PRIVILEGED AND CONFIDENTIAL

Vicki Sharp, John Klauberg and I had a short call on Sunday to discuss any
legal issues associated with the proposed accounting treatment of certain of
transactions between EPMI and EES.

1. EPMI has requested that the economics of the Assigned Transactions (the
PGET transactions assumed by EPMI and referred to in the December 28, 2000
letter between EPMI and EEMC) be held by EPMI, and not retained by EEMC as
provided by the letter agreement.

Wes, could you confirm that EPMI wishes to assume the economics of those
transactions effective 1/1/2001?  I have assumed that this is the case, and
have drafted an amendment to the December 28 letter accordingly (attached
below).  Please review and let me know if this is something we can work with
(note that the draft letter may need revisions based upon resolutions of
other issues raised in this e-mail).  We will also need to confirm that there
are no undesirable tax or bankruptcy implications to this approach.

One element of the assignment of the "Regulatory Receivable" and the
assignment to EPMI of the PGET trades that we have questions regarding is the
apparent lack of consideration flowing back to EEMC/EES as a result of these
transactions -- we will have transferred some fairly substantial assets from
EEMC/EES to EPMI, but have made no provision for those entities receiving
anything in exchange.  The December 28 letter did make reference to the
possibility of "back-to-back" transactions between EPMI and EEMC, which may
answer that questions with respect to the assignment of the PGET trades, but
if we are going to go that route, we would need to work out the terms of
those "back-to-back" transaction by which EPMI sells the power that it
purchases from PGET/Avista to EEMC to enable EEMC to fill its short position.
For instance, at what price would EPMI resell the PGET/Avista power to EEMC
so that EEMC can supply the requirements of its Direct Access Customers?  If
the transfer price is at market, EEMC will recognize a significant loss on
sales to its DACs.

2. On January 17, 2001, EES and EEMC assigned certain of their "Regulatory
Receivables" to EPMI.  The assignment was intended to be an absolute transfer
and true sale of EEMC/EES' rights in those receivables, but the Assignment
Agreement does not recite any consideration for that transfer.  Again, we
assume that the transfers of those receivables would leave a  "hole" in EES'
books that, in an arms-length transaction, would be filled by the
consideration that EES/EEMC received for the sale.  Has there been any
conversation about the benefits that may ultimately flow back to EES/EEMC in
consideration for their transfer of these receivables to EPMI?  While the
attached amendment is not intended to address the assignment of that
receivable, it may be beneficial to make reference to those benefits in this
amendment.

3. The January 17, 2001 assignment transferred that portion of the negative
CTC that had accrued to date, but we have not effected any transaction to
transfer the risk of the remaining marked position to EPMI.  There was some
discussion of an EES/EPMI "swap" that would transfer the risk in the
remaining position to EPMI.  Is that still being contemplated?

Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3817
Houston Texas 77002
Phone:  (713) 853-1575
Fax: (713) 646-3490


Hope no one takes this the wrong way...  Also, if you have not already visited, don't forget:
http://www.enronoffline.com/default1.asp?randomid=1437

Top 10 Reasons Why Enron is The World's Leading Company:

1.	It's earned its own ticker on CNBC
2.	Shareholder lawsuits have been filed against it in 150 different languages
3.	Top executives are given personal security escorts
4.	Owns the distinction of the following records:
-	Largest Potential Bankruptcy Filing
-	Largest Single-Day Trading Volume
-	Largest/Fastest Erosion of Shareholder Value ($80bn in 12 months; $30bn in 1 month)
-	Largest Fleet of $100K+ automobiles
5.	Innovative accounting rules will be a proxy (what not to do) for years to come
6.	When Enron goes down, everyone goes down in its wake
7.	Movie/Publishing rights have already been assigned
8.	"Battle of the Billion-Dollar Has-Beens" (Enron vs. The Taliban) at the forefront of all world news
9.	The only place where getting "lay-ed" and getting lucky are mutually exclusive
10.	Even the President of the United States is powerless to save us


fine

From: Sarah Wesner/ENRON@enronXgate on 01/22/2001 03:17 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Fimat

John - do you mind sharing your Fimat line with the crude traders?  Current
usage is about $6 million.  Also Warren thought that he might be able to
change the variation limit from about $10 million to $6 million.  This change
would allow us to use the line for $14 million for original margin (they have
a good rate.)  Warren is going to call you about it.  Sarah


pls check for me .  thanks. df

Susan Scott
01/19/2001 12:56 PM
To: Drew Fossum/ET&S/Enron@ENRON
cc: Rod Hayslett/FGT/Enron@ENRON, Paul Cherry/GPGFIN/Enron@ENRON, Shelley
Corman/ET&S/Enron@ENRON, Michael Moran/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@ENRON, Maria Pavlou/Enron@EnronXGate, Lee
Huber/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON

Subject: Re: PG&E

Has anyone checked on whether there are any IT contracts and if so what the
contract # is?
If not, I will...just let me know.

Drew Fossum
01/19/2001 11:46 AM
To: Rod Hayslett/FGT/Enron@ENRON, Paul Cherry/GPGFIN/Enron@ENRON, Shelley
Corman/ET&S/Enron@ENRON, Michael Moran/ET&S/Enron@ENRON, Steven
Harris/ET&S/Enron@ENRON
cc: Maria Pavlou/Enron@EnronXGate, Susan Scott/ET&S/Enron@ENRON, Lee
Huber/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON

Subject: PG&E

Attached is a draft letter requesting that PG&E provide Transwestern with
assurance of creditworthiness under Section 13 of TW's tariff.  Shelley and
Mike have reviewed this already and wanted to get input from the rest of you
as soon as possible.  Note that there are a couple of questions for us to
answer before we send it out.  I would like to  have this ready for Shelley
and Rod to run by Rick Buy, Steve Kean, and others as necessary by COB.
Thanks.  DF


I spoke with Gavin Gaul just now about the GA drawings for the 99 peakers.
He said that he would have to do some poking around, because those drawings
would have been archived a year ago.  But he thought he could get me the
as-built site layout drawings for the plants.  The version of the Brownsville
layout from the CD-ROM is not as-built, so maybe we should hold off on the
layouts until we get the as-builts from Gavin.  I'll let you know as soon as
I hear back from him.


Dear Stacey, Casey,

	It seems that nobody even knows what those applications are, and so they will not be migrated to NetCo.

	Please let us know if someone shows up at the last minute.

	Thank you very much for your help,

Norman.

 -----Original Message-----
From: 	White, Stacey W.
Sent:	Wednesday, January 16, 2002 4:43 PM
To:	Lee, Norman
Subject:	FW: Business Applications\Power Curves

 -----Original Message-----
From: 	Imai, Rika
Sent:	Wednesday, January 16, 2002 12:42 PM
To:	White, Stacey W.
Subject:	RE: Business Applications\Power Curves

At this time it does not appear that we use the power curves listed below.

Rika

 -----Original Message-----
From: 	Grace, Rebecca M.
Sent:	Wednesday, January 16, 2002 10:58 AM
To:	White, Stacey W.; Imai, Rika; Will, Lloyd; Baughman Jr., Don; Bentley, Corry; Reeves, Leslie; Theriot, Kim S.
Cc:	Lee, Norman; Allen, Thresa A.
Subject:	RE: Business Applications\Power Curves

To my knowledge, East Volume Management does not use any of these applications.

Rebecca

 -----Original Message-----
From: 	White, Stacey W.
Sent:	Wednesday, January 16, 2002 10:53 AM
To:	Imai, Rika; Will, Lloyd; Baughman Jr., Don; Bentley, Corry; Grace, Rebecca M.; Reeves, Leslie; Theriot, Kim S.
Cc:	Lee, Norman
Subject:	FW: Business Applications\Power Curves

Can you all verify that you do or do not use the applications listed below as soon as possible.  We are in the process of moving or discarding applications to move to the NETCO environment and are unaware of who uses the following applications.

Thanks,
Stacey

 -----Original Message-----
From: 	Lee, Norman
Sent:	Wednesday, January 16, 2002 10:47 AM
To:	White, Stacey W.; Evans, Casey; Vinson, Donald Wayne
Subject:	FW: Business Applications\Power Curves

Dear All,

	Do you know any of the following applications? What they are used for and who uses them?

	Thanks,

Norman.

 -----Original Message-----
From: 	Nommensen, Dave
Sent:	Monday, January  14, 2002 10:31 AM
To:	Larkin, Brian
Cc:	Lee, Norman; Balasundaram, Arun
Subject:	Business Applications\Power Curves

Brian,

Could you provide me the userids that have access to these apps.  We do not recognize them and need to find out if anybody is still running them.

Thanks, d.n.

Start\Programs\Business Applications\Power Curves
Curve Comparison
Curve Scalar
Power-Curve East
Power-Curve PJM
Power-Curve West


----- Forwarded by Jeff Dasovich/NA/Enron on 05/01/2001 12:30 PM -----

	Michael Tribolet/ENRON@enronXgate
	05/01/2001 11:49 AM

		 To: Kortney Brown/ENRON@enronXgate, Jeff Dasovich/NA/Enron@Enron, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jennifer Thome/NA/Enron@Enron
		 cc: Jeffrey A Soo/ENRON@enronXgate
		 Subject: RE: MOU with SCE and DWR

More tabs in attached

 -----Original Message-----
From:  Brown, Kortney
Sent: Monday, April 30, 2001 7:23 PM
To: Dasovich, Jeff; Neustaedter, Robert; Thome, Jennifer
Cc: Tribolet, Michael; Soo, Jeffrey A.
Subject: MOU with SCE and DWR

A draft copy of the presentation discussed, as well as the updated Pricing
Summary (with the most recent curves available).  Thanks.

Kortney

 << File: SCE_Presentation3.ppt >>  << File: ENE Power Costs for Treasury
Summit4.xls >>


Pablo:
Thanks.  We really need to finalize everything by mid-week as the online
folks are planning their roll-out at the end of this week.  Please do
whatever you can to have something final for us in the nexy day or two as I
cannot hold them off any lomger.  In the amentime, I will take a look at
this.

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

	"Pablo Perezalonso" <pperezalonso@rhm.com.mx>
	07/07/2000 08:52 PM

		 To: carol.St.Clair@enron.com
		 cc:
		 Subject: questionnaire on Internet trading on commodities.DOC

  Attached please find an initial draft of the questionaire. We are still
working on it and we will send a revised draft next week.

Regards

Pablo Perezalonso Egu?a
Ritch, Heather y Mueller, S.C.
pperezalonso@rhm.com.mx
tel: (52) 5-2076533

 - questionnaire on Internet trading on commodities.DOC


Thank you Kate.

Jubran

   Kate Symes @ ECT                04/04/2001 12:17 PM

To: Jubran Whalan/HOU/EES@EES, Daniel Kang/HOU/EES@EES, Neil
Bresnan/HOU/EES@EES, Judy Dyer/HOU/EES@EES, Michael Spruiell/HOU/EES@EES,
Mark Confer/HOU/ECT@ECT, Chris H Foster/HOU/ECT@ECT, Bill Williams
III/PDX/ECT@ECT, EES Power Settlements/HOU/EES@EES
cc:
Subject: Revised EES Position 4/4


SoCal Ed Exec Sees Bankruptcy If Lawmakers Reject Deal

	Updated: Friday, April 20, 2001 02:54 PM?ET

	?
	?

