no crap, what's your bid?

"Eva Pao" <epao@mba2002.hbs.edu> on 05/13/2001 12:48:23 AM
Please respond to <epao@mba2002.hbs.edu>
To: <John.Arnold@enron.com>
cc:
Subject: Extra credit

break even on info ass-symetry is 100%, any project above that level is
profitable to Pooks&Co.

-----Original Message-----
From: John.Arnold@enron.com [mailto:John.Arnold@enron.com]
Sent: Sunday, May 13, 2001 1:04 AM
To: epao@mba2002.hbs.edu
Subject: RE: try this one...

For extra credit....
If the company is worth 150% more under management A rather than 50% more,
does your answer change?

"Eva Pao" <epao@mba2002.hbs.edu> on 05/11/2001 05:13:59 PM

Please respond to <epao@mba2002.hbs.edu>

To:   <John.Arnold@enron.com>
cc:
Subject:  RE: try this one...

will you do all of my homework?

-----Original Message-----
From: John.Arnold@enron.com [mailto:John.Arnold@enron.com]
Sent: Friday, May 11, 2001 8:41 AM
To: epao@mba2002.hbs.edu
Subject: Re: try this one...

i'll pay a grand total of 0

"Eva Pao" <epao@mba2002.hbs.edu> on 05/10/2001 05:15:59 PM

Please respond to <epao@mba2002.hbs.edu>

To:   <jarnold@enron.com>
cc:
Subject:  try this one...

 Please read the following problem very carefully, and write in a number at
the end.  You should be ready to defend your answer.  Only a number is
allowed, not an algebraic equation.

Acquiring a Company

     In the following exercise you will represent Company A (the acquirer),
which is currently considering acquiring Company T (the target) by means of
a tender offer.  You plan to tender in cash for 100% of Company T's shares
but are unsure how high a price to offer.  The main complication is this:
the value of Company T depends directly on the outcome of a major oil
exploration project it is currently undertaking.  Indeed, the very
viability
of Company T depends on the exploration outcome.  If the project fails, the
company under current management will be worth nothing--$0/share.  But if
the project succeeds, the value of the company under current management
could be as high as $100/share.  All share values between $0 and $100 are
considered equally likely.  By all estimates, the company will be worth
considerably more in the hands of Company A than under current management.
In fact, whatever the ultimate value under current management, the company
will be worth fifty percent more under the management of A than under
Company T.  If the project fails, the company is worth $0/share under
either
management.  If the exploration project generates a $50/share value under
current management, the value under Company A is $75/share.  Similarly, a
$100/share value under Company T implies a $150/share value under Company
A,
and so on.

     The board of directors of Company A has asked you to determine the
price
they should offer for Company T's shares.  This offer must be made now,
before the outcome of the drilling project is known.  From all indications,
Company T would be happy to be acquired by Company A, provided it is at a
profitable price.  Moreover, Company T wishes to avoid, at all cost, the
potential of a takeover bid by any other firm.  You expect Company T to
delay a decision on your bid until the results of the project are in, then
accept or reject your offer before the news of the drilling results reaches
the press.

     Thus, you (Company A) will not know the results of the exploration
project
when submitting your price offer, but Company T will know the results when
deciding whether or not to accept your offer.  In addition, Company T will
accept any offer by Company A that is greater than the (per share) value of
the company under current management.  Thus, if you offer $50/share, for
instance, Company T will accept if the value of the company to Company T is
anything less than $50.

     As the representative of Company A, you are deliberating over price
offers
in the range of $0/share (this is tantamount to making no offer at all) to
$150/share.  What price offer per share would you tender for Company T's
stock?

     $______ per/share


saw a lot of the bulls sell summer against length in front to mitigate
margins/absolute position limits/var.  as these guys are taking off the
front, they are also buying back summer.  el paso large buyer of next winter
today taking off spreads.  certainly a reason why the spreads were so strong
on the way up and such a piece now.   really the only one left with any risk
premium built in is h/j now.   it was trading equivalent of 180 on access,
down 40+ from this morning.  certainly if we are entering a period of bearish
to neutral trade, h/j will get whacked.  certainly understand the arguments
for h/j.  if h settles $20, that spread is probably worth $10.  H 20 call was
trading for 55 on monday.  today it was 10/17.  the market's view of
probability of h going crazy has certainly changed in past 48 hours and that
has to be reflected in h/j.

slafontaine@globalp.com on 12/13/2000 04:15:51 PM
To: slafontaine@globalp.com
cc: John.Arnold@enron.com
Subject: re:spreads

mkt getting a little more bearish the back of winter i think-if we get another
cold blast jan/feb mite move out. with oil moving down and march closer flat
px
wide to jan im not so bearish these sprds now-less bullish march april as
well.


Dear Mr. Kean,

We are excited to announce the formation of the Emery Financial Group of
First Union Securities. Effective this morning, based on a wide array of
issues, we have resigned from UBS PaineWebber. We have a strong desire to
continue the relationship that we have established with you. We are currently
in the process of contacting you by phone. Please feel free to contact us at
your convenience to discuss why we feel that this change will provide a
mutual benefit for both yourself, and to the Emery Financial Group in terms
of the service it will allow us to provide for you. Following is a list of
our new phone numbers:

Rocky Emery:713-853-2401
Pat Dowd: 713-853-2403
Hank Emery: 713-853-2407
Toby Pullig: 713-853-2383
Vince Weir: 713-853-2384
Julie Haviland: 713-853-2386
Caye Taylor: 713-853-2366
Ana Hilario: 713-853-2385

We look forward to hearing from you!

Sincerely,

The Emery Financial Group:


Here is some detail on the contracts mentioned in the brief...

For these 5 contracts, ENA/CES has Right of First Refusal for the next bid
process. Jeff Porter at CES is aware of TCO's deadline for matching. Rate for
these five contracts  is $5.171/month.  They expire 10/31/2000.
61822 4,000/d delivery to 23n-7
61825  4,000/d delivery to  23n-2
61838 1,000/d delivery to 23-4
61990 2,000/d delivery to 23-4
65418 500/d delivery to 23n-7

These five contracts have various terms and delivery points. No Right of
First Refusal.
64939 2,300/d delivery to COH 8-35   term ends 9/30/2000   $6.3980 Max
62164 2,000/d delivery to COH 7-9   term ends 12/31/2000   $3.0417 Discounted
65041 9,619/d delivery to Various Op-25  term ends 10/31/2000    $6.4860 Max
65042 4,427/d delivery to 25e-25   term ends 10/31/2000   $6.4860 Max
65108 5,000/d delivery to 4 (BG&E)  term ends 4/30/2001 $6.449 Max

Let me know if you need any additional information.
Scott

Chris Germany@ECT
06/02/2000 11:07 AM
To: Scott Goodell/Corp/Enron@ENRON, Molly Johnson/HOU/ECT@ECT
cc:

Subject: CES Supply Management Agreement

Hi team.  Do not discuss this with anyone at CES or EES please.  May not be a
problem but just in case.

---------------------- Forwarded by Chris Germany/HOU/ECT on 06/02/2000 11:06
AM ---------------------------

Timothy L Ray@EES
06/02/2000 10:48 AM
To: Colleen Sullivan/HOU/ECT@ECT
cc: Chris Germany/HOU/ECT@ECT, John Henderson/HOU/EES@EES
Subject: CES Supply Management Agreement

New Power Company is current working on the acquisition of CES' mass market
customers.  In light of the acquisition, there are issues that surround our
relationship with ENA as we step into the supply management agreement.  Below
are the observations  that I have.  I would like to get you feedback on
these.  If necessary, let's get together to discuss the ramifications.

1) We are purchasing customers within only twelve markets.  As such, we will
only interpret the language of the agreement related to "existing markets" as
applying to only those twelve markets.  For other markets that we conduct
business in, we would choose to make a decision on supplier and load
management even if it is an LDC identified as an existing market under the
agreement.  In essence, we see the supply management agreement being
bi-furcated since CES is selling C&I to another marketer.

2) My interpretation is that New Power Company will only be on the hook for
capacity and storage charges as they apply to mass markets.  This would
include capacity and/or storage allocations received on CVA, CMD, AGL.  In
addition, it would include the FSS and SST purchased on COH.  It would also
include the following transportation agreements: 61822, 61825, 61838, 61990,
64939, 65418, 62164.  There are some capacity agreements on TCO for
CPA(65041, 65042) and BGE(65108) that were purchased by CES for both C&I and
mass markets.  It is our contention that we will only be on the hook for the
demand charges related to the capacity covering mass market purchase
commitments identified in the schedules of the purchase agreement .  All
un-utilized capacity would to stay with CES and/or buyer of the C&I
agreements.

3) We need to discuss the application of the contract to additional capacity
that New Power procures applicable to the periods prior to Apr. 1, 2001.  I
want to keep this capacity separate and under our control.  I will need your
viewpoint on this.  If ENA feels strongly that we must place the capacity
under the supply management agreement, then I would want to discuss our
ability to market any excess capacity in open market.  Bottom-line, I want to
avoid gas costs being inflated due to my inability to receive value for
un-utilized capacity.

4) I would like to get your viewpoint on the right of first refusal clause.
My view would be that its applicable would be made to transactions of similar
nature and service level. (supply management)  To the degree that New Power
chose after the primary term to manage its supply, all supply only
transactions would not be subject to this clause.

I know you will need to review the contract.  We have some time to discuss
these issues, but would like to have feedback from you no later than next
Friday, if at all possible.  I can be reached at ext 39475.  Thanks for your
help.


Rosemary:

Yes, I would be happy to.  I would like to get some time on the schedule to
review the plan for energy both in North America and Europe.  It seems to me
that we ought to have a meeting in Frankfurt in Sept and a seminar on energy
in Houston over the next six months.

Mark


Vicki --

I will be in town on Thursday and available to meet.  Assuming that the meeting won't go for more than 1 - 1.5 hours, I'd be happy to attend.

Thanks,

Jim


Start Date: 10/15/01; HourAhead hour: 12;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001101512.txt

Error retrieving HourAhead price data - process continuing...
---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 10/15/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: CISO_EPMI_EPE
  ENGY_TYPE: NFRM


----- Forwarded by Sheila Tweed/HOU/ECT on 08/14/2000 04:56 PM -----

	Roseann Engeldorf@ENRON
	08/09/2000 01:47 PM

		 To: Lisa Bills/Corp/Enron@ENRON, Sheila Tweed/HOU/ECT@ECT
		 cc: "ROB TAYLOR" <TAYLR@andrews-kurth.com>
		 Subject: Coyote Springs Turbine Contract

Hello -

Attached for your review and comment are Rob's and Rose's changes to the
template contract.

Thanks,

Rose
---------------------- Forwarded by Roseann Engeldorf/Corp/Enron on
08/09/2000 01:46 PM ---------------------------

"ROB TAYLOR" <TAYLR@andrews-kurth.com> on 08/09/2000 12:42:47 PM
To: <Roseann.Engeldorf@enron.com>
cc:

Subject: Coyote Springs Turbine Contract

Attached are (i) a revised, clean copy of the Coyote Springs Turbine
Contract, (ii) a blackline of the Contract showing the changes that I made,
and (iii) a rider containing provisions relating to the Purchaser Indemnity.

