"Roy J. Shanker" <royjshanker@worldnet.att.net> writes to the
NYISO_TECH_EXCHANGE Discussion List:

Not to be argumentative, but we all pay for studies done by the ISO for
various purposes such as interconnect etc. The rules as I understand them is
that things get posted and provided to everyone at the same time for all of
these studies. If there is a policy or process that is outside of this
structure that's fine, but I would like to know about it, and ask the ISO to
explain how that works so others can avail themselves of the same
opportunities for ISO studies that can be provided on an "advance" basis.

Roy J. Shanker
9009 Burning Tree Road
Bethesda, MD 20817
301-365-3654
301-365-3657 FAX
royjshanker@worldnet.att.net

-----Original Message-----
From: owner-nyiso_tech_exchange@lists.thebiz.net
[mailto:owner-nyiso_tech_exchange@lists.thebiz.net]On Behalf Of Palazzo,
William
Sent: Wednesday, April 25, 2001 7:17 AM
To: 'market_relations@nyiso.com'; nyiso_tech_exchange@global2000.net
Subject: RE: NYPA study-Winter Locational ICAP requirements

"Palazzo, William" <William.Palazzo@nypa.gov> writes to the
NYISO_TECH_EXCHANGE Discussion List:

In response to Roy's comments.  NYPA is paying for all the work conducted by
the ISO staff.  NYPA defined the study objective and all the ISO staff did
was conduct the MARS studies and document the results in the write-up we
provided to the tech exchange.

-----Original Message-----
From: Roy J. Shanker [mailto:royjshanker@worldnet.att.net]
Sent: Tuesday, April 24, 2001 7:35 PM
To: market_relations@nyiso.com; nyiso_tech_exchange@global2000.net
Subject: RE: NYPA study-Winter Locational ICAP requirements

"Roy J. Shanker" <royjshanker@worldnet.att.net> writes to the
NYISO_TECH_EXCHANGE Discussion List:

As a separate item to the concerns I had about the technical content, I was
a little confused on what was done here administratively. The last paragraph
says something about NYPA sharing the study. I didn't think they had
anything at all to say about it in the first place if it is an ISO work
product. If they do, could you explain why this is the case? If the ISO did
this, why wasn't this all posted on the OASIS at the same time NYPA got
this? The date on this shows a March 26 release.  Ignore these comments if
this was done, but I wasn't aware of this.

I am more than a little uncomfortable with a single market participant
having a month's lead time on ISO studies that can have significant
commercial impact. Think about the implications of this in the context of
people negotiating long term bi lateral ICAP agreements over the last month.
Depending on your take on the type of market changes that this type of
analysis might support, there could be enormous changes to the economics of
seasonal versus annual agreements, choice of equipment etc. This simply
isn't fair. Even if posted, this type of work by the ISO that can have large
potential commercial impacts should go out on all of the distributions at
the same time as release to anyone and OASIS posting.

Roy J. Shanker
9009 Burning Tree Road
Bethesda, MD 20817
301-365-3654
301-365-3657 FAX
royjshanker@worldnet.att.net

-----Original Message-----
From: owner-nyiso_tech_exchange@lists.thebiz.net
[mailto:owner-nyiso_tech_exchange@lists.thebiz.net]On Behalf Of Palazzo,
William
Sent: Monday, April 23, 2001 3:42 PM
To: 'nyiso_tech_exchange@global2000.net'
Subject: NYPA study-Winter Locational ICAP requirements

At NYPA's request ISO staff conducted a limited analysis of
the winter locational ICAP requirements for Long Island and New York City
areas.  While such ICAP requirements have historically been set as a single
number for the entire year, it is NYPA's belief that this holdover from the
old way of doing business must be re-examined.  It is NYPA's belief that
most if not all of the contribution to loss of load risk occurs in the
summer months.  As such, some reduction in winter ICAP requirements should
be possible with no impact on the Loss of Load criterion of one day in ten
years.

NYPA requested that the ISO start with the database that
resulted in the locational requirements of 80% and 98% for New York City and
Long Island, respectively.   At NYPA's request the ISO modeled winter
ratings on the transmission interfaces into NYC and LI and determined how
much the 80% and 98% could be reduced in the winter before any impact on the
statewide Loss Of Load  occurred.  The report indicates that winter
requirements of 75% and 92% of the summer peak load resulted for NYC and LI,
respectively.

While this in no way reflects an exhaustive analysis of winter
locational requirements, the results from this study suggest that some
reduction in the winter         requirement may be warranted and a
consideration of seasonal requirements should be incorporated in future ICAP
requirement studies.   NYPA believes that       having an ICAP requirement
for summer and winter seasons based on the LSE's peak load for the
respective season would send the proper ICAP price signal.

NYPA is sharing the study results in the attached report in
an effort to begin a dialog which we hope will lead to a broader examination
of locational requirements when the issue is revisited again next year.  We
would appreciate hearing the views of other market participants.

<<NYPA_LR_wint.PDF>>  <<TRAN_SYS_001129.PDF>>


Rhonda:
Does Attachment A to the Select EEI Master need to be updated or is the
version that you sent to me the current version?

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 05/25/2001 10:54 AM -----

	lemelpe@NU.COM
	05/25/2001 10:44 AM

		 To: Carol.St.Clair@enron.com
		 cc: moonevw@selectenergy.com, morisjr@selectenergy.com
		 Subject: Re: Form of Letter of Credit

Carol - I think Valerie Mooney (our credit person) and Ed Sacks are still
discussing some minor fine tuning of the LOC format.  I spoke to Bob Bruce
this morning - we're all set on the language in the Schedule to the ISDA,
and there is a minor credit/billing issue in Paragraph 13 related to the
timing of transfer of interest on collateral that Val will discuss with Ed
as well.  As far as the EEI goes, the only remaining issue that I'm aware
of (aside from finalizing the LOC) is whether we've finished coordinating
the Attachment containing the list of prior transactions.  Sounds like we
may actually get these documents executed early next week.

Phyllis Lemell


Sara-

Finally - It was a pelasure to speak to you and here are the coordinates.

The ISDA Agreement would be in the name of  ING Baring (U.S.) Capital Markets
LLC.

Your should forward it to me and to my colleagues at ING,  Matt Shimaitis and
Chuck Spence by e-mail, or if easier, by mail.

My address is as follows:

BBL New York Rep Office
590 Madison Avenue
28th Floor
New York, New York  10022
Phone - (212) 218-5232

and Chuck's and Matt's address is

ING
1325 Avenue of the Americas
New York, New ork 10015
Phone (212) 409-6106

My E-mail you will obviously have, but Chuck's and Matt's are:
chuck.spence@ing-barings.com
matt.shimaitis@ing-barings.com

Thanks for your help -

Regards,

Cheryl

Sara.Shackleton@enron.com wrote:

> Cheryl:
>
> We'll email the draft ISDA Schedule and CSA to you and Chuck.  Please email
> me back with address, phone, email, etc. information as to how you would
> like the drafts sent.  Thanks.
>
> Sara Shackleton
> Enron North America Corp.
> 1400 Smith Street, EB 3801a
> Houston, Texas  77002
> 713-853-5620 (phone)
> 713-646-3490 (fax)
> sara.shackleton@enron.com


Start Date: 4/17/01; HourAhead hour: 18;  No ancillary schedules awarded.
Variances detected.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041718.txt

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 18 / Preferred:   9.46 / Final:   9.45)
  TRANS_TYPE: FINAL
  LOAD_ID: SCE1
  MKT_TYPE: 2
  TRANS_DATE: 4/17/01
  SC_ID: EPMI


From: John J Lavorato/ENRON@enronXgate@enronXgate on 04/30/2001 11:30 AM
Sent by: Kimberly Hillis/ENRON@enronXgate
To: Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joannie
Williamson/Corp/Enron@ENRON, Cliff Baxter/ENRON@enronXgate, James A
Hughes/ENRON@enronXgate, Steven J Kean/NA/Enron@Enron, Mike
McConnell/HOU/ECT@ECT, Rebecca McDonald/ENRON@enronXgate, Mark
Metts/Enron@EnronXGate, Stephanie Harris/ENRON@enronXgate, Maureen
McVicker/NA/Enron@Enron, Loretta Brelsford/ENRON@enronXgate, Dolores
Fisher/Enron@EnronXGate, Sherri Sera/Corp/Enron@ENRON, Jana L
Paxton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Connie
Blackwood/ENRON@enronXgate, Mrudula
Gadade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff Baxter/ENRON@enronXgate,
Mark Frevert/ENRON@enronXgate, Nicki Daw/ENRON@enronXgate, Lucy
Marshall/Enron Communications@Enron Communications, Kathy
McMahon/NA/Enron@Enron, Jeremy Blachman/HOU/EES@EES, Philippe A
Bibi/ENRON@enronXgate, Raymond Bowen/ENRON@enronXgate, Michael R
Brown/LON/ECT@ECT, Harold G Buchanan/HOU/EES@EES, Rick Buy/ENRON@enronXgate,
Richard Causey/Corp/Enron@ENRON, David Cox/Enron Communications@Enron
Communications, David W Delainey/HOU/EES@EES, James Derrick/ENRON@enronXgate,
Steve Elliott/Enron Communications@Enron Communications, Andrew S
Fastow/ENRON@enronXgate, Ben Glisan/HOU/ECT@ECT, Kevin Hannon/Enron
Communications@Enron Communications, Rod Hayslett/ENRON@enronXgate, Stanley
Horton/Corp/Enron@Enron, Louise Kitchen/HOU/ECT@ECT, Mark
Koenig/Corp/Enron@ENRON, Kenneth Lay/Corp/Enron@ENRON, Dan Leff/HOU/EES@EES,
Danny McCarty/ET&S/Enron@Enron, Jeffrey McMahon/ENRON@enronXgate, Mark S
Muller/HOU/EES@EES, Cindy Olson/Corp/Enron@ENRON, Lou L Pai/HOU/EES@EES, Ken
Rice/Enron Communications@Enron Communications, Matthew
Scrimshaw/LON/ECT@ECT, Jeffrey A Shankman/ENRON@enronXgate, Jeffrey
Sherrick/ENRON@enronXgate, John Sherriff/LON/ECT@ECT, Jeff
Skilling/Corp/Enron@ENRON, Marty Sunde/HOU/EES@EES, Greg Whalley/HOU/ECT@ECT,
Thomas E White/HOU/EES@EES, G G Garcia/ENRON@enronXgate, Susan
Skarness/ENRON@enronXgate, Karen K Heathman/ENRON@enronXgate, Sharron
Westbrook/Corp/Enron@ENRON, Kay Chapman/HOU/EES@EES, Bridget
Maronge/ENRON@enronXgate, Inez Dauterive/HOU/ECT@ECT, Carol Ann Brown/Enron
Communications@Enron Communications, Cindy Stark/Corp/Enron@ENRON, Rosalee
Fleming/Corp/Enron@ENRON, Tori L Wells/HOU/ECT@ECT, Cathy
Phillips/HOU/ECT@ECT, Sue Ford/ENRON@enronXgate, Karen Owens/HOU/EES@EES,
Dorothy Dalton/Enron Communications@Enron Communications, Mercedes
Estrada/Enron Communications@Enron Communications, Christina
Grow/ENRON@enronXgate, Lauren Urquhart/LON/ECT@ECT, Laura
Taylor/ENRON@enronxgate, Judy G Smith/HOU/EES@EES, Suzanne
Danz/Corp/Enron@ENRON, Peggy McCurley/ENRON@enronXgate, Marsha
Schiller/ENRON@enronXgate, Tammie Schoppe/HOU/ECT@ECT, Kimberly
Hillis/ENRON@enronXgate, Jennifer Burns/ENRON@enronXgate, Sharon
Dick/HOU/EES@EES, Beverly Aden/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Leah
Rijo/Enron Communications@Enron Communications, Kathy
Campos/ENRON@enronXgate, Julie Armstrong/Corp/Enron@ENRON, Kelly
Johnson/Corp/Enron@ENRON, Rebecca Carter/Corp/Enron@ENRON
cc:

Subject: VP Candidate Greg Shea

I would like to pursue an offer to Mr. Shea prior to the next Executive
Committee meeting on May 7, 2001.  Please forward your comments or questions
by Tuesday, May 1, 2001 so that I can extend the offer by Wednesday, May 2,
2001.

