INDIA: Indian states to issue bonds to pay utilities dues.
Reuters English News Service, 07/06/01
Factiva Energy Digest - July 6, 2001.
Factiva Energy Digest, 07/06/01
Commodities Review:Coffee Hits Another Low,$450/Ton Eyed
Dow Jones Commodities Service, 07/06/01

INDIA: Indian states to issue bonds to pay utilities dues.

07/06/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW DELHI, July 6 (Reuters) - Indian states have agreed to issue bonds to
help bankrupt electricity boards pay $8.8 billion owed to federal utilities
but they persuaded the government to cut part of the money due, Junior Power
Minister Jayawanti Mehta said.
The move is seen as a vital step toward putting the ailing utilities back on
the road to financial health and reforming the power sector.
"There has been an agreement. The states have agreed to issue bonds," she
told reporters late on Friday after a meeting of the Empowered Group of chief
ministers and energy ministers of several states.
The group was set up in March after Prime Minister Atal Behari Vajpayee met
chief ministers of all the states and urged them to reform their utilities,
which are expected to report a combined loss of $5.1 billion this year.
Officials said the chief ministers in the group and the federal Power
Minister Suresh Prabhu will discuss the proposal with heads of other states
before the proposal is finalised.
The state utilities' debt comprises a principal amount of about $5.3 billion
and a surcharge of about $3.4 billion levied as interest.
The federal government had offered to waive 50 percent of the surcharge and
allow states to issue tax-free bonds bearing an annual interest rate of 8.5
percent for the rest of the amount.
Mehta said New Delhi had agreed to the states' demand that 60 percent of the
surcharge be waived instead of the 50 percent proposed by the federal
government.
This and some other concessions granted to the states had imposed an
additional burden of 20 billion rupees ($425 million) on the federal
government, she said.
Mehta said the states had also agreed to set up committees to review tariffs.
State utilities supply free or heavily subsidised electricity to farmers and
charge a hefty fee for power given to commercial customers.
Heavy losses and widespread theft has made the state power boards bankrupt
and unable to pay power producers for electricity.
Default by the state utility in the western state of Maharashtra prompted
U.S. energy firm, Enron Corp, to issue a preliminary termination notice for
the $2.9-billion Dabhol Power plant which is India's largest foreign
investment.

Factiva Energy Digest - July 6, 2001.

07/06/2001
Factiva Energy Digest
Copyright (c) 2001 Dow Jones Reuters Business Interactive Ltd., trading as
Factiva.

OIL & GAS HEADLINES
*OPEC Secretary-General Says Resumption of Iraqi Exports Unlikely to Affect
Prices
*U.S. Energy Department Bucks American Petroleum Institute, Showing 11th U.S.
Weekly Gasoline Build
*Brazil Petrobras Global Offer to Close on July 18
*Tanker Body Reports 42 Accidents in First Half
POWER & UTILITY HEADLINES
*Fiat Says Italenergia Filed for Montedison Shareholders Meeting
*Italy Watchdog Undecided on Italenergia/Montedison
*New Power Adds Customers With Two Deals
REGULATORY & ENVIRONMENT HEADLINES
*Germany Sets Up Power Grid Competition Watchdog
*Belgium Government Holding Up Gas Market Opening
*Energy Regulatory Commission Judge Pushes for California Refund Plan Friday
*California Asks SEC to Review PG&E Utility Transfers
*Bankrupt PG&E Seeks Approval to Pay Franchise Fees
*EU Fears for Climate Deal After Australia Talks
**************************************

OIL & GAS
*OPEC Secretary-General Says Resumption of Iraqi Exports Unlikely to Affect
Prices
INTERLAKEN, Switzerland (Reuters) - OPEC Secretary-General Ali Rodriguez said
on Friday a resumption of Iraqi oil exports following a U.N. extension of the
oil-for-food deal was unlikely to affect current oil prices.
"Before Iraq closed production the situation was stabilized and the price was
falling a bit," he told reporters on the sidelines of a business conference
in Interlaken. "OPEC took the decision to maintain production levels and now
the price is oscillating more or less around $25 which is the objective of
OPEC. Now after the United Nations decision (to extend the oil-for-food deal)
the situation is the same."
Iraqi U.N. Ambassador Mohammed Aldouri said on Thursday that Baghdad had
accepted the U.N. decision to extend the oil-for-food program for another
five months to November 30. But Aldouri delayed until next week the signing
of the memorandum of understanding to extend the program, citing a "minor
technical issue" that needed to be resolved.
*U.S. Energy Department Bucks American Petroleum Institute, Showing 11th U.S.
Weekly Gasoline Build
NEW YORK (Reuters) - U.S. gasoline stocks increased for the 11th straight
week, new government data showed Thursday, evidence that demand may not be
recovering as much as an industry report showed earlier in the week, analysts
said. Gasoline stocks rose 0.9 million barrels to 221.6 million barrels for
the week ending June 29, according to Energy Information Administration, the
statistics branch of the Department of Energy. EIA gasoline stocks are now
12.4 million barrels greater than this time last year. The government data
were delayed one day by the U.S. Independence Day holiday Wednesday.
The EIA build countered a draw of more than 2.5 million barrels shown in
industry data earlier in the week in the American Petroleum Institute's stock
report. API implied demand was 9.6 million barrels a day, up from 8.56
million barrels a day the week before. Both reports showed big crude draws.
EIA had a draw of 4.8 million barrels while API had a 4 million barrel draw.
But both showed crude stocks were roughly at 310 million barrels, much higher
than stocks this time last year. EIA showed crude stocks nearly 20 million
barrels greater than last year, while API showed crude stocks are more than
18 million above last year. Both reports showed builds in distillates, though
EIA showed a build of 1.6 million barrels opposed to API's build of nearly 2
million barrels.
*Brazil Petrobras Global Offer to Close on July 18
RIO DE JANEIRO (Reuters) - Brazil's state oil giant Petrobras said on
Thursday that a global offering of about 2 billion reais ($800 million) of
its shares will be closed on July 18. Brazil's National Development Bank
(BNDES) said earlier this week that it had filed a request with U.S. and
Brazilian authorities to sell the Petrobras shares in its portfolio. The 36
million preferred shares are equivalent to 8% of voting stock or 3.3% of
total capital. If demand is strong, the BNDES said on Thursday that the offer
could be extended to include a further 5.4 million preferred shares.
Coordinators of the sale and analysts said on Thursday that they expect
strong demand for the shares due to the high international price of oil and
the company's increasing transparency.
*Tanker Body Reports 42 Accidents in First Half
LONDON (Reuters) - The tanker industry recorded 42 shipping accidents in the
first half to 2001, over half of which involved collision, fire or explosion
and a quarter resulted in pollution, the tanker federation Intertanko said
this week. "Whilst naturally concerned over the 42 incidents, some small
satisfaction is taken from the knowledge that the figures for the last six
months continued to follow the downward trend of the last few years",
Intertanko MD Peter Swift told Reuters.
Of the 42 incidents this year that Intertanko compiled from Lloyds casualty
reports, 12 were collisions, 11 were fires or explosions and nine were
groundings. Fires and explosions have accounted for just 8% of incidents over
the last 22 years, according to Intertanko figures, so the 11 incidents
reported in the first half is an unusually high proportion.
**************************************

POWER & UTILITY
*Fiat Says Italenergia Filed for Montedison Shareholders Meeting
MILAN (Reuters) - Fiat CEO Paulo Cantarella said on Friday the Fiat-led
Italenergia consortium had formally presented the documents necessary to call
a Montedison shareholders meeting. "We have presented everything," he said on
the margins of a press conference to announce a joint venture with IBM. "As
regards our formal obligations, there is nothing more to do."
Italenergia, which on Monday declared it controlled 52% of Montedison's
capital, had called on Montedison to hold an extraordinary shareholders
meeting to kick out the current management. At a board meeting on Wednesday,
Montedison's board said it refused to call the meeting as the official
procedures were not correct.
*Italy Watchdog Undecided on Italenergia/Montedison
ROME (Reuters) - Italy's competition watchdog on Friday said it had yet to
decide if Italenergia's acquisition of a controlling stake of Montedison fell
under their jurisdiction to evaluate or the European Union's. "We are
evaluating first, as we always do, if we are the competent institution," said
Giuseppe Tesauro, the head of Italy's Antitrust on the sidelines of a
conference, in response to reporters questions on whether they will look into
the deal or the EU. "We have 30 to 45 days to decide."
Italenergia, which is lead by car maker Fiat and includes France's energy
giant EDF, on Monday declared it controlled 52% of agro-energy conglomerate
Montedison's capital.
*New Power Adds Customers With Two Deals
NEW YORK (Reuters) - New Power Co., a national energy provider partly owned
by powerhouse Enron Corp., said on Thursday it plans to make two separate
acquisitions that would increase its customer base by about 20% and raise its
visibility in Pennsylvania and Ohio. Financial terms of the agreements with
AES Direct, the retail marketing subsidiary of independent power company AES
Corp., and with CoEnergy, a unit of Michigan-based DTE Energy, were not
disclosed.
Purchase, New York-based New Power, a unit of NewPower Holdings Inc., said
the deals would add a total of 121,000 electric and natural gas customers. At
the end of the first quarter, it had about 631,000 customers, a company
spokeswoman said. New Power said it signed an agreement to buy AES Direct's
customer base and related assets, including natural gas inventory, supply and
transportation contracts as well as billing and customer service operations.
It also is buying Ohio-based customers from CoEnergy, gaining entry into
service areas of four additional utilities.
**************************************

