I will be there!!!

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


One note: recall that with respect to market manipulation, one of the most
common accusations focused on the problems caused by the PX manipulation the
utilities engaged in thanks to their monopsony (demand-side bidding) market
power.

Jeff

	Elizabeth Linnell
	01/26/2001 12:24 PM

		 To: Mary Schoen/NA/Enron@Enron, David Parquet/SF/ECT@ECT, Richard B
Sanders/HOU/ECT@ECT, John Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Margaret Carson/Corp/Enron@ENRON, seabron.adamson@frontier-economics.com,
Susan J Mara/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, Sandra
McCubbin/SFO/EES@EES, Steve Walton/HOU/ECT@ECT, Alan Comnes/PDX/ECT@ECT,
mday@gmssr.com
		 cc: Steven J Kean/NA/Enron@Enron, James D Steffes/NA/Enron@Enron
		 Subject: Urgent - Steve Kean to testify at Senate hearing, need info

Steve Kean will be testifying at the Senate Energy Committee's hearing on
Wednesday regarding California.  Steve and Jim Steffes asked me to contact
you for the following information.  I've listed specific requests for several
people, but am copying many more of you for your input as well.  Anything you
can provide by sometime on Monday will be appreciated!

Dave Parquet - Siting of new power plants in California.  Any insight you can
provide regarding the rules, the current climate, what would fix the current
situation, etc.

Richard Sanders - Steve thinks he might be asked about whether the market was
manipulated.  Please provide information on whether this was the case and who
the participants likely were.  What's the current climate regarding
sanctions, etc.?

Mary Schoen - Any information you can provide relating to air emission issues
in California, and specific details for our recommendations regarding air
emissions.

Steve Walton - The status on RTO West, Desert Star, Cal ISO and general
information on RO development.

Sue Mara - Specific ordering language requiring the utilities to buy only
from the PX.  Was it required through legislation or the CPUC, and what
exactly does it mean.  Who was involved in formulating the language?
Information on block forward markets.

Alan Comnes - A copy of the CDWR response and anything they might have
available regarding long term proposals from the government.

Dan Allegretti - We have the e-mail Jim sent regarding the UI deal.  Please
provide more specifics on the deal, and information regarding portfolio
management approach.

Thanks for your help!


Hi Kate,
A few quesions about this one.  Why is it no confirm?  Why is it entered so
funny (instead of just entering off-peak hours, it was entered strip by strip
for sundays, which makes it come over really strange on the confirm.) It's
not necessarily wrong, but whoever entered it needs to know that there's a
much easier way to enter off-peak deals.  And finally, who is the contact?
Thanks so much for your help!  Hope you had a great weekend!
Kim


NewEnergy, Inc. has changed its name to AES NewEnergy, Inc.  This is a name
overlay in GCP.


Here is an additional paragraph from ENA legal which I will add.

Under the gas contacts of ENA, a diversion of gas as a result of governmental
action would likely be an event of force majeure excusing the performance of
ENA.  As an aside, you should note that the vast majority of ENA's gas
business involves deliveries to its customers at various city gates.  ENA has
very limited exposure to transportation or pipelines owned by local
distribution companies.


Tod,

I have no interest in the JPM product. I like to manage my own investments as
a hobby
(expensive as it may be).

Vince


Hello guys:

Listed below is an email from Osman Sezgen, a former
Research employee.  He is in California and will not
be returning to Houston and wants to turn his laptop
and blackberry into the San Francisco office.

I just needed to be sure that the Research Group was
given credit for it.

If you have any questions, please let me know.

Regards,

Shirley Crenshaw
713-853-5290

-----Original Message-----
From: Osman Sezgen [mailto:osezgen@yahoo.com]
Sent: Wednesday, January 30, 2002 2:50 PM
To: Crenshaw, Shirley
Subject: My Blackberry and Computer

Shirley,

I would like to return the Enron equipment that I have
to the San Francisco Office. Could you check with the
appropriate department to whom I should give the
equipment at the San Francisco Office.

I know that April Hrach is the Administrative
Coordinator at the SF office and she deals with the
equipment issues. Please ask the appropriate
department to give me a name of a person from the SF
office and also notify that person.

Here is the equipment list:

(1) Blackberry (14879) 1-877-455-1927
(2) Laptop     (40115)

Regards,
Osman Sezgen

__________________________________________________
Do You Yahoo!?
Great stuff seeking new owners in Yahoo! Auctions!
http://auctions.yahoo.com


Start Date: 1/3/02; HourAhead hour: 22;  HourAhead schedule download failed. Manual intervention required.


Anne,

We will need to add a message to the email that we send out to the
publications this bidweek.  Let's get together to discuss the text.  We have
added new products that will need to be matched with their respective Index
postings.

Thanks,
Mike


I think the National Fuel is local production.  I'm don't know how you would
swing this volume.


Start Date: 1/27/02; HourAhead hour: 12;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012712.txt


Krishna,

Please, take a look.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/12/2001
01:50 PM ---------------------------

Lana Moore <Lana.Moore@nesanet.org> on 02/07/2001 10:53:05 AM
To: Nesa Members <NESAMembers@nesanet.org>
cc:
Subject: Technical Training at the Houston Energy Expo!

Technical Training
in conjunction with the
HOUSTON ENERGY EXPO

MARCH 20 - 21, 2001
Hyatt Regency Hotel - Downtown

We are offering:

Fundamentals of Electricity
Basics of Risk Management
Natural Gas - Wellhead to Burnertip

There are only 25 spots in each class, so sign up today!

Go to www.nesanet.org <http://www.nesanet.org>  , in Educational Programs
each class is listed with details and a registration form.

Member price is $545 per person.
Non-member price is $745 per person.

If you have any questions, please give me a call!!

Lana Moore
(713) 856-6525


Greg,

 I'm sure that Liz has alaredy informed you that I've called a couple
of times to speak with you.  My reason for calling is that I am currently
working on my applications for business school and as I'm sure you can
appreciate, recommendations are a very important part - since you attended
Stanford yourself.  I remember speaking with you about graduate school a
while back when I was in Houston, and the words "it's a crap shoot" still
stick in my head.  That's what you called the application process and I'll
never forget the quote.  As I plan to apply, I will most definitely see
first-hand how true these words are.

 In any event, I need three people with whom I have forged great
relationships with in my professional and academic career(s) who would be
able to write me a "first-class" recommendation.  I feel that you are
definitely one of these people.  I still hope that Enron would open an
extensive presence in New York; I would must rather be there.  I really
liked what I did; unfortunately it was just too far from home.

 I would really appreciate it if you would accept my request to write
a recommendation on my behalf.  I realize that you are probably very busy.
Although I'm sure you are willing to help me out in this regard, please
advise when I should forward the recommendation form(s).  Right now, I am
exclusively applying to Harvard for the January deadline, since it is really
where I would like to get my MBA.  The form basically consists of 6-10
questions (some are optional) that asks how well you know me (the
candidate), in what capacity you know/knew the candidate and what you think
about me.  Rather logical, right - after all it is a recommendation letter.
An electronic copy is attached to this e-mail that can be printed for your
reference.  Thanks again, Greg.  Looking forward to hearing from you.  My
contact information is attached below.  Please feel free to call me anytime
on the mobile phone - I mean this.

> -Tabish
>
>
>   <<HBS Recommendation Form.pdf>>
>
> Tabish Rizvi
> The Capital Markets Company
> T +1 212 284 8740
> F +1 212 284 8601
> Mobile +1 917 216 3329
> e-mail mailto:tabish.rizvi@capco.com
> web http://www.capco.com/
>

************************************************************************
The information in this email is confidential and is intended solely
for the addressee(s).
Access to this email by anyone else is unauthorised. If you are not
an intended recipient, you must not read, use or disseminate the
information contained in the email.
Any views expressed in this message are those of the individual sender,
except where the sender specifically states them to be the views of
The Capital Markets Company.

http://www.capco.com
***********************************************************************

 - Recommendation Form.pdf


I attach a brief overview of the May 15 conference.

Landmark Conference. The conference, to be held on May 15 and 16, will be the
most significant conference on energy sector deregulation in Japan this year.
We expect the Japanese press to provide extensive coverage of the conference.

Enron Orchestrating. The conference is being organized by Marcus Evans
(formerly ICM), a reputable international conference organizer, and is being
orchestrated by Enron. We are driving the timing, the seminar content and the
speakers behind the scenes.

Timing. The conference is timed to coincide with the commencement of
government deliberations on further competition reforms to Japan's
electricity market. In addition, Enron Japan will have just released a
comprehensive white paper on recommended reforms to the Japanese electricity
market.

Speakers. Mr Skilling would have the first key note speech on the first day.
He would be followed by the head of the Ministry of Economy, Trade and
Industry - the Ministry responsible for the energy sector.

Other scheduled speakers include: The president of NTT; the President of
Tokyo Electric Power Corporation; a FERC Commissioner; a senior European
regulator; former Prime Minister Hashimoto, as chairman of the Natural Energy
Promotion Association; the Dean of the Tokyo University Graduate School of
Financial Engineering; and senior management from Toyota Motor Corporation
and Asahi Chemical Corporation.

Other Meetings. We would propose meetings with: the press -  one on ones
and/or, if appropriate, a press conference; senior Government officials
(Ministerial level); senior commercial relationships (Chairman/ CEO level) eg
Orix Corp., Tokyo Electric Power Corp., Itochu Corp., Hitachi Group, Kawasaki
Group.

I look forward to hearing from you.

Kind regards

Maureen McVicker
02/22/2001 01:13 AM
To: Nicholas O'Day/AP/Enron@Enron
cc:

Subject: CONFERENCE INFORMATION

Nick:

Steve would like you to send to him and Sherri Sera the information about the
May 15th conference.

Sherri said that Jeff Skilling might be able to make the conference.  He
needs to be back in the states on May 17th - so she will need to check on the
flights.

I'll let you know as soon as they have decided for sure.

