ISDA PRESS REPORT - MARCH 7, 2001<?xml:namespace prefix = o ns =
"urn:schemas-microsoft-com:office:office" />

_       McDonough says won't extend Basel deadline.
_       Benchmark Tipping Is Favoring Swaps Over Treasurys
_     "It brings the products to the attention..."
_       The New Forecast For Meteorologists: It's Raining Job Offers

 McDonough says won't extend Basel deadline.
Reuters - March 8, 2001

LONDON, March 8 (Reuters) - William McDonough, chairman of the Basel
Committee on Banking Supervision, said on Thursday he would not extend the
consultation period for comments on the new Basel Capital Accord.

McDonough is also president of the New York Federal Reserve Bank. He was in
London for a British Bankers Association conference on the Basel accord.

A new accord designed to make capital adequacy rules for banks more risk
sensitive was launched in January. Banks and other interested groups were
given until May 31 to respond.

Many European banks have been critical of the short consultation period, but
McDonough has previously shrugged off this criticism, arguing that banks
were involved in developing the accord and a first proposal had been made in
June 1999.

"The consultation period, which we know is short...but we are not going to
extend it," McDonough told a news conference.

The Basel Committee intends to finalise the new Capital Accord by the end of
this year so it can be implemented in national jurisdictions in 2004.

Benchmark Tipping Is Favoring Swaps Over Treasurys
Dow Jones - March 8, 2001
By Michael Mackenzie

NEW YORK -(Dow Jones)- The near collapse of hedge fund Long Term Capital
Management in 1998 triggered a massive liquidity crisis in capital markets.
It also marked the beginning of the end for the role of Treasurys as a
benchmark for pricing other debt securities and hedging for duration and
volatility, according to a study by the Bank of International Settlements.
(BIS)

While the debate over alternative benchmarks for Treasurys has bounced
between the relative merits of swaps and agency debt, swaps appear to be
winning the hearts and minds of a trading community that has learnt the
lessons of hedging risk with Treasurys, a point that the BIS seems to
support.

In its report titled "Benchmark Tipping In The Money And Bond Markets," the
BIS cited the bitter lessons in the aftermath of the LTCM meltdown as a
direct cause for the ascendancy of interest rate swaps at the expense of
Treasury securities as a benchmark for capital markets.

And though the question of swaps replacing Treasurys has been discussed
since the U.S. government announced its debt buyback program, the thrust of
the BIS report is that such a move was perhaps inevitable.

"More recently the bond market has shifted away from its reliance on
government securities and might well have continued to do so even if there
had been no reduction in the stock of outstanding US government paper,"
writes the BIS.

In fact, the BIS said the burgeoning popularity of swaps is creating a
powerful vortex within capital markets.

"Each market participant who gives up using US Treasuries to hedge private
instruments subtracts liquidity from the Treasury market and adds it to the
swap market, thus raising the incentives for other market participants to do
likewise," writes the BIS.

History On Their Side

With history acting as a guide, the BIS has observed that the benchmark "is
tipping from Treasury paper to the swap."

The BIS cited two precedents for "benchmark tipping" - when market
participants migrate to using a private instrument such as an interest rate
swap instead of a Treasury security.

The most recent event - following the 1984 flight to quality rush by
investors, which resulted in the three-month Eurodollar futures contract
eclipsing the Treasury bill futures contract in terms of volume - occurred
on the heels of the LTCM near collapse.

Investors rapidly diluted their exposure to other credit securities and
flocked to the safe haven of US Treasurys, meaning that dealers shorting
Treasurys against being long spread product including corporate bonds,
agency securities and mortgages, discovered that their hedges melted down.

The lessons learned from these traumatic episodes in capital markets have
been recently observed since December when mortgage investors primarily
turned to swaps instead of Treasurys to hedge pre-payment risks of
mortgages, in what is known as the negative convexity trade.

Estimates of swap volume by several investment banks since the mortgage
hedging began, total in the region of $50 billion in terms of receiving a
fixed rate of interest via a swap contract.

Valuation Versus Investment Benchmarks

Swaps are being increasingly used by traders as a benchmark for valuation
purposes - hedging, pricing and establishing relative value across different
asset classes.
"The swaps market is generally the province of the leveraged buyer - whether
hedge funds, dealers, or asset swappers," wrote analysts at Credit Suisse
First Boston in New York in a research note last month. "Because levered
investors determine the marginal bid for credit product, swap spreads and
not government securities have become the defacto benchmark for credit
valuation."

Swaps perform like a synthetic bond and involve the exchange of two cash
flow streams. One leg comprises a fixed rate of interest priced as a spread
over a Treasury security that is traded against a floating rate of interest
pegged to the three-month London Interbank Offered Rate (LIBOR).

Thus they are not a physical asset that can used as an investment benchmark
- acting as an index measuring excess returns - by money managers.

"Ultimately it will be up to money fund managers and not traders to
determine whether swaps will become a viable benchmark," said George Oomman,
derivatives strategist at Lehman Brothers.

Although the growing supply of debt issued by the Government Sponsored
Agencies, Fannie Mae and Freddie Mac - currently over $1 trillion - is a
real asset, the agencys remain susceptible to political pressure changing
their charters and reducing their better than AAA rating.

"The market is looking at swaps and should Treasurys continue to shrink, the
market will steadily move to swaps," said Robert Auwaerter, senior fixed
income portfolio manager at The Vanguard Group in Malvern PA.

"It brings the products to the attention..."
Reuters - March 7, 2001
By Tom Bergin

LONDON, March 7 (Reuters) - A legal wrangle between Swiss bank UBS and
Germany's Deutsche Bank AG over a credit derivative contract has highlighted
concerns about potential risks in a relatively new sector of the market.

News this week of a lawsuit filed by UBS in Britain's High Court of Justice,
comes at a time when the industry is trying to convince regulators to adopt
more favourable treatment of credit derivatives in the updated Basel Accord
on capital requirements.

"This is illustrative of the general uncertainty of how this market works,"
said Richard Boulton, credit risk manager at the Financial Services
Authority (FSA), the UK's financial services regulator.

"There is not absolute certainty that these techniques will work all the
time," he said, speaking earlier this week when news of the lawsuit, filed
in February, came to light.

Draft proposals updating the 1988 Basel Accord treat risks on credit
derivatives as greater than for more tried and tested means of hedging
credit risk such as bank guarantees. As a result they require more money to
be set aside to cover risk.

The market body, the International Swaps and Derivatives Association ( ISDA
), is pressing Basel regulators for talks about aspects of the proposals,
which it says, are unfair.

"The case won't help the image of credit derivatives. We'll have to see how
things develop but hopefully it won't have a negative influence on
regulators," said the head of credit derivatives at a European bank, who
declined to be named.

Regulators are concerned in particular about legal risk. Bank of England
deputy governor David Clementi said last month question marks existed over
whether players had conflicting views on details of credit derivative deals
they entered into and how the law courts would treat agreements such as
credit default swaps.

A default swap is an insurance-like instrument which allows an investor to
hedge exposure to the risk of an issuer defaulting on an underlying bond or
loan.

In the UBS case, the Swiss bank alleges Deutsche Bank is in default of its
obligations to pay the sum of $10 million in a default swap deal designed to
pay if U.S. building materials firm Armstrong World Industries Inc defaulted
on its debt.

According to documents filed at the High Court, UBS alleges written
confirmation of the swap contract with Deutsche mistakenly lists AWI's
parent Armstrong Holdings as the underlying issuer, not AWI.

UBS alleges the true contract related to AWI, which filed for Chapter 11
protection from creditors more than half a year after the swap deal was
transacted, and not to Armstrong Holdings, which has not filed for Chapter
11 and has not defaulted.

Both banks have declined to comment on the lawsuit but credit derivative
traders have been quick to reject any suggestion that the legal action
supports the argument for harsher regulatory treatment of default swaps.

Disagreements between counter parties over the interpretation of what
constitutes a default event have resulted in court action on a number of
occasions. In a notable case last year, involving the U.S. insurer Conseco,
counterparties disagreed over whether the insurer's restructuring of debt
constituted a default event.

The market is a relatively new industry and regulators are concerned some
aspects of it, like contract documentation, have not been fully
standardised, leaving participants open to the risk of contractual disputes.

Banks and ISDA have worked to improve documentation. ISDA is currently
trying to nail down a definitive description of debt restructuring, which
has proven a particularly tricky issue.

While some market participants fear the market may be harmed by fallout from
legal actions, other experts in the sector are more sanguine.

"The momentum of the credit derivative market is such that it will require
more than these small problems to stop the market growing," said Jonathan
Davies, head of credit derivatives at PricewaterhouseCoopers.

Thesetypes of cases made firms address the issues involved, Davies said,
adding: "It brings the products to the attention of senior management and
accelerates the evolution of the market."

The New Forecast For Meteorologists: It's Raining Job Offers
The Wall Street Journal - March 8, 2001
By Chip Cummins

Two years ago, Bradley Hoggatt was heading for an academic career in
meteorology, intent on discovering more about how hurricanes form. But just
before he started working on a doctorate, a very different opportunity blew
in.

Now Mr. Hoggatt forecasts weather for a floor full of M.B.A.s who trade
billions of dollars in weather-sensitive energy commodities such as natural
gas and electricity for Aquila Inc., the trading subsidiary of a big Midwest
utility.

With no business background himself, Mr. Hoggatt is also trading complex
financial contracts based on his predictions. "I'm putting my money where my
mouth is," says the tall, square-shouldered 28-year-old.

Weathermen and women have become a hot commodity in the exploding
energy-trading business. While off-target forecasts on television may
frustrate parents and schools and embarrass politicians, as they did this
week on the East Coast, they can lose bundles for electricity and
natural-gas traders. So as trading has boomed, so has demand for trained
meteorologists, a profession that traditionally hasn't paid all that well
and is often the butt of jokes.

From Wall Street to Houston's Louisiana Street, where many energy companies
have set up shop, recent graduates are earning twice what they would earn at
the National Weather Service or in academia. "The appetite for weather is
insatiable," says James L. Gooding, director of meteorology at Duke Energy
Corp. A former NASA scientist, Dr. Gooding will be adding a fourth
forecaster to his Houston team in the next year.

Enron Corp., an energy-trading giant based in Houston, has more than doubled
its staff of weather forecasters to nine in the past three years, plucking
talent from places like the Weather Channel. Williams Cos., a Tulsa, Okla.,
competitor, is endowing university fellowships to lure meteorology students.
And since 1999, Aquila, which is owned by UtiliCorp United Inc., of Kansas
City, Mo., has hired two other meteorologists from Mr. Hoggatt's alma mater,
the University of Wisconsin, plus another scientist with a Ph.D. in
climatology.

That hiring paid off a bit during this week's winter storm in the Northeast.
While many on the East Coast were getting miscues from TV weathermen on a
pending, possibly historic blizzard that fizzled in New York and other
cities, traders at Aquila simply looked to Mr. Hoggatt.

Last Friday, Scott Macrorie, an electricity trader for the Mid-Atlantic
region at Aquila, stopped by to see how the storm was progressing. Mr.
Hoggatt's team told him temperatures in his region of interest would be
lower because of the storm, though the snowfall forecast on TV seemed a
little high. Sure enough, temperatures fell and snowfall in many cities was
less than predicted, lifting electricity prices and making Mr. Macrorie a
profit that he says was in the tens of thousands of dollars.

