Attached is an edited version of the letter.  The file is entitled "DBSR
Redline of ltr to governor--options llist.doc".  It is not a real redline,
as we use Word Perfect and I do not know how to redline in Word.  Instead,
deletions are struck through, and additions are in bold font.  (The original
also has some bold font, but mostly in the headings; I think the additions
will be readily identified.)

I will be at the meeting but wanted to send this out ahead of time for
review by those who have the chance to review before the meeting.

We may have some subsantive issues in a couple of areas that I would rather
discuss in person; I am working to determine whether they really exist.

Dan Carroll

-----Original Message-----
From: Delaney Hunter [mailto:dhunter@smithandkempton.com]
Sent: Monday, August 21, 2000 3:20 PM
To: Aaron Thomas (E-mail); 'Allan Lippincott'; Ann Cohn (E-mail); 'Ann
Watson'; Anna Ferrera (E-mail); 'Art Carter'; 'assistant for John
Fielder'; Barbara Barkovich (E-mail); 'Becky Kilbourne'; Bill Booth
(E-mail); 'Bill Dombrowski'; Bill Keese (E-mail); Bill Zobel (E-mail);
'Bob Foster'; 'Bob Houston'; Carolyn McIntyre (E-mail); Carolyn
Veal-Hunter (E-mail); Catherine Hackney (E-mail); Charles Bacchi
(E-mail); 'Craig Brown'; Dan Carroll (E-mail); 'Denice Cazalet'; Dennis
Price (E-mail); 'Denny Samuel'; Dorothy Rothrock (E-mail); 'Ed Yates';
Eloy Garcia (E-mail); Evelyn Elsesser (E-mail); Gary Heath (E-mail);
'Gordon McDonald'; 'Jack Flanigan'; Jack Gualco (E-mail); 'Jack
Stewart'; 'James Boyd'; Jan Smutny-Jones (E-mail); Jeff Dasovich
(E-mail); 'Jerry Jordan'; Jim Cassie (E-mail); Jim Groniger (E-mail);
Joe Lyons (E-mail); John Bridges (E-mail); 'John Fielder'; John
Fistolera (E-mail); John Rozsa (E-mail); John White (E-mail); 'Joseph
Alamo'; 'Julia Wright'; Karen Edson (E-mail); Karen Jarrell (E-mail);
Karen Koyano (E-mail); 'Karen Lindh'; Karen Mills (E-mail); 'Kari
Harteloo'; 'Kathy Brandenburg'; Kay Grosulak (E-mail); Keith McCrea
(E-mail); Kevin Lynch (E-mail); Kevin Smith (E-mail); Lawrence Lingbloom
(E-mail); Lenny Goldberg (E-mail); Louis Szablya (E-mail); Marc Joseph
(E-mail); Marwan Masri (E-mail); Mary McDonald (E-mail); Michael
Alcantar (E-mail); Mike Florio (E-mail); 'Mike Kahl'; Mona Petrochko
(E-mail); Nettie Hoge (E-mail); Pete Conaty (E-mail); 'Phil Nails'; Phil
Stohr (E-mail); Ralph Cavanagh (E-mail); Randy Chinn (E-mail); Ray
Thompson (E-mail); 'Rick Counihan'; Robert Berry (E-mail); Robin Larson
(E-mail); Sheryl Carter (E-mail); Steve Pike (E-mail); Stu Wilson
(E-mail); 'Sue Mara'; Susan Reeder (E-mail); Terry Winter (E-mail);
Thomas Dinkel (E-mail); Tim Schmelzer (E-mail); 'Tommy Ross'; 'Tony
Braun'; Victoria Schaefer (E-mail)
Subject: Draft letter to Governor Davis

Based on a reading of various official reports and our discussion last week,
the attached draft letter attempts to capture a consensus on immediate term
strategies for dealing with the overall electrical energy situation. We
relied upon the ISO Action Plan for plans for generation and transmission.
We will look forward to your input at tomorrow's meeting as to whether these
items are on target or not. If for some reason you and/or your organization
can not attend our meeting please call, fax or email us your comments and
suggestions as soon as possible.

Thank you for your attention to this matter.

As a reminder we will be meeting tomorrow at 1:30 at the California
Chamber -- 1215 K Street, 14th Floor.

----------------------------------------------------------------------
CONFIDENTIALITY NOTICE:  This communication and any accompanying document(s)
are confidential and privileged.  They are intended for the sole use of the
addressee.  If you receive this transmission in error, you are advised that
any disclosure, copying, distribution, or the taking of any action in
reliance upon the communication is strictly prohibited.  Moreover, any such
inadvertent disclosure shall not compromise or waive the attorney-client
privilege as to this communication or otherwise.  If you have received this
communication in error, please contact our IS Department at its Internet
address (is@dbsr.com), or by telephone at (916)441-0131. Thank you.

======================================================================

 - DBSR Redline of ltr to governor--options list.doc


We would have been around $.39 to $.42.

	From:  John M Singer @ ENRON                           05/03/2001 09:30 AM

To: Chris Germany/HOU/ECT@ECT
cc:
Subject: TETCO M2

Dominion was able to buy TETCO M2 delivered for NYMEX plus 32 cents.


The source is now LOLO.  Everyone knows.

Please call as described below.

C
---------------------- Forwarded by Cara Semperger/PDX/ECT on 11/13/2000
04:27 PM ---------------------------

Cara Semperger
11/13/2000 03:59 PM
To: Portland Shift, Donald Robinson/PDX/ECT@ECT, John M Forney/HOU/ECT@ECT
cc: Diana Scholtes/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT
Subject: Curtailments at Lagrande** 2 schedules going real time for 11/14**

Mid C LLH,   we have 2 schedules  that are going real time due to
curtailments at Lagrande

10 MW all LLH,  IPC@ AMPS-EPMI-FCPD(T)BPA(T)HOTSPRINGS/JD O#
10043-EPMI-PGE(T)JD/MALIN O#GF-EPMI-PWX-PWXSC@NP15

15 MW all LLH,  IPC@ AMPS-EPMI-GHPD(T)BPA(T)HOTSPRINGS/JD O#
96083-EPMI-PGE(T)JD/MALIN O#GF-EPMI-PWX-PWXSC@NP15

 IPC knows, PGE trans knows,  PRM said they would call it in to BPA, and PWX
is going to call it in to CISO

Please keep an eye on this and double check with BPA and PGE tranny to
confirm when the time comes.

