Grid Lock Our energy transport system is horrible. Just the way many
utilities like it.
Forbes, 05/11/01

US Sen. Feinstein Urges Hearings On FERC 'Improprieties'
Dow Jones Energy Service, 05/11/01

U.S. Physical Gas Cash Prices Fall; No Load Weekend
Dow Jones Energy Service, 05/25/01

FOCUS Brazil real to remain pressured due to energy crisis/political concerns
AFX News, 05/25/01

Vice Pres Cheney Sees Wood As New FERC Chairman - NYT
Dow Jones Energy Service, 05/25/01

INDIA: Enron's woes make Indian power firms anxious.
Reuters English News Service, 05/25/01

Enron Unit's Sales, Costs Rise With Power Prices, Paper Says
Bloomberg, 05/25/01

India Enron Panel Lacks Authority to Solve Dispute, Expert Says
Bloomberg, 05/25/01

Companies People Ideas
Grid Lock Our energy transport system is horrible. Just the way many
utilities like it.
BY Daniel Fisher and Lynn Cook

06/11/2001
Forbes
080
Copyright 2001 Forbes Inc.

Our energy transport system is balkanized and horribly inefficient.
Unfortunately, many of the incumbent utilities want to keep it that way.
The Bush energy plan hits hard on increasing production. That alone won't
solve the nation's power crunch. "Supply is not the only issue," says
Michelle Michot Soss, director of the Energy Institute at the University of
Houston. "The issue is bottlenecks."
Some of these bottlenecks are political. A lot of them are created by
incumbent utilities that do not welcome competition.
Florida, for example, whose demand for electricity is growing at about 3.7% a
year, is a net importer of energy. It generates around 24% of its power in
aging oil-fired plants that should be replaced with more efficient
combined-cycle generators. These burn natural gas in a turbine and use the
hot exhaust gases to create steam, which spins a second turbine; they spew
out less particulate and consume about a third less energy.
So why doesn't Florida get efficient power plants? First, the state has only
one main gas pipeline, though others are working their way through the
regulatory process. More vexing is a state law, zealously defended by Florida
utilities, that bans outside competitors from building combined-cycle plants
larger than 75 megawatts--enough to juice 75,000 households--on the dubious
theory that they waste water. Duke Energy tried to challenge the law with a
500-megawatt plant in New Smyrna Beach. FPL Corp. (parent of Florida Power &
Light) fought the plant all the way to the Florida Supreme Court and won.
Florida's screwy power-plant law is just one example of the byzantine
regulations that stymie efforts to make the nation's energy grid more
efficient and prices more competitive. From laws that protect utilities
against more efficient rivals to outdated state regulations that discourage
the construction of transmission lines, these choke points either waste
energy or make it impossible for energy to get where it should go.
A series of state laws in the 1920s laid down the monopolies on grids. They
were codified in the Public Utility Holding Company Act of 1935, a populist
law that identified bigness with badness in the electricity business: To
avoid federal scrutiny and regulation, most utilities decided not to operate
outside their own state boundaries; rate setting fell to the states. But even
as wholesale electricity markets have been deregulated, utilities can still
bat away outsiders by reserving their own transmission lines for "native
load." This allows them to keep an open lane on the energy highway, as it
were, to rush electricity to certain customers when their demand suddenly
spikes.
In such areas as the Southeast, the owner of a transmission line has a pretty
free hand in calculating what its native load is. So Southern Co., which owns
utilities in Georgia and four neighboring states, can determine how much
power to let into its territory.
Southern Co. defends the rule, saying its primary job is ensuring customers
get all the power they need. "The marketers would like to schedule another
10,000 megawatts of power to go across our lines tomorrow," says William
Newman, a senior vice president. "It's not going to happen. The system wasn't
designed for it."
Enron disagrees. Utilization of its natural gas pipeline system increased 50%
in the five years after the gas market was deregulated. Steven Kean, head of
government regulations at the Houston-based giant, thinks similar gains are
possible in electricity if companies like Southern are forced to hand over
control of the grid to independent regional boards that will determine how to
allocate power flows and where to build new lines. The utilities "don't want
to accept the economically pure solution," he says. "Once utilities have been
adequately compensated for their stranded costs, then it's time for them to
shut up, sit in the corner and let the economists and lawyers work out the
details."
Lawyers and economists making decisions for us? That doesn't sound like
deregulation. But there is a case to be made for separating control of power
lines from control of other utility assets. Phillip G. Harris is chief
executive of PJM (it stood for Pennsylvania-Jersey-Maryland), a regional
power line organization. Since this independent system operator was formed in
April 1997 and six local utilities ceded control over transmission lines,
reliability has gone up and prices down, he says. Where Southern Co. will
only add transmission capacity if it has a firm contract in hand, PJM can
order lines to be built. Its member companies are spending $311 million over
the next three years on new lines to increase the flow from power-rich to
energy-poor areas.
Last May temperatures hit the highest levels since 1930 at the same time as
15,000 megawatts of PJM's 59,000 megawatts were out of service for
maintenance. As the peak load rose to 51,000 megawatts--7,000 more than was
available within PJM--power streamed in over a dozen entry points. Prices
topped out at $432 a megawatt hour. That's about four times what you are
probably paying for residential service, but it stands in contrast to spikes
in the thousands of dollars in California and the Midwest during similar
crises.
Unfortunately, what works inside PJM doesn't transfer to Los Angeles, much
less to Manhattan. Different rules regarding electricity transactions and a
shortage of transmission lines make it difficult to export electricity across
the Hudson River. When Hydro-Quebec tried to build a power line across Long
Island Sound in 1999, Connecticut nixed the idea. Ostensible reason: the
possibility of harm to oyster beds. Real reason: Folks in New Haven asked,
what's in it for us--and didn't see any clear benefit to them. There is,
unfortunately, no mechanism for buying off losers in these deals, such as
property owners near, but not under, the power line. So they hire lawyers and
talk solemnly about oysters.
California's bottleneck is on Path 15, a 500,000-volt transmission line that
links the northern and southern halves of the state. Path 15 can't
accommodate the flows of power needed when the weather is cool in San
Francisco and hot in L.A. But the legal and financial chaos in California,
with the state on the verge of taking over much of the transmission system,
discourages investors from backing an increase in capacity. "If we put in
good rules on how to operate transmission systems, you would see investment,"
says Lawrence Makovich, an analyst with Cambridge Energy Research Associates.
"The problem is right now there is no such plan."
Enron is trying to force the Federal Energy Regulatory Commission to take
charge, so far to little avail. In a case pending before the U.S. Supreme
Court, Enron accuses FERC of abdicating its responsibility to do for
interstate trading of electricity what it did for trading of gas.
But forcing FERC down that path will be difficult. Natural gas producers
needed interstate pipelines to get to big markets in the North, which needed
the gas. But incumbent (and politically connected) electric companies have no
such incentive to stimulate a national market in electricity. "There's not a
single incentive in the entire U.S. to relieve congestion," states Jeanine
Hull, president of Strategic Energy Advisors and a former power-company
lawyer. "Ask yourself this question: If you had a chance today to retain your
monopoly or compete, which would you choose?"

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

US Sen. Feinstein Urges Hearings On FERC 'Improprieties'

05/25/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -(Dow Jones)- U.S. Sen. Dianne Feinstein, D-Calif., called Friday
for Senate hearings to investigate "possible improprieties" involving the
Federal Energy Regulatory Commission's relations with the industry it
regulates.
"Despite evidence of manipulation and price gouging in both the electricity
and natural gas markets in California and the West, and a finding by FERC
last November of 'unjust and unreasonable' (electricity) rates, the
commission has failed to take the actions necessary to bring reliability and
stability to the marketplace," Feinstein said in a letter to Sen. Joe
Lieberman, D-Conn., seeking hearings by the Senate Governmental Affairs
Committee.
Feinstein cited a report in The New York Times Friday in which FERC Chairman
Curt Hebert related a phone conversation with Ken Lay, chairman of Enron
Corp. (ENE). Hebert alleged that Lay offered to bring his influence to bear
with the Bush administration to maintain Hebert as chairman if the regulator
would adopt policy positions favored by Enron.
Hebert is quoted as saying he was "offended" by the conversation. Lay
disputed Hebert's account.
The Times article also quoted Vice President Dick Cheney as saying Texas
utility regulator Pat Wood has "got to be the next chairman of the FERC" to
address problems in electricity markets. Cheney's remark is slated for
broadcast by the public television program "Frontline."
"While Mr. Lay's account (of the conversation) differs, it is clear that the
citizens of the United States, especially the people of California, who are
suffering from FERC's failure to do its job, deserve an investigation and
full public hearing into what happened," Feinstein said in the letter to
Lieberman.
"FERC is a $175 million-a-year agency charged with regulating the energy
industry, and it would be unconscionable if any of the nation's electricity
traders or generators were in a position to be able to determine who chairs
or becomes a member of the commission," Feinstein wrote.
"Since FERC has refused to fulfill its legally mandated function under the
Federal Power Act to restore 'just and reasonable' electricity rates, we need
to ask whether undue influence by the companies that FERC regulates has
resulted in its failure to act," the letter said.
Feinstein seeks a broad investigation into FERC, and not just an airing of
the Lay-Hebert exchange, which Feinstein said she sees as an example of "a
definite problem," the senator's spokesman, Howard Gantman, said.
"There are very close relationships between FERC and the industry it
regulates. Some of those relationships could be improper," Gantman said.
Lieberman, who has requested that the General Accounting Office investigate
FERC's response to the California electricity crisis, will become chairman of
the Governmental Affairs Committee when Democrats assume the Senate majority
in about two weeks.
There was no immediate response from Lieberman's office regarding Feinstein's
letter.
-By Bryan Lee, Dow Jones Newswires, 202-862-6647, bryan.lee@dowjones.com

