It is good to be getting feedback on these standards.  After you have
received all responses, I will be curious as to the number and nature of
changes suggested.  I think for this to be powerful, we will need to expect
all commodities and all locations to meet common standards.  I will reserve
judgement on that however, pending your assessment once you have gotten all
responses.
---------------------- Forwarded by Sally Beck/HOU/ECT on 08/25/2000 12:20 PM
---------------------------

	Peggy Hedstrom
	08/25/2000 09:06 AM

To: Michael E Moscoso/HOU/ECT@ECT, Shona Wilson/NA/Enron@Enron
cc: Sally Beck/HOU/ECT@ECT, Jonathan McKay/CAL/ECT@ECT, Dianne
Seib/CAL/ECT@ECT
Subject: Re: Global Standards

We have reviewed the proposed Global Standards and would like to propose two
changes for the Calgary office:

 Function:    Deal Confirmation
 Standard:  Brokered deals confirmed within 24 hours (versus the proposed
same day)

 Function:    Deal Confirmation
 Standard:  Deliver confirmation within 48 hours (versus the proposed 24
hours)

In order for us to meet the originally proposed standards, we would either
require additional staffing or a reduction of the review process for our
transactions.
Let me know if you have any questions or require additional clarification.  I
can be reached at ext. 6753.
Peggy

	From:  Shona Wilson @ ENRON                           08/21/2000 03:28 PM

To: Lisa B Cousino/HOU/ECT@ECT, Mike Jordan/LON/ECT@ECT, Brent A
Price/HOU/ECT@ECT, Sheila Glover/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT, Bob M
Hall/NA/Enron@Enron, Steve Jackson/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT,
Sally Beck/HOU/ECT@ECT, Stacey White/Corp/Enron@ENRON, Peggy
Hedstrom/CAL/ECT@ECT, Brenda F Herod/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT,
Mary Solmonson/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT, Patti
Thompson/HOU/ECT@ECT
cc: Michael E Moscoso/HOU/ECT@ECT
Subject: Global Standards

As I discussed in the staff meeting, I am sending you the global standards
for your review and comment.  Please review these standards to determine if:

The targets set are reasonable for your business and
As minimum standards, they are comprehensive enough (if you would like to see
additional reporting)

Lastly, in the upcoming month we will start to implement exception reporting
for these standards.  Please let us know who the key contact in your
department would be for this implementation.

Please address all correspondence to Michael Moscoso.

Thank you,

Shona


John,

I want to thank you for your compliment to the work that we have done for the
Liberty
County Storage facility valuation.

You and your talented associate Ms. Tian gave me a lot of valuable insights
to understand all
the aspects of the deal, so it was also a great learning experience for me.

If you think the Research can help you in any way to your deals,  storage,
transport, MTBE, real options,
or whatever,  just let me know, we will get the job done.

Zimin


Start Date: 1/16/02; HourAhead hour: 3;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

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Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
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Error: dbCaps97Data: Cannot perform this operation on a closed database


How much should we sell for Sat - Mon?

thx


Janet, any ideas?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/13/2000
11:49 AM ---------------------------

Scott Neal
11/12/2000 08:20 PM
To: David W Delainey/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron
cc: Frank W Vickers/HOU/ECT@ECT
Subject: Org Chart

John/Dave,

Frank and I would like to recommend assigning Phil Demoes outside of our new
group as part of the upcoming reorganization.
Please let us know if you would like to discuss further and how we should
proceed.
---------------------- Forwarded by Scott Neal/HOU/ECT on 11/12/2000 08:14 PM
---------------------------

Frank W Vickers
10/23/2000 09:56 AM
To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Org Chart

Scott, hope all is well.  I will get to the point.  What are your suggestions
on the individuals that we have been assigned ?  I need to rely on you for
any input that might suggest that we not take someone on.  I understand that
Dave wants any personel changes as soon as possible.  What do you think ?  We
do not want to begin with HR problems if we can avoid it upfront.

Please e-mail or call at 503-464-3940.

Frank


Tim,
 My computer numbers are:
  ECTPDX-990602
  ECTPDX-996829


We will be doing a confernce call tomorrow am @ 10:00 our time with JP Morgan 877-382-9541 passcode 473270 to answer some of the questions, especially the CERA questions.

--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Brent.Wahl@jpmorgan.com <Brent.Wahl@jpmorgan.com>
To: Hayslett, Rod <Rod.Hayslett@ENRON.com>
CC: Eric.Fornell@jpmorgan.com <Eric.Fornell@jpmorgan.com>; DAVID.EDELSON@chase.com <DAVID.EDELSON@chase.com>; Carl_O_Vevle%JPMORGAN@restricted.chase.com <Carl_O_Vevle%JPMORGAN@restricted.chase.com>
Sent: Fri Nov 23 13:33:28 2001
Subject: Transwestern information requests

Rod:

As per our phone conversation, the list of information we would like to
have follows:

1.  FERC Form 2s for the last three years
2.  Revenue breakdown:
   Assumptions made for the contracted period, as well as the time period
   beyond current contracts - firm/interruptible mix and volumes, tariffs
   for each type of transportation contract
   A build up from contracts to the revenues in the model would be ideal
3.  As before, compressor gas volumes and assumed sales prices for the
projected years
4.  As before, the story as it relates to CERA's view of the world
5.  Explicit calculation of rate base going forward
6.  Employee benefit plan information - funding status, return rates,
future liabilities

Thanks Rod.

When you have a time in mind for a call to discuss the above list please
contact:

Eric Fornell

Home: 516-626-9464

or myself

Home: 914-833-0234
Work:   212-270-6154
Cell:      646-232-5305


Martin, the deal I mentioned to you this morning is #113186.  Presently we are buying from you and selling to Direct Energy Marketing Limited.  We need to step out of this deal and have you paper the trade between ENA and Direct.  If you require any information regarding this counterparty or contact information, please contact Grant Oh in our office.

Thanks
Laura


Ok, I would like to go over a couple of things this afternoon if possible.  I'll try to come down for 30 min or so.

 -----Original Message-----
From: 	Erwin, Stephanie
Sent:	Tuesday, November 27, 2001 9:22 AM
To:	Germany, Chris
Subject:
Importance:	High

Chris,

I was serious about us getting together sometime today to go over that transport stuff that took place yesterday.
Let me know when you are available, ok?

Thanks,
Stephanie

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, November 26, 2001 4:05 PM
To:	Fletcher, Brenda H.
Cc:	Carter, Tamara; Halstead, Lia; Erwin, Stephanie ; Townsend, Judy
Subject:	Discounts

We negotiated the following discounts on Tenn and TGT

Tenn - all discounts are for the 27th only.

Z0 to Kinder k#2891	$.1421
Z0 to Tewksbury (Z6) k#2891  $.35

Texas Gas - discounts apply from 26th-30th.
SL Pool to Mamou k# T001886   $.0421


A reminder for when you get back on Monday!
---------------------- Forwarded by Tana Jones/HOU/ECT on 10/15/99 04:24 PM
---------------------------

	Enron North America Corp.

	From:  Tana Jones                           10/12/99 03:08 PM

To: Michael E Moscoso/HOU/ECT@ECT
cc: Mark E Taylor/HOU/ECT@ECT, David P Dupre/HOU/ECT@ECT
Subject: Notice to Brokers re: Name Change

We are getting calls from our brokers and the NYMEX telling us the brokers
still have not received notification of our name change.  This is causing
problems with the brokers clearing the trades on the NYMEX.  Per my voicemail
several weeks ago, since you/your desk are our communications guy with the
brokers,  they need to receive the notice as soon as possible.   When will
you be able to get this notice our of our name change?


email you what???

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


i am starting to figure you out.


January 7, 2002

The Tennessee Gas Pipeline Mendon Interconnect (MR 00205) has been
scheduled to the capacity that Algonquin (AGT) can accept into the AGT
system for gas day January 8, 2002. Receipts at the Mendon interconnect
will be restricted to the capacity of 200,000 Dth for gas day Tuesday,
January 8, 2002.

Please contact your Operations Account Manager if you have any
questions.

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

NOTE:

Duke Energy Gas Transmission respects your online time and privacy.
You have received this email because you elected to subscribe. To
unsubscribe, login to the E-mail Notification Subscription page at
http://www.link.duke-energy.com/script2/Notification.asp
uncheck the appropriate checkbox, and click the Submit button.


I just found this file on my hard drive- it's worth checking yours....
Julie Gibson
Below is a forward that I just received.  This virus was found on my
hard drive, so please check yours immediately!
A virus "fnbk" has been found in my hard drive: I have received it
through email. It has been programmed to have a delay in its activation.
Cause of th delay McAfee and Nrtont antivirus had not been able to
detected it . Once he gets activated it will destroy all your files. The
virus is spreading throughout e mail and gets into the disc
'C:\\WINDOWS\COMMAND' Here is a way to get rid of it:
>Click start
>Click find file
>Select hard disk (C)
>The name of the file containing the virus is SULFNBK.EXE
>If the file is found, DO NOT OPEN IT, DELETE IT . MAKE SURE YOU EMPTY
YOU
>TRASH CAN AFTER THE OPERATION.
>If you have found the file, send this message to any person you have
>communicated through email in the last 6 months.