Thanks.


fyi
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 02/09/2000
10:53 AM ---------------------------

"Swanstrom, Bill" <BSwanstrom@lockeliddell.com> on 02/08/2000 04:44:30 PM
To: "'richard.b.sanders@enron.com'" <richard.b.sanders@enron.com>
cc:
Subject: FW:

-----Original Message-----
From: Swanstrom, Bill
Sent: Tuesday, February 08, 2000 4:39 PM
To: 'richard.sanders@enron.com'
Subject:

Good to see you at lunch.  Coincidentally, I got back to my office and had
several emails from some of our lawyers up in Dallas, saying we had been
approached by Duke about representing them in a large gas litigation matter
brought against them by Enron.  I, of course, told them "HELL NO."  But let
us know if Susman screws it up, and you need us to bail you out.


i will not tell you when i fell asleep.   :)  it is getting cold outside.  what time is your dinner tonight mr. big shot!  :)

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, November 27, 2001 8:59 AM
To:	Nelson, Michelle
Subject:	RE:

im ok i didnt go to sleep until 2:30 last night but i feel pretty good, dont get so stressed, it will all work out in the end

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Tuesday, November 27, 2001 8:52 AM
To:	Maggi, Mike
Subject:	RE:

i can't deal with this crap.  i'm just not going to care anymore.  how shitty is that.  i know, but i will tell you tomorrow.  whatever.  anyway, how are you doing?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, November 27, 2001 8:50 AM
To:	Nelson, Michelle
Subject:	RE:

i know im only kidding, tell him its your bday and you want to know now

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Tuesday, November 27, 2001 8:49 AM
To:	Maggi, Mike
Subject:	RE:

what are you talking about!  so, errol told us that he will talk to us individually tomorrow about whether we will be leaving or not.  that was a nice greeting.  you haven't seen me today.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Tuesday, November 27, 2001 8:46 AM
To:	Nelson, Michelle
Subject:	RE:

you look a little different, i cant figure out what it is

 -----Original Message-----
From: 	Nelson, Michelle
Sent:	Tuesday, November 27, 2001 8:43 AM
To:	Maggi, Mike
Subject:

hi!


----- Forwarded by David M Gagliardi/TTG/HouInd on 09/18/01 08:08 AM -----

                    "Gagliardi,
                    Michael"             To:     "'dgagliardi@reliantenergy.com'" <dgagliardi@reliantenergy.com>,
                    <mgagliardi@un        "'david.ricks@spotplus.com'" <david.ricks@spotplus.com>,
                    ocal.com>             "'tony.a.rogers@fritolay.com'" <tony.a.rogers@fritolay.com>
                                         cc:
                    09/18/01 07:18       Subject:     FW: True Orange E-Mail/Fax #93
                    AM

> -----Original Message-----
> From:         TruOrange@aol.com [SMTP:TruOrange@aol.com]
> Sent:         Monday, September 17, 2001 10:18 PM
> To:           TruOrange@aol.com
> Subject:           True Orange E-Mail/Fax #93
>
> True Orange E-Mail/Fax Service
> Volume 9, E-Mail/Fax #93, Monday, September 17, 2001
> Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
> Phone
> 512-795-8536
>
> Horns Favored Over Cougars by 30; Tech Game Set for 6 p.m. on Fox TV
>
> The Longhorns are 30-point favorites over the Houston Cougars for their 8

> p.m. game Saturday in Houston, but UT coach Mack Brown said Monday he
> anticipates a close game.
> Brown said the Cougars' only game, a  21-14 loss to Rice, is misleading
> because the Owls have their best defense in years. He said the Longhorns
> will
> need to be  ready to play all out.
> He also said sophomore Ivan Williams will be the starting tailback and he

> said freshman Cedric Benson also will see early action at tailback. "Ivan

> deserves a chance to be the first one out there," Brown said. "He has
> played
> well for us this season."
> Brown said the Cougars will be the first of three straight all-out
passing
>
> teams the Horns will face this season. Texas' next game is the one
against
>
> Texas Tech and then comes the big Dallas shootout with defending national

> champion Oklahoma.
> The Texas-Texas Tech game in Austin September 29 has been set for a  6
> p.m.
> kickoff and will be nationally televised on Fox Sports Net.  The game
> already
> is a sellout.
> * * * *
> One of the Longhorns' prize football commitments, DT Earl Anderson of San

> Marcos, has been suspended from the team for two games after he and a
> teammate - QB Jerry Montemayer - were arrested outside an Eckerd's Drug
> Store in San Marcos and charged with conspiring with two young female
> Eckerd
> cashiers to leave the store with merchandise they had not paid for.
Police
>
> said Anderson and Montemayor attempted to leave the store with unpaid
> merchandise valued at $274.89.
> The charge is a misdemeanor.
> San Marcos coach Bruce Bush said Montemayer has been dismissed from the
> team
> because it was his second violation of team rules, while Anderson drew a
> two-game suspension because it was his first violation.
> * * * *
> QB Billy Don Malone of Paris North Lamar completed 8 of 14 passes for 163

> yards and two touchdowns and also ran for 58 net yards to lead his team
to
> a
> 35-20 victory over West Mesquite Friday. Malone's two touchdown passes
> were
> for 28 and 32 yards. He has committed to Texas. He has 430 yards passing
> in
> his team's 1-1 season.
> When I asked him what he considers his strongest suit, Malone said he
> feels
> like he has a strong arm and quick feet, but he said his biggest asset
> "might
> be my vision. I'm lucky to have a coach who stresses the need to see the
> entire field, and I work hard at that. I try to look at as many of my
> receivers as possible before throwing the ball."
> RB Albert Hardy of Galena Park, the state's top running back and a top
> target
> of Longhorn recruiters, rushed for 278 yards and scored two touchdowns in
> a
> 21-0 romp past Crosby.
> Most of the top defensive ends in this year's recruiting class are more
> physical than fast, but two of the best speed rushers around are juniors
> who
> will headline next year's class of ends. They are Jarvis Moss, 6-5, 220,
> 4.5,
> of Class 4A power Denton Ryan, and Bruce Davis, 6-3, 230, 4.6, of  Clear
> Creek, who is the son of a former Houston Oiler star. . . LB Ta Ta
> Thompson,
> 6-3, 225, 4.5, of Garland, is another junior star who will be a top
> national
> recruit . . . Another junior who is drawing a lot of attention is RB
> Richuel
> Massey, 5-10, 200, 4.5, of Hillsboro, who also is one of the state's top
> power lifters. He has the speed to run outside and the power to run
> inside. .
> . I saw another top junior Friday night in Lufkin. He is Terrance Parks,
a
>
> 6-4, 220-pounder with 4.5 speed who plays TE, WR and QB for the Panthers.
> He
> was chosen the Lufkin offensive MVP in the 33-17 loss to national
> powerhouse
> Shreveport Evangel.
> * * * *
> BASKETBALL RECRUITING: The Longhorns are in on five national top 50
> players,
> including 6-8 forward Brad Buckman of Austin Westlake and 5-11 combo
guard
>
> Bryan Hopkins of Dallas Lincoln. Other top prospects who are considering
> Texas are 6-4 shooting guard Rashad Anderson of Lakeland, Fla., 6-4
> shooting
> guard DeAngelo Alexander of Midwest City, Okla., and 6-4 wing Antonio
> Lawrence of Jacksonville, Fla. The Horns have good shots at Buckman and
> Hopkins, but they are long shots with the other three.
> * * * *
> My next e-mail/fax will be whenever events warrant.
>
> The True Orange E-Mail/Fax Service includes  at  least  99 fax/e-mails  a

> year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
> 26
> newsletters and is published weekly during football season and twice
> monthly
> during most of the other months. It costs $45. Save by subscribing to
both
>
> for $130 (or $110 if you take the faxes via E-Mail  or $99 if you take
> both
> services via E-Mail). Send check  to address at the top of page. I also
> update my 900 number - 1-900-288-8839 - daily with recruiting news. My
> E-Mail address is: truorange@aol.com.


The house thing is a tough call.  It's hard to say.   If you're not in any
hurry to buy, the summer should give
you a good indication of continuing energy problems.  I personally think that
the problem will come and go
for a while, but a lot depends on how California's legislature deals with the
situation.  I have no idea what
they'll end up doing - they've acted pretty poorly already.

What's your time frame on a house?  If you're only concern is that prices are
at their highest level in the last
decade, I wouldn't worry too much about that.  It's impossible to time the
market -  who would've thought
San Francisco's housing prices would be at these current levels.   There are
also a lot of intangibles associated
with home ownership as your aware of.

I would be concerned about the energy situation, so just try to keep abreast
of it.  Also, you could call me if you
have any questions.  I'll try to help the best I can.  Take care and tell Kim
and Kendall I said hi.

Kevin

BriLowery@aol.com on 01/22/2001 10:48:39 PM
To: Kevin.Ruscitti@enron.com
cc:
Subject: Everythings Big in Texas?

Chump!
This energy crisis is making me question  my timing on buying a house.  I'm
thinking if the economy tanks the housing prices will dip a little.  They
just crack the highs of 1989 this last two years.  Any opinions?

I start my Texas travel in February.  I'll be in Dallas for the first full
week and back in March in Dallas again.  Starting the end of March I'll be
there almost every week for about 6 months.  You'll be seeing more of me than
you want.  When we get closer to March I'll give you a buzz to set up some
dates.
Sorry about the Kendall picture, I'll try again.

Take care, B


Mark, our commercial people have reviewed your proposed changes to the first
of the Canadian EOL Power Products.  As stated in the message below, we are
fine with those changes.  Also, John addresses your question on price
modifications.  Doesn't the ISDA already contain language that will allow for
post-payment adjustments?  I wouldn't have thought we would need to address
that issue in the long description.

I would suspect that the same changes would flow through to the other two
product descriptions, as they are all very similar, but would ask that you
have a look at the other two descriptions and provide any comments on them.

Thanks

Greg
---------------------- Forwarded by Greg Johnston/CAL/ECT on 10/23/2000 08:25
AM ---------------------------

John Zufferli
10/23/2000 07:12 AM
To: Greg Johnston/CAL/ECT@ECT
cc:
Subject: Re: EOL Power Products

The wording looks fine to me.  As fas the price modifications go, as I said
before we can extend the payment dates to the end of the month following a
Determination Period or would put language in the document that enables us to
settle up after payments in the event a restatement occurs.


---------------------- Forwarded by Stinson Gibner/HOU/ECT on 02/13/2001
04:37 PM ---------------------------

Stinson Gibner
02/13/2001 04:36 PM
To: Nick Bambos <bambos@stanford.edu> @ ENRON
cc:
Subject: Re: visit to Houston

Nick,

Friday, March 9 seems to be better for Jim Fallon.    We are tentatively
setting meeting with him, Paul Racicot, and probably Arshak Sarkissian who is
heading the IP trading effort.   Let me know if you would like to give a
presentation so we can reserve a room and send invitations.

It will be fun to see you and Giuseppe again.  I am looking forward to your
visit.

Regards,

Stinson

Nick Bambos <bambos@stanford.edu> on 02/09/2001 11:33:33 AM
To: Stinson.Gibner@enron.com
cc: gappy@stanford.edu, cope@csli.stanford.edu
Subject: Re: visit to Houston

Hi Stinson,

Eventually, the team here (Giuseppe, Eric, myself) has converged to two
possible dates to propose for a visit:

1) Friday, March 2
2) Friday, March 9

How do these look on your side?

We'll structure the agenda immediately after we fix the date.

I look forward to seeing you again.

