SENT ON BEHALF OF PETER KEOHANE:

FYI
---------------------- Forwarded by Sharon Crawford/CAL/ECT on 05/29/2001
11:52 AM ---------------------------

	Enron Capital & Trade Resources
	Canada Corp.

	From:  Peter Keohane                           05/14/2001 09:33 AM

To: ferickson@cal.stikeman.com
cc: Chris Gaffney/TOR/ECT@ECT
Subject: Derivatives Regulation

Fred, its been a while - how are you?

I would like to talk to you regarding a summary of the applicability (and
more accurately non-applicability) of certain regulatory requirements to our
energy intermediation business.

In particular, I have in mind the Natural Gas Marketing Act (Alberta),
Securities Act (Alberta), Securities Act  (British Columbia), Securities Act
(Ontario), and Commodity Futures Act (Ontario).

As you know, we are involved in Canada, primarily in Alberta, Ontario and BC,
in physically and financially-settled commodities trading and origination,
primarily for gas and electricity, and providing risk management and
commodity portfolio advice to various counterparties.

It would be useful to have an analysis, both for internal purposes and to
share with third parties, confirming the applicability of these regulatory
requirements to our business.

We currently operate in these areas under the following understandings:

Natural Gas Marketing Act (Alberta) - the Act applies to "netback"
arrangements applicable to gas aggregation where there is no specified price
agreed to between the producer and the shipper, and is therefore largely not
applicable to our business

Securities Act (Alberta) - we are a Qualified Party by virtue of the
"commercial user" exemption and our counterparties are similarly or otherwise
exempt, and in any event we obtain a rep to that effect from  our
counterparties

Securities Act (BC) - similarly, we and our counterparties are Qualified
Parties and we obtain a rep to that effect (note:  the Qualified Party
exemption in BC extends only to the registration and prospectus requirements,
but we otherwise take the "risk" as there is not much we can do to comply
with the other operative provisions of the Act, which I am not sure even make
sense in the context of our business)

Securities Act (Ontario) - the proposed amendments have not been enacted and,
hopefully, if and when they are, we will be able to rely on similar
exemptions or exclusions

Commodity Futures Act (Ontario) - the Act only applies to exchange traded
forward contracts or options (whether or not exchange traded) on exchange
traded forward contracts (or "commodity futures contracts" and "commodity
futures options"), and not to trading on a spot basis or over-the-counter
(note:  although we believe there is a technical argument that electricity is
not a "commodity" under the Act, unless the IMO will be classed as a
"commodity futures exchange", which we assume it will not (both by its
purpose and creation and the fact that it is a spot market), and as there is
no other exchange of which we are aware, either proposed or operative, in
Ontario for forward gas or power contracts, we understand the Act as not
being applicable to our business)

What is not so clear to us, particularly with respect to the Securities Acts,
is how these statutes apply not when we are trading as principal for our own
account (where we understand the exemptions to apply), but where we are
providing portfolio positioning or risk management advice to counterparties.
Do the exemptions apply in this case, or are there some "advisor" or "dealer"
registration or compliance requirements in these circumstances?  I also
believe there are registration requirements for advising under the Commodity
Futures Act (Ontario), but again these would apply to "commodity futures
contracts" and "commodity futures options" in which we don't deal.

Fred, I guess, in summary, what we would like is an executive summary-type
memo (not a formal "legal memorandum") which can be shown to commercial
employees and counterparts which addresses these issues and hopefully
confirms our approach to date.  I would also like to know if there are
regulatory requirements that we have missed.  I am not concerned with
"operational regulations" (such as under the Electric Utilities Act
(Alberta), Gas Utilities Act (Alberta), Electric Utilities Act (Alberta),
Fair Trade Practices Act (Alberta), Electricity Act (Ontario), Electricity
Competition Act (Ontario) and Ontario Energy Board Act (Ontario)) but
regulation of our commodity trading, origination and risk management advisory
business.

After you have had a chance to digest this, can you please have your
assistant call Sharon @ 974.6726 so we can schedule a time that Chris Gaffney
(my colleague in Toronto) and I can discuss this with you.

Peter.


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

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

Crude Continuation     http://www.carrfut.com/research/Energy1/cl77.pdf

Natural Gas Continuation
http://www.carrfut.com/research/Energy1/ng77.pdf

Brent Continuation     http://www.carrfut.com/research/Energy1/qo77.pdf

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


fyi, of the 12 participants, we've briefed reps from three of the companies
(Exodus, Kleiner Perkins Caufield & Byers, Wal-Mart), plus Dick Riordan....
---------------------- Forwarded by Karen Denne/Corp/Enron on 05/25/2001
05:10 PM ---------------------------

Sandra Yamane <SYamane@marathon-com.com> on 05/25/2001 03:12:53 PM
To: "'karen.denne@enron.com'" <karen.denne@enron.com>
cc:

Subject: FW: Roundtable Participants

Karen
Attached is list of confirmed participants from the White House for the
meeting in LA on Tuesday.

 (See attached file: Energy Roundtable Participant List.xls)
>  <<Excel 2.x Chart>>

 - Energy Roundtable Participant List.xls


Vince,

I will supply a generic example.

Zimin

Vince J Kaminski
03/06/2001 09:31 AM
To: Zimin Lu/HOU/ECT@ECT
cc:
Subject: A Request

Zimin,

It seems that the academia is catching up.
Do you have a realistic case we can show them?
Something generic.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/06/2001
09:31 AM ---------------------------

ds64@cyrus.andrew.cmu.edu on 03/02/2001 09:39:43 AM
To: "Vince J Kaminski" <Vince.J.Kaminski@enron.com>
cc:
Subject: A Request

Vince,

I am writing to ask for your help with some research I am doing with John
Lehoczky and a PhD student.  We trying to apply recent advances in Monte
Carlo for American options to value Swing and other options with multiple
early exercise decisions that are important in energy markets.  I know in
general that early exercise shows up in a wide range of energy contracts,
both real as welll as financial.  Would it be possible for you, either via
email or on the phone, to give us some examples of typical terms for such
instruments?  We would like our examples to look realistic.  We also want to
make sure we are focusing on the right sorts of optionality.

Thanks in advance,
Duane

********
Duane Seppi

Graduate School of Industrial Administration
Carnegie Mellon University
Pittsburgh PA  15213-3890

tel. (412) 268-2298
fax (412) 268-8896

email ds64+@andrew.cmu.edu


Dan,

ENA - Texas currently has tranport contracts on PGEV and Oasis pipelines
(listed below).  Since we are transacting as Houston Pipe Line for the
majority of our trades, we need these contractsto be assigned from ENA to
HPL.  Or, we need to enter into new agreements as HPL.  What is the process
used to accomlish this?  We would like to get this set up as soon as we can.

Thanks.

Daren
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 03/22/2000
12:00 PM ---------------------------
Stacey Neuweiler   03/21/2000 12:21 PM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Transport contracts

D-

The Oasis contract #s are:  028 27099 201
        028 27099 202
        028 27099 203
        028 27099 204

PG&E contract #s are: 5095-037
   5098-695
   9121
   5203-010

PG&E parking and lending contracts awaiting approval: PLE00004
       PLA00004


FYI
---------------------- Forwarded by Mitchell Taylor/Corp/Enron on
03/21/2000 05:49 PM ---------------------------

Francisco Pinto Leite@ENRON_DEVELOPMENT
03/21/2000 05:38 PM

To:   Amit Walia@ECT
cc:   Mitchell Taylor/Corp/Enron@ENRON, fsayre@ei.enron.com, Randy
      Young/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject:  Confidential

Apparently our local counsel in Puerto Rico had a small "change of heart"
as to the transfer restrictions for San Juan Gas, Procaribe and Progasco.
Although the statute does not contain a change of control provision with
respect to the licenses, it appears that after carefully looking into this
issue, local counsel found out that the Puerto Rican authorities are taking
a very aggressive approach with respect to transfers of control of holders
of licenses.  Apparently the Puerto Rican authorities argue that the spirit
of the statute is to extend the requirement of prior authorization for
transfers of the licenses, to a change of control of the operator.  In his
response to Bill Weiland from V&E he advised that it would be more prudent
to request permission to change control of the company that holds the
license.

