FERC Proposes New Rules On Energy Co Affiliate Dealings
09/26/2001
Dow Jones Energy Service

FERC Grants PD for Tuscarora Lateral, Approves Northern Abandonment
NGI's Daily Gas Price Index
published : September 27, 2001

TRANSWESTERN TOUTS SUCCESS OF OPEN SEASON FOR SUN DEVIL PIPELINE
09/13/2001
Foster Natural Gas Report

FERC Proposes Rulemaking, Plans Meetings
NGI's Daily Gas Price Index
published : September 27, 2001

Proposed Rule Extends Marketing Affiliate Regulations to All Affiliates
NGI's Daily Gas Price Index
published : September 27, 2001

Govt keen to solve Enron crisis
09/27/2001
The Statesman
Fin. Times Info Ltd-Asia Africa Intel Wire.

US Physical Natural Gas Prices Fall; Light Demand Seen
09/26/2001
Dow Jones Energy Service

Transwestern Pipeline.
09/17/2001
The Oil and Gas Journal

National Post Business Magazine
Deconstruct
Passing Gas: How dancing elephants and smart pigs help heat your home
Larraine Andrews
10/01/2001
National Post

Heating Bills This Winter to Ease Sharply Utilities: Lower natural gas prices are reducing costs for Californians, but reliance on imports could be a problem in the long run, studies say.
NANCY RIVERA BROOKS
09/27/2001
Los Angeles Times

USA: FERC OKs Tuscarora natgas pipeline for Nev, Calif.
09/26/2001
Reuters English News Service
-------------------------------------------------
FERC Proposes New Rules On Energy Co Affiliate Dealings

09/26/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
WASHINGTON -(Dow Jones)- The U.S. Federal Energy Commission proposed Wednesday new restrictions governing natural gas pipeline and electric utility affiliate dealings.
The commission unanimously agreed to initiate a rulemaking to tighten regulations prohibiting pipelines and utilities from providing market-sensitive information to their marketing affiliates.
FERC rules allow monopoly pipeline and utility companies to sell natural gas and electricity at market rates, providing they adopt codes of conduct that prevent the passage of information giving a competitive advantage to their marketing affiliates.
The proposed changes reflect the sweeping convergence between the natural gas and power sectors in the years since FERC deregulated the pipeline industry in the 1980s.
FERC's "code-of-conduct" rules prohibit pipelines from sharing market-sensitive information with their gas-marketing affiliates. But the rules don't address the pipeline's power marketing affiliates.
The commission's proposed rules would expand the code-of-conduct rules to address all marketing affiliates, including those involved in financial transactions that don't entail the physical delivery of energy.
The template for the proposed changes can be found in the conditions FERC imposed in a 1999 order authorizing the acquisition of Pittsburgh-based Consolidated Natural Gas by Dominion Resources (D). The commission approved the electricity-natural gas convergence merger, contingent on Dominion agreeing to adopt codes of conduct applying equally to its gas and power marketing affiliates.
FERC's rule changes would apply to other electric utilities with pipeline investments, such as CMS Energy (CMS), Duke Energy (DUK) and American Electric Power Co. (AEP).
It wasn't immediately clear how the changes would affect joint operating agreements, such as the one between Entergy Corp. (ETR) and privately held Koch Industries.
The largest impact will be for large pipeline companies with extensive power marketing operations and investments in power plants.
For example, El Paso Corp. (EPG), Williams Cos. (WMB) and Enron Corp. (ENE), represent about 70% of the interstate pipeline industry, and are among the nation's top power marketers and merchant power plant developers.
The changes under consideration stem from the commission's investigation of El Paso Natural Gas Co.'s controversial contract with a marketing affiliate for pipeline capacity into California.
The affiliate transaction has been blamed for California's dramatic runup in natural gas prices over the past year, which contributed to the state's unprecedented high electricity cost last year.

NGI's Daily Gas Price Index
published : September 27, 2001
FERC Grants PD for Tuscarora Lateral, Approves Northern Abandonment
The Federal Energy Regulatory Commission (FERC) has issued a favorable preliminary determination on non-environmental grounds to Tuscarora Gas Transmission's Wadsworth Lateral, a 14.2-mile pipeline extension and associated facilities that would increase Tuscarora's transportation capacity by 95,912 Dth/d. The lateral would extend from Tuscarora's mainline in northern Washoe County, NV, to an interconnect with Paiute Pipeline in Nevada.
The expansion of the 229-mile pipeline system, which extends from Malin, OR, to a growing Nevada market, would serve two new power generation facilities in Nevada near Tracy and Wadsworth. Duke Energy plans to construct a 540 MW plant near Wadsworth, and Morgan Stanley is now constructing the 360 MW Naniwa Energy facility near Tracy.
The added capacity also would supplement the growing gas distribution needs of Sierra Pacific Power Co. and Southwest Gas Corp., which collectively distribute natural gas to all of northern Nevada and portions of Northern California.
If FERC approves the application, Tuscarora said it would begin construction in April 2002 and begin service by the end of that year. The $60 million expansion is supported by long-term, firm transportation contracts ranging from 10-to-15 years that are contingent upon completion.
FERC also gave Northern Natural Gas the authority to abandon by sale its far east leg to Wisconsin Gas for use by affiliate Guardian Pipeline. The Northern line runs from Boone County, IA, to an interconnect with ANR in Rock County, WI. It extends to a delivery point near Eagle, WI. This nine mile, 24-inch diameter line is located primarily in Walworth and Waukesha, WI.
FERC has given Guardian Pipeline authorization to eliminate construction of its Eagle lateral, which would have run parallel to the Northern line. The 8.5 mile, 16-inch diameter Eagle Lateral would have run from a connection with Guardian to Eagle, WI, at a delivery point with nonjurisdictional facilities of Wisconsin Gas and Wisconsin Electric.

TRANSWESTERN TOUTS SUCCESS OF OPEN SEASON FOR SUN DEVIL PIPELINE

09/13/2001
Foster Natural Gas Report
Page 10
(c) Copyright 2001, Foster Associates, Inc.
Enron Corp.'s subsidiary Transwestern Pipeline Co. says it received requests for more than 1.3 Bcf/d of capacity for its proposed Sun Devil Pipeline expansion project that would transport San Juan Basin natural gas production to market areas in Phoenix and California by January 2004.
Transwestern's Sun Devil Pipeline was announced as another of several new western states' gas transportation options. A Transwestern official said the gas-fired electric generation market in Arizona is the second largest growth market in the U.S. The company is working with shippers to finalize transportation agreements and expects to file its Sun Devil application with the FERC early next year. Shippers needing additional information can contact Project Director Kevin Hyatt at 713-853-5559 or email at Kevin.hyatt@enron.com.
Transwestern announced its plans on August 8. The proposed project will include new compression and pipeline looping plus a new lateral, the Flagstaff - Phoenix, Arizona lateral, which would add approximately 175 miles to Transwestern's existing system. The project's estimated in-service date is January 2004. The proposed facility modifications will enable Transwestern to deliver an incremental 780,000 dth/d from the Blanco Hub located in San Juan County, New Mexico to the Thoreau area, an incremental 90,000 dth/d from Thoreau to the California border, and an incremental 450,000 dth/d from Thoreau to Phoenix. Potential supply receipt points from the San Juan Basin at the Blanco Hub are BRT/Val Verde Plant, WFS/Milagro Plant, WFS/Kutz Plant, and TransColorado/Blanco. Transwestern will consider interconnecting with other upstream and downstream pipelines, subject to the mutual agreement of the pipelines. The estimated maximum one-part reservation rates, exclusive of fuel and all surcharges, for firm service through the capacity described in this open season are as follows: San Juan to Thoreau -$.0985 dth/d; Thoreau to California -- $.240 dth/d; and Thoreau to Phoenix -- $0.454 dth/d. (See REPORT NO. 2348, pp6-7.)
Transwestern's Red Rock Project (CP01-115), approved by FERC earlier this summer and under construction, will add 150 MMcf/d of new capacity for deliveries to the California border in mid-2002.

NGI's Daily Gas Price Index
published : September 27, 2001
FERC Proposes Rulemaking, Plans Meetings
In the same way your teacher loaded you down with books and assignments on the first day of the school year, new Federal Energy Regulatory Commission Chairman Pat Wood, presiding over his first meeting Wednesday. He put a whole slew of initiatives in motion, setting meetings, rulemakings, and calling for comments.
Sorting it out:
The Commission voted out a proposed rulemaking that which would extend the standards of conduct to fence off federally regulated transmission monopolies, both gas pipelines and electric transmission lines, from any other affiliate, including financial affiliates (see related story). For gas pipelines, which have been unbundled for a number of years and subject to affiliate codes of conduct for an equal number of years, the proposed rule will not be as onerous as it will for electric utilities, many of which are still bundled. This will mean, however, that gas transmission utilities must maintain firewalls between themselves and power affiliates, as well as gas marketing affiliates. Turn in your comments, please.
By its second meeting in October, FERC will have a detailed business plan, including priorities and completion dates for its Oct. 1, 2001 to Oct. 1, 2002 fiscal year. Wood directed a panel of senior staff members and another of junior staff members and union representatives to come up with the plan. The commissioners voted Wednesday to amend their existing five-year plan to emphasize their major new emphasis on market monitoring and mitigation.
FERC will be holding regional meetings on gas and electric infrastructure. It will start with a meeting on the western infrastructure following the Nov. 1-2 Western Governors Association meeting in Seattle. Wood said he expected federal and state regulators, and others to participate. A meeting for the Northeast may be scheduled in December, with sessions for the South and Midwest to come later. Attendance is not mandatory.
FERC will cooperate with the Department of Energy in two technology-oriented sessions, one to explore technology solutions such as remote metering to capturing retail and wholesale consumer demand response in mid-February and another to investigate new transmission technology in mid-January.
Don't be surprised to see a lot of topics debated at FERC's regular open meetings. The sunshine laws which prohibit more than two commissioners from discussing FERC business except in an open meeting, is confining, Wood said. (Usually commission staff runs back and forth among commissioners to establish positions before the meetings). Wood would like to have more discussions out in the open to work things out, and also to let the public know "not just what we are doing, but why we are doing it."
And also, be prepared to pledge allegiance to the Flag of the United States of America from now on at any FERC meeting presided over by Chairman Wood. The chairman also asked for a moment of silence Wednesday for the victims of the Sept. 11 attack.

