The product long description below will fall under the new product type CAN
Gas Straddle Option.  Credit (Tom Moran) has approved copying the profiles
for the new product type from the following:

 US Financial Option Call

Please respond no later than 10:00 a.m. Wednesday, April 4.

Thank you.
---------------------- Forwarded by Lisa Lees/HOU/ECT on 04/03/2001 04:34 PM
---------------------------

Chris Walker
03/30/2001 01:43 PM
To: Jeff Blumenthal/Enron@EnronXGate, Susan Musch/Enron@EnronXGate, Bjorn
Hagelmann/Enron@EnronXGate, Frank Hayden/ENRON@enronXgate, Mark
Taylor/HOU/ECT@ECT, Tom Moran/Enron@EnronXGate, Dianne Seib/CAL/ECT@ECT
cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron,
Tara Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Torrey
Moorer/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON, Melba
Lozano/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Savita
Puthigai/Enron@EnronXGate
Subject: Product type approval needed! (CAN Gas Straddle Option)

Your approval is needed for the following product type in Datamanager.
Please see the steps for approval below.

CAN Gas Straddle Option (product type description)

CAN NG Stdle Opt  (product short description as it appears on the Website)

A financial Option Transaction with Enron Canada Corp., under which the
Seller receives the Premium and the Buyer receives the Cash Settlement
Amount. Each calendar month during the Term of the Transaction will be a
Determination Period, provided that if the Term of the Transaction is less
than one calendar month the Determination Period shall be the Term of the
Transaction. The Notional Quantity per Determination Period shall be
calculated from the volume submitted by Counterparty on the Website in
accordance with the unit of measure. The Premium shall equal the product of
(i) the price submitted by Counterparty via the Website, multiplied by (ii)
the Notional Quantity per Determination Period, multiplied by (iii) the
number of Determination Periods during the Term of the Transaction. The
Payment Date for the Premium shall be 2 business days after the Trade Date of
the Transaction. The Payment Date(s) for the Cash Settlement Amount shall be
5 business days after the Cash Settlement Amount is determinable. The Cash
Settlement Amount for each Determination Period shall be the product of (a)
the Notional Quantity per Determination Period, multiplied by (b) the
absolute difference between the Strike Price and the Index.
The Index for each Determination Period shall be the "AECO Monthly Index",
where: "AECO Monthly Index" means the price in the "Avg" column published in
the table "Canadian Natural Gas Supply Prices", in the Canadian Gas Price
Reporter, in the row for "Alberta: AECO "C" & NIT One-Month Spot" for the
month in which the applicable Determination Period occurs.
The price is quoted in Canadian Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be gigajoules and
the quantity shown shall be in GJs per day.
The Option Style is European, and the Option Type is a Straddle (the
simultaneous purchase or sale of Calls and Puts at the specified Strike
Price).
Automatic Exercise is Applicable.
The Strike Price for the Transaction shall be as set forth in the  product
short description on the website.

STEPS FOR APPROVAL:

click the  START button
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE:  Right mouse click on "Approved"


Louise:  I received a call from Jeff Blumenthal (Houston tax) who would like
to be included in the meeting.  His availability is Friday only.  Thanks.
Sara

	Louise Bird
	10/25/2000 02:59 AM

		 To: Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Stephen H
Douglas/HOU/ECT@ECT
		 cc:
		 Subject: Meeting with Janine Juggins

Janine would like to meet with you all when she is in Houston on either the
2nd or 3rd November.  The meeting will be on Global Trading and in particular
Global Books.

Could you please let me know your availability for those 2 days.

Thank you
Louise


PennFuture's E-cubed is a commentary biweekly email publication concerning the current themes and trends in the energy market.
---------------------------------
September 26, 2001
Vol. 3, No. 18

Straight to the Source

Last year when PECO Energy and Unicom merged to form Exelon it was big news. Importantly, the merger settlement provided $32 million to fund the development of renewable energy in Pennsylvania.

This year, the company's wholesale trading and marketing unit, Power Team, presented renewable energy advocates with a big surprise - signing long-term contracts to purchase the output of three new wind farms in Pennsylvania. These contracts were not required as part of the merger settlement, and are not included in the $32 million earmarked for renewable energy funding.

Now a key force in renewable energy development in the East, the Power Team contracts are essential to bringing 78 MW of generation online from these new wind farms, two of which will be operational next month. The 15 MW Mill Run wind farm is scheduled to being operation next week, and the 9 MW Somerset wind farm is scheduled to begin commercial operation the following week.

Mike Freeman, the Power Team trader who made the burgeoning wind energy business in Pennsylvania possible, gave us some insight into Exelon's renewable energy commitment as well as how wind energy can be integrated into America's power grids.
---------------------------------
What's in Power Team's renewable portfolio?
We have 525 MW of hydro that is not pumped storage, 150 MW of wind, 100 MW of landfill methane, 35 MW of Municipal Solid Waste, 20 MW of wood waste, and 16 MW of scrap tires.

All of the wind is Green-e certifiable as "new" resources. All of the landfill methane is qualified under Green-e, but only 10 MW is new generation. Of the hydro, all of the generation is in larger projects that have been or are eligible for certification under the low-impact hydro standards. The MSW and tire projects are not qualified under Green-e, but the biomass plant is.

Why is Power Team developing a renewable portfolio?
There were two principal reasons: a perceived demand for renewable energy products in the wholesale marketplace, and a desire to diversify our portfolio from the perspectives of fuel, emissions, and cost.

Was there internal resistance or other issues to overcome?
I think the initial reaction was that renewable projects would be a very minor sidelight to our overall business. I don't think many people paid attention to the implications of renewable portfolio standards or external corporate mandates for renewable purchases. Part of the hands-off approach was due to, I believe, a sense that renewable products only meant the re-packaging of existing generation, not changing the power system in any way.

Over time I think many people got comfortable with the idea that the creation of products potentially could initiate new projects that would change the power system. For me that's the most important part of our participation - to help encourage new development. I also think that management began to get comfortable with the idea that renewable energy products could be profitable, and that demand for these products could be sustaining.

Will this encourage new development?
Generators get a creditworthy counter-party that is not only willing to buy all of the energy at the generator location, but is also willing to talk about additional new projects. Over time, other market intermediaries such as power marketers and retail suppliers may become interested in doing the same. If this chain of events occurs, I think we may even see renewable credits traded over the counter, just like other energy products now.

How do renewables fit into Power Team's overall business strategy?
We are a growth company and are constantly in search of ways to sensibly increase our overall generating portfolio. So bringing on new renewable generation into our supply mix really is part of that overall strategy. More specifically, we believe there is sustainable demand for renewable energy, not only because of mandates such as renewable portfolio standards, but also because of natural demand. The average person may not think of it this way, but in supporting the idea of paying a premium for renewable energy I think that people implicitly are accepting the notion that renewable energy is an essential component of how we as a country intend to manage our future energy requirements.

Why Wind?
There's no question that the momentum for wind projects began to build as a result of the PECO restructuring and merger settlements, under which PECO provided funds for new wind projects. A second reason is that the forward electric markets began a steep upward climb beginning in 1998, and especially the off-peak power market beginning in 2000 and continuing into this year. A third reason was the rapid increase in electric demand in the last five years, and a realization that we need to develop a wide-ranging set of answers to meeting the demand, including supply-side and demand-side solutions. We felt that wind generation could play a role on the supply side while meeting what seems to be a growing demand for renewable sources.

What are the primary financial considerations for a wind deal?
The first is probably the need for a long-term contract. Wind generators typically want to enter into fixed-price, long-term agreements to make it easier and cheaper to borrow money and to provide a stable revenue source over a long period. We don't have a problem with long-term deals per se, although we do want to emphasize diversity in our contracting as well. We don't want to hold multiple long-term agreements and nothing else.

In my discussions with generators so far, there has been some flexibility on contract length. In fact, our willingness to enter into a long-term contract is perhaps the key ingredient to getting a wind project financed and built. Beyond the long-term contract, the wind developers want to do business with a creditworthy company that has an investment-grade rating. Exelon Generation is rated A- by S&P so we are a natural counter-party for project financing. Right now, there are not very many long term buyers out there with the kind of credit-worthiness that we have.

Will that always will be the case?
No. If we're right about long-lasting demand, I think other large companies, including distribution companies, will participate in the purchase of energy from these projects. We've teamed up with a retail marketer, Community Energy, to stimulate demand and market wind energy in ways that will move companies to buy it. In the development of conventional generation, it is not always necessary to enter into 20-year agreements for a project to get built. For example, a developer may want to hedge off a portion of the output on a long-term basis but will be willing to sell the rest of the output for shorter periods. And in some cases, the financing source may be comfortable with a shorter-term agreement for the whole thing.

Is there a financial advantage for wind?
If one's view is that the future value of energy is higher than the present value, a generation source with no fuel risk obviously is good to have. Wind has one key advantage over other resources - perpetual availability without any fuel costs or price volatility. This helps mitigate the other risks that wind does present.

It is of course difficult to predict what will happen even in the near term. But I am a believer in broad trends or cycles that are relatively easier to project, outside of significant advances in technology. Over a long period of time, 15 or 20 years, I think the probability of fixed-price wind energy riding out the low cycles while providing a greater amount of benefits in the high cycles is higher than the opposite.

I do believe that the demand for wind generation will be sustained at a moderate premium over generic electricity prices for the next 15 to 20 years.

Is it difficult to integrate wind into your portfolio?
With conventional generation and firm transmission paths, a power marketing entity such as Power Team can bring its resources to the highest markets, whether they are hourly, daily, monthly, or longer. Such transactions are supported by a complex communications network that notifies transmission providers of the timing, amount and ultimate sink of expected output.

The contracts that we enter into on conventional generators depend to a great extent on economic structures that ensure as much as possible that the generator will fulfill our dispatch schedule as close to 100% of the time as possible, so we can avoid the punitive imbalance fees that transmission providers impose when delivered energy doesn't match scheduled energy. The approach we take on wind generation must be quite different, because wind plants provide intermittent output that is difficult to predict within reasonable boundaries of accuracy.

I think the serious wind developers know we are serious about incorporating wind energy into our portfolio. We're one of the biggest physical movers of power in the country and have a significant amount of assets - that must count for something in terms of our ability to more easily integrate a 50 MW wind project into our overall mix.

How does intermittent generation add complexity?
A wind farm generates electricity when the wind blows, not when you flip the switch on. It takes a lot more than I expected to accommodate intermittency, even for an experienced organization like ours, because the transmission system and the operational rules and procedures were not developed with wind generation in mind. You don't have the ability to give transmission providers real-time information for purposes of regulating the system between supply and demand.