FPL


FYI
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 12/12/2000
01:58 PM ---------------------------

Diane H Cook
12/12/2000 03:10 PM
To: Jeffrey T Hodge/HOU/ECT@ECT
cc: Christi L Nicolay/HOU/ECT@ECT

Subject: final again

I promise this is the final file:


Hey Ami,

I am sorry what were you looking for?

Monika

-----Original Message-----
From: Thakkar, Ami
Sent: Tuesday, October 16, 2001 8:48 AM
To: Causholli, Monika
Subject: RE: RISI

hey monika,

i was just wondering if you had heard anything from RISI?

thanks,
ami

-----Original Message-----
From: Causholli, Monika
Sent: Wednesday, October 10, 2001 3:51 PM
To: Thakkar, Ami
Subject: RE: RISI

Hi Ami,

Sorry for not getting to you earlier. I am at home today. I don't think I have the MTH prices. I have requested those from RISI today so hopefully they will send them to me fast. The other prices are in the folder o:/Industrial Markets/Fundamentals/Paper/Pulp/RISI PRICES

Thanks,
Monika

-----Original Message-----
From: Thakkar, Ami
Sent: Wed 10/10/2001 12:30 PM
To: Causholli, Monika
Cc:
Subject: RISI

quick question....which report in RISI do i look at for these numbers? thanks!!

Conduct an correlation analysis between NBSK and Mixed Tropical Hardwood (MTH) price  and between BEK (Bleached Eucalyptus Kraft) and MTH


---------------------- Forwarded by Phillip M Love/HOU/ECT on 04/24/2001
10:12 AM ---------------------------
From: Veronica Espinoza/ENRON@enronXgate on 04/24/2001 09:47 AM
To: Janie Aguayo/HOU/ECT@ECT, Diane Anderson/NA/Enron@Enron, Derek
Bailey/Corp/Enron@ENRON, David Baumbach/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT,
Patricia Boulanger/CAL/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Julie
Brewer/NA/Enron@Enron, Lesli Campbell/ENRON@enronXgate, Celeste
Cisneros/NA/Enron@Enron, Sharon Crawford/CAL/ECT@ECT, Richard
Deming/NA/Enron@Enron, Russell Diamond/ENRON@enronXgate, Cindy
Feldman/CAL/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Veronica
Gonzalez/ENRON@enronXgate, Jeffrey C Gossett/HOU/ECT@ECT, Walter
Guidroz/ENRON@enronXgate, Larry Joe Hunter/HOU/ECT@ECT, Kam
Keiser/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON, Nidia Mendoza/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Bianca Ornelas/NA/Enron@Enron, Leslie
Reeves/HOU/ECT@ECT, Tanya Rohauer/ENRON@enronXgate, Dianne Seib/CAL/ECT@ECT,
Linda Sietzema/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Ellen
Wallumrod/NA/Enron@ENRON, Melinda Whalen/CAL/ECT@ECT, Tiffany
Williams/NA/Enron@Enron
cc:
Subject: Credit Report--4/24/01


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 06/22/2000
08:58 AM ---------------------------

"Jan Svajian" <Jan.Svajian@dvn.com> on 06/22/2000 08:03:51 AM
To: <Ami.Chokshi@enron.com>
cc:

Subject: Nom Change on Tejas Pipeline for Garza Plant

See attached.

 - Enron Nom Change.xls


Power 2000 Operational Risk for Kevin


Start Date: 1/28/02; HourAhead hour: 9;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012809.txt
###Cannot locate a Preferred or Revised_Preferred Schedule that matches the FINAL Individual Interchange Schedule.  Unable to assign deal number.


NYMEX TO BEGIN TRADING ELECTRICITY FUTURES CONTRACT ON SEPT. 14
7/19/0 11:33 (New York)

     (The following is a reformatted version of a press release issued by
New
York Mercantile Exchange.)

Exchange Sets Launch Date for Mid-Columbia Electricity Futures Contracts

     NEW YORK, NY, July 17, 2000 - The New York Mercantile Exchange today
announced September 15 as the launch date for its electricity futures
contract
based on delivery in the Mid-Columbia River region.
     The contract will begin trading at 4 PM on September 14, which marks
the
start of the September 15 electronic trading session.
     This contract will be traded electronically along with the other
Exchange
electricity contracts on the NYMEX ACCESSr system, with the session
beginning at
7 PM on Sundays and 4 PM on Mondays through Thursdays and ending at 2:30 PM
Mondays through Fridays.
     Other than delivery location, the contract will reflect the terms of
the
Exchange's California/Oregon border and Palo Verde electricity futures
contracts
including a unit size of 432 megawatt hours (Mwh) of firm electricity,
delivered
at a rate of one megawatt per hour, with the size of the actual delivery
varying
according to the number of on-peak days during the delivery month.
     Exchange President R. Patrick Thompson said, "We are delighted that we
will
be able to add a tool based on this active market center to our electricity
risk
management and price discovery product mix. We continue to work with the
industry to introduce products and services that meet the needs of this
rapidly
evolving marketplace."
     Other terms and conditions paralleling those in all of the Exchange's
existing electricity futures contracts, include:
     Delivery Period-16 on-peak hours: hour ending 0700 (6 AM) Pacific time
to
hour ending 2200 (10 PM)Pacific time on each business day of the delivery
month
     Termination of Trading-Trading in the delivery month shall cease on
the
fourth business day prior to the first day of the delivery month.
     Prices and Fluctuations- Prices shall be quoted in dollars and cents
per
Mwh. The minimum price fluctuation will be $.01 per Mwh. There is no
maximum
daily price fluctuation.

Contact:
Nachamah Jacobovits
212 299-2430

Maria Gonzalez
212 299-2436


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November 11, 2000

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I finally completed 2nd update of docs on DealBench. Changes are as follows;

DD indices highlight changes only made this time on 10/22/00.
I uploaded new docs with date in New Documents Section on DealBench.

Here are new indices. Thanks. Jin


let me see... I also have your printer sitting on a chair in my office..

 -----Original Message-----
From: 	Hyatt, Kevin
Sent:	Monday, February 25, 2002 11:10 AM
To:	McFarland, Jean
Subject:	windows help

Jean,
	I'm trying to rebuild my PC at home.  The hard drive cratered on me.  I've installed a new one, but the only windows operating system I have is on a restore disk from Compaq (win95) and for some reason, it's giving me an "image builder" error when I try the restore.  This may be due to the fact that I trying to restore on a bigger hard drive than the original.

Anyway, I also have win98 upgrade 2nd edition.  When I try to load this, is looks for verification of ownership of a previous win system (which I don't have except on the restore disk which won't work).

So my question is this, do we have an old Win98 operating system lying around I can borrow so I can load my win98 upgrade?

thanks,
Kevin
x35559


FYI -

We will NOT be confirming hourly trades for generators or any other counterparties until further notice. The logistics of the process are still being worked out. In the meantime, keep checking "No Confirm" on all deals.

Bloomberg deals are another story. They do get confirmed everyday. However, the people in the Confirms group know this inherently and do not need the added validation of a "Yes Confirm" checkmark. What they do need is a clue as to which deals have been done with Bloomberg, and the best way to convey this is by typing "Bloomberg" next to the word "Broker" in your Deal Entry screen.

If this is unclear, please let me know.

Thanks,
Kate


Julian Rose
15 Greenwich Hills Drive
Greenwich, CT 06831

Phone:  (203) 531 0691 (h)
 (203) 829 9300
 Debbie Parker (203) 625 7970


Steph, what do you think about RFPing the PGT capacity if and when we get a standstill from Suncor...I was thinking we could send to SMUD, Morgan Stanley, Calpine, perhaps avista.  It might be a bit radical... but perhaps can drive out the highest value.