	LOS ANGELES (Dow Jones)--Edison International (EIX, news, msgs) unit Southern
California Edison will go into bankruptcy if state legislators don't approve
a deal for the state to buy the company's transmission lines, an Edison
executive told reporters Friday.
	"It's the agreement or bankruptcy. Legislators need to understand the
consequences of having no agreement," said Bob Foster, SoCal Ed's senior vice
president of external affairs. "We've had almost a year of instability and
chaos, and having 2-3 more years of uncertainty isn't the way to handle
public policy."

	?In This Article

	?Symbol
	Last
	Change

	?EIX
	10.32
	-0.66?

	?PCG
	8.90
	+0.17?

	?SRE
	24.45
	-0.65?

	?Index

	?Dow Jones
	10579.85
	-113.86?

	?NASDAQ
	2163.29
	-18.85?

	?

	?

	It wasn't immediately clear if Foster meant SoCal Ed would declare
bankruptcy, or if he thought the utility would be forced into bankruptcy by
creditors if legislative approval of the deal falls through.
	Gov. Gray Davis is having a tough time convincing legislators to accept the
deal, which must have legislative backing in order to be implemented.
	As previously reported, several key lawmakers have said the deal would need
to be heavily amended before it could pass.

	The terms of the deal, signed last week by Davis and Edison International
Chief Executive John Bryson, call for the state to buy SoCal Ed's 12,000
miles of transmission lines for $2.76 billion and to allow the utility to
issue bonds backed by ratepayers so that it can recoup $5.5 billion in
unrecovered power costs.
	Davis told Senate Democrats Wednesday he would consider amending the
agreement based on their input, and asked the lawmakers to appoint a special
committee to work with his administration on possible revisions.
	Foster said that while small changes may be acceptable, the meat of the
agreement must not change.
	"I'd be foolish to say you can't change a word, but the fact is that the
essence of the agreement must stay the same. It's an integrated, balanced
agreement and it must stay that way. If you pull something out, you need to
add something in," Foster said.
	The deal's "essence" ensures the utility will eventually become creditworthy
again, Foster said.
	As reported, some lawmakers have said ratepayers and taxpayers may be better
off if SoCal Ed declares bankruptcy, especially now that PG&E Corp. (PCG,
news, msgs) unit Pacific Gas & Electric Co. has sought bankruptcy-law
protection and is no longer negotiating with the state.
	"I still don't see how ratepayers could be any worse off with (SoCal Ed) in
bankruptcy than they would with the governor's plan," State Sen. Debra Bowen,
D-Redondo Beach, said Thursday. Bowen is chairwoman of the senate energy
committee.
	Bankruptcy would be worse than any perceived shortcomings in the SoCal Ed
agreement, Foster said, and the utility will spend the next week trying to
educate lawmakers on why that is so. One reason is that the state may need to
purchase more "net-short" power to keep the lights on if the utility's
contracts with small generators, or qualifying facilities, are rejected by a
bankruptcy judge
	"Twenty-seven percent of our customer demand is met by qualifying facility
contracts. If those get rejected, the state's net-short expands from its
current 32%...Also, our distribution systems are old and require a
substantial amount of investment (to keep running). If we go into bankruptcy,
there'll be no investment," Foster said.

	Foster said he thought legislators' skepticism about the deal was partly due
to lack of knowledge about its intricacies.
	"I believe when members fully understand what this agreement is, they will
understand it's decent and preferable to bankruptcy. The agreement is 38
pages but it's packed and requires explanation...there are real benefits here
for the state," Foster said.
	Foster also said it wasn't yet clear whether the deal would require another
rate hike on top of the 3-cent-kilowatt-hour increase passed by regulators
last month. That's partly because regulators haven't yet determined how
revenue from that rate hike will be divided between the utility and the
state's Department of Water Resources for its power purchases.
	"We need to understand how the present rates will be allocated, and that
depends on what the DWR is going to need. Under some assumptions we will be
able to fit the deal under current rates. If we can get qualifying facility
costs to a manageable level and the DWR can clearly indicate what it needs in
revenue going forward, it's possible," Foster said.
	-By Jessica Berthold; Dow Jones Newswires; 323-658-3872;
jessica.berthold@dowjones.com


And you and your bride haven't set Dallas as a honeymoon destination????
Your excuse seems to be a good one.  We will miss your presence and
participation, however.  Enjoy the wedding!!--Sally

John Paskin
01/26/2001 01:55 AM
To: Marvia Jefferson/HOU/ECT@ECT
cc: Sally Beck/HOU/ECT@ECT, Mike Jordan/LON/ECT@ECT
Subject: ASE on February 12-13, 2001 in Dallas, TX

Marvia

Unfortunately I am unable to attend (I am getting married).

Apologies

John
---------------------- Forwarded by John Paskin/LON/ECT on 26/01/2001 07:56
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Sally Beck                           25/01/2001 23:31

To: Bob M Hall/NA/Enron@Enron, Brent A Price/HOU/ECT@ECT, Leslie
Reeves/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Beth Perlman/HOU/ECT, Peggy
Hedstrom/CAL/ECT@ECT, James Scribner/Corp/Enron@Enron, Sheri
Thomas/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Brenda F
Herod/HOU/ECT@ECT, D Todd Hall/HOU/ECT@ECT, Thresa A Allen/HOU/ECT@ECT, Scott
Earnest/HOU/ECT@ECT, Kevin Sweeney/HOU/ECT@ECT, Todd Busby/NA/Enron@Enron,
Shona Wilson/NA/Enron@Enron, Robert Superty/HOU/ECT@ECT, Michelle
Bruce/HOU/ECT@ECT, Vanessa Schulte/Corp/Enron@Enron, Jennifer deBoisblanc
Denny/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, Laura E
Scott/CAL/ECT@ECT, Beth Apollo/HOU/ECT@ECT, Mike Jordan/LON/ECT@ECT, Steve
Whitaker/LON/ECT@ECT, John Paskin/LON/ECT@ECT, Richard Sage/LON/ECT@ECT,
Andrew Cornfield/LON/ECT@ECT
cc: Heather Choate/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, Zionette
Vincent/NA/Enron@Enron, Marvia Jefferson/HOU/ECT@ECT, Cherylene
Westbrook/Enron@EnronXGate, Adrial Boals/Corp/Enron@Enron, Jennifer
Rosado/NA/Enron@ENRON, Yvette G Connevey/Corp/Enron@ENRON, Mercy
Gil/NA/Enron@Enron, Salisha Ramos/NA/Enron@Enron, Sue Foust/HOU/ECT@ECT,
Braedi Craig/NA/Enron@ENRON, Pamela Sonnier/HOU/ECT@ECT, Fiona
McNaught/LON/ECT@ECT

Subject: ASE on February 12-13, 2001 in Dallas, TX

On January 12, I hosted a brainstorming session at the Four Seasons hotel in
downtown Houston in which we assembled a number of ideas regarding mid and
back office services we could offer to the commodity industry.  To complete a
plan for launching this strategic commercial venture, we are hosting an
integrated design session facilitated by Cap Gemini Ernst & Young (CGEY) at
their Accelerated Solutions Environment in Dallas, Texas.

I am personally extending an invitation to you to participate in this design
session.  This is a critical two-day event to be held February 12th and 13th
in Dallas, Texas.   This work session is based on a unique approach called a
DesignShopv.  It is a very focused, activity-driven event that is composed of
various modules and exercises performed in small and large groups. If you
have not attended one of the DesignShops related to SAP, you will likely
regard this session as different from any working session you have previously
experienced. The prior DesignShops held in conjunction with SAP have proven
to be very successful.  Therefore, we have elected to utilize this same
methodology on this very critical and strategic venture.

A limited number of representatives from Enron will be attending.  You were
selected to be one of approximately 30 key individuals to participate in the
DesignShop. You are being asked to participate in the full two days with as
little distraction or interruption as possible.  The quality of our results
depends on each participant being fully engaged and participative for the
entire event.   Additionally, you will be relied on in the future to support
and communicate our commercial strategy as it is defined at this session.
This date was specifically selected to avoid critical operational periods so
that your participation can be maximized. Therefore, please make all
necessary arrangements at the office to minimize your distractions during
these two days.

Please review the attached information regarding hotel, flight information,
and transportation.  Preliminary information as to schedule and environment
has also been included.  You may direct any additional questions concerning
the event to Mary Solmonson at (713)-853-6079.

I hope that you will be able to participate.  Please confirm your attendance
for the two days with Marvia Jefferson at 713-853-9165 by January 29th 5:00
p.m.  If you are unable to attend, it may be appropriate to select someone
else to participate.  Please do not extend an invitation to anyone else to
take your place until you and I have discussed this.

I thank you in advance for your participation and look forward to seeing you
in Dallas!


---------------------- Forwarded by Ami Chokshi/Corp/Enron on 02/04/2000
11:23 AM ---------------------------

troy_a_benoit@reliantenergy.com on 02/04/2000 11:06:27 AM
To: Ami Chokshi/Corp/Enron@ENRON
cc:

Subject: 5TH CHANGES @ DUKE AND AIR LIQUIDE

(See attached file: egmnom-Feb.xls)

 - egmnom-Feb.xls


Would anyone be interested in joining me for one of the following wine
tastings at Christopher's Wine Warehouse in the Rice Village?

Tuesday, January 9
Cabernets & Merlots from around the world
6-8 p.m./5:30 champagne reception
$20/person

or

Thursday, January 11
World's Greatest Wine Values
6-8 p.m./5:30 champagne reception
$18/person

The price includes champagne reception, 8 wines and assorted cheeses and
breads. It sounds like fun and something different to do, so let me know if
you're interested. For more info go to www.christopherswine.com. (Laura,
pass this on to Ryan. I don't have his e-mail.)


-----Original Message-----
From: Robert Kean [SMTP:rkean@starband.net]
Sent: Saturday, July 07, 2001 10:13 AM
To: Alan Kean (E-mail); 'Doug & Karen Reiman (E-mail)'; Kathy Wedig
(E-mail); Melissa Kean (E-mail); Phil Kean (E-mail); 'Steve & Melissa Kean
(E-mail)'
Cc: Diane Kean (E-mail 2)
Subject: FW: Dadisms

 - ATT00002.txt


The "two sides of a cross-portfolio deal" language is a bit vague and
misleading. A cross-portfolio deal is kind of like a desk to desk deal.
Another Enron book has traded with one of ours.

Two important things need to happen with cross-portfolio deals.
 1. They need to only show on the forward obligation report when "Desk to
Desk" is selected.
 2. They are only financial in nature, no physical delivery is ever done
cross portfolio.

I don't think "both sides" is correct. We need to only see our buy or our
sale when we query for our point.  When the other portfolio queries their
stuff, they should see their side.

C

From: Kroum Kroumov/ENRON@enronXgate on 02/08/2001 11:36 AM CST
To: Cara Semperger/PDX/ECT@ECT
cc:
Subject: FW: FWDOBL

        Cara,

     This is all I have so far. I would appreciate your help to make it
clearer.

     If you find a deal No like that, I think it will make my job easier.