Best,
Nick

Stinson.Gibner@enron.com wrote:
>
> Nick,
>
> I hope things are going well and you are not staying too busy.  We should
> start planning for your next trip to Houston, as I'm sure your schedule
> will be getting full very soon.     Perhaps you could give the people in
> Enron Broadband an overview of the areas of interest within your research
> group.   I'm sure we could also benefit from you views of how the current
> technology is evolving.
>
> Are there certain dates which would potentially work for you?   Please let
> me know by email  or give me a call at 713 853 4748.
>
> Looking forward to talking with you.
>
> --Stinson


MidAm advised us they intend to call the enforcement hotline, probably today,
to get enforcement staff involved in resolving the Carlton timing problem
(i.e., the absence of an order approving or not approving the settlement).
If Midam does so, Enforcement will then contact Northern for a
response--probably Dari or MKM or I, but who knows who they'll call.
If they do, the following bullets are important to convey as our preliminary
response to MidAm:

1.  Midam, and all of our customers, are aware that a Commission order on the
June 2, 2000 Settlement is necessary before the precise flow obligation for
this Nov-March period can be determined.  The flow obligation for sourcers
like MidAm will be slightly higher--by about 3%--if the settlement is
approved.  For all customers that have asked what the precise flow obligation
numbers would be under the two scenarios, settlement approval or settlement
non-approval, we have given that information.  We gave that information to
MidAm also.  We can't file the tariff sheets setting out the specific number
for this heating season until the Commission addresses the settlement.

2.  The true financial impact of the current uncertainty on MidAm is
minimal.  We believe many of the sourcers have locked in their supply based
on the lower flow obligation number, but with an option to increase their
purchase quantity if the Commission approves the settlement.  MidAm may have
done that, but we don't know.  If not, and if the Commission approves the
Settlement, their only real "cost" would arise if they have to buy the
additional flow obligation volume--about 1100 MMBtu/d for MidAm--now at a
higher price than they would have paid if they bought it earlier when they
locked up the bulk of their flow obligation supply.    Given the large drop
in gas prices the last several days, there may not be any increased cost.

3.  The bottom line is that we really need an order on the Settlement.  The
majority of Northern's customers support it as a fair solution to the Carlton
problem.  MidAm is the only opponent that has raised substantive issues.
MidAm is clinging to a financial windfall it gets under the old Carlton
mechanism and has no reason to oppose the settlement other than preserving
that windfall.

That's the end of the proposed script.  The last bullet may go to far, but I
like it.  Frank and Steve, MKM suggested that you guys get Doering and Gorak
and others to call FERC (hotline or otherwise--I don't think it matters) and
express their concern that the order is not on the agenda.  DF


To all G7 clients,

We are pleased to see that SOMEONE is reading our survey...hope you are too.

Best regards,

Jane Hartley
CEO
G7 Group, Inc.

CONSUMERS TOO AFRAID TO SPEND

By JOHN CRUDELE
----------------------------------------------------------------------------
------

November 13, 2001 -- CONSUMERS are talking tough and optimistic, but acting
weak and glum.

That's the big problem in the American economy right now. And things like
yesterday's plane crash - whether caused by terrorism or not - are likely to
aggravate that situation.

The dual personality being exhibited by Americans is bothering the Federal
Reserve, whose interest-rate cuts won't be nearly as effective if consumers
are too scared to borrow money. I spoke with a source of mine who is
familiar with the Fed's thinking and he tells me that monetary authorities
are concerned, as well as perplexed, by consumers' unwillingness to part
with a dollar even as they are feigning confidence.

In particular, Alan Greenspan's outfit is troubled by a research report
dated Oct. 18 that was conducted by an independent Washington outfit called
G7 Group. The group had the Princeton Survey Research Associates interview
1,045 adults between Oct. 8 and 10.

This poll was given to me by someone close to the Fed.

The survey found that post-Sept. 11, Americans were putting on a good front.

For instance, 66 percent of the people polled said that now is a "good time"
to purchase a car or a house, but 63 percent said they "did not feel like"
making a major purchase.

Only 41 percent of the respondents felt like shopping for clothes and 75
percent felt comfortable buying only necessities like groceries.

Consumer confidence has been dropping since before the Sept. 11 terrorist
attacks. But the current level of confidence could be greatly overstated
because it measures what people are saying and not what they are doing.

And the Princeton Survey shows that consumers are talking a good game but
buckling when it comes to taking an economic turn at the plate.

Not surprisingly, job security is the chief concern, although Americans
refuse to admit it. Even though the U.S. lost 415,000 jobs last month and
our unemployment rate jumped sharply to 5.4 percent, more than 70 percent of
those surveyed said they felt the same or more optimistic than they did a
few months ago.

The Fed cut interest rates for the tenth time last week. Another rate cut is
expected in December. The Fed made an even bolder move two weeks ago when it
announced that it was going to stop selling 30-year government bonds.

The result was that interest rates on long bonds came down sharply, putting
them more in proportion with recent rate reductions. As I've said in
previous columns, the long bond has been a nuisance for the Central Bank
because it hasn't declined as much as expected. This has caused things like
mortgage rates to remain higher than they could have been.

The G7/Princeton survey explains to the Fed why its interest rate strategy
hasn't been working. But it doesn't necessarily explain why - as the
surveyors concluded - "the Sept. 11 attacks opened a chasm between what
Americans are thinking rationally about the economy and what Americans are
feeling as they now confront economic decisions."

What will yesterday's incident do to confidence?

That's anyone's guess. But unless the government quickly explains what
happened to the public - and that's unlikely in a crash investigation like
this - then Americans are likely to keep up their tough facade while being
weak in the knees.

Over the last decade America's mood has depended a lot on how Wall Street
was feeling. The stock market dipped sharply right after yesterday's plane
crash, but snapped back.

The Federal Reserve figures, I'm told, that if interest rates stay down and
the stock market remains stable, then Americans will eventually regain their
confidence.

Let's hope so. But if you are investing in a stock market that is this
overpriced, you should understand that the risks are great. And they are
getting greater.

-John Crudele, NY Post, November 13,2001


Jeff,

Did you allow me access to all gas reports on Executive reports viewer?  Let
me know.

Thanks,
Mike Grigsby


Hi Vince,

 I spoke with Ray again, and he seems to have the background necessary to
work with the insurance group here.
He is not an actuary, but he can work with data.  Would you mind calling him
on the phone sometime next week?
Please let me know what time you would call him, so I can let him know.  Once
you speak with him, then maybe we can
bring him down for interviews, if you think it appropriate.

His business phone number is 816 889 4417

Thanks,
 Vasant

---------------------- Forwarded by Vasant Shanbhogue/HOU/ECT on 01/07/2000
11:01 AM ---------------------------

"Spudeck, Ray E. MS-RES" <rspudeck@naic.org> on 12/29/99 02:24:09 PM
To: Vasant Shanbhogue/HOU/ECT@ECT
cc:
Subject: My resume

Vasant,

I enjoyed our telephone conversation this morning.  From our conversation,
it sounds like Enron is moving out on the cutting edge of risk transfer and
insurance finance.  In my mind, there seem to be a myriad number of
interesting opportunities moving forward.  As well, I see a number of issues
that would need to be resolved.  Frankly, I find that quite exciting.  I
left academics largely because I wanted to move into a more "front line"
career. While I've enjoyed my work here at the NAIC, it is still not where I
ultimately see myself.  I gathered from your comments some concern about my
being too senior in the organization.  If I am interpreting you correctly,
you are concerned about hands on technical work.  I enjoy that immensely and
some of the strengths I bring to the table are the ability to think
creatively about solving financial problems and the the ability to make data
tell the underlying story.

I look forward to talking to you next week.  I just found out that our
office building will be closed Monday, so I will not be in until Tuesday
a.m.

Ray Spudeck
Sr. Research Associate
(816)889-4417
rspudeck@naic.org

 <<resumeRES.doc>>

 - resumeRES.doc


calendar - fyi
---------------------- Forwarded by Steven J Kean/NA/Enron on 05/04/2001
03:08 PM ---------------------------

Jeffrey Keeler
05/03/2001 10:48 AM
To: Steven J Kean/NA/Enron@Enron, Rob Bradley/Corp/Enron@ENRON, Richard
Shapiro/NA/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Susan
Worthen/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marc Phillips/OTS/Enron@ENRON,
Henry Van/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gavin
Dillingham/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gus Eghneim/Corp/Enron@Enron,
Mark Palmer/Corp/Enron@ENRON, Ann M Schmidt/Corp/Enron@ENRON, Kelly
Kimberly/Enron Communications@Enron Communications, Catherine
McKalip-Thompson/Enron Communications@Enron Communications, Lauren
Iannarone/NY/ECT@ECT
cc:

Subject: Emissions Strategy Meeting

Sent by:  Lisa Jacobson, Environmental Strategies
___________

PLEASE LET US KNOW YOUR AVAILABILITY!

The Environmental Strategies Group will convene an "Emissions Strategy
Meeting" in mid-May to discuss global emissions issues -- such as climate
change and U.S. multipollutant legislation -- and explore some of the
potential business opportunities for Enron commercial groups.

The primary objectives of the session are to 1) provide you with the latest
information on emissions regulation, markets, and Enron's advocacy efforts
worldwide and 2) receive feedback on your commercial interests and input on
policy options so that we may develop the best business and policy strategies
for Enron in both the short and long term.  We invite you or a member of your
group to participate in this important strategic discussion.

Our target dates are May 16, 17 or 18 in Houston (likely time is 10 a.m. - 2
p.m.).  Please respond immediately with your best available dates so we can
finalize our arrangements.

Please review the attached invitation and preliminary agenda.  If you have
any questions or suggestions in advance of the meeting, do not hesitate to
contact me of Jeff Keeler.

We look forward to your participation.

Lisa Jacobson
Manager, Environmental Strategies
Enron
(202) 466-9176


Dear Eric,  We'll have live reports from Capitol Hill on the latest Enron hearing as the Senate Energy Committee takes its first look at the energy-related questions raised by the company's collapse. Among witnesses scheduled to attend are Federal Energy Regulatory Commission Chairman Pat Wood, Commodity Futures Trading Commission Chairman James Newsome, and Vincent Viola, the head of the NYMEX. Lawmakers are deciding whether new legislation changes may be needed in the aftermath.     A legal fight is brewing between the White House and the General Accounting Office over the work of Vice President Cheney's energy task force.  Cheney is refusing to release more details on with whom the task force met and the substance of those talks.  The head of the GAO says he may be forced to file a lawsuit as early as Wednesday to obtain the information.     Finally from Washington, President Bush will deliver his State of the Union address Tuesday evening.  The Washington bureau will look at what we can expect from the speech regarding energy policy.   It's earnings time, and we'll continue to check in with companies from the Houston bureau.  On Tuesday during the 1:00 p.m. ET newscast, Parker Drilling Company President and CEO Robert Parker, Jr. joins us to discuss his company's fourth quarter 2001.  Also, Merrill Lynch-Houston Director Carl Kirst is stopping by during the 4:00 p.m. ET newscast to bring us an analysis of a compilation of earnings, including Williams and Dynegy.     We'll have more earnings reports from Tulsa as well - Williams Energy Services President and CEO Steve Malcolm will bring us his numbers first-hand from ENL headquarters during the 10:00 a.m. ET newscast.     Is fuel cell technology moving fast enough?  In Tuesday's special ENL Team Report, we'll take a look at fuel cells, their development, and potential for use.  Houston and Sacramento profile the technology, and talk to those working with it already.  West Coast Correspondent Kym McNicholas goes into the desert, where researchers are working hard to make fuel cells more practical for consumers.  From our Houston bureau, Correspondent Kim Benestante shows where fuel cells are actually being used.  The technology is being developed on the Gulf Coast, and is being put to use in Alaska.  Don't miss this ENL Special Report on Tuesday.    Closing Prices for Monday, Jan. 28, 2002    Crude: $20.05/bbl +$0.06   Unleaded: $0.5811/gallon -$0.0017   Heating Oil: $0.5313/gallon -$0.0060   Gas: $1.908/mmBtu -$0.129   Fwd uE(Feb.): $3.36/mmBtu -$0.10   Keep in mind things are subject to change at a moment's notice. Occasionally guests have to reschedule or change time slots.  We'll continue to do our best to keep you updated on future interviews and events.     Be sure to watch our newscasts every business day - 9 a.m. to 5 p.m. ET, at the top of each hour.