BT


Mark, this is a good point.  In Moody's June 1999 study, Debt Recoveries for
Corporate Bankruptcies, there is a graph of Firm-Level Recovery Rates by Year
of Bankruptcy Resolution (as opposed to default year).   Reading from the
graph finds:

As the data above is based on resolution year, the same study finds the
average length of time spent in bankruptcy is 1.30 years (median 1.15 years
and standard deviation of 1.20 years).  The interesting point is the slide in
recovery value 1996 to 1998.   One would wonder if the mix of high-yield
issuance slanted towards the tech companies would yield lower recoveries
(quick technological obsolescence--little tangible recovery value).

Interesting to note is the December 1999 to December 2000 change in spreads.
The table below divides the December 2000 spreads by the December 1999
spreads.   One would have expected a pronounced flight to safety over this
time-frame, but the figures are more mixed:

To: Michael Tribolet/Corp/Enron@ENRON, William S Bradford/HOU/ECT@ECT, David
Gorte/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT
cc:

Subject: Re: Default rates

Per our discussion, see attached for impact of assumed recovery rates:

Michael Tribolet@ENRON
12/11/2000 08:09 AM
To: William S Bradford/HOU/ECT@ECT, David Gorte/HOU/ECT@ECT, Vince J
Kaminski/HOU/ECT@ECT, Mark Ruane/HOU/ECT@ECT
cc:
Subject: Default rates

Please see below for my note to Jeremy at the bottom and his reponse.   I
have placed Mark Ruane's yields against a mid November default frequency
table.   Note there may be a slight shearing in dates, but the concept is
more important:

Market implied cumulative default rates (%):

                 1 year     5 year     10 year
AAA         0.51           5.74         14.54
AA            0.67           6.39          16.61
A               0.98           8.98          21.03
BBB         1.17           9.88          22.39
BB             3.27        18.62          37.51
B                4.65         24.21         46.27

S&P Historical default rates (%):

                 1 year     5 year     10 year
AAA         0.00           0.13          0.67
AA            0.01           0.33          0.90
A               0.04           0.47          1.48
BBB         0.21           1.81           3.63
BB             0.91          8.82          14.42
B                5.16         20.95         27.13

In looking at the One-Year transition rates as a very rough proxy for how
many more defaults occur in a recession (1991) versus average (1981-1999)
historical default rates (%):

                             Investment grade                Non-Investment
grade
Avg. 1981-99            0.07                                             4.21
1991
0.12                                           10.40
Multiple                      1.7x
2.5x

Looking at where the market implied default rates divided by the historicals
default rates to obtain a "multiple" (how much more severe than historical):

                 1 year     5 year     10 year
AAA         infinite      44.2x       21.7x
AA            67.0x        19.4x       18.5x
A               24.5x         19.1x      14.2x
BBB           5.6x           5.5x        6.2x
BB             3.6x           2.1x         2.6x
B                 1.1x           1.2x        1.7x

On the 10 year historical figures,  we need to be careful as the S&P static
pool figures show a definite seasoning (lower defaults in late years probably
due to prepayment) versus our contracts.  Secondly, the S&P figures have
Withdrawn ratings, which usually mean they are stale, but loosing some
information content.

I will ask Emy to set up a meeting to discuss further.

---------------------- Forwarded by Michael Tribolet/Corp/Enron on 12/11/2000
07:06 AM ---------------------------
From: Jeremy Blachman@EES on 12/10/2000 07:21 AM
To: Michael Tribolet/Corp/Enron@Enron
cc:

Subject: Default rates

Thanks. I would STRONGLY  suggest an offsite sooner than later with a handful
of the right people so that we can step back and design the right
architecture for looking at credit in our deals. It is broken, not clear,
killing our velocity and true capabilities. We also need to look at staffing,
skills sets, the credit reserve model etc. Perhaps you should take a crack at
an agenda.
---------------------- Forwarded by Jeremy Blachman/HOU/EES on 12/10/2000
07:08 AM ---------------------------

Michael Tribolet@ENRON
12/09/2000 03:51 PM
To: Jeremy Blachman/HOU/EES@EES
cc:
Subject: Default rates

I visited with Vince Kaminski for about 20 minutes today regarding the market
implied defaults rates  and the disconnect in investment grade land.  He is
seeing the same anomaly and agreed that we as a company need to revisit the
methodology employed in calculating the implied figures.     I will follow
through and report back.


here is Jennifer's message ....
Sheri
---------------------- Forwarded by Sheri Thomas/HOU/ECT on 09/12/2000 10:14
AM ---------------------------

From:  Jennifer deBoisblanc Denny
                08/15/2000 02:43 PM

To: Beth Perlman/HOU/ECT@ECT
cc:  (bcc: Sheri Thomas/HOU/ECT)
Subject: Bridge Problems

Beth,
I know you are at the VP level but I thought I would forward you the memo
below.
I wrote it to explain to the EnronOnline Call Center the various issues we
have been having with the "bridge" since they get a vast
number of internal calls when we have a problem.

Please let me know if you have any questions or if I should be funneling
these concerns to a particular person.
Thanks.
Jennifer
3-5824

---------------------- Forwarded by Jennifer deBoisblanc Denny/HOU/ECT on
08/15/2000 02:31 PM ---------------------------

From:  Jennifer deBoisblanc Denny
                08/10/2000 05:22 PM

To: EOL Call Center
cc: Sheri Thomas/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Torrey
Moorer/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Tara Sweitzer/HOU/ECT@ECT
Subject: Bridge Problems

Over the last 8-10 business days, we have had a some issues on the bridges. I
want to educate you a little bit on what can cause
"bridge problems".

First, what I want to explain is their is ONE GUI bridge application for
users (backoffice users) to monitor the bridge but there are MULTIPLE
systems that EnronOnline transactions can be pointed to downstream. This is
important to understand because if you do not know this ,
it may seem like we are having the same problem over & over; ie "the bridge
is having problems". But in actuality, it is DIFFERENT
problems. Still not good - but at least it cannot be isolated to ONE
problem.

Also, due to multiple systems (Sitara, Enpower, GasDesk, Tagg/ERMS,
Powerdesk) are listening for messages from one EnronOnline,
a "bridge" problem could be one of many issues. Some of which are:

 The server for EnronOnline  messenger goes down (doesn't send message to
bridge to process)
 The Enron network goes down (cannot send message thru bridge)
 The NFS server (Enron main server) goes down
 Sitara server goes down
 Enpower server goes down
 Tagg/ERMS server goes down
 Deal worker in ANY system gets "hung up"
 Huge volume slows down processing time for one or more downstream systems
 Scheduled outage for maintenance on server on weekend was not re-started on
Sunday

and the list goes on.....................................

FYI In the past week & 1/2, the following actions happened, which caused
"bridge" problems.

 Scheduled outage for maintenance on TAGG/erms server on weekend was not
re-started on Sunday (not smart)
 The NFS server (Enron main server) goes down (affected Sitara & Tagg/ERMS)
 Deal worker in Sitara system got "hung up" and servers had to be bounced
 Member of EnronOnline Dev Team changed data for specific tokenised periods
during trading hours instead of end of day
  (This failed deals in bridge for Sitara & Tagg/ERMS)

One thing to remember is you are getting calls from traders & back office.
Traders are calling because they cannot see deals in their
position manager application of their system. If they are gas traders, if
could be Sitara or Tagg system. If they are a power trader
calling, they cannot see it in Enpower. ecetera, ecetera

If a back office person calls, they are watching the monitor GUI and they can
see deals queing/backing up and know there is a problem.

We are working to resolve some of these issues, particularily,
multi-processing tools, as we know the # of transactions will only increase.
Please feel free to email me if you have any questions. I hope this was
helpful.

