I have received Credit's comments and will try to turn around comments soon.

Marie

 -----Original Message-----
From: 	"Perkins, Todd A." <TAPERKIN@southernco.com>@ENRON [mailto:IMCEANOTES-+22Perkins+2C+20Todd+20A+2E+22+20+3CTAPERKIN+40southernco+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, September 17, 2001 9:09 AM
To:	Heard, Marie
Subject:	RE: Southern Company ISDA Master Agreements

I still have not received any comments/feedback on the ISDA Schedule draft
forwarded to you on 7/27/01.  The last time we spoke, you said that you were
still waiting on some comments from your credit group.  I would very much
like to get the process moving again.  If there is something I can do to
expedite the process please let me know.  Also, please let me know if you
have tried to send something to me that hasn't gone through.  My email
address and phone number are below.

Todd A. Perkins
taperkin@southernco.com
(404) 506-0655

> -----Original Message-----
> From:	Perkins, Todd A.
> Sent:	Thursday, August 23, 2001 9:44 AM
> To:	'Heard, Marie'
> Subject:	Southern Company ISDA Master Agreements
>
> We have been working on ISDA's with you for several of our subsidiaries
> (Georgia Power Company, Mississippi Power Company, Gulf Power Company and
> Savannah Electric and Power Company).  Up to this point, we have wanted to
> execute an ISDA for each of these companies.  Due to the way in which we
> operate our generation assets as a single system, we have decided that we
> need to change the way in which we enter these ISDA's.  We would like to
> execute a single ISDA with you that includes six of our subsidiaries.
> This is how we have entered some of our physical trading contracts.  In
> this arrangement, the counterparty on Southern's side would be listed as,
>
> "Southern Company Services, Inc. as agent for Alabama Power Company,
> Georgia Power Company, Gulf Power Company, Mississippi Power Company,
> Savannah Electric and Power Company, and Southern Power Company"
>
> By using this approach, we have more flexibility in entering trades and it
> provides even stronger credit protection for you since all six of these
> companies are on the hook.  Probably the best way to proceed is for you to
> forward your comments back to me from the last draft I sent to you.  I
> will then make the changes to reflect this approach described above and
> send back to you.  I look forward to receiving your comments back.  Please
> give me a call if you have any questions.
>
> Thanks,
>
> Todd A. Perkins
> taperkin@southernco.com
> (404) 506-0655
>
> 	-----Original Message-----
> 	From:	Perkins, Todd A.
> 	Sent:	Friday, July 27, 2001 10:15 AM
> 	To:	'Heard, Marie'
> 	Subject:	RE: Draft ISDA Master Agreements
>
> 	Here are the ISDA Schedules for Georgia Power, Mississippi Power,
> and Savannah Electric with our comments.  Please let me know when you are
> ready to discuss.
>
> 	Todd Perkins
> 	Southern Company
> 	404-506-0655
>
> 	 << File: Enron - Georgia ISDA Schedule.doc >>  << File: Enron -
> Mississippi ISDA Schedule.doc >>  << File: Enron - Savannah ISDA
> Schedule.doc >>
>
> 		-----Original Message-----
> 		From:	Heard, Marie [SMTP:Marie.Heard@enron.com]
> 		Sent:	Thursday, July 12, 2001 11:56 AM
> 		To:	taperkin@southernco.com
> 		Subject:	FW: Draft ISDA Master Agreements
>
>
> 		Hope this reaches you this time.
>
> 		Marie
> 		>  -----Original Message-----
> 		> From: 	Heard, Marie
> 		> Sent:	Wednesday, July 11, 2001 5:01 PM
> 		> To:	'taperkin@southernco.com'
> 		> Cc:	Espinoza, Veronica; Boyd, Samantha; Panus,
> Stephanie; Hendry,
> 		> Brent
> 		> Subject:	Draft ISDA Master Agreements
> 		>
> 		> Mr. Perkins:
> 		>
> 		> Pursuant to Veronica Espinoza's request, I am attaching
> the following
> 		> for your review:
> 		>
> 		> 1.	Schedule to the ISDA Master Agreement and Paragraph
> 13 to the
> 		> ISDA Credit Support Annex between Enron North America
> Corp. ("ENA")
> 		> and Savannah Electric and Power Company.
> 		>
> 		> 2.	Schedule to the ISDA Master Agreement and Paragraph
> 13 to the
> 		> ISDA Credit Support Annex between ENA and Georgia Power
> Company.
> 		>
> 		> 3.	Schedule to the ISDA Master Agreement and Paragraph
> 13 to the
> 		> ISDA Credit Support Annex between ENA and Mississippi
> Power Company.
> 		>
> 		> Please do not hesitate to contact either Brent Hendry,
> Senior Counsel
> 		> at (713) 853-7124 (brent.hendry@enron.com) or me should
> you have any
> 		> questions or comments.  We look forward to hearing your
> comments.
> 		>
> 		> Marie Heard
> 		> Senior Legal Specialist
> 		> Enron North America Corp.
> 		> Phone:  (713) 853-3907
> 		> Fax:  (713) 646-3490
> 		> marie.heard@enron.com
> 		>
> 		>
> 		> 				 <<020ctr(savannah).doc>>
> <<106
> 		> ctr (Georgia Power Co).doc>> 	 <<153ctr(miss power).doc>>
> << File: 020ctr(savannah).doc >>  << File: 106 ctr (Georgia Power Co).doc
> >>  << File: 153ctr(miss power).doc >>


Looks good.  I suggest eliminating the reference to Southern in the 3rd para
(end the sentence after "operating an RTO.")(since we are going to visit with
Southern later this week,)  Thanks.

James D Steffes@ENRON
06/24/2001 10:34 AM
To: Richard Shapiro/NA/Enron@Enron
cc: Christi L Nicolay/HOU/ECT@ECT, sscott3@enron.com

Subject: Transelect Letter

Rick --

Here is a proposed letter from you to Paul Buckman.   Pls review and send out
as appropriate.

Christi & Susan -- Any comments should go to Rick by early Monday.

Jim


A helpful FERC order as we work on asset management deals:

New Horizon Electric Cooperative Inc. v. Duke Power Company, EL00-101-001.
Order on Rehearing. Order issued October 11, 2000 addressing a complaint by
New Horizon Electric Cooperative, Inc (New Horizon) against Duke Power Co.
(Duke) seeking FERC resolution of four disputed issues, including treatment
of energy imbalances not prevented by dynamic scheduling. New Horizon's
complaint claimed that energy imbalance service does not apply to it, since
it will employ dynamic scheduling to effectively remove its load from Duke's
control area. Further, New Horizon maintained that any deviation between the
dynamic schedule and the actual metered delivery of energy constituted
inadvertent interchange energy (which is the net difference between actual
and scheduled interchange energy between two control areas) and proposed that
any differences would be returned in-kind within two hours. On November 9,
New Horizon filed a request for rehearing or clarification of the October 11
Order. Order issued February 26 granting New Horizon's request for rehearing
or clarification of the October 11 Order. Order clarifies that, to the extent
dynamic scheduling by New Horizon operates successfully; New Horizon should
not be subject to charges under Duke's Schedule 4 Energy Imbalance Service.
In such circumstances, any imbalances between energy deliveries on behalf of
New Horizon and New Horizon's load should be accounted for by Duke as
inadvertent interchanges only. In addition, Order directed parties to
negotiate in good faith to establish a standard for the successful operation
of dynamic scheduling.


Following please find the Weekly Management Report and the Daily Executive
Summary.

EnronOnline Executive Summary for 10/20/00
Transaction Summary
External Transactions Today	2,640
Average Daily External Transactions (30 day Trailing Avg)	2,808
Total Life to Date Transactions	372,472

EnronOnline Daily % of Entity's Total Transactions for 	10/20/00
Enron North America	73%
Enron Europe Limited	31%
GLOBAL PRODUCTS	35%
Enron Metals	14%

EnronOnline Percentage of Total Corporate Transactions
(30 day Trailing Avg)	45%

Gross Notional Value of EnronOnline Transactions	Total
Today	1,877,925,479
MTD	29,722,338,862
LTD	198,414,573,134
Average Daily Notional Value (30 Day Trailing Avg)	1,923,363,137

Notional Revenue from Physical Flows to Date	13,907,358,607

Counterparties, Users, and Products Offered
Counterparties having transacted to date	526
New Counterparties transacting for the first time today	2
Number of Products Offered Today	1,155
Total Number of External Users Logged on Today	2,583
Average # of External Users logged on (30 day Trailing Avg)	2,557

Also attached is the Weekly Public Domain Report, containing information
which is intended for use in presentations or reports which will be seen by
individuals outside Enron.


hello everyone,

Please confirm this trade under credit previously provided, using the exact
terms incorporated into that confirmation previously prepared and provided
for trade nt6155, legs 1,2,3.  In the future, any deals entered into with
this customer should be confirmed under these credit terms.

Thanks
brant


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James: I hope you were not offended when I wrote to you directly several
weeks ago (without introduction) about my hopes to talk to you about a
transactional lawyer position on your team.  Might you need another
hardworking, big firm trained lawyer with lots of complex outsourrcing and
transactional experience?  I think my training and experience would suit me
well to hit the ground running. I would be thrilled with the chance to
talk. Let me know and I can resend my resume. Look forward to talking soon.

