Please see the following articles:

GOVERNOR DAVIS SENDS LETTER TO SECRETARY OF ENERGY ABRAHAM
2/26/2001, www.governor.ca.gov

Pacific Gas & Electric Co. Makes Partial Payments to Suppliers
3/1/2001, bloomberg.net

Governor Davis Comes to Wall Street
3/1/2001,Merrill Lynch report

Energy Deal May Take a Month, Davis Tells Analysts

3/1/2001, LA Times

PUC chief says summer outages not inevitable
3/1/2001, Sac Bee

Dan Walters: Why has probe stopped short?
3/1/2001, Sac Bee

					PG&E's gas rates to ease in March
3/1/2001, Sac Bee

Davis optimistic about fed approval for power line deal
2/28/2001, San Diego Union Tribune

Partial Power Payments / Governor asks that generators take less
3/1/2001 SF Chronicle

PG&E May Be Ready To Deal / Lawyers to advise it on selling lines
3/1/2001 SF Chronicle

Generating Ideas / Deregulation, done right this time -- not state control --
is the answer to Calfiornia's energy woes
3/1/2001, SF Chronicle (editorial)
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GOVERNOR GRAY DAVIS SENDS LETTER TO SECRETARY OF ENERGY ABRAHAM
2/28/1 15:25 (New York)

(The Following is a reproduction of a press release from The State of
California. This document was obtained from www.governor.ca.gov.)

GOVERNOR DAVIS SENDS LETTER TO SECRETARY OF ENERGY ABRAHAM

February 26, 2001

The Honorable Spencer Abraham
Secretary, U.S. Department of Energy
1000 Independence Avenue, SW
Washington, D.C. 20585

Re: Update on California's Energy Efforts

Dear Secretary Abraham:

The purpose of this letter is to update you on California's significant energy
conservation and efficiency efforts, as well as our generation development
initiatives.

Energy Conservation and Efficiency

Estimates by the California Energy Commission indicate that the State as a
whole
used approximately 2,000 fewer megawatts in January 2001 than might have been
expected, absent conservation and efficiency efforts. As you know, since
January, we have implemented the following major initiatives:

Directing more than $800 million for programs to improve conservation and
efficiency.

Implementing aggressive conservation measures in state buildings, resulting in
about 200 MW of savings during energy emergencies.

Developing a comprehensive outreach and education campaign to reach
businesses,
organizations, and millions of California consumers.

Partnering with other governmental entities, including school districts to
ensure that all 475 cities, 58 counties, and 8,300 schools in California
reduce
consumption.

Adopting the strongest energy efficiency standards in the world for
residential
and non-residential buildings and appliances.

Incorporating energy efficient, sustainable building designs in new state
building projects.

Issuing 13 Governor's Executive Orders on energy.

Additional State Conservation Outreach Efforts

The State Department of Consumer Affairs has launched the first stage of a $20
million paid media campaign to encourage California's consumers and businesses
to conserve energy and become more energy efficient. The first three
commercials
have run in all 12 major metropolitan markets, the most recent of which
encourages consumers to turn down their thermostats.
We are coordinating our conservation efforts with many businesses and business
associations. For example, Safeway agreed to print an energy conservation
message on its supermarket grocery bags. In addition, it will place an energy
conservation message in its weekly advertisement insert, which reaches 11
million households in every major California newspaper each week. Safeway also
has offered to donate 10 to 15 seconds on its advertising buys for the state
energy conservation message. In addition, McDonald's is placing four million
tray liners with the energy conservation message in its 1,100 restaurants
throughout the State.

The Department of Motor Vehicles (DMV) puts conservation and efficiency
messages
on Vehicle Registration and Driver's License Application and Renewal
envelopes.
DMV envelopes are expected to the reach 19.6 million vehicle owners and eight
million drivers who apply for or renew licenses this year.
The approaching tax season has enabled the Franchise Tax Board (FTB) to reach
nearly 300,000 Californians a week with the energy message. This past week
alone, FTB included an energy insert in nearly 24,000 Return Information
Notices, reached 71,000 visitors to the FTB home page, which features the
energy
conservation message, and played a recorded energy conservation message for
nearly 193,000 taxpayers who used the FTB call center.

The California Lottery Commission is placing conservation messages on certain
game tickets and on 7,000 television monitors in stores throughout the State.
The Department of Consumer Affairs, the Franchise Tax Board, California Energy
Commission, and other agencies play energy conservation information during on-
hold telephone messages.

The Department of Consumer Affairs reached an estimated 2.5 million
Californians
with the energy conservation and efficiency message during Consumer Protection
Week through public appearances, media interviews, handouts, and letters.

The Governor's Office of Planning and Research has worked with your Department
of Energy to get the conservation message to all federal employees and
facilities in California. These communications will reach as many as 265,000
civilian employees and 100,000 military personnel in California. Distribution
is
provided by the Department of Energy's Seattle Regional Office to key facility
managers and other federal offices throughout the state.

Every state agency website features the state's "Flex Your Power" logo and
energy conservation message. For example, the Energy Commission's home page
features in-depth conservation and efficiency information and receives 3
million
hits a month. The Energy Commission also has established an 800 number and web
form to handle consumer conservation ideas and inventions. This allows people
to
make suggestions directly to government.

Articles on energy conservation have been placed in trade publications and
newsletters, such as the Employment Development Department's California
Employer, which reached some 900,000 employers, and the CalPERS PERSpectives,
which reached one million subscribers.

The Technology, Trade, and Commerce Agency e-mailed and broadcast faxed an
energy conservation letter to approximately 97,000 businesses, associations,
and
partners.

The California Science Center, a state museum in Los Angeles that has 1.3
million visitors a year, including 800,000 children, is providing conservation
tips in English and Spanish to all visitors.

Two weeks ago, I issued an Executive Order that requires retail
establishments,
particularly shopping malls, gas stations, auto dealerships, and other
commercial properties, to reduce unnecessary outdoor lighting during non-
business hours. The Executive Order is directed at the large banks of
decorative
and marketing illumination that often stay on all night and do not serve a
public safety function.

Quantifying Impact of Outreach Efforts

The State and Consumer Services Agency is working with the Electricity
Oversight
Board, the California Energy Commission, the Department of General Services,
and
cabinet agencies to attempt to quantify the impact of our outreach efforts on
energy efficiency and conservation. Preliminary estimates for January 2001
indicate that the State experienced an overall reduction of approximately
2,000
megawatts from what the State's overall anticipated load should have been,
absent recent conservation and efficiency efforts. This estimate measured
overall impact by comparing monthly peak load data against data from the same
month one year earlier, while adjusting for projected load growth from last
year
to this year, significant changes in weather conditions, and other factors.

In addition, we are attempting to measure the overall impact of state agency
conservation efforts by gathering monthly utility bills of state buildings and
facilities and comparing them to the same month in 2000. Some preliminary
highlights include:

The DGS Telecommunications headquarters at 601 Sequoia Pacific Blvd.
(Sacramento) consumed 20.5% less kilowatt hours of electricity in January 2001
when compared with data from January 2000.

The Office of State Publishing facility at 344 N. 7th Street (Sacramento)
consumed 26.6% less kilowatt hours of electricity in January 2001 when
compared
with data from January 2000.

Caltrans indicated that the electricity bill for its Sacramento headquarters
went down 23.8% last month, compared with January 2000.
The Department of Housing and Community Development reports a 40.5% reduction
in
energy usage at its Sacramento headquarters building.

Generation Development Initiatives

Objective: 5,000 MW on line by July, and 20,000 MW by 2004.

Since August 2000, I have issued a series of Executive Orders and signed
urgency
legislation that created:

Fast-track licensing procedures for environmentally-preferred facilities; some
plants will be licensed in as little as 21 days

A State Air Emissions offset bank so fast track plants can obtain air permits
up
front.

Ability to increase power production at existing facilities and to allow
construction of plants 24/7.

ISO outage scheduling tools so shut downs occur while system reliability is
maintained

Intergovernmental "Green Team" strike force to cut red tape at federal, state
and local levels.

Performance awards for plants that accelerate construction and come on-line
before July, 2001.

I have requested that President Bush direct federal agencies to expedite
federal
permit reviews for power projects; President Bush granted this request.

I have written Chairman Hebert to urge the FERC to further extend the waiver
of
certain operating and efficiency restrictions on qualifying facilities from
April 30, 2001 until October 15, 2001; California awaits the Chairman's
response.

I anticipate that by July, 2001, these measures will result in the addition of
1,320 MW from three large power plants, a 320 MW plant licensed under
expedited
permitting procedure in December, 2000, up to 2,400 MW of "peaking" power
projects, up to 1,266 MW by restarting or expanding production at existing
thermal and renewable power projects - some of this production depends upon
the
FERC's response to my request, and 145 MW of wind, biomass and other renewable
energy projects receiving California financial incentives

California remains committed to achieving a significant reduction in energy
consumption and to an aggressive program to develop generation for this summer
and beyond.

Best regards,

Gray Davis
Governor

(bh) PN
-0- (CRL) Feb/28/2001 20:25 GMT
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Pacific Gas & Electric Co. Makes Partial Payments to Suppliers
3/1/1 9:32 (New York)

Pacific Gas & Electric Co. Makes Partial Payments to Suppliers

     (For more on the California power crisis, see {EXTRA <GO>})

     New York, March 1 (Bloomberg) -- Pacific Gas & Electric Co.,
California's largest investor-owned utility, will make partial
payments of $228 million instead of $1.442 billion to its
suppliers, a filing with the Securities and Exchange Commission
said.
     Kent Harvey, a senior vice president and chief financial
officer at the utility, told investors in a Feb. 1 conference call
that the utility was paying power suppliers 15 percent of invoices
received. The company would rather ``make partial payments than no
payments at all, to keep electricity flowing to customers,'' he
said.
     The cash-strapped utility, which has defaulted on more than
$731 million of commercial paper since Jan. 17, is conserving
money in order to stave off filing for bankruptcy protection.
     Pacific Gas & Electric paid soaring wholesale energy prices
since last summer, which California regulators prohibited it from
passing on to customers. The utility accumulated $6.6 billion of
debt through the end of 2000 for such power purchases. The filing
didn't update the undercollections through January.
     Edison International's Southern California Edison, the
state's No. 2 utility, has said its unreimbursed costs were $5.47
billion through January 31. Sempra Energy's totaled $605 million.

