Jeff, I have looked at your fax.  This is a tough one, due to conflicting agendas.  If we are actually PAID the PX Credits (or the remaining cumulative unpaid credit balances) SCE may be correct, e.g. if an ESP's purchased wholesale energy at the PX Credit rate or lower,  than their total cost of energy supply is the same or less than that of a Bundled customer.  The impact on the TRA account should have been the same regardless of customer type, but only if they can prove the PX credit actually equals their purchase cost.  This may re-open the audit issue.  How does anyone really know that SCE did not enter into purchase contracts at other than PX - market rates?   If they did, they credits should be in this account as well.

As you know,  we have not been PAID these PX amounts.

I probably do not have enough history re the TRA accounting to give you a good defense against their argument, other than a  non-by passable charge should not apply if the credit is not PAID.

One other thought, shouldn't the amount of unrecovered TRA also be born by the utility (of course, it would help if they were not almost bankrupt).  The intent all along is the utilities were given a set period of time to recover this amount, and once the time elapsed, tough luck.  How does this play into this.  Should they be kept whole, if they were not able to execute this plan.

Thanks,
Wanda

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Wednesday, September  26, 2001 6:23 PM
To:	Tribolet, Michael; Curry, Wanda
Subject:	Edison's Argument Regarding PX Credit

I'd like to fax you something that Edison sent in support of their argument that:

1) by virture of the PX credit framework, DA customers contributed to Edison's undercollection, and,
2) DA customers should therefore contribute to the recovery of the undercollection.

Could I get your fax numbers?  Would like to get your comments once you've reviewed the argument.  Thanks.

Best,
Jeff


I already have a meeting scheduled for Friday from 2:00 to 2:30.  I will join
you in the facilitator training as soon as that meeting concludes--it may not
last a full 30 minutes.  In case I can not make the meeting, I have printed
the attachment.  Thanks.


Dear Susan,

The following items from order number 01915827

  Qty  Item#     Clr   Size             Description
    1  44201     BLK   XL               CAP MW CREW
    1  44201     VBL   XL               CAP MW CREW

shipped from Reno, NV on 11/21/2000 via UPS GROUND.

Your tracking number is 1ZE678080310712569.
You can access order tracking information by clicking the link below:
http://wwwapps.ups.com/etracking/tracking.cgi?&InquiryNumber1=1ZE6780803107125
69

Your order total, including tax is $90.41.
If you have further questions regarding your order, please email us directly
at orderreply@patagonia.com.  You may also call our Customer Service
department
at 800-638-6464.  We can be reached 6am-6pm Monday through Friday and 8am-4pm
Saturday and Sunday (Pacific Time).  Please be sure to include your order
number in all correspondence.

Thanks for shopping with Patagonia!


-----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, May 22, 2001 9:18 AM
To:	Singla, Kimat
Cc:	Storey, Geoff; Townsend, Judy
Subject:	June Deals

I purchased 6172 day from the Canadian desk at NFUL Niagara (deal 802218).  The price is NX1 plus $.23.

The buyer is East TP3.  The seller may be wrong.

Please forward to Mr. Storey's book admin.

Thanks


----- Forwarded by Steven J Kean/NA/Enron on 03/02/2001 12:28 PM -----

	Suzanne_Nimocks@mckinsey.com
	Sent by: Carol_Benter@mckinsey.com
	03/02/2001 12:04 PM

		 To: skean@enron.com
		 cc:
		 Subject: California Power Markets

Sorry that we haven't talked in some time.  I thought that you would want
to take a look at some analysis we have recently completed with regard to
the California Power Crisis.  You may find some of the analysis to be
helpful.  Let me know if you have any questions.

(See attached file: 10209 zxd414.ppt)

+-------------------------------------------------------------+
| This message may contain confidential and/or privileged     |
| information.  If you are not the addressee or authorized to |
| receive this for the addressee, you must not use, copy,     |
| disclose or take any action based on this message or any    |
| information herein.  If you have received this message in   |
| error, please advise the sender immediately by reply e-mail |
| and delete this message.  Thank you for your cooperation.   |
+-------------------------------------------------------------+
 - 10209 zxd414.ppt


Vince,

Greetings.

I write at this time to follow up on your kind intercession on our behalf
with Jeff Skilling's office regarding his participation in our Spring
Conference.  We have secured hotel rooms at the Radisson Hotel, will
shortly have to provide a guarantee on those rooms, and would therefore
like to ascertain his participation as keynote speaker the evening of Thur.
2/22.

Hope all is well.  See you Oct. 11th, if not sooner.  Best,
Ehud

==============================================
     Ehud I. Ronn
     Jack S. Josey Professor in Energy Studies
     Department of Finance
     McCombs School of Business
     University of Texas at Austin
     Austin, TX. 78712-1179
     Voice:  (512) 471-5853
      FAX:   (512) 471-5073
      Internet:  eronn@mail.utexas.edu
=================================================


Thanks!

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

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

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


How many groups does Don have?

 -----Original Message-----
From: 	Enron Announcements/Corp/Enron@ENRON [mailto:IMCEANOTES-Enron+20Announcements_Corp_Enron+40ENRON@ENRON.com]  On Behalf Of Enron Americas - Office of the Chairman@ENRON
Sent:	Wednesday, April 18, 2001 11:00 PM
To:	ENA Employees@ENRON
Subject:	Asset Marketing

We are pleased to announce the creation of a new group - Asset Marketing - within Enron Americas. The Asset Marketing group will have responsibility for the asset divestment function within Enron Americas and work with Generation Investments on selected portfolio acquisitions as well as managing power origination funding requirements with Treasury.

Don Miller will head the Asset Marketing group and will report directly to the Office of the Chair, Enron Americas. Joining Don's group will be Stuart Zisman.  Stuart was formerly in ENA Legal, having most recently worked on the sale of ENA's peaker plants with Don.

Please join us in congratulating Don and Stuart in their new roles.


[IMAGE]	Quote.com


Here it is.
PL


We got a complimentary copy of the 2/1/02 issues and I will print out a couple of copies and put them up near the receptionist.

Alan Comnes


Here is PGET risk reducing deal that Mark talked to you about.  Please
coordinate with Lisa when you get a chance on Tues.  I ill help on the power
master w Cinergy to make sure it is suitable for the underlying trades.

Thanks so much for your help.
----- Forwarded by Elizabeth Sager/HOU/ECT on 03/12/2001 04:36 PM -----

	"Meier, Peter" <peter.meier@neg.pge.com>
	03/12/2001 02:47 PM

		 To: "'elizabeth.sager@enron.com'" <elizabeth.sager@enron.com>,
"'wbradfo@enron.com'" <wbradfo@enron.com>, "'jgollomp@cinergy.com'"
<jgollomp@cinergy.com>, "'swilkerson@cinergy.com'" <swilkerson@cinergy.com>
		 cc: "Sarti, Daniel" <daniel.sarti@neg.pge.com>, "Guebert, Dave"
<Dave.Guebert@neg.pge.com>, "Barpoulis, Sarah" <sarah.barpoulis@neg.pge.com>,
"Hein, Jennifer" <jennifer.hein@neg.pge.com>, "Vallieres, Benoit"
<benoit.vallieres@neg.pge.com>, "'lisa.mellencamp@enron.com'"
<lisa.mellencamp@enron.com>
		 Subject: Cinergy and Enron Transaction

 Attached is a draft of the three party agreement between PGET, Enron
and Cinergy.  My understanding is that it is with respect to 75 MWh and I
have drafted it accordingly.  I have used the format which we and Enron have
previously used.

 In addition to your review of the Agreement generally, I need
specifically a copy of the two confirms for the Enron/PGET transactions
being terminated and I need to know the settlement payment.  Also, the
appropriate reference to the existing Enron/Cinergy needs to be included.
What will be the effective date for the assignment/termination?  I know we
want to sign this tomorrow, but how quickly can it be implemented.

 Please forward internally within your organization as necessary to
complete this transaction.

 Elizabeth and Jeff, please call me as soon as possible.

 Peter Meier (office: 301-280-6817; cell 301-502-1715)

 <<epmi cinergy ver 1.doc>>

PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility.  Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission.  Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.

 - epmi cinergy ver 1.doc


CALENDAR ENTRY:	APPOINTMENT

Description:
	Ava-35842/Market Services Council Mtg. conference room 42C2

Date:		4/5/2001
Time:		11:00 AM - 12:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Here's the CEC's own presentation from spring, 2000 noting shrinking reserve
margins. Delivered at Portland "Keep the Lights On" conference in March, 2000.


Assuming the test results are good, the move from the CES desks to the
appropriate ENA desks will take place either Wednesday or Thursday evening:

 CES - IM East   to ENA - IM East
 CES - IM Central  ENA - IM Central
 CES - IM Texas   ENA - IM Texas

This move will be done systematically for January forward business.  After
this move is complete, there should be no active deals remaining on the CES
desks.  The following is a list of deals that I wanted to bring to your
attention and review.  One of the base assumptions expressed by all was that
there were no transport usage tickets booked on the CES desk.  This is not
true; however transport usage tickets will be included in the change over;
therefore this will not be a problem.  On the East desk, three desk to desk
deals will not be able to be converted (see below).  Once all CES deals have
been changed to the East desk, I would imagine that these three desk to desk
deals need to be killed.

Please advise if there are any questions regarding the desk move.  If any
desk prefers to leave January as is and have deals moved February forward,
manual deal entry will be involved (ending the deals as of 01/31/99 on the
CES desk and creating a new deal on the appropriate physical desk).

SRM (x33548)

The data below is as of 01/24/00 7:00 PM


Per Sandi's request....

----- Forwarded by Kimberlee A Bennick/HOU/ECT on 04/09/2001 02:23 PM -----

	Sandi M Braband
	04/09/2001 11:05 AM

		 To: Kimberlee A Bennick/HOU/ECT@ECT
		 cc:
		 Subject: Re: TPA List for ENAUP

----- Forwarded by Sandi M Braband/HOU/ECT on 04/09/2001 11:05 AM -----

	Sandi M Braband
	04/09/2001 10:36 AM

		 To: Shahnaz Lakho/NA/Enron@ENRON
		 cc: Kimberlee A Bennick/HOU/ECT;Donna Greif/HOU/ECT@ECT, Katherine L
Kelly/HOU/ECT@ECT
		 Subject: Re: TPA List for ENAUP

Shane,
 I am having a meeting with Barbara Gray this afternoon to discuss ENA
Upstream in general and your recent TPA request as it relates to ENA Upstream
business--after that, I 'll give you a call about how we are going to proceed
with this--Kim Bennick will be assisting me on all TPA issues going forward
and will be working on getting the Upstream TPAS in place once we map out our
plan.