REGULATORY & ENVIRONMENT
*Germany Sets Up Power Grid Competition Watchdog
BONN (Reuters) - Germany's federal cartel office is about to set up a
department to stamp out anti-competitive practices in power grid operations,
a spokesman said on Friday. "The department will deal with barriers to free
access to the electricity grids," spokesman Stefan Siebert told Reuters. "It
will take up its work this month and probably have four staff," he added.
Cartel office president Ulf Boege announced the installation of the
department in a speech issued along with the office's annual report on
Thursday. He said three years after market liberalization, established
utilities were still blocking competition. "These companies have developed a
whole array of measures to illegally prevent competition from taking place,"
he said.
There have been numerous complaints about excessive grid access and switching
fees along with other bureaucratic complications due to low voltage grid
owners owning the "last mile" to the customers' site or home use to
discourage alternative suppliers.
*Belgium Government Holding Up Gas Market Opening
AMSTERDAM (Reuters) - Belgium's move towards opening up its gas market to
competition is being slowed because of government delays in implementing key
legislation, a senior official of the country's energy regulator said on
Friday.
"Basically we are waiting for the decrees (from the government)," Jean-Paul
Pinon, director of technical operations for gas at regulator CREG, told
Reuters on Friday at the sidelines of a conference. "The Gas Act which is
expected to come in this summer gives an indication of how the market can be
organized, but it gives no indication of when this will happen - the decrees
will do that." Pinon said the government was presented with proposals in
October but had yet to give any indication of when it intends to publish the
decrees. "I am amazed the first decree has not been published yet. The market
is not liberalized because the decrees have not been enacted", he said. "The
Gas Act will give more freedom to liberalize through the decrees."
*Energy Regulatory Commission Judge Pushes for California Refund Plan Friday
WASHINGTON (Reuters) - Negotiations over refunds of billions of dollars for
Western electricity entered a critical stage Thursday, with the
administrative law judge overseeing the talks threatening to issue his own
plan Friday unless progress was made. Curtis Wagner, the chief judge at the
Federal Energy Regulatory Commission (FERC), also said a public hearing could
be quickly scheduled for Sunday or Monday if necessary to discuss his
proposed settlement plan for California and other Western states.
California has asked FERC to order refunds worth some $9 billion for alleged
overcharges for wholesale electricity during the past year. In total, the tab
for the region's demands runs closer to $15 billion, counting the states of
Washington, Oregon and others. Western states, plus independent generators,
major utilities and other parties, are involved in the refund talks.
*California Asks SEC to Review PG&E Utility Transfers
SACRAMENTO, Calif. (Reuters) - California's attorney general asked federal
regulators Thursday to scrutinize PG&E Corp. for potential abuses in the
transfer of billions of dollars from its bankrupt utility Pacific Gas and
Electric. Attorney General Bill Lockyer filed a petition in Washington D.C.
urging the Securities and Exchange Commission (SEC) to apply federal
regulatory oversight to determine whether the transfers helped trigger the
utility's decision to file for bankruptcy protection in April.
The SEC currently exempts San Francisco-based PG&E Corp. from almost all
requirements and review based on the holding company's position that it is an
interstate entity, Lockyer said. But the petition said because PG&E Corp.
controls more than $13 billion in assets outside California and is pursuing
business activities in at least a dozen other states it is open to federal
review under the Public Utility Holding Company Act.
*Bankrupt PG&E Seeks Approval to Pay Franchise Fees
SAN FRANCISCO (Reuters) - Pacific Gas & Electric Co. on Thursday said it
filed a motion with the U.S. Bankruptcy Court here for authorization to
assume more than $76 million in 510 franchise fee agreements with California
cities and counties. The utility, a subsidiary of San Francisco-based PG&E
Corp., filed for Chapter 11 bankruptcy protection on April 6. The company
needs the bankruptcy court's approval to make the franchise fee payments to
the cities and counties, most of which will be due in the first quarter of
2002, said Ron Low, a spokesman for the utility. A hearing on the motion is
set for July 31, he said
*EU Fears for Climate Deal After Australia Talks
SYDNEY (Reuters) - The European Union raised concerns about global climate
talks in mid-July on Friday after failing to bridge a gap with Australia over
how to deal with Washington's rejection of the Kyoto global warming pact. In
talks with a visiting EU delegation, Canberra stuck by its view the agreement
between industrialized countries to cut greenhouse gas emissions was dead
without U.S. support, Environment Minister Robert Hill said.
With Japan also preferring to bring the world's top polluter back into the
fold before pressing on with Kyoto, Belgian Energy Minister Olivier Deleuze
acknowledged it would be tough to win a consensus at the next world climate
talks in Bonn on July 16. "I think that in Bonn there should be negotiations
with success at the end with as many countries as possible and we don't have
this certainty today," Deleuze told reporters in Sydney.
**************************************

Full versions of these and other energy stories are available from Dow
Jones Interactive and Reuters Business Briefing

**************************************

Factiva Contact: Marc Donatiello, +1 609-627-2659,
marc.donatiello@factiva.com.
(Copyright (c) 2001, Dow Jones & Company, Inc.).
Homepage Address: http://www.factiva.com.

Commodities Review:Coffee Hits Another Low,$450/Ton Eyed
By Ian Stephenson and David Elliott
Of DOW JONES NEWSWIRES

07/06/2001
Dow Jones Commodities Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

LONDON -(Dow Jones)- Robusta coffee futures traded in London fell to another
fresh 30-year low Friday as the glut of coffee on world markets continued to
weigh on the market.
And the market is set to continue even lower short term, barring a frost in
Brazil, as further supplies come onto the market, traders and analysts said.
"The whole market is consumed with coffee, wherever you look it is there," a
Liffe coffee broker said.
"We're in a downward spiral and there's nothing out there to stop us going
lower still," said another broker.
Despite hovering above record low prices for some time, producers aren't
being deterred from producing or selling. And as the coffee continues to
trickle onto the market the gradual erosion in prices is set to continue,
with $450 a metric ton a possible target.
The benchmark September robusta coffee contract on Liffe ended at $540/ton
Friday, having set a new low of $532/ton.
"Technically the market is oversold but such considerations appear to have
little impact in the face of overwhelming supply of robusta (coffee). For
this reason, the chances of a meaningful recovery are slight and the talk of
$500/ton or $450/ton on (September) becomes even louder," one brokerage said
in its daily report.
Apart from the fall in the level of the Brazilian real, Liffe coffee is under
pressure from constant origin selling - with India, Uganda, Vietnam and India
all noted current sellers - and the lack of any frost in Brazilian coffee
growing regions.
And Brazil's coffee belt is seen safe from any crop damaging frost at least
until July 20, according to Sao Paulo weather forecasters Somar Meteorologia.
Temperatures may cool again from July 16, "but we're not calling for any
frost risk yet," said one Somar meteorologist Friday.
Brazil's frost season lasts into August, but as time ticks by, the risk of
crop damage recedes, traders said.
The Brazilian real's recent fall has been a major part of the recent falls on
Liffe coffee, traders said, encouraging producers to sell onto
dollar-denominated markets. Brazil is reported to have around 10 million-11
million bags of robusta coffee to sell, they said.
And the outlook for robusta coffee prices is no better long term, traders and
analysts said.
Some analysts had predicted that the low prices would cause producers to cut
back or to move out of coffee production, but with the vast increase in
Vietnamese production in the past 10 years, little impact is expected if
there are any cut backs, said others.
There are plans to remove less productive trees in Vietnam, but this is
likely to be offset by younger trees in more productive areas reaching
maturity, said one analyst.
In the long term, participants believe the low prices will see producers
being less able to add inputs, such as fertilizers and pesticides, which may
help to stabilize production, but this is unlikely to cause the dramatic
shift in supplies that is needed to lift world prices.
LME Copper Hits Two-Year Low As Stocks Surge
Elsewhere, London Metal Exchange copper fell to a fresh two-year low Friday
as early weakness was compounded by another steep invenventory hike before
strong trade buying and bargain hunting lifted prices for the close.
Speculator selling caused a sharp slump in the aluminum market overnight in
Asia and leant pressure to the already nervous copper market, but it wasn't
until the release of London Metal Exchange stock data that prices hit the
one-year low at $1,552/ton.
Copper stocks rose a further 6,525 tons Friday, bringing total stocks to
503,650 tons, a rise of 76,550 tons since June 22.
Although the move has been widely predicted, such substantial stock builds
will still have a bearish effect on prices short term, an LME floor dealer
said.
"You can't expect people to ignore stock jumps like this even if they have
been expecting them for a while," he said.
Unconfirmed talk is that major trade house Enron is behind much of the stock
build, in an effort to reduce the market's nearby supply tightness and
alleviate the large short positions they are thought to have built up on the
July-for-a-week spread.
When questioned, Enron declined to comment.
However, the builds aren't thought to be over yet, said a London-based
analyst, predicting that another 30,000 to 40,000 tons of copper are set to
enter warehouses over the next two weeks.
LME three-month copper ended the late kerb $2.75/ton higher at $1,562.75/ton.
-By Ian Stephenson and David Elliott, Dow Jones Newswires; 44-20-7842-9358;
ian.stephenson@dowjones.com -0- 06/07/01 17-00G


I was just trying to touch base after the lender call this morning and
debrief.  I thought you and John were great, particularly John's step-in on
the heat rate/degradation issue.  Thanks to both of you.

I also wanted to visit on the latest plan for the ridges.

Thirdly, I wanted to discuss your thoughts on the achievability of our
positions with SCC and Siemens.

Finally, we should circle up on the TAA once we get Cliff's response.  He led
me to believe that we really had little to fear in the discussion I had with
him.

Regards

Rob


EES seems to want to go to court on the PX Credit -- I believe we need to follow the tariff FIRST.  That involves going to the utilities and then to the CPUC if we can't work it out. If we don't do that first, the court will throw us out and make us do than anyway-- and WHY make that play -- it just raises everyone's temperature and gets them into fighting mode right off the start. Jeanne Bennett agrees with this but Laboeuf is giving EES this recommendation.


Attached is the TW Weekly for February 15, 2002.

Jan Moore
X53858


Any GCP adjustments will be highlighted in blue.

Best Rgds.

Samuel x3-9890 (GCP Team)
Enron Net Works _ Global Data Management

From: Walter Guidroz/ENRON@enronXgate on 04/17/2001 04:50 PM
To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tom
Moran/ENRON@enronXgate, Claudia Clark/HOU/ECT@ECT, William S
Bradford/ENRON@enronXgate, Lisa Lees/HOU/ECT@ECT, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ECT, Bernice Rodriguez/HOU/ECT@ECT, Bill D
Hare/HOU/ECT@ect, Amy Heffernan/Enron Communications@Enron Communications,
Molly LaFuze/Enron Communications@Enron Communications, Danny Clark/Enron
Communications@Enron Communications, Stephanie Panus/NA/Enron@Enron, Teresa
Mandola/ENRON@enronXgate, Bill Kyle/ENRON@enronXgate
cc:
Subject: EOL approvals, 04-17-01

Please see attached.


Dominik,

It was good to speak with you at the EEMF Forum; we all found your
presentation impressive and the responses to the questions finely tuned to
leave us thinking that we had been given priviledged access to information
when in fact we hadn't; what a pro!

As I said, my colleague Rick Shapiro (head of our global public affairs)  was
impressed and he was serious when he thought of you for our Frankfurt
office.  I am sure that if you showed interest, things could move quickly (or
even slowly, if that's what you wanted) and any particular circumstances that
you had would be taken into account.  I can certainly attest to the welcoming
nature of Enron.  have a think about it, and if you want to folow up, on a
completely informal and no commitment basis, let me know.  Even if you do not
want to leave, it's good to know what your market worth is!!

Lunch some time?

Brendam


I would slightly modify the First and Second Floating Amount definitions as
follows.

An amount equal to $2,787,500 plus the sum of the products of (i) the First
Floating Price for each day during the Calculation Period and (ii) the
Notional Quantity per Calculation Period.

An amount equal to the sum of the products of (i) the Second Floating Price
for each hour during the Calculation Period and (ii) the Notional Quantity
per Calculation Period.

Let me know if you think this works.
Regards,
Brent

	Melissa Ann Murphy@ECT
	05/16/2001 04:41 PM

		 To: Chris H Foster/Enron@EnronXGate
		 cc: Sara Shackleton/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron
		 Subject: Merchant Energy Deals

I have attached the new drafts below:

Let me know if any further changes are needed.