You will find attached the recommendation letter and his resume.

Regards,

John Lavorato

Tammie Schoppe on behalf of John Lavorato.


Way cool.  I'd let Reagan follow up.

ckm

From: Kathleen Carnahan/ENRON@enronXgate on 05/24/2001 08:26 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: Intergen

Reagan has not received the CA, but has a call in to the Developer regarding
the status.  I will be happy to call Doug Pedigo if you want me to.

Also, the InterGen office that Raimund is working with is in Florida (Miami).

 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, May 23, 2001 6:27 PM
To: Carnahan, Kathleen
Subject: Intergen

Hi.

Did the CA get signed and sent, and did it come back?

Thanks,

Kay


Catherine:  Lisa phoned me and said she would give you a heads up that this
second change order needed review and quick turn around.  Coincidentally, Kay
Mann is reviewing change order # 1 and will be looking into the change from
LJM to E-Next Generation language implications.  Hopefully the comments on
one will apply to the other.  Suggest you call Kay straight away to save time.

I am attaching both for your convenience.  I look forward to you comments.
By the way Kay; GE is looking it over right now too, and Scott Dieball has
been asked to review.  I Scott's review is not necessary please let me know.


It is important that you bring me a copy of your receipt for the gifts that
you purchase for the tree in the lobby area.  We will tally all of the
receipts and request matching fund from Enron.  Those funds will go directly
to the Salvation Army.

I am locking the gifts in a file cabinet for safe keeping, so please bring
them to me.  Thanks for your support.  Teri


Due to an unexpected schedule conflict...

The meeting below has been rescheduled for today at 1:30pm in EB3270.

Sorry for any inconvenience,
Heather Choate, x33278
____________________________________________________________________________________________
Please plan to attend a meeting to discuss Commercialization of Back Office...

		Tomorrow, Thursday, May 31, 2001
		              in EB32c2 at 3pm

If you have any questions or conflicts, please call me at x33278

Thank you,
Heather Choate


Jill Horswell, the head of trading at SCE, just called.  She said the CEO of
SCE asked her to call around and see if energy marketing companies would be
interested in offering the "Duke SDG&E Structure," (i.e full requirements at
$60/MWhr) to SCE.  I told her that that would be a big bite for anyone, and
that the price would be well north of $60, but we would be interested in
coming up with a structure for their consideration if they wanted to take
this a step further.

We decided in the case of SDG&E that we didn't have an interest in a true
full requirements deal given the size (3,000 MW) and the difficulty in
managing the load fluctuations, credit risks, etc.  The size and scope of a
similar deal with SCE (20,000 MW) would be even more daunting.

Is this an opportunity to propose a new market structure for serving load to
try to build part of the solution to California's energy woes?  How should
the default provider be determined?  How can credit and load fluctuation
risks be managed?  Can we build a consortium of market support amongst our
fellow defendants (i.e Duke, Southern, et al)?

Let me know what you think.

Chris


Shari,

Sorry I'm so late with this.


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The Word of the Day for January 26 is:

cognizable   \KAHG-nuh-zuh-bul or kahg-NYE-zuh-bul\   (adjective)
     1 : capable of being known
    *2 : capable of being judicially heard and determined

Example sentence:
     The court determined that the plaintiff's claim of having
received an unfair grade was not a legally cognizable action.

Did you know?
     It's easy to recognize the "cogni-" in "cognizable" as the
root in other English words that have to do with knowing:
"precognition," "incognito," "recognition," and "cognitive,"
for example. They're all from Latin "cognoscere" ("to know").
"Cognizable" was formed in the 17th century from the root of
"cognizance," which means "knowledge." "Cognizance" in turn
traces to "cognoscere" by way of Middle French "conoissance."
"Cognizable" was used in the legal sense almost from its
introduction, and that's the sense that is far and away the
most common use today.

*Indicates the sense illustrated in the example sentence.

----------------
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http://www.Merriam-Webster.com
----------------

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Questions or comments about the Word of the Day?
Write to: word@Merriam-Webster.com

(c) 2002 by Merriam-Webster, Incorporated


Enron Corporation, The Princeton Review, and the Association of Rice Alumni
would like to invite you to:

THE 2001 HALLOWEEN MONSTER BASH

Houston's definitive, all-out Halloween party:

	Friday, October 26
	8:00 pm
	Garden in the Heights

We are proud to announce the return of the Halloween Monster Bash on Friday,
October 26 at Garden in the Heights.  You may remember this party from 1998;
it was a smash success then and will be at least as much fun this year.
We've got an awesome DJ, and tickets include light food and all the drinks
you can handle.

Door prizes including gift certificates from Houston's finest restaurants
will be awarded for best costumes.

The tickets are essentially at a break-even price, but if there is any money
left over, it will go to Rice's scholarship/fellowship fund, so Rice can
continue to attract even smarter, harder-working students than they've
already got.

DETAILS
Date:  Friday, October 26
Time:  8:00 PM til midnight or so
Place:  Garden in the Heights, 3926 Feagan
	(if you need directions, please call (713) 880-1065)

TICKETS
Tickets:  $25 with costume or $30 without.
How to get tickets:  Call the Rice Alumni Office at (713) 348-4057 for
advance tickets, or buy them at the door.

SPONSORSHIPS
Group and corporate sponsorships are available.  Enron, The Princeton
Review, and the law firm of Hirsch & Westheimer have already signed on as
sponsors.

This party is not exclusive in any way - all of Houston is invited (everyone
over 21, that is).  So please invite your friends and encourage them to
come.

You may get other emails about this as well, as we try our hardest to get
the word out.  I hope to see you there!
--
George W. Webb III
Director of Partnership Programs
The Princeton Review
701 N. Post Oak Rd.  Suite 8
Houston, TX  77024
(713) 688-5500
(713) 688-4746 fax
georgew@review.com


I will give it some thought.  My initial reaction is "so what" - TW is substantially contracted for through 2006/7 which would allow it to weather any storm during the interim period.  I think there would be more pressure on the proposed expansion projects more than anything.

-----Original Message-----
From: Hayslett, Rod
Sent: Wednesday, November 21, 2001 3:02 PM
To: McCarty, Danny; Harris, Steven; Donoho, Lindy
Cc: Geaccone, Tracy; Howard, Kevin A.; Donahue, Jeff; Taylor, Mitch; Taylor, Sarah; Desai, Jayshree
Subject: FW: Consultant's view on gas transmission into California
Importance: High

I received these comments this afternoon from JPMorgan.     I need to have some help putting together a story to counteract the basics of this story from CERA.

Rod

-----Original Message-----
From: Brent.Wahl@jpmorgan.com [ <mailto:Brent.Wahl@jpmorgan.com>]
Sent: Wednesday, November 21, 2001 2:00 PM
To: Hayslett, Rod
Cc: Eric.Fornell@jpmorgan.com
Subject: Consultant's view on gas transmission into California
Importance: High

Rod:

As we discussed here are the bulletts that summarize what we heard from our consultants.

Overall demand picture

Believe it will be 2006 before the California market will get back to 2000/2001 demand levels

          2002            demand down approximately 900 mmcf/d
          2003            demand will be flat
          2004            growth in demand will begin
          2005-2006   return to 2001 demand levels

Reasoning:
   2001 was a dry year - the lack of hydro generation created an additional 600 mmcf/d demand for gas in California
   Anticipated generation capacity overbuild in California - new more efficient power plants with better heat rates will displace older gas fired generation, reducing the amount of gas              required to generate a MW of electricity on the margin
   California electricity rate increases have curtailed demand for power and subsequently, gas

Gas transmission capacity into the state

Over the next two to three years there will be an additional 2.0 Bcf/d of transmission capacity into California
   800 mmcf/d in 2002
   900 mmcf/d in 2003 (Kern River expansion)
   300 mmcf/d               (El Paso conversion of All American oil line and power up)

San Juan basin gas

San Juan basin production is declining

   first half of 2001 vs. first half of 2000 production off by approximately 200 mmcf/d
   Rockies gas will not replace declining production in the San Juan San Juan gas will move closer to Permian pricing

The consultants believe that the combination of these factors will put decontracting pressure on existing transmission into the state of California, and especially the El Paso and Transwestern lines.

However, the "wild card" in their view is unforeseen California power demand growth.

As we discussed, JPMorgan would like to hear your views on the above issues.

Please give me a call when you have had sufficient time to digest and we can set up a conference call to make the most efficient use of your time.

Thanks Rod

Brent

Also, when you have had a chance to look at sales gas volume growth please
e-mail the volume numbers to me...thanks


I have two outstanding pricing issues that I tried to resolve with Gary Lamphier, but didn't have any luck.  These deals are both day deals for February 2001 done by Danny Conner. The customer is showing a pricing difference according to what we have in Sitara.  Can you please help me resolve this pricing issue.

	Sitara Deal #		Sitara Price	Customer Price

	627800			   $5.25		   $5.23
	598392			   $5.78		   $5.77


- nov2101.XLS


Here are pic's of Natalie!
Cheri


This is approved through Dec 31, 2000 as discussed.   thanks for your work on
these changes.    MK

	From:  Mike Barry                           11/28/2000 09:45 AM

To: Drew Fossum/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Steven
January/ET&S/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Doug
Aschwege/ET&S/Enron@ENRON
cc: Glen Hass/ET&S/Enron@ENRON, Ranelle Paladino/ET&S/Enron@Enron, Dari
Dornan/ET&S/Enron@ENRON, Eileen Peebles/ET&S/Enron@ENRON, Jo
Williams/ET&S/Enron@ENRON

Subject: Posting Revision

Rather than stating that capacity may be available from November 29, 2000
through March 31, 2001, the posting will now state that capacity may be
available from November 29, 2000 through March 31, 2001.

For those of you have already sent your approval, please notice this change.
For those of you who have not, please forward your approval to me immediately
to insure an immediate posting.

As discussed, the posting will remain up today until 6:00 p.m.  Please let me
know if there are any further questions.

Thanks

Mike


You have received this email because the requester specified you as their VP.
Please click
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000010552&Page=
Approval to review and act upon this request.

Request ID          : 000000000010552
Request Create Date : 12/18/00 8:53:23 AM
Requested For       : pinnamaneni.krishnarao@enron.com
Resource Name       : VPN
Resource Type       : Applications


Please see attached.

Regards,

Wendi Lebrocq
3-3835


I have reviewed ABX 78, 73, 23 and 42.  No problems with 23, 42 and 73.  I am
not sure what 78 is really getting to, it alleviates the need for a public
utility to obtain a CPUC finding that an offer of competitive services whcih
requires use of eminent domain would serve the public interest.  I have a
feeling this gives the utilities an advantage over non-utility competitors,
who do not have power of eminent domain.  At least requiring the CPUC to
authorize its use seems to level the playing field a little.  But I may be
missing something.


Set up new matters.

	Claudia Meraz
	12/07/2000 11:40 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: Invoices -

Richard -

The following two invoices don't have work orders setup:

1.  Bracewell & Patterson Re:  Berry Group, Ltd. and Berry Contracting, LP v.
Enron North America Corp.
 Amount:  $6,900.00

2.  Weil, Gotshal & Manges Re:  ENA/Perry Gas
 Amount:  $108.00  (Invoice #1009176B)
                   $352.50  (Invoice #10013082B)

Should these be coded to General Litigation or do you want me to set up new
work orders?  If so, who should they be allocated to (Team Leader)?