In PJM, where generators can offer increments of generation on a day-ahead or real-time basis, and receive (or pay) market-clearing prices depending on actual generation, wind energy can be offered into the system in one of several different ways without experiencing significant imbalance penalties. An obstacle, and we're working with PJM on this right now, is that PJM as the transmission provider typically requires no shorter than 20-minute notice when self-scheduled or must-run generators expect to produce electricity or expect to stop producing electricity. For purposes of regulating the system, PJM then has the ability to tell the self-scheduled generator to go ahead and generate, or to hold off until the energy is needed as a result of the real-time balance of supply and demand.

This will not be practical with wind generation. We'd literally have to assign a trader to the task of monitoring highly suspect expected output from our wind plants and then calling PJM every hour to determine what to do. In the must-run scenario, we'd still have to notify PJM of expected output so PJM can regulate the system with other generators. Either way, we'd have to predict output, which is a dicey
proposition.

Does that make wind generation unreliable?
Not at all. We've got excellent modeling to predict the output from wind generation over a longer period of time, such as a full year. Those predictions underlie our contracts. But it's another thing to tell the wind when to blow. The wind energy industry is working on this from the perspective of improved wind forecasting and a more automated approach than what I've described. In PJM, a 54,000 MW system, this may not seem to be a problem when there is only about 25 MW of wind generation in the system right now, but PJM wants to institute market rules that will be appropriate for a larger amount of wind generation when it arrives. A certain magnitude of wind generation will cause PJM to change the way it now regulates the system.

The complexity cannot be underestimated and we will be part of the solution.

How can scheduling and other rules  better accommodate intermittent resources like wind?
An alternative is for the transmission provider to model the output from a wind plant as "negative" load instead of generation. Which is to say, when the plant is generating electricity, the system load will be reduced by the amount the plant is generating. When the plant is not generating, the load will increase. A tradeoff of that approach is that load typically pays ancillary services expenses such as regulation and spinning reserve. In this unique circumstance, which of the ancillary services apply to negative load, and at what level? We're working with PJM on these questions.

I'm uncertain whether a significant amount of so-called negative load will require any kind of real-time notice to the transmission provider. Of course the transmission systems are operated to react to the unpredictability of load, and one can view the unpredictability of wind generation in the same way. Other countries, and the western U.S. transmission systems, have figured out how to handle large amounts of wind generation, and so can we.

Are you working on other approaches?
Another possibility is to dynamically schedule the output from a wind plant that is situated in a control area without a real-time energy market, to a control area that does have such a market. The output signal from the plant would be available to the transmission provider in the second control area on an automated basis.  The output then becomes part of available supply from moment to moment. However, notice requirements would not be sidestepped with this approach.

Will PJM resolve these problems?
Yes. PJM is progressive and innovative, and has indicated to us that they are willing to work with us to find solutions to the scheduling/imbalance issue. It's hard now because we're breaking new ground. I expect that it will be much easier for the next projects developed.

How big might your renewable portfolio get? Will you keep signing more contracts for new projects?
As long as we continue to see demand for renewable energy, we'll continue to look at projects where there are energy markets whose long-term forward economics support the purchase of energy. I'd like to aggregate a significant amount of wind generation in a single market, such as PJM, to be able to provide PJM with a more diversified supply curve - with multiple projects it may be possible to smooth the output.

We need to do business with companies that have the financing and the organizational will to get these projects completed. We are looking to form relationships with companies that we can build on. If we execute a contract successfully, we'd like to apply the same concepts to additional projects with the same company. Examples of that are Atlantic Renewable Energy Corp. and National Wind Power.

What are some key developments to make the industry grow faster?
We need technological efficiencies to drive down the cost of the equipment, standardized approaches to the transmission of wind generation, financial innovations to allow more risk-sharing, and hybrid approaches such as wind and energy storage.

Perhaps most importantly, we need consumers to buy the wind energy!

---------------------------------
E-cubed is available for reprint in newspapers and other publications. Authors are available for print or broadcast.

PennFuture (www.pennfuture.org), with offices in Harrisburg, Philadelphia and Pittsburgh, is a statewide public interest membership organization, which advances policies to protect and improve the state's environment and economy. PennFuture's activities include litigating cases before regulatory bodies and in local, state and federal courts, advocating and advancing legislative action on a state and federal level, public education and assisting citizens in public advocacy.

To unsubscribe, simply reply to this email with "unsubscribe" in the subject.


Panic-Hit City Hunts 'Ape-Like' Attacker    NEW DELHI (Reuters) - Fear gripped some suburbs of the Indian capital on Tuesday after dozens of residents reported attacks by an ape-like creature able to leap from roof to roof.  Police had received about 65 reports of a mysterious attacker with a monkey's face and human body scratching and biting victims in and around Delhi since Saturday, a senior police official told Reuters on Tuesday.  Police said they had no clues about the identity of the alleged attacker.  "Last night (Monday) alone we received 24 calls reporting such attacks," Manoj Lal, Deputy Commissioner of Police of Delhi's eastern district, told Reuters. "Of these, 19 were found to have no basis. The five others had some wounds and we are trying to confirm with doctors how they may have been caused," he said.  Television network Star News said people in neighboring Ghaziabad town -- which reported the first attack two weeks ago -- spent the night on the streets armed with sticks waiting for the attacker.  Lal said the entire eastern district police force of about 3,000 personnel had been on patrol since Monday to hunt down the creature.  The Times of India said an industrial worker died on Sunday night in nearby Noida town when he jumped off a first-floor building after being awoken by cries the "monkey man" was attacking.  There are a number of monkeys running wild in New Delhi and on the outskirts of the city which sometimes pounce on unsuspecting pedestrians or enter houses.  Copyright 2001 Reuters News Service. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Tana/Karen:

The product long description below will fall under the new product type US
Gas Phy Index Firm 3-day Flexible non-TX>1Mo<1Yr.  Credit (Tom Moran) has
approved copying the profiles for the new product type from the following:

US Gas Phy Index Firm non-TX>1Mo<1Yr

Please respond by 10 a.m. on Wednesday, November 8.

Thank you.
---------------------- Forwarded by Lisa Lees/HOU/ECT on 11/07/2000 02:09 PM
---------------------------

From:  Melba Lozano
  11/01/2000 05:04 PM

To: Mark Taylor/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Bjorn
Hagelmann/HOU/ECT@ECT, Stephen H Douglas/HOU/ECT@ECT, Jeff
Blumenthal/HOU/ECT@ECT, Kimat Singla/HOU/ECT@ECT
cc: Lisa Lees/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Robert B
Cass/HOU/ECT@ECT
Subject: US Gas Phy Index Firm 3-day Flexible non-TX>1Mo<1Yr - Approval
Required!

Your review and approval of the following product type in the EOL Datamanager
is needed. This product already exists for products less than 1month.

Mark:  Stacey Dickson has already approved this language.

US Gas Phy Index Firm 3-day Flexible non-TX>1Mo<1Yr

EXAMPLE:

A US Gas Transaction with Enron North America Corp. (ENA), under which (A)
where ENA is the Buyer,  ENA shall deliver to Counterparty and Counterparty
shall receive a quantity of natural gas equal to the volume submitted by the
Counterparty via the website for delivery on each day during the Period of
Delivery (the sum of the daily volumes shall equal the 'Total Volume'), and
Counterparty shall deliver to ENA and ENA shall receive a quantity of natural
gas for delivery on each of the Purchase Dates during a calendar month, where
(i) the volume of gas delivered on any Purchase Date shall not exceed 33.33
percent of the Total Volume for that calendar month and (ii) the volume  of
gas delivered on all Purchase Dates shall be in increments such that that the
sum of said increments equals the Total Volume for that calendar month, or
(B) where ENA is the Seller,  Counterparty shall deliver to ENA  and ENA
shall receive a quantity of natural gas equal to the volume submitted by the
Counterparty via the website for delivery on each day during the Period of
Delivery (the 'Total Volume'), and ENA shall deliver to Counterparty and
Counterparty shall receive a quantity of natural gas for delivery on each of
the Purchase Dates during a calendar month, where the volume of gas delivered
on any Purchase Date shall not exceed 33.33 percent of the Total Volume for
that calendar month and the volume of gas delivered on all Purchase Dates
shall be in increments such that that the sum of said increments equals the
Total Volume for that calendar month. All deliveries shall be on a firm basis.

The Contract Price shall be the price derived from the Index for that
calendar month, as adjusted by the price submitted by the Counterparty via
the website. The Buyer shall pay the Contract price for each calendar month
during the Period  for gas received. The Seller shall pay the Index for each
calendar month for gas received.

The term of the Transaction shall be from the Effective Date of __ ___ 2000
to the Termination Date of __  ____ 2000.

The transaction is for delivery at Columbia, Appalachian. The Period of
Delivery shall be from the effective date through the termination date. The
Purchase Dates shall be each of no less than three days as designated by
Buyer within each calendar month during the Period of Delivery. Buyer shall
notify Seller by facsimile of Buyer's designation of a Purchase Date by no
later than 10:45 a.m. Central Prevailing Time on the due date of the pipeline
nomination for the day on which Buyer desires the gas to flow.

The Index for each calendar month shall be the Columbia Gas Transmission
Corp., Appalachia (W. Va., Ohio, Ky.) price as listed in the section entitled
"Prices of Spot Gas Delivered to Pipelines", published in the first issue in
such month of Inside Ferc's Gas Market Report.

The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.

The unit of measure against which the price is quoted shall be millions of
British thermal units and the quantity shown shall be in millions of BTUs per
day.


Kate,

Enclosed are the definitions as promised.

Cheers,

Ernest Onukogu
Energy Services
Dow Jones & Company
P.O.Box 300
Princeton, N.J. 08543-0300
609 520-4663
 <<COB-def.doc>>  <<MID-C-def.doc>>  <<PaloVerde-def.doc>>

 - COB-def.doc
 - MID-C-def.doc
 - PaloVerde-def.doc


Hi E,
?
It sure was good to see you yesterday.
?
This is where we are staying.? Sleigh ride  sounds good.? I'll look into it
or do you want to do that?? Have you  found any restaurants that sound
interesting?
?
Talk to you later.? Have a great day.?  LU-M

?http://aspenridge.net/index6.html
 - Aspen Ridge.url


Good morning all:

This past weekend you moved two computers from EB1972B and 1972G
and were supposed to install them in EB1941 and EB 1952.  What
happened?  There is no computer in EB 1941 and only the monitor in
EB 1952.  We need this equipment back.  Please install as soon as
possible.

