If we do this, we need to have both an internal group and an external group.

 -----Original Message-----
From: 	Hawkins, Don
Sent:	Wednesday, October 24, 2001 7:18 PM
To:	Hayslett, Rod; Thompson, Charlie
Subject:	RE: Need for Rutherford Consulting Complete

Rod, Charlie if we are looking for someone internally to do a review process, Sarabeth possibly can provide this function.  Your thoughts?

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Wednesday, October 24, 2001 7:31 AM
To:	Thompson, Charlie
Cc:	Hawkins, Don
Subject:	RE: Need for Rutherford Consulting Complete

Do you have a candidate?    I would argue that we are looking at a process review, so anyone who can do a process review could do this.

 -----Original Message-----
From: 	Thompson, Charlie
Sent:	Wednesday, October 24, 2001 7:01 AM
To:	Hayslett, Rod
Cc:	Hawkins, Don
Subject:	FW: Need for Rutherford Consulting Complete

Rod,

I agree with Kenneth Cessac's response.  We should evaluate our current process for collecting, validating and distributing measurement data and consider new ideas and alternatives to improve the process.  Assistance from a consulting firm that specializes in this area would probably be better than using Rutherford.

Charlie

 -----Original Message-----
From: 	Cessac, Kenneth
Sent:	Tuesday, October 23, 2001 3:53 PM
To:	Thompson, Charlie
Subject:	RE: Need for Rutherford Consulting Complete

This question has been raised several times over the past 10+ years, should we combine GMS, Field Operations, and some of the Gas Control functions to create a single source for measurement data.  I do not feel that changing a reporting relationship would correct any problems.

I feel the time and effort can e better spent improving our current data collect process and data flow between SCADA and PGAS.  While this process is working I feel that it requires to much manual intervention and handling.  The IT department, Measurement Technology, Gas Control Hot Seat, and the Data Analysis are all involved in keeping the data flowing between SCADA and PGAS.  We should step back and re look and the current process and see what improvements can be made to better control and maintain this process.

 A second area that should be looked at is the data validation process.  Currently Field Operations, Data Analysis, and GMS all  manually review measurement data.  With all of the computer and software technology available I feel that we could easily automate most of the current manual data validation.

I have limited experience with the Rutherford company and what they could provide towards improving these items.  I feel that a company that specializes in SCADA and such as UTSI would be a better option.

 -----Original Message-----
From: 	Hawkins, Don
Sent:	Friday, October 19, 2001 5:27 AM
To:	Thompson, Charlie; Cessac, Kenneth
Cc:	Hayslett, Rod
Subject:	RE: Need for Rutherford Consulting Complete

Charlie, Ken, I would like to meet with you this afternoon if possible (2:00 pm) so you can bring me up to speed on PGAS and Sullivan's concern so we can respond to Rod by early next week.

Thanks,

Don

 -----Original Message-----
From: 	Craig, Rick
Sent:	Thursday, October 18, 2001 10:28 PM
To:	Hawkins, Don; Thompson, Charlie; Cessac, Kenneth
Cc:	Hayslett, Rod
Subject:	FW: Need for Rutherford Consullting Complete

I'm going to defer this to the experts.  Please convey your thoughts to Rod.

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Thursday, October 18, 2001 1:15 PM
To:	Craig, Rick
Subject:	FW: Need for Rutherford Consullting Complete

Would you agree that something needs to be done?

 -----Original Message-----
From: 	Sullivan, Michael
Sent:	Thursday, October 18, 2001 12:22 PM
To:	Barnes, Caroline; Hayslett, Rod; Saunders, James; Hotte, Steve
Cc:	Stern, Ellis; Lewis, Greg
Subject:	RE: Need for Rutherford Consullting Complete

The PGAS reporting project recently completed requirements gathering meetings with data users in gas measurement technology, gas control, gms, gas accounting, and gas logistics.  We think, those discussions have pointed to a need to assess inefficiencies that appear to exist related to data integrity as data moves between systems and users that span the entire gas volume/quality collection, transformation and delivery process.  In other words there seem to be too many questions and reconcilliations that people have to address along the process as data changes hands and is used for different internal and external purposes.  There also appears to be a lack of a single point of responsibility in the organization for gas volume data from start to finish.
The PGAS reporting project proposed to assess this at a high level and make some recommendations.  But as important as the issue appears to be, you might want to consider using Rutherford to help ETS do a more thorough job of this.
This effort would extend outside FA&A.
Please advise.

 -----Original Message-----
From: 	Barnes, Caroline
Sent:	Thursday, October 18, 2001 11:29 AM
To:	Hayslett, Rod
Cc:	Stern, Ellis; Sullivan, Michael
Subject:	Need for Rutherford Consullting Complete

Mike, Ellis and I are in agreement that the need for the Rutherford Consulting group is complete.  Rutherford achieved what their goal was; to provide structure and format for the PGAS issues to be addressed in an efficient manner.  The procedures for listing new issues are in place and are being followed by the team.  The meetings are efficient in that only status updates and priorities are reviewed and discussed. There is now only one list for all issues that are being addressed or need to be addressed and they are prioritized.   The monthly meetings are now only needed twice a month.  What is the procedure for notifying Rutherford that their services are no longer needed on this project as they have completed what was asked of them?   cvb


---------------------- Forwarded by Chris Dorland/CAL/ECT on 01/13/2000 04:19
PM ---------------------------

"Jeff Stoffregen" <jeff_stoffregen@transcanada.com> on 01/13/2000 02:22:15 PM
To: Pat Gilbreath <pat_gilbreath@transcanada.com>
cc: Margaret Wimmenhove <margaret_wimmenhove@transcanada.com>, Darryn
Rouillard <darryn_rouillard@transcanada.com>, Sherri Harbaruk
<sherri_harbaruk@transcanada.com>, Chris Dorland/CAL/ECT@ECT
Subject: Linepack Purchase - Agreement Details

Pat,

Here is the information for another linepack purchase.  Please call if
there are any questions.

Agreement in place Jan 17,2000 to Jan 31,2000 (the gas will change hands
Jan 17-25)
Quantity: 415,000 GJ
Period: 15 days
Price: +$0.0074 CDN per GJ

Enron Canada Corp.
3500 Cantera Tower
400 - 3rd Avenue SW
Calgary, Alberta
T2P 4H2

Attn:  Chris Dorland
Ph:  (403) 974-6700
Fax:  (403) 974-6706

 - jeff_stoffregen.vcf


well, while waiting for Scott to call me back...(he went across the street to
the Cap)
this is where I found it on the Senate website --

http://www.sen.ca.gov/ftp/sen/committee/NEW_3191.htm

...then you click "audio" and it should load!


In addition to our direct exposure with PG&E Core, ENA has one outstanding
WMBE transaction with the counteraprty:

Nine Energy Services, LLC - Total Sale of 11,000 mmbtu ($238,000)

I have notified the trader and the WMBE Counterparty we can not do any
further business with PG&E under this process.

Russell


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 08/18/2000
11:01 AM ---------------------------

08/11/2000 06:43 PM
Phil Sisneros@ENRON COMMUNICATIONS
Phil Sisneros@ENRON COMMUNICATIONS
Phil Sisneros@ENRON COMMUNICATIONS
08/11/2000 06:43 PM
08/11/2000 06:43 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject:

in town most of next week--cell number is 503.701.3691.  i'd love to get
together even for 30 minutes if you have the time


the atm on 8/22 was for my po
the 300 on 9/4 200 for movers and 100 for us
the 200 on 9/10 was for my insurance

i did not like your call b/c i felt you were trying to accuse me of taking out money
so I am sry i know you did not mean that

dq

 -----Original Message-----
From: 	Quigley, Kay
Sent:	Wednesday, September 12, 2001 9:36 AM
To:	Quigley, Dutch
Subject:	Say hello

I am calling her at 10am our time this morning
---------------------- Forwarded by Kay Quigley/HOU/EES on 09/12/2001 09:35 AM ---------------------------

"Raymond Okafor" <offshoreworks@skannet.com> on 09/12/2001 06:56:51 AM
Please respond to "Raymond Okafor" <offshoreworks@skannet.com>
To:	"K-Kay Halbert Quigley" <kquigley@enron.com>
cc:
Subject:	Say hello

Wednesday 2pm

Dearest K-Kay and Dutch,
Was really hoping to hear from you by this morning.  After what we saw on CNN  last night I want to know that you both are okay  - haven't traveled - and all of your friends are okay too!
We're only getting bits and pieces of news and it's  so shocking.
I want to hear from you now even if it's just one  line!
Love MOM

<Embedded Picture (Device Independent Bitmap)>


Mark,

I recently moved back to ENA as director of trading accounting which includes
accounting for all of our futures activity.  We are getting a lot of
inquiries as to how Enron can save money regarding this activity.  One area
that was mentioned was Enron becoming a clearing member.  I was told this
route had been pursued in the past and dropped.  Your name was provided as
the Enron legal rep who worked this.  If possible, could you please provide
me with the reasons this avenue was not considered a good fit for Enron.  I
would like to have the correct facts to present when this comes up again in
my discussions.

Thanks for the assisstance.

    Greg x35399


-----Original Message-----
From:  Enron Announcements/Corp/Enron@ENRON
[mailto:IMCEANOTES-Enron+20Announcements_Corp_Enron+40ENRON@ENRON.com]  On
Behalf Of Donna Lowry- (Sr. Director RAC Compliance)@ENRON
Sent: Wednesday, June 13, 2001 7:47 PM
To: PG&E List@ENRON
Subject: PG&E BANKRUPTCY CASE-- IMPORTANT

As you may be aware, Enron Corp. is a member of the Official Unsecured
Creditors' Committee appointed in the Pacific Gas and Electric Company
bankruptcy case. Michael Tribolet with the Risk Assessment and Control Group
is Enron's designated representative on the committee and he is being
assisted by Lisa Mellencamp in the Enron North America Corp. legal group.
Please be advised that they will be restricted from disclosing certain of the
information that they receive.

Attached are Ethical Wall Procedures regarding confidential information that
Enron may receive as a member of the committee. It is important that you read
the procedures promptly, print the Employee Certification attached and sign
and return the Employee Certification to the Compliance Department as
directed.


Your own personal palm pilot hard at work.  As promised, here's a list of
UT's games this season...color coded for your convenience of course.

Sep 9                UL Lafayette,  12:30pm

Sep 16              at Stanford,   10:15pm

Sep 23              Houston,   TBA

Sep 30              Oklahoma St.,  TBA

Oct 7                 Oklahoma,   3:30pm  (a.k.a. "OU Weekend"...this is a
huge game...the two teams meet halfway at the Cotton Bowl in Dallas)

Oct 14               at Colorado,  TBA

Oct 21               Missouri,   TBA

Oct 28               Baylor,   TBA

Nov 4                at Texas Tech,  2:00pm

Nov 11              at Kansas,   TBA

Nov 24              Texas A&M,   3:30pm  (Thanksgiving Weekend)

 All Times Eastern

* Home games are in burnt orange...what else?


I have re-checked Sitara & verified that the above deal was a Term, Firm deal.  This resulted in a GTC Purchase Firm contract being set-up in the Global Contracts System.  The term of the GTC was set as the term of the deal (4/1/00 thru 3/31/01) with no evergreen, meaning that the contract will expire at the end of this month.