About 500 university students in the U.S. graduate each year with bachelor's
degrees in meteorology, according to the American Meteorological Society. An
additional 300 or so graduate with masters degrees or doctorates. Until just
a few years ago, those graduates didn't typically have many options: TV for
those who had the blow-dried look, back-office jobs with the government or a
handful of private consultants for those who didn't. Research was an option.
And some airlines and utilities kept a few meteorologists on staff to help
position airplanes or power-line repair trucks during storms.

Now, deep-pocketed trading companies are offering many meteorologists with
graduate degrees salaries ranging from $60,000 to $90,000. Performance and
trading bonuses can double or even triple the figure. That compares with the
roughly $33,000 the National Weather Service pays a junior forecaster with a
graduate degree.

"It's a bit unusual for meteorologists to have the prospect of lucrative
employment after graduation," says John Nielsen-Gammon, a professor of
atmospheric sciences at Texas A&M University. "This is a bit of a switch."

So far, there has been no dearth of meteorological talent available, partly
because the National Weather Service wrapped up a big expansion project in
the mid-1990s and slowed hiring. It hires only to replace people who leave,
about 30 to 50 meteorologists a year.

And the high-pressure world of billion-dollar commodity bets isn't for
everyone. When Carl Altoe graduated from Penn State, one of the nation's top
meteorology programs, he got a heavy sales pitch from Enron. "It's quite an
impressive place," he says of Enron's trading floor, but he wasn't sure
forecasting skills alone would be enough to make the grade. "I would be
afraid that if money wasn't made in a hurry, I'd be tossed," says Mr. Altoe,
who accepted a position with the National Weather Service in Marquette,
Mich.

For others, having forecasts count puts a new thrill in the old art. After
two years as a manager at the Weather Channel's Latin American division in
Atlanta, Jose Marquez posted his resume on an Internet job site run by the
American Meteorological Society. Enron called.

"Have you heard about Enron?" Mr. Marquez remembers being asked. "And I
said, honestly, `No.'"

During a visit, Mr. Marquez, a 33-year-old Navy-trained meteorologist, found
Enron's trading floor exhilarating. Enron courted Mr. Marquez heavily,
tracking him down three times during his Christmas vacation in Puerto Rico.
Mr. Marquez decided the sprawling trading floor was just the sort of active
work place he was looking for. Also, he'd be getting a 10% to 15% boost over
his Weather Channel salary, before potential bonuses from Enron.

"I'm getting more money than I would anywhere else," he says.

Weather has long affected prices of everything from grain at Chicago's early
commodity markets to the stocks of retail companies on Wall Street. Jon
Davis, a meteorologist for Salomon Smith Barney in Chicago, started
forecasting the weather for agriculture traders back in 1985.

But volatile energy prices have raised the stakes for forecasters who are
able to gauge air-conditioning use in the summer or natural-gas demand
during the winter heating season. Meanwhile, all sorts of companies are
turning to energy traders and Wall Street for " weather derivatives ,"
complex contracts used to hedge financial risks associated with the weather.
"With every passing year, you do more energy and more energy," Mr. Davis
says.

Despite big advances in data collection and modeling, betting millions of
dollars on weather forecasts can still be tricky business. Short-term
forecasts are pretty good. Predicting weather two weeks from now is chancy.
Most meteorologists get their data from the government, particularly the
National Weather Service. Many then tweak it with their own interpretations
or forecasting models.

Disappointed last year by poor long-term forecasts from 11 private
consultants, Aquila has a contest offering $100,000 to the meteorologist or
team that can best predict temperatures in 13 major U.S. cities over the
course of a year. "I call it the forecast bakeoff," says Mr. Hoggatt.

The high stakes also mean more pressure on forecasters. WSI Corp., a
Billerica, Mass., weather-forecasting firm, started an energy service last
year, and Jeffrey A. Shorter, a WSI vice president, says energy clients can
be less forgiving than his other clients in TV and aviation, especially when
the forecasts are wrong. But, he adds, "presumably, more often than not,
we're right."

**End of ISDA Press Report for March 8, 2001.**

THE ISDA PRESS REPORT IS PREPARED FOR THE LIMITED USE OF ISDA STAFF, ISDA'S
BOARD OF DIRECTORS AND SPECIFIED CONSULTANTS TO ISDA.  THIS PRESS REPORT IS
NOT FOR DISTRIBUTION (EITHER WITHIN OR WITHOUT AN ORGANIZATION), AND ISDA IS
NOT RESPONSIBLE FOR ANY USE TO WHICH THESE MATERIALS MAY BE PUT.

Scott Marra
Administrator for Policy & Media Relations
ISDA
600 Fifth Avenue
Rockefeller Center - 27th floor
New York, NY 10020
Phone: (212) 332-2578
Fax: (212) 332-1212
Email: smarra@isda.org

 - Ivy.gif


Jay and Matt,

We should get together and build a gas consumption model for the new
generation in the west.  We should identify the delivery point and then
continue to monitor their status.  This will provide us with more information
behind our Socal/Rockies spread.

Thanks,

Grigsby
---------------------- Forwarded by Mike Grigsby/HOU/ECT on 07/11/2000 05:49
PM ---------------------------

	From:  Robert Badeer                           07/11/2000 07:32 AM

To: Mike Grigsby/HOU/ECT@ECT
cc:
Subject: new build


Sara, sorry I am clearly loosing it already.  My meeting is not until
tomorrow.  So, 10:00 is fine.

Angela D. Davis
Enron North America Corp.
1400 Smith, Suite 3842
Houston, Texas 77002
Tele. (713) 345-8347
Fax:  (713) 646-3393
e-mail:  angela.davis@enron.com


Status of these?  These really fall into Louis area.  Is he aware of them?

 -----Original Message-----
From: 	Kiani-Aslani, John
Sent:	Wednesday, May 30, 2001 6:49 PM
To:	Weldon, V. Charles
Cc:	Breese, Mark
Subject:	Gas Swap Pricing

Charlie,

Please find attached two files that contain information for gas swap pricing for the following deals:

1.	NICOR
2.	Anadarko (Carthage)

We have put notes at the bottom of each page to help clarify our request.  A notional price is fine for right now, let me know if you have any questions.

Thanks for your help,

John


This deal is ok for now because it only has a volume in for January.  If the
trader changes the volume for the out months, we will need to have it in
tagg.  thanks.
PL


Kay Mann@ENRON
	03/13/2001 08:37 AM

		 To: Renee Alfaro/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brian D
Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc:
		 Subject: Blue Dog change orders

Hi there,

Could one of you send me one email with the final (well, we hope) forms of
both of the two change orders we are working on for the BD turbine sets? I
want to make sure I'm looking at the right stuff.

Thanks,

Kay


SYSTEM WARNING CANCELLATION [200000204]

Effective 08/24/2000 at 19:00 the California Independent System Operator
has terminated the "Warning" of the Electrical Emergency Plan.

The "Warning"  has been in effect since Thu Aug 24 11:00:00 2000 PDT.

This message is from Market Operations  at the California ISO.

This notice cancels notice 200000203

Notice issued at: 08/24/2000 18:51


Kay:

Here's another copy...

-----Original Message-----
From: Jacoby, Ben
Sent: Monday, June 04, 2001 11:49 AM
To: "Douglas Turner" <dcturner@tecoenergy.com>@ENRON; Mitro, Fred
Cc: Michael Carlson; Becky Alex; Mitro, Fred; Mann, Kay
Subject: RE: Draft LOI

Attached are clean and marked versions of our comments to the LOI. We should
have the referenced Tolling Agreement term sheet to you by Wednesday.

Please let me know at your earliest convenience when you will be prepared to
discuss our comments. Thanks much.

Regards,

Ben

-----Original Message-----
From: "Douglas Turner" <dcturner@tecoenergy.com>@ENRON
Sent: Thu 5/24/2001 2:40 PM
To: Jacoby, Ben; Mitro, Fred
Cc: Michael Carlson; Becky Alex
Subject: Draft LOI

Gentlemen,

At the request of Becky Alex, attached for your review is a draft of a Letter
of Intent relating to the Midway project located in Central Florida.   Please
respond with questions or comments to Becky at 813-228-1107.

Cordially,
Doug Turner

 - Enron LOI.v1.522.doc <<Enron LOI.v1.522.doc>>


Notice to Members No. 01-194
June 7, 2001

CORRECTS AND SUPPLEMENTS PREVIOUS NOTICE TO MEMBERS NO. 01-191

All amended rules can be found on the New York Mercantile Exchange, Inc.
website @ http://www.nymex.com/refernce/notices/2001/ntm_191r.htm.

To:
All NYMEX Division Members
All NYMEX Division Clearing Members
All NYMEX Division Member Firms

From:
Neal Wolkoff, Executive Vice President

Re:
-- Amendments to NYMEX Division Position Limit and Reporting Rules
-- Amendments to Large Trader Reporting Requirements for Light Sweet
        Crude Oil and the Addition of Brent Crude Oil

The Board of Directors of the New York Mercantile Exchange, Inc. has approved
various amendments to NYMEX Division Chapter 9 rules which, in general, move
away from hard position limits "in any one month and all months combined" to
position accountability standards. These amendments shall be effective as of
the open of trading on Friday, June 15, 2001.

The amendments to any one month, all months combined and option quadrants
limits as cited in Rule 9.26, position accountability will provide for the
ability for any participant to exceed the prescribed levels. (As a note: the
levels advocated for any one month and all months combined are the levels
currently in place for all months combined under the existing rule structure.
The currently defined any one month limits, which are lower than the all
months limits, are being deleted. Additionally, the gross side of market
rules are deleted.) Any market participant exceeding the defined position
accountability levels will be subject to being contacted by the Exchange when
the Exchange deems it necessary, and will be required to supply relevant
information as to its position and the status of its account. If the
participant refuses to do so, or if the Exchange believes the position, by
its size, is a threat to the orderly operation of the market, a market
participant can be direct!
ed!
 either to not increase or to decrease its position.

The existing current delivery month on expiration limits as defined in
existing Rule 9.27 will be unchanged and subject to hedge/swap exemptions as
they are today. The only caveat to this is that certain cash-settled enymexsm
contracts will operate with some level of position accountability in the
current delivery month.

Further, the large trader reporting levels cited in Rule 9.34 for Light Sweet
Crude Oil futures has been amended from 300 to 350 contracts to coincide with
existing CFTC standards. The soon to be traded Brent Crude Oil futures'
reporting level has been added at the same level of 350 contracts.

Lastly, the any one month/all months position accountability level for the
Brent Crude Oil contract of 20,000 has been added.

All amended rules can be found on the New York Mercantile Exchange, Inc.
website @ http://www.nymex.com/refernce/notices/2001/ntm_191r.htm.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(01-194)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


Bill, Just a short note to let you know whats going on at Bakersfield.  I
have spoken to the agency inspector about one of the NOV issues and have been
told that EOTT will definately receive a an NOV and fine for failure to
conduct the emissions testing on a heater that apparently should have been
tested approx. 6 months ago.  With repsect to the other NOV issue, Rick
Suderman had a testing company in to perform emissions testing on another
heater which was required to be tested by today.  As the testing contractor
began his testing, an 02 issue developed with the equipment the testing
company was using and a miscommunication on the part of the testing
contractor was directed to Rick.  As a result,  the  the inspector observed
elevated CO readings from the heater that  Rick had made adjustments in the
heater set points (based upon recommendations from the contractor) causing
the elevated CO readings to result.  The inspector stated that the facility
would receive another NOV for this exceedance.   In any event this isssue was
NOT Rick's fault and was due to some bad communication on the part of the
contractor.  We have sent the testing company home and will be bringing in
another testing company (AEROS) on thursday.  This is the contractor who has
done the majority of the previous emissions testing for the facility to
complete the heater testing and substantiate the innaccuracy of the first
testing company's data.  With this new data, we shold be able to demonstrate
inaccuracy in the first testing company's QA/QC.

