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Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
              Wednesday, January 2, 2002 No. 896
Visit: http://www.enerfax.com/ or for Oil Prices & News
http://www.enerfaxgold.com/
PHYSICAL NATURAL GAS PRICES
Gulf/Eastern Region
| Agua Dulce              | 2.44  |
| ANR SE                  | 2.59  |
| Carthage TG             | 2.53  |
| Chicago Citygate        | 2.70  |
| Columbia Gulf Onshore   | 2.67  |
| Dominion South Point    | 2.80  |
| Henry Hub               | 2.64  |
| Houston Ship Channel    | 2.59  |
| Katy Hub                | 2.53  |
| NGPL LA Pool            | 2.57  |
| NGPL - Midcontinent     | 2.51  |
| NGPL STX                | 2.49  |
| NGPL TX/OK              | 2.53  |
| NNG Demarc.             | 2.58  |
| Niagara                 | 2.89  |
| Sonat Tier 1            | 2.60  |
| TCO IPP Pool            | 2.76  |
| Tetco ELa               | 2.57  |
| Tetco M-3               | 3.20  |
| Tetco STX               | 2.44  |
| TGP Zone 0              | 2.48  |
| TGP Zone 1 (500 Leg)    | 2.59  |
| TGT Zone SL             | 2.64  |
| New York Citygate       | 3.46  |
| Transco Station 65      | 2.66  |
| Transco Zone 6 (NY)     | 3.47  |
| Trunk ELa               | 2.59  |
| Western Region
| California Border       | 2.47  |
| El Paso Keystone        | 2.34  |
| El Paso San Juan-Blanco | 2.32  |
| Waha Hub                | 2.46  |
| Canadian/Rockies Region
| Nova/Aeco (C$/gig)      | 3.57  |
| Dawn Hub/Union          | 2.81  |
| Northwest Stanfield     | 2.37  |
| Wyoming Pool            | 2.24  |
| Opal/Kern River         | 2.26  |
| PGT-Malin               | 2.42  |
| Sumas                   | 2.34  |
        Flow Dates 12/29-31
-------------------------------------------------------------

NATURAL GAS FUTURES
Henry Hub
12 Month Strip  2.9464  +0.1528
18 Month Strip  3.0296  +0.1073
| Month | High  |  Low  | Close | Change |
| FEB   | 2.780 | 2.680 | 2.774 | +0.155 |
| MAR   | 2.755 | 2.695 | 2.746 | +0.116 |
| APR   | 2.730 | 2.670 | 2.724 | +0.094 |
| MAY   | 2.780 | 2.700 | 2.769 | +0.088 |
| JUN   | 2.830 | 2.765 | 2.824 | +0.084 |
| JUL   | 2.875 | 2.820 | 2.870 | +0.082 |
| AUG   | 2.916 | 2.880 | 2.916 | +0.083 |
| SEP   | 2.930 | 2.919 | 2.919 | +0.076 |
| OCT   | 2.950 | 2.930 | 2.947 | +0.069 |
| NOV   | 3.140 | 3.120 | 3.135 | +0.067 |
| DEC   | 3.350 | 3.310 | 3.323 | +0.065 |
| JAN   | 3.419 | 3.400 | 3.410 | +0.062 |
-------------------------------------------------------------
Natural Gas Futures Rally on Short-Covering

    Natural gas for February delivery on the NYMEX jumped $0.155 higher
Friday to $2.774 per MMBtu as winter's chill and forecasts for continued
cold throughout January for eastern states and the Midwest had locals
scurrying to cover their short positions. The March contract gained $0.123
to $2.746 per MMBtu. A flurry of buying started early in the session, a
reaction in part to Thursday's liquidation on the January contract
expiration. Clearing the books of Enron-related hedging losers in time for
year-end could also be playing a role in Friday's rally. Some of the
volatility over the past month has been triggered by larger books
balancing their hedges. Enron's demise has forced counter-parties to
recontract supplies, pushing the market with offers or with bids.
Shuffling monthly spreads from fall to winter and balancing volumes bought
at higher prices during the summer for storage will also trickle to a stop
mid-January as some storage operators call for contracted withdrawals. The
AGA will again delay its release of last week's storage data until
Thursday because of the holidays. For the first time this winter, many
traders are anticipating a triple digit withdrawal this week. Natural gas
for next day delivery across the US and Canada was generally flat to $0.10
higher Friday. Natural gas for next day delivery at the Henry hub gained
$0.01 to $2.64 per MMBtu.
-------------------------------------------------------------

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-------------------------------------------------------------
Shareholder Activism Driven by Enron Problems

    Pension funds, stockholders groups and outspoken investors have began
flooding the firms they own with proposals for change driven this year by
the collapse of Enron. Shareholders are using this year's filings to try
to make sure other companies don't go the same way as Enron. What is new
this year is the auditor independence proposals. Pension funds affiliated
with the United Brotherhood of Carpenters union have filed 12 proposals
calling on companies not to hire the same accounting firm to do both audit
and non-audit work. Enron, paid Andersen $52 million in 2000 for both
audit and non-audit services, a dual relationship that has raised
questions about Andersen's judgment. The proposals are part of an annual
flood that hits companies around the end of year. Their goal is to be
included in the company's proxy statement, which is mailed to all
shareholders, as an item to be brought to the floor of the company's
annual meeting for a vote. If companies want to exclude qualified
proposals from their proxies, they need approval from the SEC. In 2001 the
SEC handled 438 requests from companies for permission to exclude
shareholder proposals from their proxies.
-------------------------------------------------------------
Ziff Energy Group presents
Gas Storage 2002
Redefining the Fundamentals:
Is Gas Still in the Storage Game?
Power Drives Storage
Will the recession affect plant and storage development?
Will record high volumes in storage further depress gas prices?
Is it possible to mitigate storage risk while dealing with year-round
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February 6 & 7
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Register Today for this Important Conference
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Visit: www.ziffenergyconferences.com

-------------------------------------------------------------
Today's Power Bulletins
 * AltaGas Services Partner TransCanada Energy Closed Purchase of 706 MW
Sundance B Power Purchase Arrangement
 * Bankruptcy Court Approves Enron Wind Development Sale of Indian Mesa
and Clear Sky Wind Power Generating Plants in West Texas,  for $175
million to AEP
 * Settlement Reached on Sale of Montana Power's Utility to NorthWestern
Corporation as Well as Electric Restructuring Costs
 * DB Alex Brown Cuts 2001 and 2002 Earnings Estimates for Allegheny
Energy
 * US to Help Russia on Nuclear Control
 * Northeast and Mid Continent Spot Power Prices Drop from Low Holiday
Demand
 * Southeast Spot Power Prices Fall Ahead of New Years Holiday
 * Western Power Prices Rise on Holiday Weekend Risk Premiums
-------------------------------------------------------------
Get familiar with oil-gasoline.com, inc. This web site ranks
among the favorite sites for petroleum company executives.
In 2002, the corporation plans to run an interactive crude
oil model to provide the latest status of world-wide supply
and demand. You will want to bookmark this one!
-------------------------------------------------------------
Natural Gas NYMEX Volume
02JAN   75,321
02FEB   47,782
02MAR   16,226
02APR   10,032
02MAY    1,959
02JUN      807
02JLY      702
02AUG    1,316
02SEP      541
02OCT      537
02NOV      380
02DEC      845
03JAN    1,044
03FEB      259
03MAR      451
03APR        6
03MAY      516
03JUN        9
03JLY       40
03AUG       17
03SEP        2
03OCT       20
03NOV      525
03DEC        0
-------------------------------------------------------------
Energy Seminars, Inc. Announces Key Seminar Offerings for January:

Energy Seminars will be going to Florida and Calgary in 2002!

Click to www.energyseminars.com to see our 2002 schedule.

Register on-line at http://www.energyseminars.com or call Registrar Gina
Patrick

Phone: 281-362-7979
FAX: 281-296-9922
-------------------------------------------------------------
TXU Proposes Settlement for Overcharges

    TXU Electric has filed a plan with the Texas PUC to settle charges
that it erroneously collected stranded payment costs before the state
opens its power market next week. The costs are aimed at offsetting
expenses for building generating plants and related regulatory financing
plans prior to deregulation. As natural gas prices soared a year ago, the
PUC alleged that TXU and other Texas utilities had no stranded costs
related to generating assets because of the large amount of natural gas
fired generation in the state. Climbing prices made natural gas fired
plants almost as costly to operate as nuclear plants. If the settlement is
approved by the PUC, TXU will return $350 million to retail electric
suppliers over 2 years by providing credits on transmission and
distribution rates. TXU said it may take a charge of less than $50 million
in the 4th quarter because of the settlement. TXU also said it would
eliminate any remaining stranded costs related to its Comanche Peak
nuclear station. TXU also proposes that the PUC authorize it to issue $500
million in bonds in early 2002 and $800 million after 2003 related to the
utility's regulatory assets or previous financing agreements approved by
the PUC. The settlement also cuts a possible penalty to $90 per customer
from $150 in the event TXUs retail affiliate retains more than 60% of its
customers after the first 2 years of competition.
-------------------------------------------------------------
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--------------------------------------------------------------
Baker Hughes Weekly Rig Count

      The number of rigs searching for oil and natural gas in the US rose
by 5 to 887 last week compared to 1,114 a year ago, according to Baker
Hughes. The number of rigs exploring  in Canada was down 94 to 198,
compared to 322 last year. The number of rigs in the Gulf of Mexico gained
11 to 119 compared to 145 a year ago. The number of rigs searching on land
was 743, and the number of offshore rigs was at 125. There were 19 inland
rigs. The total North American rig count lost 89 to 1,085, compared to
1,436 a year ago. The number searching for oil fell by 3 to 137, while the
number searching for natural gas gained 7 to 748. There were two
miscellaneous rigs, up one from the prior week.
-------------------------------------------------------------
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-------------------------------------------------------------
PHYSICAL POWER PRICES
|            | High  |  Low  | Average |
|            | $/MWh | $/MWh |  $/MWh  |
| Cinergy    | 21.00 | 18.00 |  18.80  |
| ECAR       | 22.50 | 18.00 |  20.31  |
| ERCOT      | 22.00 | 21.75 |  21.90  |
| Entergy    | 23.00 | 20.50 |  21.65  |
| TVA        | 22.70 | 22.60 |  22.65  |
| ComEd      | 18.50 | 17.25 |  17.90  |
| Nepool     | 32.50 | 31.50 |  32.05  |
| PJM West   | 24.50 | 23.50 |  23.90  |
| Main       | 20.00 | 17.25 |  18.45  |
| MAPP       | 21.50 | 20.00 |  20.75  |
| Palo Verde | 29.25 | 26.50 |  27.25  |
| Mid C      | 26.25 | 23.50 |  25.30  |
| COB        | 27.00 | 26.00 |  26.65  |
| 4 Corners  | 27.50 | 27.00 |  27.25  |
| Mead       | 30.00 | 27.00 |  27.85  |
| NP 15      | 29.75 | 26.75 |  28.30  |
| SP 15      | 30.75 | 26.75 |  28.55  |
-------------------------------------------------------------
Energy Releases
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-------------------------------------------------------------
Todays Gas Bulletins
 * Williams Names Douglas Whisenant President and CEO of Interstate
Natural Gas Pipeline Division
 * Robert Sluder Named Senior Vice President and General Manager Natural
Gas Pipelines in Western US
 * Report Says 2001 Worst Year Since 1974 for US Stock Funds
 * Bush Says He's Deeply Concerned About Enron Collapse
 * Genesis Suspends 4th Quarter Unitholder Distribution
 * Pacific Northwest Industrial Customers Ask FERC to Scrutinize Northwest
Natural Gas' Acquisition of Portland General Electric; Charges Proposal
May Reduce Competition in Natural Gas Transportation and Power Markets
 * Enron Employees Stuck with $400 Million in Deferred Compensation
-------------------------------------------------------------
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-------------------------------------------------------------
Exelon Power Team to Double its Wind Capacity