Sandi

	Shahnaz Lakho@ENRON
	04/04/2001 02:26 PM

		 To: Sandi M Braband/HOU/ECT@ECT
		 cc: Donna Greif/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT
		 Subject: TPA List for ENAUP

Sandi:

Attached is the list of the

 pipes we are doing EDI with and have either partial or fully executed TPAs
with
Please let us know which ones can be amended to include the new Enron entity
and which ones will require new TPAs.


Start Date: 1/20/02; HourAhead hour: 7;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012007.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


Please find attached the current copy of the EnronOnline Weekly Public Report
and Key Messages, including slides and statistics for public consumption.
The information contained in the attachments can be communicated to audiences
outside the company and should be used to ensure that we present a consistent
message to the public. Please ensure that this email is distributed to anyone
in your group who needs to discuss EnronOnline with individuals outside the
company.

This report is not intended to be used as a stand-alone presentation, nor
that all the information be used in a single presentation or customer
communication.


Enron has been increasing security at its facilities around the world.  Some of the changes took effect immediately (e.g. additional security personnel) and some are phasing in.  While not all of the changes will be visible, there are a few that will have an impact on everyday activities.  In all the steps we take and recommendations we make, we will be making our facilities and systems more secure and endeavoring to increase your sense of security, while doing our best to minimize disruption to our day-to-day business.

Primary responsibility for Enron Corp. Security resides in our business controls organization.  You can contact this organization through their website (<http://home.enron.com/security>), by phone (713-345-2804), or by email (CorporateSecurity@enron.com <mailto:CorporateSecurity@enron.com>).  John Brindle, Senior Director, Business Controls, leads this organization.  Please feel free to provide John and his team with your comments and questions, or to report security threats.

We have two areas to update you on:  changes in the access procedures for the Enron Center Campus in Houston and changes to our travel advisory.

Access to the Enron Center

Over the next few days, the following access control procedures will be instituted at the Enron Center (and other facilities where practical):

?	As employees swipe their badges at the card readers to enter the Enron Center, a guard will match the photo on the badge to the bearer.

?	Employees and contractors who forget their badges must present a valid picture ID to obtain access to the Enron Center (U.S. driver's license, U.S. or foreign passport, or some form of U.S. federal, state or local identification).

?	Visitors to the Enron Center must produce a valid photo ID when signing in at the lobby reception desk and must completely fill out the visitor card.  Adult visitors without a valid photo ID (U.S. driver's license, U.S. or foreign passport, or some form of U.S. federal, state or local identification) will not be allowed access to the Enron Center.

?	Visitors to Enron facilities must be escorted by an Enron employee or badged contractor at all times.

?	Visitors to the Enron Center will be met in the lobby by an Enron employee or badged contractor, signed into a visitor's log at the lobby reception area by the employee or badged contractor, and escorted to their appointment.  At the conclusion of the appointment, the visitor will be escorted to the lobby by an employee or badged contractor, the visitor badge collected, and the visitor signed out in the log at the plaza reception area by the escorting employee or badged contractor.

?	Employees are also being asked to participate in the security of their workplace by following these guidelines; report suspicious activity to Security (phone 3-6300), do not open secured doors for individuals unknown to you or hold doors open, allowing "tail gating" by others.

These will be the first in a series of new security procedures to be instituted at Enron.  We ask that all employees be patient during congested times in the lobby.  As we proceed and obtain increased guard personnel and equipment, we expect the inconvenience to decrease.  We hope you understand these measures are being instituted for the security of all our employees.

Travel Advisory Update

With the beginning of retaliatory strikes, we have two important recommendations:

?	While the retaliatory strikes are ongoing, corporate security recommends that travel through or to the Middle East be avoided.  We continue to strongly recommend that all travel during this time to Afghanistan, Yemen, Pakistan, Indonesia, Iran, Iraq, Sudan, Somalia, Tajikistan, Turkmenistan, Georgia, and the Kyrgyz Republic be canceled.  In addition, we recommend that planned travel to Egypt, Israel, Gaza/West Bank, Jordan, Lebanon, Saudi Arabia, Syria, and Algeria be very carefully considered.

?	For non-U.S. citizens traveling in the United States, corporate security recommends that you carry documentation.  There have been several recent reports of non-U.S. citizens who reside in the United States being questioned and asked for documentation when boarding U.S. domestic flights. As a result, we suggest that all non-U.S. citizens who currently reside in the United States - and who do not have Permanent Resident Alien status - carry their passport, Form I-94 and Form I-797 at all times.  We would also suggest that Permanent Resident Aliens carry their Permanent Resident (Green) Card as proof of their status as a precautionary measure.  It appears that Immigration Officials may be applying a section of the Immigration and Nationality Act that requires individuals over the age of 18 to carry his/her "registration" documentation with them at all times. This can include a Permanent Resident Card, Form I-94 card, Employment Authorization Card, Border Crossing Card, or a Temporary Resident Card. Immigration Officials have not historically been asking domestic travelers for "registration" documentation, but in light of the heightened security measures and current atmosphere, it would be best to be prepared with all of your documentation proving your current lawful status.

We will keep you apprised of new information and developments on the Corporate Security website and by e-mail, as appropriate.


GF - Talk to CY or SH about the West Reliant request.  Thanks

Elizabeth Sager
713-853-6349

 -----Original Message-----
From: 	Fitzgerald, Genia
Sent:	Wednesday, August 01, 2001 8:06 AM
To:	Portz, David; Piwetz, Stephanie
Cc:	Sager, Elizabeth
Subject:	RE: NRG and Reliant
Importance:	High

The two Reliant deals that were sent to Legal (the EOL and non EOL) have already been given to Leslie Hansen for review.

As for the Schedule C being added to the west trades, should Christian or Steve be the attorney to handle those?  Do we have an attorney in the group in Houston familiar with the WSPP?

Genia

 -----Original Message-----
From: 	Portz, David
Sent:	Tuesday, July 31, 2001 4:22 PM
To:	Piwetz, Stephanie
Cc:	Fitzgerald, Genia; Sager, Elizabeth
Subject:	FW: NRG and Reliant
Importance:	High

 -----Original Message-----
From: 	Piwetz, Stephanie
Sent:	Tuesday, July 31, 2001 2:00 PM
To:	Portz, David
Subject:	NRG and Reliant
Importance:	High

David,
I understand you are speaking with Shari Stack of Reliant regarding the wording of the option confirmation letters.  I had two other questions that you might help us with.  Sent to legal (deal 702644.01, 700154.01) EOL and non EOL deal, Enron states: Firm (LD) Energy  Reliant is striking through and placing firm (ld) Energy in lowercase.
[Portz, David]  I think Genia has already allocated these to another attorney(s) in the group, or if she hasn't already, will.   I think it matters which Reliant affiliate you are speaking of, because we only have the EEI in effect with one of them, and "Firm (LD)" is a defined product type under the EEI.

Also on our West trades, Product:  West Firm Energy
Reliant is adding service schedule C. [Portz, David]   I am requesting that Genia Fitzgerald designate an attorney who will help you with this.

I can refax the above confirmations for your review if needed.

NRG Power Marketing:  The past trades that have not been signed by the counterparty, are those considered executed now that we have an EEI agreement?
Does it cover the additional language in confirmations such as SP 15, NP 15, Nepool language? [Portz, David]    Past trades brought under the EEI Master were referenced on an Attachment A to the EEI Master dated effective June 29th 2001, prepared by Rhonda in coordination with NRG.  As such, the commercial terms of those confirms (corresponding with the numbers on the Attachment A spreadsheet) have clearly been affirmed in writing by the parties; price has not been specifically affirmed in writing however, and the remaining confirmation boilerplate is intended by the parties to be superseded by the EEI Master's terms.  It would thus seem advisable to reconfirm any currently outstanding trades on using the format(s) of EEI confirmation agreed betweent he parties.    The specific language re SP 15, NP 15, & Nepool would remain in effect as to the underlying trades  --  the EEI Master's text does not treat those matters anyway.

Thanks for your help!

Stephanie Piwetz
Enron Power Marketing, Inc
(713) 853-9210
(713) 646-2443 FAX


Cc list suppressed...
Public opinion is the pendulum that swings law...dsg

August 4, 2000

Deregulation Leaves Electricity Market Ripe for
Manipulation by Power Firms

By REBECCA SMITH and JOHN J. FIALKA
Staff Reporters of THE WALL STREET JOURNAL

It's a market ripe for manipulation: surging demand for
an indispensable commodity, weak oversight and a
chaotic new set of rules amid a transition from heavy
regulation to open competition. This is the state of
the U.S. electricity business in the summer of 2000.
And sure enough, there's growing evidence that some
power companies are finding lucrative ways to exploit
the system -- at consumers' expense.

The tactics include manipulating wholesale electricity
auctions, taking juice from transmission systems when
suppliers aren't supposed to and denying weaker
competitors access to transmission lines. None of this
is illegal, and much of it might be considered basic
competition. But as an electricity shortage plunges
sweltering California into an energy crisis and fears
of even worse shortages rattle the Northeast, the
practices of power suppliers face more scrutiny than
ever. (See related article.)

Steamy Conditions

A hot summer day last year shows one kind of
manipulation. On July 28, 1999, wholesale electricity
prices in the Middle Atlantic states hit $935 per
megawatt hour. That was seven times what it costs to
generate power at the most expensive plant in the
region. An analysis of trading data from that day shows
that PECO Energy Corp. and PPL Corp., the old
Philadelphia Electric Co. and Pennsylvania Power &
Light, made the most of steamy conditions.

In the region's power market, deregulated in 1997, a
new corporation called PJM Interconnection LLC runs the
transmission system once operated piecemeal by eight
utilities. It also operates a daily electricity auction
that sorts the hourly bids of 540 generating plants.
The cheapest plants are called on first, but when the
weather is hot and demand is acute, higher offers are
taken as well. To attract as many bidders as possible,
the highest bid, each hour, sets the price for the
entire market for that hour.