Thanks and have a great day!

Shirley
3-5290


Rick -

Attached is a revised budget spreadsheet for EGA for outside services fixed
and discretionary and other business expenses.  Information was updated for
Janine Migden fixed outside services (this is the IL lobbyist issue we
discussed earlier today).  Please advise if you want me to send this
spreadsheet to the cost center owners.

Thanks,

Eric


Mr. Oxley, as head of Human Resources for Enron North America, I would really appreciate your assistance.  I have met with various HR reps during my nearly eight-year tenure with Enron to understand the qualifications required for an administrative assistant to move into an exempt role.  From those meetings, however, I received severely conflicting information and left with a feeling that there are no rules, or that the rules are made and changed from person to person.  That being said, does HR follow a set of rules that are standard for all non-exempt promotions to exempt roles?  In addition, are qualifications to meet those standards changed with each individual?  Your assistance would be greatly appreciated.  Thank you.

La Donna
x34379


yes 713 646-2308  Thanks Michael.  Tana I give to you

	Michael Slade
	11/02/2000 04:14 AM

To: Bob Shults/HOU/ECT@ECT
cc: Tana Jones/HOU/ECT@ECT
Subject: Re: GFI Non disclosure

I have a copy now - would you like it faxed?
Mike

To: Michael Slade/LON/ECT@ECT
cc: Tana Jones/HOU/ECT@ECT

Subject: Re: GFI Non disclosure

Do you know the status on this?

Michael Slade
10/31/2000 09:49 AM
To: Bob Shults/HOU/ECT@ECT
cc: Tana Jones/HOU/ECT@ECT
Subject: Re: GFI Non disclosure

Hello Bob
Yes that's right - although it should all be done now, although I had a call
saying they hadn't received the doc , although I did courier it round.
Unfortunately I am having to work from home today because of flooding in
south of England - so I can't check the file - but will do so as soon as I
get back to the office
Michael

To: michael.slade@enron.com
cc: Tana Jones/HOU/ECT@ECT

Subject: GFI Non disclosure

I am working with Andy Zipper on the Broker Client application.  I talked to
Colin Hefron at GFI and his attorney is apparently working with you on the
Non Disclosure Agreement.  Please let me know the status so that I can move
forward on discussions with GFI.  My number is 713 853-0397.


To Jim's last point.  I understand that the good 'ol utility system was often
operated with little regard for basic economic principles, but there's
something in this that seems very odd and difficult to assess, and it seems
to always be tied to this notion that "California is a net importer, even in
the winter."  I'm going to start with the economics and then let folks
describe why it seemingly doesn't apply in Western electricity markets.

Just about every theory of economics and trade would lead to one conclusion:
If California closes it's doors the other Western states will pay higher
prices for power and/or face increased threats to reliability.  I'm
struggling to try to determine why these basic principles aren't applicable
to Western power markets.  I understand that the PNW is a very complex place
and that the reasons could be embedded in the arcane structure that has
developed over the years.

To keep it simple (though not necessarily accurate), I've confined the
analysis to a world in which only the PNW and California exist.

The basic situation: The PNW peaks in the winter; California peaks in the
summer.

Let's take two scenarios:

1)  The West, less California, is so awash in electricity that even in its
peak--the Winter--it still has power to send to California, i.e., it has so
overbuilt it's system that it has persistent surpluses to sell to California.

Irrespective, there have (to my limited knowledge) always been sales from CA
to the PNW during the winter, when the PNW is peaking.
The only conclusion that one can make, assuming that the PNW is awash in
electricity, is that the PNW takes the power in California because it makes
economic sense to do so. That is, during the winter peaking months, it must
be cheaper on the margin for the PNW to buy from California rather than
produce itself.  Otherwise, it's difficult to understand why it would buy
from California during this month, particularly if they're long.  As such, at
a minimum, the PNW's electric bill will necessarily increase if California
closes its doors.

2) Neither the PNW , nor California, has indigenous capacity to meet peaking
load.  Therefore, the PNW must buy California's power during its peaking
summer period, and California must buy power during it's summer peaking
period.  In this case, not only will the PNW's bill go up if California
closes its doors, the lights are likely to go because they'll be short power.

I realize that this is a simplistic model, and that there could be other
legitimate economic factors driving the flows out of California to the PNW
(e.g., transmission costs).  And again, I also realize that economics may not
have traditionally been a driver in the industry.  But I thought it might be
useful to get a common framework in place as a starting point for the
question that Jim asks.

With that, I'll pose the question (understanding the simplicity of the model
set forth above):  Given that California sends power north--even if the PNW
is long---how can California closing it doors not increase the PNW's cost of
power?

Best,
Jeff

	James D Steffes
	02/28/2001 08:05 AM

		 To: Alan Comnes/PDX/ECT@ECT
		 cc: Jeff Dasovich/NA/Enron@Enron, Mary Hain/HOU/ECT@ECT, Steve
Walton/HOU/ECT@ECT, Susan J Mara/NA/Enron@Enron
		 Subject: Re: Cost of Protectionism

It seems to me that this information leads one to conclude that the value of
an open transmission network is that California does not have to build 5,000
MW of power plant (4,500 MW max input + 10%) in state.  In other words, if
California were to disconnect from the grid, someone would have to build
additional power plants in-state.

The cost to California consumers is therefore the annual carrying cost of 10
500 MW plants (made even more expensive after California expropriates the
current fleet of merchant generation).

From the perspective of the remainder of the West, the question still remains
- if California does go it alone, what is the economic impact?  Other than
legal arguments about Interstate Commerce, why should the Federal Government
want to continue to pursue open acess?  This is the hard question that we
need to answer.

Jim

	Alan Comnes@ECT
	02/27/2001 09:40 PM

		 To: James D Steffes/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron
		 cc: Susan J Mara/NA/Enron@ENRON, Steve Walton/HOU/ECT@ECT, Mary
Hain/HOU/ECT@ECT
		 Subject: Cost of Protectionism

Jim, Jeff:

Jim asked me in a voice mail what would be the cost to California of moving
from the current (evolving) system of open access to a "protectionist"
environment where access to the grid would be determined by a political body
responding to populist pressures.

Here are some things to consider.  We can talk more and I welcome Sue Mara or
Steve Walton's input:

California is a net importer so any restraint of trade would risk the state
being able to meet its own demand.  See attached slides that show PNW-CA
trade.  Even in the winter, power on a net basis flows south.

Limiting open access would primarily act to hold in-state generators hostage.
 this will kill incentives for new investment

If the ISO's proposal for market power mitigation are any guide of where a
protectionist ISO would go:
 in-state generators would be required to sell forward or lose their market
based rate certificates
 load serving entities would be required to contract forward for load and a
reserve margin.
  This is costly: it will lead to centralized planning solutions to
reliability rather than more efficient market     outcomes
 Artifical notions of "just and reasonable" rates (on top of unreasonable
reserve requirements) would lead to severe   reliability problems.  (In other
words, if Steve Peace has his way, the imports into the state will drop
off     signficanly)

There is no reason the state would be more effective at expanding the grid
(e.g., Path 15) than the current system.  (Although, admittedly the current
system has flaws.  The CAISO was set up with little thought to transmission
expansion planning.  Other RTOs are not repeating this mistake.).


We bought gas from CPA (deal 154508) and sold it to CES (deal 154516).  The
upstream contract number is 38095.


Mary,
FYI -
----- Forwarded by Linda L Lawrence/NA/Enron on 01/22/2001 04:54 PM -----

	Christi.L.Nicolay@enron.com
	01/22/2001 04:49 PM

		 To: Linda.L.Lawrence@enron.com
		 cc:
		 Subject: Re: WSPP 4th Quarter 2000 Report

Make sure that Mary Hain says OK before sending this to WSPP.  Thanks.

Linda L Lawrence@ENRON
01/22/2001 04:48 PM

Sent by:  Linda L Lawrence@ENRON

To:   Duong Luu/Enron@EnronXGate, Christi L Nicolay/HOU/ECT@ECT
cc:

Subject:  WSPP 4th Quarter 2000 Report

Duong,

Please run one confidential  and one public copy of EPMI's transaction
report for the western region.
Call if you have any questions.

Thanks
Linda
36872


Rick,

I read your memo regarding Global Risk Management Initiative.  I am sending
you the
information regarding a related initiative on which I have been working last
year and which
is moving now into the implementation stage. It's Enterprise - Wide Risk
Management
and it's really an effort to measure business risks consistently across the
company.
I hope my group can be helpful in designing the general approach to this
problem.

Please, let me know what your thoughts are.

Vince

	Enron North America Corp.

	From:  Rick Causey @ ENRON                           01/17/2000 06:04 PM

Sent by: Enron Announcements@ENRON
To: All Enron Worldwide
cc:
Subject: Global Risk Management Operations

Recognizing Enron,s increasing worldwide presence in the wholesale energy
business and the need to insure outstanding internal controls for all of our
risk management activities, regardless of location, a global risk management
operations function has been created under the direction of Sally W. Beck,
Vice President.  In this role, Sally will report to Rick Causey, Executive
Vice President and Chief Accounting Officer.

Sally,s responsibilities with regard to Global Risk Management Operations
will mirror those of other recently created Enron global functions.  In this
role, Sally will work closely with all Enron geographic regions and wholesale
companies to insure that each entity receives individualized regional support
while also focusing on the following global responsibilities:

1. Enhance communication among risk management operations professionals.
2. Assure the proliferation of best operational practices around the globe.
3. Facilitate the allocation of human resources.
4. Provide training for risk management operations personnel.
5. Coordinate user requirements for shared operational systems.
6. Oversee the creation of a global internal control audit plan for risk
management activities.
7. Establish procedures for opening new risk management operations offices
and create key benchmarks for measuring on-going risk controls.

Each regional operations team will continue its direct reporting relationship
within its business unit, and will collaborate with Sally in the delivery of
these critical items. The Houston-based risk management operations team under
Sue Frusco,s leadership, which currently supports risk management activities
for South America and Australia, will also report directly to Sally.

Sally retains her role as Vice President of  Energy Operations for Enron
North America, reporting to the ENA Office of the Chairman.  She has been in
her current role over Energy Operations since 1997, where she manages risk
consolidation and reporting, risk management administration, physical product
delivery, confirmations and cash management for ENA,s physical commodity
trading, energy derivatives trading and financial products trading.

