Bingaman, Senate Energy Chief, Will Block Bush Plan (Update1)
Bloomberg, 06/05/01

USA: TECO breaks ground on 599-MW Arkansas power plant.
Reuters English News Service, 06/05/01

Reuters to Provide Its Customers With EnronOnline Quotes
Business Wire, 06/05/01

UK: Intl bonds-Telecoms suffer despite positive market.
Reuters English News Service, 06/05/01

Natural gas generators considered to ease electricity demand, prices
Associated Press Newswires, 06/05/01

Waste Management to Start Trading Pulp and Paper (Update1)
Bloomberg, 06/05/01

Profile: Power Play, Who's to Blame for the Energy Crisis?; Lowell Bergman,
"Frontline" correspondent, Laura Holson and Joseph Kahn, The New York Times,
discuss the energy crisis
ABC News: Nightline, 06/04/01

Bingaman, Senate Energy Chief, Will Block Bush Plan (Update1)
2001-06-05 10:50 (New York)

Bingaman, Senate Energy Chief, Will Block Bush Plan (Update1)

     (Adds company names in fourth paragraph and details about
contributions in paragraph 23.)

     Washington, June 5 (Bloomberg) -- President George W. Bush
delivered his energy plan to Senator Frank Murkowski last month,
expecting the Alaska Republican to push it more or less intact
through the Senate and on to passage by the House.
     Now the package intended to boost oil and gas production and
ease some pollution controls is in the hands of Jeff Bingaman. The
New Mexico Democrat disagrees with Bush's approach and wants to
start fresh negotiations on what U.S. policy should be.
     Bingaman, 57, who's spent most of his 19 years in the Senate
out of the spotlight, will become chairman of the Energy and
Natural Resources Committee when Democrats take control of the
Senate later this week.
     Bush wants to make it easier for companies like Enron Corp.,
Exxon Mobil Corp. and BP Plc, to build power plants and pipelines
by easing regulations, and he's opposed to regulating the carbon
dioxide emissions blamed for global warming. Bingaman has
introduced legislation to cut emissions to curb global warming.
     The president's proposal to drill in the Arctic National
Wildlife Refuge, in trouble even with Republicans in charge, is
dead as long as Democrats have control. Bingaman has no plans to
consider it.
     Bush opposes caps on energy prices; Bingaman is cosponsor of
legislation to impose caps on wholesale energy prices in
California although, according to a spokesman, he'd prefer the
Federal Energy Regulatory Commission do that on its own.

                         Seeking Consensus

     Bingaman says rather than offer his own plan now, he'll try
to sit down with Republicans and negotiate something both sides
can agree on. There is already agreement on some proposals, such
offering tax credits to encourage domestic drilling and the use by
business of renewable energy technology, such as wind-powered
turbines.
     ``Obviously, I'm going to work for consensus,'' he said.
``There's nothing about much of these issues that should be
partisan.''
     Bingaman says he hasn't decided whether to push a single,
comprehensive energy bill or move issues separately. Democrats may
insist on separate bills for political purposes, said Tim Evans, a
senior energy analyst at IFR Pegasus.
     ``They'll say, `Let's get all of the most vulnerable
Republicans on record supporting drilling and see if they get re-
elected,''' he said.
     Whatever his decision, Bingaman won't meet Murkowski's goal
to have a bill for Bush to sign on July 4.
     ``I'm not anxious to have some artificial deadline so that we
can have a bill-signing ceremony on a holiday,'' Bingaman said.
``I don't think that's the way to legislate.''

                     Visionary or Do-Nothing?

     Throughout his career, Bingaman has made a practice of taking
time to study an issue before acting.
     ``He's something of a visionary,'' said Bruce Black, a former
law partner who became a federal judge in New Mexico after
Bingaman recommended his nomination. ``He sees trends.''
     Opponents see inaction.
     ``He doesn't accumulate much in the way of negatives by not
doing much,'' said John Dendahl, chairman of the Republican Party
of New Mexico.
     Bingaman is a politician who doesn't stray from party
positions, Dendahl said. ``He's not a maverick. He's always been
when the chips are down a straight Democratic voter.'' In 2000,
Bingaman voted with the party leadership 87 percent of the time on
votes in which the two parties took opposing positions, according
to data compiled by Congressional Quarterly.

                        Fundraising Success

     In the Senate, Bingaman's strategy has been to home in on
issues that have been neglected, such as school accountability and
defense research that has civilian uses, work with others, and not
hog the credit.
     ``He wouldn't try to beat it to the front of the class,''
said Ben Alexander, a Bingaman fundraiser.
     That approach appears to have worked: Republicans haven't
been able to budge Bingaman from his Senate seat by appealing to
New Mexicans' distrust of party-line politicians.
     With Alexander's help, Bingaman built a campaign fund that's
helped him fend off rivals. He raised $2.7 million for his 2000 re-
election bid compared with his Republican challenger's $669,000.
     The $295,527 Bingaman got from oil and gas companies and
electric utilities made him the industry's sixth-largest
congressional recipient in last year's elections, according to the
Center for Responsive Politics.
     The oil and gas industry gave $32.6 million overall last year
in campaign contributions. The top contributor, Enron, a pipeline
and energy-trading firm, gave $2.4 million. Exxon, the world's
largest publicly traded oil company, followed with $1.4 million
and BP, the third largest publicly traded oil company, donated
$1.3 million, according to the Center for Responsive Politics.

                     Comparison With Murkowski

     Environmentalists said Bingaman will balance conservation and
production concerns better than Murkowski.
     ``Murkowski wants to jam through an agenda'' to boost
production, said Alyssondra Campaigne, legislative director of the
National Resources Defense Council. Bingaman ``tends to be more
studious and thorough.''
     As chairman, Murkowski has pushed a comprehensive bill that
includes tax incentives to promote the use of alternative energy
and opening 1.5 million acres of the 19-million acres of the
Alaska refuge to oil and gas exploration.
     Bingaman has proposed leasing land in the Gulf of Mexico for
oil production, and that concerns environmentalists.
     ``It would put too much at risk in coastal resources,'' the
NRDC's Campaigne said.

USA: TECO breaks ground on 599-MW Arkansas power plant.

06/05/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, June 5 (Reuters) - TECO Energy subsidiary TECO Power Services held
a groundbreaking ceremony Tuesday on its 599-megawatt natural gas-fired power
plant in Dell, Ark.
Actual construction on the Dell Power Station began in March, the company
said in a statement.
One megawatt provides enough electricity for about 1,000 average homes,
therefore the Dell plant will provide enough electricity for about 600,000
homes.
National Energy Production Corp. (NEPCO), a subsidiary of Houston-based
energy giant Enron Corp. , is building the plant.
The Dell plant, along with a sister plant, the McAdams station in Kosciusko,
Miss., are designed to interconnect with the Entergy transmission system.
Both will sell electricity to wholesale customers in the Southeast and
Midwest, TECO said.
Dell is expected to begin commercial operation in the second half of 2002.
Tampa, Fla.-based TECO Energy units include Tampa Electric, Peoples Gas
System, TECO Transport, TECO Coal, TECO Coalbed Methane, TECO Propane
Ventures and TECO Solutions. TECO Power Services have announced projects to
serve customers in 18 states, spanning the southern half of the U.S.
TECO Energy has ownership in nearly 11,000 megawatts, operating, under
construction or in advanced stages of development worldwide.
- New York Power Desk, 646 223-6074, fax 646 223-6079, e-mail
Eileen.Moustakis@reuters.com.

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

Reuters to Provide Its Customers With EnronOnline Quotes

06/05/2001
Business Wire
(Copyright (c) 2001, Business Wire)

NEW YORK--(BUSINESS WIRE)--June 5, 2001--Reuters (NASDAQ: RTRSY), the global
information, news and technology group, today announced the launch of a new
service called "EnronOnline Real-Time Quotes." Subscribers of the service
have access on their Reuters screen to real-time EnronOnline quotes for
power, natural gas, crude oil and refined products, bandwidth, metals, coal,
emission allowances, sea freight and weather derivatives. In addition, the
quotes are archived so users can retrieve, track, view and analyze the
information over time using their Reuters desktop tools.
Users - including traders, analysts and others - can view bids, offers, and
midpoints as well as the high, low, closing midpoint and change from the
previous day. Using their Reuters tools, they can create charts, models,
position reports and other analysis. Subscribers will not be able to transact
on the quotes through Reuters.
Phil Lynch, Reuters America Co-Chief Executive Officer, said: "With the
increased volatility in energy markets and the growth in online commodities
trading, the EnronOnline Real-Time Quotes service will provide a
comprehensive source of market pricing for our customers."
Subscriptions to EnronOnline Real-Time Quotes are available to Reuters
customers globally. The service provides quotes on North American and
European markets. Quotes are available in real-time during EnronOnline's
market hours. In global markets such as crude oil, quotes are updated 24
hours a day, seven days a week. More information on this service is available
at www.reuters.com/enrononlinequotes.
Since the November, 1999 launch of EnronOnline, the world's largest commodity
trading website, customers have completed over one million transactions on
the site. Today, EnronOnline transacts over $3 billion daily in energy and
other commodities.

Note to Editors:

Reuters (www.about.reuters.com) premier position as a global information,
news and technology group is founded on its reputation for speed, accuracy,
integrity and impartiality combined with continuous technological innovation.
Reuters strength is based on its unique ability to offer customers around the
world a combination of content, technology and connectivity. Reuters makes
extensive use of internet technologies for the widest distribution of
information and news. Around 73 million unique visitors per month access
Reuters content on some 1,400 Internet websites. Reuters is the world's
largest international text and television news agency with 2,500 journalists,
photographers and camera operators in 190 bureaux, serving 160 countries. In
2000 the Group had revenues of (pound)3.59 billion and on 31 December 2000,
the Group employed 18,082 staff in 204 cities in 100 countries. Reuters
celebrates its 150th anniversary this year.

Reuters and the sphere logo are the trademarks of the Reuters group of
companies.

EnronOnline is a trademark of Enron Corp.

CONTACT: Reuters Nancy Bobrowitz / Felicia Cosby 646-223-5220 / 646-223-5223
nancy.bobrowitz@reuters.com felicia.cosby@reuters.com or Middleberg Euro RSCG
Bill Ferguson / Ayesha Talwar 212-699-2742 / 212-699-2741
williamf@middleberg.com ayesha@middleberg.com
14:07 EDT JUNE 5, 2001

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

UK: Intl bonds-Telecoms suffer despite positive market.

