Start Date: 11/29/01; HourAhead hour: 14;  No ancillary schedules awarded.  Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001112914.txt

Error retrieving HourAhead price data - process continuing...
---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 14 / Preferred: 529.06 / Final: 529.06)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 11/29/01
  SC_ID: EPMI


Mark,

As mentioned on my voicemail message.  Please confirm that we are OK to go
ahead and have the US participate.

thanks
Dave

---------------------- Forwarded by Dave Samuels/HOU/ECT on 06/07/2000 11:01
AM ---------------------------

Messinaj@sullcrom.com on 06/06/2000 05:34:09 PM
To: dave.samuels@enron.com, justin.boyd@enron.com,
marly.didizian@linklaters.com, nick.west@linklaters.com
cc: RAISLERK@sullcrom.com
Subject: Enron Online Game terms & disclaimers

Attached is our black lined mark-up of the disclaimers that you sent to us on
Friday.  Our additions are double underlined.   Please contact us with your
comments or questions.

J.M.

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

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.

 - discl.wpd


Start Date: 1/17/02; HourAhead hour: 9;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011709.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


Here is a draft of the revised Master for Select for your review. It has not been sent to the customer.

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


Think you're really funny?  Then show us!  Enter the latest Enron Business
Top 10 contest and let us know what you think Enron's New Year's resolutions
should be.  (We'll choose ten winners, so only one resolution per person,
please.)  There may not be flashing lights and balloon drops if you win, but
you will get your name published and a $25 gift certificate to the Signature
Shop!

Enter the Enron Business Top 10 contest in the print publication or through
the online version (go to home.enron.com, click on Publications, then on
Enron Business and Volume 6, 2000).  Deadline is Friday, January 19.

Good luck!


We leave for Scottsdale just two weeks from today.


Hhere are some questions for David that I already sent. Do you have anything
else?

---------------------- Forwarded by Ami Chokshi/Corp/Enron on 12/21/99 01:49
PM ---------------------------

	Enron North America Corp.

	From:  Ami Chokshi                           12/21/99 12:35 PM

To: dscott1@columbiaenergygroup.com
cc:

Subject: Misc. Questions

Questions:

1.  At Agua Dulce, which pipe can the GP plant go into? Can it go into HPL?

2. Do you have nom forms for any plant nominations we may need?

3. For GEMC, is the Tejas plant at Thompsonville? Do you know how any of
those points tie into HPL?

4. Do you have avails for MOPS production? The gas that is transported to
Tivoli--what contract do you use?

5. For Kerr McGee, do you have the Entex contacts you speak with?

6. Is there a Waskom nom form? With whom do you speak over there?

7. For the avails sheet you sent, the first row of column titles is blacked
out. Can you tell me what the row reads?

8. What volumes will come from Koch Gathering into Carthage for next month?
We show conflicting numbers.

Thanks,
Ami
713/853-9272

---------------------- Forwarded by Ami Chokshi/Corp/Enron on 12/21/99 01:49
PM ---------------------------

	Enron North America Corp.

	From:  Ami Chokshi                           12/21/99 01:48 PM

To: dscott1@columbiaenergygroup.com
cc:

Subject: More Questions

1.  At Carthage, the deliveries to Koch? What is that 15000 on your
whiteboard for. Who is it to? Are the volumes termed up?

2.  At Midcon Texas, you usually sell all the supply to its marketing
affiliate, correct? Is so, is that gas termed up or do you sell it month to
month?

3. Is the gas to Entex off Tomcat sold as base or swing? Don't they change
the volume occasionally?Has Anadarko given you any avails for Jan?

Thanks,
Ami


I just heard back from Holli Krebs, who verified that Puget is right on this
deal - the term should be December through February. I've changed it in the
system.

Thanks,
Kate

	From:  Sharen Cason                           11/29/2000 08:26 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Puget Sound # 467090

When I tried to verbally confirm this deal, the counterparty has this deal
running for three months, December through February.  Could you check with
the trader and either change it or have him talk to the counterparty about
it.  Let me know.

Thanks!


David,

For clarity, wherever you cite Section 6.2 in your response I assume you mean Section 6.3.

Your response does not address the key points upon which I based my interpretation of the plan.  The beginning of Section 6.3 states "Notwithstanding any other provision of the plan?".   This implies that Section 6.3 contains the complete rules for an accelerated distribution.  I disagree with your translation of "a single sum distribution" as meaning all at once instead of a single amount.  I would like to meet to discuss or appeal to Greg W. or John L.   In addition, your response does not address Section 7.1.  This appears to be the relevant section if the PSA is to be paid in shares.  Additionally the Q & A section in the plan brochure (pg. 8) works through an example of adjusting the number of shares to retain a certain dollar value.  This is the methodology described in Section 7.1.

Tom Martin and Scott Neal share the above concerns.  Please advise of a convenient time we can all meet to discuss further.

Phillip

 -----Original Message-----
From: 	Oxley, David
Sent:	Monday, November 26, 2001 8:31 AM
To:	Allen, Phillip K.
Cc:	Whalley, Greg; Joyce, Mary
Subject:	Answer

For purposes of an accelerated distribution from the PSA,  a "single sum distribution," in Section 6.2 means that a PSA account is distributed all at once, as distinguished from another form of payout as may have been selected by a participant in his or her deferral agreement.

Section 6.2 is clear in that the account balance shall be determined as of the last day of the month preceding the date on which the Committee receives the written request of the Participant.  A PSA account balance is reflected in shares of stock since the form of distribution is shares of stock.

Additionally, any portion of a PSA balance attributable to deferral of restricted stock is administered under Sections 3.5 and 3.6 and Exhibit A of the Plan. This section is applicable now as we are accelerating the distribution of PSA balances created with deferrals of restricted stock.  The Plan indicates that upon death, disability, retirement or termination, the share units are converted to shares which are issued to the executive according to the payment election made by the executive at the time of the deferral election.

      Therefore the distribution you will receive in shares is correct and we do not agree with your interpretation of the plan.


Thought you might get a kick out of "ISO California" (at the end of this
email) written by Steve Huntoon, who is now with Dynegy's DC office.    --
Lisa
----- Forwarded by Lisa Yoho/NA/Enron on 03/16/2001 10:29 AM -----

	Mary.Doyle@dynegy.com
	03/16/2001 10:08 AM

		 To: Lyoho@enron.com
		 cc:
		 Subject: WPTF Friday Crazy About U Burrito

Check out the end of the burrito.

THE FRIDAY BURRITO

Ben Zycher from the RAND Corporation used the following line in his talk at
the WPTF General Meeting in Phoenix a few weeks ago. The story takes place
in the good ol' days of the Soviet Union when Brezhnev was Premier.
Brezhnev and the rest of the Politburo one fine May Day were watching the
tanks and missiles pass by the Kremlin Wall, when Leonid noticed in the
middle of the parade a truck carrying a group of civilians.; He turned to
Dmitri Ustinov, the Defense Minister, and asked, "Who are they?"; Ustinov
replied, "Those are our economists.; You just wouldn't believe their
destructive potential."

This is appropriate for our time and our situation.; The economists
descended upon us when the California market was designed, but we know not
from where.; Aliens?; Since weaving conspiracy theories is a popular past
time in Sacramento ("We just know they are gouging us, them bullies"), I
believe that one must do the same by following the money.; I'm not talking
about the campaign contributions in Gray Davis' pocket. The most money has
gone from power sales in California to the Canadian Province of British
Columbia.; It was a plot the Canadians hatched. I mean, look at Governor
Davis.; He looks kind of BC-ish.; Skinny and lanky, wimpy hair, and a
hesitation in his speech. He talks their language: a mix of misspelled
French ("meet me at the centre"), English, and Eh(?).; One night in 1996,
the BC government secretly sent us some economists by the truckload to
destroy California.; The utilities probably paid for the bus tickets.; I
happen to know that Frank Wolak, Chair of the ISO Market Surveillance
Committee once lectured at a University in Vancouver, B.C..; What more
evidence do you need?; The BC Government sent us cheap hydro power, sold at
inflated market prices so that they could do what the citizens of
California wanted to do with their budget largess ? build roads, schools,
and hospitals. They didn't think we could figure out their plot, but we
did.; Now is the time for California to counter-attack.; We'll send them
some of our politicians, a bipartisan group including a few who can add,
and some of our select energy thugs from the CPUC and the Blind Oversight
Board.

Speaking of times and situations, there was a time when discussing the ISO,
words such as "communist" and "Nazi" were only uttered, by my pal, Carl
Imparato,.; We would shake our heads, and chuckle at Carl's extremism.; We
aren't laughing now.; The descriptors seem to arise again and again in
polite conversation by a wider circle of people.; I watch with utter
amusement (because the alternative is retching breakfast) at the
demagoguery of the ISO Governing Board, the Market Despair Team, the
Governor's office, and some members of the California Legislature. Like an
audience watching a tragedy from hell, we scream aloud, "These people are
crazy!"; And indeed, they are.; Mr. President is not helping us at all by
continuing to wrangle over who gets the musical Chair at FERC ? Bubba Curt
or Bubba Patrick.; Listen to us, Mr. President.; Let Bubba Curt keep the
reigns for a year or two, and let Bubba Patrick take a seat at the table.
We need someone with a shockproof BS detector.; Someone who can honestly
field a motion to dismiss the California ISO.; The time is long overdue to
shoot this horse in the head.

Not all is evil.; This week in Houston, the resource capital of California,
I visited the trading floor folks at Dynegy, before attending the WTPF
Board meeting.; The coolest thing I saw, besides all the neat gadgets on
each trader's desk, was the coffee machine.; Brother Jolly Hayden showed me
how to use it.; You pick the type of coffee you want.; The contents of the
coffee are in a shot-glass sized plastic tub with a foil top.; I picked
Venezuelan #6 Decaffeinated Waxy Crude.; The tub is placed inside the
brewing machine, and the start button is pushed.; Presto, coffee drips from
the spout into a waiting cup.; I asked Jolly, "How did the hot water get
mixed into the ground beans?"; He removed the tub from the machine and
showed me a pin prick hole made in the foil top, and another that was made
at the bottom.; Is that neat, or what?

