Location of Meeting:  EB-4051 (Steve Hotte's office)

Meeting Purpose:
Planning session to discuss and agree on key issues and actions for ongoing
support and development.

Expected Outcomes:
Understand the new SAP organization structure, roles and responsibilities.
Understand top three or four production support concerns.
Gather feedback on proposed list of enhancements and projects for the next
6-12 months.
Understand the proposed planning process for new enhancements and projects.
Outline next steps.


Attached is the form of CA.  Let me know if you have any questions.


Did Chris call you about this?  SS
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 10/15/99 02:02
PM ---------------------------

	From:  Chris H Foster                           10/15/99 01:53 PM

To: Sandra McDonald/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Dale
Rasmussen/HOU/ECT@ECT
cc: Frank W Vickers/HOU/ECT@ECT
Subject: Aquilla Muni Deal

I spoke to Todd Busby.  He said he is trying to set this up as a transaction
where we could directly link the two swaps.  It is my understanding that this
would simplify the transaction in that the credit/contracting process would
be fairly straightforward.  He said that he needs to get his internal ducks
in a row before he is prepared to take a step forward with us.  He will call
me if and when this occurs.   So, this might not come to anything.  I will
let you know if and when he surfaces so we can decisde what we should do next.

Thanks!!

Chris


---------------------- Forwarded by Drew Fossum/ET&S/Enron on 02/25/2000
05:30 PM ---------------------------
ET & S Business Intelligence
From: Lorna Brennan on 02/23/2000 11:21 AM
To: Bill Cordes/ET&S/Enron@ENRON, Julie McCoy/ET&S/Enron@ENRON, Lou
Geiler/ET&S/Enron@ENRON, Tim Aron/ET&S/Enron@ENRON, Steve
Klimesh/ET&S/Enron@ENRON, Sarabeth Smith/ET&S/Enron@ENRON, Gary
Sova/ET&S/Enron@ENRON, Rob Wilson/ET&S/Enron@ENRON, Lon
Stanton/ET&S/Enron@Enron, Kristen Hand/ET&S/Enron@ENRON, Margaret
Carson/Corp/Enron@ENRON, Rita Hartfield/Corp/Enron@ENRON, John
Goodpasture/OTS/Enron@ENRON, Rockey Storie/ET&S/Enron@ENRON, Kent
Miller/ET&S/Enron@ENRON, John Dushinske/ET&S/Enron@ENRON, Dave
Neubauer/ET&S/Enron@ENRON, Michael Bodnar/ET&S/Enron@ENRON, Joni
Bollinger/ET&S/Enron@ENRON, David Badura/ET&S/Enron@Enron, Janet
Bowers/ET&S/Enron@ENRON, Craig Buehler/ET&S/Enron@ENRON, Bob
Burleson/ET&S/Enron@ENRON, Allen Cohrs/ET&S/Enron@ENRON, John
Fiscus/ET&S/Enron@ENRON, Bret Fritch/ET&S/Enron@Enron, Steve
Gilbert/ET&S/Enron@ENRON, Morgan Gottsponer/ET&S/Enron@ENRON, Brenda
Harris/ET&S/Enron@ENRON, James Harvey/ET&S/Enron@ENRON, Stephen
Herber/ET&S/Enron@ENRON, Dana Jones/ET&S/Enron@ENRON, Jane
Joyce/ET&S/Enron@ENRON, Stephanie Korbelik/ET&S/Enron@ENRON, Bill
Mangels/ET&S/Enron@ENRON, Penny McCarran/ET&S/Enron@ENRON, Vernon
Mercaldo/ET&S/Enron@ENRON, Larry Pavlou/ET&S/Enron@ENRON, Eileen
Peebles/ET&S/Enron@ENRON, Maria Perales/ET&S/Enron@ENRON, Tony
Perry/ET&S/Enron@Enron, Loren Penkava/ET&S/Enron@ENRON, Ken
Powers/ET&S/Enron@ENRON, Joan Schwieger/ET&S/Enron@ENRON, Chris
Sebesta/ET&S/Enron@ENRON, Frank Semin/ET&S/Enron@Enron, Neal
Shaw/ET&S/Enron@ENRON, Larry Swett/ET&S/Enron@ENRON, Kay
Threet/ET&S/Enron@ENRON, Mike Ullom/ET&S/Enron@ENRON, Lisa
Valley/ET&S/Enron@Enron, Chuck Wilkinson/ET&S/Enron@ENRON, Jim
Wiltfong/ET&S/Enron@ENRON, Jo Williams/ET&S/Enron@ENRON, Karen
Lagerstrom/ET&S/Enron@Enron, Ray Stelly/ET&S/Enron@ENRON, Bob
Stevens/ET&S/Enron@Enron, Sue M Neville/ET&S/Enron@ENRON, Mike
Barry/ET&S/Enron@ENRON, Miriam Martinez/ET&S/Enron@ENRON, Martha
Janousek/ET&S/Enron@ENRON, Kimberly Watson/ET&S/Enron@ENRON, Don
Powell/ET&S/Enron@ENRON, Melinda Tosoni/ET&S/Enron@ENRON, Steve
Weller/ET&S/Enron@ENRON, Michael G Stage/ET&S/Enron@ENRON, Tim
Johanson/ET&S/Enron@ENRON, Chris Gaskill/ET&S/Enron@ENRON, Dari
Dornan/ET&S/Enron@ENRON, Maria Pavlou/ET&S/Enron@ENRON, Jim
Talcott/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Michel
Nelson/ET&S/Enron@ENRON, Mike McGowan/ET&S/Enron@ENRON, Julia
White/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Shelley
Corman/ET&S/Enron@ENRON, Lindy Donoho/ET&S/Enron@ENRON, Jeffery
Fawcett/ET&S/Enron@ENRON, Lorraine Lindberg/ET&S/Enron@ENRON, Kevin
Hyatt/ET&S/Enron@Enron, Christine Stokes/ET&S/Enron@ENRON, TK
Lohman/ET&S/Enron@ENRON, Lee Huber/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Mary
Darveaux/ET&S/Enron@ENRON, Rita Bianchi/ET&S/Enron@ENRON, Mary Lou
Hamilton/ET&S/Enron@ENRON, Steve Thomas/ET&S/Enron@ENRON
cc:
Subject: Enron Press

This article appeared in Enerfax today:

Enron Not Looking for New Business M&A in 2000

    Enron does not expect any mergers or acquisitions of new business and is
not interested in selling its pipelines. Enron will seek opportunities to
fill-in its businesses with asset purchases, rather  than purchasing new
businesses. It will be giving a detailed view of its telecommunications
business at an analysts meeting in Houston today. Enron says Europe, Latin
America,s southern cone and Japan provide great opportunity. Enron,s EnCom
unit,s recently teamed with the Japanese firm Orix to participate in the
retail electricity sales business when the Japan market is opened, currently
scheduled for this March. Enron plans to use EnronOnline as its vehicle to
enter the European market. EnronOnline, the global Internet-based transaction
system for wholesale energy and other commodities, will soon allow it to
reduce back-office costs in a transaction substantially. In addition to being
able to cut the $1,000-$1,500 per transaction as much as 80-90%, EnronOnline
will create an environment where a buyer or seller of natural gas or power
will be able to more easily, with a computer mouse click, process complex
power and natural gas transactions.


Ken and Jeff:

As you know, last year Enron produced its first ever EHS annual report with
some mentions of our new Corporate Responsibility program.  We are producing
this year's version, which is expanded both in the environmental reporting as
well as our human rights and social initiatives covered.  Mike Terraso and I
would like to include an opening letter by the two of you (last year Ken
signed it).  Will you please review the attached and edit, comment or approve
by next week?  We appreciate your help with this.


Attached is June's Curve Validation memorandum.  Please do not hesitate to
call if you have any questions.

Gary
X35502


Executive Summary
-CPUC rules that SoCal must pay 15% of debt to QFs (approximately $50 million)
-Ruling heightens likelihood of voluntary bankruptcy filing by SoCal
-Voluntary filing further heightened by successful ring-fencing by EIX parent
-Bankruptcy judge firm in support for QFs

Report

1. SoCal Loses CPUC Ruling, But Retains Appeal Option

As you may have seen, Bloomberg reported that the CPUC voted 5-0 to force
SoCal to make 15% of its payments owed to alternative energy producers in
California.  CPUC rules allow 30 days to appeal its rulings, leaving a window
open for SoCal to buy more time.

2. Voluntary Filing In?

With regard to a SoCal bankruptcy filing, the key now is how SoCal's board
feels about progress rather than deadlines with creditors.  In other words,
sources believe that a voluntary filing is more likely than an involuntary
filing.  A continuing lack of progress on a bailout and an increase in the
number of liens filed against SoCal is more likely to make the SoCal board
want to file for bankrutpcy voluntarily.  The recent ring-fencing by Edison
International reflects their need to pay off cross-default risk and to cut
ties
in their bank facility between the parent company and lines of credit helds
by SoCal.
 In and of outself, it does not necessarily signal an imminent filing.

3. Involuntary Out?

Sources indicate that the unsecured financial creditors are not
considering a filing against SoCal.  This is because the financial creditors
believe that they would still be worse off in bankruptcy.  Sources report
that in creditor discussions, there has not been talk of the debt holders
not being paid.  "People have talked about screwing the generators and
everyone else, but not the debt holders," a source commented.

The QFs are unlikely to file against SoCal because they have fairly good
contracts in place.  Also, they receive high capacity fees in the summer
(these fees vary seasonally and are distinct from generating fees).  These
capacity fees are calculated on a rolling, 4-year basis and will be
re-calculated next year.  The QFs want this summer included in the
recalculation, incentivizing them to keep their contracts in place.

4. Montali Supporting QFs

Judge Montali, by his recent rulings, is sending a signal that he is
concerned for the QFs and is sensitive to their hardships.  He is trying to
help them through his rulings.  For example, as long as QFs remain on line,
those who petition can receive additional payments from PG&E.  Over a
4-month period, these payments equal 20% of the QFs' pre-petition claims.
This provides the QFs incentive to remain connected to PG&E.

5. GE Looking to Restructure Generating Capacity Financing

General Electric is reportedly "deeply concerned" about the stability of
financing generating capacity in the US.  (GE has over 70% of the gas
turbine market.)  GE is reportedly trying to keep its margins down and is
not raising its prices due to concerns about instability.  Sources believe
that a very significant percentage of generating capacity financing will
have to be restrucured in five years.


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Power Markets 2002: Risk and Reward
April 17-18, 2002 ? Excalibur Hotel ? Las Vegas, NV
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We will see record numbers of new powerplants coming on line this year. New, much larger RTOs promise dramatic increases in liquidity. The Enron fallout will continue to force balance sheet improvements-- perhaps more mergers and acquisitions. Price volatility will continue, and risk management techniques will continue to be honed.
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Transmission and RTOs
Representatives from PJM, Cal ISO and Midwest ISO on their respective regions.

Insurance
Scott Ettien from NCM, Lynda Clemmons from Element Re and Pat Toner Goudarzi from ACE, on Credit Insurance, Weather-risk Insurance and Innovative Insurance Products, respectively

Exchanges
Monte Simpson of InterContinental Exchange and Brad Leach of NYMEX on the growth in the use of exchanges. Credit
Susan Abbott of Moody's on evolving credit standards in our industry

Markets
Kevin T. Howell President, Dominion Energy Clearinghouse, Dave Freeman of Panda and Mike Young of Aquila on the state of various aspects of the power markets.

