Dear Mark,

Please reference the below e-mail of 1/19/01.  Any information you can
provide?

---------------------- Forwarded by Virginia Thompson/PDX/ECT on 01/26/2001
04:01 PM ---------------------------

Virginia Thompson
01/19/2001 03:56 PM
To: Mark Guzman/PDX/ECT@ECT
cc: Bill Williams III/PDX/ECT@ECT

Subject: DMS 6259 APS 12/05/00 deal # 474762

Mark-

Please look at deal # 474762 APS for a total of 19 MWh (8+11MWh) HE 23-24. I
have found this deal in EnPower and in ETS and on the El Paso model.  The
outstanding question is was the price $210, $200 or $250?  El Paso has it at
$250, the El Paso written log has it as $210 and EnPower has it at $200.  The
counterparty isn't even showing it.

HELP!

Thanks,

Virginia


Rodney, from what you told me it sounds like GE is willing to play on the
Selkirk asset so the sales cycle should be largely completed.  Can you answer
Marty's other questions?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 10/16/2000
09:39 AM ---------------------------
From: Marty Sunde@EES on 10/15/2000 09:05 AM
To: David W Delainey/HOU/ECT@ECT
cc: Harold G Buchanan/HOU/EES@EES, Dan Leff/HOU/EES@EES, Karen S
Owens@ees@EES, Mark Frevert/NA/Enron@Enron@ECT, Rodney Malcolm/HOU/ECT@ECT,
Raymond Bowen/HOU/ECT@ECT
Subject: Re: GE Plastics Facts

Hi David,
I'll give you a response with the hope of seeing more information that would
change my mind.  If you are asking for my opinon, it is difficult to be
supportive of moving ahead on a transaction like this give the fairly
significant obstacles (these are usually deals killers) that Rodney
describes.  What I couldn't read into Rodney's write up were other
undocumented factors that you might change the probability, like:

Is there an Sr. executive champion that is willing to "influence" the GE
negotiating team into getting a deal done, even if the terms are less
desirable than what Rodney laid out as their requirements?
Are the willing to extned the term so that there isn't a capital tail?
Is there any real compelling motivation for this GE Plastics team to change
from current practice?  Do we know what that is and what the deadline for
action for change is?
Could Rodney suggest alternatives to address the obstacles and show the
potential impact on the margin in the deal?
Is there some other component of this deal that is so compelling to the
prospect that we can attach these pieces to that?

Realistically, based on what is written, the deal you are describing sounds
like it would have a low probability to close, surely in 2000.
HOWEVER< if there exenuating circumstances like you feel like we just need to
win this at all costs, there are values not being calculated that the client
would recognize, there are senior execs at GE Plastics behind this looking
for a way to close this, or anything else that is convincing your origination
team that they have a winner here....then, lets find out what that is and go
for it.

I wasn't exactly sure what you were asking for.  If it was my opinion, that
is above.  If it was to put more resource on it to try to make the
probability go up, I'll be glad to help.  If it is some other, just let me
know.

I would suggest we just start with trying to get more information from Rodney
and team regarding why they are convinced this can be contracted for with
margin in 2000.  I would love to participate and do what we can to make this
work out, as long as we all agree that there are reasonable approaches to
raising the probability of victory.

Thanks

David W Delainey@ECT
10/13/2000 09:47 AM
To: Harold G Buchanan/HOU/EES@EES, Marty Sunde/HOU/EES@EES, Dan
Leff/HOU/EES@EES
cc: Lou L Pai/HOU/EES@EES, Mark Frevert/NA/Enron@Enron, Rodney
Malcolm/HOU/ECT@ECT, Raymond Bowen/HOU/ECT@ECT
Subject: GE Plastics Facts

Guys, I would like your opinion on this potential transaction.  This has been
sold through GE for some time and it is reasonably likely that if we employed
some additional resources that this could be completed over the next quarter
or so.

Ultimately, Rodney and his team would like to see EES take control of the
deal with EIM folks staying involved to ensure continuity and to assist to
closure. Assuming that the sales process is largely completed, I see some
value for Enron to take this deal including:
 a) $200 M in TCV for 2000;
 b) $3 to $5 M in value;
 c) GE on our EES resume of companies which will help in future sales to the
large industrial customers;
 and d) provides an "in" to the GE family of companies which could result in
significant up-sell capability in the future if we provide a quality product.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 10/13/2000
09:36 AM ---------------------------

	From:  Rodney Malcolm                           10/12/2000 07:37 PM

To: David W Delainey/HOU/ECT@ECT
cc: Raymond Bowen/HOU/ECT@ECT
Subject: GE Plastics Facts

Dave,

The GE Plastics facility is located in Selkirk NY just south of Albany and
produces polystyrene and polyphenyleneoxide.  The deal value is roughly $4-5
million NPV of which $3-4 million may be markable income.

The obstacles to closure are:
- the projected savings have gone from 27% to 20% when GE said they wanted
more
- there is some capital recovery at the end of year ten that GE would have to
pay us and they are not yet agreeable to,
- the savings include $1 million in O&M savings and it will be very difficult
to get to closure with them letting us do the O&M

Deal Stats Are:

Electricity  230,000 mwh/yr  $12 million/yr
Steam  430,000 lbs/yr  $3   million/yr
Gas  470,000 mmbtu/yr $2   million/yr
O&M     $3   million/yr
Total     $20 million/yr

10 year contract, total contract value $200 million.

Let me know if you need any further information.
Thanks,
Rodney


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

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

Karen,

FYI.  Ann

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

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

Highlights of This Issue

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

Trying to Fit Solution Within Existing Rate Structure

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

Status of Negotiations with PG&E

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

Some Generators Agree to Haircut

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

Prospects for Legislation and Possibility of Ballot Initiative

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

Status of Defaulted Utility Debt

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

Governor's Strategy to Keep the Lights On

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

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

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

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


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/21/2000
05:27 PM ---------------------------

Shirley Crenshaw
12/21/2000 02:47 PM
To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Pinnamaneni
Krishnarao/HOU/ECT@ECT, Vasant Shanbhogue/HOU/ECT@ECT, Mike A
Roberts/HOU/ECT@ECT, Joseph Hrgovcic/HOU/ECT@ECT, Tanya
Tamarchenko/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT, Martin Lin/HOU/ECT@ECT,
Maureen Raymond/HOU/ECT@ECT, Osman Sezgen/HOU/EES@EES, Paulo
Issler/HOU/ECT@ECT, Amitava Dhar/Corp/Enron@ENRON, Alex
Huang/Corp/Enron@ENRON, Kevin Kindall/Corp/Enron@ENRON, Kevin G
Moore/HOU/ECT@ECT, Clayton Vernon/Corp/Enron@ENRON, William
Smith/Corp/Enron@ENRON, Jose Marquez/Corp/Enron@ENRON, Chonawee
Supatgiat/Corp/Enron@Enron, Shalesh Ganjoo/HOU/ECT@ECT, Tom
Halliburton/Corp/Enron@Enron, Elena Chilkina/Corp/Enron@Enron, Sevil
Yaman/Corp/Enron@Enron, Sofya Tamarchenko/NA/Enron@Enron, Bob
Lee/NA/Enron@Enron, Gwyn Koepke/NA/Enron@Enron, Hector Campos/HOU/ECT@ECT,
Anita DuPont/NA/Enron@ENRON, Youyi Feng/NA/Enron@Enron, V Charles
Weldon/HOU/ECT@ECT, Yana Kristal/Corp/Enron@ENRON, Praveen
Mellacheruvu/HOU/EES@EES, Li Sun/NA/Enron@Enron, Stephen
Bennett/NA/Enron@ENRON, Roman Zadorozhny/HOU/EES@EES, Lance
Cunningham/NA/Enron@ENRON, Leann Walton/NA/Enron@ENRON, Shane
Green/HOU/EES@EES, Seksan Kiatsupaibul/HOU/EES@EES, Kate Lucas/HOU/ECT@ECT,
Nelson Neale/NA/Enron@Enron, Rabi De/NA/Enron@ENRON, Kenneth
Parkhill/NA/Enron@ENRON, Jaesoo Lew/NA/Enron@ENRON, Jason
Sokolov/HOU/ECT@ECT, Steve Bigalow/NA/Enron@Enron
cc:
Subject: birthday fun

Kate asked me to forward this to you - thought you would enjoy it.

However, I must tell you that as a group we beat all the odds.  We have
three sets of people that have the same birthday - of course not the same
year - just the same day!

Amitava and Jaesoo March 2
Shirley and Stephen July 20
Stinson and Gwyn September 23

Cheers!

Shirley

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 12/21/2000
02:37 PM ---------------------------

Kate Lucas
12/21/2000 01:56 PM
To: Shirley Crenshaw/HOU/ECT@ECT
cc:
Subject: birthday fun

Shirley,

Would you please pass this on to the rest of the group? It refers to our
lunchtime conversation about birthdays falling on the same day for two people
in a group.

Thanks,
Kate


Fyi. Message is getting through. Will let you know how barclays responds on these ercs, etc. Also, spoke with joe gold and he can be ready to move his $300mm quickly through barclays as well.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Lewis, James C. <james.c.lewis@enron.com>
To: Deffner, Joseph <Joseph.Deffner@ENRON.com>; Liu, Ying <Ying.Liu@ENRON.com>
Sent: Wed Oct 24 16:42:13 2001
Subject: RE: ERCs - you are wrong, they are not just developer ERCs

Joe,
We are looking at this again. There seem to be even bigger issues than accounting with the regional ERC's, such as limited liquidity and trading volumes, extremely long transfer times for the local issuing authority to change title, etc. Then, of course, Barclay's has to agree to take them. We will push hard internally to get them in; then start working on Barclays when we have a strong story. I am not optimistic, but I do feel the pressure that you are under. Shankman and McConnell called me in to tell me what you told me last week - get all inventory off ASAP. I recommend that we nail down the SO2 extension before pushing Barclays on other products. Is that OK with you?
Jim

-----Original Message-----
From: Deffner, Joseph
Sent: Wednesday, October 24, 2001 4:02 PM
To: Liu, Ying; Lewis, James C.
Subject: Fw: ERCs - you are wrong, they are not just developer ERCs

Fyi. I know you guys are having a call tomorrow. Let me know if we can throw them in.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Kitchen, Louise <Louise.Kitchen@ENRON.com>
To: Deffner, Joseph <Joseph.Deffner@ENRON.com>
Sent: Wed Oct 24 15:49:13 2001
Subject: ERCs - you are wrong, they are not just developer ERCs

WE need to put them in.  Ring me.