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

U.S. Physical Gas Cash Prices Fall; No Load Weekend

05/25/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- U.S. natural gas physical prices fell Friday ahead of a
no-load holiday weekend, widening considerably the differential to the New
York Mercantile Exchange futures board.
Traders saw storage buying providing the only hint of demand.
Also, several pipelines in Texas, along with El Paso's Tennessee Gas and PG&E
Citygate, held system-wide operational flow orders on the high inventory
resulting from storage. Those orders also sent prices downward, traders said.
Demand remains slight with only hints of sustained hot weather sighted in the
next two weeks,traders said.
With few demand fundamentals in place, traders saw few utilities in the
market.
The Nymex June futures contract settled at $3.973/MMBtu, down 8.1 cents, the
first time the front contract has fallen below $4/MMBtu in nearly 10 months.
Traders pointed to 17,000 option puts at $4/MMBtu supporting the June
contract. Options expired Friday; the June contract expires Tuesday after the
Memorial Day weekend. Traders expect a $3.80-$4/MMBtu range on Tuesday for
expiration.
Also, Enron Online will keep its trading boards open for the holiday.
Prices for the June contract are in the same range as they were a year ago,
when driving heat and competition for gas during May pushed prices upward.
At the benchmark Henry Hub in south Louisiana, prices were in a
$3.76-$3.90/MMBtu range, down 25 cents-35 cents.
Deals at Transcontinental Gas Pipe Line Station No. 65 were done at
$3.82-$3.94/MMBtu, down 25 cents-32 cents.
At the Arizona-California border, El Paso's prices fell $1.40-$2.55/MMBtu to
a $9.80-$11.50 closing range. Western electricity prices weakened again
Friday for the holiday, and traders said pipelines into California were
showing high inventories.
At the PG&E Citygate, prices fell $4.25-$5.50 to a $3.90-$4.40/MMBtu closing
range on the reported operational flow order.
Buyers paid $3.74-$3.90/MMBtu at the Katy hub in East Texas, down 23 cents-32
cents. At Waha in West Texas, buyers paid $3.59-$3.75, down 30 cents-39
cents.
-By John Edmiston, Dow Jones Newswires,713-547-9209;
john.edmiston@dowjones.com

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

FOCUS Brazil real to remain pressured due to energy crisis/political concerns

05/25/2001
AFX News
(c) 2001 by AFP-Extel News Ltd

SAO PAULO (AFX) - The real is likely to remain under pressure in the
short-to-medium term due to concerns about the impact of the energy shortage
crisis on the economy and ongoing political worries, analysts said.
They said the energy shortage problems are scaring away direct foreign
investment, while political concerns ahead of the presidential elections next
year are expected to come much more to the forefront once the Argentine debt
swap operation is completed at the start of next month.
The real was at 2.3480 against the dollar in afternoon trade, down about 20
pct from the end of last year.
Analysts said the weakness of the real combined with a generally-accepted
slowdown in GDP growth as a result of the energy crisis has complicated the
task of the central bank's monetary policy committee Copom.
The Copom raised its base interbank Selic rate to 16.75 pct from 16.25 pct
earlier this week, in what was regarded by many analysts as a preventive move
against the inflationary impact of the real's depreciation.
In a recent report, Banco Santander Central Hispano SA said it has revised
its forecast for Brazil's 2001 GDP growth to 2.2 pct from 4.1 pct previously
due to the possible impact of the government's energy rationing plan.
BSCH said it is also cutting its 2002 GDP growth estimate to 3.0 pct from 4.5
pct previously.
BSCH also revised its forecast for the real's level against the dollar to
2.30 by end-2001 from 2.13.
"Argentina's problems and their effects on the flow of capital to Brazil...
added to energy rationing and stronger perceptions of political risk hinder a
significant appreciation of the real, although we consider a possible gradual
solution to the Argentine crisis," BSCH said.
Analysts said central bank intervention yesterday and today in the foreign
currency market in an effort to stem the real's depreciation is clear
evidence of the central bank's concerns about the local unit.
The central bank today sold 2.0 mln dollar linked-bonds maturing on March 14,
2002 after selling 1.0 mln dollar-linked bonds yesterday.
"We don't know how far the real will go. Everything points to a situation in
which the dollar will move to the 2.45 level against the real in the short
term and never return to the 2.0 level it was at at the start of the year,"
Brazilian Institute of the Economy (IBRE) director Renier Garcma said.
Direct foreign investment has slowed down this year as a result of the
concerns surrounding Brazil.
The government has already revised its estimate of direct foreign investment
in Brazil this year to 19 bln usd from 24 bln previously. Direct foreign
investment in the four months to April was 6.6 bln usd, about half the levels
posted a year earlier.
Enron Corp recently suspend investments of 600 mln usd in the Brazilian
energy sector, citing regulatory concerns, while the government decided to
postpone indefinitely the privatisation of Cia Energetica earlier this month
due to the energy crisis.
The minimum price for the sale of Cesp Parana was set at 1.7 bln reals, with
a number of foreign companies lined up to bid.
"Investors are shying away from carrying out operations in the country. The
energy crisis has had a disastrous impact on Brazil's image; the country risk
has risen and companies are opting for saver markets," IBRE's Garcma said.
Analysts said the energy crisis has strongly affected the image of President
Fernando Henrique Cardoso and has therefore strengthened the opposition's
position ahead of next year's presidential elections.
They said corruption allegations involving former and current senior
officials in the government and the alleged breach of vote secrecy rules at
the Senate resulting in proceedings for the dismissal of former Senate
chairman Antonio Carlos Magalhaes and senator Jose Roberto Arruda have
complicated the political scenario.
Yesterday, Senator Arruda resigned from the Senate, while a local TV news
channel reported Magalhaes will resign next week and attack Cardoso.
"The government seems to have lost direction," one analyst said.
Earlier this month, Congress rejected a petition presented by the left-wing
Workers Party (PT) to set up a joint Congress-Senate commission to
investigate corruption in the private and public sectors after 20
parliamentarians belonging to parties within the ruling coalition withdrew
their support for the motion.
Opposition deputy Aloizio Mercadante at the time said the PT was preparing
legal action against the government and the deputies who withdrew their
support for the petition, alleging they were offered financial incentives to
do so.
Analysts said fears remain that the opposition will attempt to revive the
corruption commission issue, further complicating the governability of the
country in an already delicate moment.
bl/cdo/lbc/as For more information and to contact AFX: www.afxnews.com and
www.afxpress.com

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

Vice Pres Cheney Sees Wood As New FERC Chairman - NYT

05/25/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

WASHINGTON -(Dow Jones)- Vice President Richard Cheney expects Texas Public
Utilities Commission Chairman Pat Wood to become chairman of the Federal
Energy Regulatory Commission, according to Friday's New York Times.
In an interview for an upcoming episode of the PBS series Frontline, Cheney
says, "Pat Wood's got to be the new chairman of the FERC, and he'll have to
address" various problems in electricity markets, according to the Times
article, part of a joint effort with the Frontline program.
The article says current Republican FERC Chairman Curtis Hebert received a
call from Enron Corp. (ENE) Chairman Kenneth Lay this year prodding him to
back a national push for retail electricity competition and faster access to
the power transmission grid in exchange for Enron's support of Hebert in his
new job.
It quotes Hebert as saying, "I was offended."
Lay, one of President George W. Bush's largest campaign contributors,
provided the White House with a list of preferred candidates for FERC posts
and had access to the White House energy policy task force chaired by Cheney,
the article says.
Wednesday the Senate Energy and Natural Resources Committee approved Wood and
Nora Brownwell of the Pennsylvania Public Utilities Commission, Bush's
nominees to fill two empty seats on FERC's five-member board. The full Senate
has yet to approve them.
It would be up to the president whether to replace Hebert as chairman. In the
Times article, Hebert said no one has told him he would be replaced.
-By Campion Walsh, Dow Jones Newswires; 1-202-862-9291;
campion.walsh@dowjones.com

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

INDIA: Enron's woes make Indian power firms anxious.
By Himangshu Watts

05/25/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW DELHI, May 25 (Reuters) - India's private power producers demanded on
Friday that the federal government intervene in Enron Corp's bitter row with
a local utility and state clearly if it wants the U.S. energy giant to stay
in India or quit.
"The government needs to decide whether we want Enron or not. In case they
don't want Enron, they should spell out the reasons for it," Harry Dhaul,
director-general of the Independent Power Producers' Association of India,
told Reuters.
But Federal Power Secretary A.K. Basu said Enron and the Maharashtra State
Electricity Board (MSEB) had to resolve their differences over the $2.9
billion project themselves.
"Basically the Maharashtra government and Dabhol have to sort it out," Basu
told reporters after a meeting with Wade Cline, the chief executive officer
of Enron India.
Basu stuck to the federal government's stand that it would help implement any
proposal emerging from negotiations between the Dabhol Power Co, 65-percent
owned by Enron, and the MSEB.
Dhaul said the fate of Dabhol, India's largest direct foreign investment and
biggest power project, would determine the future of domestic and foreign
private investment in power and other infrastructure projects.
"It is an important issue. It is a benchmark for all future infrastructure
investments of $1 billion plus."
On Thursday, Enron said the MSEB cancelled a disputed power-buying contract
just five days after the Houston-based energy firm moved to pull out of the
project.
WANT PRO-ACTIVE APPROACH
Dhaul said the federal government should intervene in the dispute between
Enron and the utility. "We want a pro-active approach in supporting
independent power producers."
Basu said the government had advised Enron to thrash out the matter with the
negotiation committee set up by the Maharashtra government. The committee is
due to meet on May 29.
Cline refused to answer questions from reporters and only said the company
would not renegotiate the power-buying contract on the basis of a committee
set up by the state government.
"We won't renegotiate on the basis of the Godbole Committee report," he said.
The committee, chaired by a former bureaucrat Madhavrao Godbole, has
suggested that the tariff be re-negotiated to make it cheaper and to remove
the dollar linkage which resulted in a steep increase each time the rupee
fell against the dollar.
Dabhol has come under fire because of the relatively high cost of its power.
Critics object to it charging 7.1 rupees per kilowatt hour versus 1.5 rupees
charged by other suppliers.
Dabhol Power Co is building India's largest power plant with a total capacity
of 2,184 MW.
The first phase of the $2.9-billion project with a capacity of 740 MW began
operating in May 1999. The second phase that will add 1,444 MW of capacity,
is expected to be completed this year.

