Thanks Scott and Tana.

Tim

 -----Original Message-----
From: 	Scott Glass [mailto:sglass@foundrynet.com]
Sent:	Thursday, October 04, 2001 10:15 AM
To:	Jones, Tana
Cc:	Evens, Timothy
Subject:	RE: NDA - Foundry Networks, Inc.

Tana,

I'll get it signed and returned today.

Scott

____________________________________________
Scott Glass
Foundry Networks
Houston, TX
Office - 281-286-7680
Mobile - 281-851-5646
Fax -    281-286-0179
sglass@foundrynet.com <mailto:sglass@foundrynet.com>

-----Original Message-----
From: Jones, Tana [mailto:Tana.Jones@enron.com]
Sent: Wednesday, October 03, 2001 4:49 PM
To: sglass@foundrynet.com; harcourt@foundrynet.com
Cc: Greenberg, Mark; Evens, Timothy
Subject: NDA - Foundry Networks, Inc.

At the request of Tim Evens, I am attaching our proposed form of
Non-Disclosure Agreement.  If the enclosed meets with your approval,
please execute the agreement and return it to me via fax no. (713)
646-3490.  I will then have it executed by Enron.  If you have any
comments or questions please call Mark Greenberg, Senior Counsel, at
(713) 345-8897or me at (713) 853-3399.  We look forward to hearing from
you.

 <<foundry networks, inc..doc>>

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


Edie,
I have left the following (in part) on Roger Ondreko's voice mail last week.
Here is the wrap-up for the remainder of Q'4.

Chicago-/Origination/Hub/Trading - $1.7MM (down from $2.8MM)
 Two transactions have been terminated as follows:  1) QNT Management with
PGL/NS - Proceeds mark to market were to be $480,000 to Enron.  Due to recent
filing with the Illinois Commerce Commission on affiliate transactions, it
was deemed that this transaction may bring too much scrutiny to enovate.  For
2000, approximately 80% of business to PGL/NS are being transacted with
either ENA, EMW or enovate.  Net loss $480,000 mark-to-market with potential
accrual value in the $100,000 to $500,000 range.  2)  LS Power Plant - At
execution stage for fuel balancing for combined cycle power facility with
both Williams and LS who were both deemed as counterparties on transaction.
Williams' board of directors did not approve the purchase of facility and LS
has now sold to NRG (November 7, 2000).  Transaction now becomes a 2001 deal
with high probability of closure.  Net loss of 4th quarter mark-to-market
$1.5MM and accrual upside.  3)  Off-Balance Sheet Financing/Gas Supply
Receivable - Due to cash short fall for PEC, ENA was to extend $50MM of
receivables for 2 months under the ENA/PGL gas supply agreement through an
Enron Global Finance off-balance sheet vehicle.  ENA was to receive 200 basis
points of origination, netting $165,000 to Chicago, with no negative cash
flow or balance sheet implications to Enron.

Storage Monetization - Move to 1st Quarter 2001
 Peoples Energy received short term financing to get them through their end
of year cash flow issues, which pushes the transaction to 2001.  On the
positive, the Peoples Board of Directors approved capital spending for oil
and gas properties of $60MM for 1st quarter 2001 and our structure on the
monetization provides them competitive off-balance sheet financing.  Higher
gas prices in years 2 and 3 due to greatly diminishing backwardation in
Chicago basis and  Nymex have increased the value of the transaction
approximately $12MM in the past two weeks.   Value to Enron in 2001 $5MM to
$25MM.

The numbers must be looked at in entirety for Chicago and not broken down
Origination/Trading on the receipt to Houston.  The $1.7MM is the gross Enron
number for Chicago for 4th quarter, 2000.  In the $1.7MM, there will be
mid-market transactions and trading, with the trading number daily reflecting
the risk associated with a trading P&L.

In respect to the overall Chicago numbers, please ensure you are picking up
enovate books and Chicago origination which are granted via 1) central desk
2) EMW and 3) East Origination.

Please contact me if you have further questions or need further clarification.

	Edie Leschber@ECT
	12/12/2000 05:16 PM

		 To: Laura Luce/Corp/Enron@Enron
		 cc: Janet R Dietrich/HOU/ECT@ECT, Susan Helton/HOU/ECT@ECT
		 Subject: Hot List Items

Laura,
Just wanted to touch base on your Hot List Items for East Origination for 4Q
2000.
We currently still have listed the following:

Chicago - Hub Gas Management - 4 Deals $2,800,000
Manlove Storage Monetization  $10,000,000

To date, we have booked the following origination amounts:
October $141,555
November $ 90,786

Total  $232,341

Could you give me an update on the status of the $2.8 million gas management
items as well as the Storage Monetization?
(i.e. Do we still plan to make the $2.8 Million and is the $10.0 million
Storage Monetization still feasible for 4Q?)

Your input will be appreciated.

Thanks,
Edie


I understood the "validation" process to be a fairly flexible name applied to
a wide variety of approaches.  What we specifically discussed, and what scott
s. left prepared and committed to do, involved looking at individual curves,
the assumptions underlying them and some process (yet to be specifically
determined) for addressing updates.  We agreed to start with the top 20
curves and especially those which are involved in the upcoming deals.

I think the confusion is in what the term validation means.  In the ENA
context it means one thing; in this context it means what we discussed (which
was in Jim's memo and, as you'll recall, we went through point-by-point).
Let's just get this done.
---------------------- Forwarded by Steven J Kean/HOU/EES on 04/18/2000 05:10
PM ---------------------------

James D Steffes
04/18/2000 03:46 PM
To: Scott Gahn/HOU/EES@EES
cc: john Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David Gorte@ECT, Rick
Buy@ECT, Scott Gahn@EES, Jeremy Blachman@EES, Scott Stoness@EES, Karen L
Barbour@ECT, Steven J Kean@EES, Harry Kingerski@EES, Gia
Maisashvili/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Vladimir Gorny/HOU/ECT@ECT
Subject: Re: EES - RAC Deal Approval Meeting

Scott --

We should talk about what was agreed to at the meeting.

My discussions with others indicated that both (a) a curve validation process
and (b) a deal-by-deal review would be undertaken.  The deal-by-deal review
is especially critical during the implementation of a structured curve
validation process.  In addition, even when the curve validation process is
fully up and running, we should continue looking at major position impacts in
new transactions.  There are many curves to review.  It seems reasonable to
look at the critical rate curves as appropriate.

Let me know.

Jim Steffes

Scott Gahn
04/15/2000 07:25 AM
To: John Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: David Gorte@ECT, Rick Buy@ECT, Scott Gahn@EES, Jeremy Blachman@EES, Scott
Stoness@EES, Karen L Barbour@ECT, Steven J Kean@EES, James D Steffes@EES,
Harry Kingerski@EES, Gia Maisashvili/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: EES - RAC Deal Approval Meeting

In the interest of clarity:  It was agreed that ongoing curve validation
consistent with that followed on wholesale curves would be instituted.  It
was further agreed that certain information would be provided by Scott
Stoness to get this process going.  Such ongoing validation should make the
impractical deal-by-deal review described below both redundant and
unnecessary.

I assume the list below did not contemplate the type of curve validation
process we discussed and agreed to at the meeting.

To: David Gorte@ECT, Rick Buy@ECT, Scott Gahn@EES, Jeremy Blachman@EES, Scott
Stoness@EES, Karen L Barbour@ECT
cc: Steven J Kean@EES, James D Steffes@EES, Harry Kingerski@EES, Gia
Maisashvili/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: EES - RAC Deal Approval Meeting

As mentioned in yesterday's meeting, below are Jim Steffes' comments relative
to what information should be presented to Government Affairs when EES brings
a deal to RAC.
---------------------- Forwarded by John Neslage/ENRON_DEVELOPMENT on
04/14/2000 02:53 PM ---------------------------

James D Steffes@EES
04/09/2000 12:11 PM
To: Steven J Kean/HOU/EES@EES, Harry Kingerski/HOU/EES@EES, John Neslage
cc: Marcia A Linton/HOU/EES@EES

Subject: EES - RAC Deal Approval Meeting

I received word late last week that Dave Gorte (works for Rick Buy) is
setting up a meeting to discuss the process under which EES will have its
deals considered by RAC.

I think that we should argue that the following package of information be
pre-assembled and provided to Govt Affairs when EES brings a deal to RAC:

1. List of each position by utility and by rate class within the deal

2. Regulated Rate forecasts by utility and by rate class for each position in
the deal.  Not just the "scalars" but also the absolute $/Mwh.

3. For each impacted position, the key assumptions contained within the
curves -
 a. deregulation date (if any)
 b. stranded cost roll-off date (if any)
 c. standard offer end date (if any)
 d. other rate reduction dates and amounts (if any)

4. Revenue side or Cost side contract terms that impact the deal (for
example, movement in pricing terms given some event)

I also think that we should have at least 3 working days to review this
package.

If anyone can think of anything else that would ease our analysis, I would be
game.

Thanks.

JDS


Trecina 5-2624


---------------------- Forwarded by Bryan Hull/HOU/ECT on 11/17/2000 11:25 AM
---------------------------

Bill Kyle@ENRON
11/17/2000 11:15 AM
To: popo@tisd.net, skyle@gdhm.com, dick@tisd.net, erg@cox-internet.com,
juanito@ev1.net, libby@houston.rr.com, Daniel Diamond/HOU/ECT@ECT, Bryan
Hull/HOU/ECT@ECT
cc:
Subject: Fw: THIS SAYS IT ALL

---------------------- Forwarded by Bill Kyle/NA/Enron on 11/17/2000 11:14 AM
---------------------------

	From:  Kathy Mayfield                           11/17/2000 10:32 AM

To: pete@boernenet.com, Kenneth F Neely/HOU/ECT@ECT, Michael Harris/Enron
Communications@Enron Communications, Greg Grissom/Corp/Enron@ENRON, Kathleen
Sullivan/NA/Enron@ENRON, Kay Quigley/HOU/EES@EES,
eric.d.geisler@us.arthurandersen.com, "Morvan, Cole" <cmorvan@kpmg.com>, Bill
Kyle/NA/Enron@Enron, Carole Raulston Myer <cmyer@fwtxusa.org>
cc:

Subject: Fw: THIS SAYS IT ALL

---------------------- Forwarded by Kathy Mayfield/Corp/Enron on 11/17/2000
10:08 AM ---------------------------

Eric Thode
11/17/2000 10:23 AM
To: boberg@teppco.com, dwilliams@teppco.com, kbetts@teppco.com, Gina
Taylor/OTS/Enron@Enron, anelson@teppco.com, wnikolis@teppco.com, Kathy
Mayfield/Corp/Enron@Enron, Kathie Grabstald/HOU/ECT@ECT
cc:

Subject: Fw: THIS SAYS IT ALL

Enjoy...

