Just to pile on with the issues, I will add a few thoughts of my own for
issues that we might want to consider in our November 20 comments.
Re: the application of the price cap to only PX and ISO, Commissioner Massey
is not totally on board.  He specifically asked about capping the forward
market.  He raised the idea that he had gotten from the San Diego hearing
that there be an accepted forward contract for a specified timeframe (18-24
months) and specified rate, and that all loads must buy a minimum percentage
of their needs from this contract.
A staffer (Don Gelinas) asked whether the forward/bilateral market
(presumably uncapped) could take care of investment recovery so that
generation not be cancelled in California.
Dynegy and other marketers raised the issue of the test to be used by the
Commission in reviewing transactions above the soft cap.  Specifically, what
is opportunity cost?  As long as the test is not known until after the fact,
there will be lack of secuity selling into the California and greater
incentive to sell elsewhere.
Hobbs from Williams raised the possibility that if the Commission does not
eliminate the soft cap (his preferred approach), that the cap should be
temporary and escalating and there should be limited time for raising issues
and retaining the refund liability (he suggested that the refund liability be
only for one month).
Many, especially the utilities, raised their position that the Commission
should not institute penalties only on the load.  They claimed this was
one-sided and suggested if penalties were required, they needed to be applied
to the supply side as well.  They also argued that the load could not meet
the 5% test.
Massey had a concern at the end of the day that the Commission's
encouragement of forward contracts will be stymied by the CPUC by their
authority in reviewing prudence of the utilities' purchases.
Larcamp asked at the end of the day for information on the cost of generation
before deregulation - normalized for gas prices and emmission prices of
today.  The marketer on the panel added that we would need to include
stranded costs.
There was almost no support for the single price auction in California.
The California politicians argued that the ISO Board structure needed to be
changed, but that California had jurisdiction to change it, not FERC.  A
Court battle was threatened.

	Steven J Kean
	11/13/2000 08:51 AM

		 To: Mary Hain/HOU/ECT@ECT
		 cc: Richard Shapiro/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/SFO/EES@EES, Joe Hartsoe/Corp/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON, Paul
Kaufman/PDX/ECT@ECT
		 Subject: Re: Comments on FERC November 1 order

There are a few other issues we need to look into:

Larcamp told Hartsoe and I after the meeting that FERC may clarify that the
price caps and reporting obligations apply only to bids into the PX and ISO
-- ie no bilateral transaction will be subject to the requirements.  He asked
if knowing this would change any of our views (esp peaking plants, though I
suspect it's already too late for that).  My gut reaction is that so long as
the market continues to clear through the centralized exchanges this
"exemption" for bilateral transactions won't matter much, but let's think it
through.  Is EOL or APX an alternative?
Massey specifically asked us to address forward markets in our comments.
Specifically, "has FERC done everything it can to encourage forward market
development?"  In addition to any other points we might make, I think we
should argue that "PJMing" the market won't facilitate and may even hinder
forward market development.  Also, we should advocate actions by FERC that
take away second-guessing by the CPUC in order to reduce utility fears about
contracting forward.
We have to give the Commission a way out on price caps.  We need to think
through whether there is something we can live with here, or we should take
the approach I took in my testimony:  FERC should encourage the state to
provide rate protection for selected customer classes by putting those
requirements up for bid (ie get the utility out of the commodity business as
much as possible).
Finally, on governence issues we should argue for a narrowe role for the ISO
as a way of diffusing the emotional governence debate.  Analogy:  if the ISO
is simply the air traffic controller all parties will simply be interested in
retaining the most technically competent people (not hiring or appointing
their lackies or friends).  So long as the ISO has a role in setting prices,
acquiring supplies or running the market, it is destined to be controversial
and highly politicized.  Those functions should be left to the market.

	Mary Hain@ECT
	11/10/2000 11:13 AM

		 To: Steven J Kean/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron
		 cc:
		 Subject: Comments on FERC November 1 order

---------------------- Forwarded by Mary Hain/HOU/ECT on 11/10/2000 09:20 AM
---------------------------
________________________

To: Christian Yoder/HOU/ECT@ECT, steve.c.hall@enron.com, Richard Sanders,
Susan J Mara/SFO/EES@EES, Mona L Petrochko/NA/Enron@Enron,
jdasovic@ees.enron.com, Paul Kaufman/PDX/ECT@ECT, James D
Steffes/NA/Enron@Enron, Joe Hartsoe@Enron, Sarah Novosel/Corp/Enron@ENRON,
James E Keller/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Harry
Kingerski/HOU/EES@EES, Dennis Benevides, Tim Belden/HOU/ECT@ECT, Robert
Badeer/HOU/ECT@ECT, Jeff Richter/HOU/ECT@ECT, Alan Comnes/PDX/ECT@ECT, Steve
Kean, Richard Shapiro, Tim Heizenrader/PDX/ECT@ECT
cc: carrrn@bracepatt.com, dwatkiss@bracepatt.com
From: Mary Hain/HOU/ECT
Date: 11/09/2000 05:19:03 PM
Subject: Comments on FERC November 1 order

For purposes of our discussions, Alan and I have put together an outline of
issues raised in the FERC meeting today that we might consider putting in our
comments to FERC.  Our written comments would also include the issues we have
already raised in our white paper and our oral comments at FERC.  Of course
to the extent we have discussed things in our white paper we could simply
cite the paper.  Given the potentially long list of issues to be addressed, I
haved left a voice mail asking Seabron if he is available to help Alan.


Please click below for access to the Weekly Reports for last week. You may select either Weekly State Report (Lon Stanton's report) or the Weekly Regulatory and Legislative Affairs Report.

http://gpgdomino.ots.enron.com/QuickPlace/ferc/Main.nsf/h_Toc/A275772365A239B286256A3F006CB023?OpenDocument


John, we just received an invoice from the above company for an electronic tagging service agreement that Bill Greenizan had executed last year.  It is to renew the ETS agreement for an additional one year commencing March 10, 2002 and is in an amount of US$3,000.  I am unsure what the purpose is of the agreement and whether ECC or UBSW need to continue it.  Can you let me know what we should do with the invoice and agreement?

Thanks
Greg


Here is your Guaranty.   Have them sign two letters and attach copies of the
original Gty as Exhibit A.

Call me if you have any questions.

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


OK with me - go ahead and prepare final version and then Joe and I will meet with EPMI to traders.  Thanks

	Richard Ring@EES 05/15/2001 03:39 PM 	  To: Elizabeth Sager/HOU/ECT@ECT  cc: Joe Gordon/Enron@EnronXGate  Subject: Re: EESI & EPMI Confirmation Agreement (NYSEG PJM Renewable Attributes)

Elizabeth,

EESI would like to add the following to your revised Confirmation Agreement (red text only):

Special Conditions, paragraph (2) subparagraph (iii) shall be modified as follows:

"(iii) that any remedy that EESI may have against EPMI under this Transaction is limited by the remedy actually obtained by EPMI under the NYSEG Transaction (unless EPMI shall have failed to pay any uncontested amounts due and owing from EPMI to NYSEG under the NYSEG Transaction or EPMI shall have failed to deliver the Attributes received from NYSEG to EESI, in which case EESI shall have a claim against EPMI for the replacement value of the Attributes not delivered to EESI)"

If the above referenced change is acceptable please forward to me a revised Confirmation Agreement.

Regards,

Richard

From:	Elizabeth Sager@ECT on 05/15/2001 02:59 PM
To:	Richard Ring/HOU/EES@EES
cc:	Joe Gordon/Enron@EnronXGate
Subject:	Re: EESI & EPMI Confirmation Agreement (NYSEG PJM Renewable Attributes)

Here are proposed revisions.  Give me a call after you have reviewed. Thanks

	Richard Ring@EES 05/15/2001 09:07 AM 	   To: Joe Gordon/Enron@EnronXGate, Elizabeth Sager/HOU/ECT@ECT  cc:   Subject: EESI & EPMI Confirmation Agreement (NYSEG PJM Renewable Attributes)

Joe & Elizabeth,

I received the revised document from Will Frederking, EESI Legal which is attached for your reference.  The only items that have been changed are in Special Conditions:
Second Sentence was divided into four parts (i), (ii) (iii) & (iv)
Ninth line "or representations" was added after the words "any Affidavits"
Sixteenth line "upon written request from EESI" was added after the words "between NYSEG and EPMI, and"

Joe,  my proposal for Contract Price section is to complete with $3.65 / MWh.

Will provide the payments, billing and notices information as soon as I receive from EESI Legal Department representatives.

Let me know what you think.

Regards,

Richard

---------------------- Forwarded by Richard Ring/HOU/EES on 05/15/2001 08:57 AM ---------------------------

William Frederking
05/14/2001 06:12 PM
To:	Richard Ring/HOU/EES@EES
cc:
Subject:	NYSEG

Attached is a clean version of the EPMI Confirmation Letter.  I was unable to run a blackline.  We can try again tomorrow if we need to.  Please help with the notice info on the last page.