                        Some Power Payments

     Pacific Gas and Electric's filing said it is making partial
payments for January power deliveries from certain suppliers,
known as qualifying facilities, and for December deliveries from
the California Independent System Operator, which oversees about
75 percent of the state's transmission grid.
     As of Jan. 16, the utility had drawn $938 million of a $1
billion credit line. On Jan. 17, banks refused to lend the utility
additional money causing it to default on maturing commercial
paper. The utility and its parent, PG&E Corp., have been shut out
of the commercial paper markets and unable to raise money from
sources other than banks since late December.
     Pacific Gas & Electric has an additional $142 million of
commercial paper maturing by the end of this month, according to
an audit ordered by the California Public Utilities Commission. It
recently had $1 billion of cash reserves, based on a Feb. 14 SEC
filing.
     California Governor Gray Davis has proposed buying the
utilities' transmission systems as part of a broader plan,
including buying power on their behalf, to help PG&E and Edison
avoid bankruptcy.

--Liz Goldenberg in the New York newsroom at (212) 893-3940 or at
egoldenberg2@bloomberg.net and Dennis Walters in Ojai, California,
through the New York newsroom (212) 318-2300 /jm

Story illustration: For more information on electricity markets
and prices, type {VOLT <GO>}.
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Governor Davis Comes to Wall Street
3/1/1 9:47 (New York)

                      M E R R I L L  L Y N C H        Research Bulletin
  Fixed Income Research                               Reference Number
10906001
  United States                                       Mar/01/2001 09:47
  Leo J. Kelser                                       (1) 212 449-7803

Highlights of This Issue

Governor Gray Davis of California met with a group of sell-side and rating
agency analysts in New York yesterday.  The Governor outlined his plan for
restoring the utilities to financial viability so that they can meet their
obligations.  Below we summarize a few highlights from the meeting.

Trying to Fit Solution Within Existing Rate Structure

The Governor talked about the need to find a solution to the utilities'
problems within the context of their existing rate structures. He indicated
that the temporary 9% rate hike from January 2000 would be made permanent and
that a 10% rate reduction that went into effect in January 1998 would be
reversed in March 2002.

Status of Negotiations with PG&E

As we noted in a February 26(**th) comment, the Governor has reached an
agreement in principle with Southern California Edison (EIX: B3/CC) to address
that utility's past under-collections.  He hopes to also have an agreement
with
PG&E within the next 30 days, suggesting that progress was made in particular
in the last 2-3 days.  However, the Governor acknowledged that reaching an
agreement with PG&E was more difficult due to its larger under-collected
balance and lower rates compared with SCE.

Some Generators Agree to Haircut

The Governor indicated that a couple of unnamed generators have voluntarily
agreed to accept less than 100 cents on the dollar for their past due
receivables. When pressed about which parties they've had constructive
discussions with, he identified Williams (WMB: Baa2/BBB-), Enron (ENE:
Baa1/BBB+) and Dynegy (DYN: Baa2/BBB+).  We note that most of the generators
and marketers with exposure to California have established reserves against
possible losses.  Importantly, the Governor said that he hoped that the banks
and bondholders would not be asked to take a haircut.

Prospects for Legislation and Possibility of Ballot Initiative

The Governor said he is quite confident that he can reach an agreement with
the
utilities that the legislature can support.  Although he admitted that he
couldn't prevent someone from proposing a ballot initiative, the governor said
that in the end, the acid test with the public is how it affects their pocket
books.  Thus, if there is ultimately a ballot initiative, Governor Davis is
optimistic that the public will be supportive of his plan given the limited
impact on electric rates.

Status of Defaulted Utility Debt

As we have commented in the past, it appears unlikely that the resulting
legislation will pass with the required 2/3majority to go into effect
immediately.  Accordingly, there will be a several month lag before the
utilities receive any cash.  In response to a question, it appears that the
state will not step in to help the utilities pay off any maturing or defaulted
commercial paper.  But the Governor and his advisers hope that legislation
will
provide enough certainty so that the companies can get bridge financing.
Essentially, it appears the Governor is leaving it up to the utilities to find
the money from their banks.

Governor's Strategy to Keep the Lights On

The Governor stated that a key reason that deregulation failed in California
was that no new power plants were built in the state for over twelve years.
In
the intervening time, demand caught up with supply.  In response, he has
proposed various conservation initiatives and is trying to expedite the
construction of new power plants.  He set a goal of having 20,000 megawatts
(mws) of new supply on line by 2004.

In addition, the governor highlighted the need for additional investment in
the
transmission infrastructure.  In particular, he cited the need to expand the
capacity to import more power from Arizona as well to improve the ability to
move power from south to north within the state. He suggested that part of the
rationale for the state taking over the utilities' transmission grids was to
ensure that the additional investment takes place.  He also suggested that the
state would lease the transmission lines back to the utilities to allow them
to
continue to operate them.

In the meantime, the focus is to move away from California's over-reliance on
the spot market.  In that vein, Calpine (CPN: Ba1/BB+) yesterday announced the
signing of two long-term contracts with the state's Department of Water
Resources (DWR).  One of those contracts was to sell up to 1,000 mws over a
ten-
year term.  The other was to provide up to 495 mw of peaking capacity under a
20-year contract.  Earlier in February, CPN had reached agreement with the DWR
on a separate 10-year contract for an additional 1,000 mws.

(EIX, WMB)  MLPF&S was a manager of the most recent public offering of
securities of this company within the last three years.
Copyright 2001 Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S).
All rights reserved. Any unauthorized use or disclosure is prohibited. This
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has been approved for publication in the United Kingdom by Merrill Lynch,
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(ACN
006 276 795), a licensed securities dealer under the Australian Corporations
Law; is distributed in Hong Kong by Merrill Lynch (Asia Pacific) Ltd, which is
regulated by the Hong Kong SFC; and is distributed in Singapore by Merrill
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Ltd, which are regulated by the Monetary Authority of Singapore.  The
information herein was obtained from various sources; we do not guarantee its
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the currency of the underlying security, effectively assume currency risk.
 Provider ID: 10906001
-0- Mar/01/2001 14:47 GM
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Thursday, March 1, 2001

Energy Deal May Take a Month, Davis Tells Analysts

Power: Wall Street experts appear cool to governor, who tries to convince
them he is solving the state's electricity crisis.
California members of Congress vow to keep seeking wholesale price caps.

By DAN MORAIN and RICHARD SIMON, Times Staff Writers

?????As a hopeful Gov. Gray Davis extended his East Coast barnstorming tour
before skeptical Wall Street utility analysts Wednesday,
 members of California's congressional delegation vowed to continue their
campaign for caps on wholesale electricity prices after a tense
 standoff with a top federal regulator.
?????Davis completed his five-day trip by raising about $200,000 for his 2002
reelection campaign at private events in Manhattan, and then
 conferring with analysts in an effort to persuade them that he is solving
California's energy crisis.
?????Although Davis delivered some good news--that some electricity suppliers
would accept less than the full payments owed to them by the
 state's debt-ridden utilities--he acknowledged that it probably would take
more than a month to complete his plan to enable the utilities to stave
 off bankruptcy.
?????"Did they leave without doubt? I don't know that is ever the case,"
Davis said of his select audience of 35 analysts. "But I do believe they left
thinking I'm sincere, I'm making progress, and am confident that I will fix
it."

?????Reaction Varies
?????Analysts who attended the hourlong meeting came away saying Davis
offered little that they didn't already know. Some questioned why he excluded
many analysts who closely track utility bond debt, given that Southern
California Edison and Pacific Gas & Electric Co. have defaulted
 on several bond payments.
?????Michael S. Worms, senior vice president of Gerard, Klauer & Mattison,
described Davis as "very cognizant of the situation," adding that the
governor appears to understand the fundamental problem that California lacks
sufficient power plants to supply the populace.
?????"I got the impression he is on top of it. He understands the issues,"
Worms said.
?????Others were far less charitable. Davis' lack of specificity added to
their skepticism.
?????"I'd like to see specifics," said Steven M. Fetter of Fitch Inc., which
rates companies' credit-worthiness. "I didn't expect specifics, and he lived
up to my expectations."
?????Davis told the analysts that some power generators have agreed to forgo
full payments from the utilities. State regulators have barred Edison
 and PG&E from passing on to consumers the skyrocketing wholesale power costs
charged by independent power generators and marketers, leaving the utilities
owing billions.
?????Davis spokesman Steve Maviglio confirmed Wednesday that two generators
made "unsolicited offers" to the governor to write off some of
 their debt. He did not identify the independent generators or say how much
they would trim from their debt.
?????Representatives of the energy companies that have sold more than $1
billion in electricity to the state since January reacted coolly to Davis'
suggestion that they not receive full payment for their goods.
?????"The best insurance against continued energy shortages is full payment
for all deliveries that have been made in the past," said Gary Ackerman
 of the Western Power Trading Forum, a group of energy marketers and
generators.
?????Davis last week said he and Edison had agreed to the outlines of a deal
by which the state would give the utility $2.76 billion in exchange for
its share of the statewide electricity transmission system.
?????At the time, he said he hoped to have a more detailed version of the
plan by the end of this week, as well as one to buy transmission lines
 from San Diego Gas & Electric.