It should also be mentioned that we have identified other environmental
issues which we should discuss at your convenience.  Butch and I will have
completed the permit compliance investigataion and be available for
discussions on friday.

William Kendrick
01/10/2001 07:53 AM

To: Rich Jolly/ET&S/Enron, Edward Attanasio/Remote/Eott@Eott
cc: John Shafer/OTS/Enron, Larry Campbell/ET&S/Enron

Subject: Re: Environmental -- NCL

Rich/Ed---

Larry Campbell is going to Bakersfield this  week to address the situation.
I have asked him to put together a compliance calendar for the Bakersfield
facility outlining regulatory deadlines required by the permits and
regulations.  He has discussed the testing due on one of the heaters this
week with the regulators and there does not appear to be an issue.  It is my
understanding that the heater will be performed this week.  Larry will look
into the best course of action necessary to address the engine testing that
was apparently missed last year.  He will be discussing the matter with
Gary.   Please call with any questions.

Thanks, Bill
713.646.7644

Rich Jolly
01/09/2001 05:24 PM
To: Edward_Attanasio@eott.com
cc: Molly_Sample@eott.com, lsoldano@enron.com, Bob_Jacobs@eott.com,
Rjolly@enron.com, Rick_Suderman@eott.com, Larry Campbell/ET&S/Enron@Enron,
William Kendrick/OTS/Enron@ENRON

Subject: Re: Environmental -- NCL

Ed thanks for the information. Bill Kendricks from Houston has asked Larry
Campbell to work with Rick on getting this resolved. I talked with Larry
today and he was going to give Rick a call.

Rich

Edward_Attanasio@eott.com on 02/23/2000 12:53:54 PM
To: Molly_Sample@eott.com, lsoldano@enron.com
cc: Bob_Jacobs@eott.com, Rjolly@enron.com, Rick_Suderman@eott.com

Subject: Environmental -- NCL

     I just spoke with Gary Fuller who informed me that we have been
notified by the Air District that we are getting an NOV for missing a
source test in December (apparently on one of our IC engines.)  Now, while
this is not the end of the world, we put ourselves at potential risk if we
do not follow up properly -- especially given the history of this plant
with this Air District (that is, the Koch troubles that resulted in a
criminal investigation from some relatively minor problems, really.)

     In fact, I believe that if we act promptly and conduct the source test
now we stand a very good chance of having this NOV rescinded.  But we must
act.  I am please to see that we still have Gary on the job, and I hope he
can follow through with this.  I have asked him to do so, and also to
handle reporting of the soil contamination at NCL that we have all
discussed at length.  I have done so because delay works against us on both
of these issues.  Gary, though, is somewhat reluctant to act without
instruction directly from ETS (which is understandable, given that ETS runs
things.)   He seems to feel that he should be getting direction from Cutty
Cunningham, although I must confess I don't know enough yet about the
structure of ETS to know why this is the case.

     In any event, I asked Gary to talk to whomever he needed to, but these
matters needed to be handled in the short run.  Obviously, we will discuss
next week what is to be done for the long run.  In the meantime, I would
greatly appreciate whatever you folks can do to help grease the wheels to
make Gary feel he has authority to act to get these more immediate problems
addressed.  Thanks a bunch.


Today, I worked with Robin Gibbs and Jeff Alexander on an Enron pleading in
the captioned case.  I asked if we had considered asking FERC Staff to file a
"friend of the court" brief detailing how FERC has "occupied the field" of
wholesale rate regulation.  Was this or should this be considered?


Friday is good for lunch.  12:00 @ your choice.

 -----Original Message-----
From: 	"Nachawati, Nabil, M" <nnachawa@Central.UH.EDU>@ENRON [mailto:IMCEANOTES-+22Nachawati+2C+20Nabil+2C+20M+22+20+3Cnnachawa+40Central+2EUH+2EEDU+3E+40ENRON@ENRON.com]
Sent:	Sunday, August 12, 2001 9:15 PM
To:	Perlingiere, Debra
Subject:	RE: Lunch

 Dear Debra,

I want you to know that I am truly sorry for not meeting you for lunch. I
feel so bad. I am in Dallas right now visiting family. I was interviewing
for jobs in Atlanta last weekend. Anyway, I will be back in town on Thursday
of this week. Friday lunch would work great for me, just let me know. I want
you to fill me in on how you have been.

Your law clerk,

Majed Nachawati
-----Original Message-----
From: Perlingiere, Debra
To: nnachawa@Central.UH.EDU
Sent: 8/8/01 4:44 PM
Subject: Lunch

 Mr. Nemec and I were wondering when you might make a time available for
us in your impressive schedule for LUNCH !!!!!!!!!!!!!!  Any day but
Thursday  next week is good for me. Take care, let us know.

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

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


Barry,  Harlan,

Attached is a letter authorizing City National Bank to cancel the Letter of
Credit issued to Enron Power Marketing, Inc on behalf of Southern
California Edison Company.  Please review and have the authorized person
sign the letter releasing the LoC.

(See attached file: Enron LOC Cancellation.doc)

Thanks...

Benny Wu
Southern California Edison Company
Phone 626-302-3230
Fax 626-302-3254


---------------------- Forwarded by Mary Hain/HOU/ECT on 03/14/2001 02:30 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Jackie Gallagher" <JGallagher@epsa.org>
03/14/2001 02:02 PM

To: <bhawkin@enron.com>, <bmerola@enron.com>, <christi.l.nicolay@enron.com>,
<donna.fulton@enron.com>, <james.steffes@enron.com>,
<janelle.scheuer@enron.com>, <jeff_brown@enron.com>, <jhartso@enron.com>,
<Mary.Hain@enron.com>, <rshapiro@enron.com>, <sarah.novosel@enron.com>,
<tom.hoatson@enron.com>
cc:
Subject: FERC Show Cause Order

FERC has released a show cause Order directing Williams and AES to show why
they should not be found to have violated the Federal Power Act based on
certain outages at RMR plants in April and May of 2000.
The Commission's press release is available at:
http://www.ferc.fed.us/news1/pressreleases/prsrls1.htm.
The Order is available at:
http://cips.ferc.fed.us/Q/CIPS/MISC/M_MS/IN01-3.000.TXT.


Steve & Rick,

Below are the summaries that I have prepared for the Asian countries (Jane
Wilson have already sent you a summary on  India).  Hope they are useful and
I welcome any comments or questions.

Best regards,

Xi Xi


Hi John,

I'll be glad to consider using Aaron.  Let me take a look at the agreements
first, before we commit.  Did Bob Carter work on these agreements?  He might
have copies, and he won't charge us for them.  At least I don't think he will.

Thanks for your understanding and patience this week.

Kay

John Moore
03/23/2001 12:15 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Re: Coal stuff

I hope everything is going OK.

With Kathleen's help and Jeff Hodge's review the CA went out on Wednesday via
email to BPUB.  Mitch and I are reviewing the TEX/MEX agreements to determine
an appropriate commercial structure with the intent of preserving as much of
the "legalese" in the original agreements (i.e., the development agreement
and the participation agreement) as possible.  Our major concern is to keep
this off Balance Sheet.

 I'll call B &P to see if they have electronic versions.  Would you consider
having Aaron Roffwarg of B & P work on this agreement, he was previously
involved in the drafting of the agreements and he knows all of the players
and their habits.

JMoore

Kay Mann
03/23/2001 11:39 AM
To: John Moore/Corp/Enron@Enron
cc:

Subject: Coal stuff

I'm still out of town, but now I have email access.  Did your CA get taken
care of?

You mentioned that you feel like we can use Tex-Mex as a go-by.  Do you have
electronic copies of the development agreement?

Thanks,

Kay


I'm looking at it right now.  Could you please email it to me?

Thanks,

Kay


Meg - Unfortunately, I am scheduled to be out on Monday, but I will send someone from my group.  Do you have an agenda?  Let me know if you need anything in advance.  You can also call me at home this weekend 281-360-7601, or leave me voicemail at work.  Thanks.  MEK

-----Original Message-----
From: Sheryl.D.Lara@dynegy.com
Sent: Fri 11/16/2001 3:44 PM
To: Kean, Steven J.; Koenig, Mark; Palmer, Mark A. (PR); John.Sousa@dynegy.com; Meg.Nollen@dynegy.com; Keith.Fullenweider@dynegy.com; dafi@dynegy.com; Arthur.J.Shannon@dynegy.com
Cc: McVicker, Maureen; Hiltabrand, Leslie; Kim.Budzik@dynegy.com; Sandra.K.Monclova@dynegy.com; Sandra.S.Martinez@dynegy.com
Subject: Revised Meeting Notice - Time Change 2-3:00 P.M.

**  REVISED MEETING NOTICE  **
Please be advised that there will be a meeting held on Monday, November 19,
2001 from 2:00-3:00 p.m. at the Dynegy offices on the 67th floor in the
Boardroom.  The topic of discussion will be "Near & Long-Term Financial
Commitments".  The meeting participants are as follows:
                            Mark Palmer - Enron
                            Mark Koenig - Enron
                            Steve Kean - Enron
                        Keith Fullenweider - Dynegy
                            Meg Nollen - Dynegy
                          Debbie Fiorito - Dynegy
                           Art Shannon - Dynegy
                            John Sousa - Dynegy

If you will be unable to attend this meeting, please contact Sheryl Lara at
713-767-6273.  Many thanks!

Sheryl D. Lara
Assistant to Meg Nollen
Dynegy, Inc. - Investor Relations
1000 Louisiana, Suite 6700
Houston, Texas  77002
Ph: 713-767-6273
Fax: 713-767-8288


The discussion of free trade I circulated was short of discussion of some
hot topics these days.  Here is a continuation on environmental and labor
rights.

Environmental issues

Pat: The US had laws only permitting imported products if caught in ways
friendly to sea turtles and dolphins.  The WTO principle of regulating
products but not production processes ruled these laws out of bounds.

Chris: Some countries compete for companies to locate production facilities
by having lower environmental standards.  Thus, free trade puts poor
nations in competition with each other, halting them from regulating
environmental standards.  Instead, we see a "race to the bottom" where
environmental regulations are lax.

Pat: But a poor nation should be able to choose its own level of
regulations.  If lower regulations produces more jobs, why shouldn't a poor
nation be free to pick laxer regulation and less starvation?

Chris: Well, I am unsure of your definition of "nation."  In many poor
nations, the people who suffer from pollution are not informed of the
hazards and are not very politically powerful.  Instead, they are just poor
people who live downstream from a horrific factory or mine.

Pat: I acknowledge some regimes are undemocratic.  I just am unsure if
restricting trade with them will help the poor people you and I both care
about.

Chris: Speaking of undemocratic, the same "race to the bottom" shows up in
labor rights.  Nations with effective laws restricting child labor are at a
disadvantage to competitors where such laws are not enforced.  Similarly,
nations win the game of attracting foreign investors if they shoot union
leaders and otherwise restrict employees' rights.  Moreover, slave labor
remains present in some nations with various forms of indentured servitude.
 The WTO makes it illegal to sanction nations based on these horrific
practices.

