FYI
 -----Original Message-----
From: 	Cash, Michelle
Sent:	Monday, February 04, 2002 9:33 AM
To:	'Rebecca.White@ubsw.com@ENRON'; Jordan.Schiffman@ubsw.com; Louis.Eber@ubsw.com; Audrey.Martin@ubsw.com
Cc:	Oxley, David
Subject:	RE: FW: Canadian legal entity

Great!  That sounds logical and much more simple than preparing entirely new agreements.  I hadn't seen a template, but would be happy to assist by either preparing or reviewing one.  Let me know if I can provide any assistance.  Michelle

 -----Original Message-----
From: 	Rebecca.White@ubsw.com@ENRON
Sent:	Monday, February 04, 2002 7:40 AM
To:	Cash, Michelle; Jordan.Schiffman@ubsw.com; Louis.Eber@ubsw.com; Audrey.Martin@ubsw.com
Subject:	Re: FW: Canadian legal entity

     Michelle:

     I think what was discussed is simply a cover letter to annex to the
     contracts indicating the name of the new entity. Lou/Audrey-didn't we
     prepare a template for this ?

     REW

______________________________ Forward Header __________________________________
Subject: Re: FW: Canadian legal entity
Author:  Jordan Schiffman at i-am,g,stamford,legal
Date:    2/4/02 8:07 AM

     None that I have heard about..

______________________________ Reply Separator _________________________________
Subject: FW: Canadian legal entity
Author:  Michelle.Cash (Michelle.Cash@ENRON.com) at unix,mime
Date:    2/4/02 3:53 AM

Jordan,

Do you have any information on new contracts for Canada?

Thanks.

Michelle

        -----Original Message-----
        From: Oxley, David
        Sent: Sun 2/3/2002 3:40 PM
        To: Cash, Michelle
        Cc:
        Subject: FW: Canadian legal entity

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

        -----Original Message-----
        From: Kitchen, Louise <Louise.Kitchen@ENRON.com>
        To: Oxley, David <David.Oxley@ENRON.com>
        Sent: Fri Feb 01 12:21:04 2002
        Subject: FW: Canadian legal entity

        Are you working on the new Contracts?

         -----Original Message-----
        From:   Forster, David
        Sent:   Friday, February 01, 2002 12:20 PM
        To:     Taylor, Mark E (Legal); Keohane, Peter; Hedstrom, Peggy
        Cc:     Kitchen, Louise; Milnthorp, Rob; Beck, Sally; Zufferli, John
        Subject:        Canadian legal entity

        The name for the Canadian entity which will enter into both Master Agree
ments and individual commodity transactions is: "UBS Warburg Energy (Canada) Ltd
.", as confirmed by Lou Eber: UBS Chief Legal Counsel.

        I am working on chasing down the parental guarantee issue.

        Dave

**********************************************************************
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 r
ecipient (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.messa
ging.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 C
orp. (or any of its affiliates) and the intended recipient or any other party, a
nd may not be relied on by anyone as the basis of a contract by estoppel or othe
rwise. Thank you.
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Visit our website at http://www.ubswarburg.com

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related financial instruments.


---------------------- Forwarded by Darron C Giron/HOU/ECT on 11/27/2000
10:12 AM ---------------------------

"Clark Mayers" <jcmayers@earthlink.net> on 11/27/2000 10:03:15 AM
Please respond to "Clark Mayers" <jcmayers@earthlink.net>
To: "Sean Mayers" <smmayers@earthlink.net>, "Mike/Christine Richter"
<crich75206@aol.com>, "Mary Fate" <maryfate@planetkc.com>, "Kim
Mayers/Sprint" <Kim.Mayers@mail.sprint.com>, "Frank Frederic"
<fpfred@juno.com>, "Darron Giron" <Darron.C.Giron@enron.com>, "Darnell Moore"
<darnellmo@aol.com>
cc:
Subject: Fw: Have you done the Palm Beach Pokey yet?

?
?
?
http://www.dovewinds.com/dubya/alshokeypokey.html


Just a few of questions.

1. Will Kevin take MTM income on this position on "day one?"

2. Why just 5 years sold?

3. Does your 9% contemplate covering depreciation?

Wes

John J Lavorato@ENRON
12/11/2000 08:44 AM
To: Kevin M Presto/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT, Wes
Colwell/HOU/ECT@ECT, Don Miller/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT
cc:
Subject:

The following points refer to the methodology that we are taking to rebook
the New Albany Plant.  Please send me a note immediately if you disagree.
Assume that NewAlb is a non mark to market entity and Enron is the mark to
market entity.  However, it is fully owned and operated by us for now.

*  The power mark to market book will pay NewAlb a capacity payment of $4.87
for 5 years.  We shaped this payment as follows:

2001 - $5.06
2002 - $4.96
2003 - $4.86
2004 - $4.75
2005 - $4.65

*  This payments allows Enron to supply gas to NewAlb and receive power.

*  Enron will pay NewAlb $1000 per unit start.

*  Enron will also pay NewAlb $1.05/MW hour for varialbe o&m.

*  This will create an entity "NewAlb" that will return 9% assuming a book
value of $336/kw on 12/31/2005 vs. 409 currently.

*  If NewAlb pays the 9% out that entity should be relatively flat each year
for the next five.


Tubes, Tubes, Tubes:

What are we to do without our Director for the epic "Come-alot"?  To see your missive, well, what can I say, "...it bears me back to days of..." can you help me with the rest?  Wonderful hearing from you!!

Hands Hohl, --KAI--

520
---
Carl Hohl: Tomball native.  Active father of 3 boys, Travis, Tyler and Trent; Wife is Paula, Commercial Real Estate 'Typhoon'.

Both Carl and Paula are in relentless pursuit of excellence in solutions to Real Estate sales and acquisition problems.

CENTURY 21 Executive

Visit>> http://CHohl@Homelog.com ;

www.carlhohl.com

Direct Line:  713-705-8090

E-mail    chohl@c21executive.com

On Sat, 6 Oct 2001 13:41:37    pwm1950 wrote:
>Brothers of Gamma Omega - My silence is broken!  I laughed my tired old ass
>off this morning reading the e-mails you guys wrote in response to our newest
>member Justin Loweth, class of 2000.  I know I'm getting old, when I have a
>daughter who also graduated from college with the class of 2000! And she is
>my second college graduate in the family!  I read with interest the
>observation from "Beek" that our Wooglin Club is comprised of Beta's vintage
>1972 to 1978, that makes me apart of that "mystic shrine on high", standup
>and be counted, brothers of the class of 1972!
>
>" Tox" what is all this crap about Hershey bars; "Dro-w" dead animals parts;
>no way!  The last time " Good Wood" Berry was seen he was still trying to
>learn how to run the " guard release deep" down Central Expressway.  That was
>in 1975 and he is still running!  You guys know that if it were not for all
>of us crazy bastards in the class of 1972, everyone of you would be model
>citizens,tea totaliers,and very boring introverts.  We brought out the best
>in all of you!
>
>Now back to Brother Justin, once a Beta - always a Beta!  If you can stand us
>you can stand anything,"sing to thee -Beta Theta Pi".  Seriously, Justin's
>role number is #1,367; I don't remember who number # 367is (I hope not was)
>but this poor bastard should be our Distinguished Beta " mother of men".  I'm
>feeling a song here somewhere!  Anybody have a loving cup around?
>
>Homecoming should be a blast!  Have a great time!" Hail to the Beta Theta
>Pi"!  What a catchy tune - God, I love that song! Memories...........
>
>Yours in -kai-
>
>Phil Morrow
># 388
>aka - Tuba
>
>

Join 18 million Eudora users by signing up for a free Eudora Web-Mail account at http://www.eudoramail.com

------------------------ Yahoo! Groups Sponsor ---------------------~-->
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CLICK HERE to search
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http://us.click.yahoo.com/Pv4pGD/4m7CAA/ySSFAA/Vk9qlB/TM
---------------------------------------------------------------------~->

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 http://docs.yahoo.com/info/terms/


Leslie:  Can you attend this meeting for me?  I will be in London.

Patti:  Can you get time and location for Leslie and let them know that she
will be there instead of me?  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 01/12/2001 10:14 PM
---------------------------

	Enron North America Corp.

	From:  Rebecca Miles @ ENRON                           01/12/2001 10:28 AM

To: Melissa Allen/LON/ECT@ECT, Beth Apollo/LON/ECT@ECT, Caroline
Lothian/LON/ECT@ECT, John Paskin/LON/ECT@ECT, Donald Miller/Corp/Enron@Enron,
Andrea Yowman/Corp/Enron@ENRON, David O'Dell/HR/Corp/Enron@ENRON, Cynthia
Barrow/HR/Corp/Enron@ENRON, Biren Kumar/Enron Communications@Enron
Communications, Matthew Huddleston/NA/Enron@ENRON, Steve Frazier/HOU/EES@EES,
Greg Lewis/GPGFIN/Enron@ENRON, Elise Clark/Corp/Enron@ENRON, Allen W
Ueckert/NA/Enron@Enron, Thao Nguyen/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mary
Perkins/HOU/ECT@ECT, John Gillespie/Corp/Enron, Sally Beck/HOU/ECT@ECT, Wes
Colwell/HOU/ECT@ECT, James Britton/LON/ECT@ECT, Jo Ann Hill/Corp/Enron@ENRON,
Elaine Schield/Corp/Enron@ENRON
cc: ISC ORG LEADERSHIP, ISC ORG SOLUTION MANAGERS, Richard
Priska/NA/Enron@Enron, Margarite Cunningham/Corp/Enron@ENRON, Allan
Sommer/Corp/Enron@Enron, Regina Karsolich/Corp/Enron@ENRON
Subject: Agenda for SAP Optimization Meeting -- Wednesday, Jan. 17

Attached is the agenda for the SAP Optimization Kick-Off meeting.  The
following handouts will be provided at the meeting:

ISC Organization Chart
ISC Solution Manager Bios
Template for business area 2001 SAP goals
Revised SLA
Copy of Remedy Report
Copy of Maximize Dashboard
Customer Relations presentation

Please feel free to contact Rich Priska (x56069) or me with any questions.
Please RSVP to Margarite Cunningham (x56130).