---------------------- Forwarded by Eric Thode/Corp/Enron on 11/17/2000 10:24
AM ---------------------------

"Rick Sinclair" <rickedee@fbtc.net> on 11/17/2000 10:11:24 AM
To: "Paul Hawkins" <phawkins@splitrock.net>, "Remy Chiasson"
<rchiajr@worldnet.att.net>, "Paul" <pldavis@prodigy.net>, "Mom"
<knight-mm@juno.com>, "Lois Rausch" <lois.rausch@teamfinancialinc.com>,
"Lester Phipps" <lesterphipps@yahoo.com>, "Larry R. Davis"
<davislr@hotmail.com>, "Karie Cuningham" <cunninghamkarie@juno.com>, "George
Toly" <gjtoly@sierratel.com>, "Eric Thode" <EThode@enron.com>, "Dodie
Hutchison" <thefarm@fbtc.net>, "David Vieraitis" <DVieraitis@gseworld.com>,
"Corey Bobbitt" <c.bobbitt@worldnet.att.net>, "Chris A George"
<cgeorge@fbtc.net>, "Carol Milder" <carol@milderappraisalservice.com>, "Bo
Murray" <bosha2@fbcc.com>, "Allen LeBlanc" <allenleb@cajun.net>, "Alice A
Brase" <teachpkk@mctcnet.net>
cc:

Subject: Fw: THIS SAYS IT ALL

-----Original Message-----
From: Wood, Mark <mjwood@bechtel.com>
To: Squire, James <jsquire@bechtel.com>; Burke, James <jwburke@bechtel.com>;
'Beck, William' <william.beck@parsons.com>; 'Bloss, Randy'
<RandallWBlossR@aol.com>; 'Carter, Linda' <linda_carter@dell.com>; 'Dale
Ceren' <dale_ceren@ndequality.com>; 'Duplissey, Clyde'
<clyde.duplissey@parsons.com>; 'Evans, Mike' <evansm_gsg@compuserve.com>;
'Hoesel, Dan' <HOESEL10@AOL.com>; 'Jaloway, Tony'
<tony.jaloway@mustangeng.com>; 'Kennedy, John' <john.kennedy@jacobs.com>;
'King, Alan' <alan.king@lyondell-citgo.com>; Kirschbaum, Howard (GSG)
<103734.1664@compuserve.com>; 'Kuehl, Diana' <dkuehl@ctiw.com>; 'Klanika,
Troy' <ra4023@email.sps.mot.com>; 'Montieth, John' <JMont40771@AOL.com>;
'Neuberger, Thomas' <tneuberger@hunterspec.com>; 'Neuville, Hal'
<neuville_h@prosysintl.com>; 'Norine Jaloway (E-mail)' <njaloway@eden.com>;
'paucar01@crelco.com' <paucar01@crelco.com>; 'Pavelka, Randy'
<cpavelka@aol.com>; 'Pysell, Paul' <PFPysell@email.msn.com>; 'Rochelle,
Bill' <rochelle_b@prosysintl.com>; 'Rupp, Ken' <krupp@altec-intl.com>;
'Salter, David (Vera)' <friendshipfarms@datarecall.net>; 'Sansom, Theresa'
<tsansom@sgarch.com>; 'Shepard, Mark' <mark.shepard@jacobs.com>; 'Sifuentez,
Steve' <sqs2335@aol.com>; 'Sinclair, Rick' <rickedee@fbtc.net>; 'Wood, Mark
& Kenna' <markjwood@msn.com>
Date: Friday, November 17, 2000 09:03 AM
Subject: FW: THIS SAYS IT ALL

>
>> Subject: FW: THIS SAYS IT ALL
>>
>>
>>  <<JPEG File Interchange>>
>
>

 - bell512.jpg


APX's presentation about purchasing transmission rights over constrained
flowgates.  Discussed at Dynegy last week and to be presented to FERC on May
24 by APX.
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 05/18/2000
11:31 AM ---------------------------

"Edward G. Cazalet" <ed@apx.com> on 05/17/2000 07:06:11 AM
Please respond to <ed@apx.com>
To: <mado@dynegy.com>, <jdauphinais@consultbai.com>,
<David.a.cheshire@exxon.com>, <erobertson@lrklaw.com>, <KING@KMLAW.COM>,
<skroger@mdck.com>, <ringersoll@enron.com>, <cnicola@enron.com>,
<jhughes@elcon.org>, <janderson@elcon.org>, <mbennett@epsa.org>,
<pete.frost@usa.conoco.com>, <neil_compton@praxair.com>, <webstet@basf.com>,
<joe_marone@oxy.com>, <ed.marlovits@airliquide.com>,
<rpoponyak@cfindustries.com>, <srandazzo@MWNCMH.COM>, <MKSC@dynegy.com>,
<JJST@dynegy.com>, <JJHA@dynegy.com>, <"Kathy
Patton.Illinois_Power"@dynegy.com>, <jverna@apx.com>,
<gjramon.tecoenergy@dynegy.com>, <DNKE@dynegy.com>, <JJST@dynegy.com>,
<Christian_lenci@praxair.com>, <rday@apx.com>, <JDNE@dynegy.com>,
<VAPR@dynegy.com>, <pges@dynegy.com>, <DAKI@dynegy.com>, <chrm@dynegy.com>,
<GTBL@dynegy.com>, <james_fuhrmann@illinova.com>, <"Kevin
Shipp.Illinois_Power"@dynegy.com>
cc:
Subject: RE: Notes from May 11th LMP Meeting

Following up on the May 11 meeting, attached are:

1. The notes I used in the May 11 meeting.

2. A copy of the Feb 1 Public Utilities Fortnightly article.(zipped)

We will be working on a presentation at our TF# 1 meeting today in Houston.

Regards, Ed

========================
Edward G. Cazalet, Ph.D.
Chairman
Automated Power Exchange, Inc.
TechMart Building, Suite 522
5201 Great America Parkway
Santa Clara, CA  95054
Company Voice : (408) 517-2100
Direct Voice :(408) 517-2102
Cell : (408) 230-0560
Fax: :(408) 517- 2985
E-Fax (603) 687-5410
E-mail : ed@apx.com
Web Page: www.apx.com

-----Original Message-----
From: mado@dynegy.com [mailto:mado@dynegy.com]
Sent: Monday, May 15, 2000 2:52 PM
To: jdauphinais@consultbai.com; David.a.cheshire@exxon.com;
erobertson@lrklaw.com; KING@KMLAW.COM; skroger@mdck.com;
ringersoll@enron.com; cnicola@enron.com; jhughes@elcon.org;
janderson@elcon.org; mbennett@epsa.org; ed@apx.com;
pete.frost@usa.conoco.com; neil_compton@praxair.com; webstet@basf.com;
joe_marone@oxy.com; ed.marlovits@airliquide.com;
rpoponyak@cfindustries.com; srandazzo@MWNCMH.COM; MKSC@dynegy.com;
JJST@dynegy.com; JJHA@dynegy.com; "Kathy
Patton.Illinois_Power"@dynegy.com; jverna@apx.com;
gjramon.tecoenergy@dynegy.com; DNKE@dynegy.com; JJST@dynegy.com;
Christian_lenci@praxair.com; rday@apx.com; JDNE@dynegy.com;
VAPR@dynegy.com; pges@dynegy.com; DAKI@dynegy.com; chrm@dynegy.com;
GTBL@dynegy.com; james_fuhrmann@illinova.com; "Kevin
Shipp.Illinois_Power"@dynegy.com
Subject: Notes from May 11th LMP Meeting

From: Mary Doyle@NGCCORP on 05/15/2000 04:51 PM

To:   jdauphinais@consultbai.com, David.a.cheshire@exxon.com,
      erobertson@lrklaw.com, KING@KMLAW.COM, skroger@mdck.com,
      ringersoll@enron.com, cnicola@enron.com, jhughes@elcon.org,
      janderson@elcon.org, mbennett@epsa.org, ed@apx.com,
      pete.frost@usa.conoco.com, neil_compton@praxair.com, webstet@basf.com,
      joe_marone@oxy.com, ed.marlovits@airliquide.com,
      rpoponyak@cfindustries.com, srandazzo@MWNCMH.COM, Matt K
      Schatzman/NGCCorp@NGCCorp, John J Stauffacher/NGCCorp@NGCCorp, Kent
      Wheatland/NGCCorp@NGCCorp, Jolly Hayden/NGCCorp@NGCCorp, Kathy
      Patton@Illinois_Power@NGCCorp, jverna@apx.com, gjramon@tecoenergy,
David N
      Keane/NGCCorp@NGCCorp, John J Stauffacher/NGCCorp@NGCCorp,
      Christian_lenci@praxair.com, rday@apx.com, Joel
Newton/NGCCorp@NGCCorp,
      Vann Prater/NGCCorp@NGCCorp, Peter Esposito/NGCCorp@NGCCorp, Dan
      King/NGCCorp@NGCCorp, Chris Moser/NGCCorp@NGCCorp, Gregory T
      Blue/NGCCorp@NGCCorp, james_fuhrmann@illinova.com, Kevin
      Shipp@Illinois_Power
cc:
Subject:  Notes from May 11th LMP Meeting

For those of you who attended and for those of you who couldn't but are
interested in what transpired, I've attached notes from the meeting.  Thanks
for
all your interest.  We feel Thursday was a very positive meeting, but there
is
plenty of work ahead.

(See attached file: Notes from the May 11th LMP Meeting.doc)

  Mary J. Doyle
   Director of Regulatory Policy
   Dynegy, Inc.
   Phone: 202.216.1121
   Fax:       202.842.0122

 - Alternatives to LMP Notes EGC.doc
 - apx.zip


Read this if you want to be more depressed.

 -----Original Message-----
From: 	Roth, Jim
Sent:	Monday, October 15, 2001 2:05 PM
To:	Frevert, Mark; Whalley, Greg; Sherriff, John; Brown, Michael - COO London; Mcconnell, Mike; Shankman, Jeffrey A.; Gold, Joe; Shaw, Eric; Lewis, Richard; Staley, Stuart; Seyfried, Bryan; Lynch, Drew; Scrimshaw, Matthew; Gonzales, Eric; Harris, Clay; Botsch, Dan; Lawlor, Dave; Kean, Steven J.; Brindle, John; Jemmeson, Jamie; Chapman, Jon (London HR); Wantschek, Lloyd; Mead, Paul; Harper, Richard; Crilly, Peter; Hastings, Simon; Makk, Andrew; Johnston, Robert
Subject:	Increasing Washington Concerns over Potential Instability in Pakistan, India, and Saudi Arabia
Importance:	High
Sensitivity:	Confidential

In the wake of US and British military action in Afghanistan, Washington has become increasingly concerned about the potential for a major military conflict between Pakistan and India, according to a high level US intelligence official, and the control of nuclear weapons in the region is being monitored.  There is also fear for instability in Saudi Arabia, where little information is available about the capabilities and intentions of Islamic extremist elements.  Consensus opinion has been built in Washington that Iraq was involved in the 11 September terrorist attacks on the US, exacerbating fears that the situation in the region could spiral out of control.

According to a senior US intelligence official, US policymakers have become increasingly concerned about the prospects for instability in the Middle East and South Asia.  Washington is focused particularly on the potential for a major conflict between Pakistan and India, and intelligence officials are attempting to track the location and control of nuclear weapons in the region.  Secretary of State Powell's trip to the two countries, although portrayed publicly as part of the effort to ensure support for US military action in Afghanistan, is in fact intended to address tensions between Islamabad and New Delhi, which have grown in recent days.  (India shelled several Pakistani military outposts in the disputed Kashmir territory today; an Indian army general described it as a "punitive action.")