To the best of my knowledge, all GTC Purchase Firms have the same language & they do not have evergreen.  They expire at the end of the primary term.

So, unless Exxon negotiated a deal with different, special language to allow for evergreen & included something about a "10 day notification" to terminate, there isn't any reason to "terminate" this contract.

If this is the case, please advise.  Otherwise, I don't think we need to do anything.  The contract will expire at the end of this month on its own.

Elsa Villarreal
03/15/2001 02:42 PM
To:	Amelia Alland/HOU/ECT@ECT, Cheryl Dudley/HOU/ECT@ECT
cc:	Daren J Farmer/HOU/ECT@ECT
Subject:	Exxon Company, USA Global # 96035668/Sitara # 212225

Please prepare and send a termination letter by tomorrow March 16, 2001 on the above referenced deal.  Houston Pipe Line Company has not renegotiated a price and have no interest in buying the gas on an evergreen basis.  It is my understanding that we need to notify them within 10 days of the end of the delivery period

.  If you need any additional information or have any questions, please contact me at 35656.  Thanks.  EMV


Yes, I sent an origianl confirm to the customer.

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


Thanks.

 -----Original Message-----
From: 	Dietrich, Janet
Sent:	Monday, September 24, 2001 10:21 AM
To:	Dasovich, Jeff; Mara, Susan
Cc:	Shapiro, Richard
Subject:	Intention to Challenge the California's PUC's Decision to Suspend DA

EES is fully on board with these pursuits...
---------------------- Forwarded by Janet Dietrich/HOU/EES on 09/24/2001 10:18 AM ---------------------------
From:	Jeff Dasovich/ENRON@enronXgate on 09/21/2001 03:48 PM
To:	Richard Shapiro/ENRON@enronXgate, James D Steffes/ENRON@enronXgate, Paul Kaufman/ENRON@enronXgate, Harry Kingerski/ENRON@enronXgate, Steven J Kean/ENRON@enronXgate, Susan J Mara/ENRON@enronXgate, Jeremy Blachman/HOU/EES@EES, Janet Dietrich/HOU/EES@EES, Vicki Sharp/HOU/EES@EES
cc:
Subject:	Intention to Challenge the California's PUC's Decision to Suspend DA

?	The PUC's decision 1) suspending DA and 2) signaling the PUC's intent to continue to consider nullifying DA contracts signed after July 1 is full of holes.
?	We haven't detected any downside in joining with coalitions, and trying to get other coalitions, to appeal the PUC order.
?	Sue Mara is working with the ARM coalition to appeal yesterday's order and is taking the lead generally on the effort to reverse things.
?	The appeals that we would join, and attempt others to persue on their own, would focus principally on two issues:  1) disabusing the PUC of the notion that it has the legal authority to nullify contracts retroactively, and 2) lifting the suspension on DA altogether (let me know if I've missed anything here, Sue).

Please let us know if folks have any concerns that would cause us to reconsider pursuing these challenges.

Best,
Jeff


Happy New Year Dan!

Just checking to verify that you received the order form that I faxed to you
on December 18.  Please confirm.

Also, we brought a bottle of Freestone Hill to Pappas Steak House (on New
Year's Eve) for everyone to try.  The sommeliers raved.

Regards.  Sara

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


Jim, hold off until I let you know to go.

Thanks
dave


Great news!  Would the August 8th from 3:00-5:00pm work?  And we would love
for Mr. Lay to stay for dinner - is this doable?

-----Original Message-----
From: Kenneth.Lay@enron.com [mailto:Kenneth.Lay@enron.com]
Sent: Wednesday, October 24, 2001 9:54 AM
To: lafabby@nps.navy.mil
Subject: RE: Speaker Invite

   -----Original Message-----
   From:   "Fabby, Lane" <lafabby@nps.navy.mil>@ENRON
   Sent:   Tuesday, October 09, 2001 10:30 AM
   To:     Lay, Kenneth
   Subject:  FW: Speaker Invite

   Dear Lane -

   Ken Lay said to advise you that he can speak to the session August 5 -
   16.  He could do some time during the 8/6-9 timeframe.  Which day would
   work best?  Please indicate what the schedule would be also.

   Thanks very much.

   Rosalee Fleming
   713-853-6773

   Mr.  Lay,

   Hello.  Tori left a message requesting me to  send my invitation to you
   again...we really feel is it vital that now, more than  ever, our top
   military leaders need to hear from the private sector's top  leaders
   (like yourself) so that we can learn from their mistakes and  capitalize
   on their success.  I truly hope you will consider speaking  to this
   prestigious group of gentlemen who are the decision makers in  our proud
   military.  I look forward to hearing from  you.

   Respectfully,

   Lane  A. Fabby
   Special Assistant, CEE
   831-656-1027

   -----Original Message-----
   From: Fabby, Lane
   Sent:  Thursday, September 20, 2001 9:46 AM
   To:  'tori.l.wells@enron.com'
   Subject: Speaker Invite
   Dear Mr.  Lay,

   Hello...On behalf of Barry Frew, founding Director of the Center for
   Executive Education (CEE) located at the Naval Postgraduate School in
   Monterey,  California, I would like to invite you to be a guest speaker
   at the CEE for our  Revolution in Business Practices (RBP) Course - we
   believe you could most  definitely add value to our RBP Course for
   Executive Education which is a two-  week, high-quality, customized,
   executive-level program for Flag Officers,  Generals and Senior
   Executive Service members ( people who truly impact our  military).  We
   encourage provocative  discussions and would thoroughly enjoy hearing
   about your experiences and  knowledge regarding leadership, management,
   job satisfaction, retention, rewards,  etc.

   Our upcoming courses are October 22(superscript: nd-November 2nd,  2001;
   February 4th-15th, 2002; June  rd-14th, 2002; August 5th-16th,  2002.
   We are hoping these dates will work for you during one of  the scheduled
   courses.  For further  information, our main web site is )(superscript:
   www.cee.nps.navy.mil)(superscript:  << File: http://www.cee.nps.navy.mil
   >> .   Additionally, you can find some of our previous speakers
   (including Larry  Ellison - Oracle, John Chambers - Cisco Systems,
   Alfred Berkley III - NASDAQ,  etc.) at )(superscript:
   http://www.cee.nps.navy.mil/speakers.htm)(superscript:  << File:
   http://www.cee.nps.navy.mil/speakers.htm >> )(superscript: .)
   (superscript:   )
   (superscript:  )
   (superscript: If you have any questions or need additional information,
   please give  me a call...I would love the opportunity to tell you more
   about who we are and  what a difference we are making in the United
   States military.  I anxiously await your response!  )
   (superscript:  )
   (superscript: Sincerely,)
   (superscript: Lane A. Fabby)(superscript:   )
   (superscript: Special Assistant)(superscript:  )
   (superscript: PH: 831-656-1027)(superscript:  )
   (superscript: FX: 831-656-2580)(superscript:  )
   (superscript: E-mail: lafabby@nps.navy.mil)(superscript:  )
   (superscript:  )

**********************************************************************
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.
**********************************************************************


If you could be there just for the beginning.

Eric Le Dain / Barry / Rich / Liz / Jon / Chris D. / Chad


> -----Original Message-----
> From: Michael Heinrich
> Sent: Monday, March 12, 2001 4:17 PM
> To: Jacqlynn Wu
> Subject: Adjustment Bid Market Update
>
>  <<...>>
>
> 5201 Great America Parkway, Suite 522
> Santa Clara, CA 95054
> 408 517-2100
> 408 517-2985 fax
>
>
> March 12, 2001
>
>
> Dear Colleague,
>
> Thank you for your participation and support in resolving our problems
> this summer regarding congestion management in the California market.  As
> we have indicated, we believe that this problem is costing us millions of
> dollars today and continued pro rata schedule cuts as a method of
> congestion management will continue to reduce energy supply this summer
> and escalate substantially to well over $100,000,000 in replacement energy
> costs.
>
> As you suggested, we presented our solution of operating an adjustment bid
> market to manage congestion to the CAISO Board of Governors on February
> 28, 2001.  Following that meeting we were requested to work with the CAISO
> staff to develop a resolution to be presented at the next Board meeting on
> March 15, 2001.  The CAISO staff will be presenting their solution
> described as "Market Stabilization Plan/Interim Market Redesign" in a
> effort to resolve this and other problems.
>
> While the CAISO plan may have long-term benefits, it has been brought
> forward without the benefit of full stakeholder airing and we believe that
> it will be difficult to complete all software and systems work in time to
> have benefit this summer.  In addition, it will require significant
> participant re-education.  We are also very concerned about the amount of
> time remaining to complete this process along with the risks and costs
> associated with its implementation.  Therefore, APX will finalize its
> offer for the solution that we described to you on February 21 as an
> alternative to the CAISO staff plan during the upcoming CAISO Board of
> Governors meeting.  We know that our solution can be implemented in time,
> that it will improve adequate supply and that it will save millions of
> dollars this summer.
>
> We have heard from many of you that you support this market as a viable
> way of mitigating the high cost of congestion in the coming months. WE ARE
> ASKING FOR YOUR SUPPORT OF THIS PLAN WITH the CAISO Board of Governors on
> March 15, 2001.
>
>
> Sincerely,
>
>
>
> Michael L. Heinrich   John Stremel
> Vice President    Vice President
> Automated Power Exchange  Automated Power Exchange
>
>
> Mike
> Michael L. Heinrich
> Vice President
> Automated Power Exchange
> 5201 Great America Parkway
> Suite 522
> Santa Clara, CA  95054
> 408-517-2100
> Direct: 408-517-2159
> Mobile: 408-393-1092
> e-mail: mheinrich@apx.com
> www.apx.com
>
>


See attached.


Daren - can you get a deal set up for meter 6879 for Sept. 00?  There is flow
for day 1, it is a 16 day chart.  In Aug. there was a deal of 176 on deal #
133010 for Heatherloch Municipal Utility.  Please let me know if enter a
deal.  Thanks.

AL


Davis is saying he's had discussions with us about taking a loss on our
debts??  Have we had any such conversations w/ him? ( I told the media
yesterday we hadn't been contacted by him...)
---------------------- Forwarded by Karen Denne/Corp/Enron on 03/01/2001
09:08 AM ---------------------------
From: Ann M Schmidt on 03/01/2001 08:54 AM
To: Karen Denne/Corp/Enron@ENRON
cc:

Subject: Merrill Lynch Report: Governor Davis Comes to Wall Street

Karen,

FYI.  Ann

Governor Davis Comes to Wall Street
3/1/1 9:47 (New York)

                      M E R R I L L  L Y N C H        Research Bulletin
  Fixed Income Research                               Reference Number
10906001
  United States                                       Mar/01/2001 09:47
  Leo J. Kelser                                       (1) 212 449-7803

Highlights of This Issue

Governor Gray Davis of California met with a group of sell-side and rating
agency analysts in New York yesterday.  The Governor outlined his plan for
restoring the utilities to financial viability so that they can meet their
obligations.  Below we summarize a few highlights from the meeting.

Trying to Fit Solution Within Existing Rate Structure

The Governor talked about the need to find a solution to the utilities'
problems within the context of their existing rate structures. He indicated
that the temporary 9% rate hike from January 2000 would be made permanent and
that a 10% rate reduction that went into effect in January 1998 would be
reversed in March 2002.

