---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/07/2000
06:44 PM ---------------------------

Ravi Thuraisingham@ENRON COMMUNICATIONS on 03/07/2000 11:28:07 AM
To: Stinson Gibner/HOU/ECT@ECT, Vince Kaminski
cc: Jim Irvine/Enron Communications@Enron Communications
Subject: FYI: Sycamore Support on Network Planning

FYI:

Note that the person mentioned in the text below (Ming Lung Lee) is very
experienced in traditional traffic engineering work. He comes from MCI where
he was responsible for modeling traffic etc.  It  appears that Sycamore
finally got him.  One time they had lost him to Corvis (another optical
equipment company), I guess Sycamore went back to him with a better deal!  As
soon as this guy is available, I'll set up an all day technical meeting to
hash out what needs to be done as far as optimization algorithm development
is concerned.  I want to produce a technical requirement document to clearly
outline what needs to be done to support dynamic, optical-switched-circuits
based trading and streaming media applications, etc.  Having such an industry
expert help us will help 'justify' internally all the the effort on the
traffic analysis side that John Griebling has asked us to support.  Keep in
mind that even though he is an expert in the field, the field that we need to
play in has not develop yet. Even the emerging data based traffic (as opposed
to voice where blocking of traffic is allowed) analysis is an order of
magnitude more difficult (due to uncertain load), let alone trading such load
(which we are planning to do!).

Ravi.

... Sycamore hired a guy per Griebling's request, to work with you on the
design/planning piece of the business.  He will be contracted out to Enron
for a period of 6 months initially.  He lives in SF but will be traveling to
whereever you need him.  Jim, Griebling wanted us to set up a meeting
between you guys for Wednesday morning, if you have time.  His name is Ming
Lung Lee and he comes to us from MCI.  Let me know what works.

----- Forwarded by Ravi Thuraisingham/Enron Communications on 03/07/00 11:09
AM -----

	Kristin.Bethurem@sycamorenet.com
	03/07/00 09:44 AM

		 To: Ravi Thuraisingham/Enron Communications@Enron Communications,
Kristin.Bethurem@sycamorenet.com
		 cc: Jim Irvine/Enron Communications@Enron Communications,
barb.vanbeyerer@sycamorenet.com, Brett.Leida@sycamorenet.com
		 Subject: RE: Pooling Point Profiles

Hi Ravi.  Fair enough, we will make sure we keep you guys in the loop.  Let
Barb/me know which items we can offload to you guys.

First thing to be done is Barb will schedule a call between us and you all
to gain a better understanding of a number we are trying to back into with
the metro solutions (there are alot of options on our side and we need some
guidelines).  I already talked to John about this this morning so we need to
make some headway on that number.  Also, we are scheduled for a conference
call Wednesday morning with Griebling to discuss where we are at with
initial solutions for metro.  Would you like to join us?

Thursday night, we have a dinner tentatively planned (talk with Griebling
about who, where, etc.).  Friday we will be meeting all day at the Omni in
Interlocken.

Ravi and Jim, per my conversations with John, he is going to run point on
the metro solutions.  Dorn is swamped with other activities.  As for the
switching piece, we discussed our routing software on Monday and I think
that is all we are going to do until Ahi is done then we will set up a
meeting between our guys and the Ahi folks.  The expectation is that this
meeting will occur in the next 30 days.

Also, Sycamore hired a guy per Griebling's request, to work with you on the
design/planning piece of the business.  He will be contracted out to Enron
for a period of 6 months initially.  He lives in SF but will be traveling to
whereever you need him.  Jim, Griebling wanted us to set up a meeting
between you guys for Wednesday morning, if you have time.  His name is Ming
Lung Lee and he comes to us from MCI.  Let me know what works.

The best ways to reach me are my cell phone or text pager.  Cell is
303-619-2485 and pager is 888-467-6167 -- you can send me a text message
from either your pager (if you have a 2 way) or press 3 to get an operator.

thanks, Kristin

-----Original Message-----
From: Ravi_Thuraisingham@enron.net [mailto:Ravi_Thuraisingham@enron.net]
Sent: Monday, March 06, 2000 9:52 AM
To: Kristin.Bethurem@sycamorenet.com
Cc: Jim_Irvine@enron.net; barb.vanbeyerer@sycamorenet.com;
Brett.Leida@sycamorenet.com
Subject: RE: Pooling Point Profiles

Hi Kristin, Jim and I will be in Broomfield, CO from tueday late ~ 10am
until
friday end of day.  We would appriciate being in the loop of any discussion
that
you may have with John and Dorn (provided that they can be shared with us).
Both
John and Dorn are very busy and you can help alleviate some of the
congestion by
send information directly to Jim & me.

Regards,

Ravi.

|--------+-------------------------------->
|        |          Kristin.Bethurem@sycam|
|        |          orenet.com            |
|        |                                |
|        |          03/05/00 04:34 PM     |
|        |                                |
|--------+-------------------------------->

>---------------------------------------------------------------------------
-|
  |
|
  |       To:     Jim Irvine/Enron Communications@Enron Communications
|
  |       cc:     Ravi Thuraisingham/Enron Communications@Enron
Communications,|
  |       barb.vanbeyerer@sycamorenet.com, Brett.Leida@sycamorenet.com
|
  |       Subject:     RE: Pooling Point Profiles
|

>---------------------------------------------------------------------------
-|

Jim

Thanks for the info.  We will walk through this information and I am sure we
(Brett and Barb) will have some questions as we are modeling with our
potential metro solutions.  When would you and Ravi be available for a
conference call on Tuesday to discuss?

Also, as far as a meeting, I am trying to recall what you are referencing.
Is it in regards to this or the switching piece?  Will you two be in Denver
all week?  We have a call with Griebling tomorrow regarding our routing
software, so I can talk with him about how he wants to handle this piece.

Talk to you soon, Kristin

-----Original Message-----
From: Jim_Irvine@enron.net [mailto:Jim_Irvine@enron.net]
Sent: Friday, March 03, 2000 3:45 PM
To: Kristin.Bethurem@sycamorenet.com
Cc: Ravi_Thuraisingham@enron.net; barb.vanbeyerer@sycamorenet.com
Subject: Pooling Point Profiles

Kristin
Attached is the sanitized file promised.
What is the status on next weeks meeting and more specifically, what is the
location?

Jim
----- Forwarded by Jim Irvine/Enron Communications on 03/03/00 03:40 PM
-----
|--------+----------------------->
|        |          Andre Bourque|
|        |                       |
|        |          03/03/00     |
|        |          01:27 PM     |
|        |                       |
|--------+----------------------->

>---------------------------------------------------------------------------
|
  |
|
  |       To:     Jim Irvine/Enron Communications@Enron Communications
|
  |       cc:
|
  |       Subject:     Pooling Point Profiles
|

>---------------------------------------------------------------------------
|

JIM:

As part of your vendor negotiation requirements.

Andre F. Bourque
Enron Broadband Services

----- Forwarded by Andre Bourque/Enron Communications on 03/03/00 01:28 PM
-----
|--------+----------------------->
|        |          Andre Bourque|
|        |                       |
|        |          03/02/00     |
|        |          05:42 PM     |
|        |                       |
|--------+----------------------->

>---------------------------------------------------------------------------
|
  |
|
  |       To:     Ravi Thuraisingham/Enron Communications@Enron
Communications|
  |       cc:     Rob Kolosvary/Enron Communications@Enron Communications,
|
  |       Lisa Rosenberg/Enron Communications@Enron Communications, Andre
|
  |       Bourque/Enron Communications@Enron Communications, John
|
  |       Griebling/Enron Communications@Enron Communications, Laura
|
  |       Beneville/Enron Communications@Enron Communications
|
  |       Subject:     Pooling Point Profiles
|

>---------------------------------------------------------------------------
|

RAVI:

As per your request, the attached profiles have been sanitized of their
sources.

Regards,

Andre F. Bourque
Enron Broadband Services

(See attached file: Pooling Point Profiles.xls)


Is that going to do it?
----- Forwarded by Richard B Sanders/HOU/ECT on 05/25/2001 07:24 AM -----

	Eva Tow/ENRON@enronXgate 05/24/2001 08:36 AM 	   To: Linda R Guinn/HOU/ECT@ECT  cc: Richard B Sanders/HOU/ECT@ECT, SAP Security@Enron  Subject: FW: sap delegation

 -----Original Message-----
From: 	Nguyen, Lori
Sent:	Wednesday, May 23, 2001 9:38 AM
To:	SAP Security; Tow, Eva
Subject:	Re: sap delegation
Importance:	High

It's completed.  Linda R Guinn's (P00503232) been setup to approve at the Senior Director Level (up to $74,999.99) in iBuyit eProcurement.

Thanks!

SAP Security
05/23/2001 09:27 AM
Sent by:	Eva Tow
To:	Lori Nguyen/Corp/Enron@Enron
cc:	Linda R Guinn/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Debbie Skinner/Enron@EnronXGate

Subject:	Re: sap delegation

Lori,

This is an urgent request.  Please update Linda R Guinn's (P00503232) iBUYit profile to approve at the highest level of approval - Sr. Director .  Please notify the user ASAP.

Thank you,
SAP Security (Eva)

From:	Richard B Sanders@ECT on 05/22/2001 09:44 AM
To:	SAP Security@ENRON
cc:

Subject:	sap delegation

I need Linda Guinn To have VP authority to approve invoices as outlined below.
----- Forwarded by Richard B Sanders/HOU/ECT on 05/22/2001 09:42 AM -----

	Linda R Guinn 05/21/2001 10:52 AM 	   To: Richard B Sanders/HOU/ECT@ECT  cc:   Subject: sap delegation

Per our conversation, SAP needs an approval delegation from you so that I can approve your invoices at the VP level.

Please forward this email to SAP security for processing.

