Energy giants join wind bandwagon
National Post, 04/14/01

The Hindu-Editorial: Time for negotiations
The Hindu, 04/14/01

Dizzying offers create deregulation muddle
Houston Chronicle, 04/14/01

Enron controversy to dampen investor confidence in India: envoy
Agence France-Presse, 04/14/01

Pacific Gas & Electric owes us $570 million, Enron says
Deseret News, 04/14/01

Financial Post: News
Energy giants join wind bandwagon
Diane Francis
Financial Post

04/14/2001
National Post
National
D03
(c) National Post 2001. All Rights Reserved.

Times are grim for farmers, caught between sagging prices, subsidies and
livestock diseases.
But the energy crunch may provide North America's farmers with another,
lucrative line of work. Wind power has suddenly become viable and massive new
projects have been announced both on and offshore.
In January, the Bonneville Power Administration (a hydro-electric utility
operating in the Pacific Northwest) said it will buy 1,000 megawatts of wind
energy by 2003. That's enough to supply a city of 500,000 people.
Just before that announcement, another utility, FPL (Florida Power & Light)
Energy, announced plans to build the largest "wind farm" in the world with
turbines in Oregon and Washington, enough for 70,000 homes. Last year,
Texas-based Enron Corp., an energy conglomerate, had just finished 700
turbines in California, western Texas, Minnesota and Iowa.
A handful of Canadian entities have announced small-scale projects within the
past few months.
What has changed is that wind power can be generated economically without
subsidies, thanks to high fuel prices.
What has also changed is that the wind power technology has improved
dramatically. Equipment is less noisy and more attractive. Turbines have gone
up 20-fold in price, but can produce 120 times more power than a generation
ago.
Another concern was that the fast-moving blades of wind turbines were killing
birds. But newer designs are slower in speed and therefore less lethal.
North America is way behind Europe in alternative energy, mostly because it
is blessed with cheap, plentiful hydrocarbon sources. Only 1.5% of
environmentally activist California's power needs are generated from wind
turbines while Denmark and Germany depend on windpower for 6% of their
supplies. Washington would like 5% of U.S. electricity generated from wind by
2020.
But it already makes sense. Fuel costs are so high the wind business is even
profitable for small, independent farmers and landowners in breezy parts
(read prairies) of the United States and Canada. By harnessing the wind, they
can enhance their cash flow, keep their own lights burning brightly and look
after the neighbours or the local power grid, too.
Most significantly, in February, the world's biggest oil giant -- Royal Dutch
Shell Group -- waded in with an announcement it will construct a wind
mega-project or two. But Shell is going to create wind farms offshore, away
from urban development and political objections.
"Wind energy is set to be the major new offshore industry of the next
generation," Shell said in February.
"We believe that by deploying Shell's world-class commercial, technical and
financial capabilities to large and challenging projects we are confident
that we can become a major player in the global wind energy sector," David
Jones, executive vice-president of Shell's wind energy business, said at a
conference.
"Wind is the most competitive of the renewable energy sources when comparing
costs with conventional fuels," said Mr. Jones. "Wind energy production is
expected to increase rapidly as it moves offshore to achieve wind farms of
greater scale."
The company is evaluating offshore sites in North America and Europe and is
also involved in turbine manufacture. It operates small pilot projects in
Europe capable of meeting the needs of only a few thousand consumers.
Sir Mark Moody-Stuart, Shell's chairman, underscored the shift in energy
sources from hydrocarbons to wind, biomass and other renewables. He
maintained this is merely the continuation of a steady trend based on
consumer demands.
"The energy industry evolves giving products the customers want. In the last
century, there was mostly coal used, with few liquids, then liquids replaced
coal, then gas came along after World War II. History shows there has been a
steady de-carbonization of fuel from wood to coal to oil and gas," he said in
a panel I attended in February at the World Economic Forum in Davos,
Switzerland.
The world "must take the climactic threat seriously" by using hydrocarbons
more efficiently.
"We think we can make money at the moment out of wind, some out of biomass,
but not photovoltaics [batteries]," he added. "We want to meet the
aspirations and needs of our customers and society. It's both a commercial
challenge and a commercial imperative. We're just starting [wind power]
offshore, where people cannot object."
As for biomass, Shell has also been amassing forested acreage around the
world which will eventually be the feedstock for fuel production from plant
life.
"Wind indeed is ready for prime time," Ralph Cavanagh, energy program
director for the Natural Resources Defense Council, an environmental group
based in New York, said recently.
Another environmentalist, Worldwatch Institute's Seth Dunn, pointed in an
interview to a study by Shell showing that "by 2050, over 50% of primary
energy supply comes from renewables."

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

The Hindu-Editorial: Time for negotiations

04/14/2001
The Hindu
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

THE CYCLE OF claims and counter-claims between the Maharashtra State
Electricity Board (MSEB) and the Dabhol Power Company (DPC) has reached a
point where the only way the imbroglio can be resolved is by renegotiations.
The process of both parties slapping claims on each other helps neither even
as it leaves unaddressed the basic problems in the project. The conciliation
and arbitration process that has begun is also unlikely to provide any
answers to the larger questions because it is about a specific issue - the
decision of the Central Government not to honour a counter-guarantee on a
demand of Rs. 102 crores by the DPC because the MSEB's own claim of Rs. 400
crores has not been settled - rather than about the deep flaws in the power
purchase agreement itself. With the Godbole Committee calling for
renegotiation to bring down the cost of Dabhol power, the Government of
Maharashtra will now have to shed its ambivalence about where it stands on
the project.
While DPC has always been aggressive in asserting its rights, it cannot but
be aware that it will be impossible for it to do business in the face of
hostile public opinion and the increasingly ambivalent attitudes of the State
and Central Governments as well. Given that in the U.S. the Enron Corporation
itself has begun to exit from the energy production business and focus on the
more profitable activity of energy trading this should be an additional
factor working in favour of a renegotiated contract. But the question is how
much such renegotiations will yield, for the fundamental problems of the
Dabhol project were and still are about a very high capital cost,
dollar-denominated tariffs and a contract for supply of liquefied natural gas
(LNG) which will (after the implementation of the second phase) make DPC
power all the more expensive if the plant were to operate at less than 80 per
cent capacity. The Godbole Committee has not recommended scrapping the larger
and more expensive Phase-II of the project and more disappointing for the
State Government is that it has refused to bear the responsibility of
renegotiations. It could not have been otherwise for a review committee can
only provide the broad contours of a solution. When new negotiations begin
with the DPC, as they now must lest the State and Central Government opt for
the more dangerous course of arbitration, the MSEB and the Government of
Maharashtra have to walk a tightrope. If the DPC were to be pushed too far it
could choose arbitration and an arbitration panel based in London is more
than likely to rule on the basis of narrow commercial considerations than on
grounds of public policy, which is what the controversies in the Enron power
project have all been about. On the other hand, renegotiations with a velvet
glove are unlikely to do more than tinker with the contract.
Fortunately for the State and the Centre, worries about what the global
investing community will feel about India exerting pressure on the DPC to
modify the contract are now acknowledged as being mistaken. Globally, the
flaws in the PPA have become so well-known that a Government that does not
re-open the agreement is less likely to command respect than one that drives
a new bargain in a transparent manner. In the process of looking afresh at
the Enron project it does not help if issues such as the poor finances of the
MSEB and the subsidies that it provides are brought into the picture. These
are issues that do need to be addressed but they are distinct from the
problems caused by expensive DPC power. Even if the failings of the MSEB are
dealt with it would not lighten the burden that the DPC now imposes on the
two Governments, the economy of Maharashtra and eventually on the national
economy as well.

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

A
Dizzying offers create deregulation muddle
MIRIAM MOYNIHAN
Staff

04/14/2001
Houston Chronicle
3 STAR
1
(Copyright 2001)