Will

<Embedded StdOleLink>
<Embedded StdOleLink>


Nony-

Please see Marie's note below and respond to the questions.

Thanks,

John

 -----Original Message-----
From: 	Heard, Marie
Sent:	Monday, November 26, 2001 1:09 PM
To:	Viverito, John
Subject:	FW: Master Netting Agreement Assignments

Hi, John:

Can you answer Athena's questions re Navajo?

It you want to just respond to me, I'll include it in my response re Louis Dreyfus.

Thanks!

Marie

 -----Original Message-----
From: 	"Athena Alexander" <Athena.Alexander@cwt.com>@ENRON
Sent:	Monday, November 26, 2001 12:18 PM
To:	Heard, Marie
Subject:	Re: Master Netting Agreement Assignments

Hi, Marie, hope all is well.  In order to complete our conflicts checks on
two counterparties, we need answers to the following questions:  (1)
Exactly which Navajo and Louis Dreyfus entities/subsidiaries will be
involved in the Master Netting Agreements?  (2) Is the Louis Dreyfus on
your list the same as the Dreyfus Corporation?  (3) What is the main
business address for Navajo?  Thanks and please call with any questions.

Best Regards,
Athena

                    "Heard,
                    Marie"               To:     "Aronowitz, Alan"
                    <Marie.Heard@        <Alan.Aronowitz@ENRON.com>,
                    ENRON.com>           "Athena Alexander (E-mail)"
                    Office:              <athena.alexander@cwt.com>,
                                         "Clark, Morris"
                    11/19/01             <Morris.Richard.Clark@ENRON.com>
                    06:18 PM             , "Cook, Mary"
                                         <Mary.Cook@ENRON.com>, "David
                                         Mitchell (E-mail)"
                                         <david.mitchell@cwt.com>,
                                         "Davis, Angela"
                                         <Angela.Davis@ENRON.com>, "Del
                                         vecchio, Peter"
                                         <Peter.Del.Vecchio@ENRON.com>,
                                         "Diane Dickensheid (E-mail)"
                                         <diane.dickensheid@cwt.com>,
                                         "Dobin, Nora"
                                         <Nora.Dobin@ENRON.com>,
                                         "Douglas, Stephen H."
                                         <Stephen.H.Douglas@ENRON.com>,
                                         "Evans, Mark (London Legal)"
                                         <mark.evans@enron.com>,
                                         "Gaffney, Chris"
                                         <Chris.Gaffney@ENRON.com>,
                                         "Gray, Barbara N."
                                         <Barbara.N.Gray@ENRON.com>,
                                         "Hansen, Leslie"
                                         <Leslie.Hansen@ENRON.com>,
                                         "Heard, Marie"
                                         <Marie.Heard@ENRON.com>,
                                         "Hendry, Brent"
                                         <Brent.Hendry@ENRON.com>,
                                         "Hodge, Jeffrey T."
                                         <Jeffrey.T.Hodge@ENRON.com>,
                                         "Johnston, Greg"
                                         <Greg.Johnston@ENRON.com>,
                                         "Jones, Tana"
                                         <Tana.Jones@ENRON.com>,
                                         "Keohane, Peter"
                                         <Peter.Keohane@ENRON.com>,
                                         "Koehler, Anne C."
                                         <Anne.C.Koehler@ENRON.com>,
                                         "Lech Kalembka (E-mail)"
                                         <lech.kalembka@cwt.com>, "Leite,
                                         Francisco Pinto"
                                         <Francisco.Pinto.Leite@ENRON.com
                                         >, "Marissa Morelle (E-mail)"
                                         <marissa.morelle@cwt.com>,
                                         "McCullough, Travis"
                                         <Travis.McCullough@ENRON.com>,
                                         "Mellencamp, Lisa"
                                         <Lisa.Mellencamp@ENRON.com>,
                                         "Murphy, Harlan"
                                         <Harlan.Murphy@ENRON.com>,
                                         "Murray, Julia"
                                         <Julia.Murray@ENRON.com>,
                                         "Nemec, Gerald"
                                         <Gerald.Nemec@ENRON.com>,
                                         "Portz, David"
                                         <David.Portz@ENRON.com>, "Rick
                                         Antonoff (E-mail)"
                                         <rick.antonoff@cwt.com>,
                                         "Rohauer, Tanya"
                                         <Tanya.Rohauer@ENRON.com>,
                                         "Sager, Elizabeth"
                                         <Elizabeth.Sager@ENRON.com>,
                                         "Saxena, Rahul"
                                         <rahul.saxena@enron.com>,
                                         "Sayre, Frank"
                                         <Frank.Sayre@ENRON.com>, "Schuh,
                                         Michael"
                                         <michael.schuh@enron.com>,
                                         "Shackleton, Sara"
                                         <Sara.Shackleton@ENRON.com>,
                                         "Simons, Paul"
                                         <paul.simons@enron.com>, "St.
                                         Clair, Carol"
                                         <Carol.St.Clair@ENRON.com>, "Van
                                         Hooser, Steve"
                                         <Steve.Van.Hooser@ENRON.com>,
                                         "Viverito, John"
                                         <John.Viverito@ENRON.com>, "Von
                                         Bock Und Polach, Marcus"
                                         <marcus.von.bock.und.polach@enro
                                         n.com>, "Williams, Jason R
                                         (Credit)"
                                         <Jason.R.Williams@ENRON.com>
                                         cc:
                                         Subject:     Master Netting
                                         Agreement Assignments

Attached is the updated list of master netting agreement assignments.

           <<master netting agreement assignments.doc>>

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

==============================================================================
NOTE:  The information in this email is confidential and may be legally privileged.  If you are not the intended recipient, you must not read, use or disseminate the information.  Although this email and any attachments are believed to be free of any virus or other defect
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==============================================================================

 - master netting agreement assignments.doc << File: master netting agreement assignments.doc >>


Susie,

Yes, you have been missed at the last couple of events!  I hear you have
your head burried in Enron.  No fun!!!!  I hope that you are getting paid
overtime or compensated in some way for all of your efforts!

Things have been going really great here - still planning for the wedding
and trying not toget too anxious and enjoy all of the engagement time!  The
shower was fun to get Christmas stuff - unfortunately, most of it is packed
up in boxes because I wanted to save it for next year (the 1st).  Some
stuff though, I just couldn't help it.  About all of this football stuff -
thank goodness the season is nearing a finale.  The weekend trips were
gettting a little intense.  We have to go to a wedding on the 29th, so not
sure what he is going to do for the game.  Supposedly Boyd is going to the
wedding too and they are going to sneak to the hotel bar to catch a
glimpse.

My family is doing great!  I just heard word that my brother is coming in
the entire week before the wedding so we can hang out and he is coming for
the engagement party!  (They recently moved to Philadelphia and are not
coming home for Christmas, so whenever I hear of him coming, I get so
excited!)

Good luck with all of your stuff - don't miss Christmas!  :o)

Love you and I miss seeing you!!!

Love, Lisa

<Susan.M.Scott@enron.com> on 12/12/2000 09:56:37 AM

To:   jkbowles@hotmail.com, JesPulliam@aol.com, Lisa.A.Meador@chase.com,
      emily.boon@msdw.com, edrington@uthscsa.edu
cc:
Subject:  Hi girls...

As it appears I will be living and breathing the 32nd floor of the Enron
building well through the first of the year, I've decided to break down and
try to maintain my friendships via email.  You all know me well enough to
know that this a huge step on my part ( I am not the world's best emailer).
Anyway, I feel like I'm out of touch with what's going on in your
collective lives and am thus missing out on some pretty wonderful, exciting
and special things.  So when and if any of you get a chance shoot me back a
quick note and let me know what's new in your life.

Love you guys,
Susan

Jennifer - Hope work is going well.  I know this time of year has got to be
crazy for anyone in your line of work, but I'm sure you're handling it
well.  We really need to go grab coffee, dinner, a movie or something soon.
I'm in need of a good chat.

Jessica - I know you're in the midst of finals right now and probably about
to pull your hair out.  Just focus on the fact that they'll be over soon
and you'll be off to London to see Ashley and Lee ( I am so jealous).
Please tell Clay I say hello and wish him good luck as well on y'alls
exams.

Lisa - Hey sweetie!  I am so sorry I couldn't make it to your shower in SA,
but Jen said it went really well.  We need to get together soon I've missed
seeing you and especially hearing about the wedding and all the fun goings
ons in your life.  Tell Brad I say "Hi" and I'll be glued to the TV set
just like him on the on the 29th rooting on the Horns.

Emily - I really want to hear how your Thanksgiving went with Thomas and
the "Fam".  Knowing Thomas it went great and your entire family (especially
your Mom) is absolutely in love with him.  Keep me posted on your plans for
the future ( I'm curious where you're going to end up geographically).
Also, I thought you'd find it interesting that I may have an opportunity to
work in your old hometown - Chicago.  Any thoughts?

Elizabeth - I have really been out of touch with you and I am very mad at
myself for letting that happen.  Please write back soon and let me know how
school, your family and this new man in your life ( okay, I'm not
completely out of touch) are all doing.  My guess is you're going through
exams as well right now so I'll wish you the best of luck and infinite
success.