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

Enron Unit's Sales, Costs Rise With Power Prices, Paper Says
2001-05-25 13:00 (New York)

     Portland, Oregon, May 25 (Bloomberg) -- Enron Corp.'s
Portland General Electric reported first-quarter earnings rose
10 percent as high electricity prices pushed up both sales and
costs for the Oregon power producer, the Oregonian reported.
     The company earned $43 million, the paper said. Revenue from
wholesale power sales was $480 million, three times the year-
earlier period, even as costs to buy electricity almost doubled.
     PGE's power plants produce less than half the electricity
needed to supply its 728,000 Oregon customers, forcing the company
to buy power on the same markets into which it sells, the paper
said. Dry weather is cutting hydropower resources, and easing
wholesale prices could make it more difficult for the company to
profit from power sales outside the state, the paper said.
     Edison International's Southern California Edison, which has
filed for bankruptcy, and two California agencies, one of which is
now defunct, owe the company $128 million, the paper said. The
company is pursuing collection, the paper said, citing Chief
Financial Officer James Piro.

India Enron Panel Lacks Authority to Solve Dispute, Expert Says
2001-05-25 07:16 (New York)

India Enron Panel Lacks Authority to Solve Dispute, Expert Says

     Mumbai, May 25 (Bloomberg) -- Indian negotiators lack the
authority to solve a dispute that has shut down Enron Corp.'s $3
billion power plant, India's single biggest foreign investment,
said a former member of the negotiating committee.
     The negotiators will meet Enron officials on Tuesday next
week, though any proposals made will not be binding on either
Dabhol Power Co., 65 percent owned by Enron, and the Maharashtra
State Electricity Board, the official said. Maharashtra, Dabhol's
sole customer, has refused to pay some of its power bills.
     ``Where is the guarantee Enron and the government will accept
what the committee recommends,'' said R.K. Pachauri, director-
general at the Tata Energy Research Institute, a research
organization. Pachauri said he quit the committee because it was
being asked to renegotiate the project, when it was set up to
solve the payment dispute.
     Maharashtra yesterday served Dabhol notice canceling the
power purchase contract, six days after Dabhol gave the board
notice it was set to pull out of the project in six months.
     The board has refused to pay Dabhol 3 billion rupees for
power supplied in December and January, saying the bills should
reflect a 4 billion rupee penalty it imposed on the company Jan.
28 for failing to supply power at full capacity.

                            Meeting

     Other India officials said the two parties can't afford not
to negotiate as there is too much at stake.
     Mahrashtra and Dabhol serving each other notices is ``simply
legal maneuvering,'' said Kirit Parikh, an economist on the prime
minister's economic advisory council.
     ``It won't affect the process of finding a solution because
``the ground reality is neither Enron nor Maharashtra can afford
not to find a compromise'' to the dispute, Parikh said.
     The government needs a solution as it could be left footing
the bill.
     India's federal and state governments, which have guaranteed
the board's payments for power and some of the loans to help fund
the project, may have to pay Dabhol more than 170 billion rupees
($3.6 billion) if it terminates the 2,184 megawatt power project.
     ``We are going back to Maharashtra tomorrow to work on the
problem.'' Dabhol managing director Wade Cline said. Cline was in
New Delhi to meet A. K. Basu, secretary to the ministry of power.


Rick, its that time of year again, do your magic and approve the attached
expense report

And thanx again for the Topock consideration, I do appreciate it.....


Start Date: 1/1/02; HourAhead hour: 8;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010108.txt
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.
!!!General SQL error.
Couldn't update; currently locked.
Table
!!!A user transaction is already in progress.
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---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTstSW
  MKT_TYPE: 2
  TRANS_DATE: 1/1/02
  TIE_POINT: PVERDE_5_NG-PLV
  INTERCHG_ID: EPMI_CISO_SW
  ENGY_TYPE: FIRM
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTstSW
  MKT_TYPE: 2
  TRANS_DATE: 1/1/02
  TIE_POINT: MEAD_2_WALC
  INTERCHG_ID: ENRJ_CISO_8001
  ENGY_TYPE: FIRM

---- Load Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  LOAD_ID: SDG1
  MKT_TYPE: 2
  TRANS_DATE: 1/1/02
  SC_ID: ENRJ


>  -----Original Message-----
> From:  Ricky Archer
> Sent: Wednesday, February 09, 2000 9:19 AM
> To: 'rlloyd@enron.com'
> Cc: 'Dfarmer@enron.com'; 'jyoung@enron.com'
> Subject: Calpine Daily Gas Nomination
>
>  <<CALPINE DAILY GAS NOMINATION 1.doc>>

 - CALPINE DAILY GAS NOMINATION 1.doc


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Rod - can you tell me who the current proposed reference entity is and how it
is related to the Duke companies that are parties to the confidentiality
agreements listed below?  I need to know who the parents are and who the
subsidiaries are and, if it is a subsidiary if it is a material sub of the
reference entity.

Thanks,

Mark
---------------------- Forwarded by Mark Taylor/HOU/ECT on 03/03/2000 04:39
PM ---------------------------

Edmund Cooper
03/03/2000 01:43 PM
To: Mark Taylor/HOU/ECT@ECT
cc:
Subject: confidentiality query

Mark, herewith the list I referred to in my last email.  I've looked to see
if there are any CAs with a Duke entity with an Enron European entity and
there are none.

We ought to come up with a streamlined procedure for approving new reference
entities (rather than having it attacked contemporaneously on all sides by
several departments).

Thanks, Edmund

---------------------- Forwarded by Edmund Cooper/LON/ECT on 03/03/2000 07:41
PM ---------------------------

Mary J Heinitz
03/03/2000 07:39 PM
To: Michael Slade/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT
cc: Kay Young/HOU/ECT@ECT, Ed B Hearn III/HOU/ECT@ECT

Subject: confidentiality query

Regarding your phone request for a conflicts check with respect to Duke
Energy or affiliates, I find the following executed agreements:

Duke Energy Field Services, Inc. with Houston Pipe Line Company  - regarding
HPL's Three Rivers plant, effective until 01/27/01
Duke Energy Field Services, Inc. with ECT - regarding proposed expension of
Dauphin Island Gathering Systemor other of Duke's related pipelines to serve
ECT's gas markets effective until 01/14/00
Duke Energy North America with ECT - transaction involving Duke's supply of
long term power and capacity to ECT to support  ECT's wholesale supply
obligation within NEPOOL effective until 07/27/00
Duke Energy North America with ENA - possible Duke acquisition of ENA's
interests in a natural gas-fired generation facility being developed at the
Port of Morow, Oregon effective until 11/18/01
Duke energy Power Services L.L.C. with ECT - regarding natural gas-fired
electric power generation facilities under development by ECT in Illinois,
Indiana, Kentucky, Mississippi and Tennessee effective until 04/06/00
Duke Power Company with Enron Power Marketing, Inc. - regarding provision of
central control area, scheduling or other services to ECT or affiliates by
Duke in the state of Georgia.


Start Date: 4/26/01; HourAhead hour: 13;  HourAhead schedule download failed.
Manual intervention required.


Hey,

What's going on?  I've had a fabulous day...at least it hasn't been boring.
Anything interesting in your world?

It's the first night and I already want to skip my GMAT class.  I may come
visit you before I go to my class.  I don't want to hang around down here
until 6.   That is if you aren't too busy today.

Talk to ya later,
Robin


To All:

After speaking to Bill, we are giving approval to this second transaction
between JM Huber and ENA with the condition that the assignment of transport
capacity is taken on by JM for BOTH transactions as previously discussed, and
I initial this contract which clearly states this assignment of capacity.  It
was our assumption, in Credit, that this initial transaction with JM was to
include the assignment of capacity, which lead to a re-evaluation of the
credit reserve.  It is imperative now, that once the contract and
transactions are executed, they be re-confirmed in TAGG to more accurately
reflect the exposure of JM

Russell


------------------------------------------------------------------------------
------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

April 27, 2001 5:00pm through April 30, 2001 12:00am
------------------------------------------------------------------------------
------------------------

SCHEDULED SYSTEM OUTAGES:

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages

ENRON NORTH AMERICAN LANS:  No Scheduled Outages.

FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

MESSAGING: No Scheduled Outages.

MARKET DATA: No Scheduled Outages.

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS:
Impact:  EBS
Time:  Fri 4/27/2001 at  8:00:00 PM CT thru Fri 4/27/2001 at  9:00:00 PM CT
 Fri 4/27/2001 at  6:00:00 PM PT thru Fri 4/27/2001 at  7:00:00 PM PT
 Sat 4/28/2001 at  2:00:00 AM London thru Sat 4/28/2001 at  3:00:00 AM
Outage:  OSSPROD Server Move - Portland to Houston (EBS)
Environments Impacted:  All
Purpose: ECOMS is the EBS order management system. It is a mission ciritical
app, and the server is being moved to Houston.
Oracle does not function in a NAT environment, so network changes must be
made to accomodate the move.
Backout: Put original ACL back in place
Contact(s):  Dennis McGough    713-345-3143

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:
Impact:  CORP
Time:  Fri 4/27/2001 at  8:00:00 PM CT thru Sat 4/28/2001 at  12:00:00 AM CT
 Fri 4/27/2001 at  6:00:00 PM PT thru Fri 4/27/2001 at  10:00:00 PM PT
 Sat 4/28/2001 at  2:00:00 AM London thru Sat 4/28/2001 at  6:00:00 AM London
Outage:  Unify Server Name Changes
Environments Impacted:  Unify Development
Purpose: Full complinace with naming standard.
Backout: A full backup of the servers and Emergency Repair disk will be done
prior to the name change.
Contact(s):  Charles Ballmer    713-853-0684
  Darryl Vinson        713-345-8726

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

        FOR ASSISTANCE

(713) 853-1411   Enron Resolution Center

Specific Help:
Information Risk Management   (713) 853-5536
SAP/ISC
        (713) 345-4727
Unify On-Call      (713) 284-3757  [Pager]
Sitara On-Call     (713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS   (713) 639-9726  [Pager]
OSS/UA4/TARP    (713) 285-3165  [Pager]
CPR      (713) 284-4175  [Pager]
EDI Support      (713) 327-3893  [Pager]
EES Help Desk     (713)853-9797 OR (888)853-9797


thanks for the note!  we're doing fine and trying to get some sleep here and
there...i'll e-mail pic's to you...take care.

fletch


It is amazing and yet not surprising how much Enron has accomplished in the
first six months of this year. You continue to make it happen.  We recognize
that you work hard every day to accomplish Enron,s business goals, and we are
pleased that many of you have shared in the company,s financial success
through Enron stock options.