One company is trying to lure Houstonians away from Reliant Energy HL&P with
free electricity for the next two Decembers.
Another competitor offers a $25 credit to sign up.
A third company doesn't offer any particular incentive.
So far, four retail ventures - The New Power Co., First Choice Power, Green
Mountain Energy Co. and Shell Energy Co. - are offering lower rates for
customers of HL&P. But a consumer can get lost trying to pick the best one.
A close look suggests that the company with the plainest offer may be the
best deal for consumers fearing all the unknowns. But it depends.
Welcome to electric deregulation.
Texans are getting their first taste of how competition will be when the
deregulation law goes fully into effect on Jan. 1. So far, the results of the
pilot program show it needs work. Price information is hard to come by, the
promotions can be confusing and the potential savings may not add up to much.
With the sign-up period under way for the Texas Electric Choice pilot
program, for the first time Houston consumers can choose from which company
they'll buy electricity. It's important that new competitors win over lots of
customers, because in the future, electric rates in Texas will be based on
competition rather than regulation.
In the newspaper, on television and on the Internet, ads are urging consumers
to sign up by phone or online and trim painfully high electric bills.
The simplest way to break down the cost is by looking at the average cost per
thousand kilowatt-hours. A bit of multiplication shows that at Reliant's
average current rate - 10.13 cents per kwh - 2,000 kilowatt hours would cost
$202.60. So Shell's rate of 9.3 cents would save a consumer nearly $15 a
month.
But shoppers looking to dump Reliant must wrestle with a lot of unknowns. The
actual savings will be affected by future rate changes, monthly fees and
special offers by the providers.
And getting the details to answer those questions can be difficult, said
Janee Briesemeister, senior policy analyst at the Austin office of Consumers
Union.
"They're being very vague in what they can promise," she said.
There is a lot of information out there if you have a telephone, an Internet
connection and a few hours to kill.
But keep your calculator handy. A representative of Shell Energy wasn't able
to do the math when asked how much 2,367 kilowatt-hours would cost during
August.
Also, be wary of promises that sound too good to be true.
A telephone representative from New Power gave a series of rates radically
lower than the other companies, but the fuel charge - a considerable part of
the cost - wasn't included in the price. When asked if that had been
included, the representative didn't seem to know what it was.
Business customers in Houston have signed up in droves for the nonresidential
portion of the pilot program.
But so far, this test of deregulation hasn't been a big hit with Houston
consumers. Retail electricity providers have drawn 25,625 residential
customers away from HL&P, according to the latest figures from the Texas
Public Utility Commission. That's about 42 percent of the goal officials are
seeking for the pilot.
Much as competing long-distance phone providers sell their services using
lines that are already there, beginning June 1, retail electricity companies
will run power through HL&P's existing lines and pay a fee to the
investor-owned utility.
Since the new providers don't have the cost of maintaining poles, wires and
other facilities, they can offer lower prices per kilowatt- hour - the
industry benchmark meaning the amount of energy needed to light a 100-watt
light bulb for 10 hours.
"We can purchase the electricity using our size and global strength on the
market at a much lower rate than the utility can charge," said Patricia Betz,
marketing manager for Shell Energy, an affiliate of Shell Oil Co.
But consumers need to understand that since it hasn't been done before in
Houston, it carries some risk.
"There's no guarantee that everything will work right," said Briesemeister.
"The companies need to do a better job of saying that."
"That's why it's called a pilot. And it serves an important function - to see
if everything works," she said.
Making apples-to-apples price comparisons is difficult.
The Public Utility Commission's Web site on the pilot program -
www.powertochoose.org - recommends that consumers check the Electricity Facts
Label of each program. But to find that item you need to go to the Terms and
Conditions section of each company's Web site.
In some cases, the prices posted there aren't the same as what's quoted by
company officials over the phone because the prices on the Web are adjusted
to include the added cost of the monthly fee.
But the most straightforward offering comes from Shell Energy.
It is quoting a flat rate of 9.3 cents per kilowatt-hour year- round. Its
monthly service charge is $2 or $5, depending on the method of payment. Shell
Energy doesn't require a contract and is also staying away from special
incentives.
"Electricity pricing is complicated," said Betz. "We're trying to make it as
simple as possible for consumers to understand."
But there's nothing simple about it.
"If they want to compare apples to apples, look at the Electricity Facts
Label, because they have to determine that in the exact same way," said
Carrie Collier, a legislative analyst at the Public Utility Commission. "We
can't tell them how to market their electricity, but . . . what we've told
them is that they have to provide standardized information for customers."
So, what exactly are they promising?
"We'll always be cheaper than the utility," said Betz of Shell.
She said the company does not foresee raising the rate during the pilot
program, but it's not a guarantee because rising fuel costs could mean higher
rates.
"We're all subject to the same market forces," Betz said, "so it's possible
your rates will go up."
First Choice Power, an affiliate of Texas-New Mexico Power Co., is offering a
rate of 9.4 cents per kilowatt-hour, with a $4.95 monthly service charge.
"The offer is good for the life of the pilot," said Jim Niewald, First
Choice's director of marketing. But he doesn't know how prices will be
affected after that.
His company requires a contract and gives a $25 credit on the first bill. It
also plans contests to give away plane tickets, cash and T-shirts.
Green Mountain Energy Co.'s rate is a bit higher - 9.8 cents per
kilowatt-hour plus $4.95 a month - but the company is touting wind- powered
energy.
"We're the only clean-power option in Houston," said Gillan Taddune, vice
president of Texas region. "And I think that's definitely a benefit."
The New Power Co. - a marketing joint venture of Enron Corp., AOL and IBM -
has two plans. One is a fixed rate of 9.3 cents per kilowatt-hour.
That company is offering free Decembers for two years but has a $30
cancellation fee if a customer chooses to switch before the contract ends.
But that rate, confirmed by the company's Web site, was far different from
the one quoted by phone recently.
A New Power customer service representative quoted a price of 4.5 cents for
up to 250 kwh from May through October, and 7.1 cents after that. And for
November through April, the price quoted was 4.2 cents.
The real rate is higher because the representative hadn't included the fuel
charge of 3.9 cents per kilowatt-hour that is added on.
One reason consumers should consider their options is that the rates from
Reliant will be going up again soon. The utility company - whose rate now
starts at 9.75 cents per kilowatt-hour - is in the process of getting a rate
increase to cover higher fuel costs approved by the PUC.
"We're hoping to have interim rates in place by the end of April," said
Reliant spokeswoman Leticia Lowe.
The PUC has the power to review whether this fuel price adjustment is
justified, though these requests usually go through with little change.
Reliant's deregulated competitors do not have their rates reviewed by state
regulators.
But starting Jan. 1, when the deregulation law takes effect, Reliant will be
able to drop its base rate by 6 percent.
"In the pilot, consumers are comparing current rates," said Briesemeister.
But down the line, the utility will get more competitive, she said.
While up to 5 percent of residences currently served by Reliant can sign up,
industry experts are unsure if that many will actually participate.
"Residential customers traditionally are slower to enter the market," said
Collier. "The dollar incentive is greater if your bills are higher. For that
reason, the industrial customer has more incentive to switch."
Janet Tuttle of Katy has taken the leap and signed with Shell. She heard
about the pilot program on the evening news.
"I've got two in college," she said, "so I'm trying to cut the costs wherever
I can."
...
Retail electricity rates
Four companies are currently offering competing electricity service to
customers of Reliant Energy HL&P. Prices listed here are quoted by the
companies based on usage of 1,000 kilowatt-hours. For a more detailed
breakdown, see www.puc.state.tx.us/electric/ projects/22834/reliant.pdf.
Also, check New PowerOs Web site for its alternate plan.
Company .. Monthly charge .. Rate per kilowatt-hour .. Incentives .. Penalty
for early cancelation
The New Power Co. / www.newpower.com / 877-901-7059 .. $3 .. 9.3 cents .. Two
free Decembers .. $30
Shell Energy / www.shellenergy.com / 800-24-SHELL .. $2 or $5 .. 9.3 cents ..
None .. None
First Choice Power / www.firstchoicepower.com / 866-469-2464 .. $4.95 .. 9.4
cents .. $25 credit .. Forfeit credit
Green Mountain Energy Co. / www.greenmountain.com / 866-473-3689 .. $4.95 ..
9.8 cents .. Power Perks discount card .. None

Graph: Retail electricity rates (p. 14, TEXT)

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

Enron controversy to dampen investor confidence in India: envoy

04/14/2001
Agence France-Presse
(Copyright 2001)

NEW DELHI, April 14 (AFP) - A controversy over US energy giant Enron's
subsidiary in India will dampen investor confidence and have a negative
impact on foreign investment, Washington's outgoing ambassador said Saturday.
In an interview published in the Economic Times, Richard Celeste said the
treatment of the subsidiary, Dabhol Power Corporation (DPC), "will have a
substantial (negative) impact on large investors."
The DPC, the single largest foreign investment project in India, has been
mired in controversy since its inception.
The deal was signed in 1993, but was scrapped in 1995 by the state's newly
installed Hindu nationalist government.
The project was renegotiated the same year and work began for the first phase
of the project, which began generating 714 megawatts of electricity in 1999.
Construction for phase 2 is ongoing, but opposition to the project has
resurfaced over the cost of electricity, with the Maharashtra state chief
minister Vilasrao Deshmukh saying that the government was being billed almost
8.00 rupees (18 US cents) per kilowatt hour for the electricity produced by
Enron.
Earlier this year, the cash-strapped Maharashtra electricity board said it
could no longer meet payments due to DPC.
This led to the DPC invoking a counter guarantee clause in the agreement,
after which part of its dues were recovered.
With a susbtantial portion of its dues still unrecovered, the DPC this week,
invoked a "force majeure" notice.
The notice warned that it maybe be unable for the company to perform its
contractual obligations, due to the "concerted, deliberate and politically
motivated actions" of the state and federal government as well as the
Maharashtra electricity board.
Urging the government to create an adequate environment for investors,
Celeste warned: "The (DPC) problem will have a large impact on India's
ability to raise large amounts of capital."
er/am

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

Pacific Gas & Electric owes us $570 million, Enron says

04/14/2001
Deseret News
B08
Copyright (c) 2001 Deseret News Publishing Co.

HOUSTON (AP) -- Enron Corp. says the utility Pacific Gas & Electric Co. owes
the energy company $570 million, according to a letter to the utility's
bankruptcy trustee.
Mark Palmer, an Enron spokesman in Houston, said the company has taken
adequate reserves to protect its balance sheet against any outstanding debts
owed it by Pacific Gas & Electric.
But Enron's disclosure was the first indication of how much the West Coast
utility owes the Houston company.
Enron was one of the companies named late Wednesday to the creditors'
committee for San Francisco-based Pacific Gas & Electric's Chapter 11
bankruptcy case. The committee represents the parties with the largest claims
in a bankruptcy case.
Enron officials cited the utility's unpaid debt to secure a seat on the
committee appointed by U.S. Trustee Linda Stanley, a Justice Department
official.
A week ago, Pacific Gas & Electric filed for bankruptcy protection because
negotiations with California over how to resolve the state's power crisis
were going nowhere. Pacific Gas & Electric sells electricity and natural gas
to the San Francisco and Northern California areas.
Earlier this week, a federal judge ordered Enron to keep supplying low-cost
power to California's state university systems after Enron tried to shift
responsibility for buying the school's power to the state's troubled
utilities.

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


--------- Inline attachment follows ---------

From:  </O=ENRON/OU=NA/CN=RECIPIENTS/CN=JPARKS>
To: Alfred C. Koenig <akoenig@hhw-law.com>, erwollam@hotmail.com, knipe3@aol.com, chet_fenner@bmc.com, shudgins@hhw-law.com, brianc@saltgrass.com
Date: Thursday, April 11, 2002 8:01:52 GMT
Subject:

BTW
New Number
832-851-2821

-----Original Message-----
From: Alfred C. Koenig [mailto:akoenig@hhw-law.com]
Sent: Thursday, April 11, 2002 2:49 PM
To: erwollam@hotmail.com; knipe3@aol.com; chet_fenner@bmc.com; shudgins@hhw-law.com; Parks, Joe; brianc@saltgrass.com
Subject: Troutmaster say...

?time for fishing!

Check Most Honorable Surf Cam at:

<http://www.galvestonsurfcam.com/>

Most Honorable Summer Surf Fishing Season begins this Saturday.

AHHHH SO!!!

Alfred C. Koenig

akoenig@hhw-law.com

Hudgins, Hudgins & Warrick, P.C.

24 Greenway Plaza, Suite 1707

Houston, Texas 77046

(713) 623-2550 - Phone

(713) 623-2793 - Fax

************************************************************************
This e-mail is the property of Bridgeline Holdings, L.P. and/or its relevant affiliate(s) 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 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 Bridgeline Holdings, L.P. (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.
************************************************************************


I have jury duty scheduled for June 23 at 8:00 am.


We are pleased to announce that Sally Beck has been named Chief Operating Officer for Enron Net Works.  She will join Greg Piper, President and Chief Executive Officer and Mark Pickering, Chief Technology Officer in the Enron Net Works Office of the Chair.

In her current role as Managing Director for Enron Net Works, Sally heads up Enron's Global Risk Management Operations.

Ms. Beck brings more than 20 years professional experience to Enron, joining the Company in 1992.  She graduated from the University of Texas at Austin with a B.B.A. in Marketing and an MBA with a concentration in Finance.

Please join us in congratulating Sally on her new role.