Thanks,

Claudia Meraz
(713) 853-9407 DID
(713) 646-3490 FAX


---------------------- Forwarded by John Arnold/HOU/ECT on 03/08/2001 09:46
AM ---------------------------
From: Ann M Schmidt@ENRON on 03/08/2001 08:11 AM
To: Ann M Schmidt/Corp/Enron@ENRON
cc:  (bcc: John Arnold/HOU/ECT)
Subject: Enron Mentions

Family Holding
Forbes, 03/19/01

The New Forecast For Meteorologists: It's Raining Job Offers --- Energy
Trading Firms Snap Up Grads of an Inexact Science; No Blow-Dryer? No Problem
The Wall Street Journal, 03/08/01

ENRON PROVIDES TRADING SERVICES TO MANX ELECTRICITY UNDER NETA
CRL, 03/08/01

Energy Trading Companies Pay Big for Weather Talent, WSJ Says
Bloomberg, 03/08/01

ENRON FAILS TO ATTRACT BIDS FOR 30 PCT STAKE IN INDIAN OIL FIELD
Asia Pulse, 03/07/01

SINGAPORE: PetroChina plans five gas, products lines by 2005.
Reuters English News Service, 03/07/01

Companies People Ideas
Family Holding
BY Phyllis Berman

03/19/2001
Forbes
102
Copyright 2001 Forbes Inc.

Lemuel Green, a flour mill owner, took the excess power from the water-turned
generator at his mill in 1908 and sold it between dusk and midnight to
anybody in Alton, Kan. who knew what to do with it. Soon he quit the milling
business and started stringing transmission lines across the western part of
the state. Before his death in 1930 he had built a utility that lit 56 Kansas
communities.
Kansas City's UtiliCorp United is perhaps the only fourth-generation
family-controlled electric utility in the country. Today the outfit, once
called Missouri Public Service, is headed by Lemuel Green's two
great-grandsons.
Richard Green, 46, took over as chief executive in 1985, three years after
his father's death. At the time Missouri Public Service served 200,000
customers in two states and had $245 million in revenues. Richard's brother
Robert, now 39, joined him three years later.
Standing pat was not an option. Deregulation was in the air, and the rules
were changing. The brothers remade the company. They spent $4 billion buying
utilities in other parts of the U.S., Canada, Australia and New Zealand.
UtiliCorp now serves 4 million customers in seven states and four countries.
More important, they veered off into other parts of the energy business. In
1986 they acquired gas properties from Peoples Natural Gas of Omaha and got a
two-person gas-trading operation as part of the deal. That little trading
operation, now a subsidiary called Aquila, turned into something almost as
valuable as all the rest of the company, with its 4,500 megawatts of power
generated in some 22 power plants around the country.
"My brother and I received strong advice that we would never be able to be
competitive in this business," says Bob Green. Oh, yeah? Aquila has 1,100
employees and competes with the likes of Duke, Dynegy and Enron. According to
Natural Gas Week, Aquila was the fourth-largest power-and-gas marketer in the
country last year. Aquila trades a host of other products as well-everything
from weather-condition hedges to bandwidth.
Problem: Trading operations require capital just as power plants do. The
solution, until now, has been what brother Bob calls "our 'asset lite'
strategy. We want to control the capacity, not own it." So Aquila may provide
the gas to power a so-called merchant plant, one that produces electricity to
sell in the market, in return for a claim on its production. But so far
Aquila has not been a big player in the most profitable parts of the
business-taking on big risk in larger transactions, the way Enron and Dynegy
do.
What to do? In mid-December UtiliCorp announced that it would offer 19.9% of
Aquila to the public, raising capital while creating a market value for its
trading operation, just as competitors Constellation Energy and Southern
Company are doing. The hope is that the new entity will garner a multiple of
20 to 45 times earnings. Then, if all were to go as planned, UtiliCorp would
spin off the rest of the operation in a tax-free distribution.
The timing looks good. Aquila has no material exposure in the California
market. Furthermore, the volatility in that market has been a bonanza for
many firms that trade power, including Aquila. Its trading subsidiary is the
reason UtiliCorp's earnings were up 28% last year, to $206 million, on $29
billion in sales. UtiliCorp's shares doubled in the past year to $30.
But will the California crisis nonetheless poison the market for an Aquila
stock offering? It might. And UtiliCorp cannot afford to hold its breath in
the capital markets forever. Even with its "asset-lite" strategy, the company
is far more leveraged than most utilities, with debt at 56% of capital,
versus the 50% norm for electric utilities. The offering is supposed to raise
$425 million or so that could be used to pay down a bit of the parent's $2.9
billion in debt.
If Bob Green is walking a financial tightrope, you could never tell it by
talking to him. "We see this company as our heritage," he says confidently.
This despite the fact that after seven equity offerings the family's share of
UtiliCorp is now 4%, down from 15% when Richard took over.
Might the Greens lose their heirloom in a takeover battle? They might, but
they might come out ahead anyway. Look at the family history. Lemuel sold
some of his utility assets for $6.6 million in 1927 and diversified into
California orange groves. The assets were resold to Samuel Insull, the
midwestern electricity magnate who came to a bad end when his pyramid of
holding companies collapsed during the Depression. Years later, after
Congress reacted with a law that busted up multistate electric utilities, Bob
and Rick's grandfather bought back Lemuel Green's utility properties for a
song.

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

The New Forecast For Meteorologists: It's Raining Job Offers --- Energy
Trading Firms Snap Up Grads of an Inexact Science; No Blow-Dryer? No Problem
By Chip Cummins
Staff Reporter of The Wall Street Journal

03/08/2001
The Wall Street Journal
A1
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Two years ago, Bradley Hoggatt was heading for an academic career in
meteorology, intent on discovering more about how hurricanes form. But just
before he started working on a doctorate, a very different opportunity blew
in.
Now Mr. Hoggatt forecasts weather for a floor full of M.B.A.s who trade
billions of dollars in weather-sensitive energy commodities such as natural
gas and electricity for Aquila Inc., the trading subsidiary of a big Midwest
utility.
With no business background himself, Mr. Hoggatt is also trading complex
financial contracts based on his predictions. "I'm putting my money where my
mouth is," says the tall, square-shouldered 28-year-old.
Weathermen and women have become a hot commodity in the exploding
energy-trading business. While off-target forecasts on television may
frustrate parents and schools and embarrass politicians, as they did this
week on the East Coast, they can lose bundles for electricity and natural-gas
traders. So as trading has boomed, so has demand for trained meteorologists,
a profession that traditionally hasn't paid all that well and is often the
butt of jokes.
From Wall Street to Houston's Louisiana Street, where many energy companies
have set up shop, recent graduates are earning twice what they would earn at
the National Weather Service or in academia. "The appetite for weather is
insatiable," says James L. Gooding, director of meteorology at Duke Energy
Corp. A former NASA scientist, Dr. Gooding will be adding a fourth forecaster
to his Houston team in the next year.
Enron Corp., an energy-trading giant based in Houston, has more than doubled
its staff of weather forecasters to nine in the past three years, plucking
talent from places like the Weather Channel. Williams Cos., a Tulsa, Okla.,
competitor, is endowing university fellowships to lure meteorology students.
And since 1999, Aquila, which is owned by UtiliCorp United Inc., of Kansas
City, Mo., has hired two other meteorologists from Mr. Hoggatt's alma mater,
the University of Wisconsin, plus another scientist with a Ph.D. in
climatology.
That hiring paid off a bit during this week's winter storm in the Northeast.
While many on the East Coast were getting miscues from TV weathermen on a
pending, possibly historic blizzard that fizzled in New York and other
cities, traders at Aquila simply looked to Mr. Hoggatt.
Last Friday, Scott Macrorie, an electricity trader for the Mid-Atlantic
region at Aquila, stopped by to see how the storm was progressing. Mr.
Hoggatt's team told him temperatures in his region of interest would be lower
because of the storm, though the snowfall forecast on TV seemed a little
high. Sure enough, temperatures fell and snowfall in many cities was less
than predicted, lifting electricity prices and making Mr. Macrorie a profit
that he says was in the tens of thousands of dollars.
About 500 university students in the U.S. graduate each year with bachelor's
degrees in meteorology, according to the American Meteorological Society. An
additional 300 or so graduate with masters degrees or doctorates. Until just
a few years ago, those graduates didn't typically have many options: TV for
those who had the blow-dried look, back-office jobs with the government or a
handful of private consultants for those who didn't. Research was an option.
And some airlines and utilities kept a few meteorologists on staff to help
position airplanes or power-line repair trucks during storms.
Now, deep-pocketed trading companies are offering many meteorologists with
graduate degrees salaries ranging from $60,000 to $90,000. Performance and
trading bonuses can double or even triple the figure. That compares with the
roughly $33,000 the National Weather Service pays a junior forecaster with a
graduate degree.
"It's a bit unusual for meteorologists to have the prospect of lucrative
employment after graduation," says John Nielsen-Gammon, a professor of
atmospheric sciences at Texas A&M University. "This is a bit of a switch."
So far, there has been no dearth of meteorological talent available, partly
because the National Weather Service wrapped up a big expansion project in
the mid-1990s and slowed hiring. It hires only to replace people who leave,
about 30 to 50 meteorologists a year.
And the high-pressure world of billion-dollar commodity bets isn't for
everyone. When Carl Altoe graduated from Penn State, one of the nation's top
meteorology programs, he got a heavy sales pitch from Enron. "It's quite an
impressive place," he says of Enron's trading floor, but he wasn't sure
forecasting skills alone would be enough to make the grade. "I would be
afraid that if money wasn't made in a hurry, I'd be tossed," says Mr. Altoe,
who accepted a position with the National Weather Service in Marquette, Mich.
For others, having forecasts count puts a new thrill in the old art. After
two years as a manager at the Weather Channel's Latin American division in
Atlanta, Jose Marquez posted his resume on an Internet job site run by the
American Meteorological Society. Enron called.
"Have you heard about Enron?" Mr. Marquez remembers being asked. "And I said,
honestly, `No.'"
During a visit, Mr. Marquez, a 33-year-old Navy-trained meteorologist, found
Enron's trading floor exhilarating. Enron courted Mr. Marquez heavily,
tracking him down three times during his Christmas vacation in Puerto Rico.
Mr. Marquez decided the sprawling trading floor was just the sort of active
work place he was looking for. Also, he'd be getting a 10% to 15% boost over
his Weather Channel salary, before potential bonuses from Enron.
"I'm getting more money than I would anywhere else," he says.
Weather has long affected prices of everything from grain at Chicago's early
commodity markets to the stocks of retail companies on Wall Street. Jon
Davis, a meteorologist for Salomon Smith Barney in Chicago, started
forecasting the weather for agriculture traders back in 1985.
But volatile energy prices have raised the stakes for forecasters who are
able to gauge air-conditioning use in the summer or natural-gas demand during
the winter heating season. Meanwhile, all sorts of companies are turning to
energy traders and Wall Street for "weather derivatives," complex contracts
used to hedge financial risks associated with the weather. "With every
passing year, you do more energy and more energy," Mr. Davis says.
Despite big advances in data collection and modeling, betting millions of
dollars on weather forecasts can still be tricky business. Short-term
forecasts are pretty good. Predicting weather two weeks from now is chancy.
Most meteorologists get their data from the government, particularly the
National Weather Service. Many then tweak it with their own interpretations
or forecasting models.
Disappointed last year by poor long-term forecasts from 11 private
consultants, Aquila has a contest offering $100,000 to the meteorologist or
team that can best predict temperatures in 13 major U.S. cities over the
course of a year. "I call it the forecast bakeoff," says Mr. Hoggatt.
The high stakes also mean more pressure on forecasters. WSI Corp., a
Billerica, Mass., weather-forecasting firm, started an energy service last
year, and Jeffrey A. Shorter, a WSI vice president, says energy clients can
be less forgiving than his other clients in TV and aviation, especially when
the forecasts are wrong. But, he adds, "presumably, more often than not,
we're right."