    Exelon Power Team will purchase the output of a 65 MW wind facility in
Tucker County, WV for 20 years from Backbone Mountain Windpower. The
project will include about 42 wind turbines, each producing about 1.5 MW.
The 65 MW facility will utilize the latest wind turbine technology and
will be the largest commercial wind energy facility in the eastern US. The
project is expected to be operational by December 2002. It will
interconnect with the Allegheny Power System in the PJM West RTO and will
be integrated with the PJM RTO. Earlier this year, Power Team signed
20-year purchase agreements for 9 MW from the Somerset Wind Power Project,
15 MW from the Mill Run Wind Project and 52 MW from the Moosic Mountain
Wind Farm near Scranton. This agreement brings Power Team's wind portfolio
to 144 MW. The Backbone Mountain Wind Project will add to the amount of
clean energy available to customers in the PJM territory. Community Energy
and Power Team are jointly marketing the output of wind projects. Large
commercial customers, such as the University of Pennsylvania, Carnegie
Mellon University, Penn State University, Philadelphia Suburban Water
Company and Giant Eagle Foods, have already purchased wind energy from
Power Team and Community Energy for periods from 15 years. Power Team's
current renewable supply portfolio includes wind, landfill gas,
hydroelectric, and biomass generation.
-------------------------------------------------------------
ENERGY JOB LISTINGS
Whether you are actively looking for a job, or want to explore
opportunities in the energy industry, go to http://www.energyjobs.com. At
Energyjobs.com, your job hunting is made easy, convenient and
confidential. Conduct your own search or participate in our Job Match
feature, which accurately matches  your qualifications, experience and
requirements to any new job that appears, and then sends you an e-mail
notification! Best of all, membership > is FREE. To register and become a
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-------------------------------------------------------------
FERC Order Sets Direction in Midwest

   The FERC December 19th decision that the Midwest ISO be the vehicle for
a single, regional transmission organization in the Midwest is an
important decision.  It will spark the development of a competitive
regional power market in the Midwest, of particular importance to
energy-intensive Midwestern states, according to a customer coalition
active in the federal arena. The Coalition of Midwest Transmission
Customers and the Industrial Energy Users-Ohio, stated that FERC's
decision paves the way for actual implementation of plans to get a truly
independent entity for the Midwest transmission grid, that encompasses
twenty states and Manitoba, Canada, up and running. The coordination so
critical to system reliability and Ohio's business and industry can now
proceed on a timeline that should allow the Midwest to avoid a repetition
of problems we saw a couple of summers ago.  Because the Midwest economy
is so energy-intensive, the Coalition hopes to see the ISO continue with
development at a challenging pace since an effective regional marketplace
will benefit not only residential users but also Midwestern businesses in
their efforts to thrive in the worldwide marketplace. The FERC Order also
found that creation of the Alliance RTO does not satisfy scope and
configuration requirements spelled out in FERC's Order 2000. The
Commission made plain that the Alliance companies could continue with the
formation of the for-profit Transco, but under the Midwest ISO umbrella.
The significance of this, is that the FERC is focusing on the importance
of a single organization as opposed to its form. From the perspective of
market participants, both buyers and sellers, this and other recent FERC
decisions are strong indications that a highly coordinated and competitive
marketplace is the goal for the industry. FERC's November 20th orders
preventing several utilities from using their market-pricing authority in
areas where they have market power is as critical to nurturing an
effective market as the order for a single Midwest RTO.
-------------------------------------------------------------
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-------------------------------------------------------------
POWER FUTURES
| Month |   COB   | Change |   PV    | Change |
| FEB   |  24.75  | +0.00  |  24.75  | +0.00  |
| MAR   |  22.00  | +0.00  |  22.00  | +0.00  |
| APR   |  21.25  | +0.00  |  21.25  | +0.00  |
| MAY   |  23.20  | +0.00  |  23.30  | +0.00  |
| JUN   |  22.00  | +0.00  |  22.00  | +0.00  |
| JUL   |  34.75  | +0.00  |  34.75  | +0.00  |
| AUG   |  44.00  | +0.00  |  44.00  | +0.00  |
| SEP   |  39.75  | +0.00  |  39.75  | +0.00  |
| OCT   |  30.75  | +0.00  |  30.75  | +0.00  |
| NOV   |  33.00  | +0.00  |  30.00  | +0.00  |
| DEC   |  35.00  | +0.00  |  30.00  | +0.00  |
| JAN   |  33.00  | +0.00  |  30.75  | +0.00  |
| Month | Entergy | Change | Cinergy | Change |
| FEB   |  25.00  | +0.00  |  25.40  | +0.00  |
| MAR   |  23.00  | +0.00  |  25.00  | +0.00  |
| APR   |  23.00  | +0.00  |  25.00  | +0.00  |
| MAY   |  26.00  | +0.00  |  28.00  | +0.00  |
| JUN   |  33.75  | +0.00  |  27.25  | +0.00  |
| JUL   |  44.10  | +0.00  |  49.00  | +0.00  |
| AUG   |  44.10  | +0.00  |  49.00  | +0.00  |
| SEP   |  24.50  | +0.00  |  25.75  | +0.00  |
| OCT   |  24.00  | +0.00  |  25.00  | +0.00  |
| NOV   |  24.00  | +0.00  |  25.00  | +0.00  |
| DEC   |  24.00  | +0.00  |  25.00  | +0.00  |
| JAN   |  27.00  | +0.00  |  28.25  | +0.00  |
-------------------------------------------------------------
Power Futures
| Month |  PJM  | Change |
| FEB   | 30.00 | +0.00  |
| MAR   | 28.00 | +0.00  |
| APR   | 28.00 | +0.00  |
| MAY   | 31.50 | +0.00  |
| JUN   | 41.50 | +0.00  |
| JUL   | 55.60 | +0.00  |
| AUG   | 55.60 | +0.00  |
| SEP   | 28.00 | +0.00  |
| OCT   | 26.75 | +0.00  |
| NOV   | 26.75 | +0.00  |
| DEC   | 26.75 | +0.00  |
| JAN   | 32.00 | +0.00  |
-------------------------------------------------------------
Commodity Futures Trading Commission

NYMEX Natural Gas Futures
Reportable Positions as of  12/21/01

Open Interest: 422,398                                  10,000 MMBtu

                                                       Nonreportable
Non-Commercial         |   Commercial |     Total    | Positions
Long | Short| Spreading| Long | Short | Long | Short | Long  | Short
9,591 36,465   29,975  353,831 342,373 393,397 398,913 29,001  23,485

Changes from 12/14/01                Change in Open Interest: -11,137
2,924 -2,009    2,324  -12,711  -5,760  -7,463  -5,445 -3,674  -5,692

Percent of Open Interest for Each Category of Traders
  2.3    8.6      7.1     83.8    78.7   93.1     94.4     6.9    5.6

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

                Progas Storage Services, Inc

Was recently organized to offer specialized natural gas storage services
to marketers and end users servicing the upper Midwest and Northeast
market regions along the major transmission systems in Indiana, Illinois,
Kentucky, and Michigan. PGSMI has 10 bcf of potential working capacity
which will offer service along TXG, ANR, Midwestern, and is currently
evaluating for purchase another 21 bcf of potential working capacity which
can be serviced by these and other systems in the region. PGSMI also
explores for natural gas in the Gulf Coast region through a wholly owned
subsidiary. Progas intends to go public through a route of private
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services or the company mail to: gastorage@aol.com or for AOL mail to
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Ph 915 698 3699
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-------------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 added 24.39 points to 7674.97
The CRB Index lost 0.16 points to 191.91
The US Dollar dropped 0.23 points to 117.26
The Dow advanced 5.68 points to 10136.99
The S&P 500 climbed 3.89 points to 1161.02
The Nasdaq was up 10.84 points to 1987.26
February NYMEX Crude Oil fell 0.49 to 20.41
Canadian-US Exchange rose 0.0021 to 1.5956
-------------------------------------------------------------
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-------------------------------------------------------------
Washington DC
January 24, 2002
Spencer Abraham U.S. Secretary of Energy to address energy community on
potential security and commerce threats. Also to speak will be key
directors
from the CIA, SPR, IEA, SPR and more. See complete
detail and register today at
http://www.wesc.org
-------------------------------------------------------------
Please welcome our advertisers by visiting these websites.
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http://www.energyseminars.com
http://www.energyjobs.com

enerfaxtext, forward to delete@enerfax.com to unsubscribe.


Richard --

I was wondering if Enron had any formal policies on the release of
information?  This is promoted by a call we had from Rep. Waxman's office.
The Rep would like a copy of the 4 page handout that Lay gave to key
California Republican leaders in a "private" meeting in Beverly Hills
reported in the LA Times recently.

I think that we are going to give this information to Rep. Waxman's office,
but we probably want a formal policy (ie, written) that would allow our
legislative professionals in DC and elsewhere to say that some info is public
and can be provided and other info will not be released.

Appreciate your help.

Jim


BUSINESS HIGHLIGHTS

East Power Midwest Origination
Beginning late 2000, East Power Marketing implemented a complete market
coverage strategy.  Since then, EPMI has begun to develop relationships with
hundreds of small &mom & pop8 municipalities.  Many of these munis had no
prior contact with Enron.  As a result, East Power has executed a valuable 30
MW energy call option term purchase from the Municipal Energy Agency of
Nebraska (MEAN) at a congested location.