Thanks,
Linda Guinn
Enron North America
1400 Smith Street
Houston, Texas  77002
(713) 853-6104
(713) 646-3393 (fax)

<Embedded StdOleLink>
<Embedded Picture (Device Independent Bitmap)>


It seems to me we are in the middle of no man's land with respect to the
following:  Opec production speculation, Mid east crisis and renewed
tensions, US elections and what looks like a slowing economy  (?),  and no
real weather anywhere in the world.  I think it would be most prudent to play
the markets from a very flat price position and try to day trade more
aggressively.  I have no intentions of outguessing Mr. Greenspan, the US.
electorate, the Opec ministers and their new important roles, The Israeli and
Palestinian leaders, and somewhat importantly, Mother Nature.  Given that,
and that we cannot afford to lose any more money, and that Var seems to be a
problem, let's be as flat as possible. I'm ok with spread risk  (not front to
backs, but commodity spreads).

The morning meetings are not inspiring, and I don't have a real feel for
everyone's passion with respect to the markets.  As such, I'd like to ask
John N. to run the morning meetings on Mon. and Wed.

Thanks.   Jeff


Thank you, Evelyn. I've back-dated Deal #456173 to 11/9. Let me know if
there's anything else I can do.

Kate

Evelyn Metoyer@ENRON
11/13/2000 08:15 AM
To: Carla Hoffman/PDX/ECT@ECT, Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Missing Deal?

Sorry...
the deal number to be backdated is 456173

---------------------- Forwarded by Evelyn Metoyer/Corp/Enron on 11/13/2000
10:13 AM ---------------------------

Evelyn Metoyer
11/13/2000 10:13 AM
To: Carla Hoffman/PDX/ECT@ECT, Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Missing Deal?

Can you please back date deal  to 11/09-00
 I spoke with PGET and they recognize this deal as brokered through Prebon
also.  I am still waiting for Prebon to claim the deal.

Carla Hoffman@ECT
11/10/2000 03:08 PM
To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: Missing Deal?

Sean is entering the first deal as we speak. I will let you know as soon as
we have a deal number.

Sean said he is sure the second deal was done through Prebon. No one is there
right now, but he will double-check with them. Again, I will let you know as
soon as we confirm this.

Thanks,
Kate

Evelyn Metoyer@ENRON
11/10/2000 01:06 PM
To: Carla Hoffman/PDX/ECT@ECT
cc:
Subject: Missing Deal?

ISSUE 1
Prebon sent over a confirm for a deal traded 11-9-00 where:
Sean Crandall sells SCEM Dec'00 COB at $107.00 25 mw
I did not confirm this deal with them and I don't see it in the system.

ISSUE 2
Prebon is just now claiming  that they did not do this deal from 11/7/00.
Can you please check Sean or Dianna book because I have it checked as
verballed but now they are saying it is not there deal.:
Enron (Sean Crandal) buys from PGET 25 mw of NP-15 for 11/10-11/30 at $95.00


I think we have compiled all the information you requested. Sorry for the
delay. Please call Linda Guinn at  ext.36104


How is the transfer of these assets taking place?  Is the father deceased?
If you know, please advise, as we need to do some paper work if there is a
true transfer of ownership.

Thanks!

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


I just heard a rumor that the Ercot Power Trading was going to sit in the Gas (Open) section.  Is this the case and does it change the seating for gas and power risk?

Thanks,
Stacey


Lets discuss again after we have nailed whether there are any large differences in medical insurance costs. Bottom-line, we won't people to sign new offer letters without too much pain or accusations that the terms are not "comparable". I share your sentiment about lower salaried employees, mainly.

I'll call you Monday.

David

-----Original Message-----
From: Donnelly, John L [HR] [mailto:john.l.donnelly@ssmb.com]
Sent: Saturday, January 05, 2002 1:24 PM
To: Oxley, David
Subject: RE: NETCO - Benefits Comparison

We have a salary freeze in place over 75 k, people will have to get used to
some short term changes for better long term opportunity.


Can you answer Melba's question below regarding the new desk?
---------------------- Forwarded by Brenda H Fletcher/HOU/ECT on 03/28/2000
05:16 PM ---------------------------

Melba A Bowen
03/28/2000 04:46 PM
To: Brenda H Fletcher/HOU/ECT@ECT
cc:
Subject: Re: Capacity Deal tickets

Thanks for the info!  Do you know what the key is to make sure the tickets
show up in Unify on the right desk?  Also how do we assure flash is on right
desk or is this not going to be an issue if we are using the Service P & l to
flash?  If we use the Service P & L to flash, will the transport info in
Unify and the flash amts. be the same and on the same desk?  How this makes
sense!

Brenda H Fletcher
03/28/2000 04:16 PM
To: Melba A Bowen/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Carrie
Hollomon/HOU/ECT@ect, Jeanne Wukasch/Corp/Enron@ENRON
cc:
Subject: Capacity Deal tickets

FYI
---------------------- Forwarded by Brenda H Fletcher/HOU/ECT on 03/28/2000
04:15 PM ---------------------------

Chris Germany
03/28/2000 03:50 PM
To: Sylvia A Campos/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT, Marlene
Hilliard/HOU/ECT@ect, Dana Daigle/Corp/Enron@ENRON, Stephanie
Sever/HOU/ECT@ECT, Sherry Anastas/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT
cc: David Oliver/HOU/ECT@ECT, Crystal Hyde/HOU/ECT@ECT, Scott
Goodell/Corp/Enron@ENRON, Brenda H Fletcher/HOU/ECT@ECT, Dan
Junek/HOU/ECT@ECT, Judy Townsend/HOU/ECT@ECT
Subject: Capacity Deal tickets

Effective April 1st, we will have several Transport Capacity tickets set up
under 2 desk, Market East and East.  All longhaul capacity on Tetco, Trco,
and Tenn will be set up under both desk.

All capacity on CNG, Iroq, Equit, Nat Fuel, and CGAS will be Market East.
Now, all of our current capacity on these pipes is either Bug, which goes
away on 4/1, or East.  So even on these pipes you will probably see the same
contract under both desk.

Comments/questions?


Mark,

Mika Watanabe from my group met with the consulate in Houston a while back.
The Consul general was undertaking preliminary soundings when they met with
you in Houston. Mika expressed our in principle interest in sponsoring a
Japanese cultural event in Houston. The consulate will contact us here in
Japan when a specific opportunity arises.

kind regards

Mark Schroeder@ECT
11/22/2000 11:23 PM
To: Steven J Kean/NA/Enron@Enron, Nicholas O'Day/AP/Enron@Enron
cc:

Subject: Japan consulate in Houston

Steve - where did we ever get to in terms of responding to the Consul General
about sponsorship?  I came across his name in my files, and just wanted to
make sure that we had done the courtesy of closing the loop/closing this
out.   thanks  mcs


Randy:

Based upon our discussions with Intergen this afternoon, there is a desire of
both Enron and Intergen to execute the transaction documents tomorrow
afternoon.  I need to determine if RAC believes that the 11/30/00 [Coral
Energy] DASH is sufficient for the transaction signing to proceed tomorrow or
if a revised DASH needs to be prepared and circulated for re-approval.

Relative to the approved 11/30 DASH, the major changes in the deal structure
are as follows:

1.  At the request of Coral Energy, the counterparty to the proposed
transaction has changed from Coral Energy to Intergen (or its designated
affiliate, Sweetgum Energy L.P.).

2.  Intergen has requested, and Enron has agreed, to the removal of the
requirement for an Intergen Parent Guarantee.  The major risk (i.e.
non-payment risk) associated with the removal of this Guarantee has been
mitigated by requiring Intergen to fund an escrow account with the
transaction sales proceeds prior to Enron's execution of the equipment
Assigment Agreement.

3.  Intergen has requested, and Enron has agreed, to the insertion of a
"no-shop" clause which serves to prevent Enron from offering/soliciting the
turbines & transformers to other parties once Intergen has signed the Letter
Agreement(s).

4.  Enron has requested, and Intergen has not yet agreed, to the modification
of the transaction "sunset dates".  These are the dates by which, once the
Letter Agreement is signed, that Enron must deliver the required Facilities
Agreements, GE acknowledgement letter, and fully executed Assignment
Agreement.  This modification proposes that the dates be moved from 12/29/00
to 1/15/01.  The Enron commercial deal team is awaiting confirmation from
Enron Global Finance that the executed Assignment Agreement can be delivered
within these timeframes.

5.  Intergen has requested, and Enron has agreed, to a modification of the
Transferability section of the Agreement in order to address an equipment
warranty risk that the current language represents to Intergen.  The
modification would serve to limit Enron's ability to exercise its "put
option" on its 20% member interest in the turbine/transformer L.L.C.(s) by
requiring either: 1) the expiration of the GE warranty, or 2) the written
consent of GE to Enron's ownership transfer in a form acceptable to Intergen.
 This modification is acceptable to Enron as it represents an earlier
potential put option exercise date under scenario 1) above than the current
Agreement language.

Please review this information and let me know (via email) if RAC requires
the DASH to be revised and re-approved.

Call me to discuss.

Fred
x35406


Nagesh ,

I would like to have the CPR Position Manager resorted for the TEXASMKT
screen as Follows:

Houston Pipe Line
East Texas Gas Systems
NNGB
Humble Gas Pipeline
Channel Industries Gas
Centana Pipeline
Oasis Pipeline Comp
PG&E Valero
PG&E TECO
Lone Star Gas
Remaining pipelines in alphabetical order.

In addition to this, please sort the location level (zones) under Houston
Pipeline as follows:

01-Thompsonville
14-South Texas
02-Robstown
19-King Ranch
11-Corpus
03-A/S South
04-A/S Central
07-A/S East
08-East Texas
15-Katy
16-West Loop
10-Ship Channel
Remaining zones in numerical order

Let me know if you have any questions or problems.  Thanks.

Daren


Both deals have been changed.

Kate

Kerri Thompson@ENRON
01/23/2001 02:03 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: apb checkout

503402
503403

should be march on both


-----Original Message-----
From: 	General Announcement/Corp/Enron@ENRON   On Behalf Of Wellness@ENRON
Sent:	Tuesday, December 11, 2001 3:40 PM
To:	Enron Houston@ENRON
Subject:	ATTENTION: Downtown Club (MET) Members

Payroll deductions and cost center billings for The Downtown Club (Met) memberships will terminate December 31, 2001.  Memberships will continue through a direct billing arrangement with The Downtown Club.