?????Fund-Raising Events
?????However, on Wednesday, the governor said a final agreement between the
state and Edison will not be reached for as long as a month,
maybe longer. A deal with PG&E, the state's largest utility, "could take a
little longer," Davis said, adding that the company's debt is far larger
 than Edison's.
?????"This transaction is going to be scrutinized for decades to come," he
said. "I'm determined to do it fairly but do it in a way that withstands
scrutiny."
?????After conferring with Bush administration officials and attending a
governors conference in Washington, D.C., over the weekend, Davis
arrived in New York on Tuesday to be feted at a fund-raising dinner hosted by
Richard Medley, an economic strategy consultant and head of Medley Global
Advisors. On Wednesday, Davis attended a breakfast fund-raiser at the
headquarters of the banking and financial services firm Citigroup, whose
chairman, Sanford Weill, served as host.
?????The governor raised an estimated $200,000 in all for his 2002 reelection
campaign, a source said, requesting anonymity. Neither Medley
 nor Weill could be reached for comment. Both men are significant political
donors to national campaigns.
?????While Davis sought to make the case for his utility rescue plan, members
of California's congressional delegation focused on efforts to reduce
 the high wholesale power costs at the heart of the crisis. The bipartisan
group of lawmakers pledged to press ahead with legislation that would impose
temporary price caps, after they met behind closed doors with Curt Hebert
Jr., chairman of the Federal Energy Regulatory Commission. Hebert is a
free-market advocate and has vigorously opposed price controls.
?????"You heard me screaming?" asked Rep. Bob Filner (D-San Diego) after the
meeting with Hebert.
?????"Almost everyone argued with Mr. Hebert that we need help from FERC,"
said Rep. Henry A. Waxman (D-Los Angeles), citing Democratic
 and Republican support for temporary limits on wholesale prices. "Mr. Hebert
didn't care."
?????"It didn't make any difference whether you were a conservative
Republican or a liberal Democrat," Waxman said. "We all felt that we were
 not getting the help we need from the Federal Energy Regulatory Commission."
?????But Waxman said he considered the meeting worthwhile "because it had to
impress upon Mr. Hebert" the strong support for price controls shared by many
California lawmakers.
?????Several Republicans who attended the session were less critical of the
agency and its chairman but expressed support for providing a
legislative fix in the absence of FERC intervention.
?????"The chairman is not going to be supportive of our bill, but he's at
least willing to talk with us and listen to us," said Rep. Duncan Hunter
(R-Alpine)
?????So far, only about half the delegation has endorsed the price cap
legislation. Filner noted that he and his ideological opposite, Hunter, have
 found common ground on this issue after hearing from constituents squeezed
by higher fuel costs.
?????During the meeting, Hebert declined--on his attorney's advice--to take a
stand on Davis' proposal to have the state take control of the
electrical transmission system, according to some of those attending. The
takeover would require FERC approval, and Hebert reportedly
expressed concern about taking a position on a matter that his agency has not
yet considered.
?????Hebert bristled when a reporter, chasing him down a hallway, asked if
FERC were doing enough to help California.
?????"We've worked so hard on California that we have a backlog of 2,000
cases right now," he snapped, adding that Davis never asked to meet
 with him.
?????Asked if he was aware of talk that another chairman might be named, he
said, "You'd have to ask the president that."
?????In other developments Wednesday:
?????* California's electricity grid was jolted into a Stage 2 power
emergency after several large electricity plants tripped offline in the
morning.
The outages were not related to the Seattle earthquake, which had no
significant effect on regionwide electricity operations, a grid spokesman
 said.
?????* Millions of Californians would receive rebates of 10 cents for every
kilowatt-hour of electricity they conserve this summer, under legislation
introduced by state Sen. Don Perata (D-Alameda). The bill, SB 63X, would set
aside $1 billion to reward consumers who reduce their power
 use compared with that of the same month a year earlier.
?????* Calpine Corp. said it signed two more long-term electricity contracts
with the state Department of Water Resources valued at $8.3 billion.
?????* Southern California Gas Co. agreed to provide as much as 30 million
cubic feet of gas per day to PG&E in the next month to help ease the
utility's difficulties in obtaining supplies. Under the agreement, PG&E will
guarantee payment to the Los Angeles gas utility by pledging gas
accounts receivable as security for unpaid balances that cannot exceed $16.5
million. Gas Co. Chairman Edwin A. Guiles said the agreement
should have no adverse effects on natural gas costs or service for any of the
company's 5 million customers.
---
?????Times staff writers Nancy Rivera Brooks and Nicholas Riccardi in Los
Angeles, Miguel Bustillo and Nancy Vogel in Sacramento and Tim Reiterman in
San Francisco contributed to this story.
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PUC chief says summer outages not inevitable
By Jim Sanders
Bee Capitol Bureau
(Published March 1, 2001)
California Public Utilities Commission President Loretta Lynch defended her
handling of the energy crisis in a speech Wednesday but made no promises that
blackouts won't occur this summer.
"We can probably dodge the bullet" if Californians reduce their electricity
use by 10 percent this summer, she said.
But the key will be Mother Nature. If temperatures soar far beyond a normal
year, she said, "We're going to have serious problems."
Gov. Gray Davis, meanwhile, sought to reassure stock analysts about
California's plans to cope with the crisis on a trip to New York, where he
outlined steps the state is taking to reach a deal to retire utilities'
debts.
But electric emergencies returned to plague California's grid, as imported
power from the Pacific Northwest dwindled.
After five days without issuing any power alerts, which warn that backup
electricity supplies have dipped too low, the Independent System
Operator declared a Stage 2 alert at 9:40 a.m. Wednesday. The warning was
scheduled to stay in place through midnight.
Unexpected power plant breakdowns and low imports triggered the alert, said
spokesman Patrick Dorinson.
California energy experts have predicted the state could be thousands of
megawatts of electricity short this summer, enough to leave millions of homes
without lights and air conditioning.
Lynch, who has been on the front lines as the state has spent billions of
dollars to keep the power on, declined to predict whether rates will rise
 to help solve California's electricity problems.
Rates will depend on many factors, she said, including the state's success in
securing long-term contracts at bargain rates, increasing power generation
and encouraging conservation.
Davis has vowed to keep rates "within the existing rate structure," but that
does not rule out ending a 10 percent rate freeze imposed several
 years ago or increasing rates for heavy energy users of debt-ridden Southern
California Edison and Pacific Gas and Electric Co.
Lynch said the state is on track to achieve stability in the electricity
industry through its proposal to buy 32,000 miles of power transmission
lines.
Lynch, a former campaign volunteer for Davis, was director of his Office of
Planning and Research before being named to the PUC in December 1999.
She started her speech Wednesday to the Sacramento Press Club with a
whimsical reference to the biblical character known for his suffering.
"I now understand what Job must have felt like," Lynch quipped.
She blamed the energy crisis largely on the fact that California's
electricity deregulation forced utilities to sell many of their power plants
and left
 them vulnerable when out-of-state generators failed to meet supply
expectations and wholesale prices soared.
"That lack of vision has come at an extraordinary price for California,"
Lynch said.
Asked what the PUC, in retrospect, could have done to avert the crisis, Lynch
pointed again to deregulation.
Officials should have seen that deregulation wasn't working, she said, and
either reversed it or re-evaluated it.
"From my perspective, the system we created was built on theory, hope and
promise," she said. "The promise was not realized because the
theory was faulty."
Deregulation of the industry did not lead to the heavy competition that was
predicted to provide ample supply and lower prices.
Lynch defended the PUC against criticism that it exacerbated the crisis by
reacting too slowly to requests that would have allowed utilities to
 raise rates and/or negotiate long-term energy contracts at lower-than-market
rates.
Lynch said the PUC has voted consistently since last August to allow the
utilities to enter into long-term power contracts.
"When the utilities asked, we gave them the authority -- and in some cases at
lightning speed," she said.
In recent legislative hearings, utility officials said the PUC's votes did
not solve their problems because the agency reserved the right to determine
 in years to come whether the contracts were reasonable. If the PUC
ultimately decided against the utilities, the officials said their
shareholders
 could be left holding the bag for large sums of money collected years prior
to the "reasonableness review."Thus, the utilities hesitated to enter
 into long-term pacts.
Lynch said her agency has a responsibility to protect consumer interests
regarding rate hikes.
"It was their business decision not to (negotiate long-term contracts)
fully," she said of Edison and PG&E.
Lynch also said the Federal Energy Regulatory Commission's actions in
December helped send electricity rates soaring 500 percent in five days.
Before FERC acted, she said, "the utilities were bleeding, but they weren't
hemorrhaging."
------------------------------------------------------------------------------
----------------------------------------------------------------

Dan Walters: Why has probe stopped short?