Status of Negotiations with PG&E

As we noted in a February 26(**th) comment, the Governor has reached an
agreement in principle with Southern California Edison (EIX: B3/CC) to address
that utility's past under-collections.  He hopes to also have an agreement
with
PG&E within the next 30 days, suggesting that progress was made in particular
in the last 2-3 days.  However, the Governor acknowledged that reaching an
agreement with PG&E was more difficult due to its larger under-collected
balance and lower rates compared with SCE.

Some Generators Agree to Haircut

The Governor indicated that a couple of unnamed generators have voluntarily
agreed to accept less than 100 cents on the dollar for their past due
receivables. When pressed about which parties they've had constructive
discussions with, he identified Williams (WMB: Baa2/BBB-), Enron (ENE:
Baa1/BBB+) and Dynegy (DYN: Baa2/BBB+).  We note that most of the generators
and marketers with exposure to California have established reserves against
possible losses.  Importantly, the Governor said that he hoped that the banks
and bondholders would not be asked to take a haircut.

Prospects for Legislation and Possibility of Ballot Initiative

The Governor said he is quite confident that he can reach an agreement with
the
utilities that the legislature can support.  Although he admitted that he
couldn't prevent someone from proposing a ballot initiative, the governor said
that in the end, the acid test with the public is how it affects their pocket
books.  Thus, if there is ultimately a ballot initiative, Governor Davis is
optimistic that the public will be supportive of his plan given the limited
impact on electric rates.

Status of Defaulted Utility Debt

As we have commented in the past, it appears unlikely that the resulting
legislation will pass with the required 2/3majority to go into effect
immediately.  Accordingly, there will be a several month lag before the
utilities receive any cash.  In response to a question, it appears that the
state will not step in to help the utilities pay off any maturing or defaulted
commercial paper.  But the Governor and his advisers hope that legislation
will
provide enough certainty so that the companies can get bridge financing.
Essentially, it appears the Governor is leaving it up to the utilities to find
the money from their banks.

Governor's Strategy to Keep the Lights On

The Governor stated that a key reason that deregulation failed in California
was that no new power plants were built in the state for over twelve years.
In
the intervening time, demand caught up with supply.  In response, he has
proposed various conservation initiatives and is trying to expedite the
construction of new power plants.  He set a goal of having 20,000 megawatts
(mws) of new supply on line by 2004.

In addition, the governor highlighted the need for additional investment in
the
transmission infrastructure.  In particular, he cited the need to expand the
capacity to import more power from Arizona as well to improve the ability to
move power from south to north within the state. He suggested that part of the
rationale for the state taking over the utilities' transmission grids was to
ensure that the additional investment takes place.  He also suggested that the
state would lease the transmission lines back to the utilities to allow them
to
continue to operate them.

In the meantime, the focus is to move away from California's over-reliance on
the spot market.  In that vein, Calpine (CPN: Ba1/BB+) yesterday announced the
signing of two long-term contracts with the state's Department of Water
Resources (DWR).  One of those contracts was to sell up to 1,000 mws over a
ten-
year term.  The other was to provide up to 495 mw of peaking capacity under a
20-year contract.  Earlier in February, CPN had reached agreement with the DWR
on a separate 10-year contract for an additional 1,000 mws.

(EIX, WMB)  MLPF&S was a manager of the most recent public offering of
securities of this company within the last three years.
Copyright 2001 Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S).
All rights reserved. Any unauthorized use or disclosure is prohibited. This
report has been prepared and issued by MLPF&S and/or one of its affiliates and
has been approved for publication in the United Kingdom by Merrill Lynch,
Pierce, Fenner & Smith Limited, which is regulated by SFA; has been considered
and distributed in Australia by Merrill Lynch Equities (Australia) Limited
(ACN
006 276 795), a licensed securities dealer under the Australian Corporations
Law; is distributed in Hong Kong by Merrill Lynch (Asia Pacific) Ltd, which is
regulated by the Hong Kong SFC; and is distributed in Singapore by Merrill
Lynch International Bank Ltd (Merchant Bank) and Merrill Lynch (Singapore) Pte
Ltd, which are regulated by the Monetary Authority of Singapore.  The
information herein was obtained from various sources; we do not guarantee its
accuracy or completeness. Additional information available.
Neither the information nor any opinion expressed constitutes an offer, or an
invitation to make an offer, to buy or sell any securities or any options,
futures or other derivatives related to such securities ("related
investments").  MLPF&S and its affiliates may trade for their own accounts as
odd-lot dealer, market maker, block positioner, specialist and/or arbitrageur
in any securities of this issuer(s) or in related investments, and may be on
the opposite side of public orders.  MLPF&S, its affiliates, directors,
officers, employees and employee benefit programs may have a long or short
position in any securities of this issuer(s) or in related investments. MLPF&S
or its affiliates may from time to time perform investment banking or other
services for, or solicit investment banking or other business from, any entity
mentioned in this report.
This research report is prepared for general circulation and is circulated for
general information only.  It does not have regard to the specific investment
objectives, financial situation and the particular needs of any specific
person
who may receive this report.  Investors should seek financial advice regarding
the appropriateness of investing in any securities or investment strategies
discussed or recommended in this report and should understand that statements
regarding future prospects may not be realized.  Investors should note that
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price or value may rise or fall. Accordingly, investors may receive back less
than originally invested.  Past performance is not necessarily a guide to
future performance.
The bonds of the company are traded over-the-counter.  Retail sales and/or
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are exempt from registration or have been qualified for sale. MLPF&S usually
makes a market in the bonds of this company.
Foreign currency rates of exchange may adversely affect the value, price or
income of any security or related investment mentioned in this report.  In
addition, investors in securities such as ADRs, whose values are influenced by
the currency of the underlying security, effectively assume currency risk.
 Provider ID: 10906001
-0- Mar/01/2001 14:47 GM


Frank:

Attached is the TVA form of Schedule for you to do your "ISDA comparison".  SS

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 02/05/2001 05:59 PM -----

	Joseph Wagner@ENRON
	01/17/2001 12:29 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: TVA's Response to the ISDA Agreement

Here is what TVA sent me today.  Can you look at it and let me know of any
comments and suggestions you have.  Thanks.

-Joe
---------------------- Forwarded by Joseph Wagner/NA/Enron on 01/17/2001
12:26 PM ---------------------------

"Kelley, Kirk A." <kakelley@tva.gov> on 01/17/2001 12:25:21 PM
To: "'Joseph.Wagner@enron.com'" <Joseph.Wagner@enron.com>
cc: "Johnson, Larry A." <lajohnson@tva.gov>

Subject: ISDA Agreement

Mr. Wagner,

Larry Johnson has asked that I respond to your request regarding that status
of our review of your ISDA agreement.  Our counsel has requested that we use
TVA's standard agreement as a starting point, which I have attached for your
review.

 <<00046317_.doc>>
Please provide your comments to me at your earliest convenience or give me a
call at the number below.

Thanks,

Kirk A. Kelley
Manager, Credit
Risk Management
Tennessee Valley Authority
400 West Summit Hill Drive, WT 4C-K
Knoxville, TN  37902-1499
Phone:  865-632-3190
Fax:      865-632-4560
E-mail:  kakelley@tva.gov

 - 00046317_.doc


Michelle,  Will you know as soon as the funds have been received?  The EOG
guys in the field are ready to make this happen and the pad is ready for the
building, so please let me know when you get the $.
	Also, we did tell EOG in the meeting that they would need to have an
Enron inspector to ensure that the station was built to Enron specs.  We
also told them that they would needs some programming time from our
operating team members and Measurement Services in order for the station to
communicate with the SCADA in Houston, etc.   So, there should be some $
somewhere for these things to happen.  The station will also need to be
as-built, etc., and EOG would not know the required information for the
as-builts either.
Laura J. Kunkel
Project Manager
Trigon-Sheehan, LLC
505/627-9124
lkunkel@trigon-sheehan.com

-----Original Message-----
From: Lokay, Michelle [mailto:Michelle.Lokay@ENRON.com]
Sent: Monday, August 06, 2001 9:51 AM
To: Chanley, Earl
Cc: lkunkel@trigon-sheehan.com; Jolly, Rich
Subject: RE: EOG Pronghorn I/C bldg.

I just spoke with Mark Kraus from EOG.  He has received the SAP
spreadsheet itemizing the materials and is reviewing the information
with the folks from his field.  When the review is complete, a wire
transfer of funds will be sent to Transwestern.  Because Mark had been
expecting another invoice with the revised amount, he now anticipates
this review to take several days.  Once the funds are received, the
equipment will then be shipped.

Mark mentioned that he thought they were installing all the equipment
themselves and would not need our services.  What additional charges
could there be?

>  -----Original Message-----
> From: 	Chanley, Earl
> Sent:	Friday, August 03, 2001 2:38 PM
> To:	Lokay, Michelle
> Cc:	'lkunkel@trigon-sheehan.com'
> Subject:	FW: EOG Pronghorn I/C bldg.
>
> Michelle
>
> The material for the I/C is ready to ship to EOG. Do we go ahead and
> send the material or hold till they pay? The material is in the
> Roswell CDC and will remain there with the exception of the building,
> till we receive your response.
>
> Earl Chanely
>
>  -----Original Message-----
> From: 	lkunkel@trigon-sheehan.com@ENRON
> [mailto:IMCEANOTES-lkunkel+40trigon-sheehan+2Ecom+40ENRON@ENRON.com]
> Sent:	Friday, August 03, 2001 1:13 PM
> To:	Earl_Chanley@enron.com
> Subject:	FW: EOG Pronghorn I/C bldg.
>
> EC,  I got a call from Mike Abbott today and the building is ready to
> go.
> Do you know if Michelle has an agreement made or any $ for this
> material.
> Or, should we have this shipped to them on a "good faith" basis.
> 	In the previous attached memo, I told EOG that I would let them
> know
> when the building is ready, so I owe them a call as soon as I find out
> how
> Enron wants me to handle the material.  If you want me to call
> Michelle
> directly, I can do that, too, just let me know.  Thanks and have a
> great
> weekend!
> Laura J. Kunkel
> Project Manager
> Trigon-Sheehan, LLC
> 505/627-9124
> lkunkel@trigon-sheehan.com
>
>
> >  -----Original Message-----
> > From: 	Laura Kunkel
> > Sent:	Tuesday, July 24, 2001 3:43 PM
> > To:	'Jerry_Ball@eogresources.com'; 'Don_Pitts@eogresources.com'
> > Cc:	Earl Chanley (E-mail)
> > Subject:	EOG Pronghorn I/C bldg.
> >
> > I talked with Abbott Building Co. today and they said the building
> for
> > this project should be ready in about a week.  They will call when
> it is
> > ready to go and we'll let you know.
> > Laura J. Kunkel
> > Project Manager
> > Trigon-Sheehan, LLC
> > 505/627-9124
> > lkunkel@trigon-sheehan.com
> >

**********************************************************************
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.
**********************************************************************


Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 09/27/00 03:47 PM -----

	Brenda Whitehead
	09/11/00 09:16 AM

		 To: Alan Aronowitz/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Sandi M
Braband/HOU/ECT@ECT, Teresa G Bushman/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT,
Michelle Cash/HOU/ECT@ECT, Barton Clark/HOU/ECT@ECT, Harry M
Collins/HOU/ECT@ECT, Shonnie Daniel/HOU/ECT@ECT, Peter del
Vecchio/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Shawna Flynn/HOU/ECT@ECT,
Barbara N Gray/HOU/ECT@ECT, Wayne Gresham/HOU/ECT@ECT, Mark E
Haedicke/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT,
Dan J Hyvl/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT, Travis McCullough/HOU/ECT@ECT,
Lisa Mellencamp/HOU/ECT@ECT, Janet H Moore/HOU/ECT@ECT, Janice R
Moore/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT, David
Portz/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT, Lance Schuler-Legal/HOU/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT,
Mark Taylor/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Steve Van
Hooser/HOU/ECT@ECT, Ann Elizabeth White/HOU/ECT@ECT, Stuart
Zisman/HOU/ECT@ECT, Roger Balog/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Anne C
Koehler/HOU/ECT@ECT, Michael A Robison/HOU/ECT@ECT, Lou Stoler/HOU/ECT@ECT,
Robert Bruce/NA/Enron@Enron, Angela Davis/NA/Enron@Enron, James
Grace/Corp/Enron@ENRON, Mark Greenberg/NA/Enron@ENRON, Brent
Hendry/NA/Enron@Enron, Kay Mann/Corp/Enron@Enron, Martin W
Penkwitz/NA/Enron@Enron, John Viverito/Corp/Enron@Enron, Karen E
Jones/HOU/ECT@ECT, Alan Larsen/PDX/ECT@ECT, Dale Rasmussen/HOU/ECT@ECT,
Christian Yoder/HOU/ECT@ECT
		 cc:
		 Subject: Municipalities Memo

per the request of Mark Haedicke/Elizabeth Sager, please see this
attachment:


I know you were anxiously awaiting these documents.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/21/2000 06:10
PM ---------------------------

"Thompson, Peter J." <peterthompson@akllp.com> on 12/21/2000 04:54:53 PM
To: "George Kutzschbach (E-mail)" <gkutzschbach@fulbright.com>
cc: "Kay Mann (E-mail)" <kay.mann@enron.com>

Subject: FW: CA Development II

-----Original Message-----
From: Thompson, Peter J.
Sent: Thursday, December 21, 2000 5:48 PM
To: Kay Mann (E-mail)
Cc: Kent. Shoemaker (E-mail); Lee. Johnson (E-mail); Pipitone, Paul;
Cobb, Chris
Subject: CA Development II

Attached please find the most recent version of the CA Development II
Agreement and Exhibits as well as a blackline against the version
circulated on December 4.  I will be forwarding to Kay Mann the
execution copy that will incorporate both the agreement and exhibits
into one document, which will also include Exhibit H-2.
 <<CA Development Energy II Comparison of v. 3 to 5.DOC>>  <<CA
Development II Comparison of v1 to current.DOC>>  <<Exhibits for CA
Development II Agreement CISO2 Execution Copy.DOC>>  <<break out
agreement--CIS02 (12/20/00).DOC>>


From http://www.enerfax.com:

Northwest Spot Power Prices Rise

   Spot power prices in the Pacific Northwest continued higher
yesterday amid unit outages and strong natural gas prices. A
projected weekend outage at the 1,087 MW Diablo Canyon Unit 2 nuclear
power plant and a 10-day outage at the 820 MW IPP Unit 1 coal power
plant should keep supplies scarce heading into next week. At COB,
power for today rose over $15 to $270. Power sold at Mid-Columbia for
today was up $15 at $267. Concern is mounting about the possibility
of a dry year in the Pacific Northwest, which could keep prices high
into the spring. In the Southwest, power prices declined amid lower
day-ahead demand. According to the California PX, demand  will peak
at 32,435 MW today. Palo Verde slipped $36 to $137 per MWh, while
Mead traded down $32 at $146 per MWh.

Alliance Begins Commercial Operations

    Alliance pipeline is finally ready to begin commercial shipment
of Canadian natural gas to Chicago from northern British Columbia
today and operators are already talking about expanding the system.
Originally scheduled to begin flowing in October, the delayed opening
is set for the pipeline to begin transporting today. The addition of
the $3 billion Alliance pipeline's capacity curbed price increases at
Chicago yesterday relative to spikes in the Northeast. Cold weather
headed for the East Coast triggered a 9% price jump in the region's
prices yesterday.
Prices at the New York City gate surged $0.75 per MMBtu to a record
high of $7.20, while Chicago prices were only Up $0.35 at $6.41 per
MMBtu. Canada supplies about 16% of US natural gas. Alliance is one
of two new pipelines beginning operations this week. BC Gas C$375
million Southern Crossing Pipeline from eastern British Columbia to
the West Coast began pumping 250 MMcf per day on Thursday in
competition with Westcoast Energy. For its part, the Alliance system
is seen by some as a key link in the eventual transport of Arctic
natural gas to market. BP Amoco has assumed the transportation
responsibilities of eight shippers on the pipeline whose volumes
total more than 250 MMcf per day, and plans to increase that amount.
Alliance partners include Westcoast Energy, 23.6%; Enbridge, 21.4%;
Fort Chicago Energy Partners, 26%; Williams, 14.6%; and Coastal,
14.4%.

We will be adding Southern Crossing to the next base case.

Also, some corrections are needed in our Alliance model.  Further research
shows that the maximum receipt capacity from B.C. to be about 300 / day
(9,120 / month) and from A.B. to be 1,950 / day (59,280).  Alliance
receives no supplies in the Northwest Territories and has no plans for
doing so.  The only existing connection to NWT is into Westcoast.  I would
change its capacity to 400 / day (12,160 / month), increasing to 500 / day
(15,200) in 2002.  Nova (TCPL Alberta System) is considering an extension
into NWT in the future.  The current base case shows a need for more than
500 / day starting in 2006.  So, I've set up a supply link from NWT into
Nova at 300 / day starting in 2006.

Pollution Credits Shutting Down California Power Plants

    AES says output from three of its power plants in southern
California has been cut in half due to a shortage of pollution
credits. AES Pacific has curtailed 2,000 MW of a total capacity of
4,000 MW at its three natural-gas fired plants in the Los Angeles
area, Alamitos, Huntington Beach and Redondo Beach. The move followed
the filing of a petition by the South Coast Air Quality Management
District related to its Alamitos plant which had exceeded its NOX
emission allocation. Both Huntington Beach and Redondo Beach were
close to reaching their NOX allocations. The plants could operate if
the California ISO declared a power emergency.  An arbitration board
is due to rule in late December on the air quality district's
petition. California has been struggling to meet surging demand for
power this year. There have also been few power plants built during
the last decade and the California ISO has had to issue numerous
power alerts this year as operating reserves dropped to critical
levels. The California ISO says a number of other plants are also
running out of pollution credits.

Coastal to Buy Pipe for Gulfstream

     Coastal has agreed to buy steel pipe for the Gulfstream natural
gas pipeline from Berg Steel Pipe Corp for $310 million. Coastal's
774-mile pipeline will run from Mobile, AL across the Gulf of Mexico
to Tampa. Duke and Williams, which had been developing a competing
project, agreed earlier this month to buy Coastal's pipeline. Terms
were not disclosed. Coastal's purchase was for the 36-inch diameter
pipeline to run through the Gulf of Mexico and the 36-inch and 30-
inch pipe for Florida. Pipe production will start immediately with
delivery starting early next year in Port Manatee, Florida, and
Mobile. All of the pipe is scheduled for delivery by September, and
the pipeline is scheduled to start by June 2002. Coastal plans to
complete the sale of the Gulfstream system this quarter.

According to Williams' Buccaneer website, upon closure of the purchase of
Gulfstream by Williams - Duke, Gulfstream will be built in lieu of
Buccaneer.  Our next base case database will reflect this change.

Power Marketers Accused of Manipulating Prices

    Enron, PG&E Energy Trading, Duke Energy Trading and Marketing,
Sempra Energy Trading and Dynegy Power Marketing are among a dozen
energy companies accused in a lawsuit of conspiring to manipulate
California wholesale electricity prices.  The lawsuit claims
companies selling electricity in California intentionally limited
supply to drive up prices. The suit seeks certification as a class
action covering all electricity consumers in California, estimates
damages in excess of $1 billion. The allegations in the lawsuit are
based on a number of studies of the state's electricity market that
concluded it was not functioning normally. Southern California Edison
and PG&E's Pacific Gas & Electric filed suit against state officials
separately last month for permission to charge customers billions of
dollars for losses from open-market power purchases.

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


There will be a Staff Meeting with Kevin Presto TODAY in 32c2 from 4 - 5pm.

Thanks

T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760


If you want, you can have Dave Woodstrom do the query for you since he should now have access with that ID.


Sally,
Thanks for the voice-mail.  While we have selected a date, it is not cast in
stone.  If there is another date that works better and would allow more of
the individuals to participate, that is fine with me.  I just want to make
sure that the Program is being responsive.  Incidentally, I did not realize
that Rick would be out of town, so it is no problem to change the date.

You indicated that you would be willing to provide a few bullet points
regarding the issues you and the group would like for us to address.  That
would be great.  Please forward those at your earliest convenience.

I will assume that you will notify the other individuals of the date and time
of the meeting, Wednesday, April 19th at 10:00 a.m.   If this assumption is
not correct please provide the names of the other individuals who will attend
the meeting and I will call them.  Also if you decide it makes sense to
change the date, just let me know.

Thanks for your assistance.


Return-Path: <charlesshen8@yahoo.com>
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10:43:02 PDT
Date: Wed, 4 Oct 2000 10:43:02 -0700 (PDT)
From: Charles Shen <charlesshen8@yahoo.com>
Subject: hello from Charles Shen at Williams Co.
To: vkamins@ect.enron.com
Cc: vkaminski@aol.com
MIME-Version: 1.0
Content-Type: text/plain; charset=us-ascii
X-Mailer: Unknown

Dear Vince:

How are you? I am not sure whether you still remember
me, we met in a conference last year in Houston. After
having been working for Williams for about two years,
now I am ready to make a move. I have heard Enron is a
great company, I am wondering whether there is any
opportunity for me, either in research group or in
structure group

Here is brief description about myself: Right after I
got my Ph.D. on finance and econometrics from Duke
University in 1998, I joined Williams Energy Trading
company as a Quantitative Analyst. Now I am Lead Quant
and in charge of the quantitative research group with
7 highly talented people. I have done extensive
research and modeling about electricity,
load-following deal and tolling deals.

If you need any additional information, please feel
free to call me at 918-409-4308. I look forward to
hearing from you soon, thank you.

sincerely,
Charles

__________________________________________________
Do You Yahoo!?
Yahoo! Photos - 35mm Quality Prints, Now Get 15 Free!
http://photos.yahoo.com/


STEVE KEAN

Executive Committee Weekly Meeting
Date:  Monday, April 23rd
Time:  11:00 a.m. (CDT)
Location: 50th Floor Boardroom
Video:  Connections will be established with remote locations upon request.
Conf call: AT&T lines have been reserved.  Please contact Sherri Sera
(713/853-5984)
  or Bill Dorsey (713/646-6505) for the weekly dial-in number and passcode.

Please indicate below whether or not you plan to attend this meeting and
through what medium.

 Yes, I will attend in person ____X___

 By video conference from _______

 By conference call  _______

 No, I will not attend  _______

*  *  *

Please return this e-mail to me with your response by 12:00 p.m., Friday,
April 20th

Thank you,
Bill Dorsey.


Vince-

Here is an analysis of the fund giving at the church.