As you may know, the current employee stock option program (also known as the
All Employee Stock Option Program or AESOP) began in 1994 and provided value
to participants through 2000.  Employees who have participated in this
program from its inception have realized a 1,119% increase in the value of
their stock options (assuming a stock price of $70) over the life of the
program.

Enron stock options are a valuable part of your total compensation package
and a contributing factor to your performance and to Enron,s continued
success.  Therefore, the Enron Executive Committee and the Compensation and
Management Development Committee of the Enron Board of Directors have decided
to continue to offer stock options as a part of your compensation package.

On May 1, 2000, the Committee approved an employee stock option program for
calendar years 2001 - 2005 (EnronOptions ) Your Stock Option Program).  It is
expected that EnronOptions ) Your Stock Option Program will be granted,
effective on or about December 29, 2000, for those employees who are eligible
on that date (please see note below).  The new program, which is subject to
final approval by Enron,s Board of Directors, is as follows:

? EnronOptions ) Your Stock Option Program will give stock options to
eligible full-time and part-time regular employees in domestic and
international companies/locations.
? The grant of non-qualified stock options will equal 25% of annual base
salary (5% of annual base salary for each year of a 5-year period) on
December 29, 2000. (Salary calculation and value may vary in some
international locations.)
? The Board will grant the stock options on December 29, 2000.
? Eligible employees hired in subsequent years will receive a prorated grant
of stock options.

Why commit your talent and energy to Enron?  EnronOptions ) Your Stock Option
Program, among other good reasons( that,s why.

In the coming weeks, you will be receiving more details about EnronOptions )
Your Stock Option Program.  To provide information and answer your questions,
we will introduce a special link on the Human Resources web-site, host
several eSpeak sessions and continue to communicate with you on a regular
basis.  In the meantime, if you have immediate questions, please contact your
Human Resources representative.

Note: In addition to final approval by Enron,s Board of Directors, granting
of options will be subject to New York Stock Exchange and state and federal
regulatory requirements.  It is expected that EnronOptions ) Your Stock
Option Program will be available to most Enron employees; however, some Enron
companies, employees may not be eligible due to legal, accounting, tax, labor
or business issues.  As you know, Enron changes to meet the needs of the
marketplaces we serve.  Given that need to change, we will continue to refine
the eligibility for EnronOptions ) Your Stock Option Program and will
communicate more details throughout the year with final eligibility being
determined on December 29, 2000.


Attached is a cumulative list of the name overlays since the final report for
November went out on 11/22/00.  The additions include 4 Enron entities that
made name changes as follows:

Enron Midstream Services, L.L.C.             to          Crestone Gathering
Services, L.L.C.
ECT Powder River, L.L.C.                            to          Crestone
Powder River, L.L.C.
ECT Wind River, L.L.C.                                 to          Crestone
Wind river, L.L.C.
NBP Energy Pipelines, L.L.C.                     to          Crestone Energy
Ventures, L.L.C.

These new names have just been overlayed in the system.

The ERMS short names will be changed for all the records, tomorrow, Wed.,
11/29/00, in the afternoon, if there are no objections.

Thanks,

Cheryl x3-3103


Ashley, here's an ad in Word format.  If Deron could post it at Hewitt, I
would be most grateful!


Steve, I hope that I did not educate her too well . . . It was great to see
you, and be sure to let me know if you can use my help in the future.
Michelle

"Stephen D. Statham" <sstatham@texasbar.com> on 10/12/2000 09:04:38 AM
To: mcash@enron.com
cc:
Subject:

Michelle -

It was grand to bump in to you last night at Randalls.  Your son looks like a
bundle of energy.  Your cookie insights were not lost on my daughter.
She has secured my commitment to visit the bakery area first thing on our
next trip. I'd say she considers it a good encounter.

Take care
Steve


The report named: NG - PROPT P/L <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=11&report_name=NG+-+PROPT+P/L&category_cd=5&category_name=FINANCIAL&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=11/28/2001>, published as of 11/28/2001 is now available for viewing on the website.


Just wanted to see if these LC's were absolutely necessary at this time.  We just got another request today for two more LC's.  The total of all four LC's is now $11.98MM and all cash requests are now going through Bill Bradford to see which gets paid.

Is there any update on your negotiations with Standard Chartered?

Thanks,

JR

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Monday, November 26, 2001 3:48 PM
To:	Mata, Jessie; Howard, Kevin A.
Cc:	Richardson, James
Subject:	RE: New L/C Req

What would you like me to do?

 -----Original Message-----
From: 	Mata, Jessie
Sent:	Monday, November 26, 2001 3:37 PM
To:	Howard, Kevin A.; Hayslett, Rod
Cc:	Richardson, James
Subject:	FW: New L/C Req

James Richardson asked me to forward to you.  We are not sure Standard Charter can do these.  We also have around 20 amendment requests from EOTT on date extensions past the 12/31/01 drop dead date.

Please advise.

Thanks,
Jessie

 -----Original Message-----
From: 	Chen, Peter
Sent:	Monday, November 26, 2001 3:17 PM
To:	Maria J Mata/Corp/Enron@ENRON
Subject:	New L/C Req

					 << File: New LC Request Matador.doc >>

Peter Chen
Credit Specialist
EOTT Energy Corp.
(713) 993-5223 - ph
(713) 402-2887 - fx


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/27/2000
11:32 AM ---------------------------

"Stephen stock" <stephen.stock@enron.com> on 11/26/2000 02:31:16 AM
To: vkamins@enron.com
cc:
Subject: 40th Birthday Party

[IMAGE]
?

You're invited to:
40th Birthday Party

Hosted by:
Stephen stock

To view the full invitation, click here!

[IMAGE]

*** NOTE *** : If you receive this using Lotus Notes mail, then check that MS
Internet Explorer is launched when you select a web link otherwise this
doesn't work too well.  Click on "office" at the bottom right of Notes,
select "Edit Current" and check that the Internet Browser is set to Microsoft
Internet Explorer

Use Evite to host your next get-together. It's easy, fun and 100% free

??????	 HAVING TROUBLE?

	If the "To view the full invitation, click here!" link above didn't take you
to your Invite, try double-clicking the link below (or copy and paste it into
your web browser's location bar and hit 'Enter'):
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		??????
[IMAGE]

[IMAGE]


Attached find the second draft of our answer to CMUA's complaint for
cost-based rates in California.  Please send me any comments ASAP as this
must be sent to FERC at 4:00 p.m. eastern time tomorrow.


Hilary Cox
8351 E. Co. Rd. 200 N
Indianapolis, IN 46234
crumpet@indy.net

To Mr. Ken Lay,

I'm writing to urge you to donate some of the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate some of this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Hilary Cox


Start Date: 10/22/01; HourAhead hour: 14;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001102214.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/22/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: CISO_EPMI_APS
  ENGY_TYPE: NFRM
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/22/01
  TIE_POINT: MALIN_5_RNDMTN
  INTERCHG_ID: EPMI_CISO_DUCKS
  ENGY_TYPE: FIRM


Group,

I have discussed our lack of handsets with Dave Steiner.  Dave perceives an appetite for handsets in the real-time group, however, we should be getting new handsets (two for each turret) early next week.  These handsets will be labeled Real-Time, this should prevent others from switching out our handsets.  If one of these handsets stops working (cuts out or mute doesn't work) please let me know. Dave Steiner will be providing these handsets without charging us, but if a heightened handset consumption continues, we will have to pay for them.  Dave suggested that we make sure to hang up the handsets, as they tend to get damaged quickly on the ground (apparently it stresses the connections and leads to them cutting out). I feel this goes without saying but maybe...

Thanks for your help with this.

Bill


Have you gotten with Chris Holmes, re: the voice mail I sent you end of last
week?

Thanks.  Jeff

John L Nowlan
10/03/2000 07:44 AM
To: Jeffrey A Shankman/HOU/ECT@ECT, Mike McConnell/HOU/ECT@ECT
cc:
Subject: Potential Nsea deals thru Chris Harris team

FYI, these are the type deals we as a trading group really like as they give
us some physical volumes so we can get into that market as well as a
financial transaction to make some money. Both sides should be a winner for
us.  We have worked with Chris on 2 others of these and they have failed due
to the variuos reasons but primarily the way the uk tax authorities look at
the structures. I will keep you posted on the progress.
---------------------- Forwarded by John L Nowlan/HOU/ECT on 10/03/2000 07:38
AM ---------------------------

Chris Glaas
09/28/2000 03:42 AM
To: Chris Mahoney/LON/ECT@ECT, John L Nowlan/HOU/ECT@ECT, John Buckner
Thomas/LON/ECT@ECT, Mark Jones/LON/ECT@ECT, Michel Decnop/LON/ECT@ECT
cc:
Subject: Potential Nsea deals thru Chris Harris team

F.Y.I.
We are helping Chris Harris here in London putting a structure together that
can give us crude oil in the Nsea.