Mark,

Please find Desert Sky data as requested from Jeff Duff in your transfer
directory.  There is a "readme" file for explanation.  Call me with questions,

Regards,

Scott Larwood
661-333-9416


Here is the memo on gas curtailments.  We can get you the exact tariff
language if you want more, or even give you a link to the websites. Let me
know.  Mike

 <<X19035.DOC>>

 - X19035.DOC


I have two things biting me.

First is time.  I need to turn a draft for Hannon and Rice ASAP.  So,  the
value of a deliberative approach to coming up with a V@R policy will quickly
evaporate if we take 2 weeks to study what the policy should say.

Second,  I have a unique situation.  Our concept of V@R is really unlike the
rest of Enron's today.  What happens today is that network engineers
unilaterally make decisions about deployment, configuration and other matters
which effect the longs and shorts of our asset/contract portfolio that they
view strictly from a network operating standpoint.

A good example was a decision to move our primary TeraPop (three large
servers storing 165 gigabytes each) from Portland to LA.  The servers are
already in place and purchased,  so no capital was involved.  But the
decision has huge ramifications on the future LA/New York and other Bandwidth
usage, and that cost money.  Now it could be that the LA/New York cost is
cheaper than the Portland/New York cost,  the whole point is no one knows.
What our "value-at-risk" policy attempt to corral is these types of decisions
and put them into the hands of the risk management group,  where the decision
will be made with at least some economic work behind it.

I really see the EBS V@R policy to be misnamed,  since we don't really have
the math done to calc V@R.  It really is a volumetric-based control policy
that says you can't make network changes over XX amount of Megabytes (a
storage measure)  or OC-3 equivalents (a bandwidth measure) without Risk
Management making or approving the decision.  I do believe that with
Research's help,  we can in time actually calculate the V@R impact of such
decisions.  At that time,  the policy should be modified to set metrics based
on the V@R calculations.

So if you have an open enough mind to let us co-op your word for a minute,
we need to start turning the minds of the network industry people into
thinking about their decisions as having value effects.  Said directly,
Kevin Hannon has given me authority to write a policy to move control over
significant network changes from the field to the trading floor,  and I am
going to issue something NOW to effectuate that......

So... I really want your views on what we are doing,  but thought you needed
some flavor and an sense of the urgency.  If you can weigh in,  do so
quickly.....

	Barry Pearce
	06/30/00 04:47 AM

		 To: John Echols/Enron Communications@Enron Communications, Lou Casari/Enron
Communications@Enron Communications
		 cc:
		 Subject: Re: EBS VaR Transaction Policy

Positive....
----- Forwarded by Barry Pearce/Enron Communications on 06/30/00 04:49 AM
-----

	Ted Murphy@ECT
	06/29/00 11:33 AM

		 To: Barry Pearce/Enron Communications@ENRON COMMUNICATIONS@ENRON
		 cc:
		 Subject: Re: EBS VaR Transaction Policy

Barry,
Conceptually, I see no reason that a process like this can not be
implemented.  In some way we have attempted to do so through the Enron Corp
Transaction Approval Process (TAP).  I have forwarded to John a copy of this,
along with the Risk Management Policy.   I'll let him share with you if ok (I
really don't want to act as the firm's in-house Kinko's!!).   We have taken
the first step and done poorly on follow-up steps to create a very easy to
follow process for anything other than direct funded capital.  However, some
process around a greater number of assets/deals is better than none.   I
agree that I have not seen a really good fully baked one implemented, but I
think it is wrong not to try.

The only concerns I have is that, given that we want to have "standard"
metrics and approval processes around the firm, EBS creates a process/metric
which is complementary to and integrates with processes/metrics that the
other Business Units are subjected to .
Ted

	Barry Pearce @ ENRON COMMUNICATIONS
	06/29/2000 09:09 AM

To: Stinson Gibner/HOU/ECT@ECT, Dale Surbey/LON/ECT@ECT, Ted
Murphy/HOU/ECT@ECT
cc: Lou Casari/Enron Communications@Enron Communications, John Echols/Enron
Communications@Enron Communications, Jim Fallon/Enron Communications@Enron
Communications
Subject: EBS VaR Transaction Policy

Hey you guys,

We are trying to implement a 'VaR transaction' policy - and would like your
opinion.

This is going to be tough - because I'm not sure we have implemented a
similiar policy across any of our other 'books' - that is - we looking to
bring in all the accrual/operational assets as well as the MTM stuff
(lambdas). To have a real-live 'configuration' of the system.

If assets/routes/servers etc...are added - what is the impact on the 'value'
of the system and what it's worth.

John has attached a draft below - for your review and thoughts.

I can see how this works in a trading environment - when you actually know
the VaR of your whole trading portfolio. However - I've not seen this done
with a mixture of MTM & accrual assets. Add the spice of a 'operational
system' valuation  - and this will be tough to quantify and model.

Step 1 - configure system and value it
Step 2 - calculate a VaR on this. We will need to do some work here!
Step 3 - calculate the incremental VaR of new deals/amendements/reconfigs etc
- tough....

See what you think?

B.

	John Echols
	06/28/00 05:41 PM

		 To: Jim Fallon/Enron Communications@Enron Communications, Barry Pearce/Enron
Communications@Enron Communications, Lou Casari/Enron Communications@Enron
Communications
		 cc:
		 Subject: Policies

Here is a first rough draft of a "value @ risk" transaction policy.

I would like you to start looking at where we are going on the policy and get
some early thinking going on limits for the V@R.  For example, should we
effectively shut down all server relocations without approval,  or allow some
level of MB of storage to be moved around or reconfigured?

I need some commercial and industry realism for this.  We may need Rick
Paiste or your industry helpers (Marquardt, etc. to help us).

Barry,  Lou,  I need your input.


thanks

-----Original Message-----
From: Finelli, Christina
Sent: Monday, June 24, 2002 5:03 PM
To: Barbe, Robin
Cc: Schneider, Chip; McMichael Jr., Ed; Germany, Chris; Concannon, Ruth;
Darmitzel, Paul
Subject: RE: GISB Base Contract - Occidental Energy Marketing, Inc.

Hi Robin,

I will check with Carol Wilson.  I emailed her Friday and she told me she was getting it executed.  I will email her again and get back to you.

Christy

-----Original Message-----
From: Barbe, Robin
Sent: Monday, June 24, 2002 4:40 PM
To: Finelli, Christina
Cc: Schneider, Chip; McMichael Jr., Ed; Germany, Chris; Concannon, Ruth;
Darmitzel, Paul
Subject: RE: GISB Base Contract - Occidental Energy Marketing, Inc.

christy,

what is the status of the contract?  the possibly still exists that we may need to transact with oxy.

thanks
robin

-----Original Message-----
From: Finelli, Christina
Sent: Wednesday, June 19, 2002 10:02 AM
To: Barbe, Robin
Cc: Schneider, Chip; McMichael Jr., Ed; Germany, Chris; Concannon, Ruth;
Darmitzel, Paul
Subject: RE: GISB Base Contract - Occidental Energy Marketing, Inc.

Thanks Robin for the info.  We will get the GISB finalized so you can use it whenever you do need it.

Christy

-----Original Message-----
From: Barbe, Robin
Sent: Wednesday, June 19, 2002 9:51 AM
To: Finelli, Christina
Cc: Schneider, Chip; McMichael Jr., Ed; Germany, Chris; Concannon, Ruth
Subject: RE: GISB Base Contract - Occidental Energy Marketing, Inc.

christy,

i spoke with chip this morning.  he said it was highly unlikely that anything would happen this week.  i still want to follow through with the contract so we will be ready to transact if necessary.  the sense of urgency has changed.

thank you for your help!

robin

-----Original Message-----
From: Finelli, Christina
Sent: Wednesday, June 19, 2002 9:17 AM
To: Barbe, Robin
Cc: Darmitzel, Paul
Subject: RE: GISB Base Contract - Occidental Energy Marketing, Inc.

Robin,

Just to let you know, we rehashed the GISB yesterday and sent our final comments to Occidental yesterday afternoon.  We have not heard back yet.  We needed to make sure we had provided for the fact you do not record, you want them to prepay, no netting,setoff, etc.  I also advised that ENA wanted to be the confirming party.  Hopefully we will hear from them soon as I am sure they want to start the ball rolling as soon as possible.

Will you need my help with confirmations?  I am glad to help you unless you have other sources, but we especially now need to have the written confirmations done, with the appropriate bankruptcy language.

Thanks again for your help.

Christy

-----Original Message-----
From: Barbe, Robin
Sent: Monday, June 17, 2002 2:54 PM
To: Finelli, Christina; Darmitzel, Paul
Cc: McMichael Jr., Ed; Schneider, Chip; Concannon, Ruth; Germany, Chris
Subject: RE: GISB Base Contract - Occidental Energy Marketing, Inc.

fyi,

very few phone lines are recorded post petition.  my phone line is not.  we can send out a written confirm.

robin

-----Original Message-----
From: Finelli, Christina
Sent: Monday, June 17, 2002 11:53 AM
To: Barbe, Robin
Cc: Darmitzel, Paul
Subject: RE: GISB Base Contract - Occidental Energy Marketing, Inc.

Robin,

I have reviewed the GISB sent by Occi.  The GISB between Occi and EES does NOT contain the special provisions contained in the within GISB.  I can tell them we want the wording exactly the same, but we are dealing with different types of deals.

The main reason EES was able to negotiate them out, was EES did not record.  EES prefers to have a written confirmation, does Wholesale?

Paul, since Wholesale records, I would think that the second special provision would apply, and the first one certainly could or could not, depending upon whether this is the practice of Wholesale.  If this is merely Occidental's practice, then I will propose wording to change the reading to reflect that we do WANT all confirmations of less than one month to be confirmed.

The third special provision, can go either way, your call?

The fourth provision, seems fine, again your call?

Normally the pre-payment (by Occy) does not go in the actual GISB agreement.  I would like to have Carol Wilson insert our bankruptcy language right before the signatures on page one.

Also, I would suggest under confirming party on page one, that it read:  Enron Wholesale, unless you do not prefer to confirm, but I am pretty sure you do.

Let me know later.

Christy

-----Original Message-----
From: Barbe, Robin
Sent: Friday, June 14, 2002 1:43 PM
To: Finelli, Christina
Subject: FW: GISB Base Contract - Occidental Energy Marketing, Inc.

here's the gisb.  thanks for your help.

robin
37177

-----Original Message-----
From: Carol_Wilson@oxy.com [mailto:Carol_Wilson@oxy.com]
Sent: Thursday, June 13, 2002 3:24 PM
To: Barbe, Robin
Subject: GISB Base Contract - Occidental Energy Marketing, Inc.

Robin,

How are you doing?  It has been a few years since we've seen each other.
John Fitzpatrick asked that I send to you the GISB contract for your review.
If you will complete the information on the right-hand side of the first
page and email back to me I will prepare originals for execution.