Thanks,
Melissa
(713) 853-1886


I hope you get to feeling better.  I go to Chicago tonight for the night and
then back tomorrow.  Take care of yourself.  I told you whoever took  Florida
would win the election.

Dad


To celebrate the end of another semester (and the Program for some), I looked
into purchasing a block of tickets to a SF Giants game at Pac Bell Park.? We
have the opportunity to purchase up to 90 tickets at $16/ticket for the game
against the New York Mets on Sunday, May 13th at 1:05pm.? Seats are in the
View Reserved Area (i.e., upper deck).

* * Please let me know ASAP how many tickets you would like. * *?

Feel free to invite friends and family as well.? I will place the order based
on your initial response, so only respond if you are definitely interested.?

GO GIANTS!

- Carolyn

Carolyn M. Vavrek
Manager - Human Capital Advisory Services
Deloitte & Touche
50 Fremont Street
San Francisco, CA? 94105

phone: 415-783-5137
fax: 415-783-8760
e-mail: cvavrek@deloitte.com

This message (including any attachments) contains confidential information
intended for a specific individual and purpose, and is protected by law.? If
you are not the intended recipient, you should delete this message and are
hereby notified that any disclosure, copying, or distribution of this
message, or the taking of any action based on it, is strictly prohibited.


industrial demand the scary thing.  no question there are some steel mills
and auto factories and plastics plants that were on last november that arent
coming up now and its not due to gas prices.  the economy sucks and it will
affect ind demand.

slafontaine@globalp.com on 02/28/2001 08:03:43 AM
To: John.Arnold@enron.com
cc:
Subject: Re: mkts

at least a myn dollars-need to talk to pira on that. excellant point. need to
do
some margin analyses . having said all that look at corporate earnings from
last
year to this year regardless of natgas costs as a feed industrials will be
running slower and consumers just now feeling the pinch as rate increases have
only just recently gotten approved and passed to the likes of us and people
less
fortunate than us.

John.Arnold@enron.com on 02/27/2001 11:05:40 PM

To:   Steve LaFontaine/GlobalCo@GlobalCo
cc:
Fax to:
Subject:  Re: mkts

but that's my point.  the demand destruction roared its ugly head beginning
of Jan.  The price level was $9.  Of course there is a lag.  Let's make up
a lag time...say one month.   On Dec 1 cash was trading $6.70.  Probably a
similar lag on the way down.  Cash is $5.20 today.  How much lost demand
will there be in a month if we're still $5.2?   million dollar question if
you can answer that.

slafontaine@globalp.com on 02/27/2001 08:12:32 PM

To:   John.Arnold@enron.com
cc:
Subject:  Re: mkts

off the cuff i wud say tho same goes for 5.00 gas-currently 6-7 bcf/day
swing y
on y too much, to buy this level you need to take the view that industrial
america and residential and end users will be able to get back on their
feet and
recocover a lion share of the 4-4.5 bcf/d demand destruction(this assumes
as
current. very little if any dist fuel switching. i think the answer is
no-not
unless the economy was jump starter quickly-2nd q is gone,so maybe th 4q.
 remember the demand destruction and industrial shit really just started
only 6
weeks ago-me thinks it will take longer than that to get back into full
swing.
we all trade the y on y gap...all things remaining equal(ie term px for the
summer), starting april we'll have a surplus the other way by july barring
a
greenhouse in the ohio valley
    good to hear your view pt as always-even if it is wrong!!! ha

John.Arnold@enron.com on 02/27/2001 08:23:22 PM

To:   Steve LaFontaine/GlobalCo@GlobalCo
cc:
Fax to:
Subject:  Re: mkts

Good to hear from you.
After a great F, had an okay G.  Held a lot of term length on the
risk/reward play.  Figured if we got no weather, all the customer and
generator buying would be my stop.  It was.  Amazing that for the drop in
price in H, the strips have really gone nowhere.  just a big chop fest.
i here your arguments, but think they are way exagerated.  Agree with 1.5-2
bcf/d more supply. Call it 2 with LNG.  Imports from Canada should be
negligible.  Now let's assume price for the summer is $4.  No switching,
full liquids extraction, methanol and fertilizer running.  Electric
generation demand, considering problems in west and very low hydro, around
1.5 bcf/d greater this year with normal weather.  Means you have to price 2
bcf/d out of market.  Don't think $4 does that.  What level did we start
really losing demand last year?  It was higher than 4.   concerned about
recession in industrial sector thats occuring right now.
Think gas is fairly valued here.  Dont think we're going to 7.  But I think
fear of market considering what happened this past year will keep forward
curve very well supported through spring.  we're already into storage
economics so the front goes where the forward curve wants to go.

slafontaine@globalp.com on 02/26/2001 04:48:06 PM

To:   jarnold@enron.com
cc:
Subject:  mkts

its been a while-hope all is well. not a great few weeks for me in ngas-not
awful just nothing really working for me and as you know got in front of
march/apr a cupla times, no disasters.
   well im bearish-i hate to be so after a 4 buck drop but as i said a
month ago
to you-and now pira coming around. 5.00 gas is a disaster for the natgas
demand.
now production up strongly y on y...you guys agree on the production side?
  i know youve been bullish the summer-think im stll in the minority-but
here
you go, we have y on y supplly up 2/bcf+ demnad loss 3.5bcf/d, 5.5 bcf/day
y on
y swing . then i submit as we started to see due huge rate increases R/C
demandd
energy conservation will be even more dramatic this summer which will
effect
utilty demand/power demand ulitmately.  if pira rite we lost 1.56 in jan
for
this factor i say it cud be bigger this summer as ute loads increase, power
pxes
rise and consumers become poorer. there will be more demand flexibilty in
the
summer part in the midcon and north as AC is more of a luxury item than
heat. i
say 5-6% lower use in residentail/utilty power consumption due rationing is
another .7/1bcf/d loss.
  put all this together we wud build an addional 1284 apr thru oct on top
of
last years 1715  build basis last year temps and todays prices. takes us to
3.6
tcf or so. what am i missing my man-summer has to go to 4 bucks or lower to
restore demand??? thots.

as far as that other thing, the p&c its still alive, shud know more soon
and ill
keep you posted.


yes, we might be interested.  can we talk next week?


Sen Wyden called Jeff Skilling and I subsequently spoke to his staffer,
Joshua Sheinkman.

As you know, Wyden wants to introduce legislation to facilitate disclosure of
operating information about the electric grid and is now looking for more
details.  Wyden is not interested in pressing for additional disclosure of
financial information.
The additional details they are looking for include: what information should
be made available; when should it be made available, how should it be made
available and who should make it available.  On this last point, I suggested
that the legislation should apply to the transmission system operator,
whoever that is (i.e. it could be an investor owned utility, a publicly-owned
utility, an ISO or an RTO).  I also pointed out that FERC could make this
happen by itself, except in the case of public utilities like BPA.  Extending
FERC jurisdiction to these entities could be among the main benefits of the
legislation.
Alan, please pull together the recommendations on each of these issues and
forward to Linda. Linda, after we have the information (and perhaps some
legislative language to go with it) please forward to Joshua at
joshua_sheinkman@wyden.senate.gov.
Wyden would like our help in getting Sen Nickles to cosponsor the
legislation.  (Linda)
It may also be useful to suggest a letter from wyden to FERC asking them to
use their existing authority to start these disclosures as soon as possible
for those entities wver which they have jurisdiction. (Linda and Joe)


Peter and Greg:

We are holding LC's that expire at the end of December with respect to the  following counterparties:

EPCOR Energy Services (Alberta) Inc. ($25 million)(physical)
Engage Energy Canada LP ($!9 million)(financial)

I am assuming that you are aware of this situation and are handling it.

Carol St. Clair
EB 4539
713-853-3989 (phone)
713-646-3393 (fax)
281-382-1943 (cell phone)
8774545506 (pager)
281-890-8862 (home fax)
carol.st.clair@enron.com


I will be out of the office from December 14th until next year.  In my absence, your New HR Rep will be Terry Bosien at Ext 35230 and Sonja Galloway at Ext 35796 will assist her.  Thanks and Happy Holidays to all of you.

Sheila Walton


Thanks.  You can tell Phillip I'll have it fixed when I return on Monday.

DG

Anne Bike@ENRON
11/02/2000 03:18 PM
To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: Phillip buzzed about the YTD reconciliation

Darron:  Phillip called about the reconciliation, Jason told him that you
took it with you.  Just wanted to let you know Phillip was thinking about
you.  (Ha !) Thanks for your help yesterday.  All in all a smooth day.  Have
a great weekend.

Anne


John:  The Duke issue has arisen once again in connection with the
settlements group.  Did you ever resolve the issue?
Apparently, two (2) identical trades were executed online on 9/11/00, one at
1:14 pm and the second at 1:28 pm.  Duke agrees wtih the first trade but not
the second.  Please bring me up to date.  Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 10/19/2000 10:48 AM -----

	Sara Shackleton
	09/28/2000 09:55 AM

		 To: John Arnold/HOU/ECT
		 cc: Kevin Meredith/Corp/Enron@ENRON, Larry Joe Hunter/HOU/ECT@ECT
		 Subject: EOL Duke Deal - commercial resolution  FOLLOWUP

John:  I spoke with  Kevin Meredith this morning.

1)  Trade Date was 9/11.  EOL system generated confirm 9/12.  All fax
attempts failed until 9/26 when fax went through.

2)  EOL daily volume excessively heavy (approx. 1400 confirms per day).  Duke
volume extremely heavy as well. All Duke faxing  unsuccessful.

3)  Duke called Kevin and said "haven't received any confirms since 9/14."
Kevin hand faxes all confirms since 9/14.  Duke makes no mention of confirms
prior to 9/14.  Confirm desk runs a "fax failed" report on 9/25 and picks up
the missing confirm.

4)  When Duke receives EOL 415670, John Miller (who seems to be the TRADING
SUPERVISOR) calls Kevin (who signed confirm as agent) several times.  Miller
says that he has spoken with the traders and no one did this deal.  However,
this deal shows up on the "back office user."

Let me know if you need anything further.  Kevin's number is 39555.  Sara

----- Forwarded by Sara Shackleton/HOU/ECT on 09/28/2000 09:39 AM -----

	Sara Shackleton
	09/27/2000 07:06 PM

		 To: John Arnold/HOU/ECT
		 cc: Kevin Meredith/Corp/Enron@ENRON
		 Subject: EOL Duke Deal - commercial resolution

John:  Per our conversation, attached is the copy of the Duke confirm.  The
Duke trader is John Miller (713/260-6541).
I am told by our confirm desk that the faxing of the confirm was attempted on
September 11 and every day thereafter until September 26 when the Duke fax
lines were open.  Upon receipt, John Miller called our confirm desk alleging
that he never did the deal (the EOL "back office user" shows that the trade
WAS done).
Please let me know if you need legal assistance.
Thanks.  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 09/27/2000 06:59 PM -----

	Kevin Meredith@ENRON
	09/26/2000 02:09 PM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc:
		 Subject: EOL Duke Deal

Sara,

The Duke trader that selected this deal is KRBARBER.  This is how the
information shows up in the EOL server that I use.