As most of you are aware, Enron has maintained a valuable partnership with The Downtown Club for the past two years, and they have graciously offered the following for current and future members:

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

The Downtown Club is pleased to continue to offer the preferred dues rates to current/former Enron employees.  The Downtown Club would like to assist you and keep you connected to the Downtown Community and help you maintain a healthy lifestyle during these challenging times.

Membership Offer:

1)     WAIVED Initiation Fee through 2/28/2002
2)     Sports Membership Preferred Monthly Dues of $62.79 (plus tax) honored
		through December 2002
3)     All Memberships are via direct monthly billing to the member

For more information - please contact Membership at 713.652.0700.

If you do not wish to keep your membership, please email your cancellation notice to mailto:georgia.fogo@enron.com as soon as possible.

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

     The Downtown Club is pleased to partner with Resources Connection
                      for a wonderful Member Benefit:

       Join us December 20th  from 9 a.m. to  2 p.m .for a complimentary
                          Career Crisis Workshop
                       featuring Bonnie Monych, CPC

                               focusing on:
                        Dealing with career crisis
              Climate control  (What's hot and who's hiring)
                      Me, Inc.  (Marketing yourself)
  Lunch is provided   *     RSVP is required to Keith at 713.289.3853   *
                              Limited Seating

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

Thank you.


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


I notified Jim Fell and Terrell Gault of the delay in getting the documents
to them, and Jim actually said he had both the Business Plan and the EIS and
therefore didn't need either. Hopefully the Business Plan will arrive from
BPA today and I'll send it off to Terrell.

Also, I'm sorry about the errors on the place cards. I was in a hurry to get
them out to Sir Not-So-Speedy and overlooked those details. I hope it didn't
cause too much confusion.

Kate


Hoyt,

I have reviewed the attached.  I think it looks good.  It strikes the balance
of welcoming and also letting them know that changes will occur in the
future.  Kriste, any other thoughts?

Michelle

Hoyt Thomas@ENRON
08/15/2000 06:02 PM
To: Twanda Sweet/HOU/ECT@ECT, Kriste Sullivan/Corp/Enron@ENRON, Michelle
Cash/HOU/ECT@ECT
cc: Melissa Laing/LON/ECT@ECT, Cynthia Gonzalez/Corp/Enron@Enron
Subject: draft welcome letter

I tried to make this as innocuous as I could, it will not make the New York
folks happy but I don't think we should go beyond this right now.  I have to
print these Wed AM so please give me some feedback ASAP!


I think this looks good.  For simplicity, I would use the ethnic codes we have in datamart/sap rather than creating new ones. That makes it easier to populate.  One other field to add would be visa status.

As with the other documents, I believe that the population of these documents can be done now, with just the blank for "yes" or "no" for layoff waiting for the rest of the process.  You probably will have to run these by the generalist, Valeria or someone in ER team, and the attorneys for the special risk factors column.

Be sure and mark this document as privileged and confidential, prepared at the direction of counsel, so that we can protect the privilege of this document if necessary.

Thanks.

Michelle

-----Original Message-----
From: Skinner, Cindy
Sent: Saturday, November 17, 2001 12:41 PM
To: Cash, Michelle
Cc: Cashion, Tana
Subject: Risk Analysis

I took a shot at combining the two spreadsheets.  Michelle, please provide correct ethic codes (I just guessed).  Tana, I'll need some help formatting the "Yrs. of Svc." and "Age" columns to calculate after we input date of hire and date of birth.  Comments?

Thanks,

Cindy


Following are EPMI weighted average trade prices for Tues., March 27. After
discussing this e-mail with my manager, we've decided to only send the
information previously sent via fax. If you have any questions on individual
deals, please don't hesitate to call.

Thanks,
Kate Symes
Trading Support
503-464-7486


Start Date: 10/14/01; HourAhead hour: 23;  No ancillary schedules awarded.  Variances detected.
Variances detected in Generation schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001101423.txt

Error retrieving HourAhead price data - process continuing...
---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 23 / Preferred:   0.01 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: SierraPowe
  MKT_TYPE: 2
  TRANS_DATE: 10/14/01
  UNIT_ID: VESTAL_6_WDFIRE

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 23 / Preferred: 163.12 / Final: 163.11)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 10/14/01
  SC_ID: EPMI


I'm having Diana look into it - I'll let you know.

Kate

Melissa Ann Murphy
03/07/2001 01:34 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 537565.01

Hi Kate, Lindy Conrad a trader from Seattle City Light called me today.  She
thinks the price for deal # 537565.01 should be $360.00 instead of $350.00.
She said that Sean Crandall was our trader.

Let me know what you find out.
Thanks,
Melissa


Vince,

In case I forget by Monday:  Hector Campos asked if he can take a course in
PDE's at Rice this fall.   It would meet Tues and Thurs. mornings and would
cost about $3000.     I'll try to catch you on Monday to see what you think.

Stinson


FYI
Received: from mcafee.bracepatt.com by mail.bracepatt.com; Mon, 23 Jul 2001
15:54:57 -0500
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Subject: RP00-241: FINAL PAS Rebuttal Tesimony
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Thread-Topic: RP00-241: FINAL PAS Rebuttal Tesimony
Thread-Index: AcETuUfABJ4K+CbwS6aN0uCx90qhAg==
From: "Shaffer, David S." <dshaffer@akllp.com>
To: " (E-mail)" <ryspeed-bost@verner.com>, " (E-mail)" <imoreno@bcjlaw.com>,
" (E-mail)" <rmp@cpuc.ca.gov>, "Barbara S. Jost (E-mail)"
<bjost@huberlaw.com>, "Curtis Wagner (E-mail)" <curtis.wagner@ferc.fed.us>,
"Daniel F. Collins (E-mail)" <daniel.collins@ElPaso.com>, "David Huard
(E-mail)" <dhuard@manatt.com>, "Douglas Canter (E-mail)" <dmcwash@mshpc.com>,
"Douglas G. Robinson (E-mail)" <drobinso@skadden.com>, "Douglas L. Beresford
(E-mail)" <dlberesford@hhlaw.com>, "Douglas Porter (E-mail)"
<douglas.porter@sce.com>, "Edith A. Gilmore (E-mail)"
<edith.gilmore@ferc.fed.us>, "Frank Lindh (E-mail)" <frl3@pge.com>, "G. Mark
Cook (E-mail)" <mark.cook@ElPaso.com>, "Gabe Sterling (E-mail)"
<gsterling@hhlaw.com>, "Georgetta Baker (E-mail)" <gbaker@sempra.com>,
"Gerald L. Richman (E-mail)" <grichman@skadden.com>, "Greg Jones (E-mail)"
<greg.jones@elpaso.com>, "Harvey Morris (E-mail)" <hym@cpuc.ca.gov>, "J.
Michel Marcoux (E-mail)" <jmmarcoux@brudergentile.com>, "James F. Moriarty
(E-mail)" <jmoriarty@fw-law.com>, "James H. McGrew (E-mail)"
<jhmcgrew@brudergentile.com>, "Jeffrey Sherman (E-mail)"
<jsherman@skadden.com>, "Joel L. Greene (E-mail)"
<jlgreene@energyadvocates.com>, "John P. Gregg (E-mail)" <jgregg@mbolaw.com>,
"Jonathan Bromson (E-mail)" <jab@cpuc.ca.gov>, "Joseph H. Fagan (E-mail)"
<jfagan@hewm.com>, "Judy Heineman (E-mail)" <judy.heineman@elpaso.com>,
"Katherine B. Edwards (E-mail)" <kbedwards@gkrse-law.com>, "Lisa M.
Ochsenhirt (E-mail)" <lochsenhirt@mbolaw.com>, "Marcia C. Hooks (E-mail)"
<marcia.hooks@ferc.fed.us>, "Martha Altamar (E-mail)"
<martha.altamar@ferc.fed.us>, "Matthew P. O'Loughlin (E-mail)"
<moloughl@brattle.com>, "Paul B. Mohler (E-mail)" <pmohler@hewm.com>,
"Randall Rich (E-mail)" <rrich@bracepatt.com>, "Ruby Meek (E-mail)"
<ruby.meek@ferc.fed.us>, "Sandra E. Rizzo (E-mail)"
<sandrar@prestongates.com>, "Willaim S. Scherman (E-mail)"
<wscherma@skadden.com>, "William Lansinger (E-mail)" <wlansinger@sempra.com>
Cc: "Minesinger, Kenneth M." <kminesinger@akllp.com>

Attached is a copy of the prepared rebuttal testimony of Ms. Patricia A.
Shelton regarding the affiliate issues set for hearing in Docket No.
RP00-241.  This testimony is being filed at FERC today on behalf of El
Paso Natural Gas Company.  Copies of Ms. Shelton's testimony are being
served by hand delivery to active parties with local counsel, and by
overnight courier to the other active parties.  Copies to all other
parties are being served by first class mail.  Please call Ken
Minesinger at 202-662-3040 if you have any questions.

 <<El Paso - FINAL Shelton Rebuttal testimony in RP00-241.DOC>>
 - El Paso - FINAL Shelton Rebuttal testimony in RP00-241.DOC


-----Original Message-----
From: Imai, Rika
Sent: Wednesday, August 29, 2001 12:52 PM
To: Benchluch, Moises; Benjelloun, Hicham; Cline, Kevin; Gim, Steve;
Gualy, Jaime; Kaniss, Jason; Mack, Iris; Makkai, Peter; Oh, Seung-Taek;
Santucci, Anna; Schiavone, Paul; Soykok, Gulay; Thomas, Paul D.; Wagner,
Joseph; Willis, Cory; Dickerson, Lloyd; Giron, Gustavo; Gulmeden, Utku;
Ha, Amie; Hemani, Sanjay; Jenkins IV, Daniel; Kendall, Heath; Lowell,
Thomas; Marquez, Mauricio; Moore, Castlen; Ochsner, Preston; Pan, Steve;
Philippov, Maxim; Raque, Michele; Schneider, Bryce; Williams, Ryan;
Young, Julia
Subject: FW: PIRA's Monthly Gas Forecasts 08/24/01

-----Original Message-----
From: distribution@pira.com [mailto:distribution@pira.com]
Sent: Friday, August 24, 2001 5:53 PM
To: PIRA Natural Gas Retainer Client
Subject: PIRA's Monthly Gas Forecasts 08/24/01

Attached is PIRA's latest "Monthly Gas Forecast."