Thank you,
Rebecca
x56364


Dear Jeff,

Speed, flexibility, and round-the-clock productivity are the hallmarks of Izhuta Software Development Outsourcing Services. Our fast and flexible on/off site, offshore 24x7 delivery model lends itself to a full spectrum of outsourcing services - from applications maintenance, development, and modernization to full technology outsourcing, including data center operations.

We can offer Enron Corp Our Certified Microsoft and Sun/Java professionals are available at $18/hr to work on your projects.We have nearly 500 employees and state of the art development facilities. Our Technology and Development centers in India are considered the "crown jewel" of Izhuta and is a key distinguisher for you.

http://www.Izhuta.com/OutSourcingFAQs.asp

Over the years, our Global Technology Centers (GTCs) in India have achieved an impressive record of project accomplishments for our U.S., European, and Asian customers.

Our Innovation Centers (IC's) and GTC's offer the following capabilities for our customers:

   a.. Custom Application Development
   b.. Application Development and Maintenance Outsourcing
   c.. Application Re-engineering Services
   d.. Data Migration and Porting Services
   e.. 24x7 Help Desk/ Call Center Support Services

Although all of our services can be accomplished in one of our U.S. Innovation Center's, our customers gain significant added value by utilizing the power of our offshore Global Technology Center capabilities. Please visit http://www.izhuta.com/home/Save75Percent.asp

This 24x7 development and delivery model enables Izhuta to scale project staffing rapidly to meet client needs, to engage in concurrent development and to employ a virtual 24-hour work day on client projects.

Jeff , Please let us know if we can set a quick meeting to discuss these details. Look forward to hearing from you soon.

Regards,

Hema Malini
Hema@Izhuta.com
Phone: 1 800 485 7004 ext 202
http://www.Izhuta.com


Start Date: 4/9/01; HourAhead hour: 4;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040904.txt

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/9/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_OZZY
  ENGY_TYPE: FIRM

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 4 / Preferred:  60.43 / Final:  59.43)
  TRANS_TYPE: FINAL
  LOAD_ID: SCE1
  MKT_TYPE: 2
  TRANS_DATE: 4/9/01
  SC_ID: EPMI


Gentlemen:

I have been advised by J. Nassos that Peoples (through WestLB) will be
exercising the ABB option today. I have asked that they send me a copy of the
notice of exercise of option, and I left Mike Sandridge a voice mail telling
him to expect it this afternoon.

Please let me know if you have any questions.

Kay


Sara, there is no paralegal yet working this deal.  It is an old Susan Flynn
deal and no credit has been received.  Unless you appoint a paralegal to
handle this I expect I will still be the paralegal that gets the snotty
emails and phone calls from Jen and from Rich Lassander.

	Sara Shackleton
	05/29/2001 10:32 AM

		 To: Susan Bailey/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samantha
Boyd/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron, Marie
Heard/NA/Enron@Enron
		 cc:
		 Subject: Re:  Nova Scotia Power

I'm not sure who is handling.  Tanya is supposed to prepare credit.

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 05/29/2001 10:30 AM -----

	Jennifer Fraser/ENRON@enronXgate
	05/28/2001 09:51 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Richard Lassander/ENRON@enronXgate
		 Subject: FW: NSPI - ISDA _Update

Below you will find the full contact information.Please have a copy sent to
Richard Lassander as well.
-----

;

Don Keith

Treasurer

Nova Scotia Power Inc.

1894 Barrington St 9th Floor

Scotia Square

Halifax NS

Canada

B3J 3 A8

Phone 902- 428-6848

fax; 902-428-6181

The website for the CP is http://www.nspower.ca/

Their finacials can be found at http://www.emera.com/

Please note that NSPI (Emera) is a publicly traed utility -- they are not
gov't owned.

;
;
-----Original Message-----
From: Lassander, Richard
Sent: Mon 21/05/2001 18:33
To: Fraser, Jennifer
Cc:
Subject: NSPI - ISDA

Jen,
An update with regards to the Nova Scotia Power ISDA. After several days of
trying to hunt down Brant Reves he referred me to Rudwell Johnson in Credit.
He in turn sent me back to Tana Jones because there is an ISDA issued and you
don't have to renew it if it is already in place. I go back to Tana Jones to
see if the ISDA sent to Nova Scotia in July 1999 included Weather
Derivatives. Tana Jones referred me back to Sara Shackleton. I left a voice
mail with Sara this afternoon. Through this process I found out that the ISDA
sent to NSPI in July 1999 was never executed and we need to execute it before
we can do any deals with them. I was under the impression that we already
have been doing deals with them.

;

Richard Lassander
Enron Global Markets
Phone: 713-345-7600
Fax: 713-758-8400


The attached schedule covers both Sunday and Monday, Feb 3-4.  Associated text files will be posted to Sparky today.

Michael R. Frazier
Manager
Load Forecasting Desk
Enron Energy Services
Office: 713-345-3200
Pager: 877-926-0615
P-mail: 8779260615@skytel.com


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Enron Gov't Affairs provided this report on the Energy and Natural Resources
hearing on Natural Gas markets held this morning.  Please note the suggestion
that we provide a list of any specific items that we would like to see added
to energy policy legislation:

Witnesses from the Energy Information Administration, American Gas
Association, Natural Gas Supply Association and National Association of State
Energy Officials (NASEO) each testified that gas prices are high because
demand is greater than supply.
Basically, the hearing provided an opportunity for Western State Senators to
complain about policies that restrict E&P activity - especially on federal
lands.  Sen. Murkowski will probably introduce a supply oriented bill in the
next Congress.
The bottom line is that a number of Senators are deploring the lack of a
National Energy Policy and seem intent on doing something to rectify such
omission.
One specific area of interest of Senator Bingaman seemed to be the need to
create incentives to encourage pipleine investment.  He seemed especially
interested in the need for long term contracts to back development
Given that there may be interest to pass Energy Policy legislation, it may be
worthwhile to put together a wish list of items that affect our bottom line,
such as accelerated depreciation provisions, tax credits, etc.


Vince,

We have many Associates that we have to place within business units.
Thereafter, if there are additional hiring needs, we will consider her
resume.

Regards,
Shannon

Vince J Kaminski
03/16/2000 05:32 PM
To: Shannon Rodgers/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Re: Resume of Carla Di Castro

Shannon,

I realize that the program is full. If I find a group interested in her,
would you consider re-inviting her?

Vince

Shannon Rodgers
03/16/2000 01:52 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Resume of Carla Di Castro

Vince,

Thank you for forwarding the resume of Carla Di Castro.  Currently, our
Summer Associate Internship program is full.  I have responded to Carla to
inform her of the program's status.

Regards,
Shannon


Meredith wants a compact cd holder for her car for Christmas.


Arrive Tues 3/19 on AA #2656 @ 9:20a

Depart Thurs 3/21 on AA #2999 @ 3:42p

hotel:  Drury Plaza
	4th & Market St
	St. Louis, MO 63102

I have one dinner commitment on Tues night but it shouldn't last long.

Page # 888-582-7421
cell # 281-615-7061


In an effort to keep you informed of the progress at Enron Field, we have
organized monthly tours for all Executive Committee members.  These tours
will take place once a month, and will last approximately one hour.   We hope
that you will make time to tour the stadium, as it will provide you with the
opportunity to ask questions and experience the progress of Enron Field first
hand.

Please mark your calanders, as these tour dates have been confirmed with the
Astros and Brown & Root.  They are as follows:

- October 29, 1999
- December 3, 1999
- January 7, 2000
- February 4, 2000
- March 4, 1999

All tours are schedule for 4:00 p.m., and transportation will be provided for
you.  One week prior to each tour date, we will send a reminder with specific
details pertaining to each tour.  At that time, we will ask for confirmation
of your attendance - so we may handle all logistical issues with the
appropriate parties.

Again, we look forward to your attendance at these tours, as they promise to
be extremely informative.  If you have any questions, please let me know.

Thank you.

David Tagliarino (x3-7883)


----- Forwarded by Tana Jones/HOU/ECT on 05/14/2001 09:48 AM -----

	exchangeinfo@nymex.com
	05/04/2001 12:07 PM

		 To: tana.jones@enron.com
		 cc:
		 Subject: (01-147) Use of Letters of Credit, Certain Securities and
Deliverable Warehouse Receipts as Margin...

Notice # 01-147
May 4, 2001

TO:
All NYMEX and COMEX Members and Member Firms

FROM:
Neal L. Wolkoff, Executive Vice President

RE:
Use of Letters of Credit, Certain Securities and Deliverable Warehouse
Receipts as Margin  for NYMEX and COMEX Transactions

DATE:
May 4, 2001
===========================================================

! Please be advised that the NYMEX Board of Directors has approved changes to
NYMEX and COMEX Clearing Association rules, which have also been filed with
the CFTC, that expand the types of non-cash assets that customers may deposit
with their Clearing Members for margin purposes.

! Specifically, the rule changes, which are attached below, permit the use of
letters of credit, certain securities and deliverable warehouse receipts by
customers to meet their margin requirements. The rule changes provide for
consistent treatment in the use of such assets for both NYMEX and COMEX
Divisions.

! Letters of Credit.  As a result of the rule changes, letters of credit
(LCs) now will be allowed for customer margin on both divisions.

! Use of Letters of Credit on Pass-Through Basis.  In addition, the rule
changes allow letters of credit to be used on a &pass-through8 basis on both
divisions.  In other words, Clearing Members on both divisions will be able
to pledge to the applicable clearinghouse certain LCs posted by customers. It
should be noted that while securities and deliverable warehouse receipts, as
detailed below, may be used by customers for margin purposes, such assets may
not be used on a pass-through basis by a Clearing Member to meet its margin
obligations with the clearinghouse.