And More!
Cabell Poindexter of Wyndham Mills on job prospects! John OBrien of Skipping Stone on the outlook for Transmission! Henwood on outlook for powerplant construction! Adrian Palmer of Caminus Corp on European Markets!
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California ISO	 ICE
NCM Americas
Henwood Energy Services
Element Re
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In this Workshop, Mark Griffith Director, Strategic Risk Analysis Henwood Energy Services, Inc will teach you how to apply this concept of Risk Transparency to your company's energy portfolio. This will include:

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What more is being demanded by the investment community
Key risk metrics that can explain your companies risk position
A detailed approach to measuring and communicating your company's portfolio risk, utilizing a case study that takes you through the vital steps of data collection, measurement and presentation of results

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Address:
335 Piney Point Road
Houston, TX 77024
Phone:
(713) 782-0481
Principal:
Dr. Annette Smith
Location:
Suburban
Grade Levels:
PreK-8
Enrollment:
704
Student Characteristics:

Caucasian:
91.0%
African-American:
1.0%
Hispanic:
5.0%
Asian:
3.0%
American Indian:
0.0%
Other:
0.0%
?
?
Mobility Rate:
1.5%
Limited English:
1.0%
Low Income:
0.0%
Special Education:
0.0%
	St. Francis Episcopal Day School in Houston, Texas was founded in 1952 in
response to the needs of the St. Francis Episcopal Church and the surrounding
neighborhood. Currently, the school serves students from the age of three
through the eighth grade. St. Francis is accredited by both the Independent
Schools Association of the Southwest and the Southwestern Association of
Episcopal Schools and is a member of the National Association of Independent
Schools. Our mission is supported through the efforts of our Board of
Trustees, Head of School, school leadership team, faculty, staff, parents,
student body, and friends of St. Francis.
	The school's mission statement is: "In the Anglican tradition, St. Francis
Episcopal Day School challenges motivated students in an academically and
spiritually stimulating environment to become imaginative, critical thinkers,
and people for others."
	Our curriculum is the result of intense work by the talented educators at St.
Francis. We are dedicated to providing a well-rounded, value-centered program
that balances stimulating academics with experiences that broaden students'
knowledge of themselves and today's world.
	The Early Childhood division is organized in learning centers that include
activities with challenging materials and experiences. The classroom becomes
a laboratory where children can explore and experiment. The enrichment
program in early childhood includes experiences with music, motor
development, Spanish, and technology. Our full day kindergarten program
allows children and teachers to explore topics thoroughly. They begin the
nationally recognized Everyday Mathematics, a program rich in problem solving
activities.
	The lower school curriculum provides young learners with a carefully planned,
sequential course of study that includes Reader's and Writer's Workshop,
Everyday Mathematics, "hands-on" science, and integrated social studies.
Specialists teach art, music, physical education, and Spanish. Small class
sizes contribute to the success of each child.
	The Middle School seeks to celebrate the uniqueness of early adolescence.
After completing three years in middle school, students can anticipate being
admitted to quality high school programs, both public and private, and enjoy
the confidence that develops from proper preparation - academically,
socially, and morally. By the end of their eighth grade year, students will
have had the opportunity to receive high school credit for Algebra I,
physical science, and Spanish I.
	Through conferences, professional organizations, workshops, graduate studies,
book clubs, and extensive travel, the men and women who teach at St. Francis
know the current research on how children best learn and use this knowledge
in the classroom. The tradition of an Anglican education coupled with an
energetic expert staff makes magic happen both within the classroom and
throughout our campus.
	St. Francis is committed to providing students with an up-to-date technology
enhanced educational experience. We currently have six staff members
supporting technology and one staff member leading curriculum development on
our campus. Our faculty presented a workshop on using technology in the
classroom at the prestigious Association for Supervision and Curriculum
Development 1997-1998 Conference. Technology at St. Francis is a tool going
beyond computer literacy by incorporating lessons using technological support
in every subject for every student. Students are active participants in
searching for knowledge using the Internet, print, and other electronic
sources. They learn to retrieve and use information to complete projects and
assignments. Each classroom is Internet ready. Along with access to grade
level mini-labs and classroom computers, students have the use of two
high-level multimedia labs containing scanners, digital cameras, video
capabilities, and color laser printers. Teachers and students use technology
as a problem solving, communication, and research tool to enhance an already
rich learning experience. Students use real world technology to present their
information to a wide audience.
	St. Francis offers many exciting opportunities for students to involve
themselves in the fine arts. Through the music, drama, and art programs, our
students learn the values of discipline, perseverance, and commitment, and
the joy of performing in front of a live audience. With strings, choir, band,
drama club, and studio art, students have opportunities to explore their own
creativity and interests while being trained by talented artists and
musicians.
	Along with art in classroom instruction and after school clubs, St. Francis
is extremely proud to offer our students Art a la Carte. This innovative
program enhances the art and social studies curriculum by bringing teams of
trained volunteers into the classroom to help the students learn to
appreciate great art. Costumes, props, food, and other enhancements are
frequently part of the lessons at all grade levels. This integration of art
production and art history makes our art program truly unique!
	Being an athlete at St. Francis Episcopal Day School and playing for the
Wolves are privileges and honors that carry many responsibilities. Middle
school students may sign up for three sports a year, one each in the fall,
winter and spring. They may choose football, cross-country, field hockey,
volleyball, wrestling, soccer, basketball, softball and track. Sixth graders
do not participate in football. Coaches stress the importance of teamwork,
peer relationships, cooperation, discipline, and a healthy body.
	The Classroom of the Earth is an extraordinary program that extends the
classroom walls and allows the students to apply learning in a natural
setting. Starting with the beginner class, it combines curriculum study with
outdoor awareness and provides the ultimate in critical thinking
opportunities and application of problem solving strategies. The program
culminates with an eighth grade trip to Bandelier National Monument near
Santa Fe, New Mexico. While there, students visit Tsankawi ruins, study the
Anasazi culture, and document their trip with lively updates and pictures on
our website. St. Francis alumni often report that some of their fondest
memories are of COE trips. Classroom of the Earth trips are lead by faculty
members and teachers trained through both the National Outdoor Leadership
School and the Wilderness First Responder Course.
	St. Francis is proud of its rich religious traditions including the Feast of
St. Francis, the Blessing of the Animals, celebration of the church seasons,
Episcopal School Sunday, and birthday blessings. Students worship together
twice weekly. Third through eighth graders join together monthly to celebrate
the Holy Eucharist. Students participate in chapel by reading prayers and
scripture and serving as acolytes and crucifers. The chaplain of the school
organizes the worship services. He is available to school families as a
pastor and friend. We invite parents, friends and relatives to worship with
us at any of our services. Religious education is an integral part of the
curriculum from age three through eighth grade. Through study, discussion,
and experiences, students internalize values and develop character to live a
godly life and be of service to others.
	St. Francis is committed to outreach and service. It is our goal that each
student understands that he or she has something unique and special to offer
to the world. By teaching our students to be people for others, they leave
our school with a deeper understanding of community and the concept of giving
of themselves. Together, St. Francis Episcopal Day School, St. Francis
Episcopal Church, the St. Francis Children's Center, and the St. Francis
Sports Association commit to nurturing the spiritual, educational, emotional
and physical development of all God's people. These four entities form the
St. Francis Community, a unique gathering of energy, individuals and ideals.

1998)1999 Blue Ribbon Elementary Schools


Serge:

Sorry to take so long to respond.  A few things:

(1)  What is the correct legal name of the entity you are inquiring about?
Is it the unregulated marketing arm of the regulated utility?

(2)  There has not been a commercial push from the ENA perspective to set up
a new agreement with FPL which explains why I cannot get our credit  goup to
react.  I'll broach the topic again when  I hear from you.

Please let me know if you have any other questions.

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


FYI.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 02/25/2001 03:33 PM -----

	Tom Riley/Western Region/The Bentley Company@Exchange
	Sent by: Michele Curtis/Western Region/The Bentley Company@Exchange
	02/23/2001 08:12 PM

		 To: Marty Sunde/HOU/EES@EES, Dan Leff/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Mike D Smith/HOU/EES@EES, Scott Gahn/HOU/EES@EES, Dennis
Benevides/HOU/EES@EES, Eric Melvin/HOU/EES@EES, Maureen Palmer/HOU/EES@EES,
Wanda Curry/HOU/EES@EES, wanda.curry/HOU/EES@EES, Evan Hughes/HOU/EES@EES,
msmith7043@houton.rr.com@SMTP@Exchange, Jeff Dasovich/NA/Enron@Enron, Tom
Riley/Western Region/The Bentley Company@Exchange
		 cc:
		 Subject: UC/CSU

Attorney/Client Privileged Information

Summary of our follow-on discussion with UC/CSU Friday afternoon (Tom/Dennis
from Enron):
1.  UC/CSU's goal is to reach agreement on the interim solution by the end of
next week (Friday, 3/2)
2.  UC/CSU would like draft language memorializing the structure contemplated
below by COB Monday, 2/26, and asked what our proposed form of agreement
would be (letter agreement, amendment).  Their preference is the first and
expressed concern that if the draft had too many legal terms and/or was too
one-sided, that it would be unrealistic to expect approval by Friday.  I have
since spoken to Mike and I will propose to UC/CSU that we get them a term
sheet on Monday for discussion, with the intent of wrapping the terms into a
letter agreement of a couple pages.
3.  UC/CSU is considering underwriting the risk they would be absorbing
through the interim agreement.
4.  It is both our expectations that during the interim period we would gain
some clarity on the legislative/regulatory landscape such that we could begin
working on a long-term solution.
5.  If we don't reach a long-term solution, we would flip back to the terms
of the existing contract, and are back to the existing issues.
6.  We reinforced the highly confidential nature of these discussions.
Commercial terms
? Intent is to offer an intermediate solution to mediate UC/CSU's concern of
potential long-term consequences (loss of direct access rights preventing
them from gaining financial benefits) due to status as a bundled utility
customer.  Want time for landscape to solidify so we can agree on a long term
solution that would retain them as a direct access customer or a synthetic
version of that (i.e., they still receive the benefits).
? Enron would re-DASR accounts, assuming the following:
? UC/CSU assume liabilities from February 1, 2001 through end of term of
interim agreement, resulting from that action.
? Term to be 90 days, with the option to extend upon the mutual agreement of
both parties.
? Calculation methodology of the liability:  Spot market price minus the
prevailing bundled utility rate plus load shaping costs (Dennis - please
provide the methodology.  Also, what about A/R risk, treatment of
surcharges?).
? Exposure is calculated ex-post (i.e., we will not agree to an amount,
capped or fixed, at the outset).  They want an estimation of the potential
exposure, so we need to make sure we have proper protection that does not
bind us to that estimation. (Alternatively, we can provide them this
estimation outside the agreement, with the same caveats).
? Agree during interim period to work together (good faith effort) to
mitigate the exposure of the liability.
? UC/CSU assumes risk that should we be barred from re-de-DASRing at the end
of the term (due to legislative, regulatory or other actions or
circumstances), UC/CSU would assume this exposure as well.  They countered
with a suggestion for our consideration that such an occurrence be treated as
a force majure event with the affect of terminating the contract.  (This
seems counter-intuitive to me to their desire to remain a direct access
customer - see concern below).
? This was not discussed, but term should include a provision for
confidentiality.
Concern:
It is somewhat disconcerting they have asked for and are considering this
proposal.  They are absorbing our risk, which we shared to be a very large
number ($100M+ over the remaining contract term).  They also did not want to
discuss their regulatory concerns, and enter into a discussion with Dasovich
regarding these.  These points lead me to believe that perhaps they know
something we don't.  Just a consideration for our call Saturday.
Tom

From: Tom Riley/Western Region/The Bentley Company@Exchange@Exchange on
02/23/2001 03:56 PM
To: Marty Sunde/HOU/EES@EES, Dan Leff/HOU/EES@EES, Vicki Sharp/HOU/EES@EES,
Mike D Smith/HOU/EES@EES, Scott Gahn/HOU/EES@EES, Eric Melvin/HOU/EES@EES,
Maureen Palmer/HOU/EES@EES, Wanda Curry/HOU/EES@EES, Evan Hughes/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES
cc: Don Black/HOU/EES@EES, Neil Bresnan/HOU/EES@EES
Subject:

We had a cordial and outside the box discussion with UC/CSU today.