NGI's Daily Gas Price Index
published : September 27, 2001
Proposed Rule Extends Marketing Affiliate Regulations to All Affiliates
Federal Energy Regulatory Commissioners Wednesday agreed to issue a notice of proposed rulemaking broadening the application of standards of conduct for transmission providers, including both natural gas pipelines and power lines, to require separation of the regulated monopolies from any other company affiliate.
Previously, the rules simply required creation of a firewall, including separate operations in separate locations staffed by separate personnel, between gas pipelines and their marketing affiliates. The proposed rule would wall off both gas and electric transmission operations from any other affiliate, gas or electric, including financial affiliates.
The Commission was presented with two options regarding the application of the proposed rule to electric transmission affiliates, which still in many cases have bundled operations. One option would enforce complete separation, while a second would have exempted employees who deal in sales or purchases of bundled retail native load. Staff and Commissioners Wood, William Massey and Nora Brownell appeared to favor walling off all affiliated personnel, so they would not be privy to market information about transmission operations that other non-affiliated competitors did not have access to.
Commissioner Linda Breathitt, however, argued for exempting personnel dealing solely with retail native load. Breathitt said that while she supported the eventual separation of the entities, she was concerned about the timing. "I see no compelling reason at this time; there have been no complaints and no evidence." She said she thought state commissions might consider the move an infringement on their jurisdiction. "I agree with concept philosophically, but I think there will be other opportunities later on, after we do a little more bridge-building with state commissions."
Wood said he understood "the political issue here with respect to federal-state relations, but I think this is an opportunity for discrimination that ought to be eliminated." Staff pointed out that if there were any problems with transmission reliability or if some small utilities had problems, waivers could be granted. Staff was questioned by the commissioners as to how much information was available to affiliate personnel. "If I am an affiliate employee dealing solely with retail native load, I can go into the control room and get all the information I want," one staffer responded.
Wood proposed, and the commissioners ratified, a proposed rule with no exceptions, but which makes clear that in the final rule the Commission may reverse field and determine that separation of employees dealing with sales of native load is not required. Commenting parties should provide cost/benefit analysis on both sides of the question. State commissions are also invited to comment. Wood had suggested the Commission extend the separation to all sales employees, "but make it clear that if we don't hear from people that they really want this separation, we ain't going to do it."

Govt keen to solve Enron crisis

09/27/2001
The Statesman
Fin. Times Info Ltd-Asia Africa Intel Wire. The Statesman Copyright (C) 2001 The Statesman Ltd. All Rights Res'd

STATESMAN NEWS SERVICE & AGENCIES NEW DELHI/MUMBAI, Sept. 26. An inter-ministerial committee of Union secretaries is monitoring the Enron crisis regularly, to facilitate some kind of early solution to the Enron imbroglio involving the Dabhol power project, the power minister, Mr Suresh Prabhu, said here today, while refusing to divulge the options being explored.
An institutional framework committee, made up of the finance secretary Mr Ajit Kumar, power secretary Mr Ashok K Basu, law secretary Mr R L Meena and the petroleum secretary Mr V N Kaul, has been monitoring the developments on the project front, and regularly interacting with the parties Mr Prabhu said at a briefing.
We want an early solution to the problem, but the Centre has a very restricted role, limited only to facilitate an amicable solution, he said.
Mr Prabhu refused comment on Enron chairman, Mr Kenneth Lays reported letter to the Prime Minister, Mr Atal Behari Vajpayee, seeking $5 billion in damages for terminating the contract, but said if by writing letters problems can be solved, we can also write letters. He said the government and the Cabinet have been kept informed of the status of the negotiations but it would be premature to speak at this stage on the problem which has its genesis in the contract signed in 1992.
DPC AGM: Notwithstanding its depleting financial conditions, Dabhol Power Company has recorded a higher net profit of Rs 208 crore for the year ended 2000-01, compared with Rs 198 crore in the previous year.
Disclosing this at the annual general meeting here today, the Enron India chief, Mr Wade Cline, said that the promoters of DPC would be making efforts to fetch additional finances from the institutions to complete the remaining 10 per cent construction work of the 2,184-MW power project at Guhaghar in Ratnagiri district of Maharashtra.
Godbole report: The recommendations of the Godbole Committee, that held renegotiations with Enron on the future of DPC, are likely to remain on paper.
This was clear from the Maharashtra Chief Minister, Mr Vilasrao Deshmukhs post-Cabinet-meeting statement today when he said the government noted certain recommendations of the Godbole panel following several round of talks with officials of Enron-DPC over the past five months.
Mr Deshmukh said these recommendations would guide the government in future while negotiating fresh projects.
The fate of DPC will thus remain undecided. In the last Cabinet meeting, the Maharashtra government announced terms of reference for an inquiry commission, which would be set up to probe the entire Enron-MSEB deal ab initio. However, the government is still to name a retired Supreme Court Judge to head the commission.
Mr Madhav Godbole, a former bureaucrat, had clearly suggested that the panel should call off renegotiations, since Enron had announced its desire to walk out of the DPC. He said other states such as Karnataka, Madhya Pradesh, Delhi and Rajasthan were ready to purchase Enron power, provided the rate per unit ranged between Rs 2.25 and Rs 2.40. This was rejected by Enron.
Other recommendations noted by the State include: The Union Government which has given counter guarantee of Rs 2,500 crore, should raise bonds of the same amount and give them to Maharashtra as interest-free loan.

US Physical Natural Gas Prices Fall; Light Demand Seen

09/26/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
HOUSTON -(Dow Jones)- U.S. natural gas physical prices fell Wednesday on light demand, as traders hoped to take advantage of cash-outs on pipelines, marketers said.
"Not much is getting done for next month," one veteran trader said. "It's (Tuesday) all over again."
He said traders are hoping they can "get away with as much as possible on those cash-outs and pray they don't get a call from pipelines" asking them to ante up on the $2.15/MMBtu and above prices from earlier in the week.
As for next-month bidding, "everyone was asking," but not much was getting accomplished on baseload trading for October physical gas, a trader said.
Wednesday, prices were at a premium to the New York Mercantile Exchange to start the session, but ended up either in convergence or slightly in contango, he said.
Looking ahead, some incremental demand may be seen next month, as some utilities switch to natural gas from fuel oil and a number of nuclear energy sites go off-line for maintenance, one veteran trader said.
October, a shoulder month, tends to be a major price discount month, he said. On the Nymex there's presently a 42-cent difference between the outgoing October contract and the November contract. The November-November 2002 spread is more than 80 cents.
Wednesday, traders again saw tight ranges as the Nymex October contract traded under the spot cash bid-ask price, which are both at 30-month lows.
Traders are in the midst of a three-day monthly bid week as they set baseload pricing for October.
The Nymex Oct natural gas futures contract expired at $1.83 a million British thermal units, down 9.5 cents. November settled at $2.253/MMBtu, down 4.7 cents.
The American Gas Association said 91 billion cubic feet of gas was added to storage, and the bearish report sparked a selldown in October to $1.76/MMBtu.
At the benchmark Henry Hub in south Louisiana, the delivery point for Nymex gas, prices fell 5 cents-8 cents to a $1.85-$1.92/MMBtu closing range.
First-of-month index for the Henry Hub is around $2.34/MMBtu.
Deals at Transcontinental Gas Pipe Line Station No. 65 were done at $2.03-$2.15/MMBtu, up 5 cents-6 cents.
At the Arizona-California Border, where gas from El Paso's pipeline begins delivery to Southern California, buyers paid $1.72-$1.81/MMBtu, down 4 cents-5 cents. Index for September is at $2.66/MMBtu.
At PG&E Citygate, traders paid $1.85-$2.05/MMBtu, down 3 cents on the bid, up 8 cents on the ask. September first-of-month index is at $2.71/MMBtu.
At the Katy hub in East Texas, prices were in a $1.81-$1.87/MMBtu range, down 6 cents. First-of-month September index is $2.37/MMBtu.
At Waha in West Texas, buyers paid $1.65-$1.78/MMBtu, down 3 cents-9 cents. Index is at $2.32/MMBtu, traders said.

Transwestern Pipeline.

09/17/2001
The Oil and Gas Journal
Page 8
Copyright 2001 Gale Group Inc. All rights reserved. COPYRIGHT 2001 PennWell Publishing Co.
Enron unit Transwestern Pipeline has received requests for more than 1.3 bcfd of capacity on its proposed 400-mile Sun Devil Pipeline expansion project, which would bring natural gas from New Mexico's San Juan basin to market in Phoenix, then to California by January 2004. "Sun Devil is an important project that will serve the gas-fired electric generation market in Arizona, which is the second-largest growth market in the US," Transwestern said. The company presently is working with shippers to finalize transportation agreements. It plans to apply with FERC early next year. The company also said its Red Rock pipeline project will make 150 MMcfd of gas capacity available for delivery into California in mid-2002.