David , if this is going to cause you political flack with Mary Joyce lets
just kill it - we have revised the original plan and this is probably not
needed.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 09/06/2000
03:29 PM ---------------------------

Mary Joyce@ENRON
09/05/2000 02:51 PM
To: David Oxley/HOU/ECT@ECT
cc: Cindy Olson/Corp/Enron@ENRON, Sheila Knudsen/Corp/Enron@ENRON, David W
Delainey/HOU/ECT@ECT
Subject: Re: ENA Comp suggestions for Project Raptor

David,

  I need more information on the project and who exactly the individuals are
who you feel should participate in this program.  Generally, developers and
deal people throughout the company are not provided with additional incentive
since this type of work is part of their job.  However, this project may be
an exception.  Please call and lets discuss.

Thanks!

MAry

David Oxley@ECT
08/30/2000 09:21 AM
To: Cindy Olson/Corp/Enron@ENRON, Mary Joyce/HR/Corp/Enron@ENRON, Sheila
Knudsen/Corp/Enron@ENRON
cc: David W Delainey/HOU/ECT@ECT
Subject: ENA Comp suggestions for Project Raptor

I have been discussing with Dave Delainey how we might align the
compensation/rewards for the group of 4 or 5 VP's and Directors we have
assigned to disposing of our large portfolio ($650mm). The project is due to
complete in June 01 and Dave and my concern is whether we can make sure they
are motivated to close on time and get the best possible price for us. Dave
believe the up side could be as much as $150mm and the downside as much as
$300mm (the difference between best and worst prices/sales).

My suggestion is that we do the following and I would like your comments or
concerns if any:

Enter into contracts or an agreement (the later would be one way - us to them
and obviously easier) with each of them outlining the following:

Bonus targets based on financial targets and PRC performance for calendar 01
(ie if you rank in top 3 categories and you realise over $650 from this
project we will pay you not less than $300k)

Equity award on closing, on the basis of successful closure and above line
value (ie only in the event that this closes in June 01 and realises more
than $650mm we will grant you $200k in options, if above $800m then $350k in
options.)

Dave would like for me to get back to him on this asap.

David


Another tidbit to remind us that we see/hear Divinity all around us:

Just remember, "Our God is an Awesome God!"

READ This All the Way, and send it back please!
This will give you the chills.....GOOD Chills!

A young man had been to Wed. night Bible Study. The pastor had shared
about listening to God and obeying the Lord's voice. The young man
couldn't help but wonder, Does God still speak to people?"

After service, he went out with some friends for coffee
and pie, and they discussed the message. Several different ones talked
about how God had led them in different ways.

It was about ten o'clock when the young man started driving home.
Sitting in his car, he just began to pray, "God...If you still speak to
people speak to me. I will listen. I will do my best to obey."

As he drove down the main street of his town, he had the strangest
thought to stop and buy a gallon of milk. He shook his head and said out
loud, "God is that you?"  He didn't get a reply and started on toward
home.

But again, the thought, buy a gallon of milk. The young man thought
about Samuel and how he didn't recognize the voice of God, and how
little Samuel ran to Eli. "Okay, God, in case that is you, I will buy
the milk." It didn't seem like too hard a test of obedience. He could
always use the milk. He stopped and purchased the gallon of milk and
started off toward home.

As he passed Seventh Street, he again felt the urge, "Turn down that
street." This is crazy he thought and drove on past the intersection.
Again, he felt that he should turn down Seventh Street. At the next
intersection, he turned back and headed down Seventh. Half jokingly, he
said out loud, "Okay, God, I will."

He drove several blocks, when suddenly, he felt like he should stop.
He pulled over to the curb and looked around. He was in a
semi-commercial area of town. It wasn't the best but it wasn't the worst
of neighborhoods either. The businesses were closed and most of the
houses looked dark like the people were already in bed.

Again, he sensed something, "Go and give the milk to the people in the
house across the street." The young man looked at the house. It was dark
and it looked like the people were either gone or they were already
asleep. He started to open the door and then sat back in the car seat.
"Lord, this is insane. Those people are asleep and, if I wake them up,
they are going to be mad and I will look stupid."

Again, he felt like he should go and give the milk. Finally, he opened
the door.   "Okay God, if this is you, I will go to the door and I will
give them the milk. If you want me to look like a crazy person, okay. I
want to be obedient. I guess that will count for something, but, if they
don't answer right away, I am out of here.

He walked across the street and rang the bell. He could hear some noise
inside. A man's voice yelled out, "Who is it? What do you want?"   Then
the door opened before the young man could get away.    The man was
standing there in his jeans and t-shirt.  He looked like he just got out
of bed. He had a strange look on his face, and he didn't seem too happy
to have some stranger standing on his doorstep. "What is it?" The young
man thrust out the gallon of milk. "Here I brought this to you."

The man took the milk and rushed down a hallway, speaking loudly in
Spanish. Then from down the hall came a woman carrying the milk toward
the kitchen. The man was following her holding a baby. The baby was
crying. The man had tears streaming down his face. The man began
speaking and half-crying, "We were just praying. We had some big bills
this month and we ran out of money. We didn't have any milk for our
baby. I was just praying and asking God to show me how to get some
milk."

His wife in the kitchen yelled out, "I ask him to send an Angel with
some. Are you an Angel?"

The young man reached into his wallet and pulled out all the money he
had on him and put in the man's hand. He turned and walked back toward
his car and the tears were streaming down his face.   He knew that God
still answers prayers.

This is a simple test...

If you believe that God is alive and well, send this to at least ten
people and the person that sent it to you!


Attached is the latest draft for the Houston Analyst Meeting.  I am going to
give a copy to Stan on Wed. and may review with him on Thursday.

Let me know if you have comments.

Scott

Tracy - do you have a volume estimate for 2000?


Jeannie,
Hello, I'm back this morning from overseas.  I am assuming that you got what
you needed but in case you are still waiting on a response, I like the
article.  If you still have time or want any additional comments.  I would
simply add a couple of products to the list of Enron Global Markets.  The
group is also responsible for Global Risk Management (insurance products),
LNG trading, agriculture trading, and Interest rate trading.  I just don't
want to leave any groups out of the article if possible.  Thanks and good
luck and i certainly understand if I'm too late.
mike

Jeannie Mandelker
08/23/2000 02:04 PM
To: Mark Frevert/NA/Enron@Enron, Jeffrey McMahon/HOU/ECT@ECT, Mike
McConnell/HOU/ECT@ECT
cc:
Subject: Approval of article for this Friday's eBiz online employee newsletter

Thank you for helping me put the attached article together on Enron Global
Markets and Enron Industrial Markets.

Please review the article for accuracy and return to me no later than 10 a.m.
Houston time tomorrow (Thursday).

Our online publication is uploaded at 5 p.m. Thursday, so we have to have a
short turnaround.

If you have concerns, call me at 914-739-7708.

If you prefer to fax comments, my fax number if 914-736-9504.

Thanks again,
Jeannie


Tana:

Coastal Oil & Gas Canada Inc. is NOT authorized to trade US power products.
It is not a current trading partner and not FERC approved.

Pacific Gas & Electric Company -- ENRON SALES only for East and West power
pursuant to on-line GTCs
TXU Electric Company -- ENRON SALES only for East and West power pursuant to
on-line GTCs

GPU Advanced Resources, Inc. is authorized to trade all US power products
pursuant to the on-line GTCs.

Thanks,

Leslie


Jeff,

FYI. We completed the review of the LNG model.
The copy of the review is available if you want to take a look at it.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/17/2000
04:26 PM ---------------------------

Bob Lee@ENRON
10/16/2000 01:53 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Zimin Lu/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT
Subject: Completion of LNG Model Review

The review of Eric Groves' LNG Model spreadsheet has been completed.  No
independent model was available for use in the comparison; however, the model
appears complete and accurate in representating all important cost and
revenue elements.

If this financial model is coupled with a optimization model for planning
ship usage in the future, additional variables may be needed to represent the
variability of trip times, weather factors, etc.  A reference describing
these possible additions was provided.

Bob Lee


Here's the Opinion Elite file.  It looks very strong for our open access
argument.

Suggest we update the WH.  Any other uses?  I have the verbatims and cross
tabs.  We'll send a sanitized version (although there's not much I wouldn't
want everybody to see) to some of the interviewees who requested it.

Mark
----- Forwarded by Mark Palmer/Corp/Enron on 04/25/2001 03:08 PM -----

	"Nicole Fink" <nicole@pos.org>
	04/24/2001 03:49 PM

		 To: mpalmer@enron.com, janel.Guerrero@enron.com, rSCHRIEFER@aol.com,
aameece@quinngillespie.com, dlugar@quinngillespie.com,
bandrews@quinngillespie.com
		 cc:
		 Subject: Opinion Elite Survey

Enron Team:

A draft of the key findings of the opinion elite survey is attached.
We are sending out hard copies tonight so you should have them
tomorrow morning.

Thanks.

The following section of this message contains a file attachment
prepared for transmission using the Internet MIME message format.
If you are using Pegasus Mail, or any another MIME-compliant system,
you should be able to save it or view it from within your mailer.
If you cannot, please ask your system administrator for assistance.

   ---- File information -----------
     File:  execsummary.PDF
     Date:  24 Apr 2001, 16:47
     Size:  41949 bytes.
     Type:  Unknown

 - execsummary.PDF


-----Original Message-----
From: BarshK@gtlaw.com [mailto:BarshK@gtlaw.com]
Sent: Monday, November 26, 2001 2:46 PM
To: Mann, Kay; Krimsky, Steven; OrshefskyD@GTLAW.com
Cc: ReetzR@gtlaw.com; SavageP@gtlaw.com
Subject: Order of Consolidation

      I hope that you had a wonderful Thanksgiving !
      FYI-- Judge Stampelos issued an Order consolidating the pending
Pompano Beach and Deerfield Beach air permit challenges into a single
proceeding, which is scheduled to be heard on Tuesday, January 29th, 2002,
through February 1st, 2002.   Under the Order, the pre-hearing stipulation
is required to be filed by January 24th.   I will be sending a copy of the
Order by facsimile.
       Please keep me apprised of the status of the settlement negotiations
as they progress.   I will send you a copy of the proposed permit language
for the Pompano Beach proceeding upon receipt from Martha Nebelsiek of DEP.