Bob, see the quote about $83 /5-yr power

GAC

Article 1   Next Article    Return to Headlines

Moody's:Won't Downgrade Calif Utils To Junk Before Jan 4

12/22/2000
Dow Jones Energy Service

(Copyright (c) 2000, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- Moody's Investors Service doesn't expect to reduce the
debt ratings of California's two largest utilities below investment grade
status before state regulators meet on a rate hike on Jan. 4.
But the ratings agency said in a press release Friday that it might still cut
the ratings of PG&E Corp. (PCG) unit Pacific Gas & Electric and Edison
International (EIX) unit Southern California Edison next week to a level
short of speculative status, and set strict terms for what it would consider
a favorable ruling by regulators on Jan. 4.

"Moody's will continue to review for possible downgrade the ratings of
Southern California Edison Company and its parent, Edison International, and
the ratings of Pacific Gas and Electric Company and its parent, PG&E
Corporation, and may take additional rating action next week prior to the
January 4th meeting," Moody's said. "However, it is not anticipated at this
point that any rating action taken prior to the January 4th meeting would
result in the ratings of the utilities or their respective parents falling
below investment grade."

Southern California Edison and Pacific Gas & Electric have lost a combined $8
billion since May buying wholesale power at prices that far exceed the fixed
rates they're allowed to charge their customers.

Between one-third and one-half of that figure is offset by profits from power
plants the utilities still own, but the net losses are substantial and
mounting. Both utilities have said they soon will become unable to continue
buying power for their customers if the situation persists.

Ratings agency Standard & Poor's warned Wednesday that both utilities face
imminent default and a downgrading of their debt ratings to junk-bond status
unless California officials acted immediately to raise rates and restore the
utilities to liquidity.

On Thursday, the California Public Utilities Commission agreed rate hikes
were needed.

"We believe that retail rates in California must rise," the commission said
in a written statement. "It is our intent to maintain the utilities' access
to capital on reasonable terms."

But the commission deferred a final ruling on rates until Jan. 4, pending
hearings on the matter scheduled for next week.

Standard & Poor's wasn't immediately available to comment on the decision.

Moody's said Friday that the PUC's decision was a "necessary first step" in
restoring the utilities to financial viability. Comments by the PUC and other
officials indicated their desire to maintain the utilities' investment-grade
status, Moody's said.

But Moody's set strict terms for what must come out of the PUC's Jan. 4
meeting if the utilities are to avoid being downgraded to speculative status.

"Specifically, at that meeting, the utilities need to obtain the right to
immediately raise rates by a sizeable amount and must obtain the unquestioned
and unambiguous ability to recover past and future wholesale procurement
costs," Moody's said. "The failure by the CPUC to act in a prompt and
constructive way around these two issues could result in the utilities'
ratings being downgraded to below investment grade."

Such a downgrade would hurt the utilities' ability to fund power purchases
and day-to-day operations, Moody's said.

-By Andrew Dowell, Dow Jones Newswires; 201-938-4430;
andrew.dowell@dowjones.com

Article 2   Next Article  Previous Article   Return to Headlines

POWER POINTS: Calif Utils Won't Fail; Competition Will
By Mark Golden

12/22/2000
Dow Jones Energy Service

(Copyright (c) 2000, Dow Jones & Company, Inc.)

A Dow Jones Newswires Column <~>
NEW YORK -(Dow Jones)- Fans of the movie "Erin Brockovich" have been tempted
to fantasize about executives from California's two main investor-owned
utilities, PG&E Corp. (PCG) and Edison International (EIX), heading to
bankruptcy court.

Dream on.

True, this week the utilities didn't get either of the two things they need
to escape the astronomically expensive spot market for electricity in
California: a rate increase and long-term contracts with independent
generators at prices they can afford under new rates. With lending sources
virtually dry, both utilities have said they are about to run out of the cash
needed to continue buying electricity in the spot market.

But hearings on a rate increase are scheduled to resume next week followed by
the California Public Utilities Commission vote on Jan. 4, and long-term
contract negotiations are to resume Jan. 3.

Both negotiations are likely to succeed in keeping the companies afloat
because almost all parties would lose with the utilities under Chapter 11
protection and because the price to save the utilities isn't that high. The
rate increase decision was postponed Thursday because California Governor
Gray Davis and his CPUC are trying to give the corporations only what they
need to survive and not a penny more. If Davis succeeds - he is insisting on
an independent audit of the holding companies and all subsidiaries -
shareholders can expect to see their dividends cut.

Sorting out the finances of the $21 billion PG&E, which is the 73rd largest
U.S. company, and $10 billion Edison International must be daunting.

But here are the basics: First, the utilities have to get out of the spot
market. SCE charges residential and small commercial customers 12 cents a
kilowatt-hour, of which 6.6 cents - or $66 a megawatt-hour - goes for
electricity. The rest covers transmission and distribution, some other costs
and the utility's profit.

In the day-ahead and spot market, where SCE has been buying almost half the
power it needs, the utility has been paying about $350/MWh. Rates, obviously,
won't be tripled so that SCE can continue to buy power in the spot market.

But the company can purchase five-year supply contracts at about $78/MWh
currently, which it could do with a mere half-cent increase in rates. Since
the company is already making plenty of money on the coal-fired and nuclear
generators that it owns, a half-cent increase on all the electricity it sells
could be applied to all of its outside purchasing, which comes to an extra
$10 a megawatt-hour.

Edison International is in a more dire immediate cash situation because the
utility is two-thirds of the parent company, but Pacific Gas & Electric faces
a more difficult situation operationally. PG&E gets only 5.4 cents/KWh, or
$54/MWh, from customers for electricity, while wholesale prices in northern
California are more expensive than in southern California. Finally, PG&E has
to buy about two-thirds of the power it needs in the wholesale market,
compared to SCE's 50%, because it sold off more of its power plants, as
dictated by deregulation legislation, more quickly than SCE.

Still, PG&E could pick up five-year supply contracts at about $83/MWh. A
two-cent increase to its basic rate of 10 cents would give PG&E $30 more per
megawatt-hour - or $85/MWh - to spend on power purchases.

But a 20% increase may not be necessary. The governor's staff needs to find
out the details on the substantial long-term deals PG&E had the foresight to
sign back in October. Those deals were done at less than $55/MWh, and they
kick in Jan. 1.

The governor's staff may also look at the unexpectedly high profits from
SCE's and PG&E's nuclear power plants. The utilities have cut costs at the
plants, so instead of making just 6% return on capital, the utilities have
been getting a net gain of 30% on nuclear revenues, according to Bob
Finkelstein of The Utilities Reform Network. If the utilities say
deregulation decisions such as the rate freeze must be reexamined because
they are bankrupting the utilities, then, TURN says, the deregulation
decisions that have resulted in unexpected gains for the utilities should be
looked at, too.

Nevertheless, retail competition in California is dead for another five
years. The utilities get their modest rate increases with the insistence that
they lock up their needed supplies under long-term contracts. The contracts
will be approved by the CPUC, which means the utilities are guaranteed to be
paid for the costs even if wholesale power prices fall below $80/MWh in three
to four years, as expected.

The only way to ensure that the utilities get paid is to add a new
"non-bypassable" transition cost to customer bills for five years, which
means that even if a customer chooses an alternate power supplier, they will
still be sending money back to PG&E and Edison to pay for this year's
debacle.

The current non-bypassable charges, which are scheduled to end in March 2002,
are what has killed retail competition since 1997. Competitors can't offer
much in the way of savings, so almost nobody bothers to switch.

Electricity traders and regulators wonder why the utilities keep buying so
much power at the last minute through the Independent System Operator, which
will pay almost anything to keep the lights on. Right now, the ISO is paying
$700/MWh for power that readily could have been bought Thursday for $400/MWh.

This practice over the past six months has run up Edison's debt to a
projected $2.3 billion at the end of December and PG&E's to $4 billion.
(Edison overstates its real losses by 50%; PG&E, by 33%.)

So, for about $6 billion dollars, the utilities will get a rate increase and
four more years of protection from competition in their $20 billion business.

These guys are good.

Was all this intentional? Go ask Erin Brockovich.

-By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com

Article 3   Next Article  Previous Article   Return to Headlines

Industry Watchers Confident About Rate Increase for California Utilities

12/22/2000
Dow Jones Business News

(Copyright (c) 2000, Dow Jones & Company, Inc.)

NEW YORK -- Some observers now believe that troubled California utilities
Edison International and PG&E Corp. will get some relief at the start of the
new year after state regulators at least opened the door to electricity-rate
increases the two utilities said they need to stay in business.
Many expect the California Public Utility Commission to authorize a rate
increase at a scheduled Jan. 4 meeting. ABN Amro Inc. analyst Daniel Ford was
so optimistic he upgraded Edison shares to "buy" from "hold."

Shares of the two companies, which own the state's largest utilties, hit
52-week lows Thursday. In midday trading Friday on the New York Stock
Exchange, PG&E (PCG), which owns Pacific Gas & Electric, was up $1.06, or 6%,
to $19.31 while Edison International (EIX), parent of Southern California
Edison, was flat at $14.94.

On Thursday, the California PUC tried to reassure jittery credit markets that
they won't let the state's big utilities go broke. Still they stopped short
of ordering the kind of immediate relief utilities and their lenders want:
rate increases big enough to cover exploding wholesale power costs in the
state's deregulated energy market.

Instead, the California PUC ordered audits of utility records and scheduled
hearings for next week, needed to provide a legal basis for eliminating a
rate freeze that has protected most consumers from spiraling wholesale power
costs.

Soaring power costs in supply-short California have produced a political
crisis in the state, which four years ago led the nation in deregulating its
power industry. Wholesale electricity for delivery Sunday and Monday in the
West sold for $200 to $400 a megawatt-hour Thursday, about 10 times its
year-ago level.