Grid and Bear It

Rise in average wholesale electricity prices at key
transmission-interconnection points for the month of
May from 1997 to 2000.
TRANSMISSION-INTERCONNECTION POINT
           % CHANGE 1997-2000
Texas                                        +293%
Louisiana-Mississippi-Arkansas              +216
Tennessee Valley Authority                  +165
California-Oregon border                    +162
New York-West                             +138
Chicago area                                  +130
New England                                 +117
New York-East                               +101
Upper Midwest                               +99
Florida                                       +89
Mid-Atlantic region                           +80*
   *Includes only years 1999-2000

Source: Federal Energy Regulatory Commission, RDI Power

What PECO and PPL did was offer much of their output at
low prices so that the majority of their plants would
be called into service. But knowing demand was so high,
they offered power from their tiniest plants at vastly
higher bids, in a way that often set the peak price for
a number of hours. Consumers that day ended up paying
millions of extra dollars for power.

Cases like this show that during the transition to
deregulation, "there's a good argument the system has
broken down," says William Massey, a commissioner at
the Federal Energy Regulatory Agency. FERC, which
polices the nation's bulk power markets, began the
deregulation movement in 1996.

It wasn't supposed to be this way. In the old days,
utilities generated electricity and delivered it to
customers in exclusive territories. To protect
consumers from gouging, rates were regulated. But while
supply had to be able to meet peak demand at all times,
demand varied widely within regions, between regions
and from one season to another. The result was
tremendous reliability but also inefficiency and waste.

Deregulation, now under way in half the country and
functioning nationally at the wholesale level, allows
new players -- some affiliated with utilities, some
not -- to build power plants and sell electricity.
Prices are supposed to be set by competitive markets.
Risks are borne by investors, not ratepayers.

At the same time, utilities are surrendering control of
long-haul transmission lines to new nonprofit
operators, like the one in the Middle Atlantic region,
which are supposed to ensure fair access to the grid --
the multistate system of high voltage lines.

Under this new regime, energy prices should have
dropped as companies raced to compete with one another.
But the massive U.S. energy infrastructure wasn't
designed to serve as the backbone of a free market. On
hot summer days, when there's little or no surplus
electricity in the nation's most populous regions,
generators can charge prices far in excess of their
production costs and be confident they'll get tapped
for service by grid operators who must keep the lights
on at any cost. Utility holding companies that still
control transmission lines have an added advantage:
They can effectively lock out cheaper competitors.
California Cuts Price Cap for Electricity Once Again
(Aug. 2)Price Cap Is Set for Electricity That Is Sold
in New England (July 27)PPL, KeySpan Say Earnings
Surpassed Wall Street Targets (July 27)Energy Trading,
Internet Operations Help Enron's Net Income Jump 30%
(July 25)PG&E Posts 36% Rise in Net to $248 Million
(July 21)
The new regional grid operators, called independent
system operators, or ISOs, eventually will be in charge
of preventing manipulation. But as nongovernmental
organizations, they won't have basic investigative
tools, like subpoena powers or the ability to impose
significant penalties. FERC, which does have those
powers, rarely uses them, preferring to let the market
discipline itself.

A Strange Drop

Sometimes it's difficult to know what constitutes an
abuse of the market. In July 1999, engineers noticed
that a substantial amount of power was being taken from
the grid for which there was no explanation. They
contacted the North American Electric Reliability
Council, the industry group charged by Congress with
overseeing the grid since the late 1960s. After a
lengthy investigation, NERC determined that Cinergy
Corp., a utility holding company, had surreptitiously
taken enough power over a three-day period, about 9,600
megawatt hours, to light a small city for a month.

Cincinnati-based Cinergy had underestimated power
demands. Rather than buy electricity on the open market
at ferociously high prices or cut power to Cincinnati,
it quietly borrowed power from the system when demand
was peaking and later replaced it in the cool of the
night when demand wasn't so high.

James E. Rogers, Cinergy's chief executive, received a
letter from A.R. Garfield, the chairman of NERC's
regional power-coordination center, accusing his
company of showing "blatant disregard" for the rules
and of using the grid "as a supplemental resource
without regard to the reliability or integrity of the
system."

But Cinergy paid no fine. That's because it runs its
own transmission "control area" and is trusted to
enforce NERC's voluntary rules, even when it is the
violator. Smaller utilities in Cinergy's area, by
contrast, face contractual penalties of as much as
$35,000 per megawatt for unilaterally borrowing from
the grid, a practice known as "leaning on the ties."

Dancing on the Edge?

Mr. Garfield is still steamed about Cinergy's actions,
which he said removed part of the system's essential
reserve needed to avoid cascading blackouts, or a chain
of uncontrollable outages that could darken whole
sectors of the country. "How fair is it that someone
can dance on the edge like that and get away with it?"
he asks.

Mr. Rogers points to old rules that permit utilities to
temporarily borrow small amounts of power during
emergencies. "We were very careful to make sure, when
we leaned on the ties ... we didn't bring the whole
system down," he says. Nevertheless, he concedes, "in a
competitive world, those rules need to be changed." The
region's regulators have since gone to FERC for
authority to charge "borrowers" for the market value of
the electricity they take off the grid.

Leaning on the ties is only one way fair competition is
being frustrated on the country's transmission system,
a vast web of connections that resembles the nation's
highway system before the construction of the
interstates. While there are plenty of routes to get
electricity from outlying power plants directly to big
cities, there are relatively few routes connecting
regions. That makes it possible for some big companies
to shut out competitors.

A Snag in Transmission

St. Louis-based Aquila Energy hit that snag when it
tried to use a transmission corridor owned by New
Orleans-based Entergy Corp. to move electricity to a
buyer in East Texas. Entergy granted the request,
initially, but then it canceled, saying it didn't have
sufficient space on its lines.

Aquila didn't buy it. After analyzing
transmission-capacity data, the company argued to FERC
that Entergy did have enough space on its lines and so
was in effect breaking a rule that required it to
provide transmission-line access when possible. Without
access to Entergy's lines, Aquila was forced to
compensate the buyer and lost nearly $300,000 on the
deal. From whom did the Texas customer end up buying
the power? A unit of Entergy -- and for a higher price
than it would have paid Aquila.

FERC said Entergy had been within its rights to
restrict access in this case, because it had
transmission problems. But FERC found that Entergy, on
other occasions, had hoarded transmission capacity that
should have been made available to the market. Entergy
declines to comment.

Such scenarios are costly for consumers, and they are
among the reasons the electricity industry is enjoying
flush times. In the second quarter just ended,
companies ranging from AES Corp. in Arlington, Va., to
Enron Corp. in Houston reported huge profit increases,
some as much as 50%. To be sure, a lot of those profits
are coming from extraordinary demand growth and a
pickup in energy trading. But Sean Murphy, president of
Southern Energy New England, a unit of Southern Cos.,
Atlanta, Ga., worries that the industry has gotten too
greedy and risks retribution. "Pigs get fat, but hogs
get slaughtered," he says.

Tremendous Volatility

New federal data show that average wholesale power
prices have more than doubled at 14 of 17 key pricing
points across the country in the past three years. By
May of this year, prices had risen across a broad
range -- by 89% in Florida, for example, and by 294% in
Texas. But even these increases mask the tremendous
volatility that has struck all the major wholesale
markets during the past year. In the case of the
Midwest, where prices in July 1999 hit $9,000 per
megawatt hour, it was as if a $1.89 gallon of gas
suddenly sold for $567.

Prices like these have prompted growing calls for
investigations into whether electric companies are
gouging their customers. Some consumer groups, lukewarm
to deregulation in the first place, now are agitating
for re-regulation. Residential electricity bills have
doubled in San Diego, which is notable because it's the
first city in the nation to be served by a utility
that's buying all of its energy on the competitive
market.

Politicians are sounding the alarm in the Pacific
Northwest. There, wholesale prices peaked at a record
$1,300 per megawatt hour during the last week in June.
Energy-intensive industries like mines and aluminum
smelters are cutting back on production and temporarily
laying off workers. "We may be seeing too much
opportunism in the market," says Montana Gov. Marc
Racicot. Demands by Mr. Racicot and his counterpart in
Washington, Gary Locke, were instrumental in prompting
FERC to open a national investigation in late July into
possible market abuses.

A Six-Month Lag

One big premise on which deregulation rests is that a
free flow of information will let markets police
themselves and operate efficiently. But a key tool for
market monitoring, the data on utility Web sites used
to book transmission orders, is often unreliable.
There's a six-month lag on the release of bidding data,
which are coded to mask the identities of bidders.

What's more, the four FERC-controlled ISOs operating in
California, the Middle Atlantic states, New England and
New York don't have the authority to compel market
participants to give them internal documents, like
bilateral contracts, and other information they don't
want to hand over. Without such documents, "there's a
lot more looking than finding," says Bill Museler,
chief executive of the New York ISO.

Even if the ISOs do find something problematic, there
isn't much they can do about it. The tariffs, contracts
and bylaws under which they operate generally prohibit
them from releasing company-specific data and so
exposing wrongdoers. And with the exception of
California, the ISOs' own board meetings are closed to
the public. "The reality is, confidentiality rules
protect the guilty," says Frank Wolak, a professor of
economics at Stanford University and chairman of the
California ISO's Market Surveillance Committee. "And
there are no codes of conduct to instill a sense of
fair play."

That can be a huge problem on hot days. In California,
an independent exchange runs a daily forward auction in
which it tries to match the next day's anticipated
demand to bids by generators. But this summer,
generators often have offered less power than they know
will be needed, so that they can submit higher bids
later when the ISO is forced to pay stiffer prices for
emergency power. On occasion, ISO engineers have had
just 40 minutes to frantically phone around and nail
down suppliers, knowing that if they fail they could be
forced to begin rolling blackouts. The bidding
strategy, while legal, "undermines reliability and
forces the ISO to do some real gymnastics," says Kellan
Fluckiger, chief operations officer for the California
ISO.

Generators say they aren't to blame for the mad
scramble. Utilities, buying power for their customers,
often order less power than they really need for fear
that a big order will drive up the overall market price
to prohibitive levels.

The only real recourse available to the ISOs is to
rewrite the rules governing their local markets. But
FERC is reluctant to let them meddle too often because
generators are investing billions of dollars based on
existing market rules. There's another reason, too,
says Ron Rattey, a veteran FERC economist who in June
wrote a 10-page internal memo criticizing the agency
for not doing more to ferret out unfair conduct. "Every
single ISO has identified strategic abuses," he says.
"And every time the ISOs make adjustments to the rules,
the market participants find new ways around them."

Write to Rebecca Smith at rebecca.smith@wsj.com and
John J. Fialka at john.fialka@wsj.com


No we can do it up here.  Thanks again for all your help!