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

ENRON PROVIDES TRADING SERVICES TO MANX ELECTRICITY UNDER NETA
2001-03-08 08:43 (New York)

     (The following is a reformatted version of a press release issued
by Enron and received via electronic mail. The release was not confirmed
by the sender.)

ENRON AND MANX ELECTRICITY ANNOUNCE POWER TRADING AGREEMENT

     London, March 8 -- Enron announced today that it has concluded a
long-term power trading agreement with the Manx Electricity Authority
(MEA), representing one of the first deals with an embedded generator
specifically designed for the New Electricity Trading Arrangements
(NETA). Under the agreement Enron will provide 24-hour trading services
to MEA under NETA in an innovative deal structured to maximise the value
of the electricity interconnector between the Isle of Man and UK
mainland.
     The A45 million interconnector runs between Bispham in Lancashire
and Douglas on the Isle of Man and is capable of carrying 40MW in each
direction. At 105km it is the longest AC interconnector cable in the
world.
     "The development costs of the interconnector to the UK placed us
under pressure to put the link to the highest and best economic use and
we feel our relationship with Enron has accomplished this" said Mike
Proffitt, Chief Executive of MEA.
     "Our commitment to reducing the price of electricity on the Isle of
Man is firmly embedded in MEA's five year plan and our trading
partnership with Enron will greatly assist us in achieving this goal."
     Richard Lewis, Managing Director of UK gas and power at Enron,
commented: "This is a great transaction for both parties and fits well
into Enron's trading portfolio. MEA will benefit from Enron's expertise
as one of the UK's leading energy traders and will provide us with their
skills as operators of their generation plant and the interconnector. It
is significant in that we believe it is one of the first embedded
generation transactions specially tailored for the new trading
arrangements."

Media Contacts:

Alex Parsons
Enron
Tel: 020 7783 2394

Alison Cottier
Manx Electricity
Tel: 01624 687798

(db)LO
                                     -END-
-0- (CRL) Mar/08/2001 13:43 GMT

Energy Trading Companies Pay Big for Weather Talent, WSJ Says
2001-03-08 06:47 (New York)

     Kansas City, March 8 (Bloomberg) -- The growth of energy
trading floors in the past several years has made meteorology a
glamour profession, even for forecasters who never even intended
to predict the weather on television, the Wall Street Journal
reported.
     Weather affects commodities trading and determines
electricity and natural gas supply and demand. That's why large
energy trading companies like Enron Corp., Williams Cos. and
UtiliCorp United Inc. recruit top weather-forecasting talent, the
paper said. Meteorologists with graduate degrees can command
$60,000 to $90,000 a year, far higher than the $33,000 the
National Weather Service pays a junior staffer.
     Energy traders use in-house weather forecasts to make quick
bets on the direction of electricity and natural gas prices. Fast
and accurate predictions can earn huge profits, the paper said.
     Many meteorologists say they like the pace and action of the
trading floor. While some in the profession work in broadcasting,
most meteorologists labor in the less visible and action-oriented
worlds of academia or government research, the paper said.

(Wall Street Journal 3-8 A1)

ENRON FAILS TO ATTRACT BIDS FOR 30 PCT STAKE IN INDIAN OIL FIELD

03/08/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

NEW DELHI, March 8 Asia Pulse - US energy major Enron Corporation's bid to
sell its 30 per cent stake in Panna-Mukta and Tapti oil and gas field has met
with lukewarm response primarily due to inherent problems with the project.
Several glitches in the joint venture agreement and disputes with other
partners in the joint venture, Oil and Natural Gas Corporation (ONGC) and
Reliance, have kept away international oil giants like Royal Dutch Shell,
British Petroleum and BHP of Australia, industry sources said.
While Enron is believed to have pegged the sale price of its stake in the
Indian venture at US$700 million, independent evaluations by various domestic
and international companies have discounted the figure between US$250 to
US$380 million factoring several pending agreements and unresolved issues,
sources said.
ONGC, which holds 40 per cent stake in the US$900 million venture, Reliance,
having 30 per cent interest in the gas fields, and Indian Oil Corporation
(IOC) are among the 4-5 companies that are left in the fray for acquiring
Enron Oil and Gas India Ltd (EOGIL's) stake in Panna-Mukta and Tapti fields.
Inspite of over three years of operation, Panna oilfield's processing tariff
has not yet been fixed with ONGC and the promoters have not yet reached a
final agreement on gas transportation cost from Tapti, sources said.
Besides, delivery point for Panna has not been determined which has resulted
in a 10 per cent revenue loss which the government deducts from the total gas
revenue of the company.
(PTI) 08-03 1002

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

SINGAPORE: PetroChina plans five gas, products lines by 2005.
By Chen Aizhu

03/07/2001
Reuters English News Service
(C) Reuters Limited 2001.

SINGAPORE, March 8 (Reuters) - PetroChina has mapped out plans for a massive
pipeline gridwork to be in place by 2005 and to ship huge hydrocarbon
reserves in China's west to its thriving east, government and industry
officials said on Thursday.
"A total of five pipelines are planned in the 10th five-year plan
(2001-2005), four gas and one for refined oil products," a senior industry
official told Reuters by telephone from Beijing.
Officials estimated total cost of the projects at 50 billion yuan ($6
billion) at least.
Topping the agenda and the largest of the five projects is the 4,200-km gas
trunk line winding eastwards from China's central Asian region Xinjiang to
the Yangtze River Delta.
Construction of the $4.8-billion project is set to start later this year.
Officials said construction would begin with the 1,600-km eastern section
from Jinbian in northwest Shaanxi province to Shanghai, where initial gas
supply is expected to land in 2003.
The longer western section connecting Tarim to Jinbian is slated for
completion by 2005, officials said.
PetroChina aims to move between 12 and 20 billion cubic metres (bcm) of gas
through the trunkline in 2005.
HUGE UNTAPPED RESERVES
Officials estimated about 720 bcm of recoverable gas reserves remain in the
Shan-Gan-Ning and Tarim basins. PetroChina's most recent big discovery in the
Sulige field in the northern Ordos basin has proven reserves of 220 bcm.
PetroChina is hoping to lure foreign firms to invest in the project,
including top three oil majors ExxonMobil , Royal/Dutch Shell Group and BP
Amoco .
Also under planning is a three bcm-per-year gas pipeline from Jinbian to
Beijing, Hebei and Shandong. Sources said Shell and PetroChina were jointly
studying the project.
A third gas line is planned from Zhongxian in the gas-rich southwest Sichuan
to Wuhan and Hunan provinces in central China, officials said.
U.S. gas and electricity firm Enron Corp is a joint developer in the Sichan
gas block, which will send supplies via the proposed 740-km line.
Sichuan, which produced 7.995 bcm of gas in 2000, is presently China's top
gas producer, according to official data.
The fourth gas pipe, stretching 953-km eastwards from Qaidam basin to Lanzhou
in the northwest, is expected to be operational in May with an annual
capacity of two bcm, according to Beijing-based industry newsletter China
OGP.
The project, which targets PetroChina's subsidiary refineries in Lanzhou,
will cost 2.25 billion yuan, China OGP said.
LONGEST PRODUCTS LINE TO MOVE OIL SOUTH
PetroChina also is set to build a 1,247-km refined products pipeline from
Lanzhou to oil-thirsty Sichuan to move surplus products out of the remote
northwest region.
A feasibility study for the line, which would be the longest products
pipeline in China, was approved recently, a senior official with the State
Development Planning Commission told Reuters from Beijing.
Officials said the project would replace rail transport and eventually cut
PetroChina's oil distribution cost.
"The railway system has a bottleneck which only allows a limited oil flow at
one time, and it's much more expensive (than pipeline)," said a Beijing-based
PetroChina official.
When built in 2005, PetroChina would be supplying five million tonnes a year
of mostly gasoline and diesel to Sichuan, one of China's most populous
province and which buys most of its oil by rail or ship from neighbouring
provinces.
($1=8.277 yuan).

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


thanks,

sorry you are still there.

pete

-----Original Message-----
From: Chavez, Alejandra
Sent: Wed 10/17/2001 8:58 PM
To: Keavey, Peter F.
Cc:
Subject: P&L 10/17/01

Hub P&L   $830,002

we're still working on the yankee gas deal, so the transport book is not done yet.

Alejandra

-----Original Message-----
From: Keavey, Peter F.
Sent: Wednesday, October 17, 2001 8:52 PM
To: Chavez, Alejandra
Subject:

No numbers ??


Sheila:  Please per my voice mail, let's sit down in my office and catch up
because there are a lot of loose ends on the brokerage side (particularly
with Marie leaving).  I can address you emails (current and past) at that
time.  Thanks.  Sara

	From:  Sheila Glover                           04/12/2000 02:39 PM

To: Sara Shackleton/HOU/ECT@ECT
cc: Susan Flynn/HOU/ECT@ECT
Subject: Morgan Stanley Prime Broker Agreement and Overseas Lending Agreement

Sara,
Have you been able to locate a copy?
Thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 04/12/2000 02:35
PM ---------------------------

	From:  Sheila Glover                           03/29/2000 02:28 PM

To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Morgan Stanley Prime Broker Agreement and Overseas Lending Agreement

Sara,
May I have a copy of the Morgan Stanley Prime Broker Agreement and the
Overseas Lending Agreement.
Jeff and I have been talking to Goldman Sachs about a similar arrangement and
wanted to re-review the Morgan Stanley structure.
Thank. Sheila


Attached is PIRA's latest "Electricity Daily Demand Forecast."

If you have any questions regarding the report's content, please contact
Morris Greenberg (email: morris@pira.com) or Victoria Watkins (email:
vwatkins@pira.com), at (212) 686-6808.

Contact John Graziano regarding PIRA report distribution and address changes
at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Electricity Daily Demand Forecast" outside a
Client's licensed distribution area is strictly prohibited. Clients that are
unsure of their licensed distribution or require an extension of their
current license should contact their PIRA sales representative, or email to
sales@pira.com.

PIRA Energy Group

 - ed043001.pdf
 - ed043001.xls


Justin -

Further to our conversation yesterday I have reviewed the existing HDD Swap
GTC's.  In contrast to the Financial GTC's which when read with the ETA are
drafted on the basis that the GTC's only apply if an ISDA has not been
executed,  the HDD Swap GTC's have been drafted to work in unison with the
ISDA framework.  The HDD Swap GTC together with the specific documentation
for each transaction constitutes a Confirmation under the ISDA Form.   I have
made some drafting changes in this regard the most important of which is the
carve out of the language in the ETA which provides that GTC's will only
apply if an ISDA has been executed.

Incidentally - with respect to the ETA - it seems to provide that the
relevant GTC's will apply in respect of a Transaction if an ISDA is not in
place on the trade date of such transaction, however it does not seem to make
any provision for circumstances where an ISDA/Master Agreement is entered
into subsequent to the execution of a Transaction.   In such circumstances on
a literal interpretation of the ETA, the pre-existing Transaction would
continued to be governed by the GTC but future Transactions would be governed
by the ISDA/Master Agreement.  From a netting perspective this is not ideal.
Is this the intention ?

Give me a shout when you have had a chance to review the attached.

Denis


What's happening?  How's your day going so far?  Mine is pretty good so far,
we'll see at 2:10 p.m. when the Nymex closes.   Are you doing rehearsal
tonight?  I still need to get me a good black dress, I really liked your red
dress.  I need something on that order .  See you later!!!!


How do you feel about offering clearing services on EOL?  It would be a tricky cash issue for Enron, but given our credit situation, it might become more necessary in order to keep large counterparties on the site.  Our discussions with Nymex have touched on the idea, and I wanted to get your thoughts.

