Yes we do want to renew the option through September of next year and we will
need to persuade them to lower the option premium.  Her is a thought:  the
land fill closure cost is approximately $2.9 million.  Could we create a new
option agreement that states that the strike price is $4.2 million ($1.3 the
original strike price plus the cost of land fill closure cost) so we could
pay an option premium of up to $210,000 (5% of $4.2 million).  At closing, we
reduce the purchase price by the costs yet to be incurred in the closing the
land fill.  Since Certosa Holdings will not start the closure until they are
assured that we will exercise the option if even then, the net cost to us
would drop back to  the original strike price.  Could we get this past the
accountants?

Only the memorandum of option was recorded.

 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, May 23, 2001 4:40 PM
To: Krause, Greg
Cc: Carnahan, Kathleen
Subject: RE: AEW's backup

I've skimmed it.  I see that the option expires August 9th.  Are we planning
to renew it?  If so maybe we can renew early and fix what we can to preserve
some optionality (no pun intended) and cover the fee issue.  Might take too
long to address the immediate issue.

I don't see anyway we can get around the balance sheet issue unless we let
the option expire and then reoption, but in that case the option payment
would have to be smaller (acct says an option of 5% creates a problem as it
would be considered a down payment).  Just fyi.

Kathleen, was the option recorded, or just a memo of option, or neither?  I'm
just wondering what is public info.

Herman is out of the office today, but I can discuss the fee issue to get his
vote.

More to come...

ckm

From: Greg Krause/ENRON@enronXgate on 05/23/2001 02:19 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: AEW's backup

I think the invoice was for between $20,000 and $30,000, but I can't
remember.  AEW has the invoice.  This probably will not be the final as we
will need to work with them in discussions with DERM on delaying the landfill
closure and in moving jurisdiction of the project from CZAB to the County
Commissioners.   I think Shutts & Bowen (who may get stiffed by their client
if this deal blows up) and Certosa Holdings would be open to any suggestions
and we need to renegotiate the option anyway.  Shall I call and suggest this
this flat fee for retooling the option agreement to them or shall we do it
together?  I,m not sure I could explain to them acequately the idiosyncrasies
of our accounting requirements.

 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, May 23, 2001 2:00 PM
To: Krause, Greg
Subject: RE: AEW's backup

How much is it and should this be the final amount?  One thought I have is
that maybe we can retool the option agreement so that we pay them a flat fee,
which is enough to cover the expenditures.  Don't know if this works, but it
is one thought.  What do you think?

Kay

From: Greg Krause/ENRON@enronXgate on 05/23/2001 01:50 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: AEW's backup

One more thing on the SDEC project:  According to the option agreement we
executed last October, we agreed to reimburse Certosa Holdings for actual
third party costs that they incurred in support of our necessary
applications, submittals and in seeking local approval.  Several weeks ago,
we recieved an invoice from Shutts & Bowen, attorney for Certosa Holdings
requesting reimbursement pursuant to the contract.  I forwarded this invoice
on th Ann Elizabeth not necessarily to pay for but to review considering this
whole soft cost hard cost discussion.  I recieved another call this morning
from Shutts & Bowen asking about the invoice.  What should I do?
 -----Original Message-----
From:  Mann, Kay
Sent: Wednesday, May 23, 2001 11:03 AM
To: Krause, Greg
Subject: RE: AEW's backup

Greg,

You can call me on whatever you have, including Midway, SDEC and Medley
Dunn.  If I have a problem getting to something, I'll find help.

Kay

From: Greg Krause/ENRON@enronXgate on 05/23/2001 10:50 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: AEW's backup

Kay,

Ann Elizabeth did not provide a designated hitter for the South Dade Energy
Center (Dade Development Company LLC is Optionee, Certosa Holdings is
Optionor) nor did she provide one for tne Medley Dunn project.  I have been
told that the Dunns are considering backing off their ultimatums that they
gave Ann Elizabeth and I regarding taxes to the town and assumption of
enviromental liability.  Who do I talk to about the Dunn contract while Ann
Elizabeth is out?
 -----Original Message-----
From:  White, Ann Elizabeth
Sent: Tuesday, May 22, 2001 10:33 PM
To: gkrause@enron.com; Krimsky, Steven; Ben Jacoby/HOU/ECT@ENRON; Carnahan,
Kathleen
Cc: Milligan, Taffy
Subject: AEW's backup

Kay Mann is the designated hitter for the Pompano and Deerfied projects while
I'm on vacation.  I've given her a down load of the status of Greg and
Steve's projects.  Chris Boehler at A&K will be the designated hitter for
Midway.  I'm not going to check my voice mail while I'm gone but, if
necessary, here are the contact numbers while I'm gone.

Walter and Marlena Schilling  011-49-8218-89351 schilling.jun@freenet.de

Monika and Bernhard Steinacher 011-49-8232-8932 m.steinacher@schwabmuenchen.de

If you call, Walter and Bernhard and Bernhard's daughter, Susanne, speak very
good English.  Monika's isn't bad.  Marlena may get flustered and hang up on
you.

Best of luck at Deerfield and hope to see Pompano on track when I get back in
the office on June 11th.  Kay is planning on going to Florida on June 12 for
the moratorium hearing and the rezoning hearing.


ok.  I'm booked all week but next week I can do it.

Jim

 -----Original Message-----
From: 	Yoho, Lisa
Sent:	Monday, October 22, 2001 9:12 AM
To:	Steffes, James D.
Subject:

Jim:  We should schedule a time to go to lunch between now and November 12th.  - Lisa


We will keep the 10 am meeting on Tuesday, April 24, EB 38C2 (legal and
credit only).
We will also schedule a meeting at 3 pm (same day after legal/credit regular
meeting) with Fred, Caroline, Russell Dyk and Robyn Zivic.  Fred could not
meet in the morning and he is an integral part of the process we are trying
to develop for hedge funds.  I apologize if all of the lawyers cannot meet at
3 pm but at least one lawyer in attendance should keep us on track.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


I looked thru the attached 10K for NSTAR and could find no "NSTAR Companies"
entity listed there.  Maybe you'll have better luck, or are smarter and will
find it (since I failed so miserably on you know what today!).


This looks fine to me.  Is this the way our confirmations read for telephone
trades?  If not, do we need to make this change there also?

Mark

Dale Neuner on 12/23/99 10:37:58 AM
To: Mark Taylor/HOU/ECT@ECT
cc: David Forster/LON/ECT@ECT
Subject: Change to Index language for Financial Liquids

Please aprove the folowing and I will make the required changes.

Dale

---------------------- Forwarded by Dale Neuner/HOU/ECT on 12/23/99 10:34 AM
---------------------------

David Forster
12/23/99 10:06 AM
To: Dale Neuner/HOU/ECT@ECT
cc: Niamh Clarke/LON/ECT@ECT, Duncan Needham/LON/ECT@ECT, Rudy
Dautel/HOU/ECT@ECT
Subject:

Dale,

I have discussed the wording with Rudy and agree that we could change the
wording in the Index long description for Gasoline, #2 and WTI as follows:

Old:

The Index for a month shall be the arithmetic average of the daily
settlement
prices for the prompt month NYMEX West Texas Intermediate Light, Sweet, Crude
Oil
futures contract for each NYMEX trading day of such month.

New:

The Index for a Determination Period shall be the arithmetic average of the
daily
settlement prices for the promptmonth NYMEX West Texas Intermediate Light,
Sweet,
Crude Oil futures contract for each NYMEX trading day of such Determination
Period.

Please run these changes past legal before proceeding. When your changes are
complete, please run the final version past Rudy as well. Please note that
all
Products which reference these Indexes will need the secret squirrel
treatment for
updating.

Niamh/Duncan: Please advise if you are happy for the above change to be
applied
to your products as well.

Thanks,

Dave


Here's the latest version.  It looks ok to me.  The most substantive aspect
of it is that Calumet Power (or its affiliate) could end up the indemnity
obligations under the agreement.  (in other words, an entity without a lot of
money to fund indemnity obligations)  In my opinion this isn't important in
the context of the option.

Unless someone objects, I'll tell PERC that Enron is ready to go with the
assignment.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/08/2000 02:02
PM ---------------------------

cindy_wasik@chicago.kirkland.com on 06/08/2000 01:59:02 PM
To: vhedge@winston.com, J.nassos@pecorp.com, j.burns@pecorp.com,
dtauke@winston.com, Kay.mann@enron.com
cc:

Subject: Option Agreement

Attached please find revised blacklined versions of the Assignment of Option
Agreement and Notice of Exercise of Option, incorporating changes from various
parties.

Please contact me with any questions regarding the enclosed.

Greg Spitzer
312-861-2115

(See attached file: EXERCISE OPTION-RED2.WPD)(See attached file: ASSIGNMENT OF
OPTION-RED2.WPD)

******************************************************************************
The information contained in this communication is confidential, may
be attorney-client privileged, may constitute inside information, and is
intended only for the use of the addressee.  It is the property of
Kirkland & Ellis.  Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited and may be
unlawful.  If you have received this communication in error, please
notify us immediately by return e-mail or by e-mail to
postmaster@kirkland.com, and destroy this communication and all
copies thereof, including all attachments.
******************************************************************************

 - EXERCISE OPTION-RED2.WPD
 - ASSIGNMENT OF OPTION-RED2.WPD


NG-PR-OPT 1084746
Larry May - 1084727 1084728 1084729

Thanks,

Errol, X5-8274


Attached are two of TradersNews Energy's three new hourly indexes, for  the
ComEd and TVA hubs. We will send you these new hourly indexes at no charge
until March 19, when we formally launch them on our Web site, at
www.tradersnewsenergy.com.
?
If you'd like to receive our ERCOT hourly index or have questions or
feedback about that region, e-mail Suzanna Strangmeier, at
suzanna.strangmeier@ipgdirect.com.
?
Otherwise, please contact me with any feedback or  questions. Thank you.
?
Bobette  Riner???????????????????????????????
Director of Indexes
TradersNews Energy
713/647-8690
FAX:  713/647-7552
cell: 832/428-7008
bobette.riner@ipgdirect.com
http://www.tradersnewsenergy.com
?
?
 - comedhrly030601.doc
 - tvahrly030601.doc


Lynn,

I am forwarding you the resume of a very bright and motivated young man
who attended a lecture I gave recently at LSU.