Washington is also significantly more concerned than media coverage would suggest over the potential for major unrest in Saudi Arabia.  This fear is heightened by a lack of detailed information available on the royal family's grip on power and the capabilities of Islamic extremist elements in Saudi Arabia, which share similar goals: removal of the Saudi dynasty, establishment of a true Islamic state, and the removal of the US military presence.  Saudi and US officials regard bin Ladin as one of the prime perpetrators of Islamic extremist violence in Saudi Arabia and elsewhere in the region.  Bin Ladin has been outspoken in his criticism of what he calls 'military occupation' of Saudi Arabia.  Unrest in Saudi Arabia could have a relatively dramatic impact on regional stability and the global economy because of its leading role both in the Arab world and in OPEC.

US government officials are now generally convinced that the Iraqi government played a role in supporting the 11 September terrorist strikes in the US.  The well-publicized difference of opinion between senior State and Defense Department officials over the handling of the Iraq question has been reported accurately in the media. Concern is growing within Washington that the situation in the Middle East could spiral out of control if Iraq were drawn into the military conflict precipitously, if major hostilities between Pakistan and India were to break out, or if the Saudi royal family's grip on power were to loosen.


Two of the three Commission-hired witnesses testified today -- Peter
Bradford and George Sterzinger.  While Bradford did nothing to really help
or hurt our cause, Sterzinger was amazingly helpful.  He practically
endorsed Enron's proposal.  He noted that it was the best design to elicit
strong conservation response by, as he put it, "grabbing hold of some of the
usage and making it responsive to the manipulation of the market."  The idea
was that customers would respond to the high prices which, are the product
of market manipulation, by reducing usage.  He focused alot on the
decremenatal usage credit and the incentive it would provide to conserve.
He proposed an alternative manner of funding in that the rebate would be
flowed back to customers as a bill reduction over an extended period of
time.  He also noted that he would implement the proposal as a voluntary one
(at least initially).

As to the other parties proposals, on cross, he expressed strong concerns
about shifting usage from peak to should peak (as that does nothing but
shift the peak period) and stressed that the Commission should carefully
examine any rate design which would have the potential to do such.  He also
testified that of the two forms of conservation being discussed in this
proceeding -- load shifting or load reduction -- the latter was far more
important and that the goal should be to lower energy usage at all times.

All in all, not a bad afternoon for our proposal.  His testimony appears to
have renewed interest in what was beginning to look like a nonstarter.

Tomorrow, the remaining Commission witness (Bornstein) is up.  Followed by
Bill Marcus for TURN, and PG&E witness Coyne.  The billing constraint
witnesses are up Thursday.  The hearing should conclude by noon on Thursday,
with briefs due noon on Monday.

Jeanne Bennett


Deborah,

This is the most recent email I have from Mark.  It gives an overview of the
project.  I'll check for other pertinent emails.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/06/2001 06:35
AM ---------------------------

Mark Bernstein@EES
03/16/2001 04:56 PM
To: Jeff Ader/HOU/EES@EES, Kay Mann/Corp/Enron@Enron
cc:

Subject: Co-op City Letter V.2

the latest...


Additional information on the delineators.  The delineator upgrades were installed with the exception of one console that had to be sent back for modifications.  The vendor understands the urgency and hopes to get it back quickly.

A separate issue which is not addressed in this update is the issue of the use of 31 day charts which are not able to be read by the delineators.  There was discussion of reverting back to 16 day charts but I do not know where that stands.

cvb

 -----Original Message-----
From: 	Cessac, Kenneth
Sent:	Thursday, January 24, 2002 11:18 AM
To:	Corman, Shelley; Neubauer, Dave; Hayslett, Rod; Anderson, Gary E.; Barnes, Caroline
Cc:	Thompson, Charlie; Hawkins, Don
Subject:	FW: Status - NNG PD chart processing

Please call if you have any questions.
Kenneth C.
x5-2989

 -----Original Message-----
From: 	Cessac, Kenneth
Sent:	Wednesday, January 23, 2002 1:44 PM
To:	Hawkins, Don; Thompson, Charlie
Subject:	Status - NNG PD chart processing

Listed below is the status of the different projects that were initiated to improve the processing of NNG PD charts.

1.	Upgrade the delineator's to support integration of 31 day charts plus setup a second delineator. - This work was completed on January 18th.

2.	Implement calculations within PGAS that will provide a flow-weighted daily breakout of index read PD meters.  PGAS was contracted to implement these equations mid December.  They are currently 65% complete with the development.  Estimate development and testing will be completed mid February and implementation into our system before February business close.

3.	Implement express-mail service at the field locations.  Currently working to setup an account with the US post office.  After this account has been setup, the postal service will need about 4 weeks to print labels.  Estimate March as the first month which express mail could be implemented.

Kenneth C.


COLUMBIA GAS TRANSMISSION CORPORATION
                        NOTICE TO ALL INTERESTED PARTIES
                                OCTOBER 17, 2001

Notice ID: 3188
5 - NO RESPONSE REQUIRED

SUBJECT: AUCTION OF FTS CAPACITY

Columbia Gas Transmission has posted the following offers of FTS capacity.

Additional details of this capacity may be found in the Columbia Internet
NAVIGATOR system under the Capacity Release Folder, Offers, Offers Summary,
Offer Type, Capacity Auctions, under the following offer numbers:

Offer      Rate        Receipt
 No.     Schedule       Point             Delivery Point

33843      FTS       Leach                Market Area 6
33844      FTS       Leach                Market Area 25
33845      FTS       Leach                Market Area 8
33846      FTS       AO5                  Market Area 36

33827      FTS       Lebanon              Market Area 1
33828      FTS       Leach                Market Area 5
33829      FTS       Kenova Agg           Market Area 5
33830      FTS       Lebanon              Market Area 6
33831      FTS       Leach                Market Area 8
33832      FTS       Kenova Agg           Market Area 8
33833      FTS       Leach                Market Area 8
33834      FTS       Leach                Market Area 9
33835      FTS       Leach                Market Area 10
33836      FTS       Leach                Market Area 10
33837      FTS       Leach                Market Area 12
33838      FTS       Leach                Market Area 15
33839      FTS       Leach                Market Area 15
33840      FTS       Leach                Market Area 19
33841      FTS       Alexander Agg        Market Area 32
33842      FTS       Highland             Market Area 38

For additional information, please contact your Account Representative or your
Customer Services Team.


CALENDAR ENTRY:	APPOINTMENT

Description:
	Terry K. - Oncall

Date:		11/11/2001
Time:		7:00 AM - 8:00 AM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


- execsummary.PDF


fyi

Mark,

Phil is acting Site Supervisor in place of George.  thanks
---------------------- Forwarded by Jeff Maurer/EWC/Enron on 06/27/2002 07:39
PM ---------------------------

Mark Fisher
06/27/2002 03:22 PM
To: George Griese/EWC/Enron@Enron
cc: Harvey Kaura/EWC/Enron@ENRON, Dan Lindquist/EWC/Enron@Enron, Hollis
Kimbrough/EWC/Enron@ENRON, Jeff Maurer/EWC/Enron@ENRON, Bo
Thisted/EWC/Enron@Enron

Subject: 1.5 SPC Analytic Desert Sky

Attached please find a new Statistical Process Control analytic which
displays the turbine performance for your site.  The report pdf is a summary
of the other two reports and delineates which turbines fall outside the 2
sigma line for each category.  The other two reports provide more detail
regarding the turbine performance including the degree to which a turbine
falls outside the 2 sigma line.

Please contact me if you have any questions.

Mark Fisher
(661) 823-6545


Attached is our Griffith nomination information for 03/26/02.

Please let me know if you have any questions.

Thanks!
MaryAnne

(See attached file: NOMS_03_26_02.xls)
 - NOMS_03_26_02.xls


Janet, get rid of these LM's - too many cooks!
Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 08/08/2000
03:39 PM ---------------------------

	Enron North America Corp.

	From:  Tammy R Shepperd                           08/08/2000 03:17 PM

To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Master Turbine Lists

As I mentioned to you earlier, there is much interest/concern about managing
the ENE portfolio of turbines, both from a balance sheet and a deal
perspective, as a result I've had numerous data requests in the last few
weeks including one today from RAC.

I thought you might be interested in the comment I have highlighted below, in
blue, regarding the LM6000's.

Tammy

---------------------- Forwarded by Mathew Gimble/HOU/ECT on 08/03/2000 05:22
PM ---------------------------

Fred L Kelly@ENRON_DEVELOPMENT
08/03/2000 03:09 PM
To: Mike Coleman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Dick Westfahl/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, fkelly@flash.net.com,
Dan Shultz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthew
Tezyk/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bill Williams@ECT, David
Parquet/SF/ECT@ECT, Wayne Mays@ECT, Mathew Gimble@ECT, Chip
Schneider/NA/Enron@Enron, Rick L Carson@ECT, Stephanie McGinnis@ECT, David
Gorte@ECT
Subject: Re: Master Turbine Listing

Thanks Mike - the effort underway (by RAC and EECC) is an overall Enron
turbine effort, to which the LM6000's are a subset.  Rick Buy must report to
Skilling and the board on the "long" turbine position....... thus the current
effort.  RAC and EECC have initated a more formal process where RAC will be
keeping a master list of turbines for Enron (like I am currently doing) with
input from EECC.  Dan Shultz's team will be plugged into that effort so we
don't have redundant list efforts going.

Matt Gimble's list looks very detailed and specific to the LM6000 effort - I
think some of his data will be benefitial to the Enron Master Turbine List.
I will ask that Mat Tezyk and Rick Carson/RAC to coordinate.

Additionally - I think Dan/Mat Tezyk have some turbine lists they are using
to track manufacturing and QA checks........, I don't think those lists are
intended to ever replace the Enron Master Turbine list.

Finally - Larry Izzo asked that Dan put a list together regarding the
LM6000's so that he (Izzo) could interface with ESA, ENA, and RAC.  I'm sure
that Dan could use Matt Gimble's list, overlaying ESA's needs (if they were
not listed).

In summary - If we have redundant efforts going - help me highlight them so
we can remove unneccessary work.

Thanks for the note!  F.Kelly

Mike Coleman
08/03/2000 12:16 PM
To: Dick Westfahl, Fred Kelly, Dan
Shultz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mall Tezyk, Bill Williams, Dave
Parquet, Wayne Mays
cc: Mathew Gimble@ECT

Subject: Master Turbine Listing

To avoid confusion, we should not have everyone generating separate turbine
lists.  Matt Gimble at ENA/Houston is sheperding a comprehensive list and is
setting it up at a site that everyone can access.  The current issue is
attached.  When Matt has the site location set up, I will notify you.

Thanks!