	 	Jay Rickerts, EnergyNewsLive.com Anchor  View today's Energy Wrap Video Windows Media Player: 56K  |  100K  |  300K  Real Player: 56K  |  100K  |  300K  (Requires Windows Media Player or Real Player )   Experience all that Williams Energy News Live has to offer!   If you are receiving this letter for the first time and wish to continue, subscribe now    To stop receiving this letter, unsubscribe now    If you are having trouble receiving this e-mail, please let us know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Comments? Suggestions? Let us  know  or  call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST.    Copyright 2001 Williams Energy News Live, LLC. All  Rights Reserved.


========================================================
From KHOU-TV's Dr. Neil Frank & Reliant Energy W.A.R.N. :
========================================================
WTNT72 KNHC 260829

SPFAT2

SUBTROPICAL STORM TWO PROBABILITIES NUMBER   7

NATIONAL WEATHER SERVICE MIAMI FL

5 AM AST MON NOV 26 2001

PROBABILITIES FOR GUIDANCE IN HURRICANE PROTECTION

PLANNING BY GOVERNMENT AND DISASTER OFFICIALS

AT 5 AM AST...0900Z...THE STORM CENTER WAS LOCATED NEAR

LATITUDE 30.2 NORTH...LONGITUDE  55.6 WEST

CHANCES OF CENTER OF THE STORM PASSING WITHIN 65 NAUTICAL MILES

OF LISTED LOCATIONS THROUGH  2AM AST THU NOV 29 2001

LOCATION           A  B  C  D  E   LOCATION           A  B  C  D  E

30.5N  56.0W      99  X  X  X 99   30.5N  56.0W      99  X  X  X 99

30.5N  56.0W      99  X  X  X 99   BERMUDA            X  X  1  5  6

COLUMN DEFINITION   PROBABILITIES IN PERCENT

A IS PROBABILITY FROM NOW TO  2AM TUE

FOLLOWING ARE ADDITIONAL PROBABILITIES

B FROM  2AM TUE TO  2PM TUE

C FROM  2PM TUE TO  2AM WED

D FROM  2AM WED TO  2AM THU

E IS TOTAL PROBABILITY FROM NOW TO  2AM THU

X MEANS LESS THAN ONE PERCENT

FORECASTER FRANKLIN

========================================================
This message is brought to you by KHOU-TV 11/Reliant Energy W.A.R.N.
For instant weather on the web or to learn more about our Wide Area Radar
Net (W.A.R.N) visit our website at:  http://www.khou.com
=======================================================

Need to change you weather bulletin settings, going on vacation, or
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TROUBLE UNSUBSCRIBING OR SUBSCRIBING?
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WeatherWarn 2000
========================================================


---------------------- Forwarded by Darron C Giron/HOU/ECT on 03/02/2001
09:46 AM ---------------------------
From: Veronica Espinoza/ENRON@enronXgate on 03/02/2001 09:36 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Debbie R
Brackett/HOU/ECT@ECT, William S Bradford/ENRON@enronXgate, Lesli
Campbell/ENRON@enronXgate, Celeste Cisneros/NA/Enron@Enron, Sharon
Crawford/CAL/ECT@ECT, Richard Deming/NA/Enron@Enron, Russell
Diamond/ENRON@enronXgate, Cindy Feldman/CAL/ECT@ECT, Darron C
Giron/HOU/ECT@ECT, Veronica Gonzalez/ENRON@enronXgate, Jeffrey C
Gossett/HOU/ECT@ECT, Walter Guidroz/ENRON@enronXgate, Larry Joe
Hunter/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Kevin
Meredith/Corp/Enron@ENRON, Tom Moran/ENRON@enronXgate, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report--3/2/01


Here are the volumes that I am looking for.  Thanks!

Shandy Spencer
(231)995-9174 phone

 <<cecomcn.xls>>

 - cecomcn.xls


Mark, I agree with your analysis, conclusions and amendments.  Well done.  I
trust the Legal Trading Committee will also agree, but I will be interested
by their response.

Peter.

	From:  Mark Powell\CAL\ECT                           09/13/2000 05:25 PM

Sent by: Mark Powell
To: Alan Aronowitz/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Jeffrey T
Hodge/HOU/ECT@ECT, Peter Keohane/CAL/ECT@ECT, Mark Taylor/HOU/ECT@ECT
cc: Chris Gaffney/TOR/ECT@ECT, Greg Johnston/CAL/ECT@ECT
Subject: Proposed Amendments to the Physical Master re: Blue Range

Please see the attached memo and blacklined Master Firm Gas Purchase/Sale
Agreement.


Today FOEX published its index for NBSK and BHKP:

NBSK increased by $ (1.13) or 0.25%

BHKP increased by Euro 6.97 (1.6%) to Euro 443.73. Expressed in $US BHKP was up by $2.15 (0.53 %) to $407.11
See attached

Monika Causholli


John,
Attached is the base curve we used to value the ACE (Ahlstrom plant in CA) as
of Nov 10,2000.

What I am looking for is this:

What would be the cost to buy the following four put options,
assuming financial settle
 volume of 10,000 MMBtu/day ,
settled at Socal,
Option term of 2001-2002 :

Monthly Put option, strike price based on the curve in the attached
spreadsheet (Nov 10 curve)
Same as above but strike is at the market.
Annual put option, strike price based on the curve in the attached
spreadsheet (Nov 10 curve).
Annual put option but with strike at the market.

Last week I got bids from Phillips which were ($0.02) and ($0.03) for Socal
basis for 2001 and 2002, respectively.  We will likely need to update these
numbers.


Dear phillip,

This e-mail is automated notification of the availability of your
current Natural Gas Intelligence Newsletter(s). Please use your
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including maps and glossaries visit our web site at
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ALL RIGHTS RESERVED. (c) 2001, Intelligence Press, Inc.
---


Laurie-

Christina was going to review the allocation and change if needed last week.  Are we square with Superior now???

Susan

 -----Original Message-----
From: 	Ellis, Laurie
Sent:	Friday, October 26, 2001 2:00 PM
To:	Pereira, Susan W.
Cc:	Anastas, Sherry
Subject:	RE: August Sonat

Susan, because of the way these deals are in the system, I had to shortpay Superior approx $28K for last month.  Per volume management, they cannot actualize the deals in the order listed below because meter PSNG1220 is not on deals 778088 and 939542 (days 3 & 4 specifically).  Can you make this change so that Vol Mgmt can actualize?

Thanks
Laurie
 -----Original Message-----
From: 	Pereira, Susan W.
Sent:	Monday, October 01, 2001 8:12 AM
To:	Ellis, Laurie
Subject:	RE: August Sonat

Laurie-

Superior is right.  One of the deals listed as baseload was really term.  Christina is going to adjust the tickets.  Fill deals 778088 and 933354 first, then 939542, then the gda deal 939300.  Sorry for the confusion.

Thanks,

Susan Pereira

 -----Original Message-----
From: 	Ellis, Laurie
Sent:	Thursday, September 27, 2001 4:01 PM
To:	Pereira, Susan W.
Subject:	FW: August Sonat

Susan, this the order that Superior says the August deals should be filled in.  Can you please review the email below with the spreadsheet I sent earlier and let me know.

Thanks
Laurie

 -----Original Message-----
From: 	"Jenna D. Irwin" <jirwin@superiornatgas.com>@ENRON [mailto:IMCEANOTES-+22Jenna+20D+2E+20Irwin+22+20+3Cjirwin+40superiornatgas+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, September 27, 2001 3:34 PM
To:	Ellis, Laurie
Subject:	RE: August Sonat

Thanks!!!  We agree on the ENA Upstream gas but the rest of the gas needs to
be reallocated.  According to my trader, the deals should be filled in the
following order:

Trigger:	 	 5,000/day   @ $4.425   ENA Deal # 778088
EFP:    		12,903/day  @ $2.895   ENA Deal # 933354
Baseload:  	2,000/day    @ $3.10     ENA Deal # 939542
Swing:   		      @ GDA      ENA Deal # 939300

Please let me know if this is not the order that your trader agrees with.

Jenna

-----Original Message-----
From: Ellis, Laurie [mailto:Laurie.Ellis@ENRON.com]
Sent: Thursday, September 27, 2001 2:25 PM
To: jirwin@superiornatgas.com
Subject: August Sonat

Jenna, this is what we show in our system for Sonat.  I know it is not
right, but I wanted you to have the detail regardless.  I am going to
get with the trader to see exactly how the volume should be allocated.
I'll let you know what I find.

 <<Superior Supply Sonat 0801.xls>>

Laurie Ellis
Specialist - Gas Settlements
Enron Net Works LLC
Phone: (713) 345-9945
Fax:  (713) 646-8420
email:  laurie.ellis@enron.com

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

 - winmail.dat << File: winmail.dat >>


Luanne:
Our credit people are okay with doing without the change of control condition
that is in the current Guarnty.
Carol


John:
I was reviewing an amendment that Susan bailey was working on concerning the
ISDA Master between ECC and Petro Canada and wanted to make sure that you
were comfortable leaving as is the following provisions that are in the
Schedules:

1. They have amended the definition of Specified Indebtedness.  I'm not sure
I understand  why if we have a threshold amount they need the first part of
the language and wanted your thoughts on this.  Alos, does the second part of
the language need to be updated or revised in any manner?

2. They have deleted the concept of Credit event Upon Merger.

3. They have added to Specified Transaction a Physical Master Agreement which
makes this part of the cross default to specified transaction Event of
Default trigger.  Should we specify a threshold?

4. They have added an additional termination event that contains some unusual
ratings triggers.  For example, are we rated by the 2 bond rating services
that they describe, and if not, doesn't that trigger clause (2) of this
additional Termination Event?   I don;'t think the cure language works and I
don't understand how it works with the collateral threshold since the trigger
for that to go to zero is something else.