See below for explanation of problem on Wednesday.

---------------------- Forwarded by Jennifer deBoisblanc Denny/HOU/ECT on
08/09/2000 03:50 PM ---------------------------

KARIE HASTINGS
08/09/2000 02:06 PM
To: Jennifer deBoisblanc Denny/HOU/ECT@ECT
cc: Mark Kinkead/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT, Thomas
Engel/HOU/ECT@ECT
Subject: Sitara Production Problem

I am forwarding a message that explains the Sitara Production problems from
this morning. Please let me know if you have any additional questions.

Karie (36759)

At  9:50am this morning a DealWorker process in the Sitara system became
unresponsive.
At  10:00 am it was determined that the EOLBridge in sitara was not
processing new deal requests
and diagnostics lead to an indication that the dealworker was not functioning
properly.
At 10:14, am the Dealworker was forced down and a new one restarted.
At 10:21 am , the EOLBridge began processing deals.

The cause of the is difficult to determine, but indicators point to an error
in the CORBA product we are using,
most likely due to scalability issues of that product and of Sitara. This is
an issue that is actively being addressed.

--Mark Kinkead
3-1961


Mark, sorry we have not been able to connect since you have been in Brazil.
I concur with your summary of the tax issue below and, if the facts are as
you posit, we would need to implement a cost sharing arrangement to address
the tax exposure raised by having a person located in London who acts on
behalf of ENA and, even at that, there may be additional concerns that would
have to be addressed.  Separately, I have spoken with Jeff Blumenthal
regarding the Singapore domain name issue and, in general, believe that we
should be able to have ECTS acquire the domain name (which, from my
discussion with Jeff, I understand is required due to Singapore rules
requiring such names only be held by Singaporeans) and cross-charge ENA for
the expense associated with it.  In this fashion, we place the costs of EOL's
forage into Singapore with ENA who, in turn, allocates such charge to the
participants of EOL via the EOL Cost Sharing Agreement.  Finally, Jeff has
contacted Janine Juggins in London regarding an assessment of the tax
presence issues raised by ECTS's acquisition, and  EOL's use, of a domain
name in Singapore but my initial reaction is that such activity should not
present any significant Singapore tax nexus issues - we will follow up with
you on this after Janine is able to solidify our advice on the matter.  I
hope all is well with you in Brazil and look forward to speaking with you
soon.  Best regards.

To: Bob Crane/HOU/ECT@ECT
cc: Stephen H Douglas/HOU/ECT@ECT, Jeff Blumenthal/HOU/ECT@ECT, Dale
Neuner/HOU/ECT@ECT
Subject: Re: Change of pulp description

I have no objection to changing the product name.  The tax issue concerns the
location of the trader - if the guy managing the prices is in London but the
transactions are with ENA, there may be tax implications.

Mark

Bob Crane
04/25/2000 08:35 AM
To: Mark Taylor/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT
cc:
Subject: Change of pulp description

Mark,

I have not yet been contacted by legal/tax regarding the change of
description for PIX indices.  We still basically want only to delete "US" and
replace it with "PIX".  To my simplistic, non-legal, mind this is a pretty
simple issue....can't we just do it??

Bob


Jeff,

Thanks for this analysis. I think we would all agree that the solution to
put power
100% in the hand of the state is an extremely frightening proposition.
Unfortunately, it
falls in-line with what Gov. Davis likes to do, which is to control all of
the process himself.
I know John will not be able to digest all of this, but will brief him over
the phone on the
excellent arguments you make here against support for AB1X.

I will give you all feedback from the meetings tomorrow. Thanks for all
your help.

Laura

At 10:02 AM 2/14/2001 -0600, Jeff.Dasovich@enron.com wrote:

>Hi Laura:  I've attached three things, but first wanted to give you a bit
>of an update on events transpiring in Sacramento and at the Public
>Utilities Commission.
>
>Move to Prohibit Customer Choice
>As you may know, AB1X, the bill that the Legislature recently passed and
>the Governor signed, gives the California Department of Water Resources the
>authority to buy power on behalf of the utilities.  Included in that bill,
>however, is a provision that prohibits "Direct Access,"  California's term
>for customer choice.
>
>In sum, the bill, in its current form, prohibits businesses and consumers
>from chosing an alternative energy service provider, like Enron.  Our
>understanding is that the Department of Finance called for the prohibition.
>Their reasoning is that they need a "captive" customer base to pay for the
>bonds that the State will issue in order to finance DWR's power purchases.
>
>Customer choice was of course the foundation of California's restructuring
>law, AB 1890, and is arguably the only bright spot in an otherwise fatally
>flawed plan.  For example, the only businesses and consumers that were
>protected in San Diego when rates were deregulated last year were those
>businesses and consumers that had signed fixed price power deals with
>competitive service providers.  Ironically, the recently passed legislation
>takes choices away from consumers and diminishes their ability to manage
>their energy costs.  Before AB 1890, consumers and businesses had one
>choice--the monopoly  utility.  With the passage of AB 1X, they again will
>have one choice. But this time their only choice will be to buy from a
>government agency DWR.
>
>A broad coalition of consumer groups has expressed its opposition to the
>prohibition and Senator Debra Bowen (a key player on the Senate side), and
>Fred Keeley (a key player on the Assembly side), have promised to "fix" the
>prohibition in another bill "SB27X."  I'll forward in another email the
>language that the coalition has drafted and hopes Bowen and Keeley will
>carry.
>
>Unfortunately, we are now hearing rumors that the Governor intends to
>direct the California Public Utilities to immediately implement the
>provisions of AB1X prohibiting Direct Access, despite the fact that a large
>coalition of consumers and service providers are actively working with Bown
>and Keeley to amend the prohibition language.
>
>It would be extremely useful if the folks participating in the meeting on
>Thursday with the Governor let him know that taking choices away from
>businesses and customers is the wrong way to go and that he and the
>legislative leaders need to work with the coalition to fix it.  You'll note
>in the language developed by the coalition that the proposal strikes a
>reasonable balance between the Dept of Finance's concerns about recouping
>DWR's costs of buying power, and the need to give consumers and businesses
>maximum flexible in managing their energy costs.
>
>Move to Have the State Take Over the Electric Industry in California
>
>John Burton, the Democratic leader of the Senate, insists that, "if
>California is going to 'bail out' the utilities, the State needs to get
>something in return."  Burton wants the state to buy and operate PG&E's and
>Edison's transmission system and create a state power authority that would
>get in the business of (among other things) developing, financing,
>constructing and operating power plants and natural gas pipelines.  Burton
>got both of these bills designed to take over the industry passd out of his
>committee yesterday (SB6X and SB33X).  It is unclear how much support he
>has in the full Senate or in the Assembly, but the possibility of passage
>is certainly greater than zero at this juncture.
>
>Others experts are offering a better alternative.  When the federal
>government helped Chrysler out of its financial difficulties 20 years ago,
>the federal government received stock warrants in return.  Until recently,
>the Governor favored warrants, but more recently he has waivered in his
>statements regarding a state take over.  Burton appears to have negotiating
>leverage with the Governor and appears to be using it.
>
>Again, it would be extremely useful for folks to let the Govenor know in
>the meetings on Thursday that a State take over of the industry is an
>extreme move and bad public policy.  I will forward to you in a separate
>email letters that we sent to Burton expressing our opposition to his bills
>and the reasons for our opposition.  In brief, there is no shortage of
>private capital ready and willing to invest in California's energy
>infrastructure (i.e., power plants, electric transmission lines, gas
>pipelines).  All California needs to do is create the investment climate
>necessary to attract the capital.  In addition, history shows that the
>State is extremely ill-equipped to become California's mega-utility.
>
>Here are the attachments:
>
>    A demand buy-down proposal.  We made this proposal to the Governor (and
>    continue to propose it to policymakers in Sacramento, Washington D.C.
>    and just about everywhere else).  In short, the notion is that, if the
>    market is willing to pay power producers, say, 7 cents/kwh to "produce"
>    power, then the market ought to be willing to pay businesses and
>    consumers 7 cents/kwh to "reduce" power consumption.
>
>    This approach is critical for two reasons:  first, it provides
>    businesses and consumers the financial incentives necessary (and that
>    California currently lacks) to conserve energy and use energy more
>    efficiently.  Second, because California delayed identifying and
>    implementing a solution to California's energy crisis, its options for
>    addressing the severe shortages that are likely occur this summer are
>    very limited.  Reducing demand represents one of the few options that
>    can help to immediately reduce the gap between supply and demand.
>    Putting financial incentives in place now to reduce demand and "free up"
>    electrons is an investment with significant payback.
>
>    A "manifesto" recently released by a group of Berkeley and Stanford
>    economists and industry experts urging the Govenor to pursue a
>    "market-oriented" solution to California's energy crisis.
>
>    An editorial in yesterday's Wall Street Journal by Dan McFadden, a nobel
>    prize-winning economist from Berkeley echoing the proposal advanced in
>    the "manifesto."  McFadden was one of the manifesto's signatories.
>
>Finally, we are working on "model Legislation" proposing a market-based
>solution that we will share with you soon and that we hope the business
>community--and the Valley in particular--can embrace and advocate.
>
>I realize that this is a lot of information and I apologize for the length
>of this note, but I wanted to try to make sure that you're up-to-date.
>Please don't hesitate to give me a call if you'd like to discuss further.
>
>Best,
>Jeff
>
>
>(See attached file: Manifesto-final version.doc)(See attached file:
>McFadden Editorial in WSJ.doc)(See attached file: Demand buy-down
>proposal.doc)
>
>