Enron Industrial Markets
EIM has renamed Pulp, Paper & Lumber to Forest Products in order to fully
encompass our multiple product offerings.

East Power Development
The Planning and Zoning Commission for Pompano Beach, FL approved ENA's
rezoning request and site plan for the Pompano Beach Energy Center, a 510
megawatt peaking power plant.  On the rezoning request, the vote was 6 to 1,
and on the site plan, the vote was 7 to 0.  The rezoning request will be
forwarded to the Pompano Beach City Commission for their review.
Additionally, the Florida Department of Environmental Protection (DEP) has
announced its intention to issue an air permit for the facility.

Next steps include a DEP public hearing on Monday, March 26, and the first of
two votes on the rezoning request before the Pompano Beach City Commission,
which is scheduled for Tuesday, March 27.

IN THE NEWS

EWS Brown Bag Lunch
Mark Your Lunch Calendars Now!  The next one is scheduled for Thursday, March
15, 2001 featuring Ray Bowen. He is the COO of EIM and will be discussing
Enron Industrial Markets.

Open Forum Editorial in The San Francisco Chronicle  by Kenneth Lay    3/1/01
What has happened in California over the past four years is not
deregulation.  It is misguided regulation.

Deregulation does not mean eliminating customer choice and competition for
most customers.
Deregulation does not mean limiting new market entrants.  Fewer than five
percent of customers in California are served by competing suppliers.

Deregulation does not mean creating a single central power pool from which
all participants must buy and sell their wholesale power; the state Power
Exchange effectively replaced three monopoly buyers with one monopoly buyer.

Deregulation does not mean buying all of your commodity at the last minute,
on the spot market, rather than planning ahead and purchasing most of the
power under long-term contracts that lock in prices.

The situation in California is the result of continued regulation,
complicated by a series of natural and man-made factors.

WELCOME
New Hires
EGM  - Lowell Bezanis, Owen Zidar
EIM   - Eric Holzer, John Ovanessian
ENA  - Mecole Brown, Nita Garcia, Ambroshia Hunter, Nikole Jackson, Junichi
Sugiura, Theresa Zucha, Cynthia Gonzalez, Scott Wilson, Kenton Schaefer,
Emily Butler

Transfers
ENA - Joseph Hardy, Nancy Vu, Lloyd Miller, Jinsung Myung, Patrick Johnson,
Jason Wolfe, Andrew Miles, Sara Shackleton
EIM  - Sherri Baldwin, Debbie Chance, Rob Saltiel
EGM - Jody Crook, Neithard Foley, Juan Paysse, Bhavna Pandya, Courtney
Campbell, Terri Denning

NUGGETS & NOTES

"It is on the high side of medium to high." --Tim Battaglia, Vice
President/Steel Origination EIM (discussing the probability of a transaction
closing).

&I wanna see the phone glued to your ear!8 -- Ed Baughman, Vice
President/East Power Mid Market ENA

&REFERRALS, REFERRALS, REFERRALS!  It pays to know good people." ) Ambroshia
Hunter Perry/HR ENA

You requested more info(. Proud parents Michelle Vitrella, PR coordinator,
and husband David Vitrella, manager of trading, have named their baby girl
Lily Ann. She was born on February 27, 2001.

Learning at the Speed of Enron
If you haven't had a chance to log on to www.investinme.enron.com, you're
missing a fast and easy way to gain the information you need to get ahead and
stay ahead. This new EWS training site combines everything you loved about
Ernie with much, much more.  Enron employees now have the ability to register
for hundreds of classes on industry-related topics anywhere in the world.
Don't have time to attend a classroom training? No problem, you can now use
the web site to search for books, videos, CD ROM, and web-based training. All
the learning you want, anytime, anywhere.  Just go to
www.investinme.enron.com and start building your future today!

NEWS FROM THE GLOBAL FLASH

Enron Wind
Enron Wind has purchased the factory facilities of the Dutch company, Aerpac,
Europe's second largest producer of wind turbine rotor blades.  This move
represents a significant step towards fulfilling Enron Wind's strategic
objective of manufacturing high-quality and technically sophisticated rotor
blades in-house.  Enron Wind will be using its own moulds to produce the
rotor blades.  The acquisition of the Almelo-based factory facilities, which
are only 60 kilometres from Enron Wind's facilities in Salzbergen, Germany,
gives the company a convenient base for European wide distribution.

Enron applies for Greek electricity trading license
Enron, through its subsidiary Enron Power MEPE, has applied for an
electricity supply license for Greece, for the 34% market opening on Feb 19th
2001.  If the license application is successful, Enron will be allowed to
approach customers consuming more than 100GWh up to a combined total peak
capacity of 350MW.  In total, 4 companies have applied for power trading
licenses (Enel, ATEL and Cinergy also applied).

LEGAL STUFF
The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries.  It is intended for internal use only
and should not be disclosed.


After our meeting, I also agreed to provide suggested language for hedge
funds.  It is attached.


Sara and Mark:

Please look over the attached product description and one of the index
descriptions and let me know if you have any comments.

I suggest revising the Financial Power Swap Product as follows:

A US Power financial Swap Transaction with Enron North America Corp., under
which the Seller
pays a Floating Price and the Buyer pays the price submitted by Counterparty
on the website
(the Fixed Price) in each case in respect of the Notional Quantity per
Determination Period.  Each
calendar month during the term of the Transaction or the term of the
Transaction if it is less than a month will be a Determination Period. The
Notional
Quantity per Determination Period shall be the volume for the relevant
Determination Period
(calculated using the volume submitted by Counterparty via EnronOnline). The
Payment Date(s)
will be 5 business days after the Floating Price is determinable. The
Floating Price shall be the
average of the Index for each day in the relevant Determination Period.

Leslie


today?   I have felt better.  I'm really glad that Teresa's birthday is over.  I think that we have been celebrating since Friday but of course you know that.  I apologize for any strange behavior last night that I might have exhitbited.  (ie...having you make food for me at a very late hour, singing and whatever else)   Just wanted to check on you and make sure that you aren't sleeping at your desk.  Afterall, you only have to say "buy" or "sell" all day.  How difficult could that be?

Kim


Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 06/01/2001 11:15 AM -----

	Cheryl Nelson@ENRON
	Sent by: Cheryl Nelson@ENRON
	05/31/2001 05:16 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: RE: Assignment & Assumption Agreement

Sara, as per your request, here is one of the paper trails regarding my
repeated request to folks at Bear for the guaranty.  The most recent request
is from today but previous requests are attached.  There were two others but
I may have erased them.  I will doublecheck and forward them since you'd like
copies.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693
http://gss.enron.com/
----- Forwarded by Cheryl Nelson/NA/Enron on 05/31/2001 05:14 PM -----

	"Meytina, Anna Confidential Memo-Counsel (Exchange)" <ameytina@bear.com>
	05/31/2001 04:37 PM

		 To: "'Cheryl.Nelson@enron.com'" <Cheryl.Nelson@enron.com>
		 cc:
		 Subject: RE: Assignment & Assumption Agreement

Apologies!  I will call you tomorrow to discuss.

Regards,

Anna

> -----Original Message-----
> From:   Cheryl.Nelson@enron.com [SMTP:Cheryl.Nelson@enron.com]
> Sent:   Thursday, May 31, 2001 5:04 PM
> To:   ameytina@bear.com
> Subject:   RE: Assignment & Assumption Agreement
>
> Hi Anna, I still have not heard back from you about getting the guaranty
> back.  Remember that we have also talked about this over the phone but I
> do
> not believe that you ever sent the document back.
>
> Cheryl Nelson
> Senior Counsel
> EB3816
> (713) 345-4693
> http://gss.enron.com/
> ----- Forwarded by Cheryl Nelson/NA/Enron on 05/31/2001 04:02 PM -----
>
>
>                     Cheryl Nelson
>
>                     Sent by:             To:     "Meytina, Anna
> Confidential Memo-Counsel
>                     Cheryl Nelson        (Exchange)" <ameytina@bear.com>
>
>                                          cc:
>
>                                          Subject:     RE: Assignment &
> Assumption
>                     05/21/2001           Agreement(Document link: Cheryl
> Nelson)
>                     10:11 AM
>
>
>
>
>
>
>
>
> Anna, I hope you had a good vacation.  As per our previous conversations,
> I
> still need the original Guaranty from you - i.e., the one we did not use.
>
> Cheryl Nelson
> Senior Counsel
> EB3816
> (713) 345-4693
> http://gss.enron.com/
>
>
>
>
>                     "Meytina,
>
>                     Anna                 To:
> "'Cheryl.Nelson@enron.com'"
>                     Confidential         <Cheryl.Nelson@enron.com>
>
>                     Memo-Counsel         cc:
>
>                     (Exchange)"          Subject:     RE: Assignment &
> Assumption
>                     <ameytina@bea        Agreement
>
>                     r.com>
>
>
>
>                     04/03/2001
>
>                     12:35 PM
>
>
>
>
>
>
>
>
> yes, i did. see you in NY.
>
> > -----Original Message-----
> > From:         Cheryl.Nelson@enron.com [SMTP:Cheryl.Nelson@enron.com]
> > Sent:         Tuesday, April 03, 2001 1:03 PM
> > To:           Meytina, Anna Confidential Memo-Counsel (Exchange)
> > Subject:           Re: Assignment & Assumption Agreement
> >
> >
> > Hello Anna,
> >
> > Cheryl Lewis says that I should send the guaranty to you, not to her.  I
> > will send the original overnight to you but you got the faxed copy
> right?
> >
> > When I am in New York, I will call you to take you to lunch.
> >
> > Cheryl Nelson
> > Senior Counsel
> > EB3816
> > (713) 345-4693
>
>
> ***********************************************************************
> Bear Stearns is not responsible for any recommendation, solicitation,
> offer or agreement or any information about any transaction, customer
> account or account activity contained in this communication.
> ***********************************************************************
>
>
>
>
>

#****************************************************************
Bear Stearns is not responsible for any recommendation, solicitation,
offer or agreement or any information about any transaction, customer
account or account activity contained in this communication.
***********************************************************************


This look ok?  It will be presented to Dave Duran to execute Monday am unless
you suggest otherwise.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 05/18/2001 05:42
PM ---------------------------

"Pedigo, Doug" <DPedigo@INTERGEN.com> on 05/18/2001 01:39:24 PM
To: "'Kay.Mann@enron.com'" <Kay.Mann@enron.com>
cc:

Subject: RE: CA re energy management services

Thanks.? I have changed the party to the parent of the two entities in
question and put the project particulars in the introductory paragraph.?
Otherwise, all of your changes were fine.? You can go ahead and have the
agreement executed and fax or send over.

?