5. I'll just note that setoff rights do not currently apply if there is a
Termination Event that is caused by Tax Event or Tax Event Upon Merger.

6. In the CSA, we have permitted cash and government securities which I think
is problematic given our general rule in Canada that we only take LC's.

7. There is a Minimum Transfer Amount of $500,000.

Please call me when convenient to discuss further.

Carol

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)


Jim is available at 10:00 pacific time.  Does that work for others?  Jim -
Ron suggests having Carl Imparato on the call because of his extensive
knowledge of California markets.  What do you think? If you were looking for
an attached list, I haven't prepared it yet.

James D Steffes@EES
09/14/2000 09:42 AM
To: Mary Hain/HOU/ECT@ECT
cc:
Subject: Re: Conference call re Tim's top 5

9am Central time is bad for me.  I could do it at 8am Central or 12noon
Central.  Don't hold off for me.

Jim

Mary Hain@ECT
09/14/2000 11:32 AM
To: jdasovic@ees.enron.com, Susan J Mara/SFO/EES@EES, Mona Petrochko, Sarah
Novosel/Corp/Enron@ENRON, Joe Hartsoe@Enron, James D Steffes/HOU/EES@EES,
Paul Kaufman/PDX/ECT@ECT, Dennis Benevides, Harry Kingerski/HOU/EES@EES,
Christi L Nicolay/HOU/ECT@ECT, Donna Fulton/Corp/Enron@ENRON, Sandra
McCubbin/SFO/EES@EES
cc: Bernadette Hawkins, Joseph Alamo, carrrn@bracepatt.com,
seabron.adamson@frontiereconomics.com
Subject: Conference call re Tim's top 5

I'd like to have a conference call tommorrow at 9:00 a.m. to review Tim's
"top 5" priorities to fix the wholesale market in California.  I need to do
this tomorrow so Seabron and Ron can write our pleading for the Section 206
proceeding while I'm on vacation next week.  Please let me know ASAP if 9:00
is a bad time or if you don't want to be on the call.


FYI -

 -----Original Message-----
From: 	Philipson, Fred
Sent:	Tuesday, March 27, 2001 2:28 PM
To:	Scribner, James; Segura, Stephanie; Eichmann, Marc
Cc:	Jafry, Rahil
Subject:	Working together on the valuation model

All,

As we go forward on the next revision of the valuation model (due late next week or early the next for the offsite), it is important that we all understand and embrace some basic ground rules.  I've got some suggestions below and would like to hear any that you have:

In order to maintain coordination and control of the information - for the betterment of us all - I think we ought to give one person version control responsibility over the model.  This person should be advised when the model is updated.  Relating things like the effects on the valuation and reasons for the updating also seem pertinent.  Version control is critical if we are to maintain consistency in our approach to upper management.

Related to this, Rahil should be made aware when the model is distributed to upper management (both Sally and Greg) and be given the opportunity to give feedback before hand.

Just basic stuff, but if we can all agree to maintain this protocol before we go much further, we should be able to avoid any unnecessary complications.

Thanks,

Fred
5-9323


I got your message and I have asked Brent to get with me when he is back in
the office on Friday ( he has been in New York re: MG since Monday night).
Together we will do two things:  (1) devise a foolproof plan to insure an
excellent level of service to Calgary starting immediately, and (2) work with
Mark Taylor to understand his concerns over the movement of confirmation
preparation to Calgary and to eliminate his concerns.  We will keep you
posted on both items.  --Sally

	Peggy Hedstrom
	07/19/2000 12:02 PM

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Re: Financial Confirm NP6050.1

Just so that you are aware, we continue to have problems with the financial
confirm process from Houston.  On more than one occasion, confirmations have
been sent to our counterparties prior to review by Calgary.  Attached is the
most recent one.   We have been assured over and over that this will not
happen again, however, it continues to happen.  Luckily, this confirmation
went out without any errors in it.  I know that you are very busy, but  is
there any way that you can make it a priority to get resolution on moving the
financial confirmations to Calgary.
---------------------- Forwarded by Peggy Hedstrom/CAL/ECT on 07/18/2000
02:10 PM ---------------------------

	From:  Larry Joe Hunter                           07/18/2000 01:15 PM

To: Peggy Hedstrom/CAL/ECT@ECT
cc: Diane Anderson/NA/Enron@Enron, Andrea R Guillen/HOU/ECT@ECT
Subject: Re: Financial Confirm NP6050.1

Peggy,

As far as I can tell, we simply screwed up on this deal.  Diane Anderson, who
was covering for Angie last week, was using my name to sign off on some other
Canada deals which were approved from last week then signed and sent this one
by mistake.  We're terribly sorry for the mistake.  Call me if you want to
discuss.

Thanks,
Joe

	Peggy Hedstrom
	07/18/2000 09:55 AM

To: Larry Joe Hunter/HOU/ECT@ECT
cc:
Subject: Financial Confirm NP6050.1

Since Dianne Seib is currently on vacation, I am reviewing the financial
confirms.  For the referenced confirm, the status is currently showing 'Sent
to Counterparty", although our records show that we have not yet approved the
revised confirm.  Can you check on this for me and let me know whether this
was sent prior to receiving Calgary's approval?  If you have any questions, I
can be contacted at ext. 6753.
Thanks
Peggy


Thanks Anjam.
That's looks great.
Sorry about the second request.
I didn't realise you were in a meeting.

Thanks,
Sharad


Hi:  O lord.  You know, the pace at school is so much nicer--actually have
time to think about things and absorb it.  But work has gotten so insane that
I sympathize with your plight (since mine's the same).  I think I've maybe
made it to 1/2--that's 1/2--of the finance classes.

NORTH of Sacramento.  Are you driving to Sacramento every day?  Say it ain't
so.  That's brutal.

When you say full time, you mean school full time?  That, I assume, means
leaving your job?  Be happy to talk about it.  You know me---believer in
always keeping all options open and active.  If full time makes sense, you
ought to do it.

Unfortunately, though, it looks like I'll be missing class (again) on Tuesday
because I have to be in Portland.  If you're not going to Sac on Monday,
coffee in SF during work hours works.  Or I could meet you during break on
Monday.  Or we could have lunch or a beer after work on Thursday or Friday
when I'm back from Portland.

Hang in there.  I was worried about you--seemed liked you'd gone underground
again.  Remember, life's too short to get too worried about it.  Let me know
what works for you.

Best,
Jeff

PS  I'm spending my Saturday nite working on a financial reporting case.
Hope that's modest consolation.

"Strategizing?!"   (I don't think so.)

	Courtney Abernathy <courtney_abernathy@yahoo.com>
	09/30/2000 07:52 PM

		 To: Jeff.Dasovich@enron.com
		 cc:
		 Subject: Re: Hectic?

Boy did I flake on the happy hour.  Jeff-I think I've
gone over THE edge.  Hectic does't even work anymore.
 I'm on a (fairly)good project at HP..IN SACRAMENTO,
in fact 20 miles north of Sacramento. I LOVE the
company, the learning, the work, the teams, the
people, the career opportunities.  I hate the 4+ hours
of driving on Mondays and Tuesdays, strategizing(real
word?) about balancing the needs of the team with
getting my ass to school. I really want to talk to
you...I'm thinking about full time and want your
thoughts.  Are you available at break on Tuesday for a
beer?
Courtney
--- Jeff.Dasovich@enron.com wrote:
> Hey there stranger:
> By the looks of your attire (very nice), and the
> pace of you walk the other
> night, looks like you're back in the working groove.
>  Hope work is fun and
> your classes are good.  I'm trying to get used to
> the "no life" thing
> again.  And you slacked on the happy hour.
>
> Best,
> Jeff
>

__________________________________________________
Do You Yahoo!?
Yahoo! Photos - 35mm Quality Prints, Now Get 15 Free!
http://photos.yahoo.com/


Per an email from Soma yesterday, Brian Hull wanted to transact out of their
Toronto Branch, so I used their Toronto address in the agreement.  We do not
have "transactions numbers" on our ISDA's.  I would take it if things proceed
today, that we will date the agreement as of today, so the date of the
agreement will be the only identifying information.  Toronto-Dominion will
need to look at the notice information I put in the agreement and confirm
that it is acceptable.  I pulled it from a recent agreeement they sent us.

	Greg Johnston
	09/28/2000 09:29 AM

		 To: Sara Shackleton/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 cc: kevin.fougere@blakes.com
		 Subject: Enron Officer's Certificates re: PPA

Sara/Tana, do you know the answers to Kevin's questions below?  If so, could
you e-mail the particulars to him as soon as possible.

Thanks

Greg
---------------------- Forwarded by Greg Johnston/CAL/ECT on 09/28/2000 08:27
AM ---------------------------

"KEVIN FOUGERE" <kevin.fougere@blakes.com> on 09/28/2000 07:49:45 AM
To: <greg.johnston@enron.com>
cc: "WARREN NISHIMURA" <warren.nishimura@blakes.com>
Subject: Enron Officer's Certificates re: PPA

As per my voicemail, attached are the officer's certificates we will require.

Do you know what address TD Bank will be using on the ISDAs?  (presumably
their Calgary Main Branch)  also, are there transaction numbers for each of
the ISDAs yet so that we can fill in the blanks on the certificate and
opinions (RE ISDA Agreement Master No. ?)

Thanks

Kevin

Kevin A. Fougere
Blake, Cassels & Graydon LLP
Suite 3500, Bankers Hall East
Calgary, AB  T2P 4J8

Tel: (403) 260-9646
Fax: (403) 260-9700
e-mail: kevin.fougere@blakes.com

This e-mail communication is confidential and legally privileged.  If you are
not the intended recipient, please notify me at the telephone number shown
above or by return e-mail and delete this communication and any copy
immediately.  Thank you.

 - BowRiver.DOC
 - RBC-ISDA.DOC


Mark:  I left you a voice mail last week about the comments from IT about the
"Enron Corp. mandate" from Jim Derrick  regarding negotiation of these
agreements.  Have you a solution?  Sara


David:
I need to see the language before I cam advise you.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)

	David P Dupre
	05/11/2000 02:36 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: Merrill Lynch Capital Services

According to Bruce Mills in our group,

We have contacted Merrill Lynch Captial Services to retrieve our outstanding
confirms.

They have indicated that they want the fixed price (nymex) language changed
to reflect
"floating" price language and wants all deals which we are confirming changed
immediately
and refaxed to them.