National Post Business Magazine
Deconstruct
Passing Gas: How dancing elephants and smart pigs help heat your home
Larraine Andrews

10/01/2001
National Post
National
Page 86
(c) National Post 2001. All Rights Reserved.
REVEALED Finding natural gas was once a matter of luck -- surface seeps provided the only real clue. Eventually, though, people realized that seeps often occurred on anticlinal or dome-like slopes, indicating the presence of an underground trap. In the early 1900s, oil companies began relying on geologists to help them read what the rocks had to say, but it was many years before seismic technology could give a picture of rock formations hidden deep in the Earth. These days, specialized vibroseis trucks use mechanical vibrations to create seismic waves. Costing US$350,000 each, the trucks weigh from 18,000 to 30,000 kg and travel in groups of four or five. They are often called "dancing elephants," operating in unison at 100-metre intervals. An on-board hydraulic system presses a central plate against the ground, lifting the truck into the air and vibrating it over a controlled frequency band. The resulting waves are reflected from rock layers in the Earth -- different types of rock reflect waves differently, much as a ball bounced on pavement will bounce higher than a ball bounced on sand. The returning waves are then measured by sensitive geophones, or jugs, strung out every 25 metres along the ground. Supercomputers process the data to generate a 2-D or 3-D picture of the underground structures. In the end, the only sure way to know if gas exists is to drill, but these days the final decision is based on much more than a hunch and a prayer, since so much is at stake: about $900,000, the average cost to complete a gas well in western Canada.
SNIFFED Natural gas at the wellhead contains a potentially poisonous contaminant called hydrogen sulphide, or H2S. Natural gas that contains more than 1% of it is called "sour" gas. It has a strong odour, similar to rotten eggs. About 30% of Canada's total natural gas production is sour, most of it found in Alberta and B.C. By contrast, discoveries in the Arctic and off the East Coast contain less than 1% H2S and are called "sweet." If the gas is sour, it is "sweetened" by converting up to 99% of the H2S into elemental sulphur for use in fertilizers and for export. The remaining H2S is flared, a controversial incineration process that results in the conversion of H2S to sulphur dioxide, which is released into the atmosphere. (An excellent account of the controversy can by found in Andrew Nikiforuk's book Saboteurs: Wiebo Ludwig's War Against Big Oil, to be published this month.) Whether sweet or sour, the natural gas used to heat our homes must be processed before it is pipeline-ready for shipment. Processing occurs at plants close to the production areas or at straddle extraction plants on major pipeline routes. In Canada, there are 837 processing plants, 756 of them in Alberta. The four largest processors are: Husky Energy Inc. (51 plants), Anderson Exploration Ltd. (49), Canadian Natural Resources Ltd. (47) and Conoco Canada Ltd. (35).
SQUEALED "Smart pigs" aren't actually pigs. They're sophisticated tools that travel inside pipelines checking for corrosion and evidence of stress or cracking in the pipe. Early versions were called pigs because they squealed as they moved inside the pipe. Propelled by the gas, they travel at speeds from 0.8 to 16 km per hour. Only about six companies in the world build and inspect pipelines with pigs, which have cost up to US$1 million for researchand development. Pigs range in size from 89 mm to 1.4 m in diameter and can be as long as 6 metres. Special pig "launch and trap facilities" are built along the length of the pipeline to allow for insertion and removal at various intervals.
TRAPPED In nature, natural gas, made predominantly of methane -- four hydrogen atoms attached to one carbon atom -- is found mixed with other hydrocarbons such as ethane, propane and butane, as well as hydrogen sulphide and carbon dioxide. Most experts believe the carbon and hydrogen came from microscopic plants and animals deposited with mud and silt at the bottom of ancient oceans. Over millions of years, the intense pressure and heat caused by growing layers of sediment transformed this organic material into crude oil and natural gas. The sediment itself eventually became porous sedimentary rock. Oil and gas migrate upwards through this rock because they are less dense than the seawater in its pores. You would see the same result if you put a mixture of gas, oil and water in a glass: they would separate according to their different densities. If the gas manages to reach the surface, it is released into the atmosphere. But often it will be stopped in its upward journey by impermeable rock formations, or cap rocks, that trap it in underground reservoirs.
SHIPPED Hidden a metre or more underground, a vast subterranean network of steel pipes and plastic tubes delivers natural gas from the wellhead to the consumer. Almost 80,000 km of gas pipelines link producers in the west to the populated regions of eastern Canada and the U.S. Efficient movement through the pipeline requires transmission at high pressure along the way. Propelled at speeds of up to 40 km per hour, it takes about three days for natural gas from Alberta to reach markets in southwestern Ontario. A voracious U.S. appetite for natural gas has sparked recent additions to the system, such as the $1.8-billion, 1,051-km Maritimes and Northeast pipeline that moves Sable Island gas from Nova Scotia to Dracut, Mass., and the $4.5-billion, 2,988-km Alliance pipeline that links B.C. and Alberta to the Chicago market.
MEASURED In the metric system, joules measure energy content. The joule was named after James Joule, an English physicist who co-discovered the law of conservation of energy: "Energy used up in one form reappears in another and is never lost." One joule is the amount of energy required to heat one gram of water by 1/4 degree Celsius. Since joules are so small, people normally speak in terms of gigajoules, or one billion joules. An average Canadian home would use about 150 GJ in a year, and one gigajoule on a particularly cold winter day. Producers and pipeline operators measure natural gas by volume using cubic metres (or cubic feet, just to confuse the issue). One cubic metre is the size of an average dishwasher. Canada is the third-largest producer of natural gas in the world, producing 162 billion cubic metres in 1999. No. 1 is the Russian Federation (551 billion), No. 2 is the U.S. (540 billion) and No. 4 is the U.K. (100 billion). According to Oilweek magazine, the top three Canadian producers in 2000 were: Alberta Energy Company Ltd. (gas revenues of $2.3 billion), PanCanadian Petroleum Ltd. ($1.6 billion) and Canadian Natural Resources Ltd. ($1.3 billion).
DISCOVERED The first natural gas discovery in Canada was at Stoney Creek, N.B., in 1859. The first commercial development came 30 years later, when entrepreneur Eugene Coste drilled a well that supplied communities in Essex County, Ont., near Windsor. By 1904, he had moved west, making history in 1909 with "Old Glory," so-called for the size of its flare, near Bow Island, Alta. This discovery was large enough to justify a 270-km-long, 40-cm-wide pipeline to Calgary, the longest of its kind at the time.
PRICED If Canada has so much natural gas, why did prices hit an all-time high of $16.90 per gigajoule in December 2000, up from $2.63 in January 2000? Simple supply and demand, combined with a cold winter and fears of low storage levels. Since then, prices have fallen to the $4.50 range, partly due to the economic slowdown. Matthew Foss, an economist with the Canadian Energy Research Institute in Calgary, predicts an average price of $3.50 per gigajoule this winter, since storage facilities are at near capacity and new drilling is proceeding: about 13,000 gas wells by year's end.

Heating Bills This Winter to Ease Sharply Utilities: Lower natural gas prices are reducing costs for Californians, but reliance on imports could be a problem in the long run, studies say.
NANCY RIVERA BROOKS

09/27/2001
Los Angeles Times
Home Edition
Page C-1
Copyright 2001 / The Times Mirror Company
Winter heating bills in California will be substantially smaller than the swollen tabs of last year because of sharply lower natural gas prices and plentiful supplies, utilities said Wednesday.
But the longer-term picture for consumers is not as rosy, despite the recent decline in wholesale natural gas prices.
Two reports released this week warn that California's heavy reliance on imported natural gas, which fuels most of the state's power plants in addition to fulfilling most of its heating needs, could be setting the state up for future energy crises.
For now, the wholesale price of natural gas is dropping along with most fossil fuels, and supplies are plentiful. Natural gas futures slumped to a 2 1/2-year low Wednesday after an industry report showed a bigger-than-expected jump in U.S. inventories.
The American Gas Assn. said supplies in storage rose 3.3% last week to 2.848 trillion cubic feet, continuing a steady build made possible by reduced demand from manufacturers.
In response, natural gas for October delivery fell 9.5 cents, or 4.9%, to $1.83 per million British thermal units on the New York Mercantile Exchange. Prices have dropped 82% from a Dec. 27 record of $10.10 per million BTU, caused by scant supplies.
Prices in California, which imports 85% of its natural gas from other U.S. states and Canada, peaked much higher in December at about $60 per million BTU. California wholesale prices now are hovering close to the Nymex price.
California was clobbered harder last winter than the rest of the country for several reasons: colder-than-usual weather, heavy use by in-state power plants and reduced pipeline capacity caused by a deadly explosion. In addition, state regulators accused a major pipeline operator, the El Paso Natural Gas unit of El Paso Corp., of manipulating the market; federal regulators have not yet ruled on that case.
"The message this year is much better than it was at this time last year," said Anne Smith, vice president for customer service at Southern California Gas, a subsidiary of San Diego-based Sempra Energy. Southern California Gas' more than 5 million customers paid record prices last year, as did the customers of Sempra's San Diego Gas & Electric and PG&E Corp.'s Pacific Gas & Electric.
Unlike with electricity, the price of natural gas is not fixed for residential and small-business customers. The gas utilities pass along the commodity price to customers with no markup.
Last winter, which runs from November to March in the utility world, the average residential customer of Southern California Gas got a monthly bill of $80. This winter, the average bill is expected to be about $60, Smith said.
The basic commodity cost for natural gas sold to its residential customers for this October, for example, will be 15.9 cents per therm, compared with 57.04 cents last October. (A therm is one-tenth the standard wholesale measure of 1 million BTUs, or about 100 cubic feet of gas.)
Transmission costs, which remain fairly constant year to year, average about 40 cents per therm for the company's residential customers. (The average single-family home uses about 75 therms a month.)
PG&E projects similar cost declines, and both utilities say they have plenty of gas in storage to meet the needs of their core residential and small-business customers.
But problems loom with California's natural gas supply system, according to studies released this week by the California Energy Commission and the California Public Interest Research Group.
The two studies agree that heavy demand has strained the state's delivery and storage systems, but otherwise they had little in common.
The final draft of the Energy Commission staff report, released Monday, noted that utilities already are moving to expand or build new pipelines, and recommended that the state encourage the drilling of more natural gas wells and expansion of pipeline systems within California, among other things.
The CalPIRG report, released Wednesday, advocates that the state deny licenses to any new power plants fueled by natural gas and to encourage renewable energy production through favorable taxation and by requiring that a minimum of 20% of the state's electricity come from wind, solar and geothermal sources by 2010.
"Natural gas is cleaner than other fossil fuels," said CalPIRG's Brad Heavner, the report's author. "But it's not a magic bullet, and by relying on it we are setting ourselves up."

USA: FERC OKs Tuscarora natgas pipeline for Nev, Calif.

09/26/2001
Reuters English News Service
(C) Reuters Limited 2001.
WASHINGTON, Sept 26 (Reuters) - Tuscarora Gas Transmission Co. won preliminary approval on Wednesday from the Federal Energy Regulatory Commission to build a pipeline to ship natural gas to local distribution companies and electric power plants in Nevada and California.
The pipeline and related facilities would carry up to about 96 million cubic feet per day of natural gas.
The agency must still determine the environmental impact of the pipeline before making a final decision on the project.
Tuscarora owns an interstate natural gas pipeline system that begins at a connection with PG&E Gas Transmission-Northwest Corp., located near Malin, Ore., and extending southeasterly for 229 miles to its terminus in Storey County, Nevada, at the Tracy Power Plant. The power plant is owned by Sierra Pacific Power Co., an affiliate of Tuscarora.
Shipments in the pipeline would be phased in over a two-year period beginning in November, 2002.
Tuscarora Gas Transmission Co. is a partnership between Sierra Pacific Resources and TransCanada Pipelines Ltd.


