---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/19/2001
04:28 PM ---------------------------

Jeff Gray@EES
04/17/2001 12:30 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Michael Moore/HOU/EES@EES
Subject: EES revenue through customer DSM projects

Vince:

Have you or a member of your group had a chance to look over the forwarded
e-mail yet?  We have a meeting on Thursday with another potential client who
plans to use his own capital.  His capital budgeting issues are similar to
those of the client who prompted my original e-mail.

The more DSM projects that we can help the client get approved, the more DSM
savings we can share with the client.  These DSM projects can turn a retail
commodity contract with low profitability into a substantially more
profitable contract for us.

Would one of your GARCH analyses provide us with a quantitative solution?
One of your experts in differential equations might have devised something.
We'd really like to have something quantitative if you think it's at all
possible.

Thanks,

Jeff

---------------------- Forwarded by Jeff Gray/HOU/EES on 04/17/2001 12:16 PM
---------------------------

Jeff Gray
04/09/2001 04:41 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Michael Moore/HOU/EES@EES, Jay Sparling/HOU/EES@EES
Subject: DSM projects as real options

Vince:

Could you spare a few moments to look over the attached three-page Power
Point presentation?  At a minimum, we're trying to demonstrate the
following:  In high-volatility electricity environments, for those EES
customers who employ their own capital, their usual capital-project IRR
hurdles may be lowered slightly in the special case of DSM projects, to allow
for the extra value derived from reduced risk exposure stemming from reduced
power consumption/dependence.

I'm pushing the boundaries of real-option theory (and good sense) and viewing
a DSM project as a series of options, the values of which are additive.
First is the option to engage in the DSM project itself; which, if we
exercise the option immediately, can be valued intrinsically through a simple
NPV analysis.  Second is a strip of put options to generate "negawatts,"
extending over the useful life of a DSM installation, the cumulative value of
which is an extrinsic value associated with the DSM project.  These options
are exercised sequentially--over the life of the DSM installation--whenever
the customer experiences a dramatic, stochastic spike in electricity price,
associated with a lognormal price distribution.  I'm calling the value of
this strip a "residual time value" associated with the original DSM option.
If we can add this residual time value to the NPV and derive a total value
that is quantitatively higher than a simple NPV alone,  we may be able to
help the customer get more projects approved, even at the original high IRR
hurdle.

Alternatively, and more feasibly, we'd like to give these same customers a
"qualitative" tool with which they can convince their finance gatekeepers to
lower--for DSM projects--their standard capital-project IRR hurdle .  The
attached presentation is a first attempt at this qualitative argument.

We intend to use this only as a sales and marketing tool, to allow at least
one of our customers who has an onerously high hurdle rate to manage around
his company's internal capital-budgeting requirements.  He has set aside a
large sum of money for DSM projects, but will only be able to spend a small
portion of it under his company's current capital budgeting methodology,
which does not take into account forward commodity price volatility.

In your opinion, is there any hope in devising a quantitative justification,
or will we have to stick with the qualitative argument as described in the
attached presentation?  In other words, is it possible to quantify "residual
time value" as I've defined it above? Or, even better, are you aware of a
more practical way of conceptualizing this problem?

Thanks,

Jeff Gray

Vince J Kaminski@ECT
01/05/2001 03:26 PM
To: Jeff M Gray/NA/Enron@ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Alex
Huang/Corp/Enron@ENRON, Gary Hickerson/HOU/ECT@ECT, Michelle D
Cisneros/HOU/ECT@ECT
Subject: Power Plant Model

Jeff,

A few comments on the model:

1. We have a few reservations about some features of the model but would like
to
discuss it internally and make the improvements without giving the benefit of
our insights to the consultant.
In general, the model is not unreasonable but the devil is always in the
details and in the inputs and
calibration. The same model may produce drastically different results
depending
on the quality of inputs.

2. We don't have a separate pool of programmers in the Research  Group. We
were told that you
would provide an IT resource. Alex would supervise this person.

Vince


Good morning. We repeated the MMSE test this week. Mom did  much better this
time. Still has trouble with short term memory, but she drew  the clock
correct this time. It looks like the medicine is holding things okay.  The
doctor talked with her briefly about banking needs and finances, so she
shouldn't be surprised if we bring up the subject.? She (the doctor) told
her that her concern was of someone taking advantage of her,(strangers,
etc.)  since she may not remember that she had already paid for something and
try to do  it again.
?Still planning to get together Sat. June 2. Mom thinks  she is going out for
her birthday so I don't expect her to try to cook alot of  stuff. Let me know
what is needed as far as food.
?Oh, Allison's tests also were better. The urinary reflux  that was seen 6
months ago appears to have corrected itself. No surgery needed,  however they
are still concerned about why she has had the frequent urinary  tract
infections. Anyway she too is doing much better. Let me hear ffrom both of
you.


Approved


ttached are the revenues and the volumes per counterparty that you requested.  Please note that the revenue and OPM cost information is in Canadian dollars.  I will be forwarding a copy of our MSA Agreement template shortly.  Please call me once you've had a chance to review the information.


Start Date: 10/5/01; HourAhead hour: 22;  No ancillary schedules awarded.  Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001100522.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 22 / Preferred:   0.00 / Final:   0.01)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/5/01
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: EPMI_CISO_RED
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 22 / Preferred:   0.00 / Final:   0.01)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/5/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_BLUE
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 22 / Preferred:   0.00 / Final:   0.01)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/5/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_ORANGE
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 22 / Preferred:   0.00 / Final:   0.01)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/5/01
  TIE_POINT: MEAD_2_WALC
  INTERCHG_ID: EPMI_CISO_WHITE
  ENGY_TYPE: WHEEL


G$ - Please call me this am re:attached open season package for PGT.

Bids are due tomorrow -

Thanks

Stephanie
---------------------- Forwarded by Stephanie Miller/Corp/Enron on 02/14/2001
08:22 AM ---------------------------

"Schoene, Jim" <Jim.Schoene@neg.pge.com> on 02/13/2001 09:31:36 AM
To: "Stephanie Miller (E-mail)" <stephanie.miller@enron.com>
cc:

Subject: The Whole package

Attached is the latest entire package.  You can view in "page layout mode"
to get the logo's and disclaimers shown.

 <<Open Season Package2-12-01.doc>>

PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility.  Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission.  Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.

 - Open Season Package2-12-01.doc


FYI
Received: from postmaster.enron.com (outbound5.enron.com [192.152.140.9]) by
tfsgateway.andrews-kurth.com; Tue, 03 Oct 2000 13:32:22 -0500
Received: from nahou-msmsw03px.corp.enron.com ([172.28.10.39]) by
postmaster.enron.com (8.8.8/8.8.8/postmaster-1.00) with ESMTP id NAA28032 for
<PETEJ@andrews-kurth.com>; Tue, 3 Oct 2000 13:27:54 -0500 (CDT)
From: Mike.Fowler@enron.com
Received: from nahou-ln9.corp.enron.com (unverified) by
nahou-msmsw03px.corp.enron.com (Content Technologies SMTPRS 4.1.2) with ESMTP
id <Bac1c0a274f077746b5@nahou-msmsw03px.corp.enron.com> for
<PETEJ@andrews-kurth.com>; Tue, 3 Oct 2000 13:27:53 -0500
Subject: Trading Edge
To: PETEJ@andrews-kurth.com
Date: Tue, 3 Oct 2000 13:27:57 -0500
Message-ID: <OF31424248.47DBF33B-ON8625696D.005FA861@corp.enron.com>
X-Priority: 3 (Normal)
X-MIMETrack: Serialize by Router on NAHOU-LN9/Enron(Release 5.0.1 (Intl)|16
July 1999) at 10/03/2000 01:27:58 PM
MIME-Version: 1.0
Content-type: text/plain; charset=us-ascii

The language you had Buy Side Direct add to section 5.2 their agreement
very clearly describes the role of BSD and their clearing firm:

   "BSD is the Subscriber's counterparty until trade affirmation.  After
   trade affirmation, BSD's clearing firm is responsible for the clearance
   and settlement of all affirmed trades executed on the BSD trading
   system".  (Section 5.2)

The Trading Edge agreement states that "all trades are executed by Trading
Edge on a riskless principal basis".  Does this language clearly indicate
that our credit exposure is to Trading Edge (until trades are affirmed) ?
If not, can we ask Trading Edge to incorporate language similar to the
above statement from the BSD agreement ?

Thanks.

Mike
713-853-9990


Start Date: 10/22/01; HourAhead hour: 23;  No ancillary schedules awarded.  Variances detected.
Variances detected in Generation schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001102223.txt

Error retrieving HourAhead price data - process continuing...
---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
     Details: (Hour: 23 / Preferred:   0.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: Wheelabrat
  MKT_TYPE: 2
  TRANS_DATE: 10/22/01
  UNIT_ID: MARTEL_2_AMFOR


You're on the list again! See you next week, Doug

>  -----Original Message-----
> From: 	Frazier, Doug
> Sent:	Friday, February 01, 2002 3:36 PM
> To:	Doug Andrews (E-mail); Bert Brehm (E-mail); Josi Keyser (E-mail);
> Kevin Holland (E-mail); Michael Dehaven (E-mail); Peter Blood (E-mail);
> Todd Torgerson (E-mail); Eric Strickland (E-mail); Scott Connelly
> (E-mail); Mike Lynch (E-mail); Dick Barnette (E-mail); Joe Morrato
> (E-mail); Andrew Goldberg (E-mail)
> Cc:	Frazier, Doug
> Subject:	Mid-C Seminar
>
> I'm happy to announce (you're the first to know, officially) that we are
> once again hosting the 6th annual Mid-C Marketing Seminar here in
> Wenatchee. The dates are July 9th for a semi-pro baseball game & BBQ, July
> 10th for the meeting and July 11th for a golf tournament. I realize this
> is an early request, but helps with the logistics as we approach the
> dates.
>
> Last year, your company helped us by making a donation in the amount of
> $500.00 toward sponsorship of the golf tournament. That was very
> beneficial to Mid-C Services, played a large part in the success of  the
> seminar and we appreciated it very much.
>
> We are offering you the same opportunity this year. Chelan PUD cannot
> legally sponsor this tournament, so your participation is important.
> Please don't feel obligated, but if this works for you, we will publicize
> your sponsorship as much as possible during the 2-day event.
>
> Most importantly, we want you to join us and participate in the learning
> and fun. Please respond to me at your convenience.
>
> Thank You, Doug
> 509-665-7867


- Daily.Dec13.pdf


Needless to say I had a pretty good idea of the location of the bottleneck.
Otherwise, I would have called you.

