THE BROOKINGS ALERT
week of Monday, October 2, 2000
http://www.brookings.edu/

E V E N T S
***********************************
  KEEPING THE GOOD TIMES ROLLING--
  TECHNOLOGY AND THE GLOBAL ECONOMY
  A Brookings Priorities 2000 (P2K) National Issues Forum, with
  representatives of the Bush and Gore campaigns. Moderated by
  Alan Murray, D.C. Bureau Chief of The Wall Street Journal.
  Tuesday, October 10, 2000 @ 10:00am.
  Call Communications, 202/797-6105, to attend
  http://www.brookings.edu/comm/P2K/economy.htm

  FAITH AND POLITICS
  Scott Keeter, a contributor to The Diminishing Divide: Religion's
  Changing Role in American Politics (Brookings, 2000), will address the
  supposed separation between church and state, and religion as a factor
  in voting.
  Wednesday, October 11 @ 7:30 pm. Politics & Prose, 5015 Connecticut
  Ave., NW; 202-364-1919. For more book information, please visit:
  http://www.brookings.edu/press/books/diminishing_divide.htm

H E S S  R E P O R T
***********************************
  Week four of campaign TV coverage analysis by Stephen Hess, with
  data and third round of awards for media coverage. All available at:
  http://www.brookings.edu/HessReport/

P U B L I C A T I O N S
***********************************
  Services Trade in the Western Hemisphere: Liberalization, Integration,
  and Reform; Sherry M. Stephenson, ed.
  http://www.brookings.edu/press/books/services_trade.htm

P O L I C Y  B R I E F S,
 P A P E R S, A R T I C L E S
***********************************
  "The New Partisanship: The Changed Politics of American Foreign Policy"
  article by James Lindsay; U.S. Foreign Policy Agenda (Sept. 2000)
  http://www.brookings.edu/views/articles/Lindsay/2000usfpa.htm

  "How Big is the Prospective Budget Surplus?," policy brief #64
  (September 2000), Alan J. Auerbach and William G. Gale
  http://www.brookings.edu/comm/policybriefs/pb064/pb64.htm

I N  T H E  P R E S S
***********************************
  "Don't Pull Out of the Balkans,"
  opinion by Ivo Daalder; The Washington Post (9/28/00)
  http://www.brookings.edu/views/op-ed/Daalder/20000928.htm

  "U.S. Gas-Pump Policy Is Full of Hot Air,"
  opinion by Pietro Nivola; Newsday (9/26/00)
  http://www.brookings.edu/views/op-ed/Nivola/20000926.htm

  "How Much Money Is Enough for Defense?"
  opinion by Michael O'Hanlon; Los Angeles Times (9/25/00)
  http://www.brookings.edu/views/op-ed/OHanlon/20000925b.htm

  "Critical Information not Covered by Media"
  The Hess Report, by Stephen Hess; USA Today (9/25/00)
  http://www.brookings.edu/gs/projects/HessReport/week3.htm

M U L T I M E D I A
 &  C H A T S
***********************************
  Oct. 4: Chat with Tom Loveless, Director of Brookings Brown Center on
  Education Policy, about how well American students are learning
  --@ 2:00pm EDT
  http://www.brookings.edu/comm/chat/Loveless001004.htm

  Oct 6: Chat with Robert Litan about the Internet and the economy
  --@ 1:30pm EDT
  http://www.brookings.edu/comm/chat/Litan001006.htm

  Oct. 10: Chat with Stephen Hess about the shape of the presidential race
  --@ 2:00pm EDT

  Transcripts from previous chats on regulation, social security reform,
  available at: http://www.brookings.edu/comm/chat/chat.htm

E X E C U T I V E
 E D U C A T I O N
***********************************
  Brookings Center for Public Policy Education offers 16 new programs this
  year. For more information on education programs designed for government
  and business executives throughout the year, call 1-800-925-5730 or
visit
  the Center for Public Policy Education on-line at:
  http://www.brookings.edu/ExecEd/
_______________
The Brookings Alert is delivered electronically every Monday.
We invite you to forward this Brookings Alert to a colleague.

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_______________
The Brookings Institution
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http://www.brookings.edu/

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Dale,

Friday is a bad day (Performance Review Committee all day).
What about 7:00 at the office or breakfast meeting at 7:00? We can meet
at Hyatt Regency Downtown (Smith Street).

Vince

"Dale Nesbitt" <dale.nesbitt@marketpointinc.com> on 07/05/2000 12:13:59 AM
To: "Vince. J. Kaminski" <Vince.J.Kaminski@enron.com>
cc:
Subject: Friday Morning Meeting?

Vince:

Can we get together Friday morning July 7 at 800 am at your office?  That
would be particularly convenient for me.  I will have to leave downtown at
about 945 to catch a plane.  That will ensure that I wont take up too much
of your time!!  Thanks for your efforts here, and thanks for being patient
with me.

Dale Nesbitt


Mark

Although the Xcelerator has been moved to Corp, Jim Derrick asked that I continue to receive legal support from your group.  I and people in my group have worked some with Teresa Bushman and Angela Davis in Lance Schuler's group.  Would you like me to consider Lance or someone in his group as my legal "point person", or is there someone else you'd prefer?

Thanks

Heath

Heath Schiesser
713-345-4585
heath.schiesser@enron.com


Talking points from Steve's discussion with Ken;  do not circulate.


Men:

I have a deposition in Austin on Thursday of this week.

Joe would you please let me know if you have reached the free trailer
source.

Chad and Brian, we need to select one of the following;
1. brian and I switch vehicles and I bring it home in his truck.
2. rent a trailer
3. chad buys trailer somewhere this week.

Brian your call on #1, then we go to plan 2 or 3.

e.

_________________________________________________________________
Send and receive Hotmail on your mobile device: http://mobile.msn.com


Steve,

How are things going with this request?

FYI.  The majority of deals we transact on Oasis are done as HPLC.  Only
sales to LCRA and term sales to Tufco are done as ENA.

Thanks.

Daren
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 04/04/2000
04:44 PM ---------------------------

	Enron North America Corp.

	From:  Dan J Hyvl                           03/22/2000 01:00 PM

To: Steve Van Hooser/HOU/ECT@ECT
cc: Daren J Farmer/HOU/ECT@ECT
Subject: Transport contracts

Please forward this to whoever in the Pipeline group does transport,
especially Oasis, and I disagree that it should be HPL cause most of the
things off Oasis are ENA and will continue to be.
---------------------- Forwarded by Dan J Hyvl/HOU/ECT on 03/22/2000 12:56 PM
---------------------------

Daren J Farmer
03/22/2000 12:05 PM
To: Dan J Hyvl/HOU/ECT@ECT
cc:
Subject: Transport contracts

Dan,

ENA - Texas currently has tranport contracts on PGEV and Oasis pipelines
(listed below).  Since we are transacting as Houston Pipe Line for the
majority of our trades, we need these contractsto be assigned from ENA to
HPL.  Or, we need to enter into new agreements as HPL.  What is the process
used to accomlish this?  We would like to get this set up as soon as we can.

Thanks.

Daren
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 03/22/2000
12:00 PM ---------------------------
Stacey Neuweiler   03/21/2000 12:21 PM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Transport contracts

D-

The Oasis contract #s are:  028 27099 201
        028 27099 202
        028 27099 203
        028 27099 204

PG&E contract #s are: 5095-037
   5098-695
   9121
   5203-010

PG&E parking and lending contracts awaiting approval: PLE00004
       PLA00004


Mertz called to see how the weekend went.

He is looking for new hunters. He just kicked a guy off a 4,700 acre lease
and he had a guy go into bankrucy on a company lease on 5,400 acres. He is
going to put an add in the houston chronicle. If you guys know anyone
looking for a lease of that size, might want to call mertz for more info and
put them in touch.

He also suggested that he is still looking for a farmer to plant one field
in milo for dove hunting and one in fall vegetation for deer hunting. If he
does one in milo, he was thinking he could use it for a little dove hunting
for himself and friends. I told him we would probably not have a problem
with that arrangement in return for him getting the fields planted. I'll
believe it when I see it.

_________________________________________________________________
MSN Photos is the easiest way to share and print your photos:
http://photos.msn.com/support/worldwide.aspx


All:  I received another call from Gary Ordway asking for an ISDA and our
GTC's.  Has anyone ever done credit?  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 09/26/2000 11:22 AM -----

	Sara Shackleton
	05/23/2000 01:19 PM

		 To: Tanya Rohauer/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT, Tracy Ngo/HOU/ECT@ECT
		 cc:
		 Subject: Pacificorp Power Marketing ("PPM")

All:  I received a phone call from Gary Ordway asking when he could receive
draft documentation.  Has anyone prepared credit?  Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 05/23/2000 01:17 PM -----

	Sara Shackleton
	05/10/2000 02:25 PM

		 To: Tanya Rohauer/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT, Tracy Ngo/HOU/ECT@ECT
		 cc:
		 Subject: Pacificorp Power Marketing ("PPM")

All:  I received a request from PPM to send our form of ISDA to document
trading.  We previously sent a draft to these guys on 1/13/99.  The only
difference is that they now want to trade and the Scottish Power acquisition
is done.  The contact is:

Gary Ordway
830 N.E. Holladay
Suite 200
Portland, Oregon  97232


Thanks!

 -----Original Message-----
From: 	Lee, Dennis
Sent:	Wednesday, October 31, 2001 3:01 PM
To:	Donoho, Lindy
Subject:	tw_ft report

This report does not include the Red Rock expansion contracts.
 << File: dennis.xls >>

Dennis P. Lee
ETS
Gas Logistics
(713) 853-1715
dennis.lee@enron.com


D-

The Oasis contract #s are:  028 27099 201
        028 27099 202
        028 27099 203
        028 27099 204

PG&E contract #s are: 5095-037
   5098-695
   9121
   5203-010

PG&E parking and lending contracts awaiting approval: PLE00004
       PLA00004


Attached is the final version of Transwestern's advice comments, which has been submitted to the CPUC.
-----Original Message-----
From: Dan Douglass [mailto:douglass@energyattorney.com]
Sent: Wednesday, November 21, 2001 12:33 PM
To: Kevin Coughlan; Paul Clanon
Cc: snewsom@sempra.com; rswanson@sempra.com
Subject: Transwestern Advice Comments -- SoCalGas Advice 2837-A

Attached for your information is a copy of the comments of Transwestern Pipeline Company on Southern California Gas Company's November 1, 2001 Advice Letter 2837-A.

I hope that you and all your families have a very Happy Thanksgiving!

Dan

Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd.  Suite 244
Woodland Hills, CA 91367
Tel:   (818) 596-2201
Fax:  (818) 346-6502
douglass@energyattorney.com <mailto:douglass@energyattorney.com>


Scott,

Thanks again for hosting lunch recently in Dallas.  I appreciated the open discussion around your iPlanet business as well as your views on Microsoft.

As it relates to Java and Enron, we will get you an e-mail soon that summarizes the issues we brought up.

Greg Piper
Chief Operating Officer
Enron Net Works
greg.piper@enron.com


Just a short message to apprise everyone of the cleaning results performed on
the filter separator from the Transwestern M/S.  Wipe tests taken of the
interrior portions of the separator prior to cleaning revealed PCB results
of: 360, 500 and 520 microgram.   This was not a standard wipe taken of a
specific area.  These wipes were taken over large areas to determine
presence/absence of PCB's within the separator.  After the cleaning operation
was completed, three wipe samples were taken of the interrior portions of the
separator.  All results showed non detect at less than 1.0 microgram.  I feel
we can be fairly certain that the separator is free of residual PCBs.