I think we should consider him for an analyst position.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/15/2000
08:52 AM ---------------------------

"Richard C. Iles" <riles@ultracomputer.com> on 09/14/2000 11:14:56 AM
Please respond to "Richard C. Iles" <riles@ultracomputer.com>
To: <vkamins@enron.com>
cc:
Subject: Enron Opportunities

Dr. Kaminski:
?
Here is my resume and cover letter.
?
Thanks,
?
Richard Iles
 - Enron Cover and Resume.doc


If you cannot read today's e-Journal, please visit this link:  <http://www.michbar.org/e-journal/112601.html> Or to receive a plain text version, please send an e-mail to lyris@lists.michbar.org  In the body, type:  unsubscribe ejournal and on the next line type:  subscribe ejournal-text


A few of you have asked for additional material on strips, since the text
book does not cover this.  There was already a FAQ on this (What is a
Strip?) but I have also added another FAQ.  This is a two page explanation
of what a strip bond is and how to price them.  Click on "Can you provide us
with additional material about strips?" on the FAQ page:
http://haas.berkeley.edu/~berk/teaching/E203/faq/faq.html


I will be in throughout the holiday period but leaving early on 12/29.  My
team will have the appropriate coverage.  I do have vacation planned for
February 14-20.

From:  Rick Buy
12/13/2000 02:27 PM

Sent by: Karen K Heathman
To: William S Bradford/HOU/ECT@ECT, Rick L Carson/HOU/ECT@ECT, David
Gorte/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT, Mark Ruane/HOU/ECT@ECT, Steve W
Young/LON/ECT@ECT
cc: Dorothy Youngblood/HOU/ECT@ECT, Bobbie Campbell/HOU/ECT@ECT, Pam
Metoyer/HOU/ECT@ECT, Rita Hennessy/NA/Enron@Enron, Denise
Naiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Claire Dunnett/LON/ECT@ECT,
Veronica Valdez/HOU/ECT@ECT
Subject: RAC Holiday Coverage

I will be out of the office the week between Christmas and New Year's and can
be contacted by telephone and fax @ (603) 875-0794.
Please make certain that there is coverage at all times for your area.
Also, please send Karen your own schedule.

Rick


what s your number

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Monday, April 01, 2002 1:19 PM
To:	Parks, Joe
Subject:	RE: yo, you there

barely

 -----Original Message-----
From: 	Parks, Joe
Sent:	Monday, April 01, 2002 11:47 AM
To:	Hayden, Frank
Subject:	yo, you there


This is why the CPUC has opened its recent OII.  The problem now receives
national attention.

Nov 16,2000

California Power Plants Get Jolt
As Natural-Gas Supplies Are Cut

By Rebecca Smith
Staff Reporter of The Wall Street Journal

LOS ANGELES -- Southern California power plants, already stressed to their
limits last summer, got another jolt this week as a cold snap caused a sharp
curtailment of supplies of natural gas used to generate electricity.

The power plants were able to switch to burning oil and continue to produce
electricity. But the unusual curtailment of natural gas underlines concerns
that an increased reliance on gas for power generation across the U.S. is
putting the reliability of the nation's electricity supply at risk.

That's because virtually all power plants now under construction in the U.S.
burn gas and only gas. The units affected this week in San Diego were able to
shift to oil only because they were older plants that originally were
constructed to burn oil. Generators have been reluctant to add a dual-fuel
flexibility to plants in recent years because oil is far more polluting than
gas and generally has been costlier.

In California, where gas-supply problems first surfaced on Monday in San
Diego, there is pessimism about a Hydra-like energy crisis that seems to grow
new heads every day. The state weathered three-dozen electrical emergencies
last summer, caused by a shortage of electricity. Officials had hoped to
solve the problem by speeding up construction of new generating plants. Now,
they're finding the state may be building its way out of an electrical
problem and into a gas problem.

One official, who has been warning of the danger of reliance on a single
fuel, said this week's disruption pointed out the necessity of developing a
comprehensive energy policy that recognizes how changes in usage of oil, gas
and electricity affect each other. "We don't just need new generating plants
and transmission lines, we may need pipelines, too," said Terry Winter, chief
executive officer of the California Independent System Operator, the
organization responsible for maintaining adequate electricity supplies.  "You
can't look at these things in isolation."

The natural-gas problems surfaced when the local gas-distribution company,
San Diego Gas & Electric Co., notified power-plant operators and a handful of
industrial users that it would be restricting their gas use by about half. In
California, residential and small businesses have first crack at natural gas,
and industrial uses are regarded as secondary, even if they are generating
plants. Dynegy Inc., the Houston-based energy concern that owns some of the
older plants that serve San Diego, immediately switched to oil. But it didn't
like doing so; its plants create three times as much pollution when  they
burn oil and exhaust valuable air-pollution emission credits that power
plants here need to operate.

The San Diego units couldn't simply be shut down, because the state was short
of power. Roughly 30% of the state's capacity already was off-line, including
many of its nuclear units, as most of those plants are now undergoing repair
after being run at capacity limits throughout the summer.

What's more, the gas-pipeline system that feeds San Diego isn't big enough to
begin with. The system was built primarily to serve residential customers and
not big power plants.

The problems could persist, off and on, through the winter. That's because
gas-storage levels are down sharply from a year ago throughout the nation,
but especially in California, because it ran its gas-fired units so hard last
summer. This time last year, Southern California had 87 billion cubic feet of
gas in storage. Now, it's roughly 50 billion cubic feet, or 43% less. Prices
also have moved up sharply, from roughly $2.50 a million British thermal
units to around $8 this week. Nationally, storage levels are down about 8%
from a year ago.

"Gas is trading higher in California than anywhere else in the nation," said
John Lavorato, chief operating officer of Enron North America, a unit of
Enron Corp. of Houston. But he said they're headed up in the Northeast, based
on cold weather forecast for the next 10 days to two weeks.

High prices for fuel also push up prices for the end product, electricity. In
California the average price for electricity to be delivered Thursday was
$228 per megawatt hour. That's double the price a week ago and five times the
price a year earlier.


---------------------- Forwarded by Edith Cross/HOU/ECT on 02/27/2001 09:15
AM ---------------------------

	Enron North America Corp.

	From:  Edith Cross                           02/22/2001 10:12 AM

To: Mark Breese/HOU/ECT@ECT
cc:
Subject: Gas Transport Issues for OPC

Here you go...
---------------------- Forwarded by Edith Cross/HOU/ECT on 02/22/2001 10:11
AM ---------------------------

	Enron North America Corp.

	From:  Edith Cross                           01/26/2001 03:12 PM

To: Ozzie Pagan/HOU/ECT@ECT, Heather Kroll/HOU/ECT@ECT
cc:
Subject: Gas Transport Issues for OPC

I wanted to quickly write up the conversations I have had today and yesterday
with John Hodge (Gas Upstream Origination - I think this is the name of the
group) related to gas transport issues for Georgia.  As I said yesterday,
Transco Zone 4 is at the Mississippi/Alabama border, and is not a delivered
price to Georgia.  The only Inside FERC SONAT index is in Louisiana.  Each of
these points are supply basins, and not delivered Indices.  Hence the need to
pay transport costs to the delivery area.  Below I have detailed the issues
on each of these pipes.

Transco Zone 4

Currently, Enron is working on a project with Transco to expand the pipeline
in Zone 4 (Project Momentum).  This project is related to development sites
at Athens and Hartwell.  John said he thought that Athens and Hartwell were
each a 500 MW combined cycle facility.  The negotiated rate for capacity on
this expansion is ABOVE max rate for Transco Zone 4.  The current max rate
for intra-zone transport is $0.21 for demand and variable costs
(approximately $0.03 is variable).  The negotiated rates for this expansion
is $0.24 for Athens and $0.27 for Hartwell.  Rememeber that the demand prices
must be paid year round for the maximum capacity needed, regardless of the
actual usage.  These prices do not include the cost of fuel.  If we were to
purchase transport from Onshore Louisiana to each of these delivery points,
you can expect to add another $0.05 to the above prices.  Transco has
informed us that if we do not continue with this project, there are plenty of
people waiting to buy capacity on this expansion, and that they are already
planning another expansion after this.

Sonat Zone 3

Skygen (Calpine) is working with SONAT to expand their capacity (approx.
120,000/mmbtu/day) for a development in Augusta.  SONAT has said that they
should be able to expand this at current max rate prices.  The current max
rate is $0.55, which is $0.16 variable, and $0.39 demand.  This expansion is
from an offshore pipe through Destin pipeline to connect with SONAT.
Recently, SONAT has sold their capacity at prices lower than max rate in
order compete with Transco.

Elba Island

Theoretically, SONAT should offer Intrazonal transport from Elba Island at a
discount to max rate.  However, I think SONAT (El Paso) is still trying to
figure out what to do since we now have access to this facility. Currently,
SONAT does not want discount the transport cost.  We are waiting to see what
price SONAT charges El Paso to transport their gas from Elba Island.  So far,
they haven't reached an agreement (that we know of), but we are hoping that
SONAT will offer this at a discount to El Paso, and then we will 'force' them
to give us the same rate.  John thinks that they will charge max rate for the
transport, but embed some sort of discount into the gas price to try to get
around offering Enron a discounted rate.

I hope this helps!

Edith


My comments to the Assignment Agreement are as follows:

In paragraph A, "transformors" should be "transformers".

Please note the following comments to 6:

6. Successors and Assigns.  This Assignment shall be binding on and inure to
the benefit of the parties hereto, their successors and assigns.  This
Assignment and the rights and obligations herein may not be transferred or
assigned by one party without the other party's written consent, except that
Assignee shall be entitled to assign this Assignments to Calumet Power, LLC
or its affiliates (if permitted by the Option Agreement) and there upon be
released from any and all obligations hereunder upon the giving of written
notice to Enron.

I do not have any comments to the notice.

Please let me know if you have any questions.

Kay Mann

greg_spitzer@chicago.kirkland.com on 06/07/2000 05:19:44 PM
To: j.nassos@pecorp.com, j.burns@pecorp.com, dtauke@winston.com,
kay.mann@enron.com
cc: gaxelrod@kirkland.com

Subject: Option Agreement

Attached please find revised blacklined versions of the Assignment of Option
Agreement and Notice of Exercise of Option, incorporating changes from various
parties.  The enclosed is subject to further  comment from WLB and Peoples
Energy.

Please contact me with any questions regarding the enclosed.