Edison Internaitonal's Southern California Edison unit and PG&E's Pacific Gas
and Electric Co. have said they are more than $8 billion in debt due to the
price they must pay for electricity and the inability to pass on the higher
costs to consumers due to a state-mandated freeze. Between one-third and
one-half of that figure is offset by profits from power plants the utilities
still own in the state, but the net losses are substantial and mounting.

Both utilities have said they soon will become unable to continue buying
power for their customers if the situation persists. Earlier this week
ratings agency Standard & Poor's warned that both utilities face imminent
default and a downgrading of their debt ratings to junk-bond status unless
California officials acted immediately to raise rates and restore the
utilities to liquidity.

The utilities' deteriorating credit situation has left some generators
reluctant to supply power to California without guarantees they'll be paid.
The Department of Energy has issued an emergency order requiring power
suppliers in the West to sell uncommitted electricity to California on demand
until Dec. 28.

Consumer groups, which say the utilities are overstating their financial
woes, decried the PUC decision.

According to Mr. Ford, the utility's fate now rests in the hands of the
Standard & Poor's. He expects S&P to downgrade Edison's utility debt by "a
notch or two to keep politicians honest," but stop short of giving the
companies junk bond ratings.

Another ratings concern, Moody's Investors Service, said it doesn't expect to
reduce the debt ratings of the two utilities below investment grade status
before regulators meet on Jan. 4. Moody's said it might cut the ratings next
week to a level short of speculative status, and set strict terms for what it
would consider a favorable ruling by regulators.

Copyright (c) 2000 Dow Jones & Company, Inc.

All Rights Reserved.

Article 5   Next Article  Previous Article   Return to Headlines

Consumer Grps Oppose Calif PUC Hint Will Raise Util Rates

12/22/2000
Dow Jones Energy Service

(Copyright (c) 2000, Dow Jones & Company, Inc.)

<~> (This article was originally published Thursday) <~>
LOS ANGELES -(Dow Jones)- Two consumer advocate groups Thursday objected to a
California Public Utilities Commission order suggesting it will decide Jan. 4
to increase retail electricity rates for customers of the state's two largest
investor-owned utilities.

"We believe that retail rates in California must rise. It is our intent to
maintain the utilities' access to capital on reasonable terms," the order
says.

Spokesman Bob Finkelstein of San Francisco-based The Utility Reform Network
said such statements indicate the PUC is "kowtowing to Wall Street" rather
than protecting ratepayers.

Michael Shames, spokesman for San Diego-bas notion that rate increases are
inevitable, which isn't a position anyone in the consumer movement takes,"
Shames said.

The PUC will hold evidentiary hearings Dec. 27 and Dec. 28 on a rate
stabilization plan by Edison International (EIX) unit Southern California
Edison and PG&E Corp. (PCG) unit Pacific Gas & Electric Co.

The utilities have said they are more than $8 billion in debt due to an
inability to pass higes the PUC has something in mind to do, but they need to
claim they had a public process before doing it," Finkelstein said.

The PUC also will look into claims by the two consumer groups that the
utilities aren't as financially strapped as they say. The utilities' debt due
to "undercollections" is counterbalanced by a separate account of proceeds
from the sale of stranded assets, the consumer groups say.

-By Jessica Berthold, Dow Jones Newswires; 323-658-3872;
jessica.berthold@dowjones.RES1771

Calif Ruling On Pwr Rates Leaves Util Credit In Question

12/22/2000
Dow Jones Energy Service

(Copyright (c) 2000, Dow Jones & Company, Inc.)

(This article was originally published Thursday) <~> By Andrew Dowell <~> Of
DOW JONES NEWSWIRES <~>
NEW YORK -(Dow Jones)- California regulators opened the door Thursday to the
retail rate hikes the state's two largest utilities say they need to stay in
business.

But they failed to take decisive action needed to settle the question of
whether PG&E Corp. (PCG) unit Pacific Gas & Electric and Edison International
(EIX) unit Southern California Edison will be able to sustain the mounting
costs of buying wholesale power for their customers.

Ratings agency Standard & Poor's warned Wednesday that both utilities face
imminent default and a downgrading of their debt ratings to junk-bond status
unless California officials acted immediately to raise rates and restore the
utilities to liquidity.

On Thursday, the California Public Utilities Commission agreed rate hikes
were needed.

"We believe that retail rates in California must rise," the commission said
in a written statement. "It is our intent to maintain the utilities' access
to capital on reasonable terms."

But the commission deferred a final ruling on rates until Jan. 4, pending
hearings on the matter scheduled for next week.

The utilities welcomed the possibility of a rate hike, but expressed concerns
that the commission hadn't acted decisively enough.

"This is a significant change in the commission's approach," said PG&E Corp.
spokesman Shawn Cooper. "The real question is whether the action they are
taking today will inspire confidence in the financial community to allow us
to continue to provide power to our customers. Hopefully, the financial
community will take the commission action seriously enough to wait until Dec.
27 and 28 to make a decision on our credit rating."

Southern California Edison said in a statement that it "wished the commission
had acted more decisively."

Standard & Poor's wasn't available to comment on how the PUC's action might
affect its outlook for the utilities.

Shares in PG&E Corp. and Edison International plunged to 52-week lows
Thursday ahead of the commission's ruling, which was expected.

     Utilities' Power-Market Losses Continue To Mount

Soaring power costs in supply-short California have produced a political
crisis in the state, which four years ago led the nation in deregulating its
electric utility industry. Wholesale electricity for delivery Sunday and
Monday in the West sold for $200-$400 a megawatt-hour Thursday, about 10
times its year-ago level.

The utilities have lost a combined $8 billion since May buying wholesale
power at such prices, which far exceed the fixed rates they're allowed to
charge their customers.

Between one-third and one-half of that figure is offset by profits from power
plants the utilities still own in the state, but the net losses are
substantial and mounting. Both utilities have said they soon will become
unable to continue buying power for their customers if the situation
persists.

Southern California Edison, which said this week it won't be able to pay a
power bill that comes due Jan. 4, said in a statement Thursday that it will
soon adopt a "cash preservation" plan that could involve layoffs and cuts in
operations. Company executives were in talks with bankruptcy attorneys
Thursday to plan their next move, a Southern California Edison executive
said.

The utilities' deteriorating creditworthiness has left some generators
reluctant to supply power to California without guarantees they'll be paid.
The U.S. Department of Energy has issued an emergency order requiring power
suppliers in the West to sell uncommitted electricity to California on demand
until Dec. 28.

Consumer groups, which say the utilities are overstating their financial
woes, decried the PUC decision.

"The most disturbing part is this notion that rate increases are inevitable,"
said Michael Shames, spokesman for San Diego-based Utility Consumers Action
Network.

The utilities were seeking rate increases of up to 30%. State officials were
reluctant to accept anything beyond 10%, an amount analysts said is
insufficient.

The commission said it deferred its decision on the matter to create time for
evidentiary hearings and an independent audit to determine how much of an
increase is needed.

Consumer groups, however, were skeptical.

"It is clearly a sham procedural course that indicates the PUC has something
in mind to do, but they need to claim they had a public process before doing
it," said Bob Finkelstein, spokesman for The Utility Reform Network.

The Cambridge Energy Research Associates said Thursday that California faces
another three years of high electricity prices and possible blackouts,
because the state's piecemeal response to the power crisis has discouraged
the development of new generating capacity.

-By Andrew Dowell, Dow Jones Newswires; 201-938-4430;
andrew.dowell@dowjones.com

(Jason Leopold, Mark Golden and Jessica Berthold contributed to this article.)

Article 7   Next Article  Previous Article   Return to Headlines

SoCal Gas Inventories Low, But Interruptions Doubtful
By Pat Maio

12/22/2000
Dow Jones News Service

(Copyright (c) 2000, Dow Jones & Company, Inc.)

Of DOW JONES NEWSWIRES <~> (This story was originally published late
Thursday.) <~>
LOS ANGELES -(Dow Jones)- Unlike the almost daily threats of rolling
blackouts from the electricity industry in California, the possibility of
natural gas interruptions is unlikely even though reserves are historically
low, said a company executive of Southern California Gas Co.

SoCal Gas is the gas distribution unit of San Diego-based Sempra Energy
(SRE), and serves 5 million customers.

Reserves of natural gas stored in four underground rock formations scattered
throughout Southern California are at lower levels than what SoCal Gas
normally maintains, said Anne Smith, vice president of customer service and
marketing at SoCal Gas, in a phone interview with Dow Jones Newswires.

SoCal Gas entered its winter season on Nov. 1 with 63 billion cubic feet of
gas in storage, about 30 Bcf less than its previous heating seasons, Smith
said.

The lower reserve levels are due to power plants in California siphoning out
the gas at unprecedented levels, she said.

The plants burn strictly gas, and are trying to meet the intense electrical
demand this winter after the state's certain source of power from hydro
generators in the Pacific Northwest had evaporated.

Lack of rain in the region this year is to blame for the hydro cutbacks,
Smith said.

As well, a cold snap in November, coupled with SoCal Gas's decision to buy
less gas this past summer for reserves, didn't help matters.

Smith isn't worried about the lower levels of gas in the company's storage
areas, which can hold up to 105 Bcf.

The cold weather in November forced SoCal Gas to pull out of storage about 13
Bcf in November, leaving a total of 50 Bcf, Smith said.