Jeff, would you pass this information on to your counterpart for PG&E?


Hi Sharon -

Ken Lay will be out of town.  Thanks.

"Sharon Kimmel" <skimmel@iexalt.net> on 06/27/2000 10:24:54 AM
To: "William W. Piernot" <piernotb@letu.edu>, "Walter A. Saunders, Jr."
<walter_saunders@agc.com>, "Robert N. Dietz" <bdietz@bflassociates.com>,
"Ripley E. Woodard, Jr." <rew@whplaw.com>, "Ray Daugbjerg"
<105113.2130@compuserve.com>, "Rand R. Wall" <heritage@wt.net>, "R.
Christopher Wyatt" <cwyatt@dttus.com>, "Peter Forbes"
<pforbes@houston.rr.com>, "Paul Widener" <bluesky@ghg.net>, "Michael Hensley"
<MikeH@tescodrilling.com>, "Marcus Watts" <mwatts@lockeliddell.com>, "Leo
Linbeck" <eva_quearry@linbeck.com>, "Lee Pardue, II" <lpardue@att.net>, "Ken
Lay" <kenneth.lay@enron.com>, "Joel Tietjens" <Joel@tjens.com>, "Joe
Richardson" <jrichardson@harperpearson.com>, "Jim Wise"
<banbury3419@hotmail.com>, "Jere M. Ahrens" <jahrens@dttus.com>, "Jeff L.
Murray" <jeffm@netlan-inc.com>, "James W. Hargrove" <jwhargrove@pdq.net>,
"James Shirley" <jrshirly@flash.net>, "J. Wise" <ban_bury@swbell.net>, "J. P.
Wise" <jpwise@ielectric.com>, "J. Evans Attwell" <eattwell@velaw.com>, "Frank
Vandiver" <fvandiver@sterlingchemicals.com>, "Doug Bech"
<dbech@raintreesorts.com>, "Dennis McGuire" <mcguired@tpi-sourcing.com>,
"David Smith" <DavidHillSmith@worldnet.att.net>, "David Cullum"
<cullum_david@msn.com>, "D. Stephen Goddard, Jr."
<d.stephen.goddard.jr@us.arthurandersen.com>, "Charles W. Hall"
<chall@fulbright.com>, "Charles Beall" <anne.b@worldnet.att.net>, "Bruce J.
Harper" <bharper@harperpearson.com>, "Bill Wright" <billw3@hypercon.com>,
"Barry G. Flynn" <bgflynn@swbell.net>, "Kyle Bergeron" <emalliance@aol.com>
cc:
Subject: FROM JACK TOMPKINS

?
Please see the attachments for the July 6th meeting.
?
Thank you,
?
?
Sharon Kimmel
iExalt, Inc.
skimmel@iexalt.net
281.600.4000 ext.  408
?
?
 - Ivy.gif
 - Sharon Kimmel.vcf
 - Christian Business Group-July.doc
 - SPIRITUAL REBOUNDING-June 1 meeting.doc


This e-mail will confirm the site visit by your company at LV Cogen I & II.
The relevant information is as follows:

	LV Cogen
Site Visit Date	October 18, 2000
Site Visit Time	8:00 AM to 5:00 PM
Directions to Hotels/Site	See DealBench - LV Cogen (Section V through End) Due Diligence
List/Plant Pictures Section
Meeting Time/Place	Las Vegas Cogen
	1701 East Alexander Road
	North Las Vegas, NV  89030

	Meet Bill Williams at 8:00 AM
Enron Site Visit Coordinator	Bill Williams
	503.464.8958 (O)
	503.704.9801(M)
	bill.williams@enron.com
Enron Site Visit Team	Bill Williams
	Dan Hammonds
	Mark Mullen
	Plant Manager
	Plant Engineer

Pursuant to the Site Visit Procedures sent you by CSFB, if you have not
already done so, please send me the following:
List of your team members and titles
For outside consultants, state their employer
Name, phone number (office and mobile) and e-mail address of your designated
deal team leader

Lastly, I will serve as the due diligence coordinator for LV Cogen I & II,
handling all questions and responses.  Should you have any due diligence
questions or require copies of any oversized documents, please contact me at
713.345.8992.


The multi-page printout titled "Bankruptcy Book Exposure - COB 2/1/02," which contains exposure broken out by power, gas, and all other products shows exposure as gas-physical only.

The same is true for:
National Fuel Marketing Company LLC
Ormet Primary Aluminum Corp.
San Diego Gas and Electric Company

Can we remove all of these from our "financial" list?

Eric Boyt: Note that the above listed companies might get shifted to the physical book.

 -----Original Message-----
From: 	Shackleton, Sara
Sent:	Friday, February 15, 2002 10:21 AM
To:	McMichael Jr., Ed; Dicarlo, Louis; Moran, Tom; Apollo, Beth
Cc:	Bailey, Susan; Boyd, Samantha; Panus, Stephanie
Subject:	Thiele Kaolin Company

We cannot locate any financial contracts for this counterparty.

Please verify that this party belongs on the ITM Non-terminated financial gas list.

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490


Hi Mark,
I checked the production graphs for the SCADA ATP at trent, and I can see
couple of turbines missing, turbine no. 73 & 98, I understand that I
downloaded the data from the wrong turbine for 98 but I don't know what is
wrong with turbine 73. I checked the data in the minana.db and statdat.db
files, for turbine 73 couple of times and I believe that all the data is
there, I am attaching these files again so you can check them once more.
As for turbine 98, I apologize for the silly mistake of downloading the files
from the wrong turbine, please find attached the files which I downloaded
this morning, all the 144 records for the 10-min average still exist in the
minana.db file.
Regards,
Alaadin


Put this on Kevin's review...THAT HE HELP YOU ANSWER QUESTIONS IN THAT
MEETING WITH SARA BOLKEN (MILLICAN & ASSOC.), THE ARCHIVE GROUP.
---------------------- Forwarded by Dana Davis/HOU/ECT on 11/06/2000 09:52 AM
---------------------------

"perfmgmt@enron.com"<perfmgmt on 11/02/2000 08:13:14 AM
To: dana.davis@enron.com
cc:
Subject: Year End 2000 Performance Feedback

NOTE:  YOU WILL RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.

You have been selected to participate in the Year End 2000 Performance
Management process by providing meaningful feedback on specific employee(s).
Your feedback plays an important role in the process, and your participation
is critical to the success of Enron's Performance Management goals.

To complete requests for feedback, access PEP at http://pep.corp.enron.com
and select Perform Review under Performance Review Services.  You may begin
providing feedback immediately and are requested to have all feedback forms
completed by Friday, November 17, 2000.

If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:

Houston: 1.713.853.4777, Option 4
London:  44.207.783.4040, Option 4
Email: perfmgmt@enron.com

Thank you for your participation in this important process.

The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."   Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.

Review Group: ENRON
Feedback Due Date: Nov 17, 2000

Employee Name                   Supervisor Name                 Date Selected
-------------                   ---------------                 -------------
JOLLY, KEVIN                    MARNIE LAMB                     Oct 31, 2000


Actually, if you don't expect me to keep up with you the whole 8K's, I could
probably muster up the energy.  Besides, I'm planning on sleeping the entire
way out there so I'll end up getting more sleep that night than normal.  Do I
need to do anything to sign up for the run?

	Enron Capital & Trade Resources Corp.

	From:  Julie Gibson <julieg@qualcomm.com>
11/28/2000 05:06 PM

To: Susan.M.Scott@enron.com
cc:
Subject: Re: We have a go....

any chance you'd be up for an 8K run on saturday?? only problem is that it
starts at 8:00am- too painful after your late night?? no obligation.....

At 01:37 PM 11/28/2000 -0600, you wrote:

Okay...My itinerary is as follows:? Arriving in San Diego 2:20 am Friday
night (I'll need your new address for the cab) and departing Sunday at 6:15
pm.? If you just want to leave the key under the mat that would be perfect
for me...I'll probably crash immediately anyway.? I am so excited to be
coming out there - -? I really need a break from Houston...not to mention
work.? The Gas Lamp district Saturday night sounds like fun and I would
love to meet your friends.? Also, please don't feel like you have to plan
the whole weekend, I have no problem going with the flow.

See you in a couple of weeks,
Susan


Hello, Mr. Sanders.  I am Marty Sunde's assistant and I am writing regarding
the 11/22/00 letter from Palmer, Guest & Esses regarding Euell Energy
Resources.  The letter was addressed to Mr. Lay and Marty Sunde in EES
received a copy.  We sent the letter to our General Counsel, Vicki Sharp, who
advises that she passed it on to you for handling.  As the 12/15/00 deadline
(set forth in Mr. Esses' letter) is approaching, I thought I would follow up
to see if a response has been provided to them.  If this has already been
taken care of, would you be so kind as to fax a copy of the letter to us for
our file.  Our fax number is (713) 646-2199.

Please let me know.

Thank you.


Shudeish, I spoke with Roger Kohn, Region IX EPA permit engineer, about the
time his agency will take to do the air permit reveiw for Kingman and
Flagstaff.  He stated that EPA normally gets the allowed 45 days to do the
permit review, however, at the request of the state agency, his office will
do an expidited review.  Because of the urgency of Transwetern desiring to
initiate construction, by this email, I am asking the ADEQ to request  an
expidited review  of the Kingman and Flagstaff air permits from the EPA.

Again, thanks for your work and effort that you have put in on this project.


557412 - Mallory's deal changed to Bloomberg
Kate this is an EOL deal with Powerex.

   Kate Symes @ ECT                03/22/2001 04:13 PM

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

Subject: Re: 3/22 Checkout

558066 - I see 367 in this deal

557412 - Mallory's deal changed to Bloomberg

Sean is entering last two deals.

Evelyn Metoyer@ENRON
03/22/2001 01:59 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 3/22 Checkout

BLOOMBERG

Mike Swerzbin
deal 558066
Bloomberg shows price as $367.....enpower has $267.

Jeff Richter
I am missing the following deal:
Enron sells to Dynegy Power 25 mw of 3/23-3/24 off-peak SP-15 at $140.00

PREBON

Dianna/Sean

I am missing the following deals:
1) Enron buys from Duke 25 mw of 3/23-3/24 Mid-C peak hrs at $310.00
2) Enron sells to Mirant 25 mw of 3/23-3/24 Mid-C peak hrs at $310.00

AMEREX WEST
All deals checked out o.k.