On the call, UC/CSU expressed a concern that in light of the uncertain and
rapidly evolving regulatory and legislative landscape, they do not feel it to
be prudent for them to consider our long-term proposed solutions.  They were
intrigued by our offers and we will take them up at a later date.  In the
meantime, they are proposing we price a short term deal.  This will buy them
re-DASR status until the end of the current uncertain situation.

Proposed Structure:

Enron to temporarily Re-DASR UC/CSU accounts.  UC/CSU liable for any
additional costs incurred by Enron as a result of that action.  Such costs
may include, but not be limited to the following: account receivable risks,
difference between spot market price and utility bundled rate, exposure to
changes in calculation of PX credit applicable to direct access providers (as
compared to spot market purchase price), load shaping costs to follow
customer hourly load without availability of the PX.

Assumptions:

? Enron has sole option to return accounts to De-DASR status at end of term.
? UC/CSU assumes risk should this action be blocked by law, regulation, or
3rd party action.
? Enron retains right in contract to choose source of electricity supply for
duration of existing contract term.
? Enron will work with UC/CSU to mitigate liability exposure (i.e., consider
entering into purchase agreement with utilities, etc.).

Potential liability during term (notional):  $_____ (60 day term);   $____(90
day term)

Potential liability at end of term if Enron is unable to return accounts to
utility supply status at end of term due to potential legislative,
regulatory, or other action or circumstance (notional):   $_____ (assuming 60
day term);   $____(assuming 90 day term)

It is envisioned that during this short term period that the regulatory and
legislative landscape will become clearer, allowing both parties to better
understand their exposure through the term of the contract and beyond.  Once
this clarity is achieved, it is agreed both parties will meet to discuss long
term solutions meeting the needs of both parties.

Please comment with concerns, ideas immediately as we will be back on the
phone with them shortly.

Thank you.

Tom


oscitant (OS-i-tant) noun

   1. Yawning, gaping from drowsiness.

   3. Inattentive, dull, negligent.

[From Latin oscitant, present participle of oscitare, to yawn : os, mouth
+ citare, to move.]

   "What is disquieting is that with the consolidation of one-party control
   in the late 1920s after the Mexican Revolution, the portrait of the
   Mexican changes to one unusual in political representation, oscitant and
   weary."
   Paul Rich, Guillermo De Los Reyes, Mexican Caricature and the Politics of
   Popular Culture, Journal of Popular Culture, Summer 1996.

This week's theme: words to describe people.

............................................................................
I have never met a man so ignorant that I couldn't learn something from
him. -Galileo Galilei, physicist and astronomer (1564-1642)

Everything you wanted to know about online journalism but were afraid to ask.
Here is your opportunity: On Monday, April 9, 2001, join us for an online
chat with Sreenath Sreenivasan, a professor at Columbia University's Graduate
School of Journalism. For more details, see http://wordsmith.org/chat

Pronunciation:
http://wordsmith.org/words/oscitant.wav
http://wordsmith.org/words/oscitant.ram


Mark Taylor just heard that Edmund is very sick and has been out for quite
awhile.  What's the scoop?  Is he in the hospital, will he continue to be
out, is there someplace we can send flowers?  Can you let me know what's
going on.  Thanks!


Guess we need to make the final decision.
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/21/2000 01:52
PM ---------------------------
From: Chuck Randall@EES on 12/21/2000 10:29 AM
To: Greg Parten/HOU/EES@EES, Lisa Mellencamp/HOU/ECT@ECT, Kay
Mann/Corp/Enron@Enron, Cheryl Lipshutz/HOU/ECT@ECT, Jim.curran@abnamro.com
cc:

Subject: NEW YEAR'S EVE

I have booked the 9:45 seating for New Year's eve at Sambuca's Jazz Cafe. Mr.
Pink will be performing until 1:15am ( I know that's late for you Cheryl).
The $100 per person fee covers food and entertainment. The meal will have a
couple of options and sounded very good when read to me over the phone.
Gratuity of 18%, tax, and alcohol are not included. We can all settle up on
the night so no one has to worry about that until next year!!

We have one extra seat so if someone has a good idea of how to fill it,
please let me know asap. Until I next see each of you, have great holiday and
drive safely.

Chuck


However, I'm sure your french is 3000 times better than mine.  I'm planning a
trip to paris at end of jan beg. of feb, by the way.  It really is the best
city in the world to visit

	Enron Capital & Trade Resources Corp. - Europe

	From:  Pierre Aury                           01/10/2001 08:34 AM

To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re: lng shipping

i am sure your english will be about 2000 times better than mine so please
feel free to package the thing the way you think is best (perhaps a nice and
impressive 3 or 4 lines paragraph on egm could be a good intro?)  and just
copy me with what you have sent . give us your dates in london and let us
know if there is anything you want to discuss in details .

pierre

To: Pierre Aury/LON/ECT@ECT
cc:

Subject: Re: lng shipping

Be happy to.  I may take the liberty of a little word-smithing if you don't
mind.  (and will show it to you before i send it) I should be over within the
next 4 weeks.
Regards.
Jeff

	Enron Capital & Trade Resources Corp. - Europe

	From:  Pierre Aury                           01/10/2001 03:18 AM

To: Jeffrey A Shankman/HOU/ECT@ECT
cc: Mike McConnell/HOU/ECT@ECT, Brad Hitch/EU/Enron@Enron, Eric
Gonzales/LON/ECT@ECT, Stuart Staley/LON/ECT@ECT, George McClellan/HOU/ECT@ECT
Subject: lng shipping

jeff
long time no talk on lng shipping matters. during the xmas/new year period we
discussed a lot with brad and have come up with some clear ideas on how to
proceed to drive quickly a market change in the field of lng shipping. the
best bet at this stage looks like mosk the big japanese shipping co . they
control directly or indirectly 40 lng vessels. the lng shipping market is so
inefficient that about 20 pct of that fleet is either iddle or under
utilized. the idea is to team up with mosk to have access to their idle fleet
at marginal cost plus small margin. this would enable us to ask them to give
us a ship every time we can develop a spot lng cargo : no capital outlay, no
take or pay obligation, win /win situ as mosk would then make money (that s
their incentive) out of an iddle fleet and we would then gain access to ships
enabling us to make money on lng spot cargoes without entering long term
comitment on the shipping front .

mosk being japanese , in order to jump start the entire thing we need a fax
to be sent from high level in enron to high level in mosk prior brad and
myself go and meet these guys in tokyo to discuss the idea in more details
(at lower level in mosk the idea is known and accepted/tentative date already
set last days of jan/early feb for the first meeting) . would you mind to
send such a fax along the lines i propose herebelow asap  ?

thanks in advance . any questions please feel free

pierre

quote
to

Mr Iwata , Executive Officer, LNG Division , MOSK
cc Mr Hashimoto , Manager, Project Development team, LNG Division, MOSK
both on fax number (81) 3 35 87 77 48
Mr Amine Hakim, MOSK London
on fax number (44) 870 130 97 37

 Dear Sir

Enron, through its newly formed Enron Global Market business unit, is
targeting the LNG commodity and shipping markets as being key markets for the
coming years mainly on account of their growth potential but as well because
these markets are  ripe for a change in their very nature.

MOSK , because of the sheer size of its LNG shipping fleet and Enron, because
of its proven ability to make markets change, are uniquely positioned to team
up and drive these changes rather than react to them.

Enron would like to explore with MOSK if and how both companies could
cooperate in the lng field to achieve this.

Brad Hitch on the commodity front and Pierre Aury on the shipping front will
be leading this efforts on the Enron side and you can expect to have them
contacting you very shortly to start these discussions.

Yours faithfully

signed
Jeffrey A Shankman         or         Mike McConnell
tittle (in big letters please ...)


Hi Vince!

As the SFO conference draws near we are gearing up for the panel session.
Rita McGrath at Columbia is the chair.

There are four presenters of which you will be the representative from practice.

The others are Rita, Max Boisot of ESADE in Spain and I.

We would like for you to talk for 20 minutes on the major and most successful applications of real options at Enron.

I think the greatest impact will take place if we finishwith you because of the practical implications of your talk for the attendees - there are usually about 400 academics and 400 practiotioners at the conference, though we will be in smaler rooms due to the fact that there are multiple, simultaneous presentations

The conference is at the Westin St Francis


I am trying changes changes to the model. This is what I have right now.


Start Date: 4/8/01; HourAhead hour: 6;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040806.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 6 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/8/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_SKEETER
  ENGY_TYPE: WHEEL


Sami:  I'm concerned about the deals showing up on the origination list which
we received on Friday.  There are multiple references to swaps.  We need to
talk. I'm in Argentina and may not make the call tomorrow because I have
meeting outside the office.  I'll try to call you tomorrow.  sara


Tracy,
	For Saunders I have, 42 full time, 21 part time, and 7 3rd party contract employees.
	I have an Accounting number of (3.5) for the total CE number, with 2. for Unconsolidated and (1.5) for Enron Total.
	Let me know if you need anything else.
	Mary

 -----Original Message-----
From: 	Geaccone, Tracy
Sent:	Tuesday, August 28, 2001 1:57 PM
To:	Botello, Mary
Subject:	FW: Request: Current Headcount

 -----Original Message-----
From: 	Hayslett, Rod
Sent:	Tuesday, August 28, 2001 1:43 PM
To:	Geaccone, Tracy
Cc:	Stevens, Kirk
Subject:	RE: Request: Current Headcount

This is Saunders entire world plus Borcyk's world for tax.   Accounting and Reporting are consolidated, not worth splitting and the cost estimate should be a net Enron estimate.

Call Kirk Stevens for the Portland info and Tod (unless you know who else) for the EREC world.   What about Wessex?

 -----Original Message-----
From: 	Geaccone, Tracy
Sent:	Tuesday, August 28, 2001 10:20 AM
To:	Hayslett, Rod
Subject:	FW: Request: Current Headcount

Lets discuss this before I start pulling data.  I want to make sure I pull in the right groups.  I have a call into Corp to try to figure out what they are getting at here.

 -----Original Message-----
From: 	Schwarzbach, Stephen
Sent:	Monday, August 27, 2001 5:17 PM
To:	Killen, Faith; Geaccone, Tracy; Tran, Agatha; Lee, Dana
Subject:	Request: Current Headcount

Hi everyone.  I have yet another request for which I need your input.  Causey is reviewing his budgets/direct reports, and would like to get the most current headcount numbers for the accounting groups in your business unit(s).