(Published March 1, 2001)
Earlier this year, as California's energy squeeze morphed into a full-blown
crisis, the state Assembly's leadership opened what it said would be
an in-depth investigation, modeled after the much-acclaimed probe of former
Insurance Commissioner Chuck Quackenbush.
A special subcommittee, chaired by Assemblyman Darrell Steinberg,
D-Sacramento, was established, investigators, many of them veterans of
 the Quackenbush probe, went to work, and a few days of hearings were
eventually held.
The reality didn't live up to the advance billing. Utility executives and
other players were grilled, but the hearings fell far short of laying out who
 made what decisions that brought the utilities to the edge of bankruptcy and
left California scrambling to find and pay for enough juice to keep
its lights burning. And then the hearings ended abruptly, the apparent victim
of a partisan conflict.
Republicans have been demanding a deeper inquiry into what the Public
Utilities Commission, and inferentially Gov. Gray Davis, did or not do
 last summer when the crisis first began to make itself felt. And their
partisan interest is also clear: Pinning the crisis on Davis and the PUC would
 be ammunition for the 2002 election, when Davis is seeking re-election.
Democrats want to move into aspects of the energy crisis, such as
shortages of natural gas and the electricity supply prospects for next
summer, that would not expose the governor or the PUC to any
 embarrassing revelations.
Steinberg insists that he's not trying to protect Davis. But only this week,
after Republicans exerted behind-the-scenes pressure, did he send
 a letter to the PUC backing the GOP demand for extensive access to critical
documents and interviews of key participants in last summer's
 actions.
Utilities executives say they pleaded with the PUC and Davis last summer to
acquire long-term, low-cost contracts with suppliers, but that they
 were rebuffed. The issue is critical, because the lack of long-term
contracts meant that utilities ran up many billions of dollars in debts to
pay for
 power at soaring spot market prices -- a form of deficit financing that the
state is continuing. How much of that debt should be eaten by utilities,
 and how much should be recovered from ratepayers is, perhaps, the single
most controversial aspect of the crisis.
The touchiness of the issue was underscored Wednesday when PUC president
Loretta Lynch appeared before the Sacramento Press Club and
 dismissed as "one of the biggest myths" and "a tremendous canard" the
allegation that the PUC had blocked long-term supply contracting. She
 said the PUC had granted long-term contracting authority to the utilities,
but they allege that the permission came with too many financial strings
 to be practical.
Lynch also denied that the PUC has dragged its feet in responding to demands
for documents, citing the overwhelming volume of both the
 demands and the inquiries from several legislative committees. Earlier last
month, PUC executive director Wesley Franklin complained in one
response to legislators that the demanded documents "may include confidential
information" and complying with the requests would "entail
considerable time and effort for us to compile ... "
Whether the legislative hearings ever return to last summer's events is
uncertain. The Republicans' partisan motives aside, however, it is important
 to establish what role Davis and the PUC played so that the public can judge
any Davis-brokered settlement of the utilities' debts. It's also an
 important test for Assembly Speaker Bob Hertzberg, who is very proud of the
investigation of Republican Quackenbush and has pledged that
 other official shortcomings would be ruthlessly examined regardless of their
partisan origin.
DAN WALTERS' column appears daily, except Saturday. Mail: P.O. Box 15779,
Sacramento, CA 95852; phone (916) 321-1195;
 fax: (781) 846-8350
E-mail: dwalters@sacbee.com
Recent columns: http://www.capitolalert.com/voices/index_walters.html
------------------------------------------------------------------------------
-----------------------------------------------------------------

Newswatch: PG&E's gas rates to ease in March

(Published March 1, 2001)

Rates for natural gas will inch down in March but will remain more than twice
as high as a year ago, Pacific Gas and Electric
 Co. said Wednesday.
Household gas bills will average $95 this month, up from $45 in March 2000,
but down from this winter's high of $125 in
January, the utility said.
Gas rates are high nationwide as the result of years of reduced exploration
while prices were low. But they have been far
higher in California and various analysts have suggested a range of reasons:
pipeline and storage shortages; soaring
demand by power plants; and market manipulation.
PG&E figures a different rate each month, based on how much it expects to
spend buying gas for households and small businesses. Large businesses are
responsible for lining up their own supplies.
An average March household bill will be about 16 percent lower than an
average February bill, which PG&E calculated at
$113.
-- Carrie Peyton
------------------------------------------------------------------------------
-------------------------------------------------------------

Davis optimistic about fed approval for power line deal

ASSOCIATED PRESS
February 28, 2001
WASHINGTON ) California Gov. Gray Davis is hopeful federal energy officials
will back a proposal aimed at easing the state's energy crisis by purchasing
a wide swath of transmission lines.
While the Davis administration continued negotiations with three
investor-owned utilities Wednesday, the state's weeklong respite from power
alerts came to an end.
Four Western power plants shut down unexpectedly, prompting grid officials to
call a Stage 2 alert with electricity reserves expected to drop below 5
percent, said spokeswoman Lorie O'Donley of the California Independent System
Operator. The plants included two in Montana and one each in Oregon and
Northern California.
In addition, several California plants were down for scheduled repairs,
O'Donley said.
The state has been besieged with electricity problems in recent months. They
include the near-bankruptcy of Southern California Edison and Pacific Gas and
Electric Co. and a lack of power that resulted in rolling blackouts twice
last month in Northern California.
On Friday, the governor announced a deal to purchase Edison's power lines and
require Edison International, the utility's parent company, to sell cheap
power to the state for a decade.
Davis gave the Edison proposal to Energy Secretary Spencer Abraham on Tuesday
and expects a response by the end of the week.
Abraham "wants this problem solved and he's been very supportive," Davis
said. "He's recommended approval on every request I've made, and I believe he
will support our proposal."
Supporters say the $2.7 billion plan to buy Edison's transmission system and
have the state spend several billion more to buy the power lines of its other
two investor-owned utilities, could lead to quick improvements to a
bottlenecked system overdue for repairs. Critics contend it would saddle the
state with an antiquated network that could prove costly to fix.
The Davis administration continues negotiating with PG&E and San Diego Gas &
Electric. In all, Davis' plan would put 26,000 miles of power lines under
state control at a total price that could range from $4.5 billion to $7
billion.
Edison officials said Tuesday they would prefer a deal that includes all
three utilities, but might agree to sell Edison's transmission lines alone as
long as it is not held responsible for any of PG&E's debts.
As a member of the California Power Exchange, Edison agreed to pay a share of
any default by any other member.
A group of power generators have sued the exchange because they were charged
a portion of the debt owed by Edison and PG&E. That lawsuit is on hold while
the issue is being decided by the Federal Energy Regulatory Commission.
"Clearly it is simpler and a lot cleaner if all three utilities are
ultimately a party to some sort of agreement with the state," Ted Craver,
chief financial officer of Edison International, said during a conference
call with creditors. "It's not necessarily the only way it can be done."
The governor feels the state won't "have a satisfactory arrangement without
having 60 percents of the transmission lines and that requires that we have
an agreement with PG&E," spokesman Roger Salazar said.
Edison and PG&E say they have accumulated nearly $13 billion in losses
because the state's 1996 deregulation law prevented them from passing the
true costs of wholesale energy ) which have soared since last June ) to their
customers.
The governor's plan would infuse the utilities with part of the cash they say
they need to remain solvent.
Some state lawmakers have said the long-term costs of the plan outweigh the
immediate benefits because the transmission lines need repairs that could
cost an estimated $1 billion a year.
Assembly Minority Leader Bill Campbell, R-Villa Park, said Republican
lawmakers are unlikely to support the governor's plan, which needs
legislative approval.
Without Republican support, the measure could still pass, but it would take
effect 90 days after the governor signed it, rather than immediately.
"That's a hurdle, waiting 90 days in these delicate times," Campbell said.
Addressing a lunch for the California State Society attended by members of
the state's congressional delegation, Davis outlined his plans to resolve the
energy crisis, in part by speeding up power plant construction.
"We have a real challenge this summer and the following summer," he said.
"The third year I think enough generation will be online so that we're in
much better shape."
Davis has issued executive orders to shorten the approval process for new
plants and expects to gain 5,000 megawatts by summer ) enough to power about
5 million homes.
In addition to increasing power production, Davis emphasized the need for
greater conservation, advising his state's consumers to turn off lights in
empty rooms, unplug unused appliances and lower thermostats.
"In my house, my wife has the thermostat down to 55 degrees," he said. "Going
to the kitchen in the middle of the night is like a trip to Antarctica."
??