IntercontinentalExchange
                                                                                Firm Power Price Bulletin
                                                                                For Power Delivered on Thursday, October   25, 2001
                                                                                (Trade Date of Wednesday, October   24, 2001)
Click here to access index history.
                                                                                * volume represents sell-side only *

Hub	High	Low	Wtd Avg Index	Change ($)	Vol (Mwh)
Cinergy	         $28.00	         $25.00	         $27.23	+    .33	         103,200
Comed	         $26.50	         $24.75	         $25.58	+   1.33	           4,800
Entergy	         $23.85	         $23.10	         $23.47	-   1.25	          13,600
Nepool	         $40.00	         $39.75	         $39.85	+   1.29	           4,000
PJM-West	         $27.10	         $26.25	         $26.79	+    .44	          79,200
TVA	         $26.50	         $25.25	         $26.13	-   1.25	          12,800

                                                                                Includes all trades done from 6 AM to 11 AM Central Prevailing Time on the trade date specified for financially firm power delivered during the on-peak hours (6 AM - 10 PM CPT for Eastern hubs / 6 AM - 10 PM Pacific Prevailing Time for Western hubs) on the delivery date(s) specified.
                                                                                IntercontinentalExchange is the world's most liquid trading platform for over-the-counter energy and metals.  Active markets include North American power and natural gas, global crude and refined oil products, and precious metals.  Traded instruments include forwards, swaps, and options.
In order to receive the proprietary information contained in this email, you acknowledge and agree that you shall not further disseminate the IntercontinentalExchange Market Data contained herein to any person or entity without the express written consent of IntercontinentalExchange.    Furthermore, you acknowledge that (1) IntercontinentalExchange has exclusive and valuable property rights in this data; (2) IntercontinentalExchange's data is being made available to you only for your own business or personal activities; and (3) you cannot communicate the data, in any form, to any other person or entity without the express written consent of IntercontinentalExchange.
This data is provided to you free of charge.  IntercontinentalExchange reserves the right to cancel this service at any time for any reason or no reason at all.
You agree that IntercontinentalExchange does not make any representations or warranties, express or implied, with respect to the data.
To become an Exchange Participant or inquire about the indices, please contact sales@intcx.com.
To unsubscribe from this service, click here unsubscribe.
                                                                                ?Copyright IntercontinentalExchange, Inc. 2001, All Rights Reserved.


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  , 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Please notice that distillate and unleaded options have been added.

Option Candlesticks
http://www.carrfut.com/research/Energy1/candlesticks50.pdf

Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606  USA
Tel:  312-368-6149
Fax:  312-368-2281
soblander@carrfut.com
http://www.carrfut.com


At Joe's request I called Scott Miller at FERC.  Scott asked me to write up
our issues for him (as he was on his cell phone kayaking on the Chesapeake).
---------------------- Forwarded by Mary Hain/HOU/ECT on 01/30/2001 02:50 PM
---------------------------

Mary Hain
01/30/2001 02:38 PM
To: scott.miller@ferc.fed.us
cc:
Subject: ISO problems

At your request, here's a write-up of our problems with the ISO.

Issue 1 - Concerning the intertie going North out of California into the
Northwest (NW) at the California Oregon Border (COB), since about the 24th of
January, the ISO has started telling market participants that the available
transmission capacity, which is usually 2300 MW, is zero.  Last Friday, this
caused prices to increase at the Mid-Columbia (NW trading hub) by about
$50-75, costing the NW wholesale market an estimated $2-5 million per day.
This transmission capacity is within the ISO's control and, because capacity
is available, the ISO's actions seem to violate Order No. 888.  I also wonder
what would happen if another control area decided they were going to take
similar action.  This hurts Enron financially because we own FTRs and if
there is no congestion, we don't get paid anything.  This is like "economic"
force majeure.  The reason the ISO is listing zero ATC is that they're in a
Stage 3 Emergency and they're not offering sufficient price/credit terms to
get the power they need.  California obviously thinks its power needs are
more important than the NW's.

Issue 2 - We have transmission we are purchasing from some California munis
using transmission facilities that are not part of the Cal ISO.  The ISO
advised today that they are thinking about cutting exports from California.
We are concerned that the ISO will cut our transaction even though it uses
transmission assets and rights that are not under the ISO's control.  If our
deal were cut, it could cost us $20,000 to $100,000 per hour (we have a 125
MW deal and spreads now are $125 and they would likely blow out more if
exports were cut).   We hesitate to call the ISO and ask if they are going to
cut us because we are afraid we might suggest something that they haven't
thought of.

I'd be happy to answer any questions.  I'm at (503) 464-8862.


Norv Turner Fired   From the article:
http://cbs.sportsline.com/u/ce/multi/0,1329,3141082_59,00.html   Washington
Redskins coach Norv Turner was fired Monday after failing to live up to
Super Bowl expectations with the most expensive team in NFL history.  Turner
was dismissed by owner Dan Snyder one day after a 9-7 loss to the New York
Giants. It was the fourth loss in five games for the Redskins (7-6) and
third in a row at home, and it moved a team with championship aspirations
precariously close to elimination from the playoff race.
Passing game coordinator Terry Robiskie was named interim coach. He
immediately began holding team meetings for Sunday's game in Dallas.
Turner fought back tears as he said goodbye.
"I've obviously been put in a good position to have an opportunity to win,"
Turner said. "This team has a chance to be 10-6. That's a disappointment to
me. There's part of me that would like to be a part of it. There's part of
me that understands why it's necessary to make a change right now."
Turner, 48, earned a reputation as a master strategist with the Dallas
Cowboys, where he was the offensive coordinator for two Super Bowl teams in
the early 1990s. Some of his game plans in Washington were truly masterful,
but his lack of communication skills and inability to keep players focused
and motivated led to his downfall.
Injuries also slowed the offense. Three starters were lost for the season
and several others played hurt.
The reconstituted offensive line had its worst day Sunday. However, there
were also many unforced errors such as dropped balls, missed blocks and bad
snaps.
Robiskie, 46, becomes the NFL's third black head coach. He is a former
offensive coordinator with the Oakland Raiders and was one of Turner's first
hires in Washington in 1994. He is known for a tough-love coaching style
from his dealings with temperamental Redskins receivers Michael Westbrook
and Albert Connell.
"He might add a little more fire to it," Connell said.
The Redskins also announced Franklin Pepper Rodgers would become vice
president of football operations and tight ends coach Pat Flaherty would
replace LeCharls McDaniel as special teams coach.
Rodgers, a former head coach at Kansas, UCLA and Georgia Tech and at Memphis
of the USFL, will head the team's selection process for a new head coach in
2001.
//////////

My View:  If I'm Turner, I'm happy to be out from under Danny Snyder.
That's all I have to say about that.  From a FF perspective, I wouldn't be
surprised to see the team show an uptick in intensity behind Robiskie.  We
saw it in Arizona and Cincinnati but the difference here will the be the
Redskins have the talent to turn that enthusiasm into productivity on the
field.  In other news, it looks like QB Jeff George gets another start this
weekend after replacing Brad Johnson.  Turner had been Johnson's protecting
saint so the QB move coinciding with the coaching change is not surprising.

See you tonight in our upgrades and downgrades.

Joe

To unsubscribe from this group, send an email to:
cheatsheets-unsubscribe@egroups.com


It's done!!

Elizabeth Lay <lizard_ar@yahoo.com> on 02/02/2000 02:00:25 PM
To: Kenneth Lay/Corp/Enron@Enron
cc:
Subject: Fwd: FW: Charges for E-mail

Rosalee, please throw away the earlier e-mail as it
appears someone, meaning Jose Luis, didn't check their
references.
Thanks
Liz
Note: forwarded message attached.

__________________________________________________
Do You Yahoo!?
Talk to your friends online with Yahoo! Messenger.
http://im.yahoo.com

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From: "Vittor, Jose Luis" <JLVittor@mofo.com>
To: "'lizard_ar@yahoo.com'" <lizard_ar@yahoo.com>
Subject: FW: Charges for E-mail
Date: Wed, 2 Feb 2000 11:36:35 -0800
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
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I am sorry honey!
Eye lobbb uuu

-----Original Message-----
From: Perkel, Jonathan E.
Sent: Mi,rcoles, 02 de Febrero de 2000 03:54 p.m.
To: Brandel, Roland E.; eLawyers; Jahn, Paul E.; Hane, Laurie S.;
Stephenson, Richard G.; Jacobs, Michael A.; Schwartz, William I.
Subject: RE: Charges for E-mail

I'm sorry to be the bearer of bad news, but this is a hoax:

http://urbanlegends.about.com/culture/urbanlegends/library/blemtax2.htm

Here's an excerpt from the U.S. Postal Service's published response:

A completely false rumor concerning the U.S. Postal Service is being
circulated over the Internet via e-mail.
The e-mail message claims that a "Congressman Schnell" has introduced "Bill
602P" to allow the federal government to impose a 5-cent surcharge on each
e-mail message delivered over the Internet. The money would be collected by
Internet Service Providers and then turned over to the Postal Service.

No such proposed legislation exists. In fact, no "Congressman Schnell"
exists.

JEP
-----Original Message-----
From: Brandel, Roland E.
Sent: February 02, 2000 1:24 PM
To: eLawyers; Jahn, Paul E.; Hane, Laurie S.; Stephenson, Richard G.;
Jacobs, Michael A.; Schwartz, William I.
Subject: FW: Charges for E-mail

-----Original Message-----
From: DENIS T. RICE [mailto:drice@hrice.com]
Sent: February 02, 2000 10:11 AM
To: handg@altheimer.com; beilly@atlaslaw.com; wstutts@bakerbotts.com;
adam.balinsky@bakernet.com; rhudson@berrymoorman.com; jrc@bizlaw.net;
mf@blakes.ca; JMuller@brobeck.com; lengel@brobeck.com;
sfleisher@calmed.org; Carsonph@cooley.com;
robyn_polashuk@corp.disney.com; mwetzler@counsel.com;
cdt@dentonhall.com; jlmcdonnell@excitehome.net; kmurray@ffic.com;
pcoogan@fhe.com; legal@gems.vsnl.net.in; jcelniker@gj.com;
sutina@gtlaw.com; meyer-hauser@hmp.ch; jleblanc@hollandhart.com;
abrewster@hrice.com; adealcuaz@hrice.com; aeileraas@hrice.com;
ashames@hrice.com; ashelby@hrice.com; chall@hrice.com;
cortmeyer@hrice.com; cvangorder@hrice.com; dschenkkan@hrice.com;
dwinthrop@hrice.com; eschulman@hrice.com; fadam@hrice.com;
gserota@hrice.com; hlasky@hrice.com; jboal@hrice.com;
jdawsari@hrice.com; jfaucette@hrice.com; jschaffer@hrice.com;
kabel@hrice.com; kebanks@hrice.com; kneale@hrice.com; lfoy@hrice.com;
lkunzebriseno@hrice.com; mweil@hrice.com; pcalande@hrice.com;
pmedina@hrice.com; progers@hrice.com; rhaas@hrice.com;
ryamini@hrice.com; scoutu@hrice.com; sdecosse@hrice.com;
sfrankel@hrice.com; skrenek@hrice.com; anchandr@imperialbank.com;
Sonya_Sigler@intuit.com; aldrich&bonnefin@ioc.net; phil@iplegal.com;
mjpcgolc@ix.netcom.com; mstewart@kentlaw.edu; frank_harding@kpmg.co.uk;
heidt@law.pitt.edu; efleisch@linklaters.com; amorelli@manatt.com;
rrings@mcleodusa.com; RBrandel@mofo.com; Peter_Willis@msj.com.au;
s-ohsaki@nri.co.jp; gstephenson@porterwright.com; hkevane@pszy.com;
Kbrown@pszy.com; ccpitweb@public.bta.net.cn; sgamble@scwh.com;
romanekb@sec.gov; StettnerB@sec.gov; randy.chinn@SEN.CA.GOV;
listings@ses.com.sg; jcs@severson.com; kjdean@sinclair-roche.com;
wdlamb@solutia.com; caw@steelhector.com; laura.clayton@sun.com;
wtgay@swlaw.com; mkurtz@us.oracle.com;
jonathan.rosenoer@us.pwcglobal.com; lynn.holmes@usa.net;
lawtech@well.com; achandra@worldnet.att.net; pgneilan@worldnet.att.net;
haroldf@zipcon.net
Subject: Fwd: Charges for E-mail

Threats to the "Net

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advise the sender by reply e-mail @mofo.com, and delete the message.
Thank you very much.