Pat: Like you I oppose 10 years old in dangerous factories, slavery, and
shooting or imprisoning union leaders.  I just do not think trade barriers
are a very effective solution to most of these problems.  Children do not
work because their parents are mean, but because they are poor.
Restricting their work makes no sense and does not help them. If rich
nations want children in poor nations to go to school, we should be
subsidizing meals and tuition for schools in poor parts of the world, not
restricting poor families' already limited options.

Chris: So would you permit ANY deviations from widely agreed-on labor
standards.  According to your logic we should have have permitted trade
with Nazi Germany, just as you would encourage trade with China in spite of
its horrific human rights abuses.

Pat: We again agree on the horror of China and other nations' abuse of
human rights.  At the same time, WTO membership and a rising standard of
living seem the most likely ways to help democratic reformers in China.  I
remain unsure why we should undertake actions that hurt this opening
process, even if it assuages our conscience.

LINKS:

Here is a short video clip of Laura Tyson and others discussing the WTO
 http://www.cnn.com/video/world/1999/11/30/rd.wto.101.reut.rm28.html

For more critiques, read the speech by the head of the AFL-CIO at
http://www.aflcio.org/publ/speech99/sp1119.htm

As you'd expect, a more favorable view is from the National Assoc. of
Manfuacturers,
http://www.nam.org/Revolve/WTO.html
"Clearing the Air:  The WTO and America's Health, Safety and Environment"

yahoo has a nice listing:  http://fullcoverage.yahoo.com/fc/Business/Trade/

David I. Levine                 Associate professor
Haas School of Business    ph: 510/642-1697
University of California    fax: 510/643-1420
Berkeley CA  94720-1900                            email:
levine@haas.berkeley.edu
http://web.haas.berkeley.edu/www/levine/


Will you please set up the 100% flow SJ product?  I would like the title to
be just like the current EP product -  no mention of 100% flow on the title.
I would like to avoid making this a separate index posting.  Let's make this
available to the entire market.

Thanks,
Mike


The plan was to hit the issue twice -- once in the short format of Ebiz and
at greater length in the longer format of the October issue of Enron
Business.  Please let Paul know.
---------------------- Forwarded by Steven J Kean/HOU/EES on 08/14/2000 08:46
AM ---------------------------

Elizabeth Linnell
08/11/2000 11:54 AM
To: Elizabeth Labanowski/EPSC/HOU/ECT@ECT
cc: Karen Denne/Corp/Enron@ENRON@ECT, Mark Palmer/Corp/Enron@ENRON@ECT,
Steven J Kean/HOU/EES@EES
Subject: Re: Politics and Enron

Just as a matter of interest, I looked up this guy and he's in London, not in
the US.

From: Elizabeth Labanowski@ECT on 08/11/2000 11:50 AM
To: Karen Denne/Corp/Enron@ENRON
cc: Mark Palmer/Corp/Enron@ENRON, Steven J Kean/HOU/EES@EES@ENRON, Elizabeth
Linnell/HOU/EES@EES
Subject: Re: Politics and Enron

I understand that there is a longer, more involved piece coming out - don't
know where exactly.  We need to respond to this guy with that info.

	Karen Denne@ENRON
	08/11/2000 11:32 AM

		 To: Steven J Kean/HOU/EES@EES, Elizabeth Labanowski/EPSC/HOU/ECT@ECT, Mark
Palmer/Corp/Enron@ENRON
		 cc:
		 Subject: Politics and Enron

FYI -- seems that employees want more info....
---------------------- Forwarded by Karen Denne/Corp/Enron on 08/11/2000
11:31 AM ---------------------------

Sarah Palmer@ECT
08/11/2000 11:26 AM
To: Karen Denne/Corp/Enron@ENRON, Jeannie Mandelker/HOU/ECT@ECT, Mary
Clark/Corp/Enron@ENRON, Erin A Rice/LON/ECT@ECT
cc:

Subject: Politics and Enron

Not so good PAC feedback...
---------------------- Forwarded by Sarah Palmer/HOU/ECT on 08/11/2000 11:24
AM ---------------------------

Paul Sharp@ECT
08/11/2000 03:35 AM
To: ebiz@enron.com
cc:

Subject: politics and Enron

"Everything You've Wanted to Know About Enron and the Presidential Campaign
But Were Afraid to Ask" ?????

Far from everything!

Your "Where the money is spent" section tells us nothing about specific
contributions to the Election 2000 campaigns, nor Soft money corporate
donations to things such as party conferences.

Scared of alienating employees?


Ramona, "total cost commitment" in TW's tariff generally means total revenue
to be received from a transaction, taking
into account reservation rate, the term of the commitment, and the commodity
revenues associated with any minimum
throughput commitment the shipper may make.  Obviously some of these items
aren't applicable in the PNR context; the
language must have just been lifted from another part of the tariff.  For PNR
we would just multiply rate times number
of days the service will be used.  Practically speaking, I'm not sure how
this is done if you have an interruptible service with
no throughput commitment, but I think you should just be able to use the
number of days in the contract term.

If there's a tie (i.e. more than one shipper willing to pay at or above max
rate), we just allocate the capacity pro-rata.  We
do not have to offer a right to match.

Ramona Betancourt
06/19/2000 03:52 PM
To: Susan Scott/ET&S/Enron@ENRON, TK Lohman/ET&S/Enron@ENRON, Michael
Bodnar/ET&S/Enron@ENRON
cc:

Subject: TW Tariff

Susan,

I am working with TK on automating TW's PNR allocation process & I was
reviewing the tariff rules for TW PNR allocation of service on sheet 37e.
Section 8.

Can you interpret the meaning of "total cost commitment"? We state that
buyers willing to pay more than the maximum tariff rate will be considered to
be paying the maximm rate and we will pro-rate amoung buyers willing to pay
the same total cost commitment. Does this mean we must offer a right to
match? What does the term "total cost commitment mean?

Thanks Ramona


Jeff,
This is really a grid reliability program directed by the CA ISO under stage
3 emengency, it is therefore not dependent on whether the customer is
receiving "energy" product from PG&E the utility or other ESPs since everyone
is a user of the grid for transmission services.  My understanding is that
the only way to avoid curtailments is to get certified by CPUC as "essential"
end-user.  I think recently the BART train system successfully lobbied the
CPUC to certify it as essential.  Of course it will be a tough sell to do the
same for a private enterprise.  Realistically the only way to cover such
non-econcomic driven interruption is to put in on site back up generation.

Ress


Attached is the revised model with all of your transport deals from yesterday
and the farwell deal.  Please review and let me know if you agree with this.
If you agree, we will unwind/kill the TAGG deals and book the spreadsheet
amounts.  We are still working on the spread option and foreign exchange
being included in this model.  For the foreign exchange,  I took an average
exchange rate for the life of each deal for now.  Thanks.
PL


Dear Dan,

This e-mail shall confirm the sale of natural gas to National Steel from Enron North America:

Date:		May 25, 2001

Price:		$4.22

Delivery Point:	Nipsco

Quantity:	5,000 MMBtu/d


Heavy Load for 6/21

Our Upstream  BPA  deal # 504537.1

Our Downstream  IPCO deal # 655127.1

The path  5 mw

BPA C#24008-EPMI-IPC-SNPD(T)BPA(T)BPAP/PACW-IPC-PACW(T)PACW/ENTERPRISE-IPC-IPC(T)ENTERPRISE/IPCO SYS- IPCO SINK

All parties are aware that this schedule will exist in real time, and IPCO is taking responsibility to make sure it is tagged.

Please call BPA and IPCO before HE0700 to make sure this schedule is still going to work.

See me if you have any questions.

Cara


We had a last minute going away lucheon for one of the accountants that's
leaving the group.  Right after that another lady in the group is getting
married next week (I think) so we gave her a wedding shower.  Sorry that I
had to cancel and that it took so long for me to get back with you.  I been
over here working my tail off too.

Bobby Jackson <BJACKSON@SSWPC.COM> on 02/15/2001 03:55:19 PM
To: "'Dana.Davis@enron.com'" <Dana.Davis@enron.com>
cc:
Subject: RE: Hey!

Work Work. Ya finally made it back from your emergency. . . .

-----Original Message-----
From: Dana.Davis@enron.com [mailto:Dana.Davis@enron.com]
Sent: Thursday, February 15, 2001 4:00 PM
To: bjackson@sswpc.com
Subject: Hey!

What's happening over there?


Jo,

	At Pinnacle Terry  there is only one shipper - Tristar Gas Marketing for 800 dth

	At Elpaso Keystone as of today Reliant is the only shipper for 14,000 dth.

	Is that the info you are looking for?  Thanks. Lynn


----- Forwarded by Jeff Dasovich/NA/Enron on 07/06/2001 05:10 PM -----

	"Delaney Hunter" <dhunter@s-k-w.com>
	07/02/2001 06:00 PM
	Please respond to dhunter

		 To: "'Phil Isenberg'" <Isenberg@HMOT.com>
		 cc: Ann.Cohn@sce.com, brbarkovich@earthlink.net, cohnap@sce.com,
cra@calretailers.com, debinorton@aol.com, derek.naten@roche.com,
dominic.dimare@calchamber.com, drothrock@camfg.com, ek@a-klaw.com,
fieldejr@sce.com, jdasovic@enron.com, john.redding@gene.GE.com,
jstewart@cmta.net, kmccrea@sablaw.com, kt@a-klaw.com, lga@mother.com,
liebmand@haynesboone.com, mdjoseph@adamsbroadwell.com, mflorio@turn.org,
mkahl@ka-pow.com, Robert.Albergotti@asm.ca.gov, smutny@iepa.com,
vjw@cleanpower.org, wbooth@booth-law.com, John.Fielder@sce.com,
mkahl@ka-pow.com
		 Subject: FINAL Document/Letter

Hi all-
Here are the final document and letter. I will also be faxing everyone a
copy of the letter with signatures.

Thanks,
Delaney

 - FINAL DRAFT issues outline.doc
 - FINAL COVER LETTER.doc


Chris,

This is the file that was distributed on Friday.  I still need to add the other initiatives to it for trading.

If you have any questions give me a call.

MO

-----Original Message-----
From: Apollo, Beth
Sent: Fri 7/13/2001 3:17 PM
To: Belden, Tim; Presto, Kevin M.; Black, Don; Herndon, Rogers; Richter, Jeff
Cc: Beck, Sally; Dayao, Anthony; Dietrich, Janet; Leff, Dan; Mills, Scott; O'Neil, Murray P.
Subject: Operations Action list for EES/EWS transition effort

To all:

Attached is our first stab at a more detailed listing of all of the efforts which are ongoing in the operations area with owners, proposed deadlines, IT dependencies and some more detailed comments.  It is trying to tie in quite a few moving parts, so there is a lot of info on these few pages.  Hopefully still "readable".

The document also attempts to cross reference all of the various projects out there (Ranger, Genysis, Gas Solution......) -- so we all understand how these projects affect all of the initiatives that we have underway.  We will also be setting up consistent project management documentation to individually track each of the cross functional projects - to ensure that they do not impact the detailed Operations initiatives.

I intend to use this listing to control all of the Operations efforts, and as a tool to update you all on our progress (weekly initially - and then we will see what is needed).