The following TBS stations are in history or not scanning. This is do to the RTU's are Bristol units and the batteries are low. The Waterloo Field Team has a project submitted to install solar panels to keep the batteries charged. They are currently recording flow rates with chart recorders.

Clarence IA
Mechanicsville
Mount Vernon, Iowa
Dysart IA
Central City, Iowa TBS
Vinton, Iowa TBS #1

Contact Person: Mark Rollins (Waterloo Field Team)
Houston SCADA support: Don Montgomery


Once again, Enron employees showed their generosity.

Thanks to everyone who participated in the March of Dimes Raffle, we raised
over $1,750.

The Big Winners in the raffle were:

 Mary Anne Miller - Airline tickets
 Cindy Stark - Compaq PA Personal Audio Player
 Mary Vollmer - Urban Retreat Gift Certificate
 Ben Nguyen - Four Astros Tickets
 John Chang - Four Astros Tickets
 Betty Keenan - Barrington Roller Pen
 Bob McAuliffe - Cutter & Buck Polo Shirt
 Kimberly Nelson - Zippered Portfolio
 Karon O,Gorman - Desk Clock
 Tammy Kovalcik - Laptop Carrying Case
 Lisa Gilchrist - Laptop Carrying Case
 Sharon Farrell - Laptop Carrying Case
 Scott Churbock - Laptop Carrying Case
 Argelia Vallejo - Laptop Carrying Case
 Mike Millwee - Microsoft Office 2000 Professional Software
 Stacy Holtzman - Microsoft Visio2000 Technical Edition Software

Thanks again for supporting March of Dimes!


- 12-12-2001.xls


Ben, please find attached below the preliminary O&M cost estimate for O&M
services to mobilize and operate the 4 x LM6000 peaking facility to be
situated at an existing UAE cogen plant in Lowell, Mass.   It assumes some
allocated costs for common facilities, operating/admin expenses and staff at
the UAE plant to be added to the incremental expenses that are estimated to
occur as a result of the plant addition. Please review it and consider its
accuracy to be +/- 25%. Call if you have any questions.
---------------------- Forwarded by Scot Chambers/ENRON_DEVELOPMENT on
02/16/2000 12:06 PM ---------------------------

Scot Chambers
02/15/2000 08:09 PM
To: Mark Dobler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tom
Callaghan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Ehler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mitch
Robinson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John W
Cates/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard
Bickings/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Lowell, MA O&M Estimate

Please review the attached O&M estimate for the Lowell, Massachusetts 4 x
LM6000 peaking facility to be situated at an existing UAE cogen plant. UAE
will own and operate the plant and ENA will have option on the output for
about 3 to 5 years. The O&M cost estimate shown assumes the hire of 2 O&M
techs to cover the LM6000 plant for the 2 peak period shifts. Current staff
at UAE plant is reported as 7 total (including admin) which seems low for a
cogen, so I've shown the addition of 2 techs. It assumes an allocation of
some existing labor and admin/operating costs from the existing plant, but in
no case is the "annual total" for the fixed costs more than 1/2 of what we
could do it for ourselves if it was "stand alone". Maintenance and chemicals
are shown as variable. The fees are shown for what we used for the Wilton
Center Expansion ($40M - Mob; $80M - Annual Ops).

thanks, Scot


The old build route remembered what the user chose last for delivery points, and had it in the defaults each time Build route was opened.

Can this be duplicated in the PSW version of build route?

C


-----Original Message-----
From: 	Winfrey, Travis
Sent:	Wednesday, September 05, 2001 11:02 AM
To:	Port, David
Cc:	Mckillop, Gordon
Subject:	FW: Raptor Position Report for 8/31/01

Per your request, attached are the most recent Raptor models.

Travis Winfrey
5-8404

 -----Original Message-----
From: 	Winfrey, Travis
Sent:	Tuesday, September 04, 2001 6:37 PM
To:	Yaeger, Anne; Mckillop, Gordon; Erwin, Jill; Bharati, Rakesh; Thomason, Ben; 'Felicia Frank (E-mail)'
Subject:	FW: Raptor Position Report for 8/31/01

 -----Original Message-----
From: 	Winfrey, Travis
Sent:	Tuesday, September 04, 2001 6:37 PM
To:	Baker, Ron; Buy, Rick; Causey, Richard; Faldyn, Rodney; Fastow, Andrew; Glisan, Ben; Kopper, Michael; Mckean, George; Schnapper, Barry; Siurek, Ryan
Subject:	Raptor Position Report for 8/31/01


Bob -

Consistent with your request, I have made some general revisions to the form
BETA.  These revisions revolve around the concept approved by Andy whereby
Enron is willing to allow the Broker to be absolved of responsibility for a
"busted" deal at such time as the Broker has provided Enron with the
verification of the Execution required under the agreement and Enron has yet
to obtain an actual confirmation (either in writing or by performance) from
the Participant/Counterparty.

I have modeled the provisions after the suggestions originally made by Amerex
and moved a few of the provisions around in order to accommodate the
changes.  If these changes are acceptable, I will then embark on preparing
amendment documents for the five current customers.  Since each of the BETA's
for these customers vary a bit from the base form, the amendment documents
will have to be customized to address each agreement independently.

Please take a look at the attached and let me know your thoughts.

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


Here is one option.  The problem would be getting him picked up when I'm out
of town.  Charlotte might be able to help.  Also, there's the Presby church.
I wonder if SOTW has something.  He might enjoy a visit.

I just got to work and got my computer up and going.  Yes, the whole ordeal
was 1 1/2 hours.

ckm
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/25/2001 09:24
AM ---------------------------

	From:  WorkLife Department and Kidventure
01/24/2001 11:00 PM

Sent by: Enron Announcements
To: All Enron Houston
cc:

Subject: Kidventure Camp


Russell has inquired as to whether or not  the fully executed agreement has
been sent to Heartland as they have not received same.

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


Hi Tana Jones

Here ya go

 -----Original Message-----
From:  Jones, Tana
Sent: Tuesday, March  27, 2001 5:31 PM
To: Allario, John
Subject: Totality Corp. NDA

We haven't heard anything on this NDA, have you?


I apologize for not getting our January calendar out.  I didn't even think
about it until the 15th.  But I'm back on track and ready to complete the
February calendar.  Please send me any dates you plan to be out of the office
during the month of February.  I hope to have the calendar distributed on
February 1st.  Thanks for your help.

Pat


I had Devon put together a resume for you to get an idea of his experience to
date. He's not our typical MBA Associate, but I feel he has great potential
as a junior trader.  I'll call you later to discuss. Per

---------------------- Forwarded by Per Sekse/NY/ECT on 11/10/2000 04:07 PM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Devin_Burnett@PECHINEY.COM                           11/10/2000 02:17
PM

To: psekse@ect.enron.com
cc:
Subject:

hope this is better.
its best if i speak to who ever i need to outside of the office when i can
speak a little more freely ie after 5:30 i stuck my mobile # on it

(See attached file: DKB CV.doc)

 - DKB CV.doc


Dinner at Founder's Box Area in the Wortham - need tickets to get in/Ballet starts at 7:30 p.m.


My message was sent before I finished it.
I think it would be interesting to focus your attention on this interplay
--  what policy changes have meant to companies (ie the winners and losers)
and how explicit companies are about how government policy drives their
business strategy in these industries.  I also think it would be fascinating
to compare regulators' visions for the industry they are restructuring with
the reality after the fact.  I believe you would find some similarities but
also some substantial and interesting differences.
Good luck with your studies.
My best regards to Mike; I learned a great deal working for him.

Rob Wilson@ENRON
07/24/2000 04:44 PM

To: Steven J Kean/HOU/EES@EES
cc: Mike McGowan/ET&S/Enron@ENRON
Subject: Doctoral studies

Steve,
Vince Kaminski suggested I contact you, I'm the Gov't Affairs rep for NNG in
Omaha and begin a doctoral studies program this fall at NU. I plan a research
emphasis in regulatory politics, specific to energy and telecom market
convergence and the public interest. I'd welcome any advice or suggestions
you have regarding other potential area's of research, based on your
professional experience in the public policy arena.

I appreciate any guidance, I'm in the earliest stages of forming my advisory
committee and curriculum of study. My supervisor, Mike McGowan, sends his
regards.


As with any pearl, and in your case, enough has been said.  Given everything,
else don't fret over this one. I have already enough ammo.


Due to name corrections and by request, the following short names will be
changed in GCP tomorrow, December 6, after 1:p CST.  The changes to the legal
names were made on the dates indicated.

If there is any objection, please let me know.

Thanks,

Cheryl x3-3103


Enron announces UNLIMITED discounted AstroWorld tickets for employees.

Due to overwhelming employee feedback, we have negotiated unlimited
discounted AstroWorld tickets for you and your family in place of the
traditional "Enron Day At AstroWorld."  We hope this will allow Enron
families to plan their fun-filled summer trips to AstroWorld at their own
convenience.  Enron AstroWorld tickets are $20.56 (Retail $50), which
includes admission for one, plus a $7 meal ticket to one of five restaurants
at AstroWorld.