Brad


Lloyd Don Miller - "Don" from ENA
Thanks,
Ben


---------------------- Forwarded by Stuart Zisman/HOU/ECT on 12/16/99 12:58
PM ---------------------------

	Enron North America Corp.

	From:  Rodney Malcolm                           12/16/99 12:45 PM

To: Stuart Zisman/HOU/ECT@ECT
cc:
Subject: Summer - Winter Designation

Designation for Gas Index switch over
April through October - Summer
Nov through March - Winter or non summer


Thanks so much.  I'll email when faxed.

Best,
Jeff

-----Original Message-----
From: Lynne LaMarca Heinrich [mailto:lynnelh@pacbell.net]
Sent: Friday, December 07, 2001 2:34 PM
To: dasovich@haas.berkeley.edu
Subject: Fax

Jeff

It is 510/649-3076

Very today, for some reason...!

Be sure to let me know by email when you send it.

____________________________
Lynne LaMarca Heinrich
Senior Consultant
Marts & Lundy, Inc.
1441 Hawthorne Terrace
Berkeley, CA  94708
B.  510/644-4490
F.  510/649-3076
lynnelh@pacbell.net


Sorry that I missed you this morning.  I attended that last Financial Council
meeting on SAP this morning just prior to my lunch meeting with Mark Frevert
and Rick Causey.  Nothing substantial came up on Helsinki, so it was fine
that we didn't get to talk today.  I had wanted to be prepared on how to
address out current activities there.  So I can get an update on that when we
talk tomorrow.

I have a meeting on the analyst and associates program from 9:00 to 10:00
tomorrow.   I will call you around 10:00 when I get back from that meeting.


Hi Jeanie,

What is your schedule looking like for this week or next in the late
afternoon?


I'm attaching the final copy of my resume, already critiqued by my advisor and ready to be sent to companies.  See what you think when you get a second.  I added a few projects and computer skills and changed a few classes.  Hope you're having a good day at work.

Cheers loser,
Jules


Yes, we were successful in getting a transporter to step in.  This starts tomorrow - however I am in talks with regulatory on what to do on the days between 12/3 - 12/20.  Also, we are not going to grant an OBA at this point at this time.

Thanks!

 -----Original Message-----
From: 	Adams, Jean
Sent:	Friday, December 21, 2001 9:58 AM
To:	Adams, Jean; Buchanan, John; Mercaldo, Vernon; Blair, Lynn; Stage, Michael G.
Cc:	Williams, Jo
Subject:	RE: Potential Customer

West Texas Gas is transporting this gas for Embassy.  Thanks for everyone's help in getting this issue resolved.

Jean

 -----Original Message-----
From: 	Adams, Jean
Sent:	Thursday, December 20, 2001 10:13 AM
To:	Buchanan, John; Mercaldo, Vernon; Blair, Lynn; Stage, Michael G.
Cc:	Williams, Jo
Subject:	RE: Potential Customer

Vernon,
Warrior Gas Company contact is Robert C. (Bob) Lyon - phone 915-688-3838

John Wollaston with Embassy is requesting that you send him a pro forma OBA for his review - his e-mail is: embassy9@home.com

Vernon, Embassy is getting lined out for January business.  They just got caught in the middle of the ENA fallout, but they are anxious to get a resolution for December in place.  Thanks for your help.

Jean

 -----Original Message-----
From: 	Buchanan, John
Sent:	Thursday, December 20, 2001 7:30 AM
To:	Mercaldo, Vernon; Adams, Jean; Blair, Lynn
Cc:	Williams, Jo
Subject:	RE: Potential Customer

The volumes were scheduled for the 1st and 2nd only, then the nomination was removed and scheduled to 0. The point continues to flow without a nom or scheduled volume.

John

 -----Original Message-----
From: 	Mercaldo, Vernon
Sent:	Thursday, December 20, 2001 7:28 AM
To:	Buchanan, John; Adams, Jean; Blair, Lynn
Cc:	Williams, Jo
Subject:	RE: Potential Customer

Have a phone number or contact at Warrior?

Also, we will need to talk about what has transpired between the 3rd and now.  Jean told me yesterday that even though there is no nom we are scheduling and delivering gas to this POI under a dead contract (ENA's).   We should not be doing this.  This will cause DDVC penalties et al.  Until we have a contract for transport with someone - we shouldn't just flow gas.

 -----Original Message-----
From: 	Buchanan, John
Sent:	Thursday, December 20, 2001 7:21 AM
To:	Adams, Jean
Cc:	Mercaldo, Vernon
Subject:	RE: Potential Customer

Jean, work with Vernon on this it is up to him to negotiate the contracts.

John

 -----Original Message-----
From: 	Adams, Jean
Sent:	Wednesday, December 19, 2001 4:54 PM
To:	Buchanan, John; Mercaldo, Vernon
Cc:	Adams, Jean; Benningfield, Robert; Forbish, Sherry; Greaney, Chris; Hibbard, Scott; Janzen, Randy; Linhart, Joe; McDaniel, Janet; Scurlock, Debra; Sturr, Kathy; Vaughan, Cara; Woodson, Harry
Subject:	FW: Potential Customer

John,  After we spoke this afternoon I had another call from John Wollaston @ Embassy Natural Gas.  He spoke with Warrior Gas, a Clayton Williams company, which is the gas supplier and they are willing to assume the responsibility for the transport at POI 4879.  Let me know how to proceed, if this is a viable option. Do we want to set up a contract with Warrior Gas?  Do we want to establish and OBA for this point with Embassy - Mr. Wollaston mentioned the OBA possibility.  The deal with Sid Richardson is probably not going to happen.

I couldn't find a contract for Warrior or Clayton Williams on NNG.

Let's talk tomorrow.

Thanks,
Jean

 -----Original Message-----
From: 	Mercaldo, Vernon
Sent:	Thursday, December 13, 2001 1:45 PM
To:	Adams, Jean
Cc:	Williams, Jo; Pritchard, John; Adams, Jean; Neubauer, Dave; Miller, Kent
Subject:	FW: Potential Customer

Jean,

This is outstanding information gathering!  Any time you can get this much detail it sure helps us in our commercial efforts.

Good Job!
Vernon

 -----Original Message-----
From: 	Stage, Michael G.
Sent:	Thursday, December 13, 2001 1:30 PM
To:	Adams, Jean; Mercaldo, Vernon
Cc:	Buchanan, John; Blair, Lynn; Benningfield, Robert; Forbish, Sherry; Greaney, Chris; Hibbard, Scott; Janzen, Randy; Linhart, Joe; McDaniel, Janet; Scurlock, Debra; Sturr, Kathy; Vaughan, Cara; Woodson, Harry
Subject:	RE: Potential Customer

Jean,

Thanks for the contact. I have passed this on to Vernon Mercaldo to see what interest they might have in holding their own upstream transportation.

Thanks, Mike

 -----Original Message-----
From: 	Adams, Jean
Sent:	Wednesday, December 12, 2001 9:08 AM
To:	Stage, Michael G.
Cc:	Buchanan, John; Blair, Lynn; Adams, Jean; Benningfield, Robert; Forbish, Sherry; Greaney, Chris; Hibbard, Scott; Janzen, Randy; Linhart, Joe; McDaniel, Janet; Scurlock, Debra; Sturr, Kathy; Vaughan, Cara; Woodson, Harry
Subject:	Potential Customer

Mike,

Embassy Natural Gas is the operator for POI 4879 - Vantage Plainview.  John Wollaston is the contact 915-685-4103.  Embassy purchased gas from ENA (2,500 dth/day) to service Azteca Milling, LP - This is a $250 million  plant that mills flour for tortillas - one of the largest employers in Midland, TX.

ENA was transporting the gas on their contract for Embassy.  They had a hedging deal : TOK index plus 15cents ($2.08 + .15) - present day ($2.95).  He is concerned that he will have to go out and pay more $ for gas.  I  put him in touch with Kevin Brady (3-7750) with ENA and Kevin gave him the marketer Jason Williams (3-1929) to contact about Embassy getting in touch with the upstream supplier for ENA so that they could perhaps buy the gas directly and hopefully at the same price.

I don't know the outcome of their conversation.

I thought your group might be able to help him.  I have not mentioned this possiblilty to him.  Would you let me know if you plan to pursue?

Call me if you have questions.

Jean
3-7757


Thanks for the update, Fred. The idea of the meeting is great, and any
further views of the matter should be either expressed in that meeting or by
phone, and not in e-mail to the greatest extent possible.  I think Kay would
agree on the need to discuss this and not write anymore.

To be clear, Fred is  not saying below that that the "eye-rolling" expresses
his or EECC's view of the claim, but he is in fact expressing support for
Kay's view of the claim. Fred is simply saying we should have a team meeting
to get everyone involved on the same page so they understand the matter
properly and don't send mixed signal.

JWVS

	Fred L Kelly
	02/14/2001 05:04 PM

		 To: Ben F Jacoby/HOU/ECT@ECT
		 cc: Keith Dodson/NA/Enron@ENRON, Kay Mann/Corp/Enron@Enron, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Re: Siemens Westinghouse Points of Contractor- Generator Inspection

Ben - although my role is changing inside Enron, you know I will always help
you as requested/required.  I am discussing this particular situation with
Keith Dodson inside the newly formed EEAS  - we will call you to discuss.

Things I think/recommend should happen regardless:

1)  Your idea of a coordination meeting is good.  The combined efforts of our
teams....., taking 7 months to get the generator uncrated and inspected...,
is not spectacular.

2)  I think that ........, in the right way........, we need to insure that
if anyone asks Janet Dietrich or Delainey whether we were impeded on the
Electrocities project, and......, whether we would really be willing to
litigate a claim based on that..... I want to make sure our answer doesn't
change.  Don't take that the wrong way, but......, I believe there are people
inside ENA and the old EECC that have rolled their eyes in front of
Westinghouse regarding our claim for LD's.  I don't think we have
Westinghouse believing we were impeded (because the Enron team isn't
convinced).  Westinghouse's cooperation might be different if they sincerely
believed that Enron was "impeded".  Kay Mann's input that Enron was really
impeded weighs strong on my mind (I put a lot of weight in Kay's opinions).
If you could get that clarified/reinforced/defined at that level......, we
can insure we are on solid ground in talking w/ Westinghouse.  Kay makes a
good point that it doesn't matter what "...the team believes....".  I
politely disagree and feel that if we convinced ourselves.......,
Westinghouse's cooperation might change.

3)  I think that Kay (and John Schwartzenburg's team if Kay desires) should
advise if any official notifications should be made to Westinghouse (e.g., we
haven't really ever formally "rejected" delivery.... maybe we want to rely on
the correspondance that has evolved, and...... a new letter now would weaken
our case..... but....., I believe you would want Kay (and maybe John if Kay
desires) to advise if any such notification could strengthen our position.  )

Keith and I will call.

Fred Kelly

Phone     713-646-6207
Mobile     713-851-9172


FYI
---------------------- Forwarded by Doug Gilbert-Smith/Corp/Enron on
10/02/2000 04:23 PM ---------------------------

"Evans, Doug" <DEvans@ercot.com> on 10/02/2000 04:02:30 PM
To: 1 ERCOT Staff <ercotStaff@ercot.com>, 1 ESC <esc@ercot.com>, 1 RSS
<rss@ercot.com>, 1 TAC <tac@ercot.com>, 1 TMOS <tmos@ercot.com>, 1 Oasis
Subscribers <oasissub@ercot.com>
cc:

Subject: October Loss Cost

The ERCOT Monthly Loss Cost per MWH for the month of October 2000 is $55.65.

A history of the ERCOT Monthly Loss Cost is posted on.
ftp://ftp.ercot-iso.com/inside.htm

Trick or treat/Happy Halloween,
Doug Evans


Eric, sorry for the delay.  It's a busy morning.


I haven't received yet the final Performance Evaluation Results.
The usual practice is to defer the reviews till   the final summary rankings
are available.

