On balance , this is a good thing- not great, but Barbara and Roy did a great
job to get the improvements they got- also, the seccuritization is good for
project motown assets.
---------------------- Forwarded by Richard Shapiro/HOU/EES on 06/01/2000
07:02 AM ---------------------------

Barbara A Hueter
06/01/2000 06:23 AM
To: Steven J Kean/HOU/EES@EES, Richard Shapiro/HOU/EES@EES, Janine
Migden/DUB/EES@EES, James D Steffes/HOU/EES@EES, Harry Kingerski/HOU/EES@EES,
Susan T Covino/HOU/EES@EES, Becky L Merola/DUB/EES@EES, Susan M
Landwehr/HOU/EES@EES, Kerry Stroup/DUB/EES@EES, Jeffery Ader/HOU/ECT@ECT,
Wendy King/Corp/Enron@ENRON, Richard Hill/LON/ECT@ECT, Adam
Cooper/DUB/EES@EES, Mark Harada/HOU/EES@EES, Debbie Chance/Corp/Enron@Enron,
Elizabeth Linnell/HOU/EES@EES, Lynnette Barnes/HOU/EES@EES
cc: Roy Boston/HOU/EES@EES
Subject: MI: SB937 and SB1253 passed House last night

Late yesterday evening the Michigan House of Representatives approved the
package of electric restructuring bills, namely SB937 (vote of 72 -35) and
SB1253 (vote of 73 - 35).  The bills now go back to the Senate where the
changes made by the House are expected to be agreed to.  If this occurs,
which we expect it will, the bill will be signed by the Governor this weekend
and take immediate effect.

Attached is an initial summary of SB937 as passed by the House.  The House
accepted approximately 7 amendments on the floor.  This summary may be
updated should these amendments have any real impact on the bill for Enron.
Our initial assessment is that they do not - Eric Schneidewind and I are
meeting first thing Thursday morning to review them carefully.  We will keep
you updated.

Finally, regarding the issue of being subject to acquiring local franchises
as a condition of doing business in municipalities in Michigan:  You will
recall that we had language inserted into the bill in the Senate which
declared that Alternative Electric Suppliers would not be considered public
utilities.  This language would have deleted the requirement that we obtain
local franchises.  However, the Governor had made a deal with the MI
Municipal League that this issue would not be resolved in this legislation.
(This deal I believe was struck in the context of various other issues
pending among the legislature, governor and municipal league).  Late
yesterday, Senate Leader DeGrow came out in support of an amendment to
exclude schools (elementary, secondary, community colleges, universities,
etc...) from the local franchise for purposes of aggregation -- thus
upsetting the status quo which had been agreed to by the Governor and
Municipal League.  Senator DeGrow was firm in his support and said that in
order for the Senate to agree to House changes, this language had to be
added.  Well, the language was not added in the House --- due to overall
confusion.  So, we are going to talk with Senator DeGrow this morning to urge
him to go forward with the Senate agreeing to the House changes in the bill
and to consider the schools amendment in the context of exempting all
Alternative Electric Suppliers from local franchise requirements.  A bill or
amendment to this effect can be handled during the September session.
Customer groups are also going to do the same thing.  The Govenror supports
our position on this issue and we believe we have the momentum to get this
done when the legislature comes back in September.

Roy and I are available today if you have any questions.  You can reach Roy
at 630-654-6472. I can be reached this morning at 614-306-4359 and this
afternoon at 614-760-7472.


Ed,

I am glad I got it resolved. Hope you will like the system.

Vince

ekrapels <ekrapels@esaibos.com> on 02/18/2000 03:43:54 PM
To: Donna Greif/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: RE: Guest Access to EnronOnline

Dear Donna, Thanks for your help, and to Vince as well. I'll access the site
next week, when I'm back from a holiday weekend.

Ed Krapels

-----Original Message-----
From: Donna Greif [mailto:Donna.Greif@enron.com]
Sent: Friday, February 18, 2000 10:53 AM
To: ekrapels@esaibos.com
Subject: Guest Access to EnronOnline

Attention:     ESAI
          Ed Krapels

Thank you for your interest in EnronOnline.

As  requested,  following is a guest password that will allow you temporary
view
only  access  to  EnronOnline.   Please  note, the user ID and password are
CASE
SENSITIVE.

     Guest User ID:      ENA61296
     Guest Password:          TR84BY13

In order to apply for transaction status with EnronOnline, your company
needs to
complete a Password Application and Registration Form for a Master User
account.
Each  Master  User will be able to grant various levels of access for
additional
users.

To  obtain  a  Password  Application  and  Registration  Form, you can visit
our
website  at  www.enrononline.com  and select the ?How to Register? link, or
call
our HelpDesk at 713/853-HELP (4357).

We  hope  you will find that EnronOnline provides an easy and more efficient
way
to do business with Enron. We look forward to transacting with you online.

Sincerely,

Donna Corrigan Greif
EnronOnline HelpDesk
713/853-HELP (4357)

 - att1.htm


Notice No. 01-448
December 28, 2001

TO:		ALL EXCHANGE MEMBERS / MEMBER FIRMS
		ALL CLEARING MEMBERS

FROM:	J. ROBERT COLLINS, JR., PRESIDENT

RE:		EXCHANGE TO CHANGE EARLY CLOSING TIME FOR COAL

The New York Mercantile Exchange, Inc., announced today that it will change
the early closing time for coal futures to 12:30 P.M. for days that the
Exchange has designated for early closings.

These days include December 31, 2001, and January 18; February 15; May 24;
August 30; and December 24 and 31 in 2002.

The change reflects the abbreviated trading hours under which the Exchange
has been operating since September 17 and will remain in place until the
hours are extended. All other open outcry energy markets except propane
futures will continue to cease at 1:00 P.M. on those days. Propane futures
close at 12:15 P.M.  The early closing for aluminum and palladium will
remain at noon; silver and copper will end at 12:05 PM on those days; and
gold and platinum will close at 12:10 P.M. Electricity futures will close at
its regular time of 9 A.M.


IntercontinentalExchange
                                                                                Firm Physical Natural Gas Price Bulletin
                                                                                For Natural Gas Delivered on Wednesday, November  28, 2001
                                                                                (Trade Date of Tuesday, November  27, 2001)
Click here to access index history .
                                                                                * volume represents sell-side only *

Region     Hub	High	Low	Wtd Avg Index	Change ($)	Vol (mmBtu)	Hub Name
 LOUISIANA
    ANR SE	          $2.0900	          $1.6200	          $1.8653	+    .0773	         335,000	American Natural Resources Pipeline Co. - SE  Transmission Pool
    Columbia Onshore	          $2.0000	          $1.5950	          $1.7426	+    .0098	         289,800	Columbia Gulf Transmission Co. - Onshore Pool
    Henry Hub	          $2.0700	          $1.6500	          $1.8990	+    .0821	       1,259,500	Henry Hub tailgate - Louisiana
    NGPL LA	          $2.1700	          $1.6300	          $1.9199	+    .1225	         265,800	Natural Gas Pipeline Co. of America, Louisiana Pool
    Tenn 500L	          $2.0500	          $1.4800	          $1.8412	+    .2200	         214,500	Tennessee Gas Pipeline Co.-Zone L, 500 Leg Pool
    Tenn 800L	          $2.0500	          $1.4700	          $1.7692	+    .1305	         221,300	Tennessee Gas Pipeline Co.-Zone L, 800 Leg Pool
    TETCO ELA	          $2.0000	          $1.6100	          $1.8331	+    .1944	         250,700	Texas Eastern - East LA
    TETCO WLA	          $2.1250	          $1.5500	          $1.8223	+    .2301	         211,800	Texas Eastern - West LA
    Transco 65	          $1.9700	          $1.6200	          $1.8037	+    .0136	         145,500	Transco - Station 65
    Trunkline ELA	          $2.0200	          $1.4600	          $1.8193	+    .1175	         138,500	Trunkline Gas Company - East Louisiana Pool
    TxGas SL	          $1.9800	          $1.6200	          $1.8437	+    .0955	         374,400	Texas Gas Transmission Corp.-Zone SL FT Pool
 MIDCONTINENT
    MichCon, citygate	          $2.5000	          $1.9750	          $2.3028	+    .2782	         270,200	Michigan Consolidated
    NGPL Midcont	          $2.2600	          $1.7700	          $2.1324	+    .3366	         157,700	Natural Gas Pipeline Co. of America, Mid-Continent Pool
    NGPL Nicor, citygate	          $2.4700	          $1.8400	          $2.1943	+    .2759	       1,146,800	Natural Gas Pipeline Co. of America, Nicor Citygate
    NGPL NIPSCO, citygate	          $2.4800	          $1.8550	          $2.2151	+    .2344	         237,800	Natural Gas Pipeline Co. of America, Nipsco Citygate
    NNG Demarcation	          $2.4600	          $2.2000	          $2.3617	+    .2849	         234,800	Northern Natural Gas, Demarcation Pool
 NORTHEAST
    Columbia TCO	          $2.1000	          $1.6000	          $1.8440	+    .1063	         710,500	Columbia Gas Co. - TCO Pool
    Dominion So.Point	          $2.2300	          $1.6000	          $1.9018	+    .1479	         243,400	Dominion - South Point
    TETCO M3	          $2.6000	          $1.7425	          $2.1459	+    .2367	         218,900	Texas Eastern - M3 Zone
    Transco Z-6 (NY)	          $2.7500	          $1.7600	          $2.1603	+    .0924	         130,200	Transcontinental Gas Pipe Line Corp. - Zone 6 (NY)
 WEST
    El Paso non-Bondad	          $2.3800	          $2.1800	          $2.3038	+    .3327	         159,000	El Paso - San Juan Basin, Blanco Pool
    Huntingdon/Sumas	          $2.4650	          $2.3500	          $2.4238	+    .2272	         117,600	Westcoast Energy & Northwest Pipeline Corp.
    Opal	          $2.3000	          $2.0500	          $2.1438	+    .2545	          75,800	Opal
    PG?Citygate	          $2.7200	          $2.4500	          $2.6311	+    .3528	         161,500	PG?- Citygate
    SoCal Border	          $2.6000	          $2.3500	          $2.4317	+    .3114	         308,400	Southern California Border Points (Ehrenberg,Topock,Needles)
 WEST TEXAS
    El Paso - Keystone	          $2.4100	          $2.1750	          $2.3286	+    .3599	         396,000	El Paso - Keystone Pool
    Waha	          $2.4150	          $1.9000	          $2.3326	+    .3120	         284,000	Waha Hub - West Texas

                                                                                Includes all firm physical fixed price trades done from 7 AM to 11:30 AM Central Prevailing Time on the trade date specified for natural gas delivered on the specified date(s).
                                                                                IntercontinentalExchange is the world's most liquid trading platform for over-the-counter energy and metals.  Active markets include North American power and natural gas, global crude and refined oil products, and precious metals.  Traded instruments include forwards, swaps, and options.
In order to receive the proprietary information contained in this email, you acknowledge and agree that you shall not further disseminate the IntercontinentalExchange Market Data contained herein to any person or entity without the express written consent of IntercontinentalExchange.    Furthermore, you acknowledge that (1) IntercontinentalExchange has exclusive and valuable property rights in this data; (2) IntercontinentalExchange's data is being made available to you only for your own business or personal activities; and (3) you cannot communicate the data, in any form, to any other person or entity without the express written consent of IntercontinentalExchange.
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                                                                                ?Copyright IntercontinentalExchange, Inc. 2001, All Rights Reserved.