06/05/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, June 5 (Reuters) - European telecoms firms were hit by rumours of new
issuance and profit taking in the international bond markets on Tuesday while
other industries enjoyed stable prices on good market sentiment.
The Reuters CorpTop index and traders had telecoms spreads - the difference
between the yield on corporate and similarly dated government bonds - between
two and four basis points wider on Tuesday.
Industrial companies and utilities, however, traded two to three basis points
tighter.
The fall in telecoms bonds prices was partly caused by strong indications
from investment banks that Deutsche Telekom is on the verge of launching a
deal for between five and 10 billion euros.
"That rumour has caused some repricing today bu we also have profit taking
after a month-long rally in telecoms prices caused patly by a fall in equity
volatility and partly by a feeling that the harsh part of the storm may have
passed," said one London-based trader.
Telecoms bonds have benefitted from a feeling among many investors that the
immediate danger of credit rating downgrades and further bad news has now
passed.
"Telecoms is a roller coaster but maybe the twists and turns are a little
more gentle than they were four months ago," said one Paris-based trader.
"Also remember that many of these companies are household names and that
attracts the retail market while the possibility of getting a heavier coupon
on further downgrades attracts those out looking for risk," she added.
A good run, however, has triggered some selling as investors look to cash in.
British Telecom's 6.125 percent, February 2006 bond, for example, was trading
two basis points wider on the day, traders said.
Meanwhile, Deutsche Telekom's 6.125 percent July 2005 issue was trading out
seven basis points by 1400 GMT.
Investment banks have been in talks with the German telecom giant for several
months regarding a jumbo bond issue, but Deutsche Telekom's need to make
coupon repayments on outstanding bonds in June and July mean an announcement
is expected soon.
Bankers said they expected the bond to be entirely denominated in euros as
this is where the operator can achieve the best cost of funding.
Deutsche Telekom issued a $14.6 billion transaction last year which was the
largest corporate bond sale ever at the time.
Moody's put Deutsche Telekom's A2 long-term rating on review for a possible
downgrade in March while S&P placed its A-rating on review for a downgrade in
February.
In the primary market insurance firm Swiss Life launched a 300 million euro,
0.50 percent exchangeable bond which can be switched for shares of HSBC
Holdings or Swiss Life itself.
An official from lead manager Lehman Brothers said that the bond was three
times oversubscribed and that a 50 million euro greenshoe - extra bonds held
by the underwriter and released if there is sufficient demand - was also
sold.
The bond was entirely sold to European investors and all buyers where from
major financial institutions, the official said.
Elsewhere in the primary market the European bank for Reconstruction and
Development launched a one billion euro five-year deal. It priced at 52 basis
points over the 4.625 percent May 2006 U.S. Treasury.
Meanwhile, Energy giant Enron sold 10 billion yen due 2004.
British supermarket chain Sainsbury announced that it plans to launch a
benchmark euro bond in the near future. Deutsche Bank and HSBC will lead the
transaction.

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

Natural gas generators considered to ease electricity demand, prices

06/05/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

EUGENE, Ore. (AP) - Natural gas generators could ease demand and prices for
electricity in the southern Willamette Valley, where businesses and utilities
are bracing for skyrocketing rates and power shortages.
The biggest proposal is a 500-megawatt power plant that Texas energy giant
Enron Corp. may build on industrial property in the Coburg area, possibly on
the site where Willamette Industries runs a wood products plant.
By comparison, Eugene and neighboring Springfield use a total of about 450
megawatts.
The rest of the proposals are for smaller operations that mostly would be
connected to local businesses and mills.
"Everyone's looking for power," says Frank Lambe, general manager of the
Emerald People's Utility District.
Even if the Enron plant is built within Emerald's service territory, it
doesn't mean the local utility would get any of the power.
Enron, with revenues of more than $100 billion, typically sells power to the
highest bidder.
In fact, an Enron plant likely would require Emerald to buy another 10
megawatts of electricity on the open market to run the plant's lights,
heating and other needs.
Emerald board member Katherine Schacht, who represents the Coburg area, said
she's concerned that the power from the Enron plant would go to California
rather than helping meet local energy needs.
She also said "there are a lot of questions that need to be asked and
answered" about the plant's impact on water, air quality and other issues.
The Enron plant would be similar to those now under construction in the
Hermiston area and in Klamath Falls. Those plants are several stories high,
emit large amounts of carbon dioxide and consume between 2,000 and 2,400
gallons of water a minute.
Carbon dioxide, a greenhouse gas, isn't a regulated pollutant.
Enron and the businesses considering their own generators would buy natural
gas from the main north-south pipeline that runs down the Willamette Valley.
The plans are only preliminary, but they illustrate growing concern about
future price increases that could reach 100 percent this fall and worries
that the region will suffer energy shortages for the next several years.
Many businesses also see a chance to make money by generating electricity in
a market with wholesale prices that have jumped over $300 a megawatt - 10
times the going rate a year ago.
Enron hasn't applied for any permits for a plant in the Eugene area, nor has
the company given the state an official notice that it intends to build the
plant.
But Enron has notified the Bonneville Power Administration, the federal power
marketing agency in Portland that supplies the Northwest with half its
electricity, that it is considering building the plant.
If Enron does build a plant in the Eugene area, it would need a permit from
the Lane Regional Air Pollution Authority to emit nitrogen oxides and any
other contaminants.
A large plant also would need approval from the Oregon Energy Facilities
Siting Council, as well as local jurisdictions if it requires land use
changes.

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

Waste Management to Start Trading Pulp and Paper (Update1)
2001-06-05 16:15 (New York)

Waste Management to Start Trading Pulp and Paper (Update1)

     (Adds closing share price.)

     Houston, June 5 (Bloomberg) -- Waste Management Inc., North
America's largest trash hauler, formed a pulp- and paper-trading
group to help control the risk of price swings from its recycling
business.
     The largest recycling company, Houston-based Waste Management
expects trading to begin in the third quarter, the company said in
a Business Wire release. It runs 190 facilities for collecting
such items as paper, plastic, glass and aluminum.
     Trading will begin gradually as the company emphasizes
management of the 4 million tons of paper it handles annually,
President A. Maurice Myers said in the statement.
     Other companies also have begun trading in pulp and paper
items such as old newspapers and corrugated containers. Enron
Corp., an energy-trading and pipeline company, is applying its gas-
and power-trading models to paper. It owns a newsprint mill in
Garfield, New Jersey, and another in Canada.
     Waste Management shares rose 56 cents to $28.40. The company
had sales of $12.5 billion last year.

Profile: Power Play, Who's to Blame for the Energy Crisis?; Lowell Bergman,
"Frontline" correspondent, Laura Holson and Joseph Kahn, The New York Times,
discuss the energy crisis

06/04/2001
ABC News: Nightline
(c) Copyright 2001, American Broadcasting Companies, Inc. All Rights Reserved.

