<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<TITLE>Finance Pros "It's Your Money, Keep It"</TITLE>
<META http-equiv=Content-Type content="text/html; charset=iso-8859-1">

<meta http-equiv="Content-Type" content="text/html; charset=windows-1252">
<meta name="GENERATOR" content="Microsoft FrontPage 4.0">
<meta name="ProgId" content="FrontPage.Editor.Document">
<title>Greetings</title>

 Greetings
Friends!

Get Extra Money Now for the
Holiday's

 Imagine
yourself debt free!

We have helped thousands of people get out of

 debt, and live that way for the rest
of their lives!

For a FREE Debt Consolidation Consultation,

Just Click
Here Now!

 We have special relationships with credit card companies, and we know
how to negotiate lower interest rates for you. You can pay off your debt
quicker than you think!

 We can also set up a  REALISTIC payment plan that matches your income
and budget - one that won't put extra stress on your family.

 We can help you:

 1) Create a plan to get rid of your debt - now and forever

 2) Cut your monthly bill payments in half

 3) Stop your creditors from calling and harassing you

 4) Drastically lower your interest rates

 5) Be completely  debt free in just a
6 months in some cases. -

 no matter what your income.

 6) Get your peace of mind back again

 7) Give you renewed hope about the future for you and your family

 For a  FREE Debt Consolidation
Consultation,

 Just Click Here now,

 and start down your path to financial freedom!

 There is absolutely no obligation!

Thank you for your time in reviewing this email.

To removed from future mailings please  click here


[IMAGE] [IMAGE] [IMAGE]
[IMAGE] [IMAGE] [IMAGE] [IMAGE]
[IMAGE] [IMAGE] [IMAGE] [IMAGE]
[IMAGE]    If you do not wish to receive future newsletters, please send us an e-mail at style@response.etracks.com  with "REMOVE jsteffe@enron.com" in the subject line.


In the last several weeks several areas have come up where the TW commercial
team could, in my opinion, use some clear written guidance on gray areas
under the tariff ought to be interpreted.  Here is my list.  Please add items
if I've missed any.

1.  When can TW "selectively market" available capacity?   I.e., if capacity
is on the board as available, and no one has bought it, are there any limits
on calling up a customer, or a group of customers, and pitching a deal?  I
think we have a lot of discretion here--after all, using the telephone to
talk to one customer is always "selective" since there's only one guy on the
phone, not all our customers.  Also, can we deliberately leave a customer off
the list of "the usual suspects" we call to pitch a special deal like an
index to index deal or a discount?  I've asked Lee to pull together a quick
analysis of this issue.

2.  If we get multiple bids for a chunk of capacity outside of the open
season context, how do we allocate it?  This is the situation we got into a
couple of weeks ago on the '02 and '03 space.  Are we always required to use
a lottery?  Do we need to modify the tariff to use pro rata, or can we use
pro rata simply by notifying the customers in advance?

3.  What approval process applies to max rate contracts and negotiated rate
contracts?  The ET&S discount approval procedure still applies to TW
discounted deals (even there is no ET&S anymore).  I think all neg. rate
deals should be approved by law and regulatory, but I don't need to see max
rate strd language deals.
4.  ???  I think there was another issue, but I can't remember what it was.

Thanks for your input on this.  DF


The following position has become available in Volume Management reporting to
Chris Stokley.  There are 2 positions available.

Essential Functions:

Responsible for preparing and reconciling estimated and actual service costs
related to doing business in the California market with the ISO (Independent
System Operator).  Responsibilities will increase as other markets open.
Responsible for ensuring all disputes between EPMI and the ISO are
documented, submitted and brought to resolution prior to the close of the ISO
dispute period.
Responsible for explaining variance between EPMI estimated costs vs. ISO
actualized costs.
Responsible for performing a control function to ensure internal systems are
kept in sync.
Anticipate and respond to customer (internal and external) requests,
inquiries, and investigate and resolve issues in a timely basis.
Identify and recommend opportunities to re-engineer processes and procedures.
Provide a liaison function between Logistics (Scheduling), Power Settlements
and Accounting.

Job Requirements:

College degree or equivalent work experience.
Strong accounting skills.
Should possess strong technical knowledge of the Power Industry.
Must possess strong analytical skills.
Heavy attention to detail and strong organizational capabilities.
Must possess excellent oral, written, and interpersonal skills.
PC proficiency, including Microsoft Work, Advanced Excel, and Access.

Special Job Characteristics:

Must be highly motivated.  Self-starter with ability to recognize and solve
problems.
Overtime may be required.
Some travel may be required.

Chris/Murray will be holding a brown bag lunch on Tuesday, March 6, 2001 in
Mt. Hood to discuss this opportunity.  Interested applicants should advise
Amy FitzPatrick no later than close of business on Thursday, March 8, 2001.


Take a look at this one.  I believe this is what ya'll want to see.

Shanna


Thanks Robin !!  Have a great weekend.  I look forward to further business dealings.

Many thanks for all you help!!!

 -----Original Message-----
From: 	"Robin Masciangelo" <rmasciangelo@duke-energy.com>@ENRON
Sent:	Friday, October 26, 2001 9:54 AM
To:	Perlingiere, Debra
Subject:	Re: Master firm Gas Purchase/Sale Agreement

Good Morning Debra!

I've had the agreement executed and it'll be in your office on Monday.

Have a wonderful weekend!

Robin


Bob's just finishing up a meeting, so I'll have to wait a minute for info on
this EES sleeve. I'll let you know as soon as I see him.

Kate

Evelyn Metoyer@ENRON
04/02/2001 02:29 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 4/2 Checkout

AMEREX WEST
Bob Badeer

I am missing the following deals:

1)  Sell  Sempra Energy Trading Corp.  100  NP 15  1/1/02- 3/31/02 50mw
off     0.0075  fee
2)  Buy  Enron Energy Services, Inc.  99.95  NP 15  1/1/02- 3/31/02 50mw
off      0.00  fee

BLOOMBERG
All deals checked out fine.

PREBON WEST
All deals checked out fine.


yep

Brian Hoskins@ENRON COMMUNICATIONS
11/06/2000 11:08 AM
To: John Arnold/HOU/ECT@ECT
cc: Fangming Zhu/Corp/Enron@ENRON
Subject:

John,

Are you available to install the Enron Messenger application today at 4pm?

Brian

Brian T. Hoskins
Enron Broadband Services
713-853-0380 (office)
713-412-3667 (mobile)
713-646-5745 (fax)
Brian_Hoskins@enron.net


Good morning!

Would you let me know if you received a wire from Enron on Friday april 12th please?  The amount was $22,000.00.

Thanks


Hi!  We're a group of undergraduate students from
Prof. Staw's organizational behavior class. We are
doing a project that researches the impact of
companies' maternity leave and family friendly
policies on employees. Please help us out by answering
a few questions in our survey. It will only take a
minute. Be assured that all names will be kept
confidential. Thanks!

PLEASE REPLY BY WED, APRIL 11.

_________________________________________

CLICK "REPLY" AND PUT AN "X" NEXT TO YOUR DESIRED
RESPONSE.

1) Are you male or female?  m__    f__

2) Do you have children?  y__    n__
If yes, how many?  ___

3)  In the past, has a company's family friendly
policy influenced your decision on whether to work at
that company?   y__    n__
If yes, was this impact positive or negative?
+__    -__

4)  In the future, do you think that you will consider
a company's family friendly policy on whether to work
there?  y__    n__

5)  Job A: pays $60,000 a year, but has no family
friendly policy, other than 6 weeks of unpaid
maternity leave (for females who give birth).

Job B: pays $50,000 a year and has a childcare
center on the company, allows for job sharing/part
time, and gives you 6 weeks of paid maternity leave
(for females who give birth).

Which job do you prefer?  a__    b__

6)When selecting a company to work for, please rate
the following factors in the order of importance.
(1-5) with 1 being most important.
a) paid benefits                    ___
b) family friendly policies         ___
c) salary                           ___
d) opportunities for advancement    ___
e) organizational culture           ___

7) How many weeks of paid maternity leave do you think
is fair?  ___
How many weeks of unpaid leave?  ___

Please answer the rest of these questions if they
apply to you:

8) Do you have a personal experience you would like to
share with us?
COMMENTS:

9) In the past, have you felt that a company's family
friendly policies has affected your family life?
y__    n__
If yes, was this effect positive or negative?
+__    -__
COMMENTS:

10) In the past, have you felt that a company's lack
of family friendly polcies impeded your advancement in
an organization?  y__   n__
COMMENTS:

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


In order for UBS Warburg to timely process your paycheck, I am requesting that all employee's accepting offers return any outstanding forms to my new desk location at  05852 on the 5th floor of ECS (Look for the Hamburg Flag) by noon this Friday  2/01/02.  This will prevent any benefit deductions from having to be "Double Deducted" on future checks.  Please attach a deposit slip or voided check stub to your direct deposit form.  Attached below are the forms needed for payroll/benefits, in case you did not turn these in at Orientation.  Lastly, please verify that your EHRonline home address is showing your current home address because all live checks will be mailed to your home residence.

Thanks, Tony Jarrett
Benefits
Ext. 3- 7829


Hell'o Stranger. How are you ? How's the family (including the hounds?) Want
to go on a trip?     Sam


fyi
---------------------- Forwarded by Kay Quigley/HOU/EES on 10/11/2001 08:25 AM ---------------------------
From:	Kathy Mayfield/ENRON@enronXgate on 10/10/2001 05:08 PM
To:	Kay Quigley/HOU/EES@EES, Rebecca Phillips/ENRON@enronXgate, "Eric Geisler (E-mail)" <eric.d.geisler@us.arthurandersen.com>@SMTP@enronXgate, "Susy Smith (E-mail)" <SSmith@uwtgc.org>@SMTP@enronXgate
cc:
Subject:	Robert Duvall . . .

Thank you for joining me at the Robert Duvall Polo Event on Sunday.  It should be alot of fun.  We are all also invited to the Sponsor Party on Friday night.  I believe Robert himself will be there!  The details are below.  Let me know if you are interested in attending.  Thanks, Kathy

> Galerie Claudia cordially invites you to a reception
> in honor of the sponsors and underwriters, Friday,
> October 12, 6:00-8:00, 2927 Ferndale
> RSVP Houston POlo Club: 713 622 7300
> Coctail Attire.


We have our first round United Way BIG WINNERS (of the valuable $25 gift
certificates to the Enron Signature Shop)!!

Margaret Carson
Karen Denne
Pat Keene
Lisa Feener

We will have another drawing early next week, so please logon now to
UnitedWay.enron.com.

This act of giving makes us all winners!  Thanks!


let me know if this prints ok
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 03/23/2000
08:47 AM ---------------------------

"Pete D'Alessandro" <pete_dalessandro@vintagetul.com> on 03/23/2000 08:48:05
AM
To: Susan Bailey/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT
Subject: Re: Schedule to Master Agreement

This looks good.  We do not have good copies of the ISDA Agreement, so if you
could print the final copies of both the ISDA Agreement and Schedule and send
them to me, I'd appreciate it.

pete

>>> "Susan Bailey" <Susan.Bailey@ect.enron.com> 03/22/00 01:10PM >>>

Pete,

Attached is a clean version and blacklined version of the Schedule to the
Master
Agreement, between Enron North America Corp. ("ENA") and Vintage Petroleum,
Inc.
("Vintage").   The attached Schedule includes the revisions agreed upon
between
you and Sara Shackleton.  Pursuant to Sara's request, the Schedule has been
prepared as an "execution copy" and therefore, includes (a)  an agreement date
of March 22, 2000 (since no trades exist between the parties, today's has been
included), and (b) the name and title of the ENA signatory for the ENA
signature
block.