Please, let me know when I can expect it form the HR.

Thanks.

Vince Kaminski

"perfmgmt@enron.com"<perfmgmt on 08/10/2000 05:16:14 PM
To: vkamins@enron.com
cc:
Subject: Mid-Year 2000 Performance Evaluation Due

Sep 01, 2000

THE ABOVE DATE IS WHEN THE MID-YEAR 2000 PERFORMANCE EVALUATION FORMS FOR
DIRECTORS AND BELOW ARE DUE IN HUMAN RESOURCES.

If you have not already done so, supervisors should begin the process of
giving feedback to their employees.  The evaluation forms used to provide
feedback to the employee can be obtained via the Performance Management
System (PEP).

To download the evaluation forms from PEP, please follow the steps below:

1. Log into PEP at http://pep.enron.com .
2. Under Supervisor Services, click Supervisor Evaluation Forms.
3. Right-click on each employee and choose 'Save Target As...' or 'Save Link
As...'
4. Select your own personal directory, choose a file name to save to and
click 'Save'.
5. Repeat for each employee.
6. Now you can complete your evaluation forms from your personal directory
and will not have to access PEP to finalize the form.

Upon completion, please forward the signed evaluation forms to your HR
Representative NO LATER THAN Friday, September 1st 2000.

If you have any questions, please contact the PEP Help Desk at the following
numbers:

In the U.S.:  1-713-853-4777, Option 4
In Europe:  44-207-783-4040, Option 4
In Canada:  1-403-974-6724 (Canada employees only)

Or e-mail your questions to:  perfmgmt@enron.com

Your employees that should receive mid-year evaluations are listed below:

    CRENSHAW, SHIRLEY J
    GANJOO, SHALESH
    GIBNER, PEYTON S
    KOLLAROS, ALEXIOS
    KRISHNARAO, PINNAMANENI V
    MASSON, GRANT S
    RAYMOND, MAUREEN J
    ROBERTS, MICHAEL A
    SERGEEV, MIKHAIL
    SHANBHOGUE, VASANT
    VERNON, CLAYTON J


Please see attached.

 - EL01-51.1
 - ER011489.1
 - ER011517.1
 - NR01-17.1


Susan,
Please let me know if this gets approved? furthermore, I would like to see the Tariff to see if the changes will affect our business.

Thanks
Paul

 -----Original Message-----
From: 	Lindberg, Susan
Sent:	Tuesday, September 18, 2001 6:25 PM
To:	Ader, Jeff; Bernstein, Mark; Broderick, Paul J.; Brown, Michael; Burnett, Lisa; Campbell, Larry F.; Davis, Mark Dana; Dorland, Chris; Dutta, Tom; Fromer, Howard; Gilbert, Gerald; Gordon, Joe; Guillaume, David; Gupta, Gautam; Hoatson, Tom; Llodra, John; Martinez, Posey; May, Tom; Miller, Jeffrey; Misra, Narsimha; Plauche, Shelley; Quenet, Joe; Scheuer, Janelle; Stalford, Robert; Stepenovitch, Joe; Stewart, Jennifer N.; Thomas, Paul D.; Wood, George
Cc:	Fulton, Donna; Nicolay, Christi L.; Novosel, Sarah; Steffes, James D.
Subject:	NYISO filing (ER01-3001-000)

On September 4, 2001, the New York Independent System Operator, Inc. (NYISO) filed revisions to amend Attachment F of the NYISO Market Administration and Control Area Services Tariff to extend the duration of its currently effective $1,000/MWh Bid Caps on certain NYISO-administered markets; and amend Attachment Q to the NYISO's Open Access Transmission Tariff and Attachment E of the ISO Services Tariff to extend its Temporary Extraordinary Procedures for Correcting Market Design Flaws and Addressing Transitional Abnormalities.

If you need further information please let me know.

Susan
x30596


Hey Guys.

We have a new way to export from NP15 up to the Northwest. Cascade is a tie between CISO and PAC SYSTEM on the California Oregon border. There is currently 30MW Non-Firm Hourly transmission available on the tie.

The capacity constraint is on the PacifiCorp side of the tie,  and you can find the real number available on the PAC oasis site. Check under TRANSMISSION REQUESTS/ Offerings. The path name you need to check is W/PPW/CRAG-PACW//. Make sure you pick Hourly non-firm.

On the CISO side the tie point is called CASCAD_1_CRAGVW by the CISO.

Procedure:
Export at Cascade from the CISO.
Buy PAC Transmission from CRAG to BPAT or whoever is picking it up from Pac System.

Transmission costthrough PAC is only $5.84.

I know the NP15/MIDC spread is not as large as we have seen it in the past. It does on the other hand give us another option.

Geir


Confidential Settlement Document
Per CPUC Rule 51

Gas Accord II Settlement Participants:

Attached is PG&E's Gas Accord II (GA II) Settlement Proposal.  We believe it
addresses many of the issues and concerns you have raised in the workshops.

As an overview, this proposal:

* Maintains the basic Gas Accord structure in place today for the
period 2003 to 2007.
*
* Offers end user transportation rates for 2003 lower for most
customers than rates in effect today.
*
* Provides for vintaged Redwood path rates for core customers.
*
* Offers a 7.5 cent/dth rate to large customers while minimizing rate
changes to other customers, minimizing the incentive for these customers to
seek to bypass local transmission charges and other CPUC-approved charges.
*
* Adopts guidelines to improve reliability and help moderate prices in
gas commodity markets, and identifies the capital projects needed to meet
these guidelines over the course of the GA II period (2003-2007).
*
* Provides a high degree of rate stability, with a 3.5% escalator to
capture both inflation and the cost of needed capital projects.  The
guaranteed rates will be adjustable only for significant changes in the cost
of capital or increased costs due to governmental requirements or
catastrophic events.
*
* Preserves a rate differential between the Redwood and Baja paths,
although somewhat less than the current differential.
*
* Proposes a two-stage open season for firm transportation services
beginning in 2003, with end users receiving a first option on available
capacity.
*
* Maintains the core aggregation program with some adjustments.

PG&E also anticipates that the Core Procurement Incentive Mechanism (CPIM)
will be similar to today's mechanism, but will reflect the somewhat larger
capacity holdings needed to meet anticipated increases in core demand and to
meet a 1-day in 10-year cold weather event.

This also will serve as a reminder that an all-Party meeting is scheduled at
PG&E's headquarters in San Francisco on January 10 and 11, to discuss this
proposal and to respond to your questions.  We look forward to answering
your questions and receiving your feedback.

The attached documents include the GA II Settlement proposal, an Attachment
(a copy of PG&E's proposed Gas Rule 27), and a set of supporting workpapers.

Finally, please note that the Settlement document and the Attachment are in
"Word 2000" format.  We would be glad to provide the same documents in an
earlier version of Word, upon request by individual Parties.

We look forward to seeing you on January 10-11.  In the meantime, we extend
our best wishes for a safe and happy holiday season.

Frank Lindh     Ray Williams
(415) 973-2776    (415) 973-3634

<<PG&E Gas Accord II Settlement Proposal 12-20-00.doc>>  <<Proposed Gas
Rule 27.doc>>  <<COS & Rates Workpapers for GA II 12-20-2000 Proposal.xls>>

 - PG&E Gas Accord II Settlement Proposal 12-20-00.doc
 - Proposed Gas Rule 27.doc
 - COS & Rates Workpapers for GA II 12-20-2000 Proposal.xls


FYI, the article is not really accurate in that TVA is currently constructing
a total of 600MWs of peakers which will be on-line by summer '00. These
peakers consist of 300MW expansions at each of their Johnsonville and
Gallatin plants.

Regards,

Ben Jacoby

	From:  Christi L Nicolay                           01/13/2000 08:57 AM

To: Joe Hartsoe/Corp/Enron@Enron, Cynthia Sandherr/Corp/Enron@Enron, James B
Fallon/HOU/ECT@ECT, Steven J Kean/HOU/EES@EES, Richard Shapiro/HOU/EES@EES,
Sarah Novosel/Corp/Enron@Enron, Elizabeth Sager/HOU/ECT@ECT, David W
Delainey/HOU/ECT@ECT, Mike J Miller/HOU/ECT@ECT, Ben F Jacoby/HOU/ECT@ECT,
Barbara A Hueter/DUB/EES@EES, Joe Hillings/Corp/Enron@ENRON, Jeffrey
Keeler/Corp/Enron@Enron, Greg Whalley/HOU/ECT@ECT, Cliff Baxter/HOU/ECT@ECT,
Mark E Haedicke/HOU/ECT@ECT, Kevin P Hannon/HOU/ECT@ECT, Kathleen E
Magruder/HOU/EES@EES, Kathleen Wagner/HOU/EES@EES, Kevin M
Presto/HOU/ECT@ECT, Lloyd Will/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect,
Richard Ingersoll/HOU/ECT@ECT, Charles Yeung/HOU/ECT@ECT, Janine
Migden/DUB/EES@EES, Dave Mangskau/Corp/Enron@Enron, Thomas S
Reichelderfer/DUB/EES@EES
cc:
Subject: Tennessee Valley Authority Plans New Natural-Gas Fired Plant

FYI
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 01/13/2000
08:55 AM ---------------------------

"Tracey Bradley" <tbradley@bracepatt.com> on 01/13/2000 08:15:04 AM
To: "Jeffrey Watkiss" <dwatkiss@bracepatt.com>, Christi L
Nicolay/HOU/ECT@ECT, jharts@enron.com, Sarah Novosel/Corp/Enron@ENRON
cc:
Subject: Tennessee Valley Authority Plans New Natural-Gas Fired Plant

I've highlighted the portion of the article that discusses Enron.

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

Tennessee Valley Authority Plans New Natural-Gas Fired Plant
Dave Flessner , Chattanooga Times/Free Press

( January 13, 2000 )

Jan. 13--The Tennessee Valley Authority is preparing to locate its first new
power plant in a generation.

But unlike the massive and controversial nuclear plants TVA proposed in the
1960s, the newest power generating facility will be much smaller and less
controversial than any plant TVA has erected in the past half century.

TVA is proposing to build a natural gas-fired plant on farmland in Haywood
County, Tenn., about 40 miles north of Memphis. TVA has optioned to buy any
of three different farms near Brownsville, Tenn., to locate a plant capable
of generating between 1,000 megawatts and 1,700 megawatts of electricity.

The preferred plant size would be a Westinghouse unit costing TVA over $200
million and capable of generating 1,400 megawatts of power -- slightly more
than what each reactor at the Sequoyah Nuclear Plant produces at full power.

But the new plant will generate power less than 30 percent of the year when
TVA's power demand is at its peak.

"We need additional peaking power in the western portion of our service
territory and these sites are well located near natural gas pipelines and one
of TVA's 500-kilovolt transmission lines," said Roy V. Carter, project leader
for the proposed new plant.

Mr. Carter said the natural gas-powered plant won't have the pollution
problems of either coal or nuclear plants. The new plant would be the first
that TVA has ever built not on a river or lake. But the underground water
supplies should be adequate since the plant will typically operate only a few
hours a day, even during the summer and winter peak demand periods.

Environmentalists who have fought TVA's nuclear and coal plants in the past
are welcoming the switch to natural gas.

"We support TVA getting a larger share of generation from natural gas because
it is a much cleaner source of fuel," said Dr. Steve Smith, executive
director of the Tennessee Valley Energy Reform Coalition, a consumer and
environmental advocacy group. "We would hope that TVA will try to use these
type of plants to replace some of the dirtier coal plants, which are major
sources of air pollution in the Valley. These shouldn't just be used to
generate more and more power for TVA to sell without any type of demand
management strategy to also encourage consumers to use less electricity."

But TVA officials insist the extra power is needed just to keep pace with
rising power consumption in TVA's 7-state service territory. Electricity
consumption in the Valley -- already one of the highest regions in the
country -- is growing twice as fast as the national average.