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Friday, May 18, 2001 1:32 PM
To: Pedigo, Doug
Subject: CA re energy management services

Doug,

Here's the revised CA.? I highlighted the changed terms.? In addition, I
deleted the prior paragraph 11 which said that the agreement supercedes a
prior CA.

I don't know if the InterGen indentity and signatory are the same,? but
obviously I left that for you to determine.? I expect that the Enron entity
which will bid will be EPMI, so I used that entity.

(See attached file: InterGen North America CA may 18.doc)

I beefed up the definition of confidential information due to the
complexity of the issues, and I added 6 months to? the term since things
won't get cranked up for a while.

I look forward to talking to you at your convenience.? Have a good weekend.

Kay

?
 - InterGen North America CA may 18.doc


Dear Zooey Wharton,

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

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(total 18 prints; $8.82)

Subtotal:               $8.82
Shipping & Handling:    $1.99
Sales Tax:              $0.00
-------------------- --------
Total for the order:   $10.81 was charged to your
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-----------------------------------------------------------

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provide is the picture (including logos, kid's artwork,
images from your scanner, or photos) and we'll provide the
technology to make your gift idea a reality.

There are plenty of items that can be personalized for a
birthday, holidays, or just to say "I love you."  We're
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gift there on time.  To ensure your privacy over the
Internet we always use secure commerce.

All of us at ImageStation sincerely appreciate your
business.  Please visit us again soon at
http://www.imagestation.com/


Mark:

Do you want to handle or would you prefer that I meet with Kal.

Leslie
----- Forwarded by Leslie Hansen/HOU/ECT on 06/26/2000 03:21 PM -----

	Kal Shah
	06/26/2000 02:10 PM

		 To: Leslie Hansen/HOU/ECT@ECT
		 cc:
		 Subject: marketing materials

Leslie -- I am also working on a new brochure and direct mail piece for the
phase II launch.  Should I meet with you for review and approval or make an
appointment with Mark Taylor?  Let me know when you get a chance.

Kal Shah
x 39354


Ok, but please expedite. Also, you should be aware that Todd has informed me of his need to pursue going on short-term disability.  We are looking at internal candidates to serve as the CFO for the interim period as we seek to seel Enron Wind.  You will of cource have input into the decision.  My first interview is Monday with a Mike Miller who is in corporate development.  I will keep you informed.

 -----Original Message-----
From: 	Umanoff, Adam
Sent:	Wednesday, November 21, 2001 12:28 PM
To:	Horton, Stanley
Subject:	RE: SAFETY VIOLATIONS, DISCRIMINATION AT ENRON WIND -- SUPER CONFIDENTIAL

Stan - we have commenced an investigation of Toman's concerns. At this stage, I do not know whether he is a disgruntled employee blowing off steam or whether these are serious concerns (or maybe a little of both).  I will let you know what we learn.  For now, I do not think you need to send out an audit team - let us find out whether there is any substance here.  Adam

From:	Stanley Horton/ENRON@enronXgate on 11/21/2001 12:03 PM CST
To:	Adam Umanoff/EWC/Enron@ENRON
cc:

Subject:	RE: SAFETY VIOLATIONS, DISCRIMINATION AT ENRON WIND -- SUPER CONFIDENTIAL

What is going on here?  I think I need to send out my operational assessment team to do an audit.  Please advise immediately.

 -----Original Message-----
From: 	Umanoff, Adam
Sent:	Wednesday, November 21, 2001 9:31 AM
To:	Newell, Eric; Orban, Darrell
Cc:	Horton, Stanley
Subject:	SAFETY VIOLATIONS, DISCRIMINATION AT ENRON WIND -- SUPER CONFIDENTIAL

Eric and Darrell - Please investigate these complaints.  Joseph (who I do not know) is raising discrimination concerns as well as safety concerns.   Darrell - also send a written message to Joseph letting him know that his concerns have been brought to your attention and that we will take appropriate action to investigate.  Eric - you may want to drop Jim Derrick a note (since Key Lay was copied on this) and give him a heads-up.  Thanks. Adam
---------------------- Forwarded by Adam Umanoff/EWC/Enron on 11/21/2001 07:35 AM ---------------------------

 << OLE Object: Picture (Device Independent Bitmap) >>
Joseph Toman
11/21/2001 07:24 AM
To:	Kenneth Lay/Enron@EnronXGate, Adam Umanoff/EWC/Enron@ENRON
cc:

Subject:	SAFETY VIOLATIONS, DISCRIMINATION AT ENRON WIND -- SUPER CONFIDENTIAL

Please review these files -- to help correct the situation. JT

 << File: Brief List of Problems and Solutions for Enron Wind 10-7-01.doc >>  << File: Enron -- list of problems.doc >>  << File: Enron -- This Should Improve.doc >>  << File: Enron 11-18-01.doc >>  << File: Enron 750 kW Generator Report.doc >>  << File: Enron Wind Quick Observations 1.doc >>  << File: Inverter Protection Options.xls >>  << File: Mill Run Trip Problems.doc >>  << File: Pad-Mount CB Installation.doc >>  << File: Poor Electrical Engineering Outline Reduced.doc >>  << File: Poor Electrical Engineering Outline.doc >>


Ok, I forgot to attach the file!!   Here it is.

 -----Original Message-----
From: 	Cabrera, Reyna
Sent:	Thursday, October 18, 2001 11:06 AM
To:	Adams, Jean; Benningfield, Robert; Berger, Larry; Blair, Jean; Blair, Lynn; Bodnar, Michael; Bryan, Randy; Buchanan, John; Cabrera, Reyna; Callans, Nancy; Carr, James; Dasilva, Esther; Davis, Larry; Dykes, Tangie; Floyd, Jodie; Forbish, Sherry; Greaney, Chris; Janzen, Randy; Kowalke, Terry; Linhart, Joe; McDaniel, Janet; McEvoy, Christine; Miller, Kent; Minter, Tracy; Neville, Sue; Perry, Renee; Porter, Diana; Roobaert, Preston; Scurlock, Debra; Sturr, Kathy; Swett, Larry; Threet, Kay; Walden, Shirley; Washington, Kathy; Wilkens, Jerry; Woodson, Harry; Zadow, Raetta
Cc:	Valley, Lisa; Brostad, Karen; Steele, Patricia; Carter, Zuela
Subject:	Packets ending October 2001

Hi everyone,
Attached is the list of all packets ending October 2001.  There are several shippers that are getting cut for today's gas day, which makes their cumulative balance be off the target volume month to date.  The following are the shippers who are off target as of the 18th of October:

Duke
ENA
MidAmerica
NSP Power Pack  (the Power Pack ends in October and should have a zero balance at month end, any residual balance will be transferred to Park and Ride)
Tenaska
Transcanada
Virginia Power

Thank you for working with your shippers in getting their packets to balance.

Reyna Cabrera
(713) 853-3072


Here are the purchases we made for next week.  Let me know if you need anything else.

Thanks,
Holden


Steve:

I have forwarded my comments on the Pompano agreement to Kay, and plan to
follow up with her tomorrow. A commercial point that no one has raised with
me is the escalation on the $650k payment. I am not in favor of this. Where
did this come from? Please advise.

Thanks,

Ben

 -----Original Message-----
From:  MedleyB@gtlaw.com@ENRON
[mailto:IMCEANOTES-MedleyB+40gtlaw+2Ecom+40ENRON@ENRON.com]
Sent: Wednesday, May 30, 2001 3:58 PM
To: Jacoby, Ben; Krimsky, Steven; Mann, Kay
Subject: Attached Files

Attached is the draft Developers Agreement for Pompano and Deerfield along
with a draft letter to Larry Deetjen.  I am in the process of redlining the
Zisman draft against the newest version which I will forward momentarily.

_______________________________________________________________
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,
dissemination, distribution or duplication of this
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.
 <<ENRON-DEERFIELD AGREEMENT.DOC>>   <<DBEC-Letter to Larry R. Deetjen.DOC>>
 <<EnronPompano Developers Agreement.DOC>>

 - ENRON-DEERFIELD AGREEMENT.DOC
 - DBEC-Letter to Larry R. Deetjen.DOC
 - EnronPompano Developers Agreement.DOC


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---------------------- Forwarded by John Arnold/HOU/ECT on 10/25/2000 11:34
AM ---------------------------

Lauren Urquhart
10/25/2000 11:23 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Your Brother

John

I am the assistant to John Sherriff.

John mentioned to me yesterday that your brother was going to contact us via
e-mail.

We have not receieved or heard anything.

Communication is required here.

Please have your brother call me on 0207-783 7359 or e-mail me at the above
address on John on john.sherriff@enron.com.

Thank you!

Lauren


Sara,
Sorry, I was too assiduous in deleting what I thought would be duplicated on
this thread, so I'm working from memory on comments before Guenther's last
contribution.

Data for pricing is owned by Enron Credit Ltd (generated by employees of
Enron Power Operations Ltd whose costs are charged to ECL)
Information deals are done with ECL (Derivative transactions are currently
with Enron North America Corp, probably with Enron Credit Inc in the future)
The Enron staff who would be looking at this are employed by Enron North
America Corp which is why I suggested ENAC as the named party.
They clearly act for ECL on information deals.
If it's OK to use ECL then that would be easier for us.

I have no objections to suggestions that I should be promoted! In the
meantime, I am a board director of ECL and have both legal and group
management authority to sign contracts (with a lawyer's initials being a
prerequisite).

Regards,
Richard

From: Sara Shackleton on 16/02/2001 08:44 CST
To: Guenther Klar/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT
cc: Janine Juggins/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT

Subject: Re: Confidentiality Agreement with Scana

Guenther:

Thanks for the response.  I'll wait to hear from Richard Sage as to who owns
the information.
Only officers at the VP level or higher may execute binding contracts for all
Enron U.S. companies (bylaws).  I do not know the "rule" for non-U.S.
companies (although I suspect the articles of association would contain that
information).

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com

	Guenther Klar
	02/16/2001 08:24 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Janine Juggins/LON/ECT@ECT, Richard Sage/LON/ECT@ECT, Denis
O'Connell/LON/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 Subject: Re: Confidentiality Agreement with Scana

Sara

You are right about the tax issue - in fact, we are in the process of
replacing the UK directors and officers of Enron Credit Inc with US directors
and officers.

The entity that signs up to the confidentiality agreement ought to be the one
that owns the information to be supplied.  Based on conversations I have had
with Richard Sage, I had formed the impression that the owner of the
information was Enron Credit Ltd.  If this is right, we should pursue your
first suggestion.  Otherwise, given that the tax issue is being rectified and
this should therefore be an isolated incident, I think we can wear the tax
risk inherent in your second suggestion.  Though I do wonder whether an
officer of Enron Credit Inc, such as Richard Sage (currently), could sign,
rather than a director?