Mike
---------------------- Forwarded by Mike Coleman/ENRON_DEVELOPMENT on
08/03/2000 12:09 PM ---------------------------

Mathew Gimble@ECT
08/03/2000 11:25 AM
To: Mike Coleman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Master Turbine Listing

Mike,

The Master Turbine Listing contains the schedules that Tammy Shepperd and I
gathered together.
It includes an overal Turbine Inventory, Brian Hulse's LM6000 schedules and
an LM6000 Timing page.
The LM6000 Configuration is Ben Jacoby's schedule.

As soon as Tammy and I set up the protection on the Master Turbine Schedule,
I will send you its
location.

Thanks for all of your help and feedback,
Mathew


January 29, 2002
Enron lived 'on edge - sex, money, all of it'
The rise and fall of Houston decadence
Philip Delves Broughton
The Daily Telegraph, with files from news services
HOUSTON - Enron was a company in love with itself. Office affairs were rampant, divorce among senior executives an epidemic and stories of couples steaming up glass-walled offices after late-night meetings were the talk of Houston.
"It was insane," says a former energy trader, soothing her financial injuries with a margarita.
"There were no rules for people, even in our personal lives. Everything was about the company and everything was supposed to be on the edge -- sex, money, all of it."
The music has suddenly stopped. The startling demise of the energy giant has wiped out savings and pensions, destroyed careers and dragged the U.S. version of free-market capitalism into the interrogation room.
The reverberations of Enron's collapse will be felt for years in Washington and on Wall Street, but nowhere more than in Houston, the stage for Enron's gaudy act. From the mid-1980s, when Enron was created by the merger of two energy companies, Houston became its town. The company filled the void left by the oil companies, whose buccaneering days had ended with the collapse in oil prices.
In River Oaks, the most exclusive suburb of Houston, Enron executives began building huge mansions. Jeff Skilling, the executive who transformed Enron under the more genteel rule of Ken Lay, the former chief executive, decorated his house in black and white, Enron's corporate colours, from the marble to the sofas to the flowers, wallpaper and pictures.
The Enron wives became known around town for their Mercedes, fur-trimmed sweaters and leather pants.
But in the excitement, Enron lost touch with its mortality, not to mention morality. Mr. Skilling wanted it to become an alternative to the Wall Street banks.
He wanted to recruit the best, which meant persuading the leading business school graduates from places such as Harvard, his alma mater, and Stanford to choose Houston over New York or Silicon Valley.
He did so by creating the same culture of unselfconscious greed and reward that Wall Street was forced to suppress by the insider-trading scandals of the late 1980s. He built his own Bonfire of the Vanities in Houston and everyone wanted to feel its warmth.
Among the perks were the in-house health club and doctor's office, as well as laundry and car-washing services. Broadband traders were issued hand-held computers and wireless laptops, and frequently went on junkets to the Bahamas or hunting weekends in Mexico. Others accompanied Mr. Skilling to hike glaciers in Patagonia or race Land Cruisers in Australia.
One employee described how he got a 10% discount in a tony men's clothing store by mentioning he worked for Enron. Elsewhere in town, nightclubs waived cover charges for Enron employees.
But the work culture that employed these carrots was brutal.
Managers employed a system known as "rank or yank," with semi-annual reviews in which every employee's performance was ranked one to five. As the names flashed on a projector, the bosses graded them. The bottom 15% of workers were fired each year.
The pay was not particularly high -- trainees started at US$35,000, The Wall Street Journal reported. But they could double that when bonuses were added. Bonus day was known as Car Day, because of the line of expensive sports cars that arrived for the most successful employees -- US$100,000 Porsches were the vehicle of choice.
To the outside world, Enron described itself as a family for which employees were delighted to work punishing hours. Inside it became increasingly incestuous, sexually and financially.
Only those at the top and the traders who saw the kinds of wild bets Enron was placing, on everything from oil to the weather, saw how precarious the whole thing was. They began pulling out as much money as they could.
The best brains began demanding vast salaries to stay and, to save face, Mr. Skilling paid them. Then they asked for more. Senior executives began selling their shares in huge blocks. Everyone at the top was cashing out, while those further down believed the hype.
"We all thrived on the buzz," said Mark Lindquist, 39, a Web designer who lost his US$75,000-a-year job and is struggling to pay for his autistic son's treatment. "It seemed like we were part of something incredible."
He was one of the 4,500 let go after the company fell into bankruptcy on Dec. 2.
Now, not only the rank-and-file are hurting. Yesterday, Mrs. Lay said her family also lost its fortune.
In an interview with NBC's Today show taped over the weekend at her home in Houston, Linda Lay defended her husband as a decent, moral person who, like many thousands of others linked to Enron, was fighting personal bankruptcy.
"Other than the home we live in, everything else is for sale," she said. "We are fighting for liquidity."


Per David Forster, they should be doing the online trading simulation
tomorrow.


Lately there have been several questions concerning transmission purchases
from WACM or BCHA.  In order to access these OASIS Nodes we need to log on to
Trade Agent in Terminal Server.  The Trade Agent login is on the same menu as
Enpower and CAPS.  Open Trade Agent and log in using the EPMI Control Room
Certificate.   Trade Agent will then prompt you for the password.  Please see
me for the password.  You will then be able to access the OASIS websites and
schedule power across the rockies(Canadian or US).  The websites can be found
in Cara's emails concerning the Westpower scheduling database.
Please take the time to become familiar with this system.

Bill


Title: Drilling Activity Downturn Means Tighter Gas Supply
URL(s):

http://www.cera.com/eprofile?u=35&m=2808;

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

FALLING GAS PRICES TRIGGER ACTIVE RIG COUNT DECLINE

The economic downturn, lower industrial demand, moderate weather, and falling
gas prices have combined to hit gas-directed drilling activity hard. Gas prices
briefly fell below $2.00 per MMBtu in October. From a midsummer peak of 1,068
gas-directed rigs, the US industry active rig count plummeted to 834 by
November 9 and could fall as low as 700-750. Producers' drilling plans for the
2002 budget year are already being curtailed.

*  The drilling downturn could mean as many as 8,000 fewer gas wells in the
United States over the next 12 months and 1.5 to 2.0 billion cubic feet per day
of lost production.

*  The majority of the activity reduction is onshore, but the significant drop
in Gulf of Mexico shallow shelf drilling will have a huge impact on productive
capacity.

*  Gas supply could be extremely tight once again next year just as the economy
recovers, and gas demand is expected to rebound with it.

**end**

Follow above URL for complete report.

E-mail Category: Decision Brief
CERA Knowledge Area(s): North American Gas

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Brent Price and I will be in the London office next week, arriving Monday
morning and returning to Houston on Friday.  The purpose of my visit is in
regard to my Global Risk Management Operations role,   I believe that Rick
Causey met with you regarding some operations support that Brent and I will
provide to Fernley during a transition period prior to the arrival and during
the assimilation of Michael Jordan, the JP Morgan staffer that Fernley has
hired.  Brent and I will be working with Fernley next week to iron out the
details of our support for Fernley during that transition period.  We will
also map out an Enron trading operations introduction  for Michael Jordan,
which may involve a short stint for him in Houston.  My goal is to provide a
strong resource to Fernley during this transition period and to work with
Fernley to provide whatever assistance, training, and orientation to Michael
in his role so that his assimilation can be as smooth and effective as
possible.

Another purpose for the trip is to spend some time with Fernley and his
business controllers  to get their ideas on specific goals that as a group we
would commit to for 2000.  I know that Barry and Richard Sage have many good
ideas on how we can leverage knowledge and best practices across all Enron
locations with trading operations.  My earlier trips to London this year were
focused solely on Helsinki, and did not allow time to positively focus on
leveraging worldwide operations experience.  I value input from other trading
operations professionals and I look forward to the ideas that can be
generated in working with Barry, Richard and some of their direct reports.

I also contacted Tani Nath about my trip to see how I could support her as
she moves into her role in Global Products.  I have not heard  from Tani, but
I understand from others that she will be in the Houston office next week.
It will be unfortunate to miss her on my trip, but based on my commitments in
Houston and Rick Causey's desire to move forward on providing trading
operations support to Fernley, next week is the best for me to be in London.
I did meet with Tani for an hour when she was here week before last and
offered to help her in any way if she made the decision to accept the role
over Global Products.  I trust that she will contact me for that support as
needed.

I have scheduled a short meeting one on one with you while I am there to
discuss how my global role can provide support and resources for your
business efforts in London.  I look forward to meeting with you next week.

This trip is not a leg of the worldwide operations/control review that we are
conducting at Joe Sutton's request.   By circumstance, as you know, we have
taken a look at Helsinki and subsequently Oslo and Frankfurt.  There will be
a similar review of Continental power, UK gas, UK power and global liquids.
The review teams are currently focused on operations/controls reviews of
North American locations and some entities in the US in which Enron has a
large ownership position.  It is likely that the continuation of this effort
in London will occur in mid April.

Copies of the drafts of the findings for Oslo and Frankfurt were provided to
Fernley as soon as the team returned to Houston.  We hope to finalise those
drafts this week as we receive comments from Fernley and the business
managers in Oslo and Frankfurt to whom those drafts were provided.  Fernley
suggested that you would like to see the drafts as opposed to the final
copies, so I will have those forwarded to you today.  The Sydney and
Singapore trip was a lengthy one, as it also involved a last leg of the trip
in London with regard to support for SIngapore.  The Houston team returned
the middle of last week and worked with AA on an early draft last Friday.  I
can also provide you with a draft of that report, the completion of which was
pending input from Bill Bradford early this week (he made the trip but was
out of the office last week).  We did do a preliminary review of the Sydney
and Singapore findings with Rick Causey and Rick Buy on Friday afternoon, to
accommodate the fact that both are out on vacation this week.  They
understood the preliminary nature of the draft that was reviewed with them.


Enron's Lay Calls for Open Access to Transmission Grid: Comment
Bloomberg, 05/08/01

Enron Broadband Services President Plays Europe For Strong Bandwidth
Commoditization
PBI, 05/08/01

USA: Large U.S. firms finding inner-city profits-study.
Reuters English News Service, 05/08/01

Enron's Lay Calls for Open Access to Transmission Grid: Comment
2001-05-08 18:01 (New York)

     Washington, May 8 (Bloomberg) -- Comments by Ken Lay,
chairman of Enron Corp., the largest energy trader, on his belief
that generators should have easier access to the U.S. power grid.
Lay spoke after receiving the U.S. Energy Association's 2001 U.S.
Energy Award.

     ``Today we don't have open access to the transmission grid,''
Lay said. ``We could get 2 to 3 percent more power into the West
if we had open access.''
     Lay said the Federal Energy Regulatory Commission should open
up the power grid throughout the U.S., so generators no longer
have to pay a series of separate fees to move electricity from one
region to another.
     ``We clearly need non-discriminatory open access on the
grid,'' he said, adding that the FERC has the authority to open up
the power grid in the same way that natural gas pipeline
transmissions work.
     ``It's clear we've under-invested in energy infrastructure in
the last 10 to 15 years,'' Lay said. ``It's going to take a few
years to correct that.''

     Lay spoke a day after 96,000 electricity customers in
California suffered hour-long blackouts as high temperatures
boosted demand for power. It was the fifth day of electricity
cutoffs in California this year and more are expected.