TVA has signed option purchase agreements to buy power from other producers.
Enron has even built three natural gas-fired plants on the western edge of
the TVA territory. The energy company built a 475-megawatt peaking plant in
Brownsville, Tenn., last year near where TVA wants to build its newest plant.
Last year, Enron also began operations on a 475-megawatt plant in Caledonia,
Miss., and a 390-megawatt plant in New Albany, Miss.

"We will continue to buy power, when needed, from other sources," TVA
spokesman John Moulton said. "But we've found that in the crunch times in the
summer it is good to have your own power source."

A hearing on TVA's new plant is scheduled in Brownsville at 5:30 p.m.
tonight. But because the new plant is located in a rural area and will
generate only between 12 and 30 permanent jobs, it has not attracted much
public comment yet, Mr. Carter said.

The environmental review is expected to be completed this summer and the
plant should be in operation by June 2001.

-----

To see more of the Chattanooga Times/Free Press, or to subscribe to the
newspaper, go to http://www.chattimes.com
(c) 2000, Chattanooga Times/Free Press, Tenn.


Chuck,

This is a read-only file.  I'm unable to print it out to show to Greg.
Please provide me with a hard copy.  Greg doesn't read e-mail regularly.  I
keep an eye on this e-mail and print out things that require his immediate
attention.  You may want to deliver me hard copies of the P&Ls.

Liz

Chuck Ames@ENRON
02/02/2001 04:19 PM
To: Greg Whalley/HOU/ECT@ECT
cc:
Subject: 02/01/01 P&L

Greg,

Here's the P&L as of last night.  When I get the newest one I'll forward it
along.

Chuck


As a result of Jeff Nogid's request, here is a recap of the Morgan Stanley
situation:

(1)  Morgan Stanley Capital Group Inc.
 This is the entity for commodity trading.
 (i)  ECT has a Master Energy Price Swap Agreement dated 6/16/92
 (ii)  ECTRIC has an ISDA dated 3/2/99, but eff. 8/27/97

(2)  Morgan Stanley Capital Services Inc.
 Jeff Nogid requesting new master for fixed income transactions

(3)  Morgan Stanley International Limited
 This is the entity for equity trading.  Will Nogid or Kinneman ever need
this one?

Each of these companies has a different lawyer to negotiate the agreement.

Each Morgan Stanley entity might require a separate guaranty.  Anne Clark in
legal (Cap Services) will let me know.

I will put (2) in place.  Do you want to pursue upgrading (1)(i) or
addressing (3)?  Please let me know.  Thanks.  Sara


I just wanted to let everyone know our time line with respect to NGX:

May 31st - Press release to the industry that Enron's information will be included in the NGX Index starting July 1st, 2001 (Rob Milnthorp).

June 15th - Enron systems are in place to transfer data to NGX (Andy Zipper & Jay Web).

June 30th - NGX is tested and ready to go.

July 1st - Enron's data is included!!!!

If anyone needs help facilitating this process please coordinate with Chris Lambie (974 - 6780).

Regards,

Jon


A message addressed to you appeared to contain a virus. The message was
blocked. The subject line of this message may identify the virus.

You may want to contact the sender if listed here >> -
eadc@dc.energyadvocates.com - and request a re-transmission if you belive
important information was blocked. If no sender is listed, the sender did not
have a valid email address and it is unlikely the email had any legitimate
purpose.

 If you have questions, contact IT Security by email at compsec@pgn.com or at
503-464-7159, 8892 or 8555, or visit the website at
http://pgeweb/it_security/virus.htm


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/12/2001
02:27 PM ---------------------------

Vasant Shanbhogue
12/18/2000 03:14 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Wharton collaborative research

Here is a short note on potential research with Wharton.  Please review and
edit and then we can send some indication to the Wharton guys.    ----------

 The objective would be to define the amount of risk an enterprise can take,
and the difference between this and the actual amount of risk the enterprise
chooses to take based on the capital structure and reporting structure.  In
particular, one can view Enron as a hierarchy of companies, and assuming we
can separately quantify the risks of each unit, what framework would one use
to analyze risk at Enron?
  A related question is how one should represent risks in the different
units?  Risks may be of different types --- short-term volatility risk,
catastrophic risk, liquidity risk, etc --- what should one focus on for a
first cut?
 Another related question is to decide on the optimal amount of insurance
both at the unit level and the enterprise level, and relate the decision to
get insurance to the cost/benefit of insurance.


Notice # 01-366
October 31, 2001

TO:
All NYMEX Division members
All NYMEX Division cleating members

FROM:
J. Robert Collins, Jr., President

RE:
Introduction of EFS Trading in Natural Gas

The New York Mercantile Exchange, Inc., will begin offering tomorrow
exchange of futures for swap (EFS) transactions in the first step of its
plans to offer over clearing services to the over-the-counter (OTC) natural
gas market.

This plan will also include the introduction of large order execution in the
natural gas futures market and electronic trading of cleared natural gas
swaps and basis contracts.

We are delighted that we were able to expedite the introduction of this
instrument as the current climate in the natural gas market has served to
reinforce the necessity of credit intermediation.  The liquidity of our
market, combined with a clearinghouse that has half billion dollars
available to participants on each of the Exchange divisions through each
guarantee fund and the respective clearing members, put us in a unique
position to offer these services.

In addition, natural gas futures and options volume in 2000 reached the
equivalent of approximately 230 trillion cubic feet of natural gas and the
notional value of last year's transactions Exchange-wide totaled $3
trillion, or $14 billion per day.

EFS transactions will work similarly to exchange of futures for physical
(EFP) transactions.  Two parties will be allowed to privately negotiate the
execution of an integrated over-the-counter swaps and related futures
transaction on pricing terms agreed upon by the involved parties.  The
transaction must involve approximately equal but opposite side-of-market
quantities of futures and swap exposures in the same or related commodities
and will be permitted until two hours after trading terminates in the
underlying futures contract.  EFS transactions will be permitted to
liquidate, initiate, and transfer futures market positions between the two
parties involved in the transaction.  The Exchange will charge $10 per side
for each EFS transaction.  The clearing member representing each party will
be responsible to notify the Exchange of the amount and type of futures
contracts involved, the price at which the futures transaction should be
cleared, and the identity of the parties involved.

Forward Looking and Cautionary Statements
The New York Mercantile Exchange, Inc., has attempted, wherever possible, to
make statements in good faith , as of the date of this release, by using
words such as anticipate, believes, expects, and words and terms of similar
substance in connection with any discussion of its present and future
operations within the industry. Any forward-looking statements made by, or
on behalf of the Exchange, involve a number of risks, trends, uncertainties,
and other factors which may cause actual results to differ materially,
including; the Exchange=s receipt of the necessary Commodity Futures Trading
Commission approval; timely performance and cooperative effort of exchange
partners; and changes in financial or business conditions at the Exchange.


Kay:  Attached is the email I received from Steve Curlee.  Who is performing
legal/credit for Enovate?  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 10/03/2000 09:06 AM -----

	Sara Shackleton
	09/28/2000 10:14 AM

		 To: Kay Mann/Corp/Enron
		 cc:
		 Subject: FW: Enovate/PEC ISDA Materials

Kay:  What is this all about?  I don't know anything about "ENOVATE" .  Is it
an Enron company?  Sara.
----- Forwarded by Sara Shackleton/HOU/ECT on 09/28/2000 10:11 AM -----

	Steven Curlee@ENRON
	09/28/2000 09:29 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: FW: Enovate/PEC ISDA Materials

Sara, I am forwarding this to you because as you will notice your last name
has been misspelled.  I have been speaking with Peoples recently about the
potential sale of some financial options via Enovate.  This has brought up to
issue of the ISDA agreement.  I don't know if you are the one working on this
specific ISDA, but I got your name off a document showing you as the person
working in general on ISDA agreements between Enovate and third parties.

I will call shortly to insure you receive this, and one more to follow, and
that you are the appropriate person.  If you need to reach me, my extension
is 36900.

Thanks,

Steve
---------------------- Forwarded by Steven Curlee/Corp/Enron on 09/28/2000
09:19 AM ---------------------------

b.marozas@pecorp.com on 09/27/2000 05:37:59 PM
To: Sara.shackelton@enron.com
cc: Steven.Curlee@enron.com

Subject: FW: Enovate/PEC ISDA Materials

Sara,

We were trying to finalize the ISDA between PEC and Enovate.
Fred is going to be out of the office until Thursday, but I wanted to
forward the ISDA information he has been working on.
Based on the ISDA materials attached, do you know how close (best quess:
number of days, weeks or months) we are to finalizing the contract?

Thanks,
Brian

 <<MEH Schedule to Master Agreement v.1.doc>>  <<MEH-PEC Paragraph 13 to
Credit Support.doc>>

 <<MEH-PEC ISDA.doc>>  <<MEH-PEC Credit Support Annexy-bi.doc>>

 <<MEH-PEC Paragraph 13 Exhibit A.doc>>

  ----------
  From:  Jacobsen, Fred
  Sent:  Tuesday, September 26, 2000 10:43 AM
  To:  Marozas, Brian; Huprikar, Aparna
  Cc:  Nassos, John G.; Pokorny, Judy
  Subject:  Enovate/PEC ISDA Materials

  Attached please find drafts of the following ISDA documents
to be entered into between Enovate, L.L.C. and Peoples Energy Corporation:

  1. Schedule to Master Agreement
  2. Paragraph 13 to Credit Support Annex
  3. Exhibit A to Paragraph 13 to Credit Support Annex
  4. ISDA Master Agreement
  5. ISDA Credit Support Annex.

  Brian, please forward to me the contact information for the
person handling the negotiation of these documents on behalf of Enron.
Thank you, Fred.

  <<File: MEH Schedule to Master Agreement v.1.doc>><<File:
MEH-PEC Paragraph 13 to Credit Support.doc>>

  <<File: MEH-PEC ISDA.doc>><<File: MEH-PEC Credit Support
Annexy-bi.doc>>

  <<File: MEH-PEC Paragraph 13 Exhibit A.doc>>

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

 - MEH Schedule to Master Agreement v.1.doc
 - MEH-PEC Paragraph 13 to Credit Support.doc
 - MEH-PEC ISDA.doc
 - MEH-PEC Credit Support Annexy-bi.doc
 - MEH-PEC Paragraph 13 Exhibit A.doc


USA: Calif. allows SDG&E to strike bilateral power deals.

09/21/2000
Reuters English News Service
(C) Reuters Limited 2000.
SAN FRANCISCO, Sept 21 (Reuters) - California regulators on Thursday approved
an order allowing utility San Diego Gas and Electric to buy power through
bilateral contracts.
The utility had previously been mandated to buy all its power through the
Pasadena-based California Power Exchange.
The contracts can be for up to five years and must expire by December 31,
2005. The amount of power that can be bought is limited but a CPUC spokesman
could not immediately confirm details of the restriction.
Last month, the California Public Utilities Commission allowed the state's
other two investor owned utilities, Rosemead-based Southern California Edison
and San Francisco-based Pacific Gas and Electric to buy power on bilateral
contracts under similar terms.
Wholesale electricity prices have risen to record levels this year, resulting
in sharply higher power bills for SDG&E customers, who were the first in the
nation to pay market-based prices without a safety net.
The price spike for customers was exacerbated by a lack of hedging by SDG&E.
The CPUC's move to allow bilateral contracts is seen as part of an attempt to
encourage more hedging.
San Diego Gas and Electric is a unit of Sempra Energy , Southern California
Edison a subsidiary of Edison International and Pacific Gas and Electric a
unit of PG&E Corp .


Your father and I  have been reinvited to the Cassoulet dinner on February
16th - I just want to make sure no one has any plans that will interfere
with that!!

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


MINANA files of dec 2001 for FENNER has been loaded.Total number of records
are 29739.
However there exist large gap in the data,this is due to the turbines are
not containing full months data.For example some turbines are having from
10th dec were other have from 12th dec or 22th dec.Please look at the data
and let me know if any problems are there.