What I mean by accounting groups includes everyone whose superior ultimately reports to Causey.  For instance, this would include the traditional Accounting/Reporting departments, Tax departments, and Transaction Support departments.  It should NOT include any settlements/mid-office groups (for example, Sally Beck's world).  I say "department" because I don't want just accountants, but everyone who is in that dept, i.e. admins, clerks, etc.  If you have a question on any unique situation, please just give me a call and we'll discuss.

The data needs to be as recent as possible.  Hopefully, I can get this as of July 31/August 1.  If you have more recent data, that would be great.  At a bare minimum, I need total headcount as described by group (acct, reporting, tax, etc.)  It would also be useful to get as much detail as possible, i.e. by sub-group, by personnel level, etc., but I know that may be a challenge given the timing of the request.

Additionally, if you can provide me with a "current estimate" for the groups you report, that would be ideal.  I know that the official CE doesn't go to that level, but I'm betting that most of you have something that projects your G&A by cost center (or group/dept) for 2001, as of the 2nd CE.

The headcount information is a must have, and the 2001 cost estimate is secondary, although I'd like to ask everyone to strive to provide both.  If you can't provide estimated costs for the groups you report, please call me so we can discuss.

Speaking of the timing, I need this by Wednesday, August 29 at 12 noon.  This will be given to Rick on Thursday morning, so I'll need some time to consolidate the data and to ask you all any further questions.

If you have any questions, please give me a call.

Thanks,
Steve

PS--Here are the BUs I expect each of you:

Faith (also, let me know if you'd prefer me to email this to each group instead of going through you)
ENA
Europe
EGM
EIM
ENW
EPI
EEOS
EBS

Tracy
ETS
PGG
EREC

Agatha
EGAS

Dana
EES


-----Original Message-----
From: 	General Announcement/Corp/Enron@ENRON   On Behalf Of Enron General Announcements@ENRON
Sent:	Monday, December 17, 2001 2:05 PM
To:	All Enron Worldwide@ENRON
Subject:	ATTENTION: Changes in Remote Access

Please be aware that remote connectivity into the  Enron network has changed, IPASS is no longer available. Remote Connectivity into Enron may be obtained by using the eConnect solution.  Authorization to use eConnect may be requested via the eRequest system (you will find a link to eRequest on http://itcentral.enron.com).

Email is accessible from any computer with internet connectivity by logging into Outlook Web Access http:\\mail.enron.com with your NT login ID and password. Accessing OWA does not require an eConnect connection.

Please direct all questions or concerns to the Resolution Center at 713-853-1411
ETS customers should direct inquiries to the ETS Solution Center at 713-345-4745

We appreciate your cooperation in advance


Stan:

I spoke to Mike Miller regarding the opportunity in Enron Wind.  He is interested in the position and would be willing to meet with you as early as next Monday.  Mike can be reached at x36556 or his cell (713) 628-5958. Hope this helps.

Kevin


Just a note on Kaiser, the agreement we have in place has terrible credit,
and Bill Bradford w/Credit refuses to trade under it.  We are in the process
of replacing it with another.

	Craig Young
	11/01/2000 07:14 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Craig Young/NY/ECT@ECT, Justin Boyd/LON/ECT@ECT, David P
Tregar/EU/Enron@Enron, Marcelo Parra/NYC/MGUSA@MGUSA,
tj.pimpinelli@mglondon.com, Tana Jones/HOU/ECT@ECT, Eric Gadd/LON/ECT@ECT
		 Subject: Re: ISDA

Mark --- Tana was very helpful. Thank you for your help moving this issue
forwards.

We could use the following executed agreements:

Bethlehem  Steel
Kaiser
Alcoa
Tudor
U.S. Steel
Several Banks

You have about a dozen working agreements

Gen Electric/Honeywell/Allied Signal
Anheuser Busch
Bonneville
Emerson Electric
Falconbridge
Ford
Harvard
Hydro Quebec
LTV
Moore Capital
OK Tedi
Ormet
Phelps Dodge
Alcan
Trafigura

We can bring the following:

Catequil --- Fund/Old Tiger Team
Grupo Mexico/Southern Peru
Gen Motors
Vanalco
Coke
Pepsi
Ball
Crown Cork
Arco/BP
American National Can
BHP
Caxton-- Fund
Campbell -- Fund
Noranda
Perelli
Femsa -- Mexico
Commonwealth
Aluar
Michigan Ave Partners
Century Alum
Toyota
Southwire
Wabash

Justin ---- could you update us on legal structure, tax and regulation

Craig Young

From: Mark Taylor on 10/31/2000 06:30 PM
To: Craig Young/NY/ECT@ECT
cc:
Subject: Re: ISDA

Craig:

Sorry I couldn't get back to you earlier.  I  asked Tana Jones to get you
access to our database that keeps track of financial master agreement
negotiations so you will always be up to date on where we stand with the
process.  If you haven't heard from her, please let me know.  Any word from
Justin on which Enron entity we will use for trading in the U.S.?

Mark

	Craig Young
	10/31/2000 10:09 AM

		 To: Mark Taylor/HOU/ECT@ECT, Justin Boyd/LON/ECT@ECT
		 cc: Craig Young/NY/ECT@ECT
		 Subject: ISDA

As a start could you advise if we have an ISDA with the following firms

Coke
Pepsi
Anheuser Busch
Gen Motors
Ford
Mercedes Benz
Steel Companies
Metal Companies
Container Companies
Hedgd Funds
Emerson Electric
Hydro Quebec
Bonneville

Do we have a clearing house for global ISDA agreements?

Craig Young
212-715-2342


---------------------- Forwarded by Jeff Skilling/Corp/Enron on 03/06/2001
03:34 PM ---------------------------

Joe Gold@ECT
03/06/2001 04:25 PM
To: Jeff Skilling/Corp/Enron@ENRON
cc:

Subject: Your Voice Mail

Jeff,

Thanks for getting back to me.  You probably saved us quite a bit of time and
money.

It looks like half of the City of London has been duped into helping E.ON
fool its shareholders.  I wonder how many of their other sales were actually
auctions versus pre-arranged sales dressed up for the shareholders.

We will start our brainstorming sessions over again with a new rule - no
Germans!

Thanks again,

Joe


Jeff,

My sincere congratulations as regards your promotion.  Enron could not have
asked for two finer leaders than both you and Ken.  I am delighted to be a
part of the Enron team and look forward to reaching new heights of
achievement in 2001!

Dick
---------------------- Forwarded by Richard Leibert/HOU/EES on 12/13/2000
06:12 AM ---------------------------

Ken Lay@ENRON
12/13/2000 06:01 AM

Sent by: Enron Announcements@ENRON
To: All Enron Worldwide
cc:
Subject: Succession Plan

It is my great pleasure to announce that the Board has accepted my
recommendation to appoint Jeff Skilling as chief executive officer, effective
at the time of their next board meeting on February 12, 2001.  Jeff will also
retain his duties as president and chief operating officer.  I will continue
as chairman of the Board and will remain at Enron, working with Jeff on the
strategic direction of the company and our day-to-day global operations.

Jeff will assume the role at a time when the company is hitting on all
cylinders and is positioned for phenomenal growth.  He is clearly ready for
the job, and after 15 years as CEO of this great company, I,m ready for a
somewhat different role.

Our succession plan has been clear for some time.  This has afforded Jeff and
me the freedom to combine our strengths toward building a company that
continues to exceed everyone,s expectations, including our own.  We look
forward to furthering that relationship as Jeff expands his role.

There are no plans for any other changes in our management team nor broad
shifts in strategy and direction.

Please join me in congratulating Jeff.  I look forward to a great 2001.


Attached is a draft of the Declaration of Jeffery Fawcett.  If you have
comments, please let me know.

Susan Scott
Transwestern Pipeline Company
susan.scott@enron.com
(713) 853-0596


OK.  DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 12/11/2000
08:02 AM ---------------------------

DENISE LAGESSE
12/08/2000 12:20 PM
To: Drew Fossum/ET&S/Enron@ENRON
cc: Susan Scott/ET&S/Enron@ENRON

Subject: Susan's expense report 12-08-00

Please approve the attached expense report and forward it to accounting with
a cc: to me.  Sorry for the low amount ($37.83), but all expense reports need
to be in by the 13th of this month and this is all she has right now.  Thanks!


Jim Ebling ?has informed me that you are employed by ?Enron, are cleaning up
a few of their projects and ?might be in need of some additional resources
to
assist in this assignment. ?I might be able to help ?you.

I have worked in the Power Industry since ?1977 and, for 10 years or so,
specialized in the troubled projects, accelerating the
construction-commissioning cycle to complete the project and the subsequent
project ?close out inclusive of loss recovery work(s). ?This is inclusive of
?
arbitration, litigation and insurance recovery areas of BAR, expediting, DSU
and BII.

I am experienced in schedule analysis, identifying and assignment of time
delays, forensic research to support the facts, preparation of the as built
time line (delay schedule) and equally important are the associates,
networks
and relationships that i am affliated with, all of which are experts in
power
project problems. ?It may be beneficial for you to utilize my ?experience
with ?bad and troubled projects so that your efforts can be maximized and
efficient.

If you have an interest, please do not hesitate to contact me at
203-288-9492
or on my cellular at 832-654-5070. ???


NOTE FROM THE EDITORS
The AmeriFlash Newsletter would like to keep you informed on global wholesale
news as well, so we have added business highlights from Enron's original
electronic newsletter, GlobalFlash, which was created by Enron Europe.

"What's on your Mind?"
If you have ideas or suggestions please forward them to Michelle Vitrella or
Kathie Grabstald.

FINAL DAY FOR THE PULSE

Today is the final day to provide feedback through the annual employee survey
-- The Pulse.  As of Thursday morning, 56.5% of the ENA/EGM/EIM employees
have taken part in the survey, which is an improvement from last year's
participation rate of 49%.  However, we are behind the company average and
most of the other business units.  Please take a few minutes today to provide
much needed and confidential comments regarding Enron and your work
environment.  The Pulse survey is located on the Enron intranet at
survey.enron.com.

If you like competition, here is how the ENA/EGM/EIM participation rate
stacks up against the other business units:

Enron Energy Services 96.88%
Enron Wind  89.96%
Enron India  89.47%
Net Works  77.78%
EE&CC   73.88%
NEPCO   64.37%
Enron South America 63.74%
Corporate Staff  63.52%
Company Average 61.10%
ENA/EGM/EIM  56.50%
Enron Broadband 55.89%
ETS (formerly GPG) 55.52%
Enron Europe  44.36%
APACHI  29.66%

Log on to survey.enron.com and make your opinions known.

BUSINESS HIGHLIGHTS

OIL PRODUCTS
Congratulations to the US Oil Products Trading Team!  On October 4, 2000 they
successfully completed a deal with a volume of 2,400,000 barrels with a
Notional Value of $80,640,000.  This is the highest Notional Value associated
with an EOL trade.

Kudos again for another great deal. They have done another large
crack-spread, this time for 100,000 barrels per month for calendar 2001. This
trade notionally values out at over $40 million and is the second largest
transaction conducted to date on EOL.

STEEL
Steel Trading and Origination teams, headed by Greg Hermans and Tim
Battaglia, respectively, have already defined a Hot-Rolled coil financial
product.  The contract has been drafted and is currently being discussed with
customers.

Financial Hot Rolled Steel will be posted on EnronOnline, allowing the steel
industry to hedge their price exposure for the first time in history. The
access to hedging products will help the steel industry manage technicalities
and smooth cash flow.  Over time, forward price curves with transparent
pricing should allow the steel industry to also benefit from improved access
to capital.