Kind regards

Guenther Klar


Start Date: 4/25/01; HourAhead hour: 16;  HourAhead schedule download failed.
Manual intervention required.


Stephanie:  please note below.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 04/13/2001 10:41 AM -----

	Sara Shackleton
	04/12/2001 01:04 PM

		 To: Cheryl Nelson/NA/Enron
		 cc: Mark Taylor/HOU/ECT@ECT
		 Subject: corporate resolutions and unanimous consents

Cheryl:

All resolutions and consents for Enron companies subject to oversight by our
group must be approved by Mark Taylor.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


means the &Daily Midpoint8 price set forth in Gas Dailyc (Financial Times
Energy), or successor publication, in the column "Daily Price Survey" under
the listing applicable to the geographic location closest in proximity to the
Delivery Point(s) for the relevant gas day.  If there is no single &Daily
Midpoint8 price published for that particular Gas Day, but there is published
a "Common" range of prices under the above column and listing, then the Spot
Price shall be the average of such &Common8 high and low prices.  In the
event that no +Daily Midpoint8 price or &Common8 range of prices is published
for that particular Gas Day, then the Spot Price shall be the average of the
following: the price (determined as stated above) for each of the first Gas
Day immediately preceding and following the Gas Day in which the default
occurred for which a Spot Price can be determined.


Please accept my apologies for this worksheet's absence yesterday. It was
undergoing cosmetic improvements to more accurately represent the EES-EPMI
position. Note two new column headings as of 3/27 - "Transmission" and "Other
EnPower" deals. Also, a change has been made to the SP-15 volumes in the 3/2
sheet. This change was made per Daniel Kang at EES and Chris Foster at EPMI.
And as always, feel free to contact me with questions.

Thanks,
Kate Symes
Trading Support
503-464-7486


Please refer to the attached worksheet when charging/coding 3rd party fees &
travel expense to Project Crane.  Please use the WBS element that corresponds
to your group.  If your group is not represented in the structure, please
call me at 3-6354 so that I can add it.

If your group has incurred any 3rd party fees/travel expense this year which
was coded to your cost center, please let me know so that we can move those
charges to this project #.

Thanks,
Rainier


Steve - I put together the following draft slide for next week's analyst conference regarding RTO's.  Could you take a minute to review and let me know if you have any comments/concerns.

I can be reached at x34785 or via e-mail.

Thanks.

David T. Leboe
Director, Investor Relations
Enron Corp.

Office  713.853.4785
Cell  713.562.2160
Fax   713.646.3002
Pager  877.237.7732
david.leboe@enron.com

<Embedded >


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

From:  <tigerd@alltel.net>
To: HILL8314@aol.com
Date: Monday, October 29, 2001 7:26:32 GMT
Subject:

> Tell the devil today,he is a liar! - He will not take your joy,your peace
or
> disturb your spirit.
> Tell him he cannot sleep in your bed-there's not enough cover.
> Tell him he cannot sit in your chair - You will not give him a cushion of
> comfort.
> Tell him he can't touch your body-it's covered with the blood of Jesus!
> Tell him he cannot audit your finances-you've changed accountants!
> Tell him he cannot enter your home-the locks have been changed.
> Tell him to leave your workplace-he's not on the list of things to do
today.
> Tell him to take his hands off your children-because you've had hands laid
> on them.
> Tell him you have no time for nonsense, criticism,orfears-you are on a
> mission, and you walk by faith.
> Tell him no more tears. Heartaches or headaches-because there's another,
He
> that restores your soul.
> Tell him! - Tell him! - Tell him! - Tell Him!!!!
> Tell him, today, you have a gentle, powerful innerpeace within, that
> consumes you and leaves no room for confusion.
> Tell him, today you will-respond soothingly to a crying child, a tense
> spouse, or an impatient friend.
> Tell him, today you will-find no fault with a relative, friend, or
> colleague.
> Tell him to leave your tongue alone-for today you will not talk of anyone,
> before placing God at the beginning of your thought.
> Tell him, God said, "My people will abide in apeaceful habitation, and in
a
> quiet resting place."
> (Isaiah 32:18)
> Today, Tell him he is a liar!!!! - "I have said this to you, so that you
may
> have peace. In the world you face persecution. But take courage; I have
> conquered the world!" (John 16:33)
> While you are making these statements of faith and fact, try reading the
> devil his rights just like the police do for anyone they arrest!
> 1. You have the right to remain silent
> 2. You have the right to a fair trial-to be given you by the saints of God
> right before we
> collectively kick you into the pit of hell forever.
> 3. You have the right to know that not only anything you say but anything
> you do CAN and WILL be
> held against you.
> You get the picture I'm sure. Now will you all excuse me while I do a bit
of
> shouting .
>
> God bless and REMEMBER WHO IS IN CONTROL OF YOUR LIFE!
>
>    "What the mouth won't say, sometimes the Spiritwill."
>
>    Give Satan an inch and he'll be a ruler.
>
>


The report named: West VaR <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=36&report_name=West+VaR&category_cd=2&category_name=WEST&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/29/2001>, published as of 11/29/2001 is now available for viewing on the website.


Thanks for the update on Grumbles. I'm heading south to Iola on Sunday to
visit with John. If anybody wants to join me, I'd enjoy the company. Let me
know.
Yahoo! Groups Sponsor
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[IMAGE]

 At Homecoming 2000, the BETA TENT had the biggest crowd by far.  Stay connected and consider a future homecoming BETA reunion.  It's incredible...forget the 20 years in between...everyone just seems to pick it up right where they left off years ago.

Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service .


about half a dozen crude swaps. I'll have to pull the file and get back to
you on the credit worksheet.  I thought i did something on this back when we
did the AAA derivative program (or am i thinking of the wrong customer?)

From: Sara Shackleton on 06/07/2000 12:37 PM
To: Jeff Nogid/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT
cc:
Subject: Credit Agricole

Just got off the phone with outside counsel for Credit Agricole.  We're very
close.
Tanya:  Can you tell me what products we trade? Are there many outstanding
transactions?  Also, I'd like to make sure that the "credit worksheet" is
current.  It looks like we're working off of something dated 1/31/96 (Terry
Donovan!!!!!).  This must be wrong.


-----Original Message-----
From: John Mcpherson [mailto:strawberry29@juno.com]
Sent: Wednesday, September 19, 2001 10:20 AM
To: persever@hotmail.com; sbrogdon@prodigy.net.mx; psalm139child@hotmail.com; Thepolk4@AOL.com; Tammygene@AOL.com; fishermen06@earthlink.net; jandshaggy@juno.com; Semperger, Cara; ladyrich@juno.com; sdeptula@sprintmail.com; lacastles@home.com
Subject: Fw: FW: I love this one...

: Fw: I love this one...

I hope this comes through ok.


I have not seen it so pls forward. FAX 713-646-2391

Janie Tholt will be heading to LA for meeting. You can meet her then.

By the way,  please include her on the distribution to West gas issues as well.

Many thanks!

Stephanie

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Monday, October 08, 2001 1:48 PM
To:	Tycholiz, Barry; Miller, Stephanie
Subject:	SoCalGas Move Away from "Windowing"

Just wanted to make sure that you have seen the announcement about the move, the meeting (on the 18th) they're having to explain and the brief description.  If not, let me know and I'll fax it to you.  And unless you have any objections, I'm seriously considering attending the meeting, since this has been one of the biggest problems we've had in the gas industry in California.  Let me know.

Best,
Jeff


The report named: GD - OPT P/L <http://trv.dev.corp.enron.com/linkFromExcel.asp?report_cd=12&report_name=GD+-+OPT+P/L&category_cd=5&category_name=FINANCIAL&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=05/22/2001>, published as of 05/22/2001 is now available for viewing on the website.


FYI.

 -----Original Message-----
From: 	Berryman, Kyle
Sent:	Thursday, November 15, 2001 9:42 AM
To:	Tawney, Mark
Subject:	'Business as usual' for weather derivatives  - Financial Times; Nov 15, 2001

GLOBAL INVESTING: 'Business as usual' for weather derivatives
Financial Times; Nov 15, 2001
By ALISON BEARD

When Enron, the energy trading company, became mired in controversy late last month, weather derivatives buyers were in danger of losing one of their top three market makers. But trading has not skipped a beat, according to industry sources.
"So far it's been business as usual," said Tom Stus, a trader at Axia Energy, which also sells risk protection to companies that depend on the weather, such as amusement park operators and ski resort owners.
"At one time Enron was a pretty significant player, but since they've been involved with these problems, they've probably slipped to the top 10 in terms of volume.
"We haven't seen them much in the over-the-counter market," he added. "But they're still online."
Dynegy, the company that plans to acquire Enron, also trades weather derivatives, as do a host of other commodity firms, insurers and some brokerages. Goldman Sachs, the Wall Street bank, and XL Capital, the Bermuda-based insurer, for example, recently entered the market, picking up Enron's slack, Mr Stus said.
"There's been no effect whatsoever," said Ravi Nathan, general manager at Aquila, another energy trader. "This market has a lot of capacity available."
Copyright: The Financial Times Limited 1995-1998

Kyle R. Berryman
Weather Risk Management
Enron Global Markets

Houston Tel 713-853-1704
Houston Fax 713-646-3220


That envelope should probably go to Rob Milnthorp.  I'll have a copy walked
down to John Lavorato here.  It is a list of all of our NYMEX positions, and
the list should be provided by Rob to any traders trading NYMEX out of
Canada.


Would it work if we picked you up in the USVI?  I know it's possible to fly
into St. Thomas either directly from New York or through San Juan and you
could take a ferry to St. John (still part o the USVI) where we could pick
you up.  It's a bit of a hassle since we have to clear the boat into the US
and then back to the BVI but I've done it a couple of times before.  The
timing might be difficult since we can't possibly get the boat to St. John
before the afternoon of the 22nd.  If you're nervous about sailing into the
BVI, we could stick around St. John for a few days.  You might check the
cruising guide & see what it says about the US side of things - places to
go/anchor, etc.


I am currently working on the issues effecting Terminal Server and Enpower.
I am  awaiting a call back from the Networking team.  Please bear with me
while I get this fixed.   I will keep you posted.

Thanks,
Diana


I think it's fuzzy enough that two good lawyers could give two different
views--wanted to ensure that all analytic bases are covered.  But I just
talked to Mike and he and I think, at least preliminarily, that the PUC could
do this absent legislation.  He's going to do the analysis.  Likely better to
let Mike go ahead and do the analysis and if we want to get other opinions,
we can make that decision at that time.

One last thought:  If the PUC could do it, that might be Davis' preference.
That way, he and his people are in charge.  But it may be difficult
(impossible) for the Legsilature to resist and Davis may not have the clout
to get them to back off.