Greg Spitzer
312-861-2115

(See attached file: ASSIGNMENT OF OPTION-RED1.WPD)(See attached file: EXERCISE
OPTION-RED.WPD)

******************************************************************************
The information contained in this communication is confidential, may
be attorney-client privileged, may constitute inside information, and is
intended only for the use of the addressee.  It is the property of
Kirkland & Ellis.  Unauthorized use, disclosure or copying of this
communication or any part thereof is strictly prohibited and may be
unlawful.  If you have received this communication in error, please
notify us immediately by return e-mail or by e-mail to
postmaster@kirkland.com, and destroy this communication and all
copies thereof, including all attachments.
******************************************************************************

 - ASSIGNMENT OF OPTION-RED1.WPD
 - EXERCISE OPTION-RED.WPD


I think Avista should be primary.  I don't know Kangqi.  Mark

	Mary Cunningham <MCUNNINGHAM@isda.org>
	03/27/2001 08:31 AM

		 To: Mark Haedicke <Mark.E.Haedicke@enron.com>
		 cc:
		 Subject: Avista and Kangqi

Mark:

Could you check to see if you guys know anything about Avista Energy, Inc in
Spokane, Wash. and Kangqi Oil Trading in Singapore?

Both have applied for Subscriber membership.  I'm thinking that Avista
should maybe be a Primary?

Thanks
Mary


---------------------- Forwarded by Neil Bresnan/HOU/EES on 06/01/2001 01:27 PM ---------------------------

Holly Nelson
05/30/2001 08:36 AM
To:	Neil Bresnan/HOU/EES@EES
cc:
Subject:	Hourly ISO-EES-Price Data


CALENDAR ENTRY:	APPOINTMENT

Description:
	Strangers Gas w/Raetta, Tangie, Harry (your office)

Date:		8/3/2000
Time:		10:00 AM - 10:30 AM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


eSource presents Piranha Web training

Piranha Web offers an online connection to complete company analysis via
content that includes Disclosure, Worldscope, Datastream and I/B/E/S.  The
product is designed to allow users to get complete company fundamental
financials, earnings estimates, and market data.

Training Agenda Includes:
? General Introduction.
? Basic ticker query building

Attend our Piranha Clinic:

May 11 -    9:00 -10:00 AM  EB572

Seats fill up fast! To reserve a seat, please call Stephanie E. Taylor at
5-7928
Check the eSource training page at http://esource.enron.com/training.doc for
additional training sessions and vendor presentations

http://esource.enron.com


Almost all trades executed under Merrill Lynch have been assigned to
Allegheny.  It is my understanding that Merrill will no longer be trading
financial or physical power.  The deals that Merrill will retain are as
follows
217397
425780
513602
517785
528054

If you have questions, please let me know.


Please rebook to Springs Industries, Inc.


Steve,

I shall E-mail you my standard real option spin presentation + plus a
presentation on Enron
(for analysts). You can use a few slides to  introduce the company.

I would prefer not to disseminate the information about the  use of AMC. The
industry
does not know about it yet and I consider it a very  powerful tool (given its
flexibility).

I have the files on my laptop. I shall bring it to work to morrow
and send it to you.

Please, remind me about it on Thursday (old age and the hectic pace here start
showing up).

Vince

Steven Leppard
04/26/2000 05:09 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Response from Lenos

Vince

Lenos got back to me, and said he'd prefer a high-level overview of real
options in Enron, perhaps using my notation to express the ideas.  He wants
me to keep away from the technicalities of my work.

Would you send me your (usual) powerpoint presentation on real options, and
I'll look at manipulating it to include my diagrams.  My own efforts to date
have been on fairly limited power plant modelling/asset development, and I
obviously don't have the high-level view you have.  This will ensure I get
the full range of real option type deals in my presentation.

If required I could present the real option problems I have analysed, namely:
1. Maintenance scheduling in power plant operation;
2. Gas storage;
3. Power plant asset development, which would include (1) as a sub-tree.

I will also need your advice on whether I can talk about the fact that we
prefer American Monte Carlo to build our trees.  I haven't used AMC myself up
till now, I've been carrying out static optimizations, with different price
curve scenarios being run through.

I'm still working on selling the full stochastic dynamic programming approach
- people are just getting to the stage of accepting my deterministic DP, and
they're still being supplied with useful products, as per my "Real Options
Strategy" document.

Cheers,
Steve


For similar reasons, no funds are to be withdrawn in the future from any of the bank accounts of Enron Energy Services Canada Corp. or Enron Direct Canada Corp. without first obtaining the consent of Dave Delainey, Rob Milnthorp and me, who are the Directors of those two companies.

 -----Original Message-----
From: 	Crawford, Sharon   On Behalf Of Keohane, Peter
Sent:	Wednesday, November 21, 2001 9:45 AM
To:	McMahon, Jeffrey; Bowen Jr., Raymond; Perkins, Mary
Subject:	Debt Funding to Enron Corp.

Please see attached memo:


Dynegydirect was experiencing technical difficulties that required it to be
temporarily unavailable.  However the problems have been resolved and
traders may go ahead and log back in to Dynegydirect.
We are sorry for any inconveniences this may have caused you.  If you have
any further questions please contact us at the number below.

DYNEGYdirect e- care
Customer Support
Dynegy, Inc.
Ph: (877) 396.3493   Fx: (877) 396.3492
Email: ecare@dynegydirect.com


nonet (no-NET) noun

   1. A combination of nine instruments or voices.

   2. A composition written for such a combination.

[Italian nonetto, from diminutive of nono, ninth, from Latin nonus.]

   "Lovano leads a slightly different nonet in performances of his rich and
   surprising charts."
   ShortList, Village Voice, May 23, 2000.

(Tenon, a term from carpentry, is a projection on the end of a piece of wood
shaped for insertion into a mortise to make a joint. -Anu)

This week's theme: semordnilaps, or words that spell other words when
reversed.

.............................................................................
I have yet to hear a man ask for advice on how to combine marriage and a
career. -Gloria Steinem, women's rights activist, editor (1934- )

Subscribe:    http://wordsmith.org/awad/subscribe.html
Unsubscribe:    http://wordsmith.org/awad/unsubscribe.html
Change address:   http://wordsmith.org/awad/address-change.html
Gift subscription:  http://wordsmith.org/awad/gift.html

Pronunciation:
http://wordsmith.org/words/nonet.wav
http://wordsmith.org/words/nonet.ram


The centerpiece of the press conference was the letter to Senator Burton
and Assemblyman Hertzberg from Senator Brulte and Assemblyman Cox which we
faxed out last week.  I will fax out the additional documents momentarily.

Scott

Jeff.Dasovich@enron.com wrote:

> Anybody listen in on the press conference?  Anything of note?  Thanks.
>
> Best,
> Jeff


Gentlemen,

Due to some internal comments we have made some revisions to the land option
agreement.  The most significant change is that it is clear that the option
payment is not refundable, and will not be applied against the purchase
price.  There is also a clarification in paragraph 9 (re assignment) that the
assignee remains responsible for any liability arising prior to assignment.

I believe we are ready to go forward with signature when you are.  Please
advise if this version is acceptable.  Also, please let me know if you would
like for me to have a redline version prepared.

Kay


Hi, Vinice,

Please see attached the informaiton regarding JEDI II.

Li
---------------------- Forwarded by Li Sun/NA/Enron on 12/04/2000 07:03 AM
---------------------------

Shirley A Hudler @ ECT

11/30/2000 05:29 PM
To: Li Sun/NA/Enron@Enron
cc:

Subject: Information requested

See if this works for you.  Let me know what else you might need.


Martha, please print up and sign for me and send.  Thanks.  Robert--this is
what I'm sending to Emma.  Nothing definite yet, but Soldano might have
something soon.  I didn't want to raise expectations on that yet.   DF

Martha Benner
06/01/2000 07:34 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: Emma Letter

See attached.  One thing on the letter I am not sure on the procedure you
used in interviewing her in Houston.  Will check on the VFT order when people
start arriving this AM and I will get your mail sent overnight to you.  Talk
with you later.

Martha


FYI.  Any winery suggestions for my pal?  You're guy Jason seems like a great
find.  Congratulations.
----- Forwarded by Jeff Dasovich/NA/Enron on 11/08/2000 11:41 AM -----

	"Rich Wong" <rwong@Haas.Berkeley.EDU>
	Sent by: owner-eveningmba@Haas.Berkeley.EDU
	11/08/2000 11:31 AM
	Please respond to "Rich Wong"

		 To: <mba02@haas.berkeley.edu>, <mba01@haas.berkeley.edu>,
<fx00@haas.berkeley.edu>, <eveningmba@haas.berkeley.edu>
		 cc:
		 Subject: CSO - Ariba presentation on Monday

Ariba will be making a presentation to 1st year and graduating Haas students
this Monday at 12:30pm at the Faculty Club (box lunches included) in advance
of their upcoming interviews. Please sign up on BearTracks if you plan to
attend.

Rich Wong
Account Manager
Haas Career Center

And now for a word from Ariba ...................

Come hear Berkeley Alum and Ariba Co-Founder, Bobby Lent talk
> about the B2B
> space and how Ariba has established itself as a leader.
>
> Ariba, Inc.
> As the leading provider of B2B solutions and services to leading companies
> around the world, including more than 40% of the FORTUNE 100, Ariba helps
> companies cut through the complexity of opportunities presented by the new
> economy. Ariba provides the most comprehensive and open commerce
> platform to
> build B2B marketplaces, manage corporate purchasing, and electronically
> enable suppliers and commerce service providers on the Internet.
>
>
>
> Kirsten Patterson
> Ariba, Inc.
> kpatterson@ariba.com
> 650-930-6357


not sure, meet you in the lobby?

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Thursday, February 14, 2002 12:19 PM
To:	Parks, Joe
Subject:	RE:

Will my UBS pass work there?

 -----Original Message-----
From: 	Parks, Joe
Sent:	Thursday, February 14, 2002 12:19 PM
To:	Hayden, Frank
Subject:	RE:

on the fourth floor

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Thursday, February 14, 2002 12:18 PM
To:	Parks, Joe
Subject:	RE:

Ground hog day.
They have asked me to sign non-compete.  I don't want to sign contract as is.
Where are you?

 -----Original Message-----
From: 	Parks, Joe
Sent:	Thursday, February 14, 2002 12:16 PM
To:	Hayden, Frank
Subject:

you watch any of sharron watkins. she does paint a pretty picture. hows it going?


John,

In reviewing the remaining schedule C, I feel comfortable releasing the Green Mountain reserve of $2.09 MM. It was held back as we waited for the development of an hourly market and an ancillary market. I feel that the inherent risk associated with the ancillaries can be captured in the curves now that we have seen a market for 3 months. The scalar risk can be reflected in the hourly scalars. As for the QSE default exposure, I am willing to absorb it in my book.