I would like to buy a brewing machine just like the Dynegy coffee machine,
but a little larger.; I would set up a booth in Sacramento, on the corner
of 11th and "L", and bark out to passing members of the Legislature, "Free
space shuttle. Come and see life on other planets."; They would jump at the
chance to visit other planets.; I would seat them in the machine, push the
start button, and voila.; Dripping out would be the essence of democracy.
Don't worry about the holes needed at the top and the bottom.; They are
already there, and quite enlarged.

Back to my day at Dynegy.; Trade floors might seem similar across
companies, but the small differences speak to the management style embraced
by the crew and its leaders.; Each electric trading desk, for various parts
of the country, is set up a little bit differently.; For example, some
desks have a person doing asset-backed trading, but some don't.; When I
arrived at 6 a.m., Houston time, the Eastern desk was busy in its trade
day.; The Western folks hadn't arrived, yet.; Later, I sat with Randy
LeForce of the Western desk.; "Captain LeForce, to you", he told me.; He
could talk big because Dave Francis, who sits next to Randy, and hangs
witty quotes from the ceiling above his head ("Even a blind pig could make
money in this market"), was on vacation.; As the pace of the trading
gathered steam, Randy kept an eye on all the different people working the
Western trading desk.; The Captain worked it like a maestro.

During my visit, some Dynegy folks came up to me, introduced themselves,
and said how much they enjoyed the Friday Burrito.; I'll tell you what.
There are few things in life that give me as much satisfaction.; Complete
strangers who tell you that something you do makes them feel good, well, it
doesn't get any better than that.; Garrison Keillor, the well-known author
of Lake Woebegone Days, and NPR radio entertainer once said a writer should
have an audience.; Not everyone in the world should be in the audience, but
an audience nonetheless of some people.; I now know what he means.; And the
people I met on the trading floor felt like they knew me, and shared with
me their thoughts and opinions on a lot of things.;; Often they asked me,
"Are those California people really that crazy?"

Since last week, you might have noticed the pace at the FERC has picked up,
somewhat.; Last Friday the FERC issued an Order on possible refunds for
alleged overcharges by parties selling to the ISO last January.; That was
news worthy.; Then, on Wednesday, the FERC issued an Order to remove
barriers to additional electric generation in the West.; The Order admits
that it won't change the dire situation in the West, but these are steps in
the right direction.; The FERC also issued on Wednesday a show-cause order
to AES and Williams regarding the maintenance of RMR units that were called
by the ISO in April and May of 2000.; That is a serious case that we must
watch closely.; Also this week, the California Senate kicked off its own
investigation (this will be the tenth such investigation of the California
markets to uncover alleged price manipulation).; The Senate Committee will
have subpoena rights, and if I understand it correctly, they plan to
subpoena individuals.; Sounds like a Kangaroo Court and a Three-Ring
Circus, to me. Thursday, Secretary Abraham stated in a congressional
hearing that the West would certainly experience power outages this summer.
Finally, an LA Times reporter asked me if I had heard that a small QF
company had filed for seizure of SCE property to satisfy an outstanding
debt.; That would be step one of the bankruptcy cha-cha.; All in all, a
typical week among crazy people.

Let's see what else we can talk about.

Things in the People's Republic of California
;@@@ PUC Updates Utility Liabilities
;@@@ Be a Source for Energy Price Update
;@@@ BPA Misquoted in the WSJ

Things FERC
;@@@ Market Monitoring Proposal

Letters

Jobs and People

Odds & Ends (_!_)
================================

Things in the People's Republic of California
;@@@ PUC Updates Utility Liabilities

My favorite regulator, the California PUC, issued an Order in the
Utilities' Rate Stabilization case to re-open the record on utility audits.
Although the text of the order is unremarkable, the data tables bring up to
date, as of March 8, the outstanding liabilities of PG&E and SCE.

The PG&E commercial paper obligation due as of March 8 increased by $354
million since January 31, for a total default amount of $790 million.; QF
purchases increased by $280 million for the same five-week period, now
totaling $651 million.; The ISO payments increased $934 million, now
totaling $1.5 billion, and the direct access charge backs for negative PX
credits increased $214 million, now totaling $433 million.; PG&E's total
default amount is now $3.3 billion excluding amounts yet to be collected
from PG&E customers for DWR purchases.

The SCE balance is as follows: The commercial paper obligation that is due
as of March 8 increased by $260 million since January 31, for a total
default amount of $401 million. SCE defaulted on a significant amount of
long-term debt principal and interest, roughly $249 million.; QF purchase
defaults increased by $354 million for the same five-week period, now
totaling $835 million.; The ISO obligations decreased $1.1 million, and the
direct access charge backs for negative PX credits increased $21 million,
now totaling $25 million.; SCE's total default amount is now $1.7 billion
excluding amounts yet to be collected from SCE customers for DWR purchases.

There is little question that the QFs are taking it on the chin, big time.
In the last five weeks, between January 31 and March 8, the defaulted
payments to the QF owners from both utilities has increased $630 million.
The total QF default for both utilities as of March 8 stands at $1.5
billion.; Does anyone wonder why 1500 MW of QF capacity has shut down in
California?; Without these payments being made very soon, I would expect
the amount of shut down QF capacity to easily double, or more.; Why would
these projects produce without the promise of being paid?

Things in the People's Republic of California
;@@@ Be a Source for Energy Price Update

Art O'Donnell, editor and associate publisher of the well-known and widely
read California Energy Market (CEM), is looking for traders willing to
participate in his survey in exchange for receiving an advanced copy.; The
Survey is a regular feature in CEM. The information collected by Art is
matched against the responses of the other people he interviews and some
posted sources (Pricewaterhouse Coopers; BPA's daily offerings, for
instance).; It is written up in narrative form. The report goes out twice
weekly, once on Wednesday afternoon/evening via e-mail as a courtesy to the
respondents (because the week is pretty much done by then), and a rewrite
on Friday that is e-mailed around 10 am, posted on the newsdata.com Web
site, and published in the newsletter for general consumption. The Friday
report also features a brief story about natural gas markets in the West

The WPTF Board of Directors has allowed me to publicize this offering, and
to explain that if your company is interested in participating, the
information you provide to Art would be protected as confidential.; In
Art's words, "The price survey is ? unlike some attempts at creating a
tradable index number (e.g. McGraw-Hill's Power Markets Week index or the
Dow Jones indices), is more of a narrative about the state of the market d
a pulse reading as opposed to a blood pressure number or an EKG. As such, I
do not ask traders and schedulers for precise dollar figures or volumes
associated with specific trades, but rather questions like, 'What's
Mid-Columbia going for today? What about off-peak? How has that changed
since this morning? Oh yeah, why is that? Anything else I should know?'"

The WPTF Board asked Art to explain how the information he collects would
be protected since so many marketers and generators are under State data
subpoenas.; Art replied, "The Constitution of the State of California
provides for a blanket immunity against government intrusions for news
gathering from confidential sources and unpublished information, something
which we believe in strongly at Energy NewsData Corporation and which we
are willing to go to jail to protect. So if, for instance, the Attorney
General tried to subpoena me or anyone from my staff about power price
information, we would 1) refuse to divulge anything other than the already
published accounts, 2) send back a copy of the Constitution, 3) contact the
attorneys for the Society of Professional Journalists, and 4) start
preparing a benefit party to raise legal fees. "

If you would like to participate in Art's survey, please e-mail him at
aod@newsdata.com.

Things in the People's Republic of California
;@@@ BPA Misquoted in the WSJ

In last week's Burrito, I referred to a Wall Street Journal article that
portrayed a BPA trader as admonishing the DWR for accepting bids over
market prices.; I was surprised when I received the following e-mail from
BPA's David Mills.; His message to me copied a letter he sent to DWR's Ray
Hart, explaining what he meant as opposed to what he was quoted as saying.

Dear Ray:

As per our telephone discussion, I just wanted to reiterate a few things
re:the Wall Street Journal article and the quotes attributed to me.; At no
time during the interview with Ms Smith did I state that I thought that
CDWR's offers were out of line with the prevailing market price in
California or that your traders should check that price before entering the
market.; The reporter was quite interested in the price difference between
California and the MidC price here in the Northwest and when I asked I told
her that currently that price delta was roughly $50-$100 MWhr, with MidC
being lower than the CA prices.; I did not indicate to the reporter that I
thought that CDWR was paying more than the California market price and was
simply trying to make a comparison of price relativity between California
and the Northwest.; Lastly, BPA has, on occasion, charged extra-regional
entities less than the prevailing market price but has only done so to
remain consistent with our own pricing strategies.

;I apologize for any misconceptions or miscommunications that may have
resulted from this and look forward to a continuing working relationship
between CDWR and BPA.

Things FERC
;@@@ Market Monitoring Proposal

FERC Staff issued a report with "Recommendations on Prospective Market
Monitoring and Mitigation for the California Wholesale Electric Power
Market."; WPTF members are taking this proposal very seriously, and we
intend to provide comments on March 22.; If you are interested in a copy of
the report, go to http://www3.ferc.fed.us/bulkpower/bulkpower.htm.

General members are able to participate along with the Board members and
other general members working on our response.; We have retained the
services of Dr. Ben Zycher of the RAND Corporation to help us draft the
policy issues.; He will be working with our counsel, Dan Douglass of Arter
& Hadden to craft our reply.

In short, our submission will point out the flaws in FERC's proposed
methodology, and demonstrate the shortcomings of narrowly limiting the
definition of producer marginal cost to operating variable cost.; Further,
excluding measures of credit worthiness are an important missing variable
in the FERC analysis.; Next week, I will include a short summary of our
response in the Burrito.

Letters

I received a note from one of our legal beagles that drop me a line every
now and then.; I don't have the facts of the case to which this person
refers, but I hope the sender provides us with an update if a judgement
should occur. "Universal Studios wants FERC to find that Universal owes no
penalty to SCE for not interrupting its interruptible load (under a CPUC
rate schedule) because SCE did not adhere to the FERC requirement in the
Dec 15 order to schedule 95% of its load in the day ahead market ......
according to Universal, if SCE had done so, then it would have had to
provide Universal power at below its cost.; SCE didn't and Universal; got
interrupted and now Universal owes $$$$$$$$$$$$$."; Does anyone else know
about this filing?