This is a "living and breathing" document which we will be constantly adding to, as new initiatives become active and others are completed.

For those of you who will be at the EES/EWS offsite next week, I will plan to walk thru, and for others that attend the Thursday Causey/Buy meeting will also review it's intension there.

<<EES Activity Listing071301.xls>>
Please call me with any questions

Beth Apollo
x35014


This is a call out meter.  I think the best person to help you would be Kathy
Benedict in Volume Management.

D

	From:  Cynthia Hakemack                           01/08/2001 03:43 PM

To: Daren J Farmer/HOU/ECT@ECT
cc: Charles Howard/NA/Enron@ENRON, Charlene Richmond/HOU/ECT@ECT
Subject: Copano P/L 01/00 - S93481

Daren, I'm looking at S93481 for 01/00.  3,461 mmbtu was scheduled to Copano
P/L in 02/00 and the counterparty was paid.  In 05/00 the volumes were
reversed from this deal.  Would you be able to tell why they were reversed?
I'm trying to determine if this is a valid recoverable item.  Thanks.


Bob -
Val was looking into this deal, but now that she's gone I wonder if you could
help me with it. It's a swap that was done on 10/18/99 between LTWM and EES.
It's an off-peak deal for 0.2 mw at a price of $23.00 and settlement index of
PX SP-15. There are five legs that each run for one year - Cal'05 through
Cal'09.

I understand you've been working on making the switch from PX to Dow Jones
indices. Do you know anything about this deal and whether or not its index
needs to be changed? Please let Melissa or me know.

Thanks,
Kate
---------------------- Forwarded by Kate Symes/PDX/ECT on 03/13/2001 09:35 AM
---------------------------

Melissa Ann Murphy
03/13/2001 08:29 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: deal # 253768

Have you had a chance to look into this?

Thanks,
Melissa
---------------------- Forwarded by Melissa Ann Murphy/HOU/ECT on 03/13/2001
09:25 AM ---------------------------

Melissa Ann Murphy
03/08/2001 04:58 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: deal # 253768

Hello, I noticed that deal # 253768 is an index deal with EES that has not
been changed from the CAL PX to the Dow Jones index.  Could you ask Valerie
or Bob Badeer if this deal should be changed?  I was going to send them a
revised confirm.

Thanks!
Melissa


Title: Mexico and Multiservice Contracts: What's the Deal?
URL(s):

http://www.cera.com/eprofile?u=35&m=2812;

http://www.cera.com/eprofile?u=35&m=2813;

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

Dear Mexico Gas and Power Client,

As you might be aware, Pemex is proposing a new type of service contract as a
way to increase E&P investment in nonassociated gas in the Burgos basin.
Originally, CERA was planning to have a luncheon in December to discuss the
current status of these integrated contracts. Our intention was to invite key
individuals from Pemex to discuss the proposed contracts with our clients.
Pemex has informed us, however, that they are unable to discuss the service
contracts with the private sector prior to their formal announcement of the
service contract structure. Until this constraint has been resolved, CERA has
decided to have a conference call detailed below. We look forward to your
participation.

Regards,

Mexico Gas and Power

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

TOPICS

*  Overview of proposed service contract structure

*  Assessing the attractiveness of the contracts

*  Expectations of future investment under proposed structure

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

*  Alejandro Gonzalez, CERA Associate, Latin America

Time:

3:00 P.M. Eastern Time, Wednesday, December 5, 2001.

Eligibility:

Clients eligible to participate in this conference call are those who subscribe
to the CERA Mexico Gas and Power and Latin America Upstream Retainer Advisory
Services.

TO ENROLL

To enroll, please send a fax to Mary Rice at 617 576 8763 or send an e-mail to
mrice@cera.com before 5:00 P.M.EST, TUESDAY, DECEMBER 4, 2001. Please include
your name, company, and telephone number with your correspondence.

Enrollment is not mandatory but assists us in optimizing the conference
experience. If you are unable to pre-register, please follow the above URL,
click through to the Full Report, and follow the directions to participate on
the day of the call.

TO PARTICIPATE

Follow above URL and click through to the Full Report for instructions on how
to participate in the call (audio and internet information).

**end**

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

***********************************************************************
**************************************************************************************
CERAWeek February 11-15, 2002 - http://www.cera.com/ceraweek

SPECIAL OFFER: Register on-line before November 30th, and a 2-Day Pass
will be upgraded to a 4-Day Pass (maximum $1,800 value).
Day 1: Global Oil/Refined Products;
Day 2: Natural Gas/Global Energy;
Day 3 & 4: Electric Power
**************************************************************************************

To make changes to your cera.com profile go to:
http://www.cera.com/client/updateaccount

Forgot your username and password? Go to:
http://www.cera.com/client/forgot

This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.
Terms of Use: http://www.cera.com/tos
Questions/Comments: webmaster@cera.com
Copyright 2001. Cambridge Energy Research Associates


FYI.

Britt

 -----Original Message-----
From: 	Russo, Gavin
Sent:	Monday, October 29, 2001 10:18 AM
To:	Davis, Britt
Subject:	RE: RSM Production v. El Paso

If you go back to the 1970's HNG Oil Co. had production in Zapata County, which then became Enron Oil & Gas, which was owned by Enron Corp. Enron Corp itself paid no direct property taxes to either Zapata County or Zapata ISD. Enron Gas Marketing and Intratex had no hard assets in Zapata county but may have taken title to the gas somewhere down the pipeline. Houston Pipeline did have a large gathering and transportation network in Zapata County. I would assume that most the gas moved out of Zapata county to processing facilities in other counties.
I don't have a problem signing an affidavit stating that the three defendants had no reserves or stored gas in Zapata County.

Gavin

The owner of the gas in storage would pay the property taxes not the owner of the facility unless that language was in the storage agreement. HPL has paid the property taxes for numerous entities that have stored gas at Bammel. They basically add the cost of the liability to the storage fee.

 -----Original Message-----
From: 	Davis, Britt
Sent:	Monday, October 29, 2001 10:01 AM
To:	Russo, Gavin
Cc:	Edison, Andrew; Sanders, Richard B.; Vote, Robert; Zikes, Becky; Robichaux, Lisa; Cheek, Charles; Carrier, Lee
Subject:	RSM Production v. El Paso
Importance:	High

	Gavin,

	Thanks for taking time to explain how county ad valorem taxes in Texas work to both me and Becky.  As I understand it, there are two types of county ad valorem taxes that might be relevant in this lawsuit:  a tax on reserves in the ground pre-production, which is typically paid by the producer, and a tax on gas that has been produced and then stored in some sort of storage facility in that county (although I didn't ask, I again assume that the owner of the gas in the storage facility or the owner of the gas storage facility pays that tax).

	If I recall correctly, you advised me that none of the three Enron defendants named (Enron Corp., Enron Gas Marketing, Inc. and Intratex) had paid either of these two types of ad valorem taxes back as far as your records show.  I am hoping that you can say that based on your records, none of these entities owned any reserves in Zapata County or stored in gas in Zapata County or owned any storage facilities in Zapata County (whatever the relevant question is) for as far back as your records go (I recall you mentioning that none of these entities stored gas in Zapata County, but I can't remember if I asked you if I also asked you to confirm that none of these entities owned any gas reserves in Zapata and I don't know how far back your records go).

	(Of course, if I have gotten any of this wrong or mischaracterized what you've said, please let me know).

	If I haven't worn out my welcome, would you be the right person to be able to sign an affidavit supporting the foregoing?  I am anticipating that we will need to file an affidavit confirming these facts in the near future to support a motion to dismiss.

	I look forward to hearing from you.

	Britt


Vince:  Per your request, I am forwarding the electronic version of the WeBI
proposal. As I mentioned to you yesterday, Jeff Shankman has procured funding
for Enron to join at the corporate partner level, so you may wish to discuss
the matter with him prior to circulating this document.  This funding is in
addition to that which you and Christie have already committed to other
research and sponsorship activities at the School.

Please let me know if I can be of any further help.  I look forward to seeing
you again soon.

By the way, I cast my vote on time and with no confusion; let's hope the
outcome is as we hoped it would be.

TOM <<WebI Proposal complete 5-26.doc>>

 - WebI Proposal complete 5-26.doc


Hi,
I am trying to retrieve some analysis that I did while I was in Houston. It
is very imporatant that I get these files asap as I need to continue the
correlation analysis for the UK Power/Gas desk. I have put in a request to
the Resolution Center in Houston to try and get a back up but
would like to know if anyone has any further suggestions? I was not told that
the files in this folder were periodically deleted.
I think Tanya should have a copy of these files but do not know where she is
likely to store them.
Thanks in advance,
Kirstee


The 9th Circuit of the U.S. Ct. of Appeals granted EES' request to stay an
injunction granted by the District Court in the UCS litigation, which would
have required EES to continue to directly serve UCS.  The stay allows EES to
return the customer UCS to PG&E and SCE for utility service and thereby save
the future accrual of an additional $144 million of negative CTC
receivables.  In approximately two months, the 9th Circuit will conduct a
further review of the stay, at which point the litigation will return to the
District Court for discovery and eventually trial.


To Everyone,

The following are revisions to the final report for April 2001.  I am
providing details here, and the updated report is also attached.

Tom Brown Resources Ltd., CP ID 96309 is the result of an amalgamation with
Stellarton Energy Corporation, CP ID 64040.  Stellarton Energy Corporation
will be inactivated on 05/01/01.  Have Certificate of Amalgamation and
Articles of Amalgamation in hand.

Please also note that the Western Area Power Administration-"Upper Great
Plain" record, CP ID 81177, will be corrected to read "Western Area Power
Administration-"Upper Great Plains Region".  The record that was overlayed
per the report, CP ID 35194, will be inactivated as a duplicate record.
These changes have been included on this revised report and the changes have
been made in GCP today.  These are branch locations by geographic area of the
US Dept. of Energy, and there is no documentation for these changes.

I have also just received a name correction that may as well be included in
this report -
      From Greer Comm. of Public Works, CP ID 36393, to Commission of Public
Works, City of Greer

Please call me with any questions or concerns.

Thanks,
Cheryl x33103


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 02/12/2001
12:18 PM ---------------------------
To: Phillip K Allen/HOU/ECT@ECT
cc:
Subject: Re: AEC Volumes at OPAL


LAST CALL for signing up for Fundamentals of Electricity.    As a
result of several calls,   we have extended the registration deadline  until
this  Wednesday, January 23rd, 2002.  To register for this informative
class, fill out the registration form and fax it to (713) 856-6199  to my
attention by this Wednesday!

	Thanks,
	Lana Moore
	NESA
 <<521_Electricity.pdf>>

 - 521_Electricity.pdf


Re:  CHAPTER 11 REORGANIZATION
        FINANCIAL REPORTING REQUIREMENTS

Many people have questions regarding how Enron will be operating under Chapter 11 bankruptcy proceedings.  This memo addresses the financial reporting requirements Enron will have to its various constituents.

During the reorganization, the Company will continue its GAAP reporting, with a breakout of pre and post petition liabilities, as well as historical management/operational reporting, consistent with past practices.