Sally has been with Enron since 1992, when she joined the company as a
manager in Global Credit.  Prior to joining Enron,  Sally had four years
experience as a commercial banker and spent seven years as a registered
securities principal with a regional investment banking firm.  She also owned
and managed a retail business for several years.

Please join me in supporting Sally in this additional coordination role for
global risk management operations.


The M: drive is currently down Houston is aware of the problem and working to resolve it.  Right now there is no ETA on when it will be fixed.  We will keep you updated as soon as we get any information.

Thanks,

Diana


Start Date: 2/22/01; HourAhead hour: 23;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001022223.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 23 / Preferred: 108.87 / Final: 108.84)
  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 2/22/01
  SC_ID: EPMI


Following please find the Daily EnronOnline Executive Summary.

<Embedded Picture (Metafile)>


Louise,

Please find attached the attached update of all potential transactions and relevant P&L associated with Upstream Products and BHLP.

Quick updates by group :

Storage : I am having a phone call with Dave Neubauer, V.P. ETS, to discuss Northern's monetization of their gas.  In addition, Skadden Arps because of their workload associated with representating El Paso in California has delayed our meeting for another two weeks.  I have expressed my extreme displeasure and am seeking other appropriate legal firms who are well versed in regulatory affairs to advise us on the our storage monetization structure.  Paul continues to get very positive feedback from clients.  We can not move forward without addressing the regulatory risk related to our financing structure.  Steffes is aware of my frustration.
Compression -  Moving forward on pricing from EES. Oakhill and Baygas still look promising to close this quarter.  Chris met with Duke and after the meeting, decided that Baygas could not be closed until third quarter.  Received an email from Goodpasture that cc'd Prentiss - have not had time to address it.  Will do so tomorrow.
Wellhead Desk - moved to 32. P&L is lower due to "system issues" between TAGG and Sitara for the booking of some wellhead transactions.
Ecommerce -  had a successful meeting with Apache.  Still waiting on the Andex VPP to close.  Thompson has been on vacation or has been sick.
Production Offshore -  I am continuing to work with Tom to reallocate employees and associated responsibilities.  I have not received any word from John regarding who will take on the P&L responsibility associated with MEGS/Pluto.  In my mind, it should be under Allan Keel, ECR, since he is working on the restructure/sale of Mariner. Tom will inform me tomorrow of his decision to stay within ENA or to go to EGM.

I also met with the Origination Regional heads (Luce, Vickers and Tycholiz) and shared with them a modified version of the "Hot List Update" worksheet.  I am trying to work with them to develop joint product / general origination opportunities.  I have not been given any feedback regarding the deals or customers listed.

An update on Bridgeline :

Randy Curry visited with me this past week.  He would like to hire some individuals into Bridgeline and it is his understanding that the "Board resolved" to hire new employees through Enron's benefit plan.  I do not like this type of exposure for the company.  Enron takes on all the benefit and hiring risk, but does not manage the human capital.  In my mind, Randy has dragged his feet on implementing a benefits plan and hiring appropriate human resources.  In addition, I am extremely annoyed that he will not sign the Compensation Plan because it nullifies his Texaco contract.  Randy gets the best of both worlds - to be a Bridgeline or Texaco employee contingent on the situation.

I have tried contacting Robyn Davis, Texaco board member, and we have been playing phone tag.  In addition, I have met with Jeanie Slone and am meeting with David Oxley tomorrow to discuss the overall BHLP situation.

Regards, Mrha


The attached file contains our daily volume requirements for  4/10/00  and
the
following day(s) as listed .    There are three  worksheets labelled as
follows:

'Total Reqs':  Contains the volumes that CES is requesting from Enron at each
of the delivery points and dates indicated in the columns labelled "NOM".
The
Enron schedulers will want to check this sheet to see how much gas is needed
at
a specific point.   The AGL volumes are not timely and should be ignored until
further notice.    CES schedulers note:  the attached file is archived on
P:\Energy Ops\Enron\April_00\Daily\ *.xls, so you don't have to save a
duplicate copy elsewhere on the network.
'Daily Change' :  shows the change (increase +/decrease -) in the daily volume
needed from Enron at the designated citygate delivery point relative to the
supply volumes arranged previously with Enron prior to the current date.  For
the current gas day, the change is an intra-day change and is calculated using
the previous day's volume request for the current day (e.g., If the current
gas
day is 3/28, then the change is computed with respect to the 3/27 request for
3/28.  Note that this procedure assumes that the prior day supply change was
in
fact effectuated).  For tomorrow's gas day and any subsequent ones shown, the
change is computed as the latest Dth Nomination requirement less the
First-of-the-month supply volume plus or minus any adjustments made since the
first-of-the-month to the FOM supply for the (future) days shown.  (e.g., If
today is 3/28, then the change for 3/29, 3/30, etc. is computed with respect
to
the first-of-the-month volumes for those days adjusted for any additional
purchases or sell-backs since the first-of-the-month thru 3/27.)   This sheet
should be useful in determining prices for daily changes in gas volumes that
we
take or turn back.   The column labelled "ENA Daily Swing +/- vs FOM volume'
shows the absolute magnitude of the daily swings allowed by ENA at
pre-specified prices.  Prices for Swing volumes exceeding these magnitudes or
for swings at delivery points without pre-specified pricing must be
negotiated.
'TCO Storage':  Shows the daily swings taken by CES on its (paper) storage
injection for the month.    Daily swings on TCO storage may be used to meet
some or all of the daily swings at delivery points off TCO as shown in the
"Daily Change' worksheet.

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

 - 04-10-00 daily volsAM.xls


This book is for a VPP deal with the affiliate Star VPP, LP.  The Price desk
has swaps with this counterparty and the other regional desks have basis
deals.  The deals went into the system last night.  The Post ID's were
1045874 (price) and 1045878 (basis).  Kori is running the book just like she
does the other affiliate books.

Please call with any other questions,

Errol McLaughlin

   Shannon McPearson @ ECT                02/21/2001 08:37 AM

To: Errol McLaughlin/Corp/Enron@ENRON, Kori Loibl/HOU/ECT@ECT
cc:

Subject: Bookrequest #688

Do either of you have any information on the attached book request?

---------------------- Forwarded by Shannon McPearson/HOU/ECT on 02/21/2001
08:36 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Tracey Irvin                           02/21/2001 07:22 AM

To: Shannon McPearson/HOU/ECT@ECT
cc:

Subject: Bookrequest #688

Can you check with Kori and/or Errol and see what this book is for?

thanks

---------------------- Forwarded by Tracey Irvin/HOU/ECT on 02/21/2001 07:22
AM ---------------------------

	Enron North America Corp.

	From:  Nancy Hernandez @ ENRON                           02/20/2001 02:57 PM

To: Debbie R Brackett/HOU/ECT@ECT, John D Powell/HOU/ECT, Ron Nolte/Enron,
Rudi Zipter/HOU/ECT@ECT, Todd Warwick/HOU/ECT@ECT, Chris Abel/HOU/ECT@ECT,
Tracey Irvin/HOU/ECT@ECT, Clara Carrington/HOU/ECT, Burton
McIntyre/HOU/ECT@ECT, Kenneth D'Silva/HOU/ECT@ECT, Rebecca Ford/HOU/ECT@ECT,
Bjorn Hagelmann/HOU/ECT@ECT, Terri Harlan/HOU/ECT@ECT, Robin
Rodrigue/HOU/ECT@ECT, Manfred Roenz/Corp/Enron@Enron, Christian
LeBroc/Corp/Enron@ENRON, Xochitl Figueroa/NA/Enron@Enron, Kevin
Lee/Corp/Enron@Enron, Gregory Carraway/Corp/Enron@Enron, Sunil
Dalal/Corp/Enron@ENRON, Rahmaan Mwongozi/Corp/Enron@ENRON, Bilal
Bajwa/NA/Enron@Enron, Minal Dalia/HOU/EES@EES, Homan Amiry/LON/ECT@ECT, Susan
D Trevino/HOU/ECT@ECT, Sue Vasan/NA/Enron@Enron, Marina Ng/NA/Enron@Enron,
GCP_Houston, Anita Luong/HOU/ECT@ECT
cc: Errol McLaughlin/Corp/Enron@ENRON
Subject: Bookrequest #688

Attached bookrequest 688 has been completed.  If you have any questions or
comments please advise.

Regards


Rosalee:  Thank you for this good news.  I will come back to you early in
the New Year to provide more information on how this is developing.  Best
for the Season.  WCRamsay

  -----Original Message-----
  From: Kenneth.Lay@enron.com [mailto:Kenneth.Lay@enron.com]
  Sent: Thursday, December 07, 2000 7:50 PM
  To: RAMSAY William, IEA/EXD
  Cc: Joe.Hillings@enron.com; Rob.Bradley@enron.com;
Tori.L.Wells@enron.com
  Subject: IEA Ministerial/OECD Ministerial

  Hi Mr. Ramsay -

  In regard to your request for Ken to chair a Forum segment
and join the
  Ministerial dinner, with the Chair of the other Session in
May, he said
  that he would be delighted to participate.

  We look forward to receiving additional information after
the Governing
  Board has its meeting.

  Rosalee


AB 81 (Migden) which would transfer property tax assessment from local
governments to the State Board of Equalization, passed out of the
Assembly on a party-line vote of 43-28.


Jim:

Have a great Thanksgiving with your family.  It's a great pleasure doing
business with you.

Best,
Jeff


Start Date: 4/18/01; HourAhead hour: 20;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041820.txt


Hey Wilson,

Steak night is on...And, yes Darren really did give me your keys and I've
already handed them off to Ben.  Also, you'll be interested to know that my
parents might make it tonight for a little while so you may get to meet
them.  See you tonight.

Susan


---------------------- Forwarded by Angela Barnett/HOU/ECT on 12/19/2000
08:51 AM ---------------------------

Sandra R McNichols
12/19/2000 08:40 AM
To: Angela Barnett/HOU/ECT@ECT, Adrial Boals/Corp/Enron@Enron
cc: Selena Palanca/NA/Enron@Enron
Subject: Fw: Kids Say the Darnedest Things ...