Lind Guerry, veteran of the PX halcyon days, wrote, "Hi Gary.; Hope you're
having a nice day.; Just wanted to let you know that I'm really enjoying
the Burrito, and am so glad you're sending it to my home email.; I really
got a kick out of the "Ten Reasons...."; It's hard to believe that our
wonderful state is in such incompetent hands, isn't it?; And not only are
they incompetent, they continue to remain so, with such regularity, you
could probably make a killing marketing their incompetence as a laxative.
Do you think if we tried to do that, we'd get accused of exercising market
power? Think of the power we'd wield, as the holder of the largest amount
of incompetence!! "

Lind, we need a product name for the laxative idea.; Any ideas? How about
Sane Away?

Jobs and People

The folks at Dynegy sent me a couple of job postings.; If your company has
similar posting or job openings, or if you are reader looking for a new
gig, drop me a line.; After all, it's free.

Position Description:

Dynegy's position has responsibility for the development of transmission
and power markets in a geographic region of the U.S.; Duties are driven
primarily by federal, regional, and state activities to restructure and
deregulate the electric power industry, and the need for industry
participants to develop and implement market structures, policies, and
regulations that promote liquid and competitive transmission and power
markets.; Significant activity within a region to reshape the structure and
operation of the transmission grid is resulting from FERC Order 2000, which
directs the establishment of Regional Transmission Organizations. Extensive
travel (40%-60%, and higher at times) is highly probable. Primary goals of
this position are to:1) Create more liquid and competitive transmission and
power markets;; 2) Maximize the value of Dynegy's positions and assets by
working closely with the trading and power groups to develop;; and
implement commercial strategies that create and capture significant
business opportunities; and 3) Provide timely and accurate information,
market intelligence, and recommendations to clients. 4) Maximize the value
of Dynegy's positions and assets by working closely with the trading and
power groups to develop and implement commercial strategies that create and
capture significant business opportunities; and recommendations to clients.

Interested parties should contact Jolly Hayden at jjha@ngccorp.com.

Odds & Ends (_!_)

First, I would like to welcome WPTF's newest general member, Wellhead
Electric.; Hal Dittmer is the founder and president of Wellhead.; I have
known Hal for a couple of years, first as a client for my over priced
consulting services, and later as a friend and source of all kinds of
useful information.; Wellhead is one of those QF owners who are owed a
boatload of money.; However, Hal's company is developing some new projects,
and he is looking for prospective power buyers.; Hence, his interest in
WPTF is obvious. Wellhead is WPTF's 31st member.

Well, the Dynegy gang has been a source of comfort and joy to me this week.
They couldn't let me leave their abode without stuffing a song in my pocket
that is a tribute to their creative skills.; Timely too.; Sing it to the
tune of "California Dreaming", by the Mamas and the Papas.

                              ISO California
                     (to the tune of Hotel California)

On a dark Western highway
No wind in my hair
No rain for the hydro
No NOX in the air
Up ahead in the distance
I saw a flickering sight
The load grew heavy and the lights grew dim
No relief in the night
So we stood in the darkness
Down at the Taco Bell
And I was thinking to myself
This could be Heaven or this could be Hell
We lit up a candle
No power in the Bay
There were voices down the corridor
I thought I heard them say; ?

Welcome to the ISO California
Such a lovely place
Such a lovely place
Such a lovely face
Powering up for the ISO California
What a nice surprise
What a nice surprise
Bring your alibis; ?

Its mind is policy twisted
Can't stop consumption trends
Got a lot of NIMBY boys
Cisco calls friends
How we sweat in the courthouse
Sweet summer sweat
Without the AC
We try to forget
So I called up the Gov'nor
Please energize this line
He said
We haven't built a new plant here since 1969
Last thing I remember
We were running for the door
We had to find the passage back to the place we were before
Relax said Judge Damrell
California's programmed to receive
Go belly up any time you like
But your power can never leave

[refrain]

==========================
Don't refrain.; Have a great weekend, y'all.
gba


-----Original Message-----
From: 	Steffes, James D.
Sent:	Friday, January 04, 2002 4:05 PM
To:	Kitchen, Louise
Cc:	Comnes, Alan; Novosel, Sarah; Calcagno, Suzanne; Montovano, Steve; Yeung, Charles; Dasovich, Jeff; Nicolay, Christi L.
Subject:	NETCO Re-Start

Louise --

Attached is the Govt & Reg Affairs Re-Start Plan for Netco.  As you know we are already making calls and preparing for the FERC power marketing certificate.

Let me know if you need anything else.

Jim


Yolanda gave me the name of the songs--they are

"I Believe in You and Me" by Whitney Houston

and

"Kissing You" by Faith Evans


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Press Release
Charter, DIVA Expand Agreement to Deliver Video On Demand to a Total of 1.7 Million Customers
ST. LOUIS, Mo. and REDWOOD CITY, Calif.--(BUSINESS WIRE)--July 18, 2001--
DIVA's Dominance of Commercially Deployed VOD Markets
in the U.S. Surpasses 60 Percent
Charter Communications Inc. (Nasdaq:CHTR  - news ), the nation's fourth-largest cable operator, and DIVA(TM), the video-on-demand solutions leader for the cable TV industry, today announced a new agreement that will expand the total number of Charter customers capable of receiving VOD via DIVA's software and hardware solutions to 1.7 million.
Building on their existing agreement, Charter and DIVA will bring VOD to new markets across the country, continuing the strong momentum of DIVA's VOD rollouts in the U.S. This rollout follows recent Charter deployments in St. Louis and three of the 10 largest U.S. television markets: Los Angeles, Fort Worth and Atlanta. Charter is deploying the service on both Scientific Atlanta and Motorola digital set-top boxes.
``Although it's early in the deployment cycle, we're already seeing significant benefits from Video on Demand,'' said Steve Silva, Senior Vice President of Corporate Development & Technology for Charter Communications. ``VOD is a compelling return for our investment, both from incremental revenue and customer retention. Charter believes DIVA's integrated solutions, repeatable implementation process and high quality of support and service enable us to provide our customers with the best VOD service available today. From the comfort of their homes, our customers can experience the convenience of gaining access to a large library of DVD-quality programming content with full VCR functionality, a service that our satellite competitors cannot duplicate or provide.''
``We have remained committed to delivering the most comprehensive, easy-to-use VOD solutions to the cable industry. The additional Charter deployments have significantly expanded our agreement and have enabled DIVA to maintain its position as the leader in VOD,'' said Henk Hanselaar, President and CEO of DIVA. ``Charter is a key partner for DIVA because of its aggressive approach to providing consumers with the most advanced digital cable offering today. Charter's ability to roll out VOD services and provide high-quality support to its customers make it a leader in the cable community. We are pleased to serve more Charter customers and look forward to continuing our goal of deploying VOD in more neighborhoods across America.''
With DIVA's technology, Charter's customers have complete control over their viewing experience and, with VCR-like capabilities, can watch new releases, classic films and basic and premium cable programming including Discovery Channel, PBS and ESPN, as well as children's programming. Charter and DIVA are also exploring the opportunity to offer content via Subscription Video On Demand (SVOD) packages. With SVOD, a customer would have unlimited access to view titles within the SVOD package, without incurring additional fees.
Today's announcement of additional rollouts in key markets affirms the high level of commitment both DIVA and Charter share in delivering the best VOD solutions today.
About Charter
Charter Communications (Nasdaq:CHTR  - news ), a Wired World(TM) company, is among the nation's largest broadband communications companies, currently serving some 7 million customers in 40 states. Charter provides a full range of advanced broadband services to the home, including cable television on an advanced digital video programming platform marketed under the Charter Digital Cable(TM) brand; and high-speed Internet access marketed under the Charter Pipeline(TM) brand. Commercial high-speed data, video and Internet solutions are provided under the Charter Business Networks(TM) brand. Advertising sales and production services are sold under the Charter Media(TM) brand. More information about Charter can be found at www.charter.com .
About DIVA
DIVA Systems Corporation (www.divatv.com ) is the nation's leading video-on-demand (VOD) provider to the cable television industry. DIVA has either deployed or has commitments to deploy in 26 markets by three of the top eight U.S. operators, AT&T Broadband, Charter Communications and Insight Communications, which together reach 44 percent of all U.S. digital cable subscribers. DIVA offers a choice of services in a complete VOD solution, including content aggregation and distribution, software and server technologies, billing and support services. Founded in June 1995, DIVA is a privately held company and is headquartered in Redwood City, Calif. DIVA's strategic investors include Charter Communications, NTL, OpenTV, Starz Encore, Liberate and Motorola. More information can be found at www.divatv.com.
This press release contains 'forward-looking' statements pertaining to DIVA, including, but not limited to, the ability of DIVA to provide large scale deployment of its video-on-demand and subscription video-on-demand products and services to Charter Communications' customers effectively, in a timely manner, and customer acceptance thereof. Actual results may vary from anticipated results and such differences may be material based on a number of factors, including the commercial viability and scalability of DIVA's video-on-demand products and the extent of Charter Communications' deployment of these products.
_______________________
Rebecca Watkins
Enron Broadband Services
713-853-5605 (office)
713-302-9370 (mobile)
713-646-5745 (fax)
rebecca_watkins@enron.net


Thanks for remembering their birthdays.  Drive carefully!!  See you sometime
this weekend


John Cornyn Respect for Law Day
DOWNTOWN OPTIMIST CLUB OF HOUSTON
Charitable Foundation
Dear Friend of Youth:
Find out what Texas Attorney General John Cornyn is thinking about "Texas
Exile" and other issues important to you along with other successful Texans
such as yourself at the Downtown Optimist Club of Houston's 30th annual
"Respect for Law Day" luncheon Thursday, May 4, 2000 at the Sheraton
Brookhollow Hotel, 3000 North Loop West @ Hwy 290. The luncheon will be held
from 11:30 AM to 1:15 PM.
Show the General you support law enforcement officers from city, county,
state and federal agencies by your attendance. Honorees will be recognized
for outstanding law enforcement service to our community. Our keynote speaker
will be Texas Attorney General John Cornyn. The Master of Ceremonies will be
Dan Patrick with KPRC-950 radio
Please join us in making this year's "Respect for Law Day" a huge success.
Support these outstanding officers by sponsoring a table of eight (8) for a
tax-deductible contribution of $250.00. Individual seats are available for a
tax-deductible contribution of $ 35.00.
Attached is a reservation form for your table sponsorship or individual seat.
Please indicate the number of tables you would like to sponsor and return the
form along with your check.
Thank you for your continued support in helping us to honor our law
enforcement officers.
Sincerely,
Detective Ron Horowitz - Houston Police Department
Respect for Law Day Chairman
1
The Downtown Optimists Club was founded in 1924 by a number of prominent
Houstonians such as Emanuel Olshan of Olshan Lumber Company, Judge Roy
Hofheinz, humorist Morris Frank whom the Morris Frank Library is named after
and Phil Rich of the Phil Rich Fan Company whose Windmaker Fans cooled
Houston Public School students until the introduction of air conditioning.
This makes the Downtown Optimist Club of Houston the oldest Optimist Club in
Texas. In 1947 the Downtown Optimists founded the Boy's and Girl's Harbor in
LaPorte, Texas at the old Ross Sterling Mansion. The Harbor currently houses
over 65 children without any government funding..