James.Derrick@enron.com wrote:

> I will be unable to access e-mail from Tuesday, May 8 through Wednesday,
> May 16.  I will access voice mail each day. Jim Derrick

--
Gregory Alan Rutchik, Esq.
650-224-2621
greg_rutchik@yahoo.com

_________________________________________________________
Do You Yahoo!?
Get your free @yahoo.com address at http://mail.yahoo.com


----------
From: 	Joshua Weber
Sent: 	Monday, November 26, 2001 1:56 PM
To: 	Mark Brizendine; Mark Flum; Eric Fischesser; Alex Herman
Subject: 	FW: Litle Johnny

----------
From: 	C. Corey Rice
Sent: 	Friday, April 27, 2001 2:42 PM
To: 	Roger Hayes; 'Tony Tricase'; 'Scott Dillon'; 'Ron Rice'; 'Nathan
Huber'; 'Mike Higgins'; 'Mike Hammann'; 'Lori Watson'; 'Kevin Watson';
'Justin Baker'; Joshua Weber; 'Josh Henry'; 'Jon Franconia'; 'John Neusel';
'Jason Sanders'; 'Holly Hruska'; 'Geoff Luber'; 'Drew Dickerson'; 'Darren
Betz'; 'Clay Shulhafer'; 'Chris Carmicle'; 'Cary Mckiernan'
Subject: 	Litle Johnny

Little Johnny

LITTLE JOHNNY AND THE CONDOM
Little Johnny walked into his dad's bedroom one day only to catch him
sitting on the side of his bed sliding a condom onto his penis in
preparation of sex with his wife. Johnny's father in an attempt to hide his
full erection with a condom on it bent over as if to look under the bed.
Little Johnny asked curiously "What ya doin dad? His father quickly
replied, "I thought I saw a rat go underneath the bed." To which Little
Johnny replied "What ya gonna do, fuck him?"

LITTLE JOHNNY AND THE VAGINA
Little Johnny's mother decided to give her son an anatomy lesson one day,
so she took off all of her clothes and pointed to her vagina, and said,
"Johnny, this is where you come from." Johnny went to school the next day
smiling and insisting that all his friends now refer to him as Lucky Johnny
"Why?" one asked. Johnny held his fingers an inch apart and said, "Because
I came this close to being a turd."

LITTLE JOHNNY, THE SMART ASS
A traveling salesman rings the doorbell and 10-year-old Little Johnny
answers, holding a beer and smoking a fat cigar.  The salesman says, little
boy, is your mother home?" Little Johnny taps his ash on the carpet and
says, "What the fuck do you think?"

LITTLE JOHNNY AND TEACHERS
Little Johnny returns from school and says he got an F in arithmetic
"Why?"  asks the father. "The teacher asked 'How much is 2x3?' I said '6'"
"But that's right!"  "Then she asked me 'How much is 3x2?'" "What's the
fucking difference?"  asks the father. "That's what I said!" replied Little
Johnny

JOHNNY AND THE MULTI-SYLLABLE WORD
Little Johnny goes to school, and the teacher says, 'Today we are going to
learn multi-syllable words, class. Does anybody have an example of a
multi-syllable word?' Little Johnny waves his hand, 'Me, Miss Rogers,  me,
me!' Miss
Rogers: All right, little Johnny, what is your multi-syllable word?  Little
Johnny says, 'Mas-tur-bate.' Miss Rogers smiles and says,'Wow, little
Johnny, that's a mouthful.' Little Johnny says, 'No, Miss Rogers,you're
thinking of a blowjob."

LITTLE JOHNNY AND BABIES
Little Johnny came running into the house and asked, "Mommy, can little
girls have babies?" "No," said his Mom, "of course not." Little Johnny
then ran back outside and his Mom heard him yell to his friends, "It's
okay, we can play that game again!"

LITTLE JOHNNY AND GOING TO THE BATHROOM
Little Johnny was sitting in class one day. All of the sudden, he needed to
go to the bathroom. He yelled out, "Miss Jones, I need to take a piss!" The
teacher replied, "Now, Johnny, that is NOT the proper word to use in this
situation. The correct word you want to use is 'urinate.' Please use the
word 'urinate' in a sentence correctly, and I will allow you to go." Little
Johnny thinks for a bit, then says, "You're an eight too, but if you had
bigger tits, you'd be a ten!"

LITTLE JOHNNY AND GRAMMAR
One day, during a lesson on proper grammar, the teacher asked for a show of
hands from those who could use the word "beautiful" in the same sentence
twice. First, she called on little Suzy, who responded with, "My father
bought my mother a beautiful dress and she looked beautiful in it." "Very
good, Suzy," replied the teacher. She then called on little Michael. "My
mommy planned a beautiful banquet and it turned out beautifully," he
said.   "Excellent, Michael!" Then, the teacher called on little Johnny.
"Last night, at the dinner table, my sister told my father that she was
pregnant,  and he said, 'Beautiful, .......just fucking beautiful!'"

C. Corey Rice
APB Construction Solutions, Inc.
Phone: (502) 664-6646
Fax:     (502) 327-1435
www.apbcs.com


Please see my comments to the attached GE TPA which John sent out on May
22nd.  In it Ihave asked John to get Rose Engeldorf's comments on the "Misc
Reps & Warranties" as I am unsure that they can be provided by E-Next as
currently drafted.

I look forward to receiving the next turn with my comments incorporated or an
email sooner if possible addressing the questions I posed therein.  If there
are any questions of me first, please call.


FYI
---------------------- Forwarded by Jeffrey C Gossett/HOU/ECT on 04/23/2001
07:34 AM ---------------------------
From: Zhiyong Wei/ENRON@enronXgate on 04/20/2001 07:26 PM
To: Louise Kitchen/HOU/ECT@ECT, Geoff Storey/ENRON@enronXgate, Colleen
Sullivan/HOU/ECT@ECT, Philippe A Bibi/ENRON@enronXgate, Beth
Perlman/ENRON@enronXgate, Stephen Stock/ENRON@enronXgate, Jeffrey C
Gossett/HOU/ECT@ECT, Dave Nommensen/ENRON@enronXgate, Jim
Ogg/ENRON@enronXgate, Bob McAuliffe/ENRON@enronXgate
cc:
Subject: GTV II Phase II Inception Document

Attached please find the revised GTV II Phase II Inception Document. Please
review the document. We will be circulating the Inception Document for
signature on Tuesday, April 24th. Please refer to the attached Microsoft
Project file for the detail of project plan and timeline estimate.

Please send your comments to Dave Nommensen since I will be on vacation.

Thanks

Zhiyong


The 1999 Form W-2 and Retiree Tax Form 1099-R will be mailed to your address
of record by January 31, 2000. If you have not received your form by February
16th, you may request, in writing, for a duplicate copy to be sent to you.
Please note that a written request, including authorized signature is
required.

When requesting a duplicate form, please specify the year for which you need
a copy, sign your request, and include the following information:

 Name
 Complete Mailing Address
 Phone Number
 Social Security Number

You may mail your request to:
 ENRON CORP
 EB 1667
 P O BOX 1188
 HOUSTON TX   77002

Or you may fax your request to 713-646-3755.

Your request will be processed within one week of receipt.

If you have a question regarding the information on your Form W2, please
contact Ginger Sinclair at 713-853-9567.  Ginger will take a detailed message
of your questions and someone from the Payroll Tax Group will contact you as
soon as possible.

Thank you


We have received the executed EEI Master Power Purchase and Sale Agreement
dated 2/2/2001 from the referenced CP.  Copies will be distributed to Legal
and Credit.


thank you.  Looks like another year where everybody is going to try to get vacation in at the last minute.

 -----Original Message-----
From: 	Vuittonet, Laura
Sent:	Monday, November 12, 2001 2:54 PM
To:	Martin, Thomas A.
Subject:	RE: Vacation Time for Texas Desk traders

Tom, here's a short version of the vacation hours that everyone has REMAINING.  Just FYI, I went ahead and included everyone on the desk.  I've also included a spreadsheet that I downloaded from SAP, which shows more detail.  It is shown in hours, as well.  Let me know if you need anything else!

Laura

Eric Bass  -  88 hrs vacation remaining
Dave Baumbach  -  80 hrs vac remaining, Discretionary Holiday not taken yet
Gary Bryan  -  160 hrs vac remaining, Discretionary Holiday not taken yet
JD Buss  -  120 hrs vac remaining
Daren Farmer  -  68 hrs vac remaining
Bryan Hull  -  128 hrs vac remaining
Mark Knippa  -  152 hrs vac remaining, Discretionary Holiday not taken yet
Tom Martin  -  104 hrs vac remaining
Mike Olsen  -  96 hrs vac remaining
Joe Parks  -  96 hrs vac remaining, Discretionary Holiday not taken yet
Jim Schwieger  -  0 hrs vac remaining
Jay Smith  -  30 hrs vac remaining
Laura Vuittonet  -  71 hrs vac remaining
Charlie Weldon  -  60 hrs vac remaining, Discretionary Holiday not taken yet

One more thing ... the report does not include vacation taken between the dates of November 1st thru November 15th.  The November 15th pay period is when I enter that information, so SAP does not have it yet.  I corrected the email for those who have taken vacation during this pay period (so far), which were Charlie, Joe, Eric, Mark, and you.

Also, Dave's vacation is not appearing in SAP, so the report shows NONE of his vacation time.  He and I talked about this, and he has 8 days remaining.  I am going to correct his vacation time in SAP.

Laura

 << File: Vacation Report - 111201.xls >>

 -----Original Message-----
From: 	Martin, Thomas A.
Sent:	Monday, November 12, 2001 11:05 AM
To:	Vuittonet, Laura
Subject:	Vacation Time for Texas Desk traders

Could you send me an updated list of the traders remaining vacation days for 2001.  I am hearing a lot of members of the desk wanting to get their vacation by the end of the year.  I want to know what I am dealing with.  Try to include Daren and Dave as well.