       If you have any questions or comments on the foregoing, please
contact me.
         --Kerri

_______________________________________________________________
The information contained in this transmission may contain
privileged and confidential information.  It is intended only
for the use of the person(s) named above. If you are not the
intended recipient,  you are hereby notified that any review,
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communication is strictly prohibited. If you are not the
intended recipient, please contact the sender by reply email
and destroy all copies of the original message.

To reply to our email administrator directly, please send an
email to postmaster@gtlaw.com.


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 10/18/2000
10:33 AM ---------------------------

"SOCORRO HERNANDEZ" <SUHERNAN@LLGM.COM> on 10/18/2000 09:21:45 AM
To: <Judy.Hernandez@enron.com>, <smanzanales@jw.com>, <Maria.Soliz@ppfa.org>,
<bandama@ssa.co.orange.ca.us>, <maryloulou@yahoo.com>
cc:
Subject: Fwd: Barney Can't Compete

Content-Transfer-Encoding: quoted-printable
Date: Wed, 18 Oct 2000 09:34:41 -0400
From: "Barbara Monte" <BMONTE@LLGM.COM>
To: "SOCORRO HERNANDEZ" <SUHERNAN@LLGM.COM>
Subject: Barney Can't Compete
Mime-Version: 1.0
Content-Type: text/plain; charset=US-ASCII
Content-Disposition: inline

Barney Can't Compete
In the Minneapolis Star-Tribune (1/17/98) Judy Zmerold writes:

Three-year-old Katie was taken to her pediatrician during a recent
bout with the flu. As the doctor examined her ears, he asked, "Will I find Big
Bird in here?"

Apprehensively, Katie replied, "No."

Then, before examining her throat, he asked, "Will I find the Cookie
Monster in here?"

Again, "No."

Finally, listening to her heart, he asked, "Will I find Barney in here?"

With innocent conviction, she looked him directly in the eye and
said, "No, Jesus is in my heart. Barney is on my underwear."


jointly to Morris Clark and Steve Douglas

To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: copies of Sempra documents

I have copies of the documents...

I will have them delivered to your office tomorrow ...if you let me know
who in tax you want the documents sent to, we can forward the documents
to them directly...thanks...mgg


Can we decide some time today whether or not we need to sign the Escrow Fee
Agreement?

 -----Original Message-----
From:  Mann, Kay
Sent: Friday, May 25, 2001 8:36 AM
To: Booth, Chris
Cc: Jacoby, Ben; Walker, Rebecca; Carnahan, Kathleen
Subject: Re: FW: Blue Dog

Yes, E-Next.  You might advise Jeff that we will probably need a substitute
LOC post-assignment.

Kay

From: Chris Booth/ENRON@enronXgate on 05/25/2001 08:28 AM
To: Kay Mann/Corp/Enron@Enron
cc: Ben Jacoby/ENRON@enronXgate, Rebecca Walker/ENRON@enronXgate, Kathleen
Carnahan/ENRON@enronXgate

Subject: FW: Blue Dog

Kay,

Is E-Next Generation LLC the correct entity as beneficiary?

Chris

 -----Original Message-----
From:  jeffrey.darst@ps.ge.com@ENRON
[mailto:IMCEANOTES-jeffrey+2Edarst+40ps+2Ege+2Ecom+40ENRON@ENRON.com]
Sent: Friday, May 25, 2001 8:03 AM
To: Booth, Chris
Cc: sharon.torre@ps.ge.com
Subject: RE: Blue Dog

Chris,

The bank will issue the LOC by the end of next week, perhaps as early as
Wednesday.  We are using E-Next Generation LLC as the beneficiary.  The LOC
will be mailed to you.  Do you still require a Lien Waiver?

Also, do you want new invoices?  If so, will one for $1,502,355 be
sufficient?

Regards,

Jeff

-----Original Message-----
From: Chris.Booth@enron.com [mailto:Chris.Booth@enron.com]
Sent: Thursday, May 24, 2001 3:54 PM
To: IMCEANOTES-jeffrey+2Edarst+40ps+2Ege+2Ecom+40ENRON@enron.com
Cc: Ben.Jacoby@enron.com
Subject: RE: Blue Dog

Jeff,

Can you give me an update on where GE stands on providing the Letter of
Credit as discussed in my letter of 21 May 2001.
Regards,

Chris

    -----Original Message-----
   From:   jeffrey.darst@ps.ge.com@ENRON

[mailto:IMCEANOTES-jeffrey+2Edarst+40ps+2Ege+2Ecom+40ENRON@ENRON.com]

   Sent:   Thursday, May 24, 2001 12:05 PM
   To:     Booth, Chris
   Cc:     william.maclean@ps.ge.com
   Subject:  Blue Dog

   Chris,

   I will get you re-established on PNet, with the correct e-mail address..
   For the B&V folks, I need names, e-mail addresses, and phone numbers,
   (nice,
   but not required).

   Just a reminder, the site change process can not start until the new
   site
   conditions are identified to GE.  The cost and cycle estimate then takes
   about 4 weeks.

   Regards,

   Jeff
   Global Power Plant Systems
   518-385-0663
   518-381-1513 (fax)


Bill, attached is a redlined second draft of this morning's letter.  Let me
know what you think.

Dan

Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd.  Suite 244
Woodland Hills, CA 91367
Tel:   (818) 596-2201
Fax:  (818) 346-6502
douglass@energyattorney.com
----- Original Message -----
From: "Rapp, Bill" <Bill.Rapp@enron.com>
To: <douglass@energyattorney.com>
Sent: Friday, November 16, 2001 2:12 PM
Subject: FW: SCG Advice 2837-A

Dan,

This is a follow up to our telephone conversation of this
afternoon. The attachment, which apparently originated with you, is what
we will talk about during our conference call at 8:00 a.m. (California
time) on Monday. Thanks.

>  -----Original Message-----
> From: Donoho, Lindy
> Sent: Friday, November 16, 2001 4:01 PM
> To: Rapp, Bill; Hass, Glen; Blair, Lynn; Harris, Steven; Kowalke,
> Terry; Lokey, Teb; Kilmer III, Robert; #99 Tech Support,; Watson,
> Kimberly; Lindberg, Lorraine; Lohman, TK
> Subject: FW: SCG Advice 2837-A
>
> After discussing with Lynn and Glen, we think that we would like to
> file comments in this proceeding concerning an issue we have had since
> this has been implemented on Nov 1.  In instances where SoCal happens
> to call their OFO in the Intraday 2 cycle, it can cause Transwestern
> to have Shipper imbalances because we do not have an opportunity to
> pass-along these reductions to our upstream parties.  We think we
> would like to file a letter that may mention our general support of
> the "direction" of SoCal's changes, but that we do have an issue that
> has developed since actual implementation that we are currently
> working on with them.  Lynn & I worked on this rough general
> description we thought could be incorporated into a brief letter.
>
> "If SoCal calls an OFO in the Intraday 2 Cycle, an
> allocation is passed to Transwestern through the confirmation process
> with SoCal.  Due to the timing of these OFO's, Transwestern is unable
> to confirm such reductions with Transwestern's upstream parties."
>
> Lynn thinks if we are unable to resolve this issue with SoCal, TW
> could have high Shipper imbalance exposure.
>
>  -----Original Message-----
> From: Harris, Steven
> Sent: Wednesday, November 14, 2001 9:50 AM
> To: Donoho, Lindy
> Subject: FW: SCG Advice 2837-A
>
> Lindy , can you please take a look at this and let me know if we
> should file comments. Thanks. You might see if Glen has looked at it
> yet.
>
> Steve
>
>  -----Original Message-----
> From: "Dan Douglass" <douglass@energyattorney.com>@ENRON
> Sent: Friday, November 09, 2001 5:02 PM
> To: Hass, Glen; Harris, Steven
> Cc: Gregg Klatt
> Subject: SCG Advice 2837-A
>
>
> Glen and Steve:
>
> The attached supplemental advice filing by SoCalGas replaces the
> changes to Rule 30, Transportation of Customer-Owned Gas, proposed by
> AL2837.   The purpose of this filing is to  describe the new internal
> receipt point operating procedures that SoCalGas is  implementing, and
> to request Commission authorization to include the revised  operating
> procedures in Rule 30. SoCalGas says this step is being taken in
> anticipation that it will be replaced with a system of firm tradable
> intrastate  transmission rights in Gas Industry Restructuring (GIR)
> proceeding, I.99-07-003.
> During  the GIR panel hearings, several parties requested that
> SoCalGas publish its  windowing criteria in tariffs to facilitate a
> better understanding of the method  used to allocate receipt point
> capacity.  SoCalGas agreed to make  such a filing, and D.99-07-015
> directed SoCalGas to file an advice letter adding  windowing
> information to its tariffs.  To comply with this directive, on August
> 6, 1999, SoCalGas filed AL2837, which has not been acted on by the
> Commission.
> Customer complaints about SoCalGas' windowing  procedures have
> convinced SoCalGas that it should replace its internal  windowing
> operating procedures with a system that is open to the maximum
> operating capacity at each SoCalGas receipt point.  SoCalGas is making
> these internal  operating changes effective November 1, 2001.
> SoCalGas held meetings with upstream  pipelines on October 17, and
> with interested customers and stakeholders on  October 18, regarding
> the upcoming changes.  They were invited to ask any questions in  the
> days leading up to the meetings.
> Comments and/or protests are due on November 21.  Have a good
> weekend!
> Dan
>
> Law Offices of Daniel W. Douglass
> 5959 Topanga Canyon Blvd.  Suite  244
> Woodland Hills, CA 91367
> Tel:   (818) 596-2201
> Fax:   (818) 346-6502douglass@energyattorney.com
> <<mailto:douglass@energyattorney.com>>
>
>  - AL2837-A.PDF <<AL2837-A.PDF>>

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


Who got spanked?  Hopefully Natalie!  We are partying on Halloween.

-----Original Message-----
From: lisab [mailto:lisab@int.iwhm.com]
Sent: Thursday, October 18, 2001 3:19 PM
To: Lucci, Paul T.
Subject: Re:

We got crazy at Cool River.  Smokin Cigars, drinking heavily...there was even a little spanking going on!  You missed it, man.  Still up in the air about Halloween.  What's the fun single thing to do?

----- Original Message -----
From: Lucci, Paul T. <mailto:Paul.T.Lucci@ENRON.com>
To: lisab <mailto:lisab@int.iwhm.com>
Sent: Thursday, October 18, 2001 2:21 PM
Subject: RE:

What you had a birthday without telling me about the party!  What did you do?  What are you guys doing for Halloween?