----- Forwarded by Dan Lyons/HOU/ECT on 09/21/2000 09:29 AM -----

	Heather Kroll
	09/21/2000 09:20 AM

		 To: Dan Lyons/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT
		 cc:
		 Subject: Revised Term Sheet


-----Original Message-----
From: 	Adamik, Darren P.
Sent:	Friday, May 18, 2001 2:18 PM
To:	Marshall, Lucy; Slaughter, Sally; Resendez, Rosalinda; Candella, Therese; Black, Tamara Jae; Guerra, Claudia; Chapman, Christy; Gardner, Stephanie; Harvey, Claudette; Collins, Angie; Coneway, Betty J.; Ford, Yolanda; Underwood, Jody; Darrah, Jacqui; Weatherly, Stacy; Taylor, Helen Marie; Choate, Heather; Hogan, Irena D.; Saldana, Alex; Dent, Rochelle; Montemayor, Perla; Rangel, Ina; Young, Becky; Vuittonet, Laura; Hardy, Kimberly; Presas, Jessica; Quezada, Daniel; Arteaga, Airam; Bates, Kimberly; Taylor, Liz; Burns, Jennifer; Schoppe, Tammie; Ford, Sue; Maronge, Bridget; Brown, Carol Ann; Dalton, Dorothy; Estrada, Mercedes; Adams, Tracy; Gipson, Kischa
Cc:	Knight, Robert; Cummings, David A.; Hill, Ben; Peebles, Leslie; Dornak, Tom; Alvarado, Tony; White, Steve
Subject:	Broadcast Message - Trading Floor Stentofons (Reminder with CHANGES!!!)
Importance:	High

 *  *  *  *  *    NOTE:  PLEASE READ THE FOLLOWING...   *  *  *  *  *

With ECS (Enron Center South) rapidly approaching completion, Enron is forced to change the numbering scheme on the existing Stentofon system.  To increase our capacity to support this expansion, we must increase the number of valid Stentofon address numbers.  Enron currently uses 100, 200, 300, 400, 500, 600 and 900 series numbers for the addresses.  In order to add more addresses to the system, Enron will be converting the dial plan from a three digit dialing system to a four digit dialing scheme on the Stentofon system.  This conversion is scheduled to occur on the weekend of May 18th.

In efforts to minimize the number of times each user will change their number, we will be converting all Stentofon addresses in EB1 that are scheduled to move into ESC this year to a 5000 series number.    (i.e.  If your Stento number was 364, then your new number will be 5364.)  We will also change all speed dials to reflect the new dialing scheme.  Please instruct the users within your group of this change.

All Enron Broadband Stentofons will have their numbers changed to a 4000 series number.  (i.e.  If your Stento number was 576, then your new number will be 4576.)

In summary, all Stentofon numbers will be changing this weekend.  If you are scheduled to move into ECS, then your Stento number will begin with a '5' and if you are to remain at EB1, then your Stento number will begin with a '4'.

Please inform all users of the Stentofon System of this change and pass this information to anyone that needs it.

Thank you for your understanding and cooperation.

Regards,
Darren Adamik
Mgr.-Trading Technology
Enron Net Works, LLC
713.853.4764 Office
713-853-9828 Fax
mailto:darren.p.adamik@enron.com


Start Date: 1/21/02; HourAhead hour: 1;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012101.txt
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Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


fax is 415.782.7854.


David,

Another trip in the cards. You can catch me at the office on wed
or next week at home.

Vince

"Walkup, David C (HOUSTONAS AS 582)" <dwalkup@pclient.ml.com> on 04/03/2000
03:43:31 PM
To: "'Vince.J.Kaminski@enron.com'" <Vince.J.Kaminski@enron.com>
cc:
Subject: RE: Hello

I am tentatively planning on being in The Woodlands Wednesday.  Should I
stop by the house that night or do we need to get together tomorrow or
Wednesday morning?
David C. Walkup
Financial Consultant
713-658-1685
800-456-9712

> ----------
> From:  Vince.J.Kaminski@enron.com[SMTP:Vince.J.Kaminski@enron.com]
> Sent:  Monday, April 03, 2000 4:35 PM
> To:  dwalkup@pclient.ml.com
> Subject:  Re: Hello
>
>
> David,
>
> Can you stop by on Wednesday?
>
> I shall be gone for a few days after this day.
>
> Vince
>
>
>
>
>
> "Walkup, David C (HOUSTONAS AS 582)" <dwalkup@pclient.ml.com> on
> 04/03/2000
> 01:21:45 PM
>
> To:   "'Vincent Kaminski'" <vkamins@enron.com>
> cc:
> Subject:  Hello
>
>
> Hello, Vince.
>
> I guess you are still traveling a lot.  I just wanted to say hello and see
> when we can get together and look at getting some more money deposited
> into
> the CMA for future investments.
>
> Get back with me when you can.
> David C. Walkup
> Financial Consultant
> 713-658-1685
> 800-456-9712
> ____________________________________________________________
>
>
>
>
> CAUTION: Electronic mail sent through the Internet is not secure and could
> be intercepted by a third party.  For your protection, avoid sending
> identifying information, such as account, Social Security or card numbers
> to
> us or others.  Further, do not send time-sensitive, action-oriented
> messages, such as transaction orders, fund transfer instructions, or check
> stop payments, as it is our policy not to accept such items electronicall
>
>
>
>
>
>
____________________________________________________________

CAUTION: Electronic mail sent through the Internet is not secure and could
be intercepted by a third party.  For your protection, avoid sending
identifying information, such as account, Social Security or card numbers to
us or others.  Further, do not send time-sensitive, action-oriented
messages, such as transaction orders, fund transfer instructions, or check
stop payments, as it is our policy not to accept such items electronicall


Glad you wrote, since I need to send you this option agreement for your
review:

I will chase down the fax and give it a look.

Thanks,

Kay


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give me a call: at home 743-807-7507,,,,,,mobile: 281-381-7332......

giddy

mc


Please work with Energy Operations to determine where it went and if we sole it or if is still on the pipe.  The priority should be based on your judgment.
Ed

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, March 11, 2002 4:38 PM
To:	McMichael Jr., Ed
Cc:	Mann, Kay; McMichael Jr., Ed; Dicarlo, Louis; Dhont, Margaret; Polsky, Phil; Boyt, Eric; Parks, Joe; Melanie Gray (E-mail)
Subject:	RE: Letter re Unpaid Invoice for Post petition Deliveries

Ed, this gas was nominated on an IT contract into a pool on NGPL.  I am unable to identify the gas after that so its difficult for me to tell if the estate benefited.  Let me know what you want to do at this point.

Thanks

 -----Original Message-----
From: 	melanie.gray@weil.com@ENRON
Sent:	Wednesday, March 06, 2002 3:30 PM
To:	Germany, Chris
Cc:	Mann, Kay; McMichael Jr., Ed; Dicarlo, Louis; Dhont, Margaret; Polsky, Phil; Boyt, Eric; Parks, Joe
Subject:	RE: Letter re Unpaid Invoice for Post petition Deliveries

Assuming all of what is below is all correct, it appears that TDC is
entitled to payment.  The question with administrative priority is whether
the the estate benefitted.  If we took the gas, I assume that we did.
THanks.

"Germany, Chris" <Chris.Germany@ENRON.com> on 03/06/2002 02:38:33 PM
cc:    "Dicarlo, Louis" <Louis.Dicarlo@ENRON.com>, "Dhont, Margaret"
       <Margaret.Dhont@ENRON.com>, "Polsky, Phil"
       <Philip.Polsky@ENRON.com>, "Boyt, Eric" <Eric.Boyt@ENRON.com>,
       "Parks, Joe" <Joe.Parks@ENRON.com>, Melanie Gray/HO/WGM/US@WGM
Subject:    RE: Letter re Unpaid Invoice for Post petition Deliveries

3/6/02 2:30 PM just spoke with Louis Schott (504-529-3630  Sr. Vice
President & General Counsel for TDC) - TDC has not filed a claim with the
courts at this time.  TDC is trying to avoid the administrative expense and
expects to be paid $203,196.00.  I told him I would call him back Friday
afternoon and give him a status update.  Please let me know what I can tell
him.  This was an ENA deal.