Thanks,

Tom


---------------------- Forwarded by Phillip K Allen/HOU/ECT on 11/01/2000
11:33 AM ---------------------------

Jeff Richter
10/20/2000 02:16 PM
To: Phillip K Allen/HOU/ECT@ECT
cc:
Subject: Generation

http://westpower.enron.com/ca/generation/default.asp


Let's discuss this.
----- Forwarded by Mark Taylor/HOU/ECT on 06/07/2001 11:50 AM -----

	exchangeinfo@nymex.com
	06/07/2001 12:20 PM

		 To: mark.taylor@enron.com
		 cc:
		 Subject: (01-191) EXCHANGE TO SUBSTITUTE POSITION ACCOUNTABILITY
REQUIREMENTS FOR POSITION LIMIT RULES

June 7, 2001
Notice No. 01-191

TO:
ALL NYMEX DIVISION MEMBERS
ALL NYMEX DIVISION CLEARING MEMBERS / MEMBER FIRMS

FROM:
NEAL WOLKOFF, EXECUTIVE VICE PRESIDENT

RE:
EXCHANGE TO SUBSTITUTE POSITION ACCOUNTABILITY REQUIREMENTS FOR POSITION
LIMIT RULES

The board of directors of the New York Mercantile Exchange, Inc., has
approved substituting position accountability requirements for the current
position limits on all but the last three trading days of its crude oil,
heating oil, unleaded gasoline, and natural gas contracts, beginning with the
Friday, June 15, trading session.

For the last three days of trading in a particular delivery month, each of
those contracts would continue to have a position limit of 1,000 lots.

The current net position limits levels will be reflected in the
accountability levels. These are:

   Any one month         All months
Crude oil  10,000   20,000
Unleaded gasoline 5,000   7,000
Heating oil  5,000   7,000
Natural gas  7,000   12,000

Any market participant with positions exceeding these levels may be contacted
by the Exchange with inquiries regarding the participant's hedging
requirements or financial condition. The Exchange would reserve the right to
require that the position be reduced or capped.

There will no longer be any gross limits on the number of positions that can
be held, as long as they are offset by positions on the opposite side of the
market (example: a participant with 10,000 long positions in September,
October, and November crude oil futures and 10,000 short positions for
December and January would be considered to have a net position of 10,000
contracts).

These new rules are also intended to apply to the Brent crude oil futures
contract, planned for launch this summer. The board has also approved a
minimum reporting level of 100 lots for that contract.

These rules, which closely resemble those in place for metals traded on the
COMEX Division, must be approved by the Commodity Futures Trading Commission
prior to implementation.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"
http://208.206.41.61/email/email_log.cfm?useremail=mark.taylor@enron.com&refdo
c=(01-191)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


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

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

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

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

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


FYI.  Story on the effect of FERC prices on supply in PNW.
Best,
Jeff

Power-Market Bear Mauls Plans For New Generators In West
By Mark Golden
Of DOW JONES NEWSWIRES

07/26/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

NEW YORK -(Dow Jones)- The crumbling price of electricity in the western
U.S., attributed by many to federal price controls, has forced power plant
developers to cancel projects, calling into question whether there will be
enough electricity to meet demand in the Northwest this winter.
The cancellations of peaking plants and temporary, oil-fired generators -
high-cost units that provide power needed only when demand is highest - have
cut projected generating capacity in the Northwest by up to 1,000 megawatts,
about 3% of the combined peak demand of Washington, Oregon, Idaho and western
Montana.
"The price caps have added uncertainty," said Scott Simms, spokesman for
Enron Corp. (ENE) unit Portland General Electric Co. "If we look forward to
this winter and you see a diminished supply scenario, you can see why we have
concerns about regional reliability. That could put us in a position of
having rotating outages in the region."
About two weeks after the Federal Energy Regulatory Commission imposed limits
on western power prices on June 19, Portland General halted installation of a
new 45-megawatt gas-fired peaking turbine at its existing Boardman power
plant.
The utility was developing the extra generation both to meet its customers'
needs and to sell some output to other Northwest utilities left short of
hydroelectric supplies due to this year's drought. A turbine that size could
power about 45,000 homes.
"You can directly attribute that to FERC price controls," Simms said.
After the FERC order, at least two utilities in Washington State ended
negotiations with NRG Energy (NRG) for supplies from new plants that NRG was
ready to build in time for winter. Both utilities - Tacoma Power and
Snohomish County Public Utility District - experienced significant supply
shortages in the past 12 months, paid very high prices in the spot market and
had to raise customer electric rates by as much as 50%.
But both utilities told NRG, and later Dow Jones Newswires, that they had no
reason to sign long-term contracts to guarantee new supplies, because the
FERC had practically eliminated the financial risk of relying on the spot
market. NRG, as a result, scuttled plans to build peaking plants in
Washington that could have added 300 megawatts.
FERC's price controls, as well as supply-demand fundamentals, have
dramatically changed the economics of selling power into the West's open
market in the past few months.
The current western U.S. electricity price cap of $98 a megawatt-hour covers
the costs of generating power from easy-to-install but inefficient peaking
turbines, but not the capital costs of buying and installing new peakers. In
addition, the current price cap may soon be recalculated to a much lower
level. The cap is based largely on natural gas prices, which have been cut in
half since the cap was first formulated in June.

Not Everyone Blames FERC

The average monthly price for on-peak hours in the Northwest from August
through March is $60 a megawatt-hour - a fraction of what it was three months
ago. Many in the western electricity industry think that's because FERC's
price controls have kept prices artificially low. A smaller group thinks the
market is appropriately signaling that not all the planned gas-fired plants
are needed, because some power plants are already under construction and
consumers are conserving electricity.
Jim Kemp, a senior executive for the Canadian utility TransAlta's (TA.TO)
merchant power group, TransAlta (TA.TO), for example, doesn't attribute the
cancellation of projects to price controls.
"I see it as due to demand-side control and new units," Kemp said. "The
market is sending out a signal that we have enough. Maybe this winter we will
find that we don't have enough, but that's not the signal the market is
sending now."
The spot market for power has been far below the federal price cap for two
months. Mild weather, a slowing economy and conservation efforts throughout
the West have made power from expensive peaking plants unnecessary except for
a few hours so far this summer.
"Prices started to come down before the FERC mitigation plan started," said
Tacoma Power supply analyst David Lucio, who was negotiating with NRG. "The
need to try to execute a contract wasn't as great with the prices falling."
Lucio said there should be enough capacity to get the Northwest through the
winter, barring abnormalities like a long, extended freeze.
Construction of dozens of peaking plants in the West is going forward in
cases where developers sold supply contracts in advance. TransAlta is
continuing construction of a 154-megawatt peaking plant in Washington,
because much of the plant's capacity was sold months ago.
"The number of announced projects is far and away more than what is needed
within the time frame we're talking about," said Dick Watson, a director with
the Northwest Power Planning Council.
Still, several western utilities have asked the FERC to raise the price cap.
Puget Sound Energy (PSD) told the FERC the cap "undercuts the Commission's
efforts to ensure adequate supplies of electricity."
As previously reported, some small oil-fired generators, which are even more
expensive to operate than the permanent, gas-fired peaking plants, have even
been taken off line permanently after being installed over the past six
months. And orders for new generators have been canceled.
-By Mark Golden, Dow Jones Newswires; 201-938-4604; mark.golden@dowjones.com

Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.


-----Original Message-----
From: Tracy Hood [mailto:tjhood@usa.net]
Sent: Thursday, October 11, 2001 11:07 AM
To: Vickie Voelz; Tammy Runnels; Suzy Hill; Susan Maines; Shellie Pruitt; Scott Duliban; Rowdy Yates; Renee Bransburg; Peggy Hill; Paula Jones; Michael Richardson & "T"; Liza "Xena" Yellott; Larry Lovelace; Kristi Jenkins; Kristi Collins; Kim Duncan; Kenny "Tattoo" Wyckoff; Karen Frye; Jorine Seale; Jeff Seal; Holly Price; Glenn "Hercules" Briggs; Denise Osterman; Deborah Day; Dana Gillman; Clint Hill; Chris Price - work; Chris Price - home; Bev Werner; Beth Bentley; Anna Bakke; Amy Swinghammer
Subject: Fw: MALLS ON 10/31

This is worth considering. Let's all be careful!

Hi All -

I think you all know that I don't send out hoaxes and don't do the
reactionary thing and send out just anything that crosses my path.  This one,
however, is a friend of a friend and I've given it enough credibility in my
mind that I'm writing it up and sending it out to all of you.

My friend's friend was dating a guy from Afghanistan up until a month ago.
She had a date with him around 9/6 and was stood up. She was understandably
upset and went to his home to find it completely emptied.

On 9/10, she received a letter from her boyfriend explaining that he wished
he could tell her why he had left and that he was sorry it had to be like
that. The part worth mentioning is that he BEGGED her not to get on any
commercial airlines on 9/11 and to not to go any malls on Halloween. As
soon as everything happened on the 11th, she called the FBI and has since
turned over the letter.

This is not an email that I've received and decided to pass on.  This came
from a phone conversation with a long-time friend of mine last night.

I may be wrong, and I hope I am. However, with one of his warnings being
correct and devastating, I'm not willing to take the chance on the second
and wanted to make sure that people I cared about had the same information
that I did.

Laura Katsis
Implementation Specialist
714/921-5424
lkatsis@volt.com
OpsVolt_Track@volt.com


Good Morning,

We will be rolling out a new version of Deal Entry & Deal Blotter this
afternoon to support California scheduling & volume management.  For most of
the users, there will be no impact except for a few new fields that can be
ignored in Enpower's Deal Entry.  Below is a list of the changes:

Deal Entry (These fields should only be populated for California deals)
1.  Added Settlement Entity - Identifies where the power is scheduled and
settled.

2.  Added Sched Coordinator - Identifies the coordinator responsible for
scheduling the power.

3.  Schedule Type - Defines the type of schedule used in California.

4.  Market Reference - Defines the market when the power will flow.

Deal Blotter
1.  Deal Blotter will be defaulting these 4 values if the deal is in
California.