 -----Original Message-----
From: 	Frank, Carole
Sent:	Wednesday, October 24, 2001 2:25 PM
To:	Lucci, Paul T.
Subject:	RE:

Quick question...in regards to this EJW Family deal that I just received across the fax....there is a note that says "Please enter 92 mmbtu/day @ GDP-CIG/RKYMTN.  Do I need to enter this as an additional deal?   Let me know.  I need to book this deal before 4 p.m.  Thank you!

Carole

 -----Original Message-----
From: 	Lucci, Paul T.
Sent:	Wednesday, October 24, 2001 3:22 PM
To:	Frank, Carole
Subject:	RE:

Sure get back to me when you can.

 -----Original Message-----
From: 	Frank, Carole
Sent:	Wednesday, October 24, 2001 2:10 PM
To:	Lucci, Paul T.
Subject:	RE:

Paul,

I will definitely do some more investigative work on this.  I need to load our curves right now.  Can I get back to you about this tomorrow?  I am pretty swamped today.  Thanks.

Carole

 -----Original Message-----
From: 	Lucci, Paul T.
Sent:	Wednesday, October 24, 2001 2:53 PM
To:	Frank, Carole
Subject:

Please look these over to see if these are all the fixed price financial deals Sinclair has with us.

Thanks
Paul

 << File: Sinclair Recon.xls >>


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>  -----Original Message-----
> From: 	ross, stephen
> Sent:	Friday, October 12, 2001 8:40 AM
> To:	Ross, Nancy; polski, mary beth; weegar, johanna; sanders, connie;
> gosch, candace; norvell, julia; kirby, kerri; martin, yvonne connie;
> Townsend, George; pormprasong, louis; rogers, vernon
> Subject:	a great cartoon
>
> Go to this link below and click "play" after the cartoon loads up. There
> is one curse word, so use discretion. You'll love it.
>
> Stephen Ross
>
> http://www.boortz.com./diplomacy.swf


As promised, although a little later than expected, a draft agenda is
attached at the end of my memo to Mike.  The memo will walk you through the
agenda.  Please let me know if you have any comments or suggestions.  Again,
I an sorry that you will not be able to join us, but I am pleased that so
many others from the London office will be in attendance.  --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 10/18/2000 09:12 PM
---------------------------

	Enron North America Corp.

	From:  Sally Beck                           10/18/2000 09:11 PM

To: Mike Jordan/LON/ECT@ECT
cc:
Subject: Draft Agenda

Attached is a draft agenda for your review and comments.  As speakers were
confirmed, the placement of certain items on the agenda were dictated by the
speakers' schedules and then logical grouping of topics around those
speakers.  Sunday evening will not be heavy - simple welcome and intros,
drink and dinner - I know that many will be tired from traveling.  We have
arranged for a private showing of the movie Rogue Trader (complete with comfy
chairs and popcorn) which I thought could be fun for the group to see as a
means of setting the stage for our discussions on Monday and Tuesday.  This
can be optional, as I know that jet lag my get the best of some.

The morning on Monday will set the stage:  why we have gathered, endorsement
of our efforts (Causey).  Perhaps you, Brent and I could each give a short
"state of the union of operations" according to us - covering ENA, EGM and
EEL).  Then definition of the operating standards that we must uphold,
discussion, plans on reporting and buy in on these.

Monday lunch will allow everyone to share with their tablemates a project in
which they are involved that will have an impact on global consistency of
operational controls, or a project which through sharing or expanding could
have such an impact.  Each table can report back as we gather to start the
afternoon.

Having defined and discussed fundamental operating standards, we will move
Monday afternoon to review of the Doorstep concept: what, why, how and
lessons learned.  Then we will discuss next steps around this on-going
project.

Just before the afternoon break, we will roll out a new communications tool
for the operations controllers:  a website tailored for the group.

We will finish the afternoon by tying in operations performance and its
impact on assessing and measuring market risk and credit risk, with Ted
Murphy and Bill Bradford addressing the group.

Monday evening will include a tour of Enron Field and dinner at Ruggles
Center Field Terrace.  Bill Bradford will join us for dinner, and we are
waiting for an RSVP from Ted Murphy.

Tuesday morning will start with Jeff Skilling as our real keynote speaker.
He plans to spend an hour plus with the group.  He will make an informal
presentation and then will entertain questions.  The rest of the morning will
be spent in breakout teams, with assignments to come up with specific action
steps to strengthen operating controls, improve the accuracy of information
provided and move toward best practices in providing mid and back office
services within Enron.

Before lunch, Tom Gros and I will share a short story on CommodityLogic.
Philippe Bibi will join us for lunch to share his IT vision with the group.
After lunch, we will wrap up and summarize next steps, including a date to
reconvene much of this group perhaps early in 2001 to check progess against
our designated next steps (wholesale group in London perhaps).

Please call me or e:mail any comments or suggestions.  The only details still
in flux are Tom Gros' availability and confirmation of Philippe's
attendance.


---------------------- Forwarded by Mary Hain/HOU/ECT on 03/12/2001 09:00 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Nancy Pickover" <npickover@bracepatt.com>
03/12/2001 06:26 AM

To: <gfergus@brobeck.com>, <marcie.milner@enron.com>, <mary.hain@enron.com>,
<richard.b.sanders@enron.com>, <thane.twiggs@enron.com>
cc:
Subject: Fwd: California - March 9 Order Addressing Refunds for Jan. 2001
Sales

Date: Fri, 09 Mar 2001 17:56:16 -0600
From: "Andrea Settanni" <asettanni@bracepatt.com>
Cc: "Nancy Pickover" <npickover@bracepatt.com>, "Ronald Carroll"
<rcarroll@bracepatt.com>
Subject: Fwd: California - March 9 Order Addressing Refunds for Jan. 2001
Sales
Mime-Version: 1.0
Content-Type: message/rfc822

Date: Fri, 09 Mar 2001 17:53:04 -0600
From: "Tracey Bradley" <tbradley@bracepatt.com>
Cc: "Andrea Settanni" <asettanni@bracepatt.com>, "Jeffrey Watkiss"
<dwatkiss@bracepatt.com>, "Nancy Pickover" <npickover@bracepatt.com>
Subject: California - March 9 Order Addressing Refunds for Jan. 2001 Sales
Mime-Version: 1.0
Content-Type: multipart/mixed; boundary="=_FBA060D9.87E68C77"

Attached is FERC"s Order Directing Sellers to Provide Refunds of Excess
Amounts Charged for Certain Electric Energy Sales During January 2001 or,
Alternately, to Provide Further Cost or Other Justification for such Charges.

 - EL00-95-017.pdf


Edmund,

You are the only person I have now not heard from.  When can I expect to get
your response?
---------------------- Forwarded by Tana Jones/HOU/ECT on 04/19/2000 09:37 AM
---------------------------

	Enron North America Corp.

	From:  Tana Jones                           04/11/2000 04:54 PM

To: Edmund Cooper/LON/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthias Lee/SIN/ECT@ECT
cc:
Subject: Need Information for Audit

I have not received any feedback from Edmund or David regarding the email
below.  Can you please respond as I am getting daily prompts for a response.
MUCH THANKS!

For Matt, your email stated that you trade over the IPE & NYMEX.  What rules,
besides the rules of those two exchanges, might apply to any on or off
exchange trades you might enter into.  For instance, here in the U.S. energy
commodity trades might be governed by the CFTC, where out equity options
might be governed by the SEC.  Besides the exchanges your email reflected,
what other governmental rules or regulations would govern trades you might
enter into?
---------------------- Forwarded by Tana Jones/HOU/ECT on 04/11/2000 04:44 PM
---------------------------

	Enron North America Corp.

	From:  Tana Jones                           03/23/2000 11:12 AM

To: Edmund Cooper/LON/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Matthias Lee/SIN/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT
Subject: Need Information for Audit

In connection with an internal audit regarding the safekeeping of margin
funds and securities, Enron Corp. has asked us to provide them with a list of
all the exchanges we trade on, what rules govern those exchanges and the
products we trade on them (in particular the clearing arrangements), and any
rules that govern brokers we may maintain funds or cash with.  This should
include all the products we may trade/hedge over an exchange including energy
commodities, interest rates, currencies, equities, etc.

Can you please provide this information no later than Friday of next week.
Much thanks!


Good morning, Steve -

Per Marla Barnard, I'm forwarding the attached spreadsheet.  Please let me
know
if you have any questions.

Best regards,

Kim

(See attached file: EBS Marketing Employees.xls)
_____________

Kim Hanson
Senior Staffing Specialist
Enron Broadband Services
http://www.enron.net
(503) 886-0422

 - EBS Marketing Employees.xls


---------------------- Forwarded by Greg Whalley/HOU/ECT on 01/08/2001 12:34
PM ---------------------------

"Andurand , Pierre" <Pierre.Andurand@gs.com> on 01/08/2001 02:30:23 AM
To: "'Greg.Whalley@Enron.com'" <Greg.Whalley@Enron.com>
cc:
Subject: US WTI swaps

Greg,
What is the difference between NX1 and NX2 ?
Thanks and best regards,

Pierre

Pierre Andurand

Energy Derivatives Trading
Goldman Sachs - Singapore


Here is a list by risk type that we plan on loading with UBS.  There were some name changes to a few of the west desk curves.
Lt me know if you have any questions.

Kam

 -----Original Message-----
From: 	Hayden, Frank
Sent:	Monday, February 04, 2002 9:47 AM
To:	Keiser, Kam
Cc:	Gossett, Jeffrey C.
Subject:

Can I get a copy of the curves we plan on trading in NETCO.  Please make it as comprehensive as possible as we need to make sure all are mapped.


It was not mentioned to me.  I'm copying rosie and vanessa to find out if
this was a simple referral (in which case you should keep the work to a
minimum -- return the call, but don't get distracted from your other efforts)
or whether Ken is especially interested in this and wants us to follow
through.

	Jeff Dasovich
	Sent by: Jeff Dasovich
	03/12/2001 03:54 PM

		 To: skean@enron.com
		 cc:
		 Subject: Fellow referred to me by Ken Lay

Just got a call from a fellow named Jame Edgerly at the Enterprise Zone,
Inc.  He told me that Ken Lay (through Ken's secretary Vanessa) referred me
to him.  He is very interested in getting us to help him work with the
Legislature to establish an "Enterprise Zone" energy tariff to encourage
investment in California's Enterprice Zones.  Before I launch on the effort,
just wanted to check in and see if this rings a bell with you.  Thanks.