Mark,

Attached is  the spreadsheet that  looks at the price comparison NNG vs. EPNG.MS


Peggy,

Your email notice was timely as I was just thinking about you.  I have wanted to congratulate you on your promotion.  I am so happy for you.  I find it validating, especially at this time at Enron, to know that good things do happen to good people.

Give me a call if you can ever break free for lunch.  I would like to catch up with you on business matters, and more importantly, on international adoptions.  I know that you have already navigated these waters and I am looking forward to travel to Kazakhstan to adopt a little girl.

Best wishes to you and your family for the holidays.

Shelley Corman
713-853-7083 (work)
713-857-2103 (cell)


The disappearance of a price index is a "Market Disruption Event" discussed
in Section 7 of Annex A to the confirmation.  Unless an "Alternative Floating
Price Source" is described in the confirmation, the Floating Price on the
first available Trading Day (without a disruption) is utilized if the
disruption does not exceed three Business Days; otherwise, the price is
"determined in good faith by Company, by taking the average of two or more
dealer quotes."

At the moment, your confirm does not identify alternative pricing.

To: Barton Clark/HOU/ECT@ECT
cc: Randy Petersen/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
Subject: Re: Catalytica Spark Spread Option Confirmation

My comments and thoughts:

1)  CCSI has proposed that they pay the premium in installments and we have
rejected their proposal.   They are making their case to Enron senior
management and we not agree unless told to by the appropriate people.

2)  This is a long dated transaction so it doesn't surprise me that they are
asking for unilateral credit provisions.  Since we expect this to be
repurchased, I will talk to CCSI and see if they will waive this.

3)  It is not unusual to insert language to address the event that the
referenced index no longer exists (over the next 14 years).    I assume we
have standard language on this issue?

Brad

Barton Clark
12/06/99 08:37 PM
To: Randy Petersen/HOU/ECT@ECT, Brad Nebergall/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT
Subject: Catalytica Spark Spread Option Confirmation

Catalytica hit us with extensive comments to the form of spark spread option
confirmation appended to the Option Repurchase Agreement between ENA and CCSI
last week in San Francisco. Sara Shackleton is negotiating directly with
CCSI's counsel with respect to CCSI's requested comments, but there are two
issues raised by the markup that are not strictly lawyer comments that need
to be addressed in order to finalize the confirmation.

One comment CCSI made was to request some type of collateral deposit if ENA's
credit quality slipped in the future. You will recall that the spark spread
should be  repurchased by September 30,1999, pursuant to the option
repurchase agreement, well in advance of the 2003 effective date of the spark
spread. Nevertheless, to make the spark spread appear arms length ( which it
most certainly is!), in view of the theoretical effectiveness of the spark
spread and its 2016 expiration date, CCSI decided it needed credit
protection.

In the course of negotiating the changes to the spark spread, we tendered to
CCSI for its consideration a bilateral collateral deposit agreement, wherein
each party would be required to deposit collateral if credit quality fell in
the future. Unless ENA allows CCSI to pay the spark spread premium in
installments, the credit protection would only apply to ENA since it is the
only party making payments after the effective date, and if the installment
payment request by CCSI is rejected successfully, the form will need to be
amended to apply unilaterally to ENA ( assuming we agree to give CCSI this
comfort).

The form of collateral deposit provision requires that we define an "Exposure
Threshold" for ENA that triggers its obligation to provide credit support in
the form of collateral for CCSI's benefit. Normally, the calculation of an
appropriate amount would be done by credit. I understand from Sara, however,
that credit is no longer involved in this deal and that perhaps Randy can
suggest who might be the appropriate person to determine an appropriate
"Exposure Threshold" amount for ENA in this context. Of course, if the CCSI
premium is paid in installments, we would need to calculate an appropriate
CCSI "Exposure Threshold" as well.

The second issue in the CCSI revisions that the lawyers do not feel
comfortable unilaterally addressing appears in the "Gas Daily Price"
definition under Cash Settlement Amount. Here,CCSI's counsel has suggested,
if the measures for determining Gas Daily Price should change, that vague
alternative measures be used to define the Gas Daily Price. I'm not sure
whether we are comfortable with what an alternative measure may yeild, and
may want an alternative process if the current measures disappear, or may
have in mind more definite alternatives. Brad, it would be useful if you
could give us some guidance on this point.

Thanks for your assistance.


Karuna Venter
12919 Short Avenue
Los Angeles, CA 90066
karloo@mediaone.net

To Mr. Ken Lay,

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

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

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

Sincerely,

Karuna Venter


Kevin Meredith@ENRON
	04/02/2001 10:42 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc:
		 Subject: Long descriptions

Mark,

I have attached two word documents for your review, both of which contain the
two long descriptions.  The document with filename TAS Descriptions most
likely will be two new product types.  The other document (Nymex-GC Spreads)
shows the long descriptions for the existing product type US HeatOil2 Fin
Spread and US UNL Fin Spread.  We will create a new index for each of these
product types that will be the Nymex vs Gulf Coast prices for the commodity.
Savita has reviewed each of these documents and her only concern is how we
capture the "Trade Date" for the TAS products.  These products have been
requested by Larry Gagliardi, Phil Clifford, and John Wilson.  Please let me
know your thoughts.

Thank you.
Kevin


Taffy,  please let Ann Elizabeth know that we will reschedule the meeting.

Kay

Taffy Milligan@ECT
04/17/2001 07:52 AM
To: Jeffrey T Hodge/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT, Kathleen
Carnahan/NA/Enron@Enron, Kay Mann/Corp/Enron@Enron, Carlos Sole/NA/Enron@Enron
cc:

Subject: East Development Meeting

Good morning, everyone.

I received a message from Ann Elizabeth stating she would not be attending
the 10 am meeting this morning due to major clean-up at her residence
following yesterday's storm.

Taffy X57373


-----Original Message-----
From: 	Choate, Heather
Sent:	Wednesday, November 14, 2001 12:37 PM
To:	Romero, Araceli; Soto, Elizabeth; Gonzales, Alexander R.; Saldana, Alex; Jackson, Brandee; Hennessy, Sonia; Showers, Digna
Subject:	Additional Move Related Information

 -----Original Message-----
From: 	Winfrey, Christa
Sent:	Wednesday, November 14, 2001 11:59 AM
To:	Tijerina, Shirley; Hogan, Irena D.; Solis, Melissa; Bates, Kimberly; Harvey, Claudette; Black, Tamara Jae; Coleman, Venita; Rode, Tina; Holcombe, Tina ; Clyatt, Julie; Roberts, Chaun; Vuittonet, Laura; Jones, Melissa; Rangel, Ina; Presas, Jessica; Salinas, Michael; Collins, Angie; Finnels-Neal, La Donna; Snow, Dina; Villarreal, Alexandra; Young, Becky; Irvine, Geraldine; Rybarski, Amanda; Choate, Heather; Chapman, Christy; Leigh, Lorie; Zarsky, Lisa; Gordon, D'ann; Butler, Shelly; Noske, Linda J.
Cc:	Shepperd, Tammy R.; Schoppe, Tammie; Brooks, Loretta; Lopez, Susan; Duree, Janelle; Smith, Carli; Belsha, Lorie
Subject:	Additional Move Related Information

A few more important reminders...

Chairs:  Must be labeled for the move---use the wire tags included in your move packets.
Keyboards, mice:  ONLY label non-standard types (i.e. wireless mice/keyboards, special ergonomic keyboards); otherwise, do not label.
Phones:  Do not label these.  New phones will be at your workstations at Enron Center South.
Laptops, cell phones, palm pilots, etc.:  Be sure to remind your groups to take these home.  The move team will not be responsible for moving these over.  However, docking station, cradles, etc. should be labeled.  The move team will move these over and set them up for you.

Thanks again for all your hard work,
Christa
 -----Original Message-----
From: 	Shepperd, Tammy R.
Sent:	Tuesday, November 13, 2001 5:00 PM
To:	Tijerina, Shirley; Hogan, Irena D.; Solis, Melissa; Bates, Kimberly; Harvey, Claudette; Black, Tamara Jae; Coleman, Venita; Rode, Tina; Holcombe, Tina ; Clyatt, Julie; Roberts, Chaun; Vuittonet, Laura; Jones, Melissa; Rangel, Ina; Presas, Jessica; Salinas, Michael; Collins, Angie; Finnels-Neal, La Donna; Snow, Dina; Villarreal, Alexandra; Young, Becky; Irvine, Geraldine; Rybarski, Amanda; Choate, Heather; Chapman, Christy; Leigh, Lorie; Zarsky, Lisa; Gordon, D'ann; Butler, Shelly; Noske, Linda J.
Cc:	Schoppe, Tammie; Brooks, Loretta; Lopez, Susan; Duree, Janelle
Subject:	Move Related Issues

As you all know, our move is scheduled for this weekend.  Hopefully,  you and your groups are all progressing well in your preparations for the move this Friday. Please take the time to read the information contained in this message because most of the information contains reminders or FYI items and will be important to you and your group.  Please forward this to those in your group that may need this information.

?	Voicemail instructions - Please have everyone in your group clear all new voicemail messages by 5:00 PM, Friday, 11/16.  All saved messages, greetings and recorded names will be saved.  If a message is left before cutover the message will be saved, but the message light will not be displayed when you arrive.  As a precautionary meassure please check voice mail upon your arrival Monday morning even if the message light isn't on.