! Securities. Customers also will be able to deposit with their Clearing
Members certain types of securities as margin. The types of acceptable
securities are the kinds of securities that have been accepted for some time
on the COMEX Division.  Specifically, the rule changes will permit customers
to deposit the following types of securities as margin with Clearing Members
on either division:

securities listed for trading on the New York Stock Exchange, Inc. or the
American Stock Exchange, Inc., or which are traded in the over-the-counter
market approved for margin by the Board of Governors of the Federal Reserve
Board except that such securities must be free from liens and encumbrances;
can represent no more than 5% of the issued and outstanding shares of any one
issuer; and will be valued for purposes of margin at 75% of their market
value.

! Deliverable Warehouse Receipts. On both divisions, deliverable warehouse
receipts for any of the commodities traded on the Exchange will be accepted
as customer margin provided that such receipts will be valued as margin at no
more than 75% of the value of the commodity.

! Effective Date. These rule changes will go into effect on June 1, 2001.

! Exchange Form for Pass-Through Letters of Credit.  A follow-up Notice to
Clearing Members will be distributed shortly that will include a form
prepared by NYMEX that will serve as the authorized  uniform form for
irrevocable letters of credit for use on a pass-through basis at the Exchange
.

If you have any questions concerning this change, please contact Bernard
Purta, Senior Vice President, Regulatory Affairs and Operations, at (212)
299- 2380; Arthur McCoy, Vice President, Financial Surveillance Section,
NYMEX Compliance Department, at (212) 299-2928; or Joseph Sanguedolce,
Director, Financial Surveillance Section, NYMEX Compliance Department, at
(212) 299-2855,.

AMENDMENTS TO NYMEX RULE 4.01 (&CUSTOMER,S MARGINS8), NYMEX RULE 9.05
(&MARGINS8) AND TO COMEX CLEARING ASSOCIATION RULE 48 (&DEPOSIT OF SECURITIES
AND LETTERS OF CREDIT AS ORIGINAL MARGIN8)

(Asterisks indicate additions; brackets indicate deletions.)

Rule 4.01. CUSTOMER'S MARGINS

(A) Initial margin at least equal to the level set for customers shall be
required of all customers. In no case shall a customer's initial margin be
less than a specified amount per contract, or a specified percentage of the
market value at which any commodity is bought or sold, such customer's margin
to be determined and announced by the Board of Directors or its designee.

 (B) Once the required initial margin has been deposited for each individual
transaction, such trade and such margin shall, for the purposes of this rule,
lose their individual identity and be commingled with all other trades and
margins in the same commodity for the same customer account.

 (C) When the margin (Net Liquidating Value plus Non-Cash Deposits) in a
customer's account declines below the maintenance margin requirement
applicable to the open positions carried in such account, the Member Firm
carrying said account is required to collect (call) from the customer such
funds, which when deposited, will restore it to the then prevailing initial
margin requirement.

 (D) A Member Firm shall not accept orders for new trades on behalf of an
undermargined customer account other than those which reduce its initial
margin requirement unless such Member Firm has been given assurances by said
customer that funds sufficient to restore the account to its then prevailing
initial margin requirement are forthcoming and will be received in a
reasonable amount of time not to exceed one business day for Floor Members
and three business days for all other customers.

(E)(1) A Member Firm may accept deposits from its customers in one or more of
the following forms as margin to cover open NYMEX Division positions:

 (a) United States Currency; or any currency freely convertible to United
States currency; provided that if foreign currency is deposited, its value
shall be calculated so that at the current rate of exchange the U.S. dollar
equivalent of the foreign currency satisfies the customer's margin obligation.

 (b) securities issued by the Department of the Treasury of the United States
maturing within ten (10) years of the date of the deposit and guaranteed as
to principal and interest by the United States Government. Such securities
shall be valued at ninety five percent (95%) of par value.

*(c) securities which are listed for trading on the New York Stock Exchange,
Inc. or the American Stock Exchange, Inc., or which are traded in the
over-the-counter market approved for margin by the Board of Governors of the
Federal Reserve Board provided that such securities; (i) are free from liens
and encumbrances; (ii) represent no more than 5% of the issued and
outstanding shares of any one issuer; and (iii) are valued at 75% of the
market value thereof;

(d) a letter of credit in favor of a clearing member carrying an account, or
in the case of any letter or credit to be used on a pass-through basis with
the Clearing House a letter of credit in favor of the Exchange.  All letters
of credit shall be issued in such form as may be prescribed by the Exchange
and by a depository which has been approved by the Exchange for issuance and
confirmation of letters of credit drawn in favor of the Clearing Members or
in favor of the Exchange, as applicable.

(e) deliverable warehouse receipts for commodities traded on the Exchange
provided that such receipts will be valued as margin at no more than 75% of
the value of the commodity.*

[(c)] *(f)* The net liquidating value in a customer's account over the
initial margin requirements for the positions carried for such account.

(2) A Member Firm may accept deposits from its customers in one or more of
the following forms as margin to cover open COMEX Division positions:

(a) United States currency, checks payable in United States currency, or
currency freely convertible to United States currency; provided that if
foreign currency is deposited, its value shall be calculated so that at the
current rate of exchange the U.S. dollar equivalent of the foreign currency
satisfies the customer's margin obligations;

(b) the net liquidating value in a customer's account over the initial margin
requirements for the positions carried for such account;

(c) securities issued or guaranteed by the United States, provided that such
securities shall be valued at the lower of the par or market value thereof;

(d) securities which are listed for trading on the New York Stock Exchange,
Inc. or the American Stock Exchange, Inc., or which are traded in the
over-the-counter market approved for margin by the Board of Governors of the
Federal Reserve Board provided that such securities; (i) are free from liens
and encumbrances; (ii) represent no more than 5% of the issued and
outstanding shares of any one issuer; and (iii) are valued at 75% of the
market value thereof;

(e) *deliverable* warehouse receipts *for commodities traded on the Exchange
provided that such receipts will be valued as margin at no more than 75% of
the value of the commodity*; [provided that such warehouse receipts shall be
valued in accordance with the following:

(i) if the warehouse receipt is for a deliverable grade of the commodity
underlying either the futures contract sold or the futures contract which is
the subject of the call options sold, not more than 90% of the value of the
commodity may be considered as margin; and;

(ii) if the warehouse receipt is for a deliverable grade of the futures
contract purchased or the put options sold, not more than 75% of the value of
the commodity may be considered as margin; and;

(iii) if the warehouse receipt is for either: (A) deliverable grade of a
commodity other than the commodity underlying the futures contract or option
to be margined; or (B) a form of silver or gold not deliverable under a
futures contract, then not more than 75% of the value of the warehouse
receipt may be considered as margin.]

(f) physical commodities (but not forward contracts therefor) if the carrying
member is in possession and control of negotiable documents covering such
commodities, provided, however, that the value of such commodities shall be
based upon the contract market price for the grade of such commodity or if
the commodity is not of a grade deliverable on a contract market, then at the
price for the grade of such commodity on the spot market;

(g) a letter of credit in favor of a clearing member carrying an account*, or
in the case of any letter or credit to be used on a pass-through basis with
the Clearing House a letter of credit in favor of the Exchange.  All letters
of credit shall be* issued in such form as may be prescribed by the Exchange
and by a depository which has been approved by the Exchange for issuance and
confirmation of letters of credit drawn in favor of the Clearing Members *or
in favor of the Exchange, as applicable.*

 (3) Calls issued by Member Firms for additional margin from customers may
only be met by: deposits conforming to the requirements of Rule 4.01(E)(1)
for open NYMEX Division positions, or conforming to the requirements of Rule
4.01(E)(2) for open COMEX Division positions, or, for open positions on
either division of the Exchange, favorable market movements which, when taken
into consideration and combined with any other monies available, enable the
customer's margin to equal or exceed the then prevailing initial margin
requirement.

 (F) Withdrawals of margin from a customer's account may only be permitted by
a Member Firm carrying such account if the remaining funds in such account
are equal to or in excess of the then prevailing initial margin required of
the applicable open positions at the time of said withdrawal request.

(G) The customer's response to a margin call issued by a Member Firm must be
timely and complete. A Member Firm may call, at any time, for margins above
and beyond the minimums required by the Exchange. A Member Firm may liquidate
any or all positions maintained by a customer for failure to meet a margin
call. The customer will be liable for any loss or deficiency resulting
therefrom.

 (H) The margin requirements established by the Board or its designee may
vary for different commodities and may be changed from time to time by the
Board or its designee, and in the discretion of the Board or its designee,
may be made applicable to all open trades as well as new trades.

 (I) Arbitrage

(1) For the purposes of Exchange margin requirements, an arbitrage position
is a purchase or sale of an Exchange futures contract in one delivery month
which futures contract is offset by a futures contract to sell or to purchase
a similar quantity of a related commodity in the same or different delivery
month which offsetting futures contract is executed on or subject to the
rules of a different exchange. In order to qualify as an arbitrage position,
each contract long and short must be carried by the same member firm for the
same account.

(2) The Board of Directors, by resolution, may identify those futures
contracts, that are executable on and/or subject to the rules of a different
exchange, which shall be deemed to qualify as part of an arbitrage position.

(3) The Board of Directors or its designee may set levels of margin for
arbitrage positions at a rate less than applicable to outright positions;
provided, however, that except for interdivision straddles, no such rate
shall be lower than the rates established for clearing members' margins.

Rule 9.05. MARGINS

* * * *
(E) Clearing Members may meet original margin calls by depositing:

(1) Cash (U.S. Currency);

(2) Original Margin Certificates issued by an original margin depository, in
form acceptable to the Clearing House, for delivery to the order of the
Clearing House, representing securities issued by the Department of Treasury
of the United States of America maturing within ten (10) years from the date
of the deposit and guaranteed as to principal and interest by the United
States Government; such securities shall be valued at ninety five percent
(95%) of the par value; or

(3) Subject to a maximum limit of 50% of the Clearing Member's total original
margin obligations, Irrevocable Letters of Credit payable to the order of the
Clearing House *including such Letters of Credit that are deposited with the
Clearing Member in accordance with Exchange procedures by a customer*, in
form acceptable to the Clearing House, issued by or confirmed by an original
margin depository and having an expiration date of not less than three (3) or
more than eighteen (18) months from the date of issuance; provided, however,
that such Letter of Credit may not be used to meet original margin
obligations during the fifteen calendar days prior to the expiration date
thereof (if the fifteenth day prior to the expiration of the Letter of Credit
is not a business day, the period during which such Letter of Credit may not
be used to meet original margin obligations shall begin on the business day
immediately preceding that day); and, provided further, that on the business
d!
ay!
 preceding the fifteenth calendar day prior to the expiration of the Letter
of Credit, the Clearing House shall issue a call for original margin to be
deposited in a form and manner acceptable to the Clearing House for positions
held open as of the close of business on that day and margined by the Letter
of Credit. The Clearing House shall have the unqualified right to call on any
Letter of Credit at any time prior to expiration.