Peggy Banczak quit.  She told me herself, so it must be true.

ckm

	From:  Kathleen Carnahan                           04/23/2001 01:18 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Re: GE contracts

Kay,

I think your memory is correct.  You asked me to get this stuff to Ed, which
I did.

K-

Kay Mann
04/23/2001 12:29 PM
To: Sheila Tweed/HOU/ECT@ECT, Kathleen Carnahan/NA/Enron@Enron, Ed B Hearn
III/HOU/ECT@ECT
cc:

Subject: GE contracts

In speaking with Lee Johnson this am, he mentioned that he is still missing
final contracts for PSCO and CA Development.  I seem to recall that Sheila
had asked someone to pull this together, and that I had given Kathleen the CA
Development stuff.   I could be off track, but that's how I remember it.
There's probably someone with a better memory.

Thoughts?

Thanks,

Kay


FYI
---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on
23/02/2000 12:51 PM ---------------------------

Alexandre Bueno
21/02/2000 04:49 PM
To: BCC
cc:  (bcc: Brent Hendry/ENRON_DEVELOPMENT)
Subject: Brazil Power: October's Industrial Recovery and January's Rains... -
CERA Alert

Brazil Power: October's Industrial Recovery and January's Rains... - CERA
Alert

Brazilian power demand growth strengthened in October and November, rising
1.8 percent and 2.6 percent, respectively, above 1998 levels for those months
(see Figure 1). Industrial power demand led this growth, as industrial
physical output continued to recover along with Brazil's economy. Commercial
sector power demand growth also remained strong, but residential consumption
increased only as a result of the addition of new billed customers, as demand
per customer declined (see Table 1). Recent legislation to reduce the
government's fiscal imbalances will likely continue to support Brazil's
economic recovery, leading to higher power demand growth in the coming months.

Thermal power generation has taken on an increasing percentage of Brazil's
total supply, substituting for hydro generation because of abnormally low
rainfall throughout the spring months (see Table 2). Brazil's thermal
capacity is limited, however, and hydro reserves to meet growing demand
reached critically low levels by the end of December. The torrential rains in
early January reduced the threat of drought-induced shortages, but by the end
of the month reservoir stored energy levels in the South, Southeast, and
Central West regions were only half of those in January 1999. Stored water in
the North and Northeast regions was also significantly below the year-earlier
level. Although hydro output has kept pace with demand and reservoir water
levels continue to rise, the increase is much slower than historical rainy
season buildups. Sustained rains must continue to replenish reservoir volumes
for several months in order to eliminate the risk of power shortages.

Thermal Generation Remained High as Water Levels Stayed Low

Thermal generation continued to increase in December, reaching 1,847
gigawatt-hours (GWh), or 6.3 percent of Brazil's total generation (see Table
3). This increased reliance on thermal power was in response to the
critically low reservoir water volumes resulting from Brazil's recent drought
(see Figures 2 and 3). Although thermal generation was tapped to replace
hydro power to the extent possible, hydro generators continued to produce
power at levels similar to last year's in order to meet growing demand. The
strong rains in early January reduced the threat of drought-induced
shortages, but by the end of the month reservoir stored energy levels in the
South, Southeast, and Central West regions fell again to only 50 percent of
levels in January 1999, raising concerns among government regulators.

Stored water volumes in the North and Northeast regions were also
significantly below year-earlier levels, demonstrating that Brazil's power
capacity problem is affecting nearly all regions of the country. Brazil is
expected to add 1,200 megawatt (MW) of new thermal capacity in 2000, as well
as a further 1,309 MW of nuclear capacity when the Angra II unit enters
commercial operation. This new capacity will help meet the expected increase
in demand growth as Brazil's economy strengthens throughout the year but will
do little to mitigate power shortages if the current rainfall is insufficient
to replenish Brazil's reservoirs.

Industrial Activity: Recovery in October and November Boosts Power Demand

October met expectations of a gradual recovery in industrial activity. This
trend continued to gather steam in November, pushing power demand growth to
levels not seen since April 1998. October's industrial physical output
expanded 1.6 percent compared with that of September and 2.5 percent compared
with that of October 1998, reaching the highest level since September 1998.
In November, industrial output slowed slightly, dropping 0.1 percent compared
with October 1999, but remained 4.8 percent above November 1998 levels. Power
demand grew accordingly, reaching 3.5 percent in October and 3.8 in November,
making industrial power demand Brazil's fastest-growing sector for the month.
The year-to-date contraction in industrial output continued to shrink, with
cumulative output through November only 1.5 percent lower than the same
period in 1998. This recovery was enough to bring year-to-date power demand
into positive growth numbers for the first time, increasing 0.5 percent over
J!
anuary-November 1998.

October and November brought the strongest growth to the paper, beverage, and
transportation materials sectors, supported by improved prices in
international markets and the start of the summer. Consumer durable goods and
capital goods also expanded strongly in October and November, rising from
their weak performance of the first half of the year. Year-to-date growth has
been strongest in oil, oil product, and export-oriented sectors, whereas
consumer durable goods and capital goods have suffered the greatest
contraction.

On a regional basis, all states with a few exceptions showed positive growth
in industrial output in October and November. Only the Northeast region and
state of Bahia (still suffering from a lower level of oil industry activity)
reported negative performance in October 1998 (2.5 and 3.2 percent,
respectively), and Paran? was the only negative performer in November. S?o
Paulo registered its first positive performance (1.1 percent) in the past 14
months, and four states registered double-digit growth: Esp?rito Santo (19
percent), Minas Gerais (13.8 percent), Ceara (11.9 percent), and Rio Grande
do Sul (10 percent). Rio de Janeiro and Esp?rito Santo showed the strongest
year-to-date growth, while S?o Paulo's total 1999 output remained 5.5 percent
below that of 1998.

Part of the recent increase in year-over-year monthly output can be
attributed to the declining production levels in 1998 as the industrial
sector had already begun to contract by October 1998. In recent months,
however, there has been a slow but steady growth in industrial output, led by
a recovery in international markets for export products and an improvement in
the economic situation. This growth is expected to continue in the coming
months as Brazil's economy continues to strengthen.

Residential and Commercial Demand Growth Slows

Residential demand grew slowly in October and November, increasing only 0.1
and 1.0 percent year-on-year, respectively. Even this limited growth is due
entirely to the addition of new billable customers, which has expanded the
customer base by 4.6 percent in the 12 months ending in November 1999. During
that same period, per-capita power consumption declined 1.6 percent owing to
cooler average temperatures in 1999 and a 19 percent decline in purchases of
domestic electronic goods. The surge in consumer purchases following the Real
Plan stabilization has now subsided, and the reduction in consumer buying
power following the economic downturn has helped limit recent sales and use
of electricity-intensive consumer goods.

Commercial demand grew 3.6 percent in October and 3.2 percent in November,
slowing slightly from recent months to give year-to-date growth of 4.9
percent in November. Much of the growth in commercial demand was due to
internal tourism, which has benefited from the real devaluation. Increasing
electricity intensity of new businesses has also played a role, as new
businesses have greater electricity needs than their predecessors.

Conclusion

Although the recent rains have removed any risk of power shortages in the
near term, reservoir water levels remain dangerously low, leading the
government to develop an emergency thermal capacity building program. The
current rate at which dams are being replenished is insufficient to meet the
nation's needs within the historical rainy season. Either heavier rains or an
extended season will be needed to avoid drought-related power outages toward
the end of 2000. In the interim, thermal generation will remain higher than
historical averages and new units, including Cuiaba and Angra II, will help
increase thermal power contribution to the total generation mix.

As Brazil's economy continues to strengthen in 2000, power demand growth will
steadily increase. This growth will be felt first in the industrial sector,
as power demand rises with increased physical output. As consumer confidence
and buying power increase in tandem with economic growth, commercial and
residential power consumption will also return to precrisis levels,
surpassing 5 percent growth.

This combination of demand growth and uncertain water supply will greatly
increase the pressure for new generation capacity. Many risks and
uncertainties remain, however, limiting any project's ability to reach
financial closure. The continued delay in moving projects forward, combined
with an additional one to two years of construction once projects are made
viable, will further tighten Brazil's supply-demand balance in the coming
year, regardless of the availability of water.

Full report:

http://ei-sp-data01/biblioteca/cera/la_alt_02_16_99.pdf


The attached spreadsheet details positions by utility, although it is dated
11/7/00. EES has executed a number of new deals since then that added
regulatory positions.

---------------------- Forwarded by Vladimir Gorny/HOU/ECT on 01/24/2001
02:18 PM ---------------------------

Minal Dalia@EES
01/24/2001 01:46 PM
To: Vladimir Gorny/HOU/ECT@ECT
cc:
Subject:

Here is some position info-- having problems getting the data from the web.


FYI

 -----Original Message-----
From: 	eserver@enron.com@ENRON [mailto:IMCEANOTES-eserver+40enron+2Ecom+40ENRON@ENRON.com]
Sent:	Thursday, March 22, 2001 3:30 PM
To:	jderric@enron.com
Subject:	<<Concur Expense Document>> - Dong Ting

The Approval status has changed on the following report:

Status last changed by: Sherri Sera
Expense Report Name: Dong Ting
Report Total: $40.45
Amount Due Employee: $40.45
Amount Approved: $40.45
Amount Paid: $0.00
Approval Status: Accounting Review
Payment Status: Pending

To review this expense report, click on the following link for Concur Expense.
http://nahou-wwxms01p


Did he say what happened?  I thought he wasn't taking her until next week.

From: Suzanne Adams@ECT on 05/30/2001 11:21 AM
To: kay.mann@enron.com
cc:

Subject: Neil

Neil just called and is taking his mom to the doctor.  I told him I would let
you know (he didn't want to leave a voicemail).


This request from Shari is fine with me.  Could I also request a flat screen
for my new office?

Thanks for your help.  Let me know what else I need to do.
----- Forwarded by Elizabeth Sager/HOU/ECT on 10/10/2000 05:19 PM -----

	Shari Stack
	10/10/2000 02:39 PM

		 To: Elizabeth Sager/HOU/ECT@ECT
		 cc:
		 Subject: Flat Screen Monitor

I would like to request a 17 inch Flat Screen Monitor. I am moving into my
new office, 3805 A, as of tomorrow.

Thank you for taking care of this.

Shari


Ben - Shari Mao is making the changes discussed and then we will be
forwarding it to you for further review.  If you think the 3 year volume
chart is of use we will start updating it for 1999.