Thanks Selena,
        those are priceless.
srm
---------------------- Forwarded by Sandra R McNichols/HOU/ECT on 12/19/2000
08:41 AM ---------------------------

Selena Palanca@ENRON
12/19/2000 08:29 AM
To: Julie Cunningham/NA/Enron@ENRON, Bonnie Elliott/Corp/Enron@ENRON,
Jeanette McBee/Corp/Enron@Enron, Sandra R McNichols/HOU/ECT@ECT,
kevin_m_palanca@huntsman.com, Barbara Woodland/Corp/Enron@Enron
cc:
Subject: Fw: Kids Say the Darnedest Things ...

Subject: Kids Say the Darnedest Things ...

> ...
>
>
> >
> >
> > When I was young, there was a cartoon called "Love Is...".  Well, now
that
> we're
> > doing all that retro
> > stuff, it looks like they've revived it ...
> >
> >
> >  A group of professional people posed this question to a group of
> > four-through eight-year-olds, "What does love mean?" The answers they
got
> > were broader and deeper than anyone could have imagined. See what you
> think:
> >
> >  "Love is that first feeling you feel before all the bad stuff gets in
the
> > way."
> >
> >  "When my grandmother got arthritis, she couldn't bend over and paint
her
> >  toenails anymore. So my grandfather does it for her all the time, even
> when
> >  his hands got arthritis too. That's love."
> >
> >  "When someone loves you, the way they say your name is different. You
> > know that your name is safe in their mouth."
> >
> >  "Love is when a girl puts on perfume and a boy puts on shaving cologne
> > and they go out and smell each other."
> >
> >  "Love is when you go out to eat and give somebody most of your French
> > fries without making them give you any of theirs."
> >
> >  "Love is when someone hurts you. And you get so mad but you don't yell
> > at them because you know it would hurt their feelings."
> >
> >  "Love is what makes you smile when you're tired."
> >
> >  "Love is when my mommy makes coffee for my daddy and she takes a sip
> > before giving it to him, to make sure the taste is OK."
> >
> >  "Love is when you kiss all the time. Then when you get tired of
kissing,
> > you still want to be together and you talk more. My mommy and daddy are
> > like that. They look gross when they kiss."
> >
> >  "Love is what's in the room with you at Christmas if you stop opening
> >  presents and listen."
> >
> >  "If you want to learn to love better, you should start with a friend
> > who you hate."
> >
> >  "Love is hugging. Love is kissing. Love is saying no."
> >
> >  "When you tell someone something bad about yourself and you're scared
> > they won't love you anymore. But then you get surprised because not only
> do
> > they still love you, they love you even more."
> >
> >  "There are two kinds of love: Our love. God's love. But God makes both
> > kinds of them."
> >
> >  "Love is when you tell a guy you like his shirt, then he wears it
> everyday."
> >
> >  "Love is like a little old woman and a little old man who are still
> > friends even after they know each other so well."
> >
> >  "During my piano recital, I was on a stage and scared.  I looked at
> > all the people watching me and saw my daddy waving and smiling. He was
the
> > only one doing that. I wasn't scared anymore."
> >
> >  "My mommy loves me more than anybody. You don't see anyone else
> > kissing me to sleep at night."
> >
> >  "Love is when mommy gives daddy the best piece of chicken."
> >
> >  "Love is when mommy sees daddy smelly and sweaty and still says he is
> >  handsomer than Denzel Washington."
> >
> >  "Love is when your puppy licks your face even after you left him alone
> > all day."
> >
> >  "I know my older sister loves me because she gives me all her old
> > clothes and has to go out and buy new ones."
> >
> >  "I let my big sister pick on me because my Mom says she only picks on
> > me because she loves me. So I pick on my baby sister because I love
her."
> >
> >  "Love cards like Valentine's cards say stuff on them that we'd like to
> > say ourselves, but we wouldn't be caught dead saying."
> >
> >  "When you love somebody, your eyelashes go up and down and little stars
> > come out of you."
> >
> >
> >
> >
> >
> >
>


sorry! that's a little vague - it's been changed to CAISO energy.

	From:  Sharen Cason                           02/14/2001 02:20 PM

To: Kate Symes/PDX/ECT@ECT
cc: Kimberly Hundl/Corp/Enron@Enron

Subject: #523070

This deal has an SP delivery point with firm energy.

Thanks!


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/21/2000
09:46 PM ---------------------------

Scott Adams <dilbertnewsletter@unitedmedia.com> on 02/18/2000 04:33:02 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Dilbert Newsletter 29.0

Dilbert Newsletter 29.0
------------------------

To:     Dogbert's New Ruling Class (DNRC)
From:   Scott Adams (scottadams@aol.com)
Date:   February 2000

   Highlights:
  ------------------------------------------------
  - Stop the Vote Campaign
  - Dilbert TV Show Update
  - True Tales of Induhviduals
  - Dogbert Answers My Mail
  - Dilberitos
  ------------------------------------------------

Stop the Vote Campaign
----------------------

It's a presidential election year in the United States, and that
means it's time for me to "get involved."

This year I'm organizing a "Stop The Vote" campaign aimed at
preventing Induhviduals from casting ballots.  I'll borrow a
strategy used by all politicians: hallucinations of what the
Founding Fathers intended.

As you know, people were very wise in the 1700s. Unfortunately,
something happened that made us all idiots.  I blame television.
That's why we prefer to make our important decisions on personal
freedom based on the wisdom of dead, slave-owning dandies instead
of using our own defective brains.

We have no recordings of the Constitutional debates, but I'm sure
it went something like this:

---- Re-creation ----

Jefferson:  We haven't put anything in the Bill of Rights about
genetic manipulation, Internet encryption, in vitro fertilization,
or mandatory drug testing.

Adams: Just say "et cetera."  No one is going to read it anyway.

Hancock: Let's include something to encourage public nudity.  Cable
TV won't be invented for years and I can't wait that long.

Jefferson:  Okay.  I'll call that the right to bare arms.

Franklin:  That might be misinterpreted.

Jefferson:  Who's the world-class writer here?  I keep your stupid
Almanac next to my chamber pot, and I don't mean for the reading.

Franklin:  I am soooo sorry for making a suggestion.  By the way,
your house slave "Jeff" has your eyes.

All:  HA HA HA HA HA HA!!!

Adams:  You're all a bunch of asses.  I think you're giving me an
embolism.

Jefferson:  You have the right to ass-embolisms.  Hey, maybe I
should include that.  How do you spell it?

Dilbert TV Show Update
----------------------

According to my e-mail, many Dilbert TV fans tape the show so they
have permanent copies in their tape libraries.  While Dilbert is
being taped, they watch other shows that are not tape-worthy.
Unfortunately, only live viewing of TV shows counts for ratings.
This isn't a problem for some TV shows, like "Wheel of Fortune,"
because their viewers use VCRs to crack nuts.  But the mathematical
sets of "people who can program VCRs" and "people most likely to
watch 'Dilbert'" are almost the same.  This has been a problem.

The episode airing February 22nd (9:30 PM EST) in the USA will
probably determine whether the Dilbert show gets renewed.  That's
the episode featuring Jerry Seinfeld as the voice of Comp-U-Comp,
an evil computer who has taken over a company and fired everyone
except the guy who guards the electrical plug.  Eugene Levy plays
the plug guard.

Jerry's lines are mostly written by Larry Charles, one of the
original writers for Seinfeld, now Executive Producer for Dilbert.
So if you liked Seinfeld, this is the closest thing you're going to
get.

And if you know any Induhviduals who are in Nielsen families this
month, please tell them that there's some sort of "millionaire
prize" for watching "Dilbert" and answering questions posed by the
voices in their own heads.

Dilbert Episode Airs On the Internet
------------------------------------

As part of our overall pimping for the Seinfeld voice episode,
we're putting an entire show (The Merger episode) on the Internet
in streaming video, starting February 17th and running through
February 29th.  You can find links to it at
www.dilbertondemand.com.  You need the Windows Media Player, which
you can download from the site.

As far as we know, this is the first television cartoon show
streamed over the Internet in its entirety.  We made sure we didn't
research that fact too thoroughly so we could honestly say, "as far
as we know."

You'll need a reasonably fast connection, but you can view the
entire show, in bite-sized chunks, at your leisure.  Don't settle
for mere bragging about your DSL or cable modem connection;
DEMONSTRATE your digital superiority!  Invite a neighbor who has a
pitiful 28.8 modem over to drool on you.  If you wear a raincoat,
it's a strangely satisfying experience and you can hose it off
later.

If you know anyone recently involved in a merger, the Dilbert
episode on the Internet (The Merger) is the one they'll want to
see.  Find out what's in store for companies who seek "synergy."

True Tales of Induhviduals
--------------------------

I begin the True Tales section with a personal sighting.  I
recently came upon a local road that was closed for improvements.
Signs warned "Road Closed" and "Bridge Out."  As I turned around to
head for the detour, another motorist waved me down.  We rolled
down our windows and he shouted, "Do you think we should just move
the barricades and go for it?"

I don't know how fast one must drive in order to compensate for a
"Bridge Out" situation, but I decided not to try it.

True Tale 2
-----------

Some of our corporate policies have been rewritten.  Here's an
example from our expense reporting procedures.

"Receipts are required for all expenditures of $25 or more and, in
addition to this, receipts for a lesser amount are also required."

Editor's note: It sounds as if some of the people in the HR are
idiots and, in addition to this, the rest of them are too.

True Tale 3
-----------

We received a letter from the Environmental Protection Agency
stating that unless we provided answers to their outstanding
questions within two weeks they would recommend that our power
plant construction project not proceed.

Apparently they failed to notice that, a) we already answered the
questions, b) their approval had already been issued and, c) the
$600 million power plant had been built nearly two years ago.

Editor's note: If those are the sort of questions the EPA calls
"outstanding" I'd hate to hear their dumb ones.

True Tale 4
-----------

We had a Christmas raffle in the "Business Intelligence"
department.   The boss drew a number and called it out.   The
department statistician stood up to tumultuous applause and went up
to collect his prize.  Meanwhile, another employee -- who turned
out to be the real winner -- stood up to collect that same prize.
Upon investigation, the statistician for Business Intelligence had
confused ticket 593 for 539.

Editor's note: On the surface it looks as if the statistician is a
boob.  But he's the only one in the room who realized that 39% of
the time the real winner isn't present to win.  I suspect he's a
DNRC member just playing the odds.

True Tale 5
-----------

When a project is finished in my department we place a red dot
sticker on the folder to signify its completion.  One day we ran
out of red dots but still had a large supply of green and blue
dots.  Dots weren't used for any other purpose so I suggested using
the ones we have, despite their non-red color.  Color was
insignificant.  There were only five of us in the group, so
communicating the change would be easy.