	Steven J Kean
	10/13/2000 11:06 AM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: Re: Legal Analysis on AB 1890

What do you think he'll add?

	Jeff Dasovich
	Sent by: Jeff Dasovich
	10/13/2000 11:01 AM

		 To: skean@enron.com
		 cc:
		 Subject: Legal Analysis on AB 1890

I think it would be a good idea to have Ron Carroll in Watkiss' shop to do a
parallel analysis to what we're going to have Mike Day do.  Ron's very good
and has done much work on these sortrs of issues.  You comfortable with that?


Hari,

Thanks. Please, keep me posted about your progress.
Any published papers?

We shall send you the printout.

Vince

Hari Natrajan <hnatraj@IIMB.ERNET.IN> on 03/06/2001 08:47:34 PM
To: "'Vince.J.Kaminski@enron.com '" <Vince.J.Kaminski@enron.com>
cc:
Subject: RE:

Dear Mr. Kaminski,

Thank you very much for your prompt response. I look forward to receiving a
copy of your article.

I would also appreciate it if you could let me know whether Enron provides
research grants to individuals who are working in the area of Energy Risk
Management.  Towards my research, I am trying to develop a model to estimate
electricity spot price.

In any case, I will be getting in touch with you again a year or so down the
line when I am nearing completion of my dissertation because Enron is my
dream job.

I look forward to hearing from you.

Thank you,

Yours sincerely,

Hari Natarajan
Fellowship Student
Indian Institute of Management Bangalore
Bannerghatta Road
Bangalore 560076
India
Tel: 91-80-6993056
Fax: 91-80-6584050
E-mail: hnatraj@iimb.ernet.in

-----Original Message-----
From: Vince.J.Kaminski@enron.com
To: hnatraj@IIMB.ERNET.IN
Cc: Shirley.Crenshaw@enron.com; Vince.J.Kaminski@enron.com
Sent: 3/6/01 8:34 PM
Subject: Re:

Hari,

I shall send you a reprint of the  article. I had to
cancel my presentation at San Antonio.

Vince

Shirley,

Please, send a copy of the article to Hari.

Hari Natrajan <hnatraj@IIMB.ERNET.IN> on 02/28/2001 06:45:29 AM

To:   "'vince.j.kaminski@enron.com'" <vince.j.kaminski@enron.com>
cc:
Subject:

Dear Mr. Kaminski,

I am a doctoral student at the Indian Institute of Management Bangalore,
India.  My area of interest is the Energy Sector, especially Electricity
Derivatives. I am interested in obtaining a copy of the following items:

1) Your presentation "Current Challenges in Modeling Power Price
Volatility"
at the session on Price Volatility & Probabilistic Methods in the Energy
Markets.  (http://www.informs.org/Conf/SanAntonio2000//TALKS/MD29.html)

2) Your chapter "The Challenge of Pricing and Risk Managing Electricity
Derivatives" in the book 'The US Power Market', Risk Publications.

I would appreciate it if you could send me a soft/hard copy of the same.

Thank you,

Yours sincerely,

Hari Natarajan
Fellowship Student
Indian Institute of Management Bangalore
Bannerghatta Road
Bangalore 560076
India
Tel: 91-80-6993056
Fax: 91-80-6584050
E-mail: hnatraj@iimb.ernet.in


How about I swing by and get you at 11, Patty Lee, Rhonda Ryan, and Vickie Gross will be coming with us.

Mary

 -----Original Message-----
From: 	White, Leesa
Sent:	Thursday, October 11, 2001 9:39 AM
To:	Fischer, Mary
Subject:	Lunch

what time should we leave?

leesa


---------------------- Forwarded by Jane M Tholt/HOU/ECT on 06/12/2000 01:51
PM ---------------------------

"Bautista, Larry L." <BautistaL@EPEnergy.com> on 06/06/2000 08:39:45 PM
To: ALEX GOLDBERG <agoldberg@lgl.twc.com>, ANDREW KOLESAR
<abk@sloverandloftus.com>, BARBARA JOST <bjost@huberlaw.com>, BARRY GRAY
<bgray@epelectric.com>, BOB GRAY <bgray@cc.state.az.us>, BRUCE CONNELL
<bruce.a.connell@usa.conoco.com>, CARLA JOHNSON
<carla.j.johnson@usa.conoco.com>, CAROLYN CORWIN <ccorwin@cov.com>, CARRIE
SAFFORD <csafford@mbolaw.com>, CATHY BULF <cbulf@oneok.com>, "Cox, Robin"
<CoxR@EPEnergy.com>, CURT BRECHTE <cbrechte@apsc.com>, DARRYL SMETTE
<darryl.smette@dvn.com>, DAVID CLARK <dclark@sempra.com>, DAVID HUARD
<dlh@jmbm.com>, "DAVID I. BLOOM" <dbloom@mayerbrown.com>, DEBBIE SWANSTORM
<daswanstrom@verner.com>, DEBRA BOLTON <debra.bolton@bakerbotts.com>, DIANE
MCVICKER <dbmcvick@srpnet.com>, "DONALD G. AVERY" <dga@sloverandloftus.com>,
"DONALD W. PETERSEN" <dwp9@pge.com>, DONNA FULTON <dfulton@enron.com>, DOUG
CANTER <dmcwash@mshpc.com>, DOUG SCHANTZ <doug_schantz@kmmktg.com>, "DOUGLAS
K. PORTER" <porterdk@sce.com>, ED ROSS <earo@dynegy.com>, "ELISABETH R.
MYERS-KERBAL" <emyerskerbal@shb.com>, ERIC EISENMAN <exe3@pge.com>, FRANK
LINDH <frl3@pge.com>, GERARDO ESPINOSA <gespinosa@gas.pemex.com>, GORDON
SMITH <gsmith@jhenergy.com>, HARVEY MORRIS <hym@cpuc.ca.gov>, JAMES MCGREW
<jhmcgrew@brugen.com>, JAMES MORIARTY <jmoriarty@fw-law.com>, JANE THOLT
<jane.m.tholt@enron.com>, JANICE ALWARD <jalward@cc.state.az.us>, JOANN
RUSSELL <joann.russell@et.pge.com>, "JOEL L. GREENE"
<jlgreene@energyadvocates.com>, JOHN GREGG <jgregg@mbolaw.com>, JOHN HESTER
<john.hester@swgas.com>, "JOHN P. ARMATO" <jpa3@pge.com>, "JOHN P. BEALL"
<bealljp@texaco.com>, "JOHN R. STAFFIER" <jstaffier@sdsatty.com>, JUDY
JOHNSON <jaheineman@aol.com>, JUNE SUWARA <jsuwara@sempra.com>, KAREN TOMCALA
<karen.tomcala@pge-corp.com>, KARYL LAWSON <karyl_lawson@kmmktg.com>, KATHIE
EDWARDS <kbedwards@gkrse-law.com>, "KATHLEEN L. MAZURE" <klm@dwgp.com>, KAY
KERN <kernks@sce.com>, KEITH MCCREA <kmccrea@sablaw.com>, "KELLY A. DALY"
<kadaly@moheck.com>, KEVIN LIPSON <kjlipson@hhlaw.com>, "KIM M. CLARK"
<kclark@jhenergy.com>, L PERSON <l.person@czn.com>, LARRY BLACK
<llblack@ibm.net>, LUIS MANUEL PADILLA <lpadilla@gas.pemex.com>, M BERGERN
<mbergero@czn.com>, MARIA OROPEZA <oro@cpuc.ca.gov>, "MARK T. MITCHELL"
<mitchellm2@epenergy.com>, "MARK W. SCHWIRTZ" <mschwirt@aepnet.org>, MIKE
MCELRATH <mmcelrath@phelpsdodge.com>, NORMAN PEDERSEN
<napedersen@jonesday.com>, PATRICIA ANDERSON
<pat.anderson@southernunionco.com>, PATRICK BROWN <pabrown@socalgas.com>,
"PATRICK G. GOLDEN" <pgg4@pge.com>, PAUL KEELER <pkeeler@br-inc.com>, PENNY
BARRY <barryp@bp.com>, PETE FROST <pete.frost@usa.conoco.com>, PETER CERVIN
<pcervin@br-inc.com>, RANDY RICH <rrich@bracepatt.com>, REBECCA CANTRELL
<rebecca.w.cantrell@enron.com>, RICHARD JORDAN <richard.jordan@swgas.com>,
RICHARD STAPLER <richard.stapler@williams.com>, ROB DAVIS
<redavis@sempra.com>, ROBERT FOSS <rfoss@coral-energy.com>, SANDRA ROVETTI
<sjs@cpuc.ca.gov>, SARAH TOMALTY <seto@dynegy.com>, SHERRI BOOYE
<sbooye@skadden.com>, "SHERRI L. BOOYE (2)" <nizra@earthlink.net>, STEVE
KEEHN <skeehn@sempra.com>, STEVE TARPEY <tarpeysp@bp.com>, SUSAN GINSBERG
<susan.ginsberg@coastalcorp.com>, TED MCMURTRIE <edward.mcmurtrie@swgas.com>,
TOM CARLSON <tcarlson@apsc.com>, TOM ROTH <tom.roth@et.pge.com>, VIRGIL
SPURGEON <vrspurg@ppco.com>, WAYNE ELLIS <wayne.ellis@williams.com>, "WILLIAM
S. SCHERMAN" <wscherma@skadden.com>
cc: "Healy, William H." <HealyW@EPEnergy.com>, "Clark, Al W."
<ClarkA@EPEnergy.com>, "Ferguson, Michael D." <FergusonM@EPEnergy.com>,
"Shelton, Patricia A." <SheltonP@EPEnergy.com>, "Derryberry, Richard L."
<DerryberryR@EPEnergy.com>, "Tomlinson, Robert T." <TomlinsonR@EPEnergy.com>
Subject: EPNG Settlement Proposal

> As promised at the last ADR meeting, attached are three documents
> summarizing the settlement proposal El Paso would like to discuss at the
> June 12 meeting in San Francisco.
>
> This document outlines the proposal:
>  <<Outline of Settlement Proposal 6-6-00.doc>>
>
> This document summarizes the receipt and delivery right assignments.  For
> simplicity, all of the assignments have been summarized on the worksheet
> labeled "Consolidated Results."  The remaining worksheets in this workbook
> are the detailed calculations used to arrive at the individual
> assignments.
>  <<June 12 Proposal  Without J4JB in Mcfd.xls>>
>
>
> This document summarizes the flow assumptions used in generating the
> receipt and delivery right assignments:
>  <<Flow Assumptions.ppt>>
>
> Bill Healy
> (915) 496-2144
> healyb@epenergy.com

******************************************************************
This email and any files transmitted with it from El Paso
Energy Corporation are confidential and intended solely
for the use of the individual or entity to whom they are
addressed. If you have received this email in error
please notify the sender.
******************************************************************

 - Outline of Settlement Proposal 6-6-00.doc
 - June 12 Proposal  Without J4JB in Mcfd.xls
 - Flow Assumptions.ppt


Here are a few examples of the summary I send out each afternoon. I've sent
four as attached documents and one just pasted into the e-mail. Use whichever
works best for you, and let me know if you need more.