Six Flags AstroWorld is a world-class family entertainment complex filled
with exciting rides and attractions, including 10 heart-pounding coasters,
over  40 blockbuster shows, interactive street entertainers and star-studded
concerts.  Enron families will be able to purchase unlimited tickets for use
anytime during the 2001 season.

Tickets will be on sale at Enron's Federal Credit Union, EB0399.  Visit the
credit union in person to make your purchases.  AstroWorld tickets will not
be mailed.  Enron employees who are not already Enron FCU members may pay by
cash or money order only.  All Enron Employees are encouraged to take
advantage of this great summer fun deal and may purchase tickets through
August 30th.


Thought you might appreciate this.

Doug

Douglas A. Leyendecker

Leyendecker & Associates
713-862-3030
http://www.leyendecker.com


Revised Gas floor plan

 -----Original Message-----
From: 	Shepperd, Tammy R.
Sent:	Monday, January 28, 2002 2:41 PM
To:	Neal, Scott
Subject:	6th floor plan

Here was the last working doc.

Thanks much!

 << File: 6th floorplan 01.22.xls >>


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-----Original Message-----
From: 	Shively, Hunter S.
Sent:	Thursday, January 31, 2002 4:31 PM
To:	Gorny, Vladimir
Subject:	P&L responsibility

P&L Responsibility

Midcontinent Region

Andy Lewis - Basis and Gas Daily
                    PEPL, ANR-ok, NNG-Demarc, NNG-Vent, NGPL-midcon

Jason Williams - Cash trading and index
                    PEPL, ANR-ok, NNG-Demarc, NNG-Vent, NGPL-midcon

Market Area

Hunter Shively - Basis and Gas Daily
                        Chicago

Geof Storey - Basis and Gas Daily
                    Michcon and Dawn

Vladi Pimenov - Cash trading and Index (no VAR)
                        Chicago

Souad Mahmassani - Cash trading and Index (no VAR)
                                Michcon and Dawn


Does this project have another name?  I'm not familiar with Fountain Valley.
Is this the same as PSCO?

Kay

Ed Dannhaus@ENRON_DEVELOPMENT
11/20/2000 10:28 AM
To: Kay Mann@ENRON
cc: Chris Booth@ENRON, Jeff G Slaughter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Fountain Valley Power Project
Revised GE order for two additional exhaust stacks

Where do we stand in issuing the change order for two additional exhaust
stacks for the Fountain Valley Power Project?????


Following up on my previous e-mail regarding ABX 128, I now expect it to
include the following provisions.

1.  The tax will be on excess gross receipts from electrical energy
distribution.
2. The tax will be imposed on the person making the first sale of
electrical power in or into CA for consumer consumption.
3. The tax will be based upon the amount by which the gross receipts
from the sale exceed the amount that would have
been received if the sale had been made at a specified "base price" (to
be determined by the PUC).
4.  There will be a rebuttable presumption that the base price
represents afair sales price.
5.  There will be a withholding mechnism of this excess tax from the
purchasers, other than purchasers who are residential
consumers or small business users.
6.  It will require sellers to file annual tax returns to report the tax
on excess gross receipts and pay any remaining taxes
due.
7.  It will allow sellers to file a claim for refund in an attempt to
rebut the presumption that the base price was a fair sales
price.
8.  Provide certain nexus standards to California to provide the basis
to impose tax liability.
9. Include a 5-year sunset date.


Executive Summary of California Polling Data.

Jim

----- Forwarded by James D Steffes/NA/Enron on 03/16/2001 07:29 AM -----

	Janel Guerrero 03/16/2001 07:21 AM 	   To: Tim Belden/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Elliot Mainzer/PDX/ECT@ECT, Alan Comnes/PDX/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Lysa Akin/PDX/ECT@ECT, Susan J Mara/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron, Joseph Alamo/NA/Enron@Enron, hgovenar@govadv.com, sgovenar@govadv.com, bhansen@lhom.com, ken@kdscommunications.com, Leslie Lawner/NA/Enron@Enron, Mary Schoen/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, John Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James D Steffes/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Stacey Bolton/NA/Enron@Enron  cc:   Subject: Executive Summary -- CA Statewide Survey

In order to keep today's polling presenation brief, I am sending everyone a copy of the Executive Summary which Public Opinion Strategies is likely to spend the majority of time discussing.

Call if you have questions. Thanks


Attached is a newly revised Credit Watch listing.  If there
are any personnel in your group that were not included in this distribution,
please insure that they receive a copy of this report.

To add additional people to this distribution, or if this report has been
sent to you in error, please contact Veronica Espinoza at x6-6002.

For other questions, please contact Bill Bradford at x3-3831, Russell Diamond
at 5-7095, Brant Reves at x3-9897, or the Global Credit Hotline at x3-1803.


Why is this formulation of the EESI Energy Price  any different than saying "plus the Fixed Basis" and then defining the Fixed Basis as a $/kWh amount?  Isn't it exactly the same?  We've written it the way it was before so it is easy to plug in the fixed basis number.

Why have you changed the calculations of excess and deficiency usage charges during the index period?  Why have you used the reference to a Management Fee in the new language?  Why are there no charges for Excess Usage during the index period--are you really giving them the fised basis position for unlimited usage?

Jevaughn Sterling
10/23/2001 05:29 PM
To:	Berney C Aucoin/Enron@EnronXGate, Phil Layton/HOU/EES@EES, Liqun Pan/HOU/EES@EES, Richard Ring/HOU/EES@EES, Michele Raque/ENRON@enronXgate, Jim Brown/HOU/EES@EES, Nina Nguyen/HOU/EES@EES, Christopher Riley/HOU/EES@EES
cc:	NJ Team, James M Wood/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Bob Hansen/HOU/EES@EES, Gillian Johnson/HOU/EES@EES
Subject:	NJ Index plus

Following today's discussions with the Transaction Accounting group to discuss fixed basis Mark to Market, Product Management has modified the definition of the EESI Energy Price.

The conclusion of the discussion with Transaction Accounting was that the Index product does in fact create a commodity position that the commodity desk can "choose" to manage.  The "revenue" position that is created when the contract is signed with the customer will be settled based on the published PJM Zone LMP, nevertheless the commodity desk may choose to manage their "cost" otherwise.  The proposed fixed basis will be treated as ONE with the index in determining the EESI Energy Price.   This approach is very similar in nature to the definition of the "Plus" that is defined in the ENovative Lite Energy Service Agreement for Gas products.

Therefore, the EESI Energy Price will now read:

""EESI Energy Price" means the sum of the weighted average (weighted in accordance with the Account's hourly usage or the Utility rate class usage profile) of hourly Real Time Locational Marginal Price for the applicable Utility load zone as posted by the ISO plus $0.0[    ] per kWh."

Please see the attached transaction confirmation and comment on the new definition of the fixed basis.  All references to the fixed basis ("Management Fee")  as a separate component of the EESI Energy Price should be removed from the contract language.

Please provide your comments accordingly.

Thanks


Barry it looks reasonable to me.  I sure would like to add something sizable to the totals for Q4.

But I'm a pig that way!

 -----Original Message-----
From: 	Tycholiz, Barry
Sent:	Friday, October 26, 2001 1:11 PM
To:	Whitt, Mark
Subject:	FW: West Gas 3Q YTD Origination

Mark, I have reviewed this file and believe it is accurate up to the end of Q3.. Can you please review for your guys and advise if there is any variance.. I am not worried about 10 or 20,000 either way because I don't think we will manage down to that level anyways.

BT

 -----Original Message-----
From: 	Carter, Carol
Sent:	Friday, October 26, 2001 2:07 PM
To:	Tycholiz, Barry
Subject:	West Gas 3Q YTD Origination

Barry,

Attached is a revised origination schedule for 3rd quarter and supporting detail.

Please provide any revisions by Wednesday, October 31.  I will consolidate the originations for all teams and submit to Louise.

Let me know if you have any questions.

 << File: 3Q YTD Origin West Gas.xls >>

Have a Great Day,
   Carol L. Carter
   713-853-1945


The report named: East P/L Totals <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=1&report_name=East+P/L+Totals&category_cd=1&category_name=EAST&toc_hide=1&sTV1=1&TV1Exp=Y&current_efct_date=10/31/2001>, published as of 10/31/2001 is now available for viewing on the website.