Just caught the tail end of this....i agree, there is no need to award SPP RTO status if they merge with MISO.  If they don't merge, then FERC has already said that SPP doesn't have required scope and config.....and now that Entergy has departed (seems like FERC should simply remove market based rate authority for SPP utilities if they aren't part of an RTO by 12/15).....appears to be SPP Plan B to get additional leverge in the negotiation with MISO.

regards
Mike

 -----Original Message-----
From: 	Maurer, Luiz
Sent:	Wednesday, October 24, 2001 4:58 PM
To:	Nicolay, Christi L.; Steffes, James D.
Cc:	Ryall, Jean; Roan, Michael
Subject:	RE: Texas Comission supports prompt implementation of SPP

It makes a lot of sense

LM

 -----Original Message-----
From: 	Nicolay, Christi L.
Sent:	Wednesday, October 24, 2001 4:55 PM
To:	Maurer, Luiz; Steffes, James D.
Cc:	Ryall, Jean; Roan, Michael
Subject:	RE: Texas Comission supports prompt implementation of SPP

SPP is joining MISO and today MISO said that the merger should be filed at FERC 1Q02.  MISO also told FERC that the same congestion management systems would be used in SPP/MISO, so no seams.  Since MISO is moving toward the market design we want, then really it seems that SPP should be implementing the MISO system for Day1 (which may well be up 12/15/01) and should be right in line with MISO on Day 2 issues (that we like).

However, FERC should not approve SPP as an RTO until it is in with MISO.  I don't see that FERC needs to approve SPP as an RTO in order to allow SPP to finish work on a wholesale energy system because presumably SPP will be using MISO's system.  This summer FERC told SPP to not spend more $ since it was not an RTO yet and it was going off on its own merry way.  Therefore, FERC could say "use MISO's system and specify exactly the minimum that needs to be done on systems in order to have the TX retail settlements done.  This should be done consistent with the no seams, as represented by MISO."  That should satisfy Texas PUC concerns.

 -----Original Message-----
From: 	Maurer, Luiz
Sent:	Wednesday, October 24, 2001 4:39 PM
To:	Steffes, James D.
Cc:	Nicolay, Christi L.; Ryall, Jean
Subject:	RE: Texas Comission supports prompt implementation of SPP

Jim

My feeling is that FERC is not going to change its RTO plans because of this possible interference from the Texas PUC

A possible scenario is SPP to ask permission to continue the implemantation of a new settlement and congestion management system. A good point for internal discussion is: To what extent  we want to oppose to those changes ? (which seem to be aligned to our recommendations, but those may imply additional SPP resources)

Christi - What do you think?

 -----Original Message-----
From: 	Steffes, James D.
Sent:	Wednesday, October 24, 2001 4:04 PM
To:	Maurer, Luiz; Nicolay, Christi L.; Ryall, Jean
Subject:	RE: Texas Comission supports prompt implementation of SPP

Luiz -

I would like to schedule a phone call with Nick and the PUCT staff to understand the implication of this...  Maybe he isn't asking for too much, but let's get some clarity before we say anything at FERC.

Can you please set something up with you, Christi, Jean and me for Friday pm and then we'll go outside next week??

Jim

 -----Original Message-----
From: 	Maurer, Luiz
Sent:	Wednesday, October 24, 2001 2:00 PM
To:	Steffes, James D.
Subject:	Texas Comission supports prompt implementation of SPP

Jim

You were right. SPP is going to use this episode as a lever to be "promoted" to an RTO.

Texas is recommending three steps to introduce competition at Texas-SPP. One is described as follows:

*	Support the SPP's efforts to begin wholesale market operations: Mr. Brown, Vice President of SPP, testified that SPP can begin wholesale market operations and complete systems testing by April 1, 2002. He has requested that the SPP Board approve his recommendation to start to wholesale market operations. This Commission should support that process by:

-	Requesting in writing that the SPP Board begin wholesale operations as soon as possible with a target date of completing systems testing by April 1, 2002.
-	Advising FERC of the need to support SPP wholesale market operations. While Mr. Brown testified that the recent July and September Federal Energy Regulatory Commission (FERC) orders regarding SPP's start up expenditures will not impede SPP from implementing wholesale market operations, this Commission should advise FERC that the findings from our hearing show the need for FERC to fully support SPP wholesale operations startup.


Hi all,
I have made modifications on the model as requested.  It now handles different
volatility curves as well as 4 different hour blocks.

Alex


Please see attached Microsoft Word file for  Kudlow's latest commentary.

 - kudlow 091701.doc


The agenda for the meetings is to discuss ways to address the four highest priority items raised in the offsite.  Jeff, as you recall, has asked us for our proposed solutions at the staff meeting in two weeks.

As a reminder, here are the four:

1) Management skills
2) Metality/Dedication of employees
3) Manual processes
4) Development of analytical skills

Let me know if you have questions.
Greg

 -----Original Message-----
From: 	Hogan, Irena D.
Sent:	Monday, July  16, 2001 2:20 PM
To:	McLaughlin Jr., Errol; Keiser, Kam; Love, Phillip M.; Bike, Anne; Valdes, John; Severson, Russ; Winfree, O'Neal D.; Baumbach, David; Couch, Greg; Gillis, Brian
Cc:	Soto, Elizabeth
Subject:	Follow Up Meetings from Off-site

I have scheduled  two lunch meetings, per Greg Couch, to serve as  follow up meetings from this weekend's off-site.  These meetings will take place this Wednesday and next Wednesday, July 18 and 25, both in EB 3270 from 11:30 AM - 1:00 PM (Houston time).

Brian, please reply to me with a number for us to reach you, via telephone conference for these meetings.

Thank you,

Irena


---------------------- Forwarded by Rosalee Fleming/Corp/Enron on 12/13/2000
05:59 PM ---------------------------

Kathy Mayfield
12/13/2000 05:02 PM

To: Rosalee Fleming/Corp/Enron@ENRON
cc:
Subject: Thank you for the Charitygift

---------------------- Forwarded by Kathy Mayfield/Corp/Enron on 12/13/2000
04:38 PM ---------------------------

bill_morgan@kindermorgan.com on 12/13/2000 04:34:58 PM
To: kathy.mayfield@enron.com
cc:

Subject: Thank you for the Charitygift

Thank you for the Charity Gift Card.  I decided to donate the gift to the
Depelchin Children's Center.