CCA Rule 48. DEPOSIT OF SECURITIES AND LETTERS OF CREDIT A ORIGINAL MARGIN

* * * *
(b) Irrevocable Letters of Credit.

(i) The Corporation will accept as original margin for the full face amount
thereof a letter of credit in favor of the Corporation issued by any
institution selected by the depositor *including such Letters of Credit in
favor of the Corporation that are deposited with the Clearing Member in
accordance with Exchange procedures by a customer*, provided that

(A) such  institution has been approved by the Board as an approved
depository or such institution is organized under the laws of the United
States or the laws of any state and the letter of credit issued by such
institution has been confirmed by an approved depository;
(B) that the aggregate amount of letters of credit which may be accepted at
any time from any one approved depository, or for the account of any one
Clearing Member may be limited by the Board from time to time;
(C) that a letter of credit issued on behalf of a Clearing Member by an
institution which is an affiliated firm of such Clearing Member must be
confirmed by an institution which is not an affiliated firm of such Clearing
Member; and
(D) such letter of credit shall be in form and substance approved by the
Board and shall be in such denominations as may be determined by the Board
from time to time; shall be irrevocable, shall be available to be drawn upon
by the Corporation by  a clean sight draft(s) or written demand(s) and shall
run for a period of not less than ninety (90) days from the date of issue.

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

"
http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdoc
=(01-147)"

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


Start Date: 1/3/02; HourAhead hour: 10;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010310.txt


---------------------- Forwarded by Terence H Thorn/ENRON_DEVELOPMENT on
01/29/2000 01:08 PM ---------------------------

	Enron International

	From:  John Hardy                           01/19/2000 01:00 PM

Sent by: Helen Rizzo
To: Terence H Thorn/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Steven J Kean@EES

Subject: MAJOR ACTIVITIES AS OF 1/14/00

Attached are major activities for the Washington Finance/Project Support
Office as of January 14, 2000.


When do you leave next week?

Kay


I just spoke with Jesse Bryson in Real Time, and he said this should actually
be 2 buy-resales - one from Four Corners to ZP-26, and one from ZP-26 to
NP-15. Let me know how that sounds to you, and I'll enter the deals.

Thanks,
Kate

Rhonda L Denton
04/24/2001 03:23 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 581368

Should this be NCPA, since we do not have transmission with them.  Or maybe
it should be a buy/resale.  let me know.  Thanks.


I may have mentioned this (too much going on!) but they both did agree to sign. Jeff A. contacted Masha yesterday, took her by surprise...wanted to know if he was the target etc., advised her not to visit with him.

-----Original Message-----
From: Cash, Michelle
Sent: Monday, November 12, 2001 9:39 PM
To: Seleznov, Ryan
Subject: RE: Statement
Sensitivity: Confidential

Ryan,

The content on this looks good.

Style idea -- would it make sense for it to be in the first person -- for them to sign as a statement, instead of in second person as stated by you?  Does that make sense?  That way, they would "own" the statement when they sign it.

What do you think?

Michelle

-----Original Message-----
From: Seleznov, Ryan
Sent: Mon 11/12/2001 5:07 PM
To: Cash, Michelle
Cc:
Subject: Statement

Here's a first pass....

<<EGM-Statement.doc>>


Hello,

I am applying for the position of client support analyst posted on the Headhunter website.

Please see my resume below:

Monika Causholli
2240 North Boulevard #5205
Houston, Texas 77098
                      (713) 807-1039
mcausholli@hotmail.com
EDUCATION
BS in Financial Services/Business Administration, Oregon State University, Corvallis, Oregon
Overall GPA 3.91/4.00. Minor: Political Science/International Affairs.

WORK EXPERIENCE

                Financial Analyst/Researcher                Enron North America/Industrial Markets
                                                                                Houston, TX 6/01- Present

?	Analyzed the financial condition of pulp and paper companies by carefully reading through their financial statements and drawing the conclusion of their financial health. Based on the results of the analysis, prepared company reports for the origination team.
?	Supported the team of originators and traders by gathering data on the pulp market, preparing presentations, doing analysis on the prices and other market variables. Wrote a weekly newsletter with the most important information that included a market commentary. Built and completed the spreadsheets that contain all the market data for pulp. The spreadsheets helped the spot/financial traders to evaluate market conditions and make trading decisions.

               Real Time Trader/Analyst                     Enron North America
                                                                                Portland, Oregon 6/00-6/01

?	Researched the variables that affect the hourly electricity market including temperatures, planned and forced outages of generating units, loads and CISO expost prices resulting in an informed opinion about that day's trading options.
?	Looked for opportunities to create value based on the research. Raised up to $100,000 a day by following the market closely, taking advantage of the arbitrage opportunities between the different markets, and making use of transmission available to send power to various points.
?	Ran the El Paso Electric Utility during the off peak hours and weekends by matching the load (demand) with the supply and making the necessary decisions to run the system reliably by following the WSCC requirements on spin and nonspin requirements.

               Summer Intern                                       Enron Capital & Trade
              Analyst Program	                       Portland, Oregon 6/99-9/99

?	Researched and graphed the historical temperatures for the Pacific Northwest, the Desert Southwest, and Rocky mountain and tried to find the correlation between the temperatures and energy load (demand).
?	Co-designed the load-forecasting model for the Pacific Northwest, Desert Southwest and Rocky Mountains in a course of three months.
?	Compiled the daily information for the term and cash traders including the historical temperatures graphs for California, daily forecasted load, and gas prices.

             Financial Analyst 		         Edicom sh.p.k.
             Assistant		                       Tirana, Albania 6/98-9/98

?	Calculated revenues, expenses, interest payments and cash flows for over ten investment projects including apartment buildings and a business center.
?	Translated business letters including memos and proposals from Italian/Albanian to English.

COMPUTER SKILLS
 Software: Proficient in MS Word, PowerPoint, and Excel

FOREIGN LANGUAGES
Albanian    Native Fluency
Italian    Near-Native Fluency

MAIN STRENGTHS:  Good analytical skills, detail oriented, a hard-worker, ambitious, a fast-learner, good writing skills, enthusiastic.


Start Date: 10/20/01; HourAhead hour: 8;  HourAhead schedule download failed. Manual intervention required.

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andy,
are you still at enron?
--- Andrew.H.Lewis@enron.com wrote:
>
> Hey Eva,
>
> Got your message, was waiting for you to write more.
>  I'll have to check
> with Sandra, but I haven't heard her say if she got
> your postcards.
>
> Robin came back from her honeymoon and you can't
> tell when she's blushing
> she's so red.
>
> The last two AGA's have been great.  One was a 40
> cent move and the other
> was 20 cents (what's better than Wednesdays?).
>
> That's it for now.
>
> Must go see Suey.
>
> - Big Lew
>

__________________________________________________
Do You Yahoo!?
Send FREE video emails in Yahoo! Mail!
http://promo.yahoo.com/videomail/


----- Forwarded by Miyung Buster/ENRON_DEVELOPMENT on 10/05/2000 01:04 PM
-----

	djcustomclips@djinteractive.com
	10/02/2000 11:31 AM
	Please respond to nobody

		 To: 86464@WCTOPICS.djnr.com
		 cc:
		 Subject: Utilities, Electric: Deregulation: California Governor Contemplates
Bill to Reduce ...

California Governor Contemplates Bill to Reduce Electricity Prices
Janet Lavelle
?
09/29/2000
KRTBN Knight-Ridder Tribune Business News: North County Times - Escondido,
California
Copyright (C) 2000 KRTBN Knight Ridder Tribune Business News; Source: World
Reporter (TM)

A bill that could give a $150 million bailout to San Diego Gas & Electric
Co.'s 1.2 million customers if they're hit with high electric bills in a
couple of years is awaiting Gov. Gray Davis' signature.

Davis has until midnight Saturday to decide the fate of Assembly Bill 1156,
the only one of a trio of bills the governor hasn't signed that were designed
to cut electricity rates for SDGOcustomers faced with skyrocketing power
bills in the summer.

SDGOcustomers saw their electric bills double and sometimes triple between
June and August as soaring wholesale electricity rates were passed on to them.

Two years ago, San Diego became the first region in California to fall under
a new electricity deregulation law, and the summer's wildly fluctuating
wholesale power market was an unanticipated outcome.

Three weeks ago, Davis signed Assembly Bill 265, which capped retail electric
rates SDGOcould charge its customers at 6.5 cents per kilowatt hour,
retroactive to June 1 and extending to January 2002.

The rate cap rescues SDGOcustomers, at least temporarily, from paying the
wholesale price that soared as high as 19 cents per kilowatt hour this summer.

Davis also signed Assembly Bill 970, which shortened the construction
permitting process for some new power plants.

The third bill, AB 1156, now on the governor's desk, would set aside $150
million in state funds to protect SDGOcustomers from high electric bills
after the rate cap ends.

The money would be used so ratepayers won't be solely responsible for paying
down any debt SDGOincurs if the company has to buy wholesale power at a
higher rate than the 6.5 cents it can charge its customers.

The three bills were passed in the final hours of the Legislature's chaotic
session and only after long days of deal-making between Democrats and
Republicans.

Davis quickly signed the first two bills but set aside AB 1156, which
Republican lawmakers had demanded in return for their votes in favor of the
rate cap Democrats wanted.

When AB 1156 was written a month ago, the governor told some lawmakers he
wouldn't sign it. Since then, Davis has been tight-lipped on the issue.

Only the governor's veto can kill AB 1156, though. It will become law if
Davis either signs the bill or leaves it unsigned.