Announcer: June 4th, 2001. CHRIS BURY host:
Rolling power blackouts, bankrupt utilities, skyrocketing electricity prices.
Unidentified Man #1: It is the most volatile commodity in the world.
BURY: Are power generators gouging consumers?
Unidentified Woman #1: I think it's pretty appalling that the folks who sell
us power can charge whatever they want.
Mr. KENNETH L. LAY (Chairman, Enron): And every time there's a shortage or a
little bit of a price spike, it is always collusion or conspiracy or
something. I mean, it always makes people feel better that way.
BURY: And right in the middle, a federal agency you've probably never heard
of.
Mr. CURTIS HEBERT (Chairman, Federal Energy Regulatory Commission): They
didn't build this monopolistic system overnight, and we won't change it
overnight either.
BURY: Tonight, Power Play, Who's to Blame for the Energy Crisis?
Announcer: From ABC News, this is NIGHTLINE. Substituting for Ted Koppel and
reporting from Washington, Chris Bury.
BURY: California is known as the great American incubator. From hem lines to
Hula-Hoops, the Golden State gives birth to trends that often spread east.
That is why so many states are paying close attention to California's
troubled attempt at deregulating electricity. Last week, California Governor
Gray Davis asked President Bush for help in the form of a price cap on power
companies. The president said no. Now Governor Davis is threatening to sue
the federal agency that regulates electricity prices. More on that later.
But first, the results of a new ABC News/Washington Post poll. It suggests
that President Bush is developing an energy problem. When asked what they
think of the president's performance on energy, a clear majority, 58 percent,
say they disapprove. That's up 15 percent since Mr. Bush released his energy
plan. When asked if they think the United States is heading into an energy
crisis, six in 10 Americans answer yes.
TEXT:
ABC News POLL The Washington Post
Margin of Error +-3.0%
How do you rate the president's performance on energy?
June 3 May 13
Disapprove 58% 43%
Do you think the US is heading into an energy crisis?
Yes 61% No 36%
BURY: California is already there. For months now, The New York Times and the
public broadcasting program "Frontline" have teamed up to investigate. Their
collaboration, "Blackout," airs tomorrow night on many PBS stations. It
documents a colossal mismatch in the brand new game of buying and selling
power on the open market. It's like the New York Yankees against the Toledo
Mud Hens.
Unidentified Woman #2: We didn't use his five because their minimum was, you
know, higher than what we were willing to pay.
Unidentified Man #2: I'll sell you 108 now.
BURY: (VO) On one side, companies such as Enron, the Texas energy broker,
trade electricity like any other commodity. A sophisticated trading operation
buys and sells billions of dollars worth of energy every day. It's the
largest company of its kind in the world.
Unidentified Man #3: See what I'm saying?
KELLY: CRS. This is Kelly.
BURY: (VO) On the other side, in this converted department store in
Sacramento, is California's trading team.
Unidentified Man #4: This is the operations center. This is the--this is the
location where we make energy purchases and fill the state of California
energy requirements.
BURY: (VO) Here, employees drafted from the state's water department go
head-to-head with the pros from Enron and other companies. Since 1999, the
cost to California has skyrocketed from $7 billion to an estimated $60
billion this year, an increase of 750 percent. And the demand for
electricity, up less than 5 percent.
(OC) In their documentary, reporters for The New York Times and "Frontline"
address a fundamental question, who's to blame? Narrating this segment is
"Frontline" correspondent Lowell Bergman.
Unidentified Man #5: Our forecast reserves look like they'd be pretty thin
over the peak as well.
Unidentified Man #6: How much is...
LOWELL BERGMAN reporting:
(VO) The power industry blames the high prices on shortages brought on by
California's failure to build any major power plants over the last decade,
despite a booming economy.
Mr. LAY: I mean, we have a supply/demand imbalance. Too much demand, too
little supply in California.
BERGMAN: (VO) Not everyone agrees. Consumer advocates in California accuse
the generators of actually withholding supply.
Ms. NETTIE HOGE (Executive Director, TURN): The idea that all of a sudden we
had a supply crunch is preposterous. What happened is, all of a sudden, the
new plant owners and the traders, like Mr. Lay's organization, looked at the
data and figured out how to manipulate the market. As soon as that happened,
the prices never went down again. If it was totally a supply problem, why
would we have excess prices at 5:00 in the morning on Christmas Day when
nobody but Santa is working?
BERGMAN: (VO) The generators, in turn, say they shut down plants for routine
winter maintenance.
Mr. LAY: Every time there's a shortage or a little bit of a price spike, it's
always collusion or conspiracy or something. I mean, it always makes people
feel better that way.
BERGMAN: But you know as well as I do that the price--it's nice for a
business.
Mr. LAY: Yeah.
BERGMAN: You're in the business of--of making money for your shareholders.
Mr. LAY: Mm-hmm.
BERGMAN: Right, as a company?
Mr. LAY: Yeah.
BERGMAN: So you would be foolish, as you said, to turn down the kind of money
you could make this past winter in California. Is--isn't there a...
Mr. LAY: I--I--I think you put words in my mouth out there.
BERGMAN: OK.
Mr. LAY: I said we--we made some money in California. We made some money
across the country and around the world. I mean, and as I tell my friends in
California, Enron was doing quite well before California imploded.
Unidentified Man #7: So you can't blame the Enrons. I mean, they're the
guys--that's--that's what they do. They try to make as much money from the
money that they get invested. You blame the regulators.
BERGMAN: (VO) Across the country, tucked in an out of the way building behind
Union Station in Washington, DC, sits the Federal Energy Regulatory
Commission or FERC. FERC's commissioners are appointed by the president and
control a $250 billion energy sector critical to America's economy. With the
coming of deregulation, state control over wholesale electricity rates passed
to the federal government, making FERC the final arbiter of just and
reasonable rates. It's a power FERC has been reluctant to use.
Curt Hebert is a protege of Senator Trent Lott, who convinced President
Clinton to appoint Hebert to the FERC in 1997. In January, President Bush
made him the FERC chairman, and Hebert has made no bones about where he
stands on free markets.
Mr. HEBERT: The rules of competition govern that economies work, that choice
works. It's why we're American. We inherently like choice. It's why we left
the mother country. We didn't like the rules they were setting. We wanted to
make our own rules. We want our own choices and we believe that works.
BERGMAN: OK, but is electricity different?
Mr. HEBERT: It's a transition . It takes some time. Look, they didn't build
this monopolistic system overnight, and we won't change it overnight either.
Mr. WILLIAM MASSEY (FERC Commissioner): Without some effective price control
this summer, I fear for the worst.
BERGMAN: (VO) William Massey is a FERC commissioner, a Democrat, who has
found himself in opposition to his chairman.
Unidentified Man #8: Mr. Massey, what is the nub of the disagreement that you
have with Mr. Hebert?
Mr. MASSEY: I think what it boils down to is a philosophical disagreement
about the role of my agency in ensuring just and reasonable prices.
I think it's long past time for this agency to step in and--and impose a
temporary time out on the markets.
Mr. HEBERT: Well, that is the problem because these people are saying
temporary, but they don't mean temporary. It's kind of like the temporary
rent control you have in New York. It's not temporary at all. Matter of fact,
you know, in Washington, DC, we don't do temporary very well, and that's a
problem.
BERGMAN: (VO) In fact, late last year, after six months of unrelenting high
prices in California, the FERC finally did declare California's rates unjust
and unreasonable, but took no action.
Governor GRAY DAVIS (Governor, California): So they found these people guilty
a year ago. They just haven't agreed on the sentence.
BERGMAN: Well, we talked with Curt Hebert. And we got...
Gov. DAVIS: Well that's, you know.
BERGMAN: That's what?
Gov. DAVIS: Lots of luck.
BERGMAN: What do you mean, "Lot's of luck"?
Gov. DAVIS: Because...
BERGMAN: He's the federal--he's the guy you are turning to to give you the
money.
Gov. DAVIS: He is the chairman of the commission. But he has not been overly
sympathetic to California. He's more of an ideologue than a problem solver.
BERGMAN: Well, he's saying you just want him to give you short-term relief,
price caps, which won't solve the problem.
Gov. DAVIS: Problems meaning fattening the balance sheet of already
enormously wealthy energy companies.
BURY: How much blame do the energy companies really deserve?
BERGMAN: Watch your--your heating bills, your natural gas bills, which are,
to a certain extent, reflected in your electricity bill. And don't think that
this couldn't happen where you are.
BURY: And how much of this energy crisis did California bring upon itself?
Those questions when we come back.
Announcer: This is ABC News: NIGHTLINE, brought to you by...
(Commercial break)
BURY: Joining us from Boston, Lowell Bergman, the correspondent for
tomorrow's "Frontline" broadcast. From our Los Angeles bureau, Laura Holson,
a business correspondent for The New York Times, who's been covering the
California energy crisis. And here in Washington, Joe Kahn, who reports on
energy and economics for The New York Times.
Laura, just before the break, we heard California Governor Davis blaming the
energy companies and the federal regulators. How much of his argument is
sinking in. In other words, whom do Californians blame for this?
Ms. LAURA HOLSON (The New York Times): The interesting thing is Californians
blame everybody for this ap--for what has happened with the energy crisis.
They blame the governor for not responding quickly enough to a crisis that
started, you know, a year ago, if you really, you know, look at when prices
starting going up. They are angry at their utilities who they feel have
failed them. They have often had very close kind of paternal relationships
with their utilities and they feel that they've been cheated. And they are
very angry with the power generators, in particular, who they feel are
charging them just exorbitant amounts for energy.
In particular, there was a company last week, a power generator that said it
charged consumers, rather the utilities, 4,000, nearly $4,000 per megawatt
hour, which is enough to light a thousand homes for one hour. And when they
heard this, they were outraged. They just thought, you know, `How can this
be? How can we get,' in their terms, kind of ripped off by power generators
who are using them to make, you know, a lot of money.
BURY: Joe Kahn we heard those poll numbers from this survey out tonight
suggesting that President Bush has a bit of a public relations problem on
energy. How is that going to affect the politics here in Washington?
Mr. JOSEPH KAHN (The New York Times): Well, clearly the--President Bush and
the White House are calculating that by the time people have to go to the
polls to select a new president, a slew of new power plants will be online in
California. Electricity prices, presumably, will come down quite a bit and
their free market stance on this will not ultimately cost him at the polls.
It's not as clear that Republicans in the Congress have the same commitment.
This has already been a very turbulent time in Washington with the Democrats
now in control of the Senate. I think you can expect to see a legislative
initiative by the Democrats to introduce some kind of price caps in
California. Some Republicans may sign on to that. Some have already indicated
that they will. It's going to be a real knockdown political flight--fight in
Washington over what the strategy ought to be.
BURY: Lowell Bergman, talk a little bit about that free market activity that
Joe just mentioned. We saw the clip from your documentary with the--the
traders from Enron pitted against the--the buyers from California. And I must
say, it really did look like a mismatch.
BERGMAN: Well, in fact, some of the people at Enron told us that they welcome
the day when PG&E and Southern California Edison, the regular utilities get
back in the marketplace because they do feel like they've got them, if you
will, outgunned. And--but I should point out to the audience, that when Laura
was talking about this $3800 a megawatt hour, which was Duke Energy Company,
the normal price, if you will, the standard price for a megawatt hour was
around 40 or less. So the level of profit that we're talking about is what
people are upset about. And the problem here is--is primarily that in a free
market and the way that the marketplace in California is set up in
particular, there's no limit to what could be--could be charged when you get
close to that area of scarcity with electricity. Electricity truly is
different and as Jeff Skillings says in our documentary, he's the CEO of
Enron, it is the most volatile commodity in the world.
BURY: Yet, at the same time, Joe, we are seeing electricity traded as if it
were oil or soybeans or steel. I mean, how is electricity different?
Mr. KAHN: Well, for economic reasons, it's different in a--in a couple of key
respects. For one thing, it's an absolutely vital commodity. People aren't
prepared to do without it. Moreover, electricity powers every other part of
the economy. So, it's one of these sort of fundamental rights that we have.
In fact, as far back as the New Deal, Franklin Roosevelt made clear that
electricity was so important that it would be subject to federal legislation
guaranteeing everybody in this country just and reasonable electricity
prices.
BURY: But just and reasonable electricity prices, Laura, do you want to pick
up the question of well, who determines what's just and reasonable here?
Ms. HOLSON: Well, it's very clear that President Bush believes that the
market, you know, sets what's just and reasonable. And, you know, that has
not been what Governor Davis has said at all. He believes that because this
is a commodity that people, you know, believe is guaranteed that there should
be some price cap on it. It's an interesting, if you will, situation when
business and politics kind of intersect. Governor Davis said very early on
that he did not want two things to happen in California. One is that the
utilities would go bankrupt and the second was that rates would be raised for
consumers. And he's in a very tight spot right now because those two things
that he did not want to happen indeed have happened. And it only looks like
it will get worse this summer when experts have said Californians can expect
another 260 hours of blackouts.
BURY: Laura, we have to take a break. But when we come back, we want to
address the question of whether power companies are doing what just comes
naturally to them. Back with our guests in a moment.
(Commercial break)
BURY: We're back with "Frontline"'s Lowell Bergman and Laura Holson and Joe
Kahn of The New York Times.
Joe, aren't these power companies doing exactly what they are supposed to be
doing, which is maxi--maximizing profits and to get the biggest return for
their shareholders?
Mr. KAHN: Sure. That's their responsibility. They--they have no excuse for
arbitrarily lowering the price that they could charge for electricity if the
market will bear a higher price.
BURY: Lowell Bergman, in your documentary, do you find any evidence that the
power companies are--are gouging consumers or doing anything illegal?
BERGMAN: Well, illegality, no one really has any serious evidence, although
there have been lots of allegations and there's been lots of speculation
about it. But we should also point out in the documentary and in The Times
that some of the companies are starting to realize, it seems, that even
though they are owed hundreds of millions, in some cases $500 million or more
still by these bankrupt utilities, they're going to have to take a hair cut
as Governor Davis describes it. They're going to have to make some bargain.
And I think we may...
BURY: Let me jump in there. What do you mean they're going to have to get a
hair cut?
BERGMAN: Well, apparently, that's Governor Davis's way of telling them that
they're going to have to take less to a--less than a full dollar payment for
what they are owed, and that there has to be some kind of settlement here of
between the various parties, other we're not--otherwise we won't see any
progress.
BURY: Lowell, one of the old cliches in investigative reporting is follow the
money. And much has been made of this argument that the Bush administration,
accusations have been made, that the Bush administration is too cozy with the
power companies and the power company regulators. What did you find in your
reporting?
BERGMAN: Well, we found that Vice President Cheney was very up front about
it, I mean, about his relationship with Ken Lay, the head of Enron, the fact
that he built a stadium for Enron when he was head of Halliburton. You know,
the vice president is the first CEO of a Fortune 500 company to hold
presidential office in the history of the United States. So--but they are
very open and up front and balance this relationship with their friends and
with the people who they feel comfortable with.
BURY: Laura Holson, this idea that so many Texas companies are profiting from
California's misery, as it were, I suppose Californians find that
particularly infuriating.
Ms. HOLSON: It's funny, in the San Francisco Bay area when I was growing up
near there, there was this great rivalry between the San Francisco 49ers,
which is, as we all know, a football team and the Dallas Cowboys. And that
seems to be replaced, if you will, with consumers in California who look at
Texas gen--at, you know, a lot of the power generators, which are based in
Texas, and who they feel now are just, you know, making a lot of money off
them. It's--there's always been a rivalry between those two states. And now I
think it's deeply personal because it's hitting consumers, or as they believe
it, it's hitting them in their pocket books.
BURY: Joe Kahn, how long before these new power plants are going to be coming
on line? And before they do, or in the time before they do, what--what is it
that the federal government can do to help California out?
Mr. KAHN: Well, it--it will probably be about 18 months before sufficient new
power comes online in California to start substantially changing the supply
and demand equation there. And that's a very speedy pace. That's with a very
expedited permit process for new plants. The governor in California has put a
lot of effort into building new plats--plants quickly.
BURY: So what happens between now and then?
Mr. KAHN: Well, that's the question. That's the debate. The Federal Energy
Regulatory Commission has the power under the Federal Power Act, in fact some
people argue it has the obligation under the Federal Power Act to ensure that
just and reasonable electricity rates prevail in California at all times. It
can't just selectively choose the times. And it has already found at the end
of last year that rates in California are unjust and unreasonable.
BURY: So what's it doing about that?
Mr. KAHN: Well, it's--it's tried a variety of compromise measures so far,
very limited price controls on certain kinds of electricity sales during
emergency hours. So far that appears to be an insignificant contribution to
reducing the overall electricity bill in California.
BURY: Laura, Governor Davis is demanding wholesale price controls. President
Bush has made it pretty clear that he's not going to lean that way. What
options does Governor Davis have?
Ms. HOLSON: You know, it's--again he's stuck in this place where it--it
doesn't look like he's got any kind of real out. I mean, he can try to
demand. He can demand as much as he wants from the power generators, but if
the federal government doesn't step in, he really can't do anything. The
interesting thing, at least I see kind of going forward, is how Californians
have really adapted to a really, you know, awful situation. There's a law
that's being proposed right now in California in which businesses will know
months in advance whether their neighborhood is going to be impacted by a
blackout so they can plan. I mean, we've almost turned into--if anybody
remembers traveling through Italy during their college days, you always kind
of knew when the airlines or the trains were going to go on strike because
they told you a day ahead of time. And that's very much what's happening in
California where they're warning people, you know, two days, an hour, you
know, one day ahead of time so that they can prepare.
BURY: That's a pretty dark scenario. Lowell, we just have a few seconds left,
what lessons should the rest of the country take from California's crisis?
BERGMAN: Well, watch your--your heating bills, your natural gas bills, which
are to a certain extent reflected in your electricity bills. And don't think
that this couldn't happen where you are. And I think that the industry itself
is beginning to understand that the crisis in California may, in fact, impact
on the future of deregulation nationally.
BURY: Lowell Bergman, Laura Holson, Joe Kahn, thank you so much for joining
us tonight.
BERGMAN: Thank you.
Mr. KAHN: Thank you.
Ms. HOLSON: Thank you.
BURY: When we come back, an update on a NIGHTLINE broadcast from just over a
month ago.
Announcer: To receive a daily e-mail about each evening's NIGHTLINE and a
preview of special broadcasts, logon to the NIGHTLINE page at abcNEWS.com.
(Commercial break)
BURY: In May, we profiled the case of death row inmate Johnny Paul Penry,
convicted of murdering the sister of a former pro football player. Today, the
Supreme Court overturned Penry's death sentence. It ruled, six to three, that
the jury did not have clear instructions on how to weigh his mental
retardation when it sentenced him. The court will take up the broader issue,
whether executing the mentally retarded is cruel and unusual punishment, in
its next term.
That's our report for tonight. I'm Chris Bury in Washington. For all of us
here at ABC News, good night.