Thanks,

Cara


Dan--

My mistake....I told Coleman that the Notice of Contract in Exhibit E was
"for exhibit only" (therefore, don't sign) and that we would be sending them
an original of this form for their signature asap.

Talk to you soon.

Dan


Frank:

1.  Midland Cogeneration Venture Limited Partnership is not authorized to
trade any U.S. power products.  (We are currently in litigation with Midland
and are not trading with this CP.)

2.  Otter Tail Power Company -- Enron Sales only pursuant to on-line GTCs.
We do not have any trading agreements with this CP so it is not necessary to
send an override letter.

3.  Florida Power Corporation and Carolina Power & Light Company -- Enron
Sales only pursuant to on-line GTCs.  Each of these CPs should receive an
override letter in the form attached below.

Call me with any questions at *36121.

Leslie


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

From:  </O=ENRON/OU=NA/CN=RECIPIENTS/CN=TJONES>
To: Allario, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jallari>, Bridges, Michael </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mbridge2>, Carter, Carl </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ccarter4>, Diamond, Daniel </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Ddiamon>, Gros, Thomas D. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Tgros>, Mesquita, Ross </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rmesquit>, Pacheco, Leonardo </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Lpacheco>, Pavetto, John <John.Pavetto@ENRON.com>, Richter, Brad </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Brichte>, Shults, Bob </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Rshults>
CC: Greenberg, Mark </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Mgreenbe>, Koehler, Anne C. </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Akoehle>
Date: Thursday, November 15, 2001 11:09:30 GMT
Subject:

Attached please find a current list of the Networks, EnronOnline and CommodityLogic executed and draft Confidentiality Agreements for your review.


Next Tuesday, December 19th, the 50th floor will be open to all employees for
the Annual Holiday Open House from 3:00pm until 5:00pm.  Similar to last
year, we will provide food, beverage and musical entertainment and will also
decorate eight executive offices to reflect the Festival of Lights.  Our goal
is to expose our employees to different celebrations around the world and
simultaneously demystify the 50th floor.

For your reference, the offices that will be decorated are listed below:
St. Lucia - Ken Lay
Kwaanza - Jeff Skilling
Los Posadas - Rob Walls
Chinese New Year - Cindy Olson
Hanukkah - Andy Fastow
Ramadan - Rick Buy
Devali - Rick Causey
Christmas - Jim Derrick

We would welcome Executive Committee members to volunteer to greet employees
in the 50th floor elevator lobby or serve punch.   Time slots are available
in 15-minute increments from 3:00pm to 5:00pm.  Please reply to this e-mail
if you would like to volunteer for this event and I will provide additional
information for your reference at that time.

This annual affair is an employee favorite and you may contact me with any
comments or questions.

Charla Reese
Manager, Community Relations
x35202


Raj:  CAVEAT:  I never heard back from Tanya about whether the CSFB confirmation would have a carve-out for margining pursuant to the master agreement.  Bob was going to send me the format he drafted for  the prior CSFB deal but which was never executed so that I could incorporate that language.  Tanya may agree to allow this trade to margin under the agreement just like the confirm which terminated 9/12/01.

Sara

Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX  77002
Ph:  (713) 853-5620
Fax: (713) 646-3490

 -----Original Message-----
From: 	Jamadagni, Rajaram
Sent:	Wednesday, September 19, 2001 9:23 AM
To:	Bruce, Robert; Shackleton, Sara
Cc:	Kirby, Treasa
Subject:	Oil Prepay Rollover

Sara/ Bob,

Further to my discussions with Sara yesterday evening, and in the absence of any email from both of you to the contrary, I conclude that the confirms as they stand now should be OK from a legal perspective, subject to the credit approval of the entities. As I mentioned yesterday, Treasa's contact at CSFB here is trying to retain CSFB International as the counter-party as was the case for the 2000 transaction earlier.

Thanks very much for your help.

Regards

Rajaram Jamadagni


I guess I still need your market descriptions for LPG, Oil & Oil Products and
Plastics and Petrochem.  Will I have them by the end of the day?


Hi Everyone,

I'm very excited to announce that Meg St. John has joined us in the Haas
Evening MBA program office as Assistant Director of the program.  Meg will
be working with Julie Ito and me in the admissions and marketing area, and
again with me in the student services area.  Meg earned her MBA at the
University of Washington (who we play next Saturday!), and most recently
she worked at the Federal Reserve Bank as a marketing research analyst, so
she brings a wonderfully strong set of skills to the evening office.

If you get a chance, please stop by and say hello to Meg!

Go Bears,

Diane


Sally, I met with Jeff Shankman, Hunter Shively, Fletch Sturm and Laura Luce
yesterday re: Chicago resources. Everyone is in agreement that we need to
assign the overall Chicago office support activities to one individual within
your group who will be completely responsible for activities relative to deal
booking, DPR accuracy, P/L accuracy, transfer pricing accuracy, accounting,
scheduling, (EOL activity support?), etc. This will be a full-time job I
think. Could we make this happen asap. Let's get together and discuss if need
be. Thanks Sally!


CALENDAR ENTRY:	APPOINTMENT

Description:
	Stacey in Portland

Date:		11/9/2000
Time:		8:05 AM - 6:59 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


---------------------- Forwarded by Eric Bass/HOU/ECT on 03/22/2001 04:06 PM
---------------------------

"Amir Cyrus Ahanchian" <acahanchian@zdnetonebox.com> on 03/02/2001 10:43:08 PM
To: eric.bass@enron.com, reeder@mail.utexas.edu, bird3397@yahoo.com,
dandelionwine1@hotmail.com, dganc@yahoo.com, tyrell.harrison@enron.com,
brian.hoskins@enron.com, jefflerner@aol.com, btmazumdar@zdnetonebox.com,
moranito@hotmail.com, nghiatn@hotmail.com, Suresh_vasan@enron.net,
jwiseman@newregency.com
cc:
Subject: BE CAREFUL IF AT WORK!! Guaranteed, the best email ever!