     Thanks,
     Kroum

 -----Original Message-----
From:  Project Manager<Unknown.Man@enron.com>@ENRON
[mailto:IMCEANOTES-Project+20Manager+3CUnknown+2EMan+40enron+2Ecom+3E+40ENRON@
ENRON.com]
Sent: Thursday, February 08, 2001 10:31 AM
To: Kroumov, Kroum
Subject: FWDOBL

Forward Obs should show two sides of a Cross-Portfolio deal.  Find out what
needs to be done.  Contact Monica
Lande or Kate Symes in Portland for more details


I think I wrote his PRC


713/646-3490

	Joan Quick
	07/27/2000 06:08 PM

		 To: Dan J Bump/DEN/ECT@Enron, Gerald Nemec/HOU/ECT@ECT
		 cc:
		 Subject: crescendo gas contract

i just received this contract - have not looked it over yet.  let me know
what your fax # is and i will fax it to you.

joan


Please follow up if appropriate.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 07/24/2000
07:26 PM ---------------------------

Eric Gadd
07/21/2000 04:32 PM
To: David W Delainey/HOU/ECT@ECT
cc: TJ.pimpinelli@mglondon.com
Subject: Metals - Energy Prospect

Dave- please see TJ's attached note and advise who he should contact inside
Enron for assistance on the energy and asset development side.
---------------------- Forwarded by Eric Gadd/LON/ECT on 21/07/2000 22:30
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  TJ.Pimpinelli@mglondon.com                           21/07/2000 19:48

To: egadd@enron.com, Tom_McKeever@mgusa.com, Michael_J_Hutchinson@mgusa.com,
Tim_R_Jones@mgusa.com, Philip.Bacon@mgusa.com, Marcelo.Parra@mgusa.com
cc:

Subject: Metals - Energy Prospect

(See attached file: Bonnell-memo.doc)

TJ Pimpinelli
MG London Inc.
520 Madison Avenue
28th Floor
New York, NY 10022
Tel: 212.715.5867
Fax: 212.715.2360
E-mail: tj.pimpinelli@mglondon.com

 - Bonnell-memo.doc


When: Tuesday, October 23, 2001 2:00 PM-3:00 PM (GMT-08:00) Pacific Time (US
& Canada); Tijuana.
Where: 800-711-8000 (4153099 passcode)

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

2:00 PST/5:00 EST
Please call into the call number: 800-711-8000; 4153099 passcode
cb


Sorry about not getting back to you sooner.  I am in Calgary this week.
Stephanie and I met with Mark Taylor about this on Monday, and he said to go
ahead and confirm this under the Houston master with Hess Energy Trading
Company LLC.

	Julie Brewer@ENRON
	03/14/01 01:52 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: EOL Deals

Tana-

Just wanted to follow up with you and see if you have found anything out.

Thanks. Julie
---------------------- Forwarded by Julie Brewer/NA/Enron on 03/14/2001 01:52
PM ---------------------------

	Enron North America Corp.

	From:  Julie Brewer                           03/09/2001 03:00 PM

To: Stephanie Panus/NA/Enron@Enron
cc:

Subject: EOL Deals

Stephanie-

There are two deals from yesterday involving Hess Energy Trading Company UK
Limited as agents for Hess Energy Trading Company LLC. Would this entity be
covered under the Master Agreement with Hess Energy Trading Company LLC.

Thanks. Julie


Please approve the following product type in Data Manager after 11 A.M.

US Gas Phy Fwd Secondary Firm

STEPS FOR APPROVAL:

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


Wyndham Greenspoint
Salon 6 (2nd Level)
12400 Greenspoint Drive
Houston, Texas 77060-1998
281.875.2222


Here's the letter with some slight changes.
Drew and I thought it better to mention the interconnect for regulatory
reasons.  Questions? let's chat.
Thanks.


-----Original Message-----
From: 	Wagoner, Michael
Sent:	Tuesday, March 05, 2002 10:47 AM
To:	Corman, Shelley
Cc:	Floyd, Jodie; Blair, Lynn
Subject:	FW: Measurement Continuous Improvement - UAF Report

Shelley,  here is a copy of the UAF sub-committee findings and recommendations.   This is the committee I was on for a year.    I really believe this is a good document with a lot of valuable data but it is very large.   MIPS was the GMS system when this was written so many of the reports were MIPs generated.     They are working on reports for PGAS using "Business Objects" and Jodie and I will be receiving some one on one training tomorrow afternoon.

Tks - Mike W.

 -----Original Message-----
From: 	Baker, Robert
Sent:	Tuesday, March 05, 2002 9:39 AM
To:	Wagoner, Michael
Subject:	Measurement Continuous Improvement - UAF Report

Mike, all I have in electronic format is the UAF portion of the report. I couldn't find anything on PPA's.

Baker


Students,
Please read the attached letter of apology from Excite@Home
regarding the presentation no-show incident on 10/5.
Regards,
Rich

Rich Wong
Account Manager, Technology
MBA Recruiting
Haas School of Business Career Center
S-545 Student Services Building #1900
University of California
Berkeley, CA  94720-1900
Phone:  (510) 643-4211
Fax:    (510) 643-5257

 - Excite Apology Letter.doc


---------------------- Forwarded by David M Gagliardi/TTG/HouInd on
12/07/2000 05:25 PM ---------------------------

"Michael Gagliardi" <mikegag@dellnet.com> on 12/07/2000 04:14:13 PM

To:   <DGagliardi@reliantenergy.com>, <David_Ricks@GSDM.com>,
<Tony.A.Rogers@fritolay.com>
cc:

Subject:  Fw: True Orange Fax/E-Mail #2

----- Original Message -----
From: <TruOrange@aol.com>
To: <TruOrange@aol.com>
Sent: Thursday, December 07, 2000 3:06 PM
Subject: True Orange Fax/E-Mail #2

True Orange Fax/E-Mail Service
Volume 9, Fax/E-Mail #2, Thursday, December 7, 2000
Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
Phone
512-795-8536

Jakes Becomes Horns' 20th Pledge, More Expected Soon

DL Kaelen Jakes, 6-5, 260, 4.8, of Valencia, California, became Texas' 20th
commitment Thursday morning. He said he called UT assistant coach Tim
Brewster early Thursday and told him he wanted to play for the Longhorns.
Jakes is one of the top defensive line prospects in California. He played
nose guard most of last season, but played end for the final few games. He
had 60 solo tackles and 14 sacks. In the game I saw on tape, he was playing
nose guard and he had seven solo tackles and two sacks while being
consistently double-teamed.
He told me he doesn't care whether he plays defensive end or defensive
tackle. "I just want to play," he said. "I thought all along I probably
would
wind up at Texas and, after looking at everything, I think Texas is the
place
for me."
He said he had scholarship offers from Colorado, Miami, USC, UCLA, Oregon,
Oregon State "and just about everybody else in the Pac 10."
He narrowed it down to Texas and California, cancelling a scheduled trip to
Miami, then got an in-house visit from Washington coach Rick Neuheisel
Tuesday night  from Longhorn head coach Mack Brown  and Brewster Wednesday
morning before picking the Longhorns.
Jakes lived in Plano during his junior high years and said he really
enjoyed
his time in Texas.
"I think Texas is building something special," he said, "and I want to be a
part of it."
James fills an urgent need for Texas. The Longhorns need to sign some
defensive linemen and he and Tommy Harris, the big DT at Killeen Ellison,
are
the only top ones who have been seriously considering Texas. Harris, the
nation's top DT prospect, has been leaning toward OU recently, but he was a
heavy Texas lean earlier, so there is always a chance he will change again
until he signs with someone in February.
* * * *
WR Montrell Jones, 6-2, 185, 4.4, a national top 100 prospect from
Louisville, Ky., Male, says he is seriously considering Texas after backing
off an earlier commitment to Kentuckiy.
The Longhorns don't need a wide receiver this year unless they can sign a
great one. Jones is a great one with good height, great speed and very good
moves to go along with great hands.
The only other out-of-state prospects who have expressed any interest in
Texas lately  are TE Marcus Spears of  Baton Rouge Southern Lab, DT
Marquise
Hill of New Orleans De La Salle and  RB Eric Shelton of Lexington, Ky.,
Bryan
Station. The two Louisiana stars say they probably will visit Texas and
Shelton says he might visit the Longhorns.
* * * *
FOOTBALL NOTES: The Longhorns are 6-point favorites over Oregon for their
Dec. 29 Culligan Holiday Bowl clash in San Diego . . . Look for LB Aurmon
Satchell of Denver Jefferson, who signed with Texas last February, but ran
into some academic problems with the NCAA's National Clearinghouse, to
return
to Texas and enroll next  month for the spring semester. That would enable
him to go through spring practice and it also would keep him from counting
against the 25-man limit for the enrolling scholarship players next fall.
With 20 commitments already, that is very important. . . TE Brock Edwards
and
S Lee Jackson both appear to be recovered from the injuries that knocked
them
out of the last two games last year. They should be ready for the bowl game
unless they suffer a setback when practice resumes next week. . . When
Arizona hired former UT coach John Mackovic, the first thing that came to
my
mind was how Mackovic basically threw in the towel after the 66-3 UCLA loss
in his final 4-7 season coming on the heels of a 10-2 year that had given
the
Horns a top 10 pre-season ranking. Fast forward to this season. Mack
Brown's
Longhorns were a pre-season top 10 team, but OU mauled them, 63-14. Brown
said he was embarrassed to be the Longhorn coach and he really went to work
to bring the team back from that debacle. What he got was six straight
wins,
a bowl game and a team that can crack the top 10 in the final poll for the
first time in 17 years if it wins its bowl game. That's why he's worth the
big bucks and the other quy wasn't.
* * * *
My next fax will be whenever events warrant.
* * * *
The True Orange Fax Service includes  at  least  99 faxes  a year and costs
$99 ($79 by E-Mail). The True Orange Newsletter includes  26 newsletters
and
is published weekly during football season and twice monthly during most of
the other months. It costs $45. Save by subscribing to both for $130 (or
$110
if you take the faxes via E-Mail  or $99 if you take the faxes and
newsletter
via E-Mail). Send check  to address at the top of page. I also  update my
900 number - 1-900-288-8839 - daily with recruiting news. My E-Mail address
is: truorange@aol.com


Jeff

Why don't you take a stab at the disaster plan.

John
---------------------- Forwarded by John J Lavorato/Corp/Enron on 07/17/2000
09:27 AM ---------------------------

David W Delainey@ECT
07/10/2000 11:41 PM
To: Jeffrey A Shankman/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron
cc:

Subject:

I agree with Jeff - we need to have a more concrete plan and capability. Let
me know what you want me to do.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 07/10/2000
11:36 PM ---------------------------

	From:  Jeffrey A Shankman                           07/10/2000 03:57 PM

To: David W Delainey/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron
cc:
Subject:

I think it's time to review our disaster plan with respect to trading as we
enter hurrincane season.  As I understand, there is no real cohesive plan, or
course of action.  We could think about the Chicago office as an evacuation
site for redundant trading, etc. This issue affects all businesses, and Sally
and I have been talking about this problem.  John, should I get in touch with
Phillippe or do anything else?

Jeff


Louise,

Further to my previous e-mail, attached is a revised version of the letter with additional changes from Weil, Gotshal & Manges.  The second paragraph has been changed.   We plan to send this around at approximately 9:00 a.m. tomorrow.  Please let me know (ext. 66423) if you have changes or concerns.