Thanks,  David Poston


> -----
>
>
>
>  <<Doc5.doc>>
>
> Sarah,
>
> Attached is the revised confidentiality paragraph. Please review and
> advise at your earliest convenience.
>
> Regards,
>
> Gary Rosenblum
> 212 449-6309
> Vice President and Senior Counsel

 - Doc5.doc


Start Date: 4/17/01; HourAhead hour: 10;  No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041710.txt

---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 10 / Preferred:  12.00 / Final:  11.98)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/17/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_ERNIE
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 10 / Preferred:  50.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/17/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_SCOUT
  ENGY_TYPE: WHEEL
$$$ Variance found in table tblINTCHG_IMPEXP.
     Details: (Hour: 10 / Preferred:  50.00 / Final:   0.00)
  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 4/17/01
  TIE_POINT: SYLMAR_2_NOB
  INTERCHG_ID: EPMI_CISO_SCOUT
  ENGY_TYPE: WHEEL

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 10 / Preferred:  50.05 / Final:  50.02)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/17/01
  SC_ID: EPMI


Enron Shares Fall on Concern Over CFO's Partnerships (Update4)
Bloomberg, 10/19/01

USA: UPDATE 1-Enron stock sustains further heavy losses.
Reuters English News Service, 10/19/01
Enron Corp. Cut to `Hold' at A.G. Edwards
Bloomberg, 10/19/01

BANDWIDTH BEAT: Enron Broadband Unit Takes A Beating
Dow Jones Energy Service, 10/19/01
Dynegy Chief: Bandwidth Growth Won't Wait For Trading
Dow Jones Energy Service, 10/19/01
UK: Jobs in base metals down but definitely not out.
Reuters English News Service, 10/19/01
New Power Hldg Sees Meeting 3Q Loss Estimate
Dow Jones News Service, 10/19/01

Enron Shares Fall on Concern Over CFO's Partnerships (Update4)
2001-10-19 16:24 (New York)

Enron Shares Fall on Concern Over CFO's Partnerships (Update4)

     (Updates with Chief Financial Officer Fastow didn't
immediately return a call for comment in fifth paragraph.)

     Houston, Oct. 19 (Bloomberg) -- Enron Corp.'s shares have
fallen 26 percent in the past three days on concern the biggest
energy trader's dealings with partnerships run by its chief
financial officer contributed to investment losses.

     Enron's stock dropped 10 percent today. Enron's board cost
the company at least $35 million by allowing Chief Financial
Officer Andrew Fastow to manage LJM Cayman and LJM2 Co-Investment,
partnerships that bought Enron assets, a shareholder alleged
Wednesday in a lawsuit.

     The lawsuit came the day after Enron reported $1.01 billion
in third-quarter losses from failed investments. The Wall Street
Journal reported $35 million of the losses were connected with the
two limited partnerships. Enron also reduced shareholders' equity
by $1.2 billion when it bought back 55 million shares from the
partnerships, the paper reported yesterday.

     ``It looks sleazy,'' said Roger Hamilton, a manager at John
Hancock's Value funds, which own 600,000 shares. ``If you are
someone who invests in a company's management, it's almost time to
punt with Enron.''

     Enron spokeswoman Karen Denne didn't return calls or written
requests seeking comment. Fastow didn't immediately return a
telephone call for comment.

     Fastow and a handful of associates made more than $7 million
last year in management fees and about $4 million in capital
increases on an investment of about $3 million in one of the
partnerships, the Journal reported today.

                        Buying Enron Assets

     Fastow is involved in 17 other similar companies and
partnerships that appear to have ties to Houston-based Enron,
based on filings with the Texas secretary of state.

     The foreign business corporations and limited liability
companies have directors, officers or managers whose address is
listed as 1400 Smith Street in Houston, Enron's corporate address,
according to Texas records.

     Fastow is listed as a director, officer or managing member in
each one. At least one of the companies bought and sold Enron
assets, including foreign power plants.

     Whitewing Management, which lists Fastow as its managing
member, received $807 million from the sale of Enron debt last
year.

    Under the terms of the debt sale, Whitewing is allowed to use
the proceeds to buy power plants from Enron or make other
``permitted investments.'' Whitewing has bought 14 Enron plants or
companies since 1999 and sold four.

     Enron's Denne has not responded to written requests about
Fastow's role at Whitewing or whether he used his knowledge of the
value of Enron assets to benefit outside investors or company
executives at Enron's expense.

     Shares of Enron fell $2.95 to $26.05. They have fallen
69 percent this year.

--Russell Hubbard in the Princeton newsroom, 609-750-4651 or
rhubbard2@bloomberg.net, and Jim Kennett in Houston,
(713) 353-4871 or jkennett@bloomberg.net/pjm/alp/pjm

USA: UPDATE 1-Enron stock sustains further heavy losses.

10/19/2001
Reuters English News Service
(C) Reuters Limited 2001.

(New first paragraph, adds additional analyst comment)
By Andrew Kelly
HOUSTON, Oct 19 (Reuters) - Enron Corp. stock sustained further heavy losses on Friday as investor confidence in the former Wall Street favorite was rocked by reports about the company's relationship with a limited partnership that was run until recently by Enron's chief financial officer.
The energy giant's stock closed down $2.95 or 10.2 percent at $26.05 per share, making a cumulative loss of 27 percent for a week in which Enron reported a third-quarter loss of $638 million, its first quarterly loss in over four years.
Analysts said confidence was shaken by several articles in the Wall Street Journal this week alleging possible conflicts of interest on the part of Chief Financial Officer Andrew Fastow, who until recently ran a limited partnership that bought assets worth hundreds of millions of dollars from Enron.
"I don't think this thing passes the smell test," said one analyst who spoke on condition of anonymity. "I think the CFO should be out of there right now. In the interest of the stockholders, that CFO should be gone," he said.
Enron has rejected the suggestion that there was anything improper about the arrangements, but Fastow severed his ties with the LJM2 partnership earlier this year to allay concerns raised by investors and analysts about his dual responsibilities.
POOR JUDGMENT?
Analysts said that at the very least, the arrangement showed poor judgment by senior managers at Enron, which recently pledged to be more open with investors and analysts following a series of high-profile stumbles that culminated with the shock resignation of new chief executive officer Jeff Skilling in August.
"For a company that had a lot of question marks around it already, these questions about financial dealings are really worrisome for investors," said Commerzbank Securities analyst Andre Meade. "It points to poor decision-making on behalf of the board and top management at Enron," he said.
Enron, North America's biggest buyer and seller of natural gas and electricity, was one of Wall Street's high flyers last year, when its stock posted a gain of 87 percent.
The stock's ascent was driven by enthusiasm for the company's plans to build a broadband telecommunications business and the success of its EnronOnline Internet energy trading platform.
This year Enron's shares have fallen 69 percent as sentiment toward broadband and the Internet soured, Skilling resigned after only six months as CEO, and the company's Dabhol power plant project in India became mired in a payments dispute.
Moody's Investors Service said earlier this week that it had placed all of Enron's long-term debt obligations on review for a possible downgrade after Enron took $1.01 billion in write-downs and charges that substantially reduced valuations for several non-core businesses, including broadband and water services.
Some of Enron's financing arrangements require the company to maintain investment grade credit ratings.
Analysts said Enron's credibility has been severely damaged and the recent reports about the LJM2 partnership had raised concerns that more unpleasant surprises may lie ahead.
"What don't we know that went on at that company? Where's the credibility?" asked one frustrated analyst. "We don't know if it's limited to this," he said.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Enron Corp. Cut to `Hold' at A.G. Edwards
2001-10-19 16:27 (New York)

     Princeton, New Jersey, Oct. 19 (Bloomberg Data) -- Enron Corp. (ENE US)
was downgraded to ``hold'' from ``buy'' by analyst Michael C Heim at A.G.
Edwards & Sons Inc.

BANDWIDTH BEAT: Enron Broadband Unit Takes A Beating
By Michael Rieke

10/19/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

A Dow Jones Newswires Column

HOUSTON -(Dow Jones)- Early last year, Enron Corp.'s (ENE) hype and skyrocketing share price enticed a number of other energy companies into the telecommunications business.
Now investors are wondering whether Enron is leading the charge out of telecom.
The company announced Oct. 16 that its broadband unit lost $80 million before interest and taxes in the third quarter on revenue of $4 million. In the third quarter of last year, the unit lost $20 million on revenue of $162 million.
Enron also recorded a $180 million non-recurring charge for restructuring its broadband unit in the third quarter of this year. That amount included severance costs for cutting 400-500 jobs, loss on sale of inventory and the reduced value of Enron's content services.
At an analysts meeting Oct. 16, Enron Chairman and Chief Executive Ken Lay said the broadband business is "not that robust" right now. Industry revenue is low and there's substantial overcapacity in the bandwidth market, "more than even we anticipated," Lay said.
The company still has a problem finding creditworthy counterparties for bandwidth trading. Consolidation in the telecom sector has also eliminated potential trading partners.
"A year ago it looked like an excellent business to get into," he said. "Others thought so, too."
Looking back, Enron could have gotten into the broadband business with less capital, Lay said. It spent "too much too soon."
An Ominous Comparison

He compared Enron's move into telecom with its move into the water business with its Azurix unit. That comparison probably won't be good news to those who still have broadband jobs at Enron.
Azurix caused Enron to take a bigger writedown - $287 million - than broadband in the third quarter. The water business has been a bigger and longer-lasting headache than broadband.
Maybe Enron's surviving broadband employees will feel better knowing that Lay told analysts the company is exploring alternatives to preserve its play in telecom at a reasonable price so it will be ready when the business recovers.
It's trying to reduce general and administrative costs in broadband to $40 million a quarter and is on track to reach that goal next year, he said. It could cut those costs even more in order to sustain the business.
Meanwhile, the company is trying to determine which parts of the telecom business it wants to be in, he said.
Enron President and Chief Operating Officer Greg Whalley told analysts the company needs to determine how much network and hardware it needs.
At one time, they had thought that they wanted to use physical network assets as a springboard, Whalley said. Now they "wouldn't want to forever be in the network business."
Both executives mentioned the possibility of joint ventures in telecom. Lay said other companies are asking Enron to do them. Whalley said the company has talked about exchanging fiber and other assets.
The one part of the telecom business Enron still seems committed to is broadband intermediation. "Intermediation" is a term the company uses in most of its commodity businesses, said an Enron spokeswoman. It's a combination of trading and deal origination - wholesale and enterprise customers.
More Bad News Expected