Please let me know if you have any questions,

Doug


Brad and Donna, you have all of my employees covered.  Only change is Cynthia Rivers and
	Jacob conklin need to be under Sheila instead of me.  Thanks. Lynn

 -----Original Message-----
From: 	Holmes, Bradley
Sent:	Friday, November 16, 2001 12:07 PM
To:	Bryant, Mike; Nacey, Sheila; Corman, Shelley; Blair, Lynn; Scott, Donna; January, Steve; Dietz, Rick
Subject:	CONFIDENTIAL- IMMEDIATE ATTENTION - PAA LIST

Attached is the list of employees and necessary information for the PAA distribution.  This was generated by HR.

Sheila and Lynn:  Please review the list for accuaracy of your employees.  I have reviewed Rick's employees.  Mike and Steve, I have reviewed your employees based on the information you provided.  No Midland employees are included on this list.

Donna and I are working on the PAA form.  We will forward it along when it is complete.

Brad

 << File: ETS Gas Logistics.xls >>


Consumer Groups, Calif PUC Question Pwr Contract Validity
LOS ANGELES (Dow Jones)--Two California consumer groups have asked California Attorney General Bill Lockyer to investigate whether some state electricity contracts should be nullified because of a possible conflict of interest held by one of the state's negotiations, according to a press release Monday.
The Utility Reform Network and Consumers Union asked Lockyer to examine whether income earned from energy companies by consultant Vikram Budhraja presented a conflict of interest, because he may have been involved in contract negotiations with those companies
We believe there is ample evidence for the Attorney General to investigate whether some of the state's electricity contracts were made in violation of California's conflict of interest laws," said Bill Ahern, senior policy analyst with Consumers Union West Coast Regional Office. "If the Attorney General finds that a contract was made in violation of the law, it must be set aside as void."
Three weeks after Budhraja's January hire date, Williams Companies (WMB <http://quicken.excite.com/investments/quotes/?symbol=WMB>, news <http://quicken.excite.com/investments/news/?symbol=WMB>, msgs <http://quicken.excite.com/investments/discuss/?symbol=WMB>) won a $3.4 billion contract to provide power to the state over 10 1/2 years. Budhraja disclosed in mid-August that his company, the Electric Power Group, was paid more than $10,000 by Williams during the previous 12 months. Budhraja was hired by the California Department of Water Resources to negotiate power contracts, but hasn't said which generators he dealt with in the weeks before the Williams contract was signed.
"It is reasonable to assume that Budhraja may have been involved in the negotiations that led to the Williams contract," Ahern said. "It is also likely that there are more detailed records and evidence in existence, which only a subpoena or search warrant may uncover."
The groups also are concerned that Budhraja may have held a conflict of interest due to his potential involvement in negotiating a $3.9 billion contract with Allegheny Energy Inc. (AYE <http://quicken.excite.com/investments/quotes/?symbol=AYE>, news <http://quicken.excite.com/investments/news/?symbol=AYE>, msgs <http://quicken.excite.com/investments/discuss/?symbol=AYE>) while he owned stocks in energy companies, according to the release.
The Attorney General's office recently said it doesn't plan to investigate conflicts of interest involving energy contract negotiations. No one at the office could be reached for comment Monday.
The California Public Utilities Commission is also petitioning federal regulators to throw out some of the state's $43 billion in long-term energy contracts, the San Francisco Chronicle reported Monday.
The CPUC has argued in filings with the Federal Energy Regulatory Commission over the past three months that energy companies took advantage of the state's energy crisis to negotiate high-priced contracts, according to the report. The average price of power under the contracts is $69 a megawatt-hour, more than double peak electricity prices last week.
CPUC lawyers have filed challenges before the FERC on deals negotiated with Scottish Power (SPI <http://quicken.excite.com/investments/quotes/?symbol=SPI>, news <http://quicken.excite.com/investments/news/?symbol=SPI>, msgs <http://quicken.excite.com/investments/discuss/?symbol=SPI>) unit PacifiCorp, Alliance Colton LLC, Sempra Energy (SRE <http://quicken.excite.com/investments/quotes/?symbol=SRE>, news <http://quicken.excite.com/investments/news/?symbol=SRE>, msgs <http://quicken.excite.com/investments/discuss/?symbol=SRE>) and Calpine Corp. (CPN <http://quicken.excite.com/investments/quotes/?symbol=CPN>, news <http://quicken.excite.com/investments/news/?symbol=CPN>, msgs <http://quicken.excite.com/investments/discuss/?symbol=CPN>), according to the report.
Budhraja disclosed in August that he owned as much as $10,000 in Scottish Power stock while a $1 billion long-term contract with subsidiary PacifiCorp was being hammered out. The state signed the 10-year contract July 6. Budraha sold his stock July 30. State officials say Budhraja had nothing to do with the deal, according to the report.


Christian:

Could we meet for 15-30 minutes to go over the cases listed in section 3 this
afternoon?

Alan Comnes
---------------------- Forwarded by Alan Comnes/PDX/ECT on 03/15/2001 11:32
AM ---------------------------
From: James D Steffes@ENRON on 03/14/2001 08:23 AM CST
To: Joe Hartsoe/Corp/Enron@ENRON, Susan J Mara/NA/Enron, Mary
Hain/HOU/ECT@ECT, Alan Comnes/PDX/ECT@ECT, Steve Walton/HOU/ECT@ECT
cc:

Subject: Status of California Cases

FYI.

Jim

----- Forwarded by James D Steffes/NA/Enron on 03/14/2001 08:22 AM -----

	"Ronald Carroll" <rcarroll@bracepatt.com>
	03/13/2001 05:08 PM

		 To: <jsteffe@enron.com>, <rsanders@enron.com>
		 cc: "Andrea Settanni" <asettanni@bracepatt.com>, "Jeffrey Watkiss"
<dwatkiss@bracepatt.com>, "Kimberly Curry" <kcurry@bracepatt.com>,
<jhartso@enron.com>, <mary.hain@enron.com>, <smara@enron.com>
		 Subject: Status of California Cases

Jim/Richard:

Per your request, I have attached a memo that describes the status of Enron's
participation in cases concerning the California investigation and related
market issues established since FERC's December 15, 2000 order, including
cases for which the date for intervention has not yet passed.  Please call me
if you wish to discuss or have any questions.

Ron

 - 0139365.01


ADMINISTRATIVE

Evaluation of Support Requirements - Donnie Willmann, Bill Curra and Edgar
Zuleta completed an evaluation of support requirements for the Caribbean and
Latin America that includes both continuous support activities and special
projects for 2001.  This will be presented to Mike Terraso.

EHS Corporate Operations Monthly Report - The February 2001 Monthly Report
was completed and submitted to Mike Terraso.

EUROPE

Nederlands, Enron Wind - Alan Stringer reviewed monitoring data from soil and
groundwater investigation.  Identified that no further actions was required
in terms of soil and groundwater contamination.  He is also finalizing the
EHS up-grade requirements to meet local laws and regulations, using local EHS
management from Enron Wind in Nederlands and Germany to gather costs.  Will
produce final report by March 19th.  Report will provide details on needs,
who will be responsible for the tasks and costs.

All Assets - Alan Stringer and Bal Wong reviewed and submitted February 2001
EHS Performance Report to Houston.

ENRON GLOBAL ASSETS
(Central America, South America, India and Asia)

Panama, Bahia Las Minas (BLM) Stack Testing -  currently scheduled for mid
April, 2001.

Puerto Rico, San Juan Gas Remediation Project - Donnie Willmann and Bill
Curra participated in a weekly conference call with project team members to
discuss project status.   The agency approval of the Feasibility Study (FS)
is causing delays in obtaining the permits.  The agency was provided with the
FS in October, 2000.  San Juan Gas personnel are following up daily with the
agency about formal written approval. Approval would allow remediation to
begin.   Efforts continue to procure access agreements on adjoining property.

Bolivia, Transredes and GasOriente Boliviano - - Edgar Zuleta completed the
Crisis Management Plan.  A draft version was submitted for review to
Transredes and GasOriente Boliviano management.

EHS Performance Data - Edgar Zuleta revised the February 2001 EHS performance
data for Cuiaba and Transredes and submitted it to Gavin Dillingham to update
database. Also, Edgar requested missing EHS performance data for remaining
South America assets.

India, Dabhol Power Company  -  Alan Stringer is scheduled to participate
March 19 - 30 in an environmental audit at Dabhol Power Plant.

Guam, Marianas Energy Company - Bal Wong conducted a 1 hour training on Lock
Out/Tag Out (LOTO) Program.  Annual LOTO review lessons learned were
reviewed.  Bal reviewed and commented on the Continuous Emission Monitoring
Relative Accuracy Test Audit (RATA) test procedure.  The test will be
conducted on March 20 - 21, 2001.   The procedure was submitted to Guam EPA.
He also began the review of the Marianas Power Plant Crisis Management Plan.

ENRON ENERGY SERVICES

EES - Distributed Power Generation ) Gus Eghneim is continuing to provide
permitting support to the distributed power generation team.  Several
generation facilities are planned for year 2001.

Alabama, Mobile Energy Services Company ) Scott Watson has been coordinating
the implementation of  the EHS Transition Plan he prepared.   Also he will
conduct an EHS Audit at this facility the week of March 25th, 2001.   Ramiro
Garcia and Gus Eghneim are developing an environmental compliance Manual for
Mobile Energy Services.   This manual is based on the review of facility
environmental documents and permits.

Massachusetts, New Albany Power - Gus Eghneim is working to resolve the
environmental issues identified in the plant's 2000 audit report.   All, but
two issues will be resolved by March 26th, 2001. The work involves finalizing
the plant's environmental compliance manual.

Enron EHS Statistics Report ) Scott Watson updated the database reports for
Garden State and Daishowa Paper Mills.   Both facilities are under Enron
Industrial Makerts.

Eli Lilly Project )  Scott Watson, Henry Van and Bill Curra are preparing the
EHS Policies and Procedures Manuals and Training Program.  The Eli Lilly
account includes utility delivery service for 5 facilities.

GLOBAL INDUSTRIAL MARKETS

Quebec, Canada, Daishowa Pulp & Paper Co. ) Scott Watson and Gus Eghneim
prepared the EHS Audit Report (audit conducted Feb. 27 March 2).  The report
was submitted to the Transition Team.   Both participated in a Transition
Team meeting to discussed audit findings.