Thanks,
Leslie


Attached is a revised draft of the Purchase and Sale Agreement
incorporating the closing mechanics we discussed.  Also attached is a clean
copy.

Please send me your comments to this draft.

Hal.

 - BighornP.DOC
 - BL ENA PSA.doc


Liz and Tammie:

Mark Haedicke requested I get two different dates that Greg and Louise can be available to meet with the CFTC here in Houston.  The CFTC will come to review our operations and ensure we are operating in compliance with the law.

Mark has proposed to block out and hold Thursday, February 21, and Thursday, February 28.  Then we can submit those two dates to the folks at the CFTC and see which date they prefer.

Please advise if we can hold those two dates.  Many thanks.

Janette Elbertson
Legal Department
Telephone:  (713) 853-7906
Fax:  (713) 646-2600


STIRMAN & KENNEDY, P.C.
ATTORNEYS AT LAW
COMPASS BANK BUILDING
25211 GROGANS MILL ROAD, SUITE 120
THE WOODLANDS, TEXAS 77380-2174

E-MAIL: stirman@flex.net
WEB PAGE: www.flex.net/~snk

DONALD S. STIRMAN, MEDIATOR
CLIFFORD L. PARMLEY, M.D., J.D., OF COUNSEL
JOSEPH T. KENNEDY
ERIC R. HIRD
KEVIN T. SHEA
TELEPHONE (281) 367-5955
FAX (281) 292-7905

February 22, 2001

Via e-mail

Mr. & Mrs. Mike McConnell
13451 Belhaven Drive
Houston, TX  77069

RE: Proposed Unimproved Property Contract by and between Flair Construction
Co., Inc., as Seller, and Mike and Chris McConnell, as Buyer

Dear Mike:

We have read and reviewed the above referenced Contract and your letter to
us regarding same dated February 20, 2001.  We want to respond to the
questions and issues raised in your letter as well as make some suggestions
and comments about the proposed Contract itself.

First, the Contract being used is the standard type of Contract used for the
proposed transaction.  The Contract is promulgated by the Texas Real Estate
Commission and is to be used by all licensed Real Estate Brokers and Agents.
We are interested in knowing, however, if the Contract was filled out by Mr.
Larry Williams of Prudential Gary Greene Realtors.  If so, does Mr. Williams
represent you or Flair Construction Co., Inc.?  Please advise us
accordingly.

As we discussed, we think it is most important that you have the opportunity
to read and review the Construction Agreement that Flair Construction Co.,
Inc. intends on using for the construction of your home.  The fact that
Flair is both the Developer, as well as the potential Builder, raises some
issues.  Usually, Builders have agreements with the Developer regarding the
purchase of lots and building on same.  Often, lots are reserved to certain
Builders and if you purchase those lots you are required to use the
designated Builders.  However, often lots are free to be purchased by
potential homeowners who then can choose the Builder they want.  We are
interested in knowing if the lots you are purchasing are actually reserved
to Flair Construction Co. Inc., or is Flair just requiring you to use them
to build your home since they are selling you the lots in question?  As you
point out in your letter, if you sign the Contract as it now reads, you are
captive to the Builder and are not free to negotiate with other Builders.

It appears to us that you will be one of the first homeowners in this new
subdivision.  We think it is critically important that you get a copy of the
Deed Restrictions even before you sign the Contract to make sure that there
are restrictions in place regarding the size of homes to be built, size of
lots, etc.  We want to make sure that your home is not horribly atypical for
the neighborhood.

We do not know if The Lakes of Sterling Gate Estates is in the City of
Houston or within its extraterritorial jurisdiction.  This is something you
may want to find out as soon as possible.  If it is outside the city limits,
is there already a MUD district in place to provide water and sewer
services?  Since this is a brand new subdivision your concern regarding its
future development and tax rate is very legitimate.  Usually, until the
subdivision is fairly well built out, the Developer controls the Community
Association as well as the Architectural Control Committee.  Therefore, if
this subdivision does not take off you will be under the control of the
Developer.

We recommend in the strongest terms possible that you talk with recent
customers of Flair Construction Co. Inc., to make sure that they were happy
with the construction of their homes, as well as warranty work.  Some
Builders are far better than others as it relates to follow-up warranty work
after their customers move into their homes.  We normally recommend that
homeowners do not move into their homes until all punch list items are
completed to the satisfaction of the homeowner.

The foregoing was our general comments regarding the proposed Contract.  We
will now make more specific comments and suggestions in chronological order
regarding the Contract:

1. Paragraph 2. PROPERTY.  As we previously stated, we think it is important
that you acquire copies of the Restrictive Covenants and Deed Restrictions
as soon as possible.  You will be responsible to pay assessments to the
Property Owners Association.  Since Flair is both the Builder and Developer,
you may want to ask Mr. Kent for an estimate of what your Community
Association Fees will be.

2. Paragraph 5. EARNEST MONEY.  We suggest that the earnest money be paid to
the Title Company and not to Flair Construction Co. Inc.

3. Paragraph 6. TITLE POLICY AND SURVEY.  (6)  The standard printed
exception as to discrepancies, conflicts, shortages in area or boundary
lines, encroachments or protrusions or overlapping improvements is in your
Owners Policy.  In other words, the title policy does not cover these types
of discrepancies or conflicts.  However, if a survey is completed and an
additional fifteen percent (15%) of the policy premium is paid, the title
company will probably delete this exception.  This is something you may want
to consider.  However, this cost would be yours to incur.  If, however, it
is subsequently discovered that there are such discrepancies and conflicts
or shortages, then you will have title insurance coverage accordingly.

4. Paragraph 6. TITLE POLICY AND SURVEY, last paragraph.  Make sure you are
provided a copy of the Commitment for Title Insurance as soon as possible.

5. Paragraph 6. TITLE POLICY AND SURVEY B (3).  It appears to us that the
only survey you will be provided with by the Seller is one for the new
recorded plat of the subdivision.  Therefore, the Seller is not providing
you a survey of your actual lots.  If you were to have the standard printed
exception as to discrepancies and conflicts deleted, we believe you would
need a survey of your lots.  You will have seven (7) days after you receive
the Commitment and/or the survey to object in writing to any matters
disclosed or you will be deemed to waive such objections accordingly.
Therefore, please make sure that we have the opportunity to review the
survey and commitment as soon as possible after you receive same.

6. Paragraph 6. TITLE POLICY AND SURVEY (6).  We agree that this paragraph
relating to the Sellers right to continue to show the property for sale
should be deleted.

7. Paragraph 7. PROPERTY CONDITION: B (1).  We suggest that this paragraph
be checked and utilized rather than paragraph 7B (2) which states that you
will be accepting the property in its present condition.  Paragraph 7B (1)
states that you will pay a fee, usually very small, like $100.00, for the
unrestricted right to terminate the contract in the event the property is
not suitable for the purposes for which you intend on using it.  In other
words, you can have whatever inspectors you deem necessary to look at the
property to make sure that it is satisfactory for your home construction.
We often suggest that an independent inspector be hired by the homeowner to
inspect and review the construction of the home as it progresses.  In
addition, there may be some environmental issues or soil condition questions
that an inspector might raise if given the opportunity.  As the Contract now
reads, you are simply accepting the property as is and have no right to send
an inspector out to the property accordingly.

8. Paragraph 8. BROKERS' FEES.  You may want an affirmative statement that
you as the Buyer will not be responsible for or pay any Brokers' fees.

9. Paragraph 11. SPECIAL PROVISIONS.  It is written in that the closing on
these lots will be as soon as roads are in place or on March 1, 2001,
whichever is later.  However, we do not know what roads are being addressed
and think that this sentence needs far more specificity.  The second
sentence regarding your obligation to use Flair Homes has already been
addressed earlier.  The third sentence regarding when construction must
start should be revised to give you more time as you make reference in your
letter.  However, we also suggest that the Builder be put under an
obligation to start construction within thirty (30) days after the date you
notify him that you are ready for construction to begin.

10. Paragraph 13. ROLLBACK TAXES.  If there was ever an agricultural or
timber exemption on this property, you need to know.  Otherwise, you will be
obligated to pay rollback taxes on the property which may go back five (5)
years.

11. Paragraph 18. ESCROW.  As we indicated earlier, we believe your earnest
money should be paid to the title company.  In light of the fact that the
earnest money is in excess of $50,000.00 and the closing date on the lots is
somewhat uncertain, we suggest that you ask the title company to deposit the
earnest money in an interest bearing account and that you receive a credit
accordingly.

Please call us after you read and review this letter.

Very truly yours,

Donald S. Stirman

DSS/csb


FYI.

----- Forwarded by James D Steffes/NA/Enron on 02/21/2001 09:47 AM -----

	Tim Belden@ECT
	02/21/2001 09:33 AM

		 To: James D Steffes/NA/Enron@ENRON
		 cc:
		 Subject: Re: RTO Advocacy Positions

i concur.

From: James D Steffes@ENRON on 02/21/2001 09:13 AM CST
To: Kevin M Presto/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT
cc: Alan Comnes/PDX/ECT@ECT, Christi L Nicolay/HOU/ECT@ECT, Joe
Hartsoe/Corp/Enron@Enron, Mary Hain/HOU/ECT@ECT, Sarah
Novosel/Corp/Enron@Enron, Steve Walton/HOU/ECT@ECT, Susan J Mara/NA/Enron,
Ron McNamara/NA/Enron@Enron, Jeff Brown/NA/Enron@Enron, Steven J
Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron
Subject: Re: RTO Advocacy Positions

To the discussion I would add the following -

1. Our efforts to push hard zonal markets has not been overly successful.
The opponents of such schemes continue to win converts that the interzonal
and intrazonal congestion costs will be large and that it is very difficult
to get the "right" zones.  Moreover, in markets like ERCOT, the zonal
structure has been co-opted by the large incumbents to frustrate the
development of the market.

2. One solution discussed throughout the East is the "Hybrid" model - LMP in
the real-time and Flowgates to manage forward transmission congestion.  If
structured properly, this allows the power desk to have (a) a real-time
energy market and (b) managable transmission risk.  There are disagreements
between the policy "experts" about Flowgates (see point 5).

3. Our goal is to work within the RTO process and build markets that work for
Enron.  Key goals - 1. single control area for the RTO, 2. real time energy
market with no penalties for unbalanced positions, 3. market hubs (similar to
PJM West) for liquidty, and 4. manageable transmission congestion using
market solutions.