I have been asked to coordinate a standing monthly meeting for the Art
Committee.  We have scheduled the first meeting for Monday, January 8th, from
4:00 - 5:00 p.m. in conference room, EB 3321.  Please check your calendar and
let me know by return e-mail if you will be available for this meeting.  In
addition, please let me know if every second Monday at 4:00 p.m. will work
for you as a standing meeting date and time.

Please let me know if you have any questions.  Thank you very much for your
assistance.

Cathy Phillips
713-853-6898


Hello all,

I have attached an amendment request for Breitburn Energy Company LLC's
existing Master. If you have any questions, please feel free to call.

Best regards,

Brad
ext. 57749


Move Request number 4544 has been submitted to the move team for processing.


----- Forwarded by Aleck Dadson/TOR/ECT on 04/23/2001 06:00 PM -----

	"Todd Letts" <tletts@bot.com>
	04/23/2001 05:23 PM

		 To: "Tom Drolet" <tdrolet@interlog.com>, "Todd Letts" <tletts@bot.com>,
"Terri Lohnes" <tlohnes@bot.com>, "Suzanne Ferhetz" <sfer@dteprobyn.com>,
"Steve Dorey" <steve.dorey@hydroone.com>, "Stephen Probyn"
<sprobyn@probyngroup.com>, "Stephen Andrews" <sandrews@torontohydro.com>,
"Robert T. Correll" <bcorrell@kpmg.ca>, "Rob McLeese"
<robmcl@access-capital.com>, "Policy Admin" <policyadmin@bot.com>, "Matthew
Akman" <matthew.akman@cibc.ca>, "Madeline Calaminici"
<madeline.calaminici@hydroone.com>, "Lee Harrison" <convergent@idirect.com>,
"John Ecker" <jecker@bot.com>, "John Brooks" <jbrooks@torontohydro.com>, "Jan
Carr" <jcarr@acres.com>, "Gunars Ceksters" <gceksters@hydromiss.com>,
"GIGLIOTTI Timothy -CRP+ENVL AFF" <tim.gigliotti@ontariopowergeneration.com>,
"David Rudd" <daverudd@mybroker.com>, "David Reid" <ontel@interlog.com>,
"David J McFadden" <djmcfadden@smithlyons.ca>, "Chris Hanlon"
<chanlon@ecng.com>, "Al Findlay" <al.findlay@iemo.com>, "Aleck Dadson"
<aleck.dadson@enron.com>
		 cc:
		 Subject: TBOT Release re: today's announcement

Attached is the Toronto Board of Trade's response to today's  announcement by
the Energy Minister re: a May 2002 opening or  earlier.
Cheers,
Todd
 - electricity-openingdate-release_.doc


Please notice the individual assignments.  Let me know if you have any
questions or concerns.

Thanks - Jeff


Reminder to meet at Cafe tonight at 8:00.

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


Wonderful! I hadn't received an e-mail back from her so I didn't think she
had talked to them. Great, I'll share whatever information I have with you
guys!

Kenneth Lay@ENRON
09/09/99 03:58 PM
Sent by: Rosalee Fleming@ENRON
To: Elizabeth Lay/HOU/AZURIX@AZURIX@ENRON_DEVELOPMENT
cc: "Linda Lay" <mrslinda@lplpi.com>@AZURIX, Sally Keepers/Corp/Enron@Enron

Subject: Re: Band

Hi Liz -

I called your Dad to tell him about your e-mail and the band.  He is in Vail
today.  He asked me to call to try to lock in the band, but they have already
had a call from Linda Kessler, so they are getting a quote to her today and
hopefully a contract by tomorrow.  I think that is all o.k.  I talked to
Jennifer.   I'll fax your Dad the e-mail tonight, so he can see the rest of
it.

Take care!

Rosie

Elizabeth Lay@AZURIX
09/09/99 01:53 PM
To: Kenneth Lay/Corp/Enron@Enron
cc: "Linda Lay" <mrslinda@lplpi.com>
Subject: Band

 Dad, & Linda-
Can you go ahead and contact the band, I sent an e-mail to the wedding
coordinator and she has not responded (she is new to e-mail) and I'm afraid
we might lose them. Also, she recommended a photographer out of Atlanta, I
love his work, he does candid more so than the traditional portraits. He also
did a number of the Kennedy's weddings, etc. I'll try and get a price quote,
but I might need your help in negotiations. Also, she send some information
on a decorator/ florist who seems phenomenal, I don't know if Linda might be
willing to help me out with that as she knows a lot more about both flowers
and decoration than I do. The Ballroom at the Ritz is pretty basic and he can
turn it into anything but basic. Also, that we if we find a church that is
not so amazing, he can decorate that as well.
The name of the photographer is Dennis Reggie and his number is 404-
873-8088.  Linda Kessler has all the information on the florist, her number
is 888 524 1326.
Mom is going to be responsible for the RSVP's for the wedding.  I will get a
fax machine this weekend.
Let me know if this is a problem and I will try and arrange some of this from
down here, it is just difficult for people to call internationally.
I love you!
Liz & Jose Luis


Question:
For the engine cake do you use the recipe for the ganache on there or a different one?
I was planning on trying their recipe.
Tonight i'm going to measure out everything.  I'll keep you updated.

"Dennis Priese" <dpriese@worldnet.att.net> on 04/30/2001 06:11:52 PM
To:	"monique sanchez" <monique.sanchez@enron.com>
cc:
Subject:	cakes

Did you get a chance to try those recipes yet?How was Vegas?  We had a pretty good time.Let me know how your doing.    Den


---------------------- Forwarded by Mike Carson/Corp/Enron on 05/22/2000
10:39 AM ---------------------------

mjmoreland@aep.com on 05/22/2000 09:23:47 AM
To: mike.carson@enron.com
cc:

Subject: advice

---------------------- Forwarded by Marcus J Moreland/OR4/AEPIN on 05/22/2000
10:20 AM ---------------------------

Rusty Parks <r.parks@jmiinc.com> on 05/18/2000 09:47:50 AM

To:   "'Ann Steed'" <AMSteed@medi-flex.com>, "'Cronin, Brian'"
      <bcronin13@hotmail.com>, "'Elizabeth Grady'" <ejg73@hotmail.com>,
"'Fine,
      Todd & Dani'" <dtfine@u-n-i.net>, "'Folks'" <c_r@kanza.net>, "'Hammons,
      Carey'" <careyh@resumeexpert.com>, "'Hammons, J. P.'"
      <landphil@terraworld.net>, "'Hammons, Josh'" <jjhammons@yahoo.com>,
      "'Hammons, Kelly'" <khammons@gfsiinc.com>, "'Huber, Brian'"
      <sharpblade@mail.com>, "'Massieon, Andy'" <ANMInvest@yahoo.com>,
      "'Massieon, Lynn'" <lmmassieon@dstsystems.com>, "'Massieon, Mark'"
      <mrmassieon@farmland.com>, "'Moreland, Kimberely'"
      <kmoreland@structure.com>, "'Moreland, Marcus'" <mjmoreland@aep.com>,
      "'Tanya & Josie'" <TANNER1225@aol.com>, "'Vossen, Christy'"
      <c.vossen@jmiinc.com>, "'wade johnson'" <huskers@ckt.net>, "'Warman,
      Matt'" <m.warman@jmiinc.com>
cc:

Subject:  advice

Dear Abby,
I am a sailor in the United States Coast Guard. My parents live in the suburb
of
Philadelphia and one of my sisters, who lives in Bensonhurst is married to a
transvestite. My Father and Mother have recently been arrested for growing and
selling marijuana and are currently dependent on my other two sisters, who are
prostitutes in Jersey City. I have two brothers, one who is currently serving
a
non-parole life sentence in Attica, for the rape & murder of a teenage boy in
1994, the other currently being held in the Wellington Remand Center on
charges
of incest with his three children.
I have recently become engaged to marry a former Thai prostitute who lives in
the Bronx and indeed is still a part-time "working girl" in a brothel,
however,
her time there is limited as she has recently been infected with an STD.  We
intend to marry as soon as possible and are currently looking into the
possibility of opening our own brothel, with my fiancee utilizing her
knowledge
of the industry working as the manager.  I am hoping my two sisters would be
interested in joining our team.  Although I would prefer them not to
prostitute
themselves, at least it would get them off the streets and, hopefully, the
heroin.
I love my fiancee and look forward to bringing her into the family, and of
course I want to be totally honest with her.  This is my dilemma:  Should I
tell
her about my cousin who graduated from RICE University?

Signed, Worried about my reputation


FYI.  Please keep confidential until further notice.  Important to note that this was delivered with the understanding that NO ONE has agreed to the specific language.  It was a quick turn around (at Hertzberg's request) to get the original, negotiated agreement into Legislative language (i.e., Martian) as soon as possible so that Hertzberg could try to move on it in the Legislature as soon as possible.

In addition, the Commission is likely to come out with its proposed "rate agreement" sometime this week, and is likely to release DWR's "revenue requirement" next week.  I heard from the Gov's financial advisor that Edison and DWR EACH want 2 cents out of the PUC's recent 3 cent rate increase.  It's going to get very interesting from here.

Best,
Jeff

----- Forwarded by Jeff Dasovich/NA/Enron on 07/10/2001 04:11 PM -----

	"Simpson, Rick" <Rick.Simpson@asm.ca.gov> 07/10/2001 04:12 PM 	   To: "'dhunter@s-k-w.com'" <dhunter@s-k-w.com>, "Simpson, Rick" <Rick.Simpson@asm.ca.gov>  cc: "'Barbara Barkovich (E-mail)'" <brbarkovich@earthlink.net>, "'Dominic DiMare (E-mail)'" <dominic.DiMare@calchamber.com>, "'Dorothy Rothrock (E-mail)'" <drothrock@cmta.net>, "'John Fielder (E-mail)'" <fieldejr@sce.com>, Gary.Schoonyan@sce.com, "'Phil Isenberg (E-mail)'" <isenberg@hmot.com>, "'Jeff Dasovich (E-mail)'" <jdasovic@enron.com>, "'Keith McCrea (E-mail)'" <kmccrea@sablaw.com>, "'Linda Sherif (E-mail)'" <lys@a-klaw.com>, "'Linda Sherif (E-mail 2)'" <lysherif@yahoo.com>, "'John White (E-mail)'" <vjw@cleanpower.org>, Ann.Cohn@sce.com, "Mike Kahl (E-mail)" <mikahl@ka-pow.com>  Subject: RE: Final Legislative Language

You all are awesome.  Many thanks.