Please advise,

David


attached is a notice from CERA re California bill AB 1 for your review and
files; please advise if additional material is requested - Eric Benson

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

----- Forwarded by Eric Benson/NA/Enron on 02/05/2001 05:07 PM -----

	webmaster@cera.com
	02/05/2001 04:37 PM

		 To: insights@cera.com
		 cc:
		 Subject: California's Desperate Attempts to Avoid a Rate Increase - CERA
Alert

Title: California's Desperate Attempts to Avoid a Rate Increase
URL: http://www20.cera.com/eprofile?u=35&m=2241

California,s Desperate Attempts to Avoid a Rate Increase

On February 1, 2001, the California Assembly approved and the California
governor signed a new law intended to secure power supplies for California.
The
legislature has been meeting since early January in a &special extraordinary
session8 to address the power market crisis in the state, and the new law
represents their first significant piece of legislation. The bill, AB 1,
establishes a new mechanism for purchasing power for the state,s businesses
and
consumers. Whether the mechanism works will depend chiefly on whether the
limited revenue source used to pay for the power*collected by the state,s
investor-owned utilities (IOUs) under current retail rates*will cover
wholesale
power market costs incurred by the state. The law reflects the obsession by
California lawmakers with avoiding a rate increase rather than focusing on the
underlying flaws in California,s market structure.

AB 1 ushers in several important changes to the California market structure.
It
also contains several key provisions that capture the political mood in the
state. Highlights of the bill include

* Power buying authority transferred. The responsibility for purchasing power
for the customers of California,s IOUs has been transferred to the California
Department of Water Resources (CDWR). The California utilities will continue
to
operate and schedule their remaining generating facilities and contracts. The
difference between the utilities, total load and the sum of their resources
(referred to as the utilities, &net short8 amount) will be supplied by CDWR,
an
amount of energy that varies between 5,000 and 25,000 megawatts (MW),
depending
on the time of year, time of day, and utility plant availability. The
utilities
most recently performed this function themselves, buying energy from the
California Power Exchange (PX). However, CDWR has been buying electricity on
behalf of the IOUs since mid-January, when the near-bankruptcy of Southern
California Edison (SCE) and Pacific Gas & Electric (PG&E) threatened to
disrupt
supplies to their customers. CDWR is a state agency that manages water
reservoirs and transportation systems in the state. CDWR uses an enormous
amount of electricity to transport water across California and provides
critical load-shedding capability to the independent system operator (ISO). In
addition, CDWR,s reservoirs generate power. The CDWR is thus well integrated
in
the state,s electric grid but in the past has not executed large, complicated
energy purchase arrangements to supply the customers of California,s
utilities.

* Portfolio of transactions. The intent of AB 1 is to allow CDWR to execute a
portfolio of contracts to stabilize the cost of power for the utilities and
their customers. CDWR has until January 2, 2003, to execute contracts. CDWR
will take title to power and is thereby not just acting as a clearinghouse. It
has issued a request for bids and seeks a variety of terms, including monthly,
annual, two-year, three-year, and longer. CDWR may also enter into options.
Thus, although CDWR,s role is intended to be temporary, the contracts that it
executes could extend many years.

* Power for munis. CDWR may purchase power on behalf of some California
municipal utilities at the municipal utilities, election.

* New payment scheme. CDWR will be entitled to a portion of existing utility
rates to pay for the cost of purchased power, interest on bonds, and
administrative expenses. This payment stream will be equal to the difference
between the generation component currently embedded in utility retail rates
(averaging about $0.07 per kilowatt-hour [kWh]) and the utilities,
costs to run
their own generation plants, costs of bilateral and qualifying facility
contracts, and the costs of ancillary services. The CDWR share of retail rates
is referred to as the California Purchase Adjustment (CPA). It is not clear
whether the CPA will cover wholesale power market costs. Current prices for
multiyear power contracts may lie above the CPA. In addition, if investors
believe that the CPA is inadequate to cover costs, the entire program may be
abandoned.

* New bonds. Bonds will be issued to secure power. The total amount of bonds
issued may not exceed four times the CPA. The state will transfer $500 million
from the general fund to jump-start the program, which begins immediately.
This
seed money and all bond proceeds must be recovered by CDWR from the California
utilities, customers (and municipal utilities if they opt in).

* New residential rate freeze. The California Public Utilities Commission
(CPUC) is prohibited from increasing residential customer rates until it has
completed paying all outstanding obligations. This locks in the recent 9
percent residential rate increase indefinitely. Governor Gray Davis thus keeps
his pledge not to increase rates further.

* Retail competition. To help secure a stable payment stream for the new
bonds,
AB 1 enables the CPUC to prohibit the utilities, retail customers from
choosing
an alternative electricity provider until CDWR,s obligations are paid.
Although
the CPUC has yet to act on this, the action would effectively halt the
competitive retail markets in the state for the duration of the CDWR program.

* Taxpayer protection. AB 1 directs that the new bonds clearly state &[
n]either
the faith and credit nor the taxing power of the State of California is
pledged
to the payment of the principal of or interest on this bond.8 Thus, the bonds
are secured only by the payment stream from utility rates.

*No assets affected. The CDWR is granted neither ownership nor control of
utility assets.

Ironically, the authority now granted CDWR is what California utilities had
essentially requested last summer when they sought to stabilize electricity
prices by executing a portfolio of transactions. The utilities were never
provided sufficient authority to execute term contracts. In addition, the
utilities have more experience to perform this function than CDWR.

Rather than aligning retail rates with wholesale electricity prices,
California
has sidestepped the issue by simply transferring the electricity purchasing
function. SCE and PG&E are still left to contend with uncollected costs from
past energy purchases, although they will no longer incur costs associated
with
buying power in the current wholesale market while charging frozen retail
rates. The utility liquidity crisis has not been resolved.

It is not clear whether the law,s prohibition on rate increases for
residential
customers can be achieved. The law is silent on rate increases for commercial
and industrial customers, providing a potential path for recovering
higher-than-
expected costs. Alternatively, CDWR could conceivably find contracts of
sufficient duration and low enough price that the rate pledge is met. These
contracts would lock in today,s retail rates for a long period of time.

AB 1 is just one of the steps that state officials hope will restore the power
system in California to a more stable footing. Key tasks remain.

* California,s wholesale market structure, which helped cause the supply
crisis
by ensuring that it was not profitable or possible to build generation in
California, remains unchanged. The term contracts CDWR is likely to sign will
provide a mechanism for mainly existing generators to lay off risk but will
not
be sufficient to encourage the build of sufficient new facilities. In
addition,
California,s siting and permitting process remains largely unchanged.

* The state must still address the need to expedite the development of new
power plants.

* AB 1 does not provide for the recovery of uncollected past wholesale energy
costs of California,s utilities. The state has been negotiating a deal with
the
utilities that may involve the transfer of generation or transmission assets
to
the state. However, the utilities have achieved recent court victories that
may
pave the way to a court-directed recovery of these costs. Recent audits
indicate that SCE and PG&E recovered their stranded costs early in 2000, which
should have triggered an end to their respective rate freezes. A legal
showdown
between the utilities and the state on this issue may be inevitable.

**end**

Follow above URL for full report.

*********************************************************
Come Shoot the Rapids with us at CERAWeek2001, "Shooting the Rapids:
Strategies and Risks for the Energy Future" in Houston, February 12-16, 2001!
For more information and to register, please visit
http://www20.cera.com/ceraweek/
*********************************************************

E-mail Category: Alert
CERA Knowledge Area(s): Western Energy,

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This electronic message and attachments, if any, contain information
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in whole or in part, is strictly prohibited.
Terms of Use: http://www20.cera.com/tos
Questions/Comments: webmaster@cera.com
Copyright 2001. Cambridge Energy Research Associates


Tana,

Please review the message and send approval to Enron Messaging
Administration.  As soon as we work out the groups to send it to I will send
out the approved message at the 6pm mailing time.

Thanks - Erika

We are in the process of preparing applications for position limit exemptions
for ENA,s NYMEX energy commodities futures trading.  These applications
require that ENA represent whether its officers, employees, owners, or agents
have a power of attorney, control or have a financial interest in any other
related commodity future(s) account either individually or acting with
another person pursuant to express or implied agreement.

Please direct any responses to my paralegal, Tana Jones, via intercompany
email or call her at (713) 853-3399 by the end of business Friday, June 30,
2000 if you have any power of attorney, control or have a financial interest
in any commodity futures account (other than an ENA or other trading
affiliate account).

IF YOU DO NOT HAVE A COMMODITY FUTURES ACCOUNT, YOU DO NOT NEED TO RESPOND TO
THIS REQUEST.


Pope has zero interest in buying 1/2 or the whole PPA


Cara Semperger
deal 580011
CP name should be BP Energy not BP Amoco.

Thanks


Jesse, per my email to Bill last week I need to take March 31st thru April 3
off to take care of some family business down in LA.  I have already
purchased my ticket leaving on the evening of the 30th so, if you are
planning on scheduling me for the 30th please make it a day shift.  Thanks a
lot.


---------------------- Forwarded by Darron C Giron/HOU/ECT on 02/20/2001
03:01 PM ---------------------------

From:  Veronica Espinoza @ ENRON
               02/20/2001 09:38 AM

To: Larry Joe Hunter/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Kim S
Theriot/HOU/ECT@ECT, Melinda Whalen/CAL/ECT@ECT, Dianne Seib/CAL/ECT@ECT,
Janie Aguayo/HOU/ECT@ECT, Derek Bailey/Corp/Enron@ENRON, Kevin
Meredith/Corp/Enron@ENRON, Ellen Wallumrod/NA/Enron@ENRON, Celeste
Cisneros/NA/Enron@Enron, Diane Anderson/NA/Enron@Enron, Tiffany
Williams/NA/Enron@Enron, Cindy Feldman/CAL/ECT@ECT, Patricia
Boulanger/CAL/ECT@ECT, Linda Sietzema/CAL/ECT@ECT, Sharon
Crawford/CAL/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Tanya
Rohauer/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT,
Russell Diamond/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Nidia
Mendoza/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT,
David Baumbach/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Darron C
Giron/HOU/ECT@ECT, Walter Guidroz/NA/Enron@Enron, Leslie Reeves/HOU/ECT@ECT,
Veronica Gonzalez/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Jean
Bell/HOU/ECT@ECT, Ken Curry/HOU/ECT@ECT
cc:
Subject: Credit Report--2/20/01


Excellent..

Marcus B. Jones
MCA Architects, P.C.
PH (503)226-0622
FAX (503)226-0626
30 NW 1st Ave.
Portland, OR 97209

-----Original Message-----
From: Mark.Guzman@enron.com [mailto:Mark.Guzman@enron.com]
Sent: Monday, December 04, 2000 1:11 PM
To: Marcus Jones
Subject: RE: Marc Coming to Town

sounds good.  give me a call on Sunday and let me know or i will try and
get a hold of you


All,

After filling out and gathering all the feedback forms in the last couple of
weeks, Jeff and I just realized that we forgot to ask everyone for an
accomplishment list from each of you.  We have had a very successful 2001 so
far and we need to be able to discuss each group and your personal mid-year
in detail.  Please send us an email with your accomplishments so that we have
all the facts during the PRC process.

This doesn't need to be formal but simply put together and email to both of
us for the appropriate time.