First off, it appears from the data that a special "appeal" for fund giving
was made (from the pulpit?) on April 19, 1998 and April 25, 1999, (perhaps
tied rhetorically into Income Taxes?). Then, by going back and incorporating
obvious dates from the calendars for 1997-1999, the following regression
analysis is made, where each effect is added independently:

giving this Sunday = $4403

+ a minor $3 weekly time trend (i.e., multiply by the number of weeks since
Jan. 5, 1997)

+ no pure effect from last week's contributions (i.e., denies first-order
autoregressive effects)

+ $2426 if Easter Sunday or the Sunday nearest Christmas

+ $9695 if (pastoral appeal) April 19,1998 or April 25,1999

- $340 if the Sunday falls on the weekend of a Monday Federal holiday

- $50 if the Sunday following Thanksgiving

- $73  if a Summer weekend (June 1 thru August 31)

The pure time trend is very small, so an annual projection based on all 3
years data would be for giving to increase only a minor amount ($150) for
2000 assuming a similar appeal for giving is made this April.

Clayton


Good afternoon ladies,

I am working with Vince Kaminski, Director of Research, Enron Corp. and John
Martin, Chair of Finance at Baylor University to schedule one hour time slots
with Ken Lay, Jeff Skilling and Andy Fastow.

Vince and John Martin are jointly authoring a 20-40 page paper, written in
the style of a Harvard Business Review piece, about 'Transforming Enron
Corporation as an Act of Managerial Will - The Value of Active Management'.
Attached below you will find a brief outline of the proposed case study,
although I have requested John Martin to provide us with the specific
questions he will be asking all three participants.

We would like to schedule the one hour interviews on the following dates:

Monday, December 4th

Tuesday, December 5th

Week of December 11th

Please let me know at your earliest convenience which of the above-mentioned
dates/times works best with everyone's calendar.  Thanks a million.


Thank you!  We've received your registration for the 75th Anniversary Dinner.
 Mark your calendar and plan to have an enjoyable evening.

Sincerely,
Meetingstop@aol.com


I will be out of the office this afternoon, beginning at 1 p.m.  Should
anyone receive a call or question regarding the PGEV Hub, please call Mark
McCoy at extension 33396.  Thank you.

Mary


Fred wanted to get this draft out today, so I had to get it back from Mary
and get Robert Bruce to review it, then sent it out.


---------------------- Forwarded by Scott Hendrickson/HOU/ECT on 05/14/2001 08:03 AM ---------------------------

"Julie Gomez" <onvacation@pdq.net> on 05/13/2001 07:34:04 PM
To:	<scott.hendrickson@enron.com>
cc:
Subject:	Book for Rayfael

Good Morning Scooter-

I have ordered the book Stinson recommended for  Rayfael from Amazon.  It should come in later this week.

Julie  :-)


Ken,

After numerous efforts to secure an audience with President Fox, we have
been successful in scheduling a lunch with him on the 27th of June.  In
addition to our usual reasons for taking this very important one-day
trip, I have been advised by Presidencia (equivalent for our "West
Wing") that during this face-to-face meeting, we would have the
appropriate opportunity to invite President Fox to visit Houston.  I
have just received written confirmation of the 2:30 p.m. luncheon
meeting.  I will be going to appropriate GHP Boardmembers and major
investors to determine who would be available to participate.   I wanted
to give my leadership heads up and request any thoughts or ideas that
you may have on this subject matter as well as to determine your
availability.

Regards,

Miguel

Miguel R. San Juan
President, World Trade Division
Greater Houston Partnership
1200 Smith, Suite 700
Houston, Texas  77002

Phone:   713-844-3639
Fax:       713-844-0239
Email:    msanjuan@houston.org

Visit our website:   www.houston.org

 - winmail.dat


fyi
---------------------- Forwarded by Steven J Kean/NA/Enron on 07/18/2001 07:15 AM ---------------------------
From:	Jeff Dasovich on 07/17/2001 07:31 PM
Sent by:	Jeff Dasovich

To:	skean@enron.com, Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Harry Kingerski/Enron@EnronXGate, Leslie Lawner/Enron@EnronXGate, Michael Tribolet/ENRON@enronXgate, Kristin Walsh/Enron@EnronXGate, Karen Denne/Enron@EnronXGate, mpalmer@enron.com, Janel Guerrero/Enron@EnronXGate, Paul Kaufman/Enron@EnronXGate, Susan M Landwehr/Enron@EnronXGate, Linda Robertson/NA/Enron@ENRON
cc:

Subject:	California Update--0717.01

What people know:

Hertzberg (et al's) bill (82XX)was heard in an "informational" hearing today and still sits in the Assembly Energy Committee.  It will be heard again tomorrow (perhaps beginning at 10 AM) , at which time parties will have a chance to support/oppose and ask for amendments.  Most, including us, oppose unless significantly amended.
The Wright (D) -Richman (R) bill (83XX)was heard in an "informational" hearing today and still sits in the Assembly Energy Committee.  It will be heard again tomorrow, at which time parties will have a chance to support/oppose and ask for amendments.  From our perspective, this is the best bill out there yet, though it still has serious problems---it isn't available electronically yet, but should be tomorrow, and I'll distribute then.  The chances of the joint D-R bill being successful are slim, however, since it's up against the Speakers competing bill.  There is talk that the Speaker will try to negotiate with Wright/Richman tonight and include any agreement in his bill (82XX).
The original version of the Governor's MOU bill sits in the Senate.  Most believe that Burton will put it up for a vote this week and it will fail.
The Senate's version of the MOU (Sher-Peace-Kuehl) (78XX)came out today.  It will likely be heard in the committee tomorrow or the next day.  Notably, it kills Direct Access completely and makes Edison shareholders responsible for that portion of Edison's debt owed to suppliers.  In short, a very bad bill.
Burton's 18XX, which would de-link the bond issuance (to pay back the General Fund) from the DWR contracts is likely to pass the Senate tomorrow or the next day.  Many--including Enron--support the bill (though we are supporting it behind the scenes).

What people don't know:
Whether there's the time or the will in the Assembly and Senate to achieve by Friday a single, comprehensive bill that can be sent to the governor for his signature.
Whether the Legislature would postpone its month-long recess if the Legislature hasn't finished a bill by Friday (most folks think they will not postpone).
Whether it's true that, irrespective of the energy issue, the Legislature will fail to get the budget completed by Friday and therefore have to postpone their recess anyway, in which case they might continue to work on the energy legislation at the same time.

Odds-makers still say it's better than 50-50 that the Legislature does not get the Edison bills done by Friday and leaves on on its 30-day vacation.

Best,
Jeff

Sacramento is one goofy place.


Becky:

I didn't have anything for her, so I can't complete the review form.

Marie

 -----Original Message-----
From: 	Spencer, Becky
Sent:	Monday, July 02, 2001 2:02 PM
To:	Heard, Marie; Nemec, Gerald; Keneally, Walter; Van Hooser, Steve
Cc:	Meadows, Rae
Subject:	Comments Needed-Norma Gundersen for Rae Meadows 07/02

Your comments are needed for Norma Gundersen who sat in for Rae Meadows.  Please return as soon as possible.  Thank you!-Becky

	Excellent = 5       Above Average = 4      Average = 3            Below Average = 2            Poor = 1

	Initiative

	Cooperation

	Punctuality

	Attendance

	Quality of Work

Would you request this person again Y/N?

Comments:


How kind of Carol to alert us the day of closing that you are the person who
needs to review the documents. Can you call me at 5-4998.  Thanks.  JNE

---------------------- Forwarded by Joel Ephross/Corp/Enron on 08/31/2000
08:30 AM ---------------------------
   Carol St Clair @ ECT                08/31/2000 08:29 AM

To: "MURIEL McFARLING" <MCFAM@andrews-kurth.com>@ENRON
cc: Brenda L Funk/HOU/ECT@ECT, Gareth Bahlmann/HOU/ECT@ECT, Joel
Ephross/Corp/Enron@ENRON

Subject: Re: Enron/Tahiti

Muriel:
I am on maternity leave.  Please start sending docs for these transactions
to  Sara Shackleton.  Thanks.,

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	"MURIEL McFARLING" <MCFAM@andrews-kurth.com>
	08/30/00 09:03 PM

		 To: <alan.quaintance@enron.com>, <Brenda.L.Funk@enron.com>,
<carol.st.clair@enron.com>, <charles.delacey@enron.com>,
<Clement.abrams@enron.com>, <David.roland@enron.com>,
<gina.karathanos@enron.com>, <Joel.ephross@enron.com>,
<tina.livingston@enron.com>, <trevor.randolph@enron.com>,
<trushar.patel@enron.com>, <mniebruegge@mayerbrown.com>,
<tellwood@mayerbrown.com>, <eawilburn@prickett.com>, <Tamullen@prickett.com>,
<kenton@rlf.com>, <mark.wolf@us.cibc.com>, <mercedes.arango@us.cibc.com>,
<schottla@us.cibc.com>, <aroberts@wilmingtontrust.com>
		 cc:
		 Subject: Enron/Tahiti

In connection with the Tahiti Transaction, attached  in WordPerfect format
are each of the following documents marked against the previous version
circulated last night.  The remaining documents have not been revised.

Trust Agreement of Tahiti (254424)
Beneficial Interest Certificate (254806)
Series Supplement Creating Series Z (254816)
Tahiti Series Z Certificate issued to Fiji Z (254975)
Promissory Note from Tahiti (254802)
Amended and Restated LLC Agreement of Fiji Z, L.L.C. (254423)
Promissory Note from Fiji to Tahiti (254977)
Promissory Note from Bora Bora to Fiji (254979)
Sale and Auction Agreement (255084)
Assignment of Bali Promissory Note to Fiji (255717)
Trust Agreement of Bali (255146)
Reimbursement and Disclosure Agreement (255563)
Promissory Note from Bali to Bora Bora (254981)
Certificate Distribution Agreement (255568)
Subscription Documents (255729); and
Direction Letter to Owner Trustee of Bali (254980)

If you have any questions or comments, please call Muriel McFarling or David
Barbour at (713) 220-4242 as soon as possible.  Thank you.

Muriel C. McFarling
Andrews & Kurth L.L.P.
1717 Main Street, Suite 3700
Dallas, Texas 75201
(214) 659-4461
(214) 659-4784 (fax)

 - 254979.wpd
 - 254424.wpd
 - 254802.wpd
 - 254806.wpd
 - 254816.wpd
 - 254975.wpd
 - 254977.wpd
 - 254423.wpd
 - 254980.wpd
 - 254981.wpd
 - 255084.wpd
 - 255146.wpd
 - 255563.wpd
 - 255568.wpd
 - 255717.wpd
 - 255729.wpd


Richard

Contact information is as follows.

Office number:   713-599-2656
Fax		713-599-2859

email	          jebeling@tractebelusa.com

Address	1177 West Loop South, Suite 900
		Houston TX  77027

New home number is 713-662-2537

Address	4118 Underwood
		Houston  TX   77025

See you tomorrow morning if you're in town.
Jim


The attachment below recaps our meeting from this morning.  Highlights from last week are noted and commitments for this week are detailed as well.  Let me know if anything has been left off the list.  --Sally


Please print all attachments for me.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 09/01/2000 04:24 PM
---------------------------

Anthony Key
08/29/2000 03:28 AM
To: Shona Wilson/NA/Enron@Enron, Sally Beck/HOU/ECT@ECT, Brent A
Price/HOU/ECT@ECT
cc: Naomi Connell/LON/ECT@ECT
Subject: due dilligence checklist for acquisitions

As requested by Shona, attached is a blank SOAP form, a completed SOAP form
for your review and a simple presentation on how the SOAP process operates.
Hope you find it useful. Please come back to me if you need any more info.