--Amy Strahan Butler in the Washington newsroom, (202) 624-1835 or
astrahan@bloomberg.net/de

Enron Broadband Services President Plays Europe For Strong Bandwidth
Commoditization

2001-05-08 17:46 (New York)

By Mark Holmes

       Enron [ENE] in February launched online bandwidth trading
services in Europe. The massive Houston-based utility is hoping to
leverage its skills in other sectors, such as energy, to become a key
player in the European broadband market. In an exclusive interview with
Broadband Networking News, the President of Enron Broadband Services
Europe, Steve Elliott, talks about the broadband opportunity for Enron
in Europe.

       BNN: How do you view the bandwidth trading environment in
Europe? What would you say are Enron's competitive advantages in this
area?
       Elliott: Firstly, the bandwidth market in Europe is really in
its early stages of evolution from a traditional incumbent-based long
lead time, 'difficult to contract in' environment, into a much more
open, transparent, flexible ease-of-transaction type of environment,
but it is in a transition. It is by no means there yet. The local loop
issue aside, there is a number of ingredients that make the European
market attractive, for example, it has a more progressive approach to
commoditization than the U.S. and we have better metro-connectivity.
       Moving on to who Enron is: Enron is a market maker in all the
markets that we operate in. What I mean by a market maker, is that
Enron is the principle in all of the transactions that we do.
Completely different [from] a broker or exchange.  Because of the
combination of our Enron Intelligent Network, risk management services
and bandwidth intermediation skills, Enron is better placed than other
players to offer flexible and reliable solutions and at the same time
help companies to manage their risks. This is especially important in
today's environment. And because we transact in a different fashion
[than] traditional incumbents, we can also react quickly. For example,
we offer both traditional and Web-based transactions through our e-
commerce platform EnronOnline, where real-time pricing is displayed and
transactions can be completed in minutes.

       BNN: What are the implications of bandwidth commodization? How
do you see commoditization evolving?
       Elliott: It is key to create a critical mass of information and
players. It is also critical to have price transparency and
standardization of terms and conditions and levels of quality of
service. These are key elements in identifying the exact product and in
making transacting easier.
       All types of data networking are moving towards commoditization.
For example, today we have IP transport through to colocation and
storage. The future will see chips, media rights and even advertising
space being commoditized.  The days of long drawn-out negotiations are
really coming to an end. We are definitely seeing the end of best
efforts service in this marketplace.

       BNN: I was speaking recently to Duncan Lewis, president of
Ebone, who said that operators were spending around three Euros for
every one Euro of revenue they derived from selling bandwidth, and that
price erosion was "quite phenomenal." What are your views on that? How
does this bandwidth price erosion affect a bandwidth trading facility
such as Enron's?
       Elliott: There has been a phenomenal downwards movement of price
in this market. This is normal when you start to see the improved price
transparency that's out there. Initially, you do tend to have
reductions in prices, but ultimately markets are going to operate more
efficiently, allowing the suppliers to make money. In the long run, the
laws of supply and demand will prevail, and prices will settle at a
point where suppliers can make money. That's not to say that you won't
have periods of irrational behavior around pricing. There are a lot of
players suffering from the 'spending around three Euros for every Euro
of revenue' equation right now. And they will tend to act irrationally
at times. This tends to be short-term phenomena. In the long term,
prices tend to settle into the true cost of having to deliver service.
       From a trading standpoint, I don't see anything different here
from what we have seen in other markets, for example the gas and
electricity markets. This doesn't in any way jeopardize the viability
of having a traded or open market. Price volatility creates the
opportunity as it creates risk and this, in turn, creates the need for
risk management.

       BNN: Does bandwidth demand generate price decline, or vice
versa?
       Elliott: Prices have not come down because of bandwidth moving
towards becoming a commodity. That is not the driver. The driver is in
fact that you have an oversupply in the market right now. A lot of
people have over-invested in assets and are looking to get any sort of
return that they can.

       BNN: Will Enron have to evolve its broadband strategy if this
price erosion continues? Will you have to look to offer services like
dark fiber provision, duct space and colocation space in the future?
What will be the revenue generators for Enron in the future?
       Elliott: We offer all of those other services (commodities)
right now. When you say bandwidth trading, that is what it is commonly
referred as, but I view it as a series of commodities in the data
communications markets. Capacity, or bandwidth, is one. Colocation,
dark fiber, optical wavelinks, different levels of IP capacity,
storage, ultimately streams. These are all elements of the overall data
networking market. Each one of these products is being commoditized and
is ultimately moving towards a more open, robust market. We are an
active 'market maker' in each of those commodities, but we also re-
bundle them into different packages and structures that give our
customers whatever they need. That may be raw commodities, bundled
service offerings, price risk management capability around a customers'
commodity exposure.

       BNN: If we could talk about your content delivery business - you
recently terminated a deal with Blockbuster that would have given Enron
exclusive rights to deliver movies on a video-on-demand service. How
big a blow was that to your content delivery business? How do you see
this business developing in the European marketplace?
       Elliott: You are right, we are very much in the content delivery
business. We have developed a content delivery platform for video-on-
demand. We believe there has been a lack of an effective commercial
model to successfully migrate content to the broadband system, which is
technically reliable, scaleable and secure and have developed a
complete integrated service, including content management, aggregation
and distribution.
       Tests prove the platform is reliable and we are talking to
distribution companies to provide services to households via DSL, cable
and, later, satellite. In addition, we are also talking directly with
film studios and other content providers.

       BNN: Do you expect to see consolidation in the industry? Will
you look to make acquisitions to boost your pan-European operations?
       Elliott: We are always looking for value, whether it be in
assets or companies or physical positions. Clearly, prices for
companies in these markets have come down significantly and many of
them are at risk right now. I think you will see more of them fail. In
all markets where Enron participates in, we tend to own selected
physical assets. Sometimes we go about acquiring those through company
acquisition or some times through physical asset acquisitions.
Sometimes we develop a business from scratch.

       BNN: Enron is a massive Unite States utility with expertise in a
number of areas. What is the broadband opportunity for Enron in Europe?
       Elliott: The data networking market is an extremely large market
and is very appealing to us.  It also has the characteristics that
allow our business model to work effectively: a large market that is
operating inefficiently and undergoing fundamental change. We can take
this market towards a more open price-transparent environment, where we
can offer our core services of price risk management and creative deal
structuring...to give customers whatever they need.
       (Anita Cullen, Enron Broadband Services, +44-207-783-2384.)

FOR MORE INFORMATION on this or any other story from Broadband
Networking News, May 8, 2001, please call PBI Media, LLC's Client
Service Department at 800/777-5006.

USA: Large U.S. firms finding inner-city profits-study.

05/08/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, May 8 (Reuters) - America's largest corporations are finally
figuring out what inner-city and rural businesses have known for years,
profits can be found in their neighborhoods.
Several executives, including officials from Enron Corp. , Pfizer Inc. ,
American Express Co. , Union Bank of California , State Farm and Marriott
International , came together on Tuesday to promote a new study by the Ford
Foundation showing increasing participation and profits at 30 companies from
cultivating commercial activity in the country's poorest sections.
"Distressed rural areas and hardscrabble inner cities are transforming
themselves into some of America's most competitive places to do business,"
Susan V. Berresford, president of the Ford Foundation, said in a
teleconference.
But some, like Matthew Lee, executive director of Bronx, N.Y.-based community
and consumer group Inner City Press/Community on the Move, had few positive
things to say about corporations involvement in inner-cities.
Banks in particular, he said, only come into the poorest urban areas after
much prodding by his group and others advocating for the urban poor.
He added that Federal money is being siphoned off to subsidize the big
businesses at the expense of local initiatives.
Michael Porter, a Harvard Business School professor who studies inner-city
businesses, said that businesses that enter inner cities find success. The
average rate of growth at Inner-City 100 firms, a list compiled yearly by
inc. magazine, is 54 percent, he said.
Porter said inner-cities offer companies a central location, a large and
underserved market of consumers and businesses looking for commercial
services and a large and underutilized workforce.
Porter also declared the trend of businesses moving to the suburbs is
reversing, with many taking a new look back at cities.
But at the same time, "lingering perceptions that inner-cities are not a good
place to do business persist," Porter said.
Large corporations across all industries are beginning to make investments in
partnerships with community-oriented venture capital partners, investing in
promising inner city and minority-owned businesses, the report said.
"We're not doing this because it feels good. We're doing this because it
makes business sense," Jeffrey Skilling, the chief executive of Enron, said
in a release.
His company committed $20 million and raised another $20 million to make
equity investments in 19 different women-and minority-owned businesses in
Houston, according to Gene Humphrey, president and CEO of Enron Investment
Partners.
"We view this as a profitable and a for-profit venture," Humphrey said during
the teleconference.
San Francisco-based Union Bank of California found it was losing customers to
local check cashing shops and that an estimated 20 percent of all households
in the markets they served were operating "outside the banking system,"
according to Richard Hartnack, vice chairman with the firm.
After opening several branches in "very low income areas" and finding it
difficult to make a profit, the firm combined banking products with check
cashing services eight years ago, calling them Cash & Save.
The outlets have hit their profit targets, Hartnack said, and through 2003
they expect to build another 40 branches in addition to the 20 already
operating.

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.


Please move the box from Janie's desk to Randy's desk as soon as possible.  You will not need Janie's approval.

Thanks,
Mike


Lisa,

Here is the discussion draft of change order #3 for your review, comment,
changes, etc. Once it is finalized ENA would appreciate receiving a note
requesting that the change order be executed, with the change order
initialled by the appropriate person at ESA.