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


between 8 & 9.  who all is even going on this thing now?


here you go you democrat.......................

www.gorelieberman-2000.com/


Lloyd,

No problem. I wanted to make sure that everybody realizes how
detailed-oriented our tasks are
and that we have to be in direct communication with our counterparties.

Vince

	Enron Capital & Trade Resources Corp. - Europe

	From:  Lloyd Fleming                           07/14/2000 10:40 AM

To: Vince J Kaminski/HOU/ECT@ECT
cc: Richard Sage/LON/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Anjam
Ahmad/LON/ECT@ECT, Bjorn Hagelmann/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT, Dale
Surbey/LON/ECT@ECT, Stinson Gibner/HOU/ECT@ECT
Subject: Re: Agenda for NY MG Metals Visit

Vince,

I certainly think Anjam & Tanya should visit NY, but I simply had a concern
that some of the questions being asked had already been covered by Anjam /
myself and Andreas but had somehow not been communicated.

My message was not intended to convey any another impression.  I've also now
spoken with Anjam & Tanya and clarified this.

regards

Lloyd

Vince J Kaminski
14/07/2000 15:04
To: Lloyd Fleming/LON/ECT@ECT
cc: Richard Sage/LON/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Anjam
Ahmad/LON/ECT@ECT, Bjorn Hagelmann/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT, Dale
Surbey/LON/ECT@ECT, Stinson Gibner/HOU/ECT@ECT

Subject: Re: Agenda for NY MG Metals Visit

Lloyd,

Speaking from experience, I think that it's critical for Tanya and Anjam to
visit MG in New York
and establish direct relationship with technical people. Merging two risk
management systems
requires handling many very technical issues and face to face discussions
between IT and quants
 will be very helpful.

Vince

	From:  Lloyd Fleming                           07/14/2000 03:42 AM

To: Tanya Tamarchenko/HOU/ECT@ECT
cc: Andreas.Barschkis@mgusa.com @ ENRON, Richard Sage/LON/ECT@ECT, Vince J
Kaminski/HOU/ECT@ECT, Anjam Ahmad/LON/ECT@ECT, Bjorn Hagelmann/HOU/ECT@ECT,
Ted Murphy/HOU/ECT@ECT, Dale Surbey/LON/ECT@ECT, Stinson Gibner/HOU/ECT@ECT
Subject: Re: Agenda for NY MG Metals Visit

Tanya,

I think most of your queries can be dealt with on the phone - I'll be at MG
with Andreas today and we'll call you.   Most of these points have already
been covered with Anjam in any case.  I'm also attaching a file downloaded
from Mercur (MG's risk aggregation system) showing monthly total positions
for each metal in each entity.  You can fairly easily create tables and graph
what you want to see.  We can talk today about getting a full deal download.

Regards

Tanya Tamarchenko
13/07/2000 22:45
To: Andreas.Barschkis@mgusa.com @ ENRON
cc: Dale Surbey/LON/ECT@ECT, Lloyd Fleming/LON/ECT@ECT, Richard
Sage/LON/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Anjam Ahmad/LON/ECT@ECT,
Stinson Gibner/HOU/ECT@ECT, Bjorn Hagelmann/HOU/ECT@ECT, Ted
Murphy/HOU/ECT@ECT

Subject: Agenda for NY MG Metals Visit

Hi Andreas,

Here are the issues we would like to discuss on our Thursday meeting in NY:

1. Inputs for options valuation, in particular the origins of volatility
curves;
2. Information on exotic options structures (existing & potential);
3. The data flow (are we going to get data from London or NY).
4a. Storage of positions information at  MG. How to extract the positions
info from
MG database into spreadsheets.
4b. Existing positions structure for each metal.
5. Introduction to concentrates trading business, key personnel.

Best Regards,

Tanya & Anjam

713 853 3997


I need Joann to pull total 25,000 out of storage for 2/25. Joann already has
15,000 scheduled. I'll schedule 20,000 for choice. We'll be short about 3000,
but I was over about 5000 on 2/24. We will have to keep watching the numbers,
but we should be close to making your 48,000 /day target. Thanks for keeping
us in the loop!!!!

dkinney@columbiaenergygroup.com on 02/24/2000 09:24:28 AM
To: " - *Joann.collins@enron.com" <Joann.collins@enron.com>, " - *Porter,
Jeffrey" <jporte1@columbiaenergygroup.com>, " - *Destephanis, Kara"
<kdestep@columbiaenergygroup.com>, " - *Stiles, Marianne"
<mstiles@columbiaenergygroup.com>, " - *joan.veselack@enron.com"
<joan.veselack@enron.com>
cc:

Subject: TCO storage withdawals

I just spoke with Joan regarding the withdrawal and disposition of our TCO
storage gas for the rest of February.  Here is the situation:

*We will continue to target a storage withdrawal of 48,000 dth/day for the
rest
of Feb., which will likely exceed the COH Choice requirements over this
period.  (The estimated Choice requirement for 2/25 is 19,296 dth.)
*Marianne will be able to draw 7,710 Dth per day of the Storage withdrawal not
needed for Choice to make up her bank balance in CMD 4 Mkt area 25 over the
last 5 days of February.  She will also get an additional 820 dth/day of this
gas over the same period to make up the bank balance in CMD 8-27.
*Kara may need 2000 dth of the 2/25 excess for BGE.  (She or I will call
Joanie
as soon as we know the need here.)
*Any volumes left over will go to Joann for the other CES enduser Market.