-----Original Message-----
From: lisab [mailto:lisab@int.iwhm.com]
Sent: Thursday, October 18, 2001 2:12 PM
To: Lucci, Paul T.
Subject: Re:

This is the beginning of the busy season for my industry, so things have been hoppin at work.  Celebrated my 31st birthday last weekend.  Very fun!  Been wanting to get some golfing in before it gets too cold.  What about you?

----- Original Message -----
From: Lucci, Paul T. <mailto:Paul.T.Lucci@ENRON.com>
To: lisab <mailto:lisab@int.iwhm.com>
Sent: Thursday, October 18, 2001 1:28 PM
Subject: RE:

That's too bad, I would have come down and met you.  What has been going on with you?

-----Original Message-----
From: lisab [mailto:lisab@int.iwhm.com]
Sent: Thursday, October 18, 2001 1:40 PM
To: Lucci, Paul T.
Subject:

Hey, welcome back.  Sorry I missed you last night.  I was down in Cherry Creek having some drinks with friends, and didn't hear my phone.  Hope you had fun.

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


---------------------- Forwarded by Chris Germany/HOU/ECT on 12/27/99 11:20
AM ---------------------------

pdrexel@columbiaenergygroup.com on 12/27/99 08:01:03 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: January 2000 AGT volumes

---------------------- Forwarded by Paul Drexelius/CES/ColumbiaGas on 12/27/99
08:07 AM ---------------------------

Marianne Stiles
12/22/99 04:00 PM

To: Phil Villagomez/CES/ColumbiaGas@ColumbiaGas
cc: Paul Drexelius/CES/ColumbiaGas@ColumbiaGas, Noel
Bartlo/CES/ColumbiaGas@ColumbiaGas, Joanne
Swogger/CES/ColumbiaGas@ColumbiaGas,
Frank Kronz/CES/ColumbiaGas@ColumbiaGas, Brian
Perrone/CES/ColumbiaGas@ColumbiaGas, Melissa
Flewellyn/CES/ColumbiaGas@ColumbiaGas, Morgan
Sharifi/CES/ColumbiaGas@ColumbiaGas
Subject: January 2000 AGT volumes

Here are the approximate January daily volumes for each of the gates.   Please
do not forget that January 1 and January 2 will be lower because of the
weekend/holiday.    I know you wanted an exact volume for 1/1 but I will not
have that for all of the Algonquin markets until Monday, 12/27.      We will
need a range from 3200 dth to 4200 dth per day.   This large swing is normal
for these types of markets due to weekends, weather, and customer situations.

 - agt012000.xls


It looks like we are playing a smaller role than the WSJ article indicates --
i.e. a role commensurate with our level of interest.  I have talked with John
several times about the relative importance of OPIC, ExIm and other funding
organizations in light of the change in emphasis in our business.  As a
result of those discussions we cut headcount and expenditures from the
proposed budget for "01 and John has joined Linda Robertson's organization in
the DC office (instead of being a stand alone effort).  Having said that, my
view (based on the work John has been doing) is that we continue to have a
considerable amount of work for him to do on the project finance front as a
result of existing projects, projects we continue to pursue, and transfer
issues associated with the asset sales.  Do you agree?
----- Forwarded by Steven J Kean/NA/Enron on 03/07/2001 11:27 AM -----

	John Hardy@ENRON_DEVELOPMENT
	03/07/2001 10:59 AM

		 To: Steven J Kean/NA/Enron@ENRON
		 cc:
		 Subject: Re: Enron Mentions

Steve
 This is not a battle to fight with OMB, but we have to show the agencies
that we are supportive of  their programs and their budgets.  We are not
going to lead the battle and in fact have not particpated in meetings on the
hill.  But we are in negotiations with both EXIM and OPIC on Electrobolt and
will need their support on our problem projects.  Also, Rebecca McDonald is
on EXIM's private sector advisory committee.  If you need more lets talk.
Thanks John

	Steven J Kean@ENRON
	03/07/2001 11:43 AM

		 To: John Hardy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Linda Robertson/NA/Enron@ENRON
		 Subject: Enron Mentions

How important is this fight to us now (see attached article on ExIm)?
----- Forwarded by Steven J Kean/NA/Enron on 03/07/2001 10:41 AM -----

	Ann M Schmidt
	03/07/2001 08:19 AM

		 To: Ann M Schmidt/Corp/Enron@ENRON
		 cc: (bcc: Steven J Kean/NA/Enron)
		 Subject: Enron Mentions

Exporters Rush to Ex-Im Bank's Defense --- Lobby Campaign to Prevent Budget
Cuts Seeks Help Of 100,000 Small Firms
The Wall Street Journal, 03/07/01

Plots & Ploys
The Wall Street Journal, 03/07/01

Dutch Gas Competition Grows Despite Sluggish Reforms
Dow Jones Energy Service, 03/07/01

USA: Big U.S. exporters to fight Ex-Im Bank cuts - WSJ.
Reuters English News Service, 03/07/01

Major U.S. Exporters Rush to Export-Import Bank's Defense
Dow Jones Business News, 03/07/01

What's News
United States
The Globe and Mail, 03/07/01

Deal with state could take until 2002 to close
Associated Press Newswires, 03/06/01

Sierra Pacific CEO Doubts SEC OK Of Enron Unit Buy-Report
Dow Jones Energy Service, 03/06/01

Many Power Deals Announced by California Governor Still Not Final
Dow Jones Business News, 03/06/01

US Natural Gas Prices Fall As Demand Slips In Most Areas
Dow Jones Energy Service, 03/06/01

Economy
Exporters Rush to Ex-Im Bank's Defense --- Lobby Campaign to Prevent Budget
Cuts Seeks Help Of 100,000 Small Firms
By Michael M. Phillips and Laura Heinauer
Staff Reporters of The Wall Street Journal

03/07/2001
The Wall Street Journal
A2
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -- Angry and confused that a Republican administration has
targeted one of their favorite programs for big cuts, America's largest
exporters are appealing for help from lawmakers.
Boeing Co., Caterpillar Inc., Enron Corp., Halliburton Co. and others are
launching an aggressive lobbying campaign on Capitol Hill to protect the
Export-Import Bank from budget reductions; the White House labels the Ex-Im
Bank as corporate welfare.
"The administration has fired its shot, and now we're firing ours," said
Edmund B. Rice, president of the Coalition for Employment Through Exports, an
industry group that is leading the effort.
Since they got wind of the proposed cuts a few weeks ago, business lobbyists
have been trying to rally sympathetic lawmakers. And executives at Boeing,
Caterpillar and other big companies plan to contact some 100,000 smaller
suppliers that benefit indirectly from the $12.6 billion of export loans,
guarantees and insurance that Ex-Im Bank provided in the last fiscal year.
Those small companies, the executives hope, will create a groundswell of
support in Congress for the Ex-Im Bank.
"Companies large and small who have similar interests here are banding
together to provide an educational effort so people understand the impact of
this," said Chris Hansen, Boeing senior vice president for government
relations.
Corporate lobbyists also have dug up a speech that Vice President Dick
Cheney, while chief executive of Halliburton, gave in 1997 praising the bank
and scoffing at those who consider it a giveaway to big business. They plan
to pass Mr. Cheney's comments to influential members of Congress this week.
"We'll be circulating them very broadly," Mr. Rice said.
A spokeswoman for Mr. Cheney had no immediate comment.
Ex-Im Bank officials aren't talking publicly, avoiding the appearance that
they are battling the White House to overturn the proposed 25% cut in the
bank's $865 million operating budget for the current fiscal year, which ends
Sept. 30. But an Ex-Im official said the topic has come up in conversations
between key lawmakers and Ex-Im Bank Chairman James A. Harmon, who is soon to
be succeeded by Mel Sembler, a Bush campaign fund-raiser and a
shopping-center developer.
At first, business lobbyists assumed administration budgeteers were just
looking for savings anywhere they could find it. Before President Bush
released his spending plan last week, companies appealed to Mitchell Daniels,
head of the White House budget office, in an attempt to keep the Ex-Im Bank
cuts out of the final proposal.
The Ex-Im Bank's corporate clients include some of the country's largest
political contributors. Boeing, the bank's largest user, received $3.3
billion of financing last year. The Seattle aerospace company and its
employees contributed $1.8 million to politicians and parties during the 2000
election cycle, 61% to Republicans, according to federal election data
assembled by the Center for Responsive Politics. Caterpillar, a Peoria, Ill.,
maker of engines and heavy equipment that secured seven Ex-Im Bank deals last
year, and its employees contributed more than $500,000 -- 96% to Republicans.
Company officials deny they wanted to leverage donations to try to secure
political support for the Ex-Im Bank.
Many lobbyists have come to the conclusion that administration officials --
those of a libertarian persuasion -- oppose Ex-Im Bank as a form of welfare
for corporations. Indeed, the White House budget plan criticized the bank's
operations as unjustified public subsidies for companies. "That makes it a
much more serious issue," Mr. Rice said. "We're concerned that the
administration seems to be turning its attention in this direction."
Barring intervention from Mr. Cheney, business groups now have largely given
up hope of convincing the White House to back down, planning instead to use
their muscle to convince Congress to restore the Ex-Im Bank's funding. Bank
officials and U.S. companies argue that, far from being a subsidy, the bank
simply allows American companies to compete with European and Japanese firms
that receive assistance from their own governments.
"In many markets in Asia and Africa, the bank is absolutely critical to our
ability to sell American-made products," said Bill Lane, Caterpillar's
Washington director for governmental affairs.
--- Corporate Beneficiaries

Top 10 recipients of Ex-Im Bank loans, guarantees and insurance for
fiscal year 2000, as measured by amount of financing, in millions

Boeing $3,335
Bechtel Group $1,075
Distributed Processing Systems $388
Willbros Group $387
United Technologies $334
Raytheon $156
General Electric $150
Halliburton $136
Enron $135
LSI Logic $120

Source: Ex-Im Bank

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

The Property Report
Plots & Ploys
By Peter Grant

03/07/2001
The Wall Street Journal
B10
(Copyright (c) 2001, Dow Jones & Company, Inc.)