Rebecca Followill, a research analyst for Howard, Weil, Labouisse, Friedrichs Inc., she had expected a larger writedown in broadband for the third quarter.
"If you look at how much the stocks of their peers in broadband have fallen, you've got to figure that their assets' values have fallen similarly," Followill told Bandwidth Beat. "I was expecting more like an 80% writedown in broadband."
Another analyst, who didn't want to be identified, said he also expects more broadband writedowns from Enron. "To the extent that they can take more writedowns, I think it would make eminently good sense to do it."
He predicted "a $200 million haircut" in the first quarter of next year because of a goodwill valuation issue.
And that might not be the end of it. Enron had a net of $948 million of broadband property, plant and equipment at the end of last year, he said. They had another $600 million of risk management asset receivables, inventories and working capital items.
Followill doesn't see much future in broadband for Enron.
"I think the business will shrink to the point where it won't be shown as a key sector in their reporting," she said.
Enron might keep a small broadband group in case the market rebounds, she said. Her investor clients don't expect broadband to contribute to Enron's earnings within the next three years.
She thinks Enron is looking for an exit strategy.
The other analyst said Enron is trying to preserve some value in broadband. "It doesn't look like there's any right now, to be honest," he said. "They'll carry the trading operation to some degree."
-By Michael Rieke, Dow Jones Newswires; 713-547-9207; michael.rieke@dowjones.com

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

Dynegy Chief: Bandwidth Growth Won't Wait For Trading
By Erwin Seba
Of DOW JONES NEWSWIRES

10/19/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

HOUSTON -(Dow Jones)- Dynegy Inc. (DYN) Chairman and Chief Executive Chuck Watson understands why some think he is mistaken in believing the bandwidth sector has reached its bottom and is recovering.
But those critics don't understand his bandwidth business, Watson told Dow Jones Newswires in an exclusive interview. They don't understand how the business world has changed since the Sept. 11 terrorist attacks, he said.
In announcing third-quarter results for Dynegy Monday, Watson said the bottom in bandwidth demand was reached on Sept. 11 and that the market would begin recovery in the fourth quarter of this year.
Businesses are reassessing where to store data and how to distribute operations to avoid losing everything in a sudden catastrophic event, be it of natural or human origin. That's what's driving the recovery, he said.
Also, businesses will avoid travel, he said, relying instead on video conferencing.
Enron Corp. (ENE) Chairman Kenneth Lay said Tuesday that he hasn't seen any signs of recovery in telecom. The bandwidth market is suffering, in part, because there are few creditworthy companies to trade with, he said.
"They're trying to find trading partners for broadband," Watson said. "That's going to be tough to do." Dynegy isn't concentrating on bandwidth trading because there isn't "a realistic model" for it yet, he said. "I said two years ago it was at least two years away. I still think it's probably at least two years away, before we actually call it a trading commodity."
The metro-area infrastructure that Dynegy and other companies are building will create connections between networks, which are needed in order to trade bandwidth as a commodity, Watson said.
It's unfortunate that Enron's model for bandwidth as a traded commodity is the dominant image for the entire market, Watson said. Dynegy's model includes telecom contracts, negotiated directly with customers for long-term supply of bandwidth.
Dynegy's bandwidth trading desk is staffed by four people. For the past several months, they have been buying bandwidth for Dynegy's customers. The goal has been to build a customer base. "We're looking at being an intermediary, and really looking at the same customers that we feed energy today."
Since Dynegy lit its 16,000 route-mile network two weeks ago, the trading desk has been trying to fill the company's network instead of buying bandwidth from others. "I'm trying to find enterprises that have communication requirements," Watson said.
He pointed to ChevronTexaco Corp. (CHX) as a target for those services. "They have offices that never talked to each before," he said. "Now they've got to talk to each other. I would say that the credit quality of Chevron and Texaco is pretty reasonable."
ChevronTexaco owns about 26% of Dynegy, said a Dynegy spokesman. Dynegy and ChevronTexaco already have a large energy trading relationship which includes natural gas and gas liquids.
The average burn rate of Dynegy Global Communications, the corporation's telecommunications unit, is $20 million to $25 million a quarter, Watson said. In the third quarter, it lost $15 million, down from $20 million in the second quarter.
Dynegy predicts that Global Communications will break even or record a small loss before interest and taxes in the fourth quarter.
"If we can get to (income of) $10 million per month - that's what we need really," he said. "If we can get there by the end of next year, I'll be very happy. I think by '03, this market will have righted itself."
Watson believes telecommunications has the potential to transform Dynegy.
"Dynegy is an energy company," he said. "Our energy merchant company is doing very well and business is growing like a weed...(Telecommunications) is not our core business by any stretch right now. But I'd love to be able to tell you it's going to be. I'd love to be able to tell you it is someday."
-By Erwin Seba, Dow Jones Newswires; 713-547-9214; erwin.seba@dowjones.com

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

UK: Jobs in base metals down but definitely not out.
By Amanda Cooper

10/19/2001
Reuters English News Service
(C) Reuters Limited 2001.

LONDON, Oct 18 (Reuters) - Dismal industrial demand and the fickleness of hedge funds seduced by more volatile markets have slashed London Metal Exchange members' profits over the past year and set off a gathering wave of job cuts.
The decline and fall of base metal prices in the past year and a half has prompted a series of high-profile companies to withdraw from the market, casting a pall over next week's yearly LME Week industry gathering in London.
Jobs have gone from front office to back in trading houses and banks, raising questions about the prospects for those now seeking work.
"Good people can always be placed. As long as there is a job to fill and the company has a budget to hire," Sarah Gilley of London-based recruitment group Exchange Consulting said.
"Where the situation starts to get difficult is where everyone is cutting budgets, people are not being replaced when they leave and there have been an awful lot of redundancies."
Last week, ScotiaMocatta, a subsidiary of the Bank of Nova Scotia and a key ring dealing member, unveiled its decision to give up open outcry trading on the LME floor, prompting around 25 job losses among traders, phone jockeys and clerks.
Then blue-blooded banker N.M. Rothschild & Sons closed its London and New York base metals units. It left its core precious metals business intact, but 20 base metals staff were laid off in the process.
In the same week, the LME's largest floor trader, Enron Metals, said it planned to cut 10 to 20 percent of its metals staff as part of an exercise to cut 250 to 500 jobs in the Enron Group .
SECURITY
With three big market players and several major banks with commodities divisions slashing jobs at the same time, competition in the labour market will intensify and those in work are becoming wary about job security.
"What we're finding at the moment is that there is still demand for traders with a track record, which is possibly increasing because people are nervous about their jobs and so they're keen to stay put," Gilley said.
"So whereas someone who might be a big money-spinner with a track record would have previously stayed in their job for two to three years, they are now staying for three to five years.
"They probably feel that they're reasonably safe where they are, they're well recognised and not going to stick their necks out," she said.
BONUS FEARS
October has never traditionally been a strong month for the the jobs market in base metals as players are often distracted by LME week functions and conferences
Also, traders tend to be looking towards their annual performance-linked bonuses, which are usually announced at the end of the year.
"Those who are in work at the moment are sticking. Often at this time of year, people are hanging on for their bonuses. But I don't think any of them are anticipating good bonuses. They're probably just happy to have a job," Sian Griffiths of Exchange Consulting said.
LME volumes traded have been fallen over the past 18 months as the powerful hedge funds that once took a shine to the metals swarmed into areas such as hi-tech and telecomms stocks.
Metals traders who handled the large volume of fund activity have begun to focus again on moree traditional clients, and this may yet prove a boon for the jobs market.
Companies are seeking to fill a shortage of staff schooled in the traditional practices of trading physical metal.
"A lot of companies who had sidelined the traditional physical business are now re-aligning their focus and need poeple who understand the physical market and know how to set up a hedge and manage it, " Gilley said.
"The other area where demand has markedly increased in comparison to a few years ago is marketing," she added.
As for morale in the industry, individuals' confidence in their future is seemingly undimmed.
"Just because I've lost my job doesn't mean I'm going to sell my Porsche," one trader said.

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.

New Power Hldg Sees Meeting 3Q Loss Estimate

10/19/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

PURCHASE, N.Y. -(Dow Jones)- New Power Holding Inc. (NPW) expects to meet its prior third quarter loss estimates; and said it has revised an agreement with Enron Corp. (ENE), lowering the collateral New Power must post under a master netting agreement.
In a press release Friday, New Power said the amendment to the Enron pact and cost-cutting efforts will allow the company to continue to conduct business until it secures ongoing asset-backed financing.
The company reiterated its earlier expectations of a third quarter loss of $65 million to $70 million, or $1.12 to $1.20 a share.
Analysts put the company's third quarter loss at $1.16 a share, according to Thomson Financial/First Call.
Third quarter revenue will be "slightly lower" than the $60 million to $65 million forecast in August, New Power said.

In the year-ago third quarter New Power lost $1.23 a share on revenue of $18.19 million.
The amendment to the master netting agreement with Enron North America Corp., Enron Energy Services Inc. and Enron Power Marketing Inc. affects the master cross-product netting, setoff, and security agreement, and expands through Jan. 4 the types of collateral that New Power is permitted to post to the Enron units.
Under the amended pact, the first $70 million of posted collateral must be in the form of cash, while amounts in excess of $70 million may consist of not more than $40 million of eligible receivables and inventory of New Power, valued at discounts specified in the amendment, and subject to a $25 million limit for October 2001.
Shares of New Power traded recently on the New York Stock Exchange at $1.67, up 1 cent, or 0.6%, on early composite volume of 7,900 shares. Average daily volume is 223,800 shares.
-Bill Platt; Dow Jones Newswires; 201-938-5400

Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.