>  -----Original Message-----
> From:     Mann, Kay
> Sent:     Wednesday, March 06, 2002 2:02 PM
> To: Germany, Chris; McMichael Jr., Ed
> Cc: Dicarlo, Louis; Dhont, Margaret; Polsky, Phil; Boyt, Eric; Parks,
Joe; 'melanie.gray@weil.com'
> Subject:  RE: Letter re Unpaid Invoice for Post petition Deliveries
>
> If is was an ENA deal, the Dec. 3 is correct post-petition date.
>
> I don't have anything on my list from TDC.  Won't hurt to call them
anyway.
>
> Kay
>
>      -----Original Message-----
>     From:       Germany, Chris
>     Sent: Wednesday, March 06, 2002 11:13 AM
>     To:   McMichael Jr., Ed; Mann, Kay
>     Cc:   Dicarlo, Louis; Dhont, Margaret; Polsky, Phil; Boyt, Eric;
Parks, Joe
>     Subject:    FW: Letter re Unpaid Invoice for Post petition Deliveries
>
>     Summary:  TDC Energy Corporation is requesting payment of $203,196.00
from ENA for post-petition gas that flowed in the month of December 2001
(sitara deal #1143983).  TDC stated that it would "file a claim for
administrative expenses in the bankruptcy court in New York and seek all
other necessary relief against ENA" if ENA did not remit payment by the
close of business Feb 22, 2002.  Based on the information in this email it
appears that ENA should pay TDC $203,196.00.
>
>     Kay, Ed, Question:  I have not contacted TDC to determine if they
have filed a claim with the court.  Would that have any impact on making a
payment to TDC?  Should I contact TDC?
>
>
>     Calculation of Post-Petition Payment using Dec 3 as Post-Petition day
>     Gas scheduled Dec 3-24, 26-31 = 28 days, volume = 3,000 dth per day
>     28 x 3,000 x $2.419 = $203,196.00
>
>
>      -----Original Message-----
>     From:       Olinger, Kimberly S.
>     Sent: Thursday, February 28, 2002 4:35 PM
>     To:   Germany, Chris
>     Subject:    RE: Letter re Unpaid Invoice for Post petition Deliveries
>
>     we took 3000 a day everyday except the 25th
>
>            -----Original Message-----
>           From:       Germany, Chris
>           Sent: Thursday, February 28, 2002 4:26 PM
>           To:   Olinger, Kimberly S.
>           Subject:    FW: Letter re Unpaid Invoice for Post petition
Deliveries
>
>           I need your expertise.  If ENA nominated this gas, and I think
we did based on what I see in Unify, then we are supposed to pay for it.
So I just need to verify with you  we TOOK this gas by nominating it.
>
>           Deal 1143983 on Natural Gas Pipeline Company.
>
>           thanks
>
>            -----Original Message-----
>           From:       Ellenberger, Mary
>           Sent: Monday, February 25, 2002 4:01 PM
>           To:   Germany, Chris
>           Subject:    RE: Letter re Unpaid Invoice for Post petition
Deliveries
>
>
>                 Sitara# 1143983
>
>                  -----Original Message-----
>                 From:       Germany, Chris
>                 Sent: Monday, February 25, 2002 1:21 PM
>                 To:   Ellenberger, Mary
>                 Subject:    FW: Letter re Unpaid Invoice for Post
petition Deliveries
>
>                 Do you have a deal number for this gas?
>
>                  -----Original Message-----
>                 From:       Dicarlo, Louis
>                 Sent: Monday, February 25, 2002 11:30 AM
>                 To:   Germany, Chris
>                 Subject:    FW: Letter re Unpaid Invoice for Post
petition Deliveries
>
>
>
>                  -----Original Message-----
>                 From:       Dicarlo, Louis
>                 Sent: Friday, February 22, 2002 10:30 AM
>                 To:   Mann, Kay
>                 Subject:    RE: Letter re Unpaid Invoice for Post
petition Deliveries
>
>                 I contacted Mary Ellenberger.  She indicated we did
receive the gas but have not paid.  I suggested that she contact you via
email.
>
>                        -----Original Message-----
>                       From:       Mann, Kay
>                       Sent: Friday, February 22, 2002 9:50 AM
>                       To:   Dicarlo, Louis>
>                       Cc:   McMichael Jr., Ed; Boyt, Eric
>                       Subject:    RE: Letter re Unpaid Invoice for Post
petition Deliveries
>
>
>                       Have we determined if the facts in the letter are
correct?  I've confirmed that if the facts are true, the payment needs to
be made.
>
>                       Kay
>                        -----Original Message-----
>                       From:       Mann, Kay
>                       Sent: Wednesday, February 20, 2002 5:19 PM
>                       To:   Dicarlo, Louis
>                       Cc:   McMichael Jr., Ed; Boyt, Eric
>                       Subject:    RE: Letter re Unpaid Invoice for Post
petition Deliveries
>
>                       All I need to know is if ENA received the gas as
stated, and if there are any extenuating circumstances which would keep us
from paying.  Otherwise I believe we need to make payments in accordance
with the terms of the deal.  I'll confirm.
>
>                       Kay
>
>                        -----Original Message-----
>                       From:       Dicarlo, Louis
>                       Sent: Wednesday, February 20, 2002 5:14 PM
>                       To:   Panus, Stephanie; Mann, Kay
>                       Cc:   McMichael Jr., Ed; Boyt, Eric
>                       Subject:    FW: Letter re Unpaid Invoice for Post
petition Deliveries
>
>                       Attached is a demand letter w/ short time fuse.
Counterparty wants payment for post-petition gas delivered to Enron.
Please advise if you need commercial involvement.  Thanks
>
>                        -----Original Message-----
>                       From:       Louis Schott <Louis@tdcenergy.com>
@ENRON
>                       Sent: Wednesday, February 20, 2002 4:07 PM
>                       To:   Dicarlo, Louis
>                       Subject:    Letter re Unpaid Invoice for Post
petition Deliveries
>
>                        - February 19 2002letter to enron north
america.DOC << File: February 19 2002letter to enron north america.DOC >>

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate
and may contain confidential and privileged material for the sole use of
the intended recipient (s). Any review, use, distribution or disclosure by
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==============================================================================


Shankman was pushing something with a Citibank sub about 3 months ago.  I
think we were waiting on information from them.

Russell/Brant - please call their contact and request credit information on
the Citibank sub.  Let John Arnold know where we stand after your
discussion.  Loop in Paul for any credit analysis associated with hedge
funds.

Keep me apprised as well.

Bill

From:  Mary Tudon
08/04/2000 09:11 AM

To: Russell Diamond/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, John
Suttle/HOU/ECT@ECT, Paul Radous/Corp/Enron@ENRON, William S
Bradford/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT
cc: Tana Jones/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT
Subject: ISDA with Citibank Subsidiary

Everybody,

Tanya suggested I ask all of you if you know anything related to a hotline
call I took yesterday afternoon.  I got a call from John Arnold who wanted to
know who was working on getting an ISDA in place with a subsidiary of
Citibank. He thought it was a hedge fund, he wasn't sure.  He said that they
were getting very impatient to start dealing with us.  He left a contact for
Citibank:  Jerry Peskuchi (212) 723-7065, who wants to be updated on the
status of the master.

Sorry I didn't bring this up in the morning meeting, but please let me know
if any of you know anything about this, because I had no idea who to direct
his call to and could only promise to try and find the right person handling
this and pass the info on.


Megan,

I changed the demand fee for Jan.  It looks like Trisha has changed the
Transport ticket for the $.11.  I agree with the header charges.

D

	Enron North America Corp.

	From:  Megan Parker @ ENRON                           03/14/2001 03:47 PM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Re: Tenaska IV 1/01

TXU revised their rates for Jan 2001. They are now billing us at $0.10 and
$0.08 for contract 1671.  This was previously billed all at $0.10.  Please
change the demand fee on deal 384258 from $3,841,888.11 to $3,830,131.18.

Also, I spoke to TXU about the rate on contract 1856 (deal 452475).  They
have been billing us $0.11 and we have $0.10.  The extra cent is for the El
Paso header fee.  The pricing you gave me is for contract 1671, but also has
the header fee if you look on page 5 of 6.  You'll see a a section called
"Compression & Header Expense if Utilized".  The current rate for 1856 is
$0.01 and 0% fuel.  I will leave a copy of the contract in your chair.

Thanks,
Megan

Daren J Farmer@ECT
03/13/2001 10:54 AM
To: Megan Parker/Corp/Enron@ENRON
cc:

Subject: Re: Tenaska IV 1/01

I have made the changes mentioned below.  I've also adjusted the spreadsheet
based on our conversation yesterday.  Take a look at it when you get a chance.

D

	Enron North America Corp.

	From:  Megan Parker @ ENRON                           03/13/2001 09:06 AM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Tenaska IV 1/01

We need to change the demand fees for Tenaska IV based on actuals for Jan
2001.   Tenaska owes us some additional money.  I have attached my netting
spreadsheet if you need it.

Deal 514353  Change MMBtu from 45,000 to 46,113
Deal 384258  Change amount from $3,934,644.50 to $3,841,888.11

I got your message regarding Apache.  I will just leave the pay the lesser
ofs there until they come back for it.   Also, Mark checked with TXU and we
do not have the rights to get dailies for the Tenaska meters.  He said that
only the interconnecting pipes get dailies.  For the spreadsheet, I am just
going to prorate the actuals based on the noms.

I will let you know when we receive the payment from Brazos for Feb 2001, so
you can enter the demand fee to forward the cash to Tenaska IV.

Thanks,
Megan


The schedule is attached.  I will remind you a few days in advance to let you
know which games you have tickets to.

Laura


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I have it at home but I will bring it in and make a copy for you this week.
sg

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Wednesday, January 23, 2002 10:38 AM
To:	Glover, Sheila
Subject:	mike moran

Sheila, while I think of it, I misplaced the info I gave you about the deferral plan contacts.  Can you make a copy for me?  thx

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


---------------------- Forwarded by Darron C Giron/HOU/ECT on 04/06/2001
11:08 AM ---------------------------
From: Veronica Espinoza/ENRON@enronXgate on 04/06/2001 08:59 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report--4/6/01


Time Slots Available on Wednesday

Bob Brooks will be in Houston next week for training and demonstration of
the GPCM Natural Gas Market Forecasting System.  There are still two time
slots available on Wednesday, December 20.  If you would like to meet with
Bob, please contact him at mailto:rebrooks@rbac.com or 323-663-4831.

From http://www.enerfax.com:

Canadian Arctic Natural Gas Development Proceeds

   Oil companies that are planning to tap the vast natural gas
reserves in the Canadian Arctic say they will soon move past the
study stage and could start preparing a regulatory application for a
multibillion-dollar pipeline early next year. The group, which
includes Imperial Oil, Gulf Canada Resources, Shell Canada and Exxon
Mobil, started studying how to develop the 6 Tcf of reserves in the
Mackenzie Delta region of the Northwest Territories about a year ago.
Over the past year, other oil companies have amassed large land
positions in the region, expecting a pipeline with a capacity of more
than 1 Bcf per day to be built to southern markets along the
Mackenzie River Valley. At the same time, major oil companies led by
BP Amoco are formulating plans for developing their own reserves at
Prudhoe Bay in northern Alaska, along with a pipeline. Last week, BP,
Exxon Mobil and Phillips said they had joined forces to study
construction of a pipeline to tap over 35 Tcf of Alaska natural gas.
Industry debate has centered on which resources would be developed
first, and whether they need to go ahead together. Governments,
companies, northern communities and aboriginal groups all have stakes
in any development that takes place, and the most optimistic guess as
to when volumes could start flowing is at least five years. The
Imperial-led group says it has already carried out extensive and open
discussions with more than 70 parties representing a variety of
interests. Imperial said the study was aided by the consortium's
relationship with the Aboriginal Pipeline Group, which represents
more than 30 native leaders from the Northwest Territories.
Meanwhile, the group had examined various issues related to pipeline
funding and ownership, with the aim of making capacity available to
all producers in the region. In addition, the companies drew up a
draft regulatory road map to streamline that process.