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

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

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

PIRA Energy Group


They told me wrong...

It's not a 5 day notice, it's the right to recall the capacity for 5 days during the term; here's a modified paragraph.

Craig


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The State Power Regulators to Determine State Refunds Energy: Generators and
California officials will work together for 15 days to solve the huge
mathematical problem.
Los Angeles Times, 06/25/01

THE ENERGY CRUNCH / $9 billion showdown over power / State delegation seeking
refunds
The San Francisco Chronicle, 06/25/01

California Power Suppliers May Have to Refund Billions.
The Oil Daily, 06/25/01

Californians Get Rude to Enron Executives.
The Oil Daily, 06/25/01

Power Plays: Beaten-down energy stocks look attractive
Barron's, 06/25/01

SURVEY - POLAND - Why overseas energy investors are failing to generate high
returns.
Financial Times, 06/25/01

India: L&T seeks 51 pc stake in Vijaynagar power project
Business Line (The Hindu), 06/25/01

Rolls charged up on power generation
The Economic Times, 06/25/01

California; Metro Desk
The State Power Regulators to Determine State Refunds Energy: Generators and
California officials will work together for 15 days to solve the huge
mathematical problem.
MEGAN GARVEY
TIMES STAFF WRITER

06/25/2001
Los Angeles Times
Home Edition
B-7
Copyright 2001 / The Times Mirror Company

WASHINGTON -- Starting today, federal power regulators will begin trying to
solve one of the riddles of the energy crisis: How much of a refund will
California get?
One thing seems clear: The reduction will be a lot more than the $125-million
refund ordered to date, in all likelihood soaring to more than $1 billion.
Over the next 15 days--the Federal Energy Regulatory Commission is mandating
no weekends off--warring representatives from power companies and the state
of California will sit at the same table in a government conference room
while a FERC task force wrestles the question to the ground.
The task is to determine the price that power would have cost if FERC's
decision to impose soft caps had been made not last week, but last fall.
It is a daunting mathematical problem, factoring in hourly charges during the
last eight months. To come up with a total, federal regulators, state
electricity officials and power generators must determine what the highest
price for a megawatt should have been under the soft price caps now in
effect. Then they have to figure out which companies--if any--were charging
more.
Under the recent FERC ruling, the price of electricity during any given hour
cannot exceed the actual cost of generating the least efficient--or most
expensive--power coming into the grid.
Curtis L. Wagner, the 72-year-old chief judge for FERC who is overseeing
negotiations on California's overcharges, said of this morning's events: "It
will be a zoo."
Wagner, who headed into the weekend with three inches of documents to sort
through, explained that Gov. Gray Davis wants $9 billion knocked off the
amount the power generators charged California. "I don't really think it's
that high," said Wagner, predicting the refund will be more than $1 billion
but probably far from $9 billion.
"We have folks trying to do some adding now and some work on what the number
should be," he said.
Wagner said the money at stake will be the most he has worked on in his
nearly three-decade career at the agency.
Until recently, the likelihood of massive refunds seemed nil. Although
California lawmakers--led by Davis--had demanded relief for costs that ran as
high as 10 times or more than the rates a year ago, FERC officials had not
agreed.
And their minds seemed set. When FERC first proposed remedies for the
California price increases late last year, commissioners said: "Refunds may
be an inferior remedy from a market perspective and not the fundamental
solution to any problems occurring in California markets."
To date, FERC has ordered $125 million in refunds for alleged overcharges in
January and February.
But with the recent appointment of two new commissioners by President
Bush--Republicans Patrick H. Wood III of Texas and Nora M. Brownell of
Pennsylvania--FERC's position softened, leading to the price mitigation
ordered last week.
Now FERC is taking a closer look at the prices already charged.
California lawmakers have pegged overcharges at nearly $9 billion since the
California market went haywire last summer--a number that comes from a study
done by Cal-ISO, the operator of California's electricity grid. Cal-ISO
officials acknowledged last week that the study might have significant flaws.
Among companies that may be required to reduce their bills are energy giants
Enron Corp., Mirant Corp., Duke Energy Corp., Williams Cos. and Reliant
Energy Inc.--all of which are expected to have representatives at the
negotiations. The companies have hotly disputed the amount of overcharges
alleged by Davis and other California lawmakers and point out that they have
yet to be paid for the vast majority of electricity sold in the state in
recent months.
Today, Wagner said he plans to make opening statements to the media. After
that, he said he hasn't determined how much of the wangling will be done
behind closed doors. If the parties don't come to an agreement in 15 days,
Wagner will have seven days to make a recommendation on refunds to FERC's
five commissioners.
It is a process that may be repeated down the road if Sen. Barbara Boxer
(D-Calif.) and other California politicians get their way. Boxer has
introduced legislation that would give FERC retroactive power to order
refunds--all the way back to July 2000, when San Diego first faced huge
spikes in electricity costs.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

NEWS
THE ENERGY CRUNCH / $9 billion showdown over power / State delegation seeking
refunds
Lynda Gledhill, Christian Berthelsen
Chronicle Staff Writers

06/25/2001
The San Francisco Chronicle
FINAL
A.1
(Copyright 2001)

A critical showdown in California's energy crisis starts this morning, as
state officials meet with energy companies to demand $9 billion in refunds.
A 15-day settlement conference, ordered as part of the Federal Energy
Regulatory Commission's decision last week to put price controls on wholesale
electricity prices, will bring together the parties that have been squabbling
for the past year.
"We are going to Washington with one goal, and that is to bring back $9
billion," Gov. Gray Davis told reporters yesterday. "The fact is that people
have taken advantage of the market, gamed the system and ripped people off."
But Davis' crusade may be dampened by challenges to the study the state used
to arrive at the $9 billion figure and by a FERC mediator's prediction that
California will walk away with less than it is demanding.
The Democratic governor's figure is based on an update of a March study by
the California Independent System Operator, which manages the sate's power
grid. Some energy experts argue the study is flawed, but the ISO stood firm
behind its methodology yesterday.
Curtis L. Wagner Jr., the FERC administrative law judge who will oversee the
meeting, said in an interview with The Chronicle yesterday that he was
optimistic a settlement would be reached.
Wagner said the $9 billion "seems a little high. And the generators' numbers
seem low. We'll probably come out somewhere in between."
The veteran mediator, who spent yesterday reviewing spreadsheets submitted by
the parties, said he will look at applying last week's commission price
control order back to October.
"I think we should put the refund issue to rest," Wagner said. "I'm sure we
can agree on a structure that is fair to everybody." Enron Corp, Reliant
Energy Inc., Duke Energy Corp., Williams Cos., Dynegy Inc. and Mirant Corp.
are among the companies facing allegations of illegally overcharging
California. The companies say the high prices were a result of the high costs
of natural gas used to generate power.
"There has been no evidence to suggest that suppliers bilked anyone," said
Mark Stultz, a vice president of the Electric Power Supply Association, which
represent the generators.
But Davis insisted that the state will recover the full amount it is asking.
"Under the law, FERC has no discretion," he said. "It is mandated to refund
excessive charges, if prices were found to be unjust and unreasonable, which
they were."
The governor, however, acknowledged that some of the money he is demanding
may be owed by municipal utilities that do not fall under FERC's
jurisdiction.
Davis adviser Nancy McFadden said municipal utilities such as Los Angeles
Department of Water and Power and BC Hydro that sold electricity to the state
have been invited to join the talks as well.
"We need the FERC to lay the basis to seek refunds from private generators,
and use that as a basis to seek refunds from public generators," she said.
California could face an obstacle in its case for the full repayment it
seeks. Under FERC rules, overcharges can only be authorized after a formal
investigation is ordered, which in this case started on Oct. 2, 2000. If
Wagner sticks to that time frame, it eliminates the summer 2000 months when
prices first began to spike.
"There is no question we can order refund from that (October) date forward,"
Wagner said. "Legally, there may be some question before that date."
But Wagner said a FERC regulations may not necessarily rule out broader
refunds. "That's the great thing about a settlement -- you can do anything,"
he said.
If no settlement is reached in 15 days, Wagner will forward his
recommendations to the full commission for its approval. California will then
have the option of pursuing the matter further in court.
California's delegation will be led by Michael Kahn, a San Francisco lawyer
who chairs the ISO.
Davis also meets today in Sacramento with new FERC Commissioners Patrick Wood
and Nora Brownell to discuss the refunds and the high cost of natural gas in
the state.
Wood, who is expected to be named chairman of the commission in the fall, has
expressed his support for finding solutions to California's power woes.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

California Power Suppliers May Have to Refund Billions.

06/25/2001
The Oil Daily
(c) 2001 Energy Intelligence Group. All rights reserved.