Under the Radar: Enron's Only White Knight Is Itself
TheStreet.com, 11/02/01
BANDWIDTH BEAT: Playing '20 Questions' With Enron Execs
Dow Jones Energy Service, 11/02/01
USA: Stung Californians not crowing at Enron's troubles.
Reuters English News Service, 11/02/01
Enron Portland Genl Sale Seen Going Smoothly This Time
Dow Jones Energy Service, 11/02/01
Nymex/Lowers Costs -2: Retroactive To Thurs Transactions
Dow Jones Commodities Service, 11/02/01

Under the Radar: Enron's Only White Knight Is Itself
By Christopher Edmonds <mailto:cedmonds@thestreet.com>
Special to TheStreet.com
11/02/2001 03:15 PM EST
URL: <http://www.thestreet.com/comment/chrisedmonds/10003396.html>

There is no suitor-in-waiting for Enron (ENE:NYSE - news - commentary) .
Despite a speculation-filled week, Warren Buffett's Berkshire Hathaway (BRKA:NYSE - news - commentary) probably isn't waiting in the wings to gobble up the troubled energy giant. The risk profile doesn't fit Royal Dutch Shell (RD:NYSE - news - commentary) , and it's unlikely General Electric (GE:NYSE - news - commentary) is ready to jump at the chance to rescue the Houston energy firm from its troubles with the SEC and disgruntled investors. ?And while the recent slide in Enron's stock price might seem to make it an attractive target, it's implausible that an Enron competitor would step up to the plate and make an offer to acquire its troubled peer. ?"We do not believe there is a high probability of a bailout offer at a price significantly above the current price, as there is too much uncertainty about the capital structure and shareholder lawsuits," says Jeff Dietert, independent power analyst at Simmons & Co., a Houston energy investment firm and a member of the TSC Energy Roundtable. ?Many metrics suggest the stock is inexpensive. Merrill Lynch analyst Donato Eassey recently calculated Enron's asset value to be between $16 and $24 per share, which may make Enron's current price of less than $12 look cheap. But in nearly the same breath, Eassey downgraded Enron stock to neutral from "accumulate." Merrill Lynch has provided banking services for Enron. ?"While we have not altered our view of Enron's fundamentals or its ability to weather this long-term storm, from a practical standpoint we believe noise surrounding the SEC's move to a formal investigation will outweigh any [earnings] analysis or net asset value calculation," Eassey told clients in a report Thursday. ?For Buffett: Intriguing But ...?Reports that famed value investor Warren Buffett is looking at Enron may be correct. He is an opportunistic investor and has an interest in the power business. And, Berkshire's ownership of Mid-American Energy provides a platform for an Enron deal. ?However, interest and action are two different things. While Buffett has said he wants additional power holdings, he seems more focused on the traditional, regulated utilities rather than the more aggressive opportunities represented by Enron. Buffett's track record shows he craves certainty and that is something Enron can't provide, especially now. ?There are also pragmatic issues. If Enron considered a deal, it would have to be one that was both rich and immediate, something Buffett can't offer. Constrained by the Public Utility Holding Company Act, or PUHCA, Berkshire might not be able to purchase Enron until the sale of Portland General, the Oregon utility, is completed sometime next year. ?The Enron culture could also keep Buffett away. Enron is well known for its employee stock option program that made millions of dollars for people like ex-CEO Jeffrey Skilling while creating little value for shareholders. Buffett is a tireless critic of such shenanigans. Buffett also generally looks for companies with a management team committed to remaining in place, and Ken Lay has no desire to remain at the helm of Enron for the long haul, and future leadership is uncertain. ?And while Buffett still may take a look, price could be the ultimate stumbling block. "I think he understands the derivative trading business better than most," says Robert Hagstrom, portfolio manager of the Legg Mason Focus Trust and author of The Essential Buffett: Timeless Principles for the New Economy. "I wouldn't be surprised if it's caught his eye, but I don't think he would get his price. He won't pay a premium for Enron." ?As for Buffett, he won't comment on anything, let alone rumors like this. ?Shell: Burned Out on Gas??Another rumored suitor is Royal Dutch Shell (RD:NYSE - news - commentary) . Speculation has escalated to the point of suggesting that Shell and Enron have signed a confidentiality agreement to allow for exchange of privileged financial data. ?A Shell spokeswoman in London would not comment on the speculation. An Enron spokesman also declined to comment. ?Shell wants to expand its gas business and in its bid for Barrett Resources, showed it will pay a premium for the right assets. ?But Enron is more an energy trading company than an exploration and production company. Shell's problems growing both its Coral trading subsidiary and its Tejas Gas unit -- a costly acquisition -- probably would make it shy away from going there again, Dietert says. ?Shell and Enron are very different companies, he adds. "Culturally, it's a tough deal to imagine." ?GE Capital: Enlightened Investor??The final name bandied about is GE Capital. This one is more difficult to figure, but an investment in Enron by the finance unit of General Electric isn't out of the question. However, sources tell me an outright bid is unlikely. ?"They are a potential investor," says Dietert. "If push comes to shove, Enron would be willing to issue 30% to 40% more equity rather than face bankruptcy. And, GE Capital could participate in such a deal." ?However, any move is just speculation at this point. And General Electric won't comment on speculation. ?Even if an offer for Enron emerged, price would clearly be an issue. Current uncertainty suggests any offer would be well below a price Enron would consider reasonable. Hence, while a bid for Enron isn't out of the question, it's likely Enron will stand to fight its current battles alone. ???BANDWIDTH BEAT: Playing '20 Questions' With Enron Execs?By Michael Rieke??11/02/2001?Dow Jones Energy Service?(Copyright (c) 2001, Dow Jones & Company, Inc.)??A Dow Jones Newswires Column ??HOUSTON -(Dow Jones)- Since Enron Corp. (ENE) is such a hot topic these days, here's a suggestion for a new game.?If you worked for the Securities and Exchange Commission, with its subpoena powers, what questions would you ask in your current investigation of Enron? ?You could even break it down into categories, like the game show "Jeopardy." ?The first category is Enron trading counterparties run by Enron executives. ?How many of those counterparties were run by Enron employees such as former Chief Financial Officer Andrew Fastow and Michael Kopper, a former managing director of Enron's Global Equity Markets Group? ?We know that Fastow ran two private investment companies that Enron traded with - LJM Cayman and LJM2 Cayman. Kopper ran one called Chewco Investments ?What does LJM stand for? (If you know that answer to that one, you're ahead of an Enron spokeswoman who told Bandwidth Beat that she didn't know what the letters stood for.) ?Sometimes companies use letters that are actually initials of investors names. Are any of the investors in the LJM partnerships an Enron executive whose last name starts with L, J or M? (The Enron spokeswoman hasn't called back with an answer to that one either.) ?Who was meant to profit and who was meant to lose in Enron's complicated financial transactions with the LJM partnerships and others? ?If the partnerships were meant to profit, what will Enron's shareholders (and their class-action lawsuit attorneys) have to say about it? ?If Enron was meant to profit from the transactions, was it because the deals allowed the company to hide underperforming assets, making its quarterly reports look better? If the answer to that question is yes, what will Enron's shareholders (and their class-action lawsuit attorneys) have to say about it? ?A related category might be geography. Start with an easy one: In what body of water are the Cayman Islands located? ?Then move to more interesting questions. Why were the two LJM private investment partnerships located in the Caymans? Does it have anything to do with the fact that the Caymans are a tax-free jurisdiction even for non-residents? Does it have anything to do with the strict confidentiality laws governing business transactions there? ?The next category is politics. Again, start with an easy one: How much money did Enron Chairman Ken Lay give to George W. Bush's presidential campaign fund? (That one is easy because, by law, the limit is $1,000 per person for hard money contributions.) ?How much soft money did Lay and Enron each give to the Republican Party during the 1999-2000 campaign cycle? ?How much did Lay give to Bush's presidential primary campaign fund? (That one is more difficult. Bush decided not to accept government matching funds for his primary campaign, so there wasn't any limit on individual contributions.) ?How much money did Ken Lay help raise for Bush's presidential primary campaign? (Here's a hint: He was a member of the Bush Pioneers, each of whom pledged to raise at least $100,000 for the fund.) ?Still in the politics category, how much will those campaign contributions affect the current SEC investigation of Enron? (That's another easy one. All contributors to political campaigns will tell you that they expect nothing in return.) ?Now for the history category. In an April conference call with analysts, who was the analyst who criticized Enron for not disclosing enough information about its finances? ?What expletive did Enron's former Chief Executive Jeff Skilling call the analyst? (Here's a hint: In reporting the name-calling incident, a radio newsman said Skilling had "called the analyst a type of hole.") ?At the time, Skilling said the analyst was a "short-seller." That means the analyst had borrowed Enron stock and sold it, expecting the share price to decline over time. He then would buy it back at a lower price and make a profit. ?If that investment strategy qualified the analyst to be called a particular type of hole, what do you call the Enron executives who have sold more than $500 million in company shares since Jan. 1, 2000? ?In answering that question, remember that short-sellers have to buy the stock back at some point in order to make money. Also remember that the Enron executives didn't have to buy back any of the stock they sold. ?Join in the fun. If you want to play and have questions to add to the list, refer to the e-mail address and phone number below. ?-By Michael Rieke, Dow Jones Newswires; 713-547-9207; michael.rieke@dowjones.com??Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. 	??USA: Stung Californians not crowing at Enron's troubles.?By Leonard Anderson??11/02/2001?Reuters English News Service?