Thanks,

John


The Team feels that there is NO coverage needed for November 9th through 11th.
	              			Thanks
                                                                  Bart


-----Original Message-----
From: 	Holst, Keith
Sent:	Thursday, January 10, 2002 10:52 AM
To:	Bhatia, Randy
Subject:

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

From:  <jdeleo@tfsbrokers.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 9:05:35 GMT
Subject:

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

From:  <davidn@apbenergy.com>
To: 'kholst@enron.com'
Date: Wednesday, December 12, 2001 8:28:03 GMT
Subject:

-----Original Message-----
From:	Eric Fischesser
Sent:	Wednesday, December 12, 2001 3:23 PM
To:	David Neal
Subject:

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

From:  <tblando@amerexenergy.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:24:34 GMT
Subject:

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

From:  <TVaughan@prebon.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:22:00 GMT
Subject:

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

From:  <STouchstone@natsource.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:12:36 GMT
Subject:

 <<Enron price sheet2.pdf>>

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

From:  <tblando@amerexenergy.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:08:04 GMT
Subject:

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

From:  <jdeleo@tfsbrokers.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:04:09 GMT
Subject:

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

From:  <STouchstone@natsource.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 5:23:31 GMT
Subject:

 <<Enron price sheet2.pdf>>

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

From:  <jdeleo@tfsbrokers.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 5:30:00 GMT
Subject:

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

From:  <tblando@amerexenergy.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 3:59:38 GMT
Subject:

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

From:  <TVaughan@prebon.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 2:13:25 GMT
Subject:

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

From:  <tblando@amerexenergy.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 3:52:58 GMT
Subject:

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

From:  <jdeleo@tfsbrokers.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 4:08:34 GMT
Subject:

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

From:  <davidn@apbenergy.com>
To: 'kholst@enron.com'
Date: Thursday, December 13, 2001 5:24:05 GMT
Subject:

-----Original Message-----
From:	Eric Fischesser
Sent:	Thursday, December 13, 2001 12:13 PM
To:	David Neal
Subject:

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

From:  <tblando@amerexenergy.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 9:14:45 GMT
Subject:

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

From:  <jdeleo@tfsbrokers.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 9:55:01 GMT
Subject:

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

From:  <TVaughan@prebon.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 1:54:44 GMT
Subject:

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

From:  <jdeleo@tfsbrokers.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 3:57:10 GMT
Subject:

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

From:  <tblando@amerexenergy.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 4:35:21 GMT
Subject:

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

From:  <tblando@amerexenergy.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 4:50:50 GMT
Subject:

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

From:  <jdeleo@tfsbrokers.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 7:45:43 GMT
Subject:

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

From:  <TVaughan@prebon.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Monday, December 17, 2001 2:00:45 GMT
Subject:

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

From:  <tblando@amerexenergy.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Tuesday, January 8, 2002 4:44:30 GMT
Subject:

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

From:  <jdeleo@tfsbrokers.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Tuesday, January 8, 2002 8:03:57 GMT
Subject:

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

From:  <tblando@amerexenergy.com>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Tuesday, January 8, 2002 9:02:42 GMT
Subject:

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

From:  <davidn@apbenergy.com>
To: 'kholst@enron.com'
Date: Tuesday, January 8, 2002 9:57:43 GMT
Subject:

-----Original Message-----
From:	Eric Fischesser
Sent:	Tuesday, January 08, 2002 4:53 PM
To:	David Neal
Subject:


EMAZING Home[IMAGE]Edit Your ProfilePrivacy

		Advice and Living - Brain Candy - Business and Money - Comics - Daybreakers -
Entertainment
		Espaol - Games - Good Thoughts - Grapevine - Greetings - Health - Hobbies -
Horoscopes
		Household Hints - Kitchen - Music - Sports - Style - Technology - Travel -
Wireless

		[IMAGE]

		  LET YOUR LAPTOP COMPUTER CONNECT TO THE INTERNET WIRELESSLY
		Sign up today for the Sierra Aircard and connect to the Internet Anytime,
Anywhere.  Simply slip the Aircard into your PC slot and you,re connected.
Order today and save $100, plus our 2-week money back guarantee. Click  here
for more details.

		Internet Tip of the Day
		Monday November 27, 2000

		For More Information ...

		For years now, public TV and other education-oriented broadcasters, like the
History Channel and Discovery Channel, have given their viewers Web addresses
where they can go to get more information on the program's topic. This is a
great idea, and not just because it'll help you get your homework done. If
you're inclined to watch "educational" TV in the first place, you probably
need no coaching to pursue topics you find interesting. These sites are great
places to start. They often list links and other resources. They're also
great for the morning after, when you're discussing what you watched last
night with your friends and co-workers. If you can't remember a certain
thing, or if anything is in dispute, a quick click or two will take care of
things. After all, the Internet is the ultimate argument-solver.

		- Dennis Ryan

		Email  this tip to a friend - Browse  the Archives

		Today's Science & Technology News:

		E.T. May Be Here
		Scientists thought we'd have to go to Mars or further to find
extraterrestrial life, but the answer may be in our own backyard,
cosmologically speaking -- microbes found in the upper atmosphere may be from
outer space. If so, it could bolster the "panspermia" idea that life camme to
Earth from space, possibly via comet. In other news, seeds buried by a
botanist 121 years ago have sprouted. The climate treaty talks appear doomed.
Also -- lost colony, nanocopters, pack-hunting dinosaurs, nuclear explosions
in space, and rule-breaking buckyballs! Click  here to read more!
		[IMAGE]

		Tip Gift
		@Home Internet Service
		Surf faster! Click here to learn about the nation's #1 broadband Internet
service

		Book
		BOOK  OF THE DAY
		The Beatles: The Beatles Anthology

		CD
		CD  OF THE DAY
		U2: All That You Can't Leave Behind

		Gift
		 GIFT  OF THE DAY
		Pacific Cycle: Red Blitz Mini Scooter

		DVD
		MOVIE  OF THE DAY (DVD)
		Mel Gibson: Chicken Run

		VHS
		MOVIE  OF THE DAY (VHS)
		A Charlie Brown Christmas
		QUOTE  OF THE DAY
		"No man who ever held the office of president would congratulate a friend on
obtaining it."
		- John Adams

		 [IMAGE]

		  Music is a way to escape the mundane world!
		And that's exactly what you can do with these FREE audio tips! Learn how to
take good care of your audio equipment, how to get the best sound for your
listening pleasure, or how to keep your mom from telling you to turn it down
(with the best headphones for your money)! Tune in to EMAZING's Audio Tip of
the Day! Click  here for more details.

		[IMAGE]
		?
		Advertise - Company Info - Feedback - Help - Jobs - Privacy Policy - Terms &
Conditions
		Archives - Edit Your Profile -?Unsubscribe

		EMAZING.com is a service of EMAZING, INC. Copyright 2000. All Rights Reserved.
		EMAZING.com - Whatever you're into, we email it to you. FREE!
[IMAGE]


Attached are 2 documents describing the reorganization of the west trading desk.  I have assigned new books to all of the traders except Phillip. We are currently moving the August physical trades into the new books and plan to be finished tomorrow. You will continue to use your existing financial books through July 31st.  All August physical deals done during bid week should flow into the new physical books and the old financial books.   Your financial trades will move on the night of July 1st after we calc.  Starting August 1st, you will have your positions in your new financial and physical books.  Russ is working on adding the new books to the West Intramonth Position Portfolio in Sitara.  You should be able to see your physical positions for August in the new books as soon as we get all of the deals moved (tomorrow evening at the latest).  The positions will be close in the morning, we just need to verify that we have not missed any deals and move all of the intra-desk deals.  Please let me know if you have any questions or concerns.

Thanks

Anne

You can reach me at 5-7735


Here are the latest files.  Color copies are in the printer right now.

Brgrds

AI


(See attached file: HPLN0125.xls)

 - HPLN0125.xls


What's the big deal?  It's only one digit...But, if it will make you happy, I will fix it.

D

 -----Original Message-----
From: 	Parker, Megan
Sent:	Tuesday, December 11, 2001 3:57 PM
To:	Farmer, Daren J.
Subject:	RE: Tenaska IV 11/01

Can you look at this again?  I'm missing the 7 before the decimal point.

Megan

 -----Original Message-----
From: 	Farmer, Daren J.
Sent:	Tuesday, December 11, 2001 2:10 PM
To:	Parker, Megan
Subject:	RE: Tenaska IV 11/01

done.

 -----Original Message-----
From: 	Parker, Megan
Sent:	Tuesday, December 11, 2001 9:56 AM
To:	Farmer, Daren J.
Subject:	Tenaska IV 11/01

Darren:
It's that time again.  Please remove the price on deal 384258 for Nov and add a demand fee of $3,096,547.98.

Thanks,
Megan

 << File: 2001FuelMgmt Nov(12-11-01).xls >>


Hi,

 How are you?  London seems to be the same as when I left in August - no sun,
cold, serious looking people, expensive, etc.  In addition, we have had May
Day riots, a post office bombing, train strike, etc.  Not to mention all the
excitement in Enron Credit.

 It would be nice to know who I am supposed to be reporting to.  I am getting
loads of conflicting messages - as illustrated in the forwarded email from
Vasant.  According to you and Slava, the strategy paper/Duffie report seems
to be a higher priority.  However, Vasant seems to indicate (in his forwarded
email) that this is not the priority at the moment.

 In addition, there seems to be lots of chaos in Enron Credit - not only in
the Houston office, but even more so in the London office.  This brings to
mind a Russian proverb I learned from Slava when he expressed his views on
the current state of Enron Credit - " a fish rots from the head."

 Finally, I would like to know exactly what you want me to write in this
Duffie report:  Do you want to hear what Enron Credit would like to hear -
that all they need is for us to develop a private firm model for their
exisiting "infrastructure"?  Or do you want to hear what I really see, hear,
read, etc.?  If the latter is true, then I may need to write two reports,
because what I am learning does not look too good and would probably not make
the Enron Credit personnel too happy.

 Well, I think I have said enough for now.  Look forward to your feedback.

Thanks,
Iris

 -----Original Message-----
From:  Shanbhogue, Vasant
Sent: Friday, May 04, 2001 3:39 PM
To: Mack, Iris
Cc: Dhar, Amitava
Subject: london work

Hi Iris,

 Amitava must have told you that both he and I are getting swamped with work
here.  As a result, we expect you to take the lead in scoping the Enron
credit project and making sure the infrastructure is readied.  You should
also make sure to understand the econometric/data analysis software side of
the project -- this is probably more important than preparing a document for
Duffie right now.  You should definitely sit with Ben/George and actually run
the software with them to get a feel for how it is to be used.  But we also
need to be able to try out potential other ways of analyzing data.  Both
Amitava and I will help as best as we can, and answer any direct questions,
but we will have limited time to review documents, etc.  I expect Amitava to
get heavily involved once data starts coming, but we expect you to have
already set up the infrastructure etc for the data.

Hope the trip is going well.  Would you be extending the trip for some more
time?