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To:	"'Amy Clemons'" <amy.clemons@enron.com>, "'Anne'" <anneyows@hotmail.com>, "'Brad'" <bradf@inqueststaffing.com>, "'Caroline'" <carolinehead@hotmail.com>, "'Karen'" <k1p1@aol.com>, "'kriscameron@deloitte.com'" <kriscameron@deloitte.com>, "'Marcy'" <marcyrinehart@hotmail.com>, "'Maggie work'" <mbeery@hillandknowlton.com>, "'Matthew.Lenhart@enron.com'" <Matthew.Lenhart@enron.com>, "'Rachel'" <rachelarriola@yahoo.com>, "'Ritter, Robert H.'" <rhritter@utmb.edu>, "'Tara Levinthal'" <tlevinthal@aol.com>, "Pechersky, Svetlana" <SPechersky@h-s.com>, "Cohlmeyer, Lisa M" <LCohlmeyer@h-s.com>, "'Shirley Elliott'" <shirley.s.elliott@citicorp.com>, "'Holly Korman'" <holly@layfam.com>, "'MATTOSO, ANGELA'" <Amattoso@mdck.com>, "'SAM'" <missshy@texas.net>
cc:
bcc:

Subject:	FW: slut......serves her right haha

-----Original Message-----
From: Stephanie_E_Friedman@reliantenergy.com
[mailto:Stephanie_E_Friedman@reliantenergy.com]
Sent: Thursday, May 10, 2001 2:12 PM
To: ellie.bullard@mail.house.gov; christina@gulfcoastentertainment.com;
lacyprice@henrysmiller.com; kawise@hotmail.com; kafriedman@hotmail.com;
courtneyb@johndaugherty.com; emily1009@yahoo.com;
elizabeth_bowen@aimfunds.com; abradford28@hotmail.com;
alexa_carter@aimfunds.com; abradford28@hotmail.com;
laurasperry@excelonline.com; asorelle@h-s.com; MBowen1025@aol.com;
mgockturtle@mail.utexas.edu; allison.f.blanton@vanderbilt.edu;
AMcGee@thealexandergroup.com; BWare@rnchq.org;
christine_lawhon@amsinc.com; caledere@TexasChildrensHospital.org;
c.domercq@worldnet.att.net; erin.e.fowler@us.arthurandersen.com;
hbuche@kingadvisors.com; jana.m.dupree@us.arthurandersen.com;
jennspinks@aol.com; jsiff@central.uh.edu; jwunz@ncta.com;
lara.wright@bakerhughes.com; laurasperry@excelonline.com;
mbeery@HillandKnowlton.com; mmalone@loomissayles.com;
ssemple@SicolaMartin.com
Subject: slut......serves her right haha

Stephanie E. Friedman
Corporate Tax Department
Stephanie_E_Friedman@reliantenergy.com
(713) 207-3084
----- Forwarded by Stephanie E Friedman/ADM/HouInd on 05/10/01 02:08 PM
-----

                    gemma.moore@us.an

                    dersen.com               To:
Stephanie_E_Friedman@reliantenergy.com
                                             cc:
amanda.gaskin@us.andersen.com,
                    05/10/01 02:06 PM        carrie.a.henke@us.andersen.com,

                                             mgmateer@yahoo.com,

silvia.c.melendez@us.andersen.com,
                                             Rabitbear2@aol.com,
Bear4242@aol.com,
                                             ksm_00_99@yahoo.com,

leticia.ramirez@us.andersen.com,

meredith.riekert@us.pwcglobal.com,
                                             haley.c.smith@us.andersen.com,

                                             wallace_ashley@hotmail.com

                                             Subject:     slut......serves
her right haha

(See attached file: leopard.jpg)

*******************Internet Email Confidentiality Footer*******************

Privileged/Confidential Information may be contained in this message.  If
you
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In such case, you should destroy this message and kindly notify the sender
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to Internet email for messages of this kind.  Opinions, conclusions and
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(See attached file: leopard.jpg)

 - leopard.jpg


Here is the final except the "contributions" slide we discussed.  (We may have a "strategy" slide to insert Friday as well.)

Call me with any questions 36007.


I am around all day tomorrow. Please leave me a voicemail re when you want to
talk. Also-- any luck on my proposed meeting w/the Legg Mason?


Dear Defense of Houston members,
     Thank you for the nominations of new members, incl exec board members. That group  now includes James A. Baker,III, Kirbyjohn Caldwell, Ward Casscells, Red Duke, Dick Ewing, RAlph Feigin, Ken Lay, John Mendelsohn, David Persse, Dick Wainerdi, Dan Wilford, and Jim Willerson.
     Please see   the website http://www.defenseofhouston.org  for the complete membership list, relevant links, recent articles, and a bulletin board.        The mayor has asked Pastor Caldwell, Drs Willerson, Wainerdi, Duke, Feigin and me to meet tomorrow about this issue. Details soon. Suggestions welcome.  Those of you have not yet RSVP'd as to membership please do so as soon as possible.
                                                               Best, Ward

 - LIST OF INVITEES TO DISASTER RELIEF ADVISORY BOARD FOR HOUSTON.doc
 - latestBioTerrorismCasscellsOpedSept201.doc
 - patricia.m.hendrix.vcf


Read the very bottom....

Compliments of your minion.

---------------------- Forwarded by Susan M Scott/HOU/ECT on 06/19/2000 02:37
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Tom Swank                           06/19/2000 02:33 PM

To: TFBA@dynegy.com
cc: William Patrick Lewis/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT, "Sullivan,
Tim" <SullivanT2@EPEnergy.com>
Subject: Re: FW: New Enron Deal

You mock what you don't understand.....The Dyner will do the same deal 3
years from now, but LOSE $666trillion, and call it revolutionary and
strategic to their business.

To: William Patrick Lewis/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT, Tom
Swank/HOU/ECT@ECT
cc: "Pearl, Scott" <scott.pearl@csfb.com>, "Sullivan, Tim"
<SullivanT2@EPEnergy.com>
Subject: FW: New Enron Deal

what's going on over there.................
---------------------- Forwarded by Thomas F Bankert/NGCCorp on 06/16/2000
05:23
PM ---------------------------

Kim J Casey
06/16/2000 05:23 PM

To:   Thomas F Bankert/NGCCorp@NGCCorp, Byron N Pollard/NGCCorp@NGCCorp
cc:

Subject:  FW: New Enron Deal

---------------------- Forwarded by Kim J Casey/NGCCorp on 06/16/2000 05:23 PM
---------------------------

John J Stauffacher
06/16/2000 03:19 PM

To:   Kim J Casey/NGCCorp@NGCCorp
cc:

Subject:  FW: New Enron Deal

---------------------- Forwarded by John J Stauffacher/NGCCorp on 06/16/2000
03:19 PM ---------------------------

Peter Esposito
06/16/2000 02:22 PM

To:   Donna Atchison/NGCCorp@NGCCorp, Jolly Hayden/NGCCorp@NGCCorp, John J
      Stauffacher/NGCCorp@NGCCorp, M A Shute/NGCCorp@NGCCorp, John
      Sousa/NGCCorp@NGCCorp, Joel M Staib/NGCCorp@NGCCorp, Barry N
      Huddleston/NGCCorp@NGCCorp, Dennis C Flaherty/NGCCorp@NGCCorp, Marc R
      Chamberlin/NGCCorp@NGCCorp, David N Keane/NGCCorp@NGCCorp, Matt K
      Schatzman/NGCCorp@NGCCorp, Lynn A Lednicky/NGCCorp@NGCCorp, Peter
      Esposito/NGCCorp@NGCCorp, Jimmy F Thomas/NGCCorp@NGCCorp,
      lisa_krueger@illinova.com, james_fuhrmann@illinova.com, Glenn R
      Etienne/NGCCorp@NGCCorp, Chris Moser/NGCCorp@NGCCorp, Gary
      Shannahan@Illinois_Power, Vann Prater/NGCCorp@NGCCorp,
      shawn_schukar@illinova.com, Dan Mortland@Illinois_Power, Bruce
      Hollibaugh@Illinois_Power, Jay Caspary@Illinois_Power,
      Kevin_Shipp@illinoispower.com, Mary Doyle/NGCCorp@NGCCorp, Joseph
      Paul/NGCCorp@NGCCorp, Ed A Ross/NGCCorp@NGCCorp, Kathy
      Patton@Illinois_Power@NGCCorp, David Butts/IPC@Illinois_Power, Barry N
      Huddleston/NGCCorp@NGCCorp, John J Stauffacher/NGCCorp@NGCCorp, Gregory
T
      Blue/NGCCorp@NGCCorp, Glenn R Etienne/NGCCorp@NGCCorp, David N
      Keane/NGCCorp@NGCCorp, Gregory T Blue/NGCCorp@NGCCorp, Joel
      Newton/NGCCorp@NGCCorp, Karen Cottrell/NGCCorp@NGCCorp, Joseph
      Paul/NGCCorp@NGCCorp, Kathy Patton/IPC@Illinois_Power, Steve
      Dalhoff/NGCCorp@NGCCorp, Mark A Scheel/NGCCorp@NGCCorp, DLCR@dynegy.com,
      Dan King/NGCCorp@NGCCorp, Sarah Tomalty/NGCCorp@NGCCorp, Karen
      Cottrell/NGCCorp@NGCCorp, Mary Doyle/NGCCorp@NGCCorp, Christopher T
      Russo/NGCCorp@NGCCorp
cc:

Subject:  FW: New Enron Deal

---------------------- Forwarded by Peter Esposito/NGCCorp on 06/16/2000 02:21
PM ---------------------------

vanhornepr@nmenergy.com on 06/16/2000 01:58:11 PM

To:   Peter Esposito/NGCCorp@NGCCorp
cc:   picardimj@nmenergy.com

Subject:  FW: New Enron Deal

I guess Dynegy considers this retail??
---------------------- Forwarded by Philip R VanHorne/EM/NMEnergy on
06/16/2000
02:57 PM ---------------------------

Theresa A Flaim@NMPC
06/16/2000 01:56 PM

To:   Alan P Smithling/FIN/NMPC@NMPC, Bart D Franey/FIN/NMPC@NMPC, Joseph J
      Hipius/FIN/NMPC@NMPC, Martin F Amati/ED/NMPC@NMPC, Wesley J
      Yeomans/ED/NMPC@NMPC, Scott D Leuthauser/ED/NMPC@NMPC, Clement E
      Nadeau/ED/NMPC@NMPC, Jerry J Ancona/ED/NMPC@NMPC, Robert E
      Shanning/ED/NMPC@NMPC, Joseph T Ash/ED/NMPC@NMPC, James J
      Cifaratta/EM/NMEnergy@NMEnergy, Angelo F Chambrone/EM/NMEnergy@NMEnergy,
      Annette M Durnack/EM/NMEnergy@NMEnergy, Richard J
      Cohen/EM/NMEnergy@NMEnergy, Matthew J Picardi/EXEC/NMEnergy@NMEnergy,
      Philip R VanHorne/EM/NMEnergy@NMEnergy, J P
      Frazier/EXEC/NMEnergy@NMEnergy, Albert J Budney/EXEC/NMPC@NMPC
cc:
Subject:  FW: New Enron Deal

fyi
---------------------- Forwarded by Theresa A Flaim/FIN/NMPC on 06/16/2000
01:58
PM ---------------------------

"Scott, Bryan" <bscott@csw.com> on 06/16/2000 10:14:46 AM

To:   "'Deal, Ken'" <deal@netcom.ca>, Theresa A Flaim/FIN/NMPC@NMPC, "'Hoang,
      Khoa'" <khoa@ethree.com>, "'Keith, Dale M.'" <dkeith@tfs.net>, "'Neenan,
      Bernie'" <bneenan@bneenan.com>, "'Woo, CK'" <ck@ethree.com>
cc:

Subject:  FW: New Enron Deal

A different view of Enron...