--
Amir Cyrus Ahanchian
acahanchian@zdnetonebox.com - email
(512) 682-6996 ext. 1087 - voicemail/fax

___________________________________________________________________
To get your own FREE ZDNet Onebox - FREE voicemail, email, and fax,
all in one place - sign up today at http://www.zdnetonebox.com

Return-Path: <jpcary96@hotmail.com>
Received: from hotmail.com ([216.32.180.196]) by mta08.onebox.com
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2001 23:22:42 GMT
X-Originating-IP: [204.27.156.147]
From: "Patrick Cary" <jpcary96@hotmail.com>
To: acahanchian@zdnetonebox.com, bwfox_us@yahoo.com, rowdy_1999@hotmail.com,
orenmax@hotmail.com, jared_haun@yahoo.com
Subject: Fwd: CAREFUL IF AT WORK!! best email ever!
Date: Thu, 01 Mar 2001 17:22:42 -0600
Mime-Version: 1.0
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Message-ID: <LAW2-F272VhEUsebmsp0000c2d0@hotmail.com>
X-OriginalArrivalTime: 01 Mar 2001 23:22:46.0106 (UTC)
FILETIME=[85E593A0:01C0A2A6]

What's up guys?  Sorry for this mass e-mail, but you have got to see this
... be careful if you are viewing this at work or anywhere public.  I know
there are a few of you I haven't been in touch with for a while, but please
forgive me as I've been tied up in a shithole in Paducah, KY.  I hope all is
well with you.  Enjoy this e-mail.  BTW - Jared, this is a REAL forward ...
send me more of this stuff instead of the other crap that comes my way!
Adios,
Patrick

If only I knew who these girls were!

----Original Message Follows----
From: "alan armstrong" <astronga@hotmail.com>
Reply-To: KappaKappaDelta@yahoogroups.com
To: kappakappadelta@yahoogroups.com
Subject: [KappaKappaDelta] best email ever
Date: Wed, 28 Feb 2001 23:07:50

 >
 >
 >
 >>
 >>Note: forwarded message attached.
 >>
 >>
 >>__________________________________________________
 >>Do You Yahoo!?
 >>Get personalized email addresses from Yahoo! Mail - only $35
 >>a year!  http://personal.mail.yahoo.com/

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

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

X-Apparently-To: samueljking_2000@yahoo.com via web9007
X-Track: 1: 40
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SMTP; 16 Feb 2001 23:37:30 -0800 (PST)
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Message-ID: <001201c098b5$16c0a3c0$6501a8c0@austin.rr.com>
From: "Brian Starnes" <starnes@austin.rr.com>
To: "Sam King" <samueljking_2000@yahoo.com>
Subject: Fw: game on
Date: Sat, 17 Feb 2001 01:40:09 -0600
MIME-Version: 1.0
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strippers r fun
?
----- Original Message -----
From: brian.starnes@amd.com
To: starnes@austin.rr.com
Sent: Tuesday, February 13, 2001 11:47 AM
Subject: FW: game on

?
-----Original Message-----
From: TEA Lee, Lloyd [mailto:llee@aus.telusa.com]
Sent:  Tuesday, February 13, 2001 11:15 AM
To: Starnes, Brian; Cary Yarosh;  Chris Schild; Darwin; David; Eric Bergold;
Robinson, Jeffrey; Jesse; John White;  Mark Helton; Matt; Michael Arn;
Michael Gunterman; Michael Pham; Todd  work
Subject: game on

best just forward this one to the  crib....
<<game1.jpg>> <<game2.jpg>> <<game3.jpg>> <<game4.jpg>> <<game5.jpg>>
<<game6.jpg>> <<game7.jpg>> <<game8.jpg>> <<game9.jpg>> <<ggame10.jpg>>
<<ggame11.jpg>>

 - game1.jpg
 - game2.jpg
 - game3.jpg
 - game4.jpg
 - game5.jpg
 - game6.jpg
 - game7.jpg
 - game8.jpg
 - game9.jpg
 - ggame10.jpg
 - ggame11.jpg


When you get a second, call me and let me know what is happening with this
investigation. Also---are you going to Wyoming next week.


FYI

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 02/17/2000
02:52 PM ---------------------------

Vince J Kaminski
02/17/2000 11:25 AM
To: gappy@stanford.edu
cc: Vince J Kaminski/HOU/ECT@ECT, Ravi Thuraisingham/Enron
Communications@Enron Communications
Subject: Re: Visiting Enron

Giuseppe,

Thanks a lot. I would appreciate if you could set up a meeting with Prof.
Bambos.
We talked to him during our last visit and we would like to follow up with
some
specific proposals regarding research projects Enron could sponsor.

Vince

Giuseppe Andrea Paleologo <gappy@stanford.edu> on 02/14/2000 03:20:52 PM
Please respond to gappy@stanford.edu
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Visiting Enron

Dr. Kaminski, I would like to thank you very much for taking care of Amy and
me
during our trip to Houston. What I saw at Enron Communication was nothing
short
of revolutionary. More than that, I was impressed with the drive of the
people,
their kindness, and their proficiency. I look forward to meeting you again in
Stanford during the last weekend of February. I will send you an email next
week, so that we can arrange a meeting between you and Prof. Bambos.
All the best wishes,

Giuseppe

--
::Giuseppe A Paleologo::                  http://www.stanford.edu/~gappy
________________________________________________________________________
"What a waste it is to lose one's mind. Or not to have a mind is being
very wasteful. How true that is."

    - Vice President Dan Quayle winning friends while
      speaking to the United Negro College Fund, 5/9/89 -


We are not done.  On Friday when we were prepared to sign, Black Hills Energy Capital said they needed until today to get a signature from their parent, Black Hills Corp.  At noon today they said that the signature was on its way.  At 4:00PM we heard that they will issue a L/C instead of the Corp guarantee.  The L/C approach is fine, but I am concerned with this flaky behavior.

Our plan is to sign the purchase and sale with Black Hills Energy Capital tonight/tomorrow morning.  They would have the obligation to deliver either a gurantee or an L/C for $15MM by Thursday.  If not, we can terminate at any time prior to close of business Monday.  I will update when something changes.

Chris Calger
503-464-3735


It sounds great...we'll figure out a good time then.  I've really missed you
guys these last few weeks.  I've been completely MIA.


This is hilarious!  I am laughing outloud!!

"Cindy White" <cwhite@viviance.com> on 12/07/2000 09:41:23 AM
To: "Sally" <sally.beck@enron.com>, "Cara White" <CWhite@texas.usta.com>
cc:
Subject: FW: Christmas cake recipe

?
Sisters.....this  one made me laugh out loud....more than  once....?

Ingredients:
1 cup of water
1 tsp baking soda
1 cup  of sugar
1 tsp salt
1 cup of brown sugar
lemon juice
4 large  eggs
nuts
1 bottle Vodka
2 cups of dried fruit

Sample the vodka  to check quality. Take a large bowl, check the vodka again.
To be sure it is  the highest quality, pour one level cup and drink.

Repeat.