My money-saving suggestion was met with resistance from cow-orkers.
 They pointed out that we've "always used RED dots" and maybe I
should check with the department manager.  I mentioned my idea to
the manager and he said I should "bring it up at the next staff
meeting."

Editor's note: Ironically, it's not a dot.com company.

True Tale 6
-----------

I paid for lunch with a credit card.  The manager put it through
the electronic card machine and got a "no dial tone" error.  She
tried again with the same result.  Then she asked me if I had
another card.

Editor's note:  That's exactly why you should pay for your lunch
using a phone company calling card.  They have dial tone.

True Tale 7
-----------

We tested our Y2K power contingency plans a few weeks before New
Year's.  The Induhviduals in IT didn't expect any downtime, so the
test was performed during the normal work day.  The idea was that
when power was cut, the six generators would kick on and we
wouldn't notice a thing.

Three generators failed to start. Two threw their breakers due to
the high load on them.  The last was overwhelmed when the previous
two cut out and threw a tremendous surge through the lines, blowing
up hundreds of light bulbs, frying fax machines, radios and pencil
sharpeners along the way.   The surge jumped circuits in our
industrial level surge protector and traveled through our "surge
protected" lines to every desktop in the company plus the server
room.  After taking out over a hundred monitors and almost forty
PCs, the surge proceeded to destroy our server room air
conditioner, four huge UPS systems, thirteen servers and both
AS/400s.  Several small fires started throughout the building,
including our now half-melted Christmas tree and our
molten-menorah.

The surge then jumped the lines into the main power grid, blowing
up two transformers, one of which fell on the IT manager's car
(poetic justice) and cutting power on the entire block.  The
remaining generator then proceeded to burst into flames, eventually
blowing up all six generators and burning up seven cars.

This all occurred within about thirty seconds and sent 38 people to
the hospital, cost the company over $650,000 in equipment (not to
mention the impending lawsuits), destroyed eight cars and caused
weeks of downtime.  Three people quit the company.  One woman is
still in the hospital with electrical burns.  The resulting
publicity got us on television in five states.

Editor's note: That story sounds too amazing to be true but I'm
printing it anyway under the theory that there's no such thing as
bad publicity.

True Tale 8
-----------

Our university library just got new computers. The library
thoughtfully provided headphones so students can listen to sound
files without disturbing anyone nearby.   The problem is the
headphone cords have been clamped to the desk in such a way that in
order to use them, you must have your head no more than six inches
from your keyboard. It is great fun to see the stu-duh-nts trying
to use them.

True Tale 9
-----------

I went to a Georgia DMV office to obtain a driver's license.
Customers are required to produce two pieces of ID.  I presented a
utility bill and a copy of my latest tax return, both acceptable
types of ID according to their published list.

The agent behind the counter said she could not accept my tax
return as ID because it was typed.  She said, "How do we know this
is legitimate?  Anyone can get a computer or typewriter to produce
this return."  I argued, unsuccessfully, that it was also easy to
obtain pens and pencils to create hand-written returns.  I was told
to come back with a hand-written return or another acceptable form
of ID.

True Tale 10
------------

I went to a fast-food restaurant one morning for breakfast.  The
moment I opened the door, I was almost swept off my feet by an
overpowering odor of gas.  I struggled up to the counter out of a
vague sense of duty, and said  "You've got an enormous gas leak
back there somewhere!" gesturing towards the kitchen.

The girl behind the counter shrugged and said, "Yeah, I know, but
I've been here since seven o'clock and I've gotten used to it."

True Tale 11
------------

I went to ask our new principal if we could have the Monday before
finals off as a study day.  We had always gotten a study day in the
past but it wasn't on the schedule this time.  He thought for a
second and then responded, "No, you have school that day."

True Tale 12
------------

About a year ago I went to buy a video for a friend's birthday.
The video was rated for adult viewing only.   I was 15 years old,
but they sold it to me anyway.

When I got home I found out that my friend wanted the sequel, not
the original, so I took it back to the store.  The video clerk said
he couldn't return the video because I didn't look 18.

I was confused, so I attempted to clarify.  "So, because I don't
look 18 you're going to MAKE me take this ADULT-rated video, rather
then let me change it for the sequel that is NOT ADULT-rated?"

"Yeah, it's company policy.  If it changes we'll be in touch."

Eventually I convinced him he was breaking the law by selling me
the adult video instead of letting me exchange it for the non-adult
one.   As I left, the guy behind the counter yelled at me, "Next
time, don't watch the video first!"

It was still in its shrink-wrap.

Dogbert Answers My Mail
-----------------------

In this section, Dogbert answers my mail.  These are based on real
e-mail to me.  Some names have been changed to make them easier to
mock.

Dear Mr. Adams,

You were duped in your last newsletter.   Someone submitted a
supposedly True Tale of Induhviduals about a little boy and a
pager.  That is actually an urban legend more than twenty years
old.  Shame on you for falling for that.

        Jim,

Dear Chimp,

Just because it's an urban legend doesn't mean it didn't happen.
In fact, just this morning Mr. Adams woke up in a bathtub full of
ice and found a note saying one of his kidneys was missing.  It
wasn't stolen; he got talked into donating it to a celebrity
auction for the National Ear Hair Foundation.  I'm working with him
on learning to say no.

        Sincerely,

        Dogbert

----

(Note:  In this next letter, some expletives have been replaced by
asterisks)

Dear Mr. Adams,

Your stupid ******* comic strip is a piece of ****.  Give up
cartooning and **** my ****, you *******  ****-******.

        (Anonymous)

Dear Esophagus,

There is no call for such language.  If you do it again, it will be
your "*."

       Sincerely,

       Dogbert

---

Dear Mr. Adams,

No offense, but no one will cry when you die because Dilbert is
just some goofy guy. Some of the biussness (sic) stuff is HARD to
understand and it isn't something that you can feel like you know.
Dogbert is so egotistical whereas Snoopy is so easy to know, and
Charlie Brown is not some GOOFY guy, if you know what I mean.

      Marshall

Dear Marsupial,

No offense taken. Now if you'll excuse me, I have to get back to
"buissness."

      Sincerely,

      Dogbert

---

Dear Mr. Adams,

What is that round black thing on Dogbert's face?  My friend says
it's his mouth but I say it's his nose.

      Floyd

Dear Flawed,

I get this question often, thanks to Mr. Adams' prodigious artistic
range.  Allow me to clarify some of the shapes in the Dilbert
strip.  In general, the black circles are dog noses.  The black
ovals are mouths.  Rectangles are desks or sometimes computers.
When the ovals are turned the other way and are not filled with
black they are glasses.  Everything else is random.

I have already requested a transfer to "For Better or For Worse."
The dog mortality rate there is high, but I'm willing to take the
chance.

      Sincerely,

      Dogbert

Dilberitos
----------

If you're wondering where to find those delicious and
coincidentally-vegetarian Dilberitos that have 100% of your daily
values of vitamins and minerals, they're in grocery stores now, in
the frozen food section.  Check www.dilberito.com for store
details.

I can't guarantee that eating Dilberitos will help you live long
enough to dance on the graves of all your enemies (an excellent
aerobic exercise), but it's worth a try.

Dilbert Fodder
---------------

What's bugging you about your job?  Let me know and you might see
it in a Dilbert comic, TV show or newsletter.  The best comic
fodder involves workplace peeves, devious strategies, frustrations
of dealing with others, conflicting objectives, unintended
management consequences, and of course my favorite - idiot bosses.

And I love True Tales of Induhviduals.

And if you're seeing any new management trends that need to be
mocked, I can help.  Send your suggestions to me at
scottadams@aol.com.  Short ones are better.

Cubicle Art
-----------

The Dilbert Zone is now accepting submissions of cubicle art: art
made from things you have around the office, or decorated cubes, or
"theme" cubes. Toward the end of March, the best ones will be
posted in the DNRC area at www.dilbert.com. Submissions will only
be accepted by e-mail, and must be in gif or jpg format, 50K or
less. E-mail cubicle art submissions to cubeart@unitedmedia.com.

All submissions will be governed by the terms of use posted at
www.dilbert.com.

Exclusive DNRC-only Offer - while supplies last!
------------------------------------------------

Now through February 27th, take advantage of these special offers:

Spend $10.00 in The Dilbert Store and receive a free Dogbert Tech
Support Mug and a free 25-minute phone card.

Spend $35.00 in The Dilbert Store and receive a free Boss Pen
Holder with Dilbert Pen, a free Tech Support Mug and a free
25-minute phone card.

These DNRC offers will not be announced in the Dilbert Store. To
get them, you need to follow this DNRC-only link:
http://www.umstore.com/dilbert/dnrcspecial.htx

This year's Dilbert calendars are back in stock. Buy yours now
before they're gone for good!

In addition to the DNRC-only offers, enjoy great discounts on the
following products:

Dogbert "You're Next on My List of Things to Ignore" Cap - $7.99
http://www.umstore.com/dilbert/inventory.htx?item=2601-11005

Ignore Y2K Bug T-shirt - $9.99
http://www.umstore.com/dilbert/inventory.htx?item=2601-10019

Character Picture Frame - $8.99
http://www.umstore.com/dilbert/inventory.htx?item=2601-12014

Young Dilbert CD-ROM - $14.99
http://www.umstore.com/dilbert/inventory.htx?item=2601-14001

(Offers are limited to one DNRC bonus per order, but regular
Dilbert Store freebies will be added if the order amount qualifies
for them.)

How to Subscribe to the Dilbert Newsletter
------------------------------------------

You can sign up for the free Dilbert Newsletter
automatically. Send a blank e-mail to
dilbert-text-on@list.unitedmedia.com.

Unsubscribing
-------------

To unsubscribe automatically, send a blank e-mail to
dilbert-off@list.unitedmedia.com.

Problems Signing up for the Newsletter
---------------------------------------

If the automatic method doesn't work for you, simply
send a message to newsletter@unitedmedia.com specifying your
e-mail(or snail mail) address and you will be added manually.  This
method is much slower than the automatic method so please be
patient.

Scott Adams
scottadams@aol.com

Please do not reply to dilbertnewsletter@unitedmedia.com


The latest release has arrived!