----------
From:  Jeff_E_Nottingham@reliantenergy.com
<mailto:Jeff_E_Nottingham@reliantenergy.com>
[SMTP:Jeff_E_Nottingham@reliantenergy.com]
<mailto:[SMTP:Jeff_E_Nottingham@reliantenergy.com]>
Sent:  Thursday, June 15, 2000 4:45 PM
To:  robert_v_mckim_jr@reliantenergy.com;
<mailto:robert_v_mckim_jr@reliantenergy.com;>
suzie-williams@reliantenergy.com; <mailto:suzie-williams@reliantenergy.com;>
dee_r_chambless@reliantenergy.com;
<mailto:dee_r_chambless@reliantenergy.com;>
rebecca-killough@reliantenergy.com;
<mailto:rebecca-killough@reliantenergy.com;>  jeff.lamm@bchydro.bc.ca;
<mailto:jeff.lamm@bchydro.bc.ca;>  dcjml@hotmail.com;
<mailto:dcjml@hotmail.com;>  Danielle_B_Trettin@reliantenergy.com
<mailto:Danielle_B_Trettin@reliantenergy.com>
Subject:  New Enron Deal

FOR IMMEDIATE RELEASE
-----------------------
Today Enron and Hades announced a definitive energy services agreement said
to be worth an estimated $666 Trillion.
In the deal, Enron will provide both gas and electric commodities to Hades'
facilities throughout and under North America.  John D. Rockefeller, former
CEO of energy monopolist Standard Oil, is now head of Hades' energy
management division.  Said Rockefeller, "Obviously Hell has significant
heating demands.  While eternal flames are a great idea in concept, they
require vast and reliable fuel resources.  Enron was the only supplier
willing to make a deal with my boss, and, as a former monopolist, I just
like the way they do business."
A spokesperson for Enron said the two cultures were able to work easily
together during negotiations.  According to the company, "The deal fits both
companies exceptionally well.  With Hades' ability to attract and retain new
customers, we see this as a fabulous growth opportunity for millennia to
come."  According to several energy industry insiders, Hades' high heating
demand with very little need for summer air conditioning make it a very
attractive energy portfolio addition.
Hades is a multinational corporation with millions of sites worldwide and
approximately 173 quintillion customers.  The entity boasts sustained high
growth rates over the last two thousand years.
Enron is one of the world's leading energy and communications companies.
The company owns approximately $37 billion in energy and communications
assets.  Enron ranks in the top quarter of Fortune's "Best 100 Companies to
Work For if You Can Keep A Job There and Don't Mind Working 80 Hours A
Week," and is among the most respected corporations in America, as ranked by
customers with respect-us-or-get-curtailed clauses in their energy supply
contracts.


Is anyone else getting repeated Navidad virus attachments through this
service list?  Is it just this list, or others?

"Dyson, Mae" wrote:

>                   Name: 1T%F01!.doc
>    1T%F01!.doc    Type: Download File (application/msword)
>               Encoding: base64


The following additions have been made to this weeks corporate changes....

Mar. 16
From 4:00 - 11:00 p.m., the Corporate Messaging team will take Nahou-msmbx01v Storage group 2 Database 1 (X01SG02A\PRIVX01SG2A01) off-line to run a defrag on the database. This maintenance will result in a total outage for those users whose mail resides on this box.   The Hottap help desk as verified the staff working on Saturday will not be affected by this outage.  If you support systems that use outlook for problem or job notifications, you need to verify the service will not be interrupted.  Contact Cyndi Wulfson with the message team.
Mar. 19
From 5:00 - 6:00 p.m., the Corporate Server team will replace the primary NIC in NAHOU-BPMS01P.  This maintenance will cause a total outage of corporate sysAdmiral Production Batch Scheduling.

ETS Solution Center - Houston, at 713-345-4745
ETS Solution Center - Omaha, at 402-398-7454


Enron's Net Soars, Despite Telecom Loss, Gaining 40% Amid Strong Energy Units
The Wall Street Journal, 07/13/01

Enron Net Rose 40% in Quarter
The New York Times, 07/13/01

Treasury Prices Climb as More Money Is Shifted To U.S. Bonds on Weakness of Emerging Markets
The Wall Street Journal, 07/13/01

THE ENERGY CRISIS Some State Energy Consultants Own Generators' Stock Ethics: They negotiate deals and buy electricity from power firms. GOP officials claim credit for forcing the disclosure of potential conflict.
Los Angeles Times, 07/13/01

THE ENERGY CRISIS Plan Uses Public in Refund Demand Legislature: Democrats' proposal to pressure 'greedy' firms is attacked by GOP as political ploy.
Los Angeles Times, 07/13/01

COMPANIES & FINANCE THE AMERICAS - Surging energy sales behind Enron advance.
Financial Times, 07/13/01

Lex - Enron.
Financial Times - FT.com, 07/13/01

UK: Paladin says Enron sells entire stake.
Reuters English News Service, 07/13/01

White House adviser targeted for dealings with Salvation Army
Associated Press Newswires, 07/13/01

UK: Bidder list for Southern Water grows-report.
Reuters English News Service, 07/13/01

DPC not to re-start work on Phase II work
Business Standard, 07/13/01

California Power Bills Exceed Refunds, Judge Says (Update4)
Bloomberg, 07/13/01

California Governor Casts Blame for Crisis, to His Benefit
Bloomberg, 07/13/01

Enron's Net Soars, Despite Telecom Loss, Gaining 40% Amid Strong Energy Units
By Rebecca Smith
Staff Reporter of The Wall Street Journal

07/13/2001
The Wall Street Journal
A2
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Enron Corp. posted a 40% increase in second-quarter net income, reflecting the enormous profitability of its energy marketing and trading enterprise, which was sufficient to offset wider-than-expected losses at its telecommunications unit.
The Houston company had net income of $404 million, compared with $289 million a year earlier, on revenue that nearly tripled to $50 billion. Earnings per share rose 32% to 45 cents from 34 cents.
Enron was lifted by exceptionally strong electricity- and gas-trading volumes. In North America, natural-gas volumes jumped 9% and electricity-trading volumes jumped 71%. In Europe, where Enron is pushing aggressively into newly deregulated markets, trading volumes for gas more than doubled and for electricity leapt to almost five times those of before. From practically nothing just two years ago, Europe generates one-quarter of Enron's energy-trading volumes.
Profits from trading more than compensated for a $101 million loss posted for the company's telecommunications business that analysts had, until recently, proclaimed would soon generate more income than Enron's energy business. For the quarter, bandwidth-service revenue was $16 million. The unit posted a loss of $8 million for the year-earlier quarter.
Enron's chief executive, Jeffrey Skilling, said prices for capacity on fiber-optic networks, such as the one Enron has built, have been "dropping like a rock. . . . We've been shocked at the extent."
Mr. Skilling said the company is trying to boost revenue by focusing on fiber-optic delivery of data and entertainment -- "a narrow piece of the business but about all that's left" -- and is hoping the glut in capacity will evaporate as competitors go broke. He said companies that continue to invest, despite the "market meltdown," and keep their networks state of the art will be rewarded eventually.
Enron's results beat analysts' expectations, but several said they fear softening electricity prices throughout the nation, and particularly in the West, could crimp third-quarter results. "Enron benefited from unusual price volatility," during the quarter, said Raymond Niles, an energy analyst for Salomon Smith Barney. But it is uncertain whether that will continue with a general softening of natural-gas and electricity prices across the country, most notably in the West.
Mr. Skilling said he thinks California may have seen the worst of its energy crisis. He consistently has said he doesn't think Enron's earnings will be significantly affected by possible refund orders from federal energy regulators or other regulatory intervention.
He added that Enron was pleased with steps the Federal Energy Regulatory Commission took this week to encourage the formation of four big electric-transmission grid operators in the West, the Northeast, the Southeast and the Midwest.

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

Business/Financial Desk; Section C
Enron Net Rose 40% in Quarter
Bloomberg News

07/13/2001
The New York Times
Page 12, Column 4
c. 2001 New York Times Company

HOUSTON, July 12 -- The Enron Corporation, an energy trader, said today that its second-quarter profit rose 40 percent as its sales of natural gas and electricity surged in the United States and Europe.
Net income rose to $404 million, or 45 cents a share, from $289 million, or 34 cents, in the period a year ago, Enron said. Results beat analysts' estimates by 3 cents a share.
Revenue almost tripled to $50.1 billion. Enron, which is based in Houston, sold almost twice as much power in North America and five times as much in Europe than in the quarter a year ago.
Although electricity and natural gas prices surged in California, Jeffrey K. Skilling, the chief executive of Enron, said the state ''is just not a big factor'' in Enron's increasing profits. The company bolsters earnings by increasing sales of energy and other commodities like lumber and steel rather than by raising prices, analysts said.
''That's the nature of the commodities business,'' said Zach Wagner, an analyst with Edward Jones & Company. ''As markets open up, their volumes will grow. Their margins are basically flat.''
Enron's profit margin was less than 1 percent last year and has averaged 2.1 percent the last five years, based on Bloomberg data. That compares with a profit margin of 6.5 percent for Exxon Mobil, the largest publicly traded energy company.
Shares of Enron have dropped 31 percent the last year, despite steadily increasing earnings, and sales that now rival those of Exxon Mobil. Shares of Enron rose 45 cents today, to $49.55.
Enron was expected to make 42 cents a share in the quarter, the average estimate of analysts polled by Thomson Financial/First Call.