ENRON AMERICAS

Michigan, White Pine Energy, Ada Cogeneration Plant ) The U.S. EPA included
Ada Cogen Plant in its Section 126 rulemaking, adopted in January 2000.  This
rulemaking established emission limits for electric generation plants in 12
states in the North East. The EPA also included Ada Cogen Plant on the list
of plants required to reduce emissions under the EPA SIP call.  The Illinois
EPA is currently developing regulations to comply with the EPA SIP Call
requirements.  Under the Section 126 rulemaking and the proposed Illinois,s
SIP call regulations, Ada Cogen Plant  will be required to install Selective
Catalytic Reduction (SCR) by 2003 to meet stringent NOx emission limits.  At
an estimated capital cost of $5 million and an O&M cost of $500,000 per year,
the plant may be forced to shut down.

Gus Eghneim filed a petition with the U.S. EPA to exclude Ada Cogen Plant
from the Section 126 rulemaking.  The size of the plant and its operating
history were used as justification for the exemption.  If and when this
petition is approved, Gus Eghneim will file a similar petition with the
Illinois EPA to exclude Ada Cogen from the SIP Call Rulemaking.  A meeting
with the U.S. EPA will be scheduled in the next two weeks to discuss the
petition.

CAPITAL PROJECTS

Bahamas LNG (Project Calypso) - Don Stevens visited the proposed project site
in the Bahamas this week for purposes of conducting a limited Phase I
assessment of the property and projecting potential clean-up costs for
contamination.  Project developers will use the information to negotiate with
the seller, with the intent that the seller remediate the property before
Enron purchases it.

DEPARTMENT PROJECTS

Telework/NEPI Program ) Gavin Dillingham is meeting with HR Work Perks, Sally
Alvarez and Sarah Davis and NEPI,s Elham Shirazi concerning teleworking at
Enron. The meeting is to help familiarize Enron Work Perks with the current
telework pilot program that NEPI and HGAC is launching in the Houston area
and to see if Enron would like to participate in such a program. The
consulting to develop a telework program is provided as a free service
through federal government funding and HGAC and NEPI have been given the
federal funding.

Asset/Project Tracking Database -. Gavin Dillingham is currently enhancing
the Asset Tracking Database to include more information. The information
fields that are being added will track power plant capacity, liability
concerns, costs, operator, % ENE owned, actions and costs.

Sustainability Indicators and Benchmarking- Gavin Dillingham is currently
working with Lauren Iannarone in determining what
Sustainable/Environmental/Social indices Enron should work to be listed on.
They have just completed the initial stage of the project by determining the
benchmarks and indicators that Enron should follow to be considered a
responsible corporate citizen.

Conservation International Biodiversity Forum - Susan Worthen and Catherine
McKalip-Thompson are drafting an outline for "Making the Business Case" for
discussion with their workgroups.  It is intended to offer tools for various
stakeholders to use to assess the qualitative and quantitative value and risk
associated with incorporating biodiversity into oil and gas development.

Corporate Responsibility on the Internet Site - Susan Worthen is working with
Lauren Iannarone on the development/organization of a section on the Enron
web site for corporate responsibility.  Lauren is coordinating a meeting with
HR, Community Relations, Brandon Rigney, and me for the week of 03/26 to
outline content, etc.  Investor Relations has also expressed an interest in
linking to the corporate responsibility section or having it reside under
their section.

VOLUNTEER ACTIVITIES/COMMUNITY RELATIONS

Enron Earth Day Festival ) Gavin Dillingham had a meeting with Trash Bash
yesterday and today to discuss the bayou cleanup challenge coming up on March
31st. Currently, there is a committee that is looking for volunteers and is
coordinating the logistics of the clean up.  Our corporate challenge partners
have committed between 130 - 150 volunteers.

REGULATORY TECHNICAL ANALYSIS

Greenhouse Gas Technology Conference - Marc Phillips presented information at
a Greenhouse Gas Technology Conference on the methane reductions documented
by ETS under the EPA Natural Gas STAR Program and their potential use as
emission reduction credits.

Texas Grandfather Legislation - Marc Phillips has prepared cost estimates on
the impact of the Texas grandfather legislation on the pipeline industry and
ETS facilities and is participating in conference calls with industry groups
to present an industry position on the legislation.

ANSI's Proposed Z365 Standard for Ergonomics - Russell Tucker worked on the
API task force to assemble comments for the second public comment period for
the Z365 proposed ANSI standard. Addressing concerns in this proposed
standard has become more important in view of the demise of OSHA's ergonomics
final rule.

Participation in Bureau of Labor Statistics (BLS) Survey - Russell Tucker has
established the process and information links necessary to record the weekly
data requested by the U.S. Department of Labor, BLS, for a survey of
occupational injuries and illnesses during 2001 for the ECT Strategic Value
Corp. A final report is due this Agency in January 2002.

ADVOCACY COORDINATION & COMMERCIAL SUPPORT

Air Quality/Multipollutant Strategy -- Carbon Dioxide Regulation -  Jeff
Keeler coordinated Enron's involvement in activities surrounding President
Bush's statement (in a letter to several Senators) that mandatory caps on CO2
emissions should not be included in any multipollutant approaches for the
power sector.  Jeff maintained communications with EPA, White House, and
congressional contacts on the subject, and advised our "Clean Power Group"
coalition and congressional staff on possible responses and future
strategies.  Jeff is working closely with Senate Environment Committee staff
to craft legislation that will still move forward on NOx, SO2 and mercury
while continuing to look at meaningful approaches to carbon reduction.

EPA Appointments - Jeff Keeler worked on gathering information and vetting
candidates withing Enron on two EPA appointments critical to Enron businesses
-- EPA Asst. Administrator for Air and Radiation and EPA Region 9
Administrator.   Final recommendations are being prepared for Enron to
communicate to the White House.

California Energy Crisis & Environmental Regulation -  ESG continued its
leadership in providing intelligence and analysis to commercial and
government affairs groups on environmental policy activities affecting the
California crisis.
Mary Schoen produced analysis of new California bills and executive actions
affecting permitting and environmental regulation of power generation
sources, and provided feedback to Enron commercial groups, government affairs
and regulators.  Mary also worked on further analysis of actions being taken
by state CARB officials and local authorities in the SCAQMD to potentially
revise air quality programs.
Stacey Bolton worked w/Janel Guererro and the California Crisis Team on
opportunities to enhance Enron's California messages with Enron's green
messaging and environmental business opportunities.

Trading Market Development - Stacey Bolton continued her leadership in
developing market-based systems for trading renewable energy credits:
PJM: Drafted a "strawman" detailing a credit trading program to submit to
PJM, asking them to form a working group.  Organizing a stakeholder meeting
for March 20th in Philadelphia to form a coalition to lobby for a credit
trading program.  Stakeholders include Community Energy, PG&E National Energy
Group, Green Mountain, Center for Resource Solutions, Penn Futures, National
Exchange Carriers and NCE-Pearson.
NePool: Submitted comments on an RFP that NePool is issuing for the
Generation Information System on March 21
Renewable Energy Desk: Coordinating with Elliot Mainzer of ENA West on
forming a team to respond "holistically" to the regulatory and public
relations/messaging needs of the new commercial venture.

Clean Power Product Development - Stacey Bolton worked on several initiatives
toward developing Enron commercial opportunities
PA C&I Negawatts Program:  Presented proposal for a C&I Negawatt program in
Pennsylvania to the Green-e Negawatt Subc.  Received clearance on conceptual
idea to present the proposal to the full Mid-Atlantic Advisory Committee on
Monday, March 19th.  If approved, we will work through the fine details of
the program w/ Green-e, submit it for final approval to their Green Power
Board, and launch the program this June.
Energy Efficiency Allowances:  Met with EES (Heather Mitchell and Elizabeth
Howley) regarding developing a proposal for energy efficiency savings to be
eligible as NOx allowances to the TNRCC.  Spoke with Bill Jordan at the TNRCC
regarding this issue, timeframe, and method for presenting a proposal to
them.  Also set a goal to attempt to get Negawatt Credits to trade on TX REC
and voluntary certificates of generation system.

Environmental Reporting/Compliance - Stacey Bolton worked with EES to advise
them on various reporting requirements:
CEC Annual Report:  EES submitted their annual report to the California
Energy Commission and Green-e on March 1st.  The CEC had several questions
regarding tying EES purchases to specific generators.  Worked w/ EPMI and EES
to help tie our purchase numbers (between EPMI, the APX and EES) in our
annual report in response to CEC's questions.
Patagonia & Fetzer:  Worked w/ Mike Smith and Peggy Mahoney to get them up to
speed on our disclosure requirements in CA (given that EES is no longer
delivering commodity to large customers) and that the CEC was okay w/ our
green tag product to Fetzer and Patagonia.

COMPETITIVE INTELLIGENCE

Commercial Opportunities
Abbott Laboratories:  Jeff Keeler forwarded to EES information about an
opportunity to provide energy/environmental outsource services to Abbott
Labs, based on contact with their head of energy/EHS operations at the GEMI
new members meeting.
Landauer Deal:  Stacey Bolton presented EES w/ a business opportunity to join
w/ a large real-estate development company to install solar panels and
distributed generation on large strip malls, starting in NY.  Organized a
call for next Wednesday to discuss potential partnership.
Greening the Enron Building: Stacey Bolton is assisting Enron Wind and the
East Desk forward an idea to be the first Fortune 500 company to "go 100%
green" in our headquarter building.  Facilities is interested in commodity as
well (wants to switch from Reliant).  Organizing meeting of internal
stakeholders (ENA, EES, Enron Wind) for next week to discuss full commodity
and outsourcing options coupled w/ green tags from our Enron Wind facility in
West Texas.
Wind supply in PA: Stacey  Bolton was contacted by Community Energy in PA
regarding a new wind facility w/ available credits.   Let EES renewable desk
know of this new green supply as an opportunity given their procurement of
green power responsibilities for New Power's 2% renewable obligation in PA.

Energy Efficiency/Renewable energy - Stacey Bolton informed EES and ENA about
$358 million in funding recently approved by New Jersey for new energy
efficiency and renewable energy programs.

EPA Diesel Sulfur Regulations - Jeff Keeler provided EGM with information on
the EPA's regulations requiring additional removal of sulfur content from
diesel gasoline.   New Diesel sulfur requirements will require significant
increased capital expenditures by refiners, which affects the EGM price curve
for fuels, as well as trading, risk management and origination opportunities
with refiner customers.  This information may also be the basis for exploring
new markets for cleaner diesel products.