Federal grand jury indicts accounting firm Arthur Andersen.
http://www.abcnews.go.com

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This morning, we announced an offer to acquire London-based MG plc, one of
the world,s leading metals marketers, for $446 million.  We have been
monitoring the global metals market for several years, and we believe that
now is the right time to enter this $120 billion market.  We are confident
that our successful business model, which we have proven in the natural gas
and electricity markets, gives us a tremendous advantage in a market that is
undergoing fundamental change.

Our offer to acquire MG plc has been unanimously recommended by MG plc,s
board of directors, and we expect to close the transaction by early third
quarter of this year, following shareholder and customary regulatory
approvals.

MG plc is a leading independent company in global non-ferrous metals trading
and marketing and the only such company that is publicly traded.
Headquartered in London with major offices in New York and Frankfurt, MG plc
has 330 employees in 14 countries.  It is the world,s leading copper
merchant, one of the top three merchants of copper concentrates and nickel,
and a leading European merchant of recycled metal.  Other products that MG
plc markets include aluminum, lead, tin, zinc, brass and stainless steel.

This transaction provides Enron with access to new customers and enables
cross-marketing opportunities.  We plan to sell Enron energy products to MG
plc customers and offer bundled products combining metals and power
outsourcing.  Enron will help producers and consumers manage the risks
inherent in volatile raw materials and energy markets, and we will improve
commodity prices for both buyers and sellers.

MG plc,s existing market-making capabilities and market knowledge provide an
immediate platform upon which to overlay Enron,s proven ability to offer
innovative e-commerce-enabled services to commodity-based industries.  Our
new metals business will be integrated into our wholesale business by Enron
Europe CEO John Sherriff, who will work closely with Enron Net Works CEO Greg
Whalley.


As mentioned in my other email...

---------------------- Forwarded by Kay Mann/Corp/Enron on 03/16/2001 05:11
PM ---------------------------

Stephen Thome@ECT
03/13/2001 09:46 AM
To: rvicens@deltapower.com, aharrington@deltapower.com
cc: Jake Thomas/HOU/ECT@ECT, Carlos Sole/NA/Enron@Enron, Kay
Mann/Corp/Enron@Enron

Subject: Turbine Contract Revisions

Tony, Rick,

Here is a redline of the original turbine contract that I sent out.  The
numbering has been corrected and some changes made to section 10.7.

Let me know how your review is proceeding.  Our counsel has suggested that
you may want to make a trip to Houston to go over the contracts if you have
substantive comments.  We would like to have executable versions by close of
business Friday.

Steve


------- Failure Reasons  --------

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Let me know if you have any questions.

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713-853-9636
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------_=_NextPart_001_01C1C92C.1530423C--


I still think an additional organizational announcement is necessary- I can
explain further when you so desire. Thanks.
---------------------- Forwarded by Richard Shapiro/NA/Enron on 04/11/2001
04:20 PM ---------------------------

Richard Shapiro
04/11/2001 04:15 PM
To: Richard Shapiro/NA/Enron@Enron
cc:

Subject: Enron Europe Regulatory Affairs Announcement

From: Enron Europe Office of the Chairman@ECT on 04/11/2001 05:37 AM
Please respond to Enron Europe Office of the Chairman
Sent by: Enron Europe General Announcement@ECT
To: ECT Asia Pacific, ECT Dubai, ECT Europe, Enron VPs and MDs 1, Enron VPs
and MDs 2, Enron Executive Committee
cc:

Subject: Enron Europe Regulatory Affairs Announcement

After nearly five years in London, Mark Schroeder will be returning to the US
on April 11th to join the North American Coal Business with responsibility
for origination in the utility sector.  Under Mark,s leadership, his team has
made significant contributions towards Enron Europe,s &first mover8 advantage
and its status as the leading new entrant in the liberalizing pan-European
energy markets.  We wish him well in his new commercial role.

With Mark,s departure, the day-to-day management of the Government &
Regulatory Affairs Department in Europe will rest with Peter Styles, Paul
Dawson, Paul Hennemeyer, and Doug Wood. Nick O,Day will continue in his
current leadership capacity in Japan.  Each of these five individuals and
their groups will now jointly report to the business heads and to Rick
Shapiro, in the Government & Regulatory Affairs team in Houston. Rick Shapiro
will continue to manage Government Affairs for the Americas.  While the team
members responsibilities will vary from time-to-time in response to shifting
commercial priorities, as well as the need to support other Enron Wholesale
Services' business units from time-to-time, the general areas of
responsibility will be as follows:

Peter Styles, based in Brussels, will continue to have responsibility for our
EU and Netherlands advocacy.  Paul Hennemeyer will lead efforts in the German
speaking countries (Germany, Austria, Switzerland) as well as France and
Belgium. Peter and Paul will report to Eric Shaw.  While seconded to the
commercial team in France, Philip Davies will address Nordic market issues on
an ad hoc basis and also report to Paul on these issues.

Paul Dawson will lead our UK, Spain and Italian power regulatory efforts as
well as the gas regulatory work in the UK.  Doug Wood will support the
Continental Gas team and the Central and Southeastern Europe Origination
efforts, while also addressing the UK Climate Change Levy.  Doug's role in
gas will continue to be supplement, and not to supplant, the efforts of each
of the team members' geographic responsibilities noted on the organisation
chart. Paul and Doug will report to Richard Lewis locally.

Nick O,Day will also continue to report to Joe Hirl in Japan.

Other regulatory support provided by Mark Schroeder will be addressed in
another organizational announcement that will be sent
out from Government & Regulatory Affairs in Houston.  Attached is the revised
organization chart that now reflects the Government & Regulatory Affairs
organization in Enron Europe.

John Sherriff & Michael Brown

Please click on the link below to view the Regulatory Affairs organisational
charts for Europe and Japan.

Link to organisational charts


Chris

Was Ontario Power Generation the Canadian company you mentioned this morning
that has alot of generation in Ontario and would likely be a major factor in
determining the contract to be utilized in Canada?  Shari has had numerous
conversations with a Greg Malcolm there and he has said that they are very
interested in contracting with EPMI using EEI.  He and Shari have a call
scheduled for Nov 20th.

Just curious.


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PLEASE SEE ATTACHED MEMO FROM CINDY OLSON REGARDING MID YEAR PRC DATES, AND
THE MD PRC COMMITTEE LIST.  IF YOU HAVE ANY QUESTIONS, PLEASE GIVE CINDY A
CALL.

THANK YOU

BOBBIE


Do you know if all of our books are set up and ready to go in risktrac, ready to report VaR?

KK


Frank -

Attached you will find copies of the ETA, Privacy Policy and Terms of Use for
Clickpaper.  I have attached a revised version and clean version. Overall, my
comments were extremely limited as these documents are in good shape.

Please let me know if you should need anything further.

Please note that I have placed a 5/01 notation in the footer of both the
privacy policy and the ETA so that we can track the version, since there was
no indication of how else to track them.  If you need to change this, please
remember to delete this reference.

Mark
Senior Counsel, EWS
Phone:     713-345-8897
Facsimile: 713-646-3490
E-Mail:      Mark.Greenberg@enron.com

	Frank L Davis/ENRON@enronXgate
	05/15/2001 02:41 PM

		 To: Mark Greenberg/NA/Enron@ENRON
		 cc:
		 Subject: FW: EOL & Clickpaper Legal Docs

 -----Original Message-----
From:  Davis, Frank L.
Sent: Thursday, May 10, 2001 10:00 AM
To: Taylor, Mark
Subject: EOL & Clickpaper Legal Docs

Mark,

Attached below are the legal documents for EOL and Clickpaper.  I'll come to
your office to discuss possible issues.

Thanks!