Best,
Jeff


All-

The total nomination for month of April 2001 is 10,506MMBtu per day.  This
includes:

1. 4,135MMBtu/day purchase from Engage @ Kingsgate (4,006MMBtu/day @ Malin);
2. 3,000MMBtu/day APEA gas;
3. 1,000MMBtu/day balance of year strip purchased on behalf of Azusa @
$7.71/MMBtu;
4. 2,000MMBtu/day under two separate fixed contracts of 1,000MMBtu/day each;
4. 500MMBtu/day March 2001 through Feb strip purchased @ $7.63;

Losses on the PG & E line have decreased from March 2001 to 3.12%.  We have
not sold any of the APEA gas (3,000MMBtu/day)at this time.

To review the phone conversation between Jan and me, we are planning to shut
down our last steam plant for maintenance from midnight March 30, 2001
through 1800 or so April 11, 2001.  Kim and I have arranged for Enron to
purchase the non-APEA gas during that period.  At this time, we believe that
the power plant will burn enough gas during the last 20 days of the month to
use the APEA gas.  If anything changes, I will notify you.

If you have any questions, please contact me.

Thanks.

-Steve


FRESH STUFF FROM THE FOOL FOR: benjamin.rogers@enron.com
http://www.fool.com/m.asp?i=215372

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Our writers pick the companies and industries to watch in 2001
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The Motley Fool

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(c) Copyright 2000, The Motley Fool. All rights reserved. This
material is for personal use only. Republication and
redissemination, including posting to news groups, is expressly
prohibited without the prior written consent of The Motley Fool.

MsgId:
msg-30818-2000-11-28_13-06-57-472178_9_Plain_MessageAddress.msg-13:11:16(11-28
-2000)
X-Version: mailer-sender-master,v 1.84
X-Version: mailer-sender-daemon,v 1.84
Message-Recipient: benjamin.rogers@enron.com


please take care of this.
---------------------- Forwarded by Scott Neal/HOU/ECT on 01/03/2001 03:37 PM
---------------------------

Louise Finlay <lfinlay@plnrs.com> on 01/03/2001 01:48:09 PM
To: "'jeff.ader@enron.com'" <jeff.ader@enron.com>, "'mark.davis@enron.com'"
<mark.davis@enron.com>, "'stephen.douglas@enron.com'"
<stephen.douglas@enron.com>, "'scott.neal@enron.com'" <scott.neal@enron.com>,
"'brian.redmond@enron.com'" <brian.redmond@enron.com>,
"'eric.thode@enron.com'" <eric.thode@enron.com>, "'scott.tholan@enron.com'"
<scott.tholan@enron.com>, "'john.thompson@enron.com'"
<john.thompson@enron.com>, "'john.zufferli@enron.com'"
<john.zufferli@enron.com>
cc: "'dorie.hitchcock@enron.com'" <dorie.hitchcock@enron.com>
Subject: ENA Offiste Meeting

 Due to the postponement of the ENA Offsite Meeting in Las Vegas (Dec
13-15), your airline reservation was cancelled.  Enron has chosen to ask us
to apply the value of your nonrefundable ticket for this meeting towards the
cost of a new non-refundable ticket for a future business trip, saving Enron
several thousand dollars in unused tickets. A $75.00 airline re-booking  fee
will be charged in addition to the cost of the flight selected. This ticket
must be booked and used within the next 12 months.
 Please contact Joel Juarez at Planners Services Group (only) at
281-586-8181 with your upcoming travel needs, and all details   for a
replacement ticket will be coordinated.

 Regards,

  Louise Finlay, Travel Manager
Planners Services Group Inc.
14511 Falling Creek, Suite 307,
Houston, Tx    77014
Phone:    281-880-1926
Fax:        281-586-9980
Cell -  832-423-0613
lfinlay@plnrs.com


Coordinating committee,
Here are my notes from the meeting.  The address list above is the current
group
so we can continue by e-mail by replying to this group until people are ready
for another call.  I don't think the Dean needs to hear all of the back and
forth.  Lee Friedman has kindly agreed to advise and participate.

Open questions:
-do we want to join with the business school for this event?
-should we push the date back?
-what is your top 5 list of speakers?
-any comments on what we agreed on or revisions to the minutes?

This is really moving!  Thanks everyone.
Rob <<Electricity policy summit minutes 082200.doc>>

Rob Gramlich
PJM Market Monitoring Unit
(610) 666-4291
gramlr@pjm.com

 - Electricity policy summit minutes 082200.doc


Cheney's Role Offers Strengths And Liabilities
By Mike Allen and Dana Milbank
Washington Post Staff Writers
Thursday, May 17, 2001; Page A01
The key to the energy proposal President Bush unveils today can be found on a
wall in the three-room suite that houses his National Energy Policy
Development Group, next door to the White House in the Eisenhower Executive
Office Building.
On the wall hangs a huge erasable board that serves as a giant checklist to
guide the preparation of the administration's eight-chapter energy policy,
which Bush formally unveils in Minnesota today. For each chapter, there's a
check mark for two rough drafts, a peer review, a final draft, two more
rounds of recommendations on the drafts, then graphics and photos. Toward the
end of the checklist is an all-important box to check: "Concurrence of the
OVP."
The OVP -- Office of the Vice President -- has driven every aspect of the
energy report. No proposed recommendation has survived without the consent of
one man: Vice President Cheney, the administration's indispensable man -- and
chair of the energy task force.
The release of the energy report shines a new spotlight on Cheney, a quiet
conservative from Wyoming who has been given credit for running the show
without annoying or upstaging his boss. The handling of the energy task force
so far reflects Cheney's personality near perfectly: It is a closely held
process with a high regard for the concerns of industry. This close
involvement of Cheney is partially a strength, because the effort has been
efficient and well-managed.
But Cheney's strong role is also potentially the report's weakness. He is
about to undergo a blast of unwanted scrutiny as critics seize on his
finances and oil industry ties in an effort to discredit the policy.
Democrats and environmental groups are charging that his judgment on energy
matters is suspect because of his chairmanship until August of Halliburton
Co., a Dallas-based energy services firm that is expected to benefit from
several parts of President Bush's policy. Cheney, 60, made $36 million last
year, most it in compensation from Halliburton, including salary and his
exercise of stock options and sale of restricted stock.
"He is seeing the problem entirely from the side of the energy producing
industry that made him a millionaire, not from a consumer struggling to make
ends meet," said Philip E. Clapp, president of the National Environmental
Trust.
An official close to Cheney called such suggestions "an outrage," and said
his expertise in the industry and knowledge of its technology were crucial to
"trying to solve a problem of this magnitude."
Although the plan has extensive recommendations about using technology to
conserve energy and produce power more cleanly, the heart of the report is
its conclusion that the United States needs hundreds more power plants,
natural gas pipelines, oil wells and nuclear reactors.
Several administration officials acknowledged that Cheney had handed
ammunition to his critics by declaring in a speech in Toronto on April 30
that conservation "may be a sign of personal virtue," but is not a sound
basis for a comprehensive energy policy.
"Given his background, he should've been real careful," said Sen. Charles E.
Schumer (D-N.Y.), who has offered an alternative energy plan that he says
focuses equally on supply and demand. "I think they've had some real
stumbles."
Sen. Craig Thomas (R), who succeeded Cheney as Wyoming's lone House member in
1989, said he does not expect such criticism to rattle the circumspect
Cheney. "He'll just say, 'All right. That's the way it is, folks. I'm doing
my job. Here's my plan,' " Thomas said.
As always when questions are asked about Cheney's influence, White House
officials argue vigorously that the energy plan is Bush's plan. An official
close to Bush said Cheney and other task force members had updated the
president often since beginning their work on Jan. 29. "At several critical
decision points, the group has come to the president to ask him to make
judgments and decisions," the official said.
Cheney's directions are carried out by the task force's executive director,
Andrew Lundquist, his deputy, Karen Knudsen, and four other staff members.
Cheney also chairs the task force itself, which includes the secretaries of
energy, interior, treasury, agriculture, commerce and transportation and the
head of the Environmental Protection Agency.
Aides say Cheney met with only half a dozen of the interest groups seeking
input into the policy, including Enron Corp., the Houston energy conglomerate
that is a large and longtime Bush contributor, and the Edison Electric
Institute, an energy trade group. Vance Meyer, a spokesman for Enron, said
the firm's chairman, Kenneth Lay, and another executive had a 30-minute
meeting with Cheney. Edison assembled 15 or 20 chief executives to meet with
Cheney.
But Lundquist and Knudsen, representing Cheney, met with half of the 400 or
so groups -- industry, environmental, regulatory and academic -- that
requested access. Exactly which groups the Cheney advisers met with is being
kept secret by the White House.
The task force's stealthy operation reflects Cheney's distaste for publicity.
Following news reports about the private nature of the energy deliberations,
Democrats on the House Energy and Commerce Committee and Government Reform
Committee requested information about the groups the task force met with.
Cheney's counsel, David S. Addington, rebuffed the members of Congress,
arguing that there was no legal requirement to comply with the request.
In a seven-page response to the request, Lundquist wrote that the meetings
"were simply forums to collect individual views rather than to bring a
collective judgment to bear." White House officials have declined to disclose
the list of meetings or attendees. Aides said representatives at the meetings
included 118 energy industry or corporate groups, 40 renewable energy
providers, 22 unions, 13 environmental groups, five academics, 63
governmental groups, six energy efficiency proponents and a consumer group.
Environmentalists complain that the meetings reflected Cheney's
predispositions. The vice president met with industry leaders, while
dispatching aides to speak to environmentalists, several of which were
grouped into one meeting. The meetings of 22 labor representatives, who
gathered in groups, were publicized by the White House, but sessions with
industry were not.
Cheney, who declined to be interviewed for this article, told the Associated
Press that he hasn't consulted with any officials from Halliburton and
rejected the notion that the task force's work is compromised by his private
meetings with industry officials who give money to the Republican Party.
"Just because somebody makes a campaign contribution doesn't mean that they
should be denied the opportunity to express their views to government
officials," he said.
Cheney chaired nine meetings of the Cabinet-level task force, mostly in his
ceremonial office. Each of the meetings, attended by the task force members
and aides, lasted 90 minutes, with Environmental Protection Agency
Administrator Christine Todd Whitman, Energy Secretary Spencer Abraham and
Bush economic adviser Lawrence B. Lindsey often reflecting different
interests.
For 20 minutes at the end of each session, Cheney told staffers to leave the
room so the top officials could settle differences privately, without risk of
the differences being leaked to the news media. In only a few cases did Bush
have to resolve disputes among advisers, participants said. In most cases,
Cheney was able discreetly to broker agreement among the Cabinet members.
, 2001 The Washington Post Company


Your Real Audio will just show nothing for now.  Our lobbyist will call me
when it starts up and I'll let you know right away.

