.com

Please add them to the distribution list.
Carol


Anita,

Please, catch me tomorrow to talk about it.

Vince

Anita DuPont@ENRON
04/25/2001 02:48 PM
To:	Vince J Kaminski/HOU/ECT@ECT
cc:	Shirley Crenshaw/HOU/ECT@ECT
Subject:	Iris's trip to London

Vince:

Iris had asked if it was possible to get a room in London with a kitchenette so she could make some of her own meals since she is vegetarian .  The Anetheum has apartments with kitchens but they cost a $100 a day more than the regular room.   Should I just give her a regular room?    Sorry to bother you with all of this, but I don't know the appropriate thing to do in this case.


Hi Susan,
Thank you for requesting lodging and vacation planning services fromSki Park City Utah.net. Here are some of the best lodging options for your desired dates: (1/26/2002 - 1/29/2002). You can click on the property name or the link to see pictures and descriptions from our website.
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Susan, I hope this helps.  Let me know if you want to look at any other properties.  I look forward to hearing from you.
Thanks,
Mark Day
Ski Park City Utah.net
www.skiparkcityutah.net
(877) 719-2900


Jeff -- Attached are some suggested talking points for the employee video taping today at 4 p.m.  I'll come to your office a few minutes early to discuss before we tape on 50M.

Thanks!
Karen


Michael,

Please call me if you have any questions or opportunities.

Thanks,

Martin Cuilla


One other argument we could make:  according to the traders, the gas market
is very liquid.  Because the gas market is very liquid, generators will sell
their gas and turn off their units.  So the ISO will create a reliability
problem.

From: James D Steffes@ENRON on 10/27/2000 11:09 AM CDT
To: dwatkiss@bracepatt.com, dexickson@mwe.com, Joe Hartsoe/Corp/Enron@ENRON,
Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Mary
Hain/HOU/ECT@ECT, Susan J Mara/SFO/EES@EES, Jeff Dasovich/NA/Enron@Enron
cc:
Subject: Pleading to Stop ISO

Here is the outline of some points to make in the filing today.


Cynthia:
Thanks for sending this.  Just 2 questions:

1. In Section 7 of Annex 1 could we please add the recording language?

2. I understand from our folks that most notices are provided over the phone
and not necessarily followed up in writing and that this is the practice.
Can we provide for that in Section 13 of the Agreement?

Carol


Dan Hyvl will call Gary Lamphier with the meter number.  This should go in
the system as soon as we get the meter number form Dan Hyvl.  We can put this
deal in the system before the contracts are signed, but we do not want to
send the Osborn until we have a signed agreement  from ENTEX.   Also, do not
pay Osborn until we recieve an allocation statement.

Thanks,
J

	Enron North America Corp.

	From:  Megan Parker @ ENRON                           10/27/2000 10:22 AM

To: Janet H Wallis/HOU/ECT@ECT
cc:
Subject: Osborn Purchase

I wanted to let you know that we still do not have a deal in the system for
Osborn.  Gary told Julie that the contract went back to legal and that he was
waiting to hear from them before he did anything.  You can read Julie's email
below.  Can you help with the particulars of the deal, especially the point?
Gary is not sure.  The only detail I got from Osborn was that the price
should be HSC - 0.20.  I would like to try and get their check out on Monday,
if we can get the deal in today.

Megan
---------------------- Forwarded by Megan Parker/Corp/Enron on 10/27/2000
10:15 AM ---------------------------

Julie Meyers@ECT
10/26/2000 11:51 AM
To: Megan Parker/Corp/Enron@ENRON
cc:

Subject: Re: Something new for Entex-Yeah!!!

Do you know the point?  Gary was waiting for Janet to ok it, because she sent
the contract back to legal because she didn't like some wording.  But, Gary
said that he would put a ticket in for September, but he doesn't have the
particulars.

Julie


I still think that Enron shouldn't be the lead.  We need the industry to
respond.  Hartsoe doesn't think that EPSA will be interested in spending the
$.

Jim

	Jeff Dasovich
	Sent by: Jeff Dasovich
	12/11/2000 11:59 AM

		 To: James D Steffes/NA/Enron@Enron
		 cc: Alan Comnes/PDX/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, Richard Shapiro/NA/Enron@ENRON, Susan J Mara/NA/Enron@ENRON
		 Subject: Re: Analysis of Joskow / Hogan Papers

Sounds very good.

Might be useful to get a "reputable" economist to write a paper that 1)
describes traditional means for defining, identifying and mitigating market
power, 2) compares those with the "new" means folks are coming up with these
days,  and 3) comments on the "split" in the academic community over the
issues.

When Steve Kean and I discussed the notion initially, thought it might be a
good idea to gently "pile on" to the public discussion with the goal of
making clear 1) just how complex this issue is and 2) how important it will
be to have a thorough analysis (say, about 12+ months worth?) before rushing
to judgment on anything Joskow might allege in his paper.  Thoughts?