Natural Gas Storage

    The AGA is expected to report that natural gas storage levels
decreased by about 150 to 180 Bcf when its report is released this
afternoon. Last week, the AGA reported storage at 2,429 Bcf for the
week ending December 1st, down 73 Bcf from the previous week, and
down 503 Bcf  from 1999. With blizzard conditions across much of the
nation this week, next weeks withdrawal is expected to be even
larger, likely exceeding 200 Bcf. If that is the case, storage levels
could drop below 2 Tcf before winter even officially begins. The AGA
reported a 73 Bcf withdrawal for the comparable period a year ago.
The five-year average is 68 Bcf. Last week, the producing region's
storage decreased 11 Bcf to 611 Bcf, 64% of capacity. Producing
storage levels are now 226 Bcf below a year ago. The eastern
consuming region had a withdrawal of 57 Bcf to 1,495 Bcf, 81% of
capacity and 163 Bcf below a year ago. The western region storage
levels decreased by 5 Bcf to 323 Bcf, 64% of capacity. Western region
storage levels are now 114 Bcf lower than a year ago.

TETCO Plans Incremental Expansion Project for Mid-Atlantic and Northeast

    Texas Eastern Transmission plans an open season for its Texas
Eastern Incremental Market Expansion, or TIME, a new project to bring
additional supplies of natural gas to the growing mid-Atlantic and
Northeast markets. TIME will combine unsubscribed existing capacity
with incremental firm capacity to create a low-cost expansion option
for Texas Eastern shippers. During the open season from December
11th  January 12th, shippers can submit non-binding nominations to
move volumes from the Gulf Coast, Chicago/Lebanon lateral and other
receipt points on the TETCO system to delivery points in the
Northeast.  By utilizing existing capacity that initially served
Midwest markets, TIME will enable TETCO to reconfigure its existing
pipeline system and with modest additions to existing facilities
provide significant increased capacity to mid-Atlantic and Northeast
markets at existing approved rates. In recent years, the Northeast
and mid-Atlantic markets have experienced renewed growth in
traditional markets as well as the construction of new electric
generation.  With its ability to bring the capacity to market
quickly, TIME is well-positioned to capture this growth.

Bob Brooks
GPCM Natural Gas Market Forecasting System
http://gpcm.rbac.com


The FERC staff report on western markets and the causes of the Summer 2000
Price Abormalities, entitled, Part I of Staff Report on U.S. Bulk Power
Markets, is available at the following website:
http://www.FERC.Fed.US/Electric/BulkPower.htm.  If you have any questions or
comments, please call Jack Cashin at 202/508-5499.


Please review the attached Response to RFB for the California Department of
Water Resources as soon as possible and let me know of any material changes
we need to make.

Although it is important to make the document as accurate and polished as
possible, we do not have the luxury of incorporating stylistic or similar
non-material changes at this time.

The format has changed somewhat from versions distributed earlier in order to
reduce the length of the cover letter.

Chris Calger will execute the letter.

Please provide any comments you have to me within the next 15 minutes (sorry
about that--the deadline is upon us).

Thanks.


Thank you.  Kim.

-----Original Message-----
From: Steve [mailto:great_star@msn.com]
Sent: Saturday, October 20, 2001 9:04 AM
To: Watson, Kimberly
Subject: RE: Bio for Mark Pickering

Kim,
Great find in replacing Bruce!

-----Original Message-----
From: Watson, Kimberly [mailto:Kimberly.Watson@ENRON.com]
Sent: Monday, October 15, 2001 10:04 AM
To: McAdoo, Jack V; Donovan, Bill; Fancler, Dan; James, Robert; Jones,
Robert W.- HR Exec; Kennedy, Phyllis R.; Langeland, Dianne; Steve
Havemann (E-mail); Sullivan, Michael; Tom Neville; Hugo, Gary;
Olszewski, Stephanie; Weir, Debra
Subject: RE: Bio for Mark Pickering

Hi everyone!

Attached, please find the resume of Mark Pickering who is the Chief
Technology Officer for Enron Net Works and is the lead candidate for
Bruce Stram's replacement on the board.  Please take a moment to review
his resume as we will discuss his candidacy for the board this evening.

Thanks, Kim.

 <<Enron Federal Credit Union - Pickering Bio.doc>>

>  -----Original Message-----
> From: 	McAdoo, Jack V
> Sent:	Saturday, October 13, 2001 12:18 PM
> To:	Donovan, Bill; Fancler, Dan; James, Robert; Jones, Robert W.- HR
> Exec; Kennedy, Phyllis R.; Langeland, Dianne; Steve Havemann (E-mail);
> Sullivan, Michael; Tom Neville; Watson, Kimberly; Hugo, Gary;
> Olszewski, Stephanie; Weir, Debra
> Subject:	Board Agenda
>
> The agenda for Monday's meeting is attached.
>
>  << File: Agenda 10,01.doc >>

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


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/31/2001
11:46 AM ---------------------------

Vincent Tang <tang_vincent@yahoo.com> on 03/30/2001 08:22:11 AM
To: Vince.J.Kaminski@enron.com
cc:
Subject: Recommendation letter

Hi, Dear Vince,

How is everything going?

I wonder if you have had a chance to write me the
recommendation letter yet.  The application deadline
is coming up.  If you need any more information for
writing the letter, please let me know.  Thanks for
the help.

Best Regards,

Vincent

__________________________________________________
Do You Yahoo!?
Get email at your own domain with Yahoo! Mail.
http://personal.mail.yahoo.com/?.refer=text


Apparently the link to the Senate website which contains information on
today's Senate Energy Committee hearing does not work.  Therefore, I have
cut and paste the document and attached it to my e-mail.

INFORMATIONAL HEARING

Proposed Rate Agreement Between The California Department
Of Water Resources And The California Public Utilities Commission

State Capitol, Room 2040

August 21, 2001
1:30 p.m.

----------------------------------------------------------------------------
----

I. Opening Comments

Senator Debra Bowen, Chairwoman
Senate Energy, Utilities & Communications Committee
Senator Bill Morrow, Vice-Chairman
Senate Energy, Utilities & Communications Committee
II. Panelists
Stan Dirks
California Department of Water Resources
Chris Warner
Pacific Gas & Electric
Gary Schoonyan
Southern California Edison
Jim Hay
San Diego Gas & Electric
Mike Florio
The Utility Reform Network
Dave Morse
Office of Ratepayer Advocates
Dan Carroll
California Industrial Users
Douglas Heller
Foundation for Taxpayer and Consumer Rights
Bill Julian
California Public Utilities Commission

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

BACKGROUND
At the peak of California?s electricity crisis, two of California?s
investor-owned utilities were financially unable to purchase electricity on
behalf of their customers. AB 1x (Keeley), Chapter 4, Statutes of 2001,
authorized the California Department of Water Resources (DWR) to begin
buying power on behalf of the customers of those two utilities and San Diego
Gas & Electric ratepayers, as well as to issue bonds to finance such
purchases. DWR wasn?t authorized to utilize the credit of the state to back
those purchases. Instead, it was authorized to recover the money needed to
pay for its electricity purchases through electric rates charged to
consumers and to perform is own "reasonableness review" of those costs. The
California Public Utilities Commission?s (CPUC) discretion to perform a
reasonableness review is rarely abrogated (an exception being the costs of
collective bargaining agreements), but AB 1x made an exception in this case
for two basic reasons: First, if the CPUC decided to preclude certain power
costs from being passed along to ratepayers, the effect would be to simply
shift those costs from ratepayers to taxpayers. Second, the goal of a
reasonableness review, which is to create an incentive to do the best
possible job, on behalf of the ratepayers could be accomplished through DWR?
s accountability to ratepayers. The theory was the political process would
provide the check on DWR?s activities much in the same way customers provide
a check on the activities of a municipal utility.

To fulfill its obligations under AB 1x, DWR spent $7.6 billion through May
2001. That money was originally loaned from the General Fund. In addition,
the state obtained a short-term bank loan of $4.3 billion to help pay for
ongoing electricity purchases. That short-term loan, the outstanding debt
owed to the General Fund, and the difference between actual electricity
costs and electricity rates paid to DWR will all be financed through a $12.5
billion bond offering, which was authorized by SB 31x (Burton), Chapter 9,
Statutes of 2001, and may take place as early as October. DWR has stated
that the bond offering is contingent upon the CPUC taking a number of
actions on August 23, 2001, one of which is to approve the DWR-constructed
Rate Agreement (Agreement) between DWR and the CPUC.

The Agreement provides the irrevocable contractual and enforceable assurance
that the CPUC will allow DWR?s electricity power purchase costs to be
recovered in a timely manner. Specifically, the Agreement:

Creates a Rate Covenant where the CPUC acknowledges DWR?s right to recover
its self-determined revenue requirement as specified;
Defines DWR?s revenue requirement to include the repayment of the bonds, the
cost of DWR?s electricity procurement, including the long-term contracts,
administrative, consulting and legal costs, and the cost of demand
management programs;
Requires the CPUC to establish rates to allow recovery of DWR?s revenue
requirement within 30 days or 90 days, as determined by DWR;
Authorizes DWR to take the CPUC to court to enforcement its provisions.
DWR has stated the Agreement is an essential element to obtaining the bond
financing. J.P. Morgan, the senior managing underwriter for the DWR bonds,
has similarly stated that without the Agreement, the bonds won?t be viewed
as investment grade quality, thereby jeopardizing the bond issuance.
The Agreement is currently being considered by the CPUC. A number of
parties, including small and large consumer groups who will be responsible
for paying the rates, along with the investor-owned utilities, have
commented on DWR?s proposed Agreement and raised a number of concerns. The
Treasurer has offered some suggested amendments to the Agreement to try and
answer some of the concerns without impairing his ability to sell the bonds.

Issues & Questions The Committee May Wish To Consider

Must an Agreement be Signed?