Anthony

---------------------- Forwarded by Anthony Key/LON/ECT on 29/08/2000 09:29
---------------------------

Naomi Connell
29/08/2000 08:55
To: Anthony Key/LON/ECT@ECT
cc:

Subject: due dilligence checklist for acquisitions

Could you get this out to the people below - thanks
---------------------- Forwarded by Naomi Connell/LON/ECT on 29/08/2000 08:50
---------------------------

	From:  Shona Wilson @ ENRON                           28/08/2000 14:44

To: Sally Beck/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT
cc: Naomi Connell/LON/ECT@ECT

Subject: due dilligence checklist for acquisitions

I'm in the process of putting together some slides for the presentation on
the 7th.  In doing this, I was reviewing the global operations presentation
and  noted on the global operations initiative slide one of the initiatives
listed is "creation of due diligence checklist for acquisitions." I know
Naomi Connell has put together the SOAP which her group in London uses for
this purpose which might be useful.

Naomi - could you send the three of us a copy of this document?

Thanks

Shona


----- Forwarded by Dan J Hyvl/HOU/ECT on 03/02/2001 10:29 AM -----

	Noel Butler <NBUTLER@SusmanGodfrey.com>
	03/02/2001 08:26 AM

		 To: "'Dan.J.Hyvl@enron.com'" <Dan.J.Hyvl@enron.com>
		 cc:
		 Subject: FW: Marketing Screw Ups

-----Original Message-----
From: Nichole Tardy [mailto:nichole@roadrunner-moving.com]
Sent: Friday, March 02, 2001 8:26 AM
To: 'Barbara'; 'Dad'; 'Melany Bastubee (TWI)'; 'Melonie W.'; Noel
Butler; 'Shelly D - (TWW)'; 'Shelly Williams (TWI)'
Cc: Jeannie Hill
Subject: FW: Marketing Screw Ups

> Top 10 Most Brilliant Marketing Screw Ups
>
> 1. Coors put its slogan, "Turn it loose," into Spanish, where it
> was read as "Suffer from diarrhea."
>
> 2. Scandinavian vacuum manufacturer Electrolux used the following in an
> American campaign: "Nothing sucks like an Electrolux."
>
> 3. Clairol introduced the "Mist Stick", a curling iron, into
> German only to find out that "mist" is slang for manure. Not too
> many people had use for the "manure stick."
>
> 4. When Gerber started selling baby food in Africa, they used the same
> packaging as in the U.S., with the beautiful Caucasian baby
> on the label. Later they learned that in Africa, companies
> routinely put pictures on the label of what's inside, since most
> people can't read.
>
> 5. Colgate introduced a toothpaste in France called Cue, the name of a
> notorious porno magazine.
>
> 6. An American T-shirt maker in Miami printed shirts for the
> Spanish market which promoted the Pope's visit. Instead of "I saw the
> Pope" (el Papa), the shirts read "I saw the potato" (la
> papa).
>
> 7. Pepsi's "Come alive with the Pepsi Generation" translated into "Pepsi
> brings your ancestors back from the grave", in Chinese.
>
> 8. Frank Perdue's chicken slogan, "it takes a strong man to make
> a tender chicken" was translated into Spanish as "it takes an
> aroused man to make a chicken affectionate."
>
> 9. The Coca-Cola name in China was first read as "Ke-kou-ke-la",
> meaning "Bite the wax tadpole" or "female horse stuffed with
> wax," depending on the dialect. Coke then researched 40,000
> characters to find a phonetic equivalent "ko-kou-ko-le",
> translating into "happiness in the mouth."
>
> 10. When Parker Pen marketed a ball-point pen in Mexico, its ads
> were supposed to have read, "it won't leak in your pocket and
> embarrass you". Instead, the company thought that the word
> "embarazar" (to impregnate) meant to embarrass, so the ad read:
> "It won't leak in your pocket and make you pregnant."
>


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/02/2001
05:08 PM ---------------------------
From: Cathy Phillips on 01/31/2001 05:58 PM
To: Mark Frevert/NA/Enron@Enron, Mike McConnell/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT, Doug Arnell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan
Aronowitz/HOU/ECT@ECT, Pierre Aury/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT, Rick
Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kathryn
Corbally/Corp/Enron@ENRON, Stephen H Douglas/HOU/ECT@ECT, Jennifer
Fraser/HOU/ECT@ECT, Shanna Funkhouser/Corp/Enron@ENRON, Eric
Gonzales/LON/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Vince J
Kaminski/HOU/ECT@ECT, Larry Lawyer/NA/Enron@Enron, Chris Mahoney/LON/ECT@ECT,
George McClellan/HOU/ECT@ECT, Thomas Myers/HOU/ECT@ECT, John L
Nowlan/HOU/ECT@ECT, Beth Perlman/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT,
Daniel Reck/HOU/ECT@ECT, Cindy Skinner/HOU/ECT@ECT, Stuart
Staley/LON/ECT@ECT, Mark Tawney/HOU/ECT@ECT, Scott Tholan/Corp/Enron@Enron,
Lisa Yoho/NA/Enron@Enron, Neil Davies/Corp/Enron@ENRON
cc: Nicki Daw/NA/Enron@Enron, Cathy Phillips/HOU/ECT@ECT, Jennifer
Burns/HOU/ECT@ECT, DeMonica Lipscomb/Corp/Enron@ENRON, Yvonne
Francois/Corp/Enron@Enron, Angie Collins/HOU/ECT@ECT, Donna
Baker/HOU/ECT@ECT, Helen Marie Taylor/HOU/ECT@ECT, Chantelle
Villanueva/HOU/ECT@ECT, Betty J Coneway/HOU/ECT@ECT, Patti
Thompson/HOU/ECT@ECT, Cherylene R Westbrook/HOU/ECT@ECT, Candace
Parker/LON/ECT@ECT, Sharon Purswell/HOU/ECT@ECT, Gloria Solis/HOU/ECT@ECT,
Brenda J Johnston/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kim
Hickok/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan McCarthy/LON/ECT@ECT, Paula
Forsyth/Corp/Enron@ENRON, Kristy Carnes/NA/Enron@ENRON, Shirley
Crenshaw/HOU/ECT@ECT, Jody Underwood/NA/Enron@ENRON, Kathleen D
Hardeman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stuart
Cichosz/Corp/Enron@ENRON, Judy Zoch/NA/Enron@ENRON, Sunita
Katyal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Legal Temp 3/HOU/ECT@ECT
Subject: EGM Presentation - Revised Version

Attached below is the most recently revised copy of the Enron Global Markets
presentation.  Please disregard all previous copies and use the attached
information when preparing presentations.

Please let me know if you have any questions.  Thank you.

Cathy Phillips
713-853-6898


?
 - 05_15_01ON.xls


We will be holding floor meetings on the following dates.  Please join us for
a general overview and Q&A session on one of the following floors:

Wednesday, 4/17/01 - 2:00 - 3:00 p.m. Location:  In front of EB2711

Thursday, 4/24/01 - 2:00 - 3:00 p.m.  Location:  In front of EB2556

Friday, 4/26/01 - 2:00 - 3:00 p.m.  Location:  In front of EB2265

Philippe & Greg


-----Original Message-----
From: Angie.Buis@enron.com [mailto:Angie.Buis@enron.com]
Sent: Tuesday, February 29, 2000 9:35 AM
To: Heather.Choate@enron.com; Marvia.Jefferson@enron.com;
Lisa.Shoemake@enron.com
Cc: Kathleen.Kelley@enron.com; Bill.D.Hare@enron.com;
George.Smith@enron.com; Edward.Terry@enron.com;
Lisa.B.Cousino@enron.com; Mam@teamlead.com; ERW@teamlead.com;
Kimberly.Perkins@enron.com
Subject: COACHING SESSIONS WITH MIKE MAULDIN

I regret to inform you that this week's coaching sessions with Mike Mauldin
have been cancelled.  Mike has asked that we keep the recurring schedules
in place beginning with next week (March 6).


Attached is the May 2001 "At A Glance" report. A couple of additions this
month, which include a section on Capital Expenditures with Pay Backs and
some analysis of the recent new hire survey that we set up. Please call if
you have any questions.

DCL


Susan B. should have gotten our draft of the referenced guaranty to you.  It
still needs to be reviewed by the physical gas group since we are amending
their guaranty.  Do you care about any allocation of payments between HPL and
ENA?  At the moment, I do not have any allocation language in the guaranty.
SS


Please let me know if I can help in any way.


>  -----Original Message-----
> From:  Modi, Rishi
> Sent: Friday, October 06, 2000 4:59 PM
> To: 'don.miller@enron.com'
> Cc: Al-Farisi, Omar; Heckler, James
> Subject: Round I Bid List
>
> Don-
>
> Please find attached the updated Round I Bid List.
>
>  <<Round I Bids.rtf>>
>

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.

 - Round I Bids.rtf


Lee,

You should be receiving a package shortly containing the following:

1. Changed pages for CA Energy Development I and CA Energy Development II
facility agreements.  These are the same pages that were faxed to you and
Kent a few days ago.  I also included a couple of original pages (73, 74, I
think) which were missing from one of the originals.  This need to be
initialled and executed.
2. Acknowledgement letters for each of CAED I and CAED II which need your
Here's the form:

3. Assignment and assumption agreement to move the equipment from TurboPark
to the CAED I.  There will be one for CAED II as well.  This document is
being reviewed by the bank, so I'm not convinced it is in final form.  You
will note that there is an acknowledgement section for GE.  I cut and pasted
from the consent to assignment from the TurboPark documents, but shortened
the whole thing considerably.  Here's that document:

4.  Signature pages (signed by Enron) from the ESA deal, both the facility
agreement and the override letter.  Obviously, we need your signature.

I will forward the final CA facility agreements to you once again, along with
the blacklines against what you initialled.

Thanks,

Kay


Kimberly,  I'm sorry I missed the conference call regarding Gallup Power yesterday.  I understand you have assigned one of your staff to review the Gallup power contract.  I would like to work closely with that individual to make sure my power peak model matches the contract interpretation.

I am not certain I've got the latest version of the contract.  My copy is dated 7/17/2000.

Gary Choquette


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/20/2001
01:45 PM ---------------------------

VKaminski@aol.com on 03/19/2001 11:12:34 PM
To: vkamins@enron.com
cc: VKaminski@aol.com
Subject: List0319

isranir@rice.edu, demianen@rice.edu, tbal93@yahoo.com, maue@rice.edu,
loughrid@rice.edu, jblantonjr@yahoo.com, gjohnson@rice.edu,
emchombo@rice.edu, nazareth@rice.edu, vanstone@rice.edu, ganguzza@rice.edu,
nelsonb@rice.edu, sssmith@rice.edu, wheelock@rice.edu, westmore@rice.edu,
gaudette@rice.edu, otaylor@rice.edu, dikeman@rice.edu, jettke@rice.edu,
litton@rice.edu, chilkina@rice.edu, helms@rice.edu, wankhade@rice.edu,
monfan@rice.edu, kostya@rice.edu, pcp@rice.edu, yueguo@rice.edu,
nlwbio@rice.edu, zhangn@rice.edu, rishad@rice.edu, yoshiura@rice.edu,
howard@rice.edu, dayangd@rice.edu, wuwei@rice.edu, so@rice.edu,
wooddy@rice.edu, lamas@rice.edu, tbalestrery@houston.rr.com,
hingoran@rice.edu,
planck@rice.edu


Alejandra,

here is the information that I hope you'll be using from time to time: :)
e-mail: vladislav@lycos.com
birthday: october 1st
phone no.: 713 993-00-67

Although my phone no.# might change if they kick me out of Enron :), I think my birthday and e-mail won't.