Please let me know if you have any questions or comments.

Regards,

Rob Taylor
Andrews & Kurth L.L.P.
Chase Tower
600 Travis Street
Suite 4200
Houston, Texas  77002

Tel:  (713) 220-4436
Fax:  (713) 238-7273

robtaylor@andrews-kurth.com

This e-mail (and any attachment(s) hereto) is intended only for use by the
addressee(s) named herein and may contain legally privileged and/or
confidential information.  If you are not the intended recipient of this
e-mail, you are hereby notified that any dissemination, distribution or
copying of this e-mail (and any attachment(s) hereto) is strictly
prohibited.  If you have received this e-mail in error, please immediately
notify me at (713) 220-4436 and permanently delete the original and any copy
of such e-mail and destroy any printout of such e-mail.

 - TurbineC.DOC
 - Ridersto.DOC
 - TurbineC.DOC


Paige,
	When do you have am opening in your schedule for tomorrow's meeting?

				Chris


Here are the questions from Allegheny regarding the Gleason plant.  We will
try and answer these tomorrow, so please write down your answers to each
question and fax back to me at (713) 646-8863.  Thanks for your help with
these questions.
Ben
---------------------- Forwarded by Benjamin Rogers/HOU/ECT on 10/19/2000
07:24 PM ---------------------------

"Irwin, Thomas J." <TIRWIN@alleghenyenergy.com> on 10/19/2000 06:59:46 PM
To: "'benjamin.rogers@enron.com'" <benjamin.rogers@enron.com>
cc: "'mitch.robinson@enron.com'" <mitch.robinson@enron.com>, "Stang, H. Roy"
<hstang@alleghenyenergy.com>, "Lapcevic, Joseph P."
<JLAPCEV@alleghenyenergy.com>, "Pezze, Thomas A."
<TPEZZE@alleghenyenergy.com>, "'paul.f.burton@ssmb.com'"
<paul.f.burton@ssmb.com>
Subject: ENRON -- Information requests resulting from Gleason site visit

The following requests resulted from our site visit to Gleason Plant on
October 19, 2000:
1. Regarding the three CTs purchased and installed at Gleason, when was
the reservation agreement signed?
2. Please provide CD with Construction Drawings and Plot Plan
identified on DealBench.  Please include Seimens drawings.
3. Please point out in DealBench or provide separate the documents that
contain operating budget for Gleason.  Discussions identified a year 2000
budget versus actual report and a 2001 draft budget.  These two would be
adequate.
4. Please provide engineering details of RTU module and associated
equipment used for plant dispatch.
5. Please provide the O&M contract with Operational Energy Corporation.
6. Please provide water chemistry analysis for wells or identify
document on DealBench.
7. Please provide lease on property with Industrial Development Board.
8. Please provide any available information on Westinghouse contract.
9. Please provide chart and guarantee curves for CTs.
10. Please provide your calculations supporting the 915 hour annual
operating limit.
11. Please identify equivalent starts for each CT.
12. Please provide copy of standard operating procedure for the plant.
13. Please provide hydrological studies on aquifer used for plant water.
Please provide forecast of Price volatility for ECAR, TVA, and M


Kathy,

Attached for your review, is a draft of a Master Firm Purchase/Sale Agreement
between Cargill, Incorporated and Enron North America Corp.  Please do not
hesitate to give me a call with your questions and or comments regarding this
matter.

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


Dear Mr. Lay -

My name is Bobby Gerry and I am an employee here at Enron.
I do not know if I may be able to provide any financial help to Enron, but certainly I would like to make myself available.

As a family, we own an approximate $700 million in Exxon stock and maintain excellent relationships with several investment banks.

My mother, Sandra Mosbacher, myself, my brother, as well as my Aunt Caroline Law have all been actively following Enron's situation and are available to help in any way we can.

Sincerest regards,
Bobby Gerry


I completely agree. If you don't mind, please give her a call and introduce yourself. I expect Sheri as part of her transition to introduce Savita to the relevant folks in the operations organization. If it were not for Jennifer Deny taking maternity leave I would expect her to fulfill the role Sheri had with operations, but I would like Savita to develop those relationships as well.

As a point of interest, why would I ever not support Savita maintaining the free flow of information between the groups ? I have absolutely nothing to gain and everything to lose from this not occurring.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/27/2000
07:26 AM ---------------------------

"NW on Application Service Providers" <ApplicationService@bdcimail.com> on
04/27/2000 03:30:09 AM
Please respond to "Application Service Providers Help"
<NWReplies@bellevue.com>
To: <vkamins@enron.com>
cc:
Subject: Get ready for virtual businesses

NETWORK WORLD FUSION FOCUS: MIKE JUDE and NANCY MEACHIM
on APPLICATION SERVICE PROVIDERS
Today's focus: Get ready for virtual businesses
04/26/00

Dear Wincenty Kaminski,

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sponsored by Citrix ~~~~~~~~~~~~~~~~~

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worldwide depend on to deliver mission-critical applications with
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whitepapers on Network World Fusion.
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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Today's focus: Get ready for virtual businesses
---------------------------------------------
By Mike Jude and Nancy Meachim

The ASP model as it is currently formulated is not really viable in the
long run.

Though hosting applications has opened a world of possibilities and
cost savings for end users, application service providers who simply
host applications don,t have much to offer. They also have the problem
of being the customer contact. If the network fails and customers can,t
access an application, they blame their ASP, not the network provider.

For these reasons, many ASPs are expanding to offer more value, such as
delivering network services along with their applications. Enterprise
Management Associates advocates this approach - but looking to the
future, as analysts are supposed to do, we see a much longer value
chain. Providing other services along with applications is one step up,
but beyond that, we see a huge potential in the virtual space ASPs have
created.

We are already beginning to see pioneering companies exploring the
possibilities. For example, Minnesota company Agiliti is building an
online suite of applications with a consistent front end. This
coordinated suite of business applications is accessed through third-
party partners who provide customer care and support. The value that
Agiliti offers is the integration and maintenance for a complete,
business-enabling software infrastructure. In a sense, this is an
online corporate back office.

As ASPs evolve into full-service providers, more of them will offer
service and support combinations similar to Agiliti,s. But what about
the front end of the business, the product development side of things?
We,ve found one ASP that has evolved quickly to become a full-service,
front-end infrastructure provider, offering product development,
fabrication and prototyping.

Toolwire, a Silicon Valley start-up, provides a complete, integrated
tool set for electrical engineers. This tool set incorporates state-of-
the-art design and fabrication software, as well as online information
and training in the latest tools and support from various electronic
suppliers and fabricators. Toolwire,s vision is to provide a virtual
space where engineers worldwide can collaborate on the design of
advanced electronic devices. Through an extensive partner network,
Toolwire provides not only tools but also collaborative space,
processing power, training and supplier support. In a nutshell, the
company sells a virtual corporation to any entrepreneur with a good
idea. Ultimately, Toolwire expects to expand to incorporate the supply-
and-distribution chain through its site as well.

As e-commerce speeds up, a significant advantage is gained by reducing
the latency involved in delivering new products to market. In the area
of electronics, latency is often due to the acquisition of new tools to
facilitate the design process. Toolwire,s approach dramatically reduces
latency for start-ups by eliminating the need to invest in highly
volatile and very expensive design tool sets. Likewise, Agiliti reduces
latency by off-loading the IT infrastructure support from an enterprise.

Breaking new ground, of course, carries with it the problem of
definition. What do you call this new virtual workplace, which combines
all the necessary tools to design, produce, market and deliver a
product without the need for any physical infrastructure? (Agiliti and
Toolwire haven,t reached this goal yet, but it is within their sights.)
The label we,ve come up with is &virtual business service provider.8
This entity transcends the full-service ASP by not only providing
access to the services and applications a company needs but also
actually providing the entire company itself.

Companies like Agiliti and Toolwire are commodifying the enterprise.
The day is coming, very shortly, when an entrepreneur with a good idea
will be able to sit down at a terminal; design a product; ship the
specs to a fabricator; order components; plug into the appropriate
accounting, billing and inventory systems; line up distribution
channels, sales and marketing resources; and obtain financing. And the
entrepreneur will be able to do all that without touching anything more
physical than a keyboard.

Welcome to the business in a box!

To contact Mike Jude and Nancy Meachim:
---------------------------------------
Senior consultant Michael Jude and research director Nancy Meachim are
with Enterprise Management Associates in Boulder, Colo.,
(http://www.enterprisemanagement.com), a leading analyst and market
research firm focusing exclusively on all aspects of enterprise
management. Jude has over 18 years of experience in the
telecommunications industry, most recently with US West, where he was a
manager of public policy. Mike can be reached at
mailto:jude@enterprisemanagement.com. Meachim focuses on e-business
management. She is currently conducting a research study on ASP
management that is due to be released in April. Nancy's email address
is mailto:meachim@enterprisemanagement.com.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
FOR RELATED LINKS -- Click here for Network World's home page:
http://www.nwfusion.com
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Agiliti:
http://www.agiliti.com/

Toolwire:
http://www.toolwire.com/

Agiliti turns to resellers for new ASP service, Network World, 03/24/00
http://www.nwfusion.com/news/2000/0324agiliti.html

Archive of Network World Fusion Focus on ASPs newsletters:
http://www.nwfusion.com/newsletters/asp/

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Copyright Network World, Inc., 2000


here is the latest from jackie and me

>From: "Chris Neale" <chrisjneale@hotmail.com>
>To: JKelly@FairIsaac.com, Jeff.Dasovich@enron.com,
>cneale@coredevelopmentinc.com
>CC: dasovich@haas.berkeley.edu, kupiecki@haas.berkeley.edu,
>tedchin@hotmail.com
>Subject: RE: FW: Review Session for Final
>Date: Sun, 03 Dec 2000 21:56:16 -0800
>
>Kim & Jeff, Hope all is going well with your other project.
>
>Attached is the word document containing the list of Attachements for the
>Executive Summary and who is doing which part.  For parts B - G, all that
>needs to be done is to clean up the analysis & Plot the results.
>
>Hope it helps, Chris
>
>
>
><< StadiumStudySession.doc >>

______________________________________________________________________________
_______
Get more from the Web.  FREE MSN Explorer download : http://explorer.msn.com

 - discount rates.doc
 - JACKIE EXHIBITS.xls


Jeff
this e-mail didn't appear to reach you last night, so re-sending

Jeff
I enjoyed seeing you again at the meeting earlier today.  I am not sure how
much of my background you might recall.  But I have spent much of my career
advising senior politicians, and more recently (past 6 years or so) leading
industry processes to influence policy outcomes and implement industry lead
reform.  Like you I find the issues the issues these processes through up
exciting and challenging.  Clearly, the scale of industry and political
administration is greater than NZ and Australia (with a combined population
of about 20m), but some of our experience in thinking through and managing
these processes to achieve useful outcomes might be useful.
Please call me if you need to think out loud or if I can help in anyway.  I
have attached my cv to give you an indication of the sort of issues and
processes with which I have been involved.  I am currently on a plane back
to NZ tomorrow (Sunday) night, but am up and down reasonably frequently.
My contact numbers are wk (64 4) 472 0590, mobile (64 21) 245 0161 (I have
this with me) and home (64 4) 971 7696.