On the Net:
California Energy Commission: www.energy.ca.gov
U.S. Department of Energy: www.energy.gov
California Independent System Operator: www.caiso.com
------------------------------------------------------------------------------
---------------------------------------------------
BUSINESS
Partial Power Payments / Governor asks that generators take less
Christian Berthelsen
?
03/01/2001
The San Francisco Chronicle
FINAL
Page B1
(Copyright 2001)
California Gov. Gray Davis yesterday suggested that power generators accept
partial payment for the electricity they have supplied to the state's
financially troubled utilities.
Analysts at the meeting said the governor made reference to a company that
had agreed to do so. However, he did not identify the company or offer
details about how much it would accept.
Davis' comments at a closed meeting with analysts in New York City are
significant because they represent an apparent departure from the power
companies' position that they be repaid in full.
The move is in line with the governor's view that the generating companies
selling electricity to California 's utilities should contribute "modestly
and voluntarily" to solving the crisis.
Said Richard Cortwright, an analyst for Standard & Poors: "It came across
pretty loud and clear that he felt they could afford to take less than a
hundred cents on the dollar and still do pretty well for themselves."
Several power companies, including Enron Corp. and Reliant, both of Houston,
were quoted by Bloomberg News as saying they were surprised by the governor's
statements.
Davis went to Wall Street yesterday for the first time during the California
power crisis to reassure the financial world's opinion- makers he is doing
all he can to resolve the problem.
During the meeting, Davis presented a history of how California 's
investor-owned utilities came to be in the sorry financial shape they are in.
He was also said to have emphatically ruled out electricity rate increases,
saying they are politically unfeasible and would be easily undone by a voter
initiative.
Davis also said he will have a deal within 30 days to purchase transmission
lines from Pacific Gas & Electric Co. and Southern California Edison.
Financial analysts are looking forward to that deal as a way of providing the
utilities with some cash to work their way out from under a combined debt
load estimated at $13 billion. The utilities have been barred by law from
passing high wholesale power costs on to customers.
At a press conference after the meeting, Davis told reporters that
negotiations are improving between the state and PG&E for a deal similar to
the one announced with Edison last week. In that transaction, the state would
buy Edison's power lines for $2.76 billion, and Edison would issue bonds to
recover its wholesale power costs.
Yesterday's meeting was closed to the media and investors, and no Internet
broadcast or teleconference of the event was available. That frustrated some
investors and analysts who had hoped for greater access -- particularly
bondholders of the two utilities, who have the greatest power to push the
utilities into bankruptcy if they decide to do so.
But a transcript of the session was being prepared yesterday and is expected
to be made available this morning on the governor's Web site,
governor.ca.gov.
Analysts who attended the meeting said the Davis visit was productive, though
not likely to produce any immediate change in equity recommendations or bond
ratings.
"There wasn't any news that's new," said Dave Hitchcock, director of Standard
& Poor's state and local government group. "He reiterated he expects an
agreement with PG&E in 30 days. So we have a date we can watch."
Indeed, there appeared to be little immediate reaction in the market during
the 45 minutes or so of trading that was left after the meeting broke.
Trading volume for PG&E remained under 25,000 shares, and the stock closed at
$13.96, down 9 cents.
Trading was heavier in Edison shares, which ended the day down 4 cents at
$14.90. Both stocks are trading at around half of their 52- week highs.
------------------------------------------------------------------------------
------------------------------------------------------------------
BUSINESS
PG&E May Be Ready To Deal / Lawyers to advise it on selling lines
David Lazarus
?
03/01/2001
The San Francisco Chronicle
FINAL
Page B1
(Copyright 2001)
Pacific Gas and Electric Co. has retained outside counsel to advise it on
selling its transmission lines to the state, The Chronicle has learned.
The move represents a potential breakthrough in the stalemated talks between
PG&E and representatives of Gov. Gray Davis on California 's plan to buy the
utility's power lines for perhaps more than $7 billion.
Southern California Edison already has voiced willingness to part with its
transmission lines. But sources familiar with the negotiations said PG&E has
remained largely inflexible, insisting that its lines are not for sale.
That stance could be changing.
According to an internal memo sent to some PG&E employees this week, the
utility is bringing in attorneys from an unspecified law firm to offer
guidance on a potential sale of assets.
"The company has hired a law firm to help deal with a possible purchase of
the electric transmission system by the state, as proposed by Gov. Davis as
part of a deal to resolve the utility debt problem," the memo said.
It added: "Don't read anything into this regarding an agreement by PG&E to
sell or not to sell."
Ron Low, a PG&E spokesman, refused to confirm the contents of the memo or
even that such a memo was issued.
Choosing his words carefully, Low said: "We are not aware of the alleged
memo. We cannot speculate on a memo we have not seen." He said he was
speaking on behalf of the public relations department.
Asked whether outside counsel had been retained, Low said, "It would be
inappropriate to comment on ongoing discussions with the governor."
Nevertheless, sources within the utility said the new lawyers are being given
workstations in PG&E's land department, where records of real estate holdings
are kept.
The sources interpreted this as a sign that the utility is eager to place a
higher value on its assets -- almost certainly more than the governor has
offered so far.
Edison already has agreed to sell its power lines for $2.76 billion, which is
about 2.3 times book value, or the value placed on the system for accounting
purposes.
If PG&E were to accept a similar premium on its lines, the sale price would
be $7.2 billion.
Sources within the utility said that if a deal is reached, it will likely be
for above this amount. The new lawyers, presumably, are intended to help PG&E
drive a harder bargain.
"They're trying to play hardball, but I'll bet they submit," said Richard
Bilas, who sits on the California Public Utilities Commission. "Getting more
than two times book value doesn't sound like a bad deal."
The governor told Wall Street analysts in New York yesterday that the
negotiations with PG&E could last another month.
On Tuesday, he said U.S. Energy Secretary Spencer Abraham is open to
California 's buying the utilities' power networks. Federal approval is
necessary for the plan to work.
The Bush administration and federal regulators have been less forthcoming,
however. Privately, they have expressed skepticism about a public entity's
taking over private energy assets.
California is hoping to return the state's cash-strapped utilities to
solvency by handing over billions of dollars in return for hard assets. PG&E
and Edison have racked up nearly $13 billion in debt as a result of the
state's bungled efforts to deregulate electricity prices.
Sources familiar with the talks said Edison's parent company, Edison
International, appears eager to get out of the utility business, while PG&E's
parent, PG&E Corp., would prefer to remain a player in the industry.
"The companies are structured differently," said the PUC's Bilas. "I believe
Edison has a much broader operation than PG&E."
------------------------------------------------------------------------------
------------------------------------------------------------------
EDITORIAL
OPEN FORUM
Generating Ideas / Deregulation, done right this time -- not state control --
is the answer to Calfiornia's energy woes
Kenneth L. Lay
?
03/01/2001
The San Francisco Chronicle
FINAL
Page A23
(Copyright 2001)
BLACKOUTS, skyrocketing electricity prices and the threat of bankruptcy of
two large utilities must mean the failure of deregulation, right?
No, it's not right.
What has happened in California over the past four years is not deregulation.
It is misguided regulation.
Deregulation does not mean eliminating customer choice and competition for
most customers. Deregulation does not mean limiting new market entrants.
Fewer than five percent of customers in California are served by competing
suppliers.
Deregulation does not mean creating a single central power pool from which
all participants must buy and sell their wholesale power; the state Power
Exchange effectively replaced three monopoly buyers with one monopoly buyer.
Deregulation does not mean buying all of your commodity at the last minute,
on the spot market, rather than planning ahead and purchasing most of the
power under long-term contracts that lock in prices.
The situation in California is the result of continued regulation,
complicated by a series of natural and man-made factors.
In the past two years, California has enjoyed an economic boom fueled by a
burgeoning technology industry. Since 1995, demand for electricity in
California has grown by 5,500 megawatts. Supply, on the other hand, has not
kept pace.
California was clearly headed for major problems when nature pushed it over
the edge. November and December 1999 were the warmest in the previous 100
years. Those same months in 2000 were the coldest in the last century. Add a
sharply reduced snowpack that has dried up hydro sources from Northern
California and the Pacific Northwest. Add tight gas supplies across the
country, and you have an electricity supply problem in the West and an
electricity supply crisis in California .
The problem in California 's energy market is simple: There is too little
supply and too much demand. As a result, every potential solution must
address either or both of those factors, and the test for any proposal must
be: Does it increase supply? Does it decrease demand?
California desperately needs new generation. While Enron and other companies
have built peaker generation facilities in as little as 10 months in other
states, it takes years to construct a power plant in California .
The state also suffers from a congested transmission system, which prevents
the delivery of power to where it is needed. California needs quicker siting
for power plants and expanded transmission facilities.
California also needs real-time pricing -- pricing that reflects the
difference in the cost of providing electricity at peak periods as compared
to non-peak periods.
As a country, we're power hungry. Virtually all of our daily amenities are
fueled by electricity. We flip switches and use electricity anytime we want,
with no thought to the cost at a given moment.
But if customers, particularly large commercial and industrial customers,
received real-time price signals, they'd know how much they were paying for
electricity at any given time. This would encourage conservation or shifting
usage to off-peak times to reduce electric bills.
This would also spread California 's scarce electricity supplies over more
users (including those residential customers who don't have the flexibility
to reduce or shift demand) and reduce the risk of rotating blackouts.
A complementary demand-side solution would be to purchase demand reductions.
If utilities or the state are willing to pay $75 for a megawatt hour, they
ought to be willing to pay $75 for a "negawatt" hour.
This would free up still additional megawatts to meet peak demand.
Blackouts are not voluntary, but by giving customers incentives to reduce
demand, the choice is theirs, and the result is less disruption to business
and the economy.
Customer choice is absolutely essential in creating a competitive market and
in allowing consumers to realize the benefits of competition.
Just ask utility customers in San Diego, whose supplier purchased most of its
power on the spot market. When prices jumped, those hikes were passed along
to the consumer. The only customers who were protected were those who chose
alternative suppliers like Enron and had locked in a price, thus avoiding the
sharp price increases.
California needs to rely less on the spot market. A balanced portfolio of
short- and long-term purchases by customers would sharply reduce
Californian's exposure to volatile prices and would bring down prices in the
near term.
California needs to restore the creditworthiness of the utilities, which is
necessary to attract new generation and long-term supply commitments. The
state has made a significant first step by allowing the state Department of
Water Resources to purchase power on behalf of the utilities.
In a crisis, it is equally important to understand what won't work.
We cannot afford to waste time on things that don't work or make matters
worse. California does not need state control of the power business.
There is no reason to believe -- and every reason to doubt -- that government
will do a better job than private firms in rapidly constructing new
facilities and operating them efficiently. In every other developed nation,
governments are getting out of the power business, not trying to get in it.
What California does not need is price caps, which don't work because they
neither increase supply nor decrease demand. In fact, they worsen the
situation. Price caps discourage investment in the development of new
generation.
When the state imposed price caps last October, companies such as Enron were
forced to cancel plans for more than 1,000 megawatts of peaking generation
that would have been online by this summer. Peaking plants are designed to
run fewer than 30 days a year -- only on days when supplies are tight. And if
price caps are in place, companies cannot recover their capital investment.
Price caps also discourage conservation and sales of power into the state
from power plants in other states.
If done right, deregulation means choice and competition. Deregulation means
lower prices. Deregulation means innovation. California has the opportunity
now to get it right.

GRAPHIC; Caption: PAUL LACHINE/Special to The Chronicle


----- Forwarded by Tana Jones/HOU/ECT on 05/10/2000 09:18 AM -----

	Tom Moran
	05/09/2000 05:48 PM

		 To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT
		 cc: Tom Moran/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT, Linda S Bryan/HOU/ECT@ECT,
Connie Sutton/HOU/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT, Molly
Harris/HOU/ECT@ECT, Cynthia Clark/Corp/Enron@ENRON, Samuel
Schott/HOU/ECT@ECT, Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global Contracts
and Facilities
		 Subject: EOL / Credit / GCP Responses 5/9/00

Please find attached Credit's EOL responses for 5/9/00

Regards
tm


are we still doing dinner some time, as well

"Larry W. Bass" <lwbthemarine@bigplanet.com> on 09/05/2000 12:50:57 PM
To: Eric.Bass@enron.com
cc:
Subject: Re: Bonnie

Why pray tell do you need to leave by 11:45? Details please.-L

----- Original Message -----
From: <Eric.Bass@enron.com>
To: <lwbthemarine@bigplanet.com>
Sent: Tuesday, September 05, 2000 12:17 PM
Subject: Re: Bonnie