Stay in touch!!!

Vladi.

P.S. Please forward me your info too.

 -----Original Message-----
From: 	Chavez, Alejandra
Sent:	Tuesday, November 13, 2001 9:56 AM
To:	Videtto, Melissa; Fowler, Kulvinder
Cc:	Keiser, Kam; Johnson, Luchas; Espey, Darren; Palmer, B. Scott; Royed, Jeff; Singla, Kimat; Worthing, Ashley; Hungerford, James; Hernandez, Elizabeth L.; Soto, Elizabeth; Love, Phillip M.; Mills, Bruce; Best, Kristine; Riordan, Sean; Frank, Carole; Rabon, Chance; Winfree, O'Neal D.; Ryder, Patrick; McLaughlin Jr., Errol; Vargas, Laura; Pehlivanova, Biliana; Pimenov, Vladi; Loibl, Kori; Plachy, Denver; Thibaut, Dan; Grant, George; Severson, Russ; Lilly, Kyle R.; Kulic, Sladana-Anna; Perich, Stephen; Underwood, Thomas; Clause, Kristen; Brady, Edward; Hopkins, Stephanie; Culotta, Lindsay; Austin, Chris; Cavazos, Amy; O'Rourke, Ryan; Tian, Yuan; Monroy, Gabriel
Subject:	RE: Happy Hour for Alejandra

Hello to everyone.

I hope each of you can make it tomorrow, but if you can't I hope we can still keep in touch.  I'd love to have your address, email (external), birthday, and phone number. I'd also like to thank each of you for your friendship during this past year.  It has been great working with you!  Peace and blessings to all.

Alejandra

AlejandraChavez@hotmail.com

 -----Original Message-----
From: 	Videtto, Melissa
Sent:	Monday, November 12, 2001 3:12 PM
To:	Fowler, Kulvinder
Cc:	Keiser, Kam; Johnson, Luchas; Espey, Darren; Palmer, B. Scott; Royed, Jeff; Singla, Kimat; Worthing, Ashley; Hungerford, James; Hernandez, Elizabeth L.; Soto, Elizabeth; Love, Phillip M.; Mills, Bruce; Best, Kristine; Riordan, Sean; Frank, Carole; Rabon, Chance; Winfree, O'Neal D.; Ryder, Patrick; McLaughlin Jr., Errol; Vargas, Laura; Pehlivanova, Biliana; Pimenov, Vladi; Loibl, Kori; Plachy, Denver; Thibaut, Dan; Grant, George; Severson, Russ; Lilly, Kyle R.; Kulic, Sladana-Anna; Perich, Stephen; Underwood, Thomas; Clause, Kristen; Brady, Edward; Hopkins, Stephanie; Culotta, Lindsay; Austin, Chris; Cavazos, Amy; O'Rourke, Ryan; Tian, Yuan; Monroy, Gabriel; Chavez, Alejandra
Subject:	Happy Hour for Alejandra

Please join us this Wednesday night so we can spend time with Alejandra on her last night in Houston and wish her the best of luck on her move to El Paso, TX.

When: Wednesday night, November 14, 2001
Time: Drop by when you can beginning around 5:30
Where: The Dog House Tavern (directions below)

Hope to see everyone there!!!

Address:
2517 Bagby

From downtown:
Head Away from downtown on Smith Street
Take a Right on W. Gray
Take a Left on Bagby
The Dog House Tavern will be on your left - it is in a small shopping center on the corner of Smith and McGowen.


Well it looks like Eric is now officially burden with an oppressive
mortgage.  Won't be long before he is out mowing the lawn in Bermuda short
and sandals with black socks.  Eventually all the good ones go down.

What up with you, JT?

G$


I think I have a meeting at 3:00.

Call me when you have time tomorrow and we will set a time.

Hunter
x34772


Vince,

FYI.

Prof. Gabriel Bitran of the M.I.T. management science department is planning
to visit EBS on Wednesday, Aug. 9, to discuss research topics which might be
of interest to EBS.   (This is Amit Dhadwal's advisor.)   He still has 25K of
funding to use for research, but we are having a hard time coming up with a
mutually suitable topic.   I have asked Samer to work with him in trying to
come up with a research subject.

Stinson


1)  Army Guerrara - 713-817-4180 - army710@msn.com - called about a gas originator in N. California

2)  Todd Kubicki - 630-990-7510 - tkubicki@kappasearch.com

3)  Joelene Whittaker - 801-531-6500 - jwhittaker@stmassociates.com - called about an originator position in Denver - eprime or PSCO

4)  Patti Broderson - 770-792-1962 - Wyndham Mills - called about several jobs - one with FPL as a power originator in California

5)  Matt Shipman - 214-720-6001 - mshipman@kronckecolman.com

6)  Jon Halliburton - 713-965-9381 - jon_halliburton@prostaff.com

Looks like I'm going to Denver to live with Paul Lucci - he said I wouldn't have to pay rent?!?!?!?!?!

Send me your list too.

K.


Please find following this meeting reminder the Agenda for the Staff Meeting
referenced below:

 Date:  Thursday, November 16th
 Time:  8:30 AM PST
 Location: Small Conference Room
 Call-in: 415-782-7849

As I am just filling in for Joseph this week, please let me know if I am
leaving any vital info out or you see anything incorrect!  Thanks for  your
patience.

Esther

Staff Meeting Agenda
for
Thursday, November 16, 2000
Time:  8:30 AM PST
Call-in Number:  (415) 782-7849

Paul Kaufman

? Updates to Internal Resources Report
? New RCRs
? Schedules

Sue Mara

?  WPTF Update
? FERC CA Investigation - Update
? Code of Conduct for PX
? Budget Status

Jeff Dasovich

Mona Petrochko

Mary Hain

Note:  Includes Agenda responses up to 3:00, Wednesday November 15, 2000.


Marketing

--  Red Lake / (Pataya) Storage  - per the press release, Aquila has purchased 100% of this project being developed by SouthWest Gas.  The proposed 12 Bcf facility, located 30 miles north of Kingman, Arizona near the terminus of TW, will begin its open season the week Feb. 4.  They anticipate tying into both TW and El Paso.  We are exploring options with Aquila to tie in the Sun Devil project plus a new compressor at Kingman, AZ.  The compressor will help Aquila buck TW's line pressure plus facilitate pressure requirements at the California border for TW.

--  Drafting new marketing proposals to both APS and Panda based on the lowered facility costs.

Engineering -  New facility costs are estimated at $831 million and include an additional lateral to serve the APS Red Hawk plant.  Capacity to Phoenix will be 750,000 MMBtu/d with only 30,000/d available for Cal Border.  This is a $100 million improvement versus our original scenario.  The improvements are based on reduced pipe looping to serve Cal Border plus reduced or eliminated compressor stations.  The benefit is reflected in a lower initial capital cost plus lower annual operating expenses.  Rates to Phoenix are estimated at $0.45/MMBtu on a 20 year term with a project salvage value of less than $200mm at the end of the initial term.


Handout 'Pier One Solution Spreadsheet from Dennis' for Class: 'E283-1: Real Estate Finance' is now available through the Izio system.  You will find it in the 'Handout' section.

Note: To stop receiving these notifications, please uncheck the box labeled 'I want to be notified by email when course information is updated' in the 'Properties' section under the HOME menu bar.

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I am about to leave to go to the store.  Mimi is at our house. I can't get a
hold of anyone about counseling.  I have left several messages.  My day
started out ok, but I feel like I am about to loose it again.  Please call
me on my cell phone if you have time to talk.  I guess I just need some
reassurance that we will be able to fix this if we work very hard.  I just
want you to believe that.
heart
me


Any word yet?  I don't mean to rush you, but Tenaska IV is being very
persistent.
---------------------- Forwarded by Megan Parker/Corp/Enron on 12/04/2000
03:55 PM ---------------------------

	From:  Megan Parker                           12/01/2000 02:45 PM

To: Daren J Farmer/HOU/ECT@ECT
cc:

Subject: Re: Tenaska

That sounds great.  Because of the accrual, I cannot draft this today.  I
will try it on Monday.  What about the demand fee for the payable to Tenaska
IV.  Do you think that is a good idea?  I explained it to Kris Hanson and she
agreed that it was the best way to book this payable.  We would need a new
demand purchase ticket for Tenaska IV on the Cleburne desk in the amount of
$2,803,586.41 with no volume and no commodity.  This is more than we owe
Tenaska IV, but I will net it with the Tenaska IV sale and the $0.04 demand
fee to pay a net amount of $1,551,050.76.  I have attached my spreadsheet
which details our payment.  We will have to adjust this number once we get
the actual volumes.  I would like to pay Tenaska IV next week, so please let
me what you think.

Thanks,
Megan


Your SAP ID and Password will be communicated to you on June 22.  This
ID/Password combination will enable you to . . .

access eHRonline to modify your personal information, view your pay advice,
access your individual time sheet, and view your benefit elections.
enter financial, procurement, project management, and/or human resources
information based on the system security you have been assigned.

Current SAP users receiving this e-mail will be receiving a new ID to replace
their current one as part of the 7-1-00 implementation -- the new ID will be
a "P#" (Personnel Number) generated from SAP HR.

If you have questions or comments, please call the COE SAP Hotline at
713-345-4SAP (4727) or visit our web site at http://sap.enron.com/coe.

Thank you.


FYI
Content-Transfer-Encoding: quoted-printable
Date: Thu, 02 Nov 2000 12:03:14 -0600
From: "Tracey Bradley" <tbradley@bracepatt.com>
To: "Paul Fox" <pfox@bracepatt.com>, "Ronald Carroll" <rcarroll@bracepatt.com>
Subject: Reuters - Calif. utilities cautiously back FERC market changes
Mime-Version: 1.0
Content-Type: text/plain; charset=US-ASCII
Content-Disposition: inline

Calif. utilities cautiously back FERC market changes

SAN FRANCISCO, Nov 1 (Reuters) - California's investor-owned utilities
cautiously endorsed the Federal Energy Regulatory Commission's (FERC)
proposed changes to the state's troubled power market Wednesday.

While the companies generally described FERC's plan as a starting framework
to repair the market, they said more steps are needed before final changes
can be adopted.

FERC said earlier Wednesday that a probe into California's newly deregulated
electricity markets showed drastic changes were needed to prevent a
repetition of this past summer's price spikes and near power blackouts.

Regulators, though declaring power prices charged this summer were not "just
and reasonable," as required by law, said they did not have the legal
authority to demand refunds from generators, some of whom have made huge
profits selling power in the California market.

FERC also blocked a new price cap plan for wholesale electricity that was due
to be implemented later this month by the California Independent System
Operator, which oversees operation of most of the state's power grid.