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


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/23/2001
01:19 PM ---------------------------

"Wydawnictwa Naukowo-Techniczne" <marketing@wnt.com.pl> on 01/22/2001
05:07:53 AM
To: <Vince.J.Kaminski@enron.com>
cc:
Subject: forma platnosci z "Inzynierie finansowa"

Uprzejmie informuje, ze przyjmujemy czeki, ale  niechetnie. Wysokie koszty
przy realizacji czekow.
Gdyby rodziana Sz.Pana wplacila naleznosc w  zlotowkach, to odpadna koszta
bankowe - 5$. Naleznosc w zl wynosi 81 zl lub 99  zl (LOT).
W liscie pomylilam sie? - zamiast 25,25$  napisalam 15,25 $. Przepraszam.
Wplacenie pieniedzy w Polsce znacznie  przyspieszy wysylke.
Ewentualny czek prosze przyslac na sume 25,25$  lub 29,75 $
Pozdrawiam serdecznie
Grazyna Piesniewska


The report named: East Position Totals <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=2&report_name=East+Position+Totals&category_cd=1&category_name=EAST&toc_hide=1&sTV1=1&TV1Exp=Y&current_efct_date=11/21/2001>, published as of 11/21/2001 is now available for viewing on the website.


Rick,

I shall ask my assistant  to schedule a meeting early next week.

Vince

Richard B Jones@EES
02/01/2001 10:23 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Here's a 4th try!!!

---------------------- Forwarded by Richard B Jones/HOU/EES on 02/01/2001
10:22 AM ---------------------------

Richard B Jones
01/31/2001 04:39 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Here's a third try!!!

Vince,
 While I was at HSB, I designed an insurance or reinsurance financial model
that HSB uses for new product development, pricing different reinsurance
strategies, computing stochastic earnings forecast, and estimating
probabilistic maintenance & repair costs. The code, written in Visual Basic &
MS Access belongs to HSB, and I want to replicate it here for our use at
Enron. I would like to arrange a time to specifically talk to you and perhaps
Vasant who was briefed on the model, about how we can use your group for the
analytical and programming support to get this model re-constructed.
 I have screen outputs from the code and Vasant thought the re-design and
construction here at Enron is a problem that your group can do. Could you let
me know when we can setup an hour to discuss?
Thanks,
Rick Jones


Attached is a resume from Les Adams, who is a friend of Bob Williams.  He saw
the ad in the Texas Lawyer and contacted Bob about how to apply.  His resume
does not indicate law school grades, but when I asked, he said he doesn't
remember specifically since it has been 20 years, but that he seems to recall
a B average, which was around top 20%.

Let me know if you want to talk with this applicant.

Michelle

------------------------------------------------------------------------------
---------------------------

Michelle Cash
Enron North America Corp.
1400 Smith Street, EB 3823
Houston, Texas  77002
(713) 853-6401
michelle.cash@enron.com

This message may contain confidential information that is protected by the
attorney-client and/or work product privileges.
----- Forwarded by Michelle Cash/HOU/ECT on 04/25/2001 05:06 PM -----

	LeslieWmAdams@aol.com
	04/25/2001 03:49 PM

		 To: Michelle.Cash@enron.com
		 cc:
		 Subject: RESUME

Dear Michelle:

As we discussed, Bob Williams indicated that you would be willing to review
my resume for the wholesale marketing position you are trying to fill. ?In
my
experience with The Coastal Corporation prior to the merger, I handled a
very
diverse range of marketing issues, from antitrust to collections, and have
drafted marketing contracts for everything from coal to catalyst (and of
course, oil and gas).

I have attached a resume and cover letter. ?Please don't hesitate to call if
I can provide you with any more information.

Regards,

Les Adams
 - RESUMELWAnoref.ZIP


Bob,

Congratulations. Well deserved.

Vince


I sent the materials(along with a recommendation) to Bob Williams, Enron
International's Litigation Manager. If you want to follow up w/him, his no.
is 713--646--6412.


I traditionally send them on Tues morning.  I will send it tomorrow.

 -----Original Message-----
From: 	Young, Becky
Sent:	Monday, September 10, 2001 9:35 AM
To:	Zufferli, John
Subject:	Hedge Report

Please send John's report today.

Becky Young
x30622


Done

	From:  Dutch Quigley @ ECT                           02/27/2001 09:36 AM

To: Joey Taylor/NA/Enron@ENRON, Errol McLaughlin/Corp/Enron@ENRON
cc:

Subject: Kill EOL Deal

Please Kill Deal QU0208.1 with Idacorp done at 9:02:40 am


Muriel:
I am on maternity leave.  Please start sending docs for these transactions
to  Sara Shackleton.  Thanks.,

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	"MURIEL McFARLING" <MCFAM@andrews-kurth.com>
	08/30/00 09:03 PM

		 To: <alan.quaintance@enron.com>, <Brenda.L.Funk@enron.com>,
<carol.st.clair@enron.com>, <charles.delacey@enron.com>,
<Clement.abrams@enron.com>, <David.roland@enron.com>,
<gina.karathanos@enron.com>, <Joel.ephross@enron.com>,
<tina.livingston@enron.com>, <trevor.randolph@enron.com>,
<trushar.patel@enron.com>, <mniebruegge@mayerbrown.com>,
<tellwood@mayerbrown.com>, <eawilburn@prickett.com>, <Tamullen@prickett.com>,
<kenton@rlf.com>, <mark.wolf@us.cibc.com>, <mercedes.arango@us.cibc.com>,
<schottla@us.cibc.com>, <aroberts@wilmingtontrust.com>
		 cc:
		 Subject: Enron/Tahiti

In connection with the Tahiti Transaction, attached  in WordPerfect format
are each of the following documents marked against the previous version
circulated last night.  The remaining documents have not been revised.

Trust Agreement of Tahiti (254424)
Beneficial Interest Certificate (254806)
Series Supplement Creating Series Z (254816)
Tahiti Series Z Certificate issued to Fiji Z (254975)
Promissory Note from Tahiti (254802)
Amended and Restated LLC Agreement of Fiji Z, L.L.C. (254423)
Promissory Note from Fiji to Tahiti (254977)
Promissory Note from Bora Bora to Fiji (254979)
Sale and Auction Agreement (255084)
Assignment of Bali Promissory Note to Fiji (255717)
Trust Agreement of Bali (255146)
Reimbursement and Disclosure Agreement (255563)
Promissory Note from Bali to Bora Bora (254981)
Certificate Distribution Agreement (255568)
Subscription Documents (255729); and
Direction Letter to Owner Trustee of Bali (254980)

If you have any questions or comments, please call Muriel McFarling or David
Barbour at (713) 220-4242 as soon as possible.  Thank you.

Muriel C. McFarling
Andrews & Kurth L.L.P.
1717 Main Street, Suite 3700
Dallas, Texas 75201
(214) 659-4461
(214) 659-4784 (fax)

 - 254979.wpd
 - 254424.wpd
 - 254802.wpd
 - 254806.wpd
 - 254816.wpd
 - 254975.wpd
 - 254977.wpd
 - 254423.wpd
 - 254980.wpd
 - 254981.wpd
 - 255084.wpd
 - 255146.wpd
 - 255563.wpd
 - 255568.wpd
 - 255717.wpd
 - 255729.wpd


Dick wants to over inject as much as possible for the holiday weekend.  I
adjusted the deal tickets in Sitara.  We will inject 31,463 on the 1st, and
31454 on the 2nd-5th.  Our injections drop to 25172 on the 6th.


I am available - best after 6:30 or 7:00.  Where is always difficult -
quieter as opposed to noisy & crowded - but not dead either (I'm not picky am
I?).  Any suggestions?

	"Jim Avant" <jfa@daplaw.com>
	05/18/2000 02:56 PM

		 To: "mark taylor" <mark.taylor@enron.com>
		 cc:
		 Subject: Beer

Mark, are we still meeting today? If so, you say where and  when.?


The transaction for the sale of the New Albany Peaker Plant just closed.  Paul Garcia of Enron treasury confirmed that we received the wire transfer of the purchase proceeds from Duke.

I would like to personally thank everyone that was involved in the sales process.  This transaction went very smoothly and I received several compliments from our counterparty regarding our professionalism on this deal.

Please take all post-closing actions that are required to finally consummate the conveyance and also be aware that the Purchase and Sale Agreement requires us to keep any and all data or information regarding the project and the transaction confidential for a period of two years.  In order to comply with the foregoing provision, I would strongly suggest that conversations regarding this transaction be limited to only those Enron employees who have a "need to know."

Thanks

Stuart


To: ???????Rick Shapiro - Enron

From: ???Joe Synan

Date: ????June 7, 2001

Re: ???????Enhancing the Leadership

Rick,

I have prepared the attached as possibly helpful to "enhancing the
leadership."

I am sorry this was so long in coming - I dropped the ball on this before I
took vacation ?- then discovered my error when I returned.

I'll call to follow up.

Thanks.
 - Enron State Gov PP.508.doc


We have not been subpoened this time, but some of our firends have.  It seems as if they are going after their own now.  I just don't get it.

 -----Original Message-----
From: 	Ronald Carroll [mailto:rcarroll@bracepatt.com]
Sent:	Thursday, September 27, 2001 7:13 AM
To:	breilley@coral-energy.com; MMilner@coral-energy.com; acomnes@enron.com; jsteffe@enron.com; Alvarez, Ray; smara@enron.com
Subject:	Fwd: State subpoenas 16 energy officials

--------- Inline attachment follows ---------

From:  <tbradley@bracepatt.com>
To: Aryeh Fishman <afishman@bracepatt.com>, Andrea Settanni <asettanni@bracepatt.com>, Dan Watkiss <dwatkiss@bracepatt.com>, Jacqueline Java <jjava@bracepatt.com>, Kimberly Curry <kcurry@bracepatt.com>, Ronald Carroll <rcarroll@bracepatt.com>
Date: Thursday, September 27, 2001 1:29:25 GMT
Subject:

FYI - the list of people who received the subpoenas is at the end of this article.

State subpoenas 16 energy officials

Senate investigating decisions that led to lifting limits on electricity prices

Mark Martin, Chronicle Staff Writer
Thursday, September 27, 2001
?2001 San Francisco Chronicle

URL: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2001/09/27/MN227803.DTL

A state Senate committee began delivering subpoenas yesterday to 16 California energy officials to determine whether they colluded to manipulate the state's dysfunctional power market.