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

Credit Markets
Treasury Prices Climb as More Money Is Shifted To U.S. Bonds on Weakness of Emerging Markets
By Michael Mackenzie and Andrew Gelfand
Dow Jones Newswires

07/13/2001
The Wall Street Journal
C12
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -- Treasury prices closed higher as renewed weakness in emerging markets prompted investors to shift more money into the U.S. bond market.
It is common for Wall Street traders to bid Treasurys higher when weakness in other markets seems likely to spur flows into Treasurys, which are viewed as a haven.
But yesterday's action involved more than just Wall Street firms and provided substantial support, mostly offsetting the bearish influence of a stock rally. "Argentina is keeping a good bid in the [Treasury] market," said Peter Cordrey, managing director at Prudential Investment Management in New Jersey.
Much of the focus again was Argentina, whose long-term sovereign credit rating yesterday was cut by Standard & Poor's to single-B-minus from single-B.
S&P said the ratings outlook for Argentina remained negative and cited "growing strain on the cohesion of the governing coalition and the risk that it may impede efforts by Economy Minister Domingo Cavallo to implement draconian measures to balance the federal budget."
That country is "just looking worse and worse every time you turn around," said Drew Matus, market economist with Lehman Brothers in New York.
Despite indications that Argentine officials are trying to win agreement on spending cuts, investors remained nervous about the nation's ability to service its large external debt burden. Prices of Argentine floating-rate bonds fell about 103/8 points to 623/8.
In U.S. Treasury trading, meanwhile, the benchmark 10-year note at 4 p.m. EDT was up 8/32 point, or $2.50 per $1,000 face value, at 98 6/32. Its yield fell to 5.242% from 5.276% late Wednesday, as yields move inversely to prices.
The 30-year Treasury bond's price was up 14/32 at 96 1/32 to yield 5.652%, down from 5.684% Wednesday.
Shorter Treasury maturities preformed less strongly than longer ones, and analysts cited gains in stocks as a reason.
The Dow Jones Industrial Average surged 237.97 points to 10478.99, and the Nasdaq Composite Index jumped 103.70 points to 2,075.74. Treasurys are being "pulled in two directions, and the stock market is winning in the [short] end," said Richard Gilhooly, senior bond strategist at Paribas Capital Markets in New York.
Another factor bolstering Treasurys was economic news. In two early releases, the Labor Department reported both a huge rise in claims for state unemployment benefits and slightly lower prices for imported goods.
The number of workers filing first-time applications for jobless benefits jumped by 42,000 to 445,000 in the week ended July 7, the highest level since about mid-1992. That raised the four-week moving average to 410,750 claims.
Today, two other economic reports may dominate the attention of bond investors: the producer price index and retail sales, both for June.
A Dow Jones Newswires/CNBC survey found that economists believe the PPI was unchanged in June and will show a slight 0.1% increase in the month excluding food and energy. "The friendly inflation news should help to keep a bid in long [dated] Treasurys," said Gemma Wright, a bond-market strategist at Barclays Capital in New York.
A separate Dow Jones Newswires poll found that economists expect to see a 0.3% rise in overall retail sales in June, or a 0.2% sales gain excluding automobiles.
Corporate Bonds
Marlin Water Trust II sold $475 million and 515 million euros ($439 million) of securities via Credit Suisse First Boston and Deutsche Banc Alex. Brown.
In 1998, Enron Corp. created a special-purpose entity, to finance the purchase of water utility Wessex Water PLC of the United Kingdom. Yesterday's issue was a refinancing of that debt, but was done in a way that keeps the debt off Enron's balance sheet, underwriting officials said.
The U.S. portion of the deal was priced to yield 6.31%, or 2.25 percentage points over Treasurys. In early trading, it was quoted at 2.25 percentage points over Treasurys, which was "reasonably positive on a day when the corporate market was so jittery," said Stephen Kane, portfolio manager at Metropolitan West Asset Management.
Generally, investment-grade corporate bonds weakened on concerns about emerging markets. Yield margins to Treasurys, an important performance gauge, widened by 0.05 to 0.10 percentage point.
Separately, Citigroup Inc. tapped the market with $2 billion of two-year global floating-rate notes priced to yield 0.09 percentage point over three-month London interbank offered rate, or Libor.
Agency Securities
Fannie Mae sold $2.5 billion of callable benchmark securities, which traded strongly afterward.
Its $1.5 billion of 5.5%, five-year notes yielded 5.5657%, or 0.05 percentage point over the Fannie Mae benchmark level on an option-adjusted spread basis.
An additional $1 billion of 6.25%, 10-year notes yielded 6.408%, or 0.03 percentage point over the Fannie Mae benchmark level on an option-adjusted basis.
Scott Graham, head of agency trading at Greenwich Capital Markets, said his company saw "a number of customers" who don't typically consider callable issues, but were nonetheless looking to buy some of the new securities.
---
Sonja Ryst, Richard A. Bravo and Tyler Lifton contributed to this article.

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

California; Metro Desk
THE ENERGY CRISIS Some State Energy Consultants Own Generators' Stock Ethics: They negotiate deals and buy electricity from power firms. GOP officials claim credit for forcing the disclosure of potential conflict.
ERIC BAILEY
TIMES STAFF WRITER

07/13/2001
Los Angeles Times
Home Edition
B-10
Copyright 2001 / The Times Mirror Company

SACRAMENTO -- More than half a dozen consultants hired by the state to purchase electricity and to negotiate long-term power deals own stock in generating companies such as Calpine and Enron that have profited handsomely during California's energy crisis.
The potential conflict of interest emerged Thursday with the release of financial disclosure statements by consultants who have been hired by the state since the start of the power crunch.
Among those disclosing stock ownership were two key negotiators of long-term energy contracts and two workers hired to purchase electricity from generators, including some of the firms in which they hold an interest.
Several other consultants who played key roles in the state's energy efforts decided not to file financial disclosure statements, citing legal exemptions under state law.
Among those who did not file the financial disclosure statements were a pair of executives at two Wall Street firms that stand to make $14 million if the state buys California's power grid. Of about 50 consultants hired by the state in the past six months, 27 filed the disclosures.
The disclosures follow a firestorm in Sacramento last month over the hiring by Gov. Gray Davis of two media consultants also employed by Southern California Edison, the troubled utility that is negotiating with the state over a bailout package.
Steve Maviglio, a Davis spokesman, said the governor's legal staff was reviewing the financial disclosure forms for any potential conflicts of interest.
"If there's anything inappropriate," Maviglio said, "then we'll deal with it."
Republicans, however, said the hired workers had revealed overt conflicts that clearly violated state law.
Secretary of State Bill Jones, a Republican running for governor against Davis next year, said the revelations call into question the work performed by the consultants on high-priced energy contracts that are "going to mortgage our children's future for decades to come."
"If you show a conflict, the potential is there for collusion," Jones said. "I'm not accusing anyone, but that's why you have disclosure."
Rob Stutzman, a state GOP spokesman, said he was particularly troubled because the consultants had delayed filing the disclosure forms for months. Under state law, the forms are supposed to be submitted within 30 days after the consultants go to work for the state.
Most of the energy consultants, who could not be reached for comment, reported owning relatively small amounts of stock in energy firms, generally less than $10,000.
But one of the new workers, William Mead, disclosed that he owned between $100,000 and$1 million in Calpine, a San Jose-based energy firm. Mead did not report when the stock had been purchased.
Only one of the contractors reported selling off stock after coming to work for the state.
Vikram Budhraja, president of Pasadena-based Electric Power Group LLC, on Jan. 11 purchased between $10,000 and $100,000 in stock of Dynegy, a electricity and natural gas producer. He sold it off on Jan. 29, 10 days after he came to work for the state. Budhraja has been a top negotiator of the state's long-term energy contracts, which have included a deal concluded March 2 with Dynegy.
Richard Ferreira, a retired Sacramento Utility District executive hired by the state to negotiate long-term power contracts, reported the purchase of between $2,000 and $10,000 of stock in Calpine, a San Jose-based energy firm, in August 2000. He also purchased a similar amount of stock in General Electric Co., which produces power plant equipment, in April 2000.
Bernard Barretto, an energy trader, reported that he owned an undisclosed amount of stock in Enron Corp., a big Texas-based energy firm. Elaine Griffin purchased between $10,000 and $100,000 in Calpine stock on Feb. 1, less than three weeks before she came to work for the state as an energy trader. Constantine Louie, an energy scheduler, reported owning between $10,000 and $100,000 in Calpine stock.
Republicans took credit for forcing the Davis administration to file the reports, a charge the governor's office brushed aside.
Jones, the secretary of state, held a news conference Tuesday to complain about the failure of nearly all the state's energy consultants to file any sort of financial disclosure forms. The statements were only made available late in the afternoon Thursday, months after many consultants went to work for the state.
Maviglio, the governor's spokesman, said the delays were explained in part by negotiations that began in March with the Fair Political Practices Commission, the state's ethics watchdog, to determine if the consultants were required to file the forms.
He also suggested that Jones' accusations were fueled more by campaign politics than any devotion to constitutional duty.
"One needs to question why the secretary of state is using taxpayer money to investigate something beyond his jurisdiction," Maviglio said. "That's why we have an FPPC, to look at these kinds of things."

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

California; Metro Desk
THE ENERGY CRISIS Plan Uses Public in Refund Demand Legislature: Democrats' proposal to pressure 'greedy' firms is attacked by GOP as political ploy.
CARL INGRAM
TIMES STAFF WRITER

07/13/2001
Los Angeles Times
Home Edition
B-10
Copyright 2001 / The Times Mirror Company

SACRAMENTO -- The Democratic-led state Senate intends to fill constituent mailboxes with a taxpayer-financed appeal urging Californians to demand nearly $9 billion in energy price refunds from "greedy out-of-state power generators."
Senate leader John Burton (D-San Francisco) said the mailers will ask Californians to join the Senate and Gov. Gray Davis in insisting that the Federal Energy Regulatory Commission order the refunds of alleged overcharges.
Senate Democrats set the high target despite a federal mediator's ruling against Davis earlier this week. The mediator said California would be entitled to only about $1 billion in generator overcharges, not the $8.9 billion that Davis has fought for.
Senate officers said the cost of the mail campaign will be paid from the budgets of senators, at taxpayer expense, as part of the Legislature's constituent service mail program.
But Republicans attacked the mailer as political propaganda that may violate state law and Senate policy barring issuance of "partisan" documents at public expense.
Sketchy details of the quietly developed project surfaced on the Senate floor Thursday. Staffers who worked on it said it was virtually impossible to calculate the program's cost.
But they indicated that if all 26 Democrats agreed to send up to 30,000 mailers each to constituents, the postage alone would cost $140,400.
If each mass mailing exceeded 30,000 pieces, a higher postage rate would apply, raising the cost, officials said.
In the mailer, constituents are asked to return an attached card to their state senator, urging "full refunds of the outrageous prices charged by the greedy out-of-state power generators."
Cynthia Lavagetto, manager of the Senate mail program, said each member will decide what do do with the returned cards, including simply filing them or sending them on to FERC.
Lavagetto said a prototype mailer was prepared with the help of the Select Committee on Citizen Participation, a panel that has no chairman or members, since it has not been activated this year. But it does maintain an office and has three staffers on the Senate payroll.
Burton dismissed the Republican charges of partisanship as baseless. "We do this all the time on a variety of issues," he said. "We're saying, 'Stop stealing California's money.' "
But Sen. Ross Johnson of Irvine, the Senate's senior Republican, denounced the mailing as clearly partisan. He said it appeared to reflect a developing 2002 election strategy of Davis and Democrats to blame the FERC and out-of-state generators for California's energy mess.
"I seriously question the appropriateness of using taxpayer money to get people to lobby [for the refunds]," Johnson said.
Johnson and Sen. Ray Haynes (R-Riverside) suggested that Democrats turn their criticism to municipal utilities, including the Los Angeles Department of Water and Power. Some utilities charged the state even higher prices last winter than did private generators.
"Why are they not attacking the DWP?" Johnson asked.
He noted that S. David Freeman was running the DWP at the time some of its highest prices were charged to the state, which is buying power for California's financially crippled utilities. Later, Davis hired Freeman as his top energy price negotiator.
"Doesn't David Freeman more properly belong in that same jail cell as the guy called Spike than he does in the governor's office?" Johnson asked.
"Spike" has become a character in the California energy debate, thanks to Atty. Gen. Bill Lockyer, who is investigating whether power sellers engaged in price-gouging and antitrust behavior.
In an interview with the Wall Street Journal in May, Lockyer said he would "love to personally escort [Enron Corp. Chairman Kenneth] Lay to an 8-by-10 cell that he could share with a tattooed dude who says, 'Hi. My name is Spike, honey.' "

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

COMPANIES & FINANCE THE AMERICAS - Surging energy sales behind Enron advance.
By JULIE EARLE.