Pacific Gas and Electric Co. (PG&E), the state's largest utility, called the
FERC report "a sound beginning to the process of repairing the marketplace"
but said more action is required at the state and federal level before "a
working, competitive energy market can be realized in California."

PG&E, a unit of San Francisco-based PG&E Corp. , welcomed FERC's proposed
temporary change to the auction process to set electricity prices.

Bids above $150 per megawatt hour could not set the market clearing prices
paid to all bidders. That means traders would not be able to bid up prices
for short-term supplies as they did last summer, when prices rocketed as high
as $1,000 per megawatt hour in hourly markets, and to $695 per megawatt hour
in the day-ahead market.

PG&E said in a statement the bid framework is "a creative attempt to fix the
market and moderate prices, while still allowing competition to evolve."

Edison International's Southern California Edison (SCE) unit applauded FERC's
findings but urged FERC to continue to investigate "market abuses by sellers"
and to take steps to make the market "workably competitive and to stabilize
electricity prices for our customers."

"Clearly more work is required here," Stephen Frank, chief executive officer
of SCE, said in a statement, adding he was pleased that FERC was not closing
the door on its investigation of past market power abuse, and that future
electricity trading "would be subject to refunds in cases where abuses are
determined."

Stephen Baum, chairman and CEO of San Diego-based Sempra Energy , called
FERC's conclusions "bittersweet".

"We're unhappy there are no refunds, but happy they found the market was
broken, which is what we've been saying all along," Baum told Reuters.

Sempra's San Diego Gas and Electric utility was the first to feel the full
effects of the competitive marketplace, with its customers' monthly bills
more than doubling this past summer, triggering a consumer revolt in the
southern California city and calls for action to repair the market.


Hi, Lauren:

I cannot find the new email address for the Allegheny lawyer for delivery of
a revised ISDA Schedule.  I left a voice mail for Yair Yaish and for Laurie
Peddicord
but have not heard back.  Can you provide me with the latest information?
Are you the lawyer who should receive this Schedule?  Please let me hear from
you.  Thanks.

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


Executive Summary
?	Davis struggles to find Senate support for SoCal transmission deal
?	Only chance of deal going through is a one-time quick vote; if deal has to go to hearings - it will probably die
?	If not transmission deal, legislators will seize assets and seek price caps
?	Asset seizure would target power contracts, then power plants; as a result the endless court battles will ensue, but this gives Davis opportunity to continue to blame generators and marketers
?	Bankruptcy for SoCal is still the most likely scenario, with the QFs or SoCal itself likely to file if the transmission deal dies or gets amended
?	Congressional democrats rally around Davis and seize opportunity to blame the Administration

Transmission Deal and Democratic Support
As Governor Gray Davis scrambles to build support for his SoCal Ed. transmission proposal, one thing is evident; the longer the deal is exposed to public debate, the less likely it is to pass.  In fact, politicians have been so leery of the deal that Davis has been unable to locate even one sponsor to introduce the bill in the Senate.  In the eyes of many Democratic legislators (and all Republicans) forcing SoCal Edison into bankruptcy is looking like a better option than buying the transmission lines; that is why the Governor's senior strategists have quietly been trying to schedule a quick "up or down" vote on the transmission line purchase as early as next week.  The bill is currently not scheduled to be voted on in effort to avoid debate, however, if there is an opening within the next two weeks and Davis feels he has enough support, it will be pushed through.  Because the SoCal deal needs every piece in place as "negotiated" by Davis' team, the team wants no amendments allowed on the Assembly floor and a quick vote.  If this unlikely fast track strategy fails for Davis, the prospects for the transmission lines purchase will deteriorate steadily (keep in mind that that it cannot even be resubmitted to the Assembly until it has been vetted by SoCal Edison attorneys).  According to sources, the legislature is going to try to modify the Memorandum of Understanding between Gov. Davis and SCE.  However, the Senate leadership does not believe there will be sufficient support to pass even a modified MOU. Burton reportedly believes that at least 6 Democrats will vote against it along with the Republicans.  The more that bill gets picked apart in public, the uglier it looks and the more Democrats will realize that they are all alone in supporting it.

Another problem faced by the legislatures is the deal is in favor of SoCal and not the state.  Among other things, the state is overpaying by about $1.5 billion for the transmission lines.  Additionally, the MOU Davis has with SoCal. Ed nearly matches, point for point, the deal Davis condemned with PG&E.

Asset Seizures
Since before the PG&E bankruptcy filing, we have maintained that asset seizures through eminent domain would become a major pursuit for increasingly frustrated Democrats.  Davis' legal office has thoroughly scrubbed the law on eminent domain seizures of everything from power generating assets across California to existing power contracts negotiated by, whom Davis's calls, "profiteering power brokers".  Of course, everyone in the Governor's office understands that any seizing would immediately end up in state and federal courts, and would be a legal nightmare (there are a few minor Constitutional, legal and interstate commerce problems). The main thing is that the seizing would continue Davis's main approach to this problem -- management by press conference -- and it would put the Governor and Democrats on the right side of the issue -- punishing the capitalist leeches.  According to one senior Democratic legislator, there is movement within Democratic members of the state Assembly to demand that Davis agree to seize the power contracts in return for their vote in favor of the power transmission purchase. Of course, taking the contracts would only be setting a precedent for taking the power plants.  The appeal of seizing the contracts is that it would allegedly put California state officials in charge of where the power is sold and reduce mark-ups substantially as they used the contract power authority to provide spot-market power purchases before peak emergency conditions drive the price through the roof.

Price Caps
One strong indication as to whether or not summer price caps will occur depends powerfully on decisions made by the three Republican Governors from Colorado, Alaska and Wyoming. These three were the key players during the Portland Western Governor's Conference last January and, according to senior White House officials, it took the personal and prolonged intervention of President Bush himself to peel these three away from an otherwise unanimous call for price caps from the governors. "If they had signed that price cap appeal," the administration source said, "we would already have price caps. So if they start to make it clear something has changed, we will have to listen."  Sources indicate that if these Republican leaders begin to rethink their opposition to price caps, the Bush administration will be forced to reconsider price caps as a remedy for the West.

Cost Plus Caps -- Think of these as Republican price caps in that their first duty is to make sure private companies make money and have incentives to provide power into the affected grid. Just to give some idea of magnitudes in a cost plus deal, current discussions would put a cap on power costs at something like $250 per kilowatt hour. That is a long way down from the August futures contract that is pricing in $750 per kilowatt hour, but a long way above last August's $150/kwhr price and a particularly long way above the cost of generating this power, which is something like $25-30/kwh.

Market-Price Exceptions -- The option allows the Bush administration to have political credit for imposing price caps. As we write, FERC is currently ,in the process of considering permit renewals for five companies generating power in California (Duke, Dynegy, AES, Reliant and Williams).  The permit grants a further three-year waiver that allows them to sell power into California in the existing "whatever price the market will bear".  In other words, FERC could simply not grant these companies the right to sell energy at the market price, perhaps by changing a definition of controlling market share, and then power to control prices would revert back to FERC.

Technically, in granting the extension of these permits, FERC has to establish a formal finding that the five power companies do not wield "market power" -- that means they cannot affect the price of energy by withholding power at crucial times. Of course, FERC has just found on three different rulings in the last four months that the companies wield exactly that kind of ability over market prices and has ordered minor rebates to adjust for the subsequent price spikes. But that would mean FERC would have to want to wield effective power over price capping in California and they have shown no desire on that front. The escape clause for FERC simply to renew the waivers is that they are routinely renewed unless the company applying for waivers controls more than 20% of an electricity market and none of these companies come close.

In other words, the waivers option lets FERC escape if the Bush administration and FERC commissioners really want to escape. Once again, that decision may be more in the hands of the three Republican Governors than anywhere else in the country. But you can be certain that in the past few days Administration officials have become fully aware of the potential political liabilities of doing nothing except advocating more nuclear and coal power plants.

Democrats Seize Opportunity to blame Bush
Senior political leaders now think the total energy bill for the year could come in as high as $60 billion, which would destroy state finances for a decade.  Add to that the constant drumbeat of numbers that voters hear everyday about their own direct out-of-pocket electricity costs (they paid $7 billion for electricity in 1999, $27 billion in 2000 and are expected to pay $70 billion this year -- ten times the rate two years ago. Then, of course, they open bills with massive rate increases that bring all those incredible numbers home in a very direct way, and, well, who can blame the Democrats for saying there is a simple solution, but the White House won't allow it.

National level Democrats realize California's power crisis is a prime opportunity to chastise the Bush administration and its free-market advocate, FERC Chairman Hebert, over their resistance to summer price caps.  As California's leaders calculate this year's taxpayer energy bill at potentially $60 billion, a rogue's gallery of Democratic congressional leaders are currently meeting with Governor Davis and coordinating efforts to fan out across the eight western states of the power grid with a singular message: "the solution to all western voters electricity problems lies right in Washington DC, at FERC headquarters controlled by Bush Administration appointees."  And as the political dialogue takes on a more aggressive national tone and its possible impact on control over the US Congress comes more into focus, the solutions articulated by California's Democrats who sense they have Republicans on the run in the West become less and less "free market" focused.  The two strains of the Democratic solution that are becoming an unavoidable part of the energy picture are asset seizures and price caps.


NGI's Daily Gas Price Index
published : October 29, 2001
ALJ Clears Transwestern of Market Power Charges
A FERC administrative law judge has found no improprieties, nor evidence of the exercise of market power in negotiated rate contracts between Transwestern Pipeline and two shippers on its system, which resulted in the shippers being charged as much as $27/MMBtu last February, far in excess of the pipeline's allowed transportation rate of 38 cents/MMBtu (RP97-288-009).
ALJ Jacob Leventhal had only one fault to find, and that was with Transwestern's method of posting capacity. The judge said, and Transwestern agreed, to modify its tariff "so that all posting, bidding and award procedures are set forth in a separate provision with an appropriate caption" on its Internet bulletin board. Shippers had said that reviewing capacity on the Transwestern web site was "a tortuous process."
Indicated Shippers claimed Transwestern's inadequate capacity posting and award procedures did not provide all interested parties with an opportunity to bid for the capacity that was available.
While "both Indicated Shippers and (FERC) Staff find it curious that SET (Sempra Energy Trading) and Richardson (Products Co.) were the sole bidders on the contracts awarded to each of them...curiosity does not translate into proof," the judge said. Witnesses in the expedited hearing testified no bids were considered in advance of the capacity posting (see Daily GPI, Aug. 30). The judge subsequently found the capacity was awarded in a manner consistent with Transwestern's tariff.
Similarly, Levanthal could find no evidence that Transwestern exercised market power in negotiating the rates with shippers or withholding or threatening to withhold capacity. The capacity was available at recourse rates, and the shippers knew those rates were available. "Staff's arguments really are criticisms of the posting and award procedures, but do not demonstrate the exercise of market power."
The two shippers said they made a business decision to propose the "index-to-index" formula that produced the higher rates, rather than take the recourse rate "to minimize any risk on transportation options." The index-to-index formula refers to taking the difference between the daily published commodity prices at two different points and subtracting to get the transportation rate between them. In this case the two points were the San Juan Basin and the SoCal Needles delivery point.
The case was set for expedited hearing last summer by the commissioners acting on staff recommendations (see Daily GPI, July 26).