All the best.
Regards
Kieran
 - Kieran Murray's CV.doc


You are cordially invited to attend an overview session provided by the ENA
Human Resource department regarding the Performance Evaluation Process
(PEP).  Employees who have not attended any previous PEP training or new
managers are strongly encouraged to attend this session.  However, all are
invited to attend.

What:   Overview of the Performance Evaluation Process
When:  Monday, October 30, 2000
   12:00-1:30 p.m. or 3:00 - 4:30 p.m.
   OR
   Tuesday, October 31, 2000
   10:00-11:30 a.m. or 12:00-1:30 p.m.
Where:  Doubletree (next to 2 Allen Center),  De Zavala Conference Room
Available seating: 50  per session
Bring your lunch. Drinks  and cookies will be provided.
If you are unable to attend, there will be a Technical and a Process guide
available through the web base site http://pep.corp.enron.com.  Also, there
is a PEP Help Desk hotline of (713)853-4777 option 4 should you have any
questions during the evaluation process.


Tom and Cynthia--The SE reports includes some dings against TVA.

On 11/1/00, FERC Staff issued reports on its Investigation of Bulk Power
Markets in the Eastern Interconnection.  These reports were the result of a
Commission order earlier this summer.  Enron's Federal regulatory staff
(Christi, Charles Yeung, and Sarah Novosel) provided a great deal of
information for this investigation and Joe Hartsoe and Donna Fulton discussed
many of the problems with the grid with the new head of Staff, Scott Miller
(who recently joined FERC from PG&E Gen).    While the Commission is under no
obligation to take any of Staff's recommendations, the Commission typically
looks to Staff for guidance on transmission and market issues.  Importantly,
Staff concludes that the Commission should consider these options for the
Southeast and Midwest -- all of which Enron has been asking FERC to implement
for several years:

Reduce the advantages of network service over point to point service by
requiring that native load be served under the same tariff as other
transmission services to eliminate the current incentives that VIUs have to
favor their native load through the calculation of ATC and handling of
interconnection requests.

While the Staff Hotline is used productively, the Commission can direct Staff
to conduct formal investigations into entities that have a pattern of
complaints.

The Commission could require TPs to submit tariff provisions containing a pro
forma interconnection process specific to interconnection, rather than simply
relying on the Tennessee Power order that utilizes the OATT timelines and
procedures.

Require TPs to retain real-time transmission data on market functions
pertaining to daily load, internal generation to meet that load, and imports
and exports.

RTOs should submit the basis and methods for calculating ATC and TTC, as well
as standardized criteria for curtailment.  In addition, since even such
standardized criteria might not "get to the root of the problem" -- that
control area still control generation -- the Commission could require that
each RTO set a date certain by which it will create one control area.
Regardless of the implementation of these two options, the Commission could
standardize ATC and TTC methodology.

Staff finds that while electricity is a commodity with market characteristics
similar to many other commodities, it is still viewed as "different," with a
reaction of price caps.  Staff encourages that basic decisions about the
regulatory model be made in order to complete the transition from a
traditional cost-of-service model to a model that uses markets to price the
commodity and services.

DETAILS  (Also, the reports contain good summaries of the generation,
transmission, state retail, federal reg. and other issues for the region):

Midwest:  The Midwest is dominated by vertically integrated Transmission
Providers ("TPs") that control transmission, generation and load.  "As such,
they have weak economic incentives to provide access to transmission service
to third-parties and strong incentives to favor their own services."  Staff
received numerous complaints; however, due to the lack of information
available from TPs, Staff cannot conclude whether these are isolated
incidents or wide-spread.  At the very least, the complaints indicate a lack
of confidence in the bulk power market and the ability of market participants
to rely on transmission access, thus harming the liquidity of the market.

TLRs are the most important transmission issue in the Midwest, with an
"enormous" increase in 2000.  The region showed a decline in peak load from
1999 to 2000 and a growth in new generation since the 1998 price spikes.
Even though there was an increase in generation and mild weather with
virtually no price spikes, TLRs climbed to record numbers.  The TLRs were
highly concentrated:  only 5 flowgates account for 41% of ECAR TLRs and
another 5 flowgates in MAIN account for 42% in that region.  Notably, even
though the NERC procedures for Level 3 TLRs mandate transaction curtailment,
78 of the 191 TLRs in the Midwest do not show any curtailment amount.  The
total amount of relief that these curtailments are intended to produce are
not posted.  Staff notes that TLR rules are established by NERC, whose
procedures are voluntary and not enforced by penalties.  While the Commission
has required certain NERC standards and procedures to be placed in Open
Access Transmission Tariffs ("OATT") where the Commission has the power to
enforce provisions under the Federal Power Act, in practice the Commission
has generally deferred to NERC on transmission reliability questions,
including the propriety of TLRs.

TLRs inhibit optimal functioning of the transmission system and market
because load is not served by the least cost supplier.  TLR procedure is an
inefficient instrument in mitigating constraints -- curtailment by fiat.  In
addition, the NERC IDC can result in inappropriate curtailments or increased
loading on the affected flowgate.  The impact could be mitigated by one
control area per RTO.

Staff notes that the Midwest state commissions did not petition FERC for
price caps following the 1998 price spikes.  Some market participants believe
that the absence of price spikes is the single reason that NUG construction
increased in the Midwest.

Market participants must keep track of, and follow, a plethora of information
in order to make energy deals, submit reservations and provide schedules for
service.  Staff received many complaints about barriers to transmission
access, including TLR curtailments and a lack of standardized information and
protocols, particularly for ATC and interconnection requests, and
discriminatory conduct.  Unbelievably, key data was unavailable to Staff,
such coincident peak load data, system-wide snap shots for days when TLRs
were called, and import/export data.  This lack of data creates a market
inefficiency, because neither market participants nor regulators can fully
analyze market conditions in real time.  As such, the market is risk adverse,
eschewing long-term deals for short-term transactions.  Staff also noted that
because the Security Coordinators often work for the IOU, there is a mixed
incentive to enforce reliability on the grid and maximize profit for the
IOU.  (Staff cites Richard Tabors' paper, "Transmission Markets, Stretching
the Rules for Fun and Profit.")

Staff cites the lack of information on OASIS or on the NERC web site,
particularly about real time TLRs and curtailments.  Examples were provided
to Staff of transmission refusals when there were no TLRs posted and improper
implementation of TLRs causing substantial financial loss.

The currently proposed Midwest RTOs may mitigate some problems; however, all
three retain existing control areas with the favortism for generation and
native load.  These incentives will continue to remain until the RTO
exercises complete autonomy over transmission control and security
coordinator functions.  Staff notes that the Midwest is a balkanized region
of 61 control areas with no uniform method for calculating ATC and CBM.  The
result is that ATCs can be different on 2 different sides of an interface.
Staff notes examples in inaccurate ATCs and states that Staff's own ATC audit
this summer was consistent with market participant complaints.  Staff is
weighing follow-up options.  The result of these problems is a lack of
liquidity.

Staff next noted the problems with unfiled "business practices," especially
on the next hour market.  Staff's audit of OASIS sites revealed several areas
of non-compliance.

Information transparency is necessary for a market to function efficiently,
with equal and timely access to data, including ATC, CBM, TRM, and load flow
input data.  TPs have incentives to resist efforts to make this information
transparent because of native load.  This incentive will still exist under
RTOs if utilities are allowed to calculate their own ATC.  ***  "As a
consequence, the Commission may wish to eliminate the native load exemption
and have all transactions under the same tariff."  ***  The Commission could
benefit by having access to existing transmission data and should require the
TPs to retain data, including current real-time network status.

Interconnection Issues:  IPPs need to be compensated for VAR support.  Also,
Staff cites a number of Hotline complaints about TPs seeking large deposits
or failing to complete System Impact Studies timely.  One solution is to have
the RTO handle this function to eliminate the disincentive the utilities have
against IPPs.  The current practice of requiring IPPs to deal with a wide
variety of procedures inhibits the free flow of transactions within the
region.

Network service has inherent advantages over point-to-point, citing the
Entergy source and sink order.  The Commission has relied on "passively"
receiving informal and formal complaints to determine if discriminatory
behavior has occurred rather than actively canvassing market participants.
While Staff cannot conclude that discriminatory practices are widespread,
there is evidence of discriminatory instances.

Southeast:  The traditional vertically integrated utility ("VIU") model has
largely persisted in the SE.  This continued control has vastly reduced the
economic incentives to facilitate IPP activities.  In many cases, the VIUs
have dampened IPP involvement without violating any Commission regulation due
to the inherent flexibility of the current rules.

Staff cites examples of delays in performing system impact studies,
transmission hoarding in the name of serving native load growth and
manipulation of ATC.  TPs have shown little inclination to improve the
transmission system and use many TLRs.

There is also a lack of market information that has stymied the development
of markets in the SE.  ATCs change constantly that leads to uncertainty and
there is no clearinghouse for electric power prices.

TVA, despite having taken steps to participate in reformed markets, has acted
as a bulwark against the development of competitive energy markets in the
SE.  This is significant because of TVA's size and location.  IPPs have
reported TVA's discouragement of siting in TVA through excessive time to
perform studies, excessive fees, and rejection of requests to perform
interconnection studies.

In addition, Staff cites the Florida Sup. Ct. decision against merchant
plants as significantly impeding the competitive market in Florida.

Staff discusses the significant flow of power from the Midwest to the SE this
summer.  Much of this resulted from the import of cheaper coal power, than
the use of gas fired peakers due to higher gas prices.  Peak prices were
radically lower this summer because utilities appear to have been better
prepared for peak events through the use of forward contracts, increased
generation capacity on line and reduced number of forced outages.

SE utilities reported that they have not used market-based rates to
extensively increase sales.  (Less used than in the midwest.)

The SE region lacks information, which has retarded the Staff's efforts to
discern the truth about the numerous complaints about transmission in the SE
(including ATC and TLRs).  Market participants seem to have less confidence
in the SE market than in any other market region.  This appears to be
justified based on Staff's investigations.  This lack of confidence
discourages investment and participation in the markets.  Staff concludes
that the Commission may need to be more prescriptive in terms of how
transmission is allocated in the SE RTOs, since there are market concerns
that the incumbents will continue to dominate operations.  The investigation
found numerous problems in bad ATCs and TTCs and poor OASIS postings.  In
addition, several OASIS audit logs actually erased historical data.  Staff
thinks that additional affiliate transaction information should be posted.
Staff could not obtain summer demand data and the Commission's lack of
jurisdiction over TVA made it difficult to obtain transmission access
information.