If the attached meets with your approval, it is my understanding you will be
furnishing execution sets of the Schedule.  However, please advise if ENA or
Vintage will provide the execution sets of the "preprinted boilerplate" of the
ISDA Master Agreement.

If you have any questions you may reach me by phone.  My direct number @ ENA
is
(713) 853-4737.   I look forward to your comments and further instructions.

Susan

(See attached file: 078bctr.doc)(See attached file: 078BCTRRED.DOC)


Is someone from our group working on this?
----- Forwarded by Tana Jones/HOU/ECT on 08/01/2000 01:14 PM -----

	Tracy Ngo
	08/01/2000 07:48 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: assignment of deals from Merchant Energy Group of the Americas to
Morgan Stanley

Tana,

Before Carol St. Clair left for maternity leave, she was working on the
assignment of some financial and gas deals with Christopher Smith (who
previously worked in our group).  Since Christopher is no longer here and
with Carol being out, I'm scrambling to find out who in the financial team is
working on this.

I've left Mark Taylor a message since Carol's voice mail forwards all
questions to Mark.

Could you let me know if you have any info?

Thx,
Tracyh


EOL Deals	 From: 7/1/2001   To: 7/13/2001	 	EOL Deals	 From: 7/1/2001   To: 7/13/2001
Desk	 Total MWH	 Total Deals	 	Desk	 Total MWH	 Total Deals

EPMI Long Term California	 1,445,400	 89	 	EPMI Long Term California	 2,895,920	 29
EPMI Long Term Northwest	 999,425	 57	 	EPMI Long Term Northwest	 7,466,194	 132
EPMI Long Term Southwest	 2,193,750	 153	 	EPMI Long Term Southwest	 7,262,396	 154
EPMI Short Term California	 470,424	 636	 	EPMI Short Term California	 875,066	 394
EPMI Short Term Northwest	 245,000	 416	 	EPMI Short Term Northwest	 214,676	 242
EPMI Short Term Southwest	 469,400	 489	 	EPMI Short Term Southwest	 1,104,565	 416

Grand Total	 5,823,399	 1,840	 	Grand Total	 19,818,817	 1,367

EOL Deals	 From: 7/13/2001   To: 7/13/2001	 	EnPower	 From: 7/13/2001   To: 7/13/2001
Desk	 Total MWH	 Total Deals	 	Desk	 Total MWH	 Total Deals

EPMI Long Term California	 0	 0	 	EPMI Long Term California	 0	 0
EPMI Long Term Northwest	 0	 0	 	EPMI Long Term Northwest	 1,250	 8
EPMI Long Term Southwest	 480,400	 24	 	EPMI Long Term Southwest	 701,985	 23
EPMI Short Term California	 59,680	 78	 	EPMI Short Term California	 132,612	 76
EPMI Short Term Northwest	 29,200	 54	 	EPMI Short Term Northwest	 63,416	 32
EPMI Short Term Southwest	 56,400	 62	 	EPMI Short Term Southwest	 156,976	 62

Grand Total	 625,680	 218	 	Grand Total	 1,056,239	 201

ICE Volumes	 From: 7/13/2001   To: 7/13/2001
Delivery Point	 EPMI MWH	 Total MWH	  Price

Mid C (P, Next Day)	 400	 0	  $   47.00
Palo (P, Next Day)	 2,800	 800	  $   55.39
Palo (P, Bal Month)	 46,800	 10,400	  $   71.53
Palo (OP, Bal Month)	 3,800	 3,800	  $   34.00
Palo (P, Aug01)	 54,000	 0	  $   85.30
Palo (P, Q1 03)	 30,400	 0	  $   38.00
Palo (P, Sep01)	 19,200	 0	  $   73.50
SP-15 (OP, Next Day)	 2,400	 0	  $   32.50
SP-15 (P, Next Day)	 4,400	 0	  $   46.96
SP-15 (P, Bal Month)	 5,200	 5,200	  $   63.00
SP-15 (OP, Bal Month)	 7,600	 3,800	  $   33.88
SP-15 (OP, Aug01)	 7,800	 7,800	  $   44.00
SP-15 (P, Aug01)	 10,800	 0	  $   76.00
SP-15 (P, Cal 04)	 123,200	 0	  $   43.50
NP-15 (OP, Next Day)	 800	 0	  $   33.00
NP-15 (P, Next Day)	 400	 0	  $   45.00

Grand Total	 320,000	 31,800	  $ 822.56


As most of you know, American Airlines Flight 11 from Boston to Los Angeles was hijacked yesterday and then crashed into the north tower of the World Trade Center in New York.  We are very sorry to report that we believe an Enron employee was on board that flight.   Nick Humber, a director in Enron Wind's commercial origination group, was listed on the flight's manifest, and although his family has not received official confirmation that he boarded the flight, they have been unable to contact him.  Nick was based in Boston and was traveling to Los Angeles for a meeting.  We have talked with Nick's family and offered our full support.  Please continue to keep Nick's family and everyone affected by this horrific event in your thoughts and prayers.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/12/2001
11:16 AM ---------------------------

"Btu" <subs@Btu.net> on 02/09/2001 05:20:32 PM
To: "Btu's Weekly Power Report" <>
cc:
Subject: Btu's Weekly Power Report

Please delete the previous issue and keep this amended copy. We apologize for
the inconvenience.

e-mail: info@Btu.net
phone: 732-758-8222
fax: 732-758-8286

 - wp021201.pdf


As you know, several weeks ago we retained an attorney out of Wahington DC to
assist us with the EPA permitting issues. The need for counsel was put on
hold when we decided to move the plant. Is ther anything more we need to do
to follow up on this matter?


Pam Anderson from Intercontinental Exchange will be giving an ICE presentation
on Tuesday, May 22 in EB 32C2 at 3:00 pm .

Please let me know if you plan on attending.

Thanks,
Rain


The Monthly North American Uncoated Mechanical  Papers Statistics - Flash
report  for September 2001
 is now available on Economics Online. www.pppc.org/econ/.

Should you have any questions concerning the content of this report, please
do not hesitate to contact Paul Leclair,  Analyst - Finance and Markets at
(514) 861-8834 or by e-mail at pleclair@pppc.org.

For questions or comments concerning Economics Online, please contact:

Doreen Olkowicz
Manager, Statistics and Online Services
T (514) 861-8851    F (514) 866-4863    E-mail  dolkowicz@pppc.org


Maybe Mark doesn't know about Lance's trip.

From: Carlos Sole on 04/04/2001 10:05 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Re: PSEG Risk Memo

Janette told me Julia and Lance is out tomorrow also, nut I'll check with
him.  thanks

Carlos Sole'
Senior Counsel
Enron North America Corp.
1400 Smith Street
Houston, Texas 77002-7361

(713) 345-8191 (phone)
713 646-3393 (fax)


Hi Dee:

Per our conversation, I am attaching the listing of the Research Group.
We would like  50 sets of the wallet size telephone cards made up.

Our Co.# is 0011 and our RC# is 100038.

If you have any questions, please call me at 3-5290.

Thanks and have a great day!

Shirley


Hello, now that I have looked at these trades closer it looks like most of
them are EOL trades.  I don't think your traders did too badly on the
contacts.

Thanks!
Melissa
---------------------- Forwarded by Melissa Ann Murphy/HOU/ECT on 03/01/2001
04:55 PM ---------------------------

Melissa Ann Murphy
03/01/2001 05:49 PM
To: Kate Symes/PDX/ECT@ECT
cc: Sharen Cason/HOU/ECT@ECT, Kimberly Hundl/Corp/Enron@Enron, Amy
Smith/ENRON@enronXgate
Subject: West Daily Trades

Hi Kate, can you please ask all of the traders to add contacts to their
trades.  Starting today we are confirming west daily trades.  Christian Yoder
thought it would be a good idea to start confirming these trades.  If you
look at the attachment below you will see how many deals we will have to open
up to attach a contact to.  We are going to try to get our IT group to fix
the system so that the confirm would populate with a default contact whether
one has been chosen in Enpower or not.  This may take a while for them to do.

Thanks for your help,
Melissa
---------------------- Forwarded by Melissa Ann Murphy/HOU/ECT on 03/01/2001
04:41 PM ---------------------------

Melissa Ann Murphy
03/01/2001 05:10 PM
To: Tony Marquez/Corp/Enron, Will Smith/HOU/ECT, Duong Luu/HOU/ECT
cc:
Subject: West Daily Trades

Hello, if there is anyway for you all to quickly change the deals on the
following spreadsheet to "yes" on confirmation letter please let me know!

Thanks!
Melissa


---------------------- Forwarded by Carla Hoffman/PDX/ECT on 10/27/2000 10:34
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     10/27/2000 10:27 AM

To: undisclosed-recipients:;
cc:
Subject: DJ House Votes, But FERC Unswayed On Calif Pwr Probe Release

17:20 GMT 27 October 2000 DJ House Votes, But FERC Unswayed On Calif Pwr
Probe Release
WASHINGTON (Dow Jones)--The Federal Energy Regulatory Commission said Friday
it won't be swayed by a House vote urging immediate release of the results
of a staff probe into recent problems in California's power market.
FERC announced last week that it had received the results of an eagerly
anticipated staff investigation of market conditions that sent power costs
in California soaring over the summer.
The agency scheduled an extraordinary meeting for Nov. 1, at which it plans
to vote on proposed remedies based on the report's findings, but declined to
make public the staff's report before then.
"We plan to release the report on the first of November. The date hasn't
changed," said FERC spokesman Hedley Burrell.
The unprecedented high power prices in California this year have generated a
fierce political backlash in the state, as retail consumers in San Diego
were exposed to market-based prices this summer two to three times higher
than what they paid the previous year.
At the same time, utility companies outside of San Diego lost hundreds of
millions buying high-cost power at wholesale and selling it at retail at a
loss under a state-mandated retail rate freeze.
The decision to keep the staff report under wraps until Wednesday was
objected to by FERC Commissioner Curtis Hebert, the lone Republican among
the four sitting commissioners at FERC.
"The people of California should have as much time as possible to digest our
staff's findings and consider the options presented," Hebert said. "It can
only help heal the raw emotions rampant in the state of California."
Rep. Brian Bilbray, R-Calif., whose district is in the San Diego region
where retail consumers were hit by the high-flying wholesale prices this
summer, sponsored the non-binding resolution the House approved Friday
urging immediate release of the report.
Bilbray is locked in a tight re-election campaign against Susan Davis, a
Democratic state assemblywoman, who was a sponsor of the legislation that
created the state's retail power restructuring initiative blamed for
creating the crisis.
The power price crunch has factored prominently in the race, in which
Bilbray has run advertisements likening Davis to a Dr. Frankenstein whose
electricity deregulation monster has run amok.
The House debated Bilbray's resolution late Thursday, but the lawmaker was
unable to attend due to a death in the family. Similarly, Bilbray was
unavailable for the House session Friday when the measure was passed in an
unrecorded voice vote, nor was he available to comment Friday,
Another San Diego-area lawmaker, Rep. Bob Filner, D-Calif., in a telephone
interview Friday, dismissed the Bilbray resolution as "a meaningless thing."