Distributed Generation - Equity Investments - Jeff Keeler provided follow up
advice and analysis to Enron Principal Investments group on environmental
regulatory drivers affecting markets for distributed generation technologies
and federal/state incentive monies available for projects involving
distributed generation technologies.   Principal investments has made equity
investments in a number of new technologies, and is considering many future
investments -- environmental regulation is a significant driver for many of
these technologies.


Per Bobbie Moody, x35955


Tana/Kelly/Karen:

The product long descriptions below will fall under the new product type:
 CAN Newsprint Phy

Credit (Tom Moran) has approved copying the profiles for the new product type
from the following:

 US Newsprint Phy

Please respond no later than 10 a.m. on Wednesday, May 30.

Thank you.

 -----Original Message-----
From:  Lozano, Melba
Sent: Tuesday, May 29, 2001 1:14 PM
To: Sever, Stephanie
Subject: FW: Product Type approval needed (CAN Newsprint Phy)

 -----Original Message-----
From:  Walker, Chris
Sent: Thursday, May 24, 2001 4:19 PM
To: Blumenthal, Jeff; Musch, Susan; Hagelmann, Bjorn; Taylor, Mark; Collins,
Harry; Moran, Tom; Mao, Shari; Hoang, Charlie
Cc: Lees, Lisa; Sever, Stephanie; Jones, Tana; Lambert, Karen; Lombardi,
Kelly; Sweitzer, Tara; Kenne, Dawn C.; Moorer, Torrey; Cass, Robert B.;
Meredith, Kevin; Lozano, Melba; Alatorre, Carlos
Subject: Product Type approval needed (CAN Newsprint Phy)

Please approve the following product type in Data Manager after 11:00 A.M.
Attached are the GTC and long description.

CAN Newsprint Phy

CAN Newsprnt Phy 48.8 gm East Canada     Jul01           CAD/Mt

STEPS FOR APPROVAL:

click the  START button
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE:  Right mouse click on "Approved"


this doesn't have an attachment.  how about them seminoles!


FYI.  I haven't read it yet, but thought I would pass it along anyway.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 10/11/2000 05:23
PM ---------------------------

	Don Hammond @ ECT

	10/11/2000

To: Dale Rasmussen/HOU/ECT@ECT
cc: Jody Blackburn/PDX/ECT@ECT, Kay Mann/Corp/Enron@Enron, Sheila
Tweed/HOU/ECT@ECT

Subject: Re: Change order for GE transformer--Pleasanton

Attached are files incorporating suggested revisions for the change order to
Contract 24-LM6K-2-99 for the purchase of a generator step-up transformer for
the Pleasanton Project.

In lieu of the Exhibit A of the draft you sent out, I have substituted
Exhibit A, the GE proposal dated October 9, 2000.

I have substituted Exhibit B, GE's standard specifications for generator
step-up transformers, for the EE&CC specifications in the earlier draft. GE's
proposal is quoted on the basis of their standard GSU transformer
specification. I have this only in hard copy and have a call into GE to
verify this is the applicable standard and whether it is available in
electronic form. I will give you a copy, Dale.

The two additional documents were transmitted along with GE's proposal and I
have referenced them in Part I, Paragraph 2.


Below is a first pass at suggested responses assuming we do not file the 10-Q
on or before May 22.  Kathryn Corbally will coordinate comments from the IR
side.  Lori is coordinating comments with AA.  Steve - could you coordinate
with Bob Baird/Rex Rogers.

If you need to reach Kathryn, her direct line is (713) 853-4785.

Thanks -
Scott

Suggested comment if EOTT has not filed the 10-Q on May 22, 2000 (we will
only provide response if asked):

? We are continuing our review of the implementation of our new marketing and
accounting systems.
? We expect to have our analysis complete and the Form 10-Q finalized by June
15.

If specifically asked about the issues under investigation:

? We implemented a new marketing and accounting system in November of 1999.
As we stated in our first quarter earnings release, we are specifically
reviewing integration issues related to the to this implementation.

If asked about the magnitude of possible adjustments:

? We need to complete our investigation before we can answer specific
questions on what adjustments, if any, would be appropriate.  The required
review is labor intensive.  We are working very diligently and will provide
the information as soon as possible.


Hello Mr. Arnold,

I hope that things have calmed down in the gas market with the cold weather
finally developing.  I have been selected to come to Houston for final round
interviews.  Do you know if visitors can come to the trading floor to see
what the operations are like?  Also, if you have any hints on approaching
the final round of interviews, I would appreciate them.

Thank you for your help during the application process, and I hope you have
a good week.

Cordially,

Adam Bayer


ok

	Sue Rich@ENRON
	12/14/2000 10:31 AM

		 To: Mark E Haedicke/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: E-mail / Voice Mail Retention Policy Change Notice

Could you please put me on the notification list when changes like this are
implemented?  I manage the field IT function for ETS.  My group provides
support for about 1800 field employees.  We need to be able to roll this
information out in a timely manner to those field employees.

Thanks.  If you have any questions/concerns, please feel free to call me at
402-398-7809.

Sue
---------------------- Forwarded by Sue Rich/ET&S/Enron on 12/14/2000 10:26
AM ---------------------------
From: Jean McFarland on 12/13/2000 03:33 PM
Sent by: ETS General Announcement
To: ET&S Omaha Office
cc: Bob Martinez/ENRON@enronXgate, ETS Solution Center/OTS/Enron@ENRON

Subject: E-mail / Voice Mail Retention Policy Change Notice

E-mail / Voice Mail Retention Policy Change Notice

We have just received notice of a change to the e-mail and voice mail
retention policy.  The change will go into effect Friday, December 15, 2000.

The greatest impact will be to your "sent mail," which will be retained only
30 days as compared to the current 365 days.

As a reminder, you should not use the email system to store important
documents.
They should be saved to your network directory which is regularly backed up.

However, for 'sent' messages you want to keep longer than 30 days in the
email system, you should move the messages from the Sent Mail to a specific
folder where the messages can be kept 365 days.

The scope of the e-mail retention policy includes all forms of electronic
mail, for example, Lotus Notes Mail, Internet e-mail, Outlook e-mail, and
voice mail.

Enron supports a work environment in which information is freely exchanged
and encourages employees, contractors, and agents working on behalf of Enron
to use its computers and related electronic resources in accomplishing their
work.  Computers, systems, and networks and the work products they contain
are Enron property and subject to Enron review and control.  All Enron
employees, contractors, and agents are responsible for using the computing
resources provided to them by Enron in an appropriate manner.

The revised retention schedule follows:

Message Location    Maximum Retention
Inbox     30 Days
Message Log/Sent Mail   30 Days
Trash     Rollover from Inbox for 15 days
Bulletin Boards    30 Days
Folders/Archives    E-mails placed in Folders or Archives ) one year
Voice mail     90 days

The Corp IT Group responsible for maintaining compliance with this
e-mail/voice mail policy will automatically purge e-mail and voice mail older
than the allowed maximum retention age.  Any exception to this policy
requires approval from Mark Haedicke or Richard Sanders.

If you need assistance in creating folders and saving documents to them,
please call the Helpdesk x7454.  We will be glad to assist you.

Thank.  Jean x7173


Shirley,

Please, arrange a phone interview. TT, VK, SG, ZL.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 11/21/2000
09:06 AM ---------------------------

"Qing Chen" <qchen1@tulane.edu> on 11/17/2000 06:01:28 PM
To: <Vince.J.Kaminski@enron.com>
cc:
Subject: MBA Career Opportunity

Dear?Vincent Kaminski:
?
I got your contact details from the  web site for power marketers. I have a
strong interest in pursuing a career in  the energy industry?with a top
energy company like?Enron, where my  abilities and qualifications can be
fully applied for our mutual benefit.

I am graduating in May with an  MBA?degree with concentrations in finance and
information systems. This  summer I worked?as an intern with Structuring and
Analytics group of Ameren  Energy.?This internship?has been especially
challenging and has enhanced my professional competencies. While there, I
was afforded the opportunity to?develop a forward view  model?for?off-
peak?electricity price forecasting and analyze the  data sets of a
fundamental?model to create forward price curves. Both  projects added value
to the company and provided me with first-hand experience  in the area of
energy trading and marketing as well as modeling  techniques.

In addition, I have an undergraduate degree in Mechanical  Engineering and
two years' experience in power generating. With my work  experience in energy
finance and exceptional academic and professional  achievements, along with
my exemplary leadership and management potential and  outstanding analytical,
business communication, problem-solving and computer  skills, I'm convinced
that I will be able to make immediate contributions to  your company.

I am attaching my resume for your review. Should you have  any questions or
need clarification, please feel free to contact me at (504)  861-9110 or
qchen1@tulane.edu.

As I have some offers with deadlines  approaching, I would appreciate it if
you could give me a quick response. I also  expect?a base compensation above
$75k. I look forward to?hearing from  you soon.
?
Best Regards,

Qing (Christine) Chen
MBA  2001
A.B. Freeman School of Business
Tulane University
Tel: (504)  861-9110
 - resumeUS.doc
 - resumeUS txt.txt


Actually no one was around last week.  I have to get an amendment of the
existing $25mm line to Bear up to $100mm completed today.  Credit has already
given its approval.

 -----Original Message-----
From:  Shackleton, Sara
Sent: Tuesday, May 15, 2001 10:31 AM
To: Doukas, Tom
Subject: Bear Stearns

Tom:

I assume your guaranty issues were resolved as I never heard back from you.
Please advise.  Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


----- Forwarded by Mark Taylor/HOU/ECT on 11/02/2000 05:23 PM -----

	Mark A Taylor@EES
	11/02/2000 02:45 PM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: ADA Findings

yours?
---------------------- Forwarded by Mark A Taylor/EFS/EES on 11/02/2000 03:44
PM ---------------------------

Michael Guerriero@ENRON
11/02/2000 03:25 PM

To: Lynn Aven/NA/Enron@Enron, Mark A Taylor/EFS/EES@EES
cc:
Subject: ADA Findings

To keep you briefed. The local Derivatives company may be easier than we
thought.

MFG
---------------------- Forwarded by Michael Guerriero/SA/Enron on 11/02/2000
05:28 PM ---------------------------

Bernardo Andrews
11/02/2000 04:23 PM
To: Michael Guerriero/SA/Enron@Enron, Andrea Calo/SA/Enron@Enron, Jeff
Kabel/SA/Enron@Enron
cc:

Subject: ADA Findings

I have met with Gustavo Mengui, one of the most active representatives of ADA
today.