DOWNTOWN OPTIMIST CLUB OF HOUSTON
Charitable Foundation
550 Westcott, Suite 440
Houston, Texas 77007
(713) 880-1292
30th Annual RESPECT FOR LAW DAY LUNCHEON
May 4, 2000
______ Yes, I would like to purchase_____ tables for this year's luncheon.
______ Yes, I would like to purchase_____ ticket(s) for this year's luncheon.
______ I am not able to attend. Please accept my donation of $___________.
Please reserve my table in the name of________________________________
                                                                    Company
Name
Please list the names of those guests attending:
______________________ ______________________ ___________________
______________________ ______________________ ___________________
______________________ ______________________
Table of eight (8) cost - $ 250.00
Individual ticket cost - $ 35.00
Please make your check payable to: Downtown Optimist Club-Charitable
Foundation
Please call Robert Desmond at (713) 880-1292 or fax to (713) 880-2370 with
the names of those people attending with you at your reserved full or partial
table. This is necessary also for those individuals purchasing single tickets.
The Downtown Optimist Club of Houston Charitable Foundation is a 501-(c) (3)
non-profit organization dedicated to the children of this area. Your support
will continue the long-term tradition of this club on helping today's youth.
Please RSVP by April 25, 2000.  Thank you.

 - att1.htm
 - image001.png
 - image002.jpg
 - image003.jpg


Today, Enron hosted a conference call to give investors a current overview of the company. Here's an update of what we discussed during the call.

We told investors that we're doing everything we can to protect their interests and to regain their confidence. Our focus remains on our credit quality, balance sheet and liquidity, which are essential for our continued success and expansion of our wholesale businesses.

It took more than a few weeks to get where we are today. Here's a snapshot of significant events that led to our current situation:

-- In hindsight, we definitely made some very bad investments in our non-core businesses over the past several years. Those include investments in Azurix, India and Brazil. They have performed far worse that we could have ever imagined when we made these investments;

-- Because of these bad investments, we've become over-leveraged as a company. The negative impact of those investments was exacerbated through the extensive use of debt capital both on and off our balance sheet;

-- We also entered into related party transactions that led to a loss of investor confidence, which has been very damaging;

-- We've been criticized for our lack of transparency and our hard-to-understand financial and operating disclosures; and

-- On top of it all, we discovered errors in our financial statements, as discussed in our 8-K filing last week, that required a restatement of previously reported earnings.

We've taken a new look at our businesses and have separated them into three areas: core businesses, non-core businesses, and businesses under review.

Core Businesses

Our core businesses remain strong and consistent sources of significant earnings and cash flows for the company. They're our competitive advantage. These include:

-- Natural gas pipeline businesses;

-- Gas and power businesses in North America and Europe;

-- Retail businesses in North America and Europe; and

-- Coal businesses in North America and Europe.

The events of the past few weeks have had a temporary negative impact on our projected fourth quarter profitability. It's too early to tell at this time what impact this might have on our operating results. We are considering these actions now so that we can quickly return to normal business in 2002.

I also remain optimistic that the actions we've taken over the past couple of weeks have addressed our customer and counterparty credit and liquidity concerns. According to our business unit leaders, we have definitely seen improvement in our counterparty relationships.

Non-Core Businesses

Our non-core businesses include our global assets group and our broadband division. We have invested more than $8 billion in these businesses, and the return from them has been dismal.

We have an aggressive program in place to exit these businesses and expect that the sale of these businesses will generate billions of dollars in cash that we can use to repay debt and reinvest in our core businesses. We already have more than $800 million in assets contracted for sale this year. They include CEG Rio, a gas LDC in Brazil; EcoElectrica, a power plant and LNG receiving terminal in Puerto Rico; and asset sales of offshore oil and gas properties in India. The approximately $2.9 billion Portland General sale is also on target to close in late 2002 pending regulatory approvals.

Businesses Under Review

These businesses are comprised of those operations outside our power and gas wholesale businesses and include global and industrial markets. While several of these businesses have very strong future prospects, we need to determine if their capital requirements and near-term growth prospects are sufficient enough in terms of earnings and cash generation.

Reviewing our businesses this way will help determine where we need to make reductions to our work force. More information will follow as soon as it becomes available.

Credit Rating/10-Q Filing

We continue to meet regularly with credit rating agencies and believe that our liquidity enhancements and scheduled asset sales will strengthen our balance sheet and maintain our investment grade credit rating. Our current credit ratings by the three major rating agencies are as follows:

-- Moody's at Baa3       "Under Review for Further Downgrade"

-- Fitch at BBB-             "Evolving Status"

-- S&P at BBB-              "CreditWatch Negative"

We also discussed our existing financial vehicles, including Osprey, Marlin and Yosemite, in further detail. We told investors that we will file our 10-Q five days late due to our current activities. It will be filed on Nov. 19.

We will continue to have updates with investors over the coming weeks as well as our frequent updates with you. The full transcript of our conference call will be filed with the Securities and Exchange Commission in the next few days. It will also be posted on our web site at www.enron.com/corp/investors under "SEC Filings."

In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission. Investors and security holders are urged to carefully read the joint proxy statement/prospectus regarding the proposed transactions when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (when it is available) and other documents containing information about Dynegy and Enron, without charge, at the SEC's web site at www.sec.gov. Copies of the joint proxy statement/prospectus and the SEC filings that will be incorporated by reference in the joint proxy statement/prospectus may also be obtained for free by directing a request to either: Investor Relations, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone: (713) 507-6466, Fax: (713) 767-6652; or Investor Relations, Enron Corp., Enron Building, 1400 Smith Street, Houston, TX 77002, Phone: (713) 853-3956, Fax: (713) 646-3302.

In addition, the identity of the persons who, under SEC rules, may be considered "participants in the solicitation" of Dynegy and Enron shareholders in connection with the proposed transactions, and any description of their direct or indirect interests, by security holdings or otherwise, are available in an SEC filing under Schedule 14A made by each of Dynegy and Enron.


Per my phone mail message, I need your help on the following:

1)  The IT persons who are holding the meeting Nov. 16-17 are anxious to meet
with the
Legal scholar that will be filling you shoes.  Do you have a name?  Would it
be better  for
us (the IT group and myself) to prepare an agenda of what the person should
cover?

2)  I forwarded you various questions that the ENA IT group had raises about
Houstonstreet.com
and PriceQuote.com.  Have you had a chance to review the questions?  This, of
course, will
become an issue before we know it.

NOTE: Another heads-up

Did you know EOL is working to allow brokers to do deals online in the name
of a Counterparty?
In other words, (i) a broker might do a deal online as Dynegy, (ii) ENA will
confirm the trade as a
telephonic trade between ENA and Dynegy and brokered by X.  The confirmation
will have no
mention of EOL anywhere.


This is an OK bill.  Not well drafted. It's also overly complicated and
proscriptive.

Deletes the offensive part of ABX 1.
It allows anybody to do whatever they want until June 1 (section 2 d)
On June 1,
  - res and small commercial customers can get in a cue and get DA up to the
# of MWs that are added through load growth. (Section 2 e)
  -- Larger customers would pay an exit fee. (section 2 f)
  -- DA customers would be a entrance fee to return to IOU service (Section 2
g)

There is also a confusing section (2 c) that says a retail customer is only
stuck with CDWR for the proportion of power that CDWR provides.  The way it
reads, if CDWR is providing 40% of the IOUs' power, the retail customer can
get DA for 60% of its load.  I doubt that will fly -- too difficult to keep
track of and ISO will oppose (only one scheduling coordinator/meter)

A conference call and meeting is scheduled with parties tomorrow on this
language.

Will keep you apprised.

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 03/01/2001 04:28 PM -----

	Scott Govenar <sgovenar@govadv.com>
	03/01/2001 04:02 PM

		 To: Jim Steffes <james.d.steffes@enron.com>, "Harry.Kingerski@enron.com"
<Harry.Kingerski@enron.com>, Alan Comnes <acomnes@enron.com>, Leslie Lawner
<Leslie.Lawner@enron.com>, John Neslage <john.neslage@enron.com>, Susan J
Mara <smara@enron.com>
		 cc: Jeff Dasovich <jdasovic@enron.com>, Mike Day <MDay@GMSSR.com>, Sandra
McCubbin <Sandra.McCubbin@enron.com>
		 Subject: SBX 27

Attached, please find the proposed amendments to SBX 27 (Bowen) relating
to direct access.  There will be a direct access coalition conference
call tomorrow to discuss current events as well as the new language.