-----Original Message-----
From: Delaney Hunter [mailto:dhunter@s-k-w.com]
Sent: Tuesday, July 10, 2001 1:56 PM
To: Rick.Simpson@asm.ca.gov
Cc: 'Barbara Barkovich (E-mail)'; 'Dominic DiMare (E-mail)'; 'Dorothy
Rothrock (E-mail)'; 'John Fielder (E-mail)'; Gary.Schoonyan@sce.com;
'Phil Isenberg (E-mail)'; 'Jeff Dasovich (E-mail)'; 'Keith McCrea
(E-mail)'; 'Linda Sherif (E-mail)'; 'Linda Sherif (E-mail 2)'; 'John
White (E-mail)'; Ann.Cohn@sce.com; Mike Kahl (E-mail)
Subject: Final Legislative Language

Rick-
Attached please find our final draft of legislative language per your
request. We are ready and willing to draft other sections or language as
needed by you or the Speaker. Please feel free to contact me if you have any
questions about the draft. Please note there are disagreements over two
sections of language and they are so marked.

FYI - I will be sending this document out to the entire Working Group for
their information.

Thank you,
Delaney

 - FINAL Legislative Language.doc


Jeff,

Thanks for the invite.  Yes, we would like to participate in the conf. call.  The only definite conflict I have is on Dec. 3 & 4 as I will be traveling to SF for SoCal's BCAP PHC. Let me know the scheduled time etc, as I will probably have some of our regulatory people also sit in on the conference.  Thanks again.

Glen

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Wednesday, November 21, 2001 4:55 PM
To:	Tycholiz, Barry; Tribolet, Michael; Mellencamp, Lisa; Hass, Glen; Miller, Stephanie; Tholt, Jane M.; Lawner, Leslie; Cantrell, Rebecca W.; Steffes, James D.; Novosel, Sarah; Harris, Steven; Fossum, Drew
Subject:	Conference Call with PG&E to Discuss the Gas Portion of Its Proposed Plan of Reorganization that It Will File w/FERC Toward End of November

PG&E called.  They want to set up a conference call to brief us on the gas piece of their POR that they'll be filing with FERC around November 30th.  They want to try to do it in the next couple of weeks. Please let me know if you're interested and please pass this along to anyone else who might be interested.  Thanks.

Best,
Jeff


Wanna go to the rodeo barbeque cookoff, we've got a tent.
The dates are Feb 7, 8 & 9. I'll give you more details when I find out.
I'll probably go thurs or friday. Lemme know if you want to go!

Kay


FYI,   hgm
---------------------- Forwarded by Hector McLoughlin/Corp/Enron on
08/02/2000 02:31 PM ---------------------------

	Enron North America Corp.

	From:  Sheila Walton @ ECT                           08/02/2000 08:22 AM

To: Hector McLoughlin/Corp/Enron@Enron, Norma Villarreal/HOU/ECT@ECT
cc:

Subject: Status Report - ENA NI/Issues - Manager/Director Level

FYI
---------------------- Forwarded by Sheila Walton/HOU/ECT on 08/01/2000 08:20
PM ---------------------------

	From:  Sheila Knudsen @ ENRON                           08/01/2000 06:30 PM

To: Cindy Skinner/HOU/ECT@ECT, Sheila Walton/HOU/ECT@ECT, Kim
Melodick/HOU/ECT@ECT, Fran L Mayes/HOU/ECT@ECT
cc:
Subject: Status Report - ENA NI/Issues - Manager/Director Level

Per Dave's note below - sounds like he want to insure the managers are
staying on top of this and wants proof.  Please keep working with the
managers and push this through.  Any that you have now, please forward to me
so I can update the status report and forward to Dave.

Thanks

Sheila

David W Delainey@ECT
08/01/2000 06:13 PM
To: Sheila Knudsen/Corp/Enron@ENRON
cc: Cindy Skinner/HOU/ECT@ECT, Sheila Walton/HOU/ECT@ECT, Kim
Melodick/HOU/ECT@ECT, Fran L Mayes/HOU/ECT@ECT, Mark Frevert/NA/Enron@Enron,
John J Lavorato/Corp/Enron@Enron

Subject: Status Report - ENA NI/Issues - Manager/Director Level

Shelia, to ensure we are all on the same page, I am looking for a copy of the
review plus a written plan to rectify performance or counsel out from each
supervisor.

Regards
Delainey

---------------------- Forwarded by David W Delainey/HOU/ECT on 08/01/2000
06:10 PM ---------------------------

	From:  Sheila Knudsen @ ENRON                           08/01/2000 05:33 PM

To: David W Delainey/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT
cc: Cindy Skinner/HOU/ECT@ECT, Sheila Walton/HOU/ECT@ECT, Kim
Melodick/HOU/ECT@ECT, Fran L Mayes/HOU/ECT@ECT
Subject: Status Report - ENA NI/Issues - Manager/Director Level

Attached is a report reflecting the status of ENA Manager/Director level
employees who were rated either Needs Improvement or Issues at the mid-year
process.

We will update this report on a weekly basis.

Let me know if you have any questions regarding this - X36628.


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I am no longer at Enron and am available at sanjaybhatnagar00@yahoo.com. My
US mobile after 15th March will be 832-368-4164 and my mobile in India is
91-98102-67215 when I am in India.


The Enron Health Center has remained in contact with our Occupational
Medicine Advisor and the Houston Public Health Dept. regarding the meningitis
outbreak and recommendations for vaccinations.  At this time, the Houston
Public Health Department does not consider the present cases of  meningitis
as an epidemic.? They have provided us with the following guidelines based on
input from the Centers for Disease Control (CDC).
?
The CDC has defined the highest risk groups as  the following:
1. children less than 2 years of age
2. groups of individuals living in confined spaces, i.e. college dorms and
military recruits
3. individuals that are  immunocompromised
4. individuals with a damaged spleen or no spleen
5. travellers to sub Saharan Africa or the Middle East
6. close contact with infected individuals through sneezing, coughing, or
saliva exchange.
?
The CDC has described an outbreak as 10 cases per 100,000  population during
a period of 3 months.? They recommend vaccinating high risk individuals
living in?high risk areas.? However, mass vaccination for individuals not
living in those areas is not recommended at this time.?
?
In order to assist Enron employees that are living in high risk areas
(Conroe, New Caney, Kingwood) we are attempting to obtain the meningitis
vaccine.  If you are interested in the Enron Health Center providing the
vaccine to self and family members (dependants over the age of 2 years)
please contact the Health Center at  X36100 so that we may calculate the
amount of vaccine we will need to have available and to set up appointments.
We calculate the employee cost of the vaccine to be approximately $85.00.

If anyone is concerned about a previous exposure from someone  in the high
risk area, they should contact their primary care physician  regarding
vaccination or the Texas Department of Health. The Texas Department of
Health's website  for information regarding meningitis is
www.tdh.state.tx.us/.


The price should be 3.56.  There had been alot of price and volume
discussions for this gas day and 8/1/00.  I checked the notes and found that
we actually settled at 3.56 instead of 3.58.

D

Katherine Herrera@ENRON
10/05/2000 08:11 AM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: July Pricing discrepancy :Sell to Tenaska Marketing, Deal # 399791

Daren-

Sell to Tenaska Marketing
July Deal # 399791

Tenaska is indicating that the sale for July 2000 should be priced at $3.56.
Could you confirm our sale price should have been $3.58?

---------------------- Forwarded by Katherine Herrera/Corp/Enron on
10/05/2000 08:03 AM ---------------------------

Kristen J Hanson@ECT
09/15/2000 09:37 AM
To: Katherine Herrera/Corp/Enron@ENRON
cc:

Subject: Re: Cleburne Plant

FYI- The purchase invoices have arrived and were given to Megan. Please feel
free to call Darren with any questions.
Thanks,
Kris

Daren J Farmer
09/13/2000 04:01 PM
To: Rita Wynne/HOU/ECT@ECT, Kristen J Hanson/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON, Julie Meyers/HOU/ECT@ECT, Bob M Hall/NA/Enron@Enron,
David Baumbach/HOU/ECT@ECT, Steve Jackson/HOU/ECT@ECT, Mark
McCoy/Corp/Enron@Enron
cc:
Subject: Cleburne Plant

Well, folks, the Cleburne deal has started.  The deal has not been finalized
through legal.  However, we were able to "get between" a few deals and make
some money before we finalized it.  The Cleburne plant was down 7/31-8/7 and
8/31.  On these dates, we bought gas from Tenaska IV Texas Partners and sold
to ANP and Tenaska Marketing.  Because things were not set up, I could not
enter the deals until now.  Please review the following deals and settle with
the customers.

Buy from Tenaska IV
 July 399763
 Aug 399773

Sell to Tenaska Marketing
 July 399791
 Aug 399797

Sell to ANP
 Aug 399814

The trading desk these are on is "ENA-IM Cleburne".

Kris - I have forwarded invoices from Tenaska IV to you via intercompany
mail.  (I received both invoices this week)

 I am sure there are questions, just give me a call.  Tanks.

D


Ina,

You can book my flight from Houston with everyone else. Sorry for the pain of having to wait on me.

Dutch


ETS Intranet Consolidation Project Updates (www.ETS.enron.com)
What is the status of the consolidation?

Completed Sites:
The core ETS Intranet Site, www.ets.enron.com
ETS Solution Center
http://www.ets.enron.com/Services/Solution_Center/default.htm
Self-Directed Task Force http://www.ets.enron.com/Services/SDWT/default.htm

Sites in Progress:
Safety Site http://www.ots.enron.com/safety/default.htm
Design and Records Management
Engineering Standards http://www.ots.enron.com/docs/stds/0000-1.htm

How will this consolidation affect me as a user? As we roll out new sites,
any bookmarks to the old sites will need to
be modified.  If you navigate to an old site, you will see a redirect message
requesting that you update your bookmarks and a link to the new site.

What are the next steps?
The Intranet team will be contacting Webmasters with content or applications
on the current ETS website (www.ots.enron.com)
to discuss the migration.  All content and applications on this web server
will be moved to the new ETS Intranet before the end of the 2nd quarter.

Questions
LaDonna Dervin is the project manager for the project and can be reached at
713.853.7103 if you have any questions regarding the project.

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


LAST CALL for BUSINESS HIGHLIGHTS AND QUOTES for this week's EnTouch Newsletter.

Please submit your news by 12 noon today.

Thanks!
Kathie Grabstald
x 3-9610


With ECS (Enron Center South) rapidly approaching completion, Enron is forced
to change the numbering scheme on the existing Stentofon system.  To increase
our capacity to support this expansion, we must increase the number of valid
Stentofon address numbers.  Enron currently uses 100, 200, 300, 400, 500, 600
and 900 series numbers for the addresses.  In order to add more addresses to
the system, Enron will be converting the dial plan from a three digit dialing
system to a four digit dialing scheme on the Stentofon system.  This
conversion is scheduled to occur on the weekend of May 18th.

In efforts to minimize confusion, we will convert all Stentofon addresses in
EB1 to a 4000 series number.    (i.e.  If your Stento number was 364, then
your new number will be 4364.)  We will also change all speed dials to
reflect the new dialing scheme.  Please instruct the users within your group
of this change.

Thank you for your understanding and cooperation.