>
> 2. we will probably come out around 10 b/c i need to leave by 11:45 or so
>
>
>
>
> "Larry W. Bass" <lwbthemarine@bigplanet.com> on 09/05/2000 12:03:12 PM
>
> To:   Eric.Bass@enron.com
> cc:   jason <jason.bass2@compaq.com>, KATHY BASS
<daphneco64@bigplanet.com>
> Subject:  Re: Bonnie
>
>
> That is fine with me. How many?-Dad
>
>
>
>
> ----- Original Message -----
> From: <Eric.Bass@enron.com>
> To: <lwbthemarine@bigplanet.com>
> Sent: Tuesday, September 05, 2000 11:56 AM
> Subject: Re: Bonnie
>
>
> >
> > can we make it 10:30?
> >
> >
> >
> >
> > "Larry W. Bass" <lwbthemarine@bigplanet.com> on 09/04/2000 02:23:34 PM
> >
> > To:   jason <jason.bass2@compaq.com>, eric preston bass
> >       <Eric.Bass@enron.com>
> > cc:
> > Subject:  Bonnie
> >
> >
> >
> > Howdy. Bonnie will be here Thursday, for a week. If  you guys are
> > available, we thought we would take all to Brunch @ SWCC, 11 a.m.
> Sunday.
> > Girls are invited. Let me know if you can make it and if your better
> > halves will accompany you. Do so, please, by Wed., so I can make the
> > reservations.-Dad
> >
> >
> >
> >
>
>
>
>
>


til sunday

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 11:21 AM
To:	Maggi, Mike
Subject:	RE:

for how long?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 11:20 AM
To:	Nelson, Michelle
Subject:	RE:

next thursday

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 11:20 AM
To:	Maggi, Mike
Subject:	RE:

very funny.  so when are we leaving?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Wednesday, November 21, 2001 11:18 AM
To:	Nelson, Michelle
Subject:	RE:

nope ny

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Wednesday, November 21, 2001 11:17 AM
To:	Maggi, Mike
Subject:

did you book my flight to pakistan?  i am thinking that i need to be leaving soon.  like tomorrow.


Did you all see the blurb in Sep. 29 gas daily on Williams' deal with PROS on
a revenue management system?  May be useful to use with our management if
there is anxiety about going forward.  DF


Joanne called in this morning with hardly a voice!  She said she coughed all night and is "going to bite the bullet and go to the doctor".   She will not be in today.

Reminder:  She will be out tomorrow as planned, using her Discretionary Holiday.


This Order

Agenda
01
02
03
04


Steve,

Taking summer interns is the best way to screen and identify good candidates
at low cost and low risk. I would take this person in,
assuming you can still run it by the Analyst/Associate program. They closed
the books
for the summer.

Let me know if you run into any roadblock. I shall try help you from here.

Vince

Steven Leppard
03/29/2000 08:31 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: here it goes!

Vince

Do you have any views on taking summer interns here in the Research group in
London?  One of our Analysts has recommended a friend of hers (resume
attached).  I'm sure we could dream up some work for an intern, so let me
know what you think.

Many thanks,
Steve
---------------------- Forwarded by Steven Leppard/LON/ECT on 03/29/2000
03:30 PM ---------------------------

Zuzana Strmenova
02/23/2000 10:51 AM
To: Steven Leppard/LON/ECT@ECT
cc:

Subject: here it goes!

Thanks, a lot Steve.


HEADLINE: Davis faces dire political consequences if power woes linger

BYLINE: By Daniel Borenstein

BODY:

??WALNUT CREEK, Calif. _ As Democrats prepare for their first statewide
convention since the electricity crisis erupted, some elected officials and
strategists are warning of dire political consequences if Gov. Gray Davis
fails
to clean up the power mess.

??"All of us should be thinking about the effect the energy crisis is going to
have on our chances of maintaining control of both houses, and the effect the
governor will have on the ticket up and down," said state Sen. Don Perata,
D-Alameda. "If he has not performed well and he has a D after his name, that
could be problematic."

??Garry South, the governor's top political strategist, said Thursday that the
state's electricity woes probably won't be over soon, but the voters
understand
Davis didn't create the problem.

??"It won't be solved in six months," South said. "This is an immediate
problem
that is not susceptible to an immediate solution. This is a several-year
process
to get this situation back under control."

??As for the governor's critics, "I think they should be asked to produce
their
own plan. It's awful easy to take pot shots, but most of those who I read
about
in the newspapers have no plan."

??The intraparty sniping on the eve of the party convention highlights the
frustration Democrats are feeling about the crisis_and its potential political
damage.

??Four months ago, this weekend's convention in Anaheim seemed certain to be a
Davis fete. Although Democrats had lost the presidency, Al Gore easily carried
California and the party was in firm control of the Legislature and the
state's
congressional delegation.

??Davis had led the Gore effort in California and the governor was personally
and politically popular across the state. This would have been the convention
for him to showcase his achievements for education, the issue he had promised
to
make the hallmark of his first term.

??But electricity now overshadows everything else. To be sure, the governor
will tout his policy achievements during a Saturday morning speech to the
convention delegates. And he is not shying away from the spotlight.

??Tonight, he will host a party for the delegates at Disney's California
Adventure Theme Park. That prompted one Democratic consultant from Sacramento
who won't be attending to quip, "We're in fantasy land here, thank you. We
don't
need to go to Disneyland for that."

??Some are shaking their heads in disbelief at how the governor has handled
the
events of the past week. "In many ways, he appears to have gone politically
tone
deaf," said Sherry Bebitch Jeffe, political analyst at Claremont Graduate
University. "His instincts are not serving him well."

??While his top aides were meeting with legislators last week to warn them
that
a $10 billion bond package won't be enough to get the state out of the crisis,
Davis was at a $10,000-per-person Palm Springs golf tournament to raise money
for his re-election campaign.

??When his hand-picked members of the Public Utilities Commission this week
approved an electricity rate hike that experts have been predicting for
months,
Davis claimed that he didn't know about the plan before it was announced and
that he thought it was premature.

??Other Democrats, however, thought the commission action was overdue. "I'm
glad to see the PUC stepping out and doing something along the lines that some
of us have been talking about needing to be done for the last six or eight
weeks," said state Sen. Tom Torlakson, D-Antioch. "There's a high level of
frustration. There haven't been clear answers to what the solution is."

??South, the Davis political strategist, said a lot of factors are outside the
governor's control. "No one can predict with any certainty where this is going
to go, and no one can predict when this situation is going to be brought under
control. We don't control the generators, we don't control the FERC (Federal
Energy Regulatory Commission), we don't control what Wall Street is going to
do."

??As for the potential political fallout, South said the governor and
Democrats
remain in a strong position. After all, he said, the deregulation plan was
pushed through by a Republican governor and Republicans in Washington are
blocking efforts to cap prices.

??Jack Pitney, government professor at Claremont McKenna College, predicted
Davis could weather the electricity crisis. "People who are following it know
it's roots run deeper than the Davis administration and the Republicans don't
have any plausible alternatives," he said.

??"My read of public opinion is people don't think there's a simple and easy
solution and they're not expecting one. They may be impatient but they won't
necessarily take it out on (Davis)."

??It's too early to predict the political outcome, said Mark Baldassare,
pollster at the Public Policy Institute of California.

??"The impacts won't be clear until people have gone through a few billing
cycles and we've gone through the summer blackouts, until we see what the
personal impacts are so we know what the political impacts are," he said.
"That's the really crucial period for Gray Davis' political future, after this
summer."


F.Y.I. Japanese Electricity is the newest item added to the Daily Position
Report.  A new deal was entered and is reflected on the 1/30/01 Final DPR.
It is listed in the Enron Europe sub-heading, under the Enron Wholesale
Services title.

Kenneth Thibodeaux


John,

HTML version of Enron article:

Vince

"John D. Martin" <J_Martin@baylor.edu> on 02/04/2001 06:37:47 PM
To: vkamins@enron.com
cc:
Subject: Latest revision

Vince,

I have made bold face edits to the attached document.  I still have two edits
to make but am concerned that you were not reading the most recent version.
Sorry for any confusion but the editor doesn't use the edit function in word
so I have ended up making edits on new versions of the paper.

I still haven't made the change regarding the take-or-pay problem (I left
that paper at home in my briefcase and will make the change tomorrow
morning).  Also, I haven't added anything regarding the conflict that arose
over pay for new hires nor have I received the Business Week e-mail from you.

However, if the paper looks ok to Mark Palmer we can make these minor edits
on the galley pages of the article.

thanks

john

p.s. i am very disappointed about the scheduling conflict you have on Feb
23rd.  you will be greatly missed but i certainly understand.
John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
J_Martin@Baylor.edu
web:    http://hsb.baylor.edu/html/martinj/home.html


If you think this is worth pursuing, get in touch with Christie.
---------------------- Forwarded by Steven J Kean/HOU/EES on 07/25/2000 02:08
PM ---------------------------
From: Christi L Nicolay@ECT on 07/25/2000 01:46 PM
To: James D Steffes/HOU/EES@EES
cc: Steven J Kean/HOU/EES@EES, Richard Shapiro/HOU/EES@EES, Joe
Hartsoe/Corp/Enron@Enron, Kevin M Presto/HOU/ECT@ECT
Subject: Idea

AEP, ComEd, Duke and CP&L announced last week that they would be
collaborating on a new version of a net based system better than OASIS.  I
think that Enron should consider joining with these utilities on this.  There
may be substantial Enron upside to such a venture from added information
disclosure and standardization and streamlining for easier use:

On 7/14, FERC issued an Advance NOPR asking for input by 2/15/01 on OASIS
Phase II (the new OASIS proposal).  In particular, FERC states that this new
OASIS should address: (i) communication of critical market information (like
transmission rights); (ii) posting of ATC, TTC, and CBM; and (ii) seams
issues between RTOs (transmission service across multiple RTOs).  FERC says
that the new OASIS should make use of Internet, interactive displays, etc.
FERC also asks for information on dynamic notification (where the OASIS
automatically alerts the customer to changes in ATC, reservations, etc.)
This type of functionality would allow Enron to determine if it wants to stay
in a queue when transmission becomes available (rather than getting kicked
out after the first denial for lack of ATC.)  FERC also wants information on
whether generator-run status should be included on OASIS; electronic
scheduling (which can now be done via etag); and business practices that
should be standardized.
Enron could have significant input to force these utilities to propose a
good, customer friendly system that provides valid and helpful data on ATC,
TTC, and CBM, rather than the total lack of substantive information that is
available today.  (Recall that Enron proposed that CBM use be posted--FERC
has not adopted that idea yet.)
Because these are critical utilities, any system that they propose may be
very likely to be adopted (with some changes).  I think it is better to be in
on the front end.  Enron's participation would also give validity to their
system.
Dan Larcamp told me that he would like more "classes" for his staff from
Enron and that we should give joint classes with AEP because Susan Tomasky
told Dan L. that "AEP has nothing to hide."  This type of venture would allow
AEP one venue to make good on that statement.
Steve K. asked us to pursue the idea that Enron build a computer system.
This may be a good way to have significant input while leveraging these
companies' money and promoting Enron's congestion model ideas, etc.