?	Building access - ECS will not be available for general access until Monday morning at 5:00 AM.  Due to the gas and power moves being combined, it is unlikely that the move team will be prepared for the POC's to come in on Sunday to unpack.  (Separate instructions will be generated for those who are needed to test trading applications.)  NOTE: Only those whose names have been approved and submitted to security will be allowed access on Sunday.
o	Monday - 5:00 AM for all employees

?	Security & badges -  All POC team members should be familiar with the routes into ECS as we discussed at our recent move meeting.  Please be sure to share this information with all of the people in your group.  If you need additional copies of the floor plans that have the access routes highlighted, please contact Carli Smith (5-3473). Please stress to everyone to have their badges with them at all times.  No one will be allowed access without their badge.  If anyone tries to access the building from the garage via the skyring and they do not have their badge, they will be sent back through the garage to the street level to walk across the street to the round kiosk in the Enron building lobby to get a guest pass and then proceed back to ECS via the 2nd floor and the skyring.

?	Move team colors - As mentioned at the move meeting, the following is a list of the color designations (vests) for the various teams that will be on the floor when we move in.
o	Red - Move Team
o	Orange - Desktop Support/IT
o	Green - Telephony

?	Newspaper subscriptions - The delivery location for all newspaper subscriptions need to be changed to ECS 05/06.  It is our intention to have all daily newspapers delivered to the mail desk located in the ECS 2nd floor corridor.  It will be the responsibility of the assistants to either pick up the papers for their group or designate someone in their group to pick up the papers.  If your papers continue to be delivered to your old floor of ECN, contact Sunny Rodgers (3-6116).

?	Move boxes -  Please encourage your group to pack and bring no more than about 6 boxes per person.  You may call Facilities (3-6300) if you need to request additional boxes.

?	Move labels -  If you run out of labels or if you are missing any labels, please call Carli Smith (5-3473) to have additional or missing labels printed.

?	Laptops - Important - Please ensure that all cable locks have been removed from all laptop computers by 5:00 PM on Friday.  If any cable locks are left on the computers they will be destroyed by the move team in order to move the computers as scheduled.

.	Bottled water - Every kitchen has an ice machine that also dispenses filtered water.  The large bottles of water (5 gallon) will not be allowed on the floor.  We would also like   to discourage the use of small bottles of water due to limited storage space and the availability of filtered water at several locations.

?	Phone sets - Although most of you are aware of this, we just wanted to remind you that there will be only one phone on each desk - either a turret or an Avaya, but not both.  Do not tag your phones, a new phone will be waiting for each person on their desk in the new building

I hope I have covered some of the outstanding questions or issues you might have, but if I have missed something, please let me know.  Thanks so much for all your help and hard work.


Thanks - I needed a good smile today.


Steve

thanks for agreeing to talk. I attach the program to see the other speakers
and style (it is addressed to a professional autience)

Please give me a suitable title for the talk (replacing Kaminski%s slot on
July 6/Energy session) and the details of your position

Thanks

Lenos

At 05:01 __ 04/20/00 +0100, Steven Leppard wrote:
>
>
>Dear Prof Trigeorgis
>
>Vince Kaminski has suggested that I would be a suitable speaker at your July
>conference in Cambridge, and I'd be happy to come along if required.  Please
>could you send me appropriate details, and the audience type expected.
>
>Many thanks.
>
>Yours sincerely,
>Steve Leppard
>
>
>
>
 - 4thconfsessions.doc

Lenos Trigeorgis
Professor of Finance
University of Cyprus
Dept of Business
75 Kallipoleos, PO Box 20537
CY 1678 Nicosia CYPRUS

Tel: +357 2 892261
Fax:        339063


please forward to Vicky Sharp.
---------------------- Forwarded by Steven J Kean/NA/Enron on 05/10/2001
09:19 AM ---------------------------
From: Matthew F Gockerman/ENRON@enronXgate on 05/09/2001 03:01 PM
To: Steven J Kean/NA/Enron@Enron, Greg Whalley/HOU/ECT@ECT, Wes
Colwell/ENRON@enronXgate, Jeff Dasovich/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron
cc: Edward Coats/ENRON@enronXgate, Gavin Russo/ENRON@enronXgate, Stephen H
Douglas/ENRON@enronXgate, Jeff Blumenthal/ENRON@enronXgate, Susan
Musch/ENRON@enronXgate, Christian Yoder/ENRON@enronXgate

Subject: Tax Review of California Assembly Bill No. 128

Attached please find a Tax Review of California Assembly Bill No. 128 ("AB
128X").  The Tax Review sets out the practical implication (increased cost to
purchasers) and constitutional deficiencies of AB 128X.

The third paragraph of the Tax Review details the mathematical computation of
the tax and the resulting purchaser price increase.  The computation sales
price, $300/MWh, reflects the SP15 (Southern California) weighted average
index price ($302.88), rounded to the nearest hundred, as reported in
Megawatt Daily's May 8th MarketReport.  However, it may be more effective to
present the mathematical computation with a price closer to the proposed base
price of $60/MWh.  We are available to assist in presenting the computation
utilizing whichever numbers you deem appropriate.

The California Senate has passed SB 1X, Windfall Profits Tax on Electric
Generators.  We will forward a similar memorandum addressing SB 1X.

We are available to address questions and/or comments.  Thanks.

Ed Coats - 713.853.6369
Steve Douglas - 713.853.0938
Gavin Russo - 713.853.6296
Matt Gockerman - 713.853.3979


202-434-5000 main


ThinkBank went live with a bang last Friday!  The Idea Vault already has more
than 20 innovative entries, and the eThink team has been busy routing these
ideas to the right people.

There are ideas about everything from new trading opportunities to hot air
balloons.  Visit the ThinkBank today.  Got an idea?  Make a deposit.  Need
some help?  Make a withdrawal.

eMeet has a brand-new look.  Have you seen it yet?  We took your feedback --
thanks for posting it right there in eMeet -- and created a more dynamic and
informative site for you.  Check it out.  Go to eMeet now!

Don't miss Cindy Olson's eSpeak this Thursday, November 3 at 10:00 am Houston
time.  Cindy, executive vice president of Human Resources & Community Affairs
will be answering your questions about the new Enron employee stock option
program.
And, if you can't make the live event (all together now), be sure to
pre-submit your question(s) on the eSpeak site!

You know you have the stuff to increase Enron's competitive advantage.  Put
it in the Edge today.


OK


cfoster
chris

From: Jeff Dasovich@ENRON on 12/14/2000 11:39 AM CST
Sent by: Jeff Dasovich@ENRON
To: Chris H Foster/HOU/ECT@ECT
cc:
Subject:

apologies.  could you resend me the id and password to get into EOL.  thanks
a bunch.


Merry Christmas to you and your family.  We had a great time this football
season and look forward to next year.

"Harrison, Oscar" <Oscar_Harrison@msdw.com> on 12/13/2000 03:26:05 PM
To: "'SNEAl@enron.com'" <SNEAl@enron.com>
cc:
Subject: Christmas Wish

Good afternoon,

Our family would like to wish your family a wonderful Christmas.  Look
forward to next years Wildcat defense of their championship.

Oscar Harrison

**** Important Notice to Recipients ****
It is important that you do not use e-mail to request, authorize or effect
the purchase or sale of any security or commodity, to send fund transfer
instructions, or to effect any other transactions.  Any such request,
orders, or instructions that you send will not be accepted and will not be
processed by Morgan Stanley Dean Witter.
****************************************


Shapiro is just unwilling to accept the fact that his guy is a very scary guy
... enough to scare away lifelong democrats.

I got your voicemail.  Thanks for following up. We would be looking for a
contract relationship only, not full time.

----- Forwarded by Steven J Kean/NA/Enron on 12/04/2000 08:39 AM -----

	Richard Shapiro
	11/30/2000 09:37 AM

		 To: Steven J Kean/NA/Enron@Enron
		 cc:
		 Subject: RE: FW: We have a leak

???
---------------------- Forwarded by Richard Shapiro/NA/Enron on 11/30/2000
09:37 AM ---------------------------

"Foster, Gary" <GFoster@Antigenics.com> on 11/30/2000 09:11:46 AM
To: "'Richard.Shapiro@enron.com'" <Richard.Shapiro@enron.com>
cc:

Subject: RE: FW: We have a leak

I believe that Steve has been won over only for political (as in corporate
politics) reasons but once he gets in the voting booth, he's still with you
and Melissa.

-----Original Message-----
From: Richard.Shapiro@enron.com [mailto:Richard.Shapiro@enron.com]
Sent: Thursday, November 30, 2000 9:18 AM
To: Foster, Gary
Cc: Rick and Amy Shapiro (E-mail); Steve and Melissa Kean (E-mail)
Subject: Re: FW: We have a leak

Thanks- you got it about right .....except that Kean's Democratic
credentials are seriously in question these days as are his " liberal-
minded" credentials. You may have won over an individual  who can now
clearly  be categorized as a lost soul.

"Foster, Gary" <GFoster@Antigenics.com> on 11/30/2000 08:07:18 AM

To:   "Rick and Amy Shapiro (E-mail)" <rshapiro@enron.com>, "Steve and
      Melissa Kean (E-mail)" <skean@enron.com>
cc:

Subject:  FW: We have a leak

steve and rick-
mark halperin is the political director at abc -- the smart guy sitting to
peter jennings's right all night on election night who knew everything. his
brother is a speechwriter at the nsc. you'll see below his recommendation
of
mark katz and his number.

i also emailed peggy noonan to ask for any ideas. haven't heard from her
yet. she's been very busy writing some of the more brilliant commentary on
the current situation which i'm sure hasn't been allowed into the shapiro
empire.

speaking of stock prices, what the hell happened yesterday? i'm still a
stock holder (very small) so pass my bitches along to koenig.

-----Original Message-----
From: Foster, Gary
Sent: Thursday, November 30, 2000 8:42 AM
To: 'Halperin, Mark'
Subject: RE: We have a leak

what do you mean 'on principle'? there couldn't be a better issue for a
clinonista to stand for than busting up monopolies' hold on the little
people. actually enron's government affairs office is run by a bunch of
democrats and they just hired summer's  congressional person at treasury to
run their d.c. office. is your brother still at the nsc?

katz is the person i was thinking of. i'll pass his name along. thanks.