[What's Brewing in the Real Estate Market]
No Problem, Houston
CENTURY DEVELOPMENT is about to announce plans to break ground on downtown
Houston's third major office development in less than three years. In another
sign of the strength of the city's energy sector, Century is finalizing a
headquarters deal with Reliant Resources Inc. to take more than two-thirds of
the project's 850,000 square feet, says Edwin Murphy, a Century senior vice
president.
Two other towers also are underway. In 1999, Hines began building a 1.2
million square-foot tower for Enron Corp. and late last year Crescent Real
Estate Equities broke ground on a 27-story tower that will be anchored by
Ernst & Young. These three projects are the first major downtown office
projects to get underway since 1986.
The surge is part of a renaissance of downtown Houston, where new sports
facilities, hotels, apartment buildings and restaurants have been mushrooming
in recent years. "The new amenities have kept people from leaving and enticed
people to come back," says Michael Hassler, of CB Richard Ellis.

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

Dutch Gas Competition Grows Despite Sluggish Reforms
By Germana Canzi
Of DOW JONES NEWSWIRES

03/07/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LONDON -(Dow Jones)- The Netherlands is emerging as an important testing
ground for E.U. gas liberalization, as new trading hubs for competitive,
short-term gas supplies from the U.K. and Norway emerge on the Belgian and
German borders.
However, much remains to be done. A group of large energy users and traders
is preparing to confront Gasunie Thursday in a hearing organized by the
regulator. The main issues of contention are the balancing system, which
Gasunie conducts on an hourly basis, the extent to which transport tariffs
are cost-focused and third-party access to storage facilities.
The emergence of competition in the Dutch gas sector is mostly due to the
initiative of new market entrants who, despite a difficult regulatory
environment, have managed to develop a market for short-term gas virtually
from scratch.
If liquidity improves in these emerging hubs, the Netherlands could become an
important transit country for freely tradeable gas supplies to other
countries in northwest Europe, as well as being an important market in its
own right. However, the difficulty of implementing transparent third-party
access systems in the Netherlands and in neighboring Germany casts a dark
cloud over recent progress in competition.
Since December, Enron Europe Ltd. (U.ENE), Duke Energy Corp. (DUK), E.On AG
(EON), RWE AG (G.RWE) and Electrabel SA (B.ELE) have been actively buying and
selling gas, sourced in the U.K., the Netherlands and Norway, in a number of
hubs between Emden in Germany and Emshaven and Oude Statenzijl in the
Netherlands.
David Gallagher, head of European gas trading at Enron in London, estimates
that at least one trade a day of around 100,000 therms for a quarterly
contract is done at the Oude Statenzijl hub, where the Gasunie pipeline
system connects to the network of Wingas GmbH.
An important element kick-starting short-term trading was the sale, in
December 2000, of a 2 billion cubic meter a year Norwegian gas supply
contract to five Dutch-based power generators.
Robert van der Hoeven, head of fuel procurement at Electrabel, the owner of
Dutch generator EPON, said his company uses most of the gas it imports from
Norway for its plants in the Netherlands and trades the rest on a short-term
basis in the Oude-Emden area. This pattern is common to the other Dutch-based
parties to that contract.
Trading in Dutch hubs received a further boost when Nederlandse Gasunie NV
(N.NEG) decided, after months of wrangling with regulator DTe, to lower its
transport tariffs by 6.5% from January 2001 and to unbundle its combined
commodity and service tariff, the so-called CSS system, from July 2001.
Gasunie now claims its pipeline system is fully open and transparent. To
prove this, it says it has lost 30% of its customers in the eligible market,
but that figure hasn't changed much since March 2000. Small wonder that
critics say the switching figure doesn't necessarily indicate an ideal system
of third-party access.
According to energy consultants The Brattle Group, around half of the gas
used by alternative suppliers goes through the 1 bcm/year Zebra pipeline from
Zelzate to Zeeland, which was built by Dutch utilities a few years ago
precisely because Gasunie refused to provide access on favorable terms.
Shippers have complained that the hourly system used by Gasunie to balance
the pipeline system raises the overall cost of shipping through its network
significantly. Gasunie imposes a balancing charge which effectively forces
shippers to pay for the extra gas brought into the system from storage sites,
in addition to the capacity and transmission price. Critics say Gasunie has
so far failed to unbundle these charges, although it agreed to do so in
January.
According to the Brattle Group, another controversial aspect of Gasunie's
tariff system is that it is based on theoretical costs of constructing new
pipelines rather than its actual costs.
The DTe is also considering ways of reforming the storage system to make it
competitive. BP PLC (U.BP) and Nederlandse Aardolie Maatschappij NV operate
storage facilities and lease capacity to Gasunie through long-term contracts.
The regulator is studying ways of allowing third parties access to storage
facilities. Gasunie has so far shown little sign of negotiating more
competitive tariffs with storage operators and passing on the benefits to
customers, critics say.
The growth of short-term trading in the Dutch gas market is also inevitably
linked to its potential as a transit country for gas coming from the
U.K.-Belgium gas interconnector and going towards the 82bcm-a-year German
market.
Market participants say liquidity at the Emden and Oude hubs has grown
considerably since E.On and RWE started trading there earlier this year.
However, the obstructive attitude of incumbents toward third-party access
there has meant that so far most gas traded in the Netherlands has remained
there.
-By Germana Canzi, Dow Jones Newswires; +44 20 7842 9283;
germana.canzi@dowjones.com

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

USA: Big U.S. exporters to fight Ex-Im Bank cuts - WSJ.

03/07/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, March 7 (Reuters) - America's largest exporters are launching an
aggressive lobbying campaign on Capitol Hill to protect the Export-Import
Bank from budget reductions, the Wall Street Journal reported in its online
edition on Wednesday.
The exporters, including Boeing Co. , Caterpillar Inc. , Enron Corp. ,
Halliburton Co. and others, are angry and confused that a Republican
administration has targeted one of their favourite programmes for big cuts,
the paper reported.
Ex-Im Bank officials were not talking publicly, avoiding the appearance that
they are battling the White House to overturn the proposed 25 percent cut in
the bank's $865 million operating budget for the current fiscal year, which
ends Sept 30, it said.
The White House labels the Ex-Im Bank as corporate welfare.
"The administration has fired its shot, and now we're firing ours," Edmund
Rice, president of the Coalition for Employment Through Exports, an industry
group that is leading the effort, was quoted as saying by the paper.
Executives at Boeing, Caterpillar and other big companies plan to contact
some 100,000 smaller suppliers who benefit indirectly from the $12.6 billion
of export loans, guarantees and insurance that Ex-Im Bank provided in the
last fiscal year, the paper said.
Those small companies, the executives hope, will create a groundswell of
support in Congress for the Ex-Im Bank, it said.
New York Newsroom (212) 859-1700.

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

Major U.S. Exporters Rush to Export-Import Bank's Defense

03/07/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -- Angry and confused that a Republican administration has
targeted one of their favorite programs for big cuts, America's largest
exporters are appealing for help from lawmakers, Wednesday's Wall Street
Journal reported.
Boeing Co. (BA), Caterpillar Inc. (CAT), Enron Corp. (ENE), Halliburton Co.
(HAL) and others are launching an aggressive lobbying campaign on Capitol
Hill to protect the Export-Import Bank from budget reductions; the White
House labels the Ex-Im Bank as corporate welfare.
"The administration has fired its shot, and now we're firing ours," said
Edmund B. Rice, president of the Coalition for Employment Through Exports, an
industry group that is leading the effort.
Since they got wind of the proposed cuts a few weeks ago, business lobbyists
have been trying to rally sympathetic lawmakers. And executives at Boeing,
Caterpillar and other big companies plan to contact some 100,000 smaller
suppliers that benefit indirectly from the $12.6 billion of export loans,
guarantees and insurance that Ex-Im Bank provided in the last fiscal year.
Those small companies, the executives hope, will create a groundswell of
support in Congress for the Ex-Im Bank.
Corporate lobbyists also have dug up a speech that Vice President Dick
Cheney, while chief executive of Halliburton, gave in 1997 praising the bank
and scoffing at those who consider it a giveaway to big business. They plan
to pass Mr. Cheney's comments to influential members of Congress this week.
A spokeswoman for Mr. Cheney had no immediate comment.
Ex-Im Bank officials aren't talking publicly, avoiding the appearance that
they are battling the White House to overturn the proposed 25% cut in the
bank's $865 million operating budget for the current fiscal year, which ends
Sept. 30. But an Ex-Im official said the topic has come up in conversations
between key lawmakers and Ex-Im Bank Chairman James A. Harmon, who is soon to
be succeeded by Mel Sembler, a Bush campaign fund-raiser and a
shopping-center developer.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.

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

Report on Business: The Wall Street Journal
What's News
United States
Wall Street Journal

03/07/2001
The Globe and Mail
Metro
B10
"All material Copyright (c) Bell Globemedia Publishing Inc. and its
licensors. All rights reserved."

Boeing Co., Caterpillar Inc. and Enron Corp. are among the big U.S. exporters
launching an aggressive lobbying campaign on Capitol Hill to protect the
Export-Import Bank from budget reductions. The White House labels the Ex-Im
Bank as corporate welfare. "The administration has fired its shot, and now
we're firing ours," said Edmund Rice, president of the Coalition for
Employment Through Exports, an industry group leading the campaign. Since
they got wind of the proposed cuts a few weeks ago, business lobbyists have
been trying to rally sympathetic U.S. law makers.