Frank
x37235


Two things,
1.  Here is Jeff Porter's response.
2.  Joan, change your email to Joni.
---------------------- Forwarded by Scott Goodell/Corp/Enron on 03/14/2000
03:40 PM ---------------------------

jporte1@columbiaenergygroup.com on 03/14/2000 03:32:01 PM
To: " - *Scott.Goodell@enron.com" <Scott.Goodell@enron.com>
cc: " - *Kinney, Doug" <BLOCK@columbiaenergygroup.com>

Subject: Re: SST Storage Injection Contract for Choice

We will notify COH tomorrow.


Start Date: 12/21/01; HourAhead hour: 24;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2001122124.txt


Janet:
Enclosed is some sample surety bond language that we have used along with a
surety bond form.  I have reviewed your form and think that we can use it
with some minor modifications. The enclosed provisions will need to be
modified to fit our situation and taht is part of what I want to discuss at
our meeting next week so we can all understand how the bond gets issued, what
it covers and how it gets triggered.   I look forward to seeing you next
Thursday.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


Hello, I noticed you carried several of the 98 Zoom Zins.  Any chance you
have the 33 year old vines version?  Please advise,
John


G,

How was the trip to Longhorn Country?  Hawks won big.  We might have a
decent team this year.

Do I have any mail over at your place?  I was expecting something from W.
last week.

R

Ryan F. Ruppert
Geologist
Saudi Arabia Gas Resources
ExxonMobil Development Co.
GPP3-389
P.O. Box 4778
Houston, Texas 77210
281.654.5360 Telephone
281.654.1584 Facsimile
ryan.ruppert@exxonmobil.com


thanks gal  sp

   Kate Symes                01/11/2001 01:06 PM

To: Stephanie Piwetz/HOU/ECT@ECT
cc:
Subject: Re: Powerez Deal from 1/8/01

Matt doesn't have any trade like this for 1/8. I spoke with Judy at EES, and
she's going to have Jubran call Matt to duke it out over whether or not this
is a good trade. I'll let you know what those guys decide.

Thanks,
Kate

Stephanie Piwetz   01/11/2001 11:07 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Powerez Deal from 1/8/01

Mid Columbia.

   Kate Symes                01/11/2001 12:47 PM

To: Stephanie Piwetz/HOU/ECT@ECT
cc:
Subject: Re: Powerez Deal from 1/8/01

What's the delivery point on those deals?

Stephanie Piwetz   01/11/2001 10:48 AM

To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Powerez Deal from 1/8/01

Kate,
Pwx called this mroning to verbal a deal that  was sleeved with EES.  I do
not see it in system, although I see the deal on EES spreadsheet that I
receive daily.
the deal is Enron Buys Pwx   Q4 2001 25mws   255.00  done direct  trade date
1/8/01  Matt Motley trader
then Enron Sell EES  Q4 2001  25mws   $255.05

Should this be in the system and if so do you have deal numbers on the
above.  I believe we sleeved the deal for EES and Pwx.
Contact at EES, Judy (backoffice 7138535490)  Jubran Whalen is EES trader.

Thanks


FYI
----- Forwarded by Sara Shackleton/HOU/ECT on 06/01/2000 09:11 AM -----

	Sara Shackleton
	05/31/2000 12:41 PM

		 To: Susan Musch/ENRON_DEVELOPMENT
		 cc: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
		 Subject: Enron Australia agency agreement

Hi, Susan.  Just to let you know that I will have the agreements executed by
ENA once you have initialled and returned them to me.  Thanks.  Sara


Hi Kate,

Can you please print the attached cover letter (for overnight shipment to Bob
Booth) on ENA letterhead?

Also, please give copies of the signed letter to Ed Clark, Bill Williams (the
Dad), Don Hammond and Jody Blackburn.

Thanks!!
Laura


John:

Jim Fallon's office called me today requesting the updated Residual Book Analysis and Sensitivity  - Gas Power.  I've been told you are the person to contact in order to get this.  Please have a copy of this to me by noon on Monday.

Thank you!!

Megan Scott
Ext. 6908


I'm just now printing it out (takes about 15 minutes), but I'm fine with
sending out the redline.

Kay

	From:  Scott Healy @ ECT                           10/27/2000 03:10 PM

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

Subject:

Can I send the last version of the red-lined P.O. to FCE?


Dear Colleagues,

We know you have many questions about your new benefits plan, payroll issues and other changes that will occur over the next few weeks. Human Resources and Communications are preparing a thorough Q&A, which we will send to you tomorrow and will regularly update as more information is available.

Meanwhile, please read the announcement below from Security about how you can obtain a new UBS Warburg access card that will allow you to enter our new office space after Friday.

I am confident that you share my enthusiasm about our new opportunity.  We look forward to working along side each of you in the coming days.

David Oxley
Head, Human Resources
____________________________________________________________________

Access Cards

There will be a two-day transition for the new UBS Warburg access cards. Beginning Monday, February 11, access to the 5th and 6th floors of Enron Center South will require these new cards. UBS Warburg access cards can be picked up from 7 a.m. to 7 p.m. at the reception area on the 5th floor of Enron Center South on Thursday, February 7th ; Friday, February 8th ; and Monday, February 11. Enron Security will produce new access cards with existing photographs, then simultaneously issue the new and collect the old cards. Employees without UBS Warburg cards will be allowed into the Enron Center South building on Monday but will have to collect their new cards as soon as possible to gain access to the 5th and 6th floors.

Employees who fail to collect their new cards by 7 p.m. Monday will be required to contact Enron Security's general information number at 713-853-5360 to arrange to pick them up.

There will be security staff available at the pick up point on ECS 5 to help with any problems you might have.

It is suggested employees wear their access cards at all times while on the premise.

Accessible Areas - The new cards will allow UBS-W employees to enter:
5th & 6th floors and Plaza area of Enron Center South ,
The Sky Ring
Body Shop, Enron Center North Plaza and therefore access the Credit Union and Cafeteria from either building.

Restricted Areas - Employees must submit to Enron Security a Restricted Access Request form (available by calling 713 8535360 ) and signed by Bob McAuliffe (713-853-7468) to enter:
Enron Center South, 8th and 9th floors
Enron Center North, 22nd and 34th floor
Ardmore Data Center.

Employees staying with the Enron estate while visa and other issues are completed - Employees in this group who are on assignment arrangements to UBS-W will be issued a regular access card - available in the same way as other new UBS-W employees.

Estate employees who are working with UBS-W on transition issues  - If they will be based in UBS-W office space they should talk to their UBS-W counterpart for approval and then UBSW HR for the issue of a UBS-W contractor card (in addition to their regular Enron badge).


I think asking David the question is a good idea.

Kay

"Wilson Montjoy" <wmontjoy@brunini.com> on 06/06/2001 04:01:39 PM
To: <Kay.Mann@enron.com>
cc:

Subject: Re: Joint agency as reseller of power

the first part of Sec.77-5-725(u) supports your statement ("to purchase...on
behalf of its members"). To me, that might support buying as agent in a way
that the action of MDEA would be a binding commitment of CPU. However,  the
second clause ("and to sell the same to its members") would seem to go the
other way.

Also note subsections o, p and q.

Under municipal law in Miss. there is the concept that a public body may not
"delegate" its statutory functions to others. I know you can't do it when
it's a discretionary public function being delegated to a non-public entity.
I'm not so sure about one public body delegating to another. I'd like to hear
from David Hunt on this.

>>> <Kay.Mann@enron.com> 06/06/01 03:42PM >>>

Would you read that to mean the authority to buy power "as agent for" the
Cities?  Seems not entirely clear but not entirely out of the question.

Kay


are you getting a used car or a new car?  maximas are good.  i like the older
models though.