(C) Reuters Limited 2001.??SAN FRANCISCO, Nov 2 (Reuters) - If there's one market that might applaud the mounting financial woes facing energy giant Enron Corp., it's California, whose power sector was shattered by the market deregulation that Enron tirelessly champions. ?Last summer, angry Californians tossed a pie at Enron ex-Chief Executive Jeff Skilling during a speech here in which he blamed state regulators for causing the energy crisis.?California officials, led by Governor Gray Davis, blasted Houston-based Enron and other out-of-state power companies for creating the emergency, accusing them of manipulating the market and jacking up prices. ?But with Enron now facing a credit crunch and a full-scale probe by U.S. regulators into questionable financial dealings, California officials are holding back their harshest criticism, saying instead there are lessons to be learned from Enron's predicament. ?And some of Enron's toughest critics, among them Davis and Loretta Lynch, president of the state's Public Utilities Commission (CPUC), would not discuss the company's woes. ?"You reap what you sow, but I don't think anyone wants to pile on them right now," said a state government source. ?Many Californians cited ongoing business and creditor links with Enron as reasons not to hurl stones at the energy giant. ?Enron is by far the nation's largest trader of electricity and natural gas, with energy analysts estimating it is involved in some 25 percent of daily trade in those markets. ?Transactions on the company's widely watched Internet-based EnronOnline trading system are estimated currently to average $3 billion to $4 billion a day. ?'BUSINESS CYCLES' ?"Business cycles come and go," said Greg Pruett, spokesman for San Francisco-based energy company PG&E Corp. , whose Pacific Gas & Electric unit, California's biggest utility, filed for federal bankruptcy protection in April in the wake of the energy mess. ?"We are wrestling with our own situation, and you can appreciate what Enron is going through. We have done business with Enron for a long time and will continue to do business with them in the future," Pruett said. ?California's power agencies, forced into buying emergency electricity for the state earlier this year when the state's investor-owned utilities ran out of credit and cash, said they have financial ties with Enron. ?"Their situation is not ringing alarm bells for us," said Gregg Fishman, a spokesman for the Independent System Operator (ISO), which manages the state power grid. ?The ISO owes Enron money for purchases of daily power supplies but Fishman declined to say how much. ?Aside from a 30-day supply contract earlier this year, Enron does not have any current power deals with the state's Department of Water Resources, said Oscar Hidalgo, spokesman for the agency which negotiates long-term agreements. ?One top California energy regulator, however, said Enron's troubles offer an important lesson for energy markets. ?Carl Wood, a CPUC commissioner, said the deregulation of markets for basic services like electricity "threatens as much financial volatility and instability as we have seen in the telecommunications and the dot-com industries." ?Wood said, "Enron is the flagship for deregulation, but there are definite dangers of venturing into unregulated market behavior. Enron itself apparently is becoming a victim of sorts. Our largest utility is in bankruptcy. One obvious conclusion is to keep the energy industry on a pretty short regulatory leash." ?"The unregulated energy industry rises faster, but it also falls further," said Doug Heller of the Foundation for Taxpayers and Consumer Rights, an advocacy group in Santa Monica, California. ?"It's okay for a free market to operate for things like computers and other goods but energy is different. Regulatory structures are needed to protect customers," he said.??Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. 	??Enron Portland Genl Sale Seen Going Smoothly This Time?By Jessica Berthold?Of DOW JONES NEWSWIRES??11/02/2001?Dow Jones Energy Service?(Copyright (c) 2001, Dow Jones & Company, Inc.)??LOS ANGELES -(Dow Jones)- Enron Corp's (ENE) current troubles won't jeopardize its $1.8 billion sale of utility Portland General Electric to Northwest Natural Gas Co. (NWN), analysts and the companies said. ?In contrast to Enron's previous attempt to sell the utility to Sierra Pacific Resources (SRP), which foundered earlier this year on regulatory issues, the sale to the Portland, Ore.-based gas utility is expected to go smoothly.?It will need to, as Enron has said it is counting on sales of assets, including Portland General, to pay off $3.3 billion in notes coming due during the next 20 months. ?"Enron has wanted out of this asset for a very long time," said Susan Abbott, an analyst with Moody's Investor Services. "Right now, they need to sell some assets, and this would be a larger one that would give them some cash." ?The energy giant's shares have lost about two-thirds of their value in the past three weeks and its credit ratings have been downgraded to within two steps of noninvestment grade levels due to uncertainties about its extremely complex financial structure. ?Those uncertainties were sparked Enron's $1.2 billion reduction in shareholder equity related to transactions with entities headed by former Chief Financial Officer Andrew Fastow. The notes coming due are also related to those entities. Enron's dealings with those entities are the subject of an investigation by the Securities and Exchange Commission, and have raised investor hackles over a perceived lack of transparency. ?Analysts said none of this will change plans for the Portland General sale - which will bring Enron $1.55 billion in cash, $200 million in Northwest Natural Gas preferred stock, and $50 million in common stock. ?Earlier Problems Not Seen Repeated ??In April, a two-year old deal to sell the utility to Nevada company Sierra Pacific Resources (SRP) for $2 billion collapsed due to changes in that state's laws that would have forbidden the utility's recovery of power costs if the sale went through. The deal had already been doomed for months due to Sierra Pacific's tenuous financial position. ?But Northwest Natural's financial house is in order, and there is no apparent law or regulation that threatens to block the deal in Oregon or Washington, the two states where approval is needed, analysts said. ?"Northwest Natural is very well-regarded by regulators in both states, and I think there's quite a bit of interest on the part of regulators to have the utility in local hands as opposed to somewhere down in Texas," said Gerald Keenan, utility analyst for PricewaterhouseCoopers. ?Concerns about the quality of Enron's credit may encourage state regulators to act more quickly on the sale, an analyst said. ?"If I were a regulator, I'd be much more interested in having Portland General out from under Enron," the analyst said. ?The Oregon Public Utilities Commission hopes to expedite its review of the sale so that it is complete in six months, rather than the usual 10, commission spokesman Bob Valdez said. ?"Given the fact that we are familiar with the management and regulatory affairs of both companies and have dealt with them extensively, we hope it will take no longer than six months," said Valdez, adding that the commission expected to receive a filing on the sale Nov. 7. ?The Washington Utilities and Transportation Commission hasn't received a filing, but once it does there is no statutory time limit on review, a spokeswoman said. ?Federal Review Seen Uneventful ??In addition to Oregon and Washington utilities regulators, the sale must be approved by the Federal Energy Regulatory Commission, the U.S. Securities and Exchange Commission, the Federal Trade Commission, the U.S. Department of Justice and the U.S. Nuclear Regulatory Commission. ?None has received filings yet on the sale, which is slated for completion in the fourth quarter of 2002. ?"We are shooting for mid-November as far as submitting our request to the state commissions," Northwest Natural Gas spokesman Steve Sechrist said. "Those will be the first major hurdle, then we'll move on to the federal filings." ?Shareholders must also approve the acquisition. They will likely vote in spring of 2002, Sechrist said. ?Northwest Natural, Enron and analysts said they don't expect hangups at the federal level. ?The only thing that might create a problem for the sale, Keenan said, would be a "significant deterioration" of the natural gas or electricity markets harming the companies. Right now, however, things look good on that front. ?"The market is much more stable than it was when Sierra Pacific tried to buy the utility. And the deal is much more practical this time: the price is lower and the terms are better," he said. "Clearly it's important for Enron to be able to get this done, and I think they will." ?-By Jessica Berthold, Dow Jones Newswires; 323-658-3872; jessica.berthold@dowjones.com??Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. 	??Nymex/Lowers Costs -2: Retroactive To Thurs Transactions??11/02/2001?Dow Jones Commodities Service?(Copyright (c) 2001, Dow Jones & Company, Inc.)??NEW YORK -(Dow Jones)- The New York Mercantile Exchange, the world's largest energy futures marketplace, said Friday it lowered the cost of exchange-of-futures-for-swaps transactions retroactive to Thursday, when the new instruments were introduced. ?In a press release Friday, Nymex said it cut the cost of EFS transactions to $2.50 a contract per side from $10 a contract per side.?The exchange introduced the contracts in its natural gas futures market Thursday, in a move the trading community saw as an attempt by Nymex to grab market share from Enron Corp. (ENE) by extending its clearing services to the over-the-counter market for natural gas derivatives. ?Enron, which accounts for about 25% of the trade in U.S. power and gas markets, has seen its creditworthiness questioned as a result of complicated financial dealings that led to a $1.2 billion writedown of shareholder equity, a 65% drop in the company's stock in two weeks and an investigation by the Securities and Exchange Commission. ?In the first full day of trading on Nymex, 11,000 EFS contracts changed hands, Nymex said. ?EFS transactions are similar to exchange-of-futures-for-physicals, or EFP, transactions. Two parties will privately negotiate integrated over-the-counter swaps and a related futures transaction. The transaction must involve approximately equal, but opposite, side-of-market quantities of futures and swap exposures in commodities that are similar or related. ?The EFS transactions will be allowed to liquidate, initiate and transfer market positions between the two parties involved in the transaction. ?-By Andrew Dowell, Dow Jones Newswires; 201-938-4430; andrew.dowell@dowjones.com??Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. 	??