The stored gas is purchased as a hedge to protect the company from
fluctuations in natural gas prices -- which this month have soared to as high
as $60 per million British thermal units on the spot market.

For the most part, SoCal Gas imports its gas from out-of-state regions in
Texas and New Mexico via pipelines owned by El Paso Natural Gas Co. (EPG) and
Enron Corp.'s (ENE) Transwestern pipeline.

El Paso and Transwestern are keeping up with demand, and report that their
pipelines are filled to the near the brim.

Over the past few weeks, Smith said it is pushing out through its system of
pipes about 3.45 Bcf to 3.5 Bcf of gas daily, to its customers.

"The way we see demand breakdown the last couple of weeks is generators using
about 1 Bcf a day, our core customers (4.8 million) about 1.5 Bcf and our
non-core" about 1 Bcf, she said. The non-core customers -- which number about
1,500 in total -- are industrial manufacturers who consume more than 250,000
therms of gas annually, Smith said.

In comparison, a home averages about 600 therms.

Smith's eyebrows have been raised by the rapid consumption of natural gas by
power plants, which use the commodity to run turbines for electrical
generation.

Historically electric power plants have consumed about 300 million to 400
million cubic feet a day of gas in SoCal Gas' service territory, she said.

"This is why we are seeing pipelines fuller than usual. There is continuing
demand by the electric generators," she said. "This is basically an increase
in demand for gas that has contributed to the national picture of why prices
(for gas) have gone up this year. Demand has outpaced production capacity,"
Smith explained.

A growing economy starved for electricity to run its Internet systems or
manufacturing businesses, have contributed to the reasons why gas prices have
soared this month, she said.

Power plant owners have passed along these higher gas costs to the utilities
where they sell their electricity.

This is partially why PG&E Corp.'s Pacific Gas & Electric Co. and Edison
International's (EIX) Southern California Edison face financial insolvency
today.

They are having to borrow billions of dollars to pay for this higher-priced
electricity as part of the state's complex deregulation plan.

The power plants are owned by out-of-state companies like AES Corp. (AES),
Calpine Corp. (CPN) and Duke Energy Corp. (DUK).

The threat of rolling blackouts has several causes.

Some power plants run around the clock -- gobbling up the natural gas at a
rapid pace. But others have temporarily been shut down because environmental
laws prohibit them from emitting certain levels of pollutants annually.

SoCal Gas has managed to keep its gas costs relatively low by buying gas for
its core customers on long-term contracts at fixed prices.

This helps to insulate the company from price spikes on gas delivered to its
system at the California and Arizona and Nevada borders.

By buying gas this way, SoCal Gas was able to set a fixed charge of $6.53 per
MMBTU for its 4.8 million core customers in the month of December. A new
price is set to be established next week for January.

"We hope it holds steady in January," said Smith. "We are doing everything we
can."

-By Pat Maio, Dow Jones Newswires; 323-658-3776;

patrick.maio@dowjones.com

Article 8   Next Article  Previous Article   Return to Headlines

S&P:Diverse Holdings Insulate Generators From Calif Risk

12/22/2000
Dow Jones Energy Service

(Copyright (c) 2000, Dow Jones & Company, Inc.)

(This article was originally published Thursday) <~>
NEW YORK -(Dow Jones)- Independent generators selling power into California
face "extremely serious counterparty credit concerns," but the threat to
their financial positions from a default by one of the state's utilities is
mitigated by their positions in other power markets, Standard & Poor's said
Thursday.

The ratings agency affirmed its double-B-plus corporate credit and senior
unsecured debt ratings for one of those generators, Calpine Corp. (CPN), and
indicated that the positions of a number of other generators were similarly
stable.

Standard & Poor's, without commenting on ratings, said those generators
include Dynegy Inc. (DYN), The Williams Cos. (WMB), Reliant Energy Inc.
(REI), Southern Energy Inc. (SOE) and NRG Energy Inc. (NRG).

"Each company has a diverse asset portfolio that mitigates exposure to any
single market, such as California," S&P said. "Standard & Poor's has
concluded that the developers with merchant exposure to the California market
have sufficient financial liquidity to sustain long-term disruptions to their
markets."

S&P also said the generators have generally incorporated conservative pricing
assumptions well below California's current market prices.

The generators' main counterparties in California - PG&E Corp. (PCG) unit
Pacific Gas & Electric and Edison International (EIX) unit Southern
California Edison - have lost a combined $8 billion buying wholesale power at
prices far higher than they are allowed to charge their customers.

Between one-third and one-half of those losses are offset by the utilities'
own profits from generating power in the state, but they are still
substantial and mounting. Both utilities have said they face a serious
liquidity crisis.

S&P said Thursday that both companies face imminent default unless California
officials immediately come up with a way to correct the imbalance between
their buying and selling price for power, and said it would likely downgrade
the utilities' debt ratings to junk-bond status even if they avoid
bankruptcy.

The California Public Utilities Commission met Thursday and opened the door
to rate hikes, but deferred a final decision to its Jan. 4 meeting.

S&P wasn't available to comment on its outlook for PG&E and SCE or the
generators following the PUC's decision.

About 1,284 net megawatts of Calpine's total 4,900 net megawatts of
generation is exposed to California counterparty risk, S&P said. Nonetheless,
only about $400 million of Calpine's approximate $2 billion revenues for 2000
have seen exposure to California's energy markets, the ratings agency said.
Calpine's receivables total only about $75 million, S&P said.

"The affirmation comes during a period of extremely serious counterparty
credit concerns for generators selling into the California power markets,"
S&P said of its decision regarding Calpine.

-By Andrew Dowell, Dow Jones Newswires; 201-938-4430;
andrew.dowell@dowjones.com

Article 9   Next Article  Previous Article   Return to Headlines

Chapter 11 Filing May Give Calif Utils Breathing Room

Of DOW JONES NEWSWIRES

12/22/2000
Dow Jones Energy Service

(Copyright (c) 2000, Dow Jones & Company, Inc.)

(This article was originally published Thursday) <~>
By Jason Leopold

LOS ANGELES (Dow Jones)--If two of California's largest utilities file for
Chapter 11 bankruptcy protection, a move they said this week was possible, it
may give the companies some breathing room to allow for a much needed
internal reorganization, according to one California bankruptcy attorney.

"What Chapter 11 ultimately does is it allows a company to reorganize," said
Larry Peitzman, an attorney with the Southern California-based law firm of
Peitzman, Glassman and Whegg. "The whole purpose is to come up with a plan to
allow the company to service and pay back creditors and shareholders as much
as possible."

While in bankruptcy, a judge can order the state to raise the utilities
retail electricity rates if that would help the company generate revenue to
pay its creditors, Peitzman said.

Peitzman, who has worked on many large company bankruptcy cases in
California, said if PG&E Corp. unit (PCG) Pacific Gas & Electric Co. and
Edison International unit (EIX) Southern California Edison file for
bankruptcy, the companies will be given an injunction by a court that will
prevent creditors from seizing the utilities assets, collecting money or
filing a lawsuit against the companies.

"Another reason to file for bankruptcy protection is the companies wouldn't
be forced to pay pre-bankruptcy debts if they have run up enormous bills,"
Peitzman said.

Executives at both PG&E and SoCal Edison said they may be forced to file for
bankruptcy protection because of a combined $8 billion debt in excess
wholesale power costs and the inability under state law to pass those costs
on to rate payers. However, between one-half and one-third of that money has
been paid into accounts held by the utilities to collect profits from the
generators they still own.

The utilities were hoping for an immediate rate hike Thursday by the state's
Public Utilities Commission, but commissioners said it would first hold
evidentiary hearings and conduct an internal audit of the companies. A rate
increase is still at least two weeks off, the commission said at its meeting.

   Utilities Can Conduct Business While In Bankruptcy

Peitzman said that while in bankruptcy, the companies could operate as a
"debtor in possession," which means the companies have the authority to
conduct business as usual without the consent of bankruptcy court. But if the
companies were to try and secure a loan, the loan would have to be approved
by a judge.

Although most Chapter 11 bankruptcy cases "can't survive," Peitzman said, the
state's two largest utilities - with millions of customers - may be an
exception.

"Inevitably they are going to continue to owe money because of the constant
shortfall they pay in (electricity costs) and what they charge their
customers," the attorney said. "But the bigger the company, the more likely
the company will survive. It will be devastating to lose such large
corporations."

If the companies fail to survive a Chapter 11 filing, the utilities' assets
would be liquidated to pay off their creditors, Peitzman said.

In a Chapter 11 filing, PG&E and SoCal Edison would put their creditors in
different classes and determine how much under the dollar each one would get
paid, Peitzman said.

"It can be as much as possible or less than 100 cents on the dollar," he
said.

In addition, any contracts that either companies held before a potential
bankruptcy filing would have to be honored regardless if the company can
fulfill its financial obligations to its counterpart, Peitzman said.

"That's one of the other benefits," he said. "It's called executory
contracts, which generally means both parties have material operations that
have yet to be performed. It may be long-term contracts and the company would
be able to enforce the other part to continue doing business. The other party
can't refuse to do business because of a stay."

Bankruptcy can last as long as a judge allows it, Peitzman said, pointing to
the Eastern Airlines bankruptcy case in the early 1980s which lasted for
years.

Neither company has indicated whether it will actually file for bankruptcy,
but SoCal Edison said in a filing with the Federal Energy Regulatory
Commission Tuesday that it may not be able to pay its January power bill if
its retail rates are not immediately raised.