Power marketers providing electricity in California may have to refund
several billion dollars to customers to compensate for overcharging, a
Federal Energy Regulatory Commission (FERC) administrative law judge said
Friday.
The potential refunds, however, will be no where near the $9 billion claimed
by California Gov. Gray Davis, Judge Curtis Wagner said. Wagner is to oversee
hearings on the alleged overcharges that begin Monday in Washington, D.C.
Industry sources have expected such action from federal regulators, who
already have acknowledged that the power suppliers had overcharged by several
hundred million dollars.
One issue that may complicate the matter is the amount of money that the same
power providers are owed by California utilities for electricity they
supplied, but for which they have not been paid.
The California governor last week said that power generators and marketers
including Duke Energy, Dynegy, Enron, Reliant Energy, Mirant, and Williams
Cos. may be due $2.5 billion just by Pacific Gas and Electric, which is in
bankruptcy. This does not include funds owed by Southern California Edison or
San Diego Gas & Electric.
Wagner's comments were not released until after the close of the New York
Stock Exchange on Friday. The shares of the natural gas and electricity
trading companies have been battered in recent weeks, in part because of
fears they would be required to make refunds.
(c) Copyright 2001. The Oil Daily Co.
For more infomation, call 800-999-2718 (in U.S.) or
202-662-0700 (outside U.S.).

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Californians Get Rude to Enron Executives.

06/25/2001
The Oil Daily
(c) 2001 Energy Intelligence Group. All rights reserved.

Californians are being downright rude to Enron executives these days.
First, California Attorney General Bill Lockyer suggested that Enron Chairman
Kenneth Lay ought to be forced to spend some time in a prison cell with a
tattooed character named Spike who was looking for "companionship."
Thursday, an angry electricity consumer threw a cream pie in the face of
President and Chief Executive Jeffrey Skilling as he was preparing to address
a civic and business group in San Francisco.
According to wire service reports, the pie thrower was a woman from the
Biotic Baking Brigade, an organization that makes a practice of "creaming"
controversial figures. Past recipients include Microsoft Chairman Bill Gates
and San Francisco Mayor Willie Brown.
Skilling went ahead with his speech to the Commonwealth Club of California,
telling them that Gov. Gray Davis was not responsible for the current crisis
because he had inherited the regulatory morass from the prior administration.
Davis was elected in 2000, succeeding Republican Pete Wilson.
Skilling, an ardent Republican, couldn't let the Democratic governor escape
without some criticism. He said that Davis had exacerbated the problem by not
addressing it promptly when the first signs appeared last year.
Enron Vice President Karen Denne said that company executives anticipated
some sort of demonstration by disgruntled electricity consumers. "Obviously,
this is a very emotional issue," she said. "There was risk in our coming to
the state, but we feel strongly enough about the issue that we felt it was
important to talk about the situation and what could be done to fix the
problem."
Denne maintains that listeners received Skilling's remarks favorably. "They
did seem to be receptive to the message," she said.
Wall Street also has been rather impolite to Enron of late. The company's
common stock continues to take hits, last week falling to a 52-week low of
$42.35. This is less than half the year's high of $90.75, reached in August.
Friday it was trading at around that same level.
The most recent decline came after the Federal Energy Regulatory Commission
issued an order imposing "price mitigation" rules on electricity sold to
California and 10 other states in the western power grid (OD Jun.15,p6).
The pounding prompted Skilling to issue a statement pledging that Enron would
make its earnings targets.
Barbara Shook.
(c) Copyright 2001. The Oil Daily Co.
For more infomation, call 800-999-2718 (in U.S.) or
202-662-0700 (outside U.S.).

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

MARKET WEEK
Commodities Corner
Power Plays: Beaten-down energy stocks look attractive
By Cheryl Strauss Einhorn

06/25/2001
Barron's
MW19
(Copyright (c) 2001, Dow Jones & Company, Inc.)

The Federal Energy Regulatory Commission last week voted to extend controls
on California power prices to 10 other Western states and to keep them in
force every day, rather than just during shortages. The news sent share
prices tumbling, not only for energy trading and marketing companies, such as
Enron, but also for alternative energy providers, such as Plug Power, and
outfits that build and operate power plants, such as Calpine and NS Group.
The decision dampened expectations for the profitability of these industries,
in part because capped prices will reduce incentives to build power plants
and to find new energy sources.
While regulators' decision to "mitigate" prices is popular with consumers, it
does nothing to fix the underlying energy problem. For the companies being
vilified are exactly those that need the most investment to expand energy
supplies. Their shares' selloff may make them ripe for picking. With their
services a necessity, these companies should find politicians willing to come
up with tax breaks and other incentives to offset the price caps and boost
the supply of electricity.
Donato Eassey, a Merrill Lynch analyst who follows electric, natural-gas and
other energy companies, thinks the stocks are "now well oversold." For "while
there still remains a long road ahead to navigate through the California
chaos, we believe the crushing political pressures, which have helped
decimate over $45 billion in energy merchant market cap since the beginning
of the year [for an average decline of 27%], may be in an ebbing mode."
Which companies look best? Perhaps Sempra Energy, which signed a preliminary
agreement last week with the State of California to settle its $750 million
in undercollected power costs. The settlement should not have any earnings
impact, in part because the company is well reserved. This company is one of
the very few energy trading and marketing shops that hasn't suffered a big
stock setback in the past month. Eassey describes it as "holding in there
like a rock." Sempra's share price is unchanged during the past month and is
actually up 18% this year.
Eassey says the stock has held up well, in part because it has been
undervalued as investors have failed to recognize that the company does much
more than generate energy: "It has a sizable trading and marketing arm." Now,
though, he thinks it will benefit from being the largest combination U.S. gas
and electric utility; its assets, he says, mean the company "has a lot of
shock-absorbing capacity."
In addition, the surge in electric and gas prices is expected to move states
and companies toward long-term, fixed-price energy contracts, which provide
better margins to the energy companies than selling at volatile spot-market
prices.
As a result, Sempra, which trades at 11 times expected earnings and five
times expected cash flow, while posting a return on equity of 20.5%, could
"conservatively see 43% total-return potential" in the next 12 months, Eassey
says, for a price target of 36.35.
He likes the prospects for shares of Dynegy, El Paso Energy and Williams,
which have been crushed in the past month. Indeed, after being the
second-best-performing stock in the S&P 500 last year, Dynegy is off 26% in
the past month alone, while shares of El Paso are down 19% and those of
Williams are off 16%.
All these companies' businesses are diversified; they're not only in
exploration and production, but also in pipeline and refining, as well as in
coal and natural-gas liquids. Each owns some generating capacity and trades
and markets energy products. Eassey sees the companies also benefiting from
their business mix and from the greater certainty that long-term, fixed-price
contracts offer. He looks for 30%-40% price appreciation for the group in the
next 12-24 months.
Yet for Enron, often considered the premier trader and marketer, Eassey is
less optimistic, even though its shares have taken a hefty 17% hit in the
past month. Enron doesn't own much generation capacity. Moreover, although
energy prices may continue to be volatile, there is a perception that price
peaks and troughs may grow less pronounced because the market is more heavily
regulated and there are fewer spot -- or cash market -- transactions. Thus,
profits from Enron's trading may shrink. The company is in a "show-me" state,
he says.
After posting its biggest daily fall in 2 1/2 years Wednesday, gasoline
slumped to a six-month low at week's end, after the nation's biggest pipeline
stopped accepting new shipments from the Gulf Coast to the East. This is a
signal that the market is well- supplied for the peak summer-driving months.
July futures fell to 77.50 cents a gallon, or nearly 12% on the week.
Happy motoring.
--- KEY COMMODITY INDEXES

CRB Group Indexes 6/22 6/15 Yr. Ago

CRB Futures 205.38 211.62 227.08
Industrials 156.58 161.98 199.03
Grain/Oils 152.93 158.51 167.89
Livestock 256.50 258.10 249.71
Energy 239.41 261.61 271.07
Precious Metals 253.48 258.62 268.88

BARRON'S/Bridge-Telerate

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

SURVEY - POLAND - Why overseas energy investors are failing to generate high
returns.
By JOHN REED.

06/25/2001
Financial Times
(c) 2001 Financial Times Limited . All Rights Reserved