Vasant


Is this okay with you.  Thanks, Aleck
----- Forwarded by Aleck Dadson/TOR/ECT on 04/23/2001 02:03 PM -----

	Aleck Dadson
	04/23/2001 01:01 PM

		 To: Eric Thode/Corp/Enron@ENRON
		 cc: mpenney@gpc.ca, pvarley@gpc.ca
		 Subject: Market Opening Position

Eric, we are pretty sure the announcement will be that they will open the
market by May 2002.  Today, senior political and bureaucratic staff in the
Ministry of Energy have gone out of their way to stress that the announcement
is designed to leave open the  real possibility of an earlier opening (i.e.
in November 2001) if that is feasible.   As matters stand, I think that our
response should be: a) We are pleased by the reaffirmation of the gov'ts
intention to move forward with competition in the Ontario power market; b)
our understanding of the position is that it leaves open the  real
possibility of opening the market earlier, such as of November 1, 2001;  c)
we continue to believe that an opening in November  2001 is feasible and in
the best interests of Ontario (for the reasons set forth in Ken Lay's speech)
; and  d) accordingly, we will continue to work towards a November opening
and we encourage all others in the market  to do the
same.                      Peter Varley of GPC is going to give you a call.


I believe they already forward such companies to us

From: Tana Jones@ECT on 01/11/2000 05:54 PM CDT
To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Australia & Japan

The only online trading counterparty lists I am aware you see are the lists
that originate from Houston Credit.  London has their own lists of
counterparties I never see.  Do you think we need to get them to forward all
lists with Japanese & Australian counterparties to you and Jane for approval?


In order for me to insure that I have the apropriate room accommodations and
so that I can begin to plan our interview schedules for next week, please
confirm the following:

Sally Beck -- Monday night only: interview Monday (after 9am) and Tuesday
until noon
James Scribner -- Monday night only:  interview Monday (after 9am) and
Tuesday until noon
Patrick Wade -- Sunday night only: interview Monday (all day)
Pat Maloy -- Sunday night only: interview Monday (all day)
Jody Crook -- Sunday night only: interview/greet (as needed) Monday only
Justin O'Malley -- Monday night only: Greeter Tuesday?
Mark McConnell -- participation uncertain
Tana Cashion -- No room needed: interview Monday (all day) and Tuesday?

If you are available to come Sunday night for a pre-interview reception,
please let me know.
Also, if you will be able to help in addition to the times listed beside your
name, please let me know -- the more Tuesday interviewers we have, the better!

It is our goal to conduct round 1 interviews and begin round 2 interviews on
MONDAY.  We plan to finish Round 2 by noon on Tuesday so that we can all
return home to Trick-or-Treat!!!!

Thank you!

lexi
3-4585


i didn't mean to be snippy.  i am just stressed.  how is everything going?  i
am going home for a week.  i am looking foward to it.


I know that was the plan and we do intend to work with AReM, but we may have to file if our needs aren't met.

Jim

 -----Original Message-----
From: 	Huddleson, Diann
Sent:	Monday, November 19, 2001 11:44 AM
To:	Steffes, James D.
Subject:	RE: FW: A.98-07-003 et al. JOINT PROPOSAL OF THE UTILITIES TO IMPLEMENT THE COMMISSION'S SUSPENSION OF DIRECT ACCESS FILED TODAY

She indicated that Dan Douglas is the attorney for AReM and that Enron would make comments to his responses.

From:	James D Steffes/ENRON@enronXgate on 11/19/2001 11:05 AM
To:	Diann Huddleson/HOU/EES@EES, Jeff Dasovich/ENRON@enronXgate
cc:
Subject:	RE: FW: A.98-07-003 et al. JOINT PROPOSAL OF THE UTILITIES TO IMPLEMENT THE COMMISSION'S SUSPENSION OF DIRECT ACCESS FILED TODAY

Not sure yet.  We will be talking with AReM and will want your input.  We may have to file but not sure.

Jim

 -----Original Message-----
From: 	Huddleson, Diann
Sent:	Monday, November 19, 2001 11:01 AM
To:	Steffes, James D.
Subject:	Re: FW: A.98-07-003 et al. JOINT PROPOSAL OF THE UTILITIES TO IMPLEMENT THE COMMISSION'S SUSPENSION OF DIRECT ACCESS FILED TODAY

Jim, Sue Mara said that Dan Douglas would be making the response to this  and asked me to review since she is on vacation.   Did Enron decide to file separate comments?

From:	James D Steffes/ENRON@enronXgate on 11/19/2001 10:32 AM
To:	Mike D Smith/HOU/EES@EES, Tim Belden/ENRON@enronXgate, Jeff Richter/ENRON@enronXgate, Lamar Frazier/HOU/EES@EES, Jeremy Blachman/ENRON@enronxgate, Jeff Dasovich/ENRON@enronXgate, Susan J Mara/ENRON@enronXgate, Stephen Swain/ENRON@enronXgate, Alan Comnes/ENRON@enronXgate, Diann Huddleson/HOU/EES@EES, Evan Hughes/ENRON@enronxgate, Kevin Keeney/HOU/EES@EES
cc:	Vicki Sharp/HOU/EES@EES, Richard Shapiro/ENRON@enronXgate
Subject:	FW: A.98-07-003 et al. JOINT PROPOSAL OF THE UTILITIES TO IMPLEMENT THE COMMISSION'S SUSPENSION OF DIRECT ACCESS FILED TODAY

Attached is the most recent statement from the California Utilities that implements the DA Suspension (filed Friday). Comments are due Nov 28 (Wed) from parties.

The Utilities continue push for a "hard" deadline of DA.  They also offer an option where Suppliers would be required to submit a Affidavit for incremental DASRs and potentially have the CPUC review the specific contract language.  Of course, in no event do they believe that any customer should be allowed to have DA service if the customer's name was not on our Oct 5 Customer List.

Jeff and I will be talking with Mike Smith (and anyone else who wants to participate) to work through our response to these comments.

Jim

-----Original Message-----
From: Dasovich, Jeff
Sent: Monday, November 19, 2001 10:10 AM
To: Steffes, James D.
Subject: FW: A.98-07-003 et al. JOINT PROPOSAL OF THE UTILITIES TO
IMPLEMENT THE COMMISSION'S SUSPENSION OF DIRECT ACCESS FILED TODAY

-----Original Message-----
From: JBennett [mailto:JBennett@GMSSR.com]
Sent: Friday, November 16, 2001 6:52 PM
To: Jeff Dasovich (E-mail); Sue Mara (E-mail)
Subject: FW: A.98-07-003 et al. JOINT PROPOSAL OF THE UTILITIES TO
IMPLEMENT THE COMMISSION'S SUSPENSION OF DIRECT ACCESS FILED TODAY

Attached is the joint proposal of the UDCs. We must file comments on
November 28th
> -----Original Message-----
> From:	Molina, Rachel [mailto:RMolina@Sempra.com]
> Sent:	Friday, November 16, 2001 4:40 PM
> To:	abb@eslawfirm.com; adf@cpuc.ca.gov; beth.fox@sce.com;
> bfinkelstein@turn.org; bgex@skjerven.com; BJulian2@aol.com;
> btenney@landuselaw.com.; cjb@cpuc.ca.gov; dclark@sempra.com;
> dlf@cpuc.ca.gov; douglass@energyattorney.com; edwardoneill@dwt.com;
> ek@a-klaw.com; fdeleon@energy.state.ca.us;
> furutanj@efawest.navfac.navy.mil; hal@cpuc.ca.gov; jbennett@gmssr.com;
> jgl@cpuc.ca.gov; jlkm@pge.com; jlondon@gralegal.com; kmccrea@sablaw.com;
> kmills@cfbf.com; kth@cpuc.ca.gov; ktilton@gralegal.com; lmh@eslawfirm.com;
> lss@cpuc.ca.gov; mer@cpuc.ca.gov; mFerrara@apsc.com; mgomez1@bart.gov;
> mpa@a-klaw.com; mshames@ucan.org; napedersen@jonesday.com;
> phanschen@mofo.com; pstohr@dbsr.com; rab@cpuc.ca.gov;
> rclark@coral-energy.com; shotwejp@sce.com; sjy@cpuc.ca.gov;
> wbooth@booth-law.com; blaising@braunlegal.com; jbarthrop@electric.com;
> jguzman@nossaman.com; jsqueri@gmssr.com; kmcspadd@milbank.com;
> lwhouse@el-dorado.ca.us; mmattes@nossaman.com; omv@cpuc.ca.gov; Parrott,
> Jeff; sberlin@mccarthylaw.com; yee@cpuc.ca.gov
> Cc:	Szymanski, Paul
> Subject:	A.98-07-003 et al. JOINT PROPOSAL OF THE UTILITIES TO
> IMPLEMENT THE COMMISSION'S SUSPENSION OF DIRECT ACCESS FILED TODAY
>
> 	 <<98-07-003 joint proposal(v1).DOC>>  <<98-07-003 Attachment
> A(v1).DOC>>
>
> This filing was made today at the CPUC's San Diego Office. << File: 98-07-003 joint proposal(v1).DOC >>  << File: 98-07-003 Attachment A(v1).DOC >>


PBS's Frontline to Air First Television Investigation of California Energy
Crisis
PR Newswire, 06/01/01

Energy wholesalers on PG&E committee accused of conflict
Associated Press Newswires, 06/01/01

CANADA: Delays could unplug Enron's Ontario power plans.
Reuters English News Service, 06/01/01

USA: NewPower sees savings from smart energy technology.
Reuters English News Service, 06/01/01

Amer Elec Power Completes Houston Pipe Line Buy >AEP ENE
Dow Jones News Service, 06/01/01

California Lawmakers Weigh Plan to Let Business Shoulder Burden of Utility
Rescue
Dow Jones Business News, 06/01/01

Williams CEO fears bankruptcies in California
Associated Press Newswires, 06/01/01

Saudi Gas Ventures May Offer Promise, Small Returns (Update1)
Bloomberg, 06/01/01

PBS's Frontline to Air First Television Investigation of California Energy
Crisis

06/01/2001
PR Newswire
(Copyright (c) 2001, PR Newswire)

'Blackout' is a FRONTLINE co-production with The New York Times
BOSTON, June 1 /PRNewswire/ -- FRONTLINE and The New York Times join forces
to investigate the story behind the California energy crisis in "Blackout," a
new documentary airing Tuesday, June 5, at 10 P.M. on PBS (check local
listings). Through interviews with utility executives, industry insiders, and
state and federal officials, the one-hour documentary examines how profits of
both power companies and energy-trading giants have soared amid a
deregulation process that has produced blackouts and rate hikes for
consumers. The program also explores why the federal government refused for
months to intervene in the California crisis, as well as the rationale for
dismantling the old system of utility regulation.
"Blackout" examines the importance of a new kind of megacorporation: giant,
national holding companies that trade electricity and gas much like any other
commodity. With names like Enron, Dynegy, Reliant, and El Paso -- and with
close ties to high-ranking Republican and Democratic officials -- these
energy traders have seen their profits explode in recent years even as
consumers endured power shortages and rate hikes.
FRONTLINE and The New York Times interview key figures on both sides of the
energy debate, including Vice President Dick Cheney, California Governor Gray
Davis, Enron CEO Jeff Skilling, and Curt Hebert, chairman of the Federal
Energy Regulatory Commission (FERC). State utility executives and citizens'
advocates, who charge that California's deregulation fell prey to market
manipulation, are also interviewed.
Following the broadcast, viewers can learn more about the energy crisis by
logging on to FRONTLINE's companion "Blackout" Web site --
http://www.pbs.org/frontline/shows/blackout. In addition to articles and in-
depth interviews on the power crunch, the site will feature graphs and
timelines illustrating the origins of the California crisis, America's
historical and projected power usage, and the profits of the major power
companies and energy-trading giants. The site also will offer an analysis of
the Bush administration's energy plan.
MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X68531669