-By Jason Leopold, Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com

Article 10   Next Article  Previous Article   Return to Headlines

National Desk; Section A
Trying to Shore Up Utilities, California Plans Rate Increase
By LAURA M. HOLSON

12/22/2000
The New York Times

Page Page 16, Column 1
c. 2000 New York Times Company

LOS ANGELES, Dec. 21 -- The California Public Utilities Commission said today
that a rate increase for consumers was likely and that over the next weeks it
would inspect the books of the two major utilities to decide how much was
reasonable.
The move is an effort in part to show Wall Street that California is
committed to ensuring the health of the state's utilities.

On Wednesday, the agency that rates the credit-worthiness of both the Pacific
Gas and Electric Company and Southern California Edison said that if
meaningful action was not taken by Friday, the two utilities were headed for
bankruptcy. The agency is expected to comment on the commission's action
soon.

Gov. Gray Davis has been meeting this week with utility executives and
consumer advocates to come to an agreement on the size of a rate increase.
Mr. Davis, a Democrat, is also seeking the advice of financial experts,
including Alan Greenspan, chairman of the Federal Reserve Board, whom he is
expected to meet with next week.

Some people close to those discussions suggested that 10 percent would be a
palatable rate increase, but the utilities are asking for more. The
commission will hold hearings next week, and just how much consumers will
have to pay should be decided by Jan. 4.

Four years ago, California agreed to deregulate its utilities with the hope
that competition would lower rates for households and businesses. But this
year, prices for wholesale electricity and natural gas have skyrocketed,
forcing utilities to incur costs of more than $8 billion that they cannot
pass to consumers because rates are frozen until 2002.

In recent weeks, the utilities have tried to make a case that, without rate
increases, service to consumers is threatened. John Bryson, chief executive
of Edison International, the parent company of Southern California Edison,
has taken the unusual step of warning consumers in television and newspaper
advertisements in Southern California and in Sacramento that blackouts are
inevitable unless order is imposed.

In response to the announcement by the commission today, Southern California
Edison said it expected additional cost cutting and measures to preserve cash
soon.

But not all the commissioners believed that today's announcement would be
enough to placate financial analysts and investors, many of whom buy utility
stocks because they are perceived to be less risky than, for example,
Internet stocks. Analysts have recently downgraded the stocks of both Pacific
Gas and Electric and California Edison, which are trading near 52-week lows,
over fears about California's energy woes.

''When I look at the newspapers and peruse the Internet I get the decided
impression that Wall Street has spoken,'' said Richard Bilas, a commissioner.
''I don't know if this decision goes far enough.''

Article 11   Next Article  Previous Article   Return to Headlines

Fitch Comments On California Electric Utilities

12/22/2000
Business Wire

(Copyright (c) 2000, Business Wire)

CHICAGO--(BUSINESS WIRE)--Dec. 22, 2000--Fitch views the California Public
Utilities Commission's (CPUC) interim decision to initiate proceedings to
consider raising retail rates as just one of the steps necessary to salvage
credit quality for the state's two largest utilities, Southern California
Edison (SCE) and Pacific Gas and Electric Company (Pac Gas). The CPUC is
expected to reach a decision on rate increases and recovery mechanisms during
the first week of January, at which time Fitch will assess the appropriate
ratings for these companies. The outstanding issue is whether rate increases
will sufficiently offset high wholesale power prices being paid by the
companies.
The companies' securities ratings are likely to weaken, unless 1) full
recovery is provided for the large monies paid by the utilities above
existing retail rates and 2) price stability is ensured for the regional
market. The utilities are unable to tap new credit until the rate decision is
executed. They do have, however, sufficient cash and existing credit to
support them through the decision period of the first week in January. If a
suitable rate structure is passed by the CPUC at that time, the utilities'
banks would be more likely to consider additional funding.

Liquidity will remain strained, however, to the extent that regional power
prices remain high. While Energy Secretary Richardson has ordered certain
power producers to sell into the California market, wholesale prices remain
high and are above retail rates. No additional federal action has been taken.

The CPUC's decision in early January is not expected to completely resolve
the utilities' future. Given the large costs incurred and numerous
constituent groups affected, Fitch envisions a longer-term scenario of
consecutive rate increases associated with a fundamental overhaul of
California's power market. In conjunction with the governor's active
involvement, the California legislature is evaluating potential actions to
restructure the state's power situation. Legislative action remains possible
over the next three months, and could impact debt ratings.

The Rating Watch Negative designation remains in place for Pac Gas, SCE and
its parent, Edison International. The current ratings are:

Southern California Edison:

-- First Mortgage Bonds,`A';

-- Senior Unsecured Debt,`A-`;

-- Preferred Stock,`BBB+';

-- Commercial Paper,`F2'.

Edison International:

-- Senior Unsecured Debt,`A-`;

-- Preferred Stock,`BBB+';

-- Commercial Paper,`F2'.

Pacific Gas and Electric Company:

-- First Mortgage Bonds,`A-`;

-- Preferred Stock,`BBB+'.

EIX's ratings are also on Rating Watch Negative as approximately half of its
consolidated cash flow is provided by SCE. Fitch does not rate the securities
of Pac Gas' parent holding company, PG&E.

The ratings of San Diego Gas & Electric Company (SDG&E) are not pressured to
the extent of the utilities described above. Unlike the other utilities,
SDG&E is operating under a legislatively-imposed rate ceiling for residential
and small commercial loads. Its legislation also permits a balancing account
to accumulate uncollected power procurement costs. Less liquidity pressure
also exists at SDG&E due to its strong financial fundamentals (senior
unsecured debt rated 'AA-'). Fitch has a Rating Outlook Negative designation
on SDG&E's ratings due to potential increases in leverage while power
procurement costs are high. Sempra's ratings (senior unsecured debt rated
'A') have a stable outlook due to the strong and consistent cash flow derived
from its regulated natural gas distribution subsidiary, Southern California
Gas.

Based in Rosemead, California, SCE is a wholly owned subsidiary of Edison
International. Pacific Gas and Electric Company is headquartered in San
Francisco, California. SDG&E and its parent, Sempra Energy (SRE), are based
in San Diego, California.

CONTACT: Fitch Lori R. Woodland, 312/606-2309 (Chicago) Robert Hornick,
212/908-0523 (New York)
14:31 EST DECEMBER 22, 2000

Article 12   Next Article  Previous Article   Return to Headlines

SCE Reacts to CPUC Interim Decision

12/21/2000
PR Newswire

(Copyright (c) 2000, PR Newswire)

ROSEMEAD, Calif., Dec. 21 /PRNewswire/ -- Southern California Edison reacted
to today's California Public Utilities Commission's (CPUC) interim decision
by stating that it wished the commission had acted more decisively but would
work with the commission to take definitive action to address the current
crisis by Jan. 4, 2001.
The company said it was encouraged by the language in the CPUC's interim
decision that committed the commission to: <~> " ... take expedited actions
to fulfill our statutory obligations to <~> ensure that the utilities can
provide service at just and reasonable <~> rates. In our view, that mandate
means that we must avoid continuing <~> conditions that may jeopardize the
utilities' creditworthiness and their <~> ability to continue to procure
energy on behalf of customers. Therefore, <~> we believe that retail rates in
California must begin to rise. It is our <~> intent to maintain the
utilities' access to capital on reasonable terms. <~> We recognize that this
will require that we act expeditiously to address <~> the new FERC-imposed
reality of unlimited wholesale prices."

Nevertheless, SCE underscored that any solution to the current crisis
requires prompt, meaningful and final action by the commission ending the
rate freeze, providing for the recovery of procurement costs, and increasing
rates to a level that will restore the creditworthiness of California's
investor- owned utilities.

SCE added that it anticipated announcing additional cost-reduction and
cash-preservation measures in the near term that would be necessary to
protect the company's financial integrity while maintaining customer service.

An Edison International company, Southern California Edison is one of the
nation's largest electric utilities, serving a population of more than 11
million via 4.3 million customer accounts in a 50,000-square-mile service
area within central, coastal and Southern California.

/CONTACT: Southern California Edison, Corporate Communications, 626-302-2255/
19:24 EST

Article 13   Next Article  Previous Article   Return to Headlines

Ambac Financial Group has Insured Exposure to Southern California Edison and
Pacific Gas & Electric

12/21/2000
Business Wire

(Copyright (c) 2000, Business Wire)

NEW YORK--(BUSINESS WIRE)--Dec. 21, 2000--Ambac Financial Group, Inc. (Ambac)
announced today that it has $75.1 million in insured net par exposure
outstanding to Southern California Edison.
The bonds are secured by a first mortgage or lien on substantially all of the
property and franchises now owned by Southern California Edison. Ambac has
$72.6 million in insured net par exposure outstanding to Pacific Gas &
Electric. These bonds are also secured by a first mortgage lien. Both
Southern California Edison and Pacific Gas & Electric have been warned by
Standard & Poor's that their ratings might drop below investment grade.

"The secured nature of our exposure, coupled with the essentiality of the
services the companies provide, cause us to be confident that the likelihood
of any permanent material loss is remote," said Robert J. Genader, Vice
Chairman. "On the other side of the coin, this difficult situation serves as
a strong reminder as to the value of bond insurance," he continued.