The non-binding resolution "doesn't do much," Filner said, arguing the House
instead should take up his legislation directing FERC to roll back power
prices in the state and direct power sellers to provide retroactive refunds
to consumers.
Bilbray's resolution is "a politically generated thing to assure he is
covered for his re-election," Filner said. "His party will not let him do
something significant."
-By Bryan Lee, Dow Jones Newswires, 202-862-6647, bryan.lee@dowjones.com
(END) Dow Jones Newswires 27-10-00
1720GMT Copyright (c) 1998, Dow Jones & Company Inc

G_nther A. Pergher
Senior Analyst
Dow Jones & Company Inc.
Tel.  609.520.7067
Fax. 609.452.3531

The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material.  Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you received
this in error, please contact the sender and delete the material from any
computer.

 <<Gunther Pergher (E-mail).vcf>>
 - Gunther Pergher (E-mail).vcf


This deal is booked correctly.  The external fee, labeled exchange fee is the
.145 cents per mm that we owe them for the exchange.  The confirmation letter
is wrong.  The fee per Geoff Storey the trader is .145.  This is also known
as a spread fee.  If you have any questions, please feel free to call 3-7376.
PL

Elizabeth L Hernandez
12/05/2000 03:09 PM
To: Phillip M Love/HOU/ECT@ECT
cc: Charles Jacobs/NA/Enron@Enron
Subject: Consumers Energy

You entered these deals in Sitara.  Could you please get with Chuck Jacobs to
resolve this issue.  Please see his e mail.
---------------------- Forwarded by Elizabeth L Hernandez/HOU/ECT on
12/05/2000 03:08 PM ---------------------------

	From:  Charles Jacobs @ ENRON                           12/05/2000 12:59 PM

To: Elizabeth L Hernandez/HOU/ECT@ECT
cc:
Subject: Consumers Energy

Elizabeth,

Can you check out Deal #'s 411921 (Sale) and 411937 (Purchase)?  Looks like a
buy/sell where we sold to Consumers Energy in October (1,000,000 total at
5.20) and bought it back from them in November.  Both deals have 0 rates so
that's not a problem.  The problem is - there's an exchange fee on both deals
of $0.0725.  But it's a negative fee on the sales side and a positive fee on
the purchase side.  That means I would owe them a netted amount of $145,000.
Is that right??  Should the sale side maybe be positive so the two sides net
to 0 - or do we owe them this money??
Also, the confirmation letter for the sales side mentions a "spread fee" to
be paid by Seller (ENA) of $155,000.  Could that $145,000 netted amount be a
part of that?  And if so, where's the other $10,000?

So many questions!!  I have copies of the confirms if you need to see them.
Let me know...

...Chuck


-----Original Message-----
From: 	Jones, Tana
Sent:	Tuesday, December 11, 2001 10:06 AM
To:	Keiser, Holly
Subject:	spreadsheet

 << File: Pre-Petition Terminations.xls >>


PLEASE NOTE THAT THERE WILL NOT BE A REPORT ISSUED THIS WEEK.  I WILL UPDATE
EVERYONE NEXT WEEK ON THE VARIOUS MATTERS.

Further, if you have not already been advised, our paralegal, Samantha Boyd,
will be out of the office for several weeks due to a personal loss.

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com
----- Forwarded by Mary Cook/HOU/ECT on 04/06/2001 11:05 AM -----

	Mary Cook
	03/30/2001 10:32 AM

		 To: Derek Davies/CAL/ECT@ECT, Greg Johnston/CAL/ECT@ECT, Mark
Powell/CAL/ECT@ECT, Chris Gaffney/TOR/ECT@ECT, Carol St Clair/HOU/ECT@ECT
		 cc: Tracy Ngo/PDX/ECT@ECT, Russell Diamond/HOU/ECT@ECT, Wendy
Conwell/NA/Enron@ENRON, Edward Sacks/Corp/Enron@Enron, Susan
Bailey/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Stephanie
Panus/NA/Enron@Enron, Mark Taylor/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Peter
Keohane/CAL/ECT@ECT
		 Subject: Canada Work Report

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas   77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
mary.cook@enron.com


Cheryl:

Glad you got the info!  Let me know if you need anything further.

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

	Cheryl Nelson@ENRON
	Sent by: Cheryl Nelson@ENRON
	04/03/2001 09:29 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: Enron Credit Inc. - request for urgent information

Anna from Bear called me and forward Ms. Lewis' information to me.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693


you guys win one wild card game and all of the sudden the saints are
superbowl contenders.


For informational purposes.

The GPG IT team will be involved in nine audits from June through October of
this year, the schedule is attached.

I do not anticipate any major findings, but will keep you apprised as the
process progresses.


Please see the attached redline version of the Master Firm Purchase Sale
Agreement .  This version incorporates changes to Section 4.5 as discussed.
Please do not hesitate to give me a call with any questions you may have
regarding the enclosed.

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


According to the Certificate changes, which are filed with the state of Delaware, Article VII, Section 1 was deleted in its entirety and replaced.  The replacement language is consistent with the latest copy that I gave you earlier today.

In this same filing, a change was made to Article V, Section 6.  It states that the determination of how to fund a budget deficit will be made via a super majority vote of the Board.  The language is:

Section 6. A vote of at least seventy-five percent (75%) from the Board, including an
affirmative vote of at least forty percent (40%) from the Directors representing each Segment
within each Quadrant, shall be required to determine how to fund a budget deficit or to
establish or modify a promotional dues program.

The filing is dated August 3, 1998.


You don't have any furniture? Kjaerholm is fantastic but it is a low scale
and works best when together. Most other furniture looks too big near it.
I'll try to send the pics again. I like Mies...which chairs? We have an older
daybed (Mies) coming in. What do you like? What do you want your place to
feel like? It helps me when sending pics to you...warm, architectual, cool,
gallery , (?)etc... Would you mind sending the check fedex when you get it?
You know how it is... the money comes in and then it goes out.....Thanks, Kim


Dear Investor:

We at the Law Firm of Schulman, O'Connell, and Wood, one of the most successful plaintiff class action law firms have, together with our affiliates, won billions of dollars in settlements and judgments from companies for fraudulent and misleading statements made by them to shareholders and/or investors.  We have recently brought an action against Corning for allegedly failing to disclose material information as it relates to their November 2nd, 2000 secondary offering. If you have purchased shares in the secondary offering or thereafter, please respond to the link below.

We are also bringing an action against Prize Energy, who is in the process of being acquired in a friendly transaction, which we, as well as other independent analysts, feel does not represent true value to Prize shareholders, and we believe that, should the company be shopped around, a much better deal will result for shareholders/investors.  If you currently hold any shares in Prize Energy, please respond to the link below so that your rights will be protected.

Additionally, another service we offer is that, once you are on our list, we will inform you of any shareholder litigation that we are aware of and forward you the necessary forms for you to fill out and sign, so you may participate and receive monies due you.

http://www.shareholderfraud.net

If you do not wish to receive any further mailings from us or have received this mailing in error, please respond to the link below to remove your Email address from any future communications.

http://www.shareholderfraud.net/Remove.asp

Sent to:  alewis@ect.enron.com


I am forwarding a weekly "gossip column" put out by the Executive Director of
the Western Power Trading Forum.  There are a couple of interesting comments
relating to the Silver Peak overscheduling event.  I think that Ken Lackey's
comments are at the core of the argument that we are trying to make.
---------------------- Forwarded by Tim Belden/HOU/ECT on 06/25/99 09:13 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Gary B. Ackerman" <foothi19@idt.net>
06/24/99 04:56 PM

Please respond to gackerman@wptf.org
To: Barb Ennis <baennis@ix.netcom.com>, "Becky A. Kilbourne"
<bakilbourne@calpx.com>, Bill Metcalfe <w.metcalfe@usa.net>, Bob Anderson
<Robert_Anderson@apses.com>, Bob Hoffman <bhoffman@newenergy.com>, Bob
Reilley <rreilley@tejasenergy.com>, Brian Mock <bmock@coral-energy.com>,
Curtis Kebler <Curtis_L_Kebler@reliantenergy.com>, David Bobo
<david-bobo@hlp.com>, David Parquet/SF/ECT, Dennis Benevides
<dbenevid@enron.com>, Dennis Flaherty <dcfl@dynegy.com>, Frank Rierson
<fgrierson@aol.com>, George Sladoje <gsladoje@calpx.com>, Greg Blue
<gtbl@dynegy.com>, Gregg Cordell <gcordell@enron.com>, John Flory
<jeflory@calpx.com>, Ken Czarnecki <Ken_J_Czarnecki@calpx.com>, Ken Lackey
<Kenneth_Lackey@EdisonMission.com>, "Lisa G. Urick" <lgurick@calpx.com>, Mona
Petrochko <mpetroch@enron.com>, Nancy Day <nday@newenergy.com>, Paul
Mead/PDX/ECT, Peter Bray <peter.bray@pgees.com>, Roger Pelote
<rpelote@energy.twc.com>, Romula Barreno <rfbarreno@calpx.com>, "Ross\"Mother
Pie\"Clark" <rclark@coral-energy.com>, Sheryl Lambertson <slamb@mtpower.com>,
Sue Mara <smara@enron.com>, Tim Belden/HOU/ECT, Tom Delaney
<tom_delaney@enron.com>, Vicki Sandler <Vicki_Sandler@apses.com>, Al Parsons
<alp@ncpa.com>, Anne Bertolet <abbertol@newwestenergy.com>, Barry Bell
<barry.bell@pacificorp.com>, Brian Jobson <bjobson@smud.org>, Chris Hawkins
<chris.hawkins@lgeenergy.com>, Daniel Kirshner <dank@edf.org>, Dave Nuttall
<dn@ui.com>, Denice Cazalet <dcazalet@apx.com>, Edmond Chang
<echang@wapa.gov>, Edward Cazalet <ed@cazalet.com>, Jack Ellis
<jack@apx.com>, Jeanne Higgins <jeanneh@citizenspower.com>, Jerry Toenyes
<toenyes@wapa.gov>, Jim Kritikson <jgkritikson@calpx.com>, John Stremel
<jstremel@energy-exchange.com>, julie blunden <blunden@greenmountain.com>,
Ken Nichols <ken@hetrading.com>, Kendra Heinicke <klheinicke@calpx.com>,
Linda Hamilton <lhamilton@avistaenergy.com>, Marcie Milner
<marcie_milner@enron.com>, Mark Tallman <mark.tallman@pacificorp.com>,
"Nichols, Lauren - PGS" <lnichols@bpa.gov>, Paul Kroger
<paul.kroger@pacificorp.com>, Peggy Olds <paolds@bpa.gov>, Randy Young
<RYoung05@apsc.com>, "Richard H. Counihan" <counihan@greenmountain.com>, Rob
Nichol <rsnichol@newwestenergy.com>, Steve Fisher
<svfisher@avistaenergy.com>, Tom Breckon <tom@ncpa.com>, webmaster
<charlotte@wptf.org>
cc:
Subject: WPTF Friday Thin Quality Burrito

Hey Burrito Heads!  It's just another fascinating week in Burrito land.
I spent the better part of this week learning something new, which at my
age is not easy.  In fact, just about everything at my age is getting
more difficult.  But I wont  bore you with the details.  The new thing I
learned was how to be an Examiner on the Board of Examiners for this
year's California Governor's Quality Education and Development Award
(CalQED).  Its an annual shindig for companies, health care
institutions, and schools to compete for the honor of shaking the Gov's
hand, and hearing that your (pick one: company, non-profit, school,
health care institution) are world class.  Being an examiner of the
written applications, and working with a team of peer examiners is all
pro bono on my part.  I am wondering what the hell I got myself into.
I'll tell you more about it some other time.