The Staff investigation revealed unclear interconnection procedures and lack
of adherence to schedules and arbitrary cost estimates and deposits.  In
addition, the TPs have reserved a huge amount of network transmission
capacity, much of it reserved shortly after the IPP approached the TP to
interconnect.  Staff cites the recent Skygen order in which Southern denied
Skygen's request for transmission stating that the only option was the
construction of an 80 mile 500 kv line that would take 8 years to complete.
Staff solutions include allowing network requests by IPPs and limiting
self-build capacity in the incumbent's territory.

ATC variations are a big problem in the SE.  SERC coordination of a
standardized ATC is a long process and may not be resolved soon without
direction from the Commission.  An improved method and improved communication
are needed.

The SE experienced a 354% increase in TLRs this summer.  This increase raises
the issue of whether curtailment has become an impediment to the competitive
operation of the market in the SE.  Staff cites information provided by
Charles Y. that an Ameren TLR was not implemented according to NERC
criteria.  Staff also wonders if transmission is being oversold since TPs do
not generally refund transmission revenues when TLRs are implemented.  RTOs
must have a broad geographic area to internalize much of the constraints.  In
addition, RTOs will adopt pricing mechanisms that obviate recourse to TLRs.
However, if control areas are retained, VIUs will retain mixed incentives.

*** As noted in the Midwest report, the manner in which load is calculated
weighs heavily on the value of this information.  This is an issue that the
formation of RTOs may not resolve.  Eliminating native load exceptions -- ie,
treating all load equally -- and placing all transactions under the same
tariff may be an option that provides the right incentives for the provision
of transparent and standardized information.

Finally, Staff describes specific problems with TVA and FP&L, TVA is a
"problem area" for the Eastern Interconnect grid.  TVA is a transmission
bottleneck due to the many TLRs called this summer.  The current federal law
and lack of Commission jurisdiction are impediments to the development of
deep and robust power markets in this area.  TVA simply has no strong
incentive to provide effective and efficient transmission service.  In
addition, the Commission does not have full information on TVA.  Staff lists
a number of complaints against TVA, including unjustifiably increasing the
tag deadline and allowing TVA Marketing, but not others, to sink and park
power.  Staff concludes that recent proposals by TVA to enhance the
development of markets and its system do not appear to have great potential.

A Staff audit of FP&L revealed violations of standards of conduct, including
confidential information on FP&L's transmission system (including interchange
information for other entities) posted on EMS systems that were available to
FPL's merchant function.  Staff's report found that FP&L does not have an
established procedure for review of EMS to ensure that information is not
displayed in error.  It is "up to individual Managers discretion."  ((FRCC
web site report dated 9/8/00)).  Violations such as these undermine
competition.

The reports are attached below.

 - southeast.pdf
 - midwest.pdf


FYI
---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on
28/02/2000 08:16 AM ---------------------------

Alexandre Bueno
25/02/2000 08:47 PM
To: Michael Guerriero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Pablo
Acevedo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bernardo
Andrews/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Diego
Hollweck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John J
Shoobridge/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gabriela
Aguilar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rodolfo
Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Julian
Poole/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cristian
Folgar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Calo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marta
Ortiz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Luis
Juarros/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Guillermo
Canovas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Clipping 02/25/2000

BRAZIL: ENRON AGAINST THERMAL STATIONS PROGRAM
O Estado de S.Paulo, 25 Feb 2000, p. b-2:-
 There has been some conflicts between the Brazilian Ministry of Mining and
Energy and the US energy company Enron, which was against the Brazilian
thermal power stations program.

BRAZIL: EUR 175MN ORDER FOR ABB ALSTOM POWER
La Tribune, 25-26 Feb 2000, p.15:-
 The European energy group, ABB Alstom Power, is to receive a EUR 175mn share
as part of a group contract to provide the Brazilian hydraulic power station,
in Tucurui, with a 3,670 mW section. The site in Tucurui, managed by the
Brazilian energy company, Eletronorte, is the fourth hydraulic power station
in the world. ABB represents a consortium of energy groups in this contract,
representing a total order of EUR 325mn, with the groups, Odebrecht,
Inepar-Fem and GE Hydro Inepar. This 3,670 mW section will be added to an
existing 4,250 mW section.

BRAZIL: SUIT TO PAWN STATE'S SHARES OF CELESC
Gazeta Mercantil, 25 Feb 2000, p. a-14:-
 The specific purpose company Invesc, which was created to get funds for the
government of the Brazilian state of Santa Catarina in 1995, had issued R$
100mn debentures using shares of the Brazilian electricity company Celesc as
guarantee.
But Invesc paid interest of the debentures only in 1997 and so debentures
holders filed a lawsuit in March 1999 to be paid.
A legal decision was taken on February 22nd 2000 about the matter and then a
debt of approximately R$ 274mn must be paid to the debentures holders of
Invesc or 29.32% of the common shares of Celesc owned by the state will be
pawned (market value of the shares was equal to R$ 171.7mn on February 24th
2000).
If the shares are transferred to creditors, the state will still own 50.18%
of the common shares of Celesc and Previ (pension fund of employees of the
Brazilian bank BB - Banco do Brasil) will increase its participation in
Celesc from 12.54% to approximately 33%.

BRAZIL: ALCOHOL TENDER HELD ON FEBRUARY 24TH
Gazeta Mercantil, 25 Feb 2000, p. B-24:-
 The volume of 58.65mn of litres of alcohol was acquired in a tender held on
February 24th 2000 by the Brazilian government.
The total volume offered in this fifth tender was of 60mn of litres. The
average price paid for the product was of R$ 0.4089 per litre, decreasing by
0.3% compared to the last tender. The total revenue of the volume sold was of
R$ 24.098mn.
According to a source of the Ministry of Agriculture, a meeting will be held
in the last week of February in order to define if more alcohol tenders will
be held or not.

BRAZIL: FUEL DISTRIBUTION MARKET - PERFORMANCE
O Estado de S.Paulo, 24 Feb 2000, p. b-8:-
 According to a survey carried out by the Brazilian National Trade
Association of Fuel Distribution Companies (Sindicom), the largest fuel
distribution companies in Brazil, BR Distribuidora, Shell, Esso, Ipiranga and
Texaco, registered sales of 2.551mn m3 in January 2000, a fall by 22%
compared to the 3.276mn m3 sold in January 1999.
Meanwhile, sales registered by smaller companies grew by 34.1% in the same
comparison basis.
According to Luiz Antonio Viana, president of BR Distribuidora, this was due
to an unfair competition caused by these smaller companies, which have for
instance appealed to tax evasion.

BRAZIL: OIL ACCOUNT SURPLUS' GOAL STILL R$ 3.6BN
O Estado de S.Paulo, 25 Feb 2000, p. b-4:-
 The Brazilian government still has as goal to reach a surplus of R$ 3.6bn in
the Brazilian oil account (difference between imports costs and consumer
prices)  in 2000 even with the higher oil prices in the last weeks.
The chief of the Economic Advisory of the Ministry of Planning and Budget,
Jose Guilherme Reis, said that it is still possible to reach that goal and so
the government is not analysing alternatives.


I have been receiving a few calls about where to pick up a costume?
The address is as follows:

 Costume Shoppe 570-2466  1317 - 9 Ave. SE
 It seems that most people are leaving the task of picking out their
costume until the last minute.  Margo has introduced lots of new costumes
for this year.  Hint, Hint - the later you leave it, the bigger the line up
at the Costume Shoppe.

 We would really like to encourage all of our Deputies to wear a
costume.

 If you have any questions, please give me a call at 260-3412.

 thanks,  Sheila
>

 - att1.htm


Great!  Pull the trigger on both.  I'll let MKM know that both docs are
strokes of genius.  Go ahead and get the op control agreement signed by
relevant parties and sent to the proper place.  Gracias and good work!  DF

	From:  Susan Scott                           02/11/2000 11:19 AM

To: Drew Fossum@ENRON
cc:

Subject: filings

Couldn't stand the suspense, could you.  In case Janet was not able to send
you what you needed, here they  are:

(final)

(still need to look at)


Milly is going on a snowmobile trip that leaves tonight.
His plane lands in Calgary today at 2 p.m.
angela

	Enron Capital & Trade Resources
	Canada Corp.

	From:  Cliff Lawrick                           01/19/2000 08:45 AM

To: John J Lavorato/CAL/ECT@ECT
cc:
Subject: Re: Thursday, Jan. 20 7:00 PM Saddledome

Thanks.  When does Milly get back?


---------------------- Forwarded by Phillip M Love/HOU/ECT on 03/20/2001
09:48 AM ---------------------------
From: Veronica Espinoza/ENRON@enronXgate on 03/20/2001 09:02 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report--3/20/01


Please approve the following product type in Datamanager after 11:00 p.m.
See the steps for approval below.

US Gas Fin Swap ENA (INTERNAL ONLY)

A financial Swap Transaction with Enron North America Corp., under which the
Seller pays a Floating Price and the Buyer pays the price submitted by
Counterparty on the Website (the Fixed Price) in each case in respect of the
Notional Quantity per Determination Period.  Each calendar month during the
term of the Transaction will be a Determination Period. The Notional Quantity
per Determination Period is the volume submitted multiplied by the number
days in the relevant Determination Period.  The Payment Date(s) will be 5
business days after the Floating Price is determinable. The Floating Price
shall be the average of the Index for each day in the relevant Determination
Period.
The term of the Transaction shall correspond to the date(s) set forth in the
Product description on the Website.
The Index shall be the settlement price for the last scheduled Trading Day of
the NYMEX Henry Hub Natural Gas Futures Contract for the applicable
Determination Period.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be millions of
British thermal units and the quantity shown shall be in millions of BTUs per
day.

STEPS FOR APPROVAL:

click the  START button
select  PROGRAMS
select  TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
 PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
 PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR  "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE:  Right mouse click on "Approved"


Attached please find a short description of key issues facing the power
markets and Enron's position on each issue.  Please feel free to call me to
discuss.

Jim


http://www.lasvegassun.com/sunbin/stories/archives/2000/nov/10/511018638.html?
tom+carroll


Attached  are two files that illustrate the following:

As prices rose, supply increased and demand decreased.  Now prices are
beginning to fall in response these market responses.


The report named: West NG Prices - Basis <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=45&report_name=West+NG+Prices+-+Basis&category_cd=2&category_name=WEST&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/21/2001>, published as of 11/21/2001 is now available for viewing on the website.

(Revision: 3)


Bani,

Thanks.

Vince

Bani Arora@ENRON_DEVELOPMENT
01/10/2000 06:14 PM
To: Vince J Kaminski@ECT
cc:
Subject: Congratulations!

Hi Vince:

I just received the email announcing your promotion, and I wanted to take
this opportunity to congratulate you.

Best Regards,

Bani


Did you get the fax of the Consumers Energy invoice??


Jeff --

Please add John Neslage to your e-mail list.

Jim


DWR now has authorization to buy down load at market prices.