Thanks,
Kate


I will be out of the office from June 18-26 and will return on the 27.  Dana will be here to assist you in my absence.

Rufino


Contact Info:
Work: 011-65-838-9022
Cell: 011-65-9829-2871


just called   they're on vacation for two weeks.......that sucks

"Jennifer White" <jenwhite7@zdnetonebox.com> on 12/15/2000 12:46:59 PM
To: John.Arnold@enron.com
cc:
Subject: Re: O COME ALL YE FABULOUS!

OK, you don't have to twist my arm.

5 more hours... I can't wait!
Jen

---- John.Arnold@enron.com wrote:
>
> hey:
> any interest in seeing cirque du soleil saturday?
>
>

___________________________________________________________________
To get your own FREE ZDNet Onebox - FREE voicemail, email, and fax,
all in one place - sign up today at http://www.zdnetonebox.com


Justin & Matt,

Beth Cowan is a member here of the EnronOnline Marketing Team.  Her
Counterparty, Anadarko Petroleum Corporation, would like to get an ISDA
Master Agreement in place with ECTRIC (per Beth, they don't like our form of
GTC).  We already have a Local Currency form in place with ENA, but
obviously, that would not be an appropriate form for London to use.  It is
also on our form of Schedule from 1996, which we wouldn't want to work off of
either.  In addition, I've checked the Confidentiality Provisions, and they
do not have affiliate language in that would allow me to provide a copy of
the agreement to you w/o counterparty's consent.  Saying all that, could you
please help Beth out...

----- Forwarded by Tana Jones/HOU/ECT on 12/05/2000 04:25 PM -----

	Beth Cowan@ENRON
	12/05/2000 02:37 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Re: EnronOnline Counterparties

Tana-

Should I direct Anadarko's initial questions about the ISDA to you - they had
been directed to Edmund Cooper, but we would like to get them online to
transact and it sounds like they need the ISDA in place first.

Thanks,
Beth Cowan
---------------------- Forwarded by Beth Cowan/NA/Enron on 12/05/2000 02:34
PM ---------------------------
From: Harry M Collins@ECT on 11/14/2000 03:38 PM
To: Beth Cowan/NA/Enron@ENRON
cc: Leslie Hansen/HOU/ECT@ECT

Subject: Re: EnronOnline Counterparties

Beth,

Don was correct in that I handle matters dealing with physical hydrocarbons.

However, Leslie Hansen of the Legal Department generally handles  GTC matters
for EOL. Please consult with her on the Marathon matter.

Mark Taylor and his group in the Legal Department handle financial trading
and ISDA matters.

I hope this is helpful.

Please advise if you have any other questions.

	Beth Cowan@ENRON
	11/14/2000 03:25 PM

		 To: Harry M Collins/HOU/ECT@ECT
		 cc:
		 Subject: EnronOnline Counterparties

Harry-
I have recently begun working on marketing EnronOnline to the crude
customers.  Don Schroeder told me you were the attorney who works with that
desk.  I have some questions that have arisen that I was hoping you could
answer.

Don said Marathon Ashland Petroleum had some legal issues that were
preventing them from trading online and I was hoping you could tell me where
they stand or if you have had any conversations with them.

Also, I spoke with Anadarko Petroleum Corporation and they want to do some
crude financial deals but do not have an ISDA in place with Enron Capital &
Trade International which is who he said he understood the contract needed to
be in place with because he has some problems with the GTC's - does he speak
with Edmund Cooper about those problems or should he address his concerns to
you?

Thank You for your help,
Beth Cowan


Dear Sara:

Thank you for your E-mail below. We will be reflecting the new changes in the
regulations in the chart and will be sending it to your review as soon as
possible.

Kind regards,

Marcelo Rodrigues

>>> "Sara Shackleton" <Sara.Shackleton@enron.com> 03/13 2:29 pm >>>

Greetings to you both!  It has been awhile since we last spoke.  I would like
to
finalize the matrix which we have been discussing since the latter part of
1999.
Although we were awaiting new Central Bank regulations, I am beginning to
think
that the Central Bank revisions will not impact the matrix except with respect
to transactions which may be entered into by entities that are the subject of
the Central Bank regulations.  Please let me know whether or not you agree or
can offer any suggestions.  Thanks and regards.  Sara


Gabriel,

I'm not sure if Binh sent an email to you and to Controls to explain the
Canadian origination variance.  You may already be aware, but on the Orig
Sched the originations are converted to $US using the spot rate for the day.
However when the originations are calculated for the Report tab the rate
applied is the average rate for the month.  Therefore these values will never
be the same.  Nicole is going to talk to Kathy when she gets back to Canada
on Monday.  Nicole says she has found a way to modify their spreadsheet so
that both values are calculated using the daily spot rate.   If you haven't
recieved an email from Binh explaining this issue you might want to forward
the attached message from Nicole to Michael and Chris.

Thanks,
Robin

PS The Bench by trader tied out for the 23rd.  I'll be in a little early
tomorrow to tie it out for the 24th.  Bye.
---------------------- Forwarded by Robin Rodrigue/HOU/ECT on 08/24/2000
11:43 PM ---------------------------

Nicole LaPorte
08/24/2000 01:20 PM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Origination Problem

Robin,
I spoke with Kathy regarding the problem we are having with origination. Her
explanation is as follows:
This is an fx issue. Because origination is denominated in a currency (USD)
which is different than our functional currency (CAD), origination expense
will be comprised of not only origination but also currency gains and losses
on origination. Everyday orig. is retranslated in C$ using the current rate
and any fx gains or losses relating to that is added to origination.
Therefore, the total origination as per the "origination" tab will NOT equal
the origination as per the "report" tab. Robin should add in the translation
gains/losses to get it to reconcile.
I hope this explanation makes sense and is acceptable. I know you're used to
the two numbers reconciling but since we were asked to denominate our
origination in US dollars (about 2 months ago) these two numbers will never
again be the same.
Please call if you have any questions,
Nicole


My thoughts are written into the document
-----Original Message-----
From: Erb, Kim [mailto:KErb@houston.deepwater.com]
Sent: Wednesday, February 06, 2002 10:34 AM
To: Shelley Corman (E-mail)
Subject: SPRC Meeting

Shelley,

What do you think?

Beez,

Since our telephone conversation concerning the special SPRC meeting, I have
prayed/thought about the topic and have the following opinion.

While I agree that this decision has to be made with the good of the entire
congregation in mind, I would like to say that my family and I feel that our family and the
congregation have benefited from Ernie's practical and humble approach to Christian living.

We have witnessed Ernie handle delicate situations with compassion and
consideration.  We also appreciate Ernie's support during Alina's difficult
transition to our home and at ACEC.

Ernie may not deliver the most inspiring sermons, may not be as outgoing as prior pastors at
the church, and may not display managerial qualities in dealing with church staff. Certainly these are important considerations, and perhaps the most important considerations for a pastor of a church the size of AUMC.
But, I just want to make sure I raise up those gifts that I think Ernie has brought to the
church.  Ernie is the type of person that helps to fix a flat tire, helps pack up the folding chairs after
an event, or gives a stranded member a ride home.  In some ways it seems to me that Ernie is more comfortable
leading by quiet example than being a formal leader.  I believe that it has been good for our congregation to
see that a pastor can get his hands dirty in the process of pastoring to his congregation.

Having said this, both Shelley and I realize that we don't have the day to day contact with
Ernie in the church office setting and don't see the managerial issues that have been raised.  Furthermore, we don't
believe we can afford to have AUMC's membership adversely affected if we intend to grow this church to minister to the needs of our growing community.   In summary, Ernie has my family's support if there is any opportunity to work through the concerns that have been raised, but AUMC is our home and whatever is best for AUMC, that is the direction we should take.  I will support the SPRC's decision.

Kim


Just a note to let you know Columbia Gas has some capacity postings on the
EBB for next winter.  BIDS ARE DUE 3/15 AT 9AM.
Attached is a spreadsheet showing the parcel numbers.  I highlighted the
meters that you did not have enough capacity to serve your load this winter.
I would be happy to bid on this as your agent, but let me know what rate
works based on your economics.  This is a bid process, so the current low bid
is just an indication of the market value of the capacity.

Scott


Good Morning,

Over the last couple of weeks, we've made several recent additions to the
Portland IT applications team.  We hope that with this new influx of talent
we will continue to "raise the bar" for IT support of Enron's trading
activities in Portland.

Richard Schweiger is our new Senior Applications Specialist. He comes to
Enron through RHI Consulting where he contracted at Enron for the last 2
months and has now converted to full-time.  Richard has several years of
Visual Basic and C++ programming experience. He has been living in the
Portland, Oregon area for the past 4 years and is originally from
California.  His current projects include migration of the California
Pre-Trade application to the intranet as well as building strong middle tier
architecture to support the new CAL-Web development.

Michael Tully is our new lead Trading Floor Support analyst.  He recently
moved from Oklahoma where he was the Lead Help Desk Support for Electronic
Storage Corporation.  Mike's wife is due with their second baby in January.
Outside of work, Mike love's to scuba dive.  Mike is currently working for
Comsys and hopes to eventually convert to full-time.  Mike is replacing
Wendella Rhoads who recently moved back to Eugene to be closer to family.

Dan Maxwell is a new contract developer from Maxim consulting working on the
California Pre-Trading application.  Dan currently lives in Boise, Idaho and
commutes to Portland during the week.  Dan spent the previous year commuting
to Washington DC developing software for GEICO insurance company.  He is
originally from Miami, Florida where the beach is the place to be but
counting is a lost art.

Paul Kane has recently transferred from the IT infrastructure group to the IT
applications group to work on SQL support and development.

On a sadder note, we will be losing Winston Goodbody on December 18th to a
six month cross-country skiing trek across Wyoming.  Winston has been
contracting at Enron for the last year and a half and will be sorely missed.

Thanks,  David Poston


(see tickler file)


Thanks for the articles.  Well, not quite in PJs, but yes, working from home,
which is some consolation.  PG&E has said that a signficant share of gas
suppliers have stopped transacting with PG&E due to credit risk.  Our
exposure to PG&E is huge (both EES and ENA), so I wouldn't be surprised if
we've stopped transacting with them until the Commission comes out with its
decision on the 4th and we see how the ratings agencies respond.  I can find
out first thing Tuesday morning.