In addition, the Company will have an added responsibility to report cash flows to the bankruptcy court and its various constituents.  Specifically, Enron will  be required to report projected cash receipts and cash disbursements by business unit on a weekly basis.  The court and our new debtor-in-possession ("DIP") lenders require a rolling 13 week projection of cash flows plus monthly projections thereafter to obtain a full year of projected cash flows.  The budgeted weekly projections will then be compared to actual results to determine how well each business unit is operating compared to the projections.  The weekly and monthly forecasts will be adjusted each week pursuant to revised or improved information on forecasted cash flows.  Thus this process will be an ongoing one, with constant updating of information to ensure we generate the most accurate reports possible.

The initial weekly and monthly projections will be critical to the determination of the amount that the DIP lenders will be willing to make available to the Company.  In addition, the cash flows for the entities that are included in the bankruptcy proceedings will be utilized by the bankruptcy court and DIP lenders to constantly review and react to the cash flow situation at Enron.  However, all Enron business units (not just ones in bankruptcy) will need to conform to these new requirements, because additional entities are likely to be included in the bankruptcy filing and because it is extremely important for Enron management to be able to see the totality of cash flow requirements for the entire Company.

The weekly cash flow projection project will be overseen by Mike Deville (x 57852) and Greg Adams (x 33887).  In addition, Enron has retained Batchelder & Partners, Inc., a financial advisory firm, to assist us in this and other reorganization efforts.

We will be having a group meeting with the CAO's and/or their designees from the various business units responsible for the cash projections on Wednesday, December 5 at 2:00 PM in the Boardroom on the 50th floor to further explain this process and answer any questions you may have.  We will then be meeting on an individual basis with the business units to discuss specific business unit requirements.

Attached is a template of the financial statement projection format that will be required .  Please review this template in advance of the Wednesday meeting to determine any questions you have on the reporting format.  Obviously the requirements may change, which will require us to reformat and/or obtain additional information on short notification.

Thank you in advance for your cooperation.  We look forward to your attendance on Wednesday.


Jeff Richter
deal 494092
Amerex shows price as $174.00

Jeff Richter
deal 494093
Amerex shows price as $173.00

Jeff Richter
I am missing the following deal per Amerex:
Enron buys El Paso 1/13-1/31 NP-15 off-peak at $180.00


This is a reminder of Enron's Email retention policy.  The Email retention policy provides as follows:

Message Location - Maximum Retention
Inbox - 30 days
Sent Mail Folder - 30 days
Trash/Deleted Items - Rollover from Inbox for one day
Folders - All Email messages placed in folders will be destroyed after one calendar year. This includes public folders in Outlook.

Furthermore, it is against policy to store Email outside of your Outlook Mailbox and/or your Public Folders.  Please do not copy Email onto floppy disks, zip disks, CDs or the network.  Such actions are prohibited and will not be supported by the IT Department.

There will be no exceptions to this policy.


Could you get me the Gas Daily's for Columbia Gas Appalachian for Feb 2001?

It shows up as Columbia, App in Gas Daily.


The Museum of Fine Arts Houston


Sure, I'll drop it by.
Thanks!

From: Tana Jones@ECT on 10/16/2000 10:10 AM
To: Camille Gerard/Corp/Enron@ENRON
cc:

Subject: Re: ClickPaper Approvals for 10/05/00 and 10/06/00

I do not believe that statement is correct.  The limitation was required in
the corporate documents of the company, so it should apply to all
agreements.  Can you send me up a copy of the Password Application and I will
give Steve Norris a call.  Thanks.

	Camille Gerard@ENRON
	10/14/2000 12:44 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Frank L Davis/HOU/ECT@ECT, John Cummings/HOU/ECT@ECT
		 Subject: Re: ClickPaper Approvals for 10/05/00 and 10/06/00

Tana,

We now have an application from Tembec, Inc.   Steven Norris, as Treasurer,
is the one signing the Password Application for Tembec.   When John Cummings
met with him last week, Steve stated that he would be involved in setting up
the users for Physical transactions.

After reading the requirements below, it sounds like the two signature rule
applies to Financial transactions only.

In other words, can we set up Steve as well as his users with Physical access
without two officers' signing?

If so, then we could get them on-line with Physical access and then work on
whatever we need for Financial access.

Thanks for your help!
Camille
36150

From: Tana Jones@ECT on 10/10/2000 04:28 PM
To: Camille Gerard/Corp/Enron@ENRON, Jarrod Cyprow/HOU/ECT@ECT
cc:

Subject: ClickPaper Approvals for 10/05/00 and 10/06/00

On the 10/05/00 List:  Tembec, Inc.'s bylaws require that agreements signed
by the company must be signed by any two of the following officers:   the
President or a Vice President together with any Director, Secretary or
Assistant Secretary.  If you are going to trade with them online you must
ensure that the Password Application gets signed by those officers, or if not
by those officers, they must provide a resolution if any officer except those
above signs the documentation.  Because of this signatory restriction
EnronOnline was hesitant to open them for financial trading.  It's up to your
group, but you must comply with these special signatory requirements.  If you
would like Legal to pass on the documentation if you are unsure, forward it
up to me.


As discussed, here's a summary of the responses gathered in the Employee Relations focus groups we did last month.  As you can see, particularly when matched with the results of our Internal Communications survey and the Lay It On the Line survey, Lundtz's information was right on target with what employees have been telling us.

Sarah Palmer
Internal Communications Manager
Enron Public Relations
(713) 853-9843


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/11/2000
05:25 PM ---------------------------

Lisa Ford <lisawford@yahoo.com> on 05/10/2000 04:32:34 PM
To: vkamins@enron.com
cc: vkaminski@aol.com
Subject: Lisa Ford information

Good afternoon Vince,
Per your request, here is my contact information.
Have a nice day and feel free to call me if you need
any additional information.  Thank you
Sincerely,
Lisa Ford

Office# - 281-913-2076
E-mail  - lisawford@yahoo.com
cell#   - 281-796-5526

__________________________________________________
Do You Yahoo!?
Send instant messages & get email alerts with Yahoo! Messenger.
http://im.yahoo.com/


No.

Any idea how these guys are finding out where Jeff is going?

	Enron Capital & Trade Resources Corp.

	From:  Joannie Williamson                           04/03/2001 03:58 PM

To: Steven J Kean/NA/Enron@Enron
cc:

Subject: bilateral request

Should I try to accommodate this request?

Thanks,
Joannie
---------------------- Forwarded by Joannie Williamson/Corp/Enron on
04/03/2001 03:50 PM ---------------------------

Swathi Kappagantula <swathi_kappagantula@yahoo.com> on 04/03/2001 03:51:03 PM
To: joannie.williamson@enron.com
cc:

Subject: bilateral request

Dear Joannie,

Minister Luhut Pandjaitan will be attending the USA
Meeting 2001 in Washington, DC over the next two days.
 He has requested a bilateral meeting with Mr.
Skilling, and would like to arrange a time (it is no
problem to find a meeting room here at the Chamber on
either April 4 and 5). If it is easier, you can reach
the Minister's accompanying advisor, Mr. Mani Maren,
directly at the following mobile number:
++62-81-693-0637. Alternatively, please feel free to
call me in order to confirm a meeting time
(++41-79-615-1612). The Minister is available
throughout the day on Wednesday, or early on Thursday
morning.

Thank you for your assistance.

Best regards,
Swathi Kappagantula
World Economic Forum

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


---------------------- Forwarded by Darron C Giron/HOU/ECT on 11/06/2000
01:43 PM ---------------------------

Susan D Trevino
10/30/2000 01:25 PM
To: Debbie R Brackett/HOU/ECT@ECT, John D Powell/HOU/ECT@ECT, Michael
Swaim/HOU/ECT@ECT, Ron Nolte/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT, Scott
Mills/HOU/ECT@ECT, Michael E Moscoso/HOU/ECT@ECT, Rudi Zipter/HOU/ECT@ECT,
Todd Warwick/HOU/ECT@ECT, Chris Abel/HOU/ECT@ECT, Tracey Irvin/HOU/ECT@ECT,
Frank Cernosek/HOU/ECT@ECT, Daniel Falcone/Corp/Enron@ENRON, Manfred
Roenz/Corp/Enron@Enron, Clara Carrington/HOU/ECT@ECT, Minal
Dalia/HOU/EES@EES, Homan Amiry/LON/ECT@ECT, Christian
LeBroc/Corp/Enron@ENRON, Xochitl Figueroa/NA/Enron@Enron, Joyce
Kuo/NA/Enron@Enron, Burton McIntyre/HOU/ECT@ECT, Kevin Lee/Corp/Enron@Enron,
Kenneth D'Silva/HOU/ECT@ECT, Rebecca Ford/HOU/ECT@ECT, Gregory
Carraway/Corp/Enron@Enron, Bjorn Hagelmann/HOU/ECT@ECT, Sunil
Dalal/Corp/Enron@ENRON
cc: Darron C Giron/HOU/ECT@ECT, Jennifer Bagwell/NA/Enron@ENRON, Anne
Bike/Corp/Enron@Enron, Carole Frank/NA/Enron@ENRON, Jason
Wolfe/NA/Enron@ENRON, Chris Walker/HOU/ECT@ECT
Subject: Book Request 593

This book is set up.  Please contact me if you have any questions.

Thank you,
Susan Trevino
x3-1462


In response to your inquiries about whether TW's tariff allows the format
posting, bidding and awarding of capacity in our EnronOnline proposal, here
is my 2 cents' worth.

The criteria for awarding capacity is found in the Right of First Refusal
section of TW's tariff (for some reason that's never been clear to me). See
Section 13.A. (Sheet No. 18):  "All available capacity shall be allocated
under these procedures, and Transporter will not maintain a firm
transportation queue."  The ROFR section does specify the posting and bidding
procedures (including a minimum one month period between posting and the bid
deadline -- See Section 13.D.) but arguably these timelines only apply to the
ROFR bidding process, not to an open season for other capacity.  Even if the
one-month minimum bid period did apply outside the ROFR process, the
EnronOnline proposal complies by giving shippers at least a month to submit
bids (Tony -- am I right about this?).

The only other relevant part of our tariff is the EBB/Internet section of the
General Terms and Conditions (beginning on Sheet No. 72).   TW will continue
to comply with all provisions in this section.  The section even specifically
provides that shippers may request service and contract electronically.

I've found nothing in else in TW's tariff that would appear to address an
online open season one way or the other.  I believe our tariff gives us the
flexibility to sell capacity online as we've proposed to do.

Hope this helps.  If you want to discuss this I'll be here most of the day,
and I will be reachable by e-mail while I'm in San Francisco next week.  My
hearing does not start 'til noon Houston time on Tuesday, so if we need to
talk Tuesday morning you can reach me at my hotel (415.398.1234).


----- Forwarded by Richard B Sanders/HOU/ECT on 05/25/2001 03:18 PM -----

	showard@agsk.com 05/22/2001 10:57 PM 	   To: Richard.B.Sanders@enron.com  cc:   Subject: McConville's transcript

see below

Dinner was great.
                                                                                ................................................

ALSCHULER GROSSMAN STEIN & KAHAN LLP
ATTORNEYS AT LAW
www.agsk.com

2049 Century Park East
Thirty-Ninth Floor
Los Angeles, CA 90067-3213
Tel 310-277-1226
Fax 310-552-6077

This transmission is intended only for the use
of the addressee and may contain information
that is privileged, confidential and exempt from
disclosure under applicable law. If you are not
the intended recipient, or the employee or agent
responsible for delivering the message to the
intended recipient, you are hereby notified that
any dissemination, distribution or copying of
this communication is strictly prohibited.