4. I agree with Tim that it is very difficult to come up with "one" perfect
market structure proposal for Enron (both for technical and timing reasons -
California is in a different place than SPP).  We are trying to coordinate
our statements in each of the markets as much as possible.  Most importantly,
and we have had some troubles in ERCOT lately, we need to make sure that
saying something in one market doesn't damage our other advocacy efforts.
Government Affairs is trying to make sure that we push at the right time and
place and ensure that our messages have the necessary context.

5. We still hear some open questions about the best form of market-based
congestion managment (option vs. obligation; use it or lose it).  Christi
Nicolay is having a call on Friday to discuss these issues.  Please contact
her if anyone from your teams should attend.

Call with any other questions.  At some point, we need to ensure complete
agreement of our policy(s) and our advocacy efforts on RTOs.

Jim

	Kevin M Presto@ECT
	02/20/2001 06:35 PM

		 To: Tim Belden/HOU/ECT@ECT
		 cc: James D Steffes/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Sarah
Novosel/Corp/Enron@ENRON, Joe Hartsoe/Corp/Enron@ENRON, Steve
Walton/HOU/ECT@ECT, Alan Comnes/PDX/ECT@ECT, Mary Hain/HOU/ECT@ECT
		 Subject: Re: RTO Advocacy Positions

Are you putting words in my mouth Tim.

The East is absolutely adamant about having a liquid real-time energy markets
with a "real supply curve" and a "real demand curve" such that hourly
clearing prices reflect the true economic value of the commodity.   With
respect to the number of hourly price signals within an RTO that is
necessary, that is subject to much debate.   Although I prefer a zonal model
for simplicity reasons, the reality is that congestion is more prevalent in
the East in most of the markets and in order to get a functioning real time
energy market, we may have settle for a limited LMP, in which nodal pricing
is necessary for managing the congestion, but proxy buses are created in
zones (3-5 per RTO) for purposes of real-time energy markets.

Our views, I believe, are still very much aligned, however, I need to make
some progress on the creation of real time energy markets.   The zonal
markets implemented in NEPOOL and contemplated for ERCOT result in a
mis-priced commodity with no "real" price signal sent to the market.   Out of
merit generation is and will continue to be dispatched because the congestion
is managed through energy uplift payments (congestion price signal is not
sent to the market).   This results in a very inefficient commodity market
where the consumer gets screwed and market makers can't price the commodity
or transportation on a forward basis.

I hope this clarifies any misunderstanding.

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

Steve Walton was in Portland last week and updated me on the latest vision
for RTO's that was developed by the east desk.  This vision seems to differ
somewhat from what we are advocating in the west.  In particular, it seems
like the east has embraced a nodal system while the west is firmly planted in
the zonal / flow-gate camp.  I have asked Steve to flesh out more details of
the nodal approach -- in particular, how do the nodes map to a fairly
homogeneous zone and how does this impact pure trading positions (i.e., a
transaction with no asset being directly scheduled to support it) versus
asset-based trades where the meter must settle with the RTO while the trade
settles with the market.

It may be that the physical characteristics of the east and west warrant
different models.  For example, the west has large, long-distance, high
voltage lines that are very amenable to a zonal approach.  The east has more
local transmission bottlenecks that may not be modeled as easily.  It also
could be that the political reality in the east and west require different
positions.  As things sit now, there is no way that a zonal approach could
fly in the northwest.  In contrast, PJM seems firmly planted in the nodal.
Finally, it could be that the east desk and the west desk have a difference
of opinion on what the "ideal" market structure should be.  If that is the
case, then perhaps we need to talk some more.

Given the different advocacy positions in the east and the west, I don't
think that we can come up with a broad, nationwide advocacy position at this
time.  That is, I don't think that we should endorse either zonal or nodal as
"the answer" at FERC.  Instead, I think that we should focus on the
objectives that RTO's should try to achieve and be flexible as to what the
best market structure should be to achieve these objectives.

What do you guys think about this?

Regards,
Tim


----- Forwarded by Sara Shackleton/HOU/ECT on 06/01/2000 06:29 PM -----

	Mail Delivery Subsystem <Mailer-Daemon@postmaster.enron.com>
	06/01/2000 06:27 PM

		 To: <Sara.Shackleton@enron.com>
		 cc:
		 Subject: Returned mail: User unknown

The original message was received at Thu, 1 Jun 2000 18:27:22 -0500 (CDT)
from mailman.enron.com [192.168.189.66]

   ----- The following addresses had permanent fatal errors -----
<sshackl@swbell.com>

   ----- Transcript of session follows -----
... while talking to sbcsmtp1.swbell.com.:
>>> RCPT To:<sshackl@swbell.com>
<<< 553 <sshackl@swbell.com>... Try sshackl@swbell.net
550 <sshackl@swbell.com>... User unknown

   ----- Original message follows -----

Return-Path: <Sara.Shackleton@enron.com>
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X-Lotus-FromDomain: ECT
From: "Sara Shackleton" <Sara.Shackleton@enron.com>
To: sshackl@swbell.com
Message-ID: <862568F1.0080D4D7.00@notes.ect.enron.com>
Date: Thu, 1 Jun 2000 18:27:11 -0500
Subject: Re: Your Bravo 20 order #1261
Mime-Version: 1.0
Content-type: text/plain; charset=us-ascii
Content-Disposition: inline

----- Forwarded by Sara Shackleton/HOU/ECT on 06/01/2000 06:26 PM -----
|--------+----------------------->
|        |          Don Albers   |
|        |          <offiweb@yaho|
|        |          o.com>       |
|        |                       |
|        |          06/01/2000   |
|        |          04:23 PM     |
|        |                       |
|--------+----------------------->

>----------------------------------------------------------------------------|
  |
 |
  |       To:
Sara.Shackleton@enron.com                                    |
  |
cc:                                                                  |
  |       Subject:     Re: Your Bravo 20 order #1261
 |

>----------------------------------------------------------------------------|

Dear Ms. Shackleton:

That is correct, we will not charge your card until we
ship.  Please let us know if you have any more
questions.

Thank you,
Jennifer
OFFI & Company

--- Sara.Shackleton@enron.com wrote:
>
> Thank you for the confirmation.  I assume that I am
> not charged until you
> ship.  Is this correct?
>
>
>
>
>
>                     Don Albers
>
>
>                     <offiweb@yaho        To:
> sara.shackleton@enron.com
>
>                     o.com>               cc:
>
>
>                                          Subject:
>  Your Bravo 20 order #1261
>
>                     05/31/2000
>
>
>                     11:50 AM
>
>
>
>
>
>
>
>
>
>
>
>
> Dear Ms. Shackleton:
>
> Thank you for your recent order placed at
> www.bravo.com.  Bravo 20 has recently merged with
> OFFI
> & Company.  During this transitional period, our
> time
> between order receipt and shipping is longer than
> usual, as we are in the midst of manufacturing and
> re-stocking.
>
> Due to this delay, the approximate shipping date for
> your order is 7/25/00, although we hope the actual
> ship date will be earlier.  Please do not hesitate
> to
> contact us at 800-383-OFFI(6334) or
> offiweb@yahoo.com
> if you have any questions or if we can be of further
> assistance.
>
> Thank you,
> OFFI & Company
>
>
>
> __________________________________________________
> Do You Yahoo!?
> Send instant messages & get email alerts with Yahoo!
> Messenger.
> http://im.yahoo.com/
>
>
>

__________________________________________________
Do You Yahoo!?
Send instant messages & get email alerts with Yahoo! Messenger.
http://im.yahoo.com/


Additional Information for Security Resource Request  EMLN-4RTJL2 has been
provided by Security.

To view the request, double click your left mouse button on the Notes
document link below.


Rob,
After reviewing both Lauren's and Jeff's comments, I have little to add.  I
would, however, replace the last part of Jeff's sentence in the first
paragraph with "and there is a need to take a comprehensive look at
strategies for reducing CO2  emissions more broadly, in ways that make
economic and environmental sense" to avoid mentioning the Kyoto Protocol
directly.
And, I'd like to reiterate Lauren's suggestion that the article should direct
employees to our climate change policy statement in last year's EHS Report
and that Lay encourages them to research and reflect on the issue and
communicate their thoughts.
Thanks,
Catherine

Catherine McKalip-Thompson
Manager, Environmental Responsibility
Enron Corp.
101 California Street, Suite 1950
San Francisco, CA 94111
Tel: 415.782.7842
Fax: 415.782.7854

	Jeffrey Keeler@ENRON
	03/23/01 08:35 AM

		 To: Rob Bradley/Corp/Enron@ENRON
		 cc: Ann M Schmidt/Corp/Enron@Enron, Lauren Iannarone/NY/ECT@ECT, Michael
Terraso/OTS/Enron@Enron, Steven J Kean/NA/Enron@Enron, Catherine
McKalip-Thompson/Enron Communications@Enron Communications
		 Subject: Re: Ken Lay Statement to Employees on Bush CO2 Policy

Rob:  Here are my edits below, in bold.  Sorry to re-write so much -- but I
believe this is consistent with Steve's conversation with Ken, and with the
media interviews he has given to date, as well as our advocacy on
multipollutant and climate change.  Jeff

Jeffrey Keeler
Director, Environmental Strategies
Enron
Washington DC office - (202) 466-9157
Cell Phone (203) 464-1541

	Rob Bradley
	03/23/2001 10:14 AM

		 To: Jeffrey Keeler/Corp/Enron
		 cc: Michael Terraso/OTS/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Lauren
Iannarone/NY/ECT@ECT, Ann M Schmidt/Corp/Enron@ENRON
		 Subject: Ken Lay Statement to Employees on Bush CO2 Policy

(KEELER EDITS)
Here is my draft for Ken in response to Ann's eBiz request.  Comments welcome

"The President, after a good deal of study and soul searching, decided not to
support mandatory controls on carbon dioxide (CO2) emissions from power
plants as part of a multipollutant clean air strategy.   His decision was
based on some very important factors -- the nation's energy markets are
experiencing unprecedented supply and price challenges that any CO2 mandate
could exacerbate; and U.S. regulation of CO2 in the near-term could be
ill-advised because the Kyoto protocol on global treatment of greenhouse gas
emissions is unworkable in its current form.

"I was somewhat concerned that the message sent by the Bush administration
would polarize the debate over how the U.S. should treat CO2 emissions in the
long term, as his statement did provoke a very negative "anti-environment"
reaction by many concerned individuals and organizations.  Because this is an
important issue to all parties on all sides of the debate, I believe that the
administration should convene an ongoing process to carefully examine global
climate change and all the long-term economic, scientific, and social impacts
of action regulate CO2 emissions."