-----Original Message-----
From: Halperin, Mark [mailto:Mark.Halperin@abc.com]
Sent: Wednesday, November 29, 2000 4:22 PM
To: 'Foster, Gary'
Subject: RE: We have a leak

after re-reading your original email (the first words of which were that i
should share it with sam and gma) i felt a little less bad on my own....it
was still dumb...and our secret is safe..keep sending them

by brother is very funny...i'm not sure he would do it on principle...but i
can ask...the person to ask is mark katz...who wrote for clinton and
gore...very funny..very automatic...use my name...let me know if there is a
problem  212-496-7013
-----Original Message-----
From: Foster, Gary [mailto:GFoster@Antigenics.com]
Sent: Wednesday, November 29, 2000 9:30 AM
To: Halperin, Mark
Subject: RE: We have a leak

your level of apologizing was not necessary but after re-reading my initial
email i can see where you could be mistaken that i was upset. i'm not. i
just don't want to break one of the only flows of insider information that
i
have left -- even if it's into a has-been.

but while i have you gravelling, you could do something for me. i just got
a
call from my old boss at enron and he is looking to hire someone as a
consultant who specializes in humor writing. they want to try a humorous
approach in taking on the monopoly utilities in the battle over electricity
deregulation. do you know anyone in the clinton administration who has been
responsible for some of the president's humorous speeches? or anyone that
fits this bill? what about your brother? it seems like i read a profile of
one of them recently who was leaving. the only republican i can think of is
landon parvin who has been around forever.

-----Original Message-----
From: Halperin, Mark [mailto:Mark.Halperin@abc.com]
Sent: Wednesday, November 29, 2000 8:49 AM
To: 'Foster, Gary'
Subject: RE: We have a leak

two people here did stupid things (first me, by in a hurry giving
instructions to my colleague about what to do with the information;then my
colleague for sending it to somebody untrustworthy)

so: i apologize...being in a hurry is no excuse for being careless.....

here's the silver linings:

1. gma seems to have gotten it some other way later in the day, so from
there point of view, they aren't focused on where it came from
2. there is literally no one at abc who knows i know you
3. i give you my word that i will never be at all careless with anything
from you again, and won't let even one person have access to
emails/information from you...the person in this case doesn't know it came
from you (or jb for that matter, since i had already taken her name and
your
name off of it)

again, i'm sorry.....i have zero tolerance for such carelessness, and
pleading being overwhelmed with work on the story is no excuse

ps: i hope you saw jamie's interview...it was priceless

-----Original Message-----
From: Foster, Gary [mailto:GFoster@Antigenics.com]
Sent: Wednesday, November 29, 2000 8:37 AM
To: Halperin, Mark
Subject: FW: We have a leak

when i said 'pass along', i only meant the information, not the entire
email. i'm not going to fess up if you and everyone else who has it doesn't
reveal their source.
-----Original Message-----
From: Jean Becker [mailto:jebeck@flfw.com]
Sent: Tuesday, November 28, 2000 7:33 PM
Subject: We have a leak

Everyone at ABC has a copy of the last e-mail I sent everyone concerning
President Bush's appearances on the morning shows tomorrow.

We have a leak.

I suspect someone in total innocence is forwarding my e-mails to friends
and
family, etc.  I need for all of you to take a very careful look at your
forwarding lists and think about where this leak might be.  If you think
you
know where the leak is, please, please let me know.

If we can't find it, these e-mails will cease and desist.

Jean

P.S. In case you were wondering, yeah, ABC is not happy.


Bridgeline Deal contacts:
 Tommy Yanowski
 Brian Redmond
 Hal Bertram
 Dave Banks (AEP IT)
 Randy Curry (BridgelinPresident)  x55806
 Hugh Connett (Bridgeline)    x5580?     (3AC)
 Robert Morgan (Bridgeline Operations VP) x56374 (3AC)

  HPL/AEP Deal contacts:
 Tommy Yanowski
 Brian Redmond
 Patrick Wade
 Dave Banks (AEP IT VP)  614-324-5063

  Canada SUNCOR and PETROCANADA deals:
 Peggy Hedstrom
 Laura Scott
 John Lavorato
 and there's another guy who was the originator - Peggy Hedstrom should know
who it is

Tommy knows you will be calling.  What is your approach for contacting and
gathering information?  I was just thinking maybe we should contact to let
them know what we're doing if that makes things easier for your contact.
What do you think?


Tom,

Below is a copy of the weekly marketing report from November 19-21, 2001.  If there are any questions, please let me know.

Thanks

--Forrest

Forrest Lane
Analyst
Commodity Logic
(713) 345-7643
forrest.lane@enron.com


---------------------- Forwarded by Jason Sokolov/HOU/ECT on 04/30/2001 05:02
PM ---------------------------

Tracy Pan <pcp@pop.ruf.rice.edu> on 04/30/2001 11:09:19 AM
Please respond to pcp@rice.edu
To: Jason.Sokolov@enron.com
cc:
Subject: Energy Derivatives Project Tracy Pan Part 2

-----Original Message-----
From: Jason.Sokolov@enron.com [mailto:Jason.Sokolov@enron.com]
Sent: Monday, April 30, 2001 8:16 AM
To: pcp@rice.edu
Subject: Re: About the Energy Derivative Project

Tracy,
Break it down into 8000 files of 1 kB, and send each one in a separate
mail.

Just kidding!
Try to send the whole thing.
If one of the servers refuses to accept it, then break it down into several
pieces.
I know for sure that I can take files as large as 2MB.

Jason

 - 665 Team Project--Tracy Pan Part 2.xls


---------------------- Forwarded by Judy Hernandez/HOU/ECT on 11/09/2000
09:06 AM ---------------------------

Shauncy Mathews
11/09/2000 08:47 AM
To: Janet Warri/NA/Enron@Enron, Elida Aguilar/Corp/Enron@Enron, Donna
Ruff/Corp/Enron@ENRON, Lisa Shoemake/HOU/ECT@ECT, Leticia
Flores/NA/Enron@Enron, Lori Boutte/Corp/Enron@Enron, Judy
Hernandez/HOU/ECT@ECT
cc:
Subject: Re: FW: THIS IS SWEET, I BETTER GET IT BACK

---------------------- Forwarded by Shauncy Mathews/HOU/ECT on 11/09/2000
08:46 AM ---------------------------

Lori Boutte@ENRON
11/09/2000 08:41 AM
To: EvaGonzalez@clearchannel.com, Donna Ruff/Corp/Enron@ENRON, Albernita
Travis/Corp/Enron@Enron, Elida Aguilar/Corp/Enron@Enron, Shauncy
Mathews/HOU/ECT@ECT, Eileen Buerkert/NA/Enron@Enron, Kathy Bass/HOU/EES@EES
cc:
Subject: Re: FW: THIS IS SWEET, I BETTER GET IT BACK

Thanks,

Lori Boutte'
IT Sourcing and Procurement
Enron Corp
(713) 345-6253

	EvaGonzalez@clearchannel.com
	11/09/2000 08:28 AM

		 To: lori.boutte@enron.com
		 cc:
		 Subject: FW: THIS IS SWEET, I BETTER GET IT BACK

-----Original Message-----
From: Vasquez, Angela [mailto:avasquez@trinity.edu]
Sent: Thursday, November 09, 2000 8:23 AM
To: 'Josie Zamora'; 'Eva Gonzalez'
Cc: Cardona, Maria
Subject: FW: THIS IS SWEET, I BETTER GET IT BACK

-----Original Message-----
From: Cardona, Maria
Sent: Thursday, November 09, 2000 8:06 AM
To: Bass, Candace; Castillo, Maria; McKeon, Jeanne M.; Ramon, Cassandra;
Vasquez, Angela; Nelda Benavidez (E-mail)
Cc: Monica Lopez (E-mail); Monica Lopez (E-mail)
Subject: FW: THIS IS SWEET, I BETTER GET IT BACK

-----Original Message-----
From: Lopez, Monica [mailto:mlopez@KSEC.com]
Sent: Wednesday, November 08, 2000 5:17 PM
To: Bledsaw, Lillian; Bumagat, Lilian; Romero, Yolanda; Wolfe, Crystal;
'anastacia.bungay@philips.com'; 'Cardona, Maria'; 'Bryan R. Lopez / BBB
Silicon Valley'; 'Lisa Urbina'
Subject: FW: THIS IS SWEET, I BETTER GET IT BACK

[Lopez, Monica]  REPEAT~
>
>
>
>
> You MUST pass this rose on to at least 5 people within the hour of
> receiving this rose. After you do, make a wish. If you have passed it on,
> your wish will come true
> >
> >             You're...
> >             My friend,
> >             my companion,
> >             through good times and bad
> >             my friend,
> >             my buddy,
> >             through happy and sad,
> >             beside me you stand,
> >             beside me you walk,
> >             you're there to listen,
> >             you're there to talk,
> >             with happiness,
> >             with smiles,
> >             with pain and tears,
> >             I know you'll be there, throughout the years!
> >
> >             You are all good friends to me and I am grateful to you.
> >      Forward this to all your good friends online to show
them
> >             you are friends.
> >
> >             If you send this to:
> >             1 person - you are lonely   :(
> >             2 people - you have a couple friends, but not many :(
> >             3 people - you have a few friends...
> >             4 people - you have some friends...
> >             5 people - you have several friends!!
> >             6 people - you have many friends!!
> >             7 people - you are sooo loved!!
> >
> >

 - image001.gif


Shonnie and Gerald,

I wanted  to get back to you on your request regarding using our due
diligence report for your schedule on Title.

I have reviewed the full report and talked with the Global representative who
prepared it and I have concerns about the state of the easement/license
activity and am not inclined to provide the report to you for use as a
schedule.    I'm working on language to include in the PSA as necessary to
protect Northern Border in this regard.  I will forward to you when
available.


FYI
---------------------- Forwarded by Scott Earnest/HOU/ECT on 07/18/2000 09:27
AM ---------------------------

Tim Poullain-Patterson
07/18/2000 04:11 AM
To: ECT European Middle Office
cc: Richard Sage/LON/ECT@ECT, Phil Redman/LON/ECT@ECT, Beth
Apollo/LON/ECT@ECT, Stephen Wood/LON/ECT@ECT, Michael Heap/LON/ECT@ECT, Alex
Holland/LON/ECT@ECT, Andrew Cornfield/LON/ECT@ECT, Naomi Connell/LON/ECT@ECT,
Fernley Dyson/LON/ECT@ECT, Eric Gadd/LON/ECT@ECT, Scott Earnest/HOU/ECT@ECT,
Bruce Garner/Corp/Enron@ENRON, Amita Gosalia/LON/ECT@ECT, Lara
Fields/HOU/ECT@ECT, Fiona Grant/LON/ECT@ECT, Tani Nath/LON/ECT@ECT, Janine
Juggins/LON/ECT@ECT, Andrea M Kerch/LON/ECT@ECT, Lloyd Fleming/LON/ECT@ECT,
Barry Sangster/LON/ECT@ECT, Shona Wilson/NA/Enron@Enron, Brent A
Price/HOU/ECT@ECT, Claire Wright/LON/ECT@ECT
Subject: MG Middle Office Integration : Fortnightly Newsletter

Hi,

As you will have seen today in     an announcement is to be made on the
London Stock Exchange this afternoon stating we have gone wholly
unconditional on our offer to acquire MG plc.