Speaking of world class, I got two top notch letters this week that I
want to share with you.  One from Ken Lackey of Edison Mission Marketing
and Trading, regarding the May 25 overscheduling on the Silver Peak
intertie by 2900 MW (see Lori Eckman's note to me in last week's
Burrito), and a reply to Ken's letter from George Sladoje, CEO of the
PX.

Ken, who I have known for several years, is a person who doesn't speak
out unless something really bothers him. Ken wrote:

"Since Day 1, I've always wondered what mechanism was in place to
protect against this scenario [overscheduling on an intertie], or if
this scenario would be regarded as a market implementation flaw or
"feature".  I always figured it was a feature, simply because I didn't
think that a hole this large would be unintentionally overlooked.  I
also figured that this feature was available for use by market
participants and that if it became overused, that it would eventually
come under scrutiny by the market compliance police.  I also wondered if
people could use this to change spreads in such a way as to improve
their overall positions.  I also figured that for the most part there is
no such thing as "artificially" high prices since  in my opinion the
market design itself is somewhat artificial.   But now I know the
truth..it's a flaw, it was overlooked and there is no
protection...amazing.

"I certainly do not agree with [George] Sladoje's interpretation of the
PX tariff (that overscheduling across a path constitutes improper
implementation of a generator schedule, which therefore constitutes a
violation of the tariff).   Also I believe that it is completely
inappropriate for the burden of proper functioning of the market to rest
on the shoulders of the market participants (i.e. if someone types in an
incorrect schedule in their PX Trade Application, the market should not
blowup) .  The responsibility of a properly functioning market lies with
the market operator (PX) itself.  PX software should validate that the
proper mechanics have been used by the market participants.

"By the way, it wasn't us who caused this situation, and of course we
would prefer to pay low PX energy prices rather than high, but if we
review this situation and retroactively recreate prices, then perhaps
all other cases in which congestion at tie-points caused high prices
should also be reviewed to see if they are "real".

"By the way, typically, I would not respond to this sort of thing due to
time constraints, however, some of our recent involvement in other
ISO/PXs has highlighted the contrasts between California and other
ISO/PXs.  Each of them, including California, has its strengths and
weaknesses, however, it's in California where the unusual is the norm."

I sent Ken's letter to George, and his staff at the PX, and George wrote
back the following:

"Because the incident of May 25 is the subject of an official
investigation by the PX Compliance unit, I cannot comment on the
specifics of this matter at this time.  It is likely that the CalPX
Market Monitoring Committee will be involved in the investigation and
the results will likely be presented to the CalPX Board of Governors.
As to the issue of a design flow in the overall California marketplace
--- we are currently reviewing this issue and have requested that the
ISO do the same.

"I disagree with the assertion that CalPX Tariff provision 3.3.2 does
not apply here.  In all major exchange operations the institution not
only provides a forum for trading, but also monitors the activities of
its members, both currently and after the fact.  The participants are
expected to follow the rules.  At one of my previous employers, as an
example, (the Chicago Board of Trade), a suspected abuse or a compliant
from another member or customer results in an investigation by the
Office of Investigations and Audits (the counterpart of CalPX's
Compliance unit).  Depending on the nature of the issue, the
investigation results are presented to the Floor Governors Committee,
Business Conduct Committee or the Financial Compliance Committee.  These
bodies then determine if additional investigation is warranted and if
the issue requires Board of Director action.

"Similarly, the CalPX has the obligation to investigate and take actions
against participants who violate tariff provisions.  Our recently filed
sanction's protocol formalizes the process further and describes a
series of penalties which can be imposed.  Therefore, we believe our
tariff does provide adequate protection.

"Finally, as to whether a comparable event has occurred in the past ---
this will be part of the investigation process and a review of market
design.  Obviously, impact schedule submissions above ATC limits have
happened as a result of free and open markets.  Congestion has become an
almost regular occurrence.  The real issues under investigation in this
incident are magnitude, intent and materiality of impact on our
marketplace."

Thank you, both Ken and George for those comments.  I am sure we will
hear from other members on the issue.  Lori, don't be silent.  You
started this thing.

====================================

Speaking of market design (segues, I am very big on segues this week),
old warrior, dear friend,  and defender of the just, Carl Imparato had a
few things to say about the ISO's proposed utilization of ex post GMMs.
Carl wrote:

"Yesterday, [the ISO Market Analysis Unit] stated that not implementing
after-the-fact GMMs would be a departure from the original vision of the
California market structure.

"Ex post GMMs were NOT a part of the market structure.  When I was at
PG&E and we were developing the tariff in early 1997, no one (not at
PG&E, SCE or any other market participant, to my knowledge) ever
advocated ex post GMMs, and they were NOT included in the tariff.   I
don't recall the words "state estimator" (for calculation such GMMs)
ever being uttered by anyone in a WEPEX stakeholder meeting.

"It was only somewhere in mid-1997, when Alex was working on UFE
equations, that Alex (I believe) suddenly came up with the proposal for
ex post GMMs, and the proposal was taken by ISO very quickly (before it
had ANY discussion in SCUG or any other forum), and was adopted by the
ISO Board (or whatever group passed for the Board at that time).
Immediately thereafter, virtually everyone in SCUG .  We were ignored.

"But even in early 1998, we informally agreed that, in light of the
facts (that after-the-fact GMMs were not part of the original "deal"),
after-the-fact GMM implementation would be given low priority and we
would be given opportunity to discuss this issue before ISO moved
forward."

I remember those discussions, Carl.  I wonder if deals made in 1998 have
any meaning today?

==================

The SCE Pilot Forwards Program, a continuing saga for WPTF,  popped up
again this week.  I visited with Commissioner Bilas on Monday to
encourage him to stay the course, and support the ALJ's preliminary
decision to reject SCE's Application, and cancel the hearings on legal
and procedural grounds.  Dick said that he supported that notion, but he
couldn't guarantee that all his colleagues would.

Alas, two days later, Commissioner Joe Neeper, who clearly had too much
time on his hands this week, issued a public statement which is long,
but here is a taste:

"ALJ Hale's Proposed Decision (PD) is structured so that a "Yes" vote
will terminate the proceeding and a "No" vote will continue the
proceeding to hearings and ultimate resolution.;; I have concerns with
the PD.; However, I do not intend to issue an alternate because, should
my concerns not be addressed, I have the option to vote "No" which would
have the same effect as the alternate I otherwise would have written....

"If we vote to allow this application to move to hearings, we can later
determine whether the Application should be approved on overall policy
grounds.  The PD dismisses the Application on the grounds that does not
comply with what is known as the buy/sell requirement for utilities to
sell all of their generation into, and purchase all of their energy
needs for their bundled customers out of, the PX.; I agree with the ALJ
and the Assigned Commissioner that the Application also must be
compatible with the buy-sell requirement in order to be approved, and
that this threshold decision is therefore necessary.....

"The PD concludes that the Application makes SCE's customers more
vulnerable to market power abuse.;In viewing the comments of parties, I
find the concern about market power abuse to be expressed best by
Western Power Trading Forum (WPTF) in its opening brief.; WPTF states on
page 7 that, under SCE's proposal, "ESPs will no longer be able to
compete with utilities on the basis of short-run incremental costs in an
open setting" as envisioned by the PPD.;Thus, "ESPs would find it
increasingly more difficult to compete with an Edison price which was
neither derived from a transparent PX price nor reflective of the retail
market in which ESPs must participate."  ... The PX price is determined
in an open setting, and would continue to be determined in an open
setting under SCE's proposal....I cannot find that the proposal would
violate the PPD by necessarily leading to abuse of market power.  Market
power concerns should be considered, and weighed against consumer and
other interests.; These issues certainly can be explored in greater
depth as policy matters in hearings.

"I do not believe the Application by SCE is in violation of the
Commission's Preferred Policy Decision.; The merits of the Application
should be considered through the hearing process and voted upon by the
Commissioners. "

Well, Mr Neeper, justice isn't free.  A hearing is expensive, and what
your are doing is raising the ante of staying in the
game,unnecessarily.  That supports the incumbents (UDCs), and hurts us.

At the time I am writing this Burrito, I do not know if the Commission
took action on this matter today, or punted it to the July 8 meeting.
I'll keep you posted, next week.

==================

I am sure most of you have seen the press releases which came out last
week.  First, Dynegy and Illinova are merging, and, second, NEV is being
purchased by AES.  Both Dynegy and NEV are Voting members of WPTF.  I
was going to send Illinova a solicitation letter to join WPTF, but now I
think I'll take that off my "to do"list.

In the NEV deal, the AES Corporation announced that it  has entered into
a definitive agreement to acquire New Energy Ventures  in a transaction
valued at approximately $90 million. AES will acquire all of the
outstanding shares of New  Energy Ventures from its current owners,
UniSource Energy Corporation. and New Energy Holdings, L.L.C. (which is
owned by senior  management of New Energy Ventures).

This is an incredible coincidence.  I was just telling someone, I think
it was Dan Douglass, that we ought to give a special award to Nancy Day
of NEV, who is a big fan of the Burrito, and quite possibly, although I
am not certain, one of the senior managers of that lucky corporation.
Well, heck, she has been at NEV from the beginning, so she deserves all
the financial success in the world, and we wish her well.   I just want
to share with all our Burrito readers that WPTF, a tax-exempt,
non-profit corporation, Tax ID 94-3296987, right here in the State of
California, soon to be a CalQED award winner, is looking for donors for
the soon-to-be-announced Executive Director's fund.  Some of you might
not know about this new [slush] fund. It is intended to provide all the
necessary tools and ancillary needs of late night policy pow wows
attended by the usual wonks and otherwise homeless lobbyists who invade
my private hotel room during the WPTF general meeting, and who want to
discuss high level stuff all through the night.  What's an executive
director to do?  So, Nancy, I was just thinking, we could launch this
program in your honor, with your name all over the thing, and get this
very important and much needed program in place.  At least it will pay
for a hotel room for Curtis who consistently falls asleep during these
meetings on my hotel-room couch while Beth Emery is lecturing him.

By the way, if, God forbid, the deal falls through, then forget I wrote
all this.

Have a great weekend.  Think quality.

gba


Mark,

Cynthia Scneider recommended I check with you on the ability of Chinese
government-owned entities to enter into derivative contracts with Enron.  Has
ECT done any research on China?  Please see the e-mail below for details on
counterparty, size, term, etc.