Regards,
Darren Adamik
Mgr.-Trading Technology
Enron Net Works, LLC
713.853.4764 Office
713-853-9828 Fax
mailto:darren.p.adamik@enron.com


Tana:  The following people have requested a link;

Donna Lowry
Shemeika Landry
Shelli Smith

Shemeika and Shelli work with Donna in risk analytics.

Thanks.

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


Tana -

I finalized the Tradespark NDA since I know you are busy with Prebon.
Michael Bridges called me this morning wondering where the final was.

If you could print the attached on the proper letterhead, I will initial it
and we can get it to Michael.

Thanks.

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


Mr. Chrismer,
Attached for your review is a draft of the Schedule and Paragraph 13 to the proposed ISDA Master Agreement between Enron North America Corp. and Solvay Paperboard.  Please note that the actual ISDA Master Agreement and Credit Support Annex are preprinted forms from ISDA and cannot be sent electronically.  Therefore, I am also sending the entire package to you via overnight delivery.

If you have any questions or comments, please contact me at the below number or Sara Shackleton, Assistant General Counsel, at 713-853-5620.  We look forward to hearing your comments.

Stephanie Panus
Senior Legal Specialist
Enron Wholesale Services
1400 Smith Street, EB3803C
Houston, Texas  77002
ph:  713.345.3249
fax:  713.646.3490
email:  stephanie.panus@enron.com


To all:

Last night I spoke with Trevor Milhalik about the cash distribution which would normally occur at the end of the year.  The most viable and quickest way to get the cash we felt was to increase the revolver from $35 MM to $70 MM because, as stated below, there exists significant current capital needs to fill the Enron #1 storage cavern.  However, even still, this would only ensure a cash distribution at the end of December - the normal schedule for the partnership.

There may be one more possiblity.  We could reapproach the board about the prior structure of levering up Bridgeline in order to extract cash from the joint venture - it failed last year because Texaco did not want the cash.  It may different now that Chevron is involved, but I doubt it.  My guess is that senior management (i.e. Louise) would have to put pressure on the appropriate channels.  I would rather pay a "premium" to Chevron/Texaco for levering Bridgeline than entering in a series of park-and-lend arrangements because we could get more cash up front. In addition, any park-and-lend arrangements could have negative earnings impacts contingent upon the shape of the NYMEX.

Regards,
Jean

 -----Original Message-----
From: 	Redmond, Brian
Sent:	Friday, October 26, 2001 9:44 AM
To:	Kitchen, Louise; Hodges, Georganne
Cc:	Colwell, Wes; Mrha, Jean; Washington, Deanna
Subject:	RE: Bridgeline Cash and AR

To all:

As of today, Bridgeline has $14MM of cash and expects to get $15MM from the payment of Oct receivables by the end of the month.  They have fully drawn down the $35MM revolver that we put in place earlier this year.  Trevor Mihalik (Bridgeline CFO) is preparing a cashflow forecast for Bridgeline from now to the end of the year and next year.

Bridgeline's major cash needs are to fund working capital (payables and margin calls) and to purchase gas that must be used to dewater the storage cavern (Enron #1) that we contributed to the partnership.  The dewatering process is now underway and will be completed mid-March 2002.  At a gas price of $2.50 and, working gas volume of 6 bcf, the total cash need for working gas will be approx. $15MM.

We are working with Bridgeline to find other sources of financing for the working gas that would enable them to make (and accelerate) the 2001 cash distribution to the partners.  Alternatives we are considering to fund the working gas: (i) increase the revolver from $35MM to $70MM,  (ii) find third parties (Enron ?) to enter into park-and-lend arrangements that would give Bridgeline the physical gas they need to dewater the facility without having to pay cash for it.   Most options will require Chevron/Texaco approval, which may come at a price.

I will distribute the cash flow statement when I receive it and Jean and I will meet with Randy and Trevor next week to discuss alternative financing/park-and-lend arrangements.   I have been cloaking my questions on the need for cash under the guise of putting together the 2002 plan (budget, headcount, capital needs, insurance requirements, etc.).  We should adhere to this commercial context so that we don't provide leverage to Bridgeline and Chevron/Texaco in any commercial discussions.  I will admit, however, given the headlines, it does not take a genius to figure out we need cash.

Regards,
Brian

 -----Original Message-----
From: 	Kitchen, Louise
Sent:	Friday, October 26, 2001 8:46 AM
To:	Hodges, Georganne
Cc:	Colwell, Wes; Redmond, Brian
Subject:	RE: Bridgeline Cash and AR

Brian Redmond is working this

 -----Original Message-----
From: 	Hodges, Georganne
Sent:	Thursday, October 25, 2001 5:06 PM
To:	Kitchen, Louise
Cc:	Colwell, Wes
Subject:	FW: Bridgeline Cash and AR
Importance:	High

I am not sure when we received our last cash distribution from Bridgeline but will check.  Should we pursue?

 -----Original Message-----
From: 	Gruesen, Karen
Sent:	Thursday, October 25, 2001 5:03 PM
To:	Hodges, Georganne
Subject:	FW: Bridgeline Cash and AR

 -----Original Message-----
From: 	Schwarzbach, Emily
Sent:	Thursday, October 25, 2001 4:41 PM
To:	Gruesen, Karen
Subject:	Bridgeline Cash and AR

Karen,

The following are the Bridgeline account balances as of 9/30/01 that you requested:

Cash - $34,374,000

AR - $88,224,562

If you have any further questions or need additional information please let me know.

Thank you.

Emily


[IMAGE]  [IMAGE]   Introducing the HighSchoolAlumni Deal of the Week. To thank you for being a valuable member of our community, we will occassionally present you with special offers and exciting products.  CCGBLU00001066   If you would like to stop receiving our Deal of the Week, please change your email settings on HighSchoolAlumni.com .


After the Day ahead market ran, the Mirage branch group TTC in both
directions was changed from 70 MW to 0 MW for HE's 0700 through 2400 for
operating day 1/30/02.  The reason(s) for the change is:  transfer trip
forced out of service to Devers-Capwind.  The first applicable Hour Ahead
market to run with these values is HE 1200.  The ISO will update you of any
changes in line rating status.  Sent by Market Operations, inquiries please
call the Hour Ahead Desk.

The system conditions described in this communication are dynamic and
subject to change.  While the ISO has attempted to reflect the most current,
accurate information available in preparing this notice, system conditions
may change suddenly with little or no notice.


Hi Mark,

Hope you got the attachment okay that I sent.? If it weren't for the kids I'd
probably make it my screen saver.? I'm sending you another one that I thought
was nice but funny too!?

Cita is doing better.? She back home and says she's feeling better.? But, She
keeps teasing us with a cough that we have to watch real close.? The first
few nights she stayed here after her release from the hospital were pretty
tense.? She was afraid to go to sleep.? She continues to have visions of Bill
at her bedside!? I keep telling her that he just wants to make sure the she
stops mourning him because he's finally resting and very happy.? I tell her
that if he was standing at "my" bedside then I?would surely have reason to
worry and not sleep!!? Heck, what else can I say?? As always, I try to pop in
some humor so she can hopefully see the funny side of life.

As fas as I know, we're going to be celebrating Christmas Eve here.? I'll let
you know if that changes.? And please promise me that you'll keep the cost of
my Christmas present just under $1,000 - promise?? If spend more I'll just
have to give you a bigger hug!!? Just kidding!? It'll be a little hug!!

Are you good friends with any University of Oregon Alumni?? Let me know
because I have a new client that wants to market a really cool UO neon
light.? Plus, with all the hype of them going to the Holiday Bowl my client
wants to jump on the fan excitement. (I'm sure they would've rather gone to
the Fiesta Bowl and earned an extra twelve million dollars!!!)? Anyway, let
me know if you know any UO Alumni.? Thanks.

Talk to ya soon - Love ya, mean it!?? Uncle Bob

? Mark.Guzman@enron.com
 - Creation.bmp


CONFIDENTIAL -- FERC SETTLEMENT DISCUSSIONS

I have proposed quite a few changes and additions to the list.  I also ask
some questions re some of the items listed. I added a section on Retail
Reforms -- we cannot settle with the state unless we settle everything --
otherwise we know the outcome to expect.

regarding your question on hourly day ahead markets -- I assume you're
referring to the energy market that the PX used to run, because the CAISO
already has day-ahead markets for congestion and ancillary services.  I
discussed this proposal with Tim in March because the ISO's filing at FERC
for market reforms had the ISO setting up such a market -- essentially
putting the former PX inside the ISO (and for all you historians, finally
creating the dream of POOLCO for California).  Tim asked us to oppose that
proposal -- his view at the time was that we didn;t want the ISO running
energY markets, because private third parties could do a much better job of
that.  So, we opposed that in our filings commenting on the ISO's proposal in
March.

I'll be in the office Wednesday (Oops! Today).  Can we discuss this list and
where we are headed?

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854

	Ray Alvarez
	06/26/2001 05:46 PM

		 To: Jeff Dasovich/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Alan
Comnes/Enron@EnronXGate, Tim Belden/Enron@EnronXGate, jeff.richter@enron.com
		 cc: James D Steffes/NA/Enron@Enron, Robert Frank/NA/Enron@Enron
		 Subject: CONFIDENTIAL
Necessary Market Reforms for CA.

For your review/comment.  We are potentially submitting these points into
settlement discussions.  Do we want to propose that the CAISO develop the
systems to implement hourly day ahead markets?  Is this ok with Jeff
Richter?  Ray

---------------------- Forwarded by Ray Alvarez/NA/Enron on 06/26/2001 08:36
PM ---------------------------

Ray Alvarez
06/26/2001 08:29 PM
To: biggsbg@bp.com, harry.singh@neg.pge.com, rloeffler@mofo.com,
john-meyer@reliantenergy.com, ddickson@avistaenergy.com,
doug.little@powerex.com, linda.lee@ferc.fed.us
cc: James D Steffes/NA/Enron@Enron, Robert Frank/NA/Enron@Enron

Subject: CONFIDENTIAL
Necessary Market Reforms for CA.

Per our discussion, please find attached the first draft of the referenced
document.


Attached is PIRA's latest "Electricity Daily Demand Forecast."

If you have any questions regarding the report's content, please contact
Morris Greenberg (email: morris@pira.com) or Victoria Watkins (email:
vwatkins@pira.com), at (212) 686-6808.

Contact Client Services regarding PIRA report distribution and address
changes at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Electricity Daily Demand Forecast" outside a
Client's licensed distribution area is strictly prohibited. Clients that are
unsure of their licensed distribution or require an extension of their
current license should contact their PIRA sales representative, or email to
sales@pira.com.

PIRA Energy Group

 - ed111501.pdf
 - ed111501.xls


----- Forwarded by Sara Shackleton/HOU/ECT on 12/27/2000 08:14 AM -----

	Christine.Lee@ubsw.com
	12/22/2000 07:49 PM

		 To: sara.shackleton@enron.com, Clint.Freeland@enron.com, jeff.nogid@enron.com
		 cc: David.Kelly@ubsw.com, Michael.Collins@ubsw.com
		 Subject: New Draft of Contract and Equity Forward Restructuring

     Dear Sara, Clint and Jeff:

     David Kelly reviewed the contract I sent you last night and asked me
     to make the following additional changes:

     1)  In Registration Provisions, change in two places "this equity
     derivatives transaction" to read "this Transaction."