Enclosed you will find the attachment now...  sorry!

----- Original Message -----
From: Robyn Vermeil
To: Linda Lay  ; Kenneth L. Lay  ; Josh  Korman  ; Holly  Korman  ; Heather Herrold  ; David Herrold  ; Dad and  Sharon Herrold  ; Courtney Herrold  ; Beau Herrold  ; Wynay Benton  ; Wells, Tori  L.  ; Waverly  Evans  ; Virginia Bousquet  ; Tami  Zilberfarb  ; Susan Gardberg  ; Susan Banda  ; Stephen  Negri  ; Sherrie  Gibson  ; Sharon S. Lay  ; Rosalee  Fleming  ; Ronnie and Sabrina Limborg  ; Rick  Stephenson  ; Ray and Betsy Phillips  ; Randy Gray  ; Rachel / Mark  Negri  ; Pop-Pop  ; PHILLIPS_E_ASHLEY@LILLY.COM  ; Peter  Schmid-Kommerling  ; Nicoletta  ; Nicole  Zilberfarb  ; Nancy Chambers  ; Mike  Kirby  ; Mick Seidl  ; Michele Rupert  ; Michel Vermeil  ; Mary Jane  Sevink  ; Mary Elizabeth Bourne (E-mail)  ; Marlene Negri  ; Leslie  Flores  ; le curieux belfond  ; Keith Anderson  ;  Kathy  Hacker  ; Kate  and Didier  ; Karen Wing  ; Kara Howes  ; Julie Phillips  ; Joyce  Zylberberg  ; John  Duncan  ; Jimmy Martiradonna  ; Jimmy  Emerson  ; Jessie Johnston  ; Jessica Emerson Smith   ; Jeannot  and Brigitte Favereau  ; Jean Robert in Aspen  ; Jean Martial  Ribes  ; Jay  Rosenstein  ; Jane Blizzard  ; Jan Moss  ; Heidi Wade  ; Harry Reasoner  ;  francois  ; Felicia  Crowley  ; Eric  ; Emily Phillips  ; Dewey  Gaedcke  ; David Keezel  ; Christina Wing  O'Donnell  ; Christina Emerson  ; Ceron  ; Carol Lagasse  ; Brian Dalrymple  ; Brenda Duncan  ; Bill McMaster  ; Betty Jane  (E-mail)  ; Barb  VanDerVliet  ; Anne Lamkin Kinder  ; Andrej  Gruden  ; Alf
Sent: Monday, September 24, 2001 8:14 PM
Subject: Unreal!
Hello family and  friends.  I just received this message from, Youri, a friend of mine in  Europe.  He explains that this photo was apparently taken by a tourist  moments before the terrorist airline crash into the World Trade Center and that  the film/camera was found in the ruble and obviously developed.  If this is  real... can you imagine!!!!!!!!!  Totally disturbing, totally  unreal.
Robyn

From: MOYO PIERIMARCHI
To: Robyn
Sent: Sunday, September 23, 2001 3:39 PM
Subject: youri
Bonsoir Robyn
j'ai finalement r?ussit a faire l'attestation que  mon p?re devra sign?, j'aimerais avoir ton avis avant!
je pense que cela a l'air pas mal! mais je compte  sur ton avis! merci.
gros bisou j'attend ta r?ponse ciao!

p.s. je t'envoie aussi une photo  extraordinaire prise quelques instants avant la terrible catastrophe du  T.W.C.
prise par un touriste duquel les secouristes on  retrouvaient l'appareil photo dans les d?combres!!!!
hallucinant!!

 - missing.jpg


Hi Rob -

Ken said "If you'll prepare the remarks, I'll be happy to do this".

Rosie

Rob Bradley
07/19/2000 09:51 AM

To: Kenneth Lay/Corp/Enron@ENRON
cc:
Subject: Gathering Place Speaking Invitation

If you are inclined to accept this invitation, we could put together an
interesting talk on the importance of good mental health to business with
some national statistics and then segue into Enron's emphasis on wellness and
having fun in the workplace.  Our strategy and experience will be very
interesting to the group since it shows what a corporate leader is doing to
become the employer of choice in the marketplace.

You could expect a full house (around 400) for the talk.  If it fits into
your schedule, Jack Bowen said he would be delighted to be honorary chairman
of the event.

- Rob


Gerald,

This is the format, although we have not received an executed copy yet.

Russell

---------------------- Forwarded by Russell Diamond/HOU/ECT on 02/14/2001
11:35 AM ---------------------------

From:  Russell Diamond
     01/05/2001 02:48 PM

To: "McGeachie, Ryan" <RyanMcGeachie@aec.ca> @ ENRON
cc:
Subject: Re: AEC Guaranty - $25MM

Ryan,

One addition, please make sure you enter the Counterparty as "Enron North
America Corp."

Thanks
Russell

---------------------- Forwarded by Russell Diamond/HOU/ECT on 01/05/2001
02:43 PM ---------------------------

From:  Russell Diamond
     01/05/2001 02:45 PM

To: "McGeachie, Ryan" <RyanMcGeachie@aec.ca> @ ENRON
cc:
Subject: Re: AEC Guaranty - $25MM

Ryan,

I can confirm that this guaranty is acceptable and you can have it signed
off.  I received the Enron Corp guaranty amendments today and will be mailing
it to you today.

Thanks
Russell

"McGeachie, Ryan" <RyanMcGeachie@aec.ca> on 01/04/2001 11:51:55 AM
To: "'russell.diamond@enron.com'" <russell.diamond@enron.com>
cc:
Subject: AEC Guaranty - $25MM

I have confirmed that we are acceptable to your requested changes.  Please
confirm that the attached is acceptable and I will have it signed off.
<<Guarante AMUS by AEC.doc>>

Ryan McGeachie
Alberta Energy Company Ltd.
Credit Analyst
(403) 691-5794
(403) 290-8530 (Fax)
Email: ryanmcgeachie@aec.ca

 - Guarante AMUS by AEC.doc


Please see following details for Thursday's operational risk meeting:

Date: Thursday, January 11, 2001
Time: 1:00 - 4:00 PM
Place: Hyatt Regency Hotel
 "Regency" Room (up escalators to 2nd floor, next to gift shop)
Subject: Operational Risk
Attendees: All Energy Operations Managers and above (ENA, EIM, EGM)

Please note: If you are unable to attend for any reason, please contact Sally
at ext. 35926.

Thanks,
Patti x39106


Skilling will be speaking at the National Press Club next week.  He'll give
an overview of Enron's business, talk about what's going on in power markets,
and what should be done to fix the current problems.  California will get
covered as well.  Other than what we have already discussed, is there
anything Jeff should know or address in his remarks?


<<Memo re PGE Meeting.DOC>>   Please substitute this memo for the one
previously just sent to you.  Same memo, but method of sending the prior
memo caused it to lose some of its formatting.

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

This message contains information which may be confidential and privileged.
Unless you are the addressee (or authorized to receive for the addressee),
you may not use, copy or disclose to anyone the message or any information
contained in the message.  If you have received the message in error, please
advise the sender by reply e-mail @mofo.com, and delete the message.
Thank you very much.

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

 - Memo re PGE Meeting.DOC


As I understand it, if the escrow is funded tomorrow morning, the earliest
closing date would be May 2nd.

Kay


can we make it 10:30?

"Larry W. Bass" <lwbthemarine@bigplanet.com> on 09/04/2000 02:23:34 PM
To: jason <jason.bass2@compaq.com>, eric preston bass <Eric.Bass@enron.com>
cc:
Subject: Bonnie

Howdy. Bonnie will be here Thursday, for a week. If  you guys are available,
we thought we would take all to Brunch @ SWCC, 11 a.m.  Sunday. Girls are
invited. Let me know if you can make it and if your better  halves will
accompany you. Do so, please, by Wed., so I can make the  reservations.-Dad


Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 06/06/2001 08:49 AM -----

	Carol St Clair
	06/05/2001 03:32 PM

		 To: "Falconi, Jack (TIFS)" <Jack.Falconi@guarantygroup.com>@ENRON
		 cc: Jim Crump/Enron@EnronXGate, Ken Curry/Enron@EnronXGate
		 Subject: Re: IPPI ISDA - Response To 5/29 E-Mail

Jack:
Thanks for your e-mail.  I met with our credit people this morning and can
respond to some of the credit points raised in your May 16th memo:

1. With respect to item #2, I know of no case law on this point and our
credit group cannot agree to delete this concept from the Collateral
Threshold definition.

2. With respect to item #3, we can agree to define materially weaker the way
you suggested with  additional language that states that any drop below BBB-
also counts as a trigger.

3. With respect to item #4, we can agree to a definition tied to an objective
rate which my credit person is thinking about.

4. With respect to item #6, I'm waiting for my credit person to confirm that
your comment is correct.

5. I understand from your latest e-mail that no changes will be made to the
definition and use of affiliates in any of the agreements.

6. With respect to item #12, we can agree to increase our rounding amount to
$500,000 and to limit "returns" of collateral to once a week.  We cannot
agree to change  the frequency for requesting/delivering collateral.  Given
the high rounding intervals, we feel that unless there is a huge market
change, it is unlikely that collateral requests will be made every day.

7. With respect to item #14, there is no requirement to escrow cash
collateral that is being held and the Secured Party is free to do whatever it
wants to with the cash until the events in 13(g)(ii) occur, in which case the
cash collateral must be held by a Qualified Institution.

8. With respect to item #19, if we draw the entire amount of the LC and the
termination amount that we are owed is less than the LC amount, we would be
required under the documents to return any excess amount to you.  All we are
doing in an Event of Default situation is converting the LC into cash
collateral that we hold subject to the terms of the documents.

9. We can agree to make the chnages that you requested in item #18.

I still need some clarification on the point you were making in item #17 and
I will look at your other comments in today's e-mail and respond shortly.
Are you okay with the Enron and Inland forms of Guaranty?

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	"Falconi, Jack (TIFS)" <Jack.Falconi@guarantygroup.com>
	06/05/2001 02:07 PM

		 To: Carol.St.Clair@enron.com
		 cc: Ken.Curry@enron.com
		 Subject: IPPI ISDA - Response To 5/29 E-Mail

Please acknowledge receipt.  Thanx.

       <<IPPIISDA3.doc>>

 - IPPIISDA3.doc


Attention Blackberry User:

You are receiving this notification to alert you that e-mail services to your Blackberry device will be unavailable between the hours of  8:45 a.m. and 12 midnight CST on Sunday, November 25th for maintenance.  During this outage, email services to the Blackberry handheld will be interrupted, however, pin-to-pin paging will not be affected.  If you have additional questions regarding this outage, please contact the North American Resolution Center at 713-853-1411.

Thanks for your cooperation and understanding,

Enron Global Messaging


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 02/27/2001
01:50 PM ---------------------------

Stephanie Miller@ENRON
01/08/2001 09:40 AM
To: Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: Generation Plants Listing

---------------------- Forwarded by Stephanie Miller/Corp/Enron on 01/08/2001
08:41 AM ---------------------------

	From:  Julie A Gomez @ ECT                           01/05/2001 04:53 PM

To: Elizabeth Shim/Corp/Enron@ENRON, Stephanie Miller/Corp/Enron@ENRON
cc:

Subject: Generation Plants Listing

Here it is...

Julie  :-)


Need your help on the following: Each day we are delayed in finalising var,
p&L and positions because the UK must wait for a USD  interest rate curves
before submitting their data to Houston. I am also told that it is really not
necessary to wait for this curve and the data could be submitted close of
business London. Even if there was some minor inaccuracy from this method it
would be better than what we have now. This would greatly improve the
efficiency (by 4 to 6 hours) in reporting to senior management. Can you guys
initiate this change or get me to the right person there. Thanks, Rick