Ambac Financial Group, Inc., headquartered in New York City, is a holding
company whose affiliates provide financial guarantees and financial services
to clients in both the public and private sectors around the world. Ambac
Assurance Corporation is the principal operating subsidiary of Ambac
Financial Group, Inc. Ambac Assurance, a leading guarantor of municipal and
structured finance obligations, has earned triple-A ratings, the highest
ratings available from Moody's Investors Service, Inc., Standard & Poor's
Ratings Group, Fitch and Rating and Investment Information, Inc. Ambac
Financial Group, Inc. common stock is listed on the New York Stock Exchange
(ticker symbol ABK).

CONTACT: Ambac Financial Group, Inc., New York Brian S. Moore, 212/208-3333
bmoore@ambac.com Website:www.ambac.com
16:37 EST DECEMBER 21, 2000

Article 14   Next Article  Previous Article   Return to Headlines

Ambac Financial Group, Inc. Corrects and Replaces Previous Announcement,
BW2354, NY-AMBAC-FINANCIAL

12/21/2000
Business Wire

(Copyright (c) 2000, Business Wire)

Business Editors
NOTE: The following news release replaces and corrects the

previous Ambac Financial Group, Inc. news release, which

ran earlier Thursday on Business Wire, BW2354

(NY-AMBAC-FINANCIAL)

NEW YORK--(BUSINESS WIRE)--Dec. 21, 2000--

Ambac Financial Group has Insured Exposure to Southern

California Edison and Pacific Gas & Electric

Ambac Financial Group, Inc. (Ambac) announced today that it has $75.1 million
in insured net par exposure outstanding to Southern California Edison.

The bonds are secured by a first mortgage or lien on substantially all of the
property and franchises now owned by Southern California Edison. Ambac has
$72.6 million in insured net par exposure outstanding to Pacific Gas &
Electric. These bonds are also secured by a first mortgage lien. Both
Southern California Edison and Pacific Gas & Electric have been warned by
Standard & Poor's that their ratings might drop below investment grade.

"The secured nature of our exposure, coupled with the essentiality of the
services the companies provide, cause us to be confident that the likelihood
of any permanent material loss is remote," said Robert J. Genader, Vice
Chairman. "On the other side of the coin, this difficult situation serves as
a strong reminder as to the value of bond insurance," he continued.

Ambac Financial Group, Inc., headquartered in New York City, is a holding
company whose affiliates provide financial guarantees and financial services
to clients in both the public and private sectors around the world. Ambac
Assurance Corporation is the principal operating subsidiary of Ambac
Financial Group, Inc. Ambac Assurance, a leading guarantor of municipal and
structured finance obligations, has earned triple-A ratings, the highest
ratings available from Moody's Investors Service, Inc., Standard & Poor's
Ratings Group, Fitch and Rating and Investment Information, Inc. Ambac
Financial Group, Inc. common stock is listed on the New York Stock Exchange
(ticker symbol ABK).

CONTACT: Ambac Financial Group, Inc., New York Brian S. Moore, 212/208-3333
bmoore@ambac.com Website:www.ambac.com
16:36 EST DECEMBER 21, 2000

Article 18   Previous Article   Return to Headlines

Calif. puts IOUs' request for rate hikes on hold

12/11/2000
Megawatt Daily

(c) Copyright 2000 Pasha Publications, Inc. All Rights Reserved.

Pacific Gas and Electric (PG&E) and Southern California Edison (SoCalEd) were
disappointed Thursday in their bid to gain permission for a rate increase to
go into effect Jan. 1.
State regulators denied the utilities' request that they take immediate
action to approve the rate increases, saying that the requests are
"premature."

While regulators did not outright reject the utilities petitions, they
declined to implement the remedies requested until the cases can be reviewed
further at a later date.

The president of the Public Utilities Commission (PUC), Loretta Lynch, issued
two rulings at the commission's meeting Thursday "suspend[ing] the schedule
in the Rate Stabilization Plan applications recently filed by [PG&E and
SoCalEd]."

Both utilities filed papers separately with the PUC stating that they had
fulfilled the criteria set for ending a rate freeze imposed on them under
California's electric industry restructuring statute. The law allowed for a
transition period, during which the utilities were to pay off any "stranded
costs" related to investments in generation assets.

By keeping prices frozen at 1993 levels, legislators and utility
representatives who expected wholesale power prices would fall, thought the
measure would give the companies a chance to pay off those costs by a March
31, 2002, deadline. Instead, prices shot up and the utilities were left with
the responsibility to supply power to their customers while paying the
difference between high wholesale prices and lower retail rates.

Claiming "undercollections" totaling over $5 billion between them, the
utilities say they want the price freeze lifted and retail rates increased.
Last month, SoCalEd asked for permission for a 10% increase and PG&E for a
22% increase in its rates. ADP

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Copyright , 1999 Dow Jones & Company, Inc. All rights reserved.


Hello, members of the RTO West Stage 2 Tariff Integration  Group.
?
Attached for your entertainment and other use is the RTO  West Tariff
"working document" as we put it together today at the Tariff  Integration
Group meeting (just the sections relating to Part I - General  Service
Provisions).? The only thing?I added after the meeting was pro  forma tariff
language on load shedding and curtailment?(because I didn't  want to take the
time to incorporate such a long provision during the  meeting).
?
I am sending this out now in case you want to review it,  but next week I
will send out a more fully developed working document with other  materials
incorporated, as well as an updated "work tracking  document."
?
Please remember that our next meeting will be on  Wednesday, April 4 from
7:30 a.m. to 4:00 p.m. at the RTO West  office.
?
We have also scheduled a conference call just to talk  about ADR for Friday,
March 30 from 9:30 a.m. to 12:30 p.m. Pacific Time.?  I will send an e-mail
with call-in arrangements after I have made  them.
?
Thank you very much!
?
- Sarah
 - TIGR - March 21 Meeting Working Document Common Service Provisions.doc


Hey Greg,

I just got you email, but I do want to be in on the gift for Becky.  Count me
in for $20.  I'll bring the money down in the morning.  Where are you located
now?

Thanks,
Robin


Hi, I received your message.

Our last trade was completed on 11/5/99.

Cargill and I are in discussions regarding the line of credit/margin account
with them regarding
the details of the account.

I'll report back to you with details soon,

Thanks
David


Gracias!  I am happy to hear about the improvement.
ceh

Phillip M Love
01/25/2000 01:04 PM
To: Carrie Hollomon/HOU/ECT@ect, Susan Harrison/HOU/ECT@ECT
cc:
Subject: Elizabeth Soto

Just wanted to follow up with you guys on a conversation we had in a recent
staff meeting.  I personally have noticed a dramatic improvement in the phase
I process that Elizabeth is responsible for.  She has definitely become more
comfortable with the process and we are seeing significantly less entry
errors.  I checked with the others, and these comments seem to reflect
everyone's feelings.  Just thought I would update you guys.  Thanks.
PL


Finished review of EES state tax returns.  Made sure that OTP entries were made.  Meet with previous preparer and current preparer on cummulative build transition.

 -----Original Message-----
From: 	Reyna, Selma
Sent:	Wednesday, October 03, 2001 9:14 AM
To:	Fischer, Mary; Li, Ling; Mathew-Joy, Noveena; Ng, Mark; Nugent, Caroline; Swafford, John
Subject:	 Weekly Activity Report

Please send me your weekly report info by the end of day today.

Thanks,
selma


Shalesh,

It may be too late but file an expense report for it.

Vince

 -----Original Message-----
From: 	Ganjoo, Shalesh
Sent:	Friday, November 30, 2001 1:26 PM
To:	Kaminski, Vince J
Subject:	Question

Vince,

I know that we are short on cash but I had been taking GMAT classes, which I paid for thinking that I would be reimbursed by the program, however, that has now changed.  Is there any way that I could be reimbursed for it at this point.  Please let me know.  Thank you very much for your help.

Shalesh


Paul,

Could you set aside some time today to talk to me about the recent Kennedy Oil deal in addition to 2 other deals.  These other deals were discovered in our bid week preparations, and are causing our desk some pretty big negative Prior Month Adjustments.  So, we need to get these resolved.  The first one is the Williams / wic deal. The deal #'s for that are 121890,854562, & 1068893.  The reason for the split of this deal is b/c our books changed names.  The second deal in question which needs to be resolved a.s.a.p. is a Red Rock Energy LLC deal #133661.  This deal is being booked to Denver in Sitara, but in Tagg the risk is going to Keith Holst and Mike Grigsby.

Please look over these deals and let me know when a good time to talk will be.  Thank you!

Carole C, Frank
Enron Net Works

713.345.3960 work
713.446.9307 cell


Suzanne:
Could you please print these out for me tomorrow?  Thanks.
Carol
----- Forwarded by Carol St Clair/HOU/ECT on 05/31/2000 06:09 PM -----

	Jarrod Cyprow
	05/31/2000 03:04 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Weather Templates

I have attached the weather templates that we currently use. I have also
attached a copy of recent deals with Aquila and El Paso.

Please give me a call if you have any questions or need any additional
inormation.

Thanks for your help,

Jarrod


Hi Mr. Moore -

I did hear back from Mr. Lay.  Will September 11 at 3:00 p.m. work for you?

I look forward to hearing from you.

Rosalee

"Charles Moore" <CHMoore1@email.msn.com> on 08/23/2000 08:57:49 AM
To: <kenneth.lay@enron.com>
cc:
Subject: meeting

With regard to working out a convenient date to meet with  you, Rosalee has
suggested that your week of September 4 is pretty well  booked-up. Would
either September 11 or 13 work? After that I have to join Norm  Blake at the
Olympics in Sydney. While all of this can de done by phone, as  deputy to the
chairmen, I'm making every effort to meet (albeit briefly) with  each
Committee member. If you are willing to host a meeting in Houston, I want  to
make every effort to have Paul Newman in  attendance.