Though the accounting consolidation date will be the end of the month, we
will effectively "own" the trading positions as of close of business
yesterday (if anyone wants clarification on the distinction between these two
dates please call). Therefore, as far as possible we need to have a
recognisable "middle office" in place to ensure transparency of trading
positions and results, efficient and controlled operational processes,
segregation of duties; in a nutshell, no accidents!

So, where are we...

1) Last Week ...

Valuation Review - Andy Cornfield and I completed a detailed review of
trading positions and associated valuations to ensure that from cob
yesterday, all positions were correctly valued in line with Enron's valuation
methodology.

SAP - Wayne Andrews (Project Apollo Director) was over from Houston to
kick-off the "MG migration to SAP" project. Michael Heap will be leading this
project from London with a focus on establishing a project plan over the next
few weeks.

Remote Offices -  MG have offices all over the world and it is important to
distinguish between "trading" offices, that are permitted to "commit" the
firm, and origination and representative offices that service the "trading"
offices. Enron staff have been visiting all of MG's offices over the past few
weeks so we can ensure that appropriate controls are established around the
different types of office.

2) This Week

DPR -  yesterday Sheila Foo produced a DPR for the entire MG operation,
sub-divided into five distinct business units for onward reporting to Enron
and MG senior management. Mary Thambiah will be consolidating the results
with those of Enron Europe from cob today - the first day we "own" MG's
trading results.

Doorstep and Process Review - a "Doorstep" controls review was performed by
Brent Price two weeks ago, and provisional findings noted. However, a deal
test is still outstanding and we are inviting AA back to this week to
complete it. We are also asking AA to document work flow and systems
processes so we have a better understanding of the integration points as we
move the MG business on to the Enron Middle Office model.

3) Lastly, attention model train enthusiasts...

MG have about eight meters of LGB standard gauge track, a couple of
locomotives and an array of rolling stock - problem is that the network fell
over a couple of weeks ago (I blame it on Gerald Corbett!). Are there any
model train enthusiasts out there prepared to give up some of there time to
fix it? Any offers for help will be accepted on a confidential basis -
anonymity assured!!

Please don't hesitate to call if you have any questions on any of the above x
34264.

Regards,
Tim


Either is fine with me, but on Thursday I'm not available after 5:30.
		Bill Maines

-----Original Message-----
From: Truss, Stephanie [mailto:Stephanie.Truss@ENRON.com]
Sent: Monday, November 05, 2001 2:52 PM
To: Wilson, Garry D.; Nemec, Gerald; Owen, David; wmaines@mfml.com
Subject: Texaco Arbitration

I was not successful in getting a telephonic meeting scheduled last week.
Please let me know if you are available this week, specifically tomorrow
afternoon or Thursday afternoon.  Thank you!

____________________________________________
Stephanie M. Truss
Senior Administrative Assistant
Enron Wholesale Services
1400 Smith Street
Houston, Texas 77002
(713) 345-3861 - Telephone
(713) 646-3490 - Facsimile
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


Thanks for letting us know about Blake.  I just tried to reach him and left a
congratulatory message on his answering machine.


Gossett officially asked me for my accomplishments today.  I have to have
them done by tomorrow night.  So I guess that's what I'll be doing the rest
of the day(not that I've had that many accomplishments just that it'll take
me that long to think of something.)  I knew I might as well add that last
crack b/c if I didn't you would have!

Robin


Angela -

The value proposition for a customer is related to which buckets of cost would be bypassed by switching to DA.  If a customer goes DA after August 24, 2001 (based on the discussion about surcharges in the legislation that has only passed the Assembly Energy Committee last night - with still a very low probability of success of being signed by the Governor), the customer would pay for SCE undercollection (PG&E isn't being discussed on this piece), DWR bond costs, and DWR net unavoidable.   The hardest piece to calculate - which Belden said on the last call he simply couldn't given the tremendous uncertainty - is the DWR net unavoidable.  If the customer has been DA since July 1, the customer could avoid the DWR net unavoidable (but the legislation could change or not pass and the CPUC could do something else).

Each customer needs to appreciate this latest information and make a determination about what these amounts will be - the key question I'd ask a customer is that they need to try and keep their options open.

Of course, all of this assumes that the CPUC doesn't go back and suspend DA even earlier than July 1 or something else crazy happens - remember this is California.

Jim
 -----Original Message-----
From: 	Schwarz, Angela
Sent:	Wednesday, August 29, 2001 6:59 PM
To:	Steffes, James D.
Subject:	RE: Direct Access

EOP has been under contract since July 1, does that make a difference?

From:	James D Steffes/ENRON@enronXgate on 08/29/2001 05:00 PM
To:	Angela Schwarz/HOU/EES@EES
cc:
Subject:	RE: Direct Access

Thanks for the info.  While there may be some differences in presentation, there don't appear to be any basic differences in the analysis.  All of the discussions of the legislation need to be aware that the passage is highly uncertain.

I agree with the analysis that if you have never been DA and sign up today there is a very large possibility that you will pay a surcharge (assuming the legislation passes).

Let me know if there is anything else.

Jim

-----Original Message-----
From:	Schwarz, Angela
Sent:	Wed 8/29/2001 2:02 PM
To:	Steffes, James D.
Cc:
Subject:	Direct Access

---------------------- Forwarded by Angela Schwarz/HOU/EES on 08/29/2001 02:02 PM ---------------------------

Gary Odland
08/29/2001 01:38 PM
To:	Angela Schwarz/HOU/EES@EES
cc:	Jeff Gale/HOU/EES@EES
Subject:	Direct Access

Attached is a CA DA brief that Frank received from Les Spahn.  Les has opinions that are different from what we have been advising Frank and EOP.  I need your opinion on how to address these differences.  Thanks.
---------------------- Forwarded by Gary Odland/HOU/EES on 08/29/2001 01:36 PM ---------------------------

Frank_Frankini@equityoffice.com on 08/29/2001 11:55:15 AM
To:	godland@enron.com
cc:
Subject:	Direct Access

Gary, I need Enron's comments on this ASAP.
----- Forwarded by Frank Frankini/Engineering/Corporate/Equity_Office on
08/29/2001 11:54 AM -----

                    "Les Spahnn"
                    <spahnn@hnks.c       To:
                    om>                  cc:
                                         Subject:     Direct Access
                    08/27/2001
                    04:51 PM

All:
A lot of runors are swirling around.  There is legislation pending right
now as I write this e-mail.  The outcome is uncertain.  But here is what I
know and what I have been working on for BOMA.
First, the CPUC continues to threaten that it will suspend DA on September
6th, including any DA contract signed since last January.  The PUC has
threatened this several times and has deferred action several times pending
action on the issue by the legislature.  Even if the PUC were to act, the
legislature could override their action with a statute.  But I anticipate
that they will not act as long as the legislature is actively considering
the matter and does something before recessing for the year on September
14th.
The real action is in the legislature.  There is a comprehensive bill -- SB
78XX, the centerpiece of which is a bailout of Southern California Edison.
For DA or anyhting else in the energy arena to happen, the Governor and the
Assembly Democratic leadership insist on having a bailout of Edison.  Here
are the details of the bailout and DA which is linked to it:

1) The state would securitize $2.9 billion in bonds to help SCE pay its
debts.  Those bonds would be repaid by Edison customers who use 20kW or
more in peak daily demand.  That would translate to about 0.06 (as in
6/100ths) of a penny per kW.  The original proposal was to place the
bailout burden only on SCE customers who use 500kW peak demand, which would
have been maybe 1.5 cents per kW (since the base would have been much
smaller), but  we beat that back to the current proposal of 20kW.

2) The Edison surcharge would be non-bypassable.  That means that Edison
customers are going to pay it whether you get your juice through Edison or
from a DA contractor.  If anyone is telling you that you can avoid the
Edison bailout surchage by going DA they are lying!

3) The bill would permit DA going forward if there is demand (load) which
exceeds supply as calculated as follows: DWR contracts + IOU retained
generation + IOU long term contracts.  If this delta, or headroom exists as
of 1/1/03, then, per PUC regs,which are yet to be devloped, the Calif.
Energy Commission would periodically permit DA contracts up to the amount
of headroom, without the customer having to pay the state an exit fee.  (An
exit fee is a fee which would otherwise have to be paid to the state by a
customer for the customer's proportional share of the state's stranded
costs which accrue from power contracts bought by DWR, but for which there
is no market.)  If no headroom exists, a customer still could go DA, but
pay the exit fee to do so.

4) A major issue is what DA would be permitted and what would be suspended.
Right now the proposal is to permit all DA contracts that existed prior to
1/17/01 to continue without penalty.  It looks like contracts signed
between January and June would also be permitted to remain without penalty,
but that date is not definite.  Contracts signed between June and August
24th would also be permitted, but may have to pay some sort of retroactive
exit fee, on a sliding scale, depending on the date they were signed.  All
DA contracts after August 24th would be subject to the 1/1/03 schedule
described in #3 above.

In addition to an Edison surcharge for Edison customers, and exit fees for
DA customers when no headroom exists, there will be another surcharge for
all non-municipal customers who have bought power through an IUO since
January 17th.  That surcharge would be to payoff $13 billiion in state
revenue bonds which would be to repay the state General Fund for power DWR
bought since January.

Where does BOMA, and the rest of the business community stand on these
issues?

1) BOMA has been O.K. with the bond surcharge because every IOU electric
customer has been paying subsidized rates for electricity since Jan. 17,
when the IOUs became uncreditworthy and DWR started buying spot market
power.

2) While BOMA and others are not happy with the price and amount of DWR
long term contracts, we understand the state is CURRENTLY on the hook for
them, and wants to be held harmless for their costs.  BOMA and other
business groups are pushing to have as many of those contracts renegotiated
or abandoned where possible to make more headroom available for DA without
exit fees.

3) BOMA supports another provision of the bill which would rebate any
surplus electricity revenues after the first $500 million to ratepayers
based on each customers proportional share of consumption and electric rate
payments.  This provision is designed to soften the rate increases on
customers who have experienced rate increases greater than 50% in the last
few months.