The next challenge will be to educate the steel industry about financial
swaps and derivatives as risk management tools.  The $300 billion steel
market should provide an excellent growth opportunity for Enron.

PRINCIPAL INVESTMENTS
FuelCell Energy, Inc. recently announced that it has entered into an alliance
with ENA.  FuelCell Energy and Enron will work together to develop and market
FuelCell Energy's Direct FuelCellc (DFCc) products.  In connection with the
alliance, Enron has invested $5 million in the common stock of FuelCell
Energy.  Additionally, FuelCell Energy will issue warrants enabling Enron to
purchase up to 1.3 million shares of FuelCell Energy common stock.

Fuel cell developer Dais-Analytic Corp. also announced an alliance with ENA.
As part of this alliance, Enron has made an equity investment in
Dais-Analytic and will support market development, distribution and other
field services for Dais-Analytic's fuel cell, humidity control and related
products.

ENA RESEARCH GROUP
What does the FX and Sovereign Risk Group within ENA,s Research Department
do?  We provide forecasts of foreign exchange rates as well as revenue and
cost escalators corporate wide for project valuation.  We advise the FX and
interest rate desks on Central Bank policies of the G3.  In addition, we
provide sovereign risk analysis on countries important to Enron's various
business units upon request, as well as provide services related to the
global macroeconomic outlook.  Our sovereign risk analysis is used in the
development of the E-ratings in cooperation with the Risk Assessment and
Control Group.  We have recently developed a presentation on &Fundamentals of
Non-ferrous Metals8 as well as one on "Sovereign Risk8.  We also advise the
fundamental analysis group within Enron Global Markets.

What,s new from the Country Risk and Foreign Exchange Team? On October 13th,
2000, we launched a new product called the Enron &International Monitor,8 an
international economic review that will be published each Friday by the FX
and Sovereign Risk Group.  The purpose of this product is to inform the
foreign exchange traders as well as management about important international
economic events and their impact on currency and financial markets.  Special
emphasis is placed on potential central bank policy changes and the impact
these changes have on interest rates and currencies.  We also monitor other
key markets, with a special focus on oil, and its impact on consumer,
producer and equity prices. The International Monitor can be found on the ENA,
s web site, by accessing
http//ecthou-webcl1.nt.ect.enron.com/research/ForeignExchange/FXMain.htm.

Please email Leann Walton if you would like to receive the International
Monitor weekly by email, or if you would like us to email you the first two
issues.  Visit our web site at http://home.ect.enron.com/ - Select
Departments / Research.  You will find also many useful links to other web
sites here relevant to Enron,s businesses.

NEWS FROM GLOBALFLASH

Enron Launches Financial Plastics & Petrochemicals Derivatives on EnronOnline
Enron is to start trading a new range of financial swap contracts for the
plastics and petrochemicals industry on www.enrononline.com, the company,s
free, real-time Internet-based trading platform. This is the first time that
these derivative products, designed to help clients better manage the price
volatility which characterises the multi-billion dollar industry, have been
made available on the Internet in Europe.

Gas Deliveries in Germany
Since 1 October 2000, Enron has been the first and only non-incumbent player
to be able to serve customers within Germany by delivering gas to three local
utilities, those of Heidelberg, T_bingen, and Bensheim.  Carsten Haack who
closed the first deal with Heidelberg and was in charge of negotiation of the
transport did mention that the procedures are still complicated and lengthy
and that the terms and conditions for future agreements will need to be
easier, more transparent and standardised. Helge-J_rgen Beil from the
Frankfurt office who closed the gas deals with the municipalities of T_bingen
and Bensheim said that these deliveries are encouraging but do not guarantee
the future yet.   Another positive aspect is that Enron's continental gas
trading team was able to do the first gas trade within Germany with some of
the gas Heidelberg contracted for but could not take on.

Liquid Fuels Group Launches Tanker Freight Forwards
Scott Moncrieff, a director in the group, has with his team introduced tanker
freight forward contracts on to EnronOnline, to offer a standardised hedging
contract in today's highly volatile tanker market, currently worth in excess
of US$ 10 billion per annum.

And on the Dry-Side......
Pierre Aury, Chris Connelly and their team introduced a similar on-line
forward freight swap in June and to date, have traded contracts with a
notional value of US$ 8 million, equivalent to 20 million metric tonnes of
combined physical and financial contracts.  The routes are  from Colombia and
South Africa to Rotterdam, which are key routes for coal transport.

WELCOME

Transferred Into ENA/EIM/EGM
ENA ) Johnny R. Palmer/Staffing Resources, Anna Briggs/Principal Investing,
Carol Coats/Human Resources
EGM ) Andrea Hauser/US-GP Products Trading

New Hires ENA/EIM/EGM
ENA ) David Jones/East Origination, Marnie Lamb/Merchant Finance, Mathew-Joy
Noveena/Tax, Reynaldo Romero/Gas Assets Oper Mgmt, Mary Symes/West
Origination-Portland
EGM ) Brad Lawson/Financial Operations, Sandeep Ramachandran/Weather Trading

IN THE NEWS

&Enron delivered very strong earnings growth again this quarter, further
demonstrating the leading market positions in each of our major businesses,8
said Kenneth L. Lay, chairman and CEO of Enron. &Our wholesale and retail
energy businesses have achieved record-setting levels of physical deliveries,
contract originations and profitability. We operate in some of the largest
and fastest growing markets in the world, and we are very optimistic about
the continued strong outlook for our company.8  --- from Enron's 3rd Quarter
Earnings Press Release

NUGGETS & NOTES

&I,m looking for some high velocity capital.8  -  Brian Redmond,
President/HPL, Managing Director/Assets/Upstream Origination-ENA

&Can I get this NOW?8 - Gary Hickerson, Managing Director/Equity Trading-EGM

"I like the innovative ways that Enron does things. They take a refreshing
approach to the stagnant steel industry." - Kevin O'Donnell, Director/Steel
Trading

CONTEST

The cut off date for The Name This Newsletter Contest is Friday, November 3.
Keep the ideas coming!

TEASER

In your cellar there are three light switches in the OFF position. Each
switch controls 1 of 3 light bulbs on the floor above.  You may move any of
the switches but you may only go upstairs to inspect the bulbs one time.  How
can you determine the switch for each bulb with one inspection? Please send
answers to michelle.vitrella@enron.com, the winner will receive AMC Movie
passes.


this is a joke


-----Original Message-----
From: 	Nicolay, Christi L.
Sent:	Friday, September 07, 2001 10:11 AM
To:	Shapiro, Richard; Steffes, James D.; Robertson, Linda; Kaufman, Paul; Guerrero, Janel; Shelk, John; Novosel, Sarah; Hartsoe, Joe; Alvarez, Ray; Comnes, Alan; Nersesian, Carin; Walton, Steve; Perrino, Dave; Lindberg, Susan; Nord, Sue; Nichols, Douglas; HAWKE, STEVE; Kean, Steven J.; Migden, Janine
Subject:	Show Cause order info

Please provide comments on the draft show cause order by COB Monday 9/10.  There may be a revised version out later today with Steve W. and some other comments incorporated after yesterday's phone call.  Final draft should be ready Tues. or Wed. and we will have a conference call late Wed afternoon to finalize.  It can then be shopped at FERC (Linda/Sarah -- can you gather a list of who to contact at FERC?)  Also, Steve and Rick will take it to the Commissioner meetings on 9/17.

We want to have some press coverage when we file (Janel to handle?)
Paul is going to clear this with PGE deal folks
Paul needs to give a heads up to Western govs when we file
We can provide it the day before or day of filing to some groups:  Ideas
-EPSA
-ELCON, Steel group, etal. (filed this week to support FERC mandating a single Midwest RTO)
-Nat'l Rural Elec. Coop (Glenn English recently gave a speech requesting a fully integrated grid)
-These groups filed to make Alliance get an independent board (Janine-would they be helpful?):  Coalition of Midwest Transmission Customers, Industrial Energy Users-Ohio; WVa Energy Users Group; Assoc. of Businesses Advocating Tariff Equity; Citizens Action Coalition of Ind; Izaak Walton League of North America; Environmental Law and Policy Center
-Some coops and munis represented by Speigal and McDiarmid in DC and Miller Balis & ONeill in DC (EPMI signed on to their filing against the NC PUC's request for stay of the SE RTO mediation)

Contains Steve's comments                        << File: EnronReq-Notes(SLW).DOC >>          plus, we are changing the MBRs test to state that OATT is not enough to mitigate transmission market power -- need to agree to join RTO as finally ordered per 7/12 orders.  Thanks


Chris,

I sent Kevin proposed language on May 1st.  I have not heard anything from
him.

Stacy


All is fine with one exception.  Do not set up a product for the columbia
mainline

Thanks


---------------------- Forwarded by Susan Scott/ET&S/Enron on 12/08/2000
12:51 PM ---------------------------