 - SB27Xlanguage.doc


This  is  a very good  synopsis of  how  retail markets  are  responding  to
US power peaks this summer
---------------------- Forwarded by Margaret Carson/Corp/Enron on 07/31/2000
08:21 AM ---------------------------

webmaster@cera.com on 07/27/2000 10:22:50 PM
To: Margaret.Carson@enron.com
cc:

Subject: Weathering the Summer Price Volatility and Highs--How Will Retail
Marketers Fare? - CERA Alert

**********************************************************************
CERA Alert: Sent Thu, July 27, 2000
**********************************************************************

Title: Weathering the Summer Price Volatility and Highs--How Will Retail
Marketers Fare?
Author: Biehl, Behrens, Reishus
E-Mail Category: Alert
Product Line: Retail Energy Forum ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=3014&m=1291 ,

Alternative URL:
http://www.cera.com/client/ref/alt/072700_16/ref_alt_072700_16_ab.html

**********************************************************************

This summer retail marketers have been confronted with extraordinarily
difficult market circumstances for both gas and power. So far this summer,
average weekly power prices have risen above $100 per megawatt-hour (MWh) in
several markets--almost double many of the standard offer levels. This
differential between market prices and standard offers has made it almost
impossible for retail marketers to offer customers an attractive service
proposition in many areas of the United States open to competition.
Similarly, in the gas market this summer (May through June) prices at the
Henry Hub have averaged $3.92 per million British thermal units (MMBtu), well
above the average of $2.62 per MMBtu during the same period last year. In
some cases, the volatile gas and power markets this summer are proving lethal
to retail marketers that chose to ride the spot markets rather than properly
hedge their purchases and who lack the balance sheet strength to carry the
burden. In addition, som!
e retail marketers have experienced difficulty with contract fulfillment by
their wholesale suppliers, even when the retailer may have felt secure going
into the summer. As a result of these market conditions, a few marketers have
even relinquished their customers, returning them to the utilities who are
the default suppliers.

Retail marketers serving these difficult markets (which include the West,
PJM, and New England) are approaching the current situation with a number of
different strategies, including

*  selling either part or all of their customer base

*  continuing to serve their existing customers but not renewing their
contracts and planning to exit the market

*  turning customers back on utility service

*  continuing full steam ahead

The irony of this situation is that high prices over the next few years may
actually help increase consumer awareness about competitive energy supplies
and may even cause utilities under unrecoverable price cap rates to question
whether they should remain in the merchant business. Uncertainties whether
retail marketers can withstand these conditions and regulators and other
interested parties will tolerate a sustained period of both high and volatile
prices or if instead they will step in and adjust the rules in the name of
protecting retail customers.

In this briefing CERA examines the question of whether one possible fallout
from this summer's high and volatile energy prices will be increased
consolidation among retail marketers, as retail customers (and/or businesses)
begin to be actively bought and sold. We also examine the implications on
retail markets of recent federal legislation supporting the legality of
electronic contracts. In addition, we focus our first regional analysis on
the regulatory developments and retail activity in the Northeast states and
Canadian provinces--one of the most dynamic regions in terms of retail energy
activity.

Retail Metrics

Trading Retail Customer Bases: Avenue for Building Market Share

Although the impact of volatile and high energy prices this summer may be
bleak for many retail players, for a new entrant and/or contrarian buyer,
this could be an excellent time to pick up customers "on the cheap" and build
market share. In the past month there have been three notable cases of retail
energy companies buying retail customer bases from other companies--in some
cases just the retail customers have been purchased and in other cases whole
retail energy businesses have been purchased. Examples include

*  North American market entry strategy. Centrica, an energy marketing
business in the United Kingdom, purchased Direct Energy, an energy marketing
business in Canada that also has a joint venture with Sempra called Energy
America. Through its acquisition of Direct Energy, Centrica acquired 820,000
Canadian gas customers and 27.5 percent ownership interest in Energy America,
a US company that has 450,000 gas and power customers (see Table 1). In
addition to gaining access to the largest retail customer base in North
America, Centrica was able to buy a company with significant experience in
various North American retail markets.

*  Gaining critical mass for an IPO. The New Power Company (a joint venture
between Enron, IBM, and AOL) recently acquired over 300,000 gas and power
customers from Columbia Energy Services as a way to quickly build market
share before an initial public offering, for which a request has recently
been filed with the Securities and Exchange Commission.

*  Building market share. Energy America acquired 50,000 gas customers from
Titan Energy, an energy marketer in Georgia, after the latter filed for
bankruptcy.

In the two cases of bankruptcy, mass-market gas customers were purchased in
the range of $44-$112 per customer. It appears that purchasing a base of
retail customers is a cheaper form of buying market share than purchasing an
entire company or division. For example, Centrica paid between $480 and $645
per customer in its purchase of Direct Energy's business. This metric is
somewhat misleading, however, as the purchase of Direct Energy also included
upstream gas assets.

The three recent transactions join the list of retail customer acquisitions
over the past year or two (see Table 1). These transactions are generally
occurring for three common reasons: either as a result of a retail marketer
bankruptcy (e.g., Titan Energy and Peachtree Gas), because companies are
changing their strategic focus (e.g., NiSource/Columbia Energy and PG&E), or
as a market entry tool (e.g., AES, Centrica, New Power). CERA expects many
more players to consolidate and exit the business this year, particularly in
the aftermath of the summer market.

The idea that the current climate might offer a good buying opportunity for
retail customers has not been lost on the market. While existing retail
markets are struggling to make ends meet, the number of marketers requesting
certification has increased in some places such as Massachusetts, where it is
expected these new entrants will attempt to purchase other marketers'
businesses.

Table 1 shows extreme differences in prices paid for retail customer bases
(on a total-cost-per-customer basis), since a wide variety of factors
contribute to the cost of a customer and/or a retail business. CERA does not
suggest that this table provides an apples-to-apples comparison on the cost
of a customer. In terms of just pure customer acquisition costs there can be
significant regional differences in the value of a customer owing to average
use per customer and local market conditions. For example, a residential gas
customer in Georgia will likely use far less gas than one in Michigan and
should be valued differently as a result. Other factors such as buying
habits, load size, existing contracts, and future potential growth in the
market need to be evaluated to determine the proper valuation of customers.
In addition, a myriad of factors can affect the value of a retail company,
including what other capabilities, assets, and other factors are part of the
deal, separat!
e from the customer base and underlying contracts.

Retail Market Share Consolidation Could Be the Trend over the Next Year

Although the buying and selling of retail customers through aggregators was a
common feature of Ontario gas restructuring, this tactic has not been as
prevalent in the United States for two reasons. Marketers have been
distrustful of the methods of acquisition of other players and are therefore
skeptical about the loyalty of customers if they were to be acquired through
a purchase. Additionally, many have felt that they could acquire customers at
a much lower cost than by purchasing an existing customer base.

This historical reluctance to buy retail customer bases seems to be changing,
and will likely continue to change in the future. Over the past few years
there has already been a maturation of many of these marketers and of the
rules that they must obey. In addition, as larger name companies enter the
retail markets, the risk associated with buying a customer base that had been
acquired through questionable means has been drastically reduced.

With the emergence of significant players such as Enron, Centrica, and Shell
into the retail market,  further customer buyouts will occur as these and
other large players work to gain enough scale to make the retail business
significant to their bottom line. The new breed of retail marketers may be
better capitalized to play the short-run game of building market share as
well as the long-run game. As a result, these players may be able to achieve
scale in a market where no single company has achieved significant scale to
date. In addition, many of these companies have strong wholesale marketing
capabilities to support their retail marketing capabilities, inform their
contracting practices, and help shield them from being on the wrong side of
volatile markets.

Market Developments

New Law Removes the Wet Signature Barrier, but Lack of Uniform Rules Persists

The regulatory requirement for retail energy marketers to obtain written
("wet") signatures from end users wanting to switch their energy service
provider has posed a major cost barrier to marketers that already face high
customer acquisition costs. As a result, a number of competitive energy
marketers have exited markets with wet signature requirements. This cost
barrier will be lowered in October when recently passed federal legislation
takes effect--sparking renewed interest in the affected markets as well as
guaranteeing that in the states scheduled to open, electronic customer
sign-ups and transactions will be legally binding.

In late June, President Bill Clinton signed into law the Electronic
Signatures in Global and National Commerce Act, which will take effect
October 1, 2000. This law overrides state regulatory rulings and laws that
have required wet signatures. However, although the news is a step forward
for marketers, the issue is not entirely cut and dried.

*  The Act confirms the legality of electronic transactions, while giving the
states broad authority on how to implement and judge requirements for these
transactions.

*  It stipulates that parties engaged in transactions must both agree to
conduct commerce electronically. This act neither mandates electronic
commerce nor allows it to be mandated if not agreed to.

*  The Act follows on an earlier act titled the Uniform Electronic
Transactions Act (UETA), which was proposed last year by the National
Conference of Commissioners on Uniform State Laws. For the states that
adopted this earlier Act, the latest Congressional legislation allows them to
adhere to the UETA. States that have not implemented the UETA will be under
the jurisdiction of the new federal legislation, which is slightly more open
to interpretation than the UETA.

What does this legislation mean at the state level? Unfortunately, this Act
did not come in time to have a significant impact on the states that have
troubled marketers (e.g., Arizona and New Jersey). Prior to the passing of
this new legislation, Arizona adopted its own version of the UETA in April.
Almost concurrent with the federal legislation, New Jersey recently approved
an Internet pilot program to allow marketers to use electronic signatures to
switch customers beginning in September. The program will be open to 350,000
customers (10 percent of the market) and will last for six months before
reevaluation by the Board of Public Utilities (BPU). However, in lieu of the
federal legislation, the BPU will vote in August on lifting the program cap.
It remains to be seen if either the pilot or new rules will be sufficient to
lure back the marketers (e.g., KeySpan, DTE, Conectiv) that pulled out of New
Jersey over the past year, citing the state's wet signature rules as one of!
 the primary reasons for their exit. Given the high use and ownship of
personal computers in the residential market, as well as customer interest in
being able to shop for suppliers over the Internet (about one third of
customers surveyed in New Jersey supported Internet sign-up), we expect this
recent ruling could jump-start marketing to the mass market this fall.