Best,
Jeff

	James D Steffes
	12/11/2000 10:02 AM

		 To: Alan Comnes/PDX/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, Richard
Shapiro/NA/Enron@Enron
		 cc: Jeff Dasovich/NA/Enron@Enron, Mary Hain/HOU/ECT@ECT, Susan J
Mara/NA/Enron@Enron
		 Subject: Re: Analysis of Joskow / Hogan Papers

Having read the Hogan paper, I think that the "academic" community is
somewhat divided on this issue.  If we want to move forward on the issues
Joskow addresses, I would recommend that EPSA be the vehicle.  The entire
marketer / generator community needs to counter.

What do people think about seeking activity through EPSA, WPTF, and/or IEP of
CA  to push back on the studies and analysis especially after the Dec 13
Order?  I don't think that the discussions will be ending very soon.

Jim

	Alan Comnes@ECT
	12/07/2000 03:07 AM

		 To: James D Steffes/NA/Enron@ENRON
		 cc: Jeff Dasovich/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Mary
Hain/HOU/ECT
		 Subject: Re: Analysis of Joskow / Hogan Papers

The Joskow/Kahn paper raises two issues:  price above cost  and witholding.

Enron obviously has concerns with the "price above cost" analysis.  I drafted
some specific concerns and put them into a draft to Enron's reponse to Hoeker
Question 1.  Although the detail was dropped in the final draft, the basic
technical concerns were laid out there. To really rebut Joskow/Kahn would
take considerable work.  Jeff D's idea was to write a paper that raised
issues and indicated how complicated a "correct" response would  be.

The Joskow/Kahn withholding section has recieved criticism from the ISO so I
am not sure Enron needs to respond to that.

I think my bottom line now is that the debate at FERC will soon be over or
enter a new stage on the 13th.  As far as how a response would help us in
California, I think requires a discussion with Jeff.

Alan

From: James D Steffes@ENRON on 12/05/2000 07:22 PM CST
To: Alan Comnes/PDX/ECT@ECT, Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/NA/Enron@ENRON, Mary Hain/HOU/ECT@ECT
cc:

Subject: Analysis of Joskow / Hogan Papers

Alan --

Before we bring in Seabron Adamson to do some analysis, I'd like your read of
the Joskow and Hogan papers.   When we have our understanding straight, let's
talk.

Jim

----- Forwarded by James D Steffes/NA/Enron on 12/05/2000 07:20 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	11/30/2000 11:49 AM

		 To: skean@enron.com, Richard Shapiro/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron, Paul
Kaufman/PDX/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Karen
Denne/Corp/Enron@ENRON, mpalmer@enron.com, Susan J Mara/NA/Enron@ENRON, Alan
Comnes/PDX/ECT@ECT
		 cc:
		 Subject: From Today's Electricity Daily

FYI. In bizarre times, help can sometimes come from bizarre places.  Granted,
we're likely to disagree strongly with Hogan's continued obsession with
Poolco, but the discussion in his paper regarding market power may be
helpful---I've read the Joskow paper, but haven't yet had a chance to review
the Hogan piece.

Steve and I discussed the need to do a focused assessment of the Joskow/Kahn
"analysis"  (remember it's Ed Kahn, not Alfred Kahn).  Seems that it would be
very useful to fold into that analysis any useful stuff on market power
included in the paper done by Hogan & Co.  If, in the end, there ain't
nothing useful, so be it.  But seems like there's little downside to
exploring it.

Jim, my understanding is that Alan is already working with the fundamentals
folks on the Portland desk to deconstruct the Joskow paper.  Might want to
include the Hogan paper in those discussions and might also be useful to pull
Seabron Adamson into the thinking, too.  Ultimately, may be preferable to
have any assessment of Joskow and/or Hogan to come from economists, rather
than directly from us.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 11/30/2000 11:38 AM -----

	"Daniel Douglass" <Douglass@ArterHadden.com>
	11/30/2000 11:29 AM

		 To: <Barbara_Klemstine@apsc.com>, <dcazalet@apx.com>, <BillR@calpine.com>,
<jackp@calpine.com>, <glwaas@calpx.com>, <Ken_Czarnecki@calpx.com>,
<cabaker@duke-energy.com>, <gavaughn@duke-energy.com>,
<rjhickok@duke-energy.com>, <gtbl@dynegy.com>, <KEWH@dynegy.com>,
<jdasovic@enron.com>, <susan_j_mara@enron.com>, <curt.Hatton@gen.pge.com>,
<foothill@lmi.net>, <camiessn@newwestenergy.com>,
<jcgardin@newwestenergy.com>, <rsnichol@newwestenergy.com>,
<Nam.Nguyen@powersrc.com>, <rllamkin@seiworldwide.com>,
<Roger.Pelote@Williams.com>
		 cc:
		 Subject: From Today's Electricity Daily