"Tousey, Mary Lou" <mlt@cpuc.ca.gov> on 12/06/2000 05:32:18 PM
To: "'alan_reid@pcp.ca'" <alan_reid@pcp.ca>, "'andy.bettwy@swgas.com'"
<andy.bettwy@swgas.com>, "'aod@newsdata.com'" <aod@newsdata.com>,
"'askaff@energy-law-group.com'" <askaff@energy-law-group.com>,
"'bcragg@gmssr.com'" <bcragg@gmssr.com>, "'bjeider@ci.burbank.ca.us'"
<bjeider@ci.burbank.ca.us>, "'burkee@cts.com'" <burkee@cts.com>,
"'bwood@energy.state.ca.us'" <bwood@energy.state.ca.us>,
"'ceyap@earthlink.net'" <ceyap@earthlink.net>, "'chilen@llgm.com'"
<chilen@llgm.com>, "'chj@aelaw.com'" <chj@aelaw.com>,
"'chris.king@utility.com'" <chris.king@utility.com>,
"'chrisw@greenlining.org'" <chrisw@greenlining.org>, "'craigc@calpine.com'"
<craigc@calpine.com>, "'davef@abag.ca.gov'" <davef@abag.ca.gov>,
"'dcarroll@dbsr.com'" <dcarroll@dbsr.com>, "'ed@clfp.com'" <ed@clfp.com>,
"Farrar, Darwin" <edf@cpuc.ca.gov>, "'eke@aelaw.com'" <eke@aelaw.com>,
"'eklinkner@ci.pasadena.ca.us'" <eklinkner@ci.pasadena.ca.us>,
"'epoole@adplaw.com'" <epoole@adplaw.com>, "'evk1@pge.com'" <evk1@pge.com>,
"'ewo@jmbm.com'" <ewo@jmbm.com>, "Quan, Edwin" <eyq@cpuc.ca.gov>,
"'furutanj@efawest.navfac.navy.mil'" <furutanj@efawest.navfac.navy.mil>,
"'garyb@abag.ca.gov'" <garyb@abag.ca.gov>, "'ghinners@reliantenergy.com'"
<ghinners@reliantenergy.com>, "'grant_kolling@cerberus.city.palo-alto.ca.us'"
<grant_kolling@cerberus.city.palo-alto.ca.us>, "'gsullivan@sempra.com'"
<gsullivan@sempra.com>, "'gtbl@dynegy.com'" <gtbl@dynegy.com>,
"'haorndorff@aeraenergy.com'" <haorndorff@aeraenergy.com>, "'iep@iepa.com'"
<iep@iepa.com>, "'igsinc@ix.netcom.com'" <igsinc@ix.netcom.com>,
"'inggm@sce.com'" <inggm@sce.com>, "'jcattermole@pcenergy.com'"
<jcattermole@pcenergy.com>, "'jkarp@whitecase.com'" <jkarp@whitecase.com>,
"'jleslie@luce.com'" <jleslie@luce.com>, "'jmct@gmssr.com'" <jmct@gmssr.com>,
"'joe.paul@dynegy.com'" <joe.paul@dynegy.com>, "'johnj@bcjlaw.com'"
<johnj@bcjlaw.com>, "'johnwalley@swgas.com'" <johnwalley@swgas.com>,
"'joseh@lif.org'" <joseh@lif.org>, "'jsteffen@iid.com'" <jsteffen@iid.com>,
"Wong, John S." <jsw@cpuc.ca.gov>, "'jtachera@energy.state.ca.us'"
<jtachera@energy.state.ca.us>, "'jweil@aglet.org'" <jweil@aglet.org>,
"'jwr@cpuc.ca.gov'" <jwr@cpuc.ca.gov>, "'karen@klindh.com'"
<karen@klindh.com>, "'kbhensman@aeraenergy.com'" <kbhensman@aeraenergy.com>,
"'kfyip@seiworldwide.com'" <kfyip@seiworldwide.com>, "'kmccrea@sablaw.com'"
<kmccrea@sablaw.com>, "'kmills@cfbf.com'" <kmills@cfbf.com>,
"'lindseyhowdowning@dwt.com'" <lindseyhowdowning@dwt.com>,
"'lmh@eslawfirm.com'" <lmh@eslawfirm.com>, "Tran, Lana" <ltt@cpuc.ca.gov>,
"'marcel@turn.org'" <marcel@turn.org>, "'mark.c.moench@wgp.twc.com'"
<mark.c.moench@wgp.twc.com>, "McNamara, Michael D." <mcn@cpuc.ca.gov>,
"'mday@gmssr.com'" <mday@gmssr.com>, "'mdjoseph@adamsbroadwell.com'"
<mdjoseph@adamsbroadwell.com>, "Stevens, Maria E." <mer@cpuc.ca.gov>,
"'mjaske@energy.state.ca.us'" <mjaske@energy.state.ca.us>,
"'napedersen@jonesday.com'" <napedersen@jonesday.com>, "'pjpowerlaw@aol.com'"
<pjpowerlaw@aol.com>, "Gileau, Patrick L." <plg@cpuc.ca.gov>,
"'porterdk@sce.com'" <porterdk@sce.com>, "Myers, Richard A."
<ram@cpuc.ca.gov>, "'raveen_maan@cerberus.city.palo-alto.ca.us'"
<raveen_maan@cerberus.city.palo-alto.ca.us>, "White, Rosalina"
<raw@cpuc.ca.gov>, "'rbw@mrwassoc.com'" <rbw@mrwassoc.com>,
"'rczahar@aol.com'" <rczahar@aol.com>, "'rfoss@coral-energy.com'"
<rfoss@coral-energy.com>, "'rgloistein@orrick.com'" <rgloistein@orrick.com>,
"'rick.counihan@greenmountain.com'" <rick.counihan@greenmountain.com>,
"Pocta, Robert M." <rmp@cpuc.ca.gov>, "'rochmanm@cubjpa.org'"
<rochmanm@cubjpa.org>, "'roger.pelote@williams.com'"
<roger.pelote@williams.com>, "'ron_oechsler@rmiinc.com'"
<ron_oechsler@rmiinc.com>, "'ronknecht@aol.com'" <ronknecht@aol.com>,
"'rpetti@ladwp.com'" <rpetti@ladwp.com>, "'salleyoo@dwt.com'"
<salleyoo@dwt.com>, "Sarvate, Sarita" <sbs@cpuc.ca.gov>,
"'skatz@sempratrading.com'" <skatz@sempratrading.com>,
"'slins@ci.glendale.ca.us'" <slins@ci.glendale.ca.us>, "'sscott3@enron.com'"
<sscott3@enron.com>, "'stomashe@energy.state.ca.us'"
<stomashe@energy.state.ca.us>, "Horner, Trina" <tah@cpuc.ca.gov>,
"'tdickers@westerngas.com'" <tdickers@westerngas.com>,
"'thompson@wrightlaw.com'" <thompson@wrightlaw.com>, "'tom.roth@et.pge.com'"
<tom.roth@et.pge.com>, "'tomb@crossborderenergy.com'"
<tomb@crossborderenergy.com>, "'trdill@westernhubs.com'"
<trdill@westernhubs.com>, "Beck, Valerie" <vjb@cpuc.ca.gov>
cc: "Krannawitter, Laura L." <llk@cpuc.ca.gov>, "Biren, Andrea"
<alb@cpuc.ca.gov>, Docket Office <dkt@cpuc.ca.gov>

Subject: ALL-PARTY MEETING NOTICE - CMR DUQUE - 12/12/00 - I.99-07-003

? <<AllPartycema.doc>>

 - AllPartycema.doc


I got a form that consultants sign, and I'll compare them.

Kay

From: Gregg Penman on 03/30/2001 01:08 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: FW: Form B

Here is the "Form B" that every employee signs.  I am not sure how helpful
this will be, but I wanted to make sure that whatever we ask the Enron
employees to sign is consistent, or at least not in conflict with, what they
have already signed.

Thanks - Gregg

----- Forwarded by Gregg Penman/Corp/Enron on 03/30/2001 01:07 PM -----

	Jeanie Slone/ENRON@enronXgate
	03/30/2001 10:52 AM

		 To: Gregg Penman/HOU/ECT@ECT
		 cc:
		 Subject: FW: Form B

per my voice mail.

 -----Original Message-----
From:  Sweet, Twanda
Sent: Friday, March 30, 2001 11:51
To: Slone, Jeanie
Subject: Form B

Twanda Sweet
Enron North America Corp.
EB3822
(713) 853-9402
twanda.sweet@enron.com


dear darlings, this all sounds dreamy to moi... yayayayayayayayayy!

-----Original Message-----
From: Prentice Sellers [mailto:psellers@pacbell.net]
Sent: Tuesday, June 12, 2001 2:55 PM
To: Molly Coffin; Jeff.Dasovich@enron.com; 'Scott Laughlin'; Colleen
Silva
Subject: RE: Domaine

This is what I think the deal is.  The boys have to take two cars cause
there will be six of us on the way back.  I think Scott and Molly (the
creative, non-9-5 types) are going to drive together and try to leave before
traffic on Friday (i.e., before 2 p.m.).  My guess is that then Colleen and
Jeff (the creative-but-not-giving-up-their-day-job types) are going to drive
together and leave after traffic. (i.e., after 7 p.m.).  This scenario,
however, is all my own deductive reasoning and could easily be WRONG.  I
expect we will know more after tonight...

-----Original Message-----
From: Colleen Silva [mailto:Csilva@redsky.com]
Sent: Tuesday, June 12, 2001 1:01 PM
To: 'Scott Laughlin'; 'PP'; 'Jeff.Dasovich@enron.com'
Subject: RE: Domaine

hey boys am i driving with you on friday and if so what time'er ya leaving?

-----Original Message-----
From: Cameron Sellers [mailto:cameron@perfect.com]
Sent: Tuesday, June 12, 2001 12:04 PM
To: 'Colleen Silva (RedSky)'; 'Molly Coffin (Hotmail)'; 'Scott
Laughlin'; 'PP'; 'Jeff.Dasovich@enron.com'
Subject: FW: Domaine

We usually stop in Napa on the way back from the festival for an early
dinner and relaxing before heading back to the city.  So, don't forget to
bring your bathing suits with you so you can swim and stuff.

See you all up there.  Wish me luck flying with Prentice at the
controls!!!!!

-C

-----Original Message-----
From: Nancy Sellers [mailto:Nancy.Sellers@RobertMondavi.com]
Sent: Tuesday, June 12, 2001 10:14 AM
To: 'Cameron Sellers'
Subject: RE: Domaine

Good - tell them to bring their swimming suits.  We'll also have volleyball,
croquet, ping pong and bocce (just kidding)
-----Original Message-----
From: Cameron Sellers [mailto:cameron@perfect.com]
Sent: Tuesday, June 12, 2001 10:06 AM
To: 'Nancy Sellers'
Subject: RE: Domaine

There will probably be 6 of us (the four + molly and colleen)
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)

-----Original Message-----
From: Nancy Sellers [mailto:Nancy.Sellers@RobertMondavi.com]
Sent: Tuesday, June 12, 2001 10:02 AM
To: 'Cameron Sellers'
Subject: RE: Domaine

The one with the lavender sauce - I sure do - and I even have fresh lavender
in the garden.  How many people?
-----Original Message-----
From: Cameron Sellers [mailto:cameron@perfect.com]
Sent: Tuesday, June 12, 2001 9:53 AM
To: 'Nancy Sellers'
Subject: RE: Domaine

Something with polenta.  How about the pork chop we made before.  Do you
still have that recipe??
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)

-----Original Message-----
From: Nancy Sellers [mailto:Nancy.Sellers@RobertMondavi.com]
Sent: Tuesday, June 12, 2001 8:12 AM
To: 'Cameron Sellers'
Subject: RE: Domaine

of course you  can what would you like to fix
-----Original Message-----
From: Cameron Sellers [mailto:cameron@perfect.com]
Sent: Monday, June 11, 2001 3:46 PM
To: 'Nancy Sellers'
Subject: RE: Domaine

Not sure which pictures I want - I just thought some of them were pretty
good.  I'll have to figure it out.
I think you are going to see us sometime.  We usually stop by Napa on our
way back from the festival this weekend.  Will you be around - can we do our
Sunday dinner in Napa??
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)

-----Original Message-----
From: Nancy Sellers [mailto:Nancy.Sellers@RobertMondavi.com]
Sent: Monday, June 11, 2001 2:37 PM
To: 'Cameron Sellers'
Subject: RE: Domaine

I sent some to Linda - which ones do you want?  Am I ever going to see you
again?
-----Original Message-----
From: Cameron Sellers [mailto:cameron@perfect.com]
Sent: Monday, June 11, 2001 1:33 PM
To: 'Nancy Sellers'
Subject: RE: Domaine

They were great pictures!!  I want some copies ok??
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)

-----Original Message-----
From: Nancy Sellers [mailto:Nancy.Sellers@RobertMondavi.com]
Sent: Monday, June 11, 2001 11:17 AM
To: 'Cameron Sellers'
Subject: RE: Domaine

Did you get the pix from your birthday?
-----Original Message-----
From: Cameron Sellers [mailto:cameron@perfect.com]
Sent: Monday, June 11, 2001 11:06 AM
To: 'Nancy Sellers'
Subject: RE: Domaine

I'll get a case.  Thanks!
Cameron Sellers
Vice President, Business Development
PERFECT
1860 Embarcadero Road - Suite 210
Palo Alto, CA 94303
cameron@perfect.com
650.798.3366 (direct dial)
650.269.3366 (cell)
650.858.1095 (fax)

-----Original Message-----
From: Nancy Sellers [mailto:Nancy.Sellers@RobertMondavi.com]
Sent: Monday, June 04, 2001 3:23 PM
To: 'DAVE BAILEY'; Marta Rich; Cindy Milani; James Cravy; Tim McDaniel;
Kevin Zeigler; Debi Best; 'Eldon Sellers'; Barrie Eddy; Carol
Frommelt;
Cindy Nagy; Karen O'Neill; Kathy Allen; Linda Rominger; Nancy
Sellers; Peggy
Hammett; Sarah deSilva; Tersilla; Cameron; Jeff Dasovich; Prentice @
Berkeley; Prentice Sellers; Scott Laughlin
Subject: Domaine

I am going to order some more Domaine on June 25.   If you want any more,
please put a check in the mail to me for $64.50 a case so that I receive it
by June 25.  I am only going to order whole cases this time.  Depending on
the number of cases, delivery will probably be on June 28.   Thanks.