"The President's position on CO2 notwithstanding, Enron continue to be a
private sector leader in offering real solutions towards reducing greenhouse
gas emissions in a rapidly expanding energy market.  We are well-positioned
through our experience with low-carbon fuels for electric generation (natural
gas and wind in particular), our focus on new power generation and
tecnologies, our leadership position in promoting efficiency through Enron
Energy Services' energy outsourcing business, and our expertise in emissions
trading and risk management."

"A multipollutant appraoch to reducing power plant emissions makes a lot of
sense from and environmental and energy policy standpoint.  Enron will
continue to work with the Bush administration and Congress toward structuring
a program that can achieve environmental goals while providing incentives to
build cleaner, more efficient generation, promoting a broad mix of fuels and
tecnologies, and giving industry the flexibility and economic incentives to
make reductions in a market-based, cost-effective way.  If we're able to make
meaningful reductions in 3 pollutants -- NOx, SO2 and mercury -- and we do it
in a way that promotes efficiency and new technology, we'll make progress on
CO2 whether it is regulated or not."

In the meantime, I will remain active in the global climate change debate to
position Enron as a constructive player in the public policy arena and as an
industry leader in promoting market-driven solutions to the world's energy
and environmental problems.

----- Forwarded by Rob Bradley/Corp/Enron on 03/22/2001 05:55 PM -----

	Rosalee Fleming
	03/22/2001 11:16 AM

		 To: Rob Bradley/Corp/Enron@ENRON
		 cc: Tori L Wells/HOU/ECT@ECT
		 Subject: eBiz Story

Rob, will you please draft a quote for Ken on these issues.
---------------------- Forwarded by Rosalee Fleming/Corp/Enron on 03/22/2001
11:06 AM ---------------------------

Ann M Schmidt
03/22/2001 11:04 AM

To: Kenneth Lay/Corp/Enron@ENRON
cc:
Subject: eBiz Story

Hi Mr. Lay,

I am a Specialist in Corp. PR, under Karen Denne, and write for our internal
eBiz publication.  I am working on a story about the recent issue with
respect to carbon dioxide emissions and Enron's position compared to
President Bush's as well as the coal industry.

I know that Bush's viewpoint on this issue is not to regulate carbon dioxide
emissions from coal-burning power plants. I also understand he based his
decision in large part due to a recent Department of Energy report that warns
that such a policy would lead to an even more dramatic shift from coal to
natural gas for electric power generation and significantly higher
electricity prices causing problems similar to California.

I wondered if you would mind adding first hand knowledge for employees.  A
quote from you about this issue would be great.  I would also be interested
in giving employees some of your reasons for being in favor of controlling
CO2 such as your idea for a credit trading system for CO2.

Thank you for your time and please let me know if you have any questions.

Thanks,
 Ann Schmidt
 (x54694)


We are playing at the same location (directions are below) and at the same
time (7 pm).  We need to have all the ladies show up or we forfeit. Look
forward to playing on Thursday.
---------------------- Forwarded by Paul Choi/SF/ECT on 04/24/2001 09:52 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Michael E Vixie" <mevixie@regence.com>
04/18/2001 03:16 PM

To: Paul.Choi@enron.com
cc:
Subject: Re: Directions

Paul -

CSC is short for "Child Services Center".  It is what used to be Washington
High School.  The adress is SE 14th and Stark.  The gym is south of Stark,
between Stark and Morrison.

Mike

From: Paul.Choi@enron.com on 04/18/2001 02:41 PM

To:   mevixie@regence.com
cc:

Subject:  Directions

Mike,

Can I get the directions or address to tomorrow's match for the Fractals, I
think it is at 7pm in the csc 1.  Also thanks for being flexible in
changing our schedule.

Regards,

Paul


Following please find the Daily EnronOnline Executive Summary.

<Embedded Picture (Metafile)>


We cooked that sucker at Thanksgiving.  Not much meat either.

To: Chris Germany/HOU/ECT@ECT
cc: Jay Knoblauh/HOU/ECT@ECT
Subject: Re: Beer???

Letme see if I got all this...
 7:00 at BW3
 I've got the first round
  to include but not limited too...
   Six  Russian Women and Bertha the Beautiful.
 Chris is buying the fries.
 And Jay has the next ten rounds
 What about the partridge in a pear tree...?

Chris Germany
12/07/2000 02:49 PM
To: Jim Homco/HOU/ECT@ECT
cc:
Subject: Re: Beer???

7ish

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Beer???

What time ?

Chris Germany
12/07/2000 02:38 PM
To: Jim Homco/HOU/ECT@ECT
cc:
Subject: Re: Beer???

Need you ask?  BW3

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: Re: Beer???

Where are we going ?

Chris Germany
12/07/2000 01:18 PM
To: Jim Homco/HOU/ECT@ECT, Jay Knoblauh/HOU/ECT@ECT
cc:
Subject: Re: Beer???

I got the first round, 1 beer, 6 straws.

To: Jay Knoblauh/HOU/ECT@ECT
cc: Chris Germany/HOU/ECT@ECT
Subject: Re: Beer???

How many are you going to order in the first round ???

To: Jim Homco/HOU/ECT@ECT
cc: Chris Germany/HOU/ECT@ECT
Subject: Re: Beer???

if somebody picks up the first round then I'll pick up the next ten.


yes, yes, and yes.

You're on a roll....

From: Greg Krause/ENRON@enronXgate on 05/25/2001 11:57 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: FW: letter

Kay,

is this what you meant?

Consistent with the results of the Feasibility and Facilities Studies and
discussions that have been held to date between Florida Power & Light Company
(&FPL8) and Midway Development Company, L.L.C (& Midway and its designees
referred to as &MDC8), by this letter MDC authorizes FPL to perform the
necessary studies, analysis and other activities required to develop and
support a schedule the necessary for a potential power project to
interconnect with FPL,s transmission grid system and receive back-feed by
March 15, 2002.

Does this letter get the "Oricle's" seal of approval?

If Ben needs to sign this, would it be ok if he faxed it to FPL?

 -----Original Message-----
From:  Mann, Kay
Sent: Friday, May 25, 2001 9:05 AM
To: Krause, Greg
Subject: letter

My suggestions:


Mark -

Attached is an outline of what the site is intended to look like (as designed
in PowerPoint).  The name - LegalOnline - has pretty much been determined,
but the logo and tag line are still up in the air.  I put the attached
together to give the IT design group an idea of the look and feel we are
trying to hit.

I welcome any suggestions or comments and would be more than happy to walk
you through the way it is envisioned the site will work.

Mark
Senior Counsel, ENA
Phone:     713-345-8897
Facsimile: 713-646-3940
E-Mail:      Mark.Greenberg@enron.com


If it's truly the real thing.  I'll take two cases.  Thanks for asking.

	Nancy Sellers <Nancy.Sellers@RobertMondavi.com>
	10/04/2000 11:49 AM

		 To: Cameron <cameron@perfect.com>, Jeff Dasovich <Jeff_Dasovich@enron.com>,
"Prentice @ Berkeley" <PSellers@haas.berkeley.edu>, Prentice Sellers
<PSellers@pacbell.net>, Scott Laughlin <scottwl@hotmail.com>
		 cc:
		 Subject:

Dad/Eldon is going to get some Acacia Chardonnay for $5 per bottle.  We had
some at Hopkins last night and it was really very good.  It is unlabeled but
it is Acacia chard.  I know you don't drink a lot of white wine - but you
might want some around.  Let us know - he needs to order it before he goes
and he is going to try to go tomorrow.
Cameron - I need a few days to make any arrangements you want me to do in
Italy - so please let me know.
I will be out of the office the rest of the day.  Home around 6 or 7.

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


I will be out of the office on Tuesday, May 15.  I am taking a vacation day while my parents will be in town for my daughter's piano recital.  Patti (x39106) has cell and home numbers where I can be reached.  I will be back in the office on Wednesday, May 16.


Sorry about the Greek in the first paragraph of my last E-mail.  I still
can't figure out how I did that.  All I said was, as you know, CMUA filed a
complaint with FERC asking for cost-based rates and introducing an outline of
an answer to the legal issues.

Under the FERC rules, we are required to file an answer to the complaint.  I
have also asked Seabron for an estimate for answering the economics
assertions raised in CMUA and PG&E's filings.
---------------------- Forwarded by Mary Hain/HOU/ECT on 10/18/2000 11:18 AM
---------------------------

Mary Hain
10/18/2000 10:37 AM
To: Christian Yoder/HOU/ECT@ECT, steve.c.hall@enron.com, Richard Sanders,
Susan J Mara/SFO/EES@EES, Mona Petrochko, jdasovic@ees.enron.com, Paul
Kaufman/PDX/ECT@ECT, James D Steffes/NA/Enron@Enron, Joe Hartsoe@Enron, Sarah
Novosel/Corp/Enron@ENRON, James E Keller/HOU/EES@EES, Mike D
Smith/HOU/EES@EES, Harry Kingerski/HOU/EES@EES, Dennis Benevides, Tim
Belden/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Jeff Richter/HOU/ECT@ECT
cc: Christi Nicolay, carrrn@bracepatt.com
Subject: Proposed Answer of CMUA's Complaint

As you have already heard, California Municipal Utilities Association filed a
complaint with FERC asking for cost based rates. The following is a brief
outline of an EPMI/EES answer to the complaint.  The answer is due Friday.
Please send me any comments ASAP.