I'll get back with you on this within a couple of days.   Do you want an indicative bid for 7x24 bus-bar energy (2, 5 and 10 years).   We would not bid on the entire 1000 MW - maybe 150-200 MW.

thanks for the info.

Kevin Presto
UBS Warburg Energy
kevin.presto@ubswenergy.com
Phone:  713-853-5035
Fax:  713-646-8272

-----Original Message-----
From: Fred W. Giffels [mailto:fgiffels@HGP-Inc.com]
Sent: Monday, February 11, 2002 3:48 PM
To: Presto, Kevin M.
Cc: Dan Salter
Subject: Confidential Contact data and RFI

Kevin
I just got the attached e-mail returned with your new address. Let me know if this one makes it thru
Fred

Confidential
Kevin
I know you are quite busy but I wonder if you could get your lead trader to look the following forecast for NEEPOOL. This may result in you getting the lead for a large block of the power so be conservative but have enough in there so it is a win win if you know what I mean.

Have him fill in what he can. The client will be looking long 10 year, with maybe a series of 2 and 5 year deals. Should be putting out around 500 to 700 Mwe.

Do not disclose the plant eh ?
Call me at 864-370-0217 or 864-235-5607 or mobile 864-275-3193
Thanks
Fred


let's talk this afternoon.

	Enron North America Corp.

	From:  Kimberly Brown                           07/10/2000 08:54 AM

To: Scott Neal/HOU/ECT@ECT
cc:
Subject: Fall Class

I would like to know if  I could take a class in the fall from 7:00- 8:15
a.m. ?  I would be in at 8:30 and it would be two days a week .  I would stay
late to make up for that time. Rain comes in at 7:30 and Felecia gets here at
8:00, so the phones would be covered.  Please let me know as soon as
possible, as registration is this week.

Thanks


---------------------- Forwarded by Hunter S Shively/HOU/ECT on 10/16/2000
09:50 AM ---------------------------

	Enron North America Corp.

	From:  Corporate Benefits @ ENRON                           10/12/2000 06:23
PM

Sent by: Enron Announcements@ENRON
To: All Enron Worldwide employees
cc:
Subject: Open Enrollment 2001

Open Enrollment 2001 is going on now through October 22nd, 5pm CST for
regular full-time and regular part-time employees.  Your 2000 elections will
automatically rollover for 2001, so if you don,t want to make any changes, DO
ABSOLUTELY NOTHING!  Annual elections for all Flexible Spending Accounts will
rollover too!  Yes, you heard right ) ALL 2000 ELECTIONS WILL AUTOMATICALLY
ROLLOVER FOR 2001, INCLUDING SPENDING ACCOUNTS!

To make it even more convenient, print your 2001 confirmation statement right
from the web site and you,re finished!  Sound easy?  It is!  Don,t have your
packet?  No problem!  You can access the enrollment 2001 web site and print
your personal worksheet right from your desktop.  Call Benefits at
1-800-332-7979, Option 1, for additional information or assistance.
Confirmation statements will be mailed to your home at the end of October and
final changes for 2001 can be made via the web or IVR from 11/8-11/15.

Logon to WWW.ENRON.BENEFITSNOW.COM today!

QUICK FACTS
? 100% Default for All Current Elections and Spending Accounts ) Don,t Want
to Make a Change?
 Then Do Absolutely Nothing ) Your 2000 annual election will ROLLOVER for
2001!

? $250 Medical Deductible Plan for Employees Residing Outside of a Network
Area

? HMO plans going away )
Coventry Health Care of Iowa (formerly known as Principal Health Care)
Presbyterian Health Plan
HealthNet of Oregon (formerly known as Qual/Med)
Blue Shield of California

? Orthodontia treatment is NOT considered a pre-existing condition under the
Enron Corp. Dental Plan.
 The Plan will coordinate with other coverage based on coordination of
benefit (COB) rules.
 (Contact MetLife at 1-800-492-8588 for specific details and information)

? New Hires who make their 2000 elections by 10/16 will receive their 2001
packets the first week of
 November for enrollment during 11/8-11/15; elections not in by 10/16 will
require a manual enrollment
 for 2000 and 2001 and must be made within 31 days of their hire date

? Provider directories can be accessed directly from the enrollment 2001 web
site or - 1) link directly
 to the providers through the HR/Benefits Intranet Website or 2) go directly
to the source by logging
 on through the web at:

www.cigna.com        www.vsp.com
www.provider.uhc.com/enron     www.merck-medco.com


Start Date: 2/28/01; HourAhead hour: 7;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001022807.txt


The following is a letter dated today, November 29, 2001 regarding the
above referenced.  Immediate attention  <<Ltr Sitter and others
112901.doc>> requested.


Looks good to me.  Send it out as soon as the CA is signed.

Thanks,
Chris Hilgert
Enron Compression Services
Work: 713-853-7350
Cell:   713-857-2479
www.enron.com/compression

 -----Original Message-----
From: 	Druzbik, Lisa
Sent:	Monday, July 30, 2001 5:43 PM
To:	Higgins, Ned; Hilgert, Chris; Bieniawski, Paul; Vasquez, Miguel; Gregory, Paul; Wilson, Garry D.
Cc:	Nemec, Gerald
Subject:	Final Keystone Term Sheet
Importance:	High

Team,
Attached is the final Keystone Term Sheet proposal to Northern Natural Gas.  NNG is still in the process of having the CA signed.  As soon as the CA is signed by NNG (Tuesday at the earliest), the attached Term Sheet will be delivered to NNG by Ned Higgins.

 << File: NNG Keystone Term Sheet (July 30) II.doc >>

Thanks, Lisa Druzbik


Ann & Darla,

I am attaching a spreadsheet that details what should be booked and billed to Citizens under the NEW gas daily call option/transport deal to serve the Griffith plant.  It is somewhat complicated but don't be scared - I will help both of you understand what needs to be done.  Hopefully, we can set up a procedure whereby this deal can be taken care of each month.

I think we should set up a meeting to discuss.  Let me know when you guys are available - hopefully sometime monday.

Thanks,

Kim


---------------------- Forwarded by David W Delainey/HOU/ECT on 10/16/2000
12:11 PM ---------------------------

Dennis Vegas@ENRON_DEVELOPMENT
10/11/2000 05:25 PM
To: Joseph W Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mike
McConnell/HOU/ECT@ECT, Mark Frevert@Enron, Jeffrey A Shankman@ECT, David W
Delainey@ECT, Steven J Kean@ENRON_DEVELOPMENT
cc: Bill Gathmann/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Doug
Arnell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Henry
Means/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Gastech 2000 luncheon invitation - revised

From November 14-17, Houston will host Gastech 2000, one of the world's
largest international natural gas, LNG, and LPG conferences.  The conference
will take place at the George R. Brown Convention Center and is expected to
attract 3,000 delegates from around the world.

Enron has played a leading role in this conference for many years, and this
year we will participate as a sponsor and prominent exhibitor.  Several Enron
executives are speaking or moderating panels at the conference, including
David Haug, Bill Gathmann, Doug Arnell and Dr Lay.

On Wednesday, November 15, Ken Lay will serve as a keynote speaker at an
Enron Sponsored luncheon at 12:30 P.M. and we would like to invite you to sit
at the Enron table.  The dining room is located at the George R. Brown
Convention Center, Ballroom Level Three.

Please RSVP via e-mail or call me at 5-6442, or Hal Means at 5-5384 if you
have any questions.  Once we have the guest list finalized, we will provide
you with details on the location of the entrance to the dining room, a pass,
transportation/parking and other pertinent details.

Best regards


Hello, find attached:

1.  wine case.xls for those in Udpa's accounting class - cost data and Q1/Q2
2.  EMI case.xls for the marketing case - it has marketing data summarized

See you in class!

At 10:56 AM 2/11/00 -0600, Jeff_Dasovich@enron.com wrote:

>Ok, looks like the Orbit Room can't handle the size of our group so there's
>been a proposed change of venue for Saturday's meeting.  If anyone has
>alternative suggestions, feel free to propose.
>
>    Accounting discussion 10AM-11AM  (for Tues/Thurs folks)
>    Marketing discussion 11AM-Noon (for all)
>
>    Meet at my office.
>
>101 California Street (one block from the cable car turnaround)
>Suite 1950
>
>Enter at the California Street entrance
>Buzz at the door; guard will let you in
>Guard will know to enable elevator to get you to the 19th floor
>I'll keep the door to the office ajar so that folks can enter easily once
>on 19th floor
>
>Sound reasonable?  Did I miss anything.

 - Wine case.xls
 - EMI case.xls

Kimberly Kupiecki
Senior Account Executive
A&R Partners
kkupiecki@arpartners.com
(650) 762 2800 main
(650) 762 2825 direct
fax (650) 762 2801


Start Date: 4/14/01; HourAhead hour: 20;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in SC Trades schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041420.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 20 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_SPP
  ENGY_TYPE: WHEEL

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 20 / Preferred:  25.00 / Final:  24.97)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/14/01
  TRADING_SC: PGAE
  PNT_OF_INTRC: NP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 2
  DEAL_NO: 1


Marlan,

Where are you. All my people are coming in early to reconcile our names and I can't see an HR person anywhere. I was expecting to have spreadheets to check. None have been left.