07/13/2001
Financial Times
(c) 2001 Financial Times Limited . All Rights Reserved

Enron, the US energy trader, yesterday posted a 40 per cent rise in second-quarter profits to $404m, due to surging gas and electricity sales in North America and Europe.
The Houston-based company also said it would continue to grow aggressively in Europe and seize any opportunities to expand in the US, after regulators on Wednesday ordered the formation of an organisation to open the North American electricity market.
Jeff Skilling, Enron chief executive, said the company had its sights set on Europe for strong earnings growth, which it hopes will eventually match North America.
The company's wholesale business unit, the group's main profit driver, derives 70 per cent of its business from North America.
"We see more growth opportunity in Europe than in North America. Gas volumes are up more than 100 per cent (in the quarter)," Mr Skilling said. "The gas and electric market in Europe is almost as big as North America and we got an early start."
Mr Skilling said a decision by the Federal Energy Regulatory Commission to order the formation of four grid organisations to optimise the transmission of electricity in parts of the US was hugely important.
He estimated only 20 per cent of the wholesale market for electricity could be accessed and the decision would take this to 90-95 per cent.
Mr Skilling said Enron, which has transformed itself from a pipeline company into a large energy trader, was focused on its volumes, not revenues, which jumped to $50.1bn in the quarter, from $16.9bn a year ago.
The only poor performer was the broadband division, which trades space on fibre-optic networks. The unit posted a loss of $102m in the quarter, against an $8m loss a year ago, and the company said it would cut costs there.
Enron's result of $404m, or 45 cents a share, compared with $289m, or 34 cents, in the same quarter a year ago.
Analysts had been expecting 42 cents a share.
By the close in New York, the company's shares were trading 45 cents higher to $49.55. See Lex.
(c) Copyright Financial Times Ltd. All rights reserved.
http://www.ft.com.

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

Lex - Enron.

07/13/2001
Financial Times - FT.com
(c) 2001 Financial Times Limited . All Rights Reserved

Be careful of the company you keep. Having enjoyed its status as a telecommunications play last year, Enron is now suffering with its new friends. The US energy trader has dropped by 40 per cent since the start of the year - underperforming the market by a third - despite the earnings momentum in its core energy trading business.
A 40 per cent increase in net income in the second quarter, even allowing for inevitable questions over earnings quality, is impressive. The strength of the energy trading business, with volumes up by almost 60 per cent, is more than enough to offset the misery in the broadband trading business.
However, the broadband division's $102m losses are shocking, even in these difficult times. The market has collapsed, partly owing to credit problems in the telecoms sector. Enron's cost base is completely out of kilter with the opportunity. At least it should not be too hard to put that right. Actual investment in assets is limited; and by reallocating staff to the fast-growing energy trading divisions, restructuring costs can be kept to a minimum.
Broadband is not the only worry. California's troubles have not affected trading volumes, but regulatory risk remains, while promises on asset sales have not been met. Trading on 23 times 2002 forecast earnings, the valuation looks fair for a fast-growing trading company. The upside lies in convincing investors to give the company more credit for its value-added risk management services. The long-term potential of broadband trading, meanwhile, is thrown in for free.
(c) Copyright Financial Times Group.
http://www.ft.com.

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

UK: Paladin says Enron sells entire stake.

07/13/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, July 13 (Reuters) - UK oil and exploration company Paladin Resources said on Friday that U.S. energy firm Enron had sold the whole of its 19 percent holding.
Enron, which was Paladin's largest shareholder, sold its stake of 40 million shares at 44 pence via HSBC.
A Paladin spokesman said the move would increase liquidity and broaden its shareholder base.

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

White House adviser targeted for dealings with Salvation Army
By RON FOURNIER
AP White House Correspondent

07/13/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

WASHINGTON (AP) - Senior White House adviser Karl Rove, increasingly a target of criticism from Democrats and Republicans, wound up at the center of a new storm over his dealings with the Salvation Army.
White House aides rallied to his side, and Rove was unapologetic. But Democratic National Committee chairman Terry McAuliffe called for congressional hearings.
"I think the truth needs to come out," McAuliffe said Thursday. "Let's have hearings and get to the bottom of this."
At issue was the Salvation Army's push for a regulation allowing religious charities to practice workplace discrimination against gays, and Rove's actions on behalf of the group. Rove said he was simply doing his job.
While McAuliffe called for hearings, Senate Majority Leader Tom Daschle, D-S.D., seemed less riled. "Karl Rove is a very respected individual and I wouldn't have any comment to make," Daschle said.
Thursday's flap was not the first for Rove, who oversees politics, strategy and public liaison at the White House.
When Sen. James Jeffords bolted the GOP and turned the Senate over to Democrats last month, Republicans accused Rove of alienating the Vermont lawmaker during the tax-cut debate. He was fingered, too, for not warning Bush earlier that Jeffords might jump ship.
When Rove sat in White House meetings on policy that could impact his stock portfolio, Democrats demanded to know whether his holdings with Houston-based Enron Corp. and Intel Corp. created a conflict of interest.
When Bush crossed some military advisers and suspended Navy bombing on the Puerto Rican island of Vieques, Rove's involvement in the case was held up as proof by critics that the decision was politically-motivated.
Rove's involvement in the Salvation Army case has stirred debate in Republican and Democratic circles about whether he wields too much power and is too political for the White House.
The White House rejected the Salvation Army's request Wednesday, but only after the revelation of an embarrassing Salvation Army memo. The memo said the administration had promised to issue a regulation protecting it and other religious charities from efforts to prevent such discrimination in exchange for the Salvation Army's support of Bush's plan to open government programs to religious groups.
White House officials left the impression that no senior officials were involved in the discussions, failing to point out Rove's activity until Thursday.
In a telephone interview, Rove said he recalled having just three or four brief discussions on the topic. He received a request from a Salvation Army ally to looked into the rule, sent the ally to the White House faith-based office, forwarded the written request to a government lawyer and was told later by the lawyer, "We're not certain there's anything we can do."
The lawyer, Jay Lefkowitz, told reporters the request lay dormant after his discussion with Rove.
Rove rejected the criticism. "My job is not to say, `Don't send me something or call me.' My job is to keep my eyes and ears open and send things to the appropriate departments," he said.
Some top Republicans outside the White House said Rove has become a lightening rod.
"Part of his role is to be a deflection shield for the president," said GOP consultant Rich Bond. "Everytime Karl takes a hit, it's one less hit the president has to take. Karl knows that and he is a big boy."
Aides say the president is not troubled by Rove's actions, even joking about the controversies.
White House chief of staff Andrew Card also defended Rove.
"I may be naive, but we have no problem of division on the senior level," said Card. "I was in the Reagan White House when we had three clear camps ... We don't have that here."
Aides do acknowledge, however, that there is some resentment of Rove in the lower ranks of the White House. Some grumbled that Rove did not let White House press secretary Ari Fleischer know Wednesday about his involvement in the Salvation Army case. Others, still tired from a tough campaign and frustrated by their new jobs, said they resent Rove's wide reach.

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

UK: Bidder list for Southern Water grows-report.

07/13/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, July 13 (Reuters) - More potential bidders have emerged that may challenge Italian utility ENEL for Southern Water, the British regional utility put up for sale by its parent Scottish Power Plc earlier this year, a trade magazine reported on Friday.
Utility Week said British gas and homes services retailer Centrica had teamed up with French utility Vivendi Environnement , which already owns UK water assets, "to consider a bid".
But it cited unnamed sources saying the German-owned investment bank WestLB Panmure, which was behind a management buyout of Southern Water's neighbour Mid Kent Water earlier this year, had "emerged as front-runner in the past week".
ENEL has said it is interested, and according to Reuters' industry sources Scottish Power's floor price is 1.7 billion pounds ($2.4 billion) excluding any attached debt.
Scottish Power said in March the business was for sale.
It needs the cash to help fund its own plans for expansion in the United States, where industry sources say it has held talks on buying Portland General, a power utility owned by Enron Corp , which neighbours the UK group's own PacifiCorp arm.

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

DPC not to re-start work on Phase II work
Our Regional Bureau NEW DELHI

07/13/2001
Business Standard
3
Copyright (c) Business Standard

Enron-promoted Dabhol Power Company (DPC) today said that Enron Corp chairman Kenneth Lay during his meetings with the Centre and the Maharashtra government had not agreed to any proposal to complete the construction of phase-II of the power project.
"Dabhol Power Company believes that a decision to recommence construction cannot be made unless various issues relating to the project are completely resolved," DPC said in a statement.
It said that any discussion that Lay had on recommending construction of phase-II was in the context of the current uncertainties surrounding the project.
DPC said that contractors working on the project resorted to termination due to non-payment of their dues as lenders had stopped disbursing funds.
"This decision was taken as a result of continuing defaults by MSEB (Maharashtra State Electricity Board), including MSEB's repudiation of the PPA, their failure to pay outstanding invoices and their stated unwillingness to accept phase-II power, as well as failure of the government guarantors to honour their payment guarantees," said the statement.
It added that the situation had not changed.

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

California Power Bills Exceed Refunds, Judge Says (Update4)
2001-07-12 21:40 (New York)

California Power Bills Exceed Refunds, Judge Says (Update4)

     (Adds legislator comment in sixth paragraph, details from
judge in 11th paragraph, negotiator comment in 12th paragraph.)

     Washington, July 12 (Bloomberg) -- California's debts to
power sellers for electricity purchases exceed any refund the
state can claim for alleged overcharging, a judge overseeing
settlement talks said in a report to federal regulators.
     California and its utilities may be owed more than $1 billion
on claims generators overcharged them, Administrative Law Judge
Curtis Wagner wrote in a report to the Federal Energy Regulatory
Commission. California alleges power sellers like Duke Energy
Corp., Enron Corp. illegally inflated prices by $8.9 billion.
     ``While there are vast sums due for overcharges, there are
even larger amounts owed to energy sellers'' by California and its
utilities, Wagner wrote. He said the state is owed ``hundreds of
millions of dollars, probably more than a billion dollars.''
     The decision strengthens the generators' claim that the
state's request for billions isn't supported by the facts. Energy
companies have offered a total of $716 million in refunds to the
state, Wagner said.
     FERC-ordered negotiations between the state and the energy
sellers broke down without an agreement this week. FERC will
decide on the size of refunds within 60 days. California Governor
Gray Davis has said the state will sue if it does not receive the
refunds it demanded.
     ``I find it unlikely that someone will not be unhappy enough
to go to court,'' said State Senator Debra Bowen, a Democrat from
Los Angeles. ``There's too much money at stake.''