And a very happy and safe new year to you, too.

Best,
Jeff

	Karen Denne
	12/30/2000 04:34 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: Articles

So are you in your PJs working at your computer at home?  Just teasing!
Thought you'd be interested in these LA Times articles.  FYI, I got two calls
yesterday (Dow Jones and Bloomberg) about us refusing to sell gas to PG&E --
all the traders were gone, so I couldn't get an answer and Steve didn't
know.  Let me know if you hear anything.

Happy New Year!
:-) kd

http://www.latimes.com/business/reports/power/lat_power001230.htm

http://www.latimes.com/business/reports/power/lat_bryson001230.htm

http://www.latimes.com/business/reports/power/lat_gas001230.htm


Francisco Luis officially accepted today with a transfer date of February 1,
2000.  He will assume a Staff position, in the Risk Controls-Operational
department, reporting to Carrie Hollomon.   Please let me know if I can be of
further assistance.

Thanks!
gf


I have forwarded the attached to our tax guys to make sure they are both in agreement and have nothing to add.  Please let me know if you have any questions or comments.
-----Original Message-----
From: Markel, Gregory A. [mailto:GMarkel@brobeck.com]
Sent: Saturday, July 21, 2001 6:06 AM
To: Brownfeld, Gail; 'george.mcclellan.@enron.com'
Cc: Johnson, Christopher P.
Subject: FW: Sempra tax rate

Greg Markel
Brobeck Phleger & Harrison
1633 Broadway
New York, New York 10019
Phone: 212 237 2592
Fax  212 586 7878
gmarkel@brobeck.com

-----Original Message-----
From: Martin, Keith [mailto:kmartin@chadbourne.com]
Sent: Friday, July 20, 2001 2:16 PM
To: 'gmarkel@brobeck.com'; 'cpjohnson@brobeck.com'
Subject: Sempra tax rate

Greg and Chris,

	As best we can tell, Sempra is not in a position currently to use
section 29 tax credits.  This is based on the following bits of evidence.

	1. A company cannot claim section 29 tax credits in years when it
pays no taxes or pays them under the alternative minimum tax (rather than
the regular corporate income tax).

	2. Section 29 credits cannot be carried forward.  A company must use
them or lose them.  The one exception is in a year when the company is on
the alternative minimum tax, the credit turns into a so-called AMT credit
and can be carried forward.  It must be used in that case in the first year
the company comes off the AMT.

	3. It appears from Sempra's 10-K that it was in a net operating loss
position in 2000.  The company shows "current" federal income taxes of -$8
million.  It also shows "deferred" federal income taxes last year of $207
million.  According to Morris Meltzer, tax director at PG&E's unregulated
affiliate, this means that the company had more book income than taxable
income last year.  The deferred tax liability reflects the taxes the company
expects to have to pay in the future as a result of this disparity.

	4. Sempra's 10-Q for the first quarter 2001 shows positive current
tax liability of $74 million.  However, Jack Casey, vice chairman of
Meridian Investments, told me that Sempra expects to be in a net operating
loss position for the year.  Meridian has been hired by Sempra to sell
Sempra's interest in the Carbonronics syncoal facilities.  I asked Casey why
Sempra wants to sell -- is it because it can't use the tax credits or
because it has soured on investing in syncoal projects given all the bad
publicity?  Casey said it cannot use the tax credits.

	In other news, the IRS has not budged on its plan to limit the
capacity of plants to which it issues rulings to absurdly low numbers.  The
industry has complained to the Treasury, and there have been discussions at
senior levels of Treasury and the IRS, but no reports back on where these
internal talks are headed.

	Detroit Edison has a meeting with the IRS on its ruling request next
Tuesday.  The IRS has said it will limit capacity at the DTE facility to
198,000 tons a year.

	I assume you saw the article last Thursday in the Wall Street
Journal about syncoal projects.  It was on the front page.  As far as I can
tell, all proposed sales of syncoal plants in the market are on hold.  This
is a consequence of the Wall Street Journal article and the impasse with the
IRS over capacity.  The industry is starting to think it may have won a
political battle earlier this year at Treasury, but lost the war.  The IRS
bureaucrats will have the final say.

	Joe Makurath, the IRS rulings group chief, said he is getting a
number of FOIA requests for documents about projects on which the IRS has
already ruled.  He said he intends to be liberal in releasing information.
There are rumors that the Wall Street Journal may be one of the
organizations seeking information and may be at work on a followup article.

	The IRS launched an audit of four projects in West Virginia and
Virginia that many people consider to be on the best end of the spectrum.
The projects already have rulings that they qualify for credits.  The IRS
appears to be gathering evidence to argue that they did not get into service
in time to qualify for tax credits or else that the projects failed to
comply with the rulings.  It is sending out big guns from Chicago, and one
agent told the taxpayer that the IRS national office said "don't worry about
expense on this one."

	I will try over the weekend to give you my comments on the
deposition transcripts.  Sorry for the delay.  If you don't find them when
you come in on Monday, they will be first on my to-do list that morning.

Keith

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NOTE:  YOU WILL RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.

You have been selected to participate in the Year End 2000 Performance
Management process by providing meaningful feedback on specific employee(s).
Your feedback plays an important role in the process, and your participation
is critical to the success of Enron's Performance Management goals.

To complete requests for feedback, access PEP at http://pep.corp.enron.com
and select Perform Review under Performance Review Services.  You may begin
providing feedback immediately and are requested to have all feedback forms
completed by Friday, November 17, 2000.

If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:

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London:  44.207.783.4040, Option 4
Email: perfmgmt@enron.com

Thank you for your participation in this important process.

The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."   Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.

Review Group: ENRON
Feedback Due Date: Nov 17, 2000

Employee Name                   Supervisor Name                 Date Selected
-------------                   ---------------                 -------------
ELLEDGE, SUSAN                  LINDA S BRYAN                   Nov 02, 2000
ESPEY, DARREN                   GEORGE F SMITH                  Nov 08, 2000
KINSEY, LISA M                  GEORGE F SMITH                  Nov 08, 2000
LENART, KIRK D                  GEORGE F SMITH                  Nov 08, 2000
MAHMASSANI, SOUAD               KAM N KEISER                    Nov 07, 2000
WHITE, JESSICA                  GEORGE F SMITH                  Nov 07, 2000
WILLIAMS, JASON C               ROBERT A SUPERTY                Nov 02, 2000


Jason,

I received a response from my tax department and they seem to think that it
might be best to have a conversation with your tax people to better explain
how DLJIC is treated as a US partnership for tax purposes.  It is our belief
that the new regulations becoming effective on 1/1/01 will be helpful
because they will treat DLJIC as a US person.  Please let me know if you
think a conference call will work for you.  Perhaps we can schedule that
when I return from vacation.

Regards,
Suanne

> -----Original Message-----
> From: Dunn, Suanne
> Sent: Monday, July 24, 2000 4:26 PM
> To: 'Jason.Peters@enron.com'
> Cc: Sara.Shackleton@enron.com
> Subject: RE: ISDA Agreement between ECT Investments, Inc. and DLJ
> International Capital
>
> Jason,
>
> Thank you for the revised draft and for the amendments you made.  As we
> discussed in our last conversation, I needed to more fully review the
> issue of letters of credit being posted as Eligible Credit Support.  I
> have done so and had some additional comments as a result.  In addition,
> there were some other items that I asked to be amended that weren't
> addressed.  I thought it would be easier for me to just blackline your
> draft rather then sending you a list of comments (see attached).  Perhaps
> we can use this draft as a basis for a discussion of the remaining open
> items.
>
> I will be leaving for vacation on Wednesday afternoon.  If you've had a
> chance to prepare, we can talk before then.  If not, then we can pick this
> up after I return on August 7th.
>
> I look forward to hearing from you.
>
> Regards,
>
> Suanne
> 212-892-6280
>  << File: ECT Investments-DLJIC Enron form.doc >>
>
>  -----Original Message-----
>  From: Jason.Peters@enron.com [SMTP:Jason.Peters@enron.com]
>  Sent: Thursday, July 06, 2000 4:00 PM
>  To: sdunn@Dlj.com
>  Cc: Sara.Shackleton@enron.com
>  Subject: ISDA Agreement between ECT Investments, Inc. and DLJ
> International Capital
>
>  Suanne,
>
>  Attached for your review, please find a blacklined copy of the
>  above-referenced Agreement marked to show changes to draft of April
> 21.
>  Please call me at 713-853-9720 with any comments or questions.
>
>  Thanks,
>
>  Jason
>
>  (See attached file: DLJ International Schedule R.doc) << File: DLJ
> International Schedule R.doc >>


We've heard from WSPA that Bowen may take up her direct access bill on
Monday in its present form.  The coalition members have submitted many
forms of language to her office, but it is believed she is pressing
ahead with her version giving the PUC control over this issue.  Kelly's
direct access bill will remain in a form supported by the coalition, but
is not expected to move through Bowen's committee.

The Republicans are coming out with a 5 bill package next week to
include:  direct access (coalition language), siting, conservation (with
a tax credit), 8 hour day, and blackout protocol.  They'll be introduced
in the second special session with accompanying press conference.


I'm sorry. TECO and Ft. Pierce Utility Authority.

 -----Original Message-----
From:  Mann, Kay
Sent: Friday, June 01, 2001 1:35 PM
To: Jacoby, Ben
Subject: RE: Midway

I need the name of the other party involved in Ft Pierce so that John can
clear conflicts.

From: Ben Jacoby/ENRON@enronXgate on 06/01/2001 12:24 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Midway

Can we assume this will also cover Ft. Pierce?

 -----Original Message-----
From:  Mann, Kay
Sent: Friday, June 01, 2001 10:09 AM
To: jkeffer@kslaw.com; Jacoby, Ben
Subject: Midway

Mark Haedicke approved the hiring of King & Spalding for this matter.  I will
drop Mr. Derrick a voice mail, but I would faint if he objected.

John, we need to talk about the sale of the LLC, and the generation of a
draft doc re same.  Please let me know if you are available today to discuss
this transaction with Sr. Jacoby and me.  Additionally, it would be helpful
to discuss the tolling arrangement with Ken.

Thanks,

Kay


Our legal is reviewing right now.  Hopefully, I'll have a final answer
tomorrow.

Susan

Stevens_Hollister@eott.com on 08/31/2000 03:54:05 PM
To: Susan.W.Pereira@enron.com
cc:
Subject: Bazor Ridge Gas Plant

Susan,

How have you come with the question I (actually the producer) had about the
contracts, and being able to change some of the lanuage.  They are looking
to be up and running in the next two weeks.

I'll give you a call tomorrow sometime.

Thanks,

Stevens