SURVEY - POLAND - Why overseas energy investors are failing to generate high
returns - POWER by John Reed - With liberalisation yet to find the correct
model and energy consumption half the EU average, most foreign companies have
to be there for the long-term.
As California's power crisis demonstrates, there is no handy single template
for privatising the energy sector. Small wonder, then, that Poland's effort
to liberalise its energy market and find new owners for its power plants and
distributors has a mild air of improvisation about it.
When the government approved an "integrated timetable" to privatise the
sector a year ago, its experts looked at reforms in Norway, Britain,
Australia and - sure enough - California, says Wojciech Tabis of the energy
department.
Last April, less than a year into the programme, the government amended the
strategy.
The shift reflected in part changes on the ground - including the creation of
Poludniowy Koncern Energetyczny, a powerful group of seven generators in
southwestern Poland - and partly the view, promoted by economy minister
Janusz Steinhoff, that Poland should sell its investment-starved power plants
first.
This was on the grounds that distribution companies are natural monopolies
and certain to attract investors.
Now Poland plans to accelerate the sale of power plants, while continuing to
privatise two distribution companies already underway: Warsaw's Stoen, and
the so-called G-8 group of northern power distributors.
"In most EU countries, the power sector is either partly or wholly
state-controlled," explains Professor Marian Milek, deputy treasury ministry
responsible for energy.
"Poland is opening up, so we need to be careful that there will be a
guarantee of the security of our power market."
For foreign investors, Poland holds the lure of a deregulating market where
power consumption per head is only about half the EU average. With EU
membership in sight this decade, Poland could also serve as a conduit for the
transit of cheap power from ex-Soviet countries to the West.
French utilities Electricite de France and SNET, Poland's Elektrim and
Sweden's Vattenfall have invested to date.
The Swedish state-owned utility owns 32 per cent of the southern GZE
distribution group and 55 per cent. Warsaw's district heating plant in
Siekierki, and hopes to increase both stakes to a majority within two years.
Vattenfall is targeting Poland, alongside Germany, as prime territory to
expand. "In the European market, it's a question of eat or be eaten," says
Hannu Kostiainen, general manager for Poland.
"We have to grow and increase the value of the company, and the only way to
do this is to invest."
Poland's power market is expected to get an added fillip on July 1 when, if
the country's energy regulator keeps its earlier promises, the country will
begin moving away from tariff controls while Polskie Sieci
Elektroenergetyczne, the power-grid company, initiates the operation of an
hourly balancing market.
Both measures will contribute to the creation of a fully-fledged wholesale
market for power, a prospect attractive to both foreign and local market
players.
One is US power giant Enron, which invested in a gas-fired plant a year ago
with the explicit aim of gaining a foothold for future business in power
trade.
Some of the early investors have complained of a difficult time from
regulators, officials, and the strains of working on a still-unliberalised
market.
One publicly-held foreign energy company that failed in a bid for a power
plant last year complains the going is so hard that only state-controlled
companies like Vattenfall and EdF can afford to tough it out.
"They're determined to get into Poland regardless of the short-term costs,"
he says, declining to be quoted because of pending business at other energy
companies. "Unfortunately, we have to satisfy shareholders."
Vattenfall's Mr Kostiainen disputes the view. "Financing our operations is
much more difficult than for private companies," he says. "We can't use new
emissions to do it, so we're dependent on bank financing and our own cash
flow."
Yet he and other company officials, while noting the market's promise, have
also complained of tough going in the initial phase.
Some of the issues are familiar to veterans of Polish state sell-offs in
other sectors, including the need to sign a "social pact" with the plant's
powerful unions.
At Vattenfall's Elektrocieplownie Warszawskie power plant in Siekierki, its
talks with unions yielded a five-year guarantee of employment for workers,
plus a "privatisation bonus" of 15,000 zlotys ( $3,750) per head. The company
was lucky to negotiate the unions down from their demand to match a
seven-year guarantee paid by a rival investor at another Polish plant, says
Jan Reutergardh of Vattenfall.
Zealous regulation of tariffs by the Bureau of Energy Regulation, Poland's
sectoral watchdog, has also squeezed the operation's bottom line.
Last year, says Mr Reutergardh, the body approved a3 per cent tariff for
Siekierki, though inflation was about 10 per cent. The plant reported a 16m
zloty profit last year, but the gains were eaten up by "social funds"
reserves made, and other costs relating to the privatisation process, he says
"Poland has to go into the EU, and has to privatise companies," Mr Kostiainen
says pointedly. "But if they want foreign companies to participate, they have
to make sure the investors are satisfied."
The tariff liberalisation promised starting in July should silence some of
the investors' complaints.
So will a planned move away from long-term offtake contracts. The contracts
account for about two-thirds of the existing market and, as a side-effect,
give generators little incentive to lower their prices.
They were bestowed on power plants to provide them with collateral for bank
loans to finance their development.
One reflection of the resulting distortion is the slow trading at Poland's
wholesale power exchange. It trades barely 1-2 per cent of the total market
turnover, below the 4-5 per cent deputy minister Mr Milek says it needs to
become viable.
The contracts are now being phased out, says Mr Tabis of the economy
ministry.
Government officials belittle investors' complaints, noting they will be more
than compensated in future for having occupied an early foothold in the
Polish market. Foreign power companies concur with the view, albeit from a
different perspective: "I don't think anyone is here for the near-term
future," says one.
(c) Copyright Financial Times Ltd. All rights reserved.
http://www.ft.com.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

India: L&T seeks 51 pc stake in Vijaynagar power project

06/25/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

BANGALORE, June 24. LARSEN and Toubro has sought a 51 per cent stake in the
500 MW Vijaynagar thermal power project. The project is being taken up as a
joint venture with Karnataka Power Corporation Ltd (KPCL).
KPCL sources said the shareholders' agreement would be finalised with L&T
once some of the issues such as restricted tenure of power purchasing
agreement (PPA) were addressed.
KPCL had originally shortlisted PowerGen International and Enron along with
L&T as the joint venture partners for the project. But both Enron and
PowerGen pulled out of the financial bids, leaving L&T as the lone bidder.
The original proposal had envisaged a 25 per cent stake for the joint venture
partner, with 26 per cent with KPCL and the remaining equity to be raised
through the participation of financial institutions, banks, equipment
suppliers and the public.
The sources said that among the issues that have been raised by L&T included
the State Government's restriction on PPAs. As per the new power policy
adopted by the State Government, the validity of the PPAs has been restricted
only to five years.
This was not acceptable to either KPCL or L&T. Such a policy framework, the
sources said, would result in front-loading of tariffs, which in turn would
imply high tariffs. This was because the entire debt recovery period would
have to restricted to this period. Accordingly, what is now being sought is a
longer duration PPA, on the basis of internationally-recognised 30-year
contracts. This would allow the tariff to be kept to optimum levels, even
after factoring in a minimum of 16 per cent return on equity as is permitted
by the Electricity Supply Act.
Besides, the sources said, the Government's policies regarding tariff
indexing also needed to be clarified. The Government wants a flat rate of
tariff indexing of five per cent per annum, whereas generating companies
would ideally prefer to have a tariff indexed to actual prevailing costs of
operations or inflation-linked. It is only after these issues are sorted out
that KPCL is prepared to proceed with the finalising of the PPA.
Along with these issues, the project cost has also been quietly revised.
The new cost per MW has been worked out to Rs 4.62 crore per MW, which is in
line with the estimates made for two of the 1000 MW stations - CLP-Tata and
Nagarjuna Power - proposed in the State.
The original cost estimate was Rs 2,099 crore or Rs 4.1 per MW. Accordingly,
the revised project cost is now about Rs 2,400 crore. This is to be funded
through a 70:30 debt equity ratio, with the equity component comprising of at
least Rs 692 crore.
But KPCL has already tied up fuel linkage with Talcher. The coal requirement
for the project is estimated to be in the region 2.8 million tonnes per annum
assuming a plant load factor of 80 per cent and a calorific value of 3,000
kilo calories per kg. This coal is to be brought by sea to the newly
corporatised port of Ennore and evacuated by the Railways to Vijaynagar.
- C. Shivkumar

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.

Rolls charged up on power generation
Soma Banerjee

06/25/2001
The Economic Times
Copyright (C) 2001 The Economic Times; Source: World Reporter (TM)

ROLLS Royce India Private has drawn up expansive plans to enter the captive
power generation market in a big way.
The company which has been associated with the Indian power sector for the
past few years has already identified some states and is in negotiation with
private developers to set up such power plants.
In an exclusive interview to ET, Mr Rod William managing director of Rolls
Royce power who looks after the companys entire energy operations in Asia
said: ``We want to establish ourselves as one of the players in the captive
projects category where projects would be from 4 to 6 mw to a maximum of 100
mw.
He recently met the union power minister to appraise him of the companys
plans. The union power ministry has taken up a major drive to refurbish the
image of the power sector following the Enron debacle.
In its bid to get attract customers from the industry, the company is
organizing the first road show of its kind in Gujarat next month. The company
has already approached industrial consumers who are in need of reliable
power.
``We have got very favourable response and consumers from a wide range of
industries from glass, textile cement have shown interest, William said. What
is interesting is that Rolls Royce has also been interacting with financial
institutions and lenders and they are willing to lend to projects that are
realistic.
The road show will be held in Surat, Vadodhara and Mumbai in the first phase
and taken to other southern states in the second phase.
The company has zeroed in on Tamil Nadu, Andhra Pradesh Gujarat and
Maharashtra as their target destinations for the gas based captive power
projects.
Apart from offering to set up plants, the company will also offer other
services like energy service, or operation and maintenance of the plant, and
even take up distribution for specified regions.
The idea behind taking up distribution would be to feed the excess power into
the grid. In fact, since most industrial consumers would prefer to have
reliable power such captive power plants are likely to find enough takers, he
said.
The government is also opening up special schemes to attract such investments
into the export processing zones. Setting up power plants for these zones
would take care of the industrial needs and allow the extra power to be fed
into the grid.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.


-----Original Message-----
From: Shively, Hunter S.
Sent: Friday, May 11, 2001 7:38 AM
To: Cuilla, Martin; Storey, Geoff; Lewis, Andrew H.; Ruscitti, Kevin;
Donohoe, Tom; Stevens, Kelli; Mims, Patrice L.; Williams, Jason
Subject: RealMoney.com Listen Closely Natural Gas Supplies Are Telling
You Something.htm


Thallam,

Thanks for your message. I shall ask my assistant, Shirley Crenshaw (713 853 5290),
to set up the call with you.

Vince Kaminski

 -----Original Message-----
From: 	"Thallam Srinivasan" <ttsrini@RiskLimited.com>@ENRON [mailto:IMCEANOTES-+22Thallam+20Srinivasan+22+20+3Cttsrini+40RiskLimited+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Friday, August 24, 2001 5:51 PM
To:	Kaminski, Vince J
Subject:	Letter sent

Dear Dr.  Kaminski,
Last week I sent to you a note  regarding Risk Ltd. services that might be of interest to you.  Is there a convenient time to your  schedule next week for Shannon Burchett and me to telephone to discuss  this with you briefly?
Thank you for your time.
Best  regards,
Thallam  Srinivasan

Risk Limited Corporation

Box 612666 Dallas, Texas 75261 USA Tel: 972.245.8300 Fax:  972.245.8318 www.RiskLimited.com


Hi Richard,

Will you please look over the attached MPR's and let me know if they look okay?

Thanks,
Mary


eSource Presents Free Frost & Sullivan Training

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Over the last two weeks, the following number of people from the indicated
business units have attended the SAP reporting workshops.  In addition,
approximately 75 people attended the reporting workshops held in London.

EES 18
ENA 118
GF 7
GP 8
GPG 125
TOTAL:  276

We have continued to refine our approach to these workshops, and the
responses indicate that we are doing a lot better.   We asked the 276
participants:  "On a scale of 1 to 10, how effectively did the workshop......
 1.  Help you learn something new?
 2.  Increase your comfort level with extracting data ?
 3.  Make SAP standard reporting more useful?
 4.  Use activities and discussions to contribute to your learning?
 5.  Better prepared to do your job?"