Let me know if you have any questions.

Sincerely,

 <<GISB-new.DOC>>

Carol Wilson
Occidental Energy Marketing, Inc.
Tel. # 713-215-7182
Fax # 713-215-7486
carol_wilson@oxy.com


i know who that is.  wasn't she a cheerleader?  how have you been?  i haven't
heard from you in a while.  i will try to meet up with you guys tonight.
call me at my house and let me know what time you guys are heading over.


Fine with me.  I will have to leave at 6 pm Houston.  Brent Hendry (X37124)
will be available tomorrow if any issues arise.  Of course, Tana will be here
as well.  SS

	Greg Johnston
	09/28/2000 09:39 AM

		 To: Brian Kerrigan/HOU/ECT@ECT, Soma Ghosh/HOU/ECT@ECT, Peter
Keohane/CAL/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Alberta Prepay

With so much paper distributed last night, is it prudent to have a call
whenever possible this morning with the three banks and all of the internal
people on the line to sign off on the documentation and develop a plan for
obtaining execution of all the paper?  I would think we need to have
everything signed today in order to initiate the wire transfers tomorrow,
which means we are basically out of time on negotiating the paper.

Let me know what you think.

Greg


Start Date: 4/23/01; HourAhead hour: 3;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042303.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 3 / Preferred:  50.02 / Final:  49.99)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/23/01
  SC_ID: EPMI


Daren-
Have you had a chance to change the pricing in the system?
Duke has called me several times they want to get our March deals finalized.
I am not sure what I should tell them.
Thanks-

---------------------- Forwarded by Katherine Herrera/Corp/Enron on
06/12/2000 01:24 PM ---------------------------

Katherine Herrera
04/20/2000 08:31 AM
To: Daren J Farmer/HOU/ECT@ECT
cc:

Subject: PanEnergy Marketing March 2000 Production

Deal # 157288
Per our conversation yesterday afternoon, pls. separate the Centena term deal
from the spot deal in Sitara for March 2000 production.
Also, I need to have the price for the East Texas redelivery changed in
Sitara from HS Index $-.085 to HS Index $-.0825.  This is per the contract
the price for this redelivery point.

Thanks
Katherine
5-8643


Sara:

I will forward the documents to you.

For future reference, if anyone is looking for a file for an urgent matter while I am out, she should convey that fact to me by either (1) leaving a voice mail - as I checked my voicemails on Friday (that is how I was able to speak with Tom from New York on Friday) or (2) advise Keegan and she will contact me immediately by cell phone as she did regarding other matters on Friday.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693
http://gss.enron.com/

	Sara Shackleton@ECT 05/15/2001 03:45 PM 	   To: Cheryl Nelson/NA/Enron@Enron  cc: Tom Doukas/Enron@EnronXGate, Stephanie Panus/NA/Enron@Enron  Subject: Enron Corp./Enron Credit Inc. ("ECI") guaranty amendment (increase from USD25 Million to USD100 Million) in favor of Bear, Stearns, et al

Cheryl:

I spoke with Clem and he is preparing the amendment for immediate execution as the signers will be at an offsite tomorrow.  I'll let Tom know as soon as the amendment has been executed.  Anna Meytina is on vacation so I left a message with Sharon Chernick.

In order to complete our files with respect to the Enron North America Inc. ("ENA") Securities Loan Agreement, please provide me with copies of the following documents:

(1)  assignment of the Securities Loan Agreement from ENA to ECI (or was a separate agreement with ECI executed?)

(2) termination of the prior Enron Corp. guaranty on behalf of ENA in the amount of  USD25 Million

I spoke with Stephanie and she could not locate your Bear/ECI files on Friday of last week.

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


I tried logging in to corp, but it failed because it prompted for new
hardware - a 3COM card?  Should I get a phone number of one of the
technicians, so that I may call them from my house when I try to log in.

Also, the guys set up a hub for my desktop and laptop.  How do I have the
laptop share the printer (which is connected to my desktop)?  Do I use
Network Neighborhood?

Thanks,
Mike


---------------------- Forwarded by Mike McConnell/HOU/ECT on 07/31/2000
03:20 PM ---------------------------

Debi Vanwey
07/30/2000 08:51 PM
To: Mike McConnell/HOU/ECT@ECT, Cathy Phillips/HOU/ECT@ECT, Philippe A
Bibi/HOU/ECT@ECT, Peggy McCurley/HOU/ECT@ECT, Jenny Rub/GPGFIN/Enron@Enron,
Marlin Gubser/HOU/ECT@ECT, Bob McAuliffe/NA/Enron@ENRON, Keith
Dziadek/NA/Enron@Enron, LaMetrice Dopson/NA/Enron@Enron, Beth
Perlman/HOU/ECT@ECT, Stephen Stock/HOU/ECT@ECT, John P Tollefsen/HOU/ECT@ECT,
Jeff Johnson/Corp/Enron@Enron, Richard Burchfield/HOU/ECT@ECT, Bryan
Powell/HOU/ECT@ECT, Chris Hanz/Corp/Enron@Enron, Louise Kitchen/HOU/ECT@ECT,
Jay Webb/HOU/ECT@ECT, John Pavetto/Corp/Enron@Enron, Allan
Sommer/Corp/Enron@Enron, Dan Bruce/HOU/ECT@ECT, Steve Hotte/Corp/Enron@ENRON,
Robert Jones/Corp/Enron@ENRON, Gary Buck/HOU/ECT@ECT, Kari
Oquinn/HOU/ECT@ECT, Ryan Seleznov/Corp/Enron@Enron, Neil
Davies/Corp/Enron@ENRON, Philip Conn/Corp/Enron@ENRON, Brad
McSherry/HOU/ECT@ECT, Mark Broadfoot/HOU/ECT@ECT, Candace Womack/HOU/ECT@ECT,
Jennifer Cronin/Corp/Enron@ENRON, Jennifer Richard/HOU/ECT@ECT, Becky
Quintana/Corp/Enron@ENRON, Amanda Curless/Corp/Enron@ENRON, Edward
Anderson/Corp/Enron@ENRON, Sheryl Beckman/HOU/ECT@ECT, Kathy
McKay/Corp/Enron@ENRON, Laura E Lara/HOU/ECT@ECT, Shellie
Gutman/NA/Enron@ENRON
cc:
Subject: Enron Net Works Staffing Report


The season will not start next week, since several teams have not sent in complete registration forms.
The earliest the season could begin is September 18th.

In the meantime, the Enron Blue team wants to scrimmage in preparation for the season.
They have 8 guys who have already committed to playing this Saturday.
Please let me know if you can play this Saturday (9-11 am).
I will try to reserve the field behind South Main Baptist Church (4100 Main, near Richmond).

For those of you who haven't paid yet, please do so ASAP.

Lastly, we currently have 16 guys registered, with 4 spaces left.
If you know of anyone who could play on a consistent basis, please let me know.


Dear Mr. Presto, Sorry I couldn't take your telephone call two weeks ago,
please call me next week so that we may discuss good buys on Lake McQueeney.
Jackie Muir  cell#(210) 861-4236 home#(830)560-3177 or office# (830)
557-5824.


(See attached file: HPLN1123.xls)

 - HPLN1123.xls


Taffy:
Sara and i need about thirty minutes with Mark.  Can you set something up for
either tomorrow or before our group meeting on Wednesday?  Today is bad for
me.  Thanks.
Carol


Former Enron Executives Launch Celeren Corp.

01/14/2002
Dow Jones News Service
(Copyright (c) 2002, Dow Jones & Company, Inc.)
PHILADELPHIA -(Dow Jones)- Several former Enron Corp. (ENE) executives launched Celeren Corp., a new company formed to provide risk management energy services through the sale of energy outsource products and independent power generation services.
In a press release Monday, Celeren said it will guarantee long-term fixed costs rather than the traditional saving guarantees offered by most energy service companies in the market. It will focus on small- to mid-sized businesses and institutions where it sees the most growth.
Thomas A. Brigger, formerly Mid-Atlantic regional manager for Enron Energy Services' energy outsource fulfillment operation, will serve as Celeren's president and chief executive.
Donald S. Parker, previously Mid-Atlantic regional director, asset risk management, for Enron Energy Services, will serve as Celeren's chief operating officer and on the company's board.
Brigger and Parker, along with other members of Celeren's executive team, left Enron in July to start Celeren.
"We created Celeren Corp. as a nimble energy company that will serve the unique risk management and energy utilization challenges faced by today's small-and mid-sized businesses by offering a valuable financial instrument," Brigger said in a statement.
Company Web site: http://www.celeren.com


Hi Jen,
    Though we share concerns / ideas that are forwarded, please take us off
your list.  We get lot and lots of forwarded stuff.  If you want to contact
us directly via e-mail re something that pertains to us, that's great.
Thanks, Colleen and Chris


Attached is a list of the contracts which I don't have copies.


Since Paul decided to take vacation today, we will, as I mentioned to you all on yesterday, celebrate on Monday morning, 9:00a.

adr

Audrey D. Robertson
Transwestern Pipeline Company
email address:  audrey.robertson@enron.com
(713) 853-5849
(713) 646-2551 Fax

 -----Original Message-----
From: 	Robertson, Audrey
Sent:	Thursday, February 28, 2002 2:18 PM
To:	Harris, Steven; Watson, Kimberly; Lindberg, Lorraine; Lohman, TK; Lokay, Michelle; McConnell, Mark; Centilli, James; Hyatt, Kevin; Wadle, Susan; Gadd, Eric; Armstrong, Julie; McCarty, Danny
Cc:	Robertson, Audrey
Subject:	Surprise Birthday for Paul Tomorrow!!!

Paul's birthday is on Saturday, March 2nd.  We will celebrate this great occasion with a surprise donut hour on tomorrow morning at 8:30a in our open area near me.

Please plan on eating a few donuts with Paul on tomorrow morning.

Remember, this is a surprise....  A card will be circulating this afternoon.

adr

Audrey D. Robertson
Transwestern Pipeline Company
email address:  audrey.robertson@enron.com
(713) 853-5849
(713) 646-2551 Fax


SBSC  WEEKLY UPDATE***
The Latest News and Activities from the  Small Business Survival Committee

October  2001

CONTENTS:

1.      SBSC President Testifies Before Congress on Best  Policies for Economy and Small Business
2.      SBSC Addresses  Media on Small Business and Economic Issues
3.      Free Trade for  Small Business, Trade Promotion Authority for the President
4.      SBSC and Other  Groups Urge Congress to Grant TPA to President Bush
5.      SBSC  Chairman  Maps Out Road to Recovery
6.      Capital Gains Tax Cut-Good for the Economy, Good  for the Stock Market
7.      MSAs and the  Uninsured
8.      SBSC Organizes  Allies to Oppose "One-Watt" Mandates in Senate Energy  Legislation
9.      Old-Time  Baseball

1.    SBSC  PRESIDENT TESTIFIES BEFORE CONGRESS ON BEST POLICIES FOR ECONOMY AND SMALL  BUSINESS

SBSC President Darrell McKigney testified  before the House Small Business Committee on October 10.  McKigney explained the important role  that small business plays in the economy, and laid out a pro-small business  policy agenda that featured speeding up and making permanent the tax cuts  passed earlier this year; cutting or eliminating the capital gains tax;  granting the President trade promotion authority; and enacting an energy plan  that frees up domestic energy producers.