"I don't know what he's going to do, but if he were going to sign it, he
would have done it by now because he's signed the other two bills," said Sen.
David Kelley, R-Idyllwild. Kelley co-sponsored the bill in the Senate.

Kelley said he suspected the governor is considering vetoing the bill because
it would set a precedent for 2003, when Pacific Gas&Electric and Southern
California Edison Co. fall under the deregulation law and start charging
their customers market electricity rates.

"I haven't heard anything," said Assemblywoman Denise Ducheny, D-National
City, the author of the bill.

Ducheny said representatives from Pacific Gas&Electric and Southern
California Edison were in the Capitol on Wednesday, and she agreed with
Kelley that the governor is probably weighing whether he wants to set a
precedent.

"I still think it's right to give people a safety net and assure them the
state is willing to help so the rates don't adversely effect the economy,"
Ducheny said.

"I hope the governor does decide to sign the bill," Sempra Energy President
Stephen Baum said Thursday. Sempra Energy is the parent company of SDG&E.

Baum opposes the 6.5-cent cap and said the company will have to borrow money
to pay the difference between retail and wholesale prices.

His company estimates a so-called "balancing account" that tracks the cost
will reach $300 million into the red by the end of November and could be $600
million by January 2002.

Baum blamed the wildly fluctuating wholesale prices on a badly written
electrical deregulation law the Legislature unanimously approved in 1996. He
said it was reasonable to expect the state to share in the resulting costs.

As he has done repeatedly in the past few weeks, Baum said he regretted not
signing long-term contracts with electricity suppliers to lock in lower
prices. He said he expects that the Public Utility Commission may force his
company to absorb some of any debt because of its failure to sign a contract.

"I think he'll veto it; it's a dumb law," consumer advocate Michael Shames
said. "And the only ones who support it are Sempra and the Republicans."

His organization, Utility Consumers' Action Network, considers the bailout
"premature."

No one knows how much money SDGOmay owe once the rate cap is lifted, and
Shames thinks it won't be much.

"I liken (AB 1156) to getting a check from the insurance company before the
estimators come out to calculate the cost of the damage," Shames said.

Shames said SDGOcould end up with little owing in its balancing account
because some of the expenses will be offset by revenues the company makes
selling power from San Onofre Nuclear Generating Station.

Reliant Energy has offered SDGOa two-year contract to buy electricity at 5.6
cents, Shames noted.

"If SDGOsigned the contract, the balancing account wouldn't grow," he said.

Staff writer Dan McSwain contributed to this story.

Folder Name: Utilities, Electric: Deregulation
Relevance Score on Scale of 100: 96

______________________________________________________________________
To review or revise your folder, visit Dow Jones CustomClips or contact Dow
Jones Customer  Service by e-mail at custom.news@bis.dowjones.com or by phone
at 800-369-7466. (Outside the U.S. and  Canada, call 609-452-1511 or contact
your local sales representative.)
______________________________________________________________________
Copyright (c) 2000 Dow Jones &Company, Inc. All Rights Reserved


Tony,

Thanks. What time would be convenient for you on April the 22nd?

Vince

Anthony_Mends@enron.net on 04/19/2000 12:23:16 PM
To: Vince_J_Kaminski@ECT.enron.net
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: Directions to my House

Vince,
Please find attached directions to my house. We are eagerly looking forward to
your visit.
Tony.
(See attached file: Directions to my house.doc)
Anthony Mends
Enron Broadband Services
713-853-3939

 - Directions to my house.doc


Larry, I want to know if you did not get the response you needed.  Thanks. Lynn

From:	Larry Berger/ENRON@enronXgate on 06/15/2001 02:06 PM
To:	Larry Berger/ENRON@enronXgate, Jean Adams/ET&S/Enron@ENRON, Robert Benningfield/ET&S/Enron@ENRON, Jean Blair/ET&S/Enron@ENRON, Randy Bryan/ET&S/Enron@ENRON, Nancy Callans/ET&S/Enron@ENRON, James Carr/ET&S/Enron@ENRON, Tangie Dykes/ET&S/Enron@ENRON, Sherry Forbish/ET&S/Enron@ENRON, Chris Greaney/ET&S/Enron@ENRON, Randy Janzen/ET&S/Enron@ENRON, Joe Linhart/ET&S/Enron@ENRON, Janet McDaniel/ET&S/Enron@ENRON, Katherine Perry/ET&S/Enron@ENRON, Diana Porter/ET&S/Enron@ENRON, Debra Scurlock/ET&S/Enron@ENRON, Kathy Sturr/ET&S/Enron@ENRON, Shirley Walden/ET&S/Enron@ENRON, Kathy Washington/ET&S/Enron@ENRON, Jerry Wilkens/ET&S/Enron@ENRON, Harry Woodson/ET&S/Enron@ENRON
cc:	Rick Dietz/ENRON@enronXgate, Lynn Blair/ET&S/Enron@ENRON, Raetta Zadow/ET&S/Enron@ENRON

Subject:	Update NNG Doc System by Tuesday, June 19th

The NNG Doc System is now open and  ready for your updates on OBA imbalances.  Please input your updates before Tuesday, June 19th, 5pm.

The reason for the short timeframe is due to the WINDOWS 2000 upgrades on the nights of June 19 & 20 and the unavailability of the DOC system during this time.

Please see me if you have any questions.

Larry


PLEASE do not overreact, but I want you to have this information.  Hang in there everyone.

Jeff
 -----Original Message-----
From: 	Zavala, Cristina   On Behalf Of Parquet, David
Sent:	Thursday, November 01, 2001 12:13 PM
To:	Alamo, Joseph; barr, anthony; Brodbeck, Kelly; Browner, Victor; Calvert, Gray; Carranza, Octavio; Danielson, Michael; Dasovich, Jeff; Deane, Ryan; Dyer, Laird; Fillinger, Mark; Fukada, Cary; Ha, Vicky; Hrach, April; Kelly, Derek; Kromer, Steve; Ly, Aandy; Mara, Susan; Mcdonald, Michael; Mentan, Ronald; O'Neal, Aida; Parquet, David; Perrino, Dave; Petrochko, Mona L.; Qureishi, Ibrahim; Russell, Dean; Schoen, Mary; Sezgen, Osman; Tully, Mark; Turnipseed, Edith; Wehn, Samuel; Wong, Michael; Yee, Dennis; Zavala, Cristina
Subject:	FW: FBI information regarding possible terrorist threat on West Coast (IMPORTANT)

Hello Everyone,

We just received the following e-mail and wanted to make everyone aware of the information.

Please if you have any questions or concerns, contact Cristina Zavala at 415-782-7819.

Thank you,

Cristina Zavala

 -----Original Message-----
From: 	Ewald, Laura
Sent:	Thursday, November 01, 2001 9:51 AM
To:	Horton, Stanley; Lowry, Phil; Keller, John R.; Hawkins, Don; Martin, Jerry D.; Rice, Randy; Shafer, John; Pribble, Dan; Nelson, Mike; Craig, Rick; Parquet, David; Hrach, April; Mosier, Denny; Haas, Daniel; Umanoff, Adam; Belden, Tim; Calger, Christopher F.; Hartmann, John
Cc:	Kean, Steven J.; Brindle, John; Cromley, David; Norosky, Kyle
Subject:	FBI information regarding possible terrorist threat on West Coast

Enron Corp. Business Controls/Corporate Security received the following information via the National Threat Warning system.  While we do not wish to unduly alarm employees, the specificity of the information dictated immediate dissemination to our West Coast offices.

Managers - please share this information with your employees as you deem appropriate.  If you have any questions/concerns, please do not hesitate to contact Corporate Security at (713) 345-2804.

THE FBI IS IN POSSESSION OF UNCORROBORATED INFORMATION INDICATING THE
POSSIBILITY OF ADDITIONAL TERRORIST ATTACKS AGAINST THE UNITED STATES,
SPECIFICALLY THE WEST COAST.  REPORTEDLY, UNSPECIFIED GROUPS ARE
TARGETING SUSPENSION BRIDGES ON THE WEST COAST.  SIX INCIDENTS ARE TO
TAKE PLACE DURING RUSH HOUR BEGINNING FRIDAY, NOVEMBER 2 AND CONTINUING
THROUGH NOVEMBER 7, 2001.

NO FURTHER INFORMATION ABOUT THIS ALLEGED ATTACK IS KNOWN AT THIS TIME.
THE FBI IS ATTEMPTING TO VERIFY THE VALIDITY OF THIS REPORT.  RECIPIENTS
WILL BE UPDATED AS EVENTS WARRANT.

RECIPIENTS WHO RECEIVE OR DEVELOP INFORMATION RELATED TO THIS MATTER
SHOULD IMMEDIATELY CONTACT THEIR LOCAL FBI OFFICE.

We will keep you apprised if we receive any further information.

Thank you.


The Bankruptcy 101 sessions taking place next week in 5C2 are full.  However, due to the high interest level, we will schedule more in the future.


Marcus will not be in today.  The doctor is inducing labor and he is with
Louise at the hospital.

He said he will call me with any updates so I will let you know when I hear
something.


Attached are revised commodity swap confirms.  I didn't change the rate swap
and we're still waiting for input from the bank.


Was it a car wreck?  That is so sad.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


-----Original Message-----
From:  Andrzej_Kabarowski@cargill.com@ENRON
[mailto:IMCEANOTES-Andrzej+5FKabarowski+40cargill+2Ecom+40ENRON@ENRON.com]
Sent: Tuesday, May 01, 2001 1:19 PM
To: Sacks, Edward; Andrzej_Kabarowski@cargill.com
Subject: PCGs between Enron N.A. and Cargill-Alliant

I am attaching the latest versions.  Most of the additional changes
were accepted in an attempt to get these executed asap, particularly as
I have been out of town the last week or so.  We did change payment
back to 10 days as this is essentially where our corporate treasury is
confident it can process such claims in a prudent manner.  I hope this
is not a deal breaker.  We did ultimately accept your Enron affiliate
set off language in your PCG to us, although we do not have such
language in our PCG to you.

Please reflect on the latest status.  I believe we do have a document
that we can both execute.  If your lawyers still have questions let me
know so I can refer them to our legal counsel if necessary.