If you have received this communication
in error, please notify us immediately
via e-mail at postmaster@agsk.com or
by telephone at 310-277-1226. Thank you.

...............................................
 - NSM522CF.TXT


Great!  This is exactly how I want everything in RAC to work. Rick


Kim, please forward to the traders.  I think the schedulers have this already.

Please forward:  Room Change


As you are aware, the Corporate American Express credit cards have been cancelled, effective December 4, 2001.  We are working with American Express to establish new contracts for ETS employees. This will allow for reinstatement of service and a requirement for issuance of new cards.  We are expecting an answer from American Express on December 14, 2001.

Until advised, please limit travel and entertainment expenses.  If you are required to travel on business, you will need to use your personal credit cards or cash and submit your expenses through the XMS expense account system at:  https://expensexms.enron.com/ewp/ .   If the use of a personal credit card to cover your travel needs is not an option, cash advances can be approved by your immediate supervisor, and processed through your local administrative team.  In Houston, all cash advance requests, after obtaining proper approval, should be routed to Carolyn Centilli for processing.

We will continue to update you of program changes as we continue to work with American Express.  If you have questions, please call Mary Ann Johnson - 713-345-5278 or Bruce Martin - 713-345-6527.

Morris A. Brassfield
3AC3285
Senior Director
Enron Transportation Services

Work:  (713) 646-7006
Cell:    (713) 503-1409
Pager: (877) 701-9516


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude13.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas13.pdf

Jan WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clf-qof.pdf
Jan Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Jan Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Dec/May Heat Spread     http://www.carrfut.com/research/Energy1/hoz-hok.pdf
Jan/Feb Heat Spread     http://www.carrfut.com/research/Energy1/hof-hog.pdf
Dec Gas/Heat Spread     http://www.carrfut.com/research/Energy1/huz-hoz.pdf
Feb Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hug-hog.pdf
Dec/Mar Unlead Spread
http://www.carrfut.com/research/Energy1/huz-huh.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG13.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG13.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL13.pdf


HAAS ENTERTAINMENT MANAGEMENT ASSOCIATION
New Media - Film - TV - Music - Sports

You are invited to attend the first general meeting of the
Haas Entertainment Management Association

Tuesday, April 17th
12:40 - 2:00
C135
Pizza will be served

Come find out about EMA's plans for the coming year, including:

Studio Visit to LA in the Fall
Guest Speakers
Treks to local companies
Concerts
Movie Nights
Job Fairs
Sporting Events
Any other ideas you come up with!

Sincerely,
Your Club Officers for 2001:

Co-President:? Eric Frandson
Co-President:? Ben Soccorsy
VP New Media:? Kurt Findeisen
VP Film & TV:? Nick Deans
VP Music:? Jay Badenhope
VP Sports:? Mike Todd
VP Website:? Gregory Thoennes

*** Subscribe to the club alias:? 'ema' ***

______________________

Eric Frandson
MBA Candidate, Class of 2002
Haas School of Business
University of California, Berkeley
frandson@haas.berkeley.edu
(510) 839-0270


Tammie Schoppe @ x34220 (lunch provided)


I released the Transco and CNG capacity to Energy Express for the term of the
deals.  However, Boston should recall all this capacity effective 7/1/2000.

Transco Offers
#20100 for 15 dth effective 6/1/2000 - 5/31/2008 from k# 2.4899, Wharton to
Algon
#20101 for 5 dth effective 6/1/2000 - 5/31/2008 from k# 2.8607, Wharton to
Algon

CNG Offers
#13817 for 67 dth effective 6/1/2000- 3/31/2003 from k# 5A2529, transport to
Leidy

#13824 GSSTE, effective 6/1/2000 - 3/31/2006, Demand Vol = 132, Capacity Vol=
14661.

Let me know if you have any questions.

Thanks
Chris 713-853-4743

---------------------- Forwarded by Chris Germany/HOU/ECT on 05/30/2000 02:06
PM ---------------------------

Scott Goodell@ENRON
05/26/2000 10:29 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Boston Gas Release

---------------------- Forwarded by Scott Goodell/Corp/Enron on 05/26/2000
10:31 AM ---------------------------

David Familetto <dfamiletto@metromediaenergy.com> on 05/26/2000 06:44:48 AM
To: "'Enron - Scott Goodell'" <scott.goodell@enron.com>
cc:

Subject: Boston Gas Release

Hi Scott,

I got your message this morning regarding the releases for the Columbia
customers.  I'll call you as soon as I complete my nominations for the
weekend.

I understand you may be having a problem releasing to EnergyEXPRESS on CNG -
I'll see if I can't resolve that...

Thanks,
David Familetto
Metromedia Energy
(508) 599-7124


LAW OFFICES OF PHILIP MARSTON
Suite 300
218 N. Lee Street
Alexandria, VA  22314
Tel:  703-548-0154
Fax:  703-548-5976
Email:  pmarston@marstonlaw.com

TO:  Marston's Distribution List

Attached for your information is a press release that has been issued today
by the Center for the Advancement of Energy Markets ("CAEM" or "Center")
regarding recent comments the Center filed with the Federal Trade
Commission in response to the FTC's inquiry into retail electricity markets
(Docket V010003).   A copy of the Comments (and a separate file comprising
an Attachment thereto) is also attached below.

These documents are being distributed to you at the request of the Center
to distribute them to industry participants who may find them of interest.
 If you do not wish to receive such communications in the future, please
email admin@marstonlaw.com with word REMOVE in the subject line.

Regards,

PMM

3 Files Attached Follow:

1.  Press Release

2.  Comments of CAEM in FTC Docket V010003

3.  Attachment to CAEM Comments (Exec Sum of REM 2000)

***************************************
IMPORTANT NOTICE
This email message is intended for the exclusive use of the persons(s)
identified above.  It may contain information that is attorney work
 product, privileged, confidential or exempt from disclosure under
 applicable law.  If you are not the intended recipient, or the employee or
agent responsible for delivering it to the intended recipient, you are
hereby notified that any dissemination, distribution or copying of this
communication is strictly prohibited.  Please notify the sender immediately
and delete the message from your computer files.  Thank you.
***************************************

 - Press Release Announcing FTC FILING.PDF
 - Comments of CAEM in V010003.PDF
 - Attachment to Comments (XENERGY REM2000).pdf


Thanks for your help today.  Jill is trying to execute this deal first thing in the morning.

I still do not know what meter number Cabot would nom to on CNG.


Due to problems with the gas curves there will be incorrect credit information for TXU, Calpine and Indeck Pepperel Power Assoc. out of EnPower (these counterparties have spread options and/or heat rate swaps that utilize the gas curves.)  If you need these transaction re-calced in the morning please contact Andrea Dahlke and X 5-4080.

Thanks,

Stacey


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 07/17/2000
02:25 PM ---------------------------

Jason Moore
07/11/2000 12:42 PM
To: Hunter S Shively/HOU/ECT@ECT
cc:
Subject: Gas Counterparties

Attached please find a list of active counterparties that ENA is doing gas
business with, along with their addresses.  The list is in alphabetical order
by the legal name.

Jason Moore


sounds good to me.  we have our staff mtg. @ 9:30 every tuesday, so errol and
I may be a few minutes late.
PL


-----Original Message-----
From: 	Chen, Hai
Sent:	Friday, October 12, 2001 2:35 PM
To:	Black, Tamara Jae
Subject:	Options Market Update
Importance:	High

T Jae,

Could you forward the followings to all traders and mid-marketers.  Thanks!  - Hai

We plan to provide all traders and mid-marketers a weekly update on selected products and activities in options market.  Attached sheet is our first issue, and your comments are much welcome.

We make markets for much more products than the listed.  If you or your customers are interested in any products not available in this sheet, please feel free to contact us directly.  If you don't want to receive this update in the future, please also advise us.

Thanks.
Hai


I have consulted my partner, and it would be great if we could be added to
the reservation list.  Please pass this on to whoever.

"Salazar, Alexis" <ASalazar@PIRNIE.COM> on 02/05/2001 10:44:16 AM
To: "Mat Smith (E-mail 2)" <matt.smith@enron.com>, "Jeff Ball (E-mail)"
<jball@dlj.com>
cc:

Subject: FW: La Strada

R U  coming?? It's gonna be a good time........
?
-----Original Message-----
From: Barclay, Becky (417)  [mailto:Becky.Barclay@affiliates.com]
Sent: Monday, February 05, 2001  10:38 AM
To: Alexis Salazar (E-mail); Andrea (E-mail); Angie Cabrera  (E-mail); Keri
Shaw (E-mail); Katya Horner (E-mail); Luisa Beltran (E-mail);  Mark A.
Krenzer (E-mail); Tammy Wilson (E-mail)
Subject: La  Strada

Ok gang - here's what I have so far  for Sunday.? We need to be there around
10:45 (11:05 at the latest!)?  They won't seat us if we are all not there.?
The list so far includes  Alexis, Lou, Mark, Keri, Katya, Angie and myself.?
We can add to the  reservations up to Sat.? so let me know if any one else
wants to come  (Tammy???).? Also, is Andrea, Matt or Jeff coming??

Becky Barclay
The Affiliates
333 Clay Street
Suite 4820
Houston, Texas 77002
713-658-1177
713-658-1771 (fax)
www.affiliates.com


This discusses Dynegy's comments on FERC's Notice of Interim Reliability
measure for this summer.  Enron participated through EPSA (see my separate
email)
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 06/05/2000
05:25 PM ---------------------------

Kathryn Corbally@ENRON
06/05/2000 05:04 PM
To: Christi L Nicolay/HOU/ECT@ECT
cc:
Subject: dynegy

This is DYN's press release that refers to the FERC 's May 18 notice...?

MANY THANKS
KATHRYN


Thank you for sharing this with me, Shelley.  You are living one of my dreams.  My mother will enjoy this also.  She asks me everyday if I've talked with you.  Take care.

 -----Original Message-----
From: 	Corman, Shelley
Sent:	Thursday, January 17, 2002 2:59 PM
To:	Thompson, Debra; Lokey, Teb
Subject:	The Journal

Here is the unedited (and unfinished) version.  Kim still needs to add his notes on the last days of the trip.