Thanks,
Heather Mitchell
---------------------- Forwarded by Heather J Mitchell/ENRON_DEVELOPMENT on
11/09/98 04:42 PM ---------------------------

Heather J Mitchell
11/05/98 03:36 PM

To:   Cynthia L Schneider@ENRON_DEVELOPMENT
cc:   Doug Leach@ENRON_DEVELOPMENT
Subject:  LNG hedging for China

Cynthia,

The EI LNG Group is looking at providing LNG price risk management for China.
Could you please confirm whether China National Oil Company (Corp.?) and
China State Power Corp. are creditworthy counterparties?  Before Doug and I
talk to the traders I want to see whether we would even be willing to sell
LNG risk management to them.

The structure the group is most likely interested in is 500,000 MT to
1,000,000 MT per year for five to 20 years (depending on what our traders are
comfortable with).  I imagine the Chinese would be interested in a cap or
collar, and not a fixed price.

What other info do you need for a quick estimate?

Thanks,
Heather


Danny:
This completes your direct reports accomplishments.  Please note that two-online contracts (#42895, #42941) were approved by Craig Buehler.
Also that I spoke with HR about the termination letters and big mistake.  Apparently many people received the letters due to massive mailing.  Please note that if you receive letter, it halts your contribution to your savings plan.  I will send out notice to your direct reports in case someone else received same form letter.
Dave Neubauer called in to see if there was any news on Northern.  Word is out that Citibank is ready to proceed on Trading deal.
I saw that you called in today but, when I called you were working out.  I spoke with Ben who told me about the electronic scooter (the coolest thing he got for Christmas).  Everything is fine.  Have a relaxing holiday!

 -----Original Message-----
From: 	Neubauer, Dave
Sent:	Wednesday, December 26, 2001 3:27 PM
To:	McCarty, Danny
Cc:	Armstrong, Julie
Subject:	2001 Accomplishments

Dan,

The attached sheet contains a summary of 2001 accomplishments.  If you need additional details let me know.


That looks right to me.  Dari

Dale Neuner@ECT
10/26/2000 09:37 AM
To: Martha Benner/ET&S/Enron@ENRON
cc: David Forster/Corp/Enron@Enron, Drew Fossum/ET&S/Enron@ENRON, Steve
Kirk/ET&S/Enron@ENRON, Dari Dornan/ET&S/Enron@ENRON, Naveed
Ahmed/NA/Enron@Enron

Subject: Re: TFX Agreement

Please ensure that I have done this as expected and offer your approval, then
I'll send for loading.

MARTHA BENNER @
ENRON
10/26/2000 09:18 AM

To: David Forster/Corp/Enron@Enron, Dale Neuner/HOU/ECT@ECT
cc: Drew Fossum/ET&S/Enron@ENRON, Steve Kirk/ET&S/Enron@ENRON, Dari
Dornan/ET&S/Enron@ENRON
Subject: TFX Agreement

Per Steve Kirk and Drew Fossum please add the following in the "Other"
section of the TFX Agreement:

Shipper agrees that if it utilizes Northern's capacity release program to
release, on either a temporary or permanent basis, any capacity subject to
the discount contained herein at a rate greater than the discounted rate,
Shipper shall receive a demand charge credit only for the amount of the
discounted rate agreed to herein.

(Please forward this message to Naved Ahmed.  Thank you.)

Martha for Dari Dornan


Just wanted to make sure you saw this from Les Rawson concerning Grays Harbor
and Willamette.
-Bill

Beginning immediately Enron has purchased Control Area Reserves service from
BPA.

The allows Services to sell Unit contingent energy as hourly firm since BPA
is suppling reserves for up to 60 Minutes. If Grays Harbor Paper notifies RT
of a unit derate or outage RT should notify BPA dispatch immediately and make
the reduction in the schedule during the next ramp. For example should Grays
unit trip as 1333 RT would notify BPA and the sink that across the top of the
hour for 1400 the schedule would be taken to zero for HE 1400. The bottom
line is that 60 minutes is the maximum time BPA will carry the schedule.

Send me a e-mail concerning any reductions for Grays since the energy would
need to be repaid back within 168 hours.

Also, for May Services sold 10 mw of UC energy to EWEB from Willamette all
hours. As part of this sale Services bought 18 Mw of firm transmission from
PACW to BPAT for all hours. 10Mw of this purchase will be used for the
monthly sale with the remaining 8Mw used for day ahead and hourly sales. The
Assignment Reference # 139990. The cost for this transmission is $2.72 per
hour vs the $5.84 we normally pay for hourly non-firm so hopefully we can
save some money on PAC transmission.

Also, beginning May 1 Services purchased Ancillary Services from PacifiCorp
to allow Willamette's Unit Contingent energy to be sold as 1-hour firm with
reserves. The procedure for dealing with inner hour cuts is similar to Grays
with the exception of not calling PAC RT dispatch. Simply cut or reduce the
schedule at the next ramp and note the derate in a e-mail to Services. This
service adds .43 cents per Mw to the term sale costs. However, this service
applies to Willamette's sales up to 30Mw.

Let me know if there are questions.

Les


Oops, missed a few folks on the reply.  Sorry.  See note below.

 -----Original Message-----
From: 	Dicarlo, Louis
Sent:	Thursday, March 21, 2002 3:55 PM
To:	Panus, Stephanie
Subject:	RE: Belco Oil and Gas Corp.

Thanks for the explanation.  We'll mark Belco Oil and Gas as terminated and inform the risk group so they can move the positions into the correct risk book.

Stephanie: May I suggest that you add a row to the Master Letter Log for the subject CP name and simply note "see Westport Resources Corporation."

Maria: Please update our data and inform risk group.

Thanks to all.

 -----Original Message-----
From: 	Panus, Stephanie
Sent:	Thursday, March 21, 2002 3:38 PM
To:	Dicarlo, Louis; 'bestes@cwt.com'
Cc:	Garza, Maria; Shackleton, Sara
Subject:	RE: Belco Oil and Gas Corp.

Louis,
Last fall Westport and Belco merged, with Westport being the surviving entity.  We had Master Agreements in place with both entities and had not yet reached agreement with Westport as to which Master would remain in place.  Therefore, we received one letter from Westport terminating both Masters.

 -----Original Message-----
From: 	Dicarlo, Louis
Sent:	Thursday, March 21, 2002 3:30 PM
To:	'bestes@cwt.com'
Cc:	Garza, Maria; Shackleton, Sara; Panus, Stephanie
Subject:	Belco Oil and Gas Corp.

In the Master Letter Log (version 3/20/02) Belco is included with the early termination made by Westport Resources Corporation.  We currently have Belco as a live (non-terminated) CP but this may be incorrect.  Please review the Master Letter Log AND the termination provided by Westport Resources to determine whether Belco is included in that early termination.

Thanks

Louis R. DiCarlo
ENA Gas Structuring
Phone: 713-345-4666
Email: louis.dicarlo@enron.com


Subject:? HOW TO SURVIVE A HEART ATTACK WHEN ALONE - REALLY!

Let's say it's 6:15 p.m. and you're driving home (alone of course), after an
unusually hard day on the job. You're really tired,? upset and frustrated.
Suddenly you start experiencing severe pain in your chest that starts to
radiate out into your arm and up into your jaw.

You are only about five miles from the hospital nearest your? home;
unfortunately you don't know if you'll be able to make it that far.?? What
can you do? You've been trained in CPR but the guy that taught the course
neglected to tell you how to perform it on yourself.

HOW TO SURVIVE A HEART ATTACK WHEN ALONE
(Since many people are alone when they suffer a heart attack, this article
seemed in order.)
Without help, the person whose heart stops beating properly and who begins to
feel faint, has
only about 10 seconds left before losing consciousness.? However, these
victims can help themselves by coughing repeatedly and very vigorously.?? A
deep breath should be taken before each cough, and the cough
must be deep and prolonged, as when producing sputum from deep inside the
chest. A breath and? a cough must be repeated about every two seconds without
let up until help arrives, or until the heart is to be beating
normally again.

Deep breaths get oxygen into the lungs and coughing movements squeeze the
heart and keep the blood circulating. The squeezing pressure on the heart
also helps it regain normal rhythm. In this way, heart victims can get to a
hospital.

Tell as many other people as possible about this, it could save their lives!

>From Health Cares, Rochester General Hospital via Chapter 240's newsletter
AND THE BEAT GOES ON ... (reprint from The Mended Hearts, Inc. publication,
Heart Response)
.

Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante"


John:

I have not found anyone who was trying to renew these contracts.  I am meeting with IHS on Thursday so I will make sure we add Accumap.  How many user of Accumap will you need?  I will forward the cost to you prior to sending the contracts to UBS.

Do you know who managed the contracts with NOVA, Power Pool of Alberta, OASIS or ESBI so that I can gather contact information and begin the contract management of these applications.

Thanks,

Danielle

 -----Original Message-----
From: 	Gaskill, Chris
Sent:	Monday, January 28, 2002 11:57 AM
To:	Marcinkowski, Danielle
Subject:	RE: Market Data Applications

I have no knowledge of anyone looking into the resources listed.

Chris

 -----Original Message-----
From: 	Marcinkowski, Danielle
Sent:	Monday, January 28, 2002 11:25 AM
To:	Gaskill, Chris; Will, Lloyd
Subject:	FW: Market Data Applications

Chris / Lloyd:

To answer John's question do you know if anyone is looking into NOVA, Power Pool of Alberta, OASIS, or ESBI ?

Thanks,

Danielle

 -----Original Message-----
From: 	Zufferli, John
Sent:	Monday, January 28, 2002 10:21 AM
To:	Marcinkowski, Danielle
Subject:	RE: Market Data Applications

Danielle, in general we need everything that Houston gets in addition to the info that is listed as Calgary on your spreadsheet.  One information source in not listed on your sheet.

IHS Accumap		Priority 2	Contact: Carmen (403) 770-4503 phone, (403) 874-4218 cell

Can you tell me if anyone in Houston is working on setting up accounts with NOVA, Power Pool of Alberta, OASIS, ESBI?  These are gas and power related entities that we have to have accounts with the schedule physical gas and electricity.

 -----Original Message-----
From: 	Marcinkowski, Danielle
Sent:	Friday, January 25, 2002 2:59 PM
To:	Zufferli, John
Subject:	Market Data Applications

John:

Here are the contracts we are currently creating with UBS.  Please verify that we have not missed any applications/publications or subscriptions.

Highlight in Red the systems you will need and mark the priority from 1-5,  1 being critical.

Thank you,

Danielle

 << File: md.xls >>


This request has been pending your approval for  79 days.  Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000058213&Page=Approval to review and act upon this request.

Request ID          : 000000000058213
Request Create Date : 9/5/01 1:07:01 PM
Requested For       : tammie.schoppe@enron.com
Resource Name       : Global Messaging North America Additional Mailbox Space (25 Meg Increase)
Resource Type       : Applications


Did you get the PSNC invoice?  Can I throw mine away now?


who is not above 500?