I hope that works for everyone.   In any case, we will review the situation
again tomorrow.

Doug Kinney
Ph:  703-561-6339
Fax:  703-561-7317


Twanda Sweet 39402)


Ginger:  would you please distribute the following memo to the Government
Affairs group.  Thank you!

Congress continues to advance the Electricity Restructuring Legislative
debate.  On Tuesday, June 20th, the Senate Energy Committee plans to mark-up
and pass Senator Gorton's Reliability bill including the consensus state
savings clause language.  Attached below (attachment 6-17 jt.st.wpd) is the
46 page joint Senate staff draft which represents agreement in many areas,
but the differences remain significant.  No agreement was reachable at this
time in Committee on the extent of FERC jurisdiction to prevent unreasonable
differences between wholesale and retail service nor reached on the RPS.
Although the 46 page draft includes language on PURPA, Reciprocity ,Consumer
Protection, Interconnection, etc.; currently only two Senators support the
additional language included in the 46 pages; thus, the only chance of moving
through the Senate Energy Committee this year is to pass Reliability-only
now.  With the make-up of the Senate Energy Committee, our strategy is "to do
no harm" in committee thus, making the reliability language-only option
acceptable as a means to an end.  Enron does support the Reliability bill but
we will insist on adding transmission access and functional separation
language later in the process while EEI will insist on adding PUHCA while
APPA will insist on adding Private Use (thus, we can see what the final
consensus will look like; plus we have been involved in drafting the
consensus in all these provisions.....but timing and sequence are crucial.)

It might be helpful to remind everyone that the bills leading up to the
Energy Policy Act of 1992 as passed by the Committees were also amended in
Conference since it was impossible to garner the necessary Committee votes or
survive a Senate filibuster with any Committee-included wheeling language.
Transmission wheeling/ access language was successfully added in Conference.
Thus, the sequence of adding our necessary provisions remains key to a
successful strategy then as it does now.

Also attached is Chairman Bliley's Reliability and Transmission discussion
draft (section by section, summary and 005_PDF).  This is the foundation from
which he is willing to add additional consensus amendments. From Enron's view
,this foundation draft is our exact wish list to clarify FERC jurisdiction
over both bundled and unbundled transmission (although we have suggested a
few technical drafting points which have already been conveyed to staff.)  It
is important for all of us to convey our support for this draft as the
essential foundation for the bill.  Mark-up  will likely be scheduled to
occur during  the week of June 26th.

It is important to note that Subcommittee Chairman Barton is philosophically
opposed to the Bliley/Enron "pro-FERC" approach.  As such, he has asked Texas
PUC Chairman Pat Wood and Oklahoma Corporate Commission Chairwoman Denise
Bode to draft a compromise to lighten the FERC authority in favor of a more
Regional Approach.  I just got off the phone with Pat who walked me through
the draft he was submitting this evening to Barton (once it is officially
transmitted, I will be able to get a copy to you, likely on Monday or
Tuesday.)  From Pat's description, we should be able to be supportive since
he shares our views about  wholesale markets needing federal authority.   He
discussed a draft that mandates RTO participation, a seven point mandatory
RTO test  filed at FERC in 60 days after enactment, Ratemaking established by
the state but allowing FERC appeal, allowing FERC appeal if 2/3rd's
disagree,  State authority but also ongoing FERC authority with an expedited
dispute resolution process.  The seven point mandatory filing details are 1.
full wholesale competition under the same terms, rates and conditions; 2. RTO
sole functional control of transmission; 3. functional separation of
generation from transmission; 4. curtailment on non-discriminatory basis; 5.
all transmission uses disclosed and transparent (889); 6. constant assessment
of construction needs; and 7.  remedy and emergency authority for dispute
resolution.  He mentioned Denise's insistence for interconnection on a
non-discriminatory basis which he feels is adequately addressed in their
draft.

From Pat's discussions with Reliant on his draft, they again spoke in support
of Enron's transmission open access goals.  TXU remains concerned that ERCOT
will be pulled under FERC jurisdiction in the draft.  But, it is Pat's view
that this already has happened under the state law.

Our goal next week is to lock-in bipartisan House Committee support and House
Leadership support for the mark-up plus tighten the mark-up process so it is
transparent to all; plus to pass the Senate Committee bill.   A bill to meet
our established goals is still doable this year.  My strategy was always
based upon the necessity to lead with the reliability language in order  to
create a legislative vehicle for us to include our non-discriminatory
transmission access provisions.    Please call should you need clarification
or have questions.  Many thanks for your continued support.

 - sectionbysection.wpd - summarydoc.wpd - 005_.PDF


Louise Kitchen will be in my office (EB3889) this afternoon at around 3:00 to
answer any last minute questions you may have in preparing your online GTC's.

Mark


FYI
---------------------- Forwarded by Mark E Haedicke/HOU/ECT on 01/07/2000
02:18 PM ---------------------------

Sheila Walton
01/07/2000 01:22 PM
To: Raymond Bowen/HOU/ECT@ECT, Timothy J Detmering/HOU/ECT@ECT, Jeff
Donahue/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, John Hopley/HOU/ECT@ECT,
Stephen R Horn/HOU/ECT@ECT
cc: Irma Alvarez/HOU/ECT@ECT
Subject: URGENT: Bonus and Merit Key Dates

I have attached a planning schedule that I will be following in HR for the
1999 Bonuses and 2000 Merits.  Please remember that this schedule depends on
several parties so some deviations may occur.  I have also attached some
basic questions and answers that many employees ask.  Please call me at Ext
30649 or my assistant Irma at Ext 31543 if you have any questions or
concerns.  Also, I will ask you to pass this information to any of your
direct reports which may need it.


Thanks to all of you for the kind words and very thoughtful flowers and
wine!  We enjoyed both as we watched our 27th snowstorm of the year this
weekend.  (Houston's looking better and better with each blizzard).  DF


Varsity called and the water pump needs to be replaced.

It is going to be $700. I told them to go ahead and fix it.

Hope that's OK.

Chris


Ms. Peppers, I am very sorry, but I must once again reschedule the
appointment that you have with Mr. Lay.  He will be out of town the entire
week of September 26.

The first available time to reschedule is October 19, 2000.  Would an
afternoon appointment work for you - about 2:00 p.m.?

I look forward to hearing from you.

Rosalee


Transwestern's average deliveries to California were 908 MMBtu/d (83%), with San Juan lateral throughput at 867 MMBtu/d.  Total East deliveries averaged 536 MMBtu/d.

El Paso's average deliveries to California were 2103 MMBtu/d (72%):
- PG&ETop, capacity of 1140 MMBtu/d, deliveries of 723 MMBtu/d (63%)
- SoCalEhr, capacity 1250 MMBtu/d, deliveries of 945 MMBtu/d (76%)
- SoCalTop, capacity 543 MMBtu/d, deliveries of 435 MMBtu/d (80%)

Friday's posted Gas Daily prices:
	SoCal gas, large pkgs	  2.955 (-.075)
	PG&E, large pkgs	  2.855 (-.165)
	TW San Juan		  n/a
	TW Permian		  2.78 (-.08)

Enron Online bases:
		Dec-Mar		Apr-Oct
Perm-CA	.14 (-.03)	    	.28 (+.02)
SJ - CA	.26 (-.01)  	       	.49 (+.05)
SJ-Waha	.16 (+.02)	       	.25 (+.03)
Perm-Waha	.04 (even)                 	.05 (+.01)


Have you thought any more about coming with me for Thanksgiving?


I wonder is she's related to Linda.....

(Linda Hendersen is a lady that lives in Elkhart Texas and leases from
Bat's father in law.  She not only shoots quality deer year in and year
out, but she even shot someone's beagle and called the number on the dead
dog's tags to complain that her morning hunt had been messed up.)

To:   mark@ddevelopment.com, Andy.hayes@cybersafe.com,
      DLansford@mccmail.com, Don.Baughman@enron.com,
      greadyhunter@hotmail.com, johnc@jcclayton.com, Kenneth D.
      Schall@ANDERSEN WO, mnewman@reliant.com, hrcwc@ntws.net
cc:
Date: 12/18/2001 02:01 PM
From: batoggero@yahoo.com
Subject:  dead eye dick!

check it out:
http://dailynews.yahoo.com/h/nm/20011217/od/deerhunter_dc_1.html

_________________________________________________________
Do You Yahoo!?
Get your free @yahoo.com address at http://mail.yahoo.com

*******************Internet Email Confidentiality Footer*******************

Privileged/Confidential Information may be contained in this message.  If
you are not the addressee indicated in this message (or responsible for
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Opinions, conclusions and other information in this message that do not
relate to the official business of my firm shall be understood as neither
given nor endorsed by it.


FYI---I changed points on this deal from PGTT-TECO Waha 18002800 to PGTT-TECO
Katy 20606100 for the 2nd.  Let me know if you don't agree with this.  The
supply, Duke Field Svs, was originally trying to deliver to HPL at Midtex,
this deal #589257 was also changed to meter 20606100.

Thanks,
Mark


<<CSFB_EnergyTech_dec6.pdf>>

Summary of Energy Technology Bulletin:

* The three-pack of Capstone microturbines capable of generating 90kW
of electricity has surpassed 6,000 hours (9 months) of non-stop operation at
a PanCanadian Petroleum oilfield in Alberta.  Not only has the units
achieved this length of operation, but they have done so at maximum output
with 100% availability.  Owing to their success with these units,
PanCanadian recently placed another three-pack of Capstone microturbines at
their Pelican Lake facility.
* Following the announcement that the exclusive joint development
agreement for fuel processor technology between UOP and Avista Labs
(subsidiary of Avista Corporation) would expire and not be renewed, UOP
intends to offer this fuel processor technology on a non-exclusive basis to
various fuel cell developers.
* Bergerat Monnoyeur Travaux Publics (BME), a Caterpillar dealer in
France, has ordered 51 Active Power flywheels (CleanSource(tm) DC) valued at
$1.4 million.  The units will be used to protect a 10 MW wafer fab facility
owned by STMicroelectronics in that country.