To read the full testimony, go  to:

http://www.sbsc.org/CongressionalTestimony.asp?FormMode=CongressionalTestimony&ID=40

2.   SBSC  ADDRESSES MEDIA ON SMALL BUSINESS AND ECONOMIC  ISSUES

On October 11, SBSC Chairman Karen  Kerrigan, President Darrell McKigney, and Chief Economist Raymond J. Keating  discussed the state of small business and the economy in a tele-conference  call with reporters from Newsweek,  Business Week, Newsday, Human Events, CNSNews.com, Baltimore Sun, Arizona  Republic and the Orange County  Register.

2.    FREE  TRADE FOR SMALL BUSINESS, TRADE PROMOTION AUTHORITY FOR THE  PRESIDENT

SBSC chief economist Raymond J. Keating  wrote a new report--"International Trade: The Business of Small Business"-that  explains the importance of free and open trade for our economy and for the  small business community.  Keating  lays out a pro-free trade agenda, featuring passage of trade promotion  authority for the President.

SBSC's report "International Trade: The  Business of Small Business" can be downloaded from the front page at http://www.sbsc.org/under the "21st  Century Small Business Policy Series."

3.    SBSC  AND OTHER GROUPS URGE CONGRESS TO GRANT TPA TO PRESIDENT  BUSH

SBSC Chairman Karen Kerrigan signed an  October 9 letter to Congress urging passage of trade promotion authority (TPA)  for the President.  In part, the  letter said: "World trade is increasingly important to small business.   Nearly one-third of all U.S. merchandise export sales -- the stuff whose  labels read, "Made in America"-- are produced by companies with less than 500  people on their payrolls.  Two-thirds of the firms participating in the  export economy actually have less than 20 employees. What's more, the overall  value of small-business exports has increased by 300 percent since the  mid-1990s, according to the U.S. Small Business Administration.  Between  1987 and 1997, the number of U.S. small business exporters tripled from 65,900  to 202,185, according to the U.S. Department of Commerce.  That number  will grow substantially if President Bush were given Trade Promotion  Authority."

To read the full letter to Congress, go  to:

http://www.sbsc.org/LettersToCongress.asp?FormMode=LettersToCongress&ID=113

5.  SBSC CHAIRMAN MAPS OUT ROAD TO RECOVERY

In a recent article written for The Washington Times, SBSC Chairman  Karen Kerrigan spelled out the policies needed to put the economy and the  entrepreneurial sector of the U.S. economy back on a path of  growth.

To read the full Washington Times op-ed by Kerrigan, go  to:

http://www.sbsc.org/LatestNews_Action.asp?FormMode=SmallBusBriefs&ID=113

6. CAPITAL GAINS TAX CUT-GOOD FOR THE  ECONOMY, GOOD FOR THE STOCK MARKET

In his latest SBSC Cybercolumn, SBSC chief  economist Raymond J. Keating explains why cutting the capital gains tax is  good for both the economy and the stock market, and provides the historical  evidence to back up his claims.

To read the SBSC Cybercolumn, go  to:

http://www.sbsc.org/LatestNews_Action.asp?FormMode=CyberColumn&ID=178

7.  MSAs AND THE  UNINSURED

In the SBSC Fact of the Week, the latest  numbers show that tax-free medical savings accounts help to reduce the number  of uninsured individuals.

http://www.sbsc.org/FactOfWeek.asp?FormMode=Call&LinkType=Text&ID=162

8.  SBSC ORGANIZES ALLIES TO OPPOSE "ONE-WATT" MANDATES IN SENATE ENERGY  LEGISLATION

In an October 5 letter to Congress, SBSC  Chairman Karen Kerrigan and representatives from other groups wrote: "While it  is still uncertain whether the Senate will consider comprehensive energy  legislation, we are writing to alert you to our concern about a specific  provision that could undermine the current work of the Congress to bring  stability and growth to our nation's economy.  As this important  legislation is being debated, we urge you to proceed with caution in imposing  new burdens on businesses and consumers through mandates and regulations.   Specifically, we are asking that you reject the onerous "one-watt"  provisions similar to those slipped into the House Energy bill, H.R. 4.   If enacted, these one-watt restrictions will cost consumers money and  convenience, place undue burdens on businesses, while creating a new layer of  government bureaucracy."

To read the rest of this letter, go  to:

http://www.sbsc.org/LettersToCongress.asp?FormMode=LettersToCongress&ID=112

 9.  OLD-TIME  BASEBALL

In their latest "Carolan & Keating"  Newsday column, SBSC chief economist Raymond J. Keating and his partner, Matt  Carolan, appreciate that baseball has helped the nation get through disasters  and wars for more than a  century-and-a-half.

To read "Carolan & Keating," go  to:

http://www.newsday.com/news/opinion/columnists/ny-vpcar092404727oct09.column?coll=ny%2Dopinion%2Dcolumnists

--  PLEASE FEEL FREE TO FORWARD THIS MEMO TO FRIENDS  --

Small  Business Survival Committee

1920  L Street, NW Suite 200
Washington,  DC 20036
(202)  785-0238
www.sbsc.org
SBSC is a 501c(4) nonprofit, nonpartisan  small business advocacy organization.

TO BE REMOVED FROM THIS  EMAIL LIST, PLEASE HIT REPLY AND TYPE "REMOVE" IN THE SUBJECT  LINE.


Tanya:

I've been meaning to touch base with you about:

  In our form CSA, the Debt Rating Change is triggered ONLY off of S&P.  I
thought this was a carry-over from ENE's previous split rating.  Does credit
want to leave the trigger at "below BBB- by S&P" or also add in Moody's?

Thanks.  Sara


When: Friday, October 12, 2001 1:00 PM-2:00 PM (GMT-06:00) Central Time (US & Canada).

*~*~*~*~*~*~*~*~*~*


---------------------- Forwarded by Kate Symes/PDX/ECT on 04/10/2001 01:29 PM
---------------------------

	From:  Chris H Foster                           04/10/2001 07:52 AM

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

Subject: Deal #576468.1 & 572069.1 (4/6/2001 & 4/7/2001)

Kate:

Can you please modify that deal that you made the price $140 yesterday to
make it for the 6th only?  The 7th is all at $150.

Thanks

C
---------------------- Forwarded by Chris H Foster/HOU/ECT on 04/10/2001
09:58 AM ---------------------------

Audrey Cook
04/10/2001 07:51 AM
To: Chris H Foster/HOU/ECT@ECT
cc:
Subject: Deal #576468.1 & 572069.1 (4/6/2001 & 4/7/2001)

Chris,
Good morning!  Hey, one thing I probably did not clarify to you yesterday on
was that when the new deal ticket was set up for the $140 price strip (Deal
#576468.1), the deal should only be in for (4/6/2001) according to APX's
statement (not including 4/7/2001).  Therefore, the entire offpeak for your
deal would be booked on Deal #572069.1 for the $150 price for 4/7/2001.  Let
me know if you have any questions.  Thanks.
ajc

---------------------- Forwarded by Audrey Cook/HOU/ECT on 04/10/2001 09:44
AM ---------------------------

Audrey Cook
04/06/2001 01:27 PM
To: Chris H Foster/HOU/ECT@ECT
cc:
Subject: APX - 4/6/2001

Chris,
One more quick thing on 4/6/2001- APX is showing 2 different prices for
offpeak ($140 & $150 - different MW per strip).  EPMI is showing $150 @ 12/MW
per offpeak hours.  This difference amounts to a $144 difference (APX has
lower invoice).  Can you verify?  Everything else is fine....talk to you next
week.  Have a good weekend.
ajc


[IMAGE]
				[IMAGE]
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 and take advantage of  $49  to  $179  weekend  rates (Thurs-Sun) and savings of up to 40% on weekday rates (Mon-Wed)  from now until January 27, 2002.  Book at www.starwood.com   to take advantage of these and other special rates and earn 500 bonus  Starpoints with every online booking or call 1 877-782-0114 and mention  promotion code GOUSA. Please note, the promotion code is not required for online booking.  Visit starwood.com and book now.     Terms & Conditions  Offer is valid at participating hotels only. The St. Regis New York and St. Regis Club at the Essex House  in New York and Hawaii hotels do not participate in this  promotion. When reserving  by phone, call 1-877-782-0114, for weekend promotion you must request promotion code GO USA. Weekend rates are for  single or double occupancy per night and are available  Thursday-Sunday only with a Friday and/or Saturday night stay required from 10/5/01-1/27/02. Weekend reservations must be made between 10/5/01-1/27/02. A limited number of rooms may be available at these rates. Not to be combined with other offers. Weekday savings of up to 40% are based on comparisons of rates quoted for select dates and locations midweek (Mon-Wed) from 10/5/00-1/27/01. Percentages may vary by market. Rates are subject to availability based on occupancy. Blackout dates may apply at some properties. Advance reservations are required. All rates are quoted in U.S. Dollars. Rates are based on standard room type, and do not include taxes, gratuities, or additional charges. Additional temporary energy charge plus applicable tax per room/per night may apply. Offer is not available to groups. Children under 17 stay free in parent's room, using existing bedding. Certain restrictions apply. See Web site for details. Starwood Hotels & Resorts is  not responsible for typographical errors.    For Starwood Preferred Guest members: room upgrade to a  Preferred room based on availability at check-in. 4pm checkout is subject to availability at resorts.    ? 2001 Starwood Hotels & Resorts Worldwide, Inc.    If you would like to receive future e-mails in text-only format, click here .  You are subscribed as: jarnold@enron.com   If you would like your e-mail to be sent to a different address, please click here .  Click here  to review the Starwood Hotels & Resorts Worldwide, Inc. privacy policy statement.   You have received this email from Starwood Hotels & Resorts Worldwide, Inc. If you prefer not to receive future promotional mailings from Starwood Hotels & Resorts Worldwide, Inc., please  click here . It may take up to 10 business days to completely remove you from our e-mail list. There is a slight chance that you may receive  e-mail from us within that time.

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I am pleased to announce that effective July 1st the following individuals
have been promoted from Director to Senior Director.