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

Deal with state could take until 2002 to close
By LESLIE GORNSTEIN
AP Business Writer

03/06/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

LOS ANGELES (AP) - A tentative deal aimed at rescuing Southern California
Edison from insolvency might not close in time to prevent the utility from
begging creditors for more patience, Edison officials said Tuesday.
The utility's tentative, $2.7 billion agreement to sell its power lines to
the state could take until 2002 to be consummated, thanks to complicated
legal issues and other paperwork, an Edison official told bondholders Tuesday.
Once the deal is signed, Edison will try to borrow against the promised cash,
but Edison International Chief Financial Officer Ted Craver admitted the
utility might have to ask creditors to simply wait for their money until it
has the $2.7 billion in hand.
Energy suppliers owed money by Edison did not immediately return calls for
comment Tuesday.
At least four groups of suppliers have sued Edison for millions in unpaid
bills going back months. Edison and fellow utility Pacific Gas & Electric
have said they have lost $13 billion on the open power market thanks to
soaring prices paired with state-imposed price caps.
PG&E's parent company was able to recently borrow $1 billion to pay its
stockholders and its debuts. It did not use any of that money to pay PG&E's
bills.
Edison's disclosure, meanwhile, shocked state officials.
Steve Maviglio, spokesman for Gov. Gray Davis, initially declined to comment
on the status of the Edison deal, but eventually said, regarding its closure,
"We're optimistic it will be sooner rather than later."
The pacing would have nothing to do with whether fellow utilities Sempra
Energy and PG&E also sell their transmission lines to California, Craver
said.
Among the things that could delay the deal's closing is Edison's need to find
landowners on whose property its lines were built to assure no legal
agreements are being violated by the sale. Edison would also have to pin down
exactly what it would be selling to the state - terms that might not be
decided until after a deal has been inked, Craver said.
"Trust me," Craver said in a phone call after the conference. "There are a
lot of legal-type documents - stuff that you and I ... would think of as a
bloody nightmare."
The disclosure comes at a time when an increasing number of power suppliers
are suing the utility for millions in unpaid bills.
Edison also disclosed Tuesday that two more lawsuits had landed in its lap -
one by a group of wind-powered generators including Enron Wind, the other by
two suppliers including New York-based Caithness Energy.
Both suits were filed during the past five days, Edison Assistant General
Counsel Barbara Reeves said. It was not immediately clear how much the
complainants were seeking; neither Enron nor Caithness returned calls for
comment.
The two filings bring the total number of suits by renewable-energy suppliers
against Edison to four, the utility said. The city of Long Beach and
CalEnergy Operating Group, a geothermal supplier, have also sued for back
payments.
CalEnergy alone has said it is owed $45 million in November and December
payments.
The line sale, part of a multifaceted, tentative deal with the state that
could save Edison from insolvency, could take anywhere from several months
into next year, Craver said.
The tentative deal, announced by Gov. Gray Davis Feb. 23, calls for the state
to pay more than twice the book value for Edison's lines.
It also would require Edison to sell cheap power to the state for a decade
and for Edison to end its lawsuit against state regulators. The suit asserts
that price caps imposed by the California Public Utilities Commission are
illegal under federal law.
Additionally, Edison's parent would have to return $420 million it collected
from the utility over the past several years. The money was used to pay debt,
buy back stock and pay dividends to investors.
SCE, PG&E and Sempra have complained they are near bankruptcy because of
soaring prices on the open market combined with the state-imposed price caps
for consumers.
Sempra and PG&E have yet to announce similar line-sale deals with the state,
though they and the governor have said negotiations are ongoing. The total
cost of the 26,000 miles of lines has been estimated at $4.5 billion to $7
billion.

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

Sierra Pacific CEO Doubts SEC OK Of Enron Unit Buy-Report

03/06/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LOS ANGELES -(Dow Jones)- Sierra Pacific Resources (SRP) CEO Walter Higgins
said in an interview last week that he doubts the company's $3.1 billion
acquisition of Enron Corp.'s (ENE) utility Portland General Electric will be
approved by the federal Securities and Exchange Commission, the Las Vegas Sun
reported Tuesday.
The SEC must find that Sierra Pacific is in a strong financial position
before it will approve the deal, but the company is currently weakened by
having lost millions of dollars in fuel and purchased power costs, Higgins
said in the report.
A $311 million rate increase to cover those costs began March 1, but Higgins
said that money would only pay back those expenses and wouldn't improve the
company's stability to a level the SEC would find adequate, according to the
report.
The Public Utilities Commission can halt the rate hike and order refunds if
it decides the hike isn't necessary. The PUC is holding hearings to determine
the prudency of the hike, and members of the state's powerful casino and
mining industries have filed to intervene.
Sierra Pacific's plan to shore up its financial position through the sale of
its 10 power plants, worth nearly $2 billion, may also be in jeopardy. The
state Senate is considering a bill to block the sales, and Nevada Gov. Kenny
Guinn recently sent a letter to the PUC asking that it reconsider its order
allowing electric utilities to sell assets.
Financial analysts have said that not allowing Sierra Pacific's two utilities
to sell their assets would have a ripple effect on the company's financial
position. The asset sales are tied to low-priced power contracts, and if the
sales are canceled, the low-priced power will be gone as well.
"If the divestiture is stopped...the state may be dealing with a much bigger
rate increase," Steve Fleishman, Merrill Lynch utility analyst, told Dow
Jones Newswires recently.
Sierra Pacific is the parent company of electric utilities Sierra Pacific
Power Co. and Nevada Power, which serve customers in the state's North and
South, respectively.
-By Jessica Berthold, Dow Jones Newswires; 323-658-3872,
jessica.berthold@dowjones.com -0- 07/03/01 01-04G

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

Many Power Deals Announced by California Governor Still Not Final
By Jason Leopold

03/06/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Dow Jones Newswires
LOS ANGELES -- Many of the long-term power-supply contracts announced by
California Gov. Gray Davis this week remain under negotiation or are the
subject of ongoing lawsuits, power suppliers said Tuesday.
The lack of finality to the deals raises questions about the state's success
in covering its power needs, particularly going into what is expected to be
an unusually tight summer.
Generators said privately they were surprised the governor went ahead with
his announcement Monday, given that many of the contracts haven't been
signed.
David Freeman, general manager of the Los Angeles Department of Water and
Power, who negotiated the contracts on behalf of the state, conceded that
details remain to be worked out. "This is not a done deal," Mr. Freeman said,
adding that credit concerns are keeping generators from signing the deals.
Gov. Davis announced Monday that California has secured 40 long-term
contracts that will provide California with about 629 million megawatt hours
of electricity over 10 years, at a price of more than $40 billion. A megawatt
hour is roughly the amount of electricity needed to power 1,000 homes.
Several of those forward deals, however, involve contracts originally held by
Edison International (EIX) unit Southern California Edison and PG&E Corp.
(PCG) unit Pacific Gas & Electric at the California Power Exchange,
previously the state's main power market.
The governor seized those contracts earlier this year, just before the Power
Exchange liquidated them to cover hundreds of millions of dollars in power
bills the utilities had failed to pay.
The contracts, which total about 1.3 million megawatt hours of electricity
and have a market value of about $1 billion, according to market sources,
have yet to be paid for or signed over to the state. Duke Energy Corp. (DUK),
one of the suppliers that sold the contracts to Pacific Gas and SoCal Ed, has
sued Gov. Davis for unlawfully commandeering those contracts.
Although Duke has reached an interim settlement to continue providing power
to the state Department of Water Resources until April 30, the company and
the Davis administration still have to "develop a comprehensive long-term
settlement to pay for the power supply contracts," said Duke spokesman Tom
Williams.
The governor went ahead with the announcement, because the California
Department of Water Resources believes it will be able to finalize and sign
the contracts over the next several weeks, Davis spokesman Steve Maviglio
said.
Separately, several suppliers named in the governor's announcement Monday --
including Duke, Reliant Energy Inc. (REI), Mirant Corp. (MIR), Sempra Energy,
Enron Corp. (ENE) and Avista Corp. (AVA) -- said they have yet to sign final
agreements with the state, although negotiations were ongoing.
"We are working in good faith with the DWR toward a long-term contract," said
Art Larson, spokesman for Sempra Energy Resources, a unit of Sempra. Mr.
Larson said Sempra signed a terms of agreement with the water-resources
department and expects to reach a final agreement over the next several
weeks.
Reliant said it has only signed a short-term contract with the state that
expires in about two weeks. The company will only sign a long-term contract
once it's paid more than $400 million owed by Pacific Gas and SoCal Ed,
spokesman Richard Wheatley said.
Mirant said it also won't sign contracts with the state until it's paid.
Enron said it's reached agreement on terms with the state, but has some
credit-related details to hammer out. "Everything's been agreed to except for
some credit technicalities," Enron spokesman Mark Palmer said.
Meanwhile, small, independent power plants in California that are capable of
generating 1,800 megawatts of power are shut down because their owners
haven't been paid by the state's two main utilities, the California
Independent System Operator said Tuesday.
The decline in small-plant output has contributed to the state's power-supply
problems the past two months. Partnerships involving El Paso Corp. (EPG), for
example, shut down 350 megawatts of generation last weekend due to
nonpayment, the company said Tuesday.
SoCal Ed hasn't paid the owners of the smaller generators, known as
"qualifying facilities," since early December, which means the generators are
still owed for electric production in October, while PG&E has paid only a
small percentage of its qualifying facility bills since its last full payment
in early January.
The plants, one-third of which are powered by renewable sources like wind and
solar power, meet almost 30% of California's electricity needs. Almost all of
the closed generators are fueled by natural gas, and many haven't been able
to pay their gas suppliers and have been cut off from their gas supply.
The California Senate Energy Committee plans to vote on legislation to create
a new pricing system for all qualifying facilities this week. The proposed
bill would cut the prices to qualifying facilities from about 17 cents a
kilowatt-hour the past eight months to about eight cents, depending on the
price of five-year natural-gas contracts the generators can sign. The plants
that run on renewable resources would be paid 5.4 cents a kilowatt-hour.
-- Mark Golden contributed to this article.
Write to Jason Leopold at jason.leopold@dowjones.com
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved

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

US Natural Gas Prices Fall As Demand Slips In Most Areas

03/06/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- U.S. natural gas physical prices fell Tuesday as demand
eased, except in the Northeast and Southeast areas of the country, traders
said.
Heavy snowstorms in the upper Northeast supported some pricing, as did cooler
weather in Georgia, the Carolinas and the Florida panhandle.
Some storage buying occurred in Texas "if they could make it work," a trader
said.
"It was a pretty uneventful day," a Gulf Coast trader said late Tuesday.
Also, because of the snowstorm in the Northeast, traders had purchased gas
ahead of time to make up for needed load, he said.
A scheduled work outage on Enron's Transwestern San Juan lateral in New
Mexico was completed, and the return of a power plant in California
alleviated demand in the West, traders said.
At the Arizona-California border hub, buyers paid around $13-$33 a million
British thermal units, West Coast traders said, down as much as $15 from
Monday.
At PG&E Citygate, prices were mixed, with buyers paying $9.75-$10.65/MMBtu,
down 25 cents on the bid, up 15 cents on the offer.
In the Midwest, Chicago Citygate prices fell 7 cents-8 cents to a range of
$5.42-$5.53/MMBtu. Alliance Pipeline into Chicago traded around
$5.47-$5.52/MMBtu, down 4 cents to 9 cents from Monday.
The Nymex April natural gas futures contract settled at $5.315/MMBtu, down
2.1 cents in a tight, range-bound, uneventful session that started late due
to bad weather.
Physical gas prices at the benchmark Henry Hub in south Louisiana ended in a
range of $5.25-$5.30/MMBtu, down 2 cents-6 cents from Monday.
Transcontinental Gas Pipe Line at Station 65 deals were made in a similar
range of $5.26-$5.35/MMBtu, down 2 cents on the bid, unchanged on the offer.
At Katy in East Texas, buyers paid $5.21-$5.30/MMBtu, down 5 cents-6 cents.
At Waha, prices fell 9 cents-12 cents to a range of $5.15-$5.30/MMBtu.
-By John Edmiston, Dow Jones Newswires; 713-547-9209;
john.edmiston@dowjones.com

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


Dear Mr Lay

Eyeforenergy Asia 2001 takes place at the Shangri La Hotel in Singapore,
15-17 October.  It is the follow-up to last year's e-Business for Energy
Asia Pacific, which also took place in Singapore, and will be the
meeting-place this year for the senior energy executives in the region to
discuss all the latest developments in the industry - e-business, regulatory
change, and the subsequent financial impact on both the new and old
economies.