Regards,

Energy Technology Research
CREDIT | FIRST
SUISSE | BOSTON

Marko Pencak (Hardware)
Neil Stein (Independent Power and e-Commerce)
Cameron Jeffreys (Associate)

 - CSFB_EnergyTech_dec6.pdf


Mike, duly noted; however, there will be at this point no change in the scope
and function of Redmond's group.

Thanks
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/10/2000
12:48 PM ---------------------------

Mike Coleman@ENRON_DEVELOPMENT
11/10/2000 12:36 PM
To: ddelain2@ect.enron.com
cc: Wayne Mays/PDX/ECT@ECT, Robert P Virgo/HOU/ECT@ECT
Subject: Enron North America to Enron Americas--Redefinition of Technical
Role?

Dave,

Congratulations on an apparently expanded role.  I know you have a lot more
important issues to deal with at the moment, but will the Enron Americas
organization result in a change in the role of the technical group and
resource requirements?   When you have a chance to discuss the implications
(if any) it might be worth discussing.

Also, on a personal note, if there are new roles associated with the Enron
Americas org for which I might be qualified, I'd certainly be interested in
any new opportunities that come about.

Thanks!

Mike


ED:

A second EWEB question:

EWEB wants the definition of "Applicable Rate"  to remain without changing to
the Non-default Rate if the payee is the defaulting party.  They say they
must have a "balanced rate".  Please let me hear from you.  Sara


I just wanted to confirm that your records show the referenced counterparty
closed for power...?


Calif Regulators Ask Utils For Extensive Financial Info
By Mark Golden
?
10/12/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- The California Public Utilities Commission has
requested extensive financial information from the state's three
investor-owned utilities and their parent companies.
Administrative law judge Angela Minkin ruled the information should be given
in response to a pleading by PG&E Corp. (PCG) and Edison International (EIX),
which want the PUC to change deregulation rules to allow them to recover the
enormous losses they are now incurring in wholesale electricity markets.
"Minkin has directed the utilities by Oct. 17 to go open-kimono with all of
their financial data since 1998 and, in some cases, since 1997," said Daniel
Douglass, a partner in the law firm Arter & Hadden LLP, which is representing
most of the state's independent power producers, the California Power
Exchange and some of nonutility retail electricity providers in the
proceedings.
The judge's request covers numerous revenue accounts, asset values of power
plants still owned by the utilities, documents on assets transferred and
significant payments made from the regulated utilities to unregulated
subsidiaries, bond information, and net earnings for the parent companies and
all subsidiaries for each quarter between 1997 and 2000.
Minkin also requested an itemization of funds paid to and amounts billed by
any entity other than the California ISO, the state's grid operator, and the
California PX, the state's power exchange, for power purchased in California
by the utilities and their affiliates.
In addition, the judge wants a description of all utility affiliates'
activities in California electric markets and signed affidavits by the
utilities' officers attesting to the veracity of the information.
"The information will also permit the Commission to evaluate recent claims to
investors and the media by PG&E and Edison that their power purchase
liabilities have undermined their financial integrity," Minkin wrote in the
ruling. "The seriousness of these claims imposes a responsibility on
regulators to fully evaluate the utilities' financial circumstances on behalf
of utility customers and the state."
A combination of surging wholesale power prices and caps on retail rates has
produced billions of dollars losses at Pacific Gas & Electric and Southern
California Edison, the regulated units of PG&E and Edison International.
The utilities want the ability to recover those losses after the transition
to deregulation and its fixed-rate regime end in 2002.
Failure to supply the information could result in fines, Minkin wrote.
It would also likely jeopardize the utilties' chance of succeeding in getting
the rules changed, Western Power Trading Forum's Douglass said.
"If the utilities want to have these decisions modified, they need to
document the financial straits they're in," Douglass said. "If they don't
provide, they open up themselves up to losing their request."
The extensiveness of the disclosures is similar to that in the subpoenas
issued to many Western Power Trading Forum member companies in other
investigations of California's wholesale power market. Douglass said the
information would be available to all parties to the proceedings.
Douglass said the utilities haven't yet objected to the ruling, which was
issued late Friday.
Southern California Edison declined to comment Thursday.
   -By Mark Golden, Dow Jones Newswires; 201-938-4604;
mark.golden@dowjones.com


Good luck with your meeting.


When do you want to meet?  Give me a few options.

Stephen P. Brown
Financial Consultant
RBC Dain Rauscher
2000 West Sam Houston Parkway South, Suite #1500
Houston, TX  77042
Phone: 713-623-9258
Fax: 713-623-9283
888-246-6675

-----Original Message-----
From: Jonathan.Mckay@enron.com [mailto:Jonathan.Mckay@enron.com]
Sent: Tuesday, February 05, 2002 2:52 PM
To: Brown, Stephen
Subject: RE: Funds From Canada

Hey Stephen,

Glad to hear the funds finally showed up.  It would be helpful to me if
we
could hook back up together in the next little while.  I'd like to get
your
opinion on a few different thoughts that I've had.  I need to do some
"financial planning" so to speak.

Let me know how your schedule is looking

Thanks,

Jon

    -----Original Message-----
   From:   "Brown, Stephen" <Stephen.Brown@Rbcdain.com>@ENRON
   Sent:   Tuesday, February 05, 2002 9:13 AM
   To:     Mckay, Jonathan
   Subject:  Funds From Canada

   Your remaining funds from Canada have arrived into your account.
Give
   me a call when you can.

   Stephen P. Brown
   Financial Consultant
   RBC Dain Rauscher
   2000 West Sam Houston Parkway South, Suite #1500
   Houston, TX  77042
   Phone: 713-623-9258
   Fax: 713-623-9283
   888-246-6675

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


Thanks Gus.

Don, I don't believe it's critical to send an update.  We can cover by verbal
discussions tomorrow.

Mitch

From: Gus Eghneim on 12/06/2000 03:57 PM
To: Mitch Robinson/Corp/Enron
cc: Benjamin Rogers/HOU/ECT@ECT, Don Miller/HOU/ECT@ECT, Gus
Eghneim/Corp/Enron@Enron

Subject: Re:

Mitch - I took out the first sentence from your answer to question #1. The
CFR you wanted to refer to is part 60 and not part 75. In any case, I really
do not think that the part 60 NSPS Subpart GG  limit of 98 ppm applies during
startup and shut down. I believe that we are covered by the provisions of
part 60 Subchapter A, Section 60.11(d) which calls only for good air
pollution control practice to minimize emissions during startup and shutdown.

No short term emission limits apply during startup and shutdown. The only
issue with startup and shut down emissions is that they get counted toward
your total emissions for the year, and you certainly covered this issue in
your last paragraph to question #1.

The revised file is attached.

Gus


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what's up with the chat service? Are we stillon Enron MSN? what's your nick?


The confirmation below is the same for EOL and Non-EOL deals.  The bolded
"EOL identifier" will not pull in if the deals is not done on Enron Online.
This template is straight out of the database, coding included:

Thanks,
Joe

---------------------- Forwarded by Larry Joe Hunter/HOU/ECT on 10/10/2000
03:41 PM ---------------------------
From: Tana Jones on 10/10/2000 03:30 PM
To: Larry Joe Hunter/HOU/ECT@ECT
cc:
Subject: Re: Omnibus

Can you forward alison the template for an omnibus swap.  The attached
appears to be an EOL template.
----- Forwarded by Tana Jones/HOU/ECT on 10/10/2000 03:29 PM -----

	Allison McHenry@EES
	10/10/2000 03:16 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Omnibus

The Confirmation I'm wanting is the other form you gave us which under
General Terms starts with "Notional Quantity per Determination Period". Do
you have it? Thanks.

From: Tana Jones@ECT on 10/10/2000 03:07 PM
To: Allison McHenry/HOU/EES@EES
cc:
Subject: Re: Omnibus

That's what I just sent you....

	Allison McHenry@EES
	10/10/2000 03:04 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: Omnibus

Thanks Tana. Do you also have the Confirmation (SWAP) form that said "EOLID"?
I think that was the form we understood you to say was the "preferred" form.
Thanks again.

From: Tana Jones@ECT on 10/10/2000 02:54 PM
To: Allison McHenry/HOU/EES@EES
cc:
Subject: Omnibus

The omnibus swap below, plus this Annex A make up the "omnibus" confirm.

----- Forwarded by Tana Jones/HOU/ECT on 10/10/2000 02:52 PM -----

	Larry Joe Hunter
	10/09/2000 05:26 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Omnibus

Tana,

Here's a Draft I had in my personal file.  I thought this would be easier
than deleting the coding from the system template

Joe


Bob - Following are the items you requested.  I am least familiar with material numbers.  The one reflected below is the closest I could come to the service being provided.

Cost Center		111004 (TW-Rates)
Company No.		0060 (Transwestern Pipeline Company)
GL Account		52507500 (Outside Services-Other)
Material No.		9000001 (Administrative Services)
 -----Original Message-----
From: 	Thurber, Bob
Sent:	Thursday, January 24, 2002 4:39 PM
To:	Lokey, Teb
Cc:	Miller, Mary Kay; Kissner, Tim; Thompson, Debra; Paschal, Zelda
Subject:	Re: Transwestern Record Storage at Iron Mountain (Omaha)

Teb, As we discussed, the Omaha Iron Mountain storage facility contains some 198 boxes of Transwestern documents. These documents came from Transwestern/Houston originally and related to old certificate and rate filings. Because of the pending acquisition of Northern by Dynegy, Northern needs to isolate our storage records. Consequently, were asking you to retrieve and take ownership of the 198 boxes from the Omaha IM facility. This will involve having Houston Iron Mountain initiating the request for shipping from the Omaha facility and being responsible for the disposition of the boxes when they are received. The estimated shipping costs to Transwestern for the boxes would be approx. $2,200 - $2,400 . The box numbers for the Transwestern records were previously provided to you by letter dated 8/10/01. In addition, would you please provide me your cost center #, company #, GL account # and material # so that the box retrieval fee ($1/box) charged to Northern's account by the Omaha Iron Mountain facility can be cross-charged to Transwestern ?

If you have any questions or if I can assist in facilitating this request, please give me a call.
Thanks,
Bob Thurber


Start Date: 10/7/01; HourAhead hour: 15;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001100715.txt

Error retrieving HourAhead price data - process continuing...


We won't know until February.