? The complaint should be rejected because it wrongly assumes that the
Commission has no option to ensure just and reasonable rates but to require
cost based rates because there is no low cost solution to the problems
currently faced by the California markets.  We should attach our white paper
to our protest and state that the paper explains how these problems could be
solved at little or no cost to the customers.
? I list here, for your information, the reasons CMUA claims that markets are
not competitive (these reasons will not be re-listed in the pleading).
? 2000 prices greatly exceeded 1999 prices without regard to load.
? zonal constrained prices, even in the off-peak hours, do not reflect
competitive outcomes for low load conditions.
? even small players can be price setters
? The changes required are additional generation, transmission, and demand
response and will cost tens of millions of dollars and take lengthy periods
of time to implement.
? There is no evidence that markets will ensure just and reasonable rates in
the near future.
? CMUA asserts that with the advent of electric restructuring, the Commission
has increasingly allowed energy and ancillary services to be sold at
market-based rates.  However, CMUA is wrong in the context of the West where
there has been market-based trading of electricity before electric
restructuring, since the FERC approved the Western Systems Power Pool,s
contract in 1991.  The Commission,s rules didn,t create the wholesale market
in the past, the market did and it was running fine until it was messed up by
certain market rules were imposed that are enumerated in our paper.  The
problem is not the market-based rates.  The problem is the market rules.
? CMUA,s motion does not address how market-based rates would be calculated
for marketers that do not sell power from their own resources, let alone
reflect the trading of basis points.  Almost all of the power EPMI sells is
power it has bought from some other marketer or generator.  Many of EPMI,s
deals are done through brokers such that EPMI does not find out the identity
of the seller until after a deal has been struck.  Accordingly, EPMI gets no
information about the cost of the underlying generation.
? If FERC doesn,t try to fix the market but simply takes away our
market-based rates, since there,s is no basis for us to set cost based rates,
we would go out of business.  Besides there,s no reason to take away our
market-based rates because we are not exercising market power.  So if FERC
could fix the problem with a less onerous solution (as we,ve proposed in our
white paper), requiring cost-based rates would constitute a regulatory taking
of our business and we would have to be compensated using the constitutional
standard.
 CMUA does not provide any expert testimony to support its position.  Rather,
its evidence is &drawn from materials prepared and testimony delivered by the
California ISO and other public sources.8  Beyond the difficult evidentiary
issue posed by the fact that CMUA cannot swear to the veracity of information
produced by third parties, EPMI would have no opportunity to conduct
discovery or cross-examine of such &witnesses.8


one for me
Jeff Blumenthal - tax
Steve Douglas - tax
Ryan Siurek - accounting (Global Finance)

	Taffy Milligan
	09/21/2000 07:35 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: Re: ISDA Notebooks

Good morning, Sara.

- I have recieved the ISDA Notebooks from the printers.  I will be happy to
distribute the four sets that you requested.  Please provide name, address,
etc.
- The ISDA Notebooks now consist of 3 volumes.   The definitions have been
split into two binders.  Would you like me to update your binder?

tm

	Sara Shackleton
	09/07/2000 11:27 AM

		 To: Taffy Milligan/HOU/ECT@ECT
		 cc:
		 Subject: Re: ISDA Notebooks

I would like 4.  Thanks.  Sara

	Taffy Milligan
	09/07/2000 11:02 AM

		 To: Susan Bailey/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT,
Mark Taylor/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Jason
Peters/Corp/Enron@Enron, Mary Cook/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron,
Robert Bruce/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron
		 cc: Suzanne Adams/HOU/ECT@ECT, Legal Temp 1/HOU/ECT@ECT, Kaye
Ellis/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Becky Tlucek/HOU/ECT@ECT,
Chaundra Woods/HOU/ECT@ECT, Brenda Whitehead/HOU/ECT@ECT
		 Subject: ISDA Notebooks

Good morning.

Following-up yesterday's discussion regarding the ISDA Notebooks, I am
preparing to have extra sets of the ISDA Notebooks printed.  Please advise
how many sets you need, if any.

Taffy


The Commission denied the requests for rehearing (including Enron's) of the Commission's July 25 order on reporting requirements for California natural gas transactions.  The Commission finds that the information is necessary for FERC to better understand how the California natural gas market operates so the Commission can determine whether anything else is needed to be done to protect consumers.  Also, FERC states that the information is necessary for the Commission to advise Congress on whether Congress needs to change the regulatory framework that FERC works under.

A more detailed summary will be provided shortly.  Please let us know if you have any questions.

Sarah


i haven't seen you in forever! i wish i could meet you for dinner, but i have
class until 8:45 tonight and my mom is having surgery tomorrow. How does next
week sound to you?


?
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																	Enerfax Daily

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																											Looking  for a past article or issue. Click here to use Sagewave's  Search.

																										Enerfax  Daily? -? Page  ? -? November 9, 2000

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																																	Enerfax  Daily? -?  Page 4? -?  November 9, 2000 -? ?  Past  Issues Available
on Sagewave

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																												financial  strength and keep up with the 3%annual growth in Wisconsin's
electricity demand. The plan, pending regulatory approval, aims to  build at
least one 500 MW combined cycle natural gas-fired unit and  at least two 600
MW coal-fired units over the next decade, for a  total of 1,700 MW. More
units may be built after 2010, eventually  raising new generation capacity in
the state to around 3,000 MW.  Wisconsin Public Service also hopes to add to
the state's power grid  by building the Arrowhead-Weston line, a 250-mile 345
kilovolt  transmission line from Minnesota to central Wisconsin. The line
would directly link Wisconsin to power supplies in Canada and North  Dakota,
easing transmission bottlenecks to the west and south.  Wisconsin imports up
to 20% of its power.

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																						Natural? Gas? Storage?  Report

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																								? ? ? ? ? ? Week?  ? ? ? ? ? ? ? ? ?  ? ? ? ? ? ? ? ?  Prev?
																								? ? ? ? ?  ?Ending? ? Prev? ? ? ?  ? ? ? ? ? ?Prev? ?  Year? ?
																								| Region | 11/03/00| Week | Diff | % Full | Year |  % Full
																								|  Prod? ?|? ?687? ?|? 667  |? 21? |? 72%? ?|? 852 |?  89%? ?
																								| East? ?|? 1678?  ?| 1660 |? 17? |? 91%? ?| 1721  |? 94%? ?
																								| West? ?|? ?383?  ?|? 385 |? -2? |? 76%?  ?|? 434 |? 86%? ?
																								|? ? ? ?  |? ? ? ? ?|? ? ?  |? ? ? |? ? ? ? |?  ? ? |? ? ? ?
																								| Total? |? 2748?  ?| 2712 |? 36? |? 83%? ?| 3007  |? 91%? ?

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																														Demand Exceeds BPA Supply BPA

																														? ? Customer demand under new 10-year wholesale  power contracts with the BPA
is so strong that the agency must  purchase power on the open market to
augment its supply. To recover  the cost of these purchases, it proposes to
tack a 15% charge onto  wholesale rates effective next October. Even with an
additional  charge, BPA's wholesale rates are still well below wholesale
market  prices currently forecast for the next five years on the West Coast.
BPA signed new wholesale contracts last week with more than 130  Northwest
utilities and industries for 10-years. Those agreements  pushed its total
firm energy load? up to 11,000 MW. That is  almost 3000 MW more than the
federal Columbia River Power System can  generate on a firm basis.

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BMO wants to do this sleave trade.  Duke, Dynegy, Coral, and Reliant have offsetting positions.  Who's best for us to do this with?  Also, what's our current balance with BMO?  Should I demand for the trade to be offmarket?

 -----Original Message-----
From: 	"DeVeny, David" <David.Deveny@Bmo.com>@ENRON
Sent:	Monday, October 29, 2001 5:23 PM
To:	'jarnold@enron.com'
Subject:

John:

Bank of Montreal would like to take Enron up on the offer you made this
afternoon to help balance our short swap exposure with your organization and
replace it with a third party Enron may have offsetting transactions with.
Per our conversation, to offset the contracts that we are short to Enron,
our position would allow us to accommodate the following transactions:

Buying five and a half (5.5) contracts a day December 2001 (Z01) natural gas
last day swaps from Enron and selling to a third party
Buying sixteen and a half (16.5) contracts a day January 2002 through
December 2002 (F02-Z02) natural gas last day swaps from Enron and selling to
a third party
Buying four (4) contracts a day April 2003 through October 2003 (J03-V03)
natural gas last day swaps from Enron and selling to a third party
Buying two (2) contracts a day January 2004 through December 2008 (F04-Z08)
natural gas last day swaps from Enron and selling to a third party

If you find an appropriate offsetting positions please contact me at
212-605-1475.

Thank you,

David DeVeny
Bank of Montreal
Commodity Derivatives Group

****************************************************************************
This e-mail and any attachments may contain confidential and privileged information. If you are not the intended recipient, please notify the sender immediately by return e-mail, delete this e-mail and destroy any copies. Any dissemination or use of this information by a person other than the intended recipient is unauthorized and may be illegal. Unless otherwise stated, opinions expressed in this e-mail are those of the author and are not endorsed by the author's employer.


Team:

We are making progress in completing a transaction for the sale of Houston
Pipe Line and are finalizing our goals and objectives for 2001.   I would
like to invite you to a brief meeting starting at 4:30 on Wednesday the 20th
in conference room 5C2 to discuss our activities over the next several months
if the sale is finalized.  Attendance is optional.

Regards,
Brian


TD {font-family: Arial, Helvetica, sans-serif; font-size: 10pt; font-weight: normal; color: black; }   .myWxTitle {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 10pt; font-weight: bold; color: white; }   .myWxTitle1 {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 9pt; font-weight: bold; color: black; }   .myWxTitle2 {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 9pt; font-weight: bold; color: 003399; }   .drkWxTitle {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 11pt; font-weight: bold; color: black; }   .redWxTitle {font-family:  Arial, Helvetica, sans-serif; font-size: 10pt; font-weight: normal; color: red; }   .blueWxTitle {font-family:  Arial, Helvetica, sans-serif; font-size: 10pt; font-weight: normal; color: blue; }  	 .smallWxTitle {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 8pt; font-weight: normal; color: white; }  .smallDrkWxTitle {font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 9pt; font-weight: normal; color: black; } 	 .categoryTitle { font-family: Verdana,Arial,Helvetica,Sans Serif; font-size: 10pt; font-weight: bold; color: black; }  .bodyText { font-family: Arial,Helvetica,Sans Serif; font-size: 10pt; color: black; }  .captionText { font-family: Arial,Helvetica,Sans Serif; font-size: 8pt; color: black; }  .sectionTitle { font-family: Verdana,Arial,Helvetica,Sans Serif; font-size: 10pt; font-weight: bold; color: black; }
[IMAGE]
  Doug's weather for 2/6/2002 Update Profile  | Unsubscribe    [IMAGE]  Local Outlook for Houston, TX           5 DAY FORECAST        Hi  Lo  Today  [IMAGE] Scattered Showers 47?F  37?F  Thu  [IMAGE] Mostly Sunny 59?F  41?F  Fri  [IMAGE] Partly Cloudy 66?F  44?F  Sat  [IMAGE] Partly Cloudy 70?F  42?F  Sun  [IMAGE] Partly Cloudy 67?F  45?F      [IMAGE]              DETAILED FORECAST    Today: Rain showers early tapering off to a few sprinkles by the afternoon.  Temps nearly steady in the upper 40s. Winds NNW 10 to 15 mph. Chance of precip 70%. Tonight: Cloudy skies early, followed by partial clearing.  Low near 37F. Light NNW winds. Tomorrow: A few clouds from time to time.  High around 59F. Winds N 10 to 15 mph. Tomorrow night: Mostly clear skies.  Low around 41F. Calm winds.          WEATHER HEADLINES   Wintry weather across the South  Wintry weather will cover the South tonight into Wedensday.  [IMAGE] More details   [IMAGE]      MAPS  Doppler Radar Maps  Other Maps    CURRENT CONDITIONS AND 10 DAY FORECAST  Houston, TX   Austin, TX  Corpus Christi, TX  Dallas, TX        IN THE SPOTLIGHT - Ski Features  The powder is piling up! Introducing ski  on weather.com...   Want to know what the weather is like on your favorite ski slopes?  Is the surface snow powdery, or is it packed?  Want more information on the resort?     Our newly revamped Ski section on weather.com  features detailed local forecasts for ski areas worldwide with trail maps, web cams, and comprehensive resort details.  It also includes our exclusive Ski Comfort Index, that helps you decide where and when will be best for skiing.  Ski by it!  weather.com/ski     HEALTH  Are you a human barometer?  Changes in the weather have long been associated with joint pain, headaches and other health concerns.  weather.com's new Aches and Pains section can help you be prepared.    [IMAGE]   Aches & Pains Features   Air Quality Reports   Personal Allergy Profile    click to enlarge        SITE LINKS   For more information on additional topics choose from the following links:    Home and Garden  School Day  Weather In Your Calendar
 You  are receiving this e-mail because you requested The Weather Channel  to send newsletters and announcements to you at doug.gilbert-smith@enron.com. If you feel that you have received this message in error, or if  you no longer wish to receive these messages, you can unsubscribe   anytime.  If you have any questions or concerns about how we use your personal  information, please read our privacy  policy .  We welcome all feedback from our members, please  send us your comments  or questions.  Copyright (c) 1995-2001, The Weather Channel Enterprises,  Inc.  [IMAGE]