I am pleased to announce that iBuyit Payables has been activated for all organizations supported by Houston Accounts Payable.  iBuyit Payables is an innovative tool that will enable us to code and approve invoices for goods and services online.

Who is impacted?
Beginning today, all coders and approvers of invoices that were previously submitted to Houston Accounts Payable for processing and payment, will code and approve invoices through iBuyit Payables.  Invoices entered directly into SAP, will not be impacted by this process.

Note:  Beginning May 8th, any invoices with coding sheets received by Accounts Payable will be entered into iBuyit Payables and electronically routed back to the coder. The invoice will then need to be coded and approved (again) in iBuyit Payables to generate a payment.

How do I receive training?
Online system demonstrations and quick reference cards are available on the Enron intranet in the Integrated Solutions Center Document Library at <http://sap.enron.com/sap_doclib/user/file_list.asp?cabinet_id=265>.
Note:  You must use the Enron standard Microsoft Internet Explorer to view these materials.

Who do I call for help?
*  For help using the iBuyit Payables system, contact the ISC Call Center at (713) 345-4727.
*  For invoice payment status, contact the Accounts Payable Call Center at (713) 853-7127
 or toll free at (866) AP ENRON, or send an e-mail to iBuyit.payables@enron.com <mailto:iBuyit.payables@enron.com>.

Questions?
For general information about iBuyit, send an e-mail to <mailto:ibuyit@enron.com>.

<Embedded Picture (Metafile)>


Kay:

My afternoon tomorrow looks full - do you have any time before 2 PM to
discuss the TECO MOU and have a call with them? I will check their schedules
as well...


" I was a lineman for the county..."
---------------------- Forwarded by Susan J Mara/SFO/EES on 09/26/2000 02:06
PM ---------------------------

Walter Coffer@ECT
09/26/2000 03:47 PM
To: Susan J Mara/SFO/EES@EES
cc: Wayne Mays/PDX/ECT@ECT
Subject: Re: Technical Assistance for Transmission

I am a Registered Proffessional Engineer who has specialized in Electrical
Transmission and Power Plants. I have designed and built facilities in most
of the U.S. and many overseas countries. I Started as a Transmission Engineer
for Houston Lighting and Power Co, in 1950. I had previously worked as a
serviceman while enrolled in Rice University. My father was a lineman since
1917 . I had a 12 year career as a Professor  at the University of Houston. I
don" know just who is at Enron San Francisco now. Dave Parquet and Sam When
know me and perhaps there are others.

What I asked Jim Steffis about was getting a heads up from you whenever any
thing was coming up that I needed to be aware of with an RTO or ISO that
would help me to understand the rules as they change rather than be hit in
the face with them afterwards. In some cases I have been know to influence
the rules indorsed b y the Engineering Committee before they go to Executive
Commities or to other authorities.

If you have questions or want to talk you can reach me at Houston
713-345-7867 or by e-mail.


---------------------- Forwarded by David W Delainey/HOU/ECT on 11/07/2000
09:21 AM ---------------------------

	Enron North America Corp.

	From:  Katherine Brown @ ENRON                           11/07/2000 09:18 AM

To: James M Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff
Baxter/HOU/ECT@ECT, Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Rick Buy/HOU/ECT@ECT, Richard Causey/Corp/Enron@ENRON, Diomedes
Christodoulou/SA/Enron@Enron, David W Delainey/HOU/ECT@ECT, James
Derrick/Corp/Enron@ENRON, Andrew S Fastow/HOU/ECT@ECT, Peggy_Fowler@pgn.com,
Mark Frevert/NA/Enron@Enron, Ben F Glisan/HOU/ECT@ECT, Kevin Hannon/Enron
Communications@Enron Communications, David
Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stanley Horton/Corp/Enron@Enron,
Larry L Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J
Kean/NA/Enron@Enron, Mark Koenig/Corp/Enron@ENRON, Kenneth
Lay/Corp/Enron@ENRON, Mike McConnell/HOU/ECT@ECT, Rebecca
McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeffrey McMahon/HOU/ECT@ECT, J
Mark Metts/NA/Enron@Enron, Cindy Olson/Corp/Enron@ENRON, Lou L
Pai/HOU/EES@EES, Ken Rice/Enron Communications@Enron Communications, Jeffrey
Sherrick/Corp/Enron@ENRON, John Sherriff/LON/ECT@ECT, Jeff
Skilling/Corp/Enron@ENRON, Greg Whalley/HOU/ECT@ECT, Thomas E
White/HOU/EES@EES
cc: G G Garcia/NA/Enron@Enron, Marcia Manarin/SA/Enron@Enron, Susan
Skarness/HOU/ECT@ECT, Stacy Guidroz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Beena Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen K
Heathman/HOU/ECT@ECT, Sharron Westbrook/Corp/Enron@ENRON, Kay
Chapman/HOU/ECT@ECT, Molly Bobrow/NA/Enron@Enron, Rosane
Fabozzi/SA/Enron@Enron, Stephanie Harris/Corp/Enron@ENRON, Bridget
Maronge/HOU/ECT@ECT, Mary_trosper@pgn.com, Nicki Daw/NA/Enron@Enron, Inez
Dauterive/HOU/ECT@ECT, Carol Ann Brown/Enron Communications@Enron
Communications, Elaine Rodriguez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cindy
Stark/Corp/Enron@ENRON, Mary E Garza/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Maureen McVicker/NA/Enron@Enron, Joannie Williamson/Corp/Enron@ENRON, Rosalee
Fleming/Corp/Enron@ENRON, Vanessa Groscrand/Corp/Enron@ENRON, Tori L
Wells/HOU/ECT@ECT, Cathy Phillips/HOU/ECT@ECT, Loretta
Brelsford/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sue Ford/HOU/ECT@ECT, Dolores
Fisher/NA/Enron@Enron, Karen Owens/HOU/EES@EES, Dorothy Dalton/Enron
Communications@Enron Communications, Mercedes Estrada/Enron
Communications@Enron Communications, Christina Grow/Corp/Enron@ENRON, Lauren
Urquhart/LON/ECT@ECT, Sherri Sera/Corp/Enron@ENRON, Katherine
Brown/Corp/Enron@ENRON, Liz M Taylor/HOU/ECT@ECT, Judy G Smith/HOU/EES@EES,
Bobbie Power/Corp/Enron@ENRON, Suzanne Danz/Corp/Enron@ENRON
Subject: Home address request

We have been asked to put together a list of home addresses for the executive
committee to be distributed only among its members in connection with holiday
greeting card distribution.  If you have no problem being included on this
list, please forward your home address to me by return email.

Thank you,
Katherine Brown


-----Original Message-----
From: 	webmaster@cera.com@ENRON [mailto:IMCEANOTES-webmaster+40cera+2Ecom+40ENRON@ENRON.com]
Sent:	Monday, August 20, 2001 9:01 PM
To:	clients@cera.com
Subject:	Mexico's Economy: Will The Engine Stall? - CERA Conference Call Notification

Title: Mexico's Economy: Will The Engine Stall?
URL(s):

http://www20.cera.com/eprofile?u=35&m=2625;

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

TOPICS
MEXICO'S ECONOMY: WILL THE ENGINE STALL?
* Energy Reform Process and the Economy
* Slowing Economy Pulls Down Power Demand
* Natural Gas: Demand and Regulation Update

FORMAT
Our speakers will address this topic for 30 minutes, with accompanying graphics
presented on the internet, followed by an open question and answer period.

SPEAKERS
Sondra Scott, CERA Director, Latin America Energy
Lisa Pearl, CERA Associate, Latin America Energy
Jed Bailey, CERA Associate Director, Latin America Energy
Alejandro Gonzalez, CERA Associate, Latin America Energy

TIME
12:00 P.M. Eastern, Tuesday, August 28, 2001

ELIGIBILITY
Clients eligible to participate in this conference call are those who subscribe
to the CERA Mexico Energy Retainer Advisory Service.

TO ENROLL
To enroll, please return this form via fax to Mary Rice at (617) 576-8763, or
enroll via e-mail at mrice@cera.com before 12:00 P.M., Monday, August 27, 2001.

TO PARTICIPATE
To participate in a live Web conference, please call in on one of the following
numbers approximately 10-15 minutes before the call:

Within the United States:  1-800-946-0706
Outside the United States:  1-719-457-2638
Confirmation code:  414770
Title of the call:  CERA MexicoCall

To participate in the internet portion of the call (audio is by telephone), log
on to the internet approximately 15-30 minutes before the presentation to
ensure technological compatibility.

1. Point your browser to http://www.placeware.com/cc/visioncastconferencing
2. Enter the following information, then click "Enter":
* Your Name
* Meeting ID: w414770
* Meeting Key:  334293
3. Access audio for the meeting using the audio information above.

SYSTEM REQUIREMENTS AND SUGGESTIONS:
* Internet connection not reliant on the phone line you will use for the call.
* A Java-enabled browser, such as Microsoft Internet Explorer 3.02 or higher;
Netscape Navigator 3.02 or higher; or Sun Hot JAVA(tm)
* Close all desktop applications and disable your screen saver

To ensure computer compatibility, complete the Internet instructions before the
day of the call.  A message will appear telling you that your meeting is not
ready to start.  However, it also informs you about any action that you may
need to take to prepare your computer to participate.