 Press Release

OFFICE OF THE GOVERNOR
PR01: 285
FOR IMMEDIATE RELEASE
06/10/2001

GOVERNOR DAVIS ORDERS FINANCIAL INCENTIVES FOR BUSINESSES WHO CUT ENERGY USE

Order Calls for Streamlining of Energy Demand Reduction Plans

LOS ANGELES

Governor Gray Davis today signed Executive Order D-39-01, which authorizes
the California Department of Water Resources (DWR) to implement voluntary,
emergency load curtailment programs for commercial, industrial or other large
businesses. In exchange for agreeing to reduce electricity usage during power
emergencies, the DWR will offer financial incentives to participating
customers.

"Nearly 70 percent of energy usage in California is commercial," Governor
Davis said. "Commercial load curtailment programs can help mitigate and even
avoid blackouts. Therefore, I am ordering the Department of Water Resources
to implement a program that allows businesses to receive compensation if they
voluntarily agree to reduce their energy consumption during peak periods."

The Governor's order addresses the overlapping and sometimes inconsistent
load curtailment programs currently offered by the California Independent
System Operator, the Public Utilities Commission, and the Investor-Owned
Utilities.

The DWR and the ISO will implement the programs for Summer 2001 and Summer
2002 and the DWR will finance the customer incentives. The incentives will be
determined by a number of factors, including the size of the customer and the
amount of energy to be curtailed. The overall cost for the program, estimated
to be between $50-100 million, will ultimately depend on the number of
customers who sign up.

Executive Order D-39-01

###

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

GOVERNOR GRAY DAVIS ?SACRAMENTO, CALIFORNIA 95814 ? (916) 445-2841

Back to Top of Page

Conditions of Use | Privacy Policy | E-mail Webmaster
, 2000 State of California. Gray Davis, Governor.

TM/2001 Hollywood Chamber of Commerce licensed by Global Icons, Los Angeles,
CA 90034. All Rights Reserved.

 -----Original Message-----
From:  Scott Govenar <sgovenar@govadv.com>@ENRON
[mailto:IMCEANOTES-Scott+20Govenar+20+3Csgovenar+40govadv+2Ecom+3E+40ENRON@ENR
ON.com]
Sent: Monday, June 11, 2001 10:10 AM
To: Hedy Govenar; Mike Day; Bev Hansen; Jeff Dasovich; Susan J Mara; Kaufman,
Paul; McDonald, Michael; McCubbin, Sandra; Rick Shapiro; Steffes, James; Alan
Comnes; Kean, Steven; Karen Denne; Kingerski, Harry; Lawner, Leslie; Robert
Frank; Ken Smith; Guerrero, Janel; Buster, Miyung; Thome, Jennifer; Eric
Letke; Schoen, Mary; Leboe, David; Sharma, Ban
Subject: Demand Buy-Down

Please see the attached press release from Governor Davis regarding
demand buy-down.  Please also see the Executive Order at the bottom of
the page.

http://www.governor.ca.gov/state/govsite/gov_htmldisplay.jsp?BV_SessionID=@@@@
0373158305.0992279028@@@@&BV_EngineID=ealleejklgkbemfcfkmchcng.0&sCatTitle=Pre
ss+Release&sFilePath=/govsite/press_release/2001_06/20010611_PR01285_exec_orde
r_load_curtailment.html&sTitle=GOVERNOR+DAVIS+ORDERS+FINANCIAL+INCENTIVES+FOR+
BUSINESSES+WHO+CUT+ENERGY+USE&iOID=15261


Please add to your spread sheet.
 -----Original Message-----
From: 	Thorne, Judy
Sent:	Tuesday, August 21, 2001 4:34 PM
To:	'csingh@unocal.com'
Cc:	Perlingiere, Debra; Kelly, Katherine L.
Subject:	Unocal/ENA Upstream GISB

Chamalie,

Thank you for sending your company data sheet. I have attached our company data sheet as well as a sample GISB for your review. Our point of contact for our GISB negotiations is Debra Perlingiere.

Please let me know if there is anything else that you need from us.

Thanks,
Judy Thorne
ENA Upstream Company, LLC
713-853-4758


Rob,

I know we have visited before on this product, but now I would like to go
ahead up.  I need to set up a Gas Daily Index product priced off of IF Katy.
The short name would be IF GD/D Katy.

Thanks,

Eric
x3-0977


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude43.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas43.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil43.pdf
Unleaded     http://www.carrfut.com/research/Energy1/unlded3.pdf

Jan WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clf-qof.pdf
Jan Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Jan Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Dec/May Heat Spread     http://www.carrfut.com/research/Energy1/hoz-hok.pdf
Jan/Feb Heat Spread     http://www.carrfut.com/research/Energy1/hof-hog.pdf
Dec Gas/Heat Spread     http://www.carrfut.com/research/Energy1/huz-hoz.pdf
Feb Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hug-hog.pdf
Dec/Mar Unlead Spread
http://www.carrfut.com/research/Energy1/huz-huh.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG43.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG43.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL43.pdf

Scott Mollner Recomendation
http://www.carrfut.com/research/Energy1/recom11-27-01.pdf


Gary,
We need to have two more books created as soon as possible.  These need to be
set up the same as the others(not as PA books) Kam requested (moving from and
Intra book to an FT book).

 FT-INT-CNT-TRANS
 FT-INT-EMWMEH

Call if you have any questions.  Thanks

DG
3-9573


Attached is some good advice from Den Colin Powell that I thought I would
share.  I hope you find it as impactful as I did.

Cheers,
Casey Jones
Mercator Partners, LLC
89 Thoreau Street
Concord, MA 01742
+1 (978) 318-9696 (office)
+1 (978) 318-9797 (fax)
+1 (978) 394-2110 (mobile)

 - att1.htm
 - Casey Jones.vcf
 - Powell on Leadership.pps


---------------------- Forwarded by Larry F Campbell/NA/Enron on 09/14/2000
04:44 PM ---------------------------

Don Baughman@ECT
09/14/2000 12:30 PM
To: Alonzo Williams/HOU/ECT@ECT, Richard Hrabal/HOU/ECT@ect, Kayne
Coulter/HOU/ECT@ECT, John Kinser/HOU/ECT@ECT, Patrick Hanse/HOU/ECT@ECT, Rudy
Acevedo/HOU/ECT@ECT, Gerald Gilbert/HOU/ECT@ECT, Cyril Price/HOU/ECT@ECT, Jay
Wills/Corp/Enron@ENRON, Wayne Herndon/Corp/Enron@ENRON, Larry
Jester/Corp/Enron@ENRON, Jeff King/Corp/Enron@Enron, Juan
Hernandez/Corp/Enron@ENRON, Joe Errigo/Corp/Enron@Enron, Lawrence
Clayton/Corp/Enron@Enron, Dean Laurent/HOU/ECT@ECT, Keller
Mayeaux/Corp/Enron@Enron, Doug Miller/Corp/Enron@Enron, Chad
Starnes/Corp/Enron@Enron, Joe Stepenovitch/Corp/Enron@Enron, Greg
Trefz/Corp/Enron@ENRON, Lisa Burnett/Corp/Enron@Enron, Jason
Choate/Corp/Enron@ENRON, Larry F Campbell/NA/Enron@Enron
cc:

Subject: Fw: Ads you won't see...

 - KELLOGS_.JPG
 - GREENGIA.JPG
 - TUBBIES_.JPG
 - SANDWICH.JPG
 - BASTARDC.JPG


dana,

i had the e-sched. and marnie now has them.  When we take files out of the
cabinet, do we need to sign a in/out form?

brian

	From:  Dana Davis @ ECT                           01/31/2001 09:37 AM

To: Brian Schwertner/NA/Enron@Enron, Rosalyn Lum/Corp/Enron@Enron, Lisa
Best/Corp/Enron@Enron, Lisa King/HOU/ECT@ECT, Kristi
Fredericks/NA/Enron@ENRON, Laynie East/HOU/ECT@ECT, Susan
Rance/NA/Enron@Enron, Stacy Hardy/Corp/Enron@ENRON, Brian K
Dawson/NA/Enron@ENRON, Dana Davis/HOU/ECT@ECT, Tammy Barta/HOU/ECT@ECT,
Rufino Doroteo/HOU/ECT@ECT, Brad Carey/NA/Enron@Enron, Stephen
Wolfe/HOU/ECT@ECT
cc:

Subject: E-Schedules

Who has the E-schedules for co. 1n2 and 272?  Marnie is looking for them and
the aren't in the file cabinet.  Call me and I'll take them to her.

Thanks.

Dana


To All
I have done a cursory review of the requirements of the agencies contacted, and 2 significant itmes leap out.

#1 New Mexico BLM Permitting - Cultural Resources
David Simmons - Archeologist - Farmington BLM office quoted " Navajo ROW costs usually approximately $1MM/mile". THIS COULD MAKE AN UNECONOMICAL PROJECT FROM DAY 1

#2 Longest permit times are 1 year, which means that with a tentative schedule as follows:
FERC Filing - Sept/01 to March 30/02
FERC Approval - April 1/02 - April 1/03 - 1 year
Construction - April 1/03 - Jan 1/04 - 9 mos

In order to start construction by April 1/03 to achieve an in service in early 2004, application for specific long lead permits will need to be made April 1/02. This will require significant field work and design details prior to April 1/02. I doubt we will be ready to commit to such an undertaking this early in the process.

I suggest after the ENSR fatal flaw analysis is complete, a very comprehensive review of all permits and their relation to the critical path is undertaken.

-----Original Message-----
From: Patti, Scott [mailto:SPatti@ensr.com]
Sent: Friday, September 21, 2001 8:54 AM
To: Shafer, John; Hyatt, Kevin; Gadd, Eric
Cc: Schmidt, Jon; Taylor, Gina; Cebryk, Doug; Alstad, Jon
Subject: Agencies and NGOs already contacted for Sun Devil

US EPA, Regions VI and IX
US Forest Service - Coconino, Kaibab, and Prescott Forests
BLM - NM State Office, Farmington Field Office, AZ State Office, Phoenix
Field Office
US DOT
US Army Corps of Engineers - LA District and NM District
Navajo Nation - Mineral Department,
Arizona Game and Fish Department
Arizona Department of Environmental Quality
Arizona Department of Water Resources
Arizona Department of Transportation
New Mexico Department of Game and Fish
New Mexico Forestry Division
New Mexico Energy, Mineral and Natural Resources Department
New Mexico Environment Department
New Mexico Office of the State Engineer
New Mexico State Highway and Transportation Department
Union Pacific Railroad
The Nature Conservancy

Attached are most of the telephone call summary sheets from these
conversations and summaries of permit requirements.  We also have most of
the permit applications for any of the permits that we would be obtaining
from these agencies.  I am currently working on the telephone call summary
sheets for the Forest Service contacts.