Thanks,
Mike and Jeff


Jim- Please add Michael Tribolet to EIM lead position for RAC. I will have a little crossover due to skill sets which I assume is ok, you really just need a lead to coordinate and manage the process. Lets meet on Monday. Can someone that is in Netco also be one of these coordinators? Rick

-----Original Message-----
From: Fallon, Jim
Sent: Sun 12/9/2001 10:20 AM
To: Miller, Don (Asset Mktg); Hickerson, Gary; Malcolm, Rodney; Delainey, David W.; Hughes, James A.; Dimichele, Rich; Haedicke, Mark E.; Colwell, Wes; Causey, Richard; Oxley, David; Beck, Sally; Piper, Greg; Buy, Rick; Bradford, William S.; Leff, Dan; Murphy, Ted; Fallon, Jim
Cc: McMahon, Jeffrey; Whalley, Greg
Subject: Post Petition Organization

All,

We had a preliminary meeting on Friday.  The attached is a summary of the matrix we developed as well as changes from subsequent e-mails.  Note, only one name has been placed in the matrix where two may have been suggested - if the name is not correct then please e-mail me back as soon as possible - only person per box please.  The names placed in the matrix will be directly responsible to the estate.

We need to meet Monday to: (1) agree on the matrix; (2) develop detailed processes for capturing value (trade books, structured deals, hard assets and business sales); (3) understand the approval process required on a go forward basis; (4) develop compensation / retention program for estate, (5) address any administrative concerns.

If you have not done so, please check the names in the matrix to ensure that they are correct and please send me any changes as well as their full names to be utilized for future e-mails.

Regards,

Jim

<<REORG1.doc>>


Public Power Renewable Energy Action Team Launched; Non-Profit Center for
Resource Solutions Assumes Management Responsibilities

SAN FRANCISCO--(BUSINESS WIRE)--April 3, 2001 via NewsEdge Corporation  -
Municipal utilities in California have come together behind renewable
resources. Volatile electricity markets are making renewable energy
increasingly
cost-effective, and a team of municipal utilities plans to deploy
renewable resources as a means to ensure the continued competitiveness
of public power.

The Center for Resource Solutions (CRS), a non-profit
organization based in San Francisco, has assumed management and
organizational responsibilities for the group, which is called the
Public Power Renewable Energy Action Team (PPREAT). Key supporters of
PPREAT include the Los Angeles Department of Water and Power, City of
Anaheim, Northern California Power Agency and many other municipal
utilities in California.

PPREAT aims to:

-- Aggregate demand for renewable energy among public power
utilities;

-- Move renewable energy into mainstream power planning processes;

-- Identify opportunities for public power joint-ownership of
renewable energy projects;

-- Leverage federal and state renewable energy project development
technical assistance;

-- Hedge against future volatile electricity prices;

-- Create a common public power branding strategy around renewable
energy resources; and

-- Develop a replicable model for joint-ownership of renewable
energy projects.

While PRPEAT's initial collaborators come from California, PPREAT
participants ultimately hope to work with public power agencies from
across the nation.

Information on PPREAT and its activities will be available at
www.resource-solutions.org. CRS will soon issue a Request For
Proposals for soliciting partners in the renewable energy industry to
collaborate with PPREAT in response to the CEC PIER Renewable Energy
Program Area Grant RFP.

For more information, contact Kirk Brown at CRS at 415-561-2100 or
email at: kirkbrown@resource-solutions.org.

CONTACT: CRS   |              Keri Bolding, 415/561-2100, |
kbolding@resource-solutions.org


Kay,  FYI.  I didn't see you on the distribution.

Taffy Milligan
Sr. Admin Assistant
EWS-Legal
Tele: 713-345-7373
Fax:  713-646-6058

----- Forwarded by Taffy Milligan/HOU/ECT on 05/24/2001 12:15 PM -----

	Lisa Zarsky/ENRON@enronXgate
	05/24/2001 11:09 AM

		 To: Greg Krause/ENRON@enronXgate, Raimund Grube/ENRON@enronXgate, Bob
Greene/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lea Sooter/ENRON@enronXgate, Dave
Kellermeyer/ENRON@enronXgate, Barbara Rose/ENRON@enronXgate, Steven
Rose/ENRON@enronXgate,
White@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=JWHITE7@EX@enronXgate, Ann Elizabeth
White/HOU/ECT@ECT, barshk@gtlaw.com@SMTP@enronXgate,
redelstein@ensr.com@SMTP@enronXgate, cabrera@pbworld.com@SMTP@enronXgate,
aamloren@bellsouth.net@SMTP@enronXgate,
dellaward@mindspring.com@SMTP@enronXgate
		 cc: Taffy Milligan/HOU/ECT@ECT
		 Subject: Development of Certosa Holdings Project

Per Greg Krause's request I have scheduled the following Conference Call

* Please note the change

Date:  Friday, May 25th

RE: Development of Certosa Holdings Project

Time:  10:30 AM (Central Time) & 11:30 AM (Eastern Time)*

Dial-in # 1-800-991-9019

Pass code # 6958166#

If there are any questions or conflicts with the time change please feel free
to contact me at 713-853-4321.

Thank you,
Lisa Zarsky


----- Forwarded by Scott Bolton/Enron Communications on 06/26/00 08:05 PM
-----

	EBS Office of the Chairman
	Sent by: EBS Announcements
	06/27/00 04:27 PM

		 To: All EBS Worldwide
		 cc:
		 Subject: EBS Update

EBS has realized many significant accomplishments in this first half of 2000.
We continue to make excellent progress in building out the EIN, as well as
delivering on our two primary commercial opportunities, Bandwidth
Intermediation and Broadband Content Services.  In addition, EBS continues to
represent a significant portion of Enron,s overall market value.  We are very
excited about maintaining and growing our momentum.  We want to take this
opportunity to share with you an update on our progress to date and to
discuss EBS, plans for the remainder of this year.

Development of the Enron Intelligent Network

To date we have 14,601 route miles of fiber owned and contracted in the U.S.
Of this fiber, 4,051 miles are currently lit and operational and we expect to
have 9,095 miles lit by the end of this year.  In addition, we have deployed
54 PoP,s and installed two pooling points within our U.S. network.

EBS also completed the acquisition of Warpspeed Communications, a leading
provider of on-demand switched bandwidth services.  The newly named Enron
Broadband Switching Systems (EBSS) division provides us with significantly
enhanced &intelligence8 for the network, greatly enhancing our bandwidth
trading and broadband content delivery capabilities.  EBSS software will be
incorporated into the EBS fiber optic platform to increase the speed and
efficiency of our own network as well as switching capability between
networks.

Content Services

The EBS Content Services business consists of our content delivery services
and distribution network.  During the first half of 2000 we signed landmark
long-term agreements with several key content providers including Blockbuster
Inc., which will be publicly announced shortly, to provide video on demand
(VOD) services for Blockbuster,s large full-length movie base, and Bridge
Information Systems to deliver financial content and real time business news
to enterprises.

We have also established an effort focused on delivering broadband solutions
to the rapidly evolving Applications Service Providers (ASP) sector.  Our
agreement with i2, a leader in supply chain management software, allows us to
sell network services as well as jointly pursue service offerings to the
rapidly growing online exchange community.

We also extended the EIN reach to approximately 20 million desktops through
new broadband distribution agreements with Bell South, US West, and SW Bell
to support the distribution of rich media content.  Additionally, we have
reached an agreement with Bell Nexxia to expand the EIN into Canada, which
provides the basis for future distribution deals.

Bandwidth Intermediation

Our intermediation business includes the development of highly structured
bandwidth solutions for our customers as well as the EBS effort to develop
and trade bandwidth directly with the market.  Both efforts have been
extremely successful this year.

In addition, we began offering bandwidth trades on EnronOnline in April.  To
date, we have completed 25 total trades, with several trades being executed
through EnronOnline. We have recently surpassed our 2000 goal of 5,000 DS-3
months, to be settled by year-end, in just the first six months of the year.
Additionally, we have signed long-term, wholesale origination deals for the
network with Frontier, Datacom, Orconet and Neon.

Current Metrics and Statistics

 Metric   Current   2000 Target

    Total Contract
    Value ) Content  $59.05 Million*  $160 Million

    DS-3 Months    5,152   5000

    Route Miles   14,601   15,000

    POP,s Deployed**   106   250

  *  Excludes Blockbuster VOD
** Modified from &Servers Deployed8 due to a revised architecture for Media
Cast servers

We want to take this opportunity to congratulate everyone on the EBS team for
all of your hard work and for making these great strides.

Remaining Year 2000 Goals and Objectives

While we have had an outstanding first half of the year, we must focus on
accomplishing some formidable financial and non-financial goals in the
remaining six months. To achieve our 2000 goals, we feel we must accomplish
the following:

1.  Complete the fiber build of the network, specifically Houston to New
Orleans.
2.  Increase the number of operational pooling points domestically to 13, and
bring online our London pooling point.
3.  Ensure the highest QoS and reliability to our content and Broadband
Distribution Partners (BDP) customers through a stable and robust streaming
platform.
4.  Develop an integrated and consistent service offering to our Enterprise
and ASP customer base.
5.  Establish sufficient liquidity and transparency in our traded bandwidth
and storage products to manage risk throughout the organization and enable
risk
     management to be profitable on a stand-alone basis.
6.  Ensure that we have the resources, accountability and focus on the
service delivery side of the organization to enable us to be successful in
executing on our
     strategy.

It is with these goals in mind that we make following modifications to the
organization.  An organization chart for both EBS global and EBS Europe is
attached which details all departmental reporting relationships.  Some of the
more significant changes are discussed below:

Commercial Coverage

We remain convinced that we must focus our efforts on customers rather than
products in order to be successful in capitalizing on opportunities in the
rapidly evolving broadband marketplace.  Further, while our service offerings
can still be broadly defined as intermediation and/or content services, our
marketing approach toward enterprise customers must differ substantially from
that of our media and entertainment content customers.

We also are more likely to offer bundled solutions combining both streaming
and/or bandwidth products to the enterprise segment, while our streaming
platform is forefront in the minds of our media and content customers.  In
addition, there is significant potential for integrated transactions among
the Enterprise, Technology Partners, and ASP/ISV customer segments.  To
capture the tremendous opportunities these customer bases provide, we have
segmented our customer coverage functions into three groups:

Content and Distribution Services will be led by David Cox and will focus its
efforts intensely on aggregating high bandwidth content and ensuring high
quality delivery through its Broadband Distribution Partner (BDP) customer
base.  Stewart Seeligson will join David Cox to provide day-to-day management
of our efforts in this area.  David will continue to focus on large
commercial opportunities and provide commercial direction over the deployment
of our streaming platform.  Stewart will focus on driving the commercial
activities of the group.  April Hodgson and Steve Luginbill will report to
Stewart.  In addition, due to the scale of efforts required to make the
Blockbuster agreement a success, we have formed a Video on Demand (VOD) team
consisting of cross-functional expertise.  This team is led by Frank Bay, who
also reports to David Cox.

Enterprise/ASP will be led jointly by Jim Crowder and Rex Shelby, and will
focus on providing bundled solutions to this rapidly evolving business
marketplace.  In addition, this group will continue to be responsible for our
key strategic relationships.