A new release of e-Request (the web based network access system) is being
launched September 11, 2000.  It is guaranteed to enhance the way you access
Enron Net Works supported resources such as: applications, conference room
administration, data directories, and restricted printers.  Added benefits
include:

ability to provide direct feedback to the e-Request team
new regional specific application lists
ability to request creation of new, secured directories
faster, more efficient navigation
more attractive, cleaner interface
accessible history of resources
more details listed on pending and closed requests
logon is more reliable

The current release is available at http://itcentral.enron.com.  To learn
more about e-Request, attend one of our premier brown bag sessions.  RSVP by
contacting Kim Lerro at extension. 3-4224.  Seating is limited, so call now
to reserve your seat!

Brown Bag Schedule (One Hour Sessions)

Monday August 28th
8:30  AM EB0560
10:00  AM EB0560
11:30  AM EB0560
2:00  PM EB22C1
3:30  PM EB22C1

Thursday August 31st
3:30 PM EB22C1

Friday September 1st
8:30 AM EB22C1
2:00 PM EB22C1
3:30 PM EB22C1

Wednesday September 6th
3:30 PM EB22C1

Thursday September 7th
8:00 AM EB22C1

Friday September 8th
9:00 AM EB22C1


Here's an early draft.  Note Cinergy sr. mgmt has not yet commented.  No
price, either.

Mark
----- Forwarded by Mark Palmer/Corp/Enron on 12/11/2000 01:29 PM -----

	Eric Thode
	12/11/2000 01:13 PM

		 To: Mark Palmer/Corp/Enron@ENRON, Kathryn Corbally/Corp/Enron@ENRON
		 cc:
		 Subject: DRAFT PRESS RELEASE: Cinergy's Peaker Plant Purchase

Please review and comment.  This is scheduled for before the market opens on
Tuesday.  Thanks.

Eric

---------------------- Forwarded by Eric Thode/Corp/Enron on 12/11/2000 01:13
PM ---------------------------

"Brash, Steve" <Steve.Brash@Cinergy.COM> on 12/11/2000 12:54:22 PM
To: "'eric.thode@enron.com'" <eric.thode@enron.com>
cc:

Subject: CC&T-Enron

Eric:
here is the current version of the news release, but I have not yet received
senior management comments.  I'll let you know as soon as I have a final
version.

 <<CC&T-Enron rel.doc>>

 - CC&T-Enron rel.doc


I've forwarded this message to Geier and Bill Williams III, the Real Time
manager, who will remedy the problem - probably something to do with deal
blotter defaults.

Thanks.
Kate

	From:  Sharen Cason                           12/12/2000 06:56 AM

To: Kate Symes/PDX/ECT@ECT
cc: Kimberly Hundl/Corp/Enron@Enron

Subject: not to be confirmed

There is an hourly trader named Geir Solberg whose trades appear on our
reports to be confirmed.  We go into each trade and change them to not to be
confirmed.   The other hourly deals do not appear on these reports.  I think
perhaps his defaults are not set correctly.  Can you check with him on this.
I don't know why his are appearing on the reports and not other hourly deals.

Thanks!


Larry:  In accordance with our conversation late last week, I am enclosing a
revised draft of the proposed standstill agreement that was discussed on
Wednesday.  My comments primarily involve the following:

(1) As you and I discussed last week,  I thought it made sense to specify a
reasonable date by which Enron and PG&E shall have reached closure on a
settlement agreement on the contract termination and related claims.  I
proposed a one month period to do that.  If the parties can,t come to an
agreement in that time period, then the &mechanics8 in the MPA for resolving
a dispute dealing with the calculation of the termination payment would be
&reactivated.8  Obviously, if we are making progress, the parties can always
extend the date.  I felt it was appropriate to specify the window period to
make sure that everyone is focused on attempting to get a prompt resolution.
Assuming a final settlement agreement is agreed upon, the conditions of the
extension of the &stay8 would be embodied in the settlement agreement itself
(as opposed to this letter).

(2) Enron agreed at the meeting that it would keep the LCs in place while the
parties were working to see if a settlement agreement could be reached, and
that requirement is reflected in our revisions to the letter.  Thus, the
revised letter provides that Enron will do this for the &Initial Extension
Period8 (i.e., to May 25, 2001).  Your draft had provided that Enron would be
required to keep the LCs in place even if no settlement agreement were to be
reached.  My view is that any requirement to maintain the LCs beyond the
Initial Extension Period and any conditions with respect thereto, if agreed
to by Enron, should be part of the final settlement agreement executed by the
parties, rather than as part of this letter.  Also, we note that, as a
contractual matter, the MPA does not require the non-defaulting party to keep
in place any security in favor of the defaulting party when, as a result of a
termination, the non-defaulting party owes a payment to the defaulting party.
 See Sec. 5.5.

(3) Your draft of the letter provided that Enron &agrees8 to enter into new
master gas agreements and consummate term transactions on &commercially
reasonable terms.8  The revised letter specifies that Enron agrees to
negotiate with PG&E in these respects simultaneously with the negotiations
towards a settlement agreement, but any commitment on Enron,s part to effect
a contract or transaction with PG&E will only arise as a result of the
parties, execution of the definitive transaction documents (as opposed to
this letter), the execution of which shall be in the sole discretion of each
of the parties.

Please call me at your convenience to discuss any questions on the foregoing
or on the revised letter.  Thanks in advance for your help in moving this
forward.

Elizabeth Sager
713 853 6349

	"Witalis, Lawrence (Law)" <LCW4@pge.com>
	04/25/2001 07:23 PM

		 To: "'elizabeth.sager@enron.com'" <elizabeth.sager@enron.com>
		 cc: "'jklauber@llgm.com'" <jklauber@llgm.com>, "'byoung@llgm.com'"
<byoung@llgm.com>, "'jlopes@hrice.com'" <jlopes@hrice.com>, "Kuga, Roy"
<RMK4@pge.com>, "Wan, Fong (Corp)" <Fong.Wan@pge-corp.com>, "Sena, David"
<DJSt@pge.com>, "Foley, Jack" <JRFc@pge.com>, "Pearce, Karola (Law)"
<KKP2@pge.com>, "Harvey, Kent" <KMH5@pge.com>, "Bar-Lev, Joshua (Law)"
<JXB7@pge.com>
		 Subject: Stand-Still Agreement

Ms. Sager:

Attached is my draft of an agreement memorializing the parties' respective
commitments as we negotiate the amount of the Termination Payment and of
other claims Enron may have against PG&E in Bankruptcy Court.  I do not have
your mailing address; yet, PG&E would like to receive assurance soon that
Enron agrees with the terms of this proposed letter agreement.  After
reviewing the draft, please indicate Enron's agreement by return e-mail to
me.  Or, please call me (415-973-3817) to discuss.

Thanks.

Larry Witalis

 <<enron.doc.rtf>>

 - enron.doc.rtf


Thanks for the cc.  Nice touch.  Chalk up another one for the good guys.

Best,
Jeff

-----Original Message-----
From: Dorothy Rothrock [mailto:drothrock@cmta.net]
Sent: Monday, October 22, 2001 1:35 PM
To: wbooth@booth-law.com; cra@calretailers.com; ek@a-klaw.com;
mikahl@ka-pow.com; djsmith@s-k-w.com; dhunter@s-k-w.com; Derek Naten;
'Dominic DiMare'
Cc: Dasovich, Jeff; Evelyn Elsesser; Loren Kaye
Subject: Reponse to Angelides

Wanna sign onto this letter to Loretta? Any suggestions? We could make it a CEA thing.

(I am copying Jeff D. as a courtesy...I think we need this to be just a customer deal).

Dot
498-3319


----- Forwarded by Mark Palmer/Corp/Enron on 07/10/2001 07:47 PM -----

	"Leopold, Jason" <Jason.Leopold@dowjones.com> 07/10/2001 07:32 PM 	   To: "'pat.dorinson@mirant.com'" <pat.dorinson@mirant.com>, "'mark.palmer@enron.com'" <mark.palmer@enron.com>  cc:   Subject: LADWP

=DJ LADWP, Run By Davis Adviser, Cashed In On Calif Crisis

Dow Jones Capital Markets Report via Dow Jones

   By Jason Leopold
   Of DOW JONES NEWSWIRES

  LOS ANGELES (Dow Jones)--On a single day in June 2000, the Los Angeles
Department of Water and Power, the largest municipal utility in the country,
raked in $5 million selling California surplus power for $1,000 a
megawatt-hour
- about 30 times the average price the utility charged the month before.

  That sale, reported by the California Independent System Operator and
confirmed by the LADWP in an interview last June, was one of many instances
in
which the municipal utility cashed in on California's power crisis.

  On Monday, the Department of Water Resources, the agency that has been
purchasing California's bulk power needs in lieu of the state's
cash-strapped
utilities, released a detailed report of spot-market power purchases showing
the
LADWP charged the state an average of $242 a megawatt-hour for power from
Jan.
18 through May 31 this year. That price is about $35 higher than those
charged
by most of the out-of-state generators Gov. Gray Davis has criticized
repeatedly
as price gougers.

  Potentially embarrassing for the Davis administration, however, is that
the
LADWP was formerly run by General Manager David Freeman, who in April became
Davis' top energy adviser.

  Steve Maviglio, press secretary to Davis, said Texas-based generators are
primarily to blame for the high wholesale prices that crippled the state's
two
largest utilities.

  "Anywhere they wear cowboy hats, they probably have handkerchiefs across
their
face, because they are robbing us blind," he said. "The bad guys are clearly
the
out-of-state generators."

  Freeman's trademark is a white Stetson.

  The former LADWP chief, who last September quipped that a "blind pig could
make money" under California's faulty deregulation setup, didn't return
calls
for comment.

  Freeman took a leave of absence from the LADWP in January to negotiate
long-term power contracts on behalf of the state.

     Power To Sell

  According to the DWR report, the LADWP brought in $331 million selling
power
to the state between Jan. 18 and May 31 this year.

  The LADWP, which didn't take part in the state's deregulation debacle and
which isn't under the jurisdiction of federal energy regulators, also cashed
in
throughout 2000. The utility has 7,000 megawatts of generation capacity but
only
needs about 5,500 MW to serve its retail customers, freeing it to sell as
much
as 1,000 megawatts to the ISO at prices comparable to what the generators
were
charging.

  The LADWP did so well that it was able to pay down $200 million in debt
and
will reduce its customers' rates in 2002.

  "It just shows you that enterprise is where you find it," Freeman said in
an
interview last year.

  Last July, ratings agency Fitch concluded that California's electricity
shortage provided LADWP "an opportunity for the sale of surplus power at
favorable prices which added to the municipal system's coffers."

  According to a report by the ISO, manager of the state's electricity grid,
the
LADWP overcharged California for power from May 2000 through February 2001
by as
much as $20 million. Maviglio said the state will pursue refunds from the
utility.