Turn on  the electric mixer. Beat one cup of butter in a large fluffy bowl.
Add one  teaspoon of sugar. Beat again. At this point it's best to make sure
the vodka is  still OK.

Try another cup .... just in case. Turn off the  mixerer.

Break 2 leggs and add to the bowl and chuck in the cup of dried  fruit.

Pick fruit off floor.

Mix on the turner.

If the  fried druit gets stuck in the beaterers pry it loose with a
sdrewscriver.

Sample the vodka to check for tonsisticity.

Next,  sift two cups of salt. Or something. Who giveshz a shit.

Check the  vodka.

Now shift the lemon juice and strain your nuts.

Add one  table.

Add a spoon of sugar, or somefink. Whatever you can  find.

Greash the oven and piss in the fridge.

Turn the cake tin  360 degrees and try not to fall over.

Don't forget to beat off the  turner.

Finally, throw the bowl through the window, finish the vodka and  kick the
cat.

Fall into bed.

CHERRY MISTMAS!

Andrew Whitehead
School of Civil Engineering
University of  Nottingham
University Park
Nottingham
NG7 2RD

Tel :- +44 (0)115 9515151 ext.8062
Email :- andrew.whitehead@nottingham.ac.uk
web  :- www.nottingham.ac.uk/~evzasw

?


I know of no reason why we could not deliver this opinion.

	Angela Davis@ENRON
	03/20/2001 08:00 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: Opinions

In connection with a series of FASB 125 transactions, ENA will be entering
into several swap transactions.  Also in connection therewith, Mark H. will
be asked to deliver an opinion that there is no litigation which could impair
ENA's ability to perform under the swaps.  Do you know of any reason why we
could not deliver this opinion?  The opinion will be dated sometime on or
prior to quarter end.

Angela D. Davis
Enron North America Corp.
1400 Smith, Suite 3817
Houston, Texas 77002
Tele. (713) 345-8347
Fax:  (713) 646-3393
e-mail:  angela.davis@enron.com


Please forward your *anticipated* schedules for next week to
me at your earliest convenience.

Thanks in advance for your assistance.

Joseph Alamo
Sr. Administrative Assistant
Government Affairs - The Americas
San Francisco CA

---------------------- Forwarded by Joseph Alamo/NA/Enron on 05/11/2001 11:41
AM ---------------------------

Susan J Mara
05/11/2001 11:30 AM
To: Joseph Alamo/NA/Enron@Enron
cc:

Subject: schedule

As I know it and subject to change:

Mon:   Office
Tues:   Office
Wed:    AReM strategy meeting at Shell in SF 9-4:30
Th:  Office
Fri: Office

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854


----- Forwarded by Richard B Sanders/HOU/ECT on 02/01/2001 02:51 PM -----

	Steve C Hall
	02/01/2001 02:19 PM

		 To: Mark E Haedicke/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Mary
Hain/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT,
jklauber@llgm.com
		 cc: robin_tompkins@pgn.com
		 Subject: CalPX Termination Letter


TCPL intends to seek an interim 2001 Eastern Zone toll of CDN$1.1462/GJ
starting January 1/01.   This is a 13.6% increase.  They are saying to avoid
protracted litigation over interim tolls they are only seeking an increase to
reflect non-renewals and current costs, ROE, capital structure and
depreciation .  This is not what they intend to seek as a final toll which
will likely be significantly higher.

In order to ensure TCPL's position is clear, Garry Mihaichuk, TCPL Exec VP
for Operations will be attending tomorrow afternoon's briefing on their
upcoming toll application and pitch their argument to continue negotiations.

Details of their proposed interim tolls are attached.

Kevin


Dear All:

  Here is a summary of how volatility curves are used in portcalc option evaluation:

Rule:

1.  IF it is monthly option OR if the expiration date is explicitly specified in the deal entry,
     Then use monthly volatility

2.  IF it is one of the following portfolios: EAST, ENAWEATHER, SIMTRADE, ENACCO, PLANT, SVCE AND
         it is one of the following instrument type: Option, Spread Option, Basis Option, Index Option
    Then
         use daily volatility for daily option, use monthly curve for monthly option

   Otherwise
      If it is current month,  use daily volatility
      Otherwise use blend volatility of monthly and daily(intra-month) curves.

3. For Asian strips, basket volatility is used based on monthly weekday and weekend volatility curves.

I'd like to point out that as a result of the above rules,

1. for transmission deals, which does not explicitly specify expiration frequency or expiration date, for both East and West portfolios, daily volatility curve is used for current month, blend volatility is used for forward months.

2. Retail East and Retail West behave the same as West portfolio.

Please let us know if you need further clarification on how volatility curves are used in portcalc and advice us if any changes should be made.

Thank you very much,

- Zhiyun


When: Thursday, July 26, 2001 9:00 AM-10:00 AM (GMT-06:00) Central Time (US & Canada).
Where: EB3143B

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


The NYISO is reserving hours beginning 7:00 and 14:00 in the February 4,
2002 Real-Time Market.

In addition, the NYISO is reserving the following hours in the February 4,
2002 Hour-Ahead Locational Reserve Market: 14:00 and 15:00.

Prices in the February 5, 2002 Day-Ahead Market are correct.

This e-mail information is a copy of the official posting which can be
found at the following address of our website:
http://mis.nyiso.com/public/htm/OperMessages/CurrentOperMessages.htm#mm

---
You are currently subscribed to nyiso_tie as: paul.d.thomas@enron.com
To unsubscribe send a blank email to leave-nyiso_tie-629431H@lyris.nyiso.com


fyi..
---------------------- Forwarded by Sheila Glover/HOU/ECT on 11/20/2000 08:07
AM ---------------------------

	From:  Sheila Glover                           11/17/2000 12:16 PM

To: Shona Wilson/NA/Enron@Enron, Chris Abel/HOU/ECT@ECT
cc: Tom Doukas/NA/Enron@ENRON, Markus Fiala/LON/ECT@ECT, Jeff
Kinneman/HOU/ECT@ECT, Paul Pizzolato/HOU/ECT@ECT, Richard Sage/LON/ECT@ECT,
Bryan Seyfried/LON/ECT@ECT, David A Wall/Risk Mgmt/LON/ECT@ECT
Subject: Debt Trading Daily Loss violation November 16, 2000


Kay:

We told Paul Hastings that we would release our Guaranty and the Opinion at
closing on Wednesday.  They were okay with that.  If that's a problem, I can
fax the guaranty and opinion (once I have it signed), with a letter from me
saying you can't release it until funding...