The Wholesale Group, led by Ted Seitz, will continue to focus its coverage
efforts on the traditional telecom sectors of carriers, ISP,s, CLEC,s, RBOC,
s, global carriers and transcontinental capacity providers located in the
U.S. and Canada.

EBS Europe

Unlike many of Enron,s traditional businesses, the communications business is
truly global in nature.  Therefore, it is essential that we extend ourselves
internationally in areas where we can leverage our existing network and skill
sets.  We feel that the European region now presents significant
opportunities to EBS, and we are pleased to announce that Steve Elliott,
former head of Network Development, will be moving to London as President of
EBS Europe to head up this effort.  Joining Steve in London will be Kevin
Kohnstamm as VP of Network and Business Implementation.

Steve,s former responsibilities will be shared by: Ted Seitz, who will
oversee the development of the network domestically from a commercial
perspective, as well as manage our Canadian initiatives; Jon Thomsen who will
consolidate our Latin American activities in Mexico and South America.  We
will also be consolidating all of our Asian activities into one group, whose
leadership we will announce shortly.  In addition, we are pleased to announce
that Raj Thapar has now joined us from Enron India.  Raj will manage all of
EBS, activities in India, where he will work closely with the Enron India
team headed by Sanjay Bhatnagar.  Raj will report to Steve Elliott.

David Leatherwood and the Network Construction group will now report to John
Griebling in John,s capacity as head of Network Engineering and Operations.

Product Engineering

The rapidly evolving nature of the broadband streaming services business,
coupled with the robust capabilities of the EIN, provide EBS with almost
unlimited potential streaming application opportunities.  At the same time,
we must deliver on the capabilities of established products.  To balance the
need for execution with the need to develop new products, we have segmented
the former Product Development group into two efforts:

Diane Hetzel will lead the newly named Product Engineering group, which is
charged with application development and deployment on our network of all
current EBS product offerings.  Diane will report to the Office of the
Chairman.  Also, Global Information Systems, managed by Laura Beneville, will
now report to Diane.

John Bloomer will head the New Products and Technology group, which will
identify emerging product and technology opportunities with the goal of
eventual commercialization and integration into our product offering.  John
will report to Scott Yeager,s Strategic Development group.

Risk Management Systems

In order to succeed in developing a broad-based product offering that can
scale effectively, EBS must put in place an integrated state-of-the-art
transaction-processing platform.  This requires effective coordination of all
risk system development activities.

John Echols joins EBS as head of the new Risk Systems Development and Service
Delivery group.  John brings a wealth of experience in transaction systems
development from Enron North America and Enron Energy Services.  To ensure
that we are developing appropriate risk reporting and customer service
capabilities to this effort, Barry Pearce and Penny Crane, who head these
respective functions, will report to John.  In addition, David Reece will
join John as Project Manager for all risk management systems, software
development.

Broadband Operating System (BOS)

The successful implementation of an Application Programming Interface (API)
for broadband applications remains a key component of EBS,s overall
strategy.  The ability of applications to have access to bandwidth capacity
on-demand is integral to the success of our network and the broadband
marketplace in general.  Larry Ciscon will continue in his role as Chief
Architect for the Broadband Operating System (BOS).  Everett Plante will
assume the role of Program Manager for BOS to provide the necessary linkages
to the network architecture efforts of the EIN.

Structuring

A core competency of Enron has been its ability to identify, segment,
appropriately price and manage risks rigorously in emerging commodity
markets, while continuing to be flexible enough to rank by Fortune as the
most innovative company in America.  Across the company, an effective
structuring group with the proper representation of financial, technical and
other assorted disciplines has been a key part of this success.  Towards this
end, we have established the Structuring and Transaction Development group
under Brad Richter and Steve Barth.

We also have merged the Sales Engineering group, led by Merat Bagha into the
structuring group to ensure the proper technical input for all potential
transactions.  It is essential that we support this group in its efforts by
allowing structuring to review all transactions emanating from the customer
coverage groups to ensure proper pricing, accountability, and documentation
of all related risks.  The efforts of this group are critical in establishing
the framework to allow our business to scale exponentially to meet the
accelerating demands of the broadband marketplace.

Trading and Risk Management

Jim Fallon, formerly Managing Director of Power Trading and Risk Management
for Enron North America, has joined EBS as head of Global Risk Management.
Jim and his team is charged with replicating the successful trading platform
he built in North America into a bandwidth trading platform for EBS.  Paul
Racicot, VP of Bandwidth Trading, will head the North America trading desk,
and Marcello Romano, Director of Bandwidth Trading, will head this function
in Europe, while reporting jointly to both Jim and Steve Elliott. .  As
previously announced, VP John Scoblick will head real estate risk, and IRU
Management, led by Andy Unverzagt, will also report to Jim.

Warpspeed Acquisition

We highlighted above the significance of the Warpspeed acquisition.  Terry
Stavropoulos, VP, Mike Golden, EBSS-CTO, and Andy Rundquist, architect, lead
Enron Broadband Switching Systems, formerly Warpspeed.  We welcome the EBSS
team of 55 employees to the EBS team.

Staff Functions

Kelly Kimberly, formerly Senior VP of Marketing, Communication and PR for
Enron,s international companies, now leads that function for EBS as well as
overseeing the Market Interface and Intelligence group, headed by VP Tony
Mends.  It is critical that our external message be consistent to ensure we
are communicating EBS, strategy effectively.  Toward this end, the marketing
representatives, formerly in the verticals, will now report directly to Kelly.

As was recently announced, Marla Barnard is now leading the HR function for
EBS.  We recognize that intellectual capital is our most important resource.
Marla will focus on keeping EBS competitive by developing strategies to
ensure that EBS is able to attract, develop and retain the best talent in the
industry.

We are in a rapidly changing and dynamic industry. While our strategy and
overall objectives will remain unchanged, we must continue to be flexible on
how we execute on our strategy and achieve our objectives to effectively
respond to the changing needs of our customers and to new opportunities in
the marketplace.  This requires timely modifications to our organization.  We
are convinced that we have a winning strategy and the best team in the world
to execute on our strategy.

While we have accomplished a great deal in the first six months of 2000, let,
s build on this momentum and work together to achieve our goals over the
remainder of the year.

LINK TO POWERPOINT PRESENTATION BELOW:

  <<<< Link to PowerPoint Presentation EBSORGOO.ppt and EBSEurope.ppt (Open
document and right click on the icon to launch or view).

 If you are not able to use the link then to access PowerPoint Presentation
open database using ECPDXAPPS01/Enron Communications as the server and in the
"Apps" folder find the "ECI Corporate Document Repository" database and open
the database. Open the view "By Category" >>> Chairman's Updates >>> Email
messages from the Office of the Chairman.


Thanks, Harry.  I want to re-enforce the switching issue, since EES is likely
to be very focused on moving customers back to the utility on Tuesday.
Switching would certainly reduce EES' going-forward exposure to 1) growing
"credit receivables" that the utilities refuse to pay and 2) the risk that
the Commission will end the rate freeze altogether---and the PX credit with
it--as part of the hearing process that commences with the pre-hearing
conference on Wednesday.  Reducing that exposure is clealry important to EES.

But the utilities' ability to resist taking back customers is likely to be
significant, particularly since 90% of the volumes that we serve are on Enron
meters.  Imagine the road blocks that the utility can/will construct over the
"complex process"  of changing-out the meters.  In addition, when CA border
gas prices spiked several weeks ago, many large gas customers tried to switch
from noncore to core service on SoCalGas' system.  SoCalGas submitted an
emergency motion at the Commission to prevent the switching and the
Commission granted it in the wink of an eye.

It will be important for EES to drill down fairly deeply in its analysis of
all the ways that the utility can frustrate any switching.  Otherwise, we may
find ourselves confronting a lot of negative PR without having reduced any of
EES' exposure.  Customers who have been unwillingly switched back to the
utility have become very vocal about their displeasure and have turned
negative on ESPs as a result.

Best,
Jeff

	Harry Kingerski
	01/07/2001 11:21 AM

		 To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Mark S
Palmer/Enron Communications@Enron Communications
		 cc: Jeff Dasovich/NA/Enron@Enron, James D Steffes/NA/Enron@Enron
		 Subject:

These 3 issues will be discussed at your Tuesday afternoon meeting with EES:

what to do about forcing the utilities to pay delinquent PX credits
Through December, the total arrearage is about $220M total, mostly from
PG&E.  Neither utility is paying.  Vicki Sharpe is lining up bankruptcy
counsel.

should the new 1 cent surcharge be passed on to our customers
Vicki has not said yet whether our contracts allow passthrough, although she
has hinted it would require a very aggressive interpretation of the contract.

should we try to return our customers to utility bundled service
Aside from the modifications to our customer contracts that have to take
place, an even stickier issue is to get the utilities to take them back.
Even if the utilities are required to do so, forms have to be processed and
meters have to be changed out.  (We have our own meters on our accounts.)
This could not happen quickly.  Of course, this action mitigates against the
risk of the rate freeze ending but does nothing for the credit problem, other
than to keep the exposure from getting larger.

On Wednesday, there will be a pre-hearing conference at the CPUC on the next
phase of the end-the-rate-freeze case.  Jeff and I have talked about this and
think we can decide what our involvement will be (witnesses, positions, etc.)
after a schedule is set.  For now, the strategy is to make sure the CPUC on
Wednesday adopts a schedule that deals with all the issues they must deal
with about the rate freeze.

(Rick, I will be in San Francisco through Wednesday meeting with Mike Day and
working with Roger Yang to identify all those issues.)


I'll let my parents (Dr. and Mrs. Larry  (Carole) Goldberg) know.  Thanks
very much.

Jeff

GR2915@aol.com on 10/02/2000 08:51:52 AM
To: jeff.shankman@enron.com
cc:
Subject: yom kippur service

I noticed in your letter to Rabbi Diamond that you intend to be in Louisville
for Yom Kippur.  I will have a ticket for you (needed for admiission) at the
ticket desk.

Gerryy Ronkin


what is your fax number?


Whenever.  How about 2:30?

 -----Original Message-----
From: 	Redmond, Brian
Sent:	Wednesday, January 02, 2002 1:53 PM
To:	Zisman, Stuart
Cc:	Nemec, Gerald
Subject:	RE: Bridgeline

Lets get on the phone today with (1) Bridgeline, (2) Gulf South, and (3) Dow to define a process for getting this sale done.  When are you available?

Regards,
Brian

 -----Original Message-----
From: 	Zisman, Stuart
Sent:	Wednesday, January 02, 2002 1:44 PM
To:	Redmond, Brian
Cc:	Nemec, Gerald
Subject:	Bridgeline

Any word from Bridgeline regarding their (i) level of interest/ability to purchase the pad gas in Caverns #13 and #14 and/or (ii) willingness to pay the lease payment for Q4 directly to Dow?  Please advise.

Stuart