Attached in WordPerfect, at long last, are the final transaction
documents for Hawaii I.  These documents are marked to show minor, clean
up changes from the documents that were last circulated on the closing
date, November 20.  These changes are largely clean up in nature.
Additionally, the Form of Swap Confirmation and waterfall in the Trust
Agreement were revised to cap the amount of money to be swapped up to
Enron Corp on payment dates other than the Final Distribution Date, such
that any amounts received by the Trust in excess of an amount necessary
to pay interest will be used to pay current yield to the Certificate
Hoder, and the remainder will be retained in the Collection Account.
This change will only have any impact if the asset is generating cash
flow in excess of the amount due as interest on the Notes.

Final closing binders will be distributed later this week.

The documents are identified as follows:

Trust Agreement (266236)
RADA (266238)
Facility Agreement (266253)
  Ex G1 - TRS Confirm (268741)
  Ex G2 - Schedule (Permitted Swap Party) (268744)
  Ex G3 - Schedule (Enron) (268748)
  Ex H - Transfer & Auction Agmt (266256)
  Ex I, Part A - Asset LLC Agmt (266270)
  Ex I, Part B - Transferor LLC Agmt (266276)

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

 - 266236.wpd
 - 266238.wpd
 - 266253.wpd
 - 266256.wpd
 - 266270.wpd
 - 266276.wpd
 - 268741.wpd
 - 268744.wpd
 - 268748.wpd


---------------------- Forwarded by Steven J Kean/HOU/EES on 08/10/2000 09:16
AM ---------------------------
From: Jeffrey A Shankman@ECT on 08/08/2000 11:20 AM
To: Steven J Kean/HOU/EES@EES, Kevin McGowan/Corp/Enron@ENRON
cc:
Subject: Invitation to the EUROFORUM Conference "Emissions Trading"

FYI.  John Palmisano previously addressed this group.  Do we want to send
anyone?

Jeff
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 08/08/2000
11:14 AM ---------------------------

"Hagemann, Nicole" <Nicole.Hagemann@euroforum.com> on 08/08/2000 08:50:31 AM
To: "'jshankm@enron.com'" <jshankm@enron.com>
cc:
Subject: Invitation to the EUROFORUM Conference "Emissions Trading"

Dear Jeff,

as we discussed on the phone, I send you the conference paper of the
EUROFORUM Conference "Emissions Trading", to which I would like to invite a
speaker of your company.
Just for info: EUROFORUM in a susidary of ibc conference.
 <<KonzeptEnglisch.DOC>>
I will call you again next week.

Sincerely

Nicole Hagemann

RAin Nicole Hagemann
Projektleiterin Energie/Umwelt
EUROFORUM Deutschland GmbH
Tel.: 0211/ 9686-429
Fax.: 0211/ 9686 94-429
mailto:nicole.hagemann@euroforum.com

 - KonzeptEnglisch.DOC


Twizzlers Please!

 -----Original Message-----
From: 	Jason Kriendler <jkriendler@yahoo.com>@ENRON [mailto:IMCEANOTES-Jason+20Kriendler+20+3Cjkriendler+40yahoo+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Wednesday, May 30, 2001 12:04 PM
To:	cferguson@stephenstephenson.com; Daniel M. Altom; Hatcher, Chris; Brian Davison \(E-mail\); David Esones \(E-mail\); Williams, Jason (Trading); Todd Grabbe \(E-mail\); Wayne Bland \(E-mail\)
Subject:	Re: It's game time!!

Dan,

Sour Patch Kids please.

Thanks.

jk

--- cferguson@stephenstephenson.com wrote:
> I want to hear that you are coaching, or maybe that
> you aren't coaching but
> you are going to start working hard on becoming a
> better ball player.  What
> we need is a good team mom.  Do you think you could
> stop off before each
> game and pick up some snickers and sodies.  Each
> player gets to pick the
> drink and candy each week and then you go get the
> stuff.
>
>
> ----- Original Message -----
> From: Daniel M. Altom <DAltom@mglconsulting.com>
> To: <cferguson@stephenstephenson.com>; Hatcher,
> Chris <CHatcher@wm.com>;
> Daniel M. Altom <DAltom@mglconsulting.com>; Brian
> Davison (E-mail)
> <bjdavison@cmsenergy.com>; David Esones (E-mail)
> <David.A.Esones@accenture.com>; Jason Kriendler
> (E-mail)
> <jkriendler@yahoo.com>; Jason. Williams (E-mail)
> <jason.williams@enron.com>;
> Todd Grabbe (E-mail) <todd.grabbe@radisys.com>;
> Wayne Bland (E-mail)
> <wmbland2@aol.com>
> Sent: Wednesday, May 30, 2001 11:35 AM
> Subject: RE: It's game time!!
>
>
> > what do you want me to say you fat bastard
> >
> > Dan Altom
> > MGL Consulting
> > 281-367-0380
> > www.mglconsulting.com
> >
> >
> > -----Original Message-----
> > From: cferguson@stephenstephenson.com
> > [mailto:cferguson@stephenstephenson.com]
> > Sent: Wednesday, May 30, 2001 11:38 AM
> > To: Hatcher, Chris; 'Daniel M. Altom'; Brian
> Davison (E-mail); David
> > Esones (E-mail); Jason Kriendler (E-mail); Jason.
> Williams (E-mail);
> > Jessy Babcock (E-mail); Todd Grabbe (E-mail);
> Wayne Bland (E-mail)
> > Subject: Re: It's game time!!
> >
> >
> > Dan-
> >
> > Where is your reply, I was hoping to get a stir
> out of you.
> >
> > ferg
> > ----- Original Message -----
> > From: Hatcher, Chris <CHatcher@wm.com>
> > To: 'Daniel M. Altom' <DAltom@mglconsulting.com>;
> Brian Davison (E-mail)
> > <bjdavison@cmsenergy.com>; Chris Ferguson (E-mail)
> > <cferguson@stephenstephenson.com>; David Esones
> (E-mail)
> > <David.A.Esones@accenture.com>; Jason Kriendler
> (E-mail)
> > <jkriendler@yahoo.com>; Jason. Williams (E-mail)
> <jason.williams@enron.com>;
> > Jessy Babcock (E-mail) <jessy_babcock@es.adp.com>;
> Todd Grabbe (E-mail)
> > <todd.grabbe@radisys.com>; Wayne Bland (E-mail)
> <wmbland2@aol.com>
> > Sent: Tuesday, May 29, 2001 4:41 PM
> > Subject: RE: It's game time!!
> >
> >
> > > Ferg, How can I work on my problem. No matter
> how much weight I lose, I
> > will
> > > never be able to rid myself of my rump.
> > > Sorry
> > >
> > > -----Original Message-----
> > > From: Daniel M. Altom
> [mailto:DAltom@mglconsulting.com]
> > > Sent: Tuesday, May 29, 2001 2:35 PM
> > > To: Brian Davison (E-mail); Chris Ferguson
> (E-mail); Hatcher, Chris; Dan
> > > Altom (E-mail); David Esones (E-mail); Jason
> Kriendler (E-mail); Jason.
> > > Williams (E-mail); Jessy Babcock (E-mail); Todd
> Grabbe (E-mail); Wayne
> > > Bland (E-mail)
> > > Subject: It's game time!!
> > >
> > >
> > > Alright ladies, Thursday night is in Week 4 so
> it's looking like June 21
> > for
> > > the beginning of the next league.  I put us on
> the list ("We're getting
> > the
> > > band back together man").
> > >
> > > Currently on the roster:
> > >
> > > Hatch
> > > Dan
> > > Willie
> > > Ferg
> > > Kriendler
> > > Todd
> > >
> > > We're looking for some players:
> > >
> > > Shea (Jessy, could you forward this for me)
> > > Esones
> > > Wayne
> > > Kirby (Ferg, get with Kirbster, Glen and
> Lawrence)
> > > Glen
> > > Lawrence
> > >
> > > Davison is holding out at training camp until we
> raise his signing
> bonus.
> > >
> > > We play double headers at 290/Jones.  Let me
> know if you're interested.
> > >
> > >
> > > Dan Altom
> > > MGL Consulting
> > > 281-367-0380
> > > www.mglconsulting.com
> > >
> >
>

__________________________________________________
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They are in the process of signing the guarantee. The  people form Spain,
were on vacations and will return this week. I expect to receive the
guarnatee early next week.

I will keep you posted.

Agustin

From: Tana Jones@ECT on 09/06/2000 04:40 PM
To: Agustin Perez/NA/Enron@ENRON
cc:

Subject: Gas Natural SDG Guarantees

Have you heard anything back from Gas Natural with respect to getting their
signed guarantees on the Comercializadora Metrogas  and Gas Natural Mexico
trades?  I've been holding my Enron Guarantees as leverage in getting
theirs.  We are at the period in the confirms where we need to exchange
guarantees...


Thanks.  Would be useful to get a copy.

Best,
Jeff


FYI.
Thanks
Gary

-----Original Message-----
From: Susan.J.Mara@enron.com [mailto:Susan.J.Mara@enron.com]
Sent: Wednesday, December 13, 2000 11:50 AM
To: Mary.Hain@enron.com; Richard.B.Sanders@enron.com;
gfergus@brobeck.com; mday@gmssr.com; rcarroll@bracepatt.com;
Alan.Comnes@enron.com; Sarah.Novosel@enron.com;
James.D.Steffes@enron.com; Jeff.Dasovich@enron.com
Subject: WPTF ATTORNEY GENERAL -- RESPONSE TO SUBPOENA

WPTF will be submitting a ton of data to the AG office tomorrow.  It
consists of all WPTF-related data -- no member-specific data.  It includes
a password to the WPTF web site so that the guy can read all the regulatory
filings we've made -- and the burritos (weekly newsletters to the
membership).  Also they are submitting all meeting minutes, Gary's day
planner and the bylaws.  This seems fine.