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Tuesday, May 01, 2001 9:59 AM
To: lee.johnson@ss.ps.ge.com; kent.shoemaker@ae.ge.com
Cc: Jake.Thomas@enron.com; Stephen.Thome@enron.com
Subject: Delta/Salmon

Good morning.

In order to finish up Delta/Salmon tomorrow, please note we need the
following today:

GE parent guaranty
LOC (so that full payment can be made to GE tomorrow)
Opinion of counsel

And once funds are received by GE, we need the receipt of funds letter.

Lee, I haven't heard back from the Portland gang to find out if the LV Co
Gen contract is ready.  Maybe Jake can help shake that loose.

Thanks,

Kay


Agreed.

	Dave Samuels
	09/07/2000 08:07 AM

		 To: Justin Boyd/LON/ECT@ECT, Mark Taylor/HOU/ECT@ECT
		 cc: Victor Browner/HOU/ECT@ECT, Rahil Jafry/HOU/ECT@ECT
		 Subject: Enron Online Game

I am not concerned about the issues below because a) is no longer a feature
of the game and b) we are only showing a small portion of the flags, and this
seems to be fairly academic.

Please let me know if you feel these are issues that need to be addressed.

thanks
Dave

---------------------- Forwarded by Dave Samuels/HOU/ECT on 09/07/2000 08:05
AM ---------------------------

"Murton, Rachel" <rachel.murton@linklaters.com> on 09/07/2000 03:57:51 AM
To: "'Leslie.Hansen@Enron.com'" <Leslie.Hansen@enron.com>,
"'Justin.Boyd@Enron.com'" <Justin.Boyd@enron.com>, "'Dave.Samuels@Enron.com'"
<Dave.Samuels@enron.com>
cc:
Subject: Enron Online Game

Dear All

Two issues/questions have been brought to my attention.  These relate to the
demo of the game I was sent a while back (i.e. a "Five Flags Down Under"
demo) and may therefore have been superceded (or the impact lessened) by
events.

a)  Under the "edit groups" section in the demo contetstants are told  "want
to have your own private Unamed Contest for friends, colleagues or
co-workers?  you can! it is simply a matter of choosing a group name,
entering a group password and telling your fellow contestants to go to this
page to join etc"

I assume that since fellow group members need to register, the "friends,
colleagues and co-workers" are all actually employees of Enron customers
anyway i.e. they can register in their own right if they want to?  Is this
the case?  If it is the case, perhaps it should be made a bit clearer that
an employee of an Enron customer can't  include friends who don't work for
Enron customers in their group.

b) Our Intellectual Property department have  "flagged" (excuse the pun!)
the issue of using national flags in a commercial setting.  Use of the UK
flag wouldn't seem to create problems - there is no copyright in the flag
because it is over 200 years old and it is widely used on, for example,
T-shirts as decoration.  However, they believe that there might be issues
associated with using the US flag -  this flag doesn't, for example,
routinely appear as a decoration on T-shirts etc.

Is this something that has already been thought of and dismissed in the US?

We believe that, in practice, national governments might not take action to
prevent the use of their flags in/on commercial products, as long as the use
is in good taste.  In addition, we believe that copyright provisions in
flags are normally only enforceable within those particular countries.
Flags are usually restricted under international copyright law from being
registered as trade marks, but consent can be obtained to waive these
restrictions, so there is a possibility that particular national flags could
be registered trade marks.

Given the particular circumstances of the game i.e. the flags are being used
in "good taste", for a limited audience, for a limited time,  and Enron is
presumably not seeking to obtain an unfair advantage from using the
reputation of the flags, problems do not seem particularly likely.   My
sense is tha,t if the use of flags is thought a "non-issue" in the US, then
it is probably even more of a "non-issue"/less of an issue  in Europe, but
if you would like me to take this further/check with the various EU
jurisdictions, please let me know?

Thanks

Rachel

____________________________________________________________

This message is confidential. It may also be privileged or
otherwise protected by work product immunity or other legal
rules. If you have received it by mistake please let us know
by reply and then delete it from your system; you should not
copy the message or disclose its contents to anyone.
____________________________________________________________


Q.  What do Revenue Management, Windows 2000 and TIME all have in common?

A.  They are all topics in the latest issue of the GPG IT Customer News!

Go to http://www.ots.enron.com/GPG_IT/c1/index.html to stay up-to-date!


Please plan on attending an Organisational meeting today at 2:30 in room 46C1.

Sorry for the short notice.

If you can not make it, please get with Steve Jackson, Leslie Reeves or
myself so we can
keep you informed.

Thanks

Bob


Howdy,

Its me again.  Sorry about filling up your boxs with this "personal" junk
mail.

My tenant, who was excellent, is moving out at end of September, so will be
spending some of my time in SF looking for someone new.  Any leads?  Most of
you know its details; its expensive but competatively priced.

Mark-O

______________________________________________________
Get Your Private, Free Email at http://www.hotmail.com


I heard about this last week...pretty nasty
PL

---------------------- Forwarded by Phillip M Love/HOU/ECT on 04/05/2001
04:09 PM ---------------------------

Bryan Hull
04/05/2001 03:56 PM
To: Phillip M Love/HOU/ECT@ECT, Matthew Lenhart/HOU/ECT@ECT
cc:
Subject: Nice Rugby Story

Is this why you play rugby?

http://dailynews.yahoo.com/h/po/20010404/co/rugger_resigns_over_rectal_fouls_1
.html


Sara, Laurel was sent the link on 6/1/00, I have no record of a request for
Sheila Glover, but I am sending this email to her also.

Link -->

----- Forwarded by Tana Jones/HOU/ECT on 06/28/2000 03:22 PM -----

	Sara Shackleton
	06/28/2000 11:13 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Lotus Notes Access

Tana:  I hope I'm not repeating myself here but Laurel Adams (confirm desk -
Hickerson) and Sheila Glover (Hickerson CFO) need access.  If it's been
provided already, my apologies for asking again.  Thanks.  Sara


I might be able to get to it tomorrow if its a slow bid week, if not, then by
Wed of next week.

Darla Saucier@ENRON
11/27/2000 11:50 AM
To: Chris Germany/HOU/ECT@ECT
cc:
Subject: New Power Company

Hi Chris,

Please give me a call this afternoon and let me know if you've had a chance
to look over the deals for october that Mary Ellenberger emailed to you last
week. I would like to get this matter resolved this week.

Thanks
Darla


Anna,

Are you making reservations for Stewart and Paul?  If you are, could you please add myself and Sean?