/CONTACT: Erin Martin Kane of FRONTLINE, 617-300-3500,
erin_martin_kane@wgbh.org; or Diane McNulty of The New York Times,
212-556-5244 mcnuldc@nytimes.com/ 12:40 EDT

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

Energy wholesalers on PG&E committee accused of conflict
By KAREN GAUDETTE
Associated Press Writer

06/01/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

SAN FRANCISCO (AP) - Two of the same energy wholesalers accused of driving
Pacific Gas and Electric Co. into bankruptcy with high power prices asked a
federal bankruptcy judge Friday to let them keep selling electricity to the
utility.
Critics say that could result in higher bills for ratepayers and less money
for the rest of PG&E's creditors to share, if the wholesalers' high prices
keep whittling away at the utility's remaining money.
"We certainly don't believe they should get a safe harbor order so that they
can do what they've done in the past," said Irving Sulmeyer, an attorney
representing the city and county of San Francisco.
Houston-based Enron Corp. and Dynegy Inc., like other power wholesalers, have
denied gouging Californians on the price they pay for power.
On Friday, the two companies asked U.S. Bankruptcy Judge Dennis Montali to
let them keep selling electricity to PG&E's customers via the state
Department of Water Resources, which has bought electricity on PG&E's behalf
since January.
Dynegy and Enron sit on the 11-member creditors committee that will play a
huge role in how PG&E's fortunes are divided among the more than 50,000
banks, energy companies and cities to whom the utility owes money.
The "safe harbor" would shield them from conflict of interest accusations.
The committee members would be honor-bound not to share information with any
branches of their companies able to profit from it.
"They want to be absolved in advance," Sulmeyer said. "What are they so
concerned about if they're not doing anything wrong?"
Robert Moore, an attorney representing the voluntary creditors committee,
said other committee members such as Bank of America and Merrill Lynch also
are requesting safe harbors so they can continue trading stock and remain
members.
"At least four members of the committee would have to resign without it,"
Moore told the judge.
Montali asked each committee member to file a declaration with the court
requesting to trade either commodities (electricity) or securities (stock),
and scheduled another hearing on the issue for June 12.
---
http://www.pge.com
http://www.canb.uscourts.gov

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

CANADA: Delays could unplug Enron's Ontario power plans.
By Scott Anderson

06/01/2001
Reuters English News Service
(C) Reuters Limited 2001.

TORONTO, June 1 (Reuters) - A planned C$200 million ($130 million) power
plant for southwestern Ontario may be in jeopardy if the provincial
government continues to drag its feet on deregulating the province's
electricity market, the head of Enron Corp.'s Canadian unit said on Friday.
Enron, the Texas-based energy firm, is slated to build the 400-megawatt Moore
project near Sarnia, Ontario. But construction of the plant is contingent on
the government's date for opening the market to competition and time may be
running out, Ron Milnthorp, president of Enron Canada, told Reuters in a
telephone interview from Calgary.
"I think we are really looking for a fall date as an optimum time for us to
align our interests with Ontario," Milnthorp said.
"If it's put off until spring, I do believe that the project is somewhat in
jeopardy and would need to be assessed from an operational standpoint against
all other opportunities that Enron has on its plate."
Ontario said in April that deregulation would be brought into effect by the
late spring of 2002, but was accused of raising market uncertainty by not
setting a specific target date.
The government may have a better idea of its timetable in September, after a
key study by the Independent Electricity Market Operator (IMO) and the
Ontario Energy Board (OEB) is finalized. The two have set up a joint task
force to prepare for an open the wholesale and retail electricity market.
Milnthorp said Enron still holds out hope the province will give a target
date soon after the September study is released.
"The problem is date certainty. The way things are structured, they have a
conditional announcement," he said. "We would really like to have a date so
that we can start investing further capital in that project."
Although Milnthorp said Enron is "still committed to Ontario," he said the
company will not invest any further until there is greater certainty.
"We're on hold at this point," he said. "You can't conditionally invest
capital. Capital investment is unconditional and we're looking for a date
that is unconditional also, and I think that is consistent with Enron and
other outside investors who are going to have the same opinion."
The company needs about six to 12 months to build the new plant, he said. The
turbines and most of the required permits are already in place.
Ontario, Canada's most populous province, has already pushed back its
original deregulation deadline of November 2000 by one year to try to avoid
the kind of problems encountered in California and to a lesser extent in
Alberta.
California's electricity deregulation has been plagued by skyrocketing costs,
bankruptcy and rolling blackouts as power demand has increased dramatically,
while little new generating capacity has been added in the past 10 years.
In Alberta, consumers have been hit with a series of cost increases as the
province deregulates its power sector.
Enron officials say Ontario should not be viewed in the same light as
California or Alberta. While California's concerns are purely one of supply
and demand, Ontario already has adequate generating facilities to fuel the
needs of the province.
"There are significant differences between Ontario and California and there
is absolutely no expectation that the scenario that is unfolding in
California now will unfold in Ontario," said Aleck Dadson, senior director of
governmental affairs at Enron.
($1=$1.53 Canadian).

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

USA: NewPower sees savings from smart energy technology.

06/01/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, June 1 (Reuters) - NewPower Holdings Inc. said it will conduct
three pilot programs in Philadelphia to test consumers' reaction to "smart"
energy saving technology.
With the restructuring of the electricity industry, energy companies expect
to offer customers new products and services designed to save money and
conserve energy.
These new products, however, require "smart" meters that tell "smart" device
to operate when the cost of generating electricity is cheapest.
Some of these "smart" meters and devices are now available to large
commercial and industrial consumers but, for the most part, are either too
expensive or in the development stage for the average homeowner, pending
testing in pilot programs like the NewPower program.
"Energy restructuring leads to technological innovation, efficiency and
environmental benefits," said H. Eugene Lockhart, The New Power Co.'s
president and chief executive officer.
Almost all utilities still sell power to residential customers at flat rates
throughout the day regardless of what that power costs in the wholesale
market.
"These pilots are a wonderful example of control being shifted from the
utility to the consumer. The nation's move to energy restructuring makes it
possible for consumers to better manage their energy needs," Lockhart said.
THE PILOT PROGRAMS
The three pilots consisting of 100 households each will include: a
time-of-use metering pilot; an HVAC (heating, ventilation and air
conditioning) load control pilot, and an interactive pilot allowing consumers
to remotely access their thermostat from any Internet-enabled device.
New Power said it will install meters in consumers homes in the time-of-use
metering program. the meters record daily energy use and will enable NewPower
to better understand typical energy consumption patterns.
In the HVAC load control pilot, NewPower will install air conditioning
programmable thermostats in 100 homes to gauge customers' reaction to having
NewPower remotely alter their thermostat setting by 2 to 6 degrees to help
the homeowner better manage their energy usage and costs.
In the remote energy management system pilot, consumers can change their
thermostat setting from any Internet-accessible device. However, unlike the
HVAC load control pilot, NewPower said the customer always remains in control
and may override the adjustment at any time from the Web or a wireless
device.
The pilot programs will run from early June to the end of September - the
peak season for energy consumption when air conditioning pushes electric
demand to annual peaks.
NewPower Holdings, based in Purchase, N.Y., through its subsidiary The New
Power Co., is the first national provider of electricity and natural gas to
residential and small commercial customers in the U.S.
- Scott DiSavino, New York Power Desk, +646-223-6072, fax +646-223-6079,
e-mail scott.disavino@reuters.com.

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

Amer Elec Power Completes Houston Pipe Line Buy >AEP ENE

06/01/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)

COLUMBUS, Ohio -(Dow Jones)- American Electric Power Co. (AEP) completed the
purchase of Houston Pipe Line Co. from Enron Corp. (ENE) for $726.6 million.
In a press release Friday, American Electric said it will raise the money for
the acquisition by issuing a noncontrolling, preferred equity stake to
private investors.
The acquisition included Houston Pipe Line's inventory and a 30-year pre-paid
lease for the Bammel storage facility. American Power now has daily gas
capacity of about 3.2 billion cubic feet and more than 6,400 miles of natural
gas pipeline across Louisiana and Texas.
New York Stock Exchange-listed shares of American Electric closed Friday at
$49, down $1.20, or 2.4%, on composite volume of 1 million shares, about 12%
higher than average daily volume.
Company Web site: http://www.aep.com
-Pamela Tate; Dow Jones Newswires; 201-938-5400

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

California Lawmakers Weigh Plan to Let Business Shoulder Burden of Utility
Rescue
By Jason Leopold

06/01/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)

Dow Jones Newswires
LOS ANGELES -- Lawmakers in California are mulling yet another set of ideas
for rescuing embattled utility Southern California Edison, and this time
businesses would be on the hook.
In an attempt to deflect charges of a bailout that have thus far stymied
efforts to restore the Edison International (EIX) unit to solvency,
legislators are now considering ways to shift the burden of financing the
rescue from residential ratepayers to the state's largest businesses, aides
to key state lawmakers said this week.
The ideas being worked over by Senate President Pro Tem John Burton, Assembly
Speaker Robert Hertzberg and Assemblyman Fred Keeley have yet to take shape
as formal proposals. But an aide to Mr. Burton said some key lawmakers are so
"desperate" to keep Southern California Edison from following PG&E Corp.
(PCG) unit Pacific Gas & Electric Co. into a bankruptcy filing that they are
willing to consider anything that will take residential consumers out of the
equation.
"The idea is that the large industrial customers are the ones who pushed for
deregulation in the first place, so they should be responsible for bailing
out Edison," the aide said. "We're looking to take the burden off of
residential ratepayers."
The premise of a plan discussed by lawmakers Thursday is to designate
Southern California Edison's largest commercial ratepayers as non-core
customers. Those customers -- some 3,600 users of more than 500
kilowatt-hours a month -- would be responsible for financing the cost of
power the utility must purchase or have purchased for it in the wholesale
market. The non-core customers would also help the utility recoup most of its
$5.5 billion in unrecovered power costs through a surcharge on their bills.
Core residential customers would be protected from the wholesale power market
as the primary beneficiaries of the low-cost power the utilities generate
themselves or have locked up in long-term contracts.
The core/non-core proposal is one of several being discussed by lawmakers as
alternatives to a memorandum of understanding California Gray Davis struck
with Edison in April. The pact -- which doesn't vary much from an agreement
in principle reached in February - - has been called dead on arrival by some
lawmakers, who have been mulling various alternatives rather than moving the
agreement forward.
Dominic DiMare, a lobbyist with the California Chamber of Commerce, said the
chamber has told the Davis administration that shifting the burden of the
Southern California Edison bailout to businesses is "a very bad idea" that
could cost the state billions of dollars in economic activity.
"This (plan) would really screw businesses," Mr. DiMare said. "We just got
hit with a 50 to 90% rate increase. We're dangerously close to losing our
businesses to other states."
Separately, Enron Corp. (ENE) has been lobbying lawmakers for several weeks
to win approval to sign power-supply contracts with Southern California
Edison's largest commercial customers, leaving the utility to serve just its
residential customers and small businesses, aides to Gov. Gray Davis, Mr.
Burton and Mr. Hertzberg said.
An Enron executive confirmed that the company sent a four-page proposal to
Hertzberg proposing that Southern California Edison's large industrial
customers sign so-called direct-access contracts with Enron. Enron also has
recently made a presentation about direct access to some members of the
California Chamber of Commerce.
Under the proposal, heavy users would be required to contract directly with
companies like Enron for their power.
Direct access was a key part of the state's 1996 deregulation plan, but was
scrapped early this year when the state started buying wholesale power in
place of the utilities.
Write to Jason Leopold at jason.leopold@dowjones.com
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.