The idea is that we will buy the crude oil from a North Sea producer to a
fixed price. The duration could be for the next 4-6 years depending on how
comfy we are with the exposure. By buying future oil to a fixed price at
lower numbers than the future curve would suggest and paying upfront (due to
time value of money), the producer will end up paying less tax.
This has been tried many times before by different banks and never worked.
This time Chris Harris thinks that by presenting the correct package it might
pass.  We will see.

However, in case of  success, we will have to do two things.
1. sell futures for the next 4-6 yrs, volume could be 25-50' bpd.
2. sell the physical bbls.

Number 2 is no problem and depending on the volume I think number 1 should be
OK. We might have to hedge thru WTI, but will try Brent.

Question: with a deal like this do we need any signatures from above? Chris
Harris will be happy to run a full presentation if required.

regards
chris glaas


This morning it was discovered that a portion of John Arnold's Gas Daily
position was being captured incorrectly as a February fixed price position
instead of a February Index position.  I am currently working on  the problem
and the positions will be captured correctly tonight.  John is aware of the
situation and has stated that V@R does not need to be re-run.

Thanks,

Errol L. McLaughlin


Zimin,

Some feedback I have received on Ming.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/22/2000
01:17 PM ---------------------------

Pinnamaneni Krishnarao
05/22/2000 12:35 PM
To: Dennis Benevides/HOU/EES@EES
cc: Vince J Kaminski/HOU/ECT@ECT, Ronnie Chahal/HOU/EES@EES
Subject: Re: Ming Sit

Dennis:
 I talked to Ming for only short time and am concerned about the cons  Scott
mentioned. I would like to know what your assessment is like. Also, I would
like Vince, Ronnie & myself to talk to Ming over the phone. Can we call him
directly and talk to him? Please let me know how strongly you feel about
having him as a support person.

Thanks,
Krishna.
x35485

To: Pinnamaneni Krishnarao/HOU/ECT@ECT
cc:
Subject: Re: Ming Sit

Krisna:

Are you still interested in hiring Ming Sit, through the research group.  If
so, please proceed and assign him to support EES.  Please let me know if I
need to provide any information.

Thanks
Dennis
---------------------- Forwarded by Dennis Benevides/HOU/EES on 05/22/2000
09:43 AM ---------------------------

James W Lewis
05/21/2000 11:44 AM
To: Dennis Benevides/HOU/EES@EES
cc: Scott Stoness/HOU/EES@EES
Subject: Re: Ming Sit

I like DB's suggestion.  Let's do it.

	Enron Energy Services

	From:  Dennis Benevides                           05/19/2000 03:31 PM
	Phone No: 713 853-9609

To: Scott Stoness/HOU/EES@EES
cc: James W Lewis/HOU/EES@EES
Subject: Re: Ming Sit

Got a little scared at your first sentence I read "He is no replacement for
Jay but he could be for Dennis B .."??.

Anyway:

I think he would be a good fit withing the group.  Krisna has offered to hire
him in the research group, he has good programing background and is excited
about working for Enron instead of a Utility such as PacificCorp.  He
expressed interest in applying his skill to make $$$$.

I suggest bringing him in in research as a first alternative.  I see three
potential applications where we can use his skills to evaluate best longer
term fit:
Continuing Ronnie's model building role, but with a focus within Neil's group
to tie RM systems together
Bridge the lack of Phd Econometrics expertise we have as are result of the
departure of Anoush.
Risk Management Systems Infrastructure development.

Scott Stoness
05/19/2000 02:02 PM
To: James W Lewis/HOU/EES@EES
cc: Dennis Benevides/HOU/EES@EES
Subject: Ming Sit

He is no replacement for Jay but he could be a Dennis B employee.

Pros:
Engineer so would be good at math
His boss hired him a 2nd time (1at TXU and again at Pacificor again) so he
must be reliable
Phd in Economics and Engineering (good) from Stanford (ugh :) :) :) )

Cons:
Does not understand Tariffs.  I asked him and he said he is not experienced.
I probed too and he does not understand regulatory that well.
Does not understand Ancillary Services (which is surprising to me since he
started out as an plant operation side of HK Power)
Has limited people management skills (he described 1 analyst he works with
that is not capable that he has to jump into the excel spreadsheet and fix it
for him and he cannot give him feedback because it is a utility mentality)
He is not a good communicator (I asked him to describe what he did in HK
Power and it took him forever to explain because he expected me to know that
plant operations meant planning the start up of oil plants).

Overall:
I suspect that he is a very solid guy when it comes to analysis but not
particularly creative or good at communication and leadership.  He would be a
great support person.
I would hire for analysis but not as a potential leader.Go


Per our long, rambling voice mail.
----- Forwarded by Stacy E Dickson/HOU/ECT on 04/03/2001 01:04 PM -----

 -----Original Message-----
From:  Laura Falk <lfalk@NUI.com>@ENRON
[mailto:IMCEANOTES-Laura+20Falk+20+3Clfalk+40NUI+2Ecom+3E+40ENRON@ENRON.com]
Sent: Monday, April 02, 2001 7:28 AM
To: Rohauer, Tanya
Subject: FW: Portion of Short term credit agreement

 - 00.DOC


The California AG and PUC have petitioned FERC to vacate its order approving
PG&E's recent reorganization.  Obviously by this reorganization, PG&E is
attempting to shield its assets in the event of a bankruptcy.  I'm wondering
if we should become active in this case, to protect our interests in the
event of a bankruptcy.


Brad,

Can you change my address in your system (and with fund companies) to my mom
and dad's address. I haven't heard from this nurse yet and I am leaving next
week. Please be sure to let me know if any of that Clarica transfer doesn't
go smoothly.

Thanx,

Chris


ILA: Initiating Coverage of a Pure-Play Energy Merchant

* We initiate coverage of Aquila, Inc. with a 1H (Buy, High Risk)
rating and a 12-month price target of $44.
* Aquila is a pure-play Energy Merchant, leveraging their strong
trading and risk management skills in the rapidly growing energy commodity
markets.  Aquila was an early mover into these deregulating markets, and has
shown strong traction over recent years, which we believe is sustainable
long-term.
* We project a 20-25% growth rate for ILA driven by our robust outlook
for wholesale energy and the potential for successful expansion into new
commodities and geographies.
* At a 2002 0.7x P/E-to-growth (PEG) ratio, ILA is trading at a
significant discount to their Energy Merchant peer average of 1.0x. Based on
its strong track record and potential for industry-leading earnings growth,
we place a PEG value on ILA of 1.0x 2002 earnings, leading to our $44 price
target.

 <<ILA launch note5-18-01.pdf>>  <<ILA launch note5-18-01.doc>>

Raymond C. Niles
Power/Natural Gas Research
Salomon Smith Barney
(212) 816-2807
ray.niles@ssmb.com

s

 - ILA launch note5-18-01.pdf
 - ILA launch note5-18-01.doc


Thanks.  BTW, the pager jab was aimed at you....:)

	Karen Denne 07/10/2001 04:52 PM 	  To: Jeff Dasovich/NA/Enron@Enron  cc:   Subject: Re: Dunne Letter

You poor thing.  What you really meant to say was GET OFF MY BACK PEOPLE!!!!!!!!!! I CAN'T WRITE WHEN YOU'RE ALL HOUNDING ME "WHERE IS IT? WHERE IS IT?"   am I close? :-) kd

From:	Jeff Dasovich on 07/10/2001 04:51 PM
Sent by:	Jeff Dasovich
To:	Richard Shapiro/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, James D Steffes/NA/Enron@Enron, mpalmer@enron.com, Karen Denne/Corp/Enron@ENRON, Richard B Sanders/Enron@EnronXGate, Scott Govenar <sgovenar@govadv.com>
cc:

Subject:	Dunne Letter

Folks.  I'm working on it, but it's going to require quite a bit of work.  Please chk your emails later this evening for the next draft.  I'll page folks--those with pagers, that is--to notify when I've emailed it.  Scott, please inform Hedy and Bev.

Best,
Jeff

<Embedded StdOleLink>


Enclosed below is an FIA memo (forwarded to me by Sidley & Austin) on the
Commodity Futures Modernization Act of 2000, which Congress adopted Friday
and is awaiting the President's signature.  I think it provides a good
general discussion of  a very complex piece of legislation.

Robert E. Bruce
Senior Counsel
Enron North America Corp.
T (713) 345-7780
F (713) 646-3393
robert.bruce@enron.com
----- Forwarded by Robert Bruce/NA/Enron on 12/20/2000 03:29 PM -----

	"Hunt, Lawrence" <lhunt@Sidley.com>
	Sent by: "Milazzo, Michelle" <mmilazzo@Sidley.com>
	12/20/2000 12:34 PM

		 To: "'Bruce, Robert'" <robert.bruce@enron.com>
		 cc:
		 Subject:

 <<HR5660Foleymemo12-19.doc>>

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

This e-mail is sent by a law firm and may contain information that is
privileged or confidential.  If you are not the intended recipient, please
delete the e-mail and any attachments and notify us immediately.


My column for this week. A graph will follow.
The source of the graph is Barron's, March 27, 2000, MW10.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/27/2000
07:47 AM ---------------------------

VKaminski@aol.com on 03/26/2000 10:20:53 PM
To: vkamins@enron.com
cc:
Subject: Article

 - Treasuries.doc


Nuclear 7-day Forecast for our valued Customer

Greetings,

Please find the attached 7-Day forecast Nuclear status report. If you have any questions please email to outages@industrialinfo.com.

Thanks,

Industrial Information Resources, Inc.

The information contained in this e-mail message is legally privileged and confidential information intended only for the use of the individual or entity named above.  You are hereby notified that any dissemination, distribution or copy of this e-mail to unauthorized entities is strictly prohibited.  If you have received this e-mail in error, please immediately notify us by telephone at 800762-3361 and delete the original message.  We apologize for any inconvenience and appreciate your cooperation. Sales: Paul Copello x3430.