Nancy
(707) 251-4870 (phone)
(707) 265-5446 (fax)
"Plus je bois, mieux je chante"


As we spoke about by phone, here is the nomination, Thanks. <<CALPINE DAILY
GAS NOMINATION 1.doc>>

 - CALPINE DAILY GAS NOMINATION 1.doc


Kim,

Thanx for your help with my parking problem. I will contact Louis and
hopefully he can take care of it. Can you give me a call sometime Tuesday
afternoon. I have some ?'s about the 401K and savings plans.

Thanx

Chris


Christian:

Could we meet for 15-30 minutes to go over the cases listed in section 3 this
afternoon?

Alan Comnes
---------------------- Forwarded by Alan Comnes/PDX/ECT on 03/15/2001 11:32
AM ---------------------------
From: James D Steffes@ENRON on 03/14/2001 08:23 AM CST
To: Joe Hartsoe/Corp/Enron@ENRON, Susan J Mara/NA/Enron, Mary
Hain/HOU/ECT@ECT, Alan Comnes/PDX/ECT@ECT, Steve Walton/HOU/ECT@ECT
cc:

Subject: Status of California Cases

FYI.

Jim

----- Forwarded by James D Steffes/NA/Enron on 03/14/2001 08:22 AM -----

	"Ronald Carroll" <rcarroll@bracepatt.com>
	03/13/2001 05:08 PM

		 To: <jsteffe@enron.com>, <rsanders@enron.com>
		 cc: "Andrea Settanni" <asettanni@bracepatt.com>, "Jeffrey Watkiss"
<dwatkiss@bracepatt.com>, "Kimberly Curry" <kcurry@bracepatt.com>,
<jhartso@enron.com>, <mary.hain@enron.com>, <smara@enron.com>
		 Subject: Status of California Cases

Jim/Richard:

Per your request, I have attached a memo that describes the status of Enron's
participation in cases concerning the California investigation and related
market issues established since FERC's December 15, 2000 order, including
cases for which the date for intervention has not yet passed.  Please call me
if you wish to discuss or have any questions.

Ron

 - 0139365.01


Attached are more permit matrix suggestions (real estate) made available to
Reagan Rorschach on Permitting matters.  Bill Lane of Kilpatrick Stockton
called earlier with Environmental permit input and I passed that input on the
Reagan. I have a good comfort level about the accuracy and depth of the
Permitting/Regulatory Due Diligence effort at this point.

Outstanding Regulatory Items on my "To Do" List are to (i) finalize the EWG
Application and get it filed with the FERC; (ii) inquire about the need for
and mechanics of getting a Power Marketer Certificate for North Carolina
Power Holdings, LLC or for the two LLCs that is acquiring and (iii) receive
feedback from Bracewell and Patterson on Regean's Permit Matrix.

I will be forwarding my comments on the DASH to Dwight by  4:00 p.m. this
afternoon.  I have scheduled a meeting with Mark Haedicke for 10:00 a.m. on
Tuesday, January 9 to review my Risk Memo and the DASH prior to Dave
Delainey's return to Houston.

More Updates later,

Steve

----- Forwarded by Steve Van Hooser/HOU/ECT on 01/05/2001 01:40 PM -----

	"Duncan, Allyson" <ADuncan@KilpatrickStockton.com>
	01/05/2001 10:43 AM

		 To: "'Steve.Van.Hooser@enron.com'" <Steve.Van.Hooser@enron.com>,
"'Reagan.Rorschach@enron.com'" <Reagan.Rorschach@enron.com>
		 cc:
		 Subject: FW: Permits for Cogentrix Plants; #247747

Comments from the real estate attorney.  Please let me know if you want
clarification of follow up.  None of the things he mentions are of the
shut-down magnitude type, even if you do ultimately need them.

-----Original Message-----
From: Benson, Jeff
Sent: Friday, January 05, 2001 11:21 AM
To: Duncan, Allyson
Subject: RE: Permits for Cogentrix Plants; #247747

Allyson -

Assuming that we're just taking over an existing permitted facility, I do
not think that there are additional necessary real estate permits. There are
a few thoughts that may or may not be applicable, depending on what is
planned at the facility.

- If there is an elevator at the facility, they are permitted by the
Department of Labor.  The client will need to notify the Department of name
change and will then the elevator(s) will be inspected in the normal course
and licensed under our client's name.

- It is my understanding that there will not be construction activities - if
this is incorrect, our client will need (a)land disturbance (also called
grading) permit, (b) building permit. Upon completion, any new construction
would receive certificate of occupancy.

- I don't think they are planning subdivision but any subdivision
contemplated for the property would require applicable city/county
approvals.  The nature of those approvals would depend on the circumstances.

Jeffrey A. Benson
Kilpatrick Stockton LLP
3737 Glenwood  Ave., Suite 400
Raleigh, NC 27612
Ph: 919-420-1773
Fx: 919-420-1800

-----Original Message-----
From: Duncan, Allyson
Sent: Friday, January 05, 2001 9:43 AM
To: Lane, Bill; Benson, Jeff
Subject: FW: Permits for Cogentrix Plants; #247747

Could you please take a look at the attached matrix and see if you can think
of any other licenses and permits that could arisse that would shut down
this facililty?  As usual with things involving Enron, they want it right
away.  Thanks.

-----Original Message-----
From: Steve.Van.Hooser@enron.com [mailto:Steve.Van.Hooser@enron.com]
Sent: Thursday, January 04, 2001 4:52 PM
To: aduncan@kilstock.com; blane@kilstock.com; cthompson@bracepatt.com
Cc: Reagan.Rorschach@enron.com; Dwight.Beach@enron.com
Subject: Permits for Cogentrix Plants

Allyson, Bill and Clark:

Following up on my e:mail to Allyson of yesterday, I am forwarding a more
complete permit listing prepared by Reagan Rorchach of Enron's Power
Development Group.  I would appreciate your reviewing the attached with an
eye toward any customary permits that appear to missing.

Please give me a call as soon as possible.

I plan to meet with Reagan tomorrow morning on this work product.

Thanks,

Steve

----- Forwarded by Steve Van Hooser/HOU/ECT on 01/04/2001 03:12 PM -----

                    Reagan

                    Rorschach@ENR        To:     Steve Van
Hooser/HOU/ECT@ECT, Dwight Beach/HOU/ECT@ECT, Glenn
                    ON                   Wright/Corp/Enron@ENRON, Heather
Kroll/HOU/ECT@ECT, Ozzie
                                         Pagan/HOU/ECT@ECT, Fred
Mitro/HOU/ECT@ECT, Dave Kellermeyer/HOU/ECT@ECT
                    01/04/2001           cc:

                    03:01 PM             Subject:     Permit Issues

Attached is the most recent permit matrix (see the second tab of the
spreadsheet).  I still have some outstanding issues as some phone calls
have not been returned.  I expect those to be resolved tommorrow.  If you
can think of anything else, please let me know, and I'll take care of it.

Issues requiring action are bolded in red in the spreadsheet.  Brief
summary--

   I cannot find record of a stormwater permit for the coal handling
   facility.  I think they need one, Dave K.??
   I need to know how tall the stacks are at each plant.  If they are under
   200 feet, they may not be regulated.  However, we should examine the FAA
   notifying criteria (height and location) to evaluate compliance.
   Are there any antennae or transmitters on the stacks?  FCC permits will
   be involved (or need to be) if they do.
   Is the coal handling facility in the Lumberton city limits?  I am
   getting conflicting reports on this from the locals.

Lastly, I have not asked for written confirmation for any of the
information gathered so far.  If we need it; however, I can get it.

Please review and comment.

Thanks,

Reagan Rorschach
x5.3363

(See attached file: Alamac Permit Matrix.xls)


Samantha Boyd had a death in her family early this morning and I do not know
when she will return to work.  I do not know her computer password she is
working on time sensitive documents with correspondence being done through
email.  Please reset her computer password and lotus notes password so I may
access the correspondence.  Please notify me of the new passwords.

Thank you,

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


Dear Sara,

I am attaching the long form confirm re a deal which we did yesterday  - small, but our office's first yen based crude transaction!

The yen-USD forex however was done through ENA and needs to be documented.  ENA will also be providing these services to EJ (through our metals desk) moving forward so we need a master agreement in place.

Alan suggested you may be able to assist with a form of document that would work in this situation.  The only requirement from EJ's perspective is that it be effective from yesterday, Oct 11, 2001.

If you need more information about the forex arrangements we have with ENA, Sheila / Jan Erland may be able to assist.

Otherwise, if you were able to get a draft together, I will run it by Susan Musch and Jan-Erland, and get it signed up.

Thanks Sara.

Jane McBride

Ps. I didn't make it to the GM Legal Conference this time but hope it went well and to see you in May.


most bullish thing at this point is moving closer to everyone's
psychological $4 price target and that everybody and their dog is still
short.  next sellers need to be from producer community.  saw a little this
week with williams hedging the barrett transaction but wouldnt say thats
indicative of the rest of the e&p community.  short covering rallies will
get more common here.  velocity of move down has slowed significantly for
good (except maybe in bid week).  my concern is if we go to $4 and people
want to cover some shorts, who's selling it to them?  might feel a lot like
it did when we were trying to break $5.


Hal, as per our discussion here are the Logistics people that will be
dedicated to the ENom development:

Key subject experts:

The Logistics managers for each of the various regions will be the key
subject expert and will pull in the added resources (individual pipeline
schedulers) for the really detailed work. As far as time dedicated we will
commit to as much time as needed with the understanding that these
individuals do have the responsibility for managing all of the scheduling
activity in their regions. Bottom line is during bid-week and when
emergencies develop they will be needed at their trading desks. All meetings
with these individuals should be scheduled for the afternoon.

Kathy Kelly - Northeast
Ed Terry - Southeast
Randy Gay - West
George Smith - Central
Darren Farmer - Texas

Project Steering Team:

Bob Superty
Randy Gay
George Smith

As discussed we might have to bring in others when the product starts to take
shape and is impacting other areas (Global for example)

I look forward to our next meeting, thanks - Bob x30957


We have received an executed First Amendment to ISDA Master Agreement by and
between Sacramento Municipal Utility District and Enron North America Corp.
dated effective as of April 26, 2001, which attaches a Credit Support Annex
to the existing Master Areement and amends certain other provisions in the
Schedule.

Copies will be distributed.

Stephanie Panus


Start Date: 10/17/01; HourAhead hour: 11;  HourAhead schedule download failed. Manual intervention required.


After speaking with Sen. Hagel and his staff, it was suggested that Ken Lay
call Sen. Nickles in order to encourage the Senator to act on the Commodities
legislation. If possible, the call should take place today.  Cynthia has
alerted Sen. Nickles staff that a call may be coming.  Cynthia met with the
Senator's staff this morning and they do not seem to be following the bill.

Our understanding of the situation is as follows:

1.  Lengthy negotiations with Gramm's staff went late into the night in order
to find solutions to Gramm's issues.  We understand that 7 changes were
offered (which Sen Hagel's staff  regarded as reasonable), but all were
rejected by Sen. Gramm.  Gramm's staff must clear all changes directly with
the Senator.