This legislation will have the most significant impact in states that have
not opened to competition or ruled on wet signatures. Although benefiting all
marketers by increasing their options, this Act benefits pure e-commerce
players the most. The cost of acquiring customers over the Internet can be
substantially less than other forms of customer acquisition such as mail
(whose costs include paper and postage) or door-to-door sales (which involves
high labor costs). Since many consumers will continue to remain without
Internet service for the midterm, another implication of the ruling is that
it will drive further customer segmentation by different types of marketers.

The implementation of the electronic signature law may signal the advent of
the Internet as a favored marketing tool over the more traditional means of
marketing to customer through paid advertising, direct mail, or door-to-door
sales. Since the Act does not require states to accept oral communication as
legally binding, many states will continue to require written or electronic
signatures. "Slamming" and "cramming" remain the concern of many state
regulators, resulting in rules that disallow oral transactions as a means of
signing customers.

The cost of acquiring customers over the Internet can be substantially less
than other forms of customer acquisition such as mail (whose costs include
paper and postage) or door-to-door sales (which involve high labor costs).
This will help divide the retail market into players serving different
customer segments. One set will continue to acquire customers that do not
have Internet access through traditional methods, whereas the other set of
retail players will acquire and conduct business over the Internet, typically
gaining higher income customers.

Though there can be little question that states will eventually have to allow
marketers to transact and acquire customers over the Internet, the
state-by-state rules governing electronic transactions are likely to continue
to be nonstandard. Although the intent of the law as it is written is to
nullify state wet signature legislation in all but a few cases, there could
be some confusion over its interpretation at the state level. One area to
watch will be how states interpret one of the law's few exceptions--that
customers must be notified in a nonelectronic format when their utility
service is being terminated. Some regulatory agencies may take that to mean
that when consumers switch away from utility service, some form of
communication must be sent to the consumer, and potentially a regulatory
commission could require marketers to bear some or all of these costs.

For more information, see the following hyperlinks:

*  Uniform Electronic Transactions Act (1999) (promoted by the National
Conference of Commissioners on Uniform State Laws):
http://www.law.upenn.edu/bll/ulc/ulc_frame.htm

*  Electronic Signatures in Global and National Commerce Act (signed into law
by President Clinton): http://thomas.loc.gov/cgi-bin/query/z?c106:S.761.ENR:
Regional Analysis--Northeast Market

The attention being given to the high-priced summer market of 2000 is masking
what could be seen as small steps forward for competition in the Northeast.
Despite headlines about retail players exiting some markets and customers
being returned to system supplies, state regulatory activity is proceeding
apace this year, and there continues to be a steady influx of new players
that are waiting for certification in states such as Massachusetts and New
Jersey. Still, this has not been a banner year for retail activity in the
Northeast (see Figure 1 and Table 2).

Regulatory Front

The region has more competitive retail power markets open than any other in
the United States. Of the nine states in the Northeast, only New Hampshire
and Vermont have not been opened to competition, although both states are
moving forward to break the political impasse there. Maine and Connecticut
have opened since January.

Although natural gas competition got off to an early start in the region, it
now lags electric access, with only New York, Pennsylvania, and New Jersey
technically open to gas competition to all customers. Over the next year, the
only state that is expected to take any significant step forward on the gas
front is Massachusetts, as the Department of Telecommunications and Energy
(DTE) is likely to rule in favor of opening the market to all customers by
the end of the year.

There has been a decrease in the number of customers in some utility
jurisdictions that are competitively buying gas and power in the Northeast
since March, particularly in Pennsylvania and New Jersey. Since March the
number of customers switched to retail marketers has dropped from 612,000 to
547,000 for gas and increased somewhat for power from 680,000 customers to
801,000. Although new competitors continue to petition for the right to serve
in a number of northeastern states, in a few of the newly opened access
states, retailers have been slow to step forward with competitive offers.
This is particularly true for offers directed to residential and small
commercial customers.

Wholesale Volatility

Market share of retail players in the Northeast has always remained highly
fragmented, and utility affiliates retain the bulk of deregulated market
share. This is poised to change over the next year, as some of the early
retail marketers experiencing difficulty under the current market conditions
pull back, leaving room for new entrants on the sidelines. In many of the
states, wholesale prices this summer dramatically exceeded the level of
competitive offers in the marketplace, exceeding $100 MWh in some cases in
New England. A few retailers caught without a secure supply of wholesale
power were forced to return their customers to the provider of last resort
service. It will be important to watch these markets in the fall to see if
customers return to these marketers and/or whether the regulators adjust the
rules to prohibit this kind of behavior and/or fix the rules that perpetuate
this discrepancy between the standard offer and market price.

Until the wave of new supply resources are built and brought online in these
markets, high and volatile prices are likely to be a characteristic of this
market. It remains to be seen if retailers will have learned the lessons from
this past summer, however, and go into the next peak period with firm supply
contracts as well as arm themselves with the marketing savvy to take
advantage of customer aversion to high and fluctuating prices with offers of
a stable price, while providing the marketer with a significant margin above
the wholesale price.

The story is similar for gas, as CERA expects strong gas prices in the
Northeast to continue for the new few years, until increased supply comes
into the market. High prices will continue, owing to tight storage
inventories and increased demand for gas for power generation, with last
winter's volatility likely to be repeated in upcoming winters.

Canada

The largest Canadian market in the Northeast is Quebec, as Ontario will be
covered as part of our Midwest regional analysis. The Quebec gas market is
the only northeastern Canadian gas or power market fully open to competition.
There is no investigation into power competition in Quebec at this time. It
is likely that Quebec will wait and see how opening of the Ontario power
market plays out next year before taking any action, just as it watched and
repeated the Ontario gas market experience.

Greenfield gas distribution companies are being built in New Brunswick and
Nova Scotia, which will be served by Sable Island gas supplies. The
regulatory focus there is to encourage hooking customers up to gas system
supplies, not necessarily to promote retail competition.

**end**

Follow URL for PDF version of this Monthly Briefing with associated tables
and graphic.

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Copyright 2000. Cambridge Energy Research Associates


You probably recall that the PX filed for $350 price caps on demand and
supply bids in the day-ahead and day-of markets back in August.
?
FERC has requested the PX file additional information with regard to:
?
1.? Any empirical data available that demonstrates that the absence of  the
requested maximum price on Demand and Supply Bids has resulted in market
distortions.
2.? Any empirical data available that demonstrates that in certain  hours the
PX prices have not been disciplined by the ISO price caps; and
3.? Any empirical data available that demonstrates that the ISO  real-time
market and the PX day-ahead and day-of markets do not operate in an
inter-related manner.
?
The request was issued on 10/5, although I just received it, and the
response is due tomorrow.
?
Dan


Please send me your schedule, sir!  Thank you!
---------------------- Forwarded by Joseph Alamo/NA/Enron on 04/09/2001 10:21
AM ---------------------------

	Joseph Alamo
	04/06/2001 11:59 AM

To: Paul Kaufman/PDX/ECT@ECT, Susan J Mara/NA/Enron, Sandra
McCubbin/NA/Enron, Mona L Petrochko/NA/Enron, Jeff Dasovich/NA/Enron
cc: Lysa Akin/PDX/ECT@ECT

Subject: Schedules Request for Week of April 9th

Please forward your *anticipated* schedules for next week to me at your
earliest convenience.

Thanks in advance for your assistance.

Joseph Alamo
Sr. Administrative Assistant
Government Affairs - The Americas
San Francisco CA


As we discussed, the following summarizes my understanding of the issues you
would like us to analyze and address in a memo (recognizing that some of
these issues cannot be definitively resolved at this point):

1.  After 10/1/00 -- Can Enron dispense with confirms completely, regardless
of whether there is a master agreement in place with the counterparty, and
instead advise counterparties of executed transactions through some type of
notice (or perhaps just through a daily transaction summary) delivered
through EOL?  If so, what (if anything) needs to be done to make this
procedure effective (e.g., amendments to electronic trading agreement)?

2.  Before 10/1 -- Can Enron dispense with confirms if the applicable master
agreement permits, or if there is no master, and provide notices through EOL
in the manner described above?  What are the risks of relying on clicks
evidencing a counterparty's transactions prior to the effectiveness of the
legislation?

3.  When dealing with a non-US counterparty, what (in general terms) is the
risk of following the procedures described above and not sending confirms?
In other words, if the counterparty is in a jurisdiction that does not
recognize electronic signatures as binding, is there a meaningful risk that
the counterparty will be able to avoid transactions (recognizing that this
question cannot be answered definitively without advice from local counsel
and that we will only be able to provide general observations)?  How does the
analysis change if the counterparty has signed a master agreement governed by
NY law?

4.  Are confirms required for physical transactions, pursuant to Article 2 of
the UCC?  If so, must they meet any specific requirements?

5.  Miscellaneous other issues -- Can tapes of phone trades suffice as
electronic signatures under the federal legislation?  Is it sufficient for
one party to have the ability to store and retrieve records of the
transaction if the other party does not?

Please let me know if your understanding of the questions to be addressed
differs from the foregoing.  Thanks.

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

This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.


Monday, April 9, 2001 6pm -10pm
The Warwick Hotel
5791 Main Street, Houtson

Many thanks!!

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


In a message dated 1/29/02 1:45:14 PM Central Standard Time, Vince.J.Kaminski@ENRON.com writes:
Explaining Storage Economics

 - StorageEconomics.doc
Return-Path: <Vince.J.Kaminski@enron.com>
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Thread-Topic: NESA's "Explaining Storage Economics" Brown Bag
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From: "Kaminski, Vince J" <Vince.J.Kaminski@ENRON.com>
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X-OriginalArrivalTime: 29 Jan 2002 19:41:47.0980 (UTC) FILETIME=[FD6898C0:01C1A8FC]
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>  -----Original Message-----
> From:     Lana Moore <Lana.Moore@nesanet.org>@ENRON
> Sent: Tuesday, January 29, 2002 1:26 PM
> Cc:   Staff
> Subject:  NESA's "Explaining Storage Economics" Brown Bag
>
> January 29, 2002
>
> NESA MEMBERS:
>
> Attached is our latest and greatest brown bag being held February 20, 2002.
> Everyone that registers for this event by February 8, 2002, will be
> automatically put into a drawing for Houston Livestock Show and Rodeo
> tickets.  YEE-HAW!
>
> Hope to see you there!
>
> Lana Moore
> Director of Education
> NESA
> (713) 856-6525
>
>  <<Storage Economics.doc>>
>
>
>
>  - Storage Economics.doc> >  <<Storage Economics.doc>>

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
**********************************************************************

 - Storage Economics.doc


Hi  John and Vince   I had an opportunity to review the slide  presentation
of  EP   and  here is my
assessment.  Bottom  line:   Too  robust by 2005  on merchant plants  being
built; up and running  baseload  and
too optimistic  about offshore   gas volume   growth by 2005  as well.