=======================================================
This email message is for the sole use of the intended recipient(s) and may
contain confidential and privileged information. Any unauthorized review,
use, disclosure or distribution is prohibited. If you are not the intended
recipient, please contact the sender by reply email and destroy all copies of
the original message.

To reply to our email administrator directly, send an email to
postmaster@brobeck.com
BROBECK PHLEGER & HARRISON LLP
http://www.brobeck.com


Just to give you all a heads up...

Jeff Skilling has asked for a revenue number for EOL that represents what
Enron reports on our financial statements (including the Mark-to-Market value
of all of our open positions resulting from EOL trading).   We are
specifically looking for MTM value as of the close of trading on the 15th and
would like to be able to review the results by mid-afternoon (Houston) on the
16th.   We will need each desk to calculate their EOL-specific MTM value and
consolidate this information at the Commodity Group level (ie. U.S. Power,
Global Liquids, N. American Gas, etc.) and return it to the Product Control
Group (Torrey Moorer/Carrie Southard) by mid-afternoon on the 16th (Houston)
in order to combine the information into a report for delivery on the 17th.
We are primarily interested in the total MTM value of our open EOL positions,
but if it is possible to provide a breakout for the MTM value of EOL physical
sales, this would help us break out the revenue numbers.   If you have
questions, please contact Torrey Moorer at x36218.

Thank you!
Sheri


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---------------------- Forwarded by Darron C Giron/HOU/ECT on 10/02/2000
05:01 PM ---------------------------

"Darron Giron" <dgiron1@pdq.net> on 10/01/2000 10:21:33 PM
Please respond to "Darron Giron" <dgiron1@pdq.net>
To: <dgiron@enron.com>
cc:
Subject: Fw: FW: Paul Harvey Story ...Probably Should Circulate This One...

-----Original Message-----
From: Ronnie Giron <ronniegiron@yahoo.com>
To: Carl Swan <rcantrell@potomacenergy.com>; Georges Tadros
<georges.tadros@cima.qc.ca>; Cabell Tice <DTice55861@aol.com>; Stewart
McAdoo <smcadoo@evl.net>; Robert Missroon <rsroon@aol.com>; Filomena OLeary
<filomena@foleary.freeserve.co.uk>; Manuel Orantes <juancho629@juno.com>;
Daren Osborn <llerwin@aol.com>; Howard Osborn <hosborn@worldnet.att.net>;
Alessandro Petrini <petrini@proatec.com>; Ann Simmons
<asimmons@pearlriver.net>; Bill Simmons III <CopanLumber@aol.com>; Larry
Spears <larryspears@redshift.com>; Maria Araiza <araizam@valero.com>; Xavier
Arguello-Carrazo <inc.xac@mayanet.hn>; Roberto R Babun <babun@netsys.hn>;
Jim Douglas <douglasj@swbell.net>; Ricardo Escoto <rescoto@hn2.com>; Carlos
Giron <cgiron@mindspring.com>; Darron Giron <dgiron1@pdq.net>; Tito Giron
<Tito_Giron@ei.enron.com>
Date: Saturday, September 30, 2000 8:41 AM
Subject: Fwd: FW: Paul Harvey Story ...Probably Should Circulate This One...

>
>Note: forwarded message attached.
>
>
>__________________________________________________
>Do You Yahoo!?
>Yahoo! Photos - 35mm Quality Prints, Now Get 15 Free!
>http://photos.yahoo.com/

X-Apparently-To: ronniegiron@yahoo.com via web512.mail.yahoo.com
X-Track: 1: 40
Received: from 154.236.vwebs.com  (EHLO mail.rabey.com) (208.247.236.154)  by
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From: Kathy Atherton <KathyA@RABEY.com>
To: "'ronniegiron@yahoo.com'" <ronniegiron@yahoo.com>
Subject: FW: Paul Harvey Story ...Probably Should Circulate This One...
Date: Fri, 29 Sep 2000 16:14:25 -0400
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?
-----Original Message-----
From: Wilensky, Bob  [mailto:Wilensky.Bob@LittonDSD.com]
Sent: Friday, September 29, 2000  3:58 PM
To: Hank Coolidge (E-mail); Palmertree,  Kenneth
Subject: Paul Harvey Story ...Probably Should Circulate This  One...

>> >  __________________________________
>> > Subject: Paul Harvey story
>> > Author:? Steven M Wilson at  NOOK003L
>> >  Date:??? 09/25/2000 10:26 AM
>> >
>> >
>>  >???????? It was a Paul Harvey story  >
>>  >????? > So please pass it on !!!!!!!
>> >?????  >
>>  >????? >
>> >????? > <<  >Conveniently Forgotten Facts ?? >? >
>> >????? >?  >Back in 1969 a group of Black Panthers decided that a fellow
>> black
>> >????? >?  >panther named Alex Rackley needed to die.? Rackley was
>suspected
>> >????? >?  >of disloyalty.? Rackley was first tied to a chair.? Once
safely
>>
>>  >????? >immobilized his 'friends' tortured him  for hours by, among other
>>  >????? >? >things, pouring boiling water  on him.
>>  >????? >? >
>> >????? >?  >When they got tired of torturing Rackley, Black Panther
member
>>  >????? >? >Warren Kimbo took Rackley  outside and put a bullet in his
head.
>>  >????? >? >Rackley's body was later found  floating in a river about 25
>miles
>> >????? >?  >north of New Haven, Conn.? Perhaps at this point you're
curious
>> >????? >?  >as to what happened to these Black Panthers.? In 1977, that's
>> only
>> >????? >?  >eight years later, only one of the killers was still in jail.
>> >?????  >? >
>>  >????? >? >The shooter, Warren Kimbro,  managed to get a scholarship to
>>  >???????? Harvard.
>> >????? >?  >He later became an assistant dean at Eastern Connecticut
State
>>  >????? >? >College.? Isn't that  something? As a '60s radical you can
pump
>a
>> >?????  >? >bullet into someone's head, and a few years later, in the
same
>>  >???????? state, you can become an  assistant college dean!? Only in
>America!
>> >????? >?  >
>>  >????? >? >Erica Huggins was the lady who  served the Panthers by boiling
>the
>>  >????? >? >water for Mr. Rackley's  torture.? Some years later Ms.
Huggins
>>  >????? >? >was elected to a California  School Board.
>>  >????? >? >
>> >????? >?  >How in the world do you think these killers got off so easy?
>> >?????  Maybe
>>  >????? >? >it was in some part due to the  efforts of two people who came
>to
>>  >????? >? >the defense of the  Panthers.? These two people actually went
so
>>  >????? >? >far as to shut down Yale  University with demonstrations in
>> >????? >?  >defense of the accused Black Panthers during their trial.
>> >????? >?  >
>>  >????? >? >One of these people was none  other than Bill Lan Lee. Mr.
Lee,
>or
>> >????? >?  >Lan Lee, as the case may be, isn't a college dean.? He isn't
a
>> >????? member
>> >?????  >? >of a California School Board. He is now head of the US
Justice
>> >????? >?  >Department's Civil Rights Division.? O.K., so who was the
other
>> >????? >?  >Panther defender?
>>  >????? >? >
>> >????? >?  >Is this other notable Panther defender now a school board
>member?
>>  >???????? Is this other Panther  apologist now an assistant college dean?
>> No,
>> >????? >?  >Neither!? The other Panther defender was, like Lee, a radical
>> >?????  >? >law student at Yale University at the time.? She is now  known
>as
>> >????? >?  >The "smartest woman in the world."
>> >????? >?  >
>>  >????? >? >She is none other than the  Democratic candidate for the US
>Senate
>> >????? >?  >from the State of New York----our lovely First Lady, the
>> >????? >?  >incredible Hillary Rodham Clinton.
>> >????? >?  >
>>  >????? >? >And now; as Paul Harvey says;  you know (the rest of the
story).
>> >?????  >? >Pass this on!? She deserves the press................
>> >?????  >? > ??????????????????????????????????????????????????
????????????????


Send me both Motions for SJ. Thanks.


I expect to have it today or tomorrow morning at the latest.  I understand
that Mr. Dobler is out.  If so, Mike Miller is available to sign it.

Any new developments?

Kay

	Enron North America Corp.

	From:  Mitch Robinson @ ENRON                           07/12/2000 12:32 PM

To: Kay Mann/Corp/Enron@ENRON@ECT
cc:

Subject: Westinghouse

Kay -

Any progress on our letter to Westinghouse on Gleason?

Thanks,

Mitch


Missing deal was input under Matt Motley - 492135

491593 is Prebon - I'll change this after the calc.

492044 has been zeroes out - it was a duplicate of the same deal, which was
done with APB.

Thanks,
Kate

Kerri Thompson@ENRON
01/08/2001 02:14 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: apb checkout

missing deal for bob

buy scem
feb
25 mw
- 1.50
np 15

491593, not them

492044, not them

thanks


PLEASE NOTE SPECIAL HOURS

Notice No. 01-349
October 23, 2001

TO:		All NYMEX Members/Member Firms
		All NYMEX Clearing Members
		All NYMEX Floor Traders
		All NYMEX Operations Managers

FROM:	George Henderson, Vice President

RE:		CORRECTED: Options Expiration Operational Procedures for the
Trading 			Floor and Clearing Members - Revised Hours
________________________________________________________________

The expiration date for the November 2001 options contract for Unleaded
Gasoline (GOX1), Heating Oil (OHX1) and Natural Gas (ONX1) is Friday,
October 26, 2001.

GENERAL OPERATIONAL PROCEDURES

All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 4:40 p.m.
until released by the Exchange staff as specified below.  All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making
the expiration processing an extension of the afternoon trade resolution
procedures.  All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.

Exchange Clearing (299-2110), Floor Trade Processing (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.