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

Williams CEO fears bankruptcies in California

06/01/2001
Associated Press Newswires
Copyright 2001. The Associated Press. All Rights Reserved.

TULSA, Okla. (AP) - Allegations of price fixing are locking energy suppliers
out of efforts to solve California's power squeeze, the head of a Tulsa-based
energy provider says.
"We have been demonized to the point that we are not a credible voice
politically," said Keith Bailey, chairman, president and chief executive
officer of Williams.
California energy regulators say they are close to finishing probes into
whether electricity wholesalers illegally manipulated the power market,
driving up prices.
The Federal Energy Regulatory Commission earlier this year alleged that
Williams profited from the closure of two Southern California power plants
owned by a business partner, Arlington, Va.-based AES Corp.
Williams admitted no wrongdoing but refunded $8 million to settle the
charges.
California's inv-estigations are examining the conduct of Williams, as well
as that of other wholesalers, including Houston-based Enron Corp., Dynegy
Inc., and Reliant Energy, Charlotte, N.C.-based Duke Energy and Atlanta-based
Mirant Corp.
Bailey said California owes Williams more than $600 million for electricity
sold to the state.
He said California lawmakers must act soon if they want to keep the state's
struggling electric utilities from going bankrupt. Bailey said the matter
could be assigned to a bankruptcy judge if lawmakers fail to establish a plan
to restore the financial health of those utilities.
Williams supports short-term price controls to get the utilities back on
track. The company also supports Gov. Gray Davis' efforts to pass legislation
that would help Southern California Edison, the state's second-largest power
provider, pay its debts.
California's largest utility, Pacific Gas & Electric, rejected a similar deal
and filed for bankruptcy protection.

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

Saudi Gas Ventures May Offer Promise, Small Returns (Update1)
2001-06-01 14:26 (New York)

Saudi Gas Ventures May Offer Promise, Small Returns (Update1)

     (Updates first, second paragraphs to reflect that Enron quit
the project. Adds quote in 18th paragraph.)

     London, June 1 (Bloomberg) -- Exxon Mobil Corp., BP Plc,
Royal Dutch/Shell Group and four other energy companies are set to
spend $25 billion on Saudi Arabian natural gas ventures that some
analysts say may barely meet managements' profit targets.
     Along with Total Fina Elf SA, Conoco Inc., Phillips Petroleum
Co. and Occidental Petroleum Corp., the partners are scheduled to
sign agreements this weekend for the three projects. Their annual
return on investment may at best be 15 percent, a level some
companies call the minimum to justify spending, analysts said.
     ``Fifteen percent might be a limit,'' said Jon Wright, an
analyst at Merrill Lynch & Co. ``But maybe they are taking the
view that, `We need to be here, we have to be here and it's a
major, important area.'''
     Flush with cash -- Exxon, Shell and BP alone posted net
income of $41.5 billion last year -- oil companies are seeking the
best ways to meet annual growth in energy demand while maximizing
profits. Saudi Arabia has said those who help now will likely get
first crack at the nation's oil fields, the world's largest,
should they open to foreigners.
     Executives from the seven partners are scheduled to sign the
agreements Sunday in the Red Sea coast city of Jeddah, ending
years of talks and marking the return of Western oil companies to
the kingdom for the first time in two decades. Financial terms of
the ventures are to be negotiated later this year.
     ``It's unlikely to contribute to the bottom line in the short
term,'' said Roger Richards, who helps manage more than 3 billion
pounds ($4.26 billion) in the U.K. for Prudential Bache Ltd.
clients. Still, ``it's important to the majors to be in such an
important gas province when it's potentially the door to getting
back into Saudi oil.''

                           Further Talks

     Development of gas fields to fuel power plants and water
desalination factories is part of Saudi Arabia's plan to convert
its power industry from running on oil to gas. The nation wants to
free more crude oil for export and provide jobs for the estimated
15 percent of the population who are unemployed.
     Many analysts said the return on investment will barely match
the companies' targets -- in Shell's case, 15 percent return based
on oil prices at less than half of today's levels.
     U.S. brokerage Fahnestock & Co. estimates returns from the
Saudi projects at 10 percent to 15 percent. Deep-water oil and gas
drilling can pay back 40 percent a year, said J.J. Traynor, an
analyst at Deutsche Bank AG in Edinburgh, Scotland.
     ``The line in the sand for the major oils is a 15 percent
return -- they won't go below that,'' Traynor said. ``In the long
term, maybe oil becomes available. That's 10 or 20 years away, but
you have to be there now.''
     Lee Raymond, Exxon's chairman and chief executive, has said
he expects returns from the Saudi ventures in the ``mid to high
teens.'' That's lower than the 20.6 percent return on capital
Exxon posted last year and rival BP's 23 percent return, when
adjusted for special items.

                         Little Risk

     The benefits of going into Saudi are twofold, analysts said.
Firstly, the winners will have a lead should the country open
access to its crude oil reserves.
     Secondly, the projects carry little risk compared to
exploratory drilling that can cost millions for nothing more than
a hole in the ground. Much of the Saudi reserves are already
mapped, and the government understands it needs Western capital
and expertise.
     ``It's in the Saudis' interests to get Western oil companies
involved again,'' said Will Claxton-Smith, director of U.K.
equities at Clerical Medical Investment Group Ltd., which owns BP
and Shell shares. ``You wouldn't want them to be left out.''
     The kingdom has not yet named the leaders of the $17 billion
South Ghawar gas project, the centerpiece of its plan, or the $4
billion Shaybah field.
     Companies selected for these two developments include Exxon,
Shell, BP, Phillips, Conoco and Total. Saudi Arabia picked Exxon
to lead the estimated $4 billion Red Sea gas development project,
with Occidental and Enron Corp. as junior partners.

                            Enron Quits

     Enron today withdrew from the venture, leaving partner
Occidental to absorb its role, Enron spokesman Alex Parsons said.
He declined to say why Enron pulled out. The company has been
moving away from large infrastructure projects to focus on trading
natural gas, electricity and other commodities.
     ``If we have a continued association with this project, it
will be to provide services under a separate contract directly
with Occidental,'' Parsons said.
     Once the ink dries this weekend, financial negotiations
between the kingdom and the companies should take months, analysts
said.
     ``The companies are keen to get their foot through the door
but they're not going to throw shareholders' money away,'' said
Leo Drollas, deputy executive director of the Centre for Global
Energy Studies, which was founded by former Saudi oil minister
Sheikh Zaki Yamani. ``They are not philanthropic institutions. If
they're not happy, they won't do it.''


Attached is a copy of the Texas Supreme Court's decision
yesterday in the Quantum Chemicals case, holding that a plaintiff in an age
discrimination claim under Texas law need only prove that age was a
"motivating factor" in his/her termination.

The practical effect of this ruling is that it is easier for a plaintiff to
prevail on claims of discrimination under the Texas statute.

This makes it all the more important for us to be sure that we have
legitimate, non-discriminatory reasons for a discharge decision prior to the
termination taking place.  Otherwise, we could find ourselves in an uphill
battle in litigation.

 - Tx S Ct.htm

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

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

This message may contain confidential information that is protected by the
attorney-client and/or work product privileges.


Coming Full Circle: A Plausible Future for Power Generation

Speaker:
Amy Oberg
Manager, Competitive Intelligence and Future Foresight
Enron Energy Services

Wednesday, May 30
11:30 a.m. to 12:30 p.m.
EB 5C2

To Make a Reservation, Call 3-1941 and Select Option 1.

Lunch will not be provided, but you are welcome to bring your own.

Please inform us ahead of time if you need special accommodations to participate in this meeting.  Call 3-9390.


In the past someone at Bridgeline would call someone at ENA or vice versa to approve the deal ticket so that the deal terms would populate the accounting system.  Note: this would only happen with Brigdeline because it is and Enron affiliate and because we are using the same trading systems.

Approving this ticket will give Bridgeline the ability to bill ENA.  I think there might be another way to do this without someone at ENA approving a ticket.  I'll see what I can do.

 -----Original Message-----
From: 	Schneider, Chip
Sent:	Monday, June 17, 2002 1:27 PM
To:	Germany, Chris; McMichael Jr., Ed; Barbe, Robin; Concannon, Ruth
Cc:	Gray, Barbara N.
Subject:	RE: Bridgeline Invoicing

Nothing is paid to or agreed with Bridgeline until we reach resolution and get approval to proceed.  Have we received these in past months?  What have we done with those?

If it does not create a confirmation, what does it mean to approve this ticket?

 -----Original Message-----
From: 	Germany, Chris
Sent:	Monday, June 17, 2002 12:56 PM
To:	McMichael Jr., Ed; Barbe, Robin; Schneider, Chip; Concannon, Ruth
Subject:	Bridgeline Invoicing

ENA and Bridgeline use the same trading/accounting system, Sitara and Unify.  In the good ol' days, the traders would enter the deals in Sitara (which includes volume and pricing terms).  Accounting would use Unify to track the volumes and bill and pay our counter parties.  Unify gets the pricing information from Sitara.

Bryant Baker at Bridgeline is asking me to approve Sitara deal #1190691.  This deal shows Bridgeline Storage Company as the seller of storage service and Enron North American as the buyer.  The demand charge on this deal is $313,500.00.  Bridgeline needs someone at ENA to approve this ticket so the Bridgeline system will be able to generate and invoice.

Would this have any impact on our Bridgeline negotiations or our legal rights if I approve this ticket?  According to Cyndie in Global Contracts, this will not create a confirmation.


Steve -

Simply FYI - Just wanted to send you the cover summary of the confidential
Resource Management Update Report sent to Cindy and Drew each week.  Thanks
for all your support!

-Sarah A. Davis
Ext. 3-5328


Start Date: 4/23/01; HourAhead hour: 7;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042307.txt


Oops!  June 6th is a Wednesday, not a Tuesday!  Many thanks to Nidia Mendoza
for calling this to my attention!