This is a bridging problem. We alsoi have bridging problems with Canadian deals. Can we talk about fixing these??

 -----Original Message-----
From: 	Grigsby, Mike
Sent:	Wednesday, October 17, 2001 3:11 PM
To:	Moorer, Torrey; Storey, Geoff
Subject:	Bridging EOL Phys FP deals

Where do we stand with our systems being capable of booking physical fixed priced deals on EOL?

Thanks,
Mike Grigsby


Steve -- I believe that the note from Dan below responds to your request  for
an outside counsel response concerning the appliability of recent FERC refund
orders to bilateral transactions, including sales to the California Dept. of
Water Resources (CDWR).  Let me know if you would like a formal opinion
letter or if there is anything else I might do for you.  Later Joe
202.466.9150
----- Forwarded by Joe Hartsoe/Corp/Enron on 03/14/2001 09:57 AM -----

	"Jeffrey Watkiss" <dwatkiss@bracepatt.com>
	03/14/2001 09:31 AM

		 To: <jhartso@enron.com>
		 cc: "Ronald Carroll" <rcarroll@bracepatt.com>
		 Subject: Sales to CDWR

The $150 "soft price" cap that FERC adopted in its December 15 order applies
only to sales of power into the California ISO market and California PX
day-aheadand day-of markets.  These are the real-time and short-term markets,
respectively.   By the terms of the December 15 order, the cap does not apply
to any bilateral transactions, including sales to the California Dept. of
Water Resources (CDWR), which are generally for longer terms.

Given the instability of the California market, the current applicability of
the cap may change in the future.  In a recentlly released report, FERC staff
recommends that the cap be discontinued after April 2001 and replace by a
series of other measures to mitigate market power.  Thes include a marginal
cost price cap on sales into the ISO by sellers who are party to the
participating generator agreement.

Although unlikely, it is not inconceivable that someone in the future might
argue that the role currently being performed by CDWR is in some respects the
same role as was formerly performed by the PX.  Based on that proposiiton, it
might be argued that a price cap similar to the "soft price" cap  be imposed
on sales to the CDWR.


Can you take care of this.  Thanks

 -----Original Message-----
From: 	Legros, Liz
Sent:	Thursday, November 08, 2001 8:44 AM
To:	Geaccone, Tracy
Subject:	RE: GRI  Msg: Time Sheet Submitted for JEANETTE Y . DOLL.

Hi Tracy,

I wanted to follow-up to make sure you had received the information you requested.

Should you have any questions please don't hesitate to call CSS at x56899.

Thanks!
Liz
CSS

 -----Original Message-----
From: 	"Usher, Robyn" <Robyn.Usher@Itiliti.com>@ENRON
Sent:	Friday, October 19, 2001 9:17 AM
To:	CSS
Subject:	FW: GRI  Msg: Time Sheet Submitted for JEANETTE Y . DOLL.

-----Original Message-----
From: Geaccone, Tracy [mailto:Tracy.Geaccone@ENRON.com]
Sent: Thursday, October 18, 2001 4:57 PM
To: itiliti GRI Notification
Subject: RE: GRI Msg: Time Sheet Submitted for JEANETTE Y . DOLL.

What is my user id and password

-----Original Message-----
From: itiliti GRI Notification [mailto:GRINotice@itiliti.com]
Sent: Thursday, October 18, 2001 4:51 PM
To: Geaccone, Tracy
Subject: GRI Msg: Time Sheet Submitted for JEANETTE Y . DOLL.

A time sheet for JEANETTE Y . DOLL has been submitted for your approval.

Candidate Name: JEANETTE Y . DOLL
Client Name: Enron-eHouston
Time Sheet Status: Submitted
Time Entry Start Date: 10/8/2001
Time Entry End Date: 10/14/2001
Submitted By: JEANETTE Y . DOLL
Approved/Rejected By:

Click link to access timesheet:
https://gri.itiliti.com/TimeApproval/ViewAprvTSAmdt.asp?ResUsrId=27631&C
lntOrgId=661&auth=apvl&PrsnId=20599&PrsnTpCd=2&Strt_Dt=10/8/2001
M
 essage T100 (NQ:383833 ) :   1585

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


Several groups have asked about the "11/30 to date" column on the DPR and what should be included in that number.  The intent was to report the p&l activity since Enron filed for bankruptcy, therefore including December p&l and January to date p&l, for the current DPR.  However, the question of whether we have the ability to include December's p&l is open.  The report should not include active deals which we do not intend to perform on, but those deals may not have been removed by the end of December from everyone's p&l.

Please let me know if this is the case for your books.

Thanks,
Chris
 -----Original Message-----
From: Abel, Chris
Sent: Tuesday, January 29, 2002 5:14 PM
To: Hall, Bob M; Gossett, Jeffrey C.; White, Stacey W.; Albrecht, Kristin; Reeves, Kathy; Gillis, Brian; Pearce, Barry; Miralles, Albert; Hall, D. Todd; Sweeney, Kevin; Earnest, Scott; Fondren, Mark; Swinney, John; Prejean, Frank; Horn, Cindy; Thurbin, Simon; Sharma, Shifali; Mao, Shari; Postlethwaite, John; Evans, Casey; Glover, Sheila; Carrington, Clara; Best, John
Cc: Beck, Sally; Wilson, Shona; Considine, Keith; Trevino, Susan; Ayala, Susie; Apollo, Beth; Fallon, Jim; Pearce, Barry; Thapar, Raj
Subject: EWS DPR

To simplify the DPR reporting each Wednesday and Monday, please use the attached spreadsheet to populate and return via email.  This is a temporary solution and I will be working to set up a new export process the streamline reporting.  I would appreciate it if the spreadsheets were emailed priro to noon each Wednesday and Monday.  The main info to include are the positions, p&l and PRMA.

Please remember to include only the information related to active deals that we anticipate fulfilling.  If there are any pieces that should be captured, and for whatever reason you are not able to at this time, please note that as a caveat at the bottom of the spreadsheet.

Thanks,

Chris Abel
Manager, Risk Controls
Global Risk Operations
chris.abel@enron.com <mailto:chris.abel@enron.com>
713.853.3102


John

Here is the Alberta map for the location of the PPA units.

s


Ashley, the oven/stove problem should be fixed before the weekend.  If you
have any further problems with it please let me know; I realize it's pretty
old.  I never noticed the control for the oven doesn't even have temperatures
marked on it...the repairman is definitely taking care of that too!  The
handy dudes are coming over to give me an estimate on the kitchen and
bathroom floors and I'm going to also ask them to replace the wood around the
A/C in the second bedroom.  If there's anything else you've noticed that
needs fixing let me know.


Gentlemen:
Just a few lines to let you know about my decision to leave my position as
Vice President and General Manager Latin America and Caribbean at Network
Associates. I am aware about Enron's current and future expansion plans in
the IT arena worldwide, and there is no a doubt in my mind that you are in
need of good telented people to help you growing your overall IT business.

I am attaching to this e-mail a copy of my Resume outlining my qualifications
for your review and consideration. Please feel free to contact me at
954-452-0664 should any of you have a questions. Looking forward to talking
to all of you soon. Best regards, Herbert Arturo Molina

 - Herbert.PDF


Start Date: 2/6/02; HourAhead hour: 12;  HourAhead schedule download failed. Manual intervention required.


Alex,

Can you set up a meeting to review this product. They have an office in
Houston.

Please, invite people on the distribution list.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/30/2000
10:26 AM ---------------------------

Denton Mike <Michael.Denton@caminus.com> on 10/24/2000 10:14:04 AM
To: vkamins@enron.com
cc:
Subject: PoweRisk 2000 followup in re WeatherDelta

Mr.  Kaminski,
?
Nick Perry and I  were recently discussing the conference in Paris, and we
gathered that you had  some interest in exploring possible uses of our new
WeatherDelta tool-kit.?  It is the only application that we know of, that
can?model temperature,  loads, and power prices in several locations
simultaneously: thus allowing the  user to measure the value an risk in a
variety of financial instruments,  physical obligations and assets.? I have
attached the product overview  sheet, and would be happy to discuss its
capabilities with you at your  convenience.??
?
Nick and I send our  regards,
?

Vice President
NA Strategic  Consulting
CAMINUS
747 Third  Avenue, 18th Floor
New York, New York 10017
(212) 515-3667

?

?

 - weatherdelta.pdf


Daren -

Could you please resolve this issue for Howard?  I will be out of the office
the next two days.
When this is done, please let George know. Thanks.

Aimee
---------------------- Forwarded by Aimee Lannou/HOU/ECT on 12/15/99 01:27 PM
---------------------------

Howard B Camp
12/15/99 01:01 PM
To: Aimee Lannou/HOU/ECT@ECT
cc: Daren J Farmer/HOU/ECT@ECT, Stacey Neuweiler/HOU/ECT@ECT, Mary M
Smith/HOU/ECT@ECT
Subject: Meter 1431 - Nov 1999

Aimee,
Sitara Deal 92943 for meter 1431 has expired on Oct 31, 1999 .  Settlements
is unable to draft an invoice for this deal.  This deal either needs to be
extended or a new deal needs to be set up.  Please let me know when this is
resolved.  We need it resolved by Friday, Dec 17.
HC


Ken/Joe,  As I was walking back to my office reflecting on our conversation,
there are three points that I mentioned but I think got lost in the
discussion.