AB 1x permits the CPUC to enter into a rate agreement with DWR, but such an
agreement is not required by the statute. Given the irrevocable nature of
DWR?s proposed Agreement, is it necessary for the CPUC to approve the
agreement, or will some other, less binding agreement suffice? One alternate
approach to the Agreement is SB 18xx (Burton), which provides a dedicated
rate to pay for the bonds and specifies exactly what DWR may include as a
part of its costs. SB 18xx passed the Senate 35-2 on July 20, 2001, and is
pending at the Assembly desk.

Public Review

DWR?s revenue requirement, at least as it pertains to power purchase costs,
bond repayment, and associated administrative costs, clearly isn?t subject
to CPUC review or adjustment pursuant to AB 1x. Rather than have an
independent party like the CPUC review its efforts, AB 1x envisioned that
public review and accountability would motivate DWR to do the best possible
job to get the best value possible for ratepayers. However, the Agreement
neither contemplates nor provides for public review, which has raised
concerns from a number of parties about what costs beyond the cost of buying
power DWR is attempting to pass along to ratepayers as a part of the
Agreement.

Scope of Revenue Requirement

AB 1x specifically permits DWR to cover the cost of the bonds, power
purchases, and associated administrative costs. The Agreement submitted by
DWR to the CPUC for adoption allows DWR to recover much more than those
costs, including the cost of demand management programs and legal,
consulting, and technical services. By including such costs in the
Agreement, these costs are subject to neither legislative nor public review.
The demand management programs have historically been the purview of the
CPUC. (The California Independent System Operator has attempted this year to

create and administer some of these programs with mixed success.) However,
DWR has no background in demand management and no public process for
considering and approving such programs. Given the lack of a public process
and DWR?s lack of expertise on demand management programs, is it appropriate
to allow DWR to include the unknown costs of these programs in the
Agreement?

30 and 90 Day Review

The Agreement requires the CPUC to review and implement rates which allow
DWR to recover its revenue requirement within 90 days, or 30 days if DWR
finds that an expedited change is necessary. This is an extremely short
window of time for the CPUC to analyze any DWR request and provide for full
public review and comment.

Auditing

DWR?s revenue requirement will be tens of billions of dollars which will be
paid for exclusively by the ratepayers of the state?s investor-owned
utilities. Despite the fact that billions of dollars will be changing hands,
the Agreement fails to include an auditing requirement to ensure that
appropriate revenues are provided to DWR, that surplus revenues are returned
to ratepayers, and that there is ongoing monitoring of DWR?s accounts.

Court Challenges

The purpose of the rate agreement is to facilitate the issuance of the bonds
to repay the General Fund and the short-term loan. It?s possible that some
party may challenge this Agreement or any of the other related CPUC
decisions (i.e. establishing the DWR revenue requirement, creating a
servicing agreement between DWR and the utilities, etc.), in either federal
or state court. How will such a challenge effect the issuance of the bonds?

Contract Renegotiation

The DWR contracts, negotiated at the height of the energy crisis, are viewed
by some as expensive. The state and ratepayers would certainly be better off
if those contracts can be renegotiated based upon current circumstances. The
Agreement binds the CPUC to set rates sufficient for DWR to recover its
revenue requirement, including the cost of the contracts it has already
signed. Does the signing of this Agreement diminish DWR?s ability or
incentive to renegotiate any of the contracts? Does it eliminate any
incentive DWR has to negotiate the best possible price on any future
contracts that it may sign, since the costs of those contracts won?t be
subject to review or adjustment?


Jeff,

Per your request from our meeting last week, the following is a summary of
the required distribution of violation memos per the Risk Management Policy
for NA Natural Gas:

        Plus:   Plus:
     Ted Murphy  Jeff Skilling  Ken Lay
     John Lavorato Rick Buy

Position    300 - 315 Bcf  315 - 330 Bcf  > 330 Bcf

12 Month Rolling Position  350 - 367.5  367.5 - 385  > 385

Value at Risk    $40 - 42 MM  $42 - 44 MM  > $44 MM

In addition to the above policy requirements, Mark Frevert and Joe Sutton
have asked to be copied on all violation memos and loss notification memos.

Loss notification memos are also required as follows:
         Plus:
     Skilling   Lay
     Buy
     Murphy
     Lavorato

Daily Loss    50% - 75% of VAR Limit  > 75% of VAR Limit  (VAR Limit = $40 MM)

5-Day Cumulative Loss   75% - 100% of VAR Limit > VAR Limit

Please call me if you have any questions.

Mike
x-35242


pls print and hand to me.  thanks. dF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 05/01/2000
12:18 PM ---------------------------

	From:  Bob Chandler                           04/27/2000 10:54 AM

To: Mary Kay Miller/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Kent
Miller/ET&S/Enron@ENRON
cc: Rod Hayslett/FGT/Enron@Enron, Larry Swett/ET&S/Enron@ENRON, Dan
Fancler/ET&S/Enron@Enron, Glen Hass/ET&S/Enron@ENRON, Tim
Kissner/ET&S/Enron@ENRON, John W Rose/ET&S/Enron@ENRON

Subject: Storage Creep Accounting Procedure

Attached is a draft of the referenced procedure for your review.  It is
subject to attorney client privilege.  Please advise if you have any edits we
need to make.  I believe this reflects the understanding we reached during
our teleconference concerning this issue.


John, unfortunately Carrin and I will be in Austin on that date in connection with UT Law School business.  I hope you and Debbie will give us a rain check.  All the best. Jim

 -----Original Message-----
From: 	"Keffer, John" <JKeffer@KSLAW.com>@ENRON [mailto:IMCEANOTES-+22Keffer+2C+20John+22+20+3CJKeffer+40KSLAW+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Friday, May 11, 2001 10:49 AM
To:	Derrick Jr., James
Subject:	Astros on June 1

Jim-would you and Carrin like to join Debbie and me for the Astros game
against LA on June 1?

Regards

John

                    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.


Positive Living Tip of the Day
		Monday January 29, 2001

		Your Environment

		Do you live or work in an environment that creates undue stress in your life?

		If so, realize your environment plays an important role in your life. Hostile
environments create defensiveness, and an individual's negative behavior can
directly affect others who are trying to maintain a healthy attitude.

		For example, if you are working with a supervisor who constantly berates
those under him/her in front of others, this negative behavior affects
everyone in the office. And hanging around negative friends and family
members can reinforce your own negative traits. (For example, your temper is
under control as long as you are not around your older brother.) In addition,
negative people can induce others into developing the same negative attitudes
and behaviors that they possess. It is true the company you keep is a
reflection on you and can influence your behavior. Steer clear of negative
environments and begin building a positive life.

		- CG, Licensed Clinical Professional Counselor


Attached is a summary of distributed generation proceedings in other states
and venues (such as IEEE, utilities, etc).


Both letters are fine.  Please arrange dates for the Chairman to come to
Houston.  Thanks for all of your help.  Mark


Dear juan,

FriedWire Inc has just released a new version of our Traffic Report.  Below
is a snapshot of the new content:

NEW EMERGENCY MAPS-
We have added more than a hundred transmission elements (e.g. flowgates,
transformers, power plants now totaling over 500!)
to our geographic representation of TLR's and other market-moving
announcements.  To handle the increased resolution, we
have developed two new maps that replace the Emergency Constraints map,
providing even more information for users to easily
digest in a color-coded, geographic snapshot.

Now, the Emergency (TLR) map shows the entire U.S. with small white dots in
the background that represent all the flowgates
that are experiencing satisfactory conditions.  Overlaid are larger
color-coded dots signaling the flowgates that have some
TLR level associated with them.  The new TLR map will have greater
differentiation than the old one, with TLR levels from 1
to 6 represented.  When you click on one of the colored dots, you will see
the name of the element and the TLR level in a
pop-up box.  The Market Notices map still has the regions colored when there
is a market notice associated with them.  You
can click on a region and get a pop-up text box with the full text of the
regional notice.

CALIFORNIA ISO-
We have added the ability to look at the system frequency for a day or an
hour in the Frequency Monitoring in WSCC
(deviation from 60Hz) area of the System Summary page.

We have also added Generator Outages in California.  This lists all generator
outages, including unplanned and planned, with
additional data fields detailing the name, owner, and zone of curtailed units
plus the amount of capacity affected.

POWER FLOWS-
We now have more information displayed on the time series flow graph for each
intertie on the Intertie Profile screen under
the Power Flows tab.

When a transmission line or intertie is affected by a TLR request, the black
line on the time series graph (which represents
flow under normal conditions) is overlaid with a bold color corresponding to
what TLR the line is experiencing.  Thus, the
historical context provided by the graph for intertie flow over the past day,
week, month, or year, is even more intuitive
and informational with the help of easy-to-read color coding, reflecting TLR
history as far back as a year.  If you want
more information about the intertie's past TLR's, simply scroll down to the
history of market notices associated with that
physical transmission element.

We have also revisited the ways in which flow direction can be interpreted.
We now provide a clear picture of the magnitude
AND direction of power.

1.)  In the power flow time series graph, the limit of the intertie and the
flow on the intertie will now always show
consistent signs.

2.)  In the Power Flow Data table above the graph, the Flow MW will always
appear positive.  This flow magnitude is in fact,
the absolute value of the flow.  The Flow Direction, the left-most data field
on this row, is dynamic.  If the flow changes
directions, the text within that field will be modified accordingly.

3.)  The third place to get an immediate and intuitive sense of direction of
power flow is in the map to the left of the
graph on the Intertie Profile.  The arrow will always correspond to real-time
direction of power flow.

Look forward to a major new release soon.  We'll soon be rolling out links to
all OASIS nodes in our ATC tab, our new
flowgate impact calculator and more.

Take Care,

Bill Townsend
President
FriedWire Inc.


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

This is not Spam!
dutch.quigley@enron.com
*Subscribed *ConfirmedUNSUBSCRIBE HERE


We have instances where NEVP transmission is purchased daily,  but not used,
ie LV's unit goes down etc.
From  now on,   leave the mw's in Enpower on the transmission deal, even
though nothing flowed.      Please leave the mw's populated in the
transmission deal, as this transmission is take or pay.   Make a note in the
comments that we didnt flow for this hour.