[This report was generated from IIR's GenQuest] http://www.iirenergy.com/wspmgenquest.htm

 - NucPDF.pdf


-----Original Message-----
From: 	Wallis, Janet H.
Sent:	Thursday, May 24, 2001 2:52 PM
To:	Lamphier, Gary
Subject:

I received a fax from CP&L for June 2001.  They nominated 20K a day


Neither ENA/RAC/EGF employees nor family members or others living in their
household or financially dependent on the ENA/RAC/EGF employee may purchase
or sell securities of any entity (or derivatives thereof) listed on the
Restricted List for your or their personal or related accounts or recommend
the purchase or sale of such securities to any person, except with the prior
approval of the Compliance Department in consultation with the ENA Legal
Department.

In addition to the trading restrictions above, should you at any time possess
non-public material information about any public company, you, your family
members and anybody that is financially dependent on you, are restricted from
trading in that issue, and you may not disclose the non-public material
information to anyone that does not have a business need to know.

Company Name Stock Symbol

3 TEC Energy Corp.       TTEN
Adrian Resources ADRRF
Beau Canada Exploration Ltd BAU CN
Belco Oil & Gas Corporation BOG
Bonus Resource Services Corp BOU
Brigham Exploration BEXP
CanFibre Group Ltd. CFGL
Carrizo Oil & Gas Inc. CRZO
Costilla Energy COSE
Crown Energy CROE
CyNet, Inc. CYNE
Cypress Energy CYZ
Esenjay Exploration ESNJ
FirstWorld Communications Inc. FWIS
Hanover Compressor Co. HC
ICE Drilling Enterprises Inc. IDF
Industrial Holdings, Inc. IHII
Inland Resources, Inc. INLN
Kafus Environmental Industries, Inc. KS
Nakornthai Strip Mill Public Co Ltd NSM SET
Paladin Resources PLC PLR LD
Paradigm Geophysical PGEOF
Place Resources, Inc. PLG CN
Quanta Services Inc. PWR
Queen Sand Resources, Inc. QSRI
Quicksilver Resources Inc. KWK
Saxon Petroleum, Inc. SXN CN
Southwest Royalties SWROY
Startech SEH CN
Syntroleum Corp. SYNM
Tejon Ranch Corp. TRC
Tetonka Drilling TDI
Titan Exploration TEXP
TransCoastal Marine Services, Inc. TCMS

The Restricted List is solely for the internal use of ENA/RAC/EGF.  No one
may engage in discussions regarding whether a security is or is not on the
Restricted List with persons outside ENA/RAC/EGF without specific clearance
from the Compliance Department in consultation with the ENA Legal Department.

In addition to the above, you are reminded that pursuant to Enron Corp.'s
Risk Management Policy ("Policy"), no ENA/RAC/EGF employee may engage in the
trading of any "Position"  ("Position" means any  commodity, financial
instrument, security, equity, financial asset or liability that are
authorized for trading in
the

Policy for the benefit of any party other than ENA/RAC/EGF, whether for
his/her own account or the account of any third party, where such Position
relates to (i) any commodity,  financial instrument, security, equity,
financial asset or liability which falls within such employee's
responsibility at ENA/RAC/EGF or (ii) any energy commodity.

The prohibitions listed above do not replace or modify the policies set forth
in ENA's Policies and Procedures Regarding Confidential Information and
Securities Trading, Enron Corp.'s Risk Management Policy, or Enron Corp.'s
Conduct of Business Affairs.  Should you have any questions regarding the
above, please contact me at ext. 31939.


Awais,

I think the weather description you are referring to was sent by an attorney
in our group, Shari Stack.  If that is the one you are talking about, it
should be okay.   I don't know the regulatory guys, but I'll try calling
Steve Kean and see if I get a response.


Joe,

Attached is the Cash Payment Request to refund El Paso Energy Marketing for the misdirected funds they sent to HPL/Enron instead of HPL/AEP in November 2001.  Let me know if you need further assistance.

 -----Original Message-----
From: 	Dhont, Margaret
Sent:	Tuesday, February 05, 2002 9:26 AM
To:	Denetsosie, Troy
Subject:	FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline

Hi Troy

It is a Bank of America account.
However, the final resting place is not co 1648 account 12855818 but it was since moved to company 364 account # 3000018982 which is an AEP/Hpl account.

Thanks
Margaret

 -----Original Message-----
From: 	Dhont, Margaret
Sent:	Monday, February 04, 2002 1:50 PM
To:	Denetsosie, Troy
Subject:	FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline

The counterparty that paid us was El Paso Energy Marketing
$154,240.00 was received on November 26, 2001
It is sitting in co 1648 account 12855818
The cash was received into bank ABA # 111000012 account 3750494141 company 1648

There you go, Troy

 -----Original Message-----
From: 	Baxter, Bryce
Sent:	Monday, February 04, 2002 9:46 AM
To:	Dhont, Margaret
Cc:	Denetsosie, Troy
Subject:	FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline

Troy Denetsosie needs the following info to work up a wire:

Legal name of the counterparty that paid us
Exact amount/date of payment
What account this is sitting in now (I guess where we want the wire coded)
Was the cash paid to a DIP or non-DIP account

Thanks.
 -----Original Message-----
From: 	Coffey Jr., Jim
Sent:	Monday, February 04, 2002 9:19 AM
To:	Denetsosie, Troy
Cc:	Parks, Joe; Baxter, Bryce; Eubanks Jr., David W.
Subject:	FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline

Troy

Please work up a Payment Reqest form to refund El Paso.  Get the wording for the economic justification from Joe Parks and work with Bryce Baxter and David Eubanks to generate a wire.  Then forward to Chip Schneider and Lindsay Long to get it on the 5 day list.

Thanks!
Jim

 -----Original Message-----
From: 	Cherry, Paul
Sent:	Monday, February 04, 2002 9:12 AM
To:	Coffey Jr., Jim
Subject:	FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline

Per your voice mail.

 -----Original Message-----
From: 	Cherry, Paul
Sent:	Thursday, January 31, 2002 2:45 PM
To:	Coffey, James
Subject:	FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline

Per my voice mail.

Regards.

 -----Original Message-----
From: 	Cherry, Paul
Sent:	Tuesday, January 29, 2002 8:34 AM
To:	Hayslett, Rod; Porter, J. Gregory
Subject:	FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline

Rod,

Greg has requested that I forward the details of a misdirected wire that El Paso had sent to HPL in error and were unable to retrieve. Greg has attempted on several occasions to contact Lisa Mellencamp in regard to the situation without success. He indicated that if we forwarded the details to your attention you may provide some assistance.

Thanks and Regards.

 -----Original Message-----
From: 	Cherry, Paul
Sent:	Monday, December 17, 2001 3:48 PM
To:	Porter, J. Gregory; Neubauer, Dave; Miller, Kent
Cc:	Howard, Kevin A.; Pryor, Tony
Subject:	El Paso Misdirected Wire $ 154,240 to Houston Pipeline

	I have located where El Paso in error sent a wire transfer of $ 154,240 to Houston Pipeline ( based upon my understanding a non bankrupt entity ) instead of AEP on November 26. I spoke to Bryce Baxter, Manager of Settlements as to what could be done to get El Paso their funds. He stated that as a result of the Bankruptcy, Bank of America where the wire transfer was sent, seized the account and has frozen those funds. Bryce also stated that they did not intend to return the funds since they were originally for AEP and AEP owned $ 25M on November 26 and and another $ 45M on December 26. He stated these were the instructions from Lisa Mellencamp in their Legal group. Any thoughts or direction on where to go next?

	Thanks.


fuck you

y6qa@msn.com on 04/15/2001 07:41:11 AM
Please respond to annamaedicastro2195@witty.com
To: bib28@msn.com
cc:
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Good Evening:

Attached is a copy of my attempt to reflect our discussions today.  In
reviewing the discussion notes, it appears that we're expanding, rather
than limiting, the number of unresolved points.

Perhaps we'll all feel more inclined toward agreement tomorrow.

Evie

 - Draft Issues Outline 061801 (Redline 061401).doc


Louise,

Thanks so much for your speedy reply. I will pass your comments on to Dave Walker in Media Relations.

I included Kevin because he is listed with you, Greg and John on a "management" slide. If there are others who should be
included on Greg's core management team for the announcement, please let me know who they are and their titles. Please
also let me know if it is inappropriate to include Kevin. If there is an org chart, that might be helpful, too. It would
allow us to be as inclusive as possible without making the announcement too long.

Thanks again,

Claudia
212-713-8508

-----Original Message-----
From: Louise.Kitchen@enron.com [mailto:Louise.Kitchen@enron.com]
Sent: Tuesday, February 05, 2002 11:16 PM
To: Robinson, Claudia; Petrie, James [UBS]; Eber, Louis [UBS]; Brady,
Penny [UBS]; Keily, Ruth [UBS]; Mitchell, Nikki [UBS];
David.Forster@enron.com; Lloyd, Andrew-D [UBS]; Hollis, Amanda [UBS];
ODonnell, Pat [UBS]; Dow, Colette [UBS]; louise@enron.com;
Kal.Shah@enron.com; David.Oxley@enron.com; Martin, Audrey [UBS]
Cc: Bridges, Mark [UBS]
Subject: RE: Releases

Just a couple of suggested changes to both.

There is a lot of confusion in the energy market as to the ownership
structure of the entity.  Enron had previously announced that the entiy
would be 51% New Owner and 49% Enron.  We need to ensure this message is
corrected as clearly as possible - that it is 100% UBS owner.

(See attached file: UBSW Energy release draft.doc)
On the release for UBSWenergy.com - we do intend to trade physical gas and
power immediately initially at least in the areas we can, so I have removed
that sentence.
(See attached file: UBSenergycomreleasedraft.doc)
Do you need all of the commercial  MD titles or is Kevin picked out for a
particular reason?