1)  This needs to be a stock deal to avoid Indian tax (48%), poorly written
preferential purchase language and gov't approval.  (Still requires RBI
approval)  All of the numbers I have in the document assume a stock
transaction.

2) RIL is very tax advantaged, currently and for the foreseeable future they
will be in an NOL position;  therefore, at the numbers we are discussing they
should see this as an unleveraged return opportunity of 16% (stock purchase
fully taxed with no basis) to 27% (stock purchase shielded from taxes-- Btax
scenario).   Again, the tax position makes RIL unique for this transaction
and a very likely buyer at these numbers.  Few other parties will be as
positioned to consider a stock transaction of a company with minimal Indian
basis, accept the operational conditions and be able to close as quickly.

 3) The idea of coupling the other India assets with the E&P is a good
strategy if your goal is to ultimately sale, but time is unimportant.   I've
done multi-asset deals before with a major and the bureaucracy rivals India.
The due diligence on the multiple assets will eliminate any chance of closing
this year. In fact, I would be surprised if we could even get a PSA signed
before year-end on a multi-asset deal, plus the gov't approvals become more
complex.

 If the goal is money in the door before 12/31/00,  I favor a buy/sell at
Ken's number.  If we go to October and don't get the documents in place we
really haven't lost anything because there is little likelihood of closing
under a traditional scenario even if we start today.   We will prepare our
dataroom while the negotiations on the documents take place and be ready to
bring in bidders by October. If we buy at these numbers I believe we can flip
the deal within 6-9 months if not sooner since we have operatorship, critical
mass a major would covet, only one partner and Reliance is not a partner.

Also,  If we elect to go to a traditional auction, I would strongly suggest
we keep the E&P separate from the other India assets, at least initially, to
run the auction with the best chance of getting a PSA signed before
year-end.   We can always combine them at a later date during negotiations
once we see how the process is going.  Too many pieces right out of the box
will be very cumbersome and time consuming.  If we have to combine them to
get interest, we can do it as we see the need for an enhancement.

My final thought, if we do an outright sale to RIL ( not a pre-negotiated
buy/sell with stipulated closing dates,,, etc.) they will want to do a
certain amount of due diligence and rightfully so.   They would expect and
probably demand the same considerations as any other buyer including a
dataroom visit to pick our brains one more time.  Again this becomes a time
issue!!  Under the buy/sell scenario we have devised, there is no due
diligence period, the structure of the deal is stipulated and everything is
handled via representations and warranties in the pre-negotiated PSA.

Let me know how and when you wish to proceed.   I will pursue with complete
dedication whichever option you select.

Thanks for the time to share my thoughts,
jeff


Cindy,

This is our preliminary review of the documentation sent by Mr. Patteson.

One more person will take a look at it.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/25/2000
03:13 PM ---------------------------

Stinson Gibner
10/25/2000 01:16 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Zimin Lu/HOU/ECT@ECT, Kevin Kindall/Corp/Enron@ENRON
Subject: Matthew Patteson, Inventor

Vince,

After reviewing the documents furnished by Mr. Patteson,  I do not feel that
Enron should consider engaging in any testing, development, or licensing of
his proposed generator for the following reasons:

1.  Enron is not currently in the business of developing or manufacturing
electrical generation equipment and does not plan, as far as I know, to enter
this business.   The one exception is our ownership in entities developing
wind and solar, renewable energy.

2.  Enron does not have the proper facilities or expertise to test or develop
Mr. Pattesons proposed generator.

3.  There could be substantial risk in testing this generator as it would
involve boiling of a flammable material under pressure.

4.  I do not believe that the proposed generator will produce any significant
quantity of electrical power.   The generator produces power by induction.
That is, electric current is induced by a changing magnetic field.   The
mechanism powering the changing magnetic field is the movement of magnetic
dipoles which are suspended in a boiling medium.   As the boiling will
produce a somewhat random movement of the liquid, the "movement" or change in
the magnetic field will be highly random and thus not suitable for producing
a steady or reliable electrical current.

I have asked Martin Lin to also review the documents to render an independent
opinion of this proposal.

Respectfully,

Dr. Stinson Gibner
PhD. Physics
VP Research, Enron North America

P.S.   Kevin and Zimin:  If you have any interest in reviewing Mr. Patteson's
proposal, please let me know.


Canada called and said this trans shouldn't be Riskmantra.   Please let me know what you need me to do.    Thanks


We are doing business as Enron Compression Services Company.  Let me know if
you need anything else.

Cheryl Lantz Marshall on 12/22/99 10:28:55 AM
To: Carol Carter/HOU/ECT@ECT, Charlie Thompson/GCO/Enron@ENRON, Danny
Schedule/GCO/Enron@Enron, Gerald Nemec/HOU/ECT@ECT
cc: Mark Courtney/HOU/ECT@ECT
Subject: Planergy Contract

This memo is regarding an agreement with the following title:  ENERGY
SERVICES AGREEMENT BETWEEN PLANERGY SERVICES OF HOUSTON, INC. AND ENRON
COMPRESSION SERVICES COMPANY (the "Agreement").

Enron Compression Services Company (ECS) has an agreement with Planergy by
which ECS and Planergy share in the energy savings from the certain equipment
at the new Bammel compression station.  The Agreement states that we "...will
forward the recorded hours of operation for the previous month to Planergy
within (15) days of the 1st day of the month."  We are currently working with
Planergy and the Bammel team to design the report that will track the hours
of use for the subject equipment.

I would like to suggest that the Bammel team fax the recorded hours before
the 15th day of the following month to those listed below:

Cheryl Marshall (Asset Management)- fax 713-646-8416
Carol Carter (ECS accounting) - fax 713-646-3084
Roger Roedick (Planergy) - fax 713-468-1457

If anyone disagrees with this idea, please call Cheryl at 713-853-6250.

Gerald - as it relates to the Agreement - who are we doing business as?
Please let Carol Carter know also.


THANKS!  I'VE BEEN WAITING FOR SOMEONE TO JUMP ME ON THE APRIL 1 DEAL BUT YOU
ARE THE ONLY ONE SO FAR!!!!!  ITS NOT LIKE PEOPLE TO PASS UP A FREE SHOT AT A
LAWYER!  DF

From: Bob Stevens/ENRON@enronXgate on 03/09/2001 10:10 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc:

Subject: FW: Organization Announcement

CONGRATS!  Is there some underlying meaning in the April First effective date?

 -----Original Message-----
From:  ETS General Announcement/ET&S/Enron@ENRON
[mailto:IMCEANOTES-ETS+20General+20Announcement_ET+26S_Enron+40ENRON@ENRON.com
]  On Behalf Of Stan Horton, Chairman & CEO@ENRON
Sent: Wednesday, March 07, 2001 10:58 PM
To: Enron Transportation Services Operations@ENRON
Subject: Organization Announcement

Michael Moran, currently Managing Director and General Counsel for ETS, has
decided to retire after a distinguished 27-year career with Enron.   Mike has
been a conscience and a statesman of our organization and it is hard for me
to imagine the ETS organization without Mike.

Fortunately, Drew Fossum, currently Vice President and General Counsel for
Northern Natural Gas and Transwestern, has accepted my offer to become Vice
President and General Counsel of ETS effective April 1, 2001.  Drew will
relocate to Houston and report to me in his new role.

To assist with transition issues and special projects, Mike has agreed to
stay on board for several months as Managing Director and Special Counsel to
the Chairman and will continue to report to me.

Please join me in congratulating Drew on his new assignment and thanking Mike
for his many contributions to ETS and Enron.


Start Date: 2/6/02; HourAhead hour: 6;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002020606.txt
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.


Twanda, please print.  Thanks.  MHC

----- Forwarded by Michelle Cash/HOU/ECT on 06/09/2000 01:17 PM -----

	Rick Johnson@ENRON
	06/01/2000 01:25 PM

		 To: Michelle Cash/HOU/ECT@ECT, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 cc: Brian Schaffer/Corp/Enron@ENRON
		 Subject: ECC - double breasted checklist

Michelle, John, Attached please find the draft check-list I prepared per your
requests.  I utilized a variety of legal memorandums and topic reference in
developing this.  In the many instances listed,  the consensus from both
NEPCO and ECC should be paramount.  Please let me know if  there are topics
you would clarify.  I believe we were going to attempt a joint discussion
after receipt and review of this draft.   I have good availability for a
conference discussion on:
Thursday 6/1/2000 - through 6 PM PST
Monday 6/5/2000 - 12 through 6 PM PST
Thursday 6/8/2000  - 12 through 5 PM PST
I will be trying to vacation in the interim periods.  Thanks,  I'll look
forward to your comments.  Rj.