----- Forwarded by Becky Spencer/HOU/ECT on 04/04/2001 04:40 PM -----

	Becky Spencer
	04/04/2001 10:02 AM

		 To: Nidia Mendoza/Enron@EnronXGate, Susan Bailey/HOU/ECT@ECT, Samantha
Boyd/NA/Enron@Enron, Robert Bruce/NA/Enron@Enron, Mary Cook/HOU/ECT@ECT,
Brent Hendry/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT, Anne C
Koehler/HOU/ECT@ECT, Stephanie Panus/NA/Enron@Enron, Sara
Shackleton/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT,
Frank Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cheryl Nelson/NA/Enron@Enron, Mark
Greenberg/NA/Enron@ENRON, Tanya Rohauer/Enron@EnronXGate, Paul
Radous/Enron@EnronXGate, Wendy Conwell/NA/Enron@Enron, Edward
Sacks/Enron@EnronXGate, Brant Reves/Enron@EnronXGate, Veronica
Espinoza/Enron@EnronXGate, Rudwell Johnson/Enron@EnronXGate, Ken
Curry/Enron@EnronXGate, Aparna Rajaram/Enron@EnronXGate, Jason R
Williams/Enron@EnronXGate, Russell Diamond/Enron@EnronXGate, Darren
Vanek/Enron@EnronXGate, Carol North/Enron@EnronXGate, Wendi
LeBrocq/Enron@EnronXGate, Mark Powell/CAL/ECT@ECT, Tony Pryor/ET&S/Enron@ENRON
		 cc: MaryHelen Martinez/NA/Enron@Enron, Janet Cones/Enron@EnronXGate, Keegan
Farrell/NA/Enron@Enron, Taffy Milligan/HOU/ECT@ECT, Esmeralda
Gonzalez/ENRON@enronXgate, Carolyn George/Corp/Enron@ENRON, Holly
Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kaye Ellis/HOU/ECT@ECT, Suzanne
Adams/HOU/ECT@ECT, Nita Garcia/NA/Enron@Enron, (bcc: Becky Spencer/HOU/ECT)
		 Subject: Upcoming Dates for Credit/Legal Seminar (Revised)

Please note new dates times and locations!

We will be continuing the Credit/Legal seminars on the following schedule.
Please add these dates to your calendars:

Session 3:  The Credit Support Annex and Paragraph 13
April 4 (Wednesday)
2:00 - 3:30 p.m.
EB49c3

Session 4:  The Credit Support Annex and Paragraph 13 (continued)
April 18 (Wednesday)
2:00 - 3:30 p.m.
EB49c3

Session 5:  The Credit Worksheet
May 9 (Wednesday)
2:00 - 3:30 p.m.
EB49c1

Session 6:  Letters of Credit, Guaranties and Equity Structures
May 23 (Wednesday)
2:00 - 3:30 p.m.
EB49c4

Session 7:  Higher Risk Counterparties, Early Termination, Master Netting
Issues and Canadian Issues
June 6 (Tuesday)
2:00 - 3:30 p.m.
EB49c4

Session 8:  (if needed)
June 20
2:00 - 3:30 p.m.
EB49c3

Session 9:  (if needed)
July 11
2:00-3:30 p.m.
EB49c3

A reminder e-mail will be sent a day or two before each session.  Due to the
amount of information discussed and time constraints, please be aware that
the topics on these dates may run over to the following sessions.


Could you please extend the guest id that expired for FTEnergy, the publisher
of gas daily.  Please call me
when this is completed.  We need to have these folks view our daily indices.

Thanks,

Kevin Ruscitti
x3-6320


Greetings from Amazon.com.

We thought you'd like to know that we shipped your items today,
and that this completes your order.

Thanks for shopping at Amazon.com, and we hope to see you again soon.

The following items were included in this shipment:
---------------------------------------------------------------------
Qty      Item                           Price  Shipped  Subtotal
---------------------------------------------------------------------
1        Kodak DC3400 Zoom Digital Came $499.99  1      $499.99

---------------------------------------------------------------------
               Item Subtotal:  $499.99
         Shipping & Handling:  $20.96
                       Total:  $520.95
--------------------------------------------------------------------

This shipment was sent to:

 Eric P. Bass
 1400 Smith St.
 Houston TX 77002

via UPS Next Day Saver (1 business day).

For your reference, the number you can use to track your package is
1Z81E74W2925751384.  You can refer to our web site's Help page or:

http://www.amazon.com/exec/obidos/subst/tracking.html

to retrieve current tracking information.  Please note that tracking
information may not be available immediately.

Please note that a signature may be required for the delivery of any package
where the value of the contents is greater than $400.  If no one will be
available to sign for this package, you may wish to make alternate delivery
arrangements with the carrier.

You can view or manage your orders online by visiting Your Account at
http://www.amazon.com/your-account. You can also reach Your Account by
clicking the link in the top right corner of any page on our Web site.

If you still need to get in touch with us about your order, send an
e-mail message to orders@amazon.com.

On your next visit to our Web site, come see what's New for You by
clicking the link on the right-hand side of our home page, or by
visiting this URL:

http://www.amazon.com/exec/obidos/subst/recs/new-for-you/new-for-you.html/ref=
cs_ae_nfy

We've selected an assortment of new releases, recommendations, and
informative articles that we think would appeal to you.

Thank you for shopping at Amazon.com.

---------------------------------------------------------------------
Amazon.com
Earth's Biggest Selection
orders@amazon.com             http://www.amazon.com/
---------------------------------------------------------------------


We have this vehicle in stock at this time.  WE also have several others and
access to more.  Due to some factory incentives that are in effect we are
able to offer you some really good deals.  Please call me at 800-833-8841 so
we can discuss this.  I am Jerry Bosley and will be looking forward to your
call.. thanks again..

>From: Mr Kevin  Hyatt <dcx.19976655-2360@gaqleads.com>
>To: paulre@hotmail.com
>Subject: New Inventory Vehicle Request (Liberty Dayton
>Chrysler-Plymouth-Dodge-Jeep-Eagle, Inc)
>Date: Wed, 24 Oct 2001 13:48:39 -0700
>
>
>
>Mr. Kevin Hyatt has sent you a message from your FiveStar Dealer Website.
>The Following is the information from that form:
>
>
>
>
>Title: Mr.
>FirstName: Kevin
>MiddleInitial:
>LastName: Hyatt
>
>Address: 18715 Hickory Ashe Dr
>City: Humble
>State: TX
>Zip: 77346
>
>Purchase Time: Within the next month.
>Purchase Method: Finance
>
>Message: Would prefer the 4-door Ram 1500 or 2500 SLT with 4 wheel drive
>
>Customer was inquiring about the following vehicle:
>Make: Dodge
>Model: Ram 1500
>Year: 2002
>Trim: Quad 4 Dr. Extended Cab
>VIN: 1D7HU18Z72J123510
>Stock Number:
>
>Prices Displayed on Website:
>MSRP: $35,820
>
>Miles:
>Exterior Color: Bright White Clear Coat
>Interior Color:
>
>Trade-in Make:
>Trade-in Model:
>Trade-in Year:
>Trade-in Miles:
>Certified: Yes
>
>
>
>
>Message_ID: 19976655-2360
>Email: dcx.19976655-2360@gaqleads.com

_________________________________________________________________
Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp


It should. I am not sure what game they are playing. Maybe it allows them to
argue their block forward positions should not be liquidated because PG&E is
not in default to the PX.

	Tim Belden
	02/02/2001 08:54 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: CAISO Notice - Letter from PG&E Regarding Payment for November, 2
000 Invoice

letter from pg&e to the iso.  shouldn't this letter go to the px who in turn
would send it to the iso?
---------------------- Forwarded by Tim Belden/HOU/ECT on 02/02/2001 05:55 AM
---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Woertz, Byron" <BWoertz@caiso.com>
02/01/2001 02:18 PM

To: ISO Market Participants
<IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=ISO+20MARKET+20PARTI
CIPANTS@caiso.com>
cc:
Subject: CAISO Notice - Letter from PG&E Regarding Payment for November, 2
000 Invoice

  ISO Market Participants:
  On January 31, 2001, the CEO of the California ISO received
by fax a letter from Joseph C. Henri, Director of Utility Electric Portfolio
Management at Pacific Gas and Electric Co. (PG&E). Mr. Henri stated that
PG&E was providing notice pursuant to Sections 15.1 and 15.2 of the ISO
Tariff that "Uncontrollable Forces prevent PG&E from performing all of its
obligations under the ISO Tariff."  Mr. Henri's letter identified
"government regulations and market conditions" as "forces beyond PG&E's
reasonable control."  In addition, Mr. Henri stated that the temporary
electric rate increase ordered by the California Public Utilities Commission
on January 4, 2001 was "an amount far below that necessary to enable PG&E to
generate sufficient cash to pay its ongoing procurement bills."
  Mr. Henri continued by stating that "PG&E...lacks the funds
to pay in full its bill from the Independent System Operator for November
power purchases, due on February 1, 2001."   Further, Mr. Henri stated that
"because PG&E's inability to make full payment is due to Uncontrollable
Forces, the ISO Tariff precludes the Independent Service (sic.) Operator
from imposing any sanctions against PG&E."
  Mr. Henri concluded by stating that PG&E's efforts to secure
relief from these circumstances continue and that PG&E will inform the ISO
as soon as it is able to resume making full payment for its wholesale power
purchases.
  At present, the California ISO neither accepts nor rejects
the claims made in Mr. Henri's letter. The purpose of this market notice is
to fully inform Market Participants who may have claims directly against
PG&E based on PG&E's failure to pay in full ISO invoices.

  Byron Woertz
  Director, Client Relations


Will copy over as soon as I can. Edmund

 -----Original Message-----
From: 	Panus, Stephanie
Sent:	22 October 2001 16:53
To:	O'Connell, Denis; Cooper, Edmund
Subject:	FW: RVI Guaranty Co. Ltd.
Importance:	High

Please see below.

 -----Original Message-----
From: 	Panus, Stephanie
Sent:	Friday, October 12, 2001 4:11 PM
To:	O'Connell, Denis
Cc:	Cooper, Edmund
Subject:	RE: RVI Guaranty Co. Ltd.
Importance:	High

Has anyone been able to locate a copy of this agreement?

Stephanie Panus
Senior Legal Specialist
Enron Wholesale Services
1400 Smith Street, EB3803C
Houston, Texas  77002
ph:  713.345.3249
fax:  713.646.3490
email:  stephanie.panus@enron.com

 -----Original Message-----
From: 	O'Connell, Denis
Sent:	Friday, September 21, 2001 3:14 AM
To:	Panus, Stephanie
Cc:	Cooper, Edmund
Subject:	RE: RVI Guaranty Co. Ltd.

Ed  -can you have someone look after this?

Tks,

Denis

Denis O''Connell
Enron Credit Limited
Enron House
40 Grosvenor Place
London SW1X 7EN
Tel: +442077834828
Fx: +442077839238
Mob: +447733001094

 -----Original Message-----
From: 	Panus, Stephanie
Sent:	20 September 2001 20:35
To:	O'Connell, Denis
Subject:	RVI Guaranty Co. Ltd.

Denis,
Can you send us copies of the documents (Master Agreement and any related documents) related to the ENA / R.V.I. Guaranty Co. Ltd. ISDA Master Agreement.  Since this Agreement is for ENA, we need to have a copy of the documents on file here.

Thanks.  Please call me if you have any questions.

Stephanie Panus
Senior Legal Specialist
Enron Wholesale Services
1400 Smith Street, EB3803C
Houston, Texas  77002
ph:  713.345.3249
fax:  713.646.3490
email:  stephanie.panus@enron.com