Thanks

Louise

    -----Original Message-----
   From:   "Robinson, Claudia" <claudia.robinson@ubsw.com>@ENRON
   Sent:   Tuesday, February 05, 2002 7:45 PM
   To:     Petrie, James [UBS]; Eber, Louis [UBS]; Brady, Penny [UBS];
             Keily, Ruth [UBS]; Mitchell, Nikki [UBS]; Forster, David;
             Lloyd, Andrew-D [UBS]; Hollis, Amanda [UBS]; ODonnell, Pat
             [UBS]; Dow, Colette [UBS]; 'louise@enron.com'; Shah, Kal;
             Oxley, David; Martin, Audrey [UBS]
   Cc:     Bridges, Mark [UBS]
   Subject:  FW: Releases

   Attached for your review are drafts of two news releases, one announcing
   the closing of the UBS Warburg / Energy
   transaction and the other to announce the launch of UBSWenergy.com. The
   plan is to issue the closing announcement on
   Friday (2/8) at about 8 a.m. New York time. The other is planned for
   when the website officially launches, which is
   expected on Monday (2/11).

   Please forward your comments directly to David P. Walker, head of Media
   Relations-Americas, sometime on Wednesday.

   Tomorrow, I will send you drafts of the internal announcements for
   Friday and Monday. The plan is to issue on Friday a
   global UBS Warburg email announcement from John Costas, announcing the
   new management. I need from Human Resources
   confirmed titles for Louise Kitchen, John Lavorato and Kevin Presto. In
   addition, we plan for Friday an email from Greg
   Whalley to employees who have signed on with UBS Warburg Energy, with
   Costas's announcement attached. (Both will also be
   posted on UBS Warburg intranets, including the integration site.) There
   will also be internal publicity on the day the
   website launches: another email from Whalley to Energy employees and
   intranet articles within UBS Warburg, including the
   integration site.

   Please let me know if you have questions.

   Thanks,

   Claudia
   212-713-8508

   >   <<UBSenergycomreleasedraft.doc>>  <<UBSW Energy release draft.doc>>

    - UBSenergycomreleasedraft.doc << File: UBSenergycomreleasedraft.doc >>
    - UBSW Energy release draft.doc << File: UBSW Energy release draft.doc
   >>

   Visit our website at http://www.ubswarburg.com

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E-mail transmission cannot be guaranteed to be secure or error-free
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verification is required please request a hard-copy version.  This
message is provided for informational purposes and should not be
construed as a solicitation or offer to buy or sell any securities or
related financial instruments.


We expect to have a change order executed by ABB on Monday (Tuesday at the
latest) whereby we agree to pay all but the retainage amount, and they
acknowledge that we can assign it to WHOEVER, including the agent (right?).

Ben and I discussed the fact that the Coral turbines will be moved into
TurboPark.  I believe we will want to assign the turbines to an Enron LLC the
following week. FYI, we have a conference call tomorrow to finish the binding
agreement to see them the turbines.  If it would work to keep them in WestLB,
that's great. However, I want to do whatever creates the least amount of
stress for you two.  I'll manage Coral and Ben.  Please advise.

Ciao,

Kay

PS.  Just in case you don't know, your efforts are very appreciated.  Not
just by me!

---------------------- Forwarded by Kay Mann/Corp/Enron on 12/09/2000 03:46
PM ---------------------------

Ben F Jacoby@ECT
12/08/2000 07:03 PM
Sent by: Ben Jacoby@ECT
To: Kay Mann/Corp/Enron@Enron, Rebecca Walker/NA/Enron@Enron
cc:

Subject: Answers to ABB Questions

I spoke to Mike Sandridge. Rebecca, please contact JY Davis at ABB St. Louis
to answer Kay's questions regarding equipment status and the factory address.
Dennis Bowman will sign the change order in Sandridge's and Frank's absence.
His number is 314-679-4512. Mike will provide him, Frank, and Dave Onuscheck
a heads up.

Ciao,

Ben


Comments from Rod.  Paul see note below.

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Monday, July 30, 2001 8:44 AM
To:	Geaccone, Tracy
Subject:	RE: Trans Pecos

You might want to send these to Kim

Some brief comments:

1.b)  Term:   Finance would greatly prefer a right to extend for a period of at least 10 years to be exercised at least 2 years prior to the expiration date.   This would allow for time to find a replacement shipper before the expiration date.   In no case should we agree to an annual evergreen as this is optionality without any cost to them.
2.      Conduct of Open season/Contract Quantity Reduction:   Need to establish an "Initial Recourse Rate" prior to the open season in order for their proposed mechanism to work.  Without it there is no way to measure the "proportionate reduction" requested.

We need to get Paul Cherry working on the credit of MGI Supply ASAP.

 -----Original Message-----
From: 	Watson, Kimberly
Sent:	Wednesday, July 18, 2001 6:49 PM
To:	Harris, Steven; Huber, Lee; Fossum, Drew; Hayslett, Rod; McCarty, Danny; Kilmer III, Robert; Lokey, Teb; Martin, Jerry D.
Subject:	Trans Pecos

For your information, attached is the redlined version of the LOI from Pemex.  I have been discussing these comments with Dave Matney at Kinder Morgan.  I have also discussed these comments with Pemex and they do intend on giving us feedback on the rate we offered within the next week.  It is Pemex's intention to move forward with this LOI with an agreed upon rate (even though it currently says "To Be determined") prior to execution.  I will keep you posted as we get more information.  If you have any comments regarding any of these issues, please feel free to contact me, otherwise, please look forward to review our next draft prior to us sending it back to Pemex.

Thanks,
Kim (X33098)

 << File: TransPecosPEMEX comments 07-17-01.doc >>


The dept. conf. call scheduled for Friday, March 23 at 10:30am (CST) has been
cancelled.

gngr
713-853-7751


Enron Principal Investments (EPI), which was formed in the 2nd quarter, has completed its integration and the development of its new strategy.  This group will be responsible for identifying, closing, managing and exiting all non-E&P equity investments for Enron worldwide.  Kevin Garland will lead EPI, which includes Barbara Paige, Andrew Marsden, Kevin Kuykendall, Steven Sheldon, Michele Nezi Marvin and Mark Gandy.  Additionally, Dick Lydecker and the Special Asset Group will continue to report to Kevin.

EPI will pursue investments related to Enron's core businesses, where Enron has a unique insight into the market, company or technology.  Initially, this will be geographically focused in North America and Europe.  This group will rely heavily on the support and cooperation of the core business units to provide information and market insight.

EPI may make investments in the form of venture capital, leverage buyouts, growth equity, or private equity in public companies.  The group will not make investments in seed stage companies, other funds, subsidiaries of larger corporations, or project equity.

Please join me in supporting the efforts of Enron Principal Investments.


Dear Investor,

Thanks to "Siggy," this tech Blue Chip ROSE 29% in
2001. And it's taking new territory so aggressively
that Oracle's Larry Ellison is tearing his hair out.

29% GAINS! That's an amazing number when you consider
two points:

1. This isn't some small-fry bucking the trend because
of some lucky break.

2. It's one of the BIG BOYS of technology, having a
good year when virtually every other big boy from
Cisco to Oracle to Intel has suffered badly.

CAN YOU IMAGINE how well this stock will do when the
economy and sentiment turns!  Siggy is HOT.  And it's
going to make us a ton of money in the months and
years ahead--say, 50% in 6 months and a small fortune
after that.

But what is this "Siggy thing," you might ask.  It's a
transistor, SiGe (nicknamed Siggy) more than 100-times
faster than Intel's screaming Pentium 4--made by the
same company that first discovered that silicon
germanium could soup up chip performance.  This
technology is new--introduced for the first time in
1999.  But it's taking the entire industry by storm.

Worldwide sales were a few million dollars in 1999,
but projections make this at least a $2 billion
product in less than 5 years!  Here's the short story.

First you plop a 200-atom thick layer of silicon
germanium on an old garden-variety silicon chip.  Then
you redesign the vertical bipolar transistor for
increased efficiency.  And bingo, you're the proud
parent of the world's fastest silicon transistor.

HOW FAST IS IT?  It turns on and off over 200 billion
times a second!  Running Siggy against a Pentium is
like running a Ducati 996R superbike against a Vespa
scooter!   What does this speed mean?  Here's one
example.  Souped-up silicon chips delivering mega
amounts of data to homes is a wireless dream about to
come true.  There's no need to run expensive cables.
The LAST-MILE barrier to broadband is hurdled without
wires!

But there's a LOT MORE to Siggy's story than just
that.  Nothing--and I mean nothing--up to now has come
close to Siggy's performance and versatility.  As I've
already said, it's blazing fast--a critical factor in
high-speed communications.  Yet it draws incredibly
little power at the same time--a boon that is finally
making the next generation of wireless technologies
possible.  What's more, this chip creates
exceptionally little background "noise," making it
ideal for applications that depend on high
sensitivity.

So how is this technology being used--and who's using
it?

Siggy's MOST IMPORTANT application is in all facets of
high-speed communications.  If you knew what you were
looking for, you'd find this chip in Internet
appliances, cell phones, storage modules, base
stations, broadband networks, wireless on-site
networks and more.  Virtually everywhere that HIGH-
SPEED communications makes its mark.  Both analog and
digital, as well.  Time Domain Corp.--#1 globally in
Ultra Wideband wireless technology uses Siggy to power
its performance and profits.  Companies like Vitesse
and  Sierra Monolithics find Siggy a crucial component
in the high-end equipment that makes fiber optic
communications possible.  Alcatel is big on Siggy for
being key to affordable high-performance networks.

The list goes on and on.  It seems that barely a day
goes by that Siggy's corporate parent doesn't announce
new accolades--and big new contracts--for its
offspring.

THAT'S PRETTY NEAT when you consider this company's
background.  As I mentioned earlier, it's huge and
incredibly profitable.  In fact, right now this firm
has Larry Ellison tearing his hair out, as it
overtakes Oracle on its own database turf.