     2)  Move dividend adjustment language to the "Amendment of the Equity
     Definitions" section.

     3)  On page 14, I inserted the necessary ratcheting trigger language
     that I inadvertently deleted yesterday.

     The revised document is attached.

     As Jeff and I agreed today, we are going to restructure the floating
     rate forward so that it will be a fixed rate forward.  We will
     therefore use the same confirmation for both transactions.

     We will restructure the forward as of 12/26/00 using $73.6797 as the
     base price.  This price represents the forward price as of 12/12
     ($73.5941) plus interest up to 12/26 ($0.2107) less the dividend paid
     on 12/20 ($0.1251).

     The rate we will use to calculate the interest on the forward will be
     interpolated between 3 and 4 month LIBOR set on 12/26 plus 65 basis
     points.  The forward price will be reduced by the expected dividend of
     $0.125 per share paid around 3/20/01.

     The maturity of the forward will remain April 12, 2001.

     I will be on vacation next week but Mike Collins will be able to help
     you.  He can be reached at 203-719-8385.

     Happy Holidays to you all!

     Regards,
     Christine

 - MARKUP.DOC

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

This message contains confidential information and is intended only
for the individual named.  If you are not the named addressee you
should not disseminate, distribute or copy this e-mail.  Please
notify the sender immediately by e-mail if you have received this
e-mail by mistake and delete this e-mail from your system.

E-mail transmission cannot be guaranteed to be secure or error-free
as information could be intercepted, corrupted, lost, destroyed,
arrive late or incomplete, or contain viruses.  The sender therefore
does not accept liability for any errors or omissions in the contents
of this message which arise as a result of e-mail transmission.  If
verification is required please request a hard-copy version.  This
message is provided for informational purposes and should not be
construed as a solicitation or offer to buy or sell any securities or
related financial instruments.


Amelia, I was able to collect the remainder of the pledges ($5,140).  Please
let me know where you are located, and I'll try to get it over there today.
If you happen to be in the building and want to stop by, that's fine, too.
Katherine knows where it is if I'm not at my desk.  SRS


FYI -

 -----Original Message-----
From: 	Thompson, Virginia
Sent:	Friday, June 29, 2001 2:38 PM
To:	Ratnala, Melissa K.
Cc:	Allen, Thresa A.; Symes, Kate
Subject:	Sierra Pacific

Dear Melissa or Thresa,

  I have completed DMS's # 8704 and 8699 for Sierra Pacific.  The total of the two will be a negative $ 9033.39 impact on the real time books.
  I was wondering if we could pull this change thru today so that it comes thru in the next PMA report?
  I know Amy will be back July 2, so I was wondering if someone could do it for her. The real time book will be taking another $10,000 hit soon, so I wanted to split these 2 big    hits between 2 PMA reports if at all possible.

  Please let me know.

  Thanks,

  Virginia


Has this gone to Ken yet.  If not please send.

Maureen McVicker
06/21/2001 02:55 PM
To: Lora Sullivan/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron
cc:

Subject: Last FINAL version

Lora:

This is the new "Final" version.  The difference from the earlier version is
- a few slides were taken out and the order of the remaining slides were
rearranged.

Please get a copy of this new "Final" to Ken Lay.

Thanks.

----- Forwarded by Maureen McVicker/NA/Enron on 06/21/2001 02:53 PM -----

	Ursula Brenner
	06/21/2001 01:05 PM

		 To: Karen Denne/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron
		 cc: Maureen McVicker/NA/Enron@Enron
		 Subject: Last version

This is the final version, including the changes Jeff just requested.

Ursula


This document is from Theresa Hess and Tammy Hopkins.


Tight time frame for Mike & co. on metals deliverables.  Raises the question
around the timing of next week's visit on metal.  Will we divert critical
resources from these efforts.   --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 04/04/2001 09:48 AM
---------------------------

Mike Jordan
04/04/2001 09:27 AM
To: Richard Causey/Corp/Enron@ENRON, Rick Buy/Enron@EnronXGate, Sally
Beck/HOU/ECT@ECT, Ted Murphy/LON/ECT@ECT
cc:
Subject: Merchanting Metals Update #2

Please find attached the most recent update for Merchanting Metals.

In summary the planned systems changes and manual substantiation efforts are
behind schedule. Additional resources are being allocated and the situation
is being closely monitored ( both for quarter end signoff and on going
operations ).

Please contact me if you require any additional information

Mike

---------------------- Forwarded by Mike Jordan/LON/ECT on 04/04/2001 13:59
---------------------------

Mike Jordan
03/04/2001 16:29
To: John Sherriff/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT, Joe
Gold/LON/ECT@ECT, Michael Farmer/EU/Enron@ENRON, Michael J
Hutchinson/EU/Enron@Enron, Paul Freeman/EU/Enron@Enron
cc: Fernley Dyson/LON/ECT@ECT, Andrew Cornfield/LON/ECT@ECT, Howard
Carter/EU/Enron@Enron, Nigel Grace/EU/Enron@Enron, Mark Pickering/LON/ECT@ECT

Subject: Merchanting Metals Update #2

The intention of the efforts and actions documented in my earlier update (
see attached email ) was to provide
a robust position signoff process for total metal tonnage, spread and brand
and location
a timely substantiation of
stock on balance sheet
forward MTM
debtors and creditor balances
OBSF transactional values and a reconciliation of the barclays intercompany
account

Despite the best efforts of IT, continuing problems with the AS400
application, a better understanding of the inconsistency between stock
reconciliation reports, and concerns over the useability of the outright
stock screen enquiry are such that I am currently not confident of delivering
sufficient accurate information to AA to satisfy their audit requirements -
which at a macro level is the transparent audit trail between stock and
forward positions to full accounting values.

Consequently I need to inform you of, and/or require your approval for, the
following :

I will discuss with AA the following
that OBSF values within the extended trial balance may be misstated due to
data issues ( above and beyond existing conversations with AA on model
simplifications)
that there are reconciling differences between trader position analyses,
AS400 on screen enquiries and the formal global position report ( these
differences are at present not understood but would need to be provided to AA
within the audit timetable)
an outline of the internal balance sheet review process described in my
earlier note which must now be reprioritised and rescoped ( see MO work )
The creation of an incentive payment pool ( possibly via personal best awards
) for key Metals staff who continue to work exceptionally unsociable hours to
meet the above stated objectives
The signoff for additional permanent 'Enron' headcount who will 'duplicate'
certain key position control processes ultimately replacing some existing
Traffic staff
A reconciling difference of $15mm exists between the reported DPR and the
final accounting p&l as generated on the AS400. We will continue to
investigate potential misstatements in the system p&l, as a result of data or
system valuation problems, within the month end reporting timeframe. However,
this difference may need to be adjusted for following a final review and
signoff of system p&l values with traders.
The recall of all OBSF stock in early April and retention on balance sheet (
reduced where economically viable ) until positions are fully reconciled and
repeatable daily signoff process can be instigated.

Middle Office work being prioritised is as follows
the stock circularisation initiated for close of business 23 rd - with full
reconciliation of returns to current system data by traffic/co-ordination
an audit of the stock and forward valuation report for the 30 th ( replacing
planned 23 rd review due to system issues ), requiring
full download of contract detail for later reference
reconciliation of stock movements between 23 rd and 30 th
sample tests of vanilla forward transactions
detailed position analysis of all OBSF contracts that must be reconciled to
Barclays documentation
spreadsheet recalculation of OBSF option premium utilising the above manually
created position analysis
the circularisation of Barclays intercompany account and comparison to our
cut off and substantiation analysis
the debtors/creditors partial circularisation initiated for close of business
23 rd

I will be in touch directly re the items needing approval

Regards

Mike
---------------------- Forwarded by Mike Jordan/LON/ECT on 29/03/2001 20:51
---------------------------

Mike Jordan
21/03/2001 18:20
To: John Sherriff/LON/ECT@ECT, Michael R Brown/LON/ECT@ECT, Rick
Buy/Enron@EnronXGate, Richard Causey/Corp/Enron@ENRON, Ted
Murphy/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT
cc: Fernley Dyson/LON/ECT@ECT, Joe Gold/LON/ECT@ECT, Michael
Farmer/EU/Enron@ENRON, Michael J Hutchinson/EU/Enron@Enron

Subject: Merchanting Metals update

Several related issues have resulted in an increase in the level of operating
risk for the Merchanting Metals business.

Complexities surrounding the operation of the Off Balance Sheet Facility
("OBSF") which commenced two weeks before the year end.
The uncertainty generated by the revocation of AA's signoff for the facility
late in the year end audit.
The discovery of a number of 'bugs' within the AS400 Merchanting code,
arising from the release of OBSF designed functionality, which compounded the
operational burden of supporting the OBSF.
The requirement to amend the operational process and OBSF IT code as a result
of the current renegotiation of the OBSF with Barclays ( and AA ).
The senior IT developer for Merchanting has resigned and been sent on
gardening leave.
The Corporate requirement to lower working capital usage for the Merchanting
business irrespective of the above parochial business issues.

Various mitigating actions have been and will be taken to provide focus, gain
comfort over control levels and to provide assurance to senior management as
to the accuracy of the Q1 DPR and business balance sheet.