The probe will focus on decisions made last December that led federal regulators to lift limits on the price of electricity and sent costs skyrocketing, said state Sen. Joseph Dunn, D-Santa Ana.

Dunn wants to know why Terry Winter, the man in charge of the state's power grid, defied his board of directors and Gov. Gray Davis when he asked federal regulators to remove key price caps.

A spokesman for Winter said that the limits were causing energy producers to abandon California and that Winter acted to keep the state from plunging into darkness.

But with the price ceilings eliminated, energy prices soared and California's three electricity utilities began tumbling toward insolvency -- forcing the state to begin buying power with taxpayer dollars, according to Dunn.

"The way things unfolded in December are very suspicious, and they directly led to the disaster that struck in January," said Dunn, chairman of a special Senate committee investigating energy market manipulation.

Winter, who is president and chief executive officer of the Independent System Operator, and 15 others will be required to provide sworn testimony in depositions. They also must provide e-mail messages, notes and phone records.

The others facing subpoenas include high-level ISO management officials and current and former board members.

The ISO board, which had members who worked for energy producers, was accused by many of being too cozy with power providers and was replaced in January by a five-member panel appointed by Davis.

Dunn hopes to retrace events surrounding some of the peak days of the state's energy crisis.

The ISO board had throughout the year lowered the limits at which energy producers could sell power. Price controls that were set at $750 per megawatt were reduced dramatically by October.

But soaring natural gas prices greatly increased the costs of producing electricity, and by the end of the month, generators sent a flurry of letters to the Federal Energy Commission urging an end to price limits.

By December, electricity producers were not interested in selling power to California utilities at rates that meant they would lose money, said Gregg Fishman, an ISO spokesman.

"The market was completely dysfunctional at that point," Fishman said. "There was no energy being bid. We're supposed to keep the lights on, so something had to be done."

On Friday, Dec. 8, without telling ISO board members or the governor, Winter and other top ISO managers sent a 50-page request to Federal Energy Regulatory Commission officials asking that they make an emergency ruling and drop price caps. The commission, which had outlined a plan in November to end the price limits, approved the request.

Generators were allowed to charge more than $250 per megawatt as long as they could prove their costs.

Average prices the utilities paid for electricity shot up from $484 per megawatt on Dec. 5 to $677 per megawatt on Dec. 11. Less than a month later, the state began buying power for cash-strapped utilities, which couldn't afford the high prices.

"They (ISO officials) poured gasoline on a fire," said Steve Maviglio, the governor's spokesman.

Although Winter, who serves at the pleasure of the board, was acting within ISO rules during an emergency, the governor and some power grid board members were outraged at the behind-the-scenes maneuvering. Dunn wants to know whether the ISO and energy producers campaigned together to eliminate the price limits.

"I was appalled we weren't consulted about something so significant," said Michael Florio, a consumer advocate who sits on the ISO board. "It was bad judgment at the very least."

Florio, one of those subpoenaed by Dunn's committee, said the ISO board met the next week to discuss Winter's actions, but he said a majority of board members didn't want to get rid of the president of the power grid in the middle of a crisis.

--------------------------------------------------------------------------------
Subpoenaed
The 16 people subpoenaed in the state Senate investigation of energy market manipulation are:

STAFF MEMBERS:
Terry Winter, ISO president and chief executive officer

Kellan Fluckiger, ISO chief operations officer

Anjali Sheffrin, ISO director of market analysis

Jim Detmers, ISO vice president of grid operations

Elena Schmid, ISO vice president of corporate and strategic development

FORMER ISO BOARD MEMBERS
Barbara Barkovich

Gregory Blue

John Fielder

Michael Florio, still serves

Karen Johanson

Carolyn Kehrein

Jan Smutny-Jones

V. John White

Ken Wiseman

Michael Woods

Eric Woychik

E-mail Mark Martin at markmartin@sfchronicle.com.

?2001 San Francisco Chronicle   Page A - 13


I left a message for either one of you to call.  I need to see you today.
Early as possible.  Shouldn't take any more than 10 minutes.

PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility.  Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission.  Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.


Sara:

Please direct comments my way.

Thank you,
Tom Alterson
JP Morgan Futures Inc.
60 Wall Street, 41st Floor
New York,  NY 10260-0060
Tel. (212) 648-4315
Fax (212) 648-5347

Sara.Shackleton@enron.com on 02/16/2001 02:18:33 PM

To:   alterson_thomas@jpmorgan.com
cc:
Subject:  Enron North America Corp:  executuion of Futures Agreement

Tom:

To whose attention should I direct comments to the Client Agreement?

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

This communication is for informational purposes only.  It is not intended as
an offer or solicitation for the purchase or sale of any financial instrument
or as an official confirmation of any transaction. All market prices, data
and other information are not warranted as to completeness or accuracy and
are subject to change without notice. Any comments or statements made herein
do not necessarily reflect those of J.P. Morgan Chase & Co. Incorporated, its
subsidiaries and affiliates.


The report named: Power West Price Off-Peak <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=31&report_name=Power+West+Price+Off-Peak&category_cd=6&category_name=WEST&toc_hide=1&sTV1=6&TV1Exp=Y&current_efct_date=10/24/2001>, published as of 10/24/2001 is now available for viewing on the website.

(Revision: 3)


Tom,

Below is a copy of the Weekly Report from October 8 through October 12, 2001.

Please note a few changes from last weeks report.  The Potential Revenue Generating transaction count as well as the Potential Revenue from those transactions has changed to reflect new Nom Logic Pricing as discussed last week.

An amendment template has been created and will be sent to customers for discussion purposes at the appropriate time in the revisions process.  We will monitor customers who have received this template in the upcoming weekly reports.

Finally, we have included a new table in the report which reflects our Counterparties Current Trading Agreement Status.  This will include a reporting of which companies have ISDA Agreements, ENA Agreements, Counterparty Agreements, or No agreements in place which should give us a more accurate idea of where our hang ups will be in the legal process.

If you have any questions, please let me know.

Thanks

Forrest


Lexi,

I completely forgot to turn in my expense report from last months recruiting
trip.  Things around here have been absolutely crazy, as I'm sure they have
been for you.  In addition to the attached file below I am forwarding the
hard copy to your office.  Let me know if there is anything else I can do to
help with the process.

Thanks,
Susan


11:00 Classes will be postponed until further notice.

Thanks!


I'm thinking that the 1st paragraph of the GE override letter needs
massaging, since it refers to the master agreement.  I'll be glad to do it
when I can, but I'm knee deep in the ABB agreement at this point.

Kay


Start Date: 4/20/01; HourAhead hour: 3;  HourAhead schedule download failed.
Manual intervention required.


This looks like it might be built with you in mind.  Small. TV and DVD. http://www.toshiba.ca/ceg/html/MD20FL1.htm
Jai Hawker
Peters & Co. Limited
(403) 261-2259


At the request of Carol St. Clair, I am attaching our proposed amendment to
the referenced master.  Please call me at (713) 853-3399, or Carol at (713)
853-3989 if you have any comments or questions.  If the amendment meets with
your approval, please have two copies executed by an authorized officer of J.
Aron and return them to me for signature by Enron.

Thanks for your help!


9302 Cyresswood Drive
Spring Tx 77379


Notice # 01-157
May 14, 2001

TO:
ALL NYMEX/COMEX DIVISION MEMBERS
ALL NYMEX/COMEX DIVISION MEMBER FIRMS
ALL NYMEX/COMEX DIVISION CLEARING FIRMS
ALL NYMEX/COMEX DIVISION OPERATION MANAGERS

FROM:
Stu Smith, Senior Vice President, Operations

RE:
Exchange Early Contract Closing Schedule for May 25, 2001

Please be advised that the Exchange will close markets earlier on Friday,
May 25, 2001, the business day preceding Memorial Day. The following early
contract closing schedule will be implemented:

NYMEX DIVISION

Commodity                     Closing Range

Palladium Futures             11:58 a.m. - 12:00 noon
Platinum Futures and Options       12:08 p.m. - 12:10 p.m.
Heating Oil Futures and Options          *12:58 p.m. -  1:00 p.m.
Unleaded Gasoline Futures and Options    *12:58 p.m. -  1:00 p.m.
Crack Gas & Crack Heat Options           12:58 p.m. -  1:00 p.m.
Propane Futures                    12:58 p.m. -  1:00 p.m.
Crude Oil Futures and Options      12:58 p.m. -  1:00 p.m.
Henry Hub Natural Gas Futures &Options   *12:58 p.m. -  1:00 p.m.
Permian Pool Natural Gas Futures   12:58 p.m. -  1:00 p.m.
Alberta Natural Gas Futures              12:58 p.m. -  1:00 p.m.
Gulf Coast Gasoline Futures        12:58 p.m. -  1:00 p.m.

COMEX DIVISION

Aluminum Futures and Options       11:59 a.m.  - 12:00 noon
Copper Futures and Options         **12:04 p.m.  - 12:05 p.m.
Silver Futures and Options         12:04 p.m.  - 12:05 p.m.
Gold Futures and Options      12:09 p.m.  - 12:10 p.m.
The Eurotop 100 & 300 contracts will conduct normal trading hours.

The NYMEX Late Submissions Area is scheduled to close at 2:30 p.m. and the
NYMEX Trade Correction Area will close at 3:15 p.m., the TMS trade
allocation screens will be available until 4:30 p.m.  The COMEX Division's
OLTE System will be available for corrections until 2:30 p.m.  In the event
that you require additional time to process work, or have questions
regarding early close procedures, please call Fred Tantao 299-2045, Rob
Stasi 299-2067, George Henderson 299-2071, Les Faison 299-2070 (NYMEX
Division) or Michael Campanelli 299-2072, David Sherman 299-2061 (COMEX
Division).

*    Option Expiration Procedure will be conducted at approximately 3:15
p.m. for the ON, OH & GO June 2001 contract months.
**  Option Expiration Procedure will be conducted for the HX June 2001
contract month.
*** All Electricity Future and Option contracts on NYMEX Access will close
at 1:00 p.m.

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


i got my full bonus today - i have to work at enron 90 days or else i owe them 125% of it but i have it and am going to deposit it at waterhouse.  word'em


Hello, Vince!

I just got this from Steve Bigalow.  Is it okay to use for Monday's
newsletter?

Thanks for the help,

Sam

---------------------- Forwarded by William Smith/Corp/Enron on 03/09/2001
12:42 PM ---------------------------

Steve Bigalow
03/09/2001 11:39 AM
To: William Smith/Corp/Enron@Enron
cc:

Subject: Re: article


Ken Lay, Enron Chairman and CEO, will be hosting an Office of the Chairman "open mike" eSpeak session Wednesday, September 26, at 10 a.m. Houston time.