Dan Allegretti - Dan has been a leader on both retail and wholesale
electricity issues in New England for the past several years with Enron,
resulting in Dan currently serving as Chair of the New England Power Pool
Participants Committee.  Dan, more importantly, has been very active, both in
the past and during the course of this year, in ensuring that transactional
opportunities in the New England region are fully exploited by both Enron
Wholesale Services and Enron Energy Services.  Dan's participation in the
United Illuminating deal has been mentioned many times, but Dan has also
played a critical role in working with Enron Energy Services this year in
helping to develop a national business plan for creating value through the
delivery of retail services in partnership with municipal and privately owned
utilities.

Robert Hemstock - Rob's participation in the development of Alberta's
competitive electricity market and the ensuing PPA project, that has produced
considerable value for Enron and Enron Canada has been quite notable.  Rob
has been a leader, not only with policy makers, but also with his commercial
counterparts in ensuring that the PPA transaction was brought to fruition
last year.  Rob has also played a critical role in preserving the value
embedded in that deal throughout the course of this year.  Rob's knowledge of
both wholesale and retail issues in both the natural gas and electricity
industries in Western Canada is unparalleled.

Sue Mara - Sue is a warrior.  Sue has fought endlessly and courageously
during her years with Enron in trying to ensure, against all odds, that
retail and wholesale electricity markets work as effectively as possible in
California while also protecting Enron's interests in that very challenging
state.  Sue is a passionate believer in the efficacy of markets, and fights
tirelessly for both the issues as well as the well-being of the company in
California.

Please join me in congratulating each of these individuals on their
significant accomplishments.


I'll pay you Friday night.  I think we're going to dinner together.  Let me
know if you need it earlier.

To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Trip

How's everything going?

Next time you get a chance, I need you to send me $200 to cover the deposit I
put down on the fishing trip.

Thanks


I'm a little confused.  Do I need to contact Gary Bode to (1) get Brent and
the Buenos Aires legal team access to the current Lotus Master Swaps
Database, or (2) get the software developed for Brent to copy the database to
create a document tracking database for the Argentina legal contracts, or (3)
both?


The Business Coalition for Clean Air (BCCA) has formed a new Legislative
Subcommittee to lobby for our alternative to the State Implementation Plan
(SIP) about to be finalized by the Texas Natural Resource Conservation
Commission.  Joe Allen will be on the committee locally, and Jeff Keeler will
be on the Washington, D.C. side of the same committee dealing with federal
SIP matters such as tax incentives and EPA intervention.  I will provide
backup to Joe's participation and continue as chair of the economic impact
group given a continuing need for new analysis as new scenarios are proposed
and debated in 2001.

The BCCA alternative SIP has several key features:

 * 65 mph instead of 55 mph

 * no morning construction and lawn equipment ban

 * 80% reduction for point sources instead of 90%

 * no "boutique" fuel requirement before the federal fuel standard comes into
effect in 2004.

The BCCA believes that these control measures are extremely costly and would
lead to a no growth scenario for Houston and that, importantly, a more
realistic modelling day reduces the amount of NOx reduction that the
8-country area needs to achieve compliance by 2007.  [Barton Smith will speak
to the economic analysis at a 12/13 (Wednesday) luncheon at the Hyatt
downtown--I have a table if anyone would like to attend.)]

The Legislative group is hiring lobbyists in Austin to try to pass a
legislative package as part of the alternative plan.  The major elements are:

 * tax incentives for on-road and off-road vehicles to clean up

 * money for new modelling studies to match federal funds received from Tom
Delay

 * incentives and subsidies for new inspection/maintenance requirements;
vehicle scrappage; low-income
   vehicle repair

 * a vehicle registration fee standard based on emissions

 * a later start for public schools (after Labor Day)

Finally, there has been very little movement by the TNRCC towards the BCCA
alternative SIP with December 6th coming up, especially regarding choosing a
new air modelling day or period.  Litigation could be likely.

- Rob


---------------------- Forwarded by Darron C Giron/HOU/ECT on 10/25/2000
08:59 AM ---------------------------

Dawn C Kenne
10/24/2000 10:31 AM
To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: Re: It could happen!!!

Thought you would appreciate the "discussions" going on between Bass and
Landry.

ENJOY!!!
---------------------- Forwarded by Dawn C Kenne/HOU/ECT on 10/24/2000 10:33
AM ---------------------------

	Enron North America Corp.

	From:  Eric Bass                           10/24/2000 10:20 AM

To: Chad Landry/HOU/ECT@ECT
cc: Matthew Lenhart/HOU/ECT@ECT, Christopher Coffman/Corp/Enron@Enron,
William Kelly/HOU/ECT@ECT, Kyle Etter/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT,
Jay Reitmeyer/HOU/ECT@ECT, Jeff Coates/HOU/ECT@ECT, William
Keeney/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, John King/HOU/ECT@ECT,
Luis Mena/NA/Enron@Enron, Lisa Gillette/HOU/ECT@ECT, Susan M
Scott/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Nick Hiemstra/HOU/ECT@ECT,
Benjamin Thomason/HOU/ECT@ECT, David Marks/HOU/ECT@ECT, Timothy
Blanchard/HOU/EES@EES

Subject: Re: It could happen!!!

I guess you just summed up the difference between our two programs - at Texas
we play for National Championships  at LSU you play to make the Sharpie
Independence bowl.  Yes we were rated in the top 10 at the beginning of the
year and yes we are rated #20 now.  You forget that we are only half way
through the season - we will be in the top 10 again before the year is out.
Where will LSU be?  Besides we weren't supossed to play in the Orange Bowl
this year ( this is only Mack Brown's 3rd year), but anything less than the
Rose Bowl nest year will be dissapointing.

See you in Pasadena 2002

EPB

Chad Landry
10/24/2000 10:07 AM
To: Eric Bass/HOU/ECT@ECT
cc: Matthew Lenhart/HOU/ECT@ECT, Christopher Coffman/Corp/Enron@Enron,
William Kelly/HOU/ECT@ECT, Kyle Etter/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT,
Jay Reitmeyer/HOU/ECT@ECT, Jeff Coates/HOU/ECT@ECT, William
Keeney/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, John King/HOU/ECT@ECT,
Luis Mena/NA/Enron@Enron, Lisa Gillette/HOU/ECT@ECT, Susan M
Scott/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Nick Hiemstra/HOU/ECT@ECT,
Benjamin Thomason/HOU/ECT@ECT, David Marks/HOU/ECT@ECT, Timothy
Blanchard/HOU/EES@EES
Subject: Re: It could happen!!!

Its all about expectations, my man!  What was Texas Ranked at the beginning
of the season????  I am waiting for CNNSI to come out with a poll on the most
overrated team of the year---my guess---a pick'em b/w Alabama and Texas.  Any
time Texas is challenged they "you-know-what" their pants.

CKL

	Enron North America Corp.

	From:  Eric Bass                           10/24/2000 09:53 AM

To: Chad Landry/HOU/ECT@ECT
cc: Matthew Lenhart/HOU/ECT@ECT, Christopher Coffman/Corp/Enron@Enron,
William Kelly/HOU/ECT@ECT, Kyle Etter/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT,
Jay Reitmeyer/HOU/ECT@ECT, Jeff Coates/HOU/ECT@ECT, William
Keeney/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, John King/HOU/ECT@ECT,
Luis Mena/NA/Enron@Enron, shirley.s.elliott@citicorp.com @ ENRON, Lisa
Gillette/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT,
Nick Hiemstra/HOU/ECT@ECT, Benjamin Thomason/HOU/ECT@ECT, David
Marks/HOU/ECT@ECT, Timothy Blanchard/HOU/EES@EES
Subject: Re: It could happen!!!

Easy there Superfan!  Remember, you still have to win 1 of your last 3 games,
none of those are gimmes (see UAB).  As far as bowls go,  LSU to the Cotton
Bowl? Come on, the Sharpie Independence Bowl is more likely (although UT will
probably join you).  In addition, a sweep would never happen if you were
lucky enough to face UT - can you say better QB, RBs, WRs, and Defense.
Besides, we have turned the corner after our embarrassing loss to OU (the #2
team in the country). I feel pretty good about our chances the rest of the
way.

 Face it, the SEC is having a down year.  It happens to all Conferences.
It's just that this down year has enabled LSU a few chances to tear down the
goalposts (and against the #11 team in the country - how sad is that).

 And far be it from me to defend the Aggies, but which school was the one to
back out of that contract a few years back?

See you in the Shreveport.

Final Score
UT - 58
LSU - 3

Chad Landry
10/24/2000 09:32 AM
To: Eric Bass/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT, Christopher
Coffman/Corp/Enron@Enron, William Kelly/HOU/ECT@ECT, Kyle Etter/HOU/ECT@ECT,
Kam Keiser/HOU/ECT@ECT, Jay Reitmeyer/HOU/ECT@ECT, Jeff Coates/HOU/ECT@ECT,
William Keeney/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, John
King/HOU/ECT@ECT, Luis Mena/NA/Enron@Enron, shirley.s.elliott@citicorp.com @
ENRON, Lisa Gillette/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT, Dawn C
Kenne/HOU/ECT@ECT, Nick Hiemstra/HOU/ECT@ECT, Benjamin Thomason/HOU/ECT@ECT,
David Marks/HOU/ECT@ECT
cc:
Subject: It could happen!!!

There are some pretty interesting college football predictions flying around!
After their incredible victory last Saturday night, some folks have LSU going
to the Cotton Bowl this year.  I would love to see LSU sweep UT this year in
yet one more major college sport-------basketball (NCAA tournament), baseball
(College World Series), and, yes, football in the Cotton Bowl this year.
However, it would be just as sweet to wip up on our old football
nemesis---The Aggies.  Although I think the Tigers would have to be a little
more careful, since the Aggies occasionally spice up their offense with a
crazy "REEEEEEEE-Verse" play or maybe even a pass on first down.

We can only hope that one of these situations occur!

GEAUX TIGERS!

http://www.geaux.com/sports/foot/news/001024bowls.htm

CKL


Here is the draft Legal Risk Memo that was discussed for your review.

Regards,
Brent


MacroWorld Portfolio Review: 12/13/2000
Courtesy of Macro*World
06:38 pm est
---------------------------------------------------------------------------
This Email portfolio is available on either a weekly or daily basis.
To change your option or to stop receiving this portfolio, select
the option marked "EMail" in the Options section of the website.
---------------------------------------------------------------------------

Profit warnings took their toll on the tech sector, sending
Nasdaq down triple digits in late trading.  Blue Chips pared
their gains and finished little changed in the wake of the
Supreme Court decision that''ll put an end to the 5-wk long
presidential deadlock.