WESTERN MARKETS
EP forecast  is  way too high  by  2005 by their assuming 1.4 BCFD of new
power generation gas  demand
could be in place in the  west  in such a short  time..This means ..they may
be  forgetting to consider  the tough
 NIMBY   siting  hurdles  that stalled  all  but  550 MW  of the  current
10,000 mw of planned  capacity  in the  West.....EP is  assuming not  only
do  80 percent of  these planned plants  get  built  but then they l run
baseload...which is
very unlikely. Most  shall be   peaking  or intermediate load in the start
years  which trims that gas use by 50 to 85 percent.
WEFA  and   ENE Corp. thinks  the  area gas use growth will be   more like
3.2/  2.9 BCFD  BY 2010 --  but 80 percent of  this  gas  use  happening
late -- not early -- in the time period out  to   2010.  I foresee  the EP
scenario as unrealistic given NIMBY and enviro siting limitations short term
in the West.

WEST  SO CENTRAL  TX/LA

EP  sees the  area  at   2.7 bcfd  by 2005;   way too high  compared  to
WEFA  and  ENE   at   -400 mmcfd  and  +500 mmcfd, respectively BY 2010
and  even  prematurely  high by PIRA's  robust   standard  of   3.5 bcfd  by
2010 .
EP  like PIRA assumes   the  gas thermal demand  stays on even  as merchant
plants  get  built;  ENE and
WEFA  assume  merchant  kwhs and lower variable costs and better heat  rates
shut in the thermals or  cause them to be  repowered  as combined cycles.
Given where EP's  pipes  are located in the  West  and Texas  and up the
Northeast  this  demand scenario  fits  their wants...so I can see why they
like  this scenario  but   it assumes power generators  will not  act
economically rationally.

NORTHEAST
EP sees  2.7 bcfd  by 2005  vs WEFA, PIRA and  ENE   seeing   2.3/2.5/2..6
bcfd  by 2010 .Way premature  for this area to  see such growth  as  385
mmcfd  annually.  They  are real robust on  offshore  gas  being there  to
fill this need too.

GAS  SUPPLY
Offshore  supply, which  has  fallen   2.4    bcfd   since    1995   is
expected  to  grow in EP's  forecast  by  3.6  bcfd  by 2005...extremely
unlikely  given the slow  start  Shell  and  Texaco and Exxon offshore   has
been  showing  us so far.  I was  burned  in  my  supply analysis  work in
1999  by Shell's  forecasts of their   adding  alone   2  bcfd  to  offshore
deliverability  by  2000  which never  happened --  it fell  500mmcfd
instead !!  so  I do not   give  a lot of  hope right now   for 3.6 bcfd
incremental  gas  by 2005  per  EP.  Cambridge  Energy  says  if all goes
well  the Offshore  overall  will be up  1.1- 1.7  bcfd  by  2005..way less
than  EP  is showing.


---------------------- Forwarded by Rod Hayslett/FGT/Enron on 12/04/2000
08:03 AM ---------------------------

Maggie Schroeder
11/30/2000 02:32 PM
To: Rod Hayslett/FGT/Enron@Enron
cc:

Subject: lights.exe


----- Forwarded by Sara Shackleton/HOU/ECT on 06/12/2000 09:58 AM -----

	Donna Lowry
	06/09/2000 04:45 PM

		 To: Sara Shackleton/HOU/ECT@ECT, Sheila Glover/HOU/ECT@ECT
		 cc:
		 Subject: Genesys : Sale of Shares : RBI approvall

fyi
---------------------- Forwarded by Donna Lowry/HOU/ECT on 06/09/2000 04:44
PM ---------------------------

Lauren Hagerty@ENRON_DEVELOPMENT
06/09/2000 01:56 PM
To: Donna Lowry@ECT
cc:
Subject: Genesys : Sale of Shares : RBI approvall

FYI.  It would seem we still have a lot of ground to cover on selling Genesys.
---------------------- Forwarded by Lauren Hagerty/ENRON_DEVELOPMENT on
06/09/2000 01:55 PM ---------------------------

Chandran Bhaskar
06/09/2000 12:15 AM
To: Rahul Basu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Sandeep Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raj
Thapar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gopalakrishnan
Subramaniam/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Veena
Srinivasan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lauren
Hagerty/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Genesys : Sale of Shares : RBI approvall

Dear Rahul,

Your mail on the above subject refers.

As regards to the approvals to be followed in sale of the Genesys shares by
Enron Distribution Ventures MHC Ltd., Mauritius, i list below the following:

(A) Approvals required:
Per section 10 B (1) the FEMA Regulations effective 1 June 2000, transfer by
way of sale by a person resident outside India of the shares / debentures
held by him to person resident in India will require prior permission of RBI.
Veena, your activity chart shows that Form TS 1 is to be filed after the sale
is effected, money received and at the time of remittance of sale proceeds.
Since, the Act prescribes prior approval, we should sell only after receipt
of RBI approval and not before.
The requisite form to be filed for seeking approval is Form TS1.
If we are effecting the sale through a private arrangement , the application
should be supported with the average quotation of the share price ( average
of daily high and low) for one week proceeding the date of application, duly
certified by a Chartered Accountant. If the sale proposed to be effected on
the floor of the exchange to the general public at the prevailing market
price, the Chartered Accountant's certification is not required. Since, we
intend selling at the floor, this certification is not required.

(B) Thinly Traded:
I refer to Veena's query on whether Genesys shares are thinly traded. Per
section 10 - Explanation i) the share will be treated as thinly traded if the
annualised trading turnover in that share, on a main stock exchanges in
India, during the six  calendar months preceding the month in which the
application is made, is less than 2%( by number of shares) of the listed
stock.
Though we can take a view that Genesys shares are listed for trading only
from 5 June 2000, it is to be noted that the new shares issued to (a) the
erstwhile Genesys shareholders are issued as a result of the scheme of
amalgamation approved by the High Court, Mumbai & (b)  the applicants of the
private placement ( incl. Enron) and the new amalgamated company, Genesys
International Corporation Limited, whose previous name was Aeke Trading and
Investments Limited, was a listed Company at the Mumbai Stock Exchange.
Hence, it is advisable to check whether the shares of AEKE were thinly traded
or not. FYI, the Paid - Up Equity of AEKE prior to the Amalgamation was
2,40,000 Equity Shares of Rs. 10/- each aggregating Rs. 24,00,000/-. We can
apply the test as explained above on the AEKE shares prior to Genesys
amalgamation just to satisfy ourselves that it was not thinly traded.
It is better to check this provision.

(C) Formalities for remittance:
Per section 11of the FEMA Regulations, remittance of sale proceeds shall be
made by a authorised dealer upon:
satisfying himself that the security was held by the seller on repatriation
basis ( we need to submit the Foreign Collaboration Approval Letter No. 3/9
SIA/NFC 99 NRI to the AD)
submission of the contract note of the Broker effecting the sale and
submission of a No Objection Certificate/ tax clearance certificate.

(D) Income Tax - NoC / TCC:
I understand from Veena that there is a current thinking that through a
Chartered Accountants Certificate stating the double taxation treaty, we need
not obtain the NoC of the IT. In my view, since the regulation stipulates an
NoC / TCC from the IT Department, i doubt whether it is doable without a BoC
/ TCC of the IT.
In the past, this was followed and with an Undertaking from the Company,
supported with a Chartered Accountants Certificate,confirming there are no
tax implications in the underlying transaction, one could remit the funds
without a NoC/TCC from IT. But, given a very specific statement u/s 11 of the
FEMA Regulations and the same being introduced only from 1 June and hasn't
been time tested, i doubt whether the Authorised Dealer will accept our view
and effect fund transfer with an Undertaking and CA Certification.
In my view, NoC would be a pre requisite.

(E) Bank Account:
Assuming that the NoC is required, there will be a timing difference between
we receive the sale proceeds and remitting the money to Mauritius after
obtaining the NoC from IT. It is certainly not advisable to hold the
instrument without encashing it. Hence, opening of a Bank Account in India to
encash the instrument  is warranted. I refer to Mike's mail on allowing the
Broker to hold the funds in a trust account for EDVMHC. In my view, instead
of the Broker holding the same, the AD himself can hold it on trust for
EDVMHC. But this needs to checked and properly documented with the Bank (
Authorised Dealer) and as well at EDVMHC. From Due Diligence and Compliance
point of view, i would suggest to take the route of opening of an rupee Bank
Account than the trust route.
Since it is not a demated shares, opening of an custodial account is not
required. This needs to be checked with the authorised dealer.

(F) Application to RBI / TS 1:
I suggest that while making the RBI Application under TS 1, it is advisable
to state and seek their concurrence or keep them informed as to point E
above. We could mention in our application to RBI and seek approval as to (a)
opening of an rupee account or (b) authorising the AD to hold the same in an
trust account for EDVMHC. RBI while according its approval, will look in to
the transaction and accord approval for this as well.
May be, before filing the application with RBI, we could meet with the
concerned official in Exchange Control Department and walk him through with
the transaction so that the approval is obtained at the earliest.

(G) Original Funds:
I understand that while making this investment, the funds have not come in
from EDVMHC, Mauritius or it has come from a Company from Caymon Islands. Tax
need to confirm whether the money received from Cayco ( though on behalf of
an Mauritius Company) would qualify for tax benefits.