are you in love?  what is his last name? claven?


Here is Jeanne's final draft.  She changed the format as the Hearing Examiner
ordered a common template to be used.  She is reviewing the transcript over
the weekend to make sure everything is covered. Let us know your comments, we
will be talking to Jeanne Monday morning.  Thanks for all your help!!!


Lee,

FYI.  Enron Methanol has been taking about 5,000 swing each day for August.
So, I added 5,000 for September (#139057 @ GD) in addition to the 34,000 they
nom'd.

D
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 08/25/2000
03:02 PM ---------------------------

Michael Mitcham@ENRON
08/25/2000 02:39 PM
To: David Bush/ECF/Enron@Enron, Mark Diedrich/GPGFIN/Enron@Enron, Paul
Fox/ECF/Enron@Enron, David M Johnson/ECF/Enron@Enron, Robert
Lee/ECF/Enron@Enron, Thomas Meers/GPGFIN/Enron@Enron, Maritta
Mullet/GPGFIN/Enron@Enron, James Prentice/GPGFIN/Enron@Enron, Kerry
Roper/GPGFIN/Enron@Enron, Sally Shuler/GPGFIN/Enron@Enron, Daren J
Farmer/HOU/ECT@ECT, Lee L Papayoti/HOU/ECT@ECT, Steven M Elliott/HOU/ECT@ECT,
John L Nowlan/HOU/ECT@ECT, Anita Luong/HOU/ECT@ECT, Gregg Lenart/HOU/ECT@ECT
cc:
Subject: NATURAL GAS NOMINATION FOR 09/00

Enron Methanol nominates the following natural gas requirements for the
Methanol Plant for September 2000:

34,000 mmbtu per day

EGPFC nominates the following natural gas requirements for the MTBE Plant at
Morgan's Point for September 2000:

9,000 mmbtu per day


Agenda

-California Update

-Items from FERC's November 21st meeting

-Interconnection Filings
  -Consumers Power - Docket No. ER01-318

-Report on NARUC Meetings

-Report on NERC Meetings

-GISB's New Energy Standards Board Strawman Proposal

-December 5th Party for FERC


Start Date: 10/30/01; HourAhead hour: 1;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001103001.txt

Error retrieving HourAhead price data - process continuing...


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 12/23/99 12:42
PM ---------------------------

Faye Ellis@ECT
12/23/99 12:37 PM
To: Ami Chokshi/Corp/Enron@ENRON
cc:

Subject: Re: Counties/Meter Types for GEMC and Midcon TX

FYI...

 The online notification will go back to Stacy, since she submitted the
requests, therefore I am sending you the following:

Gulf Energy Meters:

Meter #  Facility Type Flow Direction Description
19-1043-00 Pool  Both  E. McFaddin
29320  Pool  Both  Tejas Plant
31-504-04 Pool  Both  Trevino Plant
440-552  Pool  Both  Garza Plant
440-557  Pool  Both  Haynes Plant
440-559  Pool  Both  Comitas South
440-565  PDC  Receipt  Jennings 63 Plant

MidCon Texas Meters:

Meter #  Facility Type Flow Direction Description
446  Pool  Both  Jennings Ranch
5553  PDC  Receipt  Greta/ROC
5576  GPO  Receipt  Hall Plant

Faye

	From:  Ami Chokshi @ ENRON                           12/23/99 11:34 AM

To: Faye Ellis/HOU/ECT@ECT
cc:
Subject: Re: Counties/Meter Types for GEMC and Midcon TX

Gulf Energy Counties

All of the Gulf Energy meters are in Zapata County.

Midcon TX

Hall Plant and Jennings are in Zapata County

Greta / Tom O'Connor is in Refugio County


-----Original Message-----
From: Vann, Suzanne
Sent: Wednesday, November 28, 2001 8:52 AM
To: Ward, Kim S (Houston)
Subject: FW: good luck and inspiration--good stuff!

-----Original Message-----
From: MACON_MOLLY_TOOLE@LILLY.COM [mailto:MACON_MOLLY_TOOLE@LILLY.COM]
Sent: Tuesday, November 27, 2001 10:37 AM
To: Vann, Suzanne
Subject: good luck and inspiration--good stuff!

Chinese Good Luck

You may not believe in this but the advice is great!
Read all the way down, you might learn something
THE FOLLOWING IS A CHINESE GOOD LUCK TANTRA TOTEM.

This tantra totem has been sent to you for good luck. It has been sent
around the world ten times so far. You will receive good luck within four
days of relaying this tantra totem.

Send copies to people you think need good luck. Don't send money as fate
has no price.

Do not keep this message. The tantra totem must leave your hands in 96
hours. You will get a very pleasant surprise. This is true, even if you are
not superstitious.

ONE. Give people more than they expect and do it cheerfully.

TWO. Marry a man/woman you love to talk to. As you get older, their
conversational skills will be as important as any other.

THREE. Don't believe all you hear, spend all you have or sleep all you
want.

FOUR. When you say, "I love you," mean it.

FIVE. When you say, "I'm sorry," look the person in the eye.

SIX. Be engaged at least six months before you get married.

SEVEN. Believe in love at first sight.

EIGHT. Never laugh at anyone's dreams. People who don't have dreams don't
have much.

NINE. Love deeply and passionately. You might get hurt but it's the only
way to live life completely.

TEN. In disagreements, fight fairly. Please No name-calling.

ELEVEN. Don't judge people by their relatives.

TWELVE.   Talk slowly but think quickly.

THIRTEEN. When someone asks you a question you don't want to answer, smile
and ask, "Why do you want to know?"

FOURTEEN. Remember that great love and great achievements involve great
risk.

FIFTEEN. Say "bless you" when you hear someone sneeze.

SIXTEEN. When you lose, don't lose the lesson.

SEVENTEEN. Remember the three R's: Respect for self; Respect for others;
Responsibility for all your actions.

EIGHTEEN. Don't let a little dispute injure a great friendship.

NINETEEN. When you realize you've made a mistake, take immediate steps to
correct it.

TWENTY. Smile when picking up the phone. The caller will hear it in your
voice.

TWENTY-ONE. Spend some time alone.

Now, here's the FUN part!  ["FUN"!!?!!]


Start Date: 1/12/02; HourAhead hour: 19;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011219.txt


I need the WSS meter number.  I would like to get that from VNG.  I'm sure we
don't have that set up in our system.


America West Airlines Weekend Surf'n Go
Wednesday, May 23, 2001
Please note that due to Memorial Day weekend return dates have been changed to Tuesday or Wednesday. See Terms and Conditions for details.
This is a post-only mailing. Please do not respond since messages will not be read.
Current Fare Sales
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Save 5% off all travel when booked online. Tickets must be purchased by Thursday, 5/24/01 for travel between Wednesday, 05/30/01 and Friday, 10/26/01.  Visit http://www.americawest.com/specials/sp_faresales.asp  for details.
5% Off to/from Anchorage, AK
Save 5% off roundtrip fares from any America West city to Anchorage, AK.  Tickets must be purchased by Sunday, 5/27/01 for travel between Friday, 6/1/01 and Wednesday, 09/05/01.  Visit http://www.americawest.com/specials/sp_faresales.asp  for details.
Mileage Specials
*************************************************************************************
americawest.com 3,000 Mile Bonus Offer - EXTENDED THROUGH DECEMBER 2001
Earn 3,000 bonus miles for each roundtrip ticket purchased online for travel between 4/1/01 and 12/31/01. Visit  http://www.americawest.com/flightfund/ff_news.htm  for details.
Weekend Surf'n Go
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For travel between Saturday, 5/26/01 and Tuesday, 5/29/01 or Wednesday, 5/30/01. To purchase a Weekend Surf'n Go special fare or make a reservation for Thrifty Car Rental or Hilton/Doubletree weekend specials, go to http://www.americawest.com/specials/sp_emailfares-e.asp
Roundtrip coach fares for travel between:       Car (from)      Hotel (from)