 -----Original Message-----
From: 	Underwood, Thomas
Sent:	Tuesday, November 27, 2001 3:40 PM
To:	Love, Phillip M.
Subject:	RE: OU Stadium Renovation

your too late shit head alredy got this email, at least the sooners are above 500

 -----Original Message-----
From: 	Love, Phillip M.
Sent:	Tuesday, November 27, 2001 3:38 PM
To:	Rabon, Chance; Olney, Matthew; Underwood, Thomas; McLaughlin Jr., Errol
Subject:	FW: OU Stadium Renovation

 -----Original Message-----
From: 	Bass, Eric
Sent:	Tuesday, November 27, 2001 2:45 PM
To:	Lenhart, Matthew; Baumbach, David; Ryder, Patrick; Winfree, O'Neal D.; Love, Phillip M.
Subject:	FW: OU Stadium Renovation

 -----Original Message-----
From: 	Logan III, Jackson
Sent:	Tuesday, November 27, 2001 2:08 PM
To:	Giron, Darron C.; Bass, Eric
Subject:	FW: OU Stadium Renovation

HOOK'EM

 -----Original Message-----
From: 	<cameron.moates@us.pwcglobal.com>@ENRON
Sent:	Tuesday, November 27, 2001 2:02 PM
To:	kyle@nanoscale.com; ryanvford@yahoo.com; Mhansen@MDCP.com; hannam@vankampen.com; megan.m.healy@us.arthurandersen.com; adam.hickey@us.pwcglobal.com; johnpkeeton@yahoo.com; jkorman@worldnet.att.net; jlogan3@enron.com; s.s.parker@us.arthurandersen.com; lprieto@uominc.com; schullerg@hdvest.com; Graham.Sones@cit.com; Brian_Thorp@AIMFUNDS.COM; madeofmetal@sprintmail.com; Jon_Wooton@gmaccm.com; andrew.higdon@us.pwcglobal.com; edgar.a.cardenas@us.pwcglobal.com
Subject:	OU Stadium Renovation

Norman (AP)

Oklahoma University Athletic Director Joe Castiglione announced today that
due to recent developments, the renovations at Owen Field are well ahead of
schedule and will come in under costs. Seems over 71,000 fans shit a brick
during the fourth quarter of the bedlam football game, providing the
necessary materials to begin work right away.

----------------------------------------------------------------
The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material.  Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited.   If you received
this in error, please contact the sender and delete the material from any
computer.


Enron is taking FERC Order 888 (open access rule) all the way to the Supreme
Court.  Read about it in eBiz.

Also in this issue:
The Black-Scholes model
Enron Wind and Enron Power Marketing team up
Update on California

It's all in the latest eBiz.  Go to home.enron.com, click Publications, then
click eBiz, and "eBiz March 2, 2001."


Arthur A. Cohen
202-371-7892 (W)
202-371-7896 (F)

Lynn Coleman
202-371-7600 (W)
202-362-8244 (H)

Martin Klepper
202-371-7120 (W)

Robert C. Sheehan
Mng Prtnr, NY
212-735-3350 (W)
212-735-2000 (F)
917-951-3350 (M)

New York Office General Number:
212-735-3000


This is very good work.  You make all the points we need to make without
spraining anything in the process.  You have been doing a superb job under
very difficult circumstances.

On another note:  I don't know if you received my page, but the meeting with
Davis was cancelled so I flew back to Houston.  We are trying to get another
time, perhaps as early as this week.  Davis did meet with Greenspan and
Summers, both of whom we had briefed extensively.
----- Forwarded by Steven J Kean/NA/Enron on 12/27/2000 10:23 AM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	12/26/2000 07:05 PM

		 To: Susan J Mara/NA/Enron@ENRON
		 cc: Alan Comnes/PDX/ECT@ECT, Dennis Benevides/HOU/EES@EES, Eric
Letke/DUB/EES@EES, George McClellan/HOU/ECT@ECT, Harry
Kingerski/NA/Enron@ENRON, James D Steffes/NA/Enron@ENRON, Jennifer
Rudolph/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON, Kevin
McGowan/Corp/Enron@ENRON, Lisa Yoho/NA/Enron@ENRON, Lysa Akin/PDX/ECT@ECT,
Mary Hain/HOU/ECT@ECT, MDay@GMSSR.com, Mike D Smith/HOU/EES@EES, Paul
Kaufman/PDX/ECT@ECT, Richard Shapiro/NA/Enron@ENRON, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Roger Yang/SFO/EES@EES, Sandra
McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott
Stoness/HOU/EES@EES, skean@enron.com, Stuart Staley/LON/ECT@ECT, Vicki
Sharp/HOU/EES@EES, Wanda Curry/HOU/EES@EES
		 Subject: Re: DRAFT talking points for California PUC Hearings on the
27th/28th

You're right, Sue.  Rates can't go up w/out declaring the rate freeze over in
some fashion---trying to finesse it.  Thanks very much for the comments.
Harry also had a good comment---don't specify the amount of rate increase in
our comments; rather note that the rate increase needs to be well-reasoned
and based on facts and evidence.  Will make that change.

	Susan J Mara
	12/26/2000 06:43 PM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: Alan Comnes/PDX/ECT@ECT, Dennis Benevides/HOU/EES@EES, Eric
Letke/DUB/EES@EES, George McClellan/HOU/ECT@ECT, Harry
Kingerski/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Jennifer Rudolph/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@Enron, Kevin McGowan/Corp/Enron@Enron, Lisa
Yoho/NA/Enron@Enron, Lysa Akin/PDX/ECT@ECT, Mary Hain/HOU/ECT@ECT,
MDay@GMSSR.com, Mike D Smith/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Richard
Shapiro/NA/Enron@Enron, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Roger Yang/SFO/EES@EES, Sandra
McCubbin/NA/Enron@Enron, Sarah Novosel/Corp/Enron@Enron, Scott
Stoness/HOU/EES@EES, skean@enron.com, Stuart Staley/LON/ECT@ECT, Vicki
Sharp/HOU/EES@EES, Wanda Curry/HOU/EES@EES
		 Subject: Re: DRAFT talking points for California PUC Hearings on the
27th/28th

Jeff,

This looks good.  It comes across as moderate in tone-- although probably no
one else will ask to leave the rate freeze in place.

I have a legal question -- Under AB 1890, I don't see anyway that the CPUC
can raise rates without ending the rate freeze first.  Am I missing
something? So, how is it clear that the CCPUC can raise the rates on Feb 1?
It's clear,however,  that once the retained assets are valued that the rates
can be changed.

	Jeff Dasovich
	Sent by: Jeff Dasovich
	12/26/2000 01:15 PM

		 To: Jeff Dasovich/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT, Dennis
Benevides/HOU/EES@EES, Eric Letke/DUB/EES@EES, George McClellan/HOU/ECT@ECT,
Harry Kingerski/NA/Enron@ENRON, James D Steffes/NA/Enron@ENRON, Jennifer
Rudolph/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON, Kevin
McGowan/Corp/Enron@ENRON, Lisa Yoho/NA/Enron@ENRON, Lysa Akin/PDX/ECT@ECT,
Mary Hain/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Richard
Shapiro/NA/Enron@ENRON, Roger Yang/SFO/EES@EES, Sandra
McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott
Stoness/HOU/EES@EES, skean@enron.com, Stuart Staley/LON/ECT@ECT, Susan J
Mara/NA/Enron@ENRON, Vicki Sharp/HOU/EES@EES, Wanda Curry/HOU/EES@EES,
MDay@GMSSR.com, Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mike D
Smith/HOU/EES@EES
		 cc:
		 Subject: DRAFT talking points for California PUC Hearings on the 27th/28th

Attached is a draft of the talking points for the Commission's hearings.  Few
points:
Our time is likely to be limited to 5-10 minutes.
Mike Day, our outside counsel, will make the presentation on our behalf.
Mike Day is fleshing out the legal details of our presentation and he will
forward that along for folks review later today.
Comments can be forwarded to me via email, pager (888.916.7184), voicemail
(415.782.7822), or home (415.621.8317).
We will finalize the message points on tomorrow's daily call (10 AM CST).
The call in number is 800.713.8600.  Code is 80435.
The Commission's hearings begin tomorrow at 10 AM (PST).


As requested.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 10/30/2000
12:23 PM ---------------------------

	From:  Tim Belden @ ECT                           10/27/2000 05:40 PM

To: John J Lavorato/Corp/Enron, Dave Delainey, Mike Swerzbin/HOU/ECT@ECT,
Robert Badeer/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT,
Jeff Richter/HOU/ECT@ECT, Diana Scholtes/HOU/ECT@ECT, Tom Alonso/PDX/ECT@ECT,
Mark Fischer/PDX/ECT@ECT, John M Forney/HOU/ECT@ECT, Paul Choi/SF/ECT@ECT,
John Malowney/HOU/ECT@ECT, Holli Krebs/HOU/ECT@ECT, Greg Wolfe/HOU/ECT@ECT,
Chris H Foster/HOU/ECT@ECT, Stewart Rosman/HOU/ECT@ECT, Kim Ward/HOU/ECT@ECT,
Debra Davidson/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT, Lester
Rawson/PDX/ECT@ECT, John Zufferli/CAL/ECT@ECT, James D
Steffes/NA/Enron@Enron, Mary Hain/HOU/ECT@ECT, Christopher F
Calger/PDX/ECT@ECT, Dave Parquet, Phillip K Allen/HOU/ECT@ECT, Vladimir
Gorny/HOU/ECT@ECT, Monica Lande/PDX/ECT@ECT, Elliot Mainzer/PDX/ECT@ECT, Tim
Heizenrader/PDX/ECT@ECT, Cooper Richey, Stephen Swain/PDX/ECT@ECT, Susan J
Mara/SFO/EES@EES, Steven J Kean/NA/Enron@Enron, Mark Palmer/Corp/Enron@ENRON
cc: Debra Davidson/PDX/ECT@ECT

Subject: Price Caps

The following summarizes recent price cap events in California.  I think that
I have most of it right.  If there is anything wrong or missing please let me
know.  Please don't share the attached spreadsheet with anyone outside of
Enron.

Regards,
Tim

New Cap Specifics
On 10/26/2000 the ISO Board passed a motion by a vote of 13-10 to implement a
new price cap methodology.
The new methodology will become effective 11/3/2000 or as soon thereafter as
can be implemented.  CAISO staff has indicated that it will be difficult to
achieve that start date.  They have not yet indicated what an achievable date
might be.
The new price cap methodology will remain in place until:
Comprehensive market changes have been implemented and the market has proven
to be workably competitive under a variety of load conditions.
Either FERC or the ISO board orders its removal.
Cap prices will be based on the average NYMEX L3D settlement average and the
following heat rate table:
  Load Level  Heat Rate  4.00 Gas Example Cap
  <25 GW   10,775   $43.10
  25 GW to 30 GW 14,175   $56.70
  30GW to 35 GW  17,225   $68.90
  35GW to 40 GW  27,225   $108.90
  >40 GW   $250/MWh  $250/MWh
Caps will be rounded up to the nearest $5/MWh increment.
Demand bids and demand responsiveness programs are exempt from these caps.
The ISO will post the price caps for each load level at least 48 hours prior
to the beginning of each calendar month.  Based on the ISO's two day-ahead
system load forecast, the ISO will post hourly caps at least 24 hours prior
to the hour of delivery.