CLEARING DEPARTMENT OPERATIONAL PROCEDURES

The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option
Expiration Reports will be provided. The following screens will assist you
through the Option Expiration process:

MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trade=s adjusted for the previous 4 business
days by adjustment date.

SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.

REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers TO your firm and the status of
each transfer.

REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer FROM your firm and the status of
each transfer.

EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.

DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.

POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system.  This input may be made at any time prior to 5:55 p.m.  Any PCS
input via transmission for that contract series will be disregarded.

ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.

EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.

All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.

FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.

E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.

The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:

STANDARD EVENT			APPROXIMATE TIME		  USUAL	FAST
FACTS(F)
  MESSAGES				   OF MESSAGE		EVENT TIME
E-MAIL    (E)
					  AVAILABILITY
BOTH      (B)

Announce Out-of-the    			 4:45PM		 4:45PM		F
Money Exercise and In-the-Money
Do Not Exercise Submissions

Announce Final Input to C21		 5:40PM		 5:55PM		E
Cutoff Time

All positions are deemed final	 7:00PM		 7:00PM		F

Announce Exercise/Assignment		 7:30PM		 7:30PM		B
Information Available on the Single
Position Maintenance Windows

All Report Distribution is		10:00PM		10:00PM		F
completed

The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.

If you have any questions concerning these procedures, please contact
Anthony Di Benedetto at 299-2152 or John Ramos at 299-2142 prior to the
expiration date.

 <<EXPFORMSPEC.XLS>>

 - EXPFORMSPEC.XLS


CALENDAR ENTRY:	APPOINTMENT

Description:
	Interview Z

Date:		12/14/2000
Time:		9:00 AM - 9:30 AM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Ellen,
 As we discussed, please change the Special Conditions: to read:

 In consideration of the delivery of 310,000 MMBtu of gas by Customer to
Company pursuant to Part A above and the redelivery of 310,000 MMBtu of gas
by Company to Customer pursuant to Part B above, Company will pay Customer
the sum of US Dollars $123,070.00 on April 25, 2001.  Notwithstanding
anything to the contrary contained in Section 3.2 of the Base Contract, a
party's delivery obligation pursuant to Part A and Part B above shall
continue until such party has delivered an aggregate of 310,000 MMBtu of gas
to the other party.

 I have discussed the above with Deirdre and she is okay with the language.
Remember to  add signature lines for each party and provide Deirdre with a
copy for her records.

	Ellen Wallumrod@ENRON
	02/22/2001 08:52 AM

		 To: Dan J Hyvl/HOU/ECT@ECT
		 cc:
		 Subject: Synthetic Storage - GISB

Morning Dan,

Please take a look at the the attached deal done by Deirdre McCaffrey.
She has agreed with Jeff Hodge to do this deal on a GISB contract.

Please give me a call.

Rgds,
Ellen


When: Thursday, October 18, 2001 10:00 AM-11:00 AM (GMT-06:00) Central Time (US & Canada).
Where: TBD

*~*~*~*~*~*~*~*~*~*


FYI
---------------------- Forwarded by David W Delainey/HOU/ECT on 10/10/2000
10:13 AM ---------------------------

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

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

A complete agenda will follow shortly.

Dorie Hitchcock will manage all the logistics.

Regards
Delainey


This looks to me like it's just a wild rumour, but I thought I'd pass it
along just in case anyone else has heard anything.

From John Chismar:

" . . .I was out to lunch today with some traders and one of them questioned
whether or not Platt's had contacted us yet.  His comment was that Platts was
preparing to launch an offensive against all E trade systems that use Platt's
as a settlement.  They want to claim a royalty or commision for each deal
transacted.   Must be something to it as he claims there is a precedent -
Platt's is owned by Mcgraw Hill and they publish the S & P index and
supposedly  won a lawsuit for all trades done vs that Index.   Just thought I
would pass this on to you as not sure if you were aware about this or if we
had already had legal opinions about it. "


calendar
---------------------- Forwarded by Steven J Kean/HOU/EES on 08/01/2000 07:54
AM ---------------------------

Tracy L Arthur@ECT
07/31/2000 11:49 AM
To: Dan Leff/HOU/EES@EES, Jeffrey A Shankman/HOU/ECT@ECT, Louise
Kitchen/HOU/ECT@ECT, Steven J Kean/HOU/EES@EES, Rex Shelby/Enron
Communications@Enron Communications, Tod Lindholm/Enron Communications@Enron
Communications, Jeff Donahue/HOU/ECT@ECT, Jay Fitzgerald/NY/ECT@ECT, Richard
DiMichele/Enron Communications@Enron Communications, Brian
Redmond/HOU/ECT@ECT, Jeremy Blachman/HOU/EES@EES, Michael Kopper/HOU/ECT@ECT
cc: Sandy Roberts/Corp/Enron@ENRON
Subject: Welcome New Associates - Reception


Good Morning All,
As a matter of information,  I am forwarding the below attached document.
Please give us a call, should you need us.  Thank!!

 <<organization Changes.doc>>

Administrative Coordinator - President's Office
United Way of the Texas Gulf Coast
2200 North Loop West  (77018)
Phone: 713-685-2764
Fax: 713-685-5556
E-mail: ajones@uwtgc.org
Website: www.uwtgc.org

 - organization Changes.doc


Guess Neil better start moving the plants, too.


Dear Mr. Seyfried,

I am following up on the attached message from Vasant Shanbhogue who visited
with us in San Francisco recently.  I will be in London on Friday, March
31st, and would be happy to drop by your offices to provide additional
information on our products.

At this point, the best time for me would be in the late afternoon (2PM to
3PM?).

Please let me know if you would still like to meet and if this time will
work for you.

Regards,

Rob

-----Original Message-----
From: Vasant Shanbhogue [mailto:Vasant.Shanbhogue@enron.com]
Sent: Friday, March 24, 2000 10:56 AM
To: rudy@kmv.com
Cc: Bryan Seyfried; William S Bradford; Vince J Kaminski
Subject: KMV visit

Hi Robert,

     following up on our visit to your office, Vince Kaminski and I are very
interested in your products. Bryan Seyfried, who is heading up the Credit
Trading operations in London, would like you to visit the London office when
you
are there next Friday.  He would like to discuss technical implementation
details at that time, in addition to the overall framework.  I will also
give
you a call to set up a time to have a more technical (options modeling)
conversation over the phone.

Thanks,
     Vasant Shanbhogue
     Vice President, Research
     Enron Corp


---------------------- 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,

~~~~~~~~~~~~~~~~~~This newsletter
sponsored by Citrix ~~~~~~~~~~~~~~~~~

Citrix is the world leader in application server software that ASPs
worldwide depend on to deliver mission-critical applications with
enterprise-class reliability and control. Citrix enables you to reach
more users, with more applications, in more locations - with record
speed, greater predictability and lower costs. Find out why the world's
leading ASPs depend on Citrix to stand out from the competition.
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whitepapers on Network World Fusion.
Subscribe to Whitepapers Download at
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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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Network World Fusion is part of IDG.net, the IDG Online Network.
IT All Starts Here:
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Copyright Network World, Inc., 2000


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 11/14/2000
12:05 PM ---------------------------
To: Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: Fwd: Election concession & retraction parody. Has good audio also.

---------------------- Forwarded by Ross Prevatt/HOU/ECT on 11/13/2000 01:08
PM ---------------------------

Charles H Otto
11/13/2000 01:03 PM
To: Ross Prevatt/HOU/ECT@ECT
cc:
Subject: Fwd: Election concession & retraction parody. Has good audio also.

---------------------- Forwarded by Charles H Otto/HOU/ECT on 11/13/2000
02:01 PM ---------------------------

Chris Gaskill@ENRON
11/13/2000 12:35 PM
To: Charles H Otto/HOU/ECT@ECT, Tara Piazze/NA/Enron@ENRON
cc:
Subject: Fwd: Election concession & retraction parody. Has good audio also.

---------------------- Forwarded by Chris Gaskill/Corp/Enron on 11/13/2000
12:35 PM ---------------------------

Marc Bir <marc@delphihome.com> on 11/13/2000 12:29:45 PM
To: Chris.Gaskill@enron.com
cc:

Subject: Fwd: Election concession & retraction parody. Has good audio also.

><http://www.mediatrip.com/shows/phone_flash.html
>http://www.mediatrip.com/shows/phone_flash.html


Jeff,
I've spoken to Robin Hill's office, (EBS Legal) and this is what we need to
get the NDA shipped:
1) Legal entity name
2) Business Address
3) if possible, name and title of signatory party at IOS

Please get this information together and send to Robin Hill.  She should be
able to return the NDA in 2 business days.
By the way, I spoke with Matt Harris, and we think this opportunity would be
best handled by Kirk Neuner's group.  What is your take?
Thanks,

Dan Minter
V: (503)886-0452
F: (503)886-0441


Dear PIRA Client,

PIRA has created a new presentation on the world economy. You can access
this presentation via PIRA Online (www.pira.com) by logging in and, from
the Client Home page, choosing "World Economy" from the "Macro Data"*
drop-down menu at the top of the screen. We have also updated the
existing slideshow accessible from the "US Economy" link.

The presentation consists of a table and charts that encapsulate GDP and
IP performance, by country/region, for 2000-2002. It is a useful
comparative recap for the existing slideshows on the U.S., European, and
Japanese economies. Given the overall importance of economic trends and
their impact on regional and global energy markets, PIRA maintains
databases of key economic indicators to support our analyses of energy
fundamentals and the associated market forecasts. These presentations -
which are updated as new data become available - are being made
available complimentarily to all PIRA Online users.

If you need a user name and password for PIRA Online, or if you need
help logging in, please contact Dyana Rothman at (212) 686-6808, email:
support@pira.com. (*If you are having trouble finding the "Macro Data"
link, go to the FAQ page on PIRA Online and click on question number 4.)

Gary N. Ross
Chief Executive Officer
PIRA Energy Group