 << File: Journal From Trip to Kazakhsta2.doc >>


Can you sent out that original Participation Agreement for signature to the
cpy.  I am attaching my form of letter so you can copy it.  Thanks.


please print from SWAP 1 to the end.  Thanks.  SS
----- Forwarded by Sara Shackleton/HOU/ECT on 06/12/2000 10:22 AM -----

	Joyce Dorsey
	06/12/2000 09:27 AM

		 To: rastin@velaw.com, Gareth Bahlmann/HOU/ECT@ECT, Clint
Freeland/Corp/Enron@Enron, Paige B Grumulaitis/HOU/ECT@ECT, who@velaw.com,
Johnna Kokenge/Corp/Enron@ENRON, jlynch@velaw.com, Jeff Nogid/HOU/ECT@ECT,
kimberly.r.scardino@arthurandersen.com, Sara Shackleton/HOU/ECT@ECT, Pushkar
Shahi/HOU/ECT@ECT, Ryan Siurek/Corp/Enron@ENRON, William Stuart/HOU/ECT@ECT,
AnnMarie Tiller/Corp/Enron@ENRON, Brent Vasconcellos/Corp/Enron@ENRON, Brenda
L Funk/HOU/ECT@ECT
		 cc:
		 Subject: Enron PATS 2000-1: Revised Documents

---------------------- Forwarded by Joyce Dorsey/HOU/ECT on 06/12/2000 09:26
AM ---------------------------

Clint Freeland@ENRON
06/12/2000 08:40 AM
To: Joyce Dorsey/HOU/ECT@ECT
cc: Gareth Bahlmann/HOU/ECT@ECT
Subject: Enron PATS 2000-1: Revised Documents

Joyce -
Would you please forward this to the Sterling PAT team.  Thank you.
CF
---------------------- Forwarded by Clint Freeland/Corp/Enron on 06/12/2000
08:24 AM ---------------------------

mukunah@winstim.com on 06/09/2000 09:56:13 PM
To: clint.freeland@enron.com, gareth.bahlmann@enron.com,
kimberly.blue@ubsw.com, scott.whitney@ubsw.com, ryan.donovan@ubsw.com,
scott.giese@ubsw.com, timothy.steele@ubsw.com, michael.davidson@ubsw.com,
william.sullivan@ubsw.com, john.magovern@ubsw.com, raustin@houston.rr.com,
mspradling@velaw.com, sara.shackleton@enron.com, who@velaw.com,
gorloff@bracepatt.com, ktrautner@bracepatt.com, Rastin@velaw.com,
ttabor@bankofny.com, kurzw@winstim.com, bergeronc@winstim.com,
david.mikula@ubsw.com, bvascon@enron.com, atiller@enron.com, jlynch@velaw.com
cc: ecklandt@winstim.com, delaneyj@winstim.com, chudyj@winstim.com,
earlyhud@winstim.com

Subject: Enron PATS 2000-1: Revised Documents

In connection with Enron's PATS offering, we're attaching a Cover Letter and
clean and marked drafts of the Purchase Agreement, Remarketing Agreement,
Trust
Agreement  and Confirmations relating to the swaps and options.

Best regards,

Hazel Mukuna

(See attached file: Cover Letter.doc)

(See attached file: Purchase Agreement.doc)        (See attached file:
Purchase
Agreement REDLINE.doc)

(See attached file: Remarketing Agreement.doc)     (See attached file:
Remarketing Agreement.REDLINE.doc)

(See attached file: Trust Agreement.doc)           (See attached file: Trust
Agreement.REDLINE.doc)

(See attached file: Swap 1 - UBS and Trust.doc)    (See attached file: Swap 1
-
UBS and Trust.REDLINE.doc)

(See attached file: Swap 2 - Enron - UBS.doc)      (See attached file: Swap 2
-
Enron - UBS.REDLINE.doc)

(See attached file: Swap 3 - Enron - UBS.doc)      (See attached file: Swap 3
-
Enron - UBS.REDLINE.doc)

(See attached file: Option 1 - UBS and Trust.doc)  (See attached file: Call
Option 1 - UBS and Trust.REDLINE.doc)

(See attached file: Option 2 - Enron and UBS.doc)  (See attached file: Option
2
- Enron and UBS.REDLINE.doc)

______________________________________
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 - Cover Letter.doc
 - Purchase Agreement.doc
 - Purchase Agreement REDLINE.doc
 - Remarketing Agreement.doc
 - Remarketing Agreement.REDLINE.doc
 - Trust Agreement.doc
 - Trust Agreement.REDLINE.doc
 - Swap 1 - UBS and Trust.doc
 - Swap 1 - UBS and Trust.REDLINE.doc
 - Swap 2 - Enron - UBS.doc
 - Swap 2 - Enron - UBS.REDLINE.doc
 - Swap 3 - Enron - UBS.doc
 - Swap 3 - Enron - UBS.REDLINE.doc
 - Option 1 - UBS and Trust.doc
 - Call Option 1 - UBS and Trust.REDLINE.doc
 - Option 2 - Enron and UBS.doc
 - Option 2 - Enron and UBS.REDLINE.doc


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I'm sorry.  I forgot to mention Kathy and I can't find these deals in our
system.

---------------------- Forwarded by Chris Germany/HOU/ECT on 12/29/99 10:47
AM ---------------------------

Chris Germany
12/29/99 10:46 AM
To: pvillag@columbiaenergy.com, Mark Friedman/HOU/ECT@ECT,
msharif@columbiaenergygroup.com
cc: Clarissa Garcia/HOU/ECT@ECT, Cindy Vachuska/HOU/ECT@ECT, Katherine L
Kelly/HOU/ECT@ECT, Victoria Versen/HOU/ECT@ECT, Meredith Mitchell/HOU/ECT@ECT
Subject: Tenn supply in Zone 4

Fred with Equitable said he has 2 deals with CES.

1.  Tennessee - Equitable is selling CES 2,500 day delivered to Zone 4 at
NYMX + .35.  Equitable has the trigger and this deal goes through March
2000.  CES is currently receiving this gas at Beldon & Blake.

2.  Tetco - CES gave Equitable 100,000 dth in April and Equitable is giving
CES 100,000 dth in January 2000 delivered to Tetco M2.  CES has(or will) pay
Equitable $.65 for the exchange.  We call this a synthetic storage deal.

Do you know anything about these deals?


You are now on the Wait List for Harassment Avoidance, beginning on March 5,
2001
If space becomes available, you will be notified by e-mail.

If you have any questions, please call the Development Center Team at
713-853-0357.

Thank you.


You planned that didn't you.   You guys can't get enough of me.

	Enron Capital Management

	From:  David Baumbach                           12/07/2000 04:23 PM

To: Susan M Scott/HOU/ECT@ECT
cc:
Subject: December 15th Move

Take a look where you are sitting in relation to the Texas Desk!!  Oh my!!

---------------------- Forwarded by David Baumbach/HOU/ECT on 12/07/2000
04:26 PM ---------------------------

	Enron North America Corp.

	From:  Irena D Hogan                           12/07/2000 04:18 PM

To: Kori Loibl/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Susan M
Scott/HOU/ECT@ECT, Laura Vargas/Corp/Enron@ENRON, Luchas
Johnson/NA/Enron@Enron, Amy Cavazos/NA/Enron@ENRON, Sherry
Dawson/NA/Enron@Enron, Bilal Bajwa/NA/Enron@Enron, Joey
Taylor/NA/Enron@ENRON, Kimat Singla/HOU/ECT@ECT, Crystal Hyde/HOU/ECT@ECT,
Jeff Royed/Corp/Enron@ENRON, Brenda H Fletcher/HOU/ECT@ECT, Elizabeth L
Hernandez/HOU/ECT@ECT, Jeanne Wukasch/Corp/Enron@ENRON, William
Kelly/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Kyle R
Lilly/HOU/ECT@ECT, Alejandra Chavez/NA/Enron@ENRON, Kimat Singla/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, Michael
Walters/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT, Jody Crook/Corp/Enron@ENRON,
Denver Plachy/NA/Enron@Enron, Patrick Ryder/NA/Enron@Enron, Cathy De La
Torre/HOU/ECT@ECT, Melba A Bowen/HOU/ECT@ECT, Cathy Sprowls/HOU/ECT@ECT, John
Valdes/HOU/ECT@ECT, Jennifer Lee/NA/Enron@Enron, Gregory A
Mausser/HOU/ECT@ECT, Delma Salazar/NA/Enron@Enron, James
Hungerford/NA/Enron@ENRON, Russ Severson/HOU/ECT@ECT, George
Grant/HOU/ECT@ECT, Rahmaan Mwongozi/Corp/Enron@ENRON, Greg Couch/HOU/ECT@ECT,
Alexander R Gonzales/NA/Enron@ENRON, Pamela Sonnier/HOU/ECT@ECT, Shona
Wilson/NA/Enron@Enron, David Maxwell/HOU/ECT@ECT, Susie Ayala/HOU/ECT@ECT,
Adarsh Vakharia/HOU/ECT@ECT, Burton McIntyre/HOU/ECT@ECT, Susan D
Trevino/HOU/ECT@ECT, Maria Teresa Aguilera-Peon/Corp/Enron@Enron, Jennifer
Nguyen/Corp/Enron@ENRON, Eugenio Perez/HOU/ECT@ECT, Daniel
Falcone/Corp/Enron@ENRON, Chris Abel/HOU/ECT@ECT, Kenneth
Thibodeaux/NA/Enron@ENRON, Melba A Bowen/HOU/ECT@ECT, Nancy
Hernandez/NA/Enron@ENRON, Theresa Toward/NA/Enron@Enron, Mary M
Smith/HOU/ECT@ECT, Lisa Hesse/HOU/ECT@ECT, Trisha Hughes/HOU/ECT@ECT, Jeffrey
C Gossett/HOU/ECT@ECT
cc: Elizabeth Soto/HOU/ECT@ECT, Pamela Sonnier/HOU/ECT@ECT
Subject: December 15th Move

On the evening of December 15th, we will be moving.  You will receive packing
directions for your desk the week of the move.  Boxes and moving labels will
be available on Wednesday, December 13.  Please see below for your new work
location.  If you have any questions, please contact your group Assistant.


Attached please find the report listing the Global Contracts group's assignments, terminations, and expirations for the month of November 2001.  Please call me if you have any questions.

Thanks,
SBR x30569


Rebecca,

John Ayres and I met today.  He wishes to add the interconnect piping
between the chiller and cooling tower options in Exhibit N-2 for the ESA
Electrobolt Project.  This adds a total of $ 266,400 to the Jan 15, 2001
payment (equal to $ 33,280 per unit).  There will be no effect on the
12/27/00 payment amount.  I've edited your spread sheet to show this.

John Ayres asked if he could have a stripped down version of the Spread
sheet showing only the ESA amounts.

Kay, You'll notice that the Cooling Tower Option is Exhibit N-2 was changed
to add this interconnect piping to the scope.

I hope this helps.

Regards,

Lee
-----Original Message-----
From: Rebecca.Walker@enron.com [mailto:Rebecca.Walker@enron.com]
Sent: Friday, December 08, 2000 9:30 AM
To: lee.johnson@ss.ps.ge.com
Cc: Kay.Mann@enron.com; Ben.Jacoby@enron.com; pthompson@akllp.com;
ccobb@akllp.com
Subject: LM 6000 Breakout Contract Amounts

Attatched please find a contract payment summary for the LM 6000 turbines.

(See attached file: LM 6000 Breakout Contracts.xls)

Feel free to contact me with any questions.

Rebecca Walker
713-345-7968

 - Paymentschedule_LM 6000 Breakout Contracts_121100edits for
ESAchillerpiping.xls


David-

After thinking about it and talking with other P&Z members, I think we can suggest some more ideas to Dan Muniza on the outdoor seating area.  Since the restaurant does not need the entire area, maybe they could use the front part or the middle part.  If they used the middle part, we could reclaim the front and back and put plantings and/or suitable trees.  Also, Dora suggested they use some kind of decking instead of concrete.  Maybe when P&Z meets again we can flesh out some of these ideas.  Next time you talk with Dan, please mention using only a part of the area.

Thanks,

Susan


I want to remind each of you to attend the Enron Employee Meeting tomorrow at 10 a.m. in the Hyatt Regency Imperial Ballroom.  I hope to introduce many of you at the meeting, so please plan to sit up front.  Seats will be held for you.

This will be a very important meeting.  I look forward to seeing you there.

Regards,
Ken

P.S. Remember to bring your badges -- security will be checking to ensure only employees are allowed in.


Please try to make it tonight by 7:45 to go over some things.