Jane Allen
12/13/2000 08:12 AM
To: Louise Kitchen/HOU/ECT@ECT
cc: Jane Allen/HOU/ECT@ECT, Robert Jones/Corp/Enron@enron, Michelle
Cash/HOU/ECT@ECT

Subject: House Lease Termination

On the advise of Michelle Cash, we are sending out letters by Fed Ex today to
both the real estate agent (Greenwood King) and the landlord (Eileen Urban)
giving 30 days notice on termination.  If they come back to us wanting the
remainder of the rent through the lease date of July 14, 2001, we will
negotiate subletting.  Louise, do you still have someone in mind who may be
interested?

Jane J. Allen
Enron Corp
Global Employee Services
Phone - 713/345-5064
Fax - 713/646-9501


Ben/Chris,

Unless something new comes up, I think we finished the letter agreement.  I'm
awaiting a revised draft now, and if it is acceptable to NW, they will sign
it and fax it to me tomorrow morning.

Maybe on Ben's layover we can have a discussion about where we go from here
from a schedule standpoint.

Talk to you tomorrow,

Kay


Energy Central Job Center

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      HOME  | GAS NEWS  | EVENTS  | JOBS  | BUSINESS CENTERS  | DIRECTORIES  | DATA CENTER    THURSDAY, FEBRUARY 7, 2002