$79     Albuquerque - Phoenix, AZ                       $32     $55
$139    Aspen, CO - Phoenix, AZ                 $32     $55
$69     Burbank, CA - Phoenix, AZ                       $32     $55
$89     Burbank, CA - Tucson, AZ                        $23     N/A
$169    Dallas/Fort Worth, TX - San Francisco, CA       N/A     $69
$69     Las Vegas, NV - Orange/Santa Ana, CA            N/A     $74
$89     Las Vegas, NV - San Francisco, CA               N/A     $69
$229    Los Angeles, CA - Newark, NJ                    N/A     $99
$69     Los Angeles, CA  - Phoenix, AZ                  $32     $55
$229    Newark, NJ - Los Angeles, CA                    N/A     $79
$199    Newark, NJ - Phoenix, AZ                        $32     $55
$69     Orange/Santa Ana, CA - Las Vegas, NV            $20     $125
$69     Orange/Santa Ana, CA - Phoenix, AZ              $32     $55
$89     Orange/Santa Ana, CA - Tucson, AZ               $23     N/A
$79     Phoenix, AZ -  Albuquerque, NM                  $28     N/A
$139    Phoenix, AZ - Aspen, CO                 $27     N/A
$69     Phoenix, AZ - Burbank, CA                       $24     $79
$69     Phoenix, AZ - Los Angeles, CA                   N/A     $79
$199    Phoenix, AZ - Newark, NJ                        N/A     $99
$69     Phoenix, AZ - Orange/Santa Ana, CA              N/A     $74
$199    Phoenix, AZ - Washington, DC (Reagan)   $38     $79
$169    San Francisco, CA - Dallas/Fort Worth, TX       $22     $69
$89     San Francisco, CA - Las Vegas, NV               $20     $125
$89     Tucson, AZ - Burbank, CA                        $24     $79
$89     Tucson, AZ - Orange/Santa Ana, CA               N/A     $74
$199    Washington, DC (Reagan) - Phoenix, AZ   $32     $55
America West Vacations
*************************************************************************************
Book your vacation online http://www.americawestvacations.com
These rates are effective for stay Saturday, May 26 through Tuesday, May 29, 2001 and do not include airfare.
$125/three nights*  - Circus Circus, Las Vegas, NV
Book online or call America West Vacations at 1- 800- 356- 6611 for details.
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Good job on the draft.  My comments are redlined on the attached doc.  Lets
get it on file ASAPPDQ.  Thanks.  DF

	From:  Susan Scott                           04/19/2000 12:02 PM

To: Mary Kay Miller/ET&S/Enron@ENRON, Drew Fossum@ENRON, sstojic@gbmdc.com,
Glen Hass/ET&S/Enron@ENRON, Mary Darveaux/ET&S/Enron@ENRON, John
Buchanan/ET&S/Enron@ENRON, Ramona Betancourt/ET&S/Enron@ENRON
cc:

Subject: new draft of answer (TW negotiated rate filing

Here it is.  Please let me know your comments today.  Thanks.


Kimat, I think either 226553 or 372096 + 227882 should be taken to 0 for
September.  I'm taking deal 226553 to 0 for now.


F.Y.I.

Business World: How California Turned Out the Lights
By Holman W. Jenkins Jr.

08/30/2000
The Wall Street Journal
A27
(Copyright (c) 2000, Dow Jones & Company, Inc.)

Back in the 1970s, National Lampoon proposed a solution for inflation: pay
people less in salaries and wages, and
charge less for things in stores.

Now the state of California has seized upon the identical solution for its
electricity woes. By fiat, it has lowered the
price that utilities are legally allowed to pay for bulk electricity, and
also lowered the price they are allowed to
charge for the same electricity to their end users.

Wow, we wish someone had hit upon this approach before. Rents too expensive?
Make apartment owners put us
up for free. Medical bills a nuisance? Require doctors and hospitals to work
for nothing.

Almost any inconvenience can, in theory, be solved by passing a law
compelling others to do what we want. If any
state is well situated to make this its comprehensive approach to governing,
it's California -- being a state in close
geographical proximity to North Korea.

Because each year the graduate schools release another class of educated
professionals into the readership, we
probably need to emphasize why the National Lampoon solution wouldn't work:
Lowering the price of electricity
creates an incentive for consumers to consume more. At the same time,
lowering the price creates an incentive for
producers to produce less.

Now, for extra credit: Whose idea of a solution is this?

California's politicians, most notably State Sen. Steve Peace, have
calculated, undoubtedly to a pointillistic degree,
that any blame for blackouts will naturally accrue first to the utilities --
because a blackout is an urgent problem
demanding an urgent solution. Meanwhile, higher prices are something
consumers can resent at their leisure, even
unto November, and thus would be more likely to take out on elected
officials.

Electricity makes an interesting challenge for deregulators, one we've been
fumbling heroically. Electricity cannot be
stored, except at ridiculous expense. Ever try to run your house on
batteries?

A second quality is that demand is highly variable, fluctuating by 100% in a
day, and often nearly as much
seasonally (as measured peak to peak). To meet the highest demand, a utility
might easily find itself having to keep
an entire generating facility on hand that it would only fire up a couple
times a year. A peak plant -- the one that
stands between customers and a blackout -- runs only about 200 hours
annually. That's a large capital good that
sits idle 357 days out of 365.

A third quality is that electricity doesn't travel well over long distances,
though technologists are working on this.
But thanks to the efforts of the New Yorker and other publications scaring
people about the unproven health risks of
power lines, try building a new set of lines across anybody's neighborhood
anyway.

These are all reasons why, in the past, it was deemed efficient to produce
and distribute power within one company
over a large geographic area.

"Monopoly" is a bad word when used by a newspaper but not when used by an
economist. It wasn't monopoly that
led utilities to build expensive nuclear plants in the 1970s and 1980s. It
was "cost-plus" rate regulation. In other
words, any utility, as long as it could get a regulator's approval, was
guaranteed to collect its construction costs
and an operating profit on any plant it built.

Is this a good way to encourage the building of expensive power plants,
enough so that there would always be
sufficient power to go around even on peak days? Yes.

Result: To this day we have a system that in no way induces consumers to be
rational in their usage. Looking
around, your columnist right now is running a fan, two computers and umpty
lights, most of which he could turn off
with no impact on his comfort and productivity. In fact, the stereo has been
switched on but turned down to zero
since last Friday. But why get off the couch to shut it off?

The sensitive, new age solution: Reward utilities not for how much they
invest in construction but how efficiently
they meet demand -- which, in the first instance, would mean incentives for
consumers to rationalize their usage.

The rough-and-ready solution: Free utilities to sock their customers with
whatever prices they want, and let
customers fight back by turning off lights or seeking out alternatives (which
exist aplenty if you look hard enough).

But California and other states have opted for a bonehead-with-a-drawing
board solution: They call it deregulation but
the scheme seems to have been designed with the idea that consumers still
shouldn't know how much electricity
costs from one moment to the next.

Utilities were more or less forcibly stripped of their generation role: Now
they would be middlemen, buying power on
the open market. The problems with this approach range from a shortage of
transmission capacity to the greatly
magnified difficulty of preventing grid overloads and other nasty physical
effects when the generating plants and the
grid aren't under the same control.

Even under deregulation, of course, utilities still have an obligation to
meet peak demand. But, effectively, it's farmed
out to the market, and if the power isn't there, it isn't there. And
California has made sure it won't be there in the
future by slamming down price controls.

Maybe it's time we retired the word "market" altogether from the policy
debate, since it's become one of those
conjuring words that justifies everything and has ceased to mean anything. A
modern economy creates or negates
markets as it needs to: The real underpinning is property rights and freedom
of contract. Would we tell GM to stop
making engines and buy them on the open market? No, because we assume that GM
has every incentive to make
the most efficient decision itself. Yet government planners have decided,
based on no evidence, that the age-old
vertical efficiencies in the electricity business simply don't exist.

By whatever route, California's solution is to allow utilities with the skill
and experience to run integrated power
distribution networks to get on with the job -- without either the old
guarantees or the old heavy-handed restrictions
on their freedom to price. Utilities can judge for themselves how much of
their demand to contract out to
independent suppliers.

Undoubtedly there would be a need for residual regulation to protect the most
vulnerable consumers and make sure
universal service is available to all. But that would be far less intrusive
than the "deregulation" they've been
practicing in California -- and that's now unraveling in California,
discrediting the idea of a more market-based
electrical system.

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


John Singer told me these two producers' deals expired 12/31/99.  We will not
need these set up.

Producer   Pipe  Status

Burkland, Richard  CPA  Deal expired 12/31/99 No need to set up

Burkland, WIlliam S  CPA  Deal expired 12/31/99 No need to set up

What is the status on these producers ?  I have invoices and I need to pay
these ASAP, especially Questa (they are calling).

Questa Petroleum  CPA   Deal  213088 set up with meter number per 9911 pay
statement.  Production statement for volumes
      received from John Singer 3/8/00

Phoenix Dominion  CPA/Cipco Deal 142669  Producer invoice available for
information

T & F Operating  PennFuel Invoice in. Deal not set up. Not able to identify
which Penn Fuel (56 or 56W) on CGAS


Whatever the new company is that we set to record profit and losses on.

 -----Original Message-----
From: 	Botello, Mary
Sent:	Monday, October 22, 2001 3:14 PM
To:	Geaccone, Tracy
Subject:	FW: Acquisition Projects

	Tracy,
	Did you want to expense these costs in Eric Gadd's cc?
	Mary

 -----Original Message-----
From: 	Lin, Judy
Sent:	Monday, October 22, 2001 2:22 PM
To:	Botello, Mary
Subject:	FW: Acquisition Projects

fyi

How???  May I move it to c.c.#112458 - Eric Gadd - Asset Development?

 -----Original Message-----
From: 	Geaccone, Tracy
Sent:	Monday, October 22, 2001 1:52 PM
To:	Lin, Judy
Cc:	Ratner, Michael; Lev, Jennifer
Subject:	RE: Acquisition Projects

Should be expensed in the 4th Q

 -----Original Message-----
From: 	Lin, Judy
Sent:	Monday, October 22, 2001 1:46 PM
To:	Geaccone, Tracy
Cc:	Ratner, Michael; Lev, Jennifer
Subject:	Acquisition Projects

I've been requested by Rod and John Goodpasture to set up the following acquisition projects in 2000 under
Co. 0366's book:

Project #                  Project Name            Project-to-Date

C.005532        Reliant Acquistition             $21,173.59
C.005535        LG & E Asset Acquisition       7,128.54
C.005539        Kansas P/L Prohect               7,173.43
C.005542        Hugoton-Bushton                 54,401.40
C.005543        Destin P/L, Sea Robin          13,996.76
C.005544        Phosphate Slurry P/L           24,131.30
--------------------------------------------------------------------------------------
Total                                                      $128,005.02
                                                             ==========

As the projects have been completed, may we allocate the costs ?  to whom ?

Please advise.

Judy 3-7193


I am out of town on business tonight.  I saw you called but thought it is probably too late to reply.  Yes I would like to attend the conference and would love to get together while you are in town.  I will give you a call tomorrow night when I get back to town.  I didn't hear from Ginger this week.  I did talk to Connie the travel broker and she said that she was just holding our visa stuff pending instructions from Chris Ivins.  Suzanne emailed me that Randi Thompson the head of Kidsave is in Kazakstan right now and will be sending out an email to the Kidsave families.  Regards.  Shelley
--------------------------
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