TECHNICAL ASSISTANCE:
If you experience difficulties during the call, you may signal for technical
assistance by pressing *0 (star, zero) on your telephone keypad, once connected
to the audio portion of the conference.

For more information, please contact Mary Rice via e-mail at mrice@cera.com or
via telephone at (617) 498-9123.

A recording of this call will be available until September 28, 2001.  To access
this recording, please call 1-888-203-1112 (within the U.S.) or (719) 457-0820
(outside the U.S.).  Please use confirmation number 334293 to access the call.

**end**

E-mail Category: Conference Call Notification
CERA Knowledge Area(s): Mexico Gas & Power

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

To make changes to your cera.com profile go to:
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Forgot your username and password? Go to:
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This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
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in whole or in part, is strictly prohibited.
Terms of Use: http://www20.cera.com/tos
Questions/Comments: webmaster@cera.com
Copyright 2001. Cambridge Energy Research Associates


Einstein dies and goes to heaven. At the Pearly
> Gates, Saint
> Peter tells him, "You look like Einstein, but you
> have NO idea the
> lengths that some people will go to to sneak into
> Heaven. Can you
> prove who you really are?"
>
> Einstein ponders for a few seconds and asks, "Could
> I have a blackboard
> and some chalk?"
>
> Saint Peter snaps his fingers and a blackboard and
> chalk instantly
> appear. Einstein proceeds to describe with arcane
> mathematics and
> symbols his theory of relativity.
>
> Saint Peter is suitably impressed. "You really ARE
> Einstein!" he says.
> "Welcome to heaven!"
>
> The next to arrive is Picasso. Once again, Saint
> Peter asks for
> credentials.
>
> Picasso asks, "Mind if I use that blackboard and
> chalk?"
>
> Saint Peter says, "Go ahead."
>
> Picasso erases Einstein's equations and sketches a
> truly stunning mural
> with just a few strokes of chalk.
>
> Saint Peter claps. "Surely you are the great artist
> you claim to be!"
> he says. "Come on in!"
>
> Then Saint Peter looks up and sees George W. Bush.
> Saint Peter
> scratches his head and says, "Einstein and Picasso
> both managed to
> prove their identity. How can you prove yours?"
>
> George W. looks bewildered and says, "Who are
> Einstein and Picasso?"
>
> Saint Peter sighs and says, "Come on in, George."
>


Jesus,

Friday, April 28, works for me. I am free between 8:00 - 10:30 to meet with
Aram.
Would you like to meet him for lunch or dinner?

Vince


Elsa,

Thanks for the invitation.
I shall be glad to join you.
Please, send me the details.

Vince


----- Forwarded by Jeff Dasovich/NA/Enron on 03/02/2001 07:10 PM -----

	"Katie Kaplan" <kaplan@iepa.com>
	03/02/2001 07:08 PM

		 To: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'"
<andybrwn@earthlink.net>, "'Baker Carolyn (E-mail)'"
<cabaker@duke-energy.com>, "'Bob Escalante (E-mail)'"
<rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'"
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "'Douglas Kerner (E-mail)'"
<DKK@eslawfirm.com>, "'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan
Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jean Munoz (E-mail)'"
<jmunoz@mcnallytemple.com>, "'Jeff Dasovich (E-mail)'"
<Jeff.Dasovich@enron.com>, "'Joe Ronan (E-mail)'" <joer@calpine.com>, "'John
Larrea (E-mail)'" <john.g.larrea@williams.com>, "'John Stout (E-mail)'"
<John_H_Stout@reliantenergy.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'Katie
Kaplan (E-mail)'" <kaplan@iepa.com>, "'kent Palmerton (E-mail)'"
<kent.palmerton@williams.com>, "'Kristin Vellandi (E-mail)'"
<kvellandi@pstrategies.com>, "'Lynn Lednicky (E-mail)'" <lale@dynegy.com>,
"'Marty Wilson (E-mail)'" <mwilson@pstrategies.com>, "'McNally Ray (E-mail)'"
<rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'"
<nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, "'Pigott Jack (E-mail)'"
<jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>,
"'Rob Lamkin (E-mail)'" <rllamkin@seiworldwide.com>, "'Roger Pelote
(E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell (E-mail)'"
<stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'"
<smara@enron.com>, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com>, "'Tom Ross
(E-mail)'" <tross@mcnallytemple.com>
		 cc: "Carol H Hudson (E-mail)" <Chudson@iepa.com>, "Katie Kaplan (E-mail)"
<kaplan@iepa.com>, "Jan Smutny-Jones (E-mail)" <smutny@iepa.com>, "Steven
Kelly (E-mail)" <steven@iepa.com>, <danielle.quan-hill@mirant.com>, "'Alex
Sugaoka (E-mail)'" <alex.sugaoka@uaecorp.com>, "'Bill Carlson (E-mail)'"
<william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'"
<billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob
Gates (E-mail)'" <bob.gates@enron.com>, "'Cody Carter (E-mail)'"
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'"
<Curt.Hatton@gen.pge.com>, "'David Parquet'" <david.parquet@enron.com>,
"'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'"
<fernley.doug@epenergy.com>, "'Duane Nelsen (E-mail)'"
<dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'" <ed.tomeo@uaecorp.com>,
"'Eileen Koch (E-mail)'" <eileenk@calpine.com>, "'Eric Eisenman (E-mail)'"
<eric.eisenman@gen.pge.com>, "'Frank DeRosa (E-mail)'"
<frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)"
<frazier_blaylock@ogden-energy.com>, "'Hap Boyd (E-mail)'"
<Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com>, "'Jim
Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'"
<jgreco@caithnessenergy.com>, "'Jonathan Weisgall (E-mail)'"
<jweisgall@aol.com>, "'Kate Castillo (E-mail)'" <CCastillo@riobravo-gm.com>,
"'Kelly Lloyd (E-mail)'" <kellyl@enxco.com>, "'Ken Hoffman (E-mail)'"
<khoffman@caithnessenergy.com>, "'Kent Fickett (E-mail)'"
<kfickett@usgen.com>, "'Lynn Lednicky (E-mail)'"
<lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'"
<marty_mcfadden@ogden-energy.com>, "'Paula Soos'"
<paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'"
<rjhickok@duke-energy.com>, "Rick S. Koebbe (E-mail)"
<rskoebbe@powerworksinc.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>,
"'Steve Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'"
<steve_ponder@fpl.com>, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com>,
"'William Hall (E-mail)'" <wfhall2@duke-energy.com>
		 Subject: Public Affairs Committee

Greetings:

As many of you know, the IEP Board met last week and decided upon a new
committee structure within IEP. The Public Affairs Committee was created to
replace the Market Response Committee with Greg Blue appointed as the
interim chairperson. We would like to move to establish this new committee
as soon as possible and meet to discuss direction, specific upcoming issues,
an overall plan, budget and structure for the year. We would like to start
this process with a conference call on Monday March 5, 2001 at 3:00 p.m.
Please see call in information below. (It is not necessary for any
consultants to participate in the Monday call.)   This conference call will
be followed by an in-person meeting here at IEP on Thursday March 8, 2001 at
2:00 p.m.

If you are interested in participating on this committee please signify that
with an e-mail response to this message.

For those planning on participating on the conference call we will send out
the agenda on Monday.  During that conference call we will also set the
agenda for the Thursday in person meeting. During the Thursday meeting we
would also like to move to select a permanent chairperson.

Thank you for your attention to this important matter and I look forward to
continuing to work with each of you and make this new committee structure a
success.
I have set up a permanent Conference Call in number and Pass-code for the
Public Affairs Committee that we will use every time we have a conference
call.  We will begin using this call-in number on Monday.
The call in number for Monday's 3:00 p.m. call is is:
   1-800-486-2460
The Pass-code is:
120895

Thanks,

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499


Hi!

                  How is your day going?  Yesterday was better for me!  The
vote for who did better in the debate last night seems to be Gore.

                                            Love You!


At the request of Dwight Scott, please find attached a memorandum which
summarizes the companies and primary contacts called in conjunction with the
Project Pittsburg and Coyote Springs sales.? If you have any questions,
please do not hesitate to call me at (212) 892-7006.

Regards,

David Platt

 <<5KPJ01!.doc>>

 - 5KPJ01!.doc


You too.  Make sure you tell Paul I said Hi.

Kevin

Jennifer Lynn DeLater <jdelater@iusb.edu> on 12/13/99 11:07:54 AM
To: Kevin Ruscitti/HOU/ECT@ECT
cc:
Subject: Re: WHAT'S UP[

my address is same but here it is again...52022 spruce rd..new carlisle,
in  46552.......if I don't talk to you til after christmas have a great
holiday...jen


All ext tables should be deleted by triggers ( Enpower-PWR#401 )
    Tantra said the triggers are in TESTN, I can not see them because of my
    permissions. I can trace the problem if I get more info which is the
database
    instance and what is the error message.

      Thanks,
      Kroum

 -----Original Message-----
From:  Smith, Will F.
Sent: Tuesday, March 20, 2001 5:31 PM
To: Kroumov, Kroum
Cc: Symes, Kate; Poston, David; Davis, Pete; Luu, Duong
Subject: Deleting FSP Strips

Kroum,

Users are having difficulty deleting term strips in Deal Entry due to the
existence of deal_strip_setlmt_ext records.  Is Deal Entry supposed to delete
these records explicitly or are we supposed to have a trigger in place to
handle this?

Thanks,
Will