 	   THIS ISSUE BROUGHT TO YOU BY       Gain exposure to thousands of energy professionals with your company's white papers today. Energy Central, the industry's most comprehensive on-line information resource is gathering white papers for inclusion the newest section of its Research Report Center. Don't be left out - to learn how to submit your white papers, e-mail mjohnson@energycentral.com. http://www.energycentral.com/sections/research /        TOP STORIES     Georgia Panel Favors Regulated Natural Gas Provider  By Matthew C. Quinn, The Atlanta Journal-Constitution, Feb. 6 A return to a regulated monopoly is not the answer to Georgia's natural gas deregulation problems, but the state should provide for a regulated supplier as an alternative to gas marketers, a blue-ribbon task force said Tuesday.     Aspen, Promax say they plan to merge  TORONTO, Feb 6 (Reuters) Aspen Group Resources said on Wednesday it signed a letter of intent to create an intermediate oil-and-gas company by combining its operations with Promax Energy Inc.     Gas consortium says new line to Europe through Poland will go ahead  Feb 06, 2002 - Deutsche Presse-Agentur (dpa) An international consortium of gas companies will still build a billion-dollar pipeline from Russia through Poland to Western Europe despite confusing signals in Moscow, a German partner said Wednesday.      Enron Debacle      Testimony by Andersen Leader Tries to Downplay Role in Enron Collapse  By David Ivanovich, Houston Chronicle, Feb. 6 The head of Arthur Andersen struggled Tuesday to downplay the auditing firm's role in Enron's collapse.      Benefits Funds May Have Been Illegally Used, Former Enron Employee Says  By Bill Murphy, Houston Chronicle, Feb. 6 A former Enron Corp. accountant on Tuesday said the company may have broken the law by taking $15 million out of employee benefits funds to use on unrelated expenditures.      Enron Executives Explain Actions to Senate Panel over Retirement Plans  By Patty Reinert, Houston Chronicle, Feb. 6 Two Enron executives told a Senate panel Tuesday that they scrambled to protect employees' retirement savings and severance pay as soon as they realized the company was collapsing last year.      Lay Knew Enron Was Misleading the Public, Board Member Testifies  Knight Ridder Washington Bureau, Feb. 6 Kenneth Lay, Enron Corp.'s former chief executive officer, had detailed knowledge of deals that presented a misleading picture of the company's finances to the public, the chief author of a scathing internal report told Congress on Tuesday.      CFO pressured Enron staff on deals, Congress told  By C. Bryson Hull, WASHINGTON, Feb 5 (Reuters) The ousted chief financial officer of Enron Corp.wielded his managerial influence and control over bonuses to persuade underlings to cut favorable deals to partnerships he ran, the head of an internal inquiry into the transactions told Congress on Tuesday.      Former Enron Employees Cool to Idea of Immunity for Executives  By Bruce Nichols, The Dallas Morning News, Feb. 6 There's little sympathy in Enron Corp.'s hometown for speeding investigation of the energy company's collapse by granting criminal immunity to executives in exchange for their testimony.      Congressional Lawmakers Order Former Enron CEO Lay to Appear at Hearings  The Dallas Morning News, Feb. 6 Searching for villains in the collapse of Enron Corp., congressional investigators burrowed deeper into bookkeeping practices and issued two subpoenas to former chairman and chief executive Kenneth Lay.      Enron's Broadband Unit Owes Back Taxes in Harris County, Texas  By Dale Lezon, Houston Chronicle, Feb. 6 One of Enron Corp.'s failed business ventures owes Harris County and other entities about $440,000 in back taxes, said county officials.      Enron Gave `Retention Bonuses' Yet 4,500 Workers Denied Severance  By Patrice Hill, The Washington Times, Feb. 6 Enron Corp. gave $55 million in "retention bonuses" to selected managers two days before filing for bankruptcy protection, but it said it could not provide severance pay to 4,500 laid-off employees, company officials testified yesterday.      Calpers defends decision to keep quiet on Enron  SAN FRANCISCO, Feb 5 (Reuters) - CalPERS, the nation's largest pension fund and a leading champion of corporate transparency, defended itself on Tuesday amid revelations that it knew early on about a problematic Enron partnership but did nothing to make that knowledge public.      Substantial illegal Enron activity found-Tauzin  WASHINGTON, Feb 6 (Reuters) Congressional investigators have uncovered "substantial evidence of illegal activity" by the now-bankrupt Enron Corp. and its management, Rep. Billy Tauzin, chairman of the House Energy and Commerce Committee, said Wednesday.      Canadian Banks Owed Millions of Dollars by Enron   OTTAWA, February 6, 2002 (Xinhua via COMTEX) -- A Canadian connection has turned up in the notorious Enron affair in the United States, it is reported here Wednesday.      Andersen put profits before shareholders - Washington state attorney general   WASHINGTON, Feb 06, 2002 (AFX-Europe via COMTEX) -- Christine Gregoire, the state attorney general of Washington state, said it appears that Enron Corp's accountants, Arthur Andersen LLP, "have put their allegiance to money over their ultimate allegiance owed to creditors, stockholders and the investing public."      Enron Europe's debts 'total billions of dollars'  Feb 05 - Evening Standard - London AROUND 1000 power and gas trading companies and financial institutions across Europe are owed "billions of dollars" by Enron according to administrators of the London-based end of the failed US energy firm.      California Gov. Gray Davis Refuses to Return Enron Contribution  By Sandy Kleffman, Contra Costa Times, Walnut Creek, Calif., Feb. 5 Republican gubernatorial candidate Richard Riordan called on Gov. Gray Davis Monday to return $119,500 in campaign contributions from energy giant Enron Corp.      Some Victims of Enron Are Seniors Who Became Shareholders Inadvertently  By James B. Kelleher, The Orange County Register, Calif., Feb. 3 They grew up during the Depression.      Former Enron Chief Is `Devastated,' Friend Says  By James Rosen, The Sacramento Bee, Calif., Feb. 5 Kenneth Lay, a president's pal who built a company that soared and crashed on the torn wings of high-risk energy trading, wanted to go to Washington in the worst way and try to clear his name.      Enron letter questions Harvard board member's role   By Joseph P. Flood, CAMBRIDGE, Mass., Feb 05, 2002 (Harvard Crimson, U-WIRE via COMTEX) -- Two members of the U.S. House of Representatives raised concerns Friday over the dual role of Harvard Corporation member Herbert S. "Pug" Winokur Jr., who is both an Enron investigator and Enron board member.      Congress Debates Enron Legislation   By LAURIE KELLMAN Associated Press Writer, WASHINGTON, Feb 06, 2002 (AP Online via COMTEX) -- In the shadow of election-year politics, Republican and Democratic members of Congress are squabbling over what changes should be made to bankruptcy and other laws to prevent new Enron-style corporate collapses.      US executives should disclose inside share trading more fully - stock analyst   WASHINGTON, Feb 06, 2002 (AFX-Asia via COMTEX) -- Corporate executives should be obliged to disclose their internal stock transactions immediately instead of on a delayed basis, the president of a New York investment management firm told lawmakers investigating the collapse of Enron Corp.      Labor Secy. Testifies in Enron Case   By MARCY GORDON AP Business Writer, WASHINGTON, Feb 06, 2002 (AP Online via COMTEX) -- After Enron's collapse, American workers need assurance their retirement savings are secure, Labor Secretary Elaine Chao said Wednesday in a pitch for the president's plan to change retirement account rules.      Houston Astros Team Seeks to End Naming-Rights Agreement with Enron  By Sean Wood, Fort Worth Star-Telegram, Texas, Feb. 6 The Houston Astros Baseball Club is ready to take Enron's name off the team's downtown baseball stadium and distance itself from the scandal surrounding the biggest corporate bankruptcy in American history.      FACTBOX-Congress hearings schedule on Enron/Andersen  WASHINGTON, Feb 6 (Reuters) The following are the hearings that the U.S. Congress has firmly scheduled on the collapse of Enron Corp., the role of its auditor Andersen, and related regulatory issues over the coming weeks.      National Energy Policy      Memo: Cheney Energy Draft Inaccurate   By PETE YOST Associated Press Writer, WASHINGTON, Feb 05, 2002 (AP Online via COMTEX) -- An Environmental Protection Agency official argued last spring that a draft of Vice President Dick Cheney's energy plan was inaccurate because it blamed environmental regulations for energy shortages.          ADVERTISEMENT    Energy Customer Management magazine is providing advertising opportunities in its annual "Executive Guide to Providers of Customer Management Services" issue. In addition to reaching ECM's 17,000 readers, this issue will receive bonus distribution at numerous industry events. Contact Joe Paparello for details at paparello@pur.com or 703-847-7759.         Competition & Deregulation    For reports and related information on this topic visit our Data Center   [IMAGE]    ENI's Mincato sees risk of gas shortage in 2005-2006   MILAN, Feb 06, 2002 (AFX-Europe via COMTEX) -- ENI SpA chief executive Vittorio Mincato said there could be a shortage of gas supplies in Italy in 2005-2006 because of the way liberalisation is being introduced in energy sectors.      Mergers, Acquisitions & Divestitures      Oklahoma City-Based Oil Producer Aspen Group Resources Ready to Complete Deal  By Rick Robinson, The Daily Oklahoman, Feb. 5 Aspen Group Resources Corp. announced Monday that it will soon complete its acquisition of Calgary, Alberta-based Endeavour Resources Inc.      Legislation/Regulation      MPSC Begins Investigation into Detroit Edison's and Michigan Consolidated Gas' Quality of Service  LANSING, February 6 (News Release) Due to a significant increase in the number of formal and informal consumer complaints, billing errors, and customer confusion on billing, the Michigan Public Service Commission today initiated an investigation into the quality of service provided by The Detroit Edison Company and Michigan Consolidated Gas Company.      Gas Pricing/Hubs      Canadian natgas steady to lower in warmer weather  NEW YORK, Feb 6 (Reuters) Canadian spot natural gas prices were steady to lower Wednesday with export values in the east falling on forecasts of warmer weather in the U.S. Midwest and Northeast into next week, industry sources said.      NYMEX Hub gas ends mixed despite bearish AGA data  NEW YORK, Feb 6 (Reuters) NYMEX Hub gas, pressured early by forecasts for milder Midwest and Northeast weather later this week and next, ended mixed Wednesday, with front months lifted by short covering despite a bearish weekly stock report, sources said.      U.S. spot natgas prices dip on rising temperatures  SAN FRANCISCO, Feb 6 (Reuters) U.S. spot natgas, buoyed in recent days by cold weather, turned lower Wednesday as milder weather forecast late-week cut into prices.      Gas Supply/Demand      US consumer winter heat bills less than expected-EIA  WASHINGTON, Feb 6 (Reuters) Warmer-than-normal temperatures and plentiful energy supplies mean U.S. consumers will pay 36 to 42 percent less to heat their homes during the current winter season, the U.S. government said on Wednesday.      US oil, gas demand to grow as economy recovers in 2002  Feb 06 - Oil & Gas Journal US demand for oil and gas will increase this year, but the extent to which it does so will depend upon when and to what extent the US economy recovers.      Drilling/Exploration      Oil Companies Sue Government for Drilling Delays Off Santa Barbara, Calif.  By Mark Van De Kamp, Santa Barbara News-Press, Calif., Feb. 5 Nine energy companies with interests off the Santa Barbara County coast are suing the U.S. government for $1.2 billion in reimbursement damages for stalling their plans to develop offshore oil and natural gas fields.      Oil Exploration Will Begin Near Arches National Park in Utah  By Brent Israelsen, The Salt Lake Tribune, Feb. 5 Huge "thumper trucks" soon will be pounding the ground northeast of Arches National Park in a seismic search for petroleum deposits the Bush administration hopes can help reduce America's dependence on foreign oil.      Futures      March Futures Shrugs Off AGA Data; Settles Higher as Shorts Cover  Feb. 6 (Btu's Daily Gas Wire) After trading in a very tight 2-cents spread for the majority of the day, March natural gas futures shrugged off a respectively low storage withdrawal reported by the American Gas Association and settled 2.7 cents higher at $2.101. Special Offer from this Publisher!       Natural gas rangebound ahead of AGA   February 6, 2002 (TradeSignals via COMTEX) -- Natural gas futures drifted in rangebound territory in Tuesday's session as market participants await the release of the latest storage report from the AGA before taking up fresh market positions.      Pipelines      Exxon Role Still in the Pipeline   BEIJING, February 6, 2002 (Xinhua via COMTEX) -- ExxonMobil could still take a share in China's west-east gas pipeline project, PetroChina told China Daily Tuesday.      New gas pipeline starts construction works   Bolivia, Feb 6, 2002 (La Razon/SABI via COMTEX) -- Jorge Quiroga, President Bolivia, has kicked off the works to build up a gas pipeline connecting Yacuiba - Rio Grande, that will allow to triple the natural gas exports to Brazil.      Williams Starts Up New Deepwater Pipelines in Gulf of Mexico   TULSA, Okla., Feb 6, 2002 /PRNewswire-FirstCall via COMTEX/ -- A unit of Williams has begun receiving oil and natural gas into new deepwater pipelines that were recently completed in the western Gulf of Mexico.      Beijing gives pipeline green light  Feb 06 - South China Morning Post PetroChina has announced the official start of work on a 4,000km pipeline to bring gas from the far west region of Xinjiang to Shanghai, after signing an agreement with a consortium led by Royal Dutch/Shell.      Rigs      U.S. Oil Rigs Decreased by Six  Feb 05 - Albuquerque Journal The number of rigs actively exploring for oil and natural gas in the United States last week decreased by six to 853.      Storage      AGA says U.S. weekly natgas stocks fell 82 bcf  WASHINGTON, Feb 6 (Reuters) The American Gas Association issued the following weekly estimates of U.S. working gas in storage (in bcf):      General      Mild winter slashes demand for US natgas, electricity  WASHINGTON, Feb 6 (Reuters) Mild winter temperatures and a weak economy will reduce U.S. demand for natural gas and electricity by as much as 8.4 percent during the current winter heating season, the U.S. government said on Wednesday.      Joint Ventures & Alliances      Leading Competitive Energy Retailers Form The Alliance for Retail Choice  Feb. 6, Washington, D.C. (News Release) The nation's leading companies offering customers retail energy choice announced today the formation of the Alliance for Retail Choice.      Trading/Marketing      Deal to revive energy marketer's trading operation to close this week   By ALAN CLENDENNING AP Business Writer, NEW YORK, Feb 06, 2002 (AP WorldStream via COMTEX) -- The deal to revive Enron Corp.'s flagship energy trading operation under the control of a Swiss bank is expected to close this week, and former Enron traders will start trading again soon after the deal is completed.      UK GAS SPOT MARKET DEVELOPS   Feb 06, 2002 (HART'S EUROPEAN OFFSHORE PETROLEUM NEWSL/PBI Media via COMTEX) -- The British natural gas market is gradually opening up for spot trading, with the recently opened Vesterled gas line - linking the UK with gas fields in Norway - strengthening its credibility.      Legal      Mueller to be sued by energy broker if E.ON/Ruhrgas ruling overturned   FRANKFURT, Feb 06, 2002 (AFX-Europe via COMTEX) -- Economy Minister Werner Mueller will be sued by Berlin energy broker Energie-Brokerhaus Ampere AG if he overrules the German cartel office's disapproval of E.ON AG's takeover of a majority stake in Ruhrgas AG, the weekly newspaper Die Zeit said.      People      Son of former Gazprom head replaced as chief of export arm   MOSCOW, Feb 06, 2002 (AP WorldStream via COMTEX) -- The son of the former head of natural gas giant Gazprom has been replaced as chief of the company's export arm, Gazprom said Wednesday, the latest purge of leadership as part of government-pushed drive for the company to reign in its finances.      Skaggs returns to lead Va. unit of gas supplier  Feb 05 - Richmond Times-Dispatch Columbia Gas of Virginia has a new president and chief executive officer.      Financial      KeySpan files $1.2 bln debt, stock shelf offering  WASHINGTON, Feb 6 (Reuters) Natural gas distributor KeySpan Corp. filed on Wednesday with the Securities and Exchange Commission to periodically sell up to $1.2 billion in debt securities, common and preferred stock and other securities.      Financial - Results      Devon posts fourth-quarter loss after big charge  OKLAHOMA CITY, Feb 6 (Reuters) Devon Energy Corp. Wednesday reported a fourth-quarter loss after taking a big one-time write-down to reflect the effect of sharply lower oil and natural gas prices on the value of its reserves.      Husky Energy profit down 79 pct on energy prices  CALGARY, Alberta, Feb 6 (Reuters) - Husky Energy Inc., Canada's fifth-largest integrated oil company, said on Wednesday its fourth-quarter profit fell 79 percent because of lower energy prices and higher operating costs.      International      Bidders calm amid tensions over Slovak SPP-adviser  BRATISLAVA, Feb 6 (Reuters) Bidders vying for control of Slovak gas monopoly SPP are pressing ahead, despite the threat that a member of the country's ruling coalition could halt the sale, the bank advising the state on the deal said on Wednesday.      Tractebel responds to accusations of fraud  Feb 6, 2002, (Le Figaro /FT Information via COMTEX) -- Tractebel, the Belgian energy subsidiary of Suez, the French utilities group, has responded to reports in the press of suspected malpractice.      EU Commission in talks to modify Gazprom, Sonatrach contracts banning resupply   BRUSSELS, Feb 06, 2002 (AFX-Europe via COMTEX) -- The European Commission is in talks with OAO Gazprom and Algeria's Sonatrach to modify clauses in long-term gas supply contracts with member states which contravene EU energy sector liberalisation plans, said Amelia Torres, spokeswoman for competition commissioner Mario Monti.      Mexican Authorities Complete Gas Regulations   MEXICO CITY, Feb 6, 2002 (Reforma/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Mexico's Energy Regulatory Commission, headed by Dionisio Perez Jacome, has completed its regulations for the import of natural gas in liquid form for re-conversion to gaseous form, reported Mexico City daily Reforma business columnist Dario Celis Estrada.      Petrobras to invest dlrs 1.7 billion in Bolivian natural gas   SANTA CRUZ, Bolivia, Feb 06, 2002 (AP WorldStream via COMTEX) -- Brazil's government-run oil company Petrobras said Wednesday it will invest dlrs 1.7 billion over the next four years to develop natural gas in Bolivia.      Iberdrola Attracts 49 Customers in the Gas Market  Feb 06, 2002 - FT World Media Abstracts via Comtex Spanish utility Iberdrola has made use of its award of part of the gas contract with Algeria to attract its first customers.      Petrobras Looks at Legal Action to Buy Enron Assets  Feb 06, 2002 - South American Business Information Petrobras is interested in buying the two main assets of Enron in Brazil, the Rio de Janeiro gas companies, CEG and CEG Rio, and is looking for legal means of achieving this.        If you are an Energy Central News Subscriber and you have checked any news articles above, selecting the 'Get Articles' button below will deliver all of the checked articles in one page. This is a convenient way to get exactly the news you need - quickly!           NEED INFORMATION ON THE POWER INDUSTRY? ENERGY CENTRAL'S GOT IT!    JOB CENTER  The Job Center provides instant access to the best employment opportunities and prospective employees in the energy industry through comprehensive job listings and active resume database.  JOB WATCH  A free weekly e-mail service that broadcasts new job listings in the Job Center directly to your inbox!   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