4) Finally, BOMA is not happy with a ratepayer bailout of Edison.  But the
Governor seems to want it more than breath and he is strong arming everyone
he can see, including all business groups, to help get it enacted.  In that
light, BOMA supported a position that all ratepayers, residential as well
as business pay the debt.  The legislature, however, did not want to pass
this cost on to residential customers, so then it became a fight over where
the consumer threshold would be.  As stated above, we have suceeded in
getting it as low as 20kW peak demand.  (NOTE:  There are those that feel
it is worth bailing Edison out and getting them creditworthy in order to
get the state out of the energy business.  You can decide for yourselves.)

5) It should also be noted that the Edison, bond and DWR surcharges may all
be covered in the existing rates you are now paying.  That is to say that
there may be no need to raise rates again to meet these obligations since
the market price for power has come down substantially.  But this remains
to be seen.

There is more to this package and moer to come i9n terms of changes.  The
committee is going back in at 6:30 this evening and we will see what
happens.  I hope tis helps you in understanding the situation.

Les Spahnn

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
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  The information contained in this communication may be confidential, is
intended only for the use of the recipient named above, and may be legally
 privileged.  If the reader of this message is not the intended recipient,
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this communication, or any of its contents, is strictly prohibited. If you
      have received this communication in error, please re-send this
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Please address, and I'll check with Legal as well.  We typically only book
deals when everything is signed off.  Jeff
----- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/26/2001 11:58 AM -----

	David Hoog
	01/26/2001 09:37 AM

		 To: Jeffrey A Shankman/HOU/ECT@ECT
		 cc:
		 Subject: multi-trigger option contract

following up on our discussion yesterday; for these types of deals, i dont
think its necessary to have all the documentation of our counterparty's
authorization to enter into the agreement.  these are short term transactions
and requiring this documentation will cause us to lose business because
competitive alternatives do not have such burdensome requirements.

the primary reason we need these things is for the scenario where a muni does
a derivative deal with an open-ended downside, loses $50 million, and then
claims that it was not a valid contract.  in our case, they are only
hedging.  we are collecting a premium up front and their total cost is known
up front.  therefore they will not attempt to make this claim.  even if they
did, our risk is limited to the premium , not some big payout.

the risk of losing business is far greater than the risk of a counterparty
trying to get their premium back.  seems like a 5 second decision to me.

is it possible to combine the standard isda and our confirm into a single
long form?  by going away from the standard isda maybe we can eliminate these
requirements because the payout liability is only 1-way.


Here's one for you to chew on for awhile.  As we approach the transition to a
new organizational structure in ET&S, let's rethink the role and competencies
of the legal department.  I'd like each of you to answer the following
questions and circulate your answers to me and each other.  To avoid having
anyone's answers unduly influenced by anyone else's, please send your
responses at 12 noon on Thursday.  No, this isn't being graded, and doesn't
affect the PRC process or any other process.  I just want to get access to as
much original thinking as possible.

1.  What is the ET&S law dept. currently best at?  (give one example).

2.  What is the ET&S law dept. currently worst at?  (give one example).

3.  Without regard for any past objectives, what should our top 3 objectives
be?  (make these very specific--objectives like "We should manage legal and
regulatory compliance and optimize shareholder value"  don't cut it).

Thanks for your responses.  DF


Here is a one pager you can use with customers.  I also attach the draft filing -- Bob Williams and Mike Smith and I are meeting this afternoon (4 pm ) Houston time to see if there are any EES legal issues with it -- so don't release the full draft until you hear from me.
Sue Mara
(415) 782-7802
---------------------------------------------------------------------------------------------------------------
CPUC SUSPENDS DIRECT ACCESS -- TAKE ACTION
What Did the CPUC Do:   The CPUC voted at its meeting on September 20, 2001 to suspend direct access immediate. Included in the order is reference to a subsequent order that would address additional issues. The order also put everyone "on notice" that the Commission could modify the order later to suspend direct access retroactively to July 1, 2001.
What Action is Required:  Many believe that the CPUC did not have valid reasons for suspending direct access and has no right to abrogate contracts retroctively, as it has threatened.  Consequently, concerned customers and energy service providers are preparing a Request for Rehearing that must be filed with the CPUC by Friday, September 28, 2001.  The Legislature enacted a special statute governing this and related decisions.  This first step is required by that statute.  If the CPUC denies the request (as expected), the next step would be a direct appeal to the State Supreme Court, which is also required by that same statute.
What Will The Request for Rehearing Include:  A Request for Rehearing must raise the errors of law made by the CPUC in its order. The attorney for the Alliance for Retail Energy Markets (AReM) has prepared a draft. The primary reasons cited for why rehearing should be granted are as follows:
The Decision violates procedural due process guarantees.
The failure to hold hearings violates Public Utilities Code section 1708.5(f).
The Commission's reliance on material outside the record violates due process.
The Decision violates the Commerce Clause of the United States Constitution.
The threatened retroactivity is contrary to law and in excess of the Commission's authority.
The Commission acted contrary to law and in excess of its authority.
The Decision's purported findings are not supported.
The Commission has impermissibly converted a ratemaking proceeding into a quasi-legislative proceeding.
What Can You Do:  Sign on to the Request for Rehearing and contact your elected state representatives to let them know that direct access must be reinstated.


Daren,

 I am sorry I completely forgot to provide you with the meters, there should
be a total of eight.  Please let me know when you have it set up.  Thanks

Thu


Sara, attached is a draft of our opinion.  I am still waiting to
hear from my contact at MARTA, so this subject to revision.  Please send me
the SWAP documentation at your earliest convenience.  Thanks.
<<18L%G01!.DOC>>

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - 18L%G01!.DOC


Good Morning,

Rudy was out of control last night!  Are you going out tonight?  I'm going to power mart @ 2:45  till 5:00 then to the 4 seasons for Reliant party...then to Calpine's party @ 7:00!  Are you going to go with us?  Now that you know what I'm doing im sure you be there....

-me

-----Original Message-----
From: Kroll, Heather
Sent: Thursday, October 11, 2001 10:10 PM
To: Stepenovitch, Joe
Subject:

Wow. So I didn't go to hot yoga and you didn't answer our calls to come meet us. What's up with that?  Should I take it personally?

H
Heather Kroll


Come on man- you need help?  I am willing to talk receiver and RB swaps


Mark,

Please see attached,

Thanks,
Hollis


Call me on Saturday 713-661-6096


fyi
---------------------- Forwarded by David W Delainey/HOU/ECT on 10/10/2000
10:14 AM ---------------------------

David W Delainey
10/10/2000 10:13 AM
To: Frank W Vickers/HOU/ECT@ECT, Barry Tycholiz/CAL/ECT@ECT, Laura
Luce/Corp/Enron@Enron
cc:
Subject: 2000 ENA Offsite

Please mark on your calendars to attend given current discussions about the
gas organization.

Regards
Delainey

---------------------- Forwarded by David W Delainey/HOU/ECT on 10/10/2000
10:12 AM ---------------------------

David W Delainey
10/10/2000 10:12 AM
To: Janet R Dietrich/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Tim
Belden/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Scott Neal/HOU/ECT@ECT,
Hunter S Shively/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, Thomas A
Martin/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT, Jeff
Donahue/HOU/ECT@ECT, Rob Milnthorp/CAL/ECT@ECT, Max Yzaguirre/NA/Enron@ENRON,
C John Thompson/Corp/Enron@ENRON, Scott Josey/Corp/Enron@ENRON, Brian
Redmond/HOU/ECT@ECT, Jean Mrha/NA/Enron@Enron, David Oxley/HOU/ECT@ECT, Mark
E Haedicke/HOU/ECT@ECT, Joseph Deffner/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT,
Beth Perlman/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Wes
Colwell/HOU/ECT@ECT
cc: Mark Frevert/NA/Enron@Enron, John J Lavorato/Corp/Enron@Enron
Subject: 2000 ENA Offsite

Guys, please mark your calendars for the 2000 ENA Management Offsite
scheduled for December 14th and 15th at the Venetian in Las Vegas.  We
envision people flying in the afternoon/evening of December 13th with the
offsite being held on December 14th and 15th.  Departure would occur the
morning of December 16th.  It is important that everyone stays for the entire
period including Friday night.  Jeff Skilling and Greg Whalley have taken
time out their schedule to speak to us on Thursday and Friday night about
Enron Corps strategy and our eCommerce/Networks strategy respectively.

A complete agenda will follow shortly.

Dorie Hitchcock will manage all the logistics.

Regards
Delainey


I'm in.  thanks so much.

Best,
Jeff

-----Original Message-----
From: Teresa Janus [mailto:tj@Haas.Berkeley.EDU]
Sent: Friday, September 07, 2001 5:42 PM
To: jhowe@haas.berkeley.edu; jagannat@haas.berkeley.edu;
dasovich@haas.berkeley.edu; brodie@haas.berkeley.edu;
vshah@haas.berkeley.edu; vavrek@haas.berkeley.edu;
dshah@haas.berkeley.edu; greenfie@haas.berkeley.edu;
chin@haas.berkeley.edu
Subject: Deals

Hi,

You have just been officially added to E278 Deals.  Please come by to pick
up your book in the Evening MBA office.  If you don't want to add this
class, please let me know right away!

Thanks,
TJ


-----Original Message-----
From: 	Polsky, Phil
Sent:	Wednesday, October 24, 2001 7:57 AM
To:	Grigsby, Mike
Subject:	Summary for Grigsby.xls

MIke,

Attached is the updated summary regarding expansions in the west.  There is only one change - PGT 2003 expansion.  The expansion has now dropped from 230,000 MM/d to 160,000 MM/d due to PPL dropping out.

Let me know if you need anything else.

Phil


As you know, Enron Wholesale Services (EWS) has been reorganized under the leadership of CEO Jim Fallon.  Rich DiMichele supports Jim as COO of EWS, while also continuing in his role as head of Enron Broadband Services (EBS).  EWS businesses include:  Enron North America, EBS, Enron Industrial Markets, Enron Global Markets, Enron Europe and Enron Canada.  EWS' business focus remains on maximizing creditor value and determining which businesses and assets will be a part of Enron's reorganization plan.