Can't make the live event?  No worries.  Go to  eSpeak (http://ethink.enron.com/eSpeak/exec/default.asp) now and submit your question.  Ken will try to answer it during his event and you can read the transcript later.

<Embedded Picture (Metafile)>


Last Tuesday Global Finance Europe closed  a new off balance sheet facility
with Barclays creating up to $1bn of capacity for existing and new physical
metals trades for Enron Metals.  This transaction will be added to through an
additional $350mm of capacity from Credit Lyonnais and compliments the $750mm
Warrants structure completed in September.

Each transaction involves a sale of either Physical Metal or Warrants to the
bank with Enron receiving an associated call option. The bank hedges its
market risk through a  complimentary foward sale with the LME. The new
physical metal facility will start receiving its first trades this week.

The transaction achieves much for Enron:
Deconsolidation of approximately $2bn of debt financed inventory which came
with the aquisition of MG plc;
The creation of new capacity to grow the business beyond its existing base;
Committed facilities for the business unit which are at a lower cost  than
the original debt financed facilities;
The creation of an additional  $2.15 bn capacity in the bank markets as the
facilities extinguish up to 20 lines of existing credit in the banks market;
A clearer reporting and control structure for the funding of Enron Metals.;
A repeatable low cost structure which meets all tax and accounting tests for
applications across all our business lines

Congratulations to the deal team on this great effort

EGF     Bill Appleby, Anne Edgley
Enron Metals    David Tregar; John Lunzer; Howard Carter; Clive Hutchings;
William Sell
Legal    Justin Boyd
TransSupport / Acctg   Melissa Allen; Phillip Lord
Tax    Janine Juggins; Catharina Clabots; Angela Brown


???????????????????????????????????????????? Rick
---------------------- Forwarded by Rick Buy/HOU/ECT on 02/23/2001 08:09 AM
---------------------------
From: Michael Tribolet/ENRON@enronXgate on 02/23/2001 07:11 AM
To: Rick Buy/HOU/ECT@ECT
cc:
Subject: FW: Harold Buchanan to Attend MIT Sloan School Executive MBA Program

FYI

 -----Original Message-----
From:  Dalia, Minal
Sent: Thursday, February 22, 2001 7:10 PM
To: Tribolet, Michael; Gorny, Vladimir; Hachen, James; Gorte, David; Ruane,
Mark; Bradford, William
Subject: Harold Buchanan to Attend MIT Sloan School Executive MBA Program

---------------------- Forwarded by Minal Dalia/HOU/EES on 02/22/2001 07:08
PM ---------------------------

	Enron Energy Services  From:  EES Office of Chairman
 02/22/2001 05:30 PM

Sent by: Carol Moffett
To: EES_Employees
cc:
Subject: Harold Buchanan to Attend MIT Sloan School Executive MBA Program

We are pleased to announce that Harold Buchanan will attend MIT Sloan School
Executive MBA Program.  Harold and his family will leave for Boston in
April.  In the meantime, he will work on special projects for EES and Marty
Sunde will be assume leadership of Harold's organization until a replacement
for Harold is found.

Please join us in congratulating Harold and in wishing him and his family the
very best of luck in New England.  We look forward to his return to Enron in
2002.


Hi Ms. Causholli,

I have made recently a major multiclient study "Outlook for World Tissue
Business" which includes all tissue mills with capacities worldwide plus
capacity profiles by the largest producers worldwide and by region. I attach the
study proposal with this e-mail. The report costs US$ 3,500 (300 pages with
detailed Annexes).

If you would like to have only capacity data for the regions you mentioned plus
the top 10-12 global producers, I could sell this part of information at US$
600. You should specify the form in which I should present it so that I
could easier fulfil your data needs.

Best regards

Esko Uutela
EU Consulting

Causholli, Monika schrieb:
> Hello Mr. Uutella,
>
>
> I am an analyst working for Enron Industrial Markets in Houston, Texas
> and I am gathering some information on tissue. I spoke to Rod Young and
> David Pinault from RISI and they told me to contact you as you do some
> more extensive studies on tissue usage.
>
> What I am looking for are: tissue capacity worldwide and by region
> (North America, Europe, Latin America, Asia)
> and the biggest companies that produce tissue.
>
> Can you also include how much this information would cost?
>
> Thanks in advance,
> Monika Causholli
> Enron Industrial Markets
> (713) 345 1510
>
>
>
>
> **********************************************************************
> 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.
> **********************************************************************


Janet, don't trip me up until after January 15.
---------------------- Forwarded by David W Delainey/HOU/ECT on 01/03/2001
10:58 PM ---------------------------

Janet R Dietrich
01/03/2001 08:57 AM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: TVA Status

Hey Dave. We are focused on selling our interests in the Calvert City, Ky.
site now that we've successfully transferred the AES sale from Calvert City
to Haywood. We have two counterparties that have shown a high degree of
interest in Calvert City: Duke and Cleco. There are no issues surrounding
Cleco but there may be with Duke from the following standpoint: our Calvert
City site is ahead of Duke's Calvert City site in the interconnect que.
Apparently, TVA erroneously did not factor in our interconnect application
into their facilities study for Duke, and gave Duke an indication that there
should not be material transmission upgrade costs for their plant
interconnect. As both TVA and Duke now realize, our interconnect status does
present a problem for Duke (and therefore TVA). We plan to talk with Duke in
parallel with Cleco and I anticipate Duke then confronting TVA with the
situation.

I want to ensure our discussions with TVA and Duke over the next few weeks
don't jeopardize our settlement with TVA. Will this settlement be closed by
mid-January (thought that's what I heard)? Let me know your thoughts. Thanks.


Jan-

Looks good.  I'll finalize with Renato when he gets back in town tomorrow.
We'll email you then.

Thanks for all your help.

Susan

"Janis Pereira" <janisp@dialdata.com.br> on 04/17/2001 05:21:15 PM
Please respond to "Janis Pereira" <janisp@dialdata.com.br>
To: "Susan Pereira" <Susan.W.Pereira@enron.com>
cc:
Subject: INFO ON FOZ

Hi Susan,
??? Went by the travel agent's  today to see what she found for your trip to
Foz.? I'm still waiting on  some confirmed prices but a strong estimate would
be between R$1,000 to R$1,300  and depending on the exchange it would be
between US$500 and US$650 per  person.? The price includes airfare, hotel 2
nights, complimentary  breakfast all mornings, transport from and to airport,
english speaking guide  and driver (he also takes you to the Argentina side),
tours on the Brazil and  Argentina sides, boat tour at the bottom of the
falls, and a tour of the aviary  of tropical birds of Brazil.? There's also a
helicopter tour you can take  but it's not included in the price.? This is
with TAM airline.?
??? We would stay in Rio Sunday,  Monday and then on Tuesday you and Renato
would leave Rio around 11am and arrive  in Foz around 2:30 and get to the
hotel around 3:30.? You would spend all  day Wednesday there and leave
Thursday at 3:30 to arrive in SP at  5:00PM.
??? When she confirms the prices  I'll send you all the details.? Until then,
let me know what you think of  this so far.
?
???  Jan


This is a reminder to join Ken Lay, Jeff Skilling and Joe Sutton for an
all-employee meeting hosted in the London office on Monday, Feb. 28, 2000.
The meeting will begin at 4 p.m. London time (10 a.m. Houston time).  Ken,
Jeff and Joe will discuss Enron's year-end financial and operating results
and the company's outlook for 2000 and beyond.

Using Enron Broadband Services' video streaming capabilities, the meeting
will be streamed live to the desktop for employees in Houston, Omaha,
Portland, Calgary, New York, Stockholm, Amsterdam and Frankfurt.  To view the
meeting, you must have IP-TV and a sound card installed on your computer.  If
you are not able to view the meeting live using IP-TV, a videotape will be
available after the meeting.  U.K. and European employees may contact Mary
Gopalan for a copy of the video.  U.S. and other international employees may
contact Mary Clark by email to reserve a copy.

If you plan to watch the meeting using IP-TV, you can test your IP-TV prior
to the meeting using the instructions below.  If you experience technical
difficulties, please contact your PC Help Desk.

Following are instructions for launching IP-TV by company LAN and/or location:

 EI employees in Three Allen Center  -
  Start Menu....Programs...General Information...IPTV Icon

 EES and Omaha employees -
  Start Menu....Programs...Cisco IPTV Viewer...IPTV Icon

 ENA Houston, Corp Houston, New York, Calgary and Portland (does not include
EBS and PGE in Portland)
  Start Menu...Programs....IPTV Viewer Icon

 London -
  Menu option: START...Programs...Utilities...IPTV viewer/

 Frankfurt/Stockholm/Amsterdam -
  Start Menu...Programs...Cisco IPTV Viewer...Cisco IPTV Viewer

For the first time, the question and answer session will be open to all
employees worldwide using eSpeak.  You can submit your questions in advance
on the eSpeak web site at ethink.enron.com or during the meeting from 4 to 6
p.m. London time (10 a.m. to noon Houston time).  Ken, Jeff and Joe will
attempt to answer as many questions as possible in the time available.  All
eSpeak questions and those submitted by London employees during the meeting
will be included in an eSpeak transcript following the meeting.

Mark your calendar for this global employee communications event.  See you
there.


11:15 today still works.


Please print for me.  Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 11/13/2000 01:38 PM
---------------------------

"Wendy Roy" <wroy@riskwaters.com> on 11/13/2000 11:34:06 AM
Please respond to <wroy@riskwaters.com>
To: <sally.beck@enron.com>
cc:
Subject: E-Business Conference

Dear Sally,

Please find attached a copy of the brochure for our E-Business conference in
New York. Do let me know what you would like me to make you aware of and I
will gladly keep track of our conferencing schedules and let you know about
the appropriate ones.

Regards
Wendy

 - E-busine.pdf


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/04/2001 05:37 PM ---------------------------

"Sogomonian, Aram" <Aram.Sogomonian@pacificorp.com> on 05/04/2001 02:22:02 PM
To:	"'vkamins@enron.com'" <vkamins@enron.com>
cc:
Subject:	schedule

Vince,

My schedule for the RISK 2001 conference in Houston is:

arrive Sunday 4/13 9pm.

Staying at the Houstonian

depart Tuesday 4/15 5:30 pm.

Hopefully, we can get together.

thanks, Aram  (cell phone 503-701-6692)