Scott J. Patti
Senior Project Manager
ENSR International
1601 Prospect Parkway
Fort Collins, CO  80525
Phone: (970) 493-8878
Fax:     (970) 493-0213
Email:  spatti@ensr.com

-----Original Message-----
From: Shafer, John [mailto:John.Shafer@ENRON.com]
Sent: Friday, September 21, 2001 8:47 AM
To: Patti, Scott; Hyatt, Kevin; Gadd, Eric
Cc: Schmidt, Jon; Taylor, Gina; Cebryk, Doug
Subject: RE: Confidentiality of Sun Devil???

Yes, please forward a list to myself, Kevin and Eric.  Thanks, John

-----Original Message-----
From: Patti, Scott [mailto:SPatti@ensr.com]
Sent: Thursday, September 20, 2001 4:49 PM
To: Shafer, John; Hyatt, Kevin; Gadd, Eric
Cc: Schmidt, Jon; Taylor, Gina; Cebryk, Doug
Subject: RE: Confidentiality of Sun Devil???

We have already been in contact primarily with most of the state and
Federal
level agencies that exist in both AZ and NM as well as the Navajo
agencies.
I could get you a complete list of agencies we've contacted if you'd
like,
but almost every agency that would or could issue a permit in both
states
has been contacted.

Scott J. Patti
Senior Project Manager
ENSR International
1601 Prospect Parkway
Fort Collins, CO  80525
Phone: (970) 493-8878
Fax:     (970) 493-0213
Email:  spatti@ensr.com

-----Original Message-----
From: Shafer, John [mailto:John.Shafer@ENRON.com]
Sent: Thursday, September 20, 2001 2:49 PM
To: Hyatt, Kevin; Gadd, Eric
Cc: Patti, Scott; Schmidt, Jon; Taylor, Gina; Cebryk, Doug
Subject: RE: Confidentiality of Sun Devil???

Scott,
Please furnish a list of who you will be talking with.  (Caveat: Scott,
you certainly realize that you must provide the FERC with summary notes
of meetings with groups, agencies, etc. when we make the FERC filing -
so keep good notes).  John

-----Original Message-----
From: Hyatt, Kevin
Sent: Thursday, September 20, 2001 1:44 PM
To: Shafer, John; Gadd, Eric
Cc: 'SPatti@ENSR.com'; 'JSchmidt@ENSR.com'; Taylor, Gina; Cebryk, Doug
Subject: RE: Confidentiality of Sun Devil???

I spoke with Eric this afternoon.  We'd like a list of who ENSR is
talking with.  We recognize the need to be as open as we can with
stakeholders and consultees and concur with John's comment below.  We're
comfortable with Scott being able to show regulators a map of the
preliminary route.

thanks
kh

-----Original Message-----
From: Shafer, John
Sent: Wednesday, September 19, 2001 4:41 PM
To: Hyatt, Kevin; Gadd, Eric
Cc: 'SPatti@ENSR.com'; 'JSchmidt@ENSR.com'; Taylor, Gina; Cebryk, Doug
Subject: FW: Confidentiality of Sun Devil???

Kevin and Eric,
Please read Scott's question below.  I have no problem with being a
little more open with the regulators.  I would not publish anything in
the paper (as yet) showing a route, etc., etc. as that will only get the
landowners stirred up before we are ready.  What are your thoughts?  Are
you comfortable with Scott being able to show the regulators a map of a
preliminary route?  John

-----Original Message-----
From: Patti, Scott [mailto:SPatti@ensr.com]
Sent: Wednesday, September 19, 2001 4:30 PM
To: Cebryk, Doug; Shafer, John; Campbell, Larry
Cc: Kendrick, William; Hyatt, Kevin; Schmidt, Jon; Alstad, Jon; Wade,
Alisa
Subject: Confidentiality of Sun Devil???

In discussions with several agency personnel, it "appears" as though
they
are somewhat aware of Sun Devil.  Is it still to be treated as
confidential,
or can we discuss it more freely?  The main benefit I see, if we can
discuss
it more freely, is that many of the regulators have said things like "I
would need to see a route to be able to answer your question better."
Let
me know.  Thanks,  Scott

Scott J. Patti
Senior Project Manager
ENSR International
1601 Prospect Parkway
Fort Collins, CO  80525
Phone: (970) 493-8878
Fax:     (970) 493-0213
Email:  spatti@ensr.com

**********************************************************************
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relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************


----- Forwarded by Mark Taylor/HOU/ECT on 02/07/2001 05:00 PM -----

	Mary Solmonson/ENRON@enronXgate
	02/07/2001 01:32 PM

		 To: Sally Beck/HOU/ECT@ECT, Mike Jordan/LON/ECT@ECT, Bob M
Hall/NA/Enron@Enron, Brent A Price/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT,
Beth Perlman/ENRON@enronXgate, Peggy Hedstrom/CAL/ECT@ECT, James
Scribner/Corp/Enron@Enron, Debbie R Brackett/HOU/ECT@ECT, Brenda F
Herod/HOU/ECT@ECT, D Todd Hall/ENRON@enronXgate, Thresa A Allen/HOU/ECT@ECT,
Sheri Thomas/HOU/ECT@ECT, Kevin Sweeney/HOU/ECT@ECT, Shona
Wilson/NA/Enron@Enron, Robert Superty/HOU/ECT@ECT, Michelle
Bruce/HOU/ECT@ECT, Vanessa Schulte/Corp/Enron@Enron, Jennifer deBoisblanc
Denny/HOU/ECT@ECT, Steve Whitaker/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Scott
Mills/HOU/EES@EES, Laura E Scott/CAL/ECT@ECT, Richard Sage/LON/ECT@ECT, Beth
Apollo/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT, Murray P O'Neil/HOU/ECT@ECT,
Shari Mao/HOU/ECT@ECT
		 cc: Patti Thompson/HOU/ECT@ECT, Marvia Jefferson/HOU/ECT@ECT, Heather
Choate/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, Cherylene
Westbrook/ENRON@enronXgate, Adrial Boals/Corp/Enron@Enron, Yvette G
Connevey/Corp/Enron@ENRON, Sue Foust/HOU/ECT@ECT, Fiona McNaught/LON/ECT@ECT,
Zionette Vincent/NA/Enron@Enron, Jennifer Rosado/NA/Enron@ENRON, Salisha
Ramos/NA/Enron@ECT, Braedi Craig/NA/Enron@ENRON, Pamela Sonnier/HOU/ECT@ECT,
Mercy Gil/NA/Enron@Enron
		 Subject: More Dallas ASE Information

The start time for Tuesday morning has been changed from 9am to 8am.
Breakfast will be served at 7:30.  Therefore, shuttle pick up times at the
hotel for Tuesday morning have been changed to 7:10, 7:25, and 7:40 am.
Again, the last shuttle is not recommended if you intend to have breakfast at
the ASE.

Some of you had asked about a coordinated dinner for Sunday night.  Since
arrival times into Dallas vary greatly, we are leaving you to your own
devices for Sunday night.  We are however, planning a group dinner for Monday
night after we wrap up for the day.  We will arrange transportation from the
ASE to the restaurant and from the restaurant back to the hotel.  Currently,
Monday's agenda shows a completion time of 6:30pm.  Therefore, we are
planning to head to dinner directly from the ASE without a break or trip back
to the hotel.


John, I think we need business meetings where each group outlines its market views and strategies. We should also have some recreational activities. I would suggest the mountains or beach(Colorado or Florida). I would also keep it relatively small.


---------------------- Forwarded by Mark Taylor/HOU/ECT on 02/08/2000 10:55
AM ---------------------------

	From:  Mark Taylor                           01/18/2000 01:15 PM

To: Ted.Bockius@compaq.com
cc:
Subject: Photos

I thought your Mom might like the first three.


Folks,  since many law firms have failed to exit the dark ages, they continue to use wordperfect.  To open this, don't launch.  Instead, "detach."  Then open the file that you've "detached" and it should convert from WP to word and you should be able to open it.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 07/30/2001 06:12 PM -----

	Jeff Dasovich Sent by: Jeff Dasovich 07/30/2001 12:46 PM 	   To: Karen Denne/Enron@EnronXGate, mpalmer@enron.com, James D Steffes/Enron@EnronXGate, Richard Shapiro/Enron@EnronXGate, Susan J Mara/NA/Enron@ENRON, Paul Kaufman/Enron@EnronXGate, skean@enron.com, Linda Robertson/NA/Enron@ENRON, Janel Guerrero/Enron@EnronXGate, Susan M Landwehr/Enron@EnronXGate  cc:   Subject: First Amended Complaint

----- Forwarded by Jeff Dasovich/NA/Enron on 07/30/2001 12:46 PM -----

	"Michael Kirby" <mlk@pkns.com> 07/30/2001 12:43 PM 	   To: <jeff.dasovich@enron.com>  cc:   Subject: First Amended Complaint

Attached is a copy of Enron's First Amended Complaint.  If you have  suggestions or comments, you can reach Mr. Kirby on his cell phone (619)  985-9792.

The information contained in this e-mail message and any accompanying  documents is subject to the attorney-client privilege and/or the attorney work  product rule and is confidential business information intended only for the use  of the individual or entity named above.  If the reader of this message is  not the intended recipient or representative of the recipient, you are hereby  notified that any dissemination of this communication is strictly  prohibited.  If you have received this communication in error, please  notify the Systems Administrator at admin@pkns.com  and immediately delete this  message from your system.
 - 289823_1.WPD


-----Original Message-----
From: 	Diamond, Daniel
Sent:	Wednesday, January 30, 2002 2:58 PM
To:	DL-NETCO Gas Traders; DL-NETCO Power Traders
Cc:	Forster, David; Mandola, Teresa; Mcquade, Jennifer
Subject:	**IMPORTANT** Stack Manager Users
Importance:	High

We are in the process of confirming that all traders are set up correctly and ready to trade when the system goes live.

We need to make sure that your Stack Managers are accessing the correct database. In order to do this, we need to know how you access Stack Manager:

1) Through Terminal Server (the one that opens up a desktop within a desktop and it actually appears that you have two Start buttons).
or
2) By opening the Stack Manager directly from your "native" desktop.

Please reply to this message with either a corresponding "1" or a "2" in the subject field.

If you're not sure which one you have, please contact myself x39673, Teresa Mandola x39807 or Jennifer McQuade x53614 and we'll come by your desk to help you.

Thank you,

Dan Diamond


?

Hi  Folks,

I gotta say  before I get started that Monday Night Football,s &Pack" and
"Cats8 in the  scoring box was one of the more annoying moves they,ve made
this season.? &Cats8?? That,s so  lame.

Enough of that,  let's jump right into our Upgraded and Downgraded  Players.?
As we head down the home stretch, identifying those  players moving up or
down can be the difference between making the playoffs or  watching from the
sidelines.? As we  head into our 14th week of listing these players, it,s
inevitable  that some players will have made both the upgrade or downgrade
list.? Make sure you understand, what we,re  talking about is players that
are moving.?  In other words, a player like TE Chad Lewis could appear on the
downgrade  list and still be good enough to be a starter in your league.? It
just means I,m concerned about the  way he seems to be heading.?  Likewise, a
player like WR Willie Jackson may make the upgrade list even  though he,s
still fairly far down the list of WRs.? It,s all about which direction
players  are moving.? Keeping an eye on these  trends can very often make all
the difference.