(H) Confirmation by Genesys on non Lock-in:
There are no documents available like the Board Resolution while alloting the
Shares to EDVMHC or the application to Stock Exchange which would specify
distinctive numbers of the Lock-in Shares nor it is stated in the Information
Memorandum as whether shares offered under this IM are freely tradable.
Though the SEBI Guidelines are clear that if the shares do not form part of
the Promoters Quoto, they are freely tradable, it is advised that we take a
certificate from Genesys on this. I have spoken this with Rajesh who
confirmed that such a certificate from Genesys can be otained without any
difficulty.

Please feel free and do call me for any further assistance from my end.

Regards

Bhaskar
---------------------- Forwarded by Chandran Bhaskar/ENRON_DEVELOPMENT on
06/09/2000 08:01 AM ---------------------------

Sandeep Katwala
06/07/2000 12:47 PM
To: Chandran Bhaskar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Genesys : Sale of Shares : RBI approval

input into Rahul please.
---------------------- Forwarded by Sandeep Katwala/ENRON_DEVELOPMENT on
06/07/2000 12:36 PM ---------------------------

Rahul Basu
06/07/2000 12:37 PM
To: Gopalakrishnan Subramaniam/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rajesh
Agarwal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rajesh
Shekhar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep
Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raj
Thapar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Genesys : Sale of Shares : RBI approval

Seems to me from a read of the regulations that we are required

Clause 10 B (1) to get RBI approval for the transfer on a TS1 form. Please
note that the TS1 form requires a CA certificate
If we sell on an exchange through a broker, clause 10 B (2) (a) (i) will
apply. Since the transfer takes place when its recorded on the register held
by the company, there is time from when the sale order is given to the
broker.
Clause 11 (2) provides the conditions by which the AD will repatriate the
money to Mauritius. Please note the requirement for an IT clearance in clause
11 (2) (c). Also, it seems from Clause 11 (2) (b) that if we sell through the
exchange, then approval of RBI under the TS1 is not required for the
repatriation.

Rahul


Welcome to Enron Center South. As you have probably already noticed, things look a little different here. We wanted to orientate you to your new environment and inform you about the future technology coming on-line in the coming weeks.

Occupancy Guidebook To Enron Center South
You will find this handy guide on your desk; it contains information concerning the enhanced printer environment, the new easy access keyboards and telephony procedures.

NEC Monitors
The NEC monitors have an internal anti-glare screen to help reduce eye strain and eliminate the need to install an additional screen cover.  Additionally, an integrated speaker has been installed on one monitor for each desk.

Turret Users
An "Alliance MX turret quick reference guide" has been placed on your desk; this includes important information about the new features such as "Caller ID" and "Voicemail Indication".

Increased Information Access
There are many NEC 50" Plasma screens installed on the 5th and 6th floors.  While many of these will be displaying information designed for the specific unit, others will be displaying various television channels.  The audio to these television channels can be accessed via any of your telephony equipment.  Here's how:

Ten audio channels have been set up for access from your either your Avaya telephone, Stentophon, or IPC Turret.  The channels have been defined on Page 15 of your Turret.  To access the audio from either your Avaya or Stentophon, simply dial the extensions shown in the table below:

Channel	Avaya	Stentophon
Weather Channel	12401	801
CNN Headlines News	12402	802
CNN Financial News	12403	803
CNBC	12404	804
MSNBC	12405	805
Bloomberg	12406	806
Financial News Network	12407	807
CNN	12408	808
Fox Sports	12409	809
ESPN1	12410	810

Wireless Telephony
You may notice the cellular phone coverage is not consistent across the floor, and some areas have virtually no coverage at all.  We are implementing a multi-network "in-building" system to provide consistent high quality service for the campus, keeping you in touch while you are on the move.

Wireless LAN
The infrastructure to support Wireless LAN technology is in place and is being tested. We will be implementing multi level encryption and security to keep our intellectual property safe from eavesdroppers or hackers.

Amtel Replacement
As a move to provide a more flexible "Plug n Play" environment and to help with the reduced desk footprint, we have replaced the Amtel message boxes with Microsoft Exchange Instant Messaging. The Global Messaging Team is testing additional software products to provide some of the features not available with Exchange Instant Messaging; these include one-touch response keys, external LED display, and printing.  Updates will be provided as they become available.

Keeping an Open forum
We will keep you informed of the changes and developments as the migration to the building continues, please feel free to respond with any comments, queries or suggestions to  mailto:Enron.Center.South.Technology@enron.com


Thanks

 -----Original Message-----
From: 	Oquinn, Kari
Sent:	Wednesday, January 02, 2002 1:28 PM
To:	Kitchen, Louise
Subject:	RE: Netco list

Yes, Barry Pearce is on the list.  I'll make the alterations indicated below.

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Wednesday, January 02, 2002 1:23 PM
To:	Oquinn, Kari
Subject:	FW: Netco list

Is Barry Pearce in the list?

See below for alterations

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Monday, December 31, 2001 12:57 PM
To:	Slone, Jeanie
Subject:	Netco list

Eric Moon resigned
Haedicke	Back in
Elbertson	Back in

Louise Kitchen
Chief Operating Officer
Enron Americas
Tel:  713 853 3488
Fax: 713 646 2308


Thank you very much for taking the time to provide this feedback. Feedback,
both positive and negative, is critical to improving performance. Rick Buy


Cheryl:

Goldman is one of the brokers "messed up" in Lotus Notes.  I had given you
the files some time ago with my comments.  I think it would make sense for us
to sort through Goldman for all affiliated companies.  I don't see an
agreement in Lotus Notes for ECT Inv. and Goldman Int'l.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 02/23/2001 08:37 AM -----

	Theresa T Brogan
	02/22/2001 06:20 PM

		 To: Sara Shackleton/HOU/ECT@ECT, Cheryl Nelson/NA/Enron@Enron
		 cc: Cassandra Schultz/NA/Enron@Enron, John Greene/LON/ECT@ECT, Sheila
Glover/HOU/ECT@ECT
		 Subject: Goldman Sachs International - Terms of Business Letter

Sara/Cheryl,
 ECT Investments Inc has received a faxed document from Goldman Sachs
International  regarding terms of business for executing equity transactions
through the London office.  This document is not intended for the purposes of
opening up a new executing broker accouunt with Goldman Sachs International.
ECT Investments Inc currently has an existing executing broker agreement with
Goldman Sachs & Co which should cover trades done in Houston and London since
we are trading under the same legal entity.  The Terms of Business Letter
sets forths terms and conditions that would apply to transactions executed by
ECT Investments in London which is governed under the SFA rules and
regulations.
 I will forward a copy of the document to Cheryl.  Goldman Sachs
International is waiting for us to review and sign.  If you have additional
questions and concerns, I can be reached at extension 31439.

Thanks,
Theresa


Christmas pics?  Didn't you get the Christmas card with pics?  We shouldn't
have outsourced the mail room function--quality control has gone to hell.
Come to Omaha and hang out for a couple of days and I'll give you some pics
in person!  DF

Paul Gertsen <paulg@stpaul.lib.mn.us> on 02/16/2000 01:42:20 PM
To: Drew.Fossum@enron.com
cc:

Subject: Re: Huron

On Wed, 16 Feb 2000 Drew.Fossum@enron.com wrote:

> Just got notice of our 20 year reunion.  I'd rather be slathered with jam
> and staked to an anthill.

Which I have done - and is not bad, depending on who is doing the
staking...

> The clincher for me on my decision to skip it was the list of people
> they have not been able to locate.  What would a reunion be without
> Tim Flynn, Ronnie Marvel (of the comic book Marvels?) and Jeff
> Wittenhagen???

Seems to me they were looking for Flynn 10 years ago, too. I remember at
that time, Rod Merriam told me something about how the "FBI" was looking
for Flynn, at least according to his mom. I DO remember that he was filing
for bankruptcy in the mid-80's. Then he dissapeared. (Used to live in
Crystal, or New Hope or somewhere.)

> If you didn't get it, give me a fax number and I'll send it to you.
> DF

Oh,....I got it. And a professional job it was, too. Notice that there is
no "send to" address. Only phone #'s.

Yeah- like I'm gonna call Jeff Hogue.

pkg

 Hey-  Where are the Christmas pics of "da goils"?


Notice No.:  02-18
January 10, 2002

TO:		ALL COMEX DIVISION MEMBERS

FROM:	M. Dawn Lowe
		Vice President and Assistant Corporate Secretary

SUBJECT:	Delisting the FTSE Eurotop 100
 Futures Contract

The COMEX Governors Committee and the NYMEX Board of Directors have voted to
delist the FTSE Eurotop 100
 Contract.

The FTSE Eurotop 100
 Contract Terms and Conditions affect a "Special
Matter" under the terms of the COMEX By-Laws.  Accordingly, COMEX Division
Members have ten (10) days to submit a petition signed by owners of at least
155 COMEX Division Memberships requesting a vote for the COMEX Division
Members to disapprove the amendments, pursuant to the procedures set forth
under COMEX By-Law 205(D).  Following this 10-day period, if a petition is
not received, or if the amendment is not disapproved, the Proposed Contract
Terms and Conditions and the Rule Amendments will be submitted to the
Commodity Futures Trading Commission (CFTC).

If you have any questions, please contact Jay Gottlieb at 212-299-2607.


Thank you for shopping at Macys.WeddingChannel.com.

This is to confirm that order# W1021382-014043335, shipment# 001,
was shipped on November 20, 2000.

It was shipped to the following address:
MS. LISA KOOB
5106 JASON STREET
HOUSTON, TX  77096

The following items were shipped:
  PRODUCT DESCRIPTION           QTY
REGGAE                            1

The tracking number(s) listed below will allow you to track the
progress of your shipment by accessing the USPS website at
http://www.usps.com/cgi-bin/cttgate/ontrack.cgi
Tracking Number(s): 01622888352002210981

Thank you again,

Macys.WeddingChannel.com Customer Service
http://www.Macys.WeddingChannel.com
CustomerService@MacysWeddingChannel.com
1-888-989-9333


Just want to make sure volumes are allocated to two different tickets correctly for March:

Sitara - 572910 - gets 50,000 MMBtu TOTAL for the month .... after 50,000 on this ticket, all remaining volumes go to ...

Sitara 643510 - the swing ticket

THANKS

Lee