2.  Our understanding is that the House intends to attach the Bill to the
last veto proof appropriations bill which it will send to the Senate, making
it difficult for Gramm to kill the bill.  The session may last until early
Sunday morning.

3.  If the Bill is passed in this fashion, Sen. Gramm will have an
opportunity to address his remaining issues in a technical corrections bill
during the next Congress - changes that most of the Senators would support.

4.  There are still negotiations taking place to reslove some of the major
issues.  We understand that the Chicago Exchanges are involved in these
discussions.  We are not sure whether these changes will be added to the bill
that may be sent over to the Senate by the House.

We will update you as soon as we learn more.


Christian,

Our Spring/Fall window of "<nactivity"is rapidly eluding us...

We need to get our internal model operational without delay.

Along these lines, let's go ahead and plan your visit to Houston as soon as
possible,
but by all means get you in at least 4 weeks before hurricane season.

That would mean the month of May looks good.

Please inform me what duties you could not perform from here to support the
Sydney office,
we'll figure out how to keep that office whole.

(it's working without a hitch to have Steve Bennett in London, but continuing
his Houston duties)

If the first week in May (for the whole month) will work, please respond asap
and we'll get housing arrangements finalized.

Looking forward to your visit,

- - - Mike


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 04/26/2000
08:36 AM ---------------------------

TIM HEIZENRADER
04/25/2000 11:43 AM
To: Jim Fallon/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT
cc: Tim Belden/HOU/ECT@ECT
Subject: Western Strategy Session Materials

Today's charts are attached:


my printer just froze, and I want to look at the doc to finish the
reorganization.  Could you pretty please fax me the first 14 pages (I have
the last).  Also, could you look at the stuff I've highlighted in yellow.

I haven't put all your comments in, but I will in a minute.  Don't get
discouraged, the draft is closer to finished than it looks, it is just the
changes are in my head.  It won't take too terribly long now.

I've set up the exhibits as a separate document to make it easier to move
around the doc.

I think it would be kind of strange to send a draft without the most basic of
commercial terms included.  Stranger things have happened of course!

Many thanks.

Kay


I think this is the best way to look at these. Deal ticket is below. Call
when you can.


fyi
----- Forwarded by Elizabeth Sager/HOU/ECT on 01/22/2001 12:00 PM -----

	"JOHN G KLAUBERG" <JKLAUBER@LLGM.COM>
	01/22/2001 11:29 AM

		 To: <Elizabeth.Sager@enron.com>
		 cc:
		 Subject: Fwd: Negative CTC

fyi

"This e-mail, including attachments, contains information that is
confidential and it may be protected by the attorney/client or other
privileges.  This e-mail, including attachments, constitutes non-public
information intended to be conveyed only to the designated recipient(s).  If
you are not an intended recipient, please delete this e-mail, including
attachments and notify me by return mail, e-mail or by phone at 212
424-8125.  The unauthorized use, dissemination, distribution or reproduction
of the e-mail, including attachments, is prohibited and may be unlawful.

John Klauberg
LeBoeuf, Lamb, Greene & MacRae, L.L.P.
212 424-8125
jklauber@llgm.com
Date: Sun, 21 Jan 2001 21:10:41 -0500
From: "JOHN G KLAUBERG" <JKLAUBER@LLGM.COM>
To: "Mike Smith" <Mike_D_Smith@enron.com>, "Robert Williams"
<Robert.C.Williams@enron.com>, "Vicki Sharp" <vsharp@enron.com>
Cc: "Mike Day" <mday@gmssr.com>
Subject: Negative CTC
Mime-Version: 1.0
Content-Type: multipart/mixed; boundary="=_B8E3E3EB.DBBA8A0E"

Vicki, Mike & Bob:  Attached is the revised summary of the negative CTC
issues/positions/exposure items etc. reflecting the comments of Mike Day.  It
is somewhat longer than I hoped, but it seemed to make sense to list all of
these various items so that they are all on the table as we make decisions
going forward.  Could you please distribute to whoever else should get this.
Please call me if you have any questions.  John

"This e-mail, including attachments, contains information that is
confidential and it may be protected by the attorney/client or other
privileges.  This e-mail, including attachments, constitutes non-public
information intended to be conveyed only to the designated recipient(s).  If
you are not an intended recipient, please delete this e-mail, including
attachments and notify me by return mail, e-mail or by phone at 212
424-8125.  The unauthorized use, dissemination, distribution or reproduction
of the e-mail, including attachments, is prohibited and may be unlawful.

John Klauberg
LeBoeuf, Lamb, Greene & MacRae, L.L.P.
212 424-8125
jklauber@llgm.com

 - ctc.doc


It seems that there are only a few issues for me to respond as to and these
are below.  You can handle the rest, I think.  Also, he jumped on the L/C
removal language that we discussed.

[references are to numbered paragraphs below]
(2)  OK
(5)  Did you ever receive a response from Rhett?
(7)  Per already responded to you.  Please find out if CP has Cayman counsel.
(11)  These are two separate issues.  Short of a conversation, it sounds like
he is confusing payments on Early Termination with consequential damages.
The former will capture unpaid premiums in the event of an Early Termination
based upon failure to pay.
(12)  Need to be consistent for both parties.
(14)  Is he right?
(15)  Verify with Rod.
(17)  I think I reviewed this point already, didn't I?
(19)  Check with Rod and I'll also review.

From: Susan Flynn on 05/09/2000 08:19 AM
To: Per Sekse/NY/ECT@ECT, Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Re: ISDA with The Ospraie Portfolio Ltd.

 See Tudo's comments to our revised draft of the ISDA below.

----- Forwarded by Susan Flynn/HOU/ECT on 05/09/2000 08:19 AM -----

	"Daniel A Harris" <dharris@shearman.com>
	05/09/2000 05:47 AM

		 To: "Susan Flynn" <Susan.Flynn@enron.com>
		 cc:
		 Subject: Re: ISDA with The Ospraie Portfolio Ltd.

Susan,

Thank you for the revised drafts. My comments are as follows:

(1) Please date the Master Agreement as of February 1, 2000.

(2) Part 1(a) -Specified Entities. As Enron Corp guarantees the performance of
Enron NAC's obligations under the Agreement, please add the words "Enron Corp,
but only to the extent that Enron Corp is a Credit Support Provider". This
seems
reasonable.

(3) Please re-number the pages so that the Schedule starts on page 19 and the
Paragraph 13 starts on page 11.

(4) Part 1(e) - Payments on Early Termination. I am checking with Tudor as to
whether they are agreeable to Loss for trades going out beyond two years. I
would say, however, that I am not aware that they have agreed to this with any
other counterparty. That said, Per's point that the trades are much shorter
than
this is noted.

(5) Part 2(b) - Payee tax reps. Ospraie never makes payee tax reps other than
relating to its place of incorporation.  If this is an important point for
you,
I will get out tax group involved.  However, Tudor prefers that neither party
makes payee tax reps.

(6) Part 3(b) - Documents to be Delivered.  Party B annual financials - should
read "... 120 days after the end of its fiscal year".

(7) Part 3(b) - legal opinion. Please confirm that you will pay the costs of
Cayman counsel.

(8) Part 4(h) - Jurisdiction.  I am checking with Tudor as "any court" is much
broader than the non-exclusive jurisdiction of the NY courts.

(9) Part 5(b)(g) - Commercial User rep. Tudor cannot make this rep. Please
replace with the following: "Party A represents, with respect to Options, that
it is a producer, processor, commercial user of, or merchant handling, the
commodity subject to the Transaction or the products or byproducts thereof,
and
is entering into each Option Transaction solely for purposes related to its
business as such".

(10) Part 5(f) - Procedures for Entering into Transactions. Please remove the
word "deemed" in the last line. This is no longer relevant.

(11) Part 5(i). I am checking with Tudor. Is the "no consequential damages"
consistent with Part 7 which expressly provides for the payment of out of
pocket
expenses, the costs of a delta hedge etc. on non-payment of premium in a
currency option?

(12) Part 5(k) - Transfer.  For the part of the paragraph relating to Party A,
please change the proviso to read "and provided that such transfer will not
give
rise to adverse tax consequences to Party B or to a Termination Event or an
Event of Default, and the proposed transfer would not adversely affect Party
B's
existing netting or set-off rights or under applicable law".  The part of the
paragraph relating to Party B should provide: "Party B may transfer its rights
and obligations under this Agreement with the prior written consent of Party
A,
such consent not to be unreasonably withheld."  These amendments are intended
to
be reasonable and fair to both sides.

(13) Part 6 - line 2 "Definitions" - typo.

(14) Part 7(b) - please remove the reference to "ISDA". The FX Definitions are
previously defined in Part 5(e).

(15) Para 13(b)(ii). Please include longer term Treasuries. My understanding
is
that this is what has been agreed, but please let me know if this is not your
understanding and I will check with Tudor.

(16) Para 13 (b)(iii). Please remove the reference to L/Cs.

(17) Para 13(d) - Specified Condition (Tax Event) should refer to Section
6(b)(ii) and Specified Condition (TEUM) should refer to Section 6(b)(iii).

(18) Para 13(g). I will check with Tudor.

(19) Para 13(g). I think references to "Downgraded Party" and "Credit Rating
Event" are inappropriate. Please clarify. Is there any way you will agree to
the
provisions of Paragraph 6(c) without more? What seems to be important is that
the Secured Party is not a Defaulting Party - i.e. Para 13(g)(i)(1) (not (2)).
This is consistent with Para 6(c) of the pre-printed form. Para 13(h) is
related
to this issue.

(20) Para 13(i) and (j) - please remove. L/C-related provisions are no longer
relevant.

I look forward to receving revised drafts of the Schedule, Paragraph 13 and
guarantee in due course.

Kind regards.

"Susan Flynn" <Susan.Flynn@enron.com> on 09/05/2000 01:18:56

To:   Daniel A Harris/LN/EU/ShS@ShSDOMAIN
cc:   "Per Sekse" <Per.Sekse@enron.com>, "Sara Shackleton"
      <Sara.Shackleton@enron.com>

Subject:  ISDA with The Ospraie Portfolio Ltd.

     Please the attached letter, revised draft of the ISDA Schedule and Credit
Support Annex, and redline of the ISDA Schedule and Credit Support Annex
marked
to show the changes made from the previous version.

(See attached file: 164ltr.doc)

(See attached file: 347ctr-a.doc)

(See attached file: 347CTR-A(RED).DOC)

 - 164ltr.doc
 - 347ctr-a.doc
 - 347CTR-A(RED).DOC


My flowers have not been delivered.  Could you please tell me when they will
be delivered?
Thanks,

Eric Bass

"FTD.COM Customer Service" <direct@hpftd1.ftdi.com> on 02/07/2001 04:29:10 PM
To: ebass@enron.com
cc:
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FYI -- David Leboe in Investor Relations authored the attachment.
-

---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 07/06/2001
03:54 PM ---------------------------
From: Greg Caudell/ENRON@enronXgate on 07/02/2001 01:53 PM
To: Christi L Nicolay/HOU/ECT@ECT
cc:

Subject: Check this...

I incorporated some comments and info provided by IR.


still deficit gas demand scenario...

EarthSat's view similar...


I know we have moved this meeting already, but since I have very little info ( only what I read on Yahoo!)
I think we should wait till next week to meet.  So I am going to cancel.

I have given Leslie, Jeff , Stacey and Rita,  Enron BUCKS cards.  Make them buy you a drink.

Let me know if you hear anything.

Thanks for you patients and continued understanding.

bob