I would like to invite you to give a keynote presentation at the conference.
I have attached the full program.

We expect 150 very senior delegates from across the energy industry, from
Asia and beyond - oil and gas co's, but also electricity utilities, as well
as exchanges, analysts and investors.  Speakers will come from companies
such as Caltex, BP, Shell, Petronas, Premier and Texaco, and, hopefully,
Enron.

If you have any questions at all, or would like to discuss your presentation
in more detail, please do not hesitate to give me a call or drop me an
email.

Best regards

Joe Barry
Conference Director
Eyeforenergy
www.eyeforenergy.com/asia

t - +44 (0)20 7375 7171
f - +44 (0)20 7375 7511
e - jbarry@eyeforenergy.com


Thanks,  I await return of the confirm from Citation.

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


It probably won't be available until after the Holiday.   The reason I say that is because we haven't received the bill from Public Service yet.

Are you out any time from now until the end of the month?

 -----Original Message-----
From: 	Parker, Megan
Sent:	Monday, November 19, 2001 12:57 PM
To:	Staab, Theresa
Subject:	Citizens 10/01

Theresa:
Do you know when the Citizens numbers will be ready for Oct. 2001?  I'm trying to get them billed before the holidays.

Thanks,
Megan


Jean:
I think the location i talked about before is actually better for you.  The
area towards the edge of the building borders the northeast gas group,
long-term originators, and mid-market orig group.  not exactly who you need
to be around.  the location in the center is much closer to the east gulf
group, specifically sandra, and the same distance to the central and texas
trading groups.  most importantly, it provides room for both your group and
the trading group to expand.  call me if you want to talk further....
thanks for the article.
john


Regan,

Hey, I hope things are still going well.  I've been thrown right into the mix
right away and have barely had a minute to breathe.  I'm scheduling gas after
the morning trades have been made which basically entails lining up the
buyers and sellers to exchange contract numbers.  However, it's a great place
to learn operational logistics.  The intent is that I'll be productive in the
role immediately while learning the ropes.  As they hire the needed full-time
schedulers and I get up to speed, I'll move into market research for the
traders.  My first such assignment is to value storage in different markets
based on historical gas pricing and injection-withdrawel strategies.  Let's
just say my plate looks to be full.

By the way, I'm sure you saw the previous email from our buddy, Ted Bland.
Looks like he got the message, although I'm still feeling like there's still
some orientation regarding the A/A program itself that we're missing.  For
instance, did you see that there's a whole page in the intranet dedicated to
the program.  It mentions month guest speakers and lunches.  I also saw
mention of a mentoring program.  Of course, the A/A happy hours important as
well.  I'd like to know more.

Anyway, the real reason I wanted to drop the line is to find out if you're
spending all your time in Georgia, or if you want to grab lunch sometime this
week or hear of any after work activities that would help in meeting other
people at Enron.  You can reach me at 3-0472.

Later,

Mat


Thx,
I do not have high speed service yet.

Ina Rangel
10/12/2000 10:28 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Follow - Up

John,

I just wanted to update you on some of the things that you wanted me to do:

1. I have ordered your computer and accessories for home use.  Once it comes
in Jay Webb and Don Adams of IT and EOL will make sure that everything you
need will be programmed on your computer.

2. I I have ordered your t.v for the office

3. I am working with telerate department on how you will be able to access it
from your home.

4. Polycom is installed in your office

5. I am still investigating different cellular phone companies

I will get back to when everything is completed.

And one question, do you all ready have DSL or any king of internet service
at home?

Ina


Posoli Work Phone:  713-830-8663


EnronOnline passes one million transactions.  Woohoo!

Also in this issue:
Enron.com -- it's fabulously new and improved!
How Enron likes Bush's new energy policy
California update
What's going on in the French wholesale market?
Learn about caps -- not the ones you wear, of course.
What do Frank Gehry and Enron have in common?
Jeff leads in a dangerous time

It's all in the latest eBiz.  Go to home.enron.com, click Publications, then click eBiz, and "eBiz May 25, 2001."


Please let me know if there are any issues on financial transactions with
Virginia Electric & Power Company.  Thanks,      Ed Sacks


---------------------- Forwarded by David W Delainey/HOU/ECT on 11/09/2000
05:27 PM ---------------------------

rob.milnthorp@enron.com on 11/09/2000 03:51:22 PM
To: ddelain2@enron.com
cc:
Subject: Approval for reviewer

MILNTHORP,PHILLIP R  has suggested reviewers and submitted them for your
approval.  You may review/modify this list of reviewers by logging on to PEP
at http://pep.corp.enron.com  and going to Supervisor Services.  Please
remember, no feedback can be completed on MILNTHORP,PHILLIP R  until you have
approved the list.


amy pogue
4863 n. talman ave 1
chicago, IL 60625
apogue@bust.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you
made from selling Enron stock before the company
declared bankruptcy to funds, such as Enron Employee
Transition Fund and REACH, that benefit the company's
employees, who lost their retirement savings, and provide
relief to low-income consumers in California, who can't
afford to pay their energy bills.  Enron and you made
millions out of the pocketbooks of California consumers
and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of
Enron's employees were financially devastated when the
company declared bankruptcy and their retirement plans
were wiped out.  And Enron made an astronomical profit
during the California energy crisis last year.  As a result,
there are thousands of consumers who are unable to pay
their basic energy bills and the largest utility in the state is
bankrupt.

The New York Times reported that you sold $101 million
worth of Enron stock while aggressively urging the
company's employees to keep buying it.  Please donate this
money to the funds set up to help repair the lives of those
Americans hurt by Enron's underhanded dealings.

Sincerely,

amy pogue


I have an all day conflict 2nd and 3rd.

-----Original Message-----
From: Sheila.Tweed@enron.com [mailto:Sheila.Tweed@enron.com]
Sent: Thursday, April 26, 2001 6:37 PM
To: Ed.B.Hearn.III@enron.com
Cc: dean.russell@enron.com; ed.b.hearn.iii@enron.com;
john.g.rigby@enron.com; kay.mann@enron.com; kent.shoemaker@ae.ge.com;
michael.barnas@ps.ge.com; pthompson@akllp.com;
roseann.engeldorf@enron.com; scott.dieball@enron.com;
sheila.tweed@enron.com; stephen.swift@ps.ge.com
Subject: Re: World Hunger

This would be in lieu of the Monday call at 1pm.  Sorry for all the
confusion!

Ed B Hearn

III                  To:     michael.barnas@ps.ge.com,

scott.dieball@enron.com,

04/26/2001           roseann.engeldorf@enron.com,

05:30 PM             ed.b.hearn.iii@enron.com,
kay.mann@enron.com,
john.g.rigby@enron.com,
dean.russell@enron.com,
kent.shoemaker@ae.ge.com,
stephen.swift@ps.ge.com,
pthompson@akllp.com,
sheila.tweed@enron.com,
pthompson@akllp.com

cc:

Subject:     World Hunger

Sheila would like to schedule the call for Wednesday, April 25.  Does 10:00
AM Central work ?


Colleen, this is the email response I received.

Kim, could you find out from payables if we are making payments to a company
called "Capacity Center"?  If we are, I would like to know who with Enron is
authorizing these payments.

Thanks.

---------------------- Forwarded by Chris Germany/HOU/ECT on 07/07/2000 12:36
PM ---------------------------

"Carol Christopher" <cchris@capacitycenter.com> on 06/20/2000 01:11:42 PM
Please respond to <cchris@capacitycenter.com>
To: "\"Chris Germany\"" <Chris.Germany@enron.com>
cc:
Subject: Capacity Center.com inquiry

It is the policy at CapacityCenter that we not disclose the names of our
customers.  One Enron person is currently enrolled for our services.  I have
forwarded your question on to them so they may contact you directly.

If you are interested in learning more you can sign up for two week free
trial.  Link to http://www.capacitycenter.com then click on the free trial
button.  I would suggest that you print it out for reference while you sign
up for the trial.

Carol Christopher
Business Solutions Manager
800-883-8227


----- Forwarded by Tana Jones/HOU/ECT on 04/11/2001 01:55 PM -----

	Aparna Rajaram/ENRON@enronXgate
	04/11/2001 01:52 PM

		 To: Kelly Lombardi/NA/Enron@Enron, Samuel Schott/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Steve Venturatos/HOU/ECT@ECT,
Camille Gerard/Corp/Enron@ENRON, Samuel Schott/HOU/ECT@ECT, Tanya
Rohauer/ENRON@enronXgate, Tom Moran/ENRON@enronXgate, Tana Jones/HOU/ECT@ECT,
Frank L Davis/HOU/ECT@ECT, Ken Curry/ENRON@enronXgate, Nicole
Hunter/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate
		 cc:
		 Subject: Click Paper Approvals, 04-11-01

Please see attached.

Aparna Rajaram
Ph: (713) 345-4563
Fax: (713) 853-9476
Aparna.Rajaram@enron.com


Ava, have you taken care of this?  Thanks. Lynn
---------------------- Forwarded by Lynn Blair/ET&S/Enron on 06/17/2001 05:31 PM ---------------------------

<iBuyit.Payables@Enron.com> on 06/12/2001 02:50:05 PM
To:	<gblair@enron.com>
cc:

Subject:	Action Requested:  Invoice Requires Coding/Issue Resolution/Approval 01790100050371

Please do not reply to this e-mail.

You are receiving this message because an invoice requiring coding, issue resolution, or approval has been submitted to your iBuyit Payables in-box.  This requires your action through iBuyit Payables.

To launch iBuyit Payables, click on the link below:
http://iBuyitPayables.enron.com

Note:  Log into iBuyitPayables using the same Employee PID (P-Number) and Password you use to enter the eHRonline system and/or SAP.