Thank you and best regards

=============================
Andrzej Kabarowski
WW Credit Manager
Global Petroleum Trading
NatGas/Electricity Trading
CRMPG
-----------------------------
Tel: 952-984 3664
Fax: 952-984 3763
=============================

 - ECTRcapcg1.doc
 - ECTRcglpcg1.doc


Click on the Weekly Report for week ending December 8, 2000.

Weekly Report


Just fyi, I'm trying to find any email traffic I received as it relates to Duran's inferences. So far, this is the only one I could find. No action needed on your side, just wanted you to see what I have seen on my end.

Also, I met with  Mark Bernstein yesterday to discuss a few deals and he went through the "Wholesale PPA restructuring " that Duran referred to in the PRC. It sounds like we didn't hear the whole story at all, because Mark walked me through the  agreement with Dave Duran specifically on this deal since it included both retail and wholesale aspects to it, and Dave wanted Mark Bernstein's specific involvement since Mark originated it in the first place. They even agreed to work together and if a deal was consummated, they would split the resulting earnings 50/50 between the groups. I was not at all aware of this, but am very disappointed in Duran's use of partial information in the PRC. The more I am looking into the "noise" issue, the more I feel like it was unjustly used in the PRC.

Again, no need to act on any of this, I just want to be sure you and John and Dave and I are communicating more on this stuff. I'll ask Kay to see if she can get lunch scheduled for us next week.

Thanks.
---------------------- Forwarded by Janet R Dietrich/HOU/EES on 07/31/2001 12:34 PM ---------------------------

Mark Bernstein
07/31/2001 11:09 AM
To:	Janet R Dietrich/HOU/EES@EES
cc:
Subject:	NU EES-ENA Coordination

Hi Janet,

Per your request.

thanks,

Mark
3-7516
---------------------- Forwarded by Mark Bernstein/HOU/EES on 07/31/2001 11:08 AM ---------------------------

Mark Bernstein
07/02/2001 04:25 PM
To:	John Llodra/Enron@EnronXGate
cc:	David W Delainey/HOU/EES@EES, Janet R Dietrich/HOU/EES@EES, Mark S Muller/HOU/EES@EES, Jeff Ader/HOU/EES@EES, W David Duran/Enron@EnronXGate, Mark Bernstein/HOU/EES@EES
Subject:	NU EES-ENA Coordination

Hi John,

Tonight, I am sending you the material we receive from NU regarding their market based contracts via Fedex (#802432049929). The market based contracts constitute NU's  obligations (350MW) to serve Municipalities as a part of their standard offer obligation, which is currently served by Select. This is a wholesale opportunity that we came across during our discussions with NU regarding customer access, green power contracts and other retail opportunities. NU is very interested in the retail transaction and has taken the initiative to bring it to closure.  Confidentiality agreements have been signed, information has been exchanged and we are pricing and discussing strategies for regulatory approvals. It is imperative that NU is not confused or distracted at this time from the transaction at hand by the many different directions that Enron can sometimes pull customers. I am sure that you will be most sensitive in your discussion with NU this week and limit them to only those opportunities that are not mutually exclusive to the retail transaction we are working on. Especially in light of our recent customer access success with National Grid (Mass. Electric), NU is key to keeping the momentum going. Good luck with the market based contracts and lets make sure we over-communicate so that NU is not caught in the middle.

Thanks,

Mark
3-7516


No new deals for central desk since bid week.
PL


Russell:

I just received a call from the lawyer for Florida Power & Light Company, the
regulated utility.  He told me that he was sending over ISDA documents for
FPL Energy, the unregulated trading arm of the utility.  Will you be handling
credit on this one?  Sara

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


Good luck John.   I appreciate your praise and wish you success in your future professional endeavors.

 -----Original Message-----
From: 	Berger, John
Sent:	Friday, August 17, 2001 3:48 PM
To:	Golden, Jeff; Fallon, Jim; Enochs, Fred; Bucknell, Martin; Bentley, Corry; Harman, Chris; Karbarz, Frank; Suresh Vasan/Enron Communications@Enron Communications; Wang, Kenneth; Woulfe, Greg; Zufferli, John; Muller, Mark; Vicens, Carlos; Capestany, Mari; Daniel Diamond/HOU/EES@EES; Dietrich, Janet; Vann, Suzanne; Boutcher, Michael; Hernandez, George; Gilbert-smith, Doug; Herndon, Rogers; Delainey, David; Williams, Devon; Williams, Jimmie; Santikos, Mark; Podurgiel, Laura; Clynes, Terri; Baughman, Edward D.; Frazier, Lamar; Frank, Robert; Suarez, John; Marshall, Lucy; Street, Karen; Schoen, Mary; Schoen, Mary; Siegel, Misha; Presto, Kevin M.; Lavorato, John; Will, Lloyd; Melvin, Eric; Neff, Brandon; Kiehne, Sean
Subject:	Good Bye

As most of you already know I am leaving Enron after five years to go to Harvard MBA School.  My times at Enron have been beyond the expectations that I had when I stepped into trading hourly power at odd hours of the night  when  I first became an Enron analyst.  Since the very beginning, Enron has given me the chance to demonstrate my talents and the chance to prove myself.  No other company would have given those chances at such a young age.  I like to think that I repaid the favor to at least some degree and am leaving Enron a little stronger than it would have otherwise been.

Even though I contemplated several other opportunities to leave over the last five years, I never left for another company.  I came to realize that the people that work here are the best, and I have always strived to be among the best.  Aside from the professional skills and energy, the people here have become good friends of mine.   Enron is among the best corporations in the world because of the high quality of people that we have attracted over the years.

Special thanks to Jim Fallon, Jeff Golden, Mark Muller, Dave Delainey, Kevin Presto, and Rogers Herndon, all of  whom have provided me direction and excellent leadership during my time here.

Please find my forwarding email address, phone numbers, and address.  If any of you need anything or come to Boston please look me up, I will always buy the first beer!  Good luck to you all.

Your friend,

John

John Berger
520 Beacon Apt. 2F
Boston, MA 02115

617-424-7141 HM
713-417-3548 Cell
wberger@mba2003.hbs.edu


marilyn king
6460 Leona St
Oakland, CA 94605
olympianmk@al.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 dealin
marilyn king


I wanted to say I really enjoyed our visit as well.  It has been a long time since I have set
down and just visited with friends.  Jane, thanks for taking the intiative to make this happen.
I agree, we need to do this again.  Tell Amanda, Seth and Kirby "hi" for me.  Thanks. Lynn

From:	Gina Taylor/ENRON@enronXgate on 06/12/2001 02:25 PM
To:	Jane Joyce/ENRON@enronXgate, Lynn Blair/ET&S/Enron@ENRON
cc:

Subject:	Thanks for the Visit

Lynn and Jane,

I really enjoyed our visit last night.  Thanks so much for taking the time to come see us and meet Seth.  Amanda woke up talking about you both!

Thanks again and let's get together...soon!

Gina


Mark,
Following up on my earlier voicemail, here is my risk memo for the Saguaro transaction (also sending by fax).  I anticipate that the DASH will be circulated tomorrow (Friday), which I will initial and fax to you when completed.

Please call if you have questions.

Regards,
Karen


Greg,

1.  We can include the sithe agreement in the master netting agreement although we do not believe that this will work for Dynegy as it is not a forward contract but an annuity stream which cannot be accelerated, however if they think it works - fine.  We would not want the margin calculated net (it needs to be exclusive of this transaction).  If they were to convert to two swaps in order to allow for acceleration in the master netting agreement, there is an accounting issue for us.

2.  In the East we are long physical power from them in the markets which are not pools.  We are short to them in the pools which clear financially and we have no issues in the pools.  So we do not need to do anything.  I'll have the west soon.

3.  We will have our physical gas position by point soon.  We will agree to prepay for all of Dec but we should only pay day by day.


Please schedule a meeting with Caroline about her needs

---------------------- Forwarded by Hunter S Shively/HOU/ECT on 01/02/2001
04:58 PM ---------------------------

Chris Gaskill@ENRON
12/27/2000 04:31 PM
To: Hunter S Shively/HOU/ECT@ECT
cc:
Subject: RE: New York Office Requests

Hunter,

I wanted your opinion on how to respond to the following e-mail.  It sounds
like Caroline Abramo is sharing some of Mike's research and the Fundamentals
research with some of the hedge funds.  Do we want to keep sending her the
information or limit it to certain pieces of research.  Do we make any/enough
money off of their business to provide them with our internal research?  I
have told her in the past that the quarterly production numbers that we
provide are for internal use only, but it sounds like some of the information
is going outside of Enron.  Let me know what you think.

Chris
---------------------- Forwarded by Chris Gaskill/Corp/Enron on 12/27/2000
04:29 PM ---------------------------

Caroline Abramo
12/26/2000 04:21 PM
To: Chris Gaskill/Corp/Enron@Enron
cc: Jennifer Fraser/HOU/ECT@ECT, Per Sekse/NY/ECT@ECT, Vikas
Dwivedi/NA/Enron@Enron

Subject: RE: industrials

Chris - this is feedback on Elena's sheets - the ones she puts together as
part of Mike Robert's Monday package.  I think they have real potential to be
very valuable but we could use a bit more digging on them- the feedback is
from Dwight Anderson at Tudor who has been in the commodity markets for years
and who has a very fundamental approach to his positions- one of his major
tenants is that industrials (chemicals) can not produce at above $7 gas - he
has done in-depth analysis of this and probably has a number in mind for how
much comes onto the market at these levels- I will try to ascertain. He also
wholeheartedly believes that more production will come in 02 and will see
prices go below current levels- I know Sachin is working on the production
numbers- it would like to see us project these out a bit further and have the
historical production data as well - in order to see how extreme the changes
in production have been.

The info that the funds share with us is very privileged - we generally do
not share it with many people- I'd like to include you on discussions so that
we can help them with their views as well as ours to bang out better trading
strategies

Unfortunately, I have not been able to get into the fundamental site in NY
but I am working on it.  I am sure a lot of this info is up there.