My findings are the following:

ADA is very active and taking a leading role on the NETTING ISSUE. Good news
is that they consider that they will be able to pass a law that redifines
netting on the bankrupcy law by year end. They assume that they will have
"media sanci?n" before mid December. Media sanci?n is basically having
approval by one of the chambers (Diputados) and a strong support to going to
the Senators Chamber shortly after. We will receive the law project today.
The law project was designed by Hector Alegria. Gustavo assumes that they
will be available to talking with our legal team upon request.
They have received from the Central Bank a request to propose all necessary
changes in the regulations so as to have the (interest rate mainly)
derivatives market going asap. This shows a fertile ground on this
institution for our future conversations.
On the CNV's side, he stated that the porject of law (on netting) was
actively supported by this body. ACtually, he commented that CNV officials
were active speakers when this matter was treated in the commission session
at Congress.
ADA is working with PWC on the tax issues. ADA and PWC are preparing to
present the government officials their proposal for the Ingresos Brutos
treatment of derivatives in the City of Buenos Aires (makes me think that we
have been talking to the right guys these last days).
Gustavo was crystal clear that, although they have been supported and funded
by banks, they are a Foundation and they are open to working with Enron. He
insisted that he does not expect conflict of interest to arise and that the
energy sector is strategical for them, specially considering the recent
evolution in financial energy trading.
There will be some issues regarding the support ADA will give to the Rofex
effort of creating an energy market. The OTC versus the formal exchange issue
is to be addressed.

ADA is willing to work with us on the future and we might have to do some
follow up meetings to get this type of news earlier.
My personal opinion is that we might like to go ahead with our conversations
with regulators and officials but I doubt whether we should go with ADA or
not. There are various pros and cons.

Lets talk for 5 minutes,

Bernardo


Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 03/21/2001 12:01 PM -----

	smara@enron.com
	Sent by: "Report mailer problems to http://www.quicken.com/support"
<nobody@nowhere.com>
	03/21/2001 11:55 AM
	Please respond to smara

		 To: undisclosed-recipients:;
		 cc:
		 Subject: Calif State Controller:General Fund Surplus Dn To

I thought you might find this story interesting.

------------------------- Article -------------------------

Wednesday, March 21, 2001 02:21 PM

<!--TEXT-->

LOS ANGELES (Dow Jones)--California State Controller Kathleen Connell
Wednesday
said the state's general fund surplus has dropped to $3.2 billion from $8.5
billion in January, mostly because of electricity purchases made by the
state's
Department of Water Resources, a press release said.

Connell also denied Gov. Gray Davis' request to transfer an additional $5.6
billion from the general fund to the Special Fund for Economic Uncertainties,
the release said.

Connell noted that, given the rapid depletion of the general fund on power
purchases, the state would need to borrow $2.4 billion in order to tranfer
the
$5.6 billion from the general fund to the special fund.

"We started this year with a generous budget surplus. The energy crisis has
taken much of that away, and this transfer on top of the electricity
purchases
would put the fund at risk," Connell said.

Connell called on Davis to ensure that the CDWR completes by the end of May
2001
the revenue bond sales that will be used to buy power and repay the general
fund.

She also asked that the CDWR notify her of all power purchases made and
contracts negotiated thus far and requested that she be told within 7 days of
any purchases and contracts negotiated in the future.

Connell also said she wanted to be told within 24 hours of any power buys
that
exceed $55 million and asked that the Department of Finance be directed to
prepare new general fund cash flow estimates for the next 30 and 60 days, and
for the end of the fiscal year.

The state's Department of Water Resources has been buying power since January
in
lieu of Edison International (EIX) utility Southern California Edison and
PG&E
Corp (PCG) utility Pacific Gas and Electric Co, because suppliers refused to
sell to the nearly-bankrupt utilities.

-By Jessica Berthold; Dow Jones Newswires; 323-658-3872;
jessicaberthold@dowjones.com

Gov. Davis' office said, in response to Connell's comments, that the state
budget was solid and the economy remained strong.

"We will be getting the money back we've paid for energy and it should have
no
significant effect on the state's finances from the Wall Street perspective,"
said Davis press secretary Steve Maviglio.

-By Jessica Berthold; Dow Jones Newswires; 323-658-3872;
jessicaberthold@dowjones.com

2001 Dow Jones & Company, Inc. All Rights Reserved.

-----------------------------------------------------------
This article on the Excite Money and Investing Channel is produced by
Quicken.com, the objective source for making the most of your money.
Visit Excite Money and Investing at http://quicken.excite.com next time
you need financial news, stock quotes, portfolio services, or information
about taxes, mortgages, and insurance.


Covisint Running Out of Excuses to Deliver on Its B2B Promise
By Joe Bousquin
Staff Reporter
9/13/00 9:09 AM ET
URL: http://www.thestreet.com/tech/internet/1076377.html
Uh-oh. Covisint can't blame it on the government anymore.
When word came Monday that the Federal Trade Commission had green-lighted the
Big Three automakers' Internet exchange, the business-to-business world
breathed a collective sigh of relief. That huge cloud of uncertainty, known
as government intervention, had been lifted.
Which means Covisint can't blame its state of disarray on the policy wonks
anymore. Instead, the company will have to execute on its B2B promise -- soon
-- for positive momentum to continue in the B2B sector.
The influence of the mega exchange, in which Ford (F:NYSE), General Motors
(GM:NYSE) and DaimlerChrysler (DCX:NYSE) plan to buy materials and supplies
on the Internet, has already affected the performance of business-to-business
stocks. Just look at Commerce One (CMRC:Nasdaq) on Monday, when Covisint's
FTC clearance was made public. It shot up $3.75, or 5.3%, to close at $75.13,
though it had traded as high as $78.13. But Tuesday, after the initial impact
of Covisint's clearance had waned, so did Commerce One's stock price. It
closed down $6, or 8%, at $69.12.
Similarly, when the antitrust issues started creeping onto the B2B scene, and
the government made known that it was looking at the exchange over antitrust
concerns, B2B stocks swooned. Now, going forward, how Covisint executes on
making B2B a reality, and not just the substance of a press release, will
surely play itself out on B2B stocks.
Right now, though, the company's prospect for swift and flawless execution of
its vision doesn't look good. It hasn't named a CEO. It hasn't finalized yet
where its headquarters will be. And perhaps most important, it has yet to
hammer out exactly what technology it will run on.
"Covisint doesn't have a crutch or an excuse anymore," says Scott Crompton,
vice president for global automotive practices at consultant SeraNova.
"Before, they could lean on the FTC as to why they weren't going forward, but
now, they're going to have to show some meaningful progress."
To date, there has been anything but. In its first few months, the company
stumbled about nameless, until Covisint was decided upon. That moniker, which
is meant to evoke the ideals of communication, vision and integration,
instead elicited visions of corporate wonks sitting around a triangular table
white-boarding their separate goals.
All the while, the company had four interim co-CEOs and two competing
technologies to run on. Because Oracle (ORCL:Nasdaq) had worked with Ford and
Commerce One with GM before Covisint was announced, the two software firms
were both brought into the deal. But ever since then, speculation has run
rampant over whether one firm would push the other out of the picture.
On Monday, Commerce One's CEO told TheStreet.com that the technology question
still hadn't been settled, even if the FTC's antitrust ones had.
Combine all those things and what you've got is the picture of a joint
venture between three highly competitive companies that's going nowhere fast.
Or, as Crompton puts it, Covisint is "three different companies, two
different technologies and everyone talking about whether there's a lot of
arguing and infighting."
But Covisint's already come up with someone else to blame. Now that the FTC
has passed, the company says that it's waiting for approval from the
Bundeskartellamt, or the German equivalent to the FTC. Covisint insists it
can't even begin operations in the U.S. until it gets the go-ahead from that
agency.
"If you were a supplier and I was a manufacturer, both located in San
Francisco, we could not do business because the Bundeskartellamt still holds
this control over Covisint," says Thomas Hill, a Covisint spokesman.
"Everyone at Covisint is anxious to start this business. Once the
Bundeskartellamt gives its blessing, we expect to see Covisint up and running
in 30 days."
Hill concedes that might sound like another excuse for justifying its lack of
actual operations.
"Sure, that might seem like another convenient excuse to delay a launch,"
Hill said. "I would say if people could work 25 hours a day to get this done,
they would. ... Everyone at Covisint is focused on launching in a really
timely fashion."
The company hasn't settled on a headquarters, in part, because it expects its
yet-to-be-named CEO to have some input into that decision. And as far as that
CEO goes, Covisint is still looking for one. Again, Hill said it was hard to
fill the spot when the FTC was probing the endeavor because of the
uncertainty that it brought with it.
"If you're a CEO, why would you leave your current job and take the Covisint
job before the FTC approved it?" Hill offered. "And on the other hand, if
you're the FTC and you see the company you're reviewing hiring people, that
might make you look a little more closely at what they're doing."
Both good points. But the fact remains that Covisint still has a lot more
work to do to get up and running, and these kinds of challenges tend to take
more time than expected, not less. And if those challenges become problems
for the company, the company could become a problem for the entire B2B
sector, as investors realize all over again how hard it will be to make B2B
work.
So the FTC's approval, while good for the ideal of B2B in general, might have
come a bit early for Covisint and the public B2B companies now trying to show
real results going forward.
"My perspective is that this approval from the FTC is very important for the
industry as a whole, but it shouldn't be a suggestion that Covisint has
anything wonderful in the works," says Ben Smith, a consultant with A.T.
Kearney. (His firm is a subsidiary of EDS, which formerly was a part of
General Motors.) "Now we can move on to execution. But this doesn't suggest
that Covisint has moved to that stage."
Which means investors in B2B should watch the performance of this exchange
closely.


Oneal Chris Sanders 4
E. Bass Watson 1


A Change in Plans

Martha Stewart will not be dining with us this Thanksgiving. I'm telling you
in advance, so don't act surprised. Since Ms. Stewart won't be coming, I've
made a few small changes:

Our sidewalk will not be lined with homemade, paper bag luminaries. After a
trial run, it was decided that no matter how cleverly done, rows of flaming
lunch sacks do not have the desired welcoming effect.

Once inside, our guests will note that the entry hall is not decorated with
the swags of Indian corn and fall foliage I had planned to make. Instead,
I've gotten the kids involved in the decorating by having them track in
colorful autumn leaves from the front yard. The mud was their idea.

The dining table will not be covered with expensive linens, fancy china, or
crystal goblets. If possible, we will use dishes that match and everyone
will get a fork. Since this IS Thanksgiving, we will refrain from using the
plastic Peter Rabbit plate and the Santa napkins from last Christmas.