Thanks,

Kay


as per has mentioned to you, there have been a number o factors working
against us recently in obtaining insurance for the book.

i was expecting to have a positive response by tomorrow, but the person
responsible had a baby on saturday, so this may be delayed until later in the
week. (i had my computer with me in the delivery room for our first child, so
its possible, (but i didnt for the second)).

one unexpected factor is that aquila has signed exclusive arrangements with
some of the insurers who could have backed us.  these agreements prevent them
from doing business with us.

another primary market, ace, is still pissed at me for leaving and going to
enron, whom they consider a serious threat to their franchise.  this was
somewhat expected, and i am already starting the groveling process to get
them to transact with us.

another unexpected situation is the supply/demand imbalance.  given the fact
that forced outage insurance policies have paid out no more than a few
million in claims while collecting over $100 million in profits, the common
wisdom in the insurance industry was that supply would increase and demand
would decrease.  this year has surprised even me -- demand is as strong as
ever and supply has not increased.  this is evidenced by the much higher
margins we have collected on the few selected deals we have done.

we also got started too late in the season, so we did not have a sufficient
portfolio to attract insurance partners earlier.  i tried to build the
business too quickly from this position.

of course, my job is not to explain the reasons for things turning out
differently from what we expected.  the current problem is that i need to
hedge out our book in a difficult environment.

first, we agreed that we would take action on may 15 if we did not obtain
reinsurance by that date.  i have halted origination activity in this area,
which will result in the loss of ~75% of our business.  we are currently in
final negotiations on 4 transactions, which will then make up our final
portfolio for this year.  these are among the most profitable deals we have
seen this year and should be the easiest to hedge.  this will leave us with
$15 million in revenue and $250 million in total theoretical exposure (P99 =
$30 million).

second, we agreed that we would not be sitting on a "high gamma" risk going
into june.  i am still hoping that we get the insurance offer next week, but
if it is not in place by june 1, we will hedge the book in the underlying
commodity to gain time for placing the insurance.
this should buy us 2-3 more weeks to finalize the strategy without sitting on
significant risk.

this may also be the best time to talk about our newest hedging strategy.
when backed into a corner, and deprived of sleep (and food), i usually come
up with my best business ideas.  since ive had little of either for the past
2 months, i have been working with alex and larry to develop a generalized
hedging theory for outage risk.  without going into much detail here, the
idea is that there is a first derivative with respect to MW (i'm currently
calling it omega (w = watt)), which is comparable to the delta and gamma
hedging greeks.  on a single unit, this has no value, but for a portfolio,
you can compute this omega and apply a combination of static and dynamic
hedges to equalize your option position, much in the same way the
black-scholes formula hedges an option with respect to changes in the
underlying commodity.  for example, when you experience a single outage on
the system, you increase your position so that you are prepared for the next
outage.  our preliminary thoughts on this are that it can manage the tail
risk of a portfolio as well, if not better, than insurance.  the other
benefit of this approach is that it is much more consistent with the theory
used by all other traded books to manage risk.  it may also create an entire
new way of pricing unit-contingent power based on the hedging cost (just like
B-S is used to value options).  i'm not suggesting that this solves all of
our problems in the short term, but this development will be significant in
power trading.  i am working with tim belden this week to apply this theory
to the massive pacificorp deal, because it is the only way to effectively
manage that risk.  the total hedging cost using this approach should be less
than $30 million, compared to the offered premium of $140m.

we can talk about this on thursday, then i'd like to discuss with vince &
vasant to get their thoughts.


The following info was provided to me by Leah Moss at Tetco.

Meters 71979 and 71980 are on non-contiguous laterals.  Tetco doesn't know
how this gas flows.  They are still checking into this one.  It may actually
flow into CNG.,

Meters 72554 and 72803 are "normal" Tetco M2 meters.  This gas is a backhaul
to Winridge and Hooker [make sure you use the backhaul contract] and a
forwardhaul to Delmont and Oakford.  The forwardhaul fuel is 4.11%.


-----Original Message-----
From: Duncan Stewart [SMTP:DSTEWART@tnrcc.state.tx.us]
Sent: Thursday, August 31, 2000 1:09 PM
To: jfields@argentinc.com
Subject: RE: RE: Engines and GF Status

Jon, Here's the latest comment from Jim:
don't see why a test before the change and after the change using the same
analyzer would not demonstrate no increase in emissions.
DFS

>>> Jon Fields <jfields@argentinc.com> 08/29/00 08:38AM >>>
Duncan,
Ok.  We'll test an engine.  This project involves 5 identical engines.  We
want to test just one - will you accept that?  Will you accept portable
analyzer test results?  These analyzers have been certified by the state of
New Mexico to be plus/minus 3% from full trailer tests.
Thanks,
Jon

-----Original Message-----
From: Duncan Stewart [SMTP:DSTEWART@tnrcc.state.tx.us]
Sent: Monday, August 28, 2000 2:59 PM
To: jfields@argentinc.com
Cc: Jim Linville; James Randall
Subject: Fwd: RE: Engines and GF Status

FYI
>>> Jim Linville 08/28/00 02:21PM >>>
IF there is no increase in emissions, this is probably not a modification
and the Grandfathered status would remain.  They would need to demonstrate
that there is no change.  This could require testing before and after the
change.
>>> Duncan Stewart 08/28/00 01:43PM >>>
What say you all?


FROM BARBARA GRAY AND SHEILA TWEED

The ENA Legal Department will hold its Summer Happy Hour at Ninfa's on
Tuesday, August 15, 2000 from 5:30 pm to 7:00 pm.  Everyone in the Department
is invited.  Please come and welcome our new staff members and to thank Erica
Braden for all of her hard work and wish her well in her new position with
EBS Legal.  Please let Pat Radford  (ext. 39282) know if you will not be
attending no later than Monday, August 14th.  We look forward to seeing
everyone at Ninfa's.


Equity Trading is requesting an Executing Broker Agreement be set up for ECT
Investments, Inc. and Enron North America Corp with Deutsche Bank
Securities.  We do not have one currently in place and we have done a
significant amount of business with them in 2000  (included in top 10 for
8/2000 YTD in brokerage commissions).
Thanks. Sheila


FYI
----- Forwarded by Mark Taylor/HOU/ECT on 02/12/2001 06:46 AM -----

	Ruth Ainslie <RAinslie@isda.org>
	02/09/2001 02:48 PM

		 To: US REGULATORY COMMITTEE <USREGCOMM@isda.org>
		 cc:
		 Subject: FW: DRAFT SUMMARY OF S. 220 POINTS

At Stacy's request, I am forwarding a draft of the points drafted by Seth
Grosshandler and Ed Rosen of Cleary and Dan Cunningham.  These are the
points discussed at yesterday's Bankruptcy Reform meeting at TBMA.

 - Doc1.doc


Let me know if there is anything else I need to do to the breakout
agreements.

-----Original Message-----
From: Bill.Williams@enron.com [mailto:Bill.Williams@enron.com]
Sent: Monday, April 30, 2001 2:39 PM
To: Kay.Mann@enron.com; Dale.Rasmussen@enron.com; Thompson, Peter J.
Cc: THOMAS CONSTANTINE; Roseann.Engeldorf@enron.com;
lee.johnson@ss.ps.ge.com; michael.o.sandridge@us.abb.com;
karla.hesketh@us.abb.com
Subject: GE and ABB B/O contract: Assignment and Assumption Agreement

I heard back from ABB this morning.  Karla Hesketh (ABB) is checking to
see
if any comments came in on the Assignment and Assumption Agreement.  We
should have the GE ready to go if , according to Dale, Rose and Lisa's
Global Finance comments are in.  Lee Johnson has said he is ready to go
to
the office and sign for GE.

In the realm of a checklist that I am tracking for Jim Gilbert on the
EPC
contract owner required information being ready to go, these 2 documents
(E-Next B/O Contracts for LVCII on both ABB and GE; same for the
Assignment
and Assumption Agreements) are the keys to meeting our obligations.  All
other requirements are in place and on hold pending the trigger being
pulled on the tolling agreement and subsequent dash approval.

I am trying to coordinate for Dale as he is still in Denver, under sleep
deprivation.  Let me know how  I can help.

Regards

Bill W.
503-464-8958
503-704-9801 (cell)


We return to lending for Thursday:

STWBOM and STSW are each 25 mw short on peak at PV. This power was sold day-ahead at a price of $40.50. It will need to be procured in the hour-ahead market - 25 mw on peak at PV under each book. Then the power needs to be sold back to El Paso at $0 - 25 mw on peak at PV under each book. Deals are -

744503 - STWBOM buys EPE
	 On Peak/PV
	 25 mw @ $40.50

744505 - STSW buys EPE
	 On Peak/PV
	 25 mw @ $40.50

As always, let me know if you have any questions.

Thanks,
Kate


let's discuss what info might be helpful.
---------------------- Forwarded by Scott Neal/HOU/ECT on 10/23/2000 02:19 PM
---------------------------

Janet R Dietrich
10/20/2000 04:11 PM
To: Ben Jacoby/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT, Scott
Neal/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron
cc: David W Delainey/HOU/ECT@ECT
Subject: Activities in Florida

Hey guys, I spoke with Carol and told her we would have an overview for ENA
by next Friday. Could each of you e-mail me a brief summary of your business
in Florida- just give me a general idea of our level of involvement in your
market, general themes we might want to get across, hurdles, etc. Ben/Jim,
this may be a very good opportunity to have Kevin lay out our views/plans for
deregulation and power development, and what we would like to see the
Governor push in the state. Since Enron is in Texas (and the obvious
connection with the Bush brothers), if it's appropriate to use Texas
deregulation as an example/comparable with Florida, it might be interesting.
If I could get your responses by next Wednesday am, they would be great.
Thanks.
---------------------- Forwarded by Janet R Dietrich/HOU/ECT on 10/20/2000
03:52 PM ---------------------------

Carol Ann Brown@ENRON COMMUNICATIONS
10/20/2000 03:35 PM
To: James I Ducote/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT
cc:
Subject: Activities in Florida

Janet and Jim,

Kevin Hannon is attending a dinner and a breakfast meeting (November 8th and
9th) with Governor Jeb Bush in Florida.  At this meeting the Governor has
requested that the attendees give a three to five minute overview of their
company and its interests in Florida.  Kevin asked me to contact you two to
see if you if could please give him a brief update via email on ENA's
activities in Florida.

Thank you,

Carol Brown
Office of the Chairman
Enron Broadband Services, Inc.
713.853.7974
713.853.9469 - fax
carol_brown@enron.net


Good news for Body Shop members! The Body Shop will reopen Monday, January 7, 2002. While we recognize that the Body Shop is a tremendous asset to all of our employees' health and wellness, we must reopen it without an Enron subsidy. Therefore, the membership fee will increase from $25 to $30 per month for all Enron employees and contractors. Spouse memberships will remain at $15 per month. Locker fees will remain at $10 per month and members may keep their current locker. (If you emptied your locker after the Body Shop closed in December, please notify the Body Shop reception desk that you would like to reoccupy it.)
The overall price increase, coupled with reduced expenses, will enable the Body Shop to reopen and remain open on a cash-neutral basis to meet creditors' requirements. Payroll deductions will be reactivated with the January 15th payroll and will include the increased fee. If you do not wish to continue your membership, please contact the Body Shop to cancel your membership via email only at <mailto:Body.Shop@enron.com>.  Membership information and enrollment forms can be accessed below:

The Body Shop's new hours will be 6:00 a.m. - 7:00 p.m. Monday through Thursday, and 6:00 a.m. - 6:00 p.m. on Friday. Saturday hours are not offered at this time.
Although laundry service has been discontinued, towels will continue to be available for your convenience. Once the ongoing membership base and associated revenues have been stabilized to support staffing and housekeeping, exercise classes will be scheduled. We anticipate exercise classes to be available within a few weeks. Massage therapy services will continue and are available by appointment by calling extension 3-3047.
Whether you are a continuing member or considering new membership, there is no better time for you to take advantage of the Body Shop and to take care of your personal health and well being than right now, at the beginning of 2002.
Your continued support is greatly appreciated.