Rgds,
CA
212 702 3910

---------------------- Forwarded by Caroline Abramo/Corp/Enron on 12/26/2000
04:33 PM ---------------------------

Dwight Anderson <Dwight.Anderson@tudor.com> on 12/22/2000 06:32:54 PM
To: "'Caroline.Abramo@enron.com'" <Caroline.Abramo@enron.com>
cc:

Subject: RE: industrials

what do the ally cutbacks mean in mcf per day
what is the impact of the integrated steel plants running at 70% of capacity
(number released weekly) mean to power demand and hence demand for nat gas
what is going on re. nat gas liquids being stripped out? i.e. dynegy and
mitchell etc. have all announced full or partial closures of stripping
facilities as economics aren't there.  someone shld be tracking what this
means in mcf per day
why won't utilities give you utilization of plants by fuel type, as they do
in nuclear, so you can track power demand by fuel type
how much nat gas demand is being lost cuz nat gas ethylene producers have
shut down as margins are too low vs. their naptha based competitors.  etc.
etc.
where do we stand on switching vs. resid, diesel etc. etc.

i could go on, but i think i've made my point; what is in the report is
good, but it's incomplete and not totaled with some summary conclusions.
it's only the very easy, first derivative demands/closures.  it could add
real value by looking for alternative data points that aren't as easily
tracked by the market.

-----Original Message-----
From: Caroline.Abramo@enron.com [mailto:Caroline.Abramo@enron.com]
Sent: Friday, December 22, 2000 11:04 AM
To: Dwight.Anderson@tudor.com
Subject: industrials

D- not sure if we ever showed this to you- once a week we update all the
plant closures for ammonia, methanol, and aluminium smelters and the
resulting gas and power that's back on the market.  these pages are in back
of the weather.  please let me know what you think of these- elena, our
analyst in houston is always looking for feedback which is hard to get
because the report only circulates internally.

(See attached file: EnronWx121800.pdf)


Great minds....

---------------------- Forwarded by Susan M Scott/HOU/ECT on 11/29/2000 04:28
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Mason Hamlin                           11/29/2000 04:18 PM

To: Nick Hiemstra/HOU/ECT@ECT, Joseph Piotrowski/NA/Enron@Enron, John
House/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT, John
Swinney/HOU/ECT@ECT, Scott Earnest/HOU/ECT@ECT, Michelle Bruce/HOU/ECT@ECT,
Zachary McCarroll/Enron Communications@Enron Communications
cc:
Subject: Priceless!

 - Priceless.jpg


Start Date: 4/12/01; HourAhead hour: 1;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041201.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 1 / Preferred:  47.00 / Final:  46.99)
  TRANS_TYPE: FINAL
  SC_ID: ECTstSW
  MKT_TYPE: 2
  TRANS_DATE: 4/12/01
  TIE_POINT: MEAD_2_WALC
  INTERCHG_ID: EPMI_CISO_8000
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 1 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/12/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_DODGERS
  ENGY_TYPE: WHEEL

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 1 / Preferred:  43.60 / Final:  43.57)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/12/01
  SC_ID: EPMI


The Evolution Express market report for activity as of 5PM today
can be found at the following locations:

For Emissions Markets:
http://www.evomarkets.com/scripts/backdoor.php?user=michael.e.taylor@enron.com&expand=3a7c9ab4fb44af56&caller=evex_em~2001-11-19

For Coal Markets:
http://www.evomarkets.com/scripts/backdoor.php?user=michael.e.taylor@enron.com&expand=3a7c9ab4fb44af56&caller=evex_coal~2001-11-19

If you would like to see historical market data for SO2, NOx, and
Coal, including price volatility follow this:
http://www.evomarkets.com/scripts/backdoor.php?user=michael.e.taylor@enron.com&expand=3a7c9ab4fb44af56&caller=hist~

If you have any questions or comments regarding the content of the
report, please contact Mike Goldenberg (emissions) or Ken Worst (coal)
at 212-430-6475 or by e-mail (mgoldenberg@evomarkets.com or
kworst@evomarkets.com)

For technical problems related to accessing our report, please contact
our webmaster (webmaster@evomarkets.com). For general feedback on
improving our site, we would appreciate your input
http://www.evomarkets.com/feedback.html

If you would like to be removed from our distribution list, please
change your preferences following this link:
http://www.evomarkets.com/scripts/backdoor.php?user=michael.e.taylor@enron.com&expand=3a7c9ab4fb44af56&caller=modacc~

Note that sharing or forwarding this message and the active links to
restricted sections of the Evolution Markets' website is the same as
sharing your password and is a violation of the Evolution Markets LLC
Restricted Website Access User Agreement.

If you would like to have a friend or associate access these reports,
please refer them at:

http://www.evomarkets.com/refer.php?email_from=michael.e.taylor@enron.com


I agree we should have the work performed and we can talk about whether we
file it later.

Roger

Mona L Petrochko@ENRON
11/02/2000 04:20 PM

To:   Harry Kingerski/NA/Enron@Enron, Roger Yang
cc:   Susan J Mara/NA/Enron@Enron, jdasovic@.enron.com, Sandra
McCubbin/NA/Enron@Enron, Joseph Alamo/NA/Enron@ENRON, Marcie
Milner/Corp/Enron@ENRON, Paul Kaufman, Lysa Akin/PDX/ECT@ECT, Mary
Hain/HOU/ECT@ECT, Alan Comnes
Subject:  Hydro

There is an opportunity to update our existing testimony in the hydro
proceeding based upon current market information.  As PG&E is saying $2.8
billion reflects current market prices, I think we should consider filing
something that would indicate that the value of the assets is greater than
what we had previously submitted $3.4 billion.

We have to consider the FERC order and the likelihood that prices that were
experienced this summer is not likely to re-occur, to the same extent, next
summer.

I will submit an RCR, but want to make sure we discuss it first and give
MRW adequate time to do their analysis, should we decide to file.

Let me know your thoughts.

Thanks.


hey juan.. i saw that i'm not working for the Thanksgiving holiday. I dont mind working if someone else wants leave on that day.

Punit.

 -----Original Message-----
From: 	Hernandez, Juan
Sent:	Friday, October 19, 2001 10:10 AM
To:	Berlin, Jason; Blaine, Jay; Errigo, Joe; Greer, Andrew; Larkworthy, Carrie; Maskell, David; Rawal, Punit; Reves, Brant; Seely, Michael; Trejo, Reese
Subject:	PJM AVERAGES

Hey guys and gals our problems with pjm #'s has been cleared up at last.  A spreadsheet has been set-up to give us pjm #'s.  Its located in M:/ELECTRIC/24HR/NIGHTSHIFTDATA/PJMHOURLY.  The northeast guys will import their numbers into this spreadsheet everyday before they leave.  Our group will be responsible for the evening hours.  Please keep track of these when you come in to work the evening shift.  This procedure is temporary until the northeast guys start their 24 hour desk.  The start date for the northeast guys will be Nov. 1.  That is all!


Ginger, I have a meeting tmw morn until 9 AM my time, will I still be able to
call in on this?


we leave next thurs - should be fun - hopefully they can pull it out

From:  Bryan Hull
12/21/2000 02:01 PM

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Happy Hour

No peach bowl. I'll watch it on TV.  I'm already buying a plane ticket to go
home, I'm not buying another to fly to Atlanta. When do you leave for San
Diego?

	Enron North America Corp.

	From:  Eric Bass                           12/21/2000 01:54 PM

To: Bryan Hull/HOU/ECT@ECT
cc:
Subject: Re: Happy Hour

the ski trip was great - really cold and lots of snow.  we had a good time.
are you going to the peach bowl?

From:  Bryan Hull
12/21/2000 01:20 PM

To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Happy Hour

can't do happy hour.  How was your ski trip?

	Enron North America Corp.

	From:  Eric Bass                           12/21/2000 01:04 PM

To: Bryan Hull/HOU/ECT@ECT, Hector Campos/HOU/ECT@ECT
cc:
Subject: Happy Hour

Are ya'll up for Keneally's tonight?


Western Government Affairs
WEEKLY SCHEDULES
December 11 - 15, 2000

Paul Kaufman

Mon 12/11 Portland /late pm travel to Denver
Tue 12/12  Denver /late pm return to Portland
Wed 12/13  Portland /early pm travel to Reno
Thur 12/14  Reno /pm travel back to Portland
Fri 12/15  Portland

Sue Mara

Mon 12/11 San Francisco; leave for Phoenix PM for WPTF Board Meeting
Tue 12/12  WPTF Board Meeting in Phoenix AZ
Wed 12/13  San Francisco
Thur 12/14  San Francisco
Fri 12/15  San Francisco

Jeff Dasovich

Mon 12/11 San Francisco
Tue 12/12  San Francisco
Wed 12/13  San Francisco
Thur 12/14  San Francisco
Fri 12/15  Sacramento

Sandi McCubbin

Mon 12/11 CFEE Conference ) So. Calif.
Tue 12/12  CFEE Conference ) So. Calif.
Wed 12/13  San Francisco
Thur 12/14  San Francisco
Fri 12/15  Lake Elsinore

Marcie Milner

Mon 12/11 Phoenix
Tue 12/12  Phoenix
Wed 12/13  Phoenix
Thur 12/14  Phoenix
Fri 12/15  Phoenix

Mona Petrochko

Mon 12/11 San Francisco
Tue 12/12  San Francisco
Wed 12/13  San Francisco
Thur 12/14  San Francisco
Fri 12/15  San Francisco [Doctor's appt. late Tuesday PM]


Attached is a revised structure chart for the Net Works equity fund.  The
chart represents the comments and issues raised at last week's structuring
meeting.


-----Original Message-----
From: 	Wood, Stephen
Sent:	Tuesday, October 09, 2001 10:46 AM
To:	Shapiro, Richard
Cc:	McMahon, Greg; Terraso, Michael; Linnell, Elizabeth
Subject:	RE: EHS Corporate Allocations Plan 2002

Richard, thanks for the below.  Apologies for not getting back to you sooner.  Budget meetings are taking up a considerable amount of time.  We are having the RA meeting this Thursday and have put this on the agenda of things to discuss.  Once discussed I will get back to you with our views.

thanks,
Stephen x34738

 -----Original Message-----
From: 	Dernehl, Ginger   On Behalf Of Shapiro, Richard
Sent:	05 October 2001 22:13
To:	Wood, Stephen
Cc:	McMahon, Greg; Terraso, Michael; Linnell, Elizabeth
Subject:	FW: EHS Corporate Allocations Plan 2002

Stephen - We're trying to work out how certain allocations from Corp are applied within Enron Europe.