FERC Context
FERC has delegated cap authority to the CAISO until 11/15/2000.
The ISO has asserted that they don't need FERC authority since it is a bid
cap rather than a sales cap.  FERC regulates sales, not purchases, of
electricity and therefore can regulate sales prices but not purchase prices.
The ISO has filed with FERC for an extension of the price cap authority.
FERC has to rule on the filing by 11/18/2000.  (Note that this is 3 days
after their authority expires)
FERC will release its proposed order on 11/1/2000 based on the results of its
206 investigation of the California wholesale power markets.  We don't know
what they will find or what they will propose.
The proposed order will have a 30 day comment period, after which FERC will
likely issue a final order.  FERC will be accepting oral comments on
11/9/2000 in Washington.  Enron still has to determine who will provide oral
comments.
Many companies have filed at FERC advocating or opposing a litany of price
caps, cost based rates, and market redesign recommendations.
It is likely that the price caps approved by the ISO board will go into
effect.  How long they will remain in effect will depend on whether FERC
extends the ISO price cap authority and whether the final order stemming from
the current 206 investigation stipulates a specific price cap policy.

Impact of Price Caps
The attached spreadsheet contains a table of likely maximum monthly prices at
different gas price levels.  We think that this is the highest that markets
would clear since it assumes that each hour clears at the cap.  It is hard to
say whether actual prices would clear significantly lower than the cap
because we don't know whether sellers will offer below the cap or at the
cap.  The assumptions behind our analysis are detailed in the bullets below.
Take actual historical loads from 1999 and 2000.
Calculate implied price cap for each hour using actual historical load, new
price cap methodology, and a range of gas prices.
Divide historical hours into peak and off-peak buckets.
Calculate average price for each month for peak hours and off-peak hours.
For example, we have two years worth of data for the months of January
through September.  Each month has approximately 400 hours.  for January
through September, we took approximately 800 observations for each month (400
from each year) and calculated a simple average of all of the individual
observations.
We created a peak table and an off-peak table.  The table shows the
calculated implied cap based off of the acutal loads at varying gas prices
for each month.  This value represents what the month would clear at if each
hour cleared at the cap (based on historic loads).  While any given hour
could be above this value, our calculation estimates the likely monthly
average cap value!
The blue shading indicates what the caps would be given current (10/27/2000
NYMEX) forward prices.  The yellow shading indicates those forward power
prices which are in excess of the proposed cap.


Happy reading!
---------------------- Forwarded by Kate Symes/PDX/ECT on 03/23/2001 08:47 AM
---------------------------

	From:  Ken Lay and Jeff Skilling @ ENRON                           03/13/2001
02:17 PM

Sent by: Ken Lay and Jeff Skilling@ENRON
To: All Enron Worldwide
cc:

Subject: California Energy Crisis

California,s power crisis has generated heated debate over the last several
months.  Unfortunately, this debate has generated more heat than light.  We
want you to know what the facts are and what we are doing about the crisis.
Please spend a few minutes reading the following overview on the situation
and our position on California energy issues.

What happened in California

The source of California,s current problem is as straightforward as supply
and demand.  California,s economy grew 29 percent since 1998.  This increased
the demand for electricity by 24 percent.  At the same time, regulatory
restrictions prevented new generation from getting built in the state.  So
demand grew but regulations prevented supplies from being added.  The result,
predictably, is a shortage.  This summer, peak capacity will be about 10
percent shy of peak demand, leading to further blackouts in the state.

In addition to the supply and demand imbalance, there are two other related
factors that led to the current crisis.  First, the state,s regulations
forced all sales and purchases into the spot market.  The spot market for
power is extraordinarily volatile.  The way firms behave in a free market
when faced with such volatility is to construct a portfolio of purchases long
term, medium term and short term, to reduce exposure to this volatility.  In
California, state regulation prevented this strategy.  This would be the
equivalent of putting the entire state on an adjustable rate mortgage in the
most volatile interest rate environment imaginable.  Everything was fine
while the power surplus persisted, but when shortages ensued, every megawatt
was purchased at the sky rocketing spot price.

Second, retail markets were not deregulated.  Regulated retail rates remained
in effect, and stranded cost recovery charges were structured to keep
competition out.  This meant that utilities were forced to pay high wholesale
prices in the spot market but were only able to recover costs at the
regulated retail rate.  They are now nearly bankrupt.

In short, California,s problems were caused by regulation, not deregulation.
Regulations prevented competitors from entering the market, prevented new
generation from being built, and prevented prudent hedging against volatile
spot prices.

At the time California was developing its restructuring plan, Enron warned
the state,s policy makers about these risks and proposed alternatives, which,
if adopted, would have averted the current crisis.

Enron,s Role

Many political leaders in the state have elected to fix blame rather than fix
the problem.  Power sellers, including Enron, have been vilified by the
politicians and the media.  Here are the facts:

? Other than a small amount of wind power, Enron is not a generator in the
state of California.  Every megawatt we sold in California we bought in the
same market available to other California purchasers.  Because we are a
market maker, not a generator, we are not biased toward high prices.  We are
interested only in having a market that works so that we can package products
for our customers.
? As a seller to end-use markets in the state, we provided protection from
the problems the states, utilities, and their customers, now face.  We
protected, and still protect, our customers from price volatility.

You may have read that EES recently elected to have the utilities supply
power directly to its customers in California instead of procuring power on
the open market.  Early reports mischaracterized this as a &turnback8 of our
customers to the utilities.  Here are the facts:

? As a result of a variety of factors existing in the current California
market, it made more sense for EES to source power for its customers directly
from the utilities.  This decision reduced EES,s market price risk by
allowing EES to access lower utility rates.
? EES did not terminate any customer contracts, and our customers continue to
receive the financial benefits of their contract prices.
? EES is continuing to work with its California customers to provide them
with other energy-related products and services, including assistance in
reducing the demand for power, particularly at peak times.

Enron is currently proposing solutions to help California work out of its
crisis; Enron continues to sign up customers in the state; and Enron
continues to actively manage its risks and capture opportunities in Western
power markets.  Enron,s primary business is managing risk for our customers
with solutions customized to meet their needs.  There has never been more
demand for our products and services.

The Solution

The solution to California,s crisis is also straightforward.  In summary, the
state must increase supply, reduce demand, reduce reliance on the spot market
and shore up the financial stability of the state,s utilities.

Increasing Supply

California,s process for siting and permitting new generation is nothing
short of Byzantine.  Enron has built plants elsewhere in the country in less
than a year.  In California, it often takes 5 to 7 years.  California simply
must streamline this process.  Ironically, while many of the regulations
generators must overcome are aimed at improving environmental quality, the
regulations are preventing new clean technology from coming online and
displacing current plants, which emit 40 times as much NOx.  California can
have abundant power and cleaner air by expediting the permitting of new
facilities.

Reducing Demand

Customers in California today have no incentive to reduce or shift demand.
They pay the same rate no matter what the market price is.  An open retail
market would trigger demand responses, which would balance supply and demand
at lower prices than today.  California should fully open its retail market.

Reducing Reliance on the Spot Market

In a truly deregulated market, customers would protect themselves from
volatile spot prices by purchasing some of their requirements on a longer
term, fixed-price basis.  The state has instead left procurement in the hands
of the utilities, which it has forced to buy exclusively in the spot market.
Opening the market at the retail level will give customers control over their
price risk.

Restoring the Financial Integrity of the State,s Institutions

The utilities in California are not paying their bills.  This has led to
greater uncertainty in the market, higher costs, and reduced flexibility to
arrive at lasting solutions.  California must permit its utilities to recover
their costs so they can pay their bills and invest in the transmission and
distribution assets necessary to get power from where it is to where it is
needed.

Just as important as doing these things, the state must avoid policies that,
while politically attractive, do not fix the problem or even make matters
worse.  Price caps have been proposed.  They don,t work; have never worked;
and they will not work here.  Price caps succeed only in creating shortages,
which then have to be allocated among competing users.  Imagine how
ineffectively the government would be in determining, for example, whether it
is better to make its limited power supplies available to the Imperial Valley
or Silicon Valley.  Price caps are a surefire way to make the current
shortage worse.

The state has also proposed to take over generation and transmission in
California.  There is no reason to believe, and every reason to doubt, that
the state will be more effective than free markets at investing in,
constructing, operating and maintaining assets.  This will also result in
California tax revenues being spent on power transmission and power
generation -- which the private sector can do -- instead of education, roads
and other public goods -- which the private sector cannot do.

As you are approached by people outside the company or are learning about the
crisis from the media, it,s important for you to know this:  We at Enron will
continue to serve our customers and we will continue to propose real
solutions to the state.


Debra -

Attached is a worksheet for a new Master Firm, with e prime Energy Marketing, Inc.

Can you please prepare a draft at your earliest convenience and email to Dave Fuller (Enron - Portland) for further handling to counterparty.

Thanks,

Jay


Hi Darrin,

This is what Mark McCoy sent me about the Cornhusker Deal.  Please review and
if there is anything else that Rita Wynne or I need to know about this deal,
just shoot me an e-mail!

Thanks for calling me back!

Happy Thanksgiving,

Kathy

---------------------- Forwarded by Katherine Benedict/HOU/ECT on 11/22/2000
11:19 AM ---------------------------

Mark McCoy@ENRON
11/22/2000 08:12 AM
To: Katherine Benedict/HOU/ECT@ECT
cc:
Subject: Cornhusker

Kathy-----Here is what I know about Cornhusker:

Our supply comes from Apache & Williams

Our market typicially is the plant (Tenaska IV Partners)
If the plant is down, Brazos Utility has the right to the gas if they want it
If Brazos does not call for the gas, then we will sell off to whomever we can

We just get a flat fee on this gas per MMBtu, whether it goes to the plant or
not

Daren Farmer knows the specifics about the deal

Hope this helps, call with any questions.

Mark
x33396


Dear Ms. Kitchen,

You are a strong contender to be on Fortune?s list of the 50 Most Powerful
Women in Business this year. Please take a moment to make our Powerful
Women issue as engaging and fun for our magazine readers and website users
as it has been for us. By answering the following questions, you can help
us to get a better sense of you and your busy life.

Please e-mail the information back to alynda_wheat@fortunemail.com by the
end of the day on September 14. We realize this doesn?t give you much time,
but this will go a long way to making our coverage more accurate and
enjoyable.
Sincerely,

Vera Titunik
Senior Editor
Fortune

Date of birth

Where did you go to college? Graduate school? Please provide the names of
your educational institutions, indicating graduate or undergraduate level.

What was your undergraduate major?

How long have you been at your company?

How many times have you changed jobs or been promoted in the past five years?

What was your very first job?

What is your marital status?

If you are married, what does your husband do for a living?

Do you have children? How many?

What is your greatest passion outside of work?

Was your mother employed outside of the home?

When was your last vacation and where did you go?

Please finish this sentence, "I can't live without my ______________."


I think that this sounds like a good plan.  Since Michelle, Clay and Nadege
are still pending on their fulltime offers, this should help us in the
cultivation effort.  --Sally

	Enron North America Corp.

	From:  Lexi Elliott @ ENRON                           03/09/2001 03:38 PM

To: Mike McConnell/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT
cc: Jody Crook/Corp/Enron@ENRON, Jacqueline Coleman/NA/Enron@ENRON
Subject: OU Scholarships

Mike and Sally:

As you know, I attended the AAPL scholarship interviews conducted Tuesday,
March 6 at OU.  Of the 23 students which interviewed, 3 are current or former
Enron interns (Clay Shamblin, Michelle Terry, and Nadege Assale).

I have designated $1500 from my budget to be awarded at the EM Spring Awards
Banquet which will be held April 20 on campus.