April 30, 2001
Notice Number:  01-143

TO:
ALL COMEX DIVISION MEMBERS AND MEMBER FIRMS
ALL NYMEX DIVISION MEMBERS AND MEMBER FIRMS

FROM:
Neal Wolkoff, Executive Vice President

SUBJECT:
Proposed Amendments to Supplement No. 1, &Official List of Approved Refiners
and Brands8 of the Gold and Silver Futures Contracts and Supplement No. 2
&Official List of Approved Assayers and Assayer/Refiners of the Platinum and
Palladium Futures Contracts

The Exchange proposes to amend Supplement No. 1, &Official List of Approved
Refiners and Brands8 of the Gold Futures Contract and Supplement No. 1,
&Official List of Approved Refiners and Brands8 of the Silver Futures
Contract.  The proposed amendments change the status of the gold and silver
brands produced by Golden West Refining Corporation Limited/Handy & Harman
Refining Group, Inc. to no longer produced by adding an asterisk (*) next to
the brand.  The Handy & Harman Refining Group gold brand and silver brand may
not be delisted since there are bars of silver and gold bearing this hallmark
on deposit in Exchange Licensed Depositories.

The Exchange proposes to amend Supplement No.2, &Official List of Approved
Assayers and Assayer/Refiners8 of the Platinum and Palladium Futures
Contracts.  The proposed amendments delists Golden West Refining Corp.
Ltd/Handy & Harman Refining Group Inc as an Approved Assayer/Refiner from the
Exchange,s Palladium Futures Contract and as an Approved Assayer for the
Platinum Futures Contract.  There are no assay certificates issued by Handy &
Harman Refining Group for platinum or palladium in any Exchange Licensed
Depository nor are there any platinum or palladium bars hallmarked by Handy &
Harman Refining Group.

The proposed amendments must be approved by the Commodity Futures Trading
Commission (&CFTC8) before becoming effective.  The Exchange membership will
be notified upon receipt of CFTC approval and the effective date of the
amendments.

A copy of the proposed amendments can be found at
http://www.nymex.com/refernce/notices/2001/ntm_143.htm

If you have any questions, please contact Albert J. Getz at 212-299-2608.

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

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(01-143)"

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


can you get me the rent check today?


----- Original Message -----
From: Dana Davis
To: wendykoeb@springisd.org
Sent: Thursday, October 25, 2001 6:56 AM
Subject: Candis' Rough Draft "Drug Free"

Candis has informed me that you are requiring a note from me in regards to me having her English paper yesterday.  This is true.  I forgot to give it back to her after making a copy for our files.  Thank you.

Mrs. Davis
(713) 853-7520


-----Original Message-----
From: 	Jackson, Brandee
Sent:	Friday, April 20, 2001 3:11 PM
To:	Heal, Kevin; McIsaac, Lisa; Hedstrom, Peggy; Spencer, Candace; Espey, Darren; Gilmore, Tammy; McOmber, Teresa; Adams, Jacqueline; Evans, Ted; Acton, Tom; Villarreal, Jesse; Franklin, Cynthia; Loving, Scott; Casas, Joe; Collins, Joann; Ordway, Chris; Allwein, Robert; Dinari, Sabra; Sanchez, Christina; Loocke, Kelly; Halstead, Lia; Pendergrass, Cora; Carter, Tamara
Cc:	Lamadrid, Victor; Sullivan, Patti; Kinsey, Lisa; Choate, Heather; Saldana, Alex; Superty, Robert
Subject:	On Call


Hello...Let me know if you want to go to the temple tonight...don't go on
Saturday...they had a 4 hour wait last week...but we'll get right thru
tonight...page me or call me...281-722-1659pager 281-444-2046home.

Curtis Swaringam
281-949-2500 ext. 4050
CSwaringam@carlson.com


Please find the new condensed Profile Template with updates color coded  in
Tangerine.

I have condensed the following Like Product Types
Sea Freight Fin Swaps (6 Product Types)
SG Financial Products (14 Product Types)
US Bandwidth Phy Products (7 Product Types)
US East Power Fin Knock Ins (3 Product Types)
US East Power Phy. (4 Product Types)
US Gas Phy Index Firm Flexible <1 Month Non-TX (3 Product Types)
US Gas Phy Index Firm Flexible >1 Month<1Yr  Non-TX (3 Product Types)  New
Addition
US Gas Phy Index Firm Swing Products <1 month non-TX (3 Product Types)
US Plastic FIN Swap (4 Product Types)
US Weather Fin. Products (4 Product Types)
US West Power Phy (5 Product Types)

In addition to the Bold Product listed above,  I have added the following:
US Pipeline Capacity Release

Please let me know if you have any questions or concerns regarding the above
listed modifications

Thanks,
Stephanie x33465


FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/16/2000
08:36 AM ---------------------------

"Philip Merrill" <garpny1@home.com> on 06/16/2000 08:17:03 AM
Please respond to <garpny1@home.com>
To: "Abe. Riazati" <Abe.Riazati@IIM-AR.COM>, "Alexander Vaninsky"
<vaninsky@yahoo.com>, "Andrew Katz" <ak47@pipeline.com>, "Andrew Maxwell"
<Andrew_Maxwell@infinity.com>, "Andrew Osterland"
<andrewosterland@cfopub.com>, "Andrew Porter" <andrew.porter@reuters.com>,
"Andy Anderson" <meriwether.i.anderson@fpc.com>, "Anthony. Capozzoli"
<Anthony.Capozzoli@bankofamerica.com>, "Baxter Gillette"
<BGillette@AmerenEnergy.com>, "Benton Brown" <babrowncfa@aol.com>,
"Bernard_Lee" <Bernard_Lee@infinity.com>, "Beth S. Daniel"
<bsdaniel@nucleuscorp.com>, "Bill" <WINY@dynegy.com>, "Bill Lacy"
<wlacy@peco-energy.com>, "Bob Anthes" <rjanthes@aol.com>, "Borris Ashavsky"
<bsa60@hotmail.com>, "Bryan Feierstein" <bryanf@mkirisk.com>,
"Carolyn_Loverro" <Carolyn_Loverro@infinity.com>, "CFA Maruti D. More"
<more@insync.net>, "Cheri Kalman" <ckalman@lucent.com>, "Chris Lewis"
<lewis@NetRisk.com>, "Christine Y. Zhao" <cy_zhao@hotmail.com>, "Cort
Shurtleff" <CShurtleff@DLBabson.com>, "David Hall"
<David_OXYUSA-HOU_Hall@oxy.com>, "David Routt" <dmroutt@hotmail.com>, "David
Rusate" <David.Rusate@corporate.ge.com>, "David Shimko"
<David_shimko@yahoo.com>, "David Stringfellow" <DStringfellow@eei.org>, "Dean
Kloner" <DKLONER@stroock.com>, "Diana P. Diaz"
<diana-diaz@reliantenergy.com>, "Dilip S. Kumar"
<dilip.s.kumar@us.arthurandersen.com>, "Don Muma" <don@axiomsl.com>, "Don
Stowers" <dstowers@watersinfo.com>, "Donna Jones" <Donna.Jones@enron.com>,
"Doug Hoffman" <hoffmde@texaco.com>, "Doug Pittera"
<douglas.pittera@wdr.com>, "Doyle_Robin" <doyle_robin@jpmorgan.com>, "Dwight
Cass" <dcass@watersinfo.com>, "Erik Helland" <eronya@hotmail.com>, "Frank
McEwan" <mcewanfa@ucarb.com>, "Giancarlo Ranzini" <ranzini@bci.it>, "Gordon
Goodman" <gordon_goodman@oxy.com>, "Gregory Marposon"
<Gregory.Marposon@reuters.com>, "H Brett Humphreys"
<Hbrett@cyberbuilding.com>, "Igor Bidny" <Igor_Bidny@summithq.com>, "Ihalasz"
<ihalasz@blackrock.com>, "Ira Kawaller" <kawaller@idt.net>, "J. Hinke (Jack)"
<jhinke@peco-energy.com>, "James Johnson" <jamjohnson@dttus.com>, "James P.
Crimmins" <crimmj@ms.com>, "Janie. J. Chen" <janie.j.chen@us.pwcglobal.com>,
"Janis_Elfving" <Janis_Elfving@infinity.com>, "Jason Taitt"
<taittj@hotmail.com>, "Jeffery Wallace" <jwallace@greenwichtreasury.com>,
"Jitendra D Sharma" <jitendra.d.sharma@us.arthurandersen.com>, "Jjohnston"
<jjohnston@qrm.com>, "JOEL S. STIEBEL" <stiebelj@bestweb.net>, "John Brabury
CPA" <bradbury@ppllc.com>, "John J. Janney" <jjanney@mnpower.com>, "John
Krueger" <kruegerJ@valero.com>, "John. Digenan"
<john.digenan@us.arthurandersen.com>, "Jon Freund" <jon.freund@fcbw.com>,
"Josh Kirschner" <josh_kirschner@standardandpoors.com>, "Josie Palazzolo"
<Josie_Palazzolo@infinity.com>, "Kelly Ardrey" <kelly.ardrey@funb.com>,
"Kelly Audrey" <kelly.audrey@capmark.funb.com>, "Ken Moll"
<kenneth.e.moll@us.arthurandersen.com>, "Kenneth King"
<Kenneth_King@swissre.com>, "Larry Darby" <LDarby@kayescholer.com>, "Larry
Schwarz" <schwarz@ppllc.com>, "Laurence Hitchens" <lhitchens@hotmail.com>,
"leslie Abreo" <leslie.abreo@kalotay.com>, "Lisa Williams"
<lisa.j.williams@us.arthurandersen.com>, "Marc F Wittmer"
<Marc.F.Wittmer@aexp.com>, "Marco Ossanna" <mossanna@bci.it>, "Maria Nordone"
<maria.nordone@gs.com>, "Mark Abbott" <mabbott@blackrock.com>, "Martin Kelly"
<martin.kelly@us.pwcglobal.com>, "Martin. A. Makulski"
<martin.a.makulski@ac.com>, "Michael Driscoll"
<michael.driscoll@centresolutions.com>, "Mike Parlapiano" <mikep@tibco.com>,
"Mike Smith" <msmith@bci.it>, "Mike. Kotzan" <Mike.Kotzan@wachovia.com>,
"Moy_Chan" <Moy_Chan@manulife.com>, "Nancy Merola" <meroln@texaco.com>,
"Paige Grumulaitis" <pgrumul@enron.com>, "Pamela Jasper"
<pamela.jasper@gs.com>, "Paul Vedova" <pvedova@hotmail.com>, "Peter Casanas"
<Ppc29@aol.com>, "Peter Connors" <peter.j.connors@bakernet.com>, "Ph. D.
Joshua Musher" <jmusher@bkb.com>, "Rajesh Mirpuri" <raj@askari.com>, "Randy D
Wilson" <rdwilson@kpmg.com>, "Randy Katzenstein" <RKatzenstein@refco.com>,
"Richard McMahon" <RMcMahon@eei.org>, "Rick Rexon" <rexon@us.ibm.com>, "Rita
Previtali" <rprevitali@Oppenheimerfunds.com>, "Robert A Krizner"
<rkrizner@kpmg.com>, "Robert Cataldo" <RCataldo@Aegonusa.com>, "Robert Lally"
<lallyr@aegislimited.com>, "Robert M Traficanti" <rmtraficanti@fasb.org>,
"Robert McDonough" <exactmerob@mindspring.com>, "Robert McLaughlin"
<rmclaughlin@evw.com>, "Robert P Sullivan"
<robert.p.sullivan@us.pwcglobal.com>, "Roger Beckwith" <RBeckwith@ggfp.com>,
"Roger Pearson" <rogermp@us.ibm.com>, "Ron Baker" <rbaker3@enron.com>, "Ron
Frisk" <FriskR@Valero.com>, "Rudy Henkel" <Rudy.Henkel@cibc.com>, "Sajjad
Rizvi" <lima@flash.net>, "Santa Marletta" <s_marletta@hotmail.com>, "Stephen
T. Haynes" <sthaynes@aep.com>, "Steven Berley" <steveberley@shellus.com>,
"Steven Carlson" <carlssa@texaco.com>, "Steven. J. Lerit"
<Steven.J.Lerit@chase.com>, "Sudha Yerneni" <syerneni@blackrock.com>, "Susan
Mangiero" <Susan.Mangiero@corporate.ge.com>, "Tess Chi" <tchi@dttus.com>,
"Thomas Schimelpfenig" <TSchimelpfenig@eei.org>, "Thomas_Traub"
<thomas_traub@prusec.com>, "Tim. MacDonald" <Tim.MacDonald@bos.frb.org>,
"Todd A Johnson" <Todd.Johnson@reuters.com>, "Tony Blinfanti"
<belinfar@ucarb.com>, "Vice-President Mark Williams"
<MarkW@CitizensPower.com>, "Vince Kaminski" <vkamins@enron.com>, "Vipul
Kadakia" <vipul.kadakia@db.com>, "Wayne Caviness" <acaviness@kpmg.com>,
"Wilfred Romero" <Wilfred_Romero@swissre.com>, "Young Lee"
<ylee@summitbank.com>
cc:
Subject: FAS 133 Amendments Available For Download

The standard is now available on the FASB's website until 6/30.