                         Wagner's Report

     FERC will use Wagner's report to calculate the size of any
refunds. California could receive refunds in the form of credit
against power-buying debts. In his report, Wagner didn't say how
much the state and its utilities owe to power companies.
     ``Can a cash refund be required where a much larger amount is
due the seller? The chief judge thinks not,'' wrote Wagner, who is
FERC's chief administrative law judge.
     Wagner provided suggestions to the FERC commissioners on how
to set any refunds. He urged that they calculate potential
overcharges beginning October 2000. California had urged the
settlement be figured from May 2000.
     Davis criticized that decision, calling it ``a $3 billion
free gouge for the generators'' in a statement released by his
office.
     The judge said California had rejected a settlement offer he
made during the talks. He did not say what that settlement offer
was. He said California would not budge from its initial demand.
He also said California did not provide him some of the background
information he requested until this week.
     ``If we had more time we might have been able to respond more
quickly, but we did the best we could,'' said Michael Kahn,
chairman of the Independent System Operator, the state's electric
grid manager. He led the state delegation.

                    Heart of Dispute

     At the heart of the dispute are federal regulations that
require power sellers to charge only those rates deemed by federal
regulators to be ``just and reasonable.'' FERC had price caps in
place when some of the disputed power purchases were made.
     Energy companies claim that rising natural-gas prices and a
lack of adequate supply pushed prices up. The state accuses the
companies reaping unreasonable profits.
     Davis has made attacks on power generators a staple of his
response to the energy crisis, and has accused them of gouging the
state in dozens of speeches since January. He said that if the
state isn't paid $8.9 billion, it would sue for up to $20 billion.
     Energy executives accuse Davis and California political
leaders of attempting to scapegoat the energy companies for a
failed deregulation plan that led to soaring wholesale prices last
year. The state's largest two utilities can't pay for their power.
     ``It's pretty clear that the state has no particular interest
in resolving this,'' Enron Chief Executive Jeffrey Skilling said
in an interview with Bloomberg News. ``It makes for good political
fodder, and so I think they'll spend a lot of time making a lot of
noise about it.''
     Several other energy companies praised the judge's
recommendations.
     ``We agree with the judge's position that the $8.9 billion
refund number is totally unsubstantiated,'' Duke Energy Corp.
spokesman Tom Williams said.
     PG&E Corp.'s Pacific Gas & Electric and Edison
International's Southern California Edison, the state's largest
investor-owned utilities, ran up more than $14 billion in debt
buying electricity last year. The state stepped in and began
buying power for them in January, and has spent more than $7
billion.

California Governor Casts Blame for Crisis, to His Benefit
2001-07-13 03:03 (New York)

California Governor Casts Blame for Crisis, to His Benefit

     San Francisco, July 13 (Bloomberg) -- California Governor
Gray Davis's popularity is bouncing back, and pollsters credit the
Democratic lawmaker's campaign to blame the state's energy
problems on out-of-state power companies.
     Davis has criticized Duke Energy Corp., Enron Corp. and other
power sellers as price gougers since January. This week, Davis
used a power-plant opening as a platform to claim that energy
sellers are ``bleeding us dry.'' The Democratic state attorney
general and Democratic-controlled state Senate are investigating
the firms for market manipulation.
     The governor is winning support because of his attacks. A Los
Angeles Times poll in June showed that 86 percent of Californians
believed power generators distorted prices. Davis's approval
rating rose to 52 percent of registered voters in June, from 46
percent in early April, his lowest since being elected in 1998,
his pollster, Paul Maslin, found.
     ``Gray Davis is very good at licking his fingers and seeing
which way the political winds blow,'' said Bruce Cain, a political
science professor at the University of California at Berkeley.
``And he's found good villains.''

                    Outlook for Settlement

     The politics may make it harder for the state to reach a
settlement with energy companies for claims they overcharged the
state by $8.9 billion, analysts say. A federal judge overseeing
settlement talks said the state is owed far less. Davis says the
state will sue for $18 billion if its demands aren't met.
     ``There is no way you are going to get any kind of agreement
from someone making such audacious claims,'' said Donato Eassey,
an energy analyst at Merrill Lynch & Co. in Houston.
     The refunds may be secondary to Davis's effort to be re-
elected in 2002, a victory that political analysts say position
him as a contender for national office in 2004.
     ``He's in good shape going into 2002, and if he wins, there's
the inevitable speculation about whether he eyes a run for
president in 2004,'' Cain said.
     Just months ago, Davis's public approval ratings were at
their lowest point since he was elected, according to a Field
Institute poll in April.
     PG&E Corp.'s utility, the state's largest, was in bankruptcy.
Wholesale-power prices were rising, and millions of Californians
lost power in a string of blackouts caused by reduced power
reserves.

                         Governor Rebounds

     The governor was widely criticized for failing to act swiftly
to end the crisis. Now Davis seems to be recovering, analysts
said.
     While vilifying the power companies, the first-term governor
has also been spearheading the state's response to the energy
crisis. He has created a team to negotiate a financial rescue
package to save Edison International's Southern California Edison
utility from bankruptcy, started an $800 energy conservation drive
and pushed for more power plants to be built.
     The energy companies lashed back at Davis this week. A
spokesman for Enron Corp., the world's largest energy trader,
accused Davis and California leaders of conducting a political
``witch hunt.''
     ``The last thing they want to do is take responsibility for
the problem they created,'' Enron spokesman Mark Palmer said.
``They set about looking for the biggest villains.''
     Enron filed suit against a California state Senate committee
investigating allegations of market manipulation, accusing the
panel and its Democratic chairman in a letter of seeking a
``scapegoat'' for a failed deregulation law.

                   Plotting his Response

     Davis began plotting his response to the crisis almost
immediately after it became public in January, said Garry South,
his chief political strategist. Step one, Davis aides said, was to
blame the energy companies that were profiting from the state's
woes. Davis targeted a half-dozen companies. In addition to Enron
and Duke, Mirant Corp., Reliant Energy Inc., and Williams Cos.
were placed in the crosshairs.
     ``There was a group of perpetrators from out of state
manipulating this system and screwing consumers,'' South said.
``We had to explain how this thing happened.''
     Republicans criticize Davis for inaction on the crisis, while
acknowledging he is favored to win re-election going into next
year's campaign.
     He leads three potential rivals -- Secretary of State Bill
Jones, banker William Simon, the son of former Treasury Secretary
William Simon, and former Los Angeles Mayor Richard Riordan,
according to the Times poll of 1,541 state residents conducted
June 23-26.
     ``He will be the favorite,'' said Rob Stutzman, a consultant
for the California Republican Party.

                         Worries Ahead

     Davis still has worries as the state struggles to address the
energy crisis, analysts say.
     PG&E Corp.'s Pacific Gas & Electric filed for bankruptcy in
April. Edison International's Southern California Edison, the No.
2 utility, is struggling to overcome legislative opposition to the
financial-rescue package negotiated by Davis.
     Davis may be blamed, analysts say, if the state Legislature
refuses to ratify the rescue plan for Edison and the utility files
for bankruptcy. Republicans and many Democrats in the Legislature
oppose the agreement, known as a memorandum of understanding.
     ``The MOU's dead, and the likely scenario is for the utility
is to go into bankruptcy,'' said Peter Navarro, an associate
professor of economics and public management at the University of
California at Irvine.
     California voters may receive unpleasant reminders of the
crisis all summer. The state has already suffered through six days
of rolling blackouts, and more are predicted.
     ``As soon as the lights go out, it's Gray's fault,'' Navarro
said.


sorry, yes it is the same.

You're killing me. We have no definition for first contingency must run. Is
this the same as First Contingency Emergency Dispatch?

HELPPPPPP.

ckm

From: Reagan Rorschach/ENRON@enronXgate on 05/31/2001 11:08 AM
To: Kay Mann/Corp/Enron@Enron, David Fairley/ENRON@enronXgate
cc:

Subject: RE: MDEA Agreement Scheduling

Please fill in the blank:
&First Contingency Transmission Outage8 means [Rorschach, Reagan]  an Entergy
transmission constraint that from time to time results in a transmission cut
and mandates Clarksdale dispatching their generation assets to serve
Clarksdale Native Load.
Our obligation during such an event:  During first contingency must run
conditions, EPMI will document the production costs, megawatts generated,
duration of the event, and lost opportunity costs.

From: Reagan Rorschach/ENRON@enronXgate on 05/31/2001 10:37 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: MDEA Agreement Scheduling

I'm still waiting on David Hunt to send me some stuff, which would really
help move the document along.  I'll ask again if i can get it from him. There
are still internal questions in it, which I have annotated. I'm happy for you
to look at it fairly shortly, especially if you can give definitive
commercial direction.

Do you feel that the commercial team is  finished with the exhibits?  I
haven't worked on them, but I suspect the exhibits need work.  I know the
bogey calc doc is a bit rough. [Rorschach, Reagan]  Exhibits are rough.  I
need to make a list of Exhibits called out in the current doc version, pull
them all together, and clean them up.

Do you still owe me the emergency transmission cut stuff? [Rorschach, Reagan]
  Yes.  I am not exactly sure of the context....but try this on for size:
Clarksdale is subject to an Entergy transmission constraint that from time to
time results in a transmission cut and mandates Clarksdale dispatching their
generation assets to serve Clarksdale Native Load.  Dispatching Clarksdale
assets under these circumstances is known as the first contingency must run
condition.  During first contingency must run conditions, EPMI will document
the production costs, megawatts generated, duration of the event, and lost
opportunity cost of buying from the market.  Clarksdale is due reimbursement
from Entergy for extra costs incurred during such events.

Early next week is better than later, and Thursday and Friday are huge
problem days for me.  When are you thinking of meeting with Beck?  Anyway to
combine the two at once, given the short timeframe? [Rorschach, Reagan]  I
think we could get everyone together at the same time as soon as Monday.  I
want them to have the time to study the document so we can get it all done at
once.

Has Dave signed the extension, by the way? [Rorschach, Reagan]   done,
fedex'ing to MDEA.  Will have faxed copy today.

Kay

From: Reagan Rorschach/ENRON@enronXgate on 05/31/2001 09:59 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: MDEA Agreement Scheduling

Kay,

We are starting to run into some scheduling constraints for next week, at
least with Bob Priest.  I'd like to get together with Bob and Marvin early
next week to discuss the agreement--moving toward finalizing before June 12.
Bob is only available Monday.  Bob and Marvin think it is a good ideal to
then meet with RW Beck.

I'd like to email Marvin and Bob the next version sometime today?

Reagan C. Rorschach
Enron North America
1400 Smith Street
Houston, Texas 77002
713.345.3363


9/8  9/7  diff

Socal  36,600  37,200  -600

NWPL  -51,000  -51,250  250

San Juan -32,500  -32,000  -500

The reason the benchmark report shows net selling San Juan is that the
transport positions were rolled in on 9/8.  This added 800 shorts to San Juan
and 200 longs to Socal.  Before this adjustment we bought 300 San Juan and
sold 800 Socal.