Has FERC Gone Far Enough in California?
The Federal Energy Regulatory Commission isn't going far enough in its
attempt to reform the California wholesale electric market, according to a
paper by three prominent economists done for San Diego Gas and Electric. The
paper by John D. Chandley, Scott M. Harvey, and William W. Hogan argues that
FERC should first end the artificial separation that divides the California
Power Exchange and the California Independent System Operator, rather than
worrying about the governance of the two institutions.
"The change in governance may help," says the paper - "Electricity Market
Reform in California" - "but it is not likely to be decisive in the near
term. Explicit guidance from the commission regarding the nature and
trajectory of reforms will be essential if market reform is to be
accomplished within an acceptable time frame." Hogan, of the Kennedy School
of Government, has been writing since 1995 in opposition to California's
market separation.
Also, argues the paper, freeing the California utilities to engage in forward
contracting is no panacea. "The expectation that merely allowing utilities to
participate in forward contracting necessarily would be the solution to high
prices is problematic and not supported by the commission's staff report,"
says the analysis, adding that "putting pressure on buyers to sign contracts
in the present environment may make things worse." If the underlying problem
in California is high cost and low capacity, requiring forward contracting
could harm not only California but also the entire Western U.S. electric
system.
FERC's $150 so-called "soft cap" is a wild card that has the three economists
scratching their heads. "It does not appear in the staff report and there is
little critical analysis of their implications, other than the discussion of
Commissioner [Curt] Hebert." If the intent of the soft cap is to move toward
cost justification for bids above $150/MWh, then FERC is headed into an
administrative morass "that would rival those under wellhead price controls
in the natural gas industry."
If, on the other hand, the soft cap is "truly soft" and would only require
some paper work at FERC and the possibility of a refund if the price is
eventually deemed not just and reasonable, "there might be little impact on
consumer prices (particularly if the principal sources of those high prices
are high costs and regional capacity shortages rather than the exercise of
market power). Even so, the proposal might serve to deter entry and new
investments, thus combining the worst of both worlds, high consumer prices
and little or no new investment."
FERC's proposed order in California also demonstrates confusion about just
what constitutes market power. The paper cites the proposed order's lawyerly,
obfuscatory conclusion that "while this record does not support findings of
specific exercises of market power, and while we are not able to reach
definite conclusions about the actions of individual sellers, there is clear
evidence that in California market structure and rules provide the
opportunity for sellers to exercise market power when supply is tight and can
result in unjust and unreasonable rates under the [Federal Power Act]." The
economists note, "In this regard, the debate is confused because we are
dancing around the words where the truth may be hard to face."
In the case of California, say the economists, there is no evidence of market
power. Even the practice of generators avoiding the day-ahead market in favor
of the real-time market "is a response to bad market design and pricing
incentives (including price caps), but does not demonstrate the exercise of
market power." Nor is bidding above marginal cost necessarily an exercise of
market power, they add. "The distinction between direct marginal cost and
opportunity cost is sometimes lost in the discussion. Hence, a competitive
bidder whose direct cost of generation is $40 but who could sell the same
energy outside California for $100 should bid no less than $100. This would
not be an exercise of market power."


Sounds good to me.

"Wilson Montjoy" <wmontjoy@brunini.com> on 04/13/2001 08:20:12 AM
To: <Kay.Mann@enron.com>
cc:

Subject: Re: Draft Contract and Exhibits

I have received the draft documents and will look at today or Monday ( we're
closed
 day today). Can we talk early next week?


Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3893
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490
----- Forwarded by Travis McCullough/HOU/ECT on 03/12/2001 10:22 AM -----

	"Stockbridge, Edward T" <tstockbridge@velaw.com> 03/11/2001 07:02 PM 	   To: "McCullough, Travis (Enron)" <travis.mccullough@enron.com>  cc: "Telle, Michael S." <mtelle@velaw.com>, "Breeland, Pat" <pbreeland@velaw.com>  Subject: Revised Co-Marketing Agreement

Travis:

	Attached please find the revised Co-Marketing Agreement.  This
incorporates the changes that we discussed on Friday.  It does not, however,
include a provision whereby Enron could terminate the agreement if the
Warburg financing is not completed by April 30th.  You said that you wanted
to leave that out of this draft, but to reserve the issue in the transmittal
email.

The redline shows changes from my last draft (not the Kiodex redraft).  I
will try to prepare a redline showing changes from the Kiodex draft of March
6th, but I don't know if that will be possible given the state of Kiodex's
document.

	If you have any questions regarding the revised draft, please do not
hesitate to contact me.

Ted

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