Start Date: 1/5/02; HourAhead hour: 13;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002010513.txt


---------------------- Forwarded by Steven J Kean/HOU/EES on 09/06/99 02:06
PM ---------------------------

EIS Billing@ENRON
09/03/99 02:43 PM

To:	Steven J Kean/HOU/EES@EES
cc:

Subject:	Monthly Billing - Detail Class 845 / s100061.xls

SAP Impact:
File names have changed from "b" + company + rc for MSA booking to "s" + cost
center for SAP.  Other changes have also been implemented.  Please send a
Notes mail to "Bill Myers" if you notice any problems, particularly if you
think that they might be conversion or program related.  (I already know
about the company description for the MSA spreadsheets where companies are
rebooked to themselves).

Attached  are spreadsheets with the detail supporting the expenses for
telephones, data ports, EDI, Enterprise LAN, Enterprise Help Desk, video
conferencing, Internet access, email, and other services provided to Enron
business units by Enron Information Services.  These expenses are posted in
MSA Detail Class 845.

EIS billings for items attached to the room, such as phones and data ports,
and people specific services for contractors, such as LAN ID's and AT&T
calling cards, are billed to the same company and cost center as room rent in
EB or 3AC.  For Omaha, EIS uses a phone database maintained by Tammy Anderson
for this purpose.

People specific services for employees are billed to the company and cost
center corresponding to the employee's HR company and department. Video
conference usage, data circuits, Ardmore usage, EDI, and web site billings
are based on a company and cost center furnished by the person requesting the
service.

EIS bills services on a one month lag.  We take a snapshot of the Corporate
Administrative Services rent file for each room in EB and 3AC, of the Omaha
phone database for each room in Omaha, and of the HR company and department
for each employee.  This snapshot is taken at the end of each month for use
as a source for billing information.

Please examine these billings for accuracy.  If our billings are incorrect,
generally speaking either the rent should be corrected by contacting
Corporate Administrative Services or the person should be moved to the
correct HR department by contacting your HR representative.  If the room
number is incorrect on the phone or long distance billings, this may be
corrected by sending the room number along with the telephone number to Notes
Mail ID "Move-Team".

If you wish to move EIS charges after to a different company and/or
department after billings have been processed or if you wish to discuss an
alternative to using your HR department for people specific billings, please
send a message to Notes Mail ID "EIS Billing".


log sheet and written verification letter to come later - give copy of script
to Mike or whoever else will be securing quotes
----- Forwarded by Elizabeth Sager/HOU/ECT on 04/09/2001 10:51 AM -----

	Brenda Whitehead
	04/09/2001 10:33 AM

		 To: Peter Keohane/CAL/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Jeffrey T
Hodge/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT
		 cc: Elizabeth Sager/HOU/ECT@ECT
		 Subject: PG&E Memo

Per the request of Elizabeth Sager, please see this attachment:


Just in case worse comes to worse.

---------------------- Forwarded by Mary Poorman/NA/Enron on 03/21/2001 11:29 AM ---------------------------
From:	Juliann Kemp/ENRON@enronXgate on 03/21/2001 10:39 AM
To:	Mary Poorman/NA/Enron@Enron
cc:

Subject:	Imbalance gas

Mary we just have two.  Thanks - Julie

contract 012-87794-02-001 (delivery)
meter 981506
we owe them 21,771

981244 (delivery) Koch Refinery
we owe them 16,810


You have received this email because the requester specified you as their VP. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000076650&Page=Approval to review and act upon this request.

Request ID          : 000000000076650
Request Create Date : 11/19/01 2:40:19 PM
Requested For       : punit.rawal@enron.com
Resource Name       : Market Data Kobra Crude
Resource Type       : Applications


The attachment summarizes all of the comments filed by other parties in this proceeding.  They're now in alphabetical order by the party filing, and the ones that I added since last night are highlighted.  Let me know if you'd like a copy of any of them.


Hey Gerald,

Please prepare an amendment to increase the existing $15MM guaranty provided
by Bridgeline Holdings to $25MM.  Enron and Texaco board members will have to
sign the amendment.  Please prepare it and forward for the appropriate Enron
signatures and then have it forwarded it to me, so that I might forward it
along to Trevor Mihalik who can in turn forward it along to Texaco for final
signature.

thanks
brant


Enron Corp. has authorized the Unit to file suit immediately against Event
Resources Incorporated (&ERI8) and Diane Nielson (the president and one of
the owners of ERI) for breach of contract and conversion of a deposit of
approximately $248,000.00 relating to the Enron 2000 Holiday Party.

Additionally, Enron will be making a demand for defense and indemnity on ERI
pursuant to an arbitration filed by Hilton Hotels Corporation, as managing
agent for Palacio Del Rio, Ltd. against ERI and Enron Corp.  Hilton alleges
that ERI owes Hilton approximatley $135,000.00 in penalties for breach of a
reservation agreement and that ERI was acting as Enron Corp.'s agent at the
time.  If ERI does not assume its defense and indemnity obligations, Enron
Corp. will sue ERI for that as well.

If you know of any reason that Enron Corp. should not pursue these suits,
please contact me by e-mail at bdavis@enron.com by Thursday, December 14,
2000 at 5:00 p.m.  If I do not hear from you by then, I will assume that you
have no objection to Enron Corp. pursuing these suits.


Sara--

I just left you a voice mail about the European GTCs as compared to the North
American documents. Attached please find both versions of the documents
(European documents are below attached e-mail) for collateral and
non-collateral situations. If you could please take a look at the documents
and determine whether changes need to be made or we can proceed with posting
these documents for European trading in pulp and paper products, we would
appreciate it. If you would prefer, I have a set of documents I've marked up
for differences, if that would ease your task. Please call if you have any
further questions. Thanks.

Stephanie Segura
x37430

---------------------- Forwarded by Stephanie Segura/HOU/ECT on 09/14/2000
08:33 AM ---------------------------

	Enron North America Corp.

	From:  Jeff Harbert                           09/13/2000 11:34 AM

To: Stephanie Segura/HOU/ECT@ECT
cc: Brandon Wax/HOU/ECT@ECT
Subject: London EOL Financial GTC's

Stephanie,
Below you will find some data and information about EOL London as well as the
GTC's used by them.  Please just look these over for me and note any
differences you might find beside the obvious Enron entity name difference.
I'll be working with Debbie Nichols and Amita Gosalia in London as we move
forward in getting products up on Clickpaper for our London traders.

Jeff.
---------------------- Forwarded by Jeff Harbert/HOU/ECT on 09/13/2000 11:31
AM ---------------------------

Robert B Cass
09/12/2000 01:36 PM
To: Jeff Harbert/HOU/ECT@ECT
cc: Dale Neuner/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT
Subject: London EOL Financial GTC's

Jeff -  Some of the info below may not necessarily be new, but .... it's free

I have contacted Debbie Nicholls (Documentation Manager in the London office)
to verify that the financial GTC's as attached below are the same GTC's that
would be used for EOL traded Paper/Lumber etc. products in the London
office.  Both of these attached GTC's are the same with the exception that
the file for "GTC2" includes collateral arrangements for customers with
credit issues.

Jeff, please note that these EOL GTC's are used for all of the London
financial products (including paper etc.) under the following Enron entity:
 Enron Capital & Trade Resources International Corp. ("Enron")
 acting by its agent Enron Europe Finance & Trading Limited

 (these GTC's are referred to as the "ECTRIC EEFT" GTC's).

Due to some recent reorganizational changes in the London office, there is
some "uncertainty" as to which group will manage the pulp/paper/lumber
products.  For now, the documentation activity for the financial
transactions does reside with Debbie.

The documentation for the "physical" paper/lumber transactions is not done in
London.  That documentation is done in the Houston office.

The attached GTC's are governed by English Law.  According to Debbie, they
cover all financial products.  However, I do know that the Legal Group
created GTC's for financial EOL products which referenced other countries for
"governing law" (e.g.:  I have one other GTC that reflects German Law).
Earlier this year a decision was made to use only the English Law GTC's, but
we may need to confirm that with Debbie and with the London Legal group
there.  That decision may need to be revisited.