  On Tuesday, an LADWP spokesman defended the utility's power prices, saying
the
costs of producing electricity were extremely high.

  The ISO has estimated that the state was overcharged nearly $9 billion for
electricity sales in the 12 months ended May 2001. On Monday, settlement
talks
between state officials and generators over the refunds broke down.

  Other municipal utilities, including the Sacramento Municipal Utility
District
and private companies like BC Hydro in Canada, have also racked up enormous
sums
selling surplus power to California at the last minute.

  -By Jason Leopold, Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com

  (END) Dow Jones Newswires  07-10-01

  1557EDT

(AP-DJ)--07-10-01 1557EDT
:TICKER: EIX PCG SRE
:SUBJECT: EUTL CA COBO MU PETR
Copyright (c) 2001 Dow Jones and Company, Inc.
Received by NewsEDGE/LAN: 7/10/01 12:57 PM


Susan,  Attached are redlined copies of the CSA Amendments.  We made a change
to the Monthly Contract Quantity to exclude Force Majeure events and Section
2.4 Shaft energy interruptions.  Please review and call me with any
questions.  x-33512.

Since we have circulated the prior amendment, I think it would avoid the most
confusing by giving these amendments a new execution date.  I also added a
section which specifices that these versions replace the amendments dated
June 18, 1999.

The NBV letter values will also be redone.  The numbers will have to be
changed.  The investors have asked that instead of a Contract Year Schedule,
a quarterly schedule be included.   I don't have the numbers from Mark yet,
but will forward those changes as soons as I get them.

Mark indicated that he had discussed these changes with both you and David.


---------------------- Forwarded by Kay Mann/Corp/Enron on 02/05/2001 08:43
AM ---------------------------

ACastellese@Technip.Com on 02/02/2001 03:08:03 PM
To: heather.sander@airborne.com, kelly.carr@dal.frb.org,
treagan@cei-crescent.com, dowlena@camerondiv.com, kay.mann@enron.com,
kay.mann@gte.net, mlandry@mpwcpa.com, link@outbackprinting.com,
regina.thomas@officedepot.com, acastellese@ev1.net
cc:

Subject: HUNTER - 1 month old

(See attached file: hunter.jpg)

 - hunter.jpg


Are you available to attend a weekly meeting on Wednesday's to update Louise
Kitchen on "Offline"?  Here are the details.......

When: Wednesdays
Time: 9:00-10:00 a.m.
Where: Louise Kitchen's office

Thanks,
Tina


Dear My Accounts customer,

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We protect the personal information we collect about you by maintaining
physical, electronic, and procedural safeguards that meet or exceed
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We train the people who work for us on how to properly handle your
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on the Citigroup Privacy Promise for Consumers with respect to your
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We receive this information, as your agent, from the providers of the
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-  Information we get from other sources.

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They are in several lines of businesses, including banking, credit cards,
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My Accounts does not share the personal information that we collect with
non-affiliated third parties except: (i) to companies that perform marketing,
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including disclosures necessary to process and service your account, to protect
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You agree that we may post subsequent annual or revised privacy notices on the
My Accounts website, and such posting shall constitute delivery to you.

Customers of Citibank Other than My Accounts
If you are also a customer of Citibank or Citigroup for services other than
My Accounts, or of other Citigroup affiliates and you receive a notice of
their intent to share certain information about you, you will need to separately
notify them if you do not want such information shared.
This email was sent to:  jason.wolfe@enron.com


Rob made some changes in the e-mail I sent last Friday.  He put the info
about the Assignment and Assumption Agreement in para. 2 and used more
defined terms from the ADA.

I think we can use the same A&A agreement to notify WestLB of our intent to
assign the P.O. and give notice as to the closing date.  However, the current
form of A&A agreement has sig. blocks for only ENA and WestLB.  Seems like
you need a sig. for the assuming party!  Particularly since that party is
purporting to give notice to WestLB of its intent to pay the purchase price!

Rose

To effectuate the movement of turbines out of the WestLB LM6000 structures
the following needs to take place:

1) ADA - Assignment of the Purchase Option.  On at least 5 (five) days notice
to WestLB, ENA will assign the Purchase Option for the subject equipment and
ancillary agreement to the purchasing entity.  This assignment (the
"Assignment")  must release the Lessor (WestLB)  from all its obligations
under the Turbine Purchase Agreement with respect to the subject equipment
and ancillary agreements.  This means that GE Packaged Power (a division of
GE) and other vendors must release WestLB from its obligations with respect
to the subject equipment and contracts.  (Kay - Could this be done by an
amendment to the scheduled equipment under the various agreements between
WestLB and the various vendors? Rose - I believe so, along with entering into
the new contracts reference in 3))

The assignment agreement to effect this is explained below and can be
prepared by Kay, Rose or Rob.

2) ADA - Closing of the Purchase Option.  WestLB requires at least 5 (five)
days written notice of the exercise of the purchase option and  this notice
can be included in the Assignment and Assumption Agreement.   The purchase
price for the subject equipment and agreements will be the "Termination
Amount" as defined in the ADA, as allocable to the subject equipment and
contracts.  This amount is equal to the sum of i) the aggregate outstanding
amount of the Advances, plus ii) any Transaction Expenses then due and owing.
plus iii) all accrued amounts due on any Lessor Yield or Facility Fee, plus
iv) any amounts owed for any costs reasonably incurred by the Lessor with
respect to the subject equipment and contracts.  The particular amounts of
the foregoing costs and fees allocable to the subject equipment and contracts
should be determined in coordination with Lisa Bills and Humberto Cubillos.

The Assignment and Assumption Agreement  used to consummate the Purchase
Option is attached as Exhibit G to the ADA and can be prepared by Kay, Rose
or Rob.  It needs to be executed by ENA, ENA's Designee as assignee and
WestLB.  A detailed list of the equipment and contracts being assigned must
be prepared by the assignee and attached to the assignment.

3) Assignment under the Turbine Purchase Agreement.  The Purchaser (WestLB)
under the Turbine Purchase Agreement (the "Turbine Contract") may assign a
portion of its rights and obligations under the Turbine Contract to an
affiliate of ENA without the Seller's consent.  Kay has structured the
Turbine Contract to allow the assignee to enter into separate purchase
agreements with GE Packaged Power for the equipment being assigned.   The
documents to transfer title of the equipment from WestLB (in the case of
equipment that is already fabricated) , or to replace ENA with another
business unit on the purchase agreement (in the case of WIP turbines) should
be prepared by the business unit attorneys involved in the transfer, based on
a form of contract which is very similiar to the Master Purchase Agreement.

 The tax specialists from both ENA and the acquiring business units should be
advised as to the planned date of title transfer.

 Same generally holds true for the ABB transformers, except that the
assignment to an Enron SPV may require a form of security.


Peter,

Be assured that I am extremely sensitive to the issues affecting board members in Canada.  We also have similar issues in the UK.  We will endeavor to communicate as best we can.  However, all behavior with respect to your concerns must be practical in light of Enron's cash management systems.  We cannot always hold a board of directors meeting in order to effect a wire transfer.  I am choosing not to interpret your memo as some sort of threat, but as an effort to highlight a reasonable concern.

Regards,

Ray Bowen

 -----Original Message-----
From: 	Crawford, Sharon   On Behalf Of Keohane, Peter
Sent:	Wednesday, November 21, 2001 3:01 PM
To:	McMahon, Jeffrey; Bowen Jr., Raymond; Perkins, Mary
Cc:	Delainey, David W.; Lavorato, John; Milnthorp, Rob
Subject:	FW: Debt Funding to Enron Corp.

For similar reasons, no funds are to be withdrawn in the future from any of the bank accounts of Enron Energy Services Canada Corp. or Enron Direct Canada Corp. without first obtaining the consent of Dave Delainey, Rob Milnthorp and me, who are the Directors of those two companies.

 -----Original Message-----
From: 	Crawford, Sharon   On Behalf Of Keohane, Peter
Sent:	Wednesday, November 21, 2001 9:45 AM
To:	McMahon, Jeffrey; Bowen Jr., Raymond; Perkins, Mary
Subject:	Debt Funding to Enron Corp.

Please see attached memo:


FYI

 -----Original Message-----
From: 	Boatman, Jack
Sent:	Friday, November 02, 2001 9:00 AM
To:	Hayes, Robert; Kilmer III, Robert; Lokey, Teb; McCoppin, Dorothy
Subject:	FW: Transportation Service Proposal
Importance:	High
Sensitivity:	Confidential

FYI

 -----Original Message-----
From: 	Boatman, Jack
Sent:	Friday, November 02, 2001 8:59 AM
To:	Gonzales, Eric; Kaiser, Jared
Subject:	Transportation Service Proposal
Importance:	High
Sensitivity:	Confidential

Attached is a draft service proposal to facilitate discussions regarding interruptible backhaul transportation service from the proposed Calypso Pipeline receipt point.

Please call if questions or you wish to discuss.


According to Ed Santa with Iroq, we paid the disputed parking for June 1999
activity and we did not pay $860.00 of expnese in May 1998.  I not concerned
about the June 1998.  Would you once again please verify what we paid Iroq on
the disputed parking fee from May 1999 through July 1999?

thanks


These have been changed - and I changed the broker fee in 586569 to $15 flat.

Stephanie Piwetz   04/19/2001 02:19 PM

To: Kate Symes/PDX/ECT@ECT
cc: Kimberly Indelicato/HOU/ECT@ECT

Subject: APS/Bloomberg 4/19

Please ch cp name for 2 bloomberg trades from Pinnacle to Arizona.....
w/ contact names

586507.01  Leaf H.
586569.01 Tom A.

Thanks


I'm sorry, I came looking for you on Friday at 3:00 p.m.  I thought I had
responded to you and indicated that Friday at 3:00 was okay, but I checked my
e-mails and discovered that I did not respond.   Anyway, my fault, what's
good for you next week?  ( I promise I'll respond when you e-mail me back,
instead of just putting it on my calendar.)

Thanks


Williams Central Pipeline is not one of our "top tier pipelines"


Kim,

The NGI daily prices got messed up somehow when I ran the data fetch program.  I updated them in this file now but I figured you would use GDD prices anyway.  I have also attached the NGI monthly index which is usually the way we use NGI prices, as you indicated.  I just thought you wanted daily prices originally and wanted to show them from the 3 different sources for comparison.  Sorry for the confusion.

Let me know if you need any more assistance.

Thanks,

Charlie