First time iBuyit Payables user?  For training materials, click on the link below:
http://sap.enron.com/sap_doclib/user/file_list.asp?cabinet_id=265

Need help?
Please contact the ISC Call Center at (713) 345-4727.


The Board meeting has concluded and I can now focus on the task force. The
following people in RAC have been assigned to this effort as follows:

Legacy Opportunity

Molly Harris
Teresa Seibel
James Copeland
Michael Tribolet
Jay Hachen
Minal Dalia
Don Rollins
Rick Carson
Jeff Soo
Debbie Brackett
Sue Vasan

On Going Opportunities

Denise Fury
Mark Wilson
Dana Smith
Andrew Greer
Martin O'leary
Jay Hachen
Dave Gorte
Darren Schmidt
Vladi Gorny
David Port
Jeff Soo

This is a huge commitment of staff from RAC and will strain us no end, but it
is necessary. If you want RAC to lead this effort I will appoint Michael
Tribolet to manage the task. If you want someone else to manage the  effort
we will assist as we can. Regardless of who leads this effort we need
following:

Commitment of EES back office staff people
Commitment of IT resources
Commitment of Skilling to fund the overage to the RAC budget, which I am
under huge pressure to reduce, not increase.

Let me know how to launch this program.

Rick


Mary Hain has resigned her position with Enron.  Please remove her from all
your mail lists.

Thank you.

Lysa Akin
Gov't Affairs - Sr. Admin. Ass't.

From: Sara Davidson/ENRON@enronXgate on 03/28/2001 11:30 AM CST
To: Daniel Allegretti/NA/Enron@Enron, Denise
Almoina/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kevin Altit/BRZ/AZURIX@Azurix,
Ray Alvarez/NA/Enron@ENRON, Mark Antonvich/ENRON@enronXgate, Yao
Apasu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lynn Aven/ENRON@enronXgate, Gareth
Bahlmann/ENRON@enronXgate, Peggy Banczak/HOU/ECT@ECT, Emilio
Battioli/BUE/AZURIX@AZURIX, Maria Pia Beccaccini/SA/Enron@Enron, Eric
Benson/NA/Enron@ENRON, Chandran Bhaskar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt,
Alan Black/LON/ECT@ECT, Michelle Blaine/ENRON@enronXgate, Roy
Boston/HOU/EES@EES, Samantha Boyd/NA/Enron@Enron, Sandi M
Braband/HOU/ECT@ECT, Stephen Brooke/NA/AZURIX@AZURIX, Mary Nell
Browning/LON/ECT@ECT, Janet Butler/ENRON@enronXgate, Teresa
Callahan/ENRON@enronXgate, Andrea Calo/SA/Enron@Enron, Dominic
Carolan/ENRON@enronXgate, Rebecca Carter/Corp/Enron@ENRON, Michelle
Cash/HOU/ECT@ECT, Jon Chapman/LON/ECT@ECT, Charles Cheek/ENRON@enronXgate,
Kim Collins/HOU/EES@EES, Allan Conge/HOU/AZURIX@AZURIX, Edmund
Cooper/LON/ECT@ECT, Susan T Covino/HOU/EES@EES, Ned E
Crady/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Aleck Dadson/TOR/ECT@ECT, Chris
Dalton/HOU/EES@EES, Shonnie Daniel/HOU/ECT@ECT, Eddy Daniels/NA/Enron@Enron,
vcferraz@elektro.com.br@SMTP@enronXgate, Peter del Vecchio/HOU/ECT@ECT,
Jeanine DeNicola/HOU/EES@EES, Rhonda L Denton/HOU/ECT@ECT, Jim
Desrochers/NA/Enron@Enron, Donette Dewar/ENRON@enronXgate, Richard
DiMichele/Enron Communications@Enron Communications, Elisa
Donovan/HOU/EES@EES, Dari Dornan/ET&S/Enron@ENRON, Stephen H
Douglas/ENRON@enronXgate, Anthony Duenner/Enron Communications@Enron
Communications, Adam Duguid/LON/ECT@ECT, Stacy Dunegan/ENRON@enronXgate, Mark
Elliott/LON/ECT@ECT, Denise Ernest/ENRON@enronXgate, Angel M
Esguerra/Enron_Development@ENRON_DEVELOPMENT, Carol Essig/ENRON@enronXgate,
Jeffrey K Fischer/HOU/EES@EES, Nony Flores/HOU/ECT@ECT, Shawna
Flynn/HOU/ECT@ECT, fmackin@aol.com@SMTP@enronXgate, Sivert Fogerlie/Western
Region/The Bentley Company@Exchange, Drew Fossum/ET&S/Enron@ENRON, Richard
Freed/HOU/EES@EES, Brenda L Funk/ENRON@enronXgate, Robert H
George/NA/Enron@Enron, Annette Glod/ENRON@enronXgate, Fernando
Gonzalez/TRANSREDES@TRANSREDES, Diane Goode/NA/Enron@Enron, James
Grace/Corp/Enron@ENRON, David Grant/ENRON@enronXgate, Barbara N
Gray/HOU/ECT@ECT, Sarah Gregory/LON/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT,
Lauren Hagerty/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mary Hain/HOU/ECT@ECT,
Stephen C Hands/ETOL/EU/Enron@ENRON, Leslie Hansen/HOU/ECT@ECT, Joe
Hartsoe/Corp/Enron@ENRON, Jennifer Hillegonds/HOU/EES@EES, Geneva
Holland/ENRON@enronXgate, Rick Hopkinson/ENRON@enronXgate, Lee
Huber/ET&S/Enron@ENRON, James A Hughes/ENRON@enronXgate, Tony
Jarrett/HOU/AZURIX@AZURIX, Lina Jimenez/ENRON@enronXgate, Jan
Johnson/GPGFIN/Enron@ENRON, Paul Johnson/ENRON@enronxgate, Greg
Johnston/CAL/ECT@ECT, Tana Jones/HOU/ECT@ECT, Piyush
Joshi/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cristina
Juvier/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gina Karathanos/ENRON@enronXgate,
Lena Kasbekar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep Katwala/Enron
Communications@Enron Communications, Paul Kaufman/PDX/ECT@ECT, Steven J
Kean/NA/Enron@Enron, Jeffrey Keeler/Corp/Enron@ENRON, Paul
Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William
Krenz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Candace Kyle/ENRON@enronXgate
cc:
Subject: REMINDER -- Law Conference (Distribution List 1)

     Enron Law Conference

        Reminder

                   Submit your Online RSVP Form now!

The deadline for replying to the 2001 Enron Law Conference is fast
approaching!  Please go to  http://lawconference.corp.enron.com and fill out
your Online RSVP Form.  Don't forget to respond if you will be attending the
Thursday night awards dinner as well.  Once you have submitted your RSVP
Form, you should receive a confirmation e-mail.  Please review your
confirmation information and let me know if there are any changes.

Remember, responses must be submitted no later than Friday, March 30, 2001.
See you in San Antonio!


FYI

-----Original Message-----
From: stacey scrima [mailto:stacey@fea.com]
Sent: Monday, August 20, 2001 5:17 PM
To: Lu, Zimin
Subject: @ENERGY/Storage

Dear Zimin,

Please find attached a document explaining the three valuations of
@ENERGY/Storage and a document containing speed enhancement suggestions.  I
am working on an  optimal value/hedge example template now that I will send
to you once completed.  This will show the relationship between the optimal
value and hedge strategy.  I will talk with you soon.

Regards,

Stacey Scrima
Financial Engineering Associates, Inc
tel: 1.510.548.6200
dir: 1.510.549.8702 x215
fax:1.510.548.0332
mailto:stacey@fea.com
www.fea.com


The information was sent to the FPSC staff on Tuesday, March 27, 2000.  Tom
did review the document prior to it being sent to the FPSC.  Gulf added a
small paragraph regarding the outages experienced on our 230kV system.  We
do not have access to AEC's information.  Thus, far we have seen no filings
from AEC or WFEC.

Russell A. Badders

----- Original Message -----
From: <Gerald.Nemec@enron.com>
To: <rab@beggslane.com>
Cc: <Mark.Knippa@enron.com>; <Chris.Hilgert@enron.com>; <bill@katzlaw.com>;
<JASTONE@southernco.com>
Sent: Wednesday, March 28, 2001 2:02 PM
Subject: Re: Staff Question re: 115/230

Russell,  I reviewed this with our business guys and they were fine with
what you represent here.  We did not check this with Tom Balcerowiz and he
needs to take a look at it.  Have your technical people gotten with Tom yet
on any of these issues?  If not then we can run it down on this end.

Our only concern was that reliability between Gulf's 230 kv system and
AEC's 115 kv system was not addressed.  It was our understanding that this
was a question of the PSC staff.  Are there plans to provide any
information concerning this item, or is no information available from AEC
for such assessment?

Any word concerning WFEC's response to our petition or any filings they
have made with the PSC?

                    "Russell A.
                    Badders"             To:     <Gerald.Nemec@enron.com>
                    <rab@beggslan        cc:
                    e.com>               Subject:     Staff Question re:
115/230

                    03/21/2001
                    09:35 AM

Please review the attached document. Mr.  Bryant and possibly Tom on your
end may want to see this before it goes. I  hope to transmit this to PSC
Staff Thursday March 21, 2001.   Thanks
Russell
(See attached file: staffissue.doc.doc)


The impact on the book for the PG&E and SCE increases described below would be

April to December 2001:  $86.9 million  ($38.8 mm PG&E; $48.1 mm SCE)
For whole book, $195 million (PV).

/Tamara.

---------------------- Forwarded by Tamara Johnson/HOU/EES on 02/13/2001
10:15 AM ---------------------------

Tamara Johnson
02/13/2001 10:16 AM
To: Scott Stoness/HOU/EES@EES
cc: Marcus Dotson/HOU/EES@EES, Jodi Thrasher/HOU/EES@EES, Yasir
Khan/HOU/EES@EES, Greg Cordell/HOU/EES@EES
Subject: prelim numbers on expected generation cost increases for CA bundled
rates

I have reviewed the preliminary drafts by the 3 CA IOU's with respect to
required generation purchases.

My analysis shows that bundled customers would need to see the following
increase in the generation portion of their bundled rate to pay for the
shortfall (increase above the $10/MWh).  I used $90/MWh as an average rate
for the DWR purchases.

PG&E $12/MWh
SCE $23/MWh

Note that this does not recover any past undercollections for previously
purchased energy.  PG&E is proposing an adder of $7/MWh for undercollections.

For SDG&E, the currently rate-capped customers (at $65/MWh) would need to see
a $43/MWh increase.