Here are the average responses, by business unit and by specific reporting
workshop

Overall Evaluations by Business Unit

 Helped Me         Increased      Made SAP      Contributed  Better Prepared
BU    Learn            My Comfort    Std. Reporting         to My       Me To
Do
 Something New Level        More Useful         Learning            My Job
EES       8.28   8.17   8.17   8.28   8.61
ENA       7.58   7.12   7.38   7.63   7.21
GF       9.00   9.43   9.29   9.14   9.14
GP       8.63   8.38   8.75   9.00   8.75
GPG       7.94   7.65   7.65   7.71   7.70

Overall Evaluations by Reporting Workshop
    Learn  Increase     Reporting      Contributed Better Prepared
BU Curriculum  Something Comfort        More            to My         Me To Do
    New  Level          Useful          Learning         My Job
EES AM & PS  8.67  9.00  8.33    9.00   9.00
EES AP   7.67  8.67  8.67    8.67   8.67
EES AP & AR  10.00  10.00  8.67    9.33   10.00
EES Design & Data Flow 7.78  7.11  7.78    7.56   8.00
ENA Active Excel  8.90  8.34  8.52    8.59   8.41
ENA AM   7.30  6.90  6.80    6.80   6.90
ENA AP & AR  8.88  7.88  8.38    8.50   8.50
ENA Design & Data Flow   6.15  5.80  6.27    6.60   5.80
ENA GL   8.00  8.00  7.80    8.20   7.60
ENA GL CCA & IO  8.72  8.39  8.28    8.78   8.50
GF CCA & GL  9.00  9.33  9.33    9.67   9.33
GF FX/Intercompany   9.00  9.50  9.25    8.75   9.00
GP Design & Data Flow   8.20  8.00  8.40    9.00   8.60
GP GL PCA & CCA  9.33  9.00  9.33    9.00   9.00
GPG AM & PS  8.75  8.25  8.25    8.75   8.50
GPG AP   8.70  8.70  8.70    8.40   8.50
GPG AP & AR  8.77  8.38  8.31    9.00   9.08
GPG AP CCA & IO  9.20  9.20  9.40    8.60   9.20
GPG AR   7.80  7.47  7.73    7.73   7.60
GPG Design & Data Flow   7.42  6.73  6.82    6.76   6.69
GPG GL   7.18  7.09  7.09    7.09   7.18
GPG GL & IO   7.82  7.73  7.73    7.55   7.91
GPG IC   7.80  6.80  7.60    7.40   8.00
GPG IC & CCA  7.25  9.00  6.75    8.50   8.50
GPG IM & PS   8.33  8.22  8.11    8.56   7.78
GPG IO IC & CCA  8.67  9.00  8.78    8.78   8.67

Thanks for everyone's participation and keep the feedback coming!


---------------------- Forwarded by Kay Mann/Corp/Enron on 04/20/2001 08:43
AM ---------------------------

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/19/2001 10:05:16 PM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc: "Keffer, John" <JKeffer@KSLAW.com>

Subject: Salmon Closing Memorandum

 <<30C_01!.DOC>>

Kay:

Enclosed is the initial draft of a closing memorandum for the Salmon
transaction.  Please review and advise of any comments.  Thank you.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

Enclosure: 140424v1

                    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.

 - 30C_01!.DOC


[IMAGE]IntercontinentalExchange
                                                                                Firm Physical Natural Gas Price Bulletin
[IMAGE]For Natural Gas Delivered on Thursday, December  27, 2001
                                                                                (Trade Date of Wednesday, December  26, 2001)
Click here to access index history


We hope to get the documents for this deal signed up within the next several
days.  Once these documents are executed, our biggest challenge will be to
accomplish all of the "physical" things
(permitting/approvals/construction,etc.) that will be necessary for us to
perform on this deal.  While we have every expectation that we will be able
to accomplish these things, our Bakersfield gas plant is in a very sensitive
environmental location, and we must acknowledge that there is always the
chance that we will not be able to get all required approvals, etc. from all
applicable authorities.  We have built strong "outs" into our agreements with
Oxy to protect us against this possibility (we won't be liable to them if we
can't perform because we can't get the needed permits/approvals), but we all
need to recognize that there is at least some degree of economic loss (in the
form of sunk costs) that we will suffer if this deal does not go through.

I believe that Enron's financial group has okayed this deal (Joe, please
confirm), and that we have spent about $1.5 million on this project to date.
Also, it is my understanding that we will be spending about $250.000 on this
deal per week as we move forward.  My understanding is that approximately
half of what we have already spent is on supplies/pipe/materials that would
be sellable/reusable if this deal does not ultimately make it for the reasons
stated above. I do not know the percentage of future expenses that would be
"salvageable."

In any case, this deal is a great opportunity for our West Coast segment, and
our mindset is that we WILL be successful in completing all
construction/permitting needed to perform with Oxy.  We want to begin
performing with Oxy as soon as possible, and to do this, we are
building/spending/constructing while, at the same time, nailing down all
needed approvals. Thanks.  SWD


Chris what is the deal number to this  incremental tkt??????

---------------------- Forwarded by Victor Lamadrid/HOU/ECT on 02/01/2000
03:21 PM ---------------------------
From: Joan Veselack@ENRON on 01/31/2000 05:54 PM
To: Dick Jenkins/HOU/ECT@ECT, Scott Hendrickson/HOU/ECT@ECT
cc: Joann Collins/Corp/Enron@ENRON@ECT, Robert Allwein/HOU/ECT@ECT, Victor
Lamadrid/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Chris
Germany/HOU/ECT@ECT
Subject: Re: Fixed price deal - PLEASE READ

Is this note to Brian below incremental gas????????

Meaning... Joann has a number about 250,000/day given to her by the LDC
Schedulers. This includes daily volume:

Who    Volume  Sitara Deal Ticket
CES Endusers    93689  143336
Choice    107489  148416
South Jersey   36900  142776
Penn Fuel   5000  151759
Hopewell   4500  139679
Texaco    255  136502
Engage   1966  142656
Florida Power and Light  152  151788

Total    249,951

Is there a way to put all incremental gas on one deal ticket??? It would make
our pathing life a lot easier too!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Chris Germany@ECT
01/31/2000 03:41 PM
To: bperron@columbiaenergy.com
cc: Joann Collins/Corp/Enron@ENRON, Joan Veselack/Corp/Enron@ENRON, Robert
Allwein/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT

Subject: Fixed price deal

I believe you did a fixed priced deal with Craig Taylor.  The price is
$3.06.  Could you get me the meter numbers?  This is what I have so far

COH Mrkt Area Monthly Vol Meter
7 5  700
7 1  1141
7 1  682
7 5  1993
7 5  2881
8 5  5534
9 5  12309
5 2  1577


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Conocoand Philips to Merge
 http://www.msnbc.com/news/659679.asp

Note that Philips had acquired major Alaskan oil and gas assets from Arco when the latter was acquired by BP, and Conocorecently bought Gulf Canada, which had substantial assets in the Mackenzie Delta.  The new company will thus have major interests in both areas.  This merger may have a negative impact on the chances for the Alaskan highway route and favor the Mackenzie Delta route plus some crossover route from the North Slopeto the Delta.  On the other hand, ?.

Energy Firms Agree to Support the Alaskan HighwayRoute

Foothills Pipe Lines announced a Memorandum of Understanding between nine USand Canadian energy transportation and marketing companies in favor of the Alaskan Natural Gas Transportation System to bring Alaskan gas to southern markets by 2008.  In addition to Foothills, signatories include Duke Energy Gas Transmission, El Paso Corporation, Enron Transportation Services, PG&E Corporation, SempraEnergy International, TransCanadaPipeLinesLimited, WestcoastEnergy Inc, and Williams Gas Pipeline.  The text of the MOU can be viewed at http://www.foothillspipe.com/byteserver.cgi/pdf/Nov15-MOU.pdf .

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


Jeff has agreed to participate.

Thanks,
Joannie

David W Delainey@EES
04/30/2001 05:12 PM
To: Jeff Skilling/Corp/Enron@ENRON
cc:

Subject: Macerich Conferences

Jeff,

I will be heading out to Macerich's offices to meet Macerich's management
team. At that meeting, we will be discussing the outsource and the future
relationship between the companies.  He would also like me to speak to his
direct reports about change management and other cultural characteristics of
Enron.  However, he would really like you to provide a presentation on the
same general topics to the Macerich Company Conference in June.  He has heard
you speak and believes your approach and perspective can benefit the
conference.

Obviously, these guys are an important relationship and reference for our
commercial and real estate business.

Let me know your interest.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/EES on 04/30/2001
05:05 PM ---------------------------

Angela Schwarz
04/27/2001 04:17 PM
To: David W Delainey/HOU/EES@EES
cc: Jeremy Blachman/HOU/EES@EES
Subject: Macerich Conferences

these are the conferences we discussed on Thursday.    Will discuss further
with you on Monday.  thanks

ams
---------------------- Forwarded by Angela Schwarz/HOU/EES on 04/27/2001
04:16 PM ---------------------------

Eric_Salo@macerich.com on 04/27/2001 02:09:53 PM
To: aschwarz@enron.com
cc: Arthur_Coppola@macerich.com, Rick_Bayer@macerich.com,
David_Contis@macerich.com
Subject: Macerich Conferences

Angela - thanks for making time to have dinner with us on Wednesday:  it
was great to see you.

As Art mentioned, since the time we have started working with you, we have
made frequent references to our operating teams about Enron's
accomplishments in the areas of customer excellence and employee
satisfaction.  More generally, we've held Enron out as an example of a
highly accomplished company in all the areas Macerich is currently focusing
on as an organization (operational integration, customer orientation,
scalability, change leadership, and strategic focus).

All of that being said, we would be extremely appreciative of an
opportunity to have either Jeff Skilling or Dave Delainey speak at either
of these conferences.  In any event, we're delighted that you would make an
effort to see if this can be put together.

Relative to upcoming Macerich events, there are two scheduled:

(1) University of Notre Dame Executive Education Program, May 7 - 9 in
South Bend.  The curriculum is centered on change leadership and strategic
thinking (officially "Enhanced Leadership and Strategy in the New
Economy").  Attendees include our Executive Team (Art, David, Rick,Tom, Ed,
and Larry Sidwell) and our Operating Team (17 SVPs).  There is also a
round-table discussion scheduled with our Board on May 9.