Currently, the allocations in question are being applied to Regulatory Affairs Europe (RA).  I received a message from Greg McMahon regarding the Environment and the Environmental Policy and Compliance cost centers' distribution to RA, but also would like to address the issue of the allocation from my cost center, Managing Dir Gov't Affairs, to RA.  I think all of these cost allocations should be at the Enron Europe level as a company, rather than distributed to the RA group.

Regarding the Environmental groups' allocations - these activities are on behalf of the business units' activities, not on behalf of RA. At least part of the activities are global in nature, and not even attributable to specific regions or countries within Europe.
Regarding the Mng Dir Gov't Affairs allocation - these costs reflect a portion of the activity in our DC office with federal legislators and agencies, again on behalf of the business units' activities, not on behalf of RA.

Another issue with the distribution of these costs to RA is the circle created when you allocate to a budget that then gets allocated.

Please let me know your thoughts on this issue.

Kind regards,
Richard Shapiro

 -----Original Message-----
From: 	McMahon, Greg
Sent:	Friday, October 05, 2001 11:40 AM
To:	Linnell, Elizabeth
Cc:	Wood, Stephen
Subject:	RE: EHS Corporate Allocations Plan 2002

thanks for the call Elizabeth,

I spoke to Stephen as he produces the reporting we do on corporate allocations.  He does not think Bob would be able to resolve it or want to get involved.
Can you please ask Rick to forward it to Stephen and he'll resolve it.  We have our Reg Affairs budget meeting with Michael Brown next week and he is sure to have some views on it.

Stephen - the issue is that the Corp allocations Reg affairs are getting are for EHS work and general rather than specifically attributable to Reg affairs. Its $113k

Elizabeth, I'll send you a copy of the budget as soon as Paul Dawson as agreed it (probably monday next week)
thanks
Greg

 -----Original Message-----
From: 	Linnell, Elizabeth
Sent:	05 October 2001 16:47
To:	McMahon, Greg
Subject:	FW: EHS Corporate Allocations Plan 2002

Greg - Corp Finance gave me Bob Sparger's name as a potential decision maker on this issue.  Per my voicemail, I just wanted to give you a heads' up that Rick will be sending him a note regarding these issues.  We'll copy him on the messages to bring him up to speed on the history, and will include an updated explanation of the EHS charges (also attached here).  Please let me know if there's anyone else with whom we should be communicating to resolve the issue.

Thanks!

Coordination of the  Enron annual corporate responsibility (Enron Europe requested 1000 copies for use in Europe); coordination of environmental and safety performance measures and reports for management; coordination of global Enron environmental and safety management standards; review of environmental impact assessments for projects in development; environmental due diligence, either performance or review of data/findings; coordination of responses to inquiries from international environmental non governmental organizations; participation in climate change fora including Congress of Parties international meetings; coordination of Enron global climate change position evolution; providing requested information regarding the structure of emission trading markets and greenhouse gas markets.

 -----Original Message-----
From: 	Linnell, Elizabeth
Sent:	Wednesday, October 03, 2001 2:03 PM
To:	McMahon, Greg
Cc:	Stringer, Alan; Dawson, Paul; Shapiro, Richard; Wood, Stephen; Terraso, Michael
Subject:	RE: EHS Corporate Allocations Plan 2002

Greg - Aside from the justification of the EHS allocations to Europe, the larger question is where those charges should be applied.  Rick and I spoke yesterday about this, and we agreed that the EHS charges, as well as the small amount of Corp Gov't Affairs that's allocated to Europe, are more appropriately applied at the business unit level, as it's not the Regulatory Affairs group that actually receives the services.  Additionally, the Regulatory Affairs Europe charges are applied back to the business unit anyway, so it's rather like burying allocations within another allocation.

I've left a message for Mark Lindsey in the Corp. Finance group to find out who we need to talk to in Europe about this issue.  If you have any suggestion as to who would be best to talk to about this I'd appreciate that as well.

In the meantime, we'll be sure to update the allocation explanations for the two EHS departments concerned.

Thanks,
Elizabeth

 -----Original Message-----
From: 	McMahon, Greg
Sent:	Wednesday, October 03, 2001 1:30 PM
To:	Linnell, Elizabeth
Cc:	Stringer, Alan; Dawson, Paul; Shapiro, Richard; Wood, Stephen
Subject:	EHS Corporate Allocations Plan 2002

Elizabeth,

Thanks for your reply. I think we need to re-visit the issue, you were a great help last year and I think we understand the allocations more than we ever did.
I've attached the spreadsheet we received and have pulled our figures from. I think it is from Dawn Derr.

 << File: Corp Allocations.xls >>
Paul has asked me to write the email in the hope that between us all we can agree if the charges are valid or can be reduced/removed.  Alan I have copied you in as Paul mentioned you were the most appropriate EHS person and if Reg Affairs don't take the charges perhaps your department (Asset Management) can.

These are the EHS charges Reg Affairs are down to take at the moment.
From the spreadsheet I could work out that we are paying for 10% Environment and 4% of Policy and Compliance total budgets.

The costs are not large but we are being made to explain all Corporate Allocations to our COO this year in length as to the value we get and what we use it for.

						% of 2002 budget		2002			2001

Government Affairs Environment			10%			$86k			$70k	Susan Warthen
Environmental Policy & Compliance		  	4%			$27k			$76k	Jeffrey Keeler
Total									$113k			$146k

Rick / Paul / Alan I'd appreciate any comments from you as well as Stephen is expecting me to reach a resolution on this.
Thanks a lot.
Greg

Here is the description I have of each of the two areas in 2001. (I think I received them both from you.)
Environment
My group's support services are more global in nature, rather than providing services to any one unit.  Services include the administration of the corporate EHS web site and regulatory subcsriptions, risk assessment of acquisitions, divestitures  & major capital projects, corprate responsibility initiatives, & performance reporting.  I divided the business unit allocations based on 2001 business growth, maturity of their EHS management systems, and historical use.

Environmental Policy and Compliance
Allocation to Enron Europe reflects an estimated 7.5% use of our group's time for FY2001 (revised dollar amount of $75,965).    As directed by Mike Terraso and Steve Kean, we expect to increase our commercial support focus in 2001 towards European and other international wholesale and retail markets, and will be hiring additional staff to focus in this area.   We expect our current North American activities to expand to Europe and other global markets, including:

Providing competitive intelligence (timely information and analysis) to commercial units based on environmental policy/regulation in Europe and worldwide.  Assist commercial groups with analysis of impacts on business and identify business opportunities related to environmental policies.  Subjects include:
Global Climate Change -- carbon dioxide/greenhouse gas emission regulation
Air quality regulation -- SO2/Acid Rain, NOx, mercury, particulate matter
Renewable Energy & Energy Efficiency - renewable mandates, credit/offset trading, environmental disclosure/labeling
Industrial/Global Markets - environmental issues facing new Enron markets, i.e. pulp & paper, steel, or existing markets, i.e emissions, coal, weather.

Coordinate advocacy on environmental policy issues worldwide, working closely with government affairs & public affairs units.     Maintain ongoing relationships with key environmental policy makers and build effective coalitions with industry organizations, NGOs, and other stakeholders on behalf of Enron businesses.

 -----Original Message-----
From: 	Linnell, Elizabeth
Sent:	18 September 2001 17:18
To:	Wood, Doug
Cc:	Dawson, Paul; Wood, Stephen; McMahon, Greg; Shapiro, Richard; Terraso, Michael
Subject:	FW: Corpoorate Allocations  Plan 2002

Doug - We had similar questions raised in 2001, I believe by Stephen, Greg and Peter Styles.  Without seeing the spreadsheet that outlines your numbers, I think the issue is in how Enron Europe distributes the allocation the business unit received from Corp.  I recall that last year (for 2001) the issue boiled down to how Europe handled the EH&S costs, which are separate from Gov't Affairs - but I don't have a record of what resolution was reached.  Would a similar resolution be in order for 2002, or do we need to re-visit the issue?  I'm happy to help out from the Houston end.

Regards,
Elizabeth


Let's discuss this in our Monday meeting.   In general, though, your approach seems reasonable to me.

 -----Original Message-----
From: 	Herndon, Rogers
Sent:	Friday, July 13, 2001 11:55 AM
To:	Presto, Kevin M.; Will, Lloyd
Cc:	Misra, Narsimha
Subject:	Outsourcing of ERCOT Physical Delivery Services

Kevin -

Lloyd and I spoke yesterday about the idea of outsourcing all of EES' next 30-day physical obligations in ERCOT to the Wholesale Services Desk (Services Desk).   Essentially, we would provide Services Desk with a list of customers, meters, forecasts, and a net open position (load obligation - hedges).  Services Desk would fill any net open positions at some hourly index + service fee.  EWS-Retail would still hedge all forward risks.  How we handle load forecasting as it relates to changes in our position needs to be ironed out as far as whose forecasts we use - do we consolidate this function? .  My view is that 1) Wholesale Services Desk could benefit by getting an opportunity to serve retail load and learn in a low risk position and 2) Services Desk will ultimately perform a better service than I could begin to recreate.  I want this to be the model that I can build a case on to outsource all of our next 30 day physical delivery portfolio across the Eastern Grid.  Also, Lloyd will be able to best determine what metering capabilities we really need to most accurately deliver and work these requirements throough the Ozzie/PMC model we have been working on.  Doug is also interested and on board with this concept.

 Kevin, you and I can negotiate an overall macro service fee for this stuff once we get it ironed out.

What do you think?

Rogers


---------------------- Forwarded by Sara Shackleton/HOU/ECT on 07/14/99 02:12
PM ---------------------------

Melba Lozano
07/09/99 09:04 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Dale's log


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