In addition to Rich, reporting to Jim are:

?	Don Miller - ENA
?	Gary Hickerson - EGM
?	Rodney Malcolm - EIM
?	Eric Shaw - Enron Europe
?	Kyle Kitagawa - Enron Canada
?	Lance Schuler - General Counsel
?	Barry Pearce - Chief of Staff
?	Dave Gorte - RAC
?	Kent Castleman - Accounting
?	Shanna Funkhouser - Human Resources

Enron Wholesale Services

<Embedded MS Organization Chart 2.0>


It looks like we won't have to open the account today.  However, we should
send the account agreement to the person in Brazil who will sign (or we can
send it to the lawyer in Brazil whose name is Robert George).  Come see me to
explain further.  Thanks.   ss


Please find attached the following article/s:
'Who dares wins' - Investors Chronicle

Kind Regards,
Kuldeep Chana


On a serious note, I got a call from Larry this past week and he told me that Lee Christie's mom past away last Sunday. She was only 61.  I've been playing phone tag with Lee to see how he's doing.
I don't think he has e-mail either or you could send him a note. Lee doesn't believe in the new technology.
If any of you on this list have other Phi's e-mail addresses send them to me and I'll compile a master list.  We can trash talk all we want.
Bubba


Tanya,

Can you E-mail to me the graph showing VaR for a frozen portfolio, over
one year?

Vince

Tanya Tamarchenko
06/20/2000 03:39 PM
To: Vladimir Gorny/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT, Grant Masson/HOU/ECT@ECT
Subject: Re: backtesting for different percentiles

Vlady, I enclosed the file with 2 backtesting plots (you saw them before).

The following table shows what was the percentage of the days when PnL fell
below VAR95, VAR90, VAR85.
These results are based on the real NG forward prices from 1/1/99 to 6/7/00
for 2 different portfolios:
-Portfolio 1 contained the positions equal to NG-PRICE-PRC portfolio
positions on 6/6/00,
-Portfolio 2 consists of the positions equal to STORAGE-PRC positions on
5/25/00.

_____________________________________________________________________
Portfolio 1
     VAR95  VAR90  VAR85
Implied Vols    2.93  4.11  5.57
Historical vols with Decay=1  7.62  12.02  15.54
Historical vols withDecay=0.97  6.75  12.02  15.54
Historical vols withDecay=0.94  6.45  12.02  15.54
_____________________________________________________________________
Portfolio 2
     VAR95  VAR90  VAR85
Implied Vols    4.1  6.74  9.97
Historical vols with Decay=1  7.04  11.14  15.84
Historical vols withDecay=0.97  6.74  10.56  16.13
Historical vols withDecay=0.94  7.04  11.14  15.84
____________________________________________________________________
This shows that when we have more observations (columns corresponding to
VAR90 and VAR85)
compared to the column corresponding to VAR95 the frequency of Curve Shift
being lower than VAR
becomes closer to the theoretical value (5%, 10% and 15%). The numbers in the
column "VAR85" are
very close to 15%. This is the argument in favor of using historical vols.
And also the results do not depend on the decay factor in this experiment.

Also notice: the numbers in column "VAR95" are higher than 5% and this is an
indication of fat tails.

Let me know if you have any questions.

Tanya.


Drew, Rob and I both would like for you to continue attending the staff meetings. Jim

 -----Original Message-----
From: 	Fossum, Drew
Sent:	Wednesday, September 26, 2001 11:36 AM
To:	Derrick Jr., James; Walls Jr., Rob
Subject:	Staff Meetings

Would you like me to continue attending Jim's Thursday staff meetings, or report in through Robbie?  Thanks.  DF


Article on groundbreaking of first of [possibly] several new large IPP plants
near Palo Verde...

Pinnacle West buys plant, readies expansion
Pinnacle West Energy, a generation subsidiary of Pinnacle West Capital, has
bought a 72- MW power station from Sierra Pacific Resources subsidiary Nevada
Power and plans to add a 500-MW facility at the site.

The purchase of the Harry Allen power station, located 30 miles northeast of
Las Vegas, totaled $65.2 million, after adjustments for purchased power
commitments, and is part of Sierra Pacific,s ongoing divestiture program. The
sale agreement calls for all power generated by the station to be sold under
contract to Nevada Power through February 2003.

Calling the purchase &a strategic link8 in efforts to increase generation in
the West, Pinnacle  West said that, as demand grows in the region, it intends
to add a 500-MW, gas-fired, combined-cycle unit at its new site.

&This is a very important step in our overall growth strategy to remain one
of the top power producers in the West,8 Pinnacle West Energy President Bill
Stewart said. &There are tremendous opportunities to expand the capacity at
this site, and it,s ideally situated to help meet the increasing demand
through the Southwest.8  Fueled by natural gas or diesel oil, the Harry Allen
station currently produces electricity for southern Nevada and surrounding
markets.

In addition to the Nevada project, Pinnacle West has been actively developing
other generation in the region. The company has set Dec. 19 as the
groundbreaking for its 2,120-MW Redhawk Power Plant, the largest of its
current power projects. Located near the Palo Verde nuclear plant, 55 miles
west of Phoenix, the facility will help meet increasing demands for
electricity in Arizona and throughout the Southwest, according to Stewart.
The Redhawk project,s first two units are slated to begin commercial
operation in the summer of 2002.


Rob,
After reviewing both Lauren's and Jeff's comments, I have little to add.  I
would, however, replace the last part of Jeff's sentence in the first
paragraph with "and there is a need to take a comprehensive look at
strategies for reducing CO2  emissions more broadly, in ways that make
economic and environmental sense" to avoid mentioning the Kyoto Protocol
directly.
And, I'd like to reiterate Lauren's suggestion that the article should direct
employees to our climate change policy statement in last year's EHS Report
and that Lay encourages them to research and reflect on the issue and
communicate their thoughts.
Thanks,
Catherine

Catherine McKalip-Thompson
Manager, Environmental Responsibility
Enron Corp.
101 California Street, Suite 1950
San Francisco, CA 94111
Tel: 415.782.7842
Fax: 415.782.7854

	Jeffrey Keeler@ENRON
	03/23/01 08:35 AM

		 To: Rob Bradley/Corp/Enron@ENRON
		 cc: Ann M Schmidt/Corp/Enron@Enron, Lauren Iannarone/NY/ECT@ECT, Michael
Terraso/OTS/Enron@Enron, Steven J Kean/NA/Enron@Enron, Catherine
McKalip-Thompson/Enron Communications@Enron Communications
		 Subject: Re: Ken Lay Statement to Employees on Bush CO2 Policy

Rob:  Here are my edits below, in bold.  Sorry to re-write so much -- but I
believe this is consistent with Steve's conversation with Ken, and with the
media interviews he has given to date, as well as our advocacy on
multipollutant and climate change.  Jeff

Jeffrey Keeler
Director, Environmental Strategies
Enron
Washington DC office - (202) 466-9157
Cell Phone (203) 464-1541

	Rob Bradley
	03/23/2001 10:14 AM

		 To: Jeffrey Keeler/Corp/Enron
		 cc: Michael Terraso/OTS/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Lauren
Iannarone/NY/ECT@ECT, Ann M Schmidt/Corp/Enron@ENRON
		 Subject: Ken Lay Statement to Employees on Bush CO2 Policy

(KEELER EDITS)
Here is my draft for Ken in response to Ann's eBiz request.  Comments welcome

"The President, after a good deal of study and soul searching, decided not to
support mandatory controls on carbon dioxide (CO2) emissions from power
plants as part of a multipollutant clean air strategy.   His decision was
based on some very important factors -- the nation's energy markets are
experiencing unprecedented supply and price challenges that any CO2 mandate
could exacerbate; and U.S. regulation of CO2 in the near-term could be
ill-advised because the Kyoto protocol on global treatment of greenhouse gas
emissions is unworkable in its current form.

"I was somewhat concerned that the message sent by the Bush administration
would polarize the debate over how the U.S. should treat CO2 emissions in the
long term, as his statement did provoke a very negative "anti-environment"
reaction by many concerned individuals and organizations.  Because this is an
important issue to all parties on all sides of the debate, I believe that the
administration should convene an ongoing process to carefully examine global
climate change and all the long-term economic, scientific, and social impacts
of action regulate CO2 emissions."

"The President's position on CO2 notwithstanding, Enron continue to be a
private sector leader in offering real solutions towards reducing greenhouse
gas emissions in a rapidly expanding energy market.  We are well-positioned
through our experience with low-carbon fuels for electric generation (natural
gas and wind in particular), our focus on new power generation and
tecnologies, our leadership position in promoting efficiency through Enron
Energy Services' energy outsourcing business, and our expertise in emissions
trading and risk management."

"A multipollutant appraoch to reducing power plant emissions makes a lot of
sense from and environmental and energy policy standpoint.  Enron will
continue to work with the Bush administration and Congress toward structuring
a program that can achieve environmental goals while providing incentives to
build cleaner, more efficient generation, promoting a broad mix of fuels and
tecnologies, and giving industry the flexibility and economic incentives to
make reductions in a market-based, cost-effective way.  If we're able to make
meaningful reductions in 3 pollutants -- NOx, SO2 and mercury -- and we do it
in a way that promotes efficiency and new technology, we'll make progress on
CO2 whether it is regulated or not."

In the meantime, I will remain active in the global climate change debate to
position Enron as a constructive player in the public policy arena and as an
industry leader in promoting market-driven solutions to the world's energy
and environmental problems.

----- Forwarded by Rob Bradley/Corp/Enron on 03/22/2001 05:55 PM -----

	Rosalee Fleming
	03/22/2001 11:16 AM

		 To: Rob Bradley/Corp/Enron@ENRON
		 cc: Tori L Wells/HOU/ECT@ECT
		 Subject: eBiz Story

Rob, will you please draft a quote for Ken on these issues.
---------------------- Forwarded by Rosalee Fleming/Corp/Enron on 03/22/2001
11:06 AM ---------------------------

Ann M Schmidt
03/22/2001 11:04 AM

To: Kenneth Lay/Corp/Enron@ENRON
cc:
Subject: eBiz Story

Hi Mr. Lay,

I am a Specialist in Corp. PR, under Karen Denne, and write for our internal
eBiz publication.  I am working on a story about the recent issue with
respect to carbon dioxide emissions and Enron's position compared to
President Bush's as well as the coal industry.

I know that Bush's viewpoint on this issue is not to regulate carbon dioxide
emissions from coal-burning power plants. I also understand he based his
decision in large part due to a recent Department of Energy report that warns
that such a policy would lead to an even more dramatic shift from coal to
natural gas for electric power generation and significantly higher
electricity prices causing problems similar to California.

I wondered if you would mind adding first hand knowledge for employees.  A
quote from you about this issue would be great.  I would also be interested
in giving employees some of your reasons for being in favor of controlling
CO2 such as your idea for a credit trading system for CO2.

Thank you for your time and please let me know if you have any questions.

Thanks,
 Ann Schmidt
 (x54694)


Men,

Last night I ate my leftover NitNoi yellow chicken curry, mmmm..mmmm..
Now it wants out.

Yes, I'm bored and prohkrasstinayting(E spelling).  must go NOW!