Thank you,

Diana

 -----Original Message-----
From: 	Rosman, Stewart
Sent:	Wednesday, August 22, 2001 3:27 PM
To:	Choi, Paul
Cc:	Scholtes, Diana
Subject:	FW: WSPP Meeting October 11-12, Coeur D'Alene

 -----Original Message-----
From: 	Mehrer, Anna
Sent:	Wednesday, August 22, 2001 2:52 PM
To:	Rosman, Stewart
Subject:	FW: WSPP Meeting October 11-12, Coeur D'Alene

 -----Original Message-----
From: 	Mehrer, Anna
Sent:	Tuesday, June 05, 2001 11:27 AM
To:	Foster, Chris H.; Krebs, Holli; Rosman, Stewart; Choi, Paul; Malowney, John
Subject:	WSPP Meeting October 11-12, Coeur D'Alene

Dear Group,

I have deposited information in each of your mail slots concerning the WSPP meeting October 11 and 12 (Thu and Fri) in Coeur D'Alene, Idaho.  After you have completed filling out the registration materials for this meeting, please give the forms to me, and I will handle your enrollment.

I have also included several pages of outing ideas for some of your "special" customers that may attend this meeting.  Let me know if I can help in arranging that as well. I know it may seem premature to reserve anything right now, but the area is expecting a number of visitors, so I advise you to plan as far in advance as possible.  We may be hosting an event the evening of October 11, but nothing has been confirmed yet.

As always, I am also available to assist in making your travel arrangements.

Let me know if you have any questions!
Anna

http://www.wspp.org/Web%20Pages/WSPPOperatingCommitteeMeetings/WSPPSummerFall2001_OCM_ANC.htm


Do we want to contest, if possible?
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)

-----Original Message-----
From: Germany, Chris <Chris.Germany@ENRON.com>
To: McMichael Jr., Ed <Ed.McMichael@ENRON.com>; Boyt, Eric <Eric.Boyt@ENRON.com>; Mann, Kay <Kay.Mann@ENRON.com>
CC: Parks, Joe <Joe.Parks@ENRON.com>; Concannon, Ruth <Ruth.Concannon@ENRON.com>; Polsky, Phil <Philip.Polsky@ENRON.com>
Sent: Tue Mar 26 11:00:52 2002
Subject: Dominion gas supply Tallahassee deal on Florida

Dominion Oklahoma Texas Exploration & Production, Inc (successor to Louis Dreyfus Natural Gas Corp) is supplying ENA 10,000 dth per day at a Florida Zone 1.  This supply is matched up with ENA's sale to The City of Tallahassee.  I believe both deals go through March 2013.  I prepay Dominion for the supply each month.

This morning, I had a voicemail from my contact at Dominion, David Walker (405-749-5240).  His voicemail stated that Dominion was terminating their contract with ENA and Dominion would not be supplying any gas effective April 1, 2002.  Paul Vrana (713-752-4514) with Jackson Walker is representing Dominion, he prepared the termination letter.

Just spoke with Paul (10:55 AM) - he has not spoken with anyone representing Enron but he has worked with Harlam Murphy?? in the past.  He will fax a letter to me.

Kay, I will leave a copy of the letter in your chair.


Almost pulled off the 4 tease yesterday.
I was robbed

Denver +3 350
Phili +3 350


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----- Forwarded by Elizabeth Sager/HOU/ECT on 01/18/2001 05:54 PM -----

	"Jeffrey Watkiss" <dwatkiss@bracepatt.com>
	01/18/2001 03:08 PM

		 To: <elizabeth.sager@enron.com>
		 cc:
		 Subject: Collateral

memo is attached.  Please excuse typos.  I haven't even had time to read what
I wrote.

 - 0136886.01


You are a BIG HELP.

John Schwartzenburg@ENRON_DEVELOPMENT
08/23/2000 01:33 PM
To: Kay Mann/Corp/Enron@ENRON
cc: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Re: Invitation - Westinghouse/Gleason iss (08/24/2000 12:30:00 PM
CDT)

Advice and clarity  - - -  Uh . . . sure,uh how about "There'll be a meeting
and everyone will leave happy?"

To: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Re: Invitation - Westinghouse/Gleason iss (08/24/2000 12:30:00 PM
CDT)

I have a heavy meeting/conference call schedule.  To be honest with you, I'm
a bit unclear on who is doing what with this.  Any advice/insight?

Kay

John Schwartzenburg@ENRON_DEVELOPMENT
08/23/2000 01:28 PM
To: Kay Mann/Corp/Enron@ENRON, Scott
Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Re: Invitation - Westinghouse/Gleason iss (08/24/2000 12:30:00 PM
CDT)

Yeh, finally figured it out. I am trying to get out of town tomorrow, and
this is on top of some other hurry-up stuff, so I will likely miss. Scotty
will be there. Any chance youguys cna talk and geton the same page, or define
differences, before then?

To: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: Invitation - Westinghouse/Gleason iss (08/24/2000 12:30:00 PM CDT)

Couldn't tell if you saw this...
---------------------- Forwarded by Kay Mann/Corp/Enron on 08/23/2000 01:24
PM ---------------------------

John.Normand@enron.com@enron.com on 08/23/2000 11:47:29 AM
Sent by: Arlene.Chapman@enron.com
To: Mitch.Robinson@enron.com, Kay.Mann@enron.com,
John.Schwartzenburg@enron.com, Scott.Dieball@enron.com, Bob.Greene@enron.com,
Dennis.Alexander@enron.com, Brian.D.Barto@enron.com, Gavin.Gaul@enron.com,
Mark.Dobler@enron.com, Ross.Newlin@enron.com
cc:

Subject: Invitation - Westinghouse/Gleason iss (08/24/2000 12:30:00 PM CDT)

  (superscript: New meeting request from John Normand)

                08/24/2000 12:30 PM Local Time
                08/24/2000 02:00 PM Local Time

  Title:        Westinghouse/Gleason issues CR#5C1 - Lunch served
  (J.Normand, M.Robinson, K.Mann, J.Schwartzenburg, S.Dieball, B.Greene,
  D.Alexander, B.Barto, G.Gaul, M.Dobler, R.Newlin))
  Location:     -No room information available-

  Chair:        John Normand/ENRON_DEVELOPMENT

  To (required):   Mitch Robinson/Corp/Enron
  cc (optional):

     John Normand/ENRON_DEVELOPMENT wants you to attend a meeting.