Our centerpiece will not be the tower of fresh fruit and flowers that I
promised. Instead we will be displaying a hedgehog-like decoration
hand-crafted from the finest construction paper. The artist assures me it is
a turkey.

We will be dining fashionably late. The children will entertain you while
you wait. I'm sure they will be happy to share every choice comment I have
made regarding Thanksgiving, pilgrims and the turkey hotline. Please
remember that most of these comments were made at 5:00 a.m. upon discovering
that the turkey was still hard enough to cut diamonds. As accompaniment to
the children's recital, I will play a recording of tribal drumming. If the
children should mention that I don't own a recording of tribal drumming, or
that tribal drumming sounds suspiciously like a frozen turkey in a clothes
dryer, ignore them. They are lying.

We toyed with the idea of ringing a dainty silver bell to announce the start
of our feast. In the end, we chose to keep our traditional method. We've
also decided against a formal seating arrangement. When the smoke alarm
sounds, please gather around the table and sit where you like. In the spirit
of harmony, we will ask the children to sit at a separate table. In a
separate room, next door.

Now, I know you have all seen pictures of one person carving a turkey in
front of a crowd of appreciative onlookers. This will not be happening at
our dinner. For safety reasons, the turkey will be carved in a private
ceremony. I stress "private" meaning: Do not, under any circumstances, enter
the kitchen to laugh at me. Do not send small,
unsuspecting children to check on my progress. I have an electric knife. The
turkey is unarmed. It stands to reason that I will eventually win. When I
do, we will eat.

I would like to take this opportunity to remind my young diners that
"passing the rolls" is not a football play. Nor is it a request to bean your
sister in the head with warm tasty bread. Oh, and one reminder for the
adults: For the duration of the meal, and especially while in the presence
of young diners, we will refer to the giblet gravy by its
lesser-known name: Cheese Sauce. If a young diner questions you regarding
the origins or type of Cheese Sauce, plead ignorance. Cheese Sauce stains.
Before I forget, there is one last change. Instead of offering a choice
between 12 different scrumptious desserts, we will be serving the
traditional pumpkin pie, garnished with whipped cream and small
fingerprints. You will still have a choice; take it or leave it.

Martha Stewart will not be dining with us this Thanksgiving. She probably
won't come next year either. I am thankful.

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp


__________________

Attached is the link to a very good article that appeared in the National
Post this morning.  The author, Terry Corcoran, is Canada's senior business
writer and interviewed Ken Lay when he was here. You will see the references
to Ken Lay and Enron.  Terry phoned me yesterday to indicate he had decided
against running the piece today,  after a discussion with Dave Goulding, CEO
of the IMO.   Goulding had evidently told him that there was no immediate
urgency to  the gov't announcing a date.  Dave's concern is that if we press
for a date now we may get the one we don't want (i.e. Spring 2002 rather than
November 2001).  I told Corcoran that I understood Dave's concern but that
there was a need for an early indication from the gov't  that they were
targeting November in order that we maintain momentum among those bodies
(primarily the distributors) which bear the primary responsibility to get the
needed systems in place.  Eric Thode is forwarding a copy to John L.
----- Forwarded by Aleck Dadson/TOR/ECT on 04/17/2001 08:50 AM -----

	dan.dorland@enron.com
	04/17/2001 09:45 AM

		 To: aleck.dadson@enron.com
		 cc:
		 Subject: National Post Story

Dear aleck.dadson@enron.com,

Your friend dan.dorland@enron.com thought you might be interested in this
National Post story:

It's last call for Harris before the lights go out
http://www.nationalpost.com/search/story.html?f=/stories/20010417/534963.html

_______________________________________
This is a free service courtesy of
National Post Online (http://www.nationalpost.com)


Jeff, Bill,

I received a call today from Elsa Villareal on the Texas Desk and confirmed
with OGE's credit that due to the weather, wells have been shut in in
Oklahoma and they are calling Force Majore on one of their Interruptable
contracts to ENA (Sitara #495794).  I have been assured by OGE all firm gas
transactions will continue to flow, only this one transaction will be
effected.  The transaction calls for 15,000 mmbtu/day and is being cut down
to 7,500/day through Saturday.

Russell


I am preparing a re-draft of a previous agreement for this Canadian company.
Credit terms default for Duke Guarantor is 25M/ 50M for Enron.  Triggering
event for both parties is 10M w/ 250 multiples.  Do you want to change
these?  It is my understanding we have guaranties in place.    Please advise
asap.

Thanks!

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


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Testing was done in the test database; however, once they released the new
version of deal entry into production, they tested one more time to make sure
that the new fields were pulling into our scheduling reports. It was a
precautionary measure taken so that we wouldn't enter deals all day long only
to find out that they wouldn't show up in the Enpower to CAPS report at the
end of the day. Sorry for the confusion.

Kate

Evelyn Metoyer@ENRON
03/09/2001 10:34 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: deal 541638

Hi Kate,

Can you please let Phil know that he should be testing deals in the enpower
test database not the actual system.

Thanks

   Kate Symes @ ECT                03/09/2001 12:20 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: deal 541638

This was just a practice deal entered by Phil yesterday to test our new
version of deal entry. He zeroed out the volume, but neglected to kill the
deal or at least change it to no confirm. So this is NOT a good deal - I'm
killing it now.

Thanks,
Kate

Evelyn Metoyer@ENRON
03/09/2001 09:46 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: deal 541638

Kate can you ask Phil Platter is Dane Energy Corp the correct broker on this
deal?

Thanks


CGoering@nyiso.com writes to the NYISO_TECH_EXCHANGE Discussion List:

The NYISO is reserving hours beginning 00:00, 03:00, 04:00, 06:00, 07:00,
10:00 - 14:00, and 17:00 - 20:00 in the May 22, 2001 Real-Time Market as
well as the following hours per ECA20001006B to verify prices:

PJM:  00:00 - 03:00, 05:00, and 06:00
OH:   06:00
HQ:   03:00, 06:00, and 23:00
NE:   06:00, and 23:00

Prices in the May 23, 2001 Day-Ahead Market are correct.

This e-mail information is a copy of the official posting which can be
found at the following address on our website:
http://mis.nyiso.com/public/htm/OperMessages/CurrentOperMessages.htm#mm


Gavin,

Please note an additional change to Section 11(D)

THanks, Edmund.

Edmund Cooper
02/15/2000 04:29 PM
To: "Brown, Gavin" <Gavin.Brown@SlaughterandMay.com>
cc: Paul Simons/LON/ECT@ECT, Sanjevwks@SlaughterandMay.com, Mark
Dilworth/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, David Forster/LON/ECT@ECT,
Bryan Seyfried/LON/ECT@ECT

Subject: Re: EnronOnline - Credit Product Documentation

Dear Gavin,

Thanks for the latest drafts of the GTCs.

I have spoken with Paul about the comments on the GTCs from Tax in Houston,
and I have also spoken with Tax in London, and there are a few small changes
to the tax provisions of the GTC which London Tax feel appropriate.  I have
marked-up the proposed amendments and have also made a few other small
tidy-up changes as well.

I have made the changes to the US GTC (with collateral) and these changes
should be reflected in all the other GTCs EXCEPT that the amended references
to "the United States" in Section 11(B) should remain as references to "the
United Kingdom" in the non-US and non-Canadian GTCs.  Please let me know if
this is unclear.

Unless you have any comments on these revisions, please could you prepare
amended versions of the GTCs in anticipation of any final changes from local
counsel.

Many thanks,

Edmund.


Jeff -- Please keep George McClellan, Kevin McGowan and Stuart Staley
informed of regulatory developments in California.    Thanks, and call me if
you have any questions.

Lisa
----- Forwarded by Lisa Yoho/NA/Enron on 12/21/2000 07:29 AM -----

	George McClellan@ECT
	12/18/2000 02:40 PM

		 To: Lisa Yoho/NA/Enron@Enron
		 cc: Kevin McGowan/Corp/Enron@ENRON, Stuart Staley/LON/ECT@ECT
		 Subject: California Utilities - Bankruptcy Risk

Lisa - I would like to be kept informed on the regulatory environment in
California - especially with regard to bankruptcy risk for Mission, Sempra
and PGE.  We have significant credit exposure to each company.  Are we
following developments in this area?


Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 06/20/2000 05:27 PM -----

	Carol St Clair
	06/20/2000 05:18 PM

		 To: avitabi@llgm.com, pwright@llgm.com
		 cc:
		 Subject: Agreements

Bruce and Scott:
I just received this from our guys.  I no nothing about the call at 4
tomorrow or who is on it and when our guys want to talk to us about this, but
as soon as I find out, I will let you know.
Carol

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 06/20/2000 05:15 PM -----

	Bill Windle@ENRON
	06/20/2000 04:57 PM

		 To: Leslie Hansen/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Gaurav
Babbar/HOU/ECT@ECT
		 cc:
		 Subject: Agreements

They have finally arrived...I'll call in the am to set up a time to review.
Thanks.

---------------------- Forwarded by Bill Windle/Corp/Enron on 06/20/2000
04:55 PM ---------------------------

"Gieryn, Rick TL21J" <Rick.Gieryn@ACE-INA.com> on 06/20/2000 04:50:42 PM
To: "'bill.windle@enron.com'" <bill.windle@enron.com>
cc: "Zaccaria, Ed TL32B" <Ed.Zaccaria@ACE-INA.com>, "Hoog, David T TL16"
<David.Hoog@ACE-INA.com>, "'Baird@ballardspahr.com'" <Baird@ballardspahr.com>

Subject: Agreements

Bill:  Attached is a revised draft of the Agreements for our telephone
conversation tomorrow at 4:00 p.m.  This incorporates the changes from our
last discussion. David, Ed and I have reviewed the proposed changes, but
have only briefly discussed the current version among ourselves.  As a
result, we may have a few other items to discuss that are not noted on the
documents.  We look forward to the call.  Best regards.  Rick.

 <<Reliable Power Product Call Option Blkln.doc>>  <<Reliable Power Product
Description Blkln.doc>>  <<Replacement Power Insurance Policy.doc>>

 - Reliable Power Product Call Option Blkln.doc
 - Reliable Power Product Description Blkln.doc
 - Replacement Power Insurance Policy.doc


Melissa:  You may want to follow up with Amy.  She should have received my
comments last night.  SS

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


Start Date: 4/13/01; HourAhead hour: 7;  HourAhead schedule download failed.
Manual intervention required.


How do I go about getting my logon id and password?  I seem to have deleted
the e-mail that was sent out.

Thanks,

Eric Bass
x30977