(2) Macerich's Company Conference, June 4 - 7 in Park Cities, Utah.  The
emphasis of the conference will be on our "e-Business Transformation" (more
specifically on becoming wholly integrated across functional roles,
customer facing, and highly scalable) and capturing value in our "Value
Network" (relationships we have with retailers, partners, vendors,
shoppers, etc.)  The attendees for this event include the same people at
UND as well as our managerial professionals from the malls and our
corporate offices (about 250 people, total).

Let me know if you need any additional background or information.

Eric


Attached is an proposed outline of the Brief we will file next week in the
Rate Design Case.  As you will see, the outline is more in the way of
putting out thoughts and highlighting where we need to reach some closure on
certain items as well as where I need some more input from you.  I would
like feed back on this by the end of the day Friday, as I plan to spend some
time on the brief this weekend. Perhaps we could spend some time talking
about it on either Thursday or Friday mornings' call.

 <<X23731.DOC>>

Jeanne Bennett

 - X23731.DOC


OPIC information
---------------------- Forwarded by Steven J Kean/HOU/EES on 08/02/2000 06:32
PM ---------------------------
From: John Hardy@ENRON_DEVELOPMENT on 08/02/2000 03:43 PM
To: Steven J Kean@EES
cc:
Subject: Enron projects with OPIC financing

Steve
 Here are the projcts which have OPIC financing:

  Batangas, Philippines - closed
  Dabhol I  - closed
  Dabhol II  - closed
  Trakya, Turkey  - closed
  Accro, Venezuela  - closed.

Projects in process:

  Cuiaba I  - Board approval received, Financially closed, awaiting
disbursement  (projected  August 15,2000)
  Guatemala PQ  - Board approval received, Not yet financially closed.
  Gaza  - Board approval received, Not yet financially closed,


Dude--
It was $5. My total bet for the game was $40. $5 to you, $20 to Porter, $15 to Mark Fisher.

Come on...don't try to run me over.
The gloating has to be worth $5.

B

 -----Original Message-----
From: 	Purcell, Mike
Sent:	Tuesday, November 13, 2001 10:01 AM
To:	Williams III, Bill
Subject:	$10

Upon further review from witnesses in the area at the time, the bet was actually $10.  Please deposit at my desk.

Thanks

Mike P. Purcell
Settlements Coordinator
Volume Management-Portland
503-464-8297


Big ticket item on here is the group dinner in Dallas for the ASE.  I can
view the entry and can click on attendees - but only see a list of 10 or 12
attendees.  There were 30 or so, plus Greg Piper and Lisa Petruska.  I am
missing a second page of attendees, or were only a few listed?  If I am not
missing a page, please ask Heather to include the complete list of attendees
(all who were at the ASE plus Greg and Lisa).  A $4,000 meal for 10 attendees
looks funny.  There were many more in attendance.  The cost of the meal makes
more sense with a complete list of attendees.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 03/30/2001 02:11 PM
---------------------------

eserver@enron.com on 03/30/2001 12:39:02 PM
To: "sally.beck@enron.com" <sally.beck@enron.com>
cc:
Subject: <<Concur Expense Document>> - Robert M Hall

The following expense report is ready for approval:

Employee Name: Robert Hall
Status last changed by:  Automated Administrator
Expense Report Name: Robert M Hall
Report Total: $5,648.12
Amount Due Employee: $5,648.12

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


Chris,

What information is needed for the exhibits to the Coral agreement?  I don't
remember.


As you are aware, Enron utilizes temporary staffing services to satisfy
staffing requirements throughout the company.  For the past several months, a
project team, representing Enron,s temporary staffing users, have researched
and evaluated alternative Managed Services programs to determine which source
would best meet our current and future needs in terms of quality, performance
and cost containment objectives.  The Business Unit Implementation Project
Team members are:

Laurie Koenig, Operations Management, EES
Carolyn Vigne, Administration, EE&CC
Linda Martin, Accounting & Accounts Payable, Corporate
Beverly Stephens, Administration, ENA
Norma Hasenjager, Human Resources, ET&S
Peggy McCurley, Administration, Networks
Jane Ellen Weaver, Enron Broadband Services
Paulette Obrecht, Legal, Corporate
George Weber, GSS

In addition, Eric Merten (EBS), Kathy Cook (EE&CC), Carolyn Gilley (ENA),
Larry Dallman (Corp/AP), and Diane Eckels (GSS) were active members of the
Selection Project Team.

As a result of the team,s efforts, we are pleased to announce the beginning
of a strategic alliance with CORESTAFF,s Managed Services Group.  This group
will function as a vendor-neutral management entity overseeing all staffing
vendors in the program scope. They will also provide a web based online
technology tool that will enhance the ordering and reporting capabilities.
The goal of our alliance with CORESTAFF is to make obtaining a temporary
worker with the right skills and experience easier while protecting the best
interests of the organization.

We plan to implement Phase I of this improvement effective January 2, 2001.
This Phase I of the implementation will encompass administrative/clerical
temporary workers at the Houston locations only. If you currently have
administrative/clerical temporary workers in your department, the enhancement
will not affect their position. In an effort to preserve relationships, all
current staffing vendors will be invited to participate in this enhanced
program.  CORESTAFF shares our commitment to minimize any disruptions in
service during this transition.

We expect to incorporate the administrative/clerical workers in Omaha,
Seattle and Portland in Phase II, which is scheduled for February, 2001.  The
scope and timing of any additional phases will be determined after these two
phases have been completed.

Realizing the impact that the temporary workforce has in business today, we
selected CORESTAFF,s Managed Services Group based on their exceptional
management team, commitment to quality service, and creative solutions to our
staffing needs.  The relationship promises to offer Enron a cost effective
and simple means for obtaining temporary employees.

In the coming weeks, Enron and CORESTAFF,s Managed Services Group will be
communicating to Enron,s administrative/clerical temporary staffing vendors
about the new process.

There are many benefits to this new Managed Services program, which are
outlined on the attached page.  More details on how to utilize CORESTAFF,s
Managed Services program will be announced soon and meetings will be
scheduled to demonstrate the reporting system and to meet the Managed
Services team.

What is Managed Services?

CORESTAFF,s Managed Services program includes:

? Vendor-neutral management model
? Equal distribution of staffing orders to all staffing partners
? Web-based application with online ordering, data capture and customized
reporting
? Benchmarking and performance measurement for continuous improvement
? Methodologies for accurate skill-matching and fulfillment efficiencies

Key Benefits

? More vendors working on each order from the outset ) faster access to
available talent pools
? Standardized mark-ups and fees to manage costs more effectively
? Online access to requisition status for users
? Robust databases offering managers enhanced tracking and reporting of
temporary usage and expenditures
? Standard and customized reporting capabilities -- online
? Tenured, experienced Managed Services team on-site to assist users in
accessing web site, identifying usage trends, preparing specialized reports,
etc.

Corestaff/Managed Services/Staffing

Joseph Marsh ) Lead / Operations (josephm@corestaff.com; 713-438-1400)
Amy Binney, Sharon B. Sellers ) Operations
Cherri Carbonara ) Marketing / Communications
Cynthia Duhon )Staffing Partner management


-----Original Message-----
From: Thorne, Judy
Sent: Tuesday, July 17, 2001 12:45 PM
To: Perlingiere, Debra
Cc: Nemec, Gerald; Dickson, Stacy E.
Subject: FW: NEW GISB CONTRACT
Importance: High

Debra,

Please contact Shari to discuss their special provisions to the GISB.

Thanks,
Judy

-----Original Message-----
From: Hill-Ward, Shari [mailto:SHillWard@hess.com]
Sent: Tuesday, July 17, 2001 11:13 AM
To: Thorne, Judy
Subject: RE: NEW GISB CONTRACT

Judy,

I am in process of finalizing the basic GISB Contract to prepare it for
execution....
However, I need to get a response back from you regarding OUR Special
Provisions I sent you....Most likely, we will have to COMBINE both of the
YOURS & OUR Special Provisions into one document....At that time, I will
forward it to our Legal Dept. for final review as they have to approve it...

I will await your response...Thanks!

Shari Hill Ward
Gas Contract Analyst
Hess Energy Services Company, LLC
Office:   (713) 609-4925
Fax:      (713) 609-4948
E-Mail:   shillward@hess.com

-----Original Message-----
From: Thorne, Judy [mailto:Judy.Thorne@ENRON.com]
Sent: Wednesday, July 11, 2001 8:58 AM
To: SHillWard@hess.com
Cc: Nemec, Gerald; Perlingiere, Debra; Mahabir, Alisha
Subject: FW: NEW GISB CONTRACT

Attached is a draft GISB for discussion purposes that includes our
company information as well as our special provisions. Our legal
department will work with you regarding the terms of your special
provisions. If you have any other questions, do not hesitate to call me.

Thanks,
Judy Thorne
ENA Upstream Company LLC
713-853-4758

-----Original Message-----
From: Hill-Ward, Shari [mailto:SHillWard@hess.com]
Sent: Tuesday, July 10, 2001 3:42 PM
To: Thorne, Judy
Subject: NEW GISB CONTRACT

Judy,

Pursuant to our telephone conversation this morning, attached please
find
the following:

> 1.       GISB Contract - Please complete Page 1 and forward back to
me.
> 2.       Special Provisions - Please review and let me know if you
have
>              revisions, or it is approved as is.

 <<ENRON-NEWGISB.doc>>  <<HESCO-SpecProv.doc>>

> In the meantime, if you have any questions, feel free to contact me.
> Looking forward to hearing back from you on Items 1 and 2 above.
>
>
> Shari Hill Ward
> Gas Contract Analyst
> Hess Energy Services Company, LLC
> Office:   (713) 609-4925
> Fax:      (713) 609-4948
> E-Mail:   shillward@hess.com
>
>