I met with Jody Crook yesterday, and it is our recommendation to award $500
to Clay, Michelle, and Nadege.  I think this will help impress upon the
students how Enron values its interns.

The remaining candidates which interviewed ranged from Freshmen to Seniors,
and I do not feel that awarding them money at this point would necessarily
improve our success on campus.

I look forward to your feedback.

Regards,

lexi


Michael, I think you mean Price Process Parameter Esimator.
It is under O:\Research\Exotica\Prices\Reversion97_trend.xls

Tanya

"Michael SCHILMOELLER" <Michael_Schilmoeller@pgn.com> on 05/11/2000 05:04:20
PM
To: ttamarc@enron.com
cc: gmasson@enron.com, vkamins@enron.com, Mike_Niman@pgn.com
Subject: Price Process Simulator

Hi Tanya,

Hope things go well for you.  Can I get a copy of the price process simulator
you wrote?  It would be helpful in developing a plant dispatch module for
MONET, the power systems simulation model I co-authrored.

Thank you,
Michael


Sally:
Long time no see.

Wanted to congratulate you on your recent promotion.  Way to go.

Richard Weeks
ENRON BROADBAND SERVICES
PURCHASING PROCESSING MANAGER
OFFICE:713-853-6995
   CELL:713-516-2581
EMAIL:RICHARD_WEEKS@ENRON.NET


Daren/O'Neal,

Effective 1/18/01, deal ticket 137205 has been adjusted from a daily volume
of 2,773 to 25.  The meter # is 9748 and the trade zone is 10.

Bob


Mr. Kaminski,

Thank you so much for your help in this matter.

Jan

 -----Original Message-----
From: 	Kaminski, Vince J
Sent:	Wednesday, November 07, 2001 5:39 PM
To:	Cooley, Jan
Cc:	Kaminski, Vince J
Subject:	RE: LJM Litigation

Jan,

Yes, if this is the procedure.

Also, you will receive tomorrow hard copies of the documents
that I have compiled.

Vince

 -----Original Message-----
From: 	Cooley, Jan
Sent:	Wednesday, November 07, 2001 5:19 PM
To:	Kaminski, Vince J
Subject:	RE: LJM Litigation

Mr. Kaminski,

Are these the folders in your LotusNotes that we should have burned to CD's for the document production?

 -----Original Message-----
From: 	Kaminski, Vince J
Sent:	Wednesday, November 07, 2001 5:08 PM
To:	Cooley, Jan
Subject:	LJM Litigation

Jan,

Please, check the following Lotus Notes folders for information
relevant to the LJM litigation:

1. UntitledMartin
2. TRSWAPS

Vince Kaminski


fyi - we are now distributing the "John Lavorato" report to all of the desk
heads per Jeff Shankman.  And....now Lavorato wants it for Power as well.
Good thing I found someone to fill our vacancy on the reporting team!

Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 06/19/2000 03:49
PM ---------------------------

From:  Matt Motsinger
    06/19/2000 03:29 PM

To: Hunter S Shively/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Thomas A
Martin/HOU/ECT@ECT, Fletcher J Sturm/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT,
Scott Neal/HOU/ECT@ECT
cc: Jeffrey C Gossett/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Jennifer deBoisblanc Denny/HOU/ECT@ECT, Torrey
Moorer/HOU/ECT@ECT
Subject: Average EOL and NON-EOL deals per day

As requested by Jeff Shankman, here are the average EOL and NON-EOL deals
broken out by month and region since EnronOnline launch (11/29/99). Region
breakout is based on deal location and pub code. This report will be sent out
at the beginning of each week. It will include data as of the last business
day of previous week.

If you have any further questions, please contact Torrey Moorer x36218 or
myself x35221.

Matt Motsinger
EnronOnline


Thank you all for taking the time to complete the questionnaire.  Your
comments are really helpful.

The books that I promised you will be arriving early next week so I will get
you a copy as soon as it is available.

Thanks again for your participation and feedback!
Amy


Randy,

  The creme jacket has been ordered with the 'E' Logo and  'West Gas
Logistics' in tan (matching the color of the inside jacket).
   It will arrive the week of December 11th.

  I ordered (2) Medium, (14) Large, (1) XLarge, (2) XXLarge @  $155.75. +
$4.00 (XXL) = $2963.25.
  Kerri was unsure if they charged tax or if it was included.  She will not
know the shipping until
  after the jackets arrive and she receives the invoice.

   Also, for future reference, I am including the 'guest list' :   )  Heather

   Jackie Adam - M
   Jan Sutherland - M
   Stacey Brewer - L
   Ted Evans - L
   Suzanne Christiansen - L
   Shelly Mendel - L
   Patti Sullivan - L
   Matt Smith - L
   Bob Superty - L
   Brandee Jackson - L
   Heather Choate - L
   Alex Saldana - L
   Kim Olinger - L
   Randy Gay - L
   Phillip Allen - L
   Tori Kuykendall - L
    Hillary Mack - XL
    Bob Hall - XXL
    Mike Grigsby - XXL


Tana:

Please prepare a bilateral NDA (based upon the Enron Net Works form) between
EnronCredit.com Limited and Oracle Corporation.  Delete any references re the
EOL web site from the form and revise the term of the confidentiality
obligation to 2 years from the date of disclosure of the Confidential
Information.  Forward the NDA to George Zivic when it is ready to go out.
George would like to distribute to Oracle today if possible.  He needs an
executed agreement in place for a Monday meeting.

Leslie


J:

It's done - though Steve is/was sick & is sending it to you.  I will push it
out the door.

J

Jeff.Dasovich@enron.com wrote:

> how's the memo coming?
>
>
>                     Jeremy Meier
>                     <jermeier@eart        To:     jdasovic@enron.com
>                     hlink.net>            cc:
>                                           Subject:     ICA Memo
>                     01/02/2001
>                     11:56 AM
>
>
>
> Jeff:
>
> Got your voice mail this weekend, and Steve wanted to add a couple short
> items to our ICA analysis memo before sending it to you.  We should have
> it to you today (soon).
>
> Hope the New Year looks bright -
>
> Jeremy Meier
> Blumenfeld & Cohen


Brothers,
    My youngest son Joe, a Beta pledge at Auburn, called me last night to
inform me their chapter's charter has been revoked, effectively ending 34
years of Beta's at Auburn.  At a recent costume party, several pledges (Joe
NOT being one of them) decided it would be funny to mock the all black
fraternity on campus by painting their faces black and wearing that frat's
letters.  As unbelivable as it seems, that one act set off a chain reaction
in Oxford and the General Secy flew down and, in a two sentence statement,
ended life for the Betas as they once knew it.  The incident coincided with
the Delta Sig chapter doing something even more stupid at a separate party
on a separate day where pictures showed up on the internet by their party
photographer of three D Sigs dressed as a black, a KKK clansman and a
Confederate soldier, all looking as if they were trying to hang or shoot the
black.  Brilliant huh???  That incident really got the student body in an
uproar and then the Beta deal came to light about the same time and bam,
goodbye Betas.
    I only tell the story here because there have been many news coverages
of both events across the country, making the Betas look like they were way
out of line when, in fact, it was pretty harmless and the black fraternity
really was only tremendously upset with the D Sigs.  Joe, his pledge
brothers, and the actives are in shock at the severity of the decision by
Oxford and I must admit, so am I.  If any of you out there have any ideas on
what to do about it, I certainly would welcome them.  Joe was really falling
in love with that chapter and it had a ton of campus leaders in it, much
like Gamma Omega did once upon a time.  My feeling is that the chapter
deserved some serious and accountable disciplinary punishments and the
chapter agreed what they did was stupid and in horrible taste, but to
abolish a 34 year old, 120 man chapter for the actions of a few????? I'm
really pissed.

Yours in -kai-,
Drow

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp

------------------------ Yahoo! Groups Sponsor ---------------------~-->
Universal Inkjet Refill Kit $29.95
Refill any ink cartridge for less!
Includes black and color ink.
http://us.click.yahoo.com/1_Y1qC/MkNDAA/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/


Thanks for the note.  Just pass on my concern for Clarissa and hope for her
improvement.

	Fiona Stewart
	10/19/2000 06:44 AM

		 To: tana.jones@enron.com
		 cc:
		 Subject: Michael Brown

Hi Tana

Michael has asked me to get in touch with you to apologise for not contacting
you earlier and to say that unfortunately Clarissa is very ill and in and out
of hospital so he will not be able to contact for the next couple of weeks.
Consequently, he will not be in the office the  rest of the week and will
also not be in next week.  He is not picking up his emails but is picking up
voicemails.  If you would like me to pass any message on to him, please just
email me or call me on 0207 783 7212.

Thanks
Fiona


Thanks Mark--we'll take a look at this information and be ready to discuss
with you guys.  I'll take the lead on getting a new meeting set up.  DF

Mark Knippa@ECT
02/05/2001 05:28 PM
To: Drew Fossum/ET&S/Enron@ENRON
cc: Susan Scott/ET&S/Enron@ENRON, Gerald Nemec/HOU/ECT@ECT, James
Centilli/ET&S/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron

Subject: Gallup Station - Demand Rebate

Hey Drew,

Sorry that we did not get to meet last week when you were in town.  I have
pulled up some information on the project performance and wanted to share
with the group.  I was very concerned by the comment that the project was on
a rate to cost TW an additional $1.0 million for the year because the demand
avoidance program was not in place.  I do want to confirm that Arnold
Eisenstein at ET&S working on the development of the programming to support
TW's efforts to minimize demand expenses.  It was my understanding during the
development of this project, that TW was targeting a 75% avoidance for an
annual basis.   I offer the following details regarding the actual operation
of the station in 2000.

Peak load for 12,000 hp = 9,621 kw x 3 = 28,864.0 kw per Quarter

Actual Utilization
   3rd Quarter 2000      % of Max  4th Quarter 2000  % of Max
 kw - generation   22,684.8      78.6   17,779       61.6
 kw - transmission 25,421.0      88.1   22,992       79.6

 Target $'s @ 75% 99,142      75.0            73,480      75.0
 Net Actual Rebate  $'s 75,935        78.6                105,181        61.59
  difference            ($23,206)                  $31,702

Overall net for 2000 under Rate 21 appears to reflect that TW has saved
$8,496 above their target rebate of $170,622 (75% avoidance) for the 3rd and
4th quarters.  In addition, ECS has made payment to TW under Rate 19 that
resulted in an additional $118,441 paid to TW.   Note that ECS has proposed
to included the transmission demand in the Rebate process which is not
specifically addressed the Compression Service Agreement.

Currently TW has access to the web site that graphically displays the current
Tri-State generation load as well as several years of month by month
history.  This access was conveyed to TW as soon as the confidentiality
agreement between TW, ECS and Tri-State was executed and delivered to ECS.
At this point, EE&CC (now under ET&S) was notified that the system access was
available to package the load monitoring programming.  As I mentioned above,
that effort is underway.

I will be glad to meet and/or discuss these issues when you are available.  I
will be travelling most of the next (2) weeks but you can reach me via email
or my
cell phone (713) 851-7703.   Based on the information that I was able to pull
together, I just don't see the magnitude of dollars that seems to have TW
concerned.
I would like to discuss at your earliest convenience.

Thanks,
mk