Dan Leff's contact info for 12/22-12/30
Cell - 713-560-1508
Lake Placid - 518-523-1373 or Line 2 - 518-523-9870


The November 2000 EPSC & EIS Invoices are now available for your review at
the following locations:

 O:\Fin_Ops\EPSCInvoices\2000\00_11

 O:\Fin_OPs\EISInvoices\2000\00_11

The following deadlines apply for the November, 2000 invoices:

 December 15 , 2000  Rent and Related adjustments due to JoAnn Holloway

 December 20, 2000  All other adjustments due to me by NOON.
     All received after noon will be adjusted with the November. reclasses.

My location is EB 2420A and my extension is 3-6363.

 Thanks,

Keith


Great work.  Any indication that the publication of the Stanley investigation
is having any adverse effect?
----- Forwarded by Steven J Kean/NA/Enron on 11/26/2000 08:56 AM -----

	Richard Shapiro
	11/26/2000 07:53 AM

		 To: Robert Hemstock/CAL/ECT@ECT
		 cc: Steven J Kean/NA/Enron@Enron
		 Subject: Re: Update - Proposed Alberta Power Pool Rule Changes

Great news and congrats!

Robert Hemstock@ECT
11/26/2000 01:19 AM
To: Richard Shapiro/NA/Enron@Enron
cc: Aleck Dadson/TOR/ECT@ECT

Subject: Update - Proposed Alberta Power Pool Rule Changes

Rick,

You will recall Steve Kean participated in a conference call on Nov 14 with
John Lavorato et al to discuss emergency Pool Rule changes that the Power
Pool intended to implement in two days.  We developed a 5 point action plan
to deal with the proposed Power Pool rule changes that would have a
significant impact on the value of Enron's PPA investment in Alberta.
By way of update to Steve, you may wish to brief him that: 1) It appears the
Power Pool will not proceed with the rule change designed to exclude
importers from setting pool price.  They will proceed with dispatch risk rule
changes but we have given input on those too and I am optimistic that Enron
will be able to live with these rule changes, the final wording of which we
should see on Monday, 2) We  have set up a meeting with the Minister of
Resource Development (you, Rob Milnthorp and I will attend) on December 11 to
encourage the Alberta Government to stay the course, and 3) This week we will
finalize our "Lessons from other Jurisdictions" document (that Steve sent me
materials to include in) and will provide it to the Alberta Government and
Power Pool and then follow up with them.

---------------------- Forwarded by Robert Hemstock/CAL/ECT on 11/25/2000
11:52 PM ---------------------------

Robert Hemstock
11/25/2000 11:53 PM
To: Rob Milnthorp/CAL/ECT@ECT, Derek Davies/CAL/ECT@ECT, John
Zufferli/CAL/ECT@ECT, Peter Keohane/CAL/ECT@ECT, Tim Belden/HOU/ECT@ECT
cc: aleck.trawick@blakes.com, dpef@blakes.com, Aleck Dadson/TOR/ECT@ECT
Subject: Update - Proposed Alberta Power Pool Rule Changes

The attached memo provides an update on the status of the Power Pool's
further consideration of the proposed rule changes.  In summary, it appears
the Pool will not proceed with the proposal to exclude import offers from
setting pool price but will recommend a rule that reduces ability of
suppliers to become price takers on volumes that were originally priced too
high to clear the merit order.  I will receive more specifics on the dispatch
risk rule change on Monday.

Regards,

Rob


Thanks very much!

Fletch


Thanks Bob--and you're right about winter!  df

	From:  Bob Chandler                           03/08/2001 04:36 PM

To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: Organization Announcement

Congratulations.  I know you'll miss winter in Omaha at least as much as I do!
---------------------- Forwarded by Bob Chandler/ET&S/Enron on 03/08/2001
04:37 PM ---------------------------

	From:  Stan Horton, Chairman & CEO                           03/07/2001 10:57
PM

Sent by: ETS General Announcement
To: Enron Transportation Services Operations
cc:

Subject: Organization Announcement

Michael Moran, currently Managing Director and General Counsel for ETS, has
decided to retire after a distinguished 27-year career with Enron.;; Mike has
been a conscience and a statesman of our organization and it is hard for me
to imagine the ETS organization without Mike.;
;
Fortunately, Drew Fossum, currently Vice President and General Counsel for
Northern Natural Gas and Transwestern, has accepted my offer to become Vice
President and General Counsel of ETS effective April 1, 2001.; Drew will
relocate to Houston and report to me in his new role.
;
To assist with transition issues and special projects, Mike has agreed to
stay on board for several months as Managing Director and Special Counsel to
the Chairman and will continue to report to me.;;
;
Please join me in congratulating Drew on his new assignment and thanking Mike
for his many contributions to ETS and Enron.;


I have no problem with the format.  I have not talked to Maria.  I got a call from Michael Emerson (today), which I have not answered--he wants to get the confirm signed and leave the VE discussion (on form of opinion) until later this week [and I have no problem with that either].  Why don't you finalize it with Maria and ask her to tell Michael that later this week for VE discussion is fine?  Thanks.

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Monday, October 08, 2001 2:27 PM
To:	Armogida, Jim
Subject:	FW: Revised Total Retun Confirmation

Jim:  Based upon our discussion of last wee, the attached format looks fine to me.  Did you have a chance to check on 3.1(iii)?  Have you already spoken to Maria?
Please call when you have a chance.  Sara

 -----Original Message-----
From: 	"Chiodi, Maria" <maria.chiodi@csfb.com>@ENRON [mailto:IMCEANOTES-+22Chiodi+2C+20Maria+22+20+3Cmaria+2Echiodi+40csfb+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, October 04, 2001 4:58 PM
To:	Armogida, Jim; Shackleton, Sara
Cc:	Emerson, Michael; Haratunian, Stephen
Subject:	Revised Total Retun Confirmation

Jim and Sara:

As we discussed, I attach a revised copy of the confirmation that is marked
to show changes made to our June 27th draft.

Regards,

> 	Maria Chiodi
> 	Legal and Compliance Department
> 	CREDIT | FIRST
> 	SUISSE | BOSTON
> 	Phone: 212-325-6724
> 	Fax: 917-326-7763
>
>
 <<TRS Oct 4 2001 CSFB Draft.doc>>

This message is for the named person's use only.  It may contain
confidential, proprietary or legally privileged information.  No
confidentiality or privilege is waived or lost by any mistransmission.
If you receive this message in error, please immediately delete it and all
copies of it from your system, destroy any hard copies of it and notify the
sender.  You must not, directly or indirectly, use, disclose, distribute,
print, or copy any part of this message if you are not the intended
recipient. CREDIT SUISSE GROUP and each of its subsidiaries each reserve
the right to monitor all e-mail communications through its networks.  Any
views expressed in this message are those of the individual sender, except
where the message states otherwise and the sender is authorised to state
them to be the views of any such entity.
Unless otherwise stated, any pricing information given in this message is
indicative only, is subject to change and does not constitute an offer to
deal at any price quoted.
Any reference to the terms of executed transactions should be treated as
preliminary only and subject to our formal written confirmation.

 - TRS Oct 4 2001 CSFB Draft.doc << File: TRS Oct 4 2001 CSFB Draft.doc >>


Reservation status has changed. Details of the reservation are listed below:
ASSIGNMENT_REF = 29743
SELLER_CODE = AZPS
SELLER_DUNS = 958982563
CUSTOMER_CODE = EPMI
CUSTOMER_DUNS = 848921276
AFFILIATE_FLAG = 0
PATH_NAME = W/AZPS/AZPS-AZPS/FOURCORNE345 - PNPKAPS230//
POINT_OF_RECEIPT = FOURCORNE345
POINT_OF_DELIVERY = PNPKAPS230
SOURCE = FOURCORNERS
SINK = PNPK
CAPACITY = 25
CAPACITY_REQUESTED = 25
SERVICE_INCREMENT = HOURLY
TS_CLASS = FIRM
TS_TYPE = POINT_TO_POINT
TS_PERIOD = OFF_PEAK
TS_WINDOW = FIXED
TS_SUBCLASS = WHEEL
NERC_CURTAILMENT_PRIORITY = Nerc Priority 1
OTHER_CURTAILMENT_PRIORITY = Default
START_TIME = 04/01/2002
STOP_TIME = 04/02/2002
CEILING_PRICE = 1.95
OFFER_PRICE = 1.95
BID_PRICE = 1.95
PRICE_UNITS = $/mW
PRECONFIRMED = YES
ANC_SVC_LINK = N/A
ANC_SVC_REQ = N/A
POSTING_REF = 0
SALE_REF =
REQUEST_REF =
DEAL_REF =
NEGOTIATED_PRICE_FLAG =
STATUS = CONFIRMED
STATUS_NOTIFICATION = lisa.gang@enron.com
STATUS_COMMENTS =
TIME_QUEUED = 03/29/2002

TIME_OF_LAST_UPDATE = 03/29/2002
PRIMARY_PROVIDER_COMMENTS =
SELLER_COMMENTS =
CUSTOMER_COMMENTS = call (503)464-5070 if problems
SELLER_NAME = AZPS
SELLER_PHONE = 602.250.1128
SELLER_FAX = 602.250.1155
SELLER_EMAIL = oasisadm@apsc.com
CUSTOMER_NAME = Enron Power Marketing, Inc.
CUSTOMER_PHONE = (713)853-3801
CUSTOMER_FAX = (713)646-8272
CUSTOMER_EMAIL = bill.rust@enron.com
REASSIGNED_REF = 0
REASSIGNED_CAPACITY = 0


please find out about this, and stop it's being sent to me everyday if I
don't need this.
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/03/2001
09:32 AM ---------------------------

ARSystem@mailman.enron.com on 01/02/2001 07:05:03 PM
To: jeffrey.a.shankman@enron.com
cc:
Subject: Approval is Overdue: Access Request for jeffrey.a.shankman@enron.com

This request has been pending approval for  47 days and you are the
alternate.  Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000006063&Page=
Approval to review and act upon this request.

Request ID          : 000000000006063
Approver            : jennifer.burns@enron.com
Request Create Date : 10/30/00 4:01:37 PM
Requested For       : jeffrey.a.shankman@enron.com
Resource Name       : Unlisted Application/Software
Resource Type       : Applications