C.


Kay:

The minute book with the certificates just arrived, so I have retrieved my
package will send it off as soon as we complete the membership certificates.
Thanks.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>

> -----Original Message-----
> From: Campbell, Carolyn
> Sent: Friday, April 27, 2001 2:12 PM
> To: 'kay.mann@enron.com'
> Subject: Documents for Signature
>
> Kay:
>
> 1.  I am now sending over a package with documents for execution by ENA or
> the LLC.  I believe that everything is included except for the membership
> certificates.
>
> 2.  Greg Lang advised this morning that the PPL membership certificate
> will need to be in the possession of the collateral agent on the closing
> date, and asked if we would agree on an understanding to have the
> certificate delivered in escrow to the collateral agent the night before
> closing.  I said we could accommodate his request.  We will need to get
> the membership certificates signed early next week.
>
> 3.  Greg asked whether ENA made the timing on its notices etc. to close on
> Wednesday, May 2.  Please advise.
>
> 4.  Greg also wants ENA to discuss with GE the timing on the delivery of
> the L/C.  This may affect the wording in the escrow disbursement
> instruction letter, but it will not affect the signature page.
>
> Thanks.
>
> Carolyn M. Campbell
> King & Spalding
> 713-276-7307 (phone)
> 713-751-3280 (fax)
> ccampbell@kslaw.com <mailto:ccampbell@kslaw.com>
>
>

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INDIAN OIL CO. PLANNING TO DIVE INTO SWAPS MARKET
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We hope your experience with the ClickAtHome ordering web site and vendors
has been exciting and fun for you!  We need your feedback to determine the
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The sale to PSE&G is in the New York book.  Judy is trying to get Transco to bill PSE&G directly for the demand charge.  We are still waiting to hear from Transco.

Brenda H Fletcher
05/10/2001 04:01 PM
To:	Chris Germany/HOU/ECT@ECT
cc:	Kimat Singla/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT
Subject:	Re: PSEG capacity

A physical forward deal with the reimbursement amount entered as an external fee in Sitara.  PSE&G would be buyer and TP-2 is seller (assuming this is a TP-2 deal).    What is the term of this deal?  Is commodity reimbursed also? Please confirm desk , provide details and I will enter the deal.

Thanks,
Brenda

	  From:  Chris Germany                           05/10/2001 03:30 PM

To:	Kimat Singla/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT
cc:	Brenda H Fletcher/HOU/ECT@ECT
Subject:	PSEG capacity

I just added the PSE&G demand charges on Transco to our capacity worksheet.  The net impact is $0 because I'm also showing this as a reimbursement.  How should we put this in Sitara.  I'm showing a transport demand charge on the capacity deal ticket.  How do we get the money back from PSE&G?

<Embedded StdOleLink>


Je pense que je suis un plaisir a est vers.  (Mes excuses, le net send ne
travaille pas.)


Did you add this onto the August invoice? If so, can you send me an updated version of that as well?
Thanks! I'll let you know how it comes across.
Valerie

 -----Original Message-----
From: 	Staab, Theresa
Sent:	Friday, September 14, 2001 3:55 PM
To:	Vela, Valerie
Subject:	Greeley Gas Revised July

Valerie,

I have adjusted the July invoice to account for the 4500 MMBtu that we delivered to Greeley on July 27, 28, 29 off of PSCO.

I also corrected a mistake on the 3rd party utilization fee.

Please redraft and let me know if everything looks ok.

Thanks,
Theresa

(I will be e-mailing this revised July along with August to Greeley).

 << File: Greeley Gas July 01 final Revised 9-14.xls >>


I tried calling you this am but your phone rolled to someone else's voicemail.  Can you call me when you get a chance?

 -----Original Message-----
From: 	Farmer, Daren J.
Sent:	Thursday, January 10, 2002 2:06 PM
To:	Hill, Garrick
Subject:	RE: Tenaska IV

Rick,

I've had a couple of meetings today.  I'm sorry I'm just getting back to you.  I tried to call but the voice mail said that you were unavailable.  So, give me a call when you get a chance.

D

 -----Original Message-----
From: 	Hill, Garrick
Sent:	Wednesday, January 09, 2002 6:11 PM
To:	Farmer, Daren J.
Subject:	RE: Tenaska IV

I'll call you on Thursday...what's a good time?

 -----Original Message-----
From: 	Farmer, Daren J.
Sent:	Wednesday, January 09, 2002 3:03 PM
To:	Hill, Garrick
Cc:	Olsen, Michael
Subject:	Tenaska IV

Rick,

We need to talk about the ability of ENA to continue its the current role as agent of Tenaska IV.

1)  Since the end on November, ENA has not been able to complete gas trading transactions.  We cannot find any counterparties to trade physical gas in Texas.  This, of course, is due to the bankruptcy.  As a result, we are not able to sale Tenaska's excess fuel.  We did contact Brazos to ask if they would buy a portion of the gas at a Gas Daily price, but they do not want it (gas daily pricing has been below the firm contract price for a while).  In December, we had to cut 10,000/day from the 7th through the 27th.  For January, we haven't had to cut yet, but I am sure that the pipe will ask us to do this in the near future.

2)  For November activity (which was settled in Dec), ENA owes Tenaska IV for the excess supply that we sold.  However, due to the bankruptcy, we could not make payments out.  ENA could not pay the suppliers or the pipeline.  James Armstrong paid the counterparties directly.  I think that he should continue to do this for Dec and Jan.  We should not transfer any funds from Tenaska IV to ENA.

I don't know how Enron's ownership in the plant factors out in the bankruptcy preceding.  But we need to determine how to go forward with the fuel management.

Please give me a call or e-mail me.  We can get together sometime Thurs or Fri morning.

D


deal 597100
can you please ch the time to 2:00 p.m. not 2:00 a.m. for the exercise time.

---------------------- Forwarded by Evelyn Metoyer/Corp/Enron on 05/01/2001
02:10 PM ---------------------------

Evelyn Metoyer
05/01/2001 02:02 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: option date - 597086

deal 597086
can you please ch the time to 2:00 p.m. not 2:00 a.m. for the exercise time.

Thanks


Start Date: 1/15/02; HourAhead hour: 6;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011506.txt


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	'kensey' has removed _XAU.X (Doink) at Nov 21 2001  2:38PM
	Gold (INDE:_XAU.X)   Symbol  Last  Time  Change  High  Low  Volume  _XAU.X   50.30   2:20PM  -0.04  50.84  49.61  0  Community Take   21 Long / 2 Short

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	 Wed Nov 21 11:24:11 2001   take profits +8 percent _XAU.X short as the stochastic lines have completed navigation from overbought to oversold.  given that _XAU has essentially vibrated more than it has surfed, flat seems the way to pump the board.   _XAU not out of the woods let by any stretch having taken out key support at 52.  52 figured as support in july, early aug, mid oct and gets breached here.  so, if _XAU traces back up to near 52 level it would be one of the best short opps on gold offered in many moons.    as far as potentials for tonights NBA matchups on sportsbook.com, what stands out is the under @196 boston/atlanta in a 2 Team parlay with the under @190 memphis/cleveland.  $100 pays $260.  one might also take boston and give 8 points on a straight wager given that atlanta has lost its last 21 road games in a row.  the pistons have been on a roll.  tempting are those 7 1/2 points being offered ! against philly.   recommended _XAU.X Short on Nov 2 2001 when it was trading at 54 1/2. Since then it's gone down 8.28% to 50 1/8.   kensey
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John,

I hope you had a good Easter weekend. I typically take Monday Easter off but
this year too much was going on.

Two items I wanted to mention:

1. Tony Hamilton, weather support

Tony Hamilton, a meteorologist Ph.D. hired to support Global Markets, spent
a
few weeks in Houston, in training with Mike Roberts' team. He went back to
London 10 days ago and he hit the ground running. He is supporting not only
crude and weather derivatives, but also gas and power, and is inundated with
requests for help.

He is supported by another member of Mike Roberts' team, Steve Bennett, on a
temporary assignment (10 days planned originally).

Action recommended.

a. Extension of Steve Bennett temporary assignment for a few more weeks. I
have already authorized extension till the 27th. I shall speak more with
Tani
on Wednesday about it. ?b. ?Hiring another weather person to work with Tony
Hamilton, supporting gas and power across continental Europe.

2. Stinson Gibner

Slava is currently in Houston, learning more about research group here and
building a network of relationships. I have a very high opinion of Salvia -
he is a very bright person, very personable and hard working. I still worry
about the depth and breadth of his experience, his understanding of the
totality of Enron business and the relative ?importance of multiple
activities we have to support. I think it makes sense to have a more
experienced research person coaching him for 18-24 months. I talked to Bryan
Seyfried and Ted Murphy and they expressed similar concerns about the depth
of support they expect.

Action recommended.

I still think it makes sense to bring Stinson Gibner to London for an
extended stay. To manage Slava's expectations, I would call Stinson a Head
of
Research for Europe and Asia. His responsibility would also include
coordination of research and model building for other locations than London
where I see a lot of activity that goes on without regular audits and ?
reviews we have in Houston, and over which we have no control (except for
reacting to requests for assistance). I propose that Stinson come to London
in the next few days to discuss the potential assignment with you.

By the way, Greg Whalley agrees with the idea of a senior research person in
London. He, however, recommended Vasant - stronger work ethics is the main
consideration.

Vince


---------------------- Forwarded by Phillip M Love/HOU/ECT on 03/29/2001
03:31 PM ---------------------------

Russ Severson
03/29/2001 03:20 PM
To: Phillip M Love/HOU/ECT@ECT
cc:
Subject: Re: new mid in sitara

FYI   Most of the deals are at NBPL/Peoples
---------------------- Forwarded by Russ Severson/HOU/ECT on 03/29/2001 03:20
PM ---------------------------

Russ Severson
03/29/2001 03:16 PM
To: Phillip M Love/HOU/ECT@ECT
cc:
Subject: Re: new mid in sitara

If these are new curves today, they will not show up in CPR until 6:30 am
tomorrow.
This is the list of deals at the 2 locations.

Phillip M Love
03/29/2001 02:33 PM
To: Russ Severson/HOU/ECT@ECT
cc:
Subject: new mid in sitara

Can you set up a mid for all deals at a location of NBPL/Peoples and
PGLC/NBPL.  The intramonth curve Chi./N/Border and the gas daily curve is
GDC-Chi./N/Bord.  Can you tell me how many deals are currently in the system
for these two locations.  Sorry to rush you, but I need these in for calcing
tonight.  Thanks.
PL
3-7376