The implementation for SAP for the Merchanting business has been delayed and
effectively decoupled from the higher risk ( higher benefit ) Brokerage
implementation - benefit is to provide sole focus on OBSF for IT Merchanting
developers.
The AR/AP SAP data quality reviews for both businesses are continuing so as
to provide a detailed analysis as at end Q1.
Middle Office have instigated a new daily working capital report process
tracking cash settlement/ funding data to working capital components for all
Metals businesses.
An enhanced position signoff process will be implemented prior to end Q1
covering gross tonnage, spread positions and summarised analyses for brand
and locations. The necessary report functionality should be available within
the AS400, however contingencies have been initiated to build tactical
VBA/excel reports outside of the AS400 but using AS400 data downloads.
User requests for additional AS400 functionality and reports have been
aggressively prioritised and a code freeze will commence prior to the end of
Q1 following the delivery of three reports determined as minimum requirements
for the support of OBSF.
A resubstantiation of the full Q1 DPR will be completed by the Risk control
staff reconciling the full trial balances between Q1 open and Q1 close
A full internal balance sheet review will be completed within the Q1 audit
timetable which incorporates
A full circularisation of inventory balances, and matching to source
documentation within Enron
Inspection of certain of the above inventory balances, by third party
inspectors, where there is an expectation that circularisation replies will
not be received on a timely basis
Substantive checks back to source contract documentation for the forward
priced and unpriced positions report ( spot checking the key position report
signed off by the traders )
Full reconciliation and recalculation of OBSF option premium values
Full reconciliation of contracts within the OBSF to Barclays documentation (
thereby substantiating existence of stock that we have option to purchase )
and to AS400 Barclays account
A risk based debtors review - matching to source documentation, where
applicable, and any subsequent post quarter end cash movements
A full substantiation of creditors to internal ( contract commitments ) or
external documentation ( invoices/request for payment )
A full reconciliation of intercompany accounts
A full substantive reconciliation of cash and funding accounts

I intend to provide weekly updates on the status of the above actions during
April

If you have any questions please call me on x34703

Regards

Mike


Congrats, you have won my auction for the Flagship Executor ccg....Please
email me your mailing addresss so i may prepare to send it the moment i
receive payment....shipping North America typically ranges from 2 to 4
Dollars US depending on how fast you would like it....if you want it just
normal mail (in my past experience 8-10 days) just add 2 dollars to the
total...*S*
please send money order to:
Mike Chisholm
#29 1120 Guisachan Rd
Kelowna B.C. Canada
V1Y 9R5
please email me asap, and once again congrats! *S*
Mike


As you are aware, Enron utilizes temporary staffing services to satisfy
staffing requirements throughout the company.  For the past several months, a
project team, representing Enron,s temporary staffing users, have researched
and evaluated alternative Managed Services programs to determine which source
would best meet our current and future needs in terms of quality, performance
and cost containment objectives.  The Business Unit Implementation Project
Team members are:

Laurie Koenig, Operations Management, EES
Carolyn Vigne, Administration, EE&CC
Linda Martin, Accounting & Accounts Payable, Corporate
Beverly Stephens, Administration, ENA
Norma Hasenjager, Human Resources, ET&S
Peggy McCurley, Administration, Networks
Jane Ellen Weaver, Enron Broadband Services
Paulette Obrecht, Legal, Corporate
George Weber, GSS

In addition, Eric Merten (EBS), Kathy Cook (EE&CC), Carolyn Gilley (ENA),
Larry Dallman (Corp/AP), and Diane Eckels (GSS) were active members of the
Selection Project Team.

As a result of the team,s efforts, we are pleased to announce the beginning
of a strategic alliance with CORESTAFF,s Managed Services Group.  This group
will function as a vendor-neutral management entity overseeing all staffing
vendors in the program scope. They will also provide a web based online
technology tool that will enhance the ordering and reporting capabilities.
The goal of our alliance with CORESTAFF is to make obtaining a temporary
worker with the right skills and experience easier while protecting the best
interests of the organization.

We plan to implement Phase I of this improvement effective January 2, 2001.
This Phase I of the implementation will encompass administrative/clerical
temporary workers at the Houston locations only. If you currently have
administrative/clerical temporary workers in your department, the enhancement
will not affect their position. In an effort to preserve relationships, all
current staffing vendors will be invited to participate in this enhanced
program.  CORESTAFF shares our commitment to minimize any disruptions in
service during this transition.

We expect to incorporate the administrative/clerical workers in Omaha,
Seattle and Portland in Phase II, which is scheduled for February, 2001.  The
scope and timing of any additional phases will be determined after these two
phases have been completed.

Realizing the impact that the temporary workforce has in business today, we
selected CORESTAFF,s Managed Services Group based on their exceptional
management team, commitment to quality service, and creative solutions to our
staffing needs.  The relationship promises to offer Enron a cost effective
and simple means for obtaining temporary employees.

In the coming weeks, Enron and CORESTAFF,s Managed Services Group will be
communicating to Enron,s administrative/clerical temporary staffing vendors
about the new process.

There are many benefits to this new Managed Services program, which are
outlined on the attached page.  More details on how to utilize CORESTAFF,s
Managed Services program will be announced soon and meetings will be
scheduled to demonstrate the reporting system and to meet the Managed
Services team.

What is Managed Services?

CORESTAFF,s Managed Services program includes:

? Vendor-neutral management model
? Equal distribution of staffing orders to all staffing partners
? Web-based application with online ordering, data capture and customized
reporting
? Benchmarking and performance measurement for continuous improvement
? Methodologies for accurate skill-matching and fulfillment efficiencies

Key Benefits

? More vendors working on each order from the outset ) faster access to
available talent pools
? Standardized mark-ups and fees to manage costs more effectively
? Online access to requisition status for users
? Robust databases offering managers enhanced tracking and reporting of
temporary usage and expenditures
? Standard and customized reporting capabilities -- online
? Tenured, experienced Managed Services team on-site to assist users in
accessing web site, identifying usage trends, preparing specialized reports,
etc.

Corestaff/Managed Services/Staffing

Joseph Marsh ) Lead / Operations (josephm@corestaff.com; 713-438-1400)
Amy Binney, Sharon B. Sellers ) Operations
Cherri Carbonara ) Marketing / Communications
Cynthia Duhon )Staffing Partner management


The meeting will take place at 11:00a.

 -----Original Message-----
From: 	Williamson, Joannie
Sent:	Friday, December 14, 2001 4:24 PM
To:	'john_1_sherriff@hotmail.com'; Bowen Jr., Raymond; Buy, Rick; Causey, Richard; Delainey, David W.; Derrick Jr., James; Dietrich, Janet; Fallon, Jim; Frevert, Mark; Haedicke, Mark E.; Horton, Stanley; James Hughes; Kean, Steven J.; Koenig, Mark; Lay, Kenneth; McMahon, Jeffrey; Sherriff, John; Whalley, Greg
Cc:	Hickerson, Gary; Rieker, Paula; Valencia, Laura; Zoch, Judy; Blackwood, Connie; Chapman, Kay; Daw, Nicki; Elbertson, Janette; Ferrari, Kerry; Fleming, Rosalee; Ford, Sue; Harris, Stephanie J ; Heathman, Karen K.; Marshall, Lucy; McVicker, Maureen; Mendez, Yorleni; Schiller, Marsha; Stark, Cindy; Taylor, Liz; Tori Wells; Westbrook, Sharron; Williamson, Joannie
Subject:	Management Committee Meeting - Monday, December 17

Please reply and let me know if you will participate in person or via conference call.  The dial-in number is 801-983-4013, please reference Ken Lay.

Thanks,
Joannie
3-1769


I'm fine with it.
mike


I would love to go.  I have to see which one it is.  BESIDES, it will
obviously be the Rose Bowl if the Huskies will just cooperate.

I will be in San Jose next week if you want to come visit.  I will actually
be hanging out in PDX or Corvallis the weekend of Dec 9.  I will probably be
found somewhere around the Mr. and Mrs. Jones residence.  Have a cold one
ready for me!

Marc
*(303)401-7054
*mleslie@amgen.com

> ----------
> From:  Mark.Guzman@enron.com[SMTP:Mark.Guzman@enron.com]
> Sent:  Friday, November 17, 2000 4:20 AM
> To:  mleslie@amgen.com
> Subject:  Re: E-Clips News Flash
>
>
> Whats up Lester.  Are you going to go to the Bowl game.  It looks right
> now
> like it might be the fiesta or the Holliday Bowl.  If it is the Holliday
> Bowl i will probably go however if it is the Fiesta bowl I wont be able to
> make it.  How is the family.  Are you guys planning on coming out anytime
> soon
>


I met with Sally Painter to discuss our Gore 2000 strategy.  From this
meeting, Sally drafted the attached action plan with the following near-term
action items:

1) She suggests that we draft 1-2 page issue briefs on our signature policy
issues.  I suggested 4 policy areas on which Enron has unique experience:
electricity deregulation, e-commerce (trading), energy services, and
broadband.  We spoke about this at a DC staff meeting and we set a mid-June
deadline for the completion of these papers...of course with input from all.

2) We have set June 13 as the date for the Enron business outreach dinner.
We need to decide if we want to do it in DC or Houston.  We also need to
decide if we want to bring in our colleagues from different companies or
associations to attend this dinner.  Sally suggested we try to bring in 8-10
senior executives from our industry(ies).

3) We need to set a date to go to Gore 2000 in Nashville to meet the
working-level policy staff.  I will ask our respective support staff to
schedule this.

Please let me know your thoughts.

Thanks - Chris

---------------------- Forwarded by Chris Long/Corp/Enron on 05/24/2000 09:02
AM ---------------------------

Sally Painter <SPainter@fontheiminternational.com> on 05/19/2000 02:23:10 PM
To: "'chris.long@enron.com'" <chris.long@enron.com>
cc: Ken Levinson <KLevinson@fontheiminternational.com>, Jeremy Bash
<Jbash@Fontheiminternational.com>

Subject: Follow-Up from Meeting

 <<Enron6months.doc>>

Chris,  per our meeting, I have attached a new draft.  I believe it
covers all that we discussed.  Have a good weekend.

Best,

Sally

 - Enron6months.doc


I would like Joe Casas (currently East logistics) to participate in the
interview process.
---------------------- Forwarded by Scott Neal/HOU/ECT on 05/08/2001 01:34 PM
---------------------------
From: John J Lavorato/ENRON@enronXgate on 05/02/2001 04:36 PM
To: Phillip K Allen/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Berney C
Aucoin/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT, Chris
Gaskill/ENRON@enronXgate, Doug Gilbert-Smith/Corp/Enron@ENRON, Mike
Grigsby/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Louise Kitchen/LON/ECT@ECT,
John J Lavorato/ENRON@enronXgate, Thomas A Martin/ENRON@enronXgate, Ed
McMichael/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT,
Jim Schwieger/ENRON@enronXgate, Hunter S Shively/ENRON@enronXgate, Fletcher J
Sturm/HOU/ECT@ECT, Martin Thomas/Enron@EUEnronXgate, Lloyd Will/HOU/ECT@ECT
cc: Karen Buckley/LON/ECT@ECT, Neil Davies/ENRON@enronXgate
Subject:

We were thinking of having another interview session for the Trading Tract
later this month.   I've been screening outside resumes but internally we
haven't received many suggestions from each of you about other people already
at Enron.  If you think anyone could qualify send the name to Karen Buckley.
If we don't have enough candidates, we will wait until the new analysts and
associates arrive and do a session then.

Lavo


Barry,
 Item 2 of the attached document states that Section 8 does not apply to this
confirmation.  Why can't we change the language to state that Sections 2, 5
and 8 do not apply to this confirmation.  I would prefer to do this in lieu
of changing the standard GTC terms and conditions.  Otherwise, what is meant
by the language "if the replacement price is not representative of the market
price, the parties may agree to use a fixed price in lieu of the index price"?

	Barry Tycholiz
	11/03/2000 02:58 PM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc:
		 Subject: Crestar Document


Glad you liked it.  There is a while series of e-mail symbols people use like
smiley faces - they even have a name: emoticons.  They don't often look like
you'd expect and most of them are sideways -  only one I know is the smiley
face  :-)   Hope you had a nice birthday!

Love , Mark


Hi Chris,

Please give me a call this afternoon and let me know if you've had a chance
to look over the deals for october that Mary Ellenberger emailed to you last
week. I would like to get this matter resolved this week.

Thanks
Darla