On        08/24/2000 12:30:00 PM CDT
For       1 hour 30 minutes
With:          John Normand/ENRON_DEVELOPMENT (Chairperson)
          Mitch Robinson/Corp/Enron (Invited)
          Kay Mann/Corp/Enron (Invited)
          John Schwartzenburg/ENRON_DEVELOPMENT (Invited)
          Scott Dieball/ENRON_DEVELOPMENT (Invited)
          Bob Greene/ENRON_DEVELOPMENT (Invited)
          Dennis Alexander/ENRON_DEVELOPMENT (Invited)
          Brian D Barto/ENRON_DEVELOPMENT (Invited)
          Gavin Gaul/ENRON_DEVELOPMENT (Invited)
          Mark Dobler/NA/Enron (Invited)
          Ross Newlin/ENRON_DEVELOPMENT (Invited)

   Westinghouse/Gleason issues CR#5C1 - Lunch served (J.Normand,
M.Robinson, K.Mann, J.Schwartzenburg, S.Dieball, B.Greene, D.Alexander,
B.Barto, G.Gaul, M.Dobler, R.Newlin))


We have collected $85 so far.  Yipee!!


Vince,
I will be out of the office this Thursday afternoon.
Here is what I can present on Tuesday related to power prices:

Do you want to discuss it with me some other time?

Tanya


Comments, suggestions on suggestion below from other committee members?
---------------------- Forwarded by Lisa Connolly/NA/Enron on 02/26/2001
09:34 AM ---------------------------

Eldorlaw@aol.com on 02/25/2001 05:44:52 PM
To: Lisa.Connolly@enron.com
cc:

Subject: Questions re interviewees

Lisa:

    I thought your questions were righ on the mark.  Would you also add a
question regarding how they would handle union negotiations for higher pay
and benefits in light of fiscal pressures?

Look forward to seeing you

Roel


11-20 Enovate.xls


Let me know if she doesn't solve your problems.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 07/07/2000
04:14 PM ---------------------------
Beth Perlman @ ECT   07/07/2000 08:29 AM

To: John J Lavorato/Corp/Enron@ENRON, Kevin M Presto/HOU/ECT@ECT, Kristin
Albrecht/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT
cc: David W Delainey/HOU/ECT@ECT, Randy Matson/Corp/Enron@ENRON, Sally
Beck/HOU/ECT@ECT, Zhiyong Wei/HOU/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT

Subject: Re: Power Port Calc Issues

John,

As of Wednesday, we have a resource from Sun Microsystems that is helping  us
isolate the problems we're having with the UNIX operating system and our
code.  This resource has requested that we bring on an additional application
specialist from SUN.  This has been authorized and the additional resource is
scheduled to be on site next week.  I also have my resources and the UNIX
administrators working along side the Sun resources.

As an aside, we are also experiencing performance problems with the gas side
of the business.  I met with Sally Beck's controllers yesterday and we are
putting a plan in place.  The increased trading volumes have seriously
impacted our through put and we now have a 'blitz' on to correct the issues.

These problems have not gone unnoticed.  I assure you that IT has been very
diligent in following through on these problems.  We're investing heavily in
additional hardware, bringing in contractors and hiring additional resources
at an average of 5 - 8 per week.  I will keep you posted as we continue to
enhance our existing systems.

Beth

	John J Lavorato@ENRON
	07/06/2000 07:46 PM

		 To: Beth Perlman/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT
		 cc:
		 Subject: Power Port Calc Issues

Beth

Please respond with a plan to solve these problems.

Thanks John
---------------------- Forwarded by John J Lavorato/Corp/Enron on 07/06/2000
07:42 PM ---------------------------

	From:  Kevin M Presto @ ECT                           07/05/2000 07:39 PM

To: John Lavorato
cc: David W Delainey/HOU/ECT@ECT, Kristin Albrecht/HOU/ECT@ECT, Beth
Perlman/HOU/ECT@ECT

Subject: Power Port Calc Issues

Guys,
This Enpower calc issue is a joke.   How can we be the most Innovative
Company in the world and cannot fix a risk book calculation problem.
Furthermore, how can we effectively grow our volumes and complexity of our
power transactions when our back office (risk books, position management,
settlements) is so unreliable from an IT standpoint.

In addition, we will start losing all of our key people in this area because
they are here until 8:30-9:00 every night and 4:00 pm on "holidays".  This
whole issue is a significant business risk for Enron and needs to be dealt
with accordingly.

Please advise.  Thank you.
---------------------- Forwarded by Kevin M Presto/HOU/ECT on 07/05/2000
07:27 PM ---------------------------

	Enron North America Corp.

	From:  Kristin Albrecht                           07/05/2000 11:30 AM

To: Beth Perlman/HOU/ECT@ECT, Randy Matson/Corp/Enron@ENRON, Jarod
Jenson/HOU/ECT@ECT, Christine Nguyen/HOU/ECT@ECT, Zhiyong Wei/HOU/ECT@ECT,
Ravi Ramachandran/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT, Jenny
Latham/HOU/ECT@ECT, Jenny Rub/GPGFIN/Enron@Enron
cc: Sally Beck/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Tim
Belden/HOU/ECT@ECT
Subject: Power Port Calc Issues

The Power risk group continues to experience severe instability with the
power port calc.  The same memory allocation issue which I discussed in the
message below is not resolved (we have had this problem for about four months
now).  Due to business reasons, we calculated the east power books on Monday
(Enron holiday).  We received all of the required data to calc by 9:30 AM and
should have been completely done by 11:30.  However, the calc crashed six
times and finally completed on the seventh try.  We were able to leave by
4:00.  The point I am trying to make is that I feel that we are at such a
state that there is risk that we could not provide positions to the traders
by the start of the next business day.  This could have a financial impact on
our company.  Once again, I am urgently and desperately asking for resolution
of this problem.
Furthermore, it came to my attention on Friday that EES is now using EnPower
and the power port calc and they too are using the same server that we are.
I question this decision since we cannot seem to support the existing
business that is using that server.  Per discussion with Kevin Presto, the
agreement made regarding EES's use of EnPower was there would be no expense
or degradation to ENA's business process.  I think they need to move to
another server.
Please call to discuss when this will be resolved.  Thank You.
Kristin Albrecht
3-4763

---------------------- Forwarded by Kristin Albrecht/HOU/ECT on 07/05/2000
09:35 AM ---------------------------

	Enron North America Corp.