Economic reports:Retail Sales in
Nov dipped 0.4% after a 0.1% rise in Oct - weaker than expected.
Excluding auto, sales were down 0.2%;Import Prices in Nov
increased by 0.2% after a 0.5% dip in Oct.

Compaq warns
that it expects to miss analysts'' expectations for the 4th
qtr due to lower home PC sales .

Whirlpool
warns its earnings will fall short of expectations and says
it will cut 6,300 jobs.

General Mills reports
qtly earnings of $0.70/shr, topping Street expectations by
2 cents.

Amgen plans to buy back up to $2 bil of its outstanding
shares.

Microsoft selects Electronic Arts
to develop games for the Xbox video game system .

Merck boldly predicts its experimental AIDS vaccine
will prove effective .

Markets overseas are
mixed. The London FTSE is up 0.20%, the Frankfurt DAX is
down 1.76%, and the Paris CAC40 is down 1.41%. Tokyo''s Nikkei
closed up 0.36%, Hong Kong''s Hang Seng closed up 1.91%,
and Sydney''s All Ordinaries closed down 0.45%.

Economic
calendar:
Thu: Jobless Claims, Business Inventories;
Fri:
CPI, Industrial Production.

Market Segments
----------------------------------------
DJ Industrials   10,794.4       26.2
S&P 500           1,360.0      -11.2
NY Composite        653.3       -1.7
ASE Composite       880.0       -0.8
NASDAQ Compsite   2,822.8     -109.0

Capital Sectors   %Change
----------------------------------------
Large Cap            -1.0%
Mid Cap              -1.4%
Small Cap            -0.7%

Market Volumes (millions of shares)
----------------------------------------
NYSE: 1,181.4
NASDAQ: 2,022.7

----------------------------------------------------------------------
Market Timing: M*W Action Index

For Short-term traders/market timers Only!

(Enter market when Index >67, Exit when Index <33)

Latest Reading:

12/12/2000 4PM of 47.7, staying in the market (S&P=1371.2, +43.8%)

Previous Signal:
Entered market 12/29/1997 on index of 74.7 (S&P=953.4)

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

If you would like to receive a news and price changes on stocks or funds,
you can set up a personal portfolio in the portfolio section.
----------------------------------------------------------------------
Footnote to Tables:

(1) To view the individual analyst ratings for any
security, first access the security in the Research
section of the MacroWorld site. Then click on the
ratings icon in the RESEARCH sub-menu.

(2) The Day's Volume as a percentage of the 90 day average.
----------------------------------------------------------------------

Notice:

The investment strategies and information featured on the
MacroWorld(sm) web site may not be suitable for all investors
and are not intended to be investment advice. Some of the data
displayed on the MacroWorld(sm) web site is based on historical
performance of various types of investments. Since past performance
does not guarantee future results, please do not rely on the
information presented on the MacroWorld(sm) web site to make
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The information provided on the MacroWorld(sm) web site is provided
for informational purposes only. All information, data and news is
protected by copyright and other applicable laws. All reproduction,
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as the User deems appropriate.

Neither Wachovia, nor its licensors, contractors or affiliates, nor
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This E-mail portfolio is available on either a weekly or daily
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portfolio you  may do so by selecting the button marked "E-Mail" in
the Options section.


Same.  Mary
----- Forwarded by Mary Cook/HOU/ECT on 08/29/2000 08:15 AM -----

	Carol St Clair
	08/29/2000 08:10 AM

		 To: Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT
		 cc:
		 Subject: Project Tahiti Transaction Documents

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 08/29/00 08:07 AM -----

	"Cassandra Davis" <DAVICA@andrews-kurth.com>
	08/24/00 11:33 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>, <mercedes.arango@us.cibc.com>, <schottla@us.cibc.com>,
<wolfmark@us.cibc.com>, <aroberts@wilmingtontrust.com>
		 cc: "David Barbour" <BARBD@andrews-kurth.com>, "CHRIS KRECEK"
<KRECC@andrews-kurth.com>, "DEBORAH LOWE" <LOWED@andrews-kurth.com>, "MURIEL
McFARLING" <MCFAM@andrews-kurth.com>, "SCOTT OLSON"
<OLSOS@andrews-kurth.com>, "Mary Rembert" <REMBM@andrews-kurth.com>
		 Subject: Project Tahiti Transaction Documents

Attached please find the following transaction documents for Project Tahiti:

1.   Tahiti Series Trust Agreement (254424)
2.   Beneficial Interest Certificate Issued to Enron Corp. (254806)
3.   Series Supplement Creating Series Z (254816)
4.   Tahiti Series Z Certificate issued to Fiji Z, L.L.C. (254975)
5.    Warrant Assignment (254974)
6.     Promissory Note from Tahiti Series Trust to EES (254802)
7.     Direction Letter to Owner Trustee of Tahiti Series Trust (254976)
8.     Amended and Restated Limited Liability Agreement of Fiji Z, L.L.C.
        (254423)
9.     Promissory Note from Fiji Z, L.L.C. to Tahiti Series Trust (254977)
10.   Amended Restated Limited Liability Agreement Bora Bora Z, L.L.C.
        (254978)
11.   Promissory Note from Bora Bora Z, L.L.C. to Fiji Z, L.L.C. (254979)
12.   Independent Auctioneer Letter Agreement
13.   B Interest Assignment Agreement (254982)
14.   Promissory Note from Bali Trust to Bora Bora Z, L.L.C. (254981)
15.   Beneficial Interest Certificate to Certificate Holder of Bali Trust
(254983)
16.   Direction Letter to Owner Trustee of Bali Trust (254980)

Also attached please find a Project Tahiti Structure Diagram.

The attached documents are in Word Perfect and are marked against the
corresponding document from the Hawaii 125-0, McGarett Series B Transaction.
A subsequent e-mail with the above listed documents attached in Microsoft
Word will follow.

Please note that although the Tahiti Series Trust Agreement is marked against
the Hawaii 125-0 Trust Agreement, it is a new trust and will hold the
Warrants.

The Sale and Auction Agreement, the Bali Trust Agreement (which will hold the
Fiji Z Class B Member Interest) and an assignment document for the assignment
of the Bali Note from Bora Bora Z, L.L.C. to Fiji Z, L.L.C. will be
distributed on Friday, the 25th.

Please fax comments to David Barbour and Muriel McFarling at 214-659-4401 by
Monday, August 28th.

If you have any questions, please call David Barbour at 214-659-4444.

 - b255097.wpd
 - b254423.wpd
 - b254424.wpd
 - b254802.wpd
 - b254806.wpd
 - b254816.wpd
 - b254974.wpd
 - b254975.wpd
 - b254976.wpd
 - b254977.wpd
 - b254978.wpd
 - b254979.wpd
 - b254980.wpd
 - b254981.wpd
 - b254982.wpd
 - b254983.wpd
 - 255095 Structure.wpd


Cabo's--very hip if you like meat markets (which I do, of course).  I suspect
that fish tacos are a  very popular dish in London--at least among the London
surfer crowd.  You can reach me on the cell phone @402-630-8461--I'll leave
it on all day.  So what brings both of you down to Houston?  Anything going
on that I ought to know about?  DF

Mark Schroeder@ECT
07/10/2000 12:11 PM
To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: Re: Houston

Dinner at Cabo (grilled fish tacos), downtown, hits the spot.  We should be
reachable at the Four Seasons, downtown, so leave us a message as to where to
reach you.  mcs

	Enron Capital & Trade Resources Corp.

	From:  Drew Fossum @ ENRON                           10/07/2000 15:17

To: Mark Schroeder/LON/ECT@ECT
cc:

Subject: Re: Houston

Outstanding!  I'm in Houston on Thursday, flying to the big O on the 8:30 pm
flight.  I'd love to get together for dinner around 5:00 or so if that works
out for you guys.  Any chance of getting together with both of you?  DF

Mark Schroeder@ECT
07/10/2000 04:24 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: Houston

Flying in to Houston with Mary on Thursday afternoon, and back to London on
Saturday p.m.  Any chance of seeing you, e.g., an early dinner on Thursday?
mcs


---------------------- Forwarded by Mike Carson/Corp/Enron on 07/31/2000
10:33 AM ---------------------------

"Merideth, Ken" <MeridetK@kochind.com> on 07/31/2000 08:22:05 AM
To: "'mike.carson@enron.com'" <mike.carson@enron.com>
cc:

Subject: FW: Entergy and FPL Group Agree to a $27 Billion Merger Of Equals
Creating the Nation's Largest Power Company

> -----Original Message-----
> From: Goodman, David
> Sent: Monday, July 31, 2000 7:16 AM
> To: Billy Miller; Chris Hellman; Darrell Antrich; Jason Winfield; Jeff
> Patin; Jim Stevens; Ken Merideth; Mark Egan; Melissa Beckett; Michael
> Dehaven; Peter Shipman; Scott Weissman; Willis Philip
> Subject: Entergy and FPL Group Agree to a $27 Billion Merger Of
> Equals Creating the Nation's Largest Power Company
>
> http://biz.yahoo.com/prnews/000731/fl_entergy.html


Are you back?  When you get settled I want to hear vacation stories, and I
will update you on my confused dating life. 713.207.5318


Each meter is now to be treated seperately: Tickets have been created
accordingly.

Meter 1233

Base  148376
Swing  148382
Buyback 148381

Meter 1394

Base  148390
Swing  148391
Buyback 148396

Meter 8018

Base   148376
Swing  148382
Buyback 148381

Volume Management will need to set up accounting arrangements to cover
November and December 1999. Scheduling will repath and renom Unify, and
reallocate POPS for January.

If anyone has anything to add to this please let me know.

Ken


Chris ask Dave he is still the king of your world in my mind.


Thanks.

DG

	From:  Jason Wolfe @ ENRON                           01/16/2001 04:20 PM

To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: Re: Monthly Natural Gas P & L Request

I forwarded this to Carole to take care of Northwest as she was running it
Nov and Dec.
I also sent off the Mgmt-West P&L

Jason


Pre-bid will be on Monday 1/24.

D

	Enron North America Corp.

	From:  Melissa Graves                           01/05/2000 09:53 AM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Nom for Feb.

Darren,

We are putting together our January calendar.  Can you let us know when the
pre-bid meeting is this month for February production?