Mark Pickering
Chief Technology Officer

Enron Net Works, LLC

  _____


Hey Brett,

What's been going on?  Been surfing the net lately and and ran across this .
. . pretty funny!

http://www.brettlawler.com


Hi there,

I've made some suggested changes on the CO you sent.  In the interest of time
I'm sending this to David Marshall, since this largely deals with ROL and
insurance, and I couldn't tell if he has read this previously.

Thanks,

Kay


Nada.

	Tana Jones
	07/13/2000 04:26 PM

		 To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Stacy E
Dickson/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT,
David Portz/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications
		 cc:
		 Subject: Allegheny Energy

One of the online team is looking for someone from Legal who is working with
(read "holding up things with") the Allegheny Energy people right now.  Any
of you got anything going on?


One of the things you should include in your report to Koenig and Frevert is
our preliminary views on the RTO filings.  Perhaps it's simply that we are
not going to be satisfied until FERC forces nondiscriminatory access and we
will object to every filing and fight every shortcoming.
----- Forwarded by Steven J Kean/NA/Enron on 10/16/2000 09:29 PM -----

	Donna Fulton
	10/12/2000 03:27 PM

		 To: James D Steffes/NA/Enron@Enron
		 cc: Christi L Nicolay/HOU/ECT@ECT, Dan Staines/HOU/ECT@ECT, Daniel
Allegretti/HOU/EES@EES, Janine Migden/DUB/EES@EES, Jeff Brown/NA/Enron@ENRON,
Jeff Dasovich/NA/Enron@ENRON, Joe Connor/NA/Enron@ENRON, Joe
Hartsoe/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Richard Ingersoll/HOU/ECT@ECT,
Richard Shapiro/NA/Enron@ENRON, Robin Kittel/HOU/EES@EES, Ron
McNamara/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Steve
Montovano/DUB/EES@EES, Steve Walton/HOU/ECT@ECT, Steven J
Kean/NA/Enron@ENRON, Susan J Mara/SFO/EES@EES, Thane
Twiggs/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tom Chapman/HOU/ECT@ECT, Tom
Delaney/Corp/Enron@ENRON, Tom Hoatson/HOU/EES@EES
		 Subject: Re: Enron Response to October 15 RTO Filings

I have now sent out the PJM filing to some of you.  If anyone else wants it,
let me know.

SPP is supposed to file tomorrow.  The same law firm is representing them so
I should be able to get a copy.  It may also be on their website tomorrow.


Need to watch closely
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


I spoke with Karen Lindley about volume not being allocated.  She said that
she passed it on to Fred Boas.

Daren J Farmer
02/21/2001 04:46 PM
To: Charlene Richmond/HOU/ECT@ECT
cc: Fred Boas/HOU/EES@EES, Melissa Graves/HOU/ECT@ECT, Karen
Lindley/Corp/Enron@ENRON
Subject: Re: Meter 5892

I have done deals with John at this point.  Why are we not being allocated
any volume?

D

Charlene Richmond
02/21/2001 02:59 PM
To: Fred Boas/HOU/EES@EES, Daren J Farmer/HOU/ECT@ECT, Melissa
Graves/HOU/ECT@ECT
cc: Karen Lindley/Corp/Enron@ENRON
Subject: Meter 5892

I am getting several phone calls from Alpine Resources demanding to be paid
for meter 5892 and there is nothing there to be paid.

The person name doing the requesting is John Childers and he said that he
spoke to Daren Farmer.  He is looking for 859 mmbtu's for December, 2000 and
3,251 mmbtu's for January 2001 .  This is on the Katy Gas Unit.  If anyone
would like to talk to John his phone number is 281-646-0232

Charlene
X31539


Hi Mel

Further to our earlier discussions here's the full list of actions we'd like
to put into place regarding Anjam's departure:

HR-type stuff:
1. Get Anjam off the trading floor as soon as possible.  There is no need for
him to remain on the floor.  This will need to be delayed until IT number 1
is completed (cataloguing his work).
2. Determine where Anjam is heading.  We need to know who is going to know
our positions and curves next.
3. Remove his security pass, and insist that he is always accompanied when in
the building.  Sharad is to sit with him while he catalogues his work.

IT-type stuff:
1. Ask him to catalogue the contents of his h: drive, since the rest of the
group will need to support his work in the future.  This should take no more
than a day or two.
2. Get IT to obtain their backups of Anjam's h: drive for weekly intervals
over the last two months.  This will allow us to determine what he has
deleted.
3. Get IT to provide a snapshot of Anjam's Notes folders, and provide records
of mail sent out to the internet over the last couple of months.  I'm worried
about code/data he may have zipped up and mailed out.
4. Ask IT to use a utility program to determine what has been deleted from
Anjam's c: drives.  There may be useful info here too.
5. Revoke all internet access, whether via Explorer or Notes mail.
6. Get a record of all files he has printed over the last couple of months.

Vince has OK'd this lot, so let's do it ASAP.

Many thanks,
Steve


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Please note  that this e-mail was sent to the following address:
sneal@ei.enron.com


Dear All,

Please find two attachments for the Central and Eastern European Committee.
If you have any difficulty at all in opening them please send me an e-mail
to let me know.

Regards,
Anna


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Vince,

Thanks for forwarding the resume.  We have generally had great success with
ex-Koch people.
He sounds might like he may be a good fit for Michael L. Miller in principal
investments.  At this point
I have very recently inherited two other stron VPs from EI and therefore will
probably focus on a few
Manager and Associates for the near term but I would like to keep James'
resume for further opportunities.
He sounds like someone we should at least meet with and figure out a spot
within Wholesale Services.
What do you think?

Regards,

-Larry-


It is okay to set Public Service Company of Colorado up to trade US East
power pursuant to the existing master agreement.  Noel, I'll leave it to you
to let Lance know that we are modifying their profile.

Please contact me at *36121 with any questions or comments.

Leslie


-----Original Message-----
From: Michelle Robinson [mailto:kkboers@hilconet.com]
Sent: Wednesday, November 28, 2001 10:47 AM
To: Mike Griffith
Subject: Fw: Satan

----- Original Message -----
From: "Sheila K. Robbins" <SRobbins@Bioassay.com>
To: "Michelle Robinson" <kkboers@hilconet.com>; "Debby L. Bell"
<bell4@bcsnet.net>; "Pat Savage" <PrSavage@aol.com>
Sent: Tuesday, November 27, 2001 2:56 PM
Subject: Fw: Satan

>
> ----- Original Message -----
> From: "Jennifer Tullous" <JTullous@wmgltd.com>
> To: <Alex4King@hotmail.com>; <Tullous@lewis.army.mil>;
> <Michelle.Tullous.HMBM@statefarm.com>; <Tom_Janell@the-CIA.net>;
> <JMTullous@yahoo.com>
> Sent: Tuesday, November 27, 2001 3:17 PM
> Subject: Fwd: Satan
>
>
> > Jennifer Tullous
> >
> > ----- Forwarded by Jennifer Tullous/WMG on 11/27/01 01:08 PM -----
> >
> > Satan
> >
> > A few minutes before the church services started, the
> > townspeople were sitting in their pews and talking.
> >
> > Suddenly, Satan appeared at the front of the church.
> > Everyone started screaming and running for the front
> > entrance, trampling each other in a frantic effort to
> > get away from evil incarnate.
> >
> > Soon everyone had exited the church except for one
> > elderly gentleman who sat calmly in his pew without
> > moving, seeming oblivious to the fact that God's
> > ultimate enemy was in his presence.
> >
> > So Satan walked up to the old man and said,
> > "Don't you know who I am?"
> > The man replied, "Yep, sure do."
> >
> > "Aren't you afraid of me?" Satan asked.
> > "Nope, sure ain't." said the man.
> >
> >  "Don't you realize I can kill you with a word?" asked Satan.
> > "Don't doubt it for a minute," returned the old man, in an even tone.
> >
> > "Did you know that I could cause you profound, horrifying, physical
> > AGONY for all eternity?" persisted Satan.
> > "Yep," was the calm reply.
> >
> > "And you're still not afraid?" asked Satan.
> > "Nope."
> > More than a little perturbed, Satan asked,
> > "Well, why aren't you afraid of me?"
> >
> >
> >
> > The man calmly replied, "Been married to your sister for over 48 years."
> >
> >
> >
> >
> >
> >
> >
> >
>
>


Jeff:

I did a final draft of the one-pager I sent you earlier. I am attaching it
here as it communicates the idea better. Please send along to whomever you
feel should recieve it and let me know when I can contact who & when. I will
be traveling on Friday am for 1 week.
Thank you.
Joe Alcantara

 - DearJeffreyIII.doc


Dan,

ENA and FGU currently operate under an interruptible agreement inherited
through the CES purchase.  FGU has interest in getting a GISB in place with
the attached provisions.  Could you please review and let me know you
comments.  I would like to complete this process quickly.

Jared
35823
---------------------- Forwarded by Jared Kaiser/HOU/ECT on 03/14/2001 02:29
PM ---------------------------

"Michelle Klein" <mklein@flgas.com> on 03/13/2001 01:27:11 PM
To: <jared.kaiser@enron.com>
cc:
Subject: GISB contract info

Jared,
As we discussed earlier today, FGU is interested in purchasing firm supply at
a fixed price for summer and/or winter.  Currently, Enron and FGU only have
an interruptible contract in place for supply purchases.  In order to get a
firm contract in place in a short amount of time, I think we should execute a
GISB contract if Enron is acceptable to that.  I have attached two word
documents to be implemented into the GISB contract.  One is FGU's general
information and the other is our special provisions.  Please have your
contract department implement the attached information into a GISB contract
and have it sent to me for review and execution.  If your contract department
has any questions, please have them call me at 352-334-0776.
Thank you!
Michelle

 - GISB SPECIAL PROVISIONS.doc
 - GISB-FGU.doc