Go to HTTP://fasb.org click first Financial Accounting Standards Board click
first item FAS 138 on FASB home page.


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Itron has the technology and industry knowledge it takes to deliver an
advanced and automated solution. Visit us at the CIS Conference to learn more
about the MV-PBS Billing and Financial Settlement System, the industry proven
solution for the critical needs of large revenue customer billing and
financial settlements.

www.itron.com
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Are you looking to invest in, attract investors for, provide services to or
understand the business and technology dynamics of the hottest companies
emerging in the energy sector?   Attend the Energy Venture Fair, June 25 &
26, 2001, in Boston, MA and hear CEOs from 75 hot energy companies present
their business plans.  Complete event description available at
www.energyventurefair.comor call Nannette Mooney at (818) 888-4445, ext. 11.

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"Global Power & Western U.S. Coal:  Domino Factors at Play in Today's Energy
Markets" is the theme of the 2001 Spring Pacific Coal Forum (Coal Forum'2001)
to be hosted by the Western Coal Council, June 4-6, 2001 in Park City, Utah.
Keynote Speakers include: Honorable Mike Leavitt, Governor, State of Utah;
Hitoshi Tagawa, Tokyo Electric Power Company; Eng. Jesus Buentello, Comision
Federal de Electricidad; Malcolm Thomas, Kennecott Energy Company; Manfred
Raschke, International Strategic Information Services (ISIS).
Contact Janet Gellici at (303) 431-1456 or info@westcoal.org
www.westerncoalcouncil.org.

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May 17, 2001

Presidents Bush (Former and Current) Speak on Energy Issues

By Will McNamara
Director, Electric Industry Analysis

[IMAGE]Introduced and sponsored by LODESTAR Corp.'s CEO Chris Hamilos,
President George Herbert Walker Bush delivered the keynote presentation this
morning at the 25th Annual CIS Conference being held in Albuquerque, N.M. The
41st president of the United States spoke mostly from a personal perspective
about the highlights of his illustrious business and political career, and
reiterated his strong support for his son, President George W. Bush, whom he
affectionately refers to as "43" (as in 43rd president).

The former President Bush made it clear that he is now enjoying his
retirement and avoids making public statements regarding political policy.
However, the former president did field questions from the audience regarding
a few energy issues and acknowledged the parallels between the issues he
faced in his administration, and those that are presently challenging his
son. Much of the buzz throughout the conference focused on the current
president's just-released energy task plan, a 165-page report that outlines
approximately 105 steps that the new administration will take to address
current energy problems.

Former President Bush recalled the Gulf War and how one of the key issues
during that time was ensuring energy supply from Saudi Arabia. The former
president acknowledged that he felt compelled to launch the battle against
Saddam Hussein, who threatened the energy supplies needed to serve the world.
Further, President Bush referred to the political challenges he faced in his
presidency, during which time a predominantly Democratic Congress "that saw
the big picture issues in a different light" often made it difficult to find
common ground.

The former president made only brief (but rather significant) references to
his son's new energy policy. Having talked with Vice President Dick Cheney
last evening, former President Bush said he was aware that the new,
broad-based plan focused heavily on new supply, along with secondary measures
for conservation efforts. This is an approach that the former president fully
supports as he noted that "if you want to lower energy prices, you need to
establish more supply." In addition, the former president offered that
additional drilling efforts, an element of the plan that has sparked a great
deal of controversy, "has to happen" if the nation is truly committed to
increasing supply. However, former President Bush did suggest that the nation
must be patient as it will take "several years" to see any significant
decrease in energy prices as economic forces must be allowed to support new
development efforts.

Meanwhile, the energy task plan released by the current President Bush this
morning holds few surprises but continues to spark a great deal of debate. As
expected, the administration supports efforts for increased drilling of oil
in Alaska's Arctic National Wildlife Refuge, easing of clean-air rules that
should support increased power plant production and streamlining the permit
process for oil refinery expansion and construction. These platforms have
been in place for months and form the foundation for the energy plan.

However, new elements of the plan that have emerged just within the last few
days are raising the most eyebrows. For instance, the extent to which nuclear
power factors into the administration's energy plan is perhaps greater than
was previously anticipated. Specifically, the Bush plan proposes the
extension of the life for aging nuclear plants and the use of so-called
"breeder reactors," which use spent nuclear fuel. Breeder reactors, although
rather common in Europe and Japan, have not been used in the United States
since the 1970s, when it was discovered that the reactors tend to produce
nuclear weapon-grade plutonium as a by-product.

Other key elements of the plan include:

Providing eminent domain authority to the federal government, which would
supersede states' rights to approve new transmission line capacity.
Expediting the license procedures for hydroelectric and geothermal plants.
Streamlining the approval process for power plant siting, and speeding up the
relicensing requirements for nuclear plants.
Drafting legislation to cap emissions of nitrogen oxide and mercury, which
are common by-products of coal-fired production. In turn, the Bush
administration supports exploring new clean-coal technologies, which should
increase production by coal-fired generating plants.
A further study of the current restrictions put into place by the Clean Air
Act, which presently limits the production at oil refineries and power
plants. The issue here is whether or not such restrictions should be lifted
or reduced so that additional oil and power production can be pursued.

As has been the case since the start of the new administration, the
continuing criticism of the new Bush plan is that it is overly specific and
strong on new supply efforts, while remaining vague and noncommittal to
conservation efforts. However, the specific conservation proposals in the
energy plan include providing consumers $4 billion in tax credits through
2007 to encourage the purchase of high-mileage, gas-electric hybrid vehicles.
In addition, President Bush has proposed providing tax benefits to
co-generation plants, which produce both heat and electricity. Others,
including the current president's father, might argue that conservation
efforts have received just the right amount of attention in the new plan as
market forces (high prices) already are driving renewed conservation across
the country.

Just as former President Bush faced a predominantly Democratic Congress that
often thwarted his policy measures, the current President Bush continues to
buck heads with Democrats in Washington who are crafting their own energy
plan. In fact, just two days ago, a group of House Democrats led by House
Minority Leader Richard Gephardt (D-Miss.) outlined a plan that calls for
increased oil drilling and building new pipelines to transport natural gas
(both of which run rather parallel to the Bush plan). However, Democrats have
focused more heavily on conservation efforts in their own plan, as
illustrated by a series of tax incentives to help consumers build energy
efficient homes and purchase hybrid gas and electric automobiles.
Consequently, the energy issues continue to sharply divide the two parties,
although in reality there may enough commonality among Republicans and
Democrats to support cooperation in Congress. That cooperation may be
necessary as Congress must approve President Bush's energy plan in order for
it to take effect.

TOMORROW: Summary of CIS Conference and analysis of key IT issues facing the
energy industry.

An archive list of previous IssueAlerts is available at
www.scientech.com

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Copyright 2001. SCIENTECH, Inc. All rights  reserved.


Attached is a memo outlining key aspects of the recommendation issued by the assigned Administrative Law Judge in the above-referenced case.  The recommendation is now before the full Commission, which we expect will rule by mid-October.  Please call me if you have any questions.


Transwestern had 11 releases during the period 11/15-12/15/00.  None were
above max. rate.  All were at max. rate.

El Paso had several dozen releases during this period in the CA zone.  All
but 5 are listed as straight max rate deals.  Five have a fixed rate which
are also within +/- 1 cent of the max rate (assumably for surcharge related
reasons).

---------------------- Forwarded by Shelley Corman/ET&S/Enron on 12/13/2000
12:34 PM ---------------------------

Shelley Corman
12/13/2000 11:23 AM
To: S

Subject: Additional Arguments for Enron's Gas Cap Response

Premise: FERC should investigate the utility decisionmaking that led the
Califonia market to the point of excess gas demand, rather than rush to
impose gas price caps.

Utilities had ample opportunity to fill up storage last summer, but most
likely choose not to for price reasons.

Transwestern had at least a 100 M/D of available capacity to Califonia and to
the SoCal Needles delivery point through July 2000.

 Avg. Scheduled (compared to 1.1 Bcf/D capacity): April  780
        May  820
        Jun-Jul  980
        Aug  1050
        Oct-Dec 1080 (essentially full)

During the period April-Jul, TW was able to deliver up to the full 750 M/D at
Needles, but on many days SoCal gas instituted "windowing," lowering the
ability to take at Needles to 680-720 M/D.  SoCal's argument was that they
didn't believe that there was sufficient demand to run at the 750 M/D level
(even when TW had nominations of 750 M/D).

El Paso was also not full to Califonia until the last month.   At all times
El Paso  had available capacity at PG&E delivery points.  During the pipeline
outage El Paso was limited in their ability to fully deliver to the North
SoCal delivery point.  However, they were not full for deliveries to SoCal at
the south system delivery point.

2.    Utilities have opposed pipeline expansions to California

Sempra protested Transwestern's 140 M/D Gallup expansion, arguing that there
is no need for new capacity (CP99-522).

Sempra has also protested Questar's application to convert an oil line to new
gas pipeline service to California (S. Trails Expansion).


Hi Jim-

Will be back first thing Monday AM and will come up then...I came up b/f I left and saw some piles, but I didn't want to rifle through everyone's stuff.

Thanks,
Suzanne

-----Original Message-----
From: Steffes, James D.
Sent: Wed 12/26/2001 10:13 AM
To: Calcagno, Suzanne
Cc:
Subject: Gas FERC Matters

Suzanne --

When you get back from the Holidays, please stop by 47 and help go through the Gas cases Becky had intervened in.

Thanks,

Jim