Thanks,
Melissa


Note:  Westpath Expansion plans filed at NEB
TransCanada Plans Export Capacity Additions
While it will take another two years for a Mackenzie Valley production and pipeline project to come together, there are signs that a safety margin is developing in Canadian natural gas supplies. Western Canada's established, heavily exploited gas fields can still deliver production growth for years to come, the National Energy Board has been told.
TransCanada PipeLines Ltd. delivered the reassuring word in an application for a year-2002 expansion program dedicated primarily to increasing exports to California and the northwestern United States. TransCanada predicted that production from the western provinces can rise by about 15% to a sustained rate of 20 Bcf/d until at least 2010.
Titled the Westpath Expansion, TransCanada's proposal calls for $48.3 million in new facilities to raise capacity on its British Columbia System by 420 MMcf/d or 16% to about 3 Bcf/d. The route crosses southeastern B.C. from the Alberta boundary to an export point on the U.S. border, where it fills PG&E Gas Transmission.
Along with U.S. traders and power generators, customers lined up for the added service include Vancouver distributor BC Gas Utility Ltd. and Powerex Corp., a subsidiary of BC Hydro that procures fuel for gas-fired power stations.
TransCanada told the NEB that it also expects to file a further expansion proposal in second-quarter 2002 for the B.C. System. The agenda matches growth under way on PG&E. TransCanada acknowledges that its forecast of supplies from the western provinces is more optimistic than the current expectations of the NEB, the Alberta Energy and Utilities Board and the Canadian Gas Potential Committee. The pipeline company said its information goes beyond official public records to include confidential data from customers, its own proprietary studies and updated information on results of last year's boom in gas drilling.
The pipeline has told the NEB that "with continued demand growth, the Western Canada Sedimentary Basin should be able to support increasing levels of gas deliveries of up to 20 Bcf/d at least through this decade." Production from Alberta, B.C. and Saskatchewan averaged an estimated 17.2 Bcf/d in 2001. TransCanada also predicts that "unconventional gas" -- chiefly coalbed methane, and possibly reserves in "tight" or difficult geological formations -- will enter production by about 2006 and eventually reach 4 Bcf/d. But the pipeline projection acknowledges most tight gas "is not currently considered economically available within the forecast horizon (to the year 2025) and current technological assumptions." At the same time, TransCanada said there is also great uncertainty in predicting gas production from coal deposits because there is none yet in Canada.
In the absence of a performance record to guide reserves and production projections, the pipeline says only that "if research and development and economics lead to successful commercial operations, these sources may start contributing supply this decade."
In a separate toll case before the NEB, TransCanada predicts it will be 2008 before northern gas -- from either the Northwest Territories or Alaska -- begins to flow south. An announcement Jan. 14 by the Mackenzie Delta Producers Group and the Mackenzie Valley Aboriginal Pipeline Corp. suggested that TransCanada's educated guesswork is on the money. After nearly two years of preliminary feasibility studies and consultations with northern communities, the group -- Imperial Oil, Conoco Canada, Shell Canada and ExxonMobil Canada -- declared intentions to go ahead on a second planning stage. Next comes the "project definition phase," or $200-$250 million in technical, environmental, commercial and consultation work required to make regulatory applications for field, gas-gathering and pipeline facilities.
Conoco predicted the package will be completed and placed before Canadian authorities in 2003. The group says it intends to tap Arctic discoveries called Taglu, Parsons Lake and Niglintgak to send 1.2-1.5 Bcf/d south to northwestern Alberta. The plan calls for the gas to finish its trip to markets via spare capacity on TransCanada's system.
TransCanada is in step with the group's expectations in suggesting it will take five years beyond 2003 to collect approvals and build the project. The pipeline company's forecast suggests northern production will arrive gradually, going from a starting rate at 500 MMcf/d in 2008 to 900 MMcf/d in '09, 1.1 Bcf/d in 2010, 1.2 Bcf/d in 2011 and 1.4 Bcf/d by 2012. The new forecast still does not predict which northern gas will flow, however.
As a partner in the reborn Alaskan Northwest Natural Gas Transportation Co., TransCanada is teamed up with eight other companies to revive the Alaska Highway pipeline route worked out in the 1970s for production from Prudhoe Bay. In the documents before the NEB, TransCanada says it "recognizes various uncertainties with respect to northern gas supply regarding economics, timing, routing and scope. It's unclear as to which pipeline will be successful in attracting northern gas."


sorry i've taken so long...just been trying to fend off the chicks.   life is
sooooo hard sometimes.

MONKEY !!!!!!!!!!!!!!!!!

From: Brian O'Rourke@ENRON COMMUNICATIONS on 01/04/2001 10:04 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Yeah Monkey!!!!!!!!!!!!!!!!!!!!!!!!!!!

Monkey;

Hey you little bastard, what the fuck are you doing in a picture in
E-Company???  What, do you think that should help you score women.  How do
you say BALANCE SHEET!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Yeah Monkey,

B


To:GRIFFITH, JOHN
Email:john.griffith@enron.com - 713-853-6247
?

Enron Wholesale Services - Office of the Chairman

?
From:??Mark Frevert, Chairman & CEO
??????Greg Whalley, President & COO
??????Mark Haedicke, Managing Director & General Counsel
?
Subject:??Confidential Information and Securities Trading
?
Enron Wholesale Services ('EWS') maintains official Policies and Procedures
Regarding Confidential Information and Securities Trading ('Policies and
Procedures'), which have been revised as of November 15, 2000 to reflect the
new EWS structure.  These policies and procedures are intended to allow us
simultaneously to pursue our diverse businesses and to protect confidential
information, our reputation for integrity, and EWS and its employees from
legal liability.
?
You are required to become familiar with, and to comply with, the Policies
and Procedures.  The newly revised Policies and Procedures are available for
your review on LegalOnline, the new intranet website maintained by the Enron
Wholesale Services Legal Department.  Please click on the attached link to
access LegalOnline:
?
http://legalonline.corp.enron.com/chinesewall.asp
?
You must certify your compliance with the Policies and Procedures within two
weeks of your receipt of this message.  The LegalOnline site will allow you
to quickly and conveniently certify your compliance on-line with your SAP
Personal ID number.  If you have any questions concerning the Policies or
Procedures, please call Lance Schuler at extension 3-5419, Mark Haedicke at
extension 3-6544, Alan Aronowitz at extension 3-3214, Bob Bruce at extension
5-7780 or Donna Lowry at extension 3-1939.


MARK YOUR LUNCH CALENDARS NOW!

You are invited to attend the ENA/EGM/EIM Brown Bag Lunch Series

Featuring Craig Breslau
Vice President
Industrial Middle Markets

Discussion Topic:  Risk Management Marketing

Thursday, September 21, 2000
11:30 AM - 12:30 PM
 EB 5C2

You bring your lunch -           Limited Seating
We provide drinks and dessert!           RSVP  X 57352


Shawn, if you are in - I would like you to work with Dave Duran on this
item.  He currently manages the ENA IPP group and the QF Restructuring Group.
I would like to manage this under Dave and your leadership.  He has created a
lot of businesses and value in ENA over the years and can help.

Let me know

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/28/2000
09:09 PM ---------------------------

Shawn Cumberland@ENRON_DEVELOPMENT
11/27/2000 04:51 PM
To: David W Delainey@ECT
cc:
Subject: meeting

Dave:

Thanks for your time and patience today.

For now, I'll park the theoretical and focus on the practical.  (we can pick
up the other topics later over beers sometime)

I completely agree that the US coal-genco business can offer a huge near-term
win for those that move swiftly.

Thanks for offering me the shot to capitalize on it.

Shawn


You scared me...I went in to make sure I sent the list to everybody!!
----- Forwarded by Tana Jones/HOU/ECT on 06/02/2000 10:13 AM -----

	Tom Moran
	05/30/2000 06:09 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT,
Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, David
Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT,
Linda S Bryan/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT, Sylvia A
Campos/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON,
Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts and Facilities,
Enron Europe Global CounterParty, Stephanie Sever/HOU/ECT@ECT
		 cc:
		 Subject: EOL / Credit / GCP Responses 5/30/00

Please find attached Credit's EOL responses for 5/30/00

Regards
tm


---------------------- Forwarded by Tamara Jae Black/HOU/ECT on 02/23/2001
07:58 AM ---------------------------

	Enron North America Corp.

	From:  Claudia Guerra @ ENRON                           02/20/2001 10:50 AM

To: Tamara Jae Black/HOU/ECT@ECT
cc:
Subject: Technical Analysis Seminar

There will be a three-part seminar on technical analysis and everyone in our
group is invited to attend. The classes will be held on Tuesdays, 3:00 to
4:00 pm in conference room 30C1.

March 13th
The ideology and assumptions of technical analysis;
Brief history
Methods of Charting
Trendline Analysis

March 20th
Classic Pattern Analysis
Japanese Candlesticks analysis
Moving Averages

March 27th
Oscillators
Elliott Wave

Thank you


In case no one told you, Brent is not in the office today.

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

	Caroline Abramo@ENRON
	04/25/2001 12:31 PM

		 To: Sara Shackleton/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Brent
Hendry/NA/Enron@Enron
		 cc: Paul Radous/Corp/Enron, Fred Lagrasta/HOU/ECT@ECT
		 Subject: Re: Valentis and CD Holdings

sure... i think you have everything on valentis and cd holdings.. i am
waiting for those docs and AIG to go out.. i have all the other info on the
funds we have in the system and will just use the template you gave me to
organize it.

Brent- did you find the Catequil confirms ... also, comments on Catequil????

thanks,
Caroline

From: Sara Shackleton@ECT on 04/25/2001 11:04 AM
To: Caroline Abramo/Corp/Enron@ENRON
cc: Carol St Clair/HOU/ECT@ECT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Re: Valentis and CD Holdings

Caroline:

As you know, Carol is working on your template; then Frank, Carol and I  will
have to review/discuss.  You will have the template soon.  We are all working
hard to provide you with the necessary documentation.

Are you preparing the information for us?

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

	Caroline Abramo@ENRON
	04/25/2001 10:07 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: Valentis and CD Holdings

sara- can i have a blank template over email.. thanks, ca

From: Sara Shackleton@ECT on 04/25/2001 09:03 AM
To: Caroline Abramo/Corp/Enron@ENRON
cc: Fred Lagrasta/HOU/ECT@ECT, Paul Radous/Enron@EnronXGate

Subject: Re: Valentis and CD Holdings

Caroline:

No Deemed ISDA, we decided that yesterday for the long-dated deal.

We are working on the draft masters for emailing.  Please send me the
information about your counterparties' lawyers so we can begin negotiating.

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

	Caroline Abramo@ENRON
	04/25/2001 06:42 AM

		 To: Sara Shackleton/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Fred Lagrasta/HOU/ECT@ECT, Paul Radous/Corp/Enron
		 Subject: Valentis and CD Holdings

Please send the draft ISDAS to:

Marty Lifgren- mlifgr@wexford.com
Charles Davidson- cdavid@wexford.com

We agreed that the fastest way to proceed wwas to send the ISDA or can we
still send the deemed ISDA?.


Please plan to attend:

Management Committee Meeting
Friday, November 16
9:00 a.m. (Central)
50th Floor Boardroom
Video connection to London office

Thanks,
Joannie
3-1769