Joe

?

Upgrades and  Downgrades.? Some of these  players are obvious moves up or
down and some aren't as clear.? Here's my  list of guys I see moving this
week.

QBs Moving  Up?

QB Kordell  Stewart (Pit)? Time to give props where props are  due.? Kordell
looks like a new  man.? Actually, he looks like the  old Kordell.? The GOOD
old Kordell.  Over the last three weeks, he ranks as the # 5 QB in my
Performance / TD system  based on FF points per game.? Gotta  hand it to Bill
Cowher as it took some guts to bench the starting? WRs like that but Hines
Ward has  delivered.? It,s probably not the  best thing for Jerome Bettis
owners but Stewart,s 3 rushing TDs over the last 3  weeks are huge.?

QB Aaron  Brooks (NO)? Brooks made my upgrade list last week  and I put my
money where my mouth was outbidding the other owners in my league  to pick
him up? last week as a free  agent.? I said last week that we,d  see how he
does with the pressure on all week.? Obviously, this is one cool kid.? If you
saw the footage of him in the  tunnel before the game he looked like he was
ready to go out and play a game of  flag football or something.? He made
some mistakes and fought back from adversity several times.? The obvious
comparison is a young  Randall Cunningham.? He,s skinny and  has a little bit
of those Cunningham crazy legs.? Plus he,s got a big arm with that whippy
motion.? But the biggest thing that  impresses me about Brooks is his poise.?
 Grab him if he,s available in your league.?

I asked my  friend Tony Pauline from the TFY Draft Preview about Brooks.?
Tony had him ranked higher than Shaun  King before the draft. Here,s what the
1999 TFY Draft Preview had for  Brooks:?

AARON BROOKS  Virginia 6'3" 210 4.71

Fifth year senior who completed 54% of his passes  throwing for 2,319 yards,
12 touchdowns and nine interceptions and carrying the  ball 83 times for 232
yards, averaging 2.8 yards per carry with five more  scores.? Led the ACC in
passing efficiency two seasons ago, throwing for  57% / 2,282 / 20 / 7.? Good
athlete who has shown great improvement in his  quarterback skills the last
season and a half.? Smooth and fluid, sets his  feet in the pocket, shows
good strength and stands his ground when being  rushed.? Has a live arm; can
thread a needle, throws ropes and his deep  passes have speed.? Effective
throwing on the run, squares his shoulders  and quickly releases the ball.
Eludes or side steps oncoming rushers, pulls the  ball down, running between
the tackles.? While he has improved his accuracy  and places his passes well,
he often overthrows receivers.? The further  down the field or out to the
flanks he must get the ball, the more his accuracy  struggles.? Must do a
better job reading and recognizing defenses, stop  staring down his primary
target and not hold the ball so long while in the  pocket.? A player who
turned himself into a good prospect with a solid  senior campaign.? Mid to
late Sixth Round.?

Thanks  Tony.? Be sure to check out Tony,s  great info at
www.TFYDraftPreview.com?

QB Kurt  Warner? (StL)?? Warner,s chomping at the bit and has been named the
starter this week relieving Trent Green.?  Keep an eye out on how he looks in
practice.? Coach Mike Martz said last week he was  concerned about Warner,s
grip strength and ability to put rotation on the  ball.? I,m thinking he,ll
be good to  go.?

QB? Donovan McNabb (Phi)? What  else can you say about this guy??  Take away
his running game??  No problem.? Give him WRs  that would? struggle to make
a  division I team? ?No problem.? He finds a way to get it done.? He looks to
me like he,s beginning to  reach the level of dominance he enjoyed at
Syracuse where he was  unstoppable.? It,s especially  impressive as teams
know what he,s going and still can,t stop him.? It should be noted that
LaVarr Arrington  was injured early and he was the designated &spy8 but
still, it was an  impressive performance against a very good Washington
defense.? I see little reason why he won,t  continue although he really needs
help at WR.?

QB Trent  Dilfer (Bal)? I said a couple of weeks ago that Dilfer  might play
the late season 1999 Tony Banks role as coach Brian Billick revives  another
struggling? QB,s  career.? Dilfer seems very  comfortable with what Billick
is asking him to do and brings a little fire and  attitude to the offense
that had been missing.? I like what they,re doing and don,t see  why it won,t
continue.? Although  don,t forget they,re off this week.

QB Brad  Johnson (Was)? Jeff George yields to the young man from  Florida
State.? His knee is  reportedly good to go and he,s been cleared by the
trainers as fit to  start.? Considering the troubles the  team endured with
George at the helm, Johnson has already been named the  starter.? He,ll be
working with a  nicked WR corps so we,ll see how he fares.?

QB Ryan Leaf  (SD)? Kordell Stewart, Trent Dilfer and Ryan  Leaf?? You gotta
be kidding me.? But after another solid outing, you  can,t deny Leaf is
making plays.?  Granted, he still throws the ugly interception(s) and he gets
hurt almost  as much as Rob Johnson but the kid could make a difference for
you if you need a  spot QB.? He,s got one of the top 3  TEs in the game with
Freddie Jones and Curtis Conway and Jeff Graham are  veterans who can make a
difference.?  This win will have to buoy the spirits and  enthusiasm.

??

RBs Moving Up?

RB Mike  Anderson (Den)? Once is a coincidence.? Twice is a trend. You,ve got
to start  handing credit to Mike Shanahan, Offensive Coordinator Gary Kubiak,
and that  offensive line. Like everyone else, I marveled at the way Olandis
Gary was able  to run last year when Terrell Davis went down.? What a great
job of scouting we all  thought.? But hey, Gary was a pretty  highly touted
back.? But Mike  Anderson???? Anderson,s a  fine back but I,ve got to believe
it,s a team deal here.? The good news is that Anderson,s team  isn,t going
anywhere without him and he looks to remain a factor while Terrell  Davis
recovers from the mystery lower leg ailment.? Watch this during the week, but
it  wouldn,t surprise me a bit to see Davis miss another game. ?And as long
as Anderson rolls up 195  rushing yards a game like he did Sunday, you won,t
see Shanahan crying over TD  being out.? Granted 80 of those  yards came on
one big run but he had a great game any way you slice  it.?

RB Jamal  Lewis (Bal)? I,ve been eating crow (Raven?) for a  while now as I
was one of those guys not convinced Jamal Lewis would excel at  this level
after a very disappointing 1999 season at Tennessee.? Lewis is running like
he did as a  Freshman and Sophomore before the knee injury and he may have
the best blend of  speed and power in the league this side of Eddie George.?
Coach Brian Billick has the Raven  offense firing on all cylinders and Lewis
remains a huge part of it.? His only down side is that he,s off this  week
with a bye.? But that week 16  matchup against Arizona is looking very
tasty(?

RB Corey  Dillon (Cin)? Considering what he does with that  surrounding cast,
I could make a strong case that Corey Dillon is the best back  in the NFL.?
There have been few  passing attacks in recent memory as impotent as the
Bengals, yet Dillon  continues to pound out the yards when defenses know
exactly what,s coming at  them.? It,s amazing to watch.? I don,t know how
long he can keep it up  but he,s got the woeful Cardinals this week and you
have to like  that.?

RB Warrick  Dunn (TB)? Dunn made the upgrade list last week in  the wake of
Mike Alstott,s knee injury and he delivered in a big way for his  owners
Sunday with 129 total yards including 2 TDs.? There was some talk about him
sharing  carries but he was the only guy besides QB Shaun King to run the
ball for Tampa  Bay.? Look for more of the same from  the Bucs and new
offensive coordinator Warren Sapp(? Seriously, Dunn showed he could handle
20 rushing attempts and I think you,ll continue to see them go with what,s
working.?

RB Michael  Pittman (Ari)? Pittman may be the lone bright spot on  the
Arizona team.? I told you last  week that coach McGinnis loves the guy and
you saw the results last night as  Pittman rambled for 77 yards on only 13
carries (5.7 ypc)? Like Corey Dillon, the surrounding team  kills his value
but if he ran for a team that held a lead, he,d be awesome.? Unfortunately, I
don,t see Arizona  turning into such a team anytime soon so don,t get too
excited.? But overall, I like the guy a  lot.?

RB Richie  Anderson (NYJ)? Each year, there are always unheralded  guys who
post nice numbers but remain well below the radar of many owners.? Many times
they are RBs who quietly post  yardage (and FF points) receiving the ball.?
Anderson is a prime example of one such  player this year (as?are Tony
Richardson and Stanley Pritchett)? He,s caught 15 passes over the last 3
games and with Curtis Martin nursing a sore gluteus maximus, that trend will
likely continue.???

RB Robert  Holcombe (StL)? It doesn,t take a rocket scientist to  see that
Marshall Faulk isn,t 100%.?  Red flags went up across the country when Mike
Martz elected to give  Holcombe that shot at the goalline Sunday.?  6 weeks
ago, that would have been Faulk,s carry all day long.? Holcombe looks to
benefit if Faulk,s  workload continues to be decreased.?

RB Brad  Hoover (Car)? Aside from having one of those cool  names the fans
can yell whenever he does something good, Hoover has shown to be  a capable
replacement for candybone Tshimanga Biakabutuka.? He doesn,t have the
physical tools of a  Biakabutuka but you can,t deny he hasn,t been
effective.? It wouldn,t surprise me a bit to see  Hoover continue to see
action.

??

WRs Moving Up

WR Marvin  Harrison (Ind)? Harrison stated before Sunday,s game  that he
needed to &get on a mission8.?  Looked like he started towards that end with
2 TD catches and he could  have had another.? Yes, you,d like  to see more
than 4 catches but I,ll take 2 TDs any week.? Harrison,s biggest worry is
that Peyton  Manning can stay calm enough not to strangle Jerome Pathon for
dropping easy  balls.? Harrison is fine and  actually looking better in my
eyes.?

WR Hines  Ward (Pit)? Does anyone else find it interesting to  see Kordell
Stewart throwing the ball to another &slash8 type player in Hines  Ward??
Ward doesn,t have the name of  a Plaxico Burress but he,s certainly more
productive.? If I,m Burress, I,d be for finding a  baseball cap that I was
comfortable with(?

WR Amani  Toomer (NYG)? Toomer,s back in a big way.? He had us worried there
for a stretch  earlier but he,s playing very well right now, especially with
Ike Hilliard  out.? QB Kerry Collins has settled  into a nice rhythm and
coach Jim Fassell is sticking his neck out guaranteeing a  playoff slot.?
Look for?Toomer  and Collins to be a big part of making that happen.

WR Sean  Dawkins (Ind)? With his size (6, 48 / 218 #) I,ve  always wondered
why he isn,t better.?  He,s showing over the last few games that maybe he
is.? Over the last 3 games, he rates as the #  5 WR in Fantasy Points per
game.? It  doesn,t seem to make a great deal of difference to him whether it,
s Jon Kitna or  Brock Huard throwing the ball, he just delivers.???