But up until a few years ago, this company didn't even
make chips for "outside consumption."  Of course, when
you've got hot technologies--and Siggy is just one of
many--why not take advantage.

Today, this firm does about $3 billion in annual chip
sales--and we're not talking those run-of-the-mill
chips that everyone from California to Taiwan knows
how to make.  This outfit specializes in custom-built,
high-end models like Siggy, where they have a
technological edge--and FAT profit margins.

WANT TO LEARN MORE?  Want the name of Siggy's parent?.
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Then try my INTELLIGENCE REPORT advisory RISK-FREE.
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------------------------------------------------------

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WHICH ONE?

 Continental 1612
Aircraft: 733 Sat - Jun 9, 2001
Monterrey (MTY-Gen Mariano Escobedo)7:55 AM
Houston, TX (IAH-Bush Intercontinental) 9:34 AM

Continental 1614
Aircraft: 735 Sat - Jun 9, 2001
Monterrey (MTY-Gen Mariano Escobedo) 11:45 AM
Houston, TX (IAH-Bush Intercontinental) 1:10 PM

Continental 4156
Aircraft: ERJ Sat - Jun 9, 2001
Monterrey (MTY-Gen Mariano Escobedo) 3:10 PM
Houston, TX (IAH-Bush Intercontinental) 4:40 PM


Phil,

Both dates (Mon and Wed) are taken. What about drinks on Wednesday (around
5:30)?

Vince

07/07/2000 05:17 PM
Phil Sisneros@ENRON COMMUNICATIONS
Phil Sisneros@ENRON COMMUNICATIONS
Phil Sisneros@ENRON COMMUNICATIONS
07/07/2000 05:17 PM
07/07/2000 05:17 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject:

I'm in town most of next week--let's do lunch Mon or Wed??


Your new cash books are being set up ASAP.  They tell me they will be ready no later than tomorrow.
Once those are set-up, Stephanie Sever will email you your new EOL id's.

Kam


Hello Team,

I will be in class all day today.  Please leave me voicemail if you need anything.

Ayesha


Jeff and I are preparing the California and Texas comparison today, but I
wanted to get you some back ground information on Texas  The Section
documents are draft protocols for the ERCOT ISO and are not final rules but
offer a clear direction in market developments.


Hi Chip,

Have you seen anything from Hancock re Delta?  I haven't.

Thanks,

Kay


http://www.napanews.com/nv/INVWineries.nsf/
http://www.winecountry.com/


Here is some additional information since the circus closed down in Sacramento on Saturday morning.

The Senate adjourned early Saturday morning, closing out both the regular session and the second extraordinary session.
The Assembly adjourned a few hours later, closing the regular session, but NOT the second extraordinary session.

The Legislature's options:
1) The Governor calls them back in two weeks, they continue with the second extraordinary session, and pick up where they left off with the bills they were working on up till Saturday morning.
2) The Governor calls them back in two weeks, the Assembly ends the second extraordinary session, they begin a third extraordinary session, and the bills that were left hanging on Saturday morning must start the process from scratch.  However, they can pass a "waiver," which effectively would allow them to start a 3rd session AND then pick up where they left off on Saturday morning.
3) The Governor calls them back in two weeks and the Legislature meets briefly and shuts down without doing anything, i.e., the Govenor can call them back, but he can't make them vote.

In short, the Legislature has a significant amount of discretion to do what they please.

Where to from here?
Through its actions on Saturday morning, the Senate has sent a strong signal to Davis that the Senate is not inclined to vote out an Edison bailout that differs from the version it passed prior to leaving for summer recess last July.
Just before closing down on Saturday, the Senate also passed a resolution declaring that "...the condition of electric service in California no longer consitutes a 'sudden and severe energy shortage'" and "...that the state of emergency proclaimed by the Governor on January 17, 2001, is at and end."  The resolution seems to send an additional signal that the Senate does not see any great need to bail out Edison.  The Assembly did not pass the resolution, however.
Given the Senate's view, and the open hositility between Davis and Burton, Davis' only remaining option seems to be to threaten the Senate with vetoes unless the Senate first passes the Davis' Edison bill.  It is unclear at this time whether Davis would play it that tough.
With the Legislature gone, the action turns to the PUC, where a vote on DA suspension is scheduled for Thursday.  We are working with customers and providers to stop DA from being suspended, or at a minimum, to ensure that any suspension date is not retroactive.
Finally, Burton held a news conference this morning at which he said:
Burton and Senator Bowen (Bowen's been taking the lead on DA in the Senate) will ask the California PUC to do a study on how DA can be retained without "adversely affecting homeowners and small businesses."
He doesn't know why "the Governor would waste taxpayers' money to hold a special session."
With all the troubled businesses in California right now, he doesn't know why the State would bail Edison out and not the others.

If all this sounds ridiculous, it is.

We'll report back with additional information as we get it.

Best,
Jeff


April annuities.

I've entered the following annuities for Willamette's April's business.

#622256 for Services in the amount of $112,391.72

#622259 for Real Time in the amount of $168,587.58

Let me know when this is posted.

Les


Thank you very much Sir. I'll incorporate you comments later today and send
it off.

Thanks also for your other comments, I'm glad you regard the book highly
enough for your group and your course.

I look forward to catching up with you soon.

Best regards.

Chris.

----- Original Message -----
From: <Vince.J.Kaminski@enron.com>
To: Chris Strickland <chris@lacima.co.uk>
Cc: <Vince.J.Kaminski@enron.com>
Sent: Wednesday, December 13, 2000 10:41 AM
Subject: Re: Fw: EPRM Article

>
> Chris,
>
> I have read the paper.  It reads very well. Two comments.
>
> 1. It probably makes sense to include a note on the standard GBM
simulation
> equation and
> the way it's typically discretized.
>
> 2. It will help the reader who did not read the earlier articles to
explain
> what CT is (perhaps a footnote).
>
>
> I am also including a message I sent to Julie today.
>
>
****************************************************************************
*****************
>  1. I would like to register 2 members of my group for both courses (in
> Houston):
>
> a. Paulo Issler
> b. Alex Huang
>
> I shall attend the course on weather only.
>
> 2. I have started the process to issue a check for 5,000 AUD for Lacima.
> Shirley sent you an update on this. The 2nd installment comes from the
> budget of our
> office in Australia. I shall talk to Paul Quilkey today about it. Please,
> let me know if there is any delay.
>
> 3. The book  will be used as textbook for the class I shall be teaching at
> Rice.
> Rice Univ bookshop is placing an order.
>
> 4. I would like to order 50 copies for my group. What is the best
> way to place the order?  Can we pay in US dollars?
>
****************************************************************************
*****************
>
> Best regards.
>
> Vince
>
>
>
>
> "Chris Strickland" <chris@lacima.co.uk> on 12/12/2000 05:21:22 PM
>
> Please respond to "Chris Strickland" <chris@lacima.co.uk>
>
> To:   <Vince.J.Kaminski@enron.com>
> cc:   "Julie" <julie@lacimagroup.com>
> Subject:  Fw: EPRM Article
>
>
> Hi Vince,
>
> I'm wondering if you got this last week? If you could have a quick look
and
> get back to me with any comments that would be great - Robin is chasing me
> on this one!
>
> Best regards.
>
> Chris.
>
>
> ----- Original Message -----
> From: Chris Strickland <chris@lacima.co.uk>
> To: <VKaminski@aol.com>
> Sent: Wednesday, December 06, 2000 4:16 AM
> Subject: EPRM Article
>
>
> > Hi Vince,
> >
> > Hope things are fine with you. I'm sorry that I only ever write to you
> when
> > I'm after something, but could you look at this simulation article - the
> > next installment in the EPRM articles.
> >
> > Many thanks and best regards.
> >
> > Chris.
> >
> >
> >
> > ----- Original Message -----
> > From: <VKaminski@aol.com>
> > To: <Vince.J.Kaminski@enron.com>; <Les@lacima.co.uk>;
> <chris@lacima.co.uk>;
> > <robin@risk.co.uk>
> > Sent: Friday, September 08, 2000 4:23 AM
> > Subject: Re: VaR Article
> >
> >
> > > Les,
> > >
> > > The revised version  of the VaR article looks fine.
> > >
> > > Vince
> > >
> >
>
> (See attached file: EPRM_04_sim_mr.zip)
>
>
>
>
>


Don't ever be sorry for venting to me.  I feel privileged that you trust me
that much as a friend and god knows I've cried to you a hundred times about
stuff.  You are so right about the fact that you had a way better
relationship with your Dad then most guys do.  I mean, look at my brother
and my Dad - Jesse doesn't even call him Dad.  Why in the world would your
Mom and Angela freak out on you for having human feelings?  I don't get it.
And besides all that, you were the one who used to help me and basically
write all that stuff for me so "YOU CAN DO IT!!"
Tootie is doing good.  She went in on Monday to find out if the tumor was
operable and found out that it is buried so deep in her brain that if they
even attempted to operate on it, it would probably paralyze her whole left
side.  So she goes in on Tuesday to Emanuel hospital for this high voltage
radiation treatment that's supposed to zap the shit out of the tumor.  Then
they'll check it in four months to see if it's shrunk.  If not, I guess they
will continue with the regular radiation treatments.  I talked to her on
Tuesday and she seems in really good spirits.  I'm looking forward to seeing
her on Thanksgiving.  What are you doing for Thanksgiving?  Are you going
home?
What are you doing for the Civil War game??  If you're not going to
Corvallis, do you want to watch it together somewhere?? I hope you don't
have to work this weekend.  We should have dinner too - Beaches!!!  I've
been craving their stuffed mushrooms and I haven't been there since the last
time you and I went.  Write me back....

Katie Trullinger
Wilshire Credit Corporation (REO Dpt.)
800-776-0100 x7804
katie.trullinger@wfsg.com