WR Peter  Warrick (Cin)Garbage time or not,  he scored another TD this week
and he,s a great gamble if you need to roll the  dice for a home run.? Yes,
he,s as  liable to go 2 for 18 as he is score a TD but sometimes, those are
the kinds of  gambles that pay big.? The team  reportedly was forcing him to
see an eye doctor for contact lenses.? This could be like Charlie Sheen in
Major League with the new glasses.?  Seriously, if he,s had bad vision that,s
been limiting him, look out once  he gets the contacts.?

WR Joe  Jurevicius (NYG)? With Ike Hilliard out, Jurevicius got  all he ever
wanted ) a chance.? And  he,s making the most of it.? He,s  clearly the #2 WR
behind Toomer but when this offense is clicking, the #2 guy  has definite
value.? Keep an eye on  Hilliard,s return but he could be a nice sub if you,
re in a  pinch.?

WR Willie  Jackson (NO)? Jackson is looking less &fluky8 with  each game.??
He put together a  nice day Sunday with 4 catches for 64 yards.? Like
Jurevicius, he,s the clear cut # 2  receiver but he,s certainly valuable.?
QB Aaron Brooks has surprised everyone and Jackson should continue to
benefit.?

WR R. Jay  Soward (Jac)? I,ll be honest, I really don,t like  Soward much but
you can,t dismiss the fact Mark Brunell seemed to almost be  forcing the ball
to him on the long throws.? He,ll draw the weaker coverage (and  rightly so)
when Jimmy Smith and Keenan McCardell are in the lineup so he could  have
some mismatches.?

??

TEs Moving Up?

TE Freddie  Jones (SD)? Jones is still under the radar of a few  owners as he
plays for the Chargers.?  Truth is,? he,s one of the  better receivers in the
game and definitely the best receiver in San Diego.? He,s a nice big target
with soft hands  for new QB Ryan Leaf.? He,s had 11  receptions over the last
3 games.?

TE Jay  Reimersma (Buf)? Reimersma,s returning to the player we  knew he
could be.? With 5 receptions  for 82 yards Sunday, he,s a vital part of the
offense. ?With WRs Peerless Price and Jeremy  McDaniel not doing much, it,s
pretty much Eric Moulds and  Reimersma.

TE David  LaFluer (Dal)? With Jackie Harris nursing a sprained  knee, LaFluer
seized the opportunity and put together an excellent game with 6  catches for
45 yards and a TD.? Keep  an eye on Harris but this could be a trend.

TE Anthony  Becht (NYJ)? Becht earns the upgrade just for the  beautiful
diving TD catch Sunday.?  At this point in the season, rookies aren,t really
rookies any more as  most have enough experience that they,re learning the
ropes.? Becht appears to be a fast learner and  could give this team a huge
boost with solid TE  play.

??

QBs Moving Down?

QB Jeff  George (Was)? Audition time is over.? Didn't you have the feeling
owner Danny  Snyder would have loved for his pet QB George to go wild before
Brad Johnson  sits down to the negotiating table to talk about next year (if
they ever do  that)? Instead, he looked very  average and even a little bit
old.?  Brad Johnson will get the start this week.? You never know with knee
injuries so  George certainly still has value, just nothing like he did as a
starter.

QB Trent  Green (StL)? Chris Berman made a great point last  night on ESPN,s
Prime Time.? Trent  Green is a nice player but let,s forget this talk about
him being the same  player as Kurt Warner.??  Another loss for the Rams
pretty much guaranteed we,ll see Warner this  week.? The Rams are suddenly
fighting for their lives and it won,t be Green behind center.?

QB Shane  Matthews (Chi)? The University of Florida has a great  program and
always places a large number of players at the next level but  Matthews looks
to be another shot putting QB that simply can,t deliver the ball  at this
level.? It,s a testament to  coach Steve Spurrier that he can devise systems
to make guys like Matthews and  Danny Wuerffel look great in college because
they clearly lack the talent.? Put it this way, Matthews has Bears fan
wishing Cade McNown will get back soon(

QB Drew  Bledsoe (NE)? Whether it,s the thumb or the WRs or the  play
calling, Bledsoe is struggling.?  I used to blame this on Bill Belichick
coming up with a Jets defense that  shattered Bledsoe,s confidence and threw
him into a tailspin this time of year  but now I,ll have to start looking for
other theories.?? As Terry Glenn said, & it felt  like the defense knew
exactly what we were going to do8.? That,s bad for a Thursday  game.

??

RBs Moving Down?

RB Emmitt  Smith? (Dal)? As you  probably saw, Emmitt was knocked out for a
moment during the Thanksgiving Day  game.? Check his status this  week.? Even
100%, he faces a tough  stretch of games to finish the season against Tampa
Bay, Washington, New York  Giants, and Tennessee.?

RB J.J.  Johnson (Mia)? Johnson had a nice game Sunday but early  indications
are that Lamar Smith will be ready to play this week and that means  Johnson
takes a seat.?

RB Jamal  Anderson (Atl)? It looks to me like the Falcons are very  close to
packing it in.? He may be  worth one more start against the porous Seattle
defense this week but after  that, he,s got a bye and then New Orleans.?

RB Marshall  Faulk (StL)? Understand, he,s still a top RB, but I think his
value is clearly falling a bit.? He  looks less than 100% but the most
telling indicator by far was the Robert  Holcombe goalline carry.? 6 weeks
ago, no way does Holcombe get that carry.?  He,s still a must start and
Warner will likely help his stock but I,m a  little worried.?

RB Curtis  Martin (NYJ)? The weather conditions made it tough to  get a true
picture of Martin,s health but it was pretty easy to see he wasn,t  100%
Sunday.? Between Bernie  Parmalee and Richie Anderson, coach Al Groh has
plenty of options and he doesn,t  hesitate to go with them.?

RB Jermaine  Fazande (SD) ?The big guy yields to Terrell Fletcher  and looks
to have lost his starting job.?  Not a huge loss as I doubt you were counting
on him for too much  anyway.

??

WRs Moving Down?

WR Yancey  Thigpen (Ten)? Drop this guy if you haven,t  already.? He misses
games with a  myriad of injuries and when he does see the field, he manages
to drop key  passes(?

WR Marcus  Robinson (Chi)? One has to wonder what could have been  with Jim
Miller healthy.? Shane  Matthews managed to get the ball to his best WR a
whopping one time Sunday.? That will not do.?

WR Sylvester  Morris (KC)? Morris has been especially disappointing  as one
usually expects rookies to progress during the season but he seems to be
going the other way.? Over the last  3 weeks, he ranks as the # 81 WR in my
TD / Performance system.? Part of that can be attributed to Elvis  Grbac /
Warren Moon but he,s not playing well right now.?

WR Terance  Mathis (Atl)? Mathis ranks # 72 among WRs over the  last 3 games
in my TD / Performance system.? That,s not what you,re looking for from  a #
1 WR, even if it is the Falcons.???

Eagle  WRs? These guys are just not very good.? I had especially high hopes
for Charles  Johnson this year but he,s not getting it done.???

WR Wayne  Chrebet (NYJ)? As sick as I was of Keyshawn Johnson  whining about
Chrebet not being a #1 WR, it looks he may have had a point.? Chrebet just
doesn,t have the speed or  physical size to make a? consistent  impact when
defenses choose to take him out of the game.? I love the guy and admire his
grit and  determination but he struggles against double coverage.? And most #
1 WR face double  coverage(?

?

TEs Moving Down

TE Andrew  Glover (NO)? A rising tide is supposed to lift all  boats but
nobody told Glover about that little axiom.? The Saints continue to roll in
spite of  a virtually non existent TE.?

TE Jackie  Harris (Dal)? Keep an eye on Harris as he sprained a  knee Sunday
and gave way to David LaFluer catching a ton of passes.?

TE Ricky  Dudley (Oak)? He,s maybe the most frustrating player  in the game.?
As soon as you bench  him, he,ll catch 2 TDs but I don,t know how many more 1
reception days I can  take from this guy.?

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Paul,

An Amendment to Appendix "C" will need to completed by both the pool that the
meters are being transferred from and the pool that the meters are being
transferred to.  I have discussed this issue with Heidi Boyd at Columbia
Energy
and I believe she will complete this form on their behalf in order to delete
the
meters.  You will also need to complete this form in order to add the meters
to
Clinton's LGA pool once the Pooling Agreement has been completed and the pool
becomes effective.  I will fax the form to Heidi this morning.  It must also
be
signed by the producer.  Please confirm your fax number (614-760-2794) and I
will be happy to fax the form to you as well.

Carol

"Paul J Leanza" <pleanza@enron.com> on 07/13/2000 05:34:12 PM

To:   Carol A. Miller/HQ/PG/CNG@CNGNOTES
cc:   kdestep@ceg.com, dkinney@ceg.com, "Chris Germany"
      <Chris_Germany@enron.com>, "John Dietrich" <jdietric@enron.com>, "Ron
      Surwill" <rsurwill@enron.com>, hboyd@ceg.com
Subject:  Re: Local Production July 00

Carol,
Once our production pool is set up, I would like to transfer the CES/ENA
meters
into our pool.  What do you need from me to transfer these meters?

Thanks,
Paul

---------------------- Forwarded by Paul J Leanza/DUB/EES on 07/13/2000 05:23
PM
---------------------------

Chris Germany@ECT
07/13/2000 04:58 PM

To:   Paul J Leanza/DUB/EES@EES
cc:
Subject:  Re: Local Production July 00

---------------------- Forwarded by Chris Germany/HOU/ECT on 07/13/2000 03:58
PM
---------------------------

hboyd@columbiaenergygroup.com on 07/13/2000 12:58:49 PM

To:   " - *Carol_A_Miller@dom.com" <Carol_A_Miller@dom.com>
cc:   " - *Destephanis, Kara" <kdestep@columbiaenergygroup.com>, " - *Kinney,
      Doug" <dkinney@columbiaenergygroup.com>, " - *chris.germany@enron.com"
      <chris.germany@enron.com>
Subject:  Re: Local Production July 00

Hi Carol,

Can you help me with the below information?  I am looking to turn over our
local production.  After August we won't be in business anymore and this local
production that is in our name is really Enron North America's local
production.   I had suggested that Enron (Chris Germany) set up a local agg
pool or if he was selling it to someone else to let me know so that we can
turn
this production over ASAP.   I am looking to write a letter to Peoples to give
them formal intent and need to know if I need to include meter identification
numbers in the letter (currently I do not know what these numbers are).

I apologize for this being such a mess, but I have been trying to get this
cleared up and seem to have no luck.

Thanks again for your help.

cc:
Subject:  Local Production July 00

Hi Karen,

Please nominate a volume of 24,800 dth's for the month of July 00 for CES'
local production.

Please let me know if you need something more from me.  I understand that
Clinton Energy is setting up a pool and will soon be able to take over our
local production.  I will be sending in a letter soon relinquishing the local
production, is there a meter number or identification number that I will need
to mention in the letter?

Thanks,
Heidi Boyd
703-561-6496