	From:  Kristin Albrecht                           05/15/2000 09:48 AM

To: Beth Perlman/HOU/ECT@ECT, Randy Matson/Corp/Enron@ENRON, Jarod
Jenson/HOU/ECT@ECT, Christine Nguyen/HOU/ECT@ECT, Zhiyong Wei/HOU/ECT@ECT,
Ravi Ramachandran/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT, Jenny
Latham/HOU/ECT@ECT
cc:
Subject: athena vs quark

With regards to the message below, we must have athena (server) to run our
nightly risk books for the power group.  We run one of our three east power
calcs on this machine (the second largest one).  Since an acceptable solution
for the big power calc has not been provided to us, athena CANNOT be taken
away from us.  The east power calc crashed 3 out of 5 days last week.  We
usually start calcing at about 4:00.  The calc time is now running at 1.5
hours and we have about 1.5 hours' worth of work after the calc's successful
completion.  So you do the math on what time my group leaves the building
when the calc crashes at 4:30.
Furthermore, the West power calc has crashed 3 out of 5 nights weekly for the
last 3 weeks.  This is not acceptable.
We are about to enter the busiest and most volatile time of the year and our
system is not stable.  I feel like we have been very patient at the expense
of many late nights.  I am going to speak to Kevin Presto and Tim Belden
today about these problems.
I think we need to meet immediately about this problem and I am exhausted
with the finger pointing between different IT groups.
Thanks.
Kristin Albrecht
---------------------- Forwarded by Kristin Albrecht/HOU/ECT on 05/15/2000
09:27 AM ---------------------------

Christine Nguyen
05/12/2000 01:01 PM
To: Ravi Ramachandran/HOU/ECT@ECT
cc: Randy Matson/Corp/Enron@ENRON
Subject: athena vs quark

Ravi,
       Please advise your users that athena will be completely unavailable
starting
Wednesday17May2000.  The production server is quark (12gb RAMx18procs).
quark is configured to our standard for your use.
Thanks,
-Christine


Attached, please find a transcript from Governor Davis' press conference
yesterday during which he announced the signing of SBX 5 and ABX 29.
The press conference dealt with a variety of issues.

http://www.governor.ca.gov/state/govsite/gov_htmldisplay.jsp?BV_SessionID=@@@@
1424090196.0987090193@@@@&BV_EngineID=falkikghjlebemfcfkmchcng.0&sCatTitle=Pre
ss+Release&sFilePath=/govsite/press_release/2001_04/20010411_transcript_of_SB5
x_AB29x_bill_signing.html&sTitle=GOVERNOR+GRAY+DAVIS+SIGNS+LANDMARK+ENERGY+CON
SERVATION+PACKAGE%0aAPRIL+11,+2001%0a&iOID=14336


A;0042343;MPRSDNTN  ;014;008;N;Danny McCarty;Danny McCarty - (Approved);

;@@@@@@@@@


Scott:
Condolences to the Carr family.
If you need to reach me for any reason, I can be reached at 713-853-3293

 -----Original Message-----
From: 	soblander@carrfut.com@ENRON [mailto:IMCEANOTES-soblander+40carrfut+2Ecom+40ENRON@ENRON.com]
Sent:	Wednesday, September 12, 2001 8:33 AM
To:	soblander@carrfut.com
Subject:	All Carr Energy business is being handled in Chicago

Because of the tragedy in New York, all accounts are being handled out of
Chicago.
Please direct any questions to Mike Heffner, Rob Vujtech and I here in
Chicago at 312-762-1010 or 800-326-5493. We are attempting to contact every
customer today.
Any one who receives this email and dealt with our New York office, I will
need your telephone numbers.
Thank you for your help in this matter.
Scott

Scott Oblander
312-762-1015
312-762-1014 fax
Carr Futures
150 S. Wacker
Suite 1500
Chicago, IL 60606


FYI

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/24/2000
03:28 PM ---------------------------

	Clayton Vernon @ ENRON
	10/20/2000 09:30 AM

To: Vasant Shanbhogue/HOU/ECT@ECT
cc: Vince J Kaminski/HOU/ECT@ECT
Subject: enron's new weather system, courtesy the research dept.

V

Last night, I tested our new system for real-time surveillance and messaging
of the weather, and it delivers the data to desktops throughout the building
more than 6 1/2 minutes before the National Weather Service updates their
webpages. Our current technology was web-scraping these pages via ftp, then
parsing into a database. The impact of these 6 1/2 minutes for the hourly
power traders is enormous- the weather stations upload their data around 53
minutes after the hour, and we can now receive them within 2 minutes later.
We can now re-estimate our nonlinear stack model before the top of the hour,
when hourly power trading begins. Otherwise, we would not have model results
until around 15 minutes after the hour. Notably, hourly power trading is, for
all intents and purposes, concluded by then (they trade for 10-15 minutes and
manage the scheduling for the next 30 or so miutes). So, effectively, we may
now be one *hour* ahead of where we were just a few days ago, in terms of
information. People are very excited up here, from the CTO on down- thanks
for letting it happen.

C


I found this on our intranet site:


Please give me a call when you have time re Wisconsin PS.

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


Well I say book all three nights if the cancellation policy is ok, and let's
go for it.  Jack to the doggie spa, Michael with Paige.

"Neil Mann" <nmann@erac.com> on 12/05/2000 02:01:01 PM
Please respond to <nmann@erac.com>
To: <Kay.Mann@enron.com>
cc:

Subject: RE: Christmas

Tuesday, Wednesday and Thursday, the 26, 27 and 28.

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Tuesday, December 05, 2000 1:31 PM
To: nmann@erac.com
Subject: RE: Christmas

Which nights do they have?

"Neil Mann" <nmann@erac.com> on 12/05/2000 01:38:11 PM

Please respond to <nmann@erac.com>

To:   <Kay.Mann@enron.com>
cc:

Subject:  RE: Christmas

Not at all!
I forgot to ask you about The Box this morning when we talked on the phone.
I will make sure it's put together tonight, but not sealed if there are any
last minute items that come to mind, and take it to the post office
tomorrow
morning. I will call and make reservations after checking the cancellation
policy. What days do you want, or should we wait to hear back from Paige?

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Tuesday, December 05, 2000 1:04 PM
To: nmann@erac.com
Subject: Christmas

Am I begging too much?

Can you mail her package tomorrow?  I meant to ask today, but I got home so
late I didn't get things together.  I put one of Michael's airplane
pictures in there.

If all else fails we can take Michael to Fort Worth.  My mom would love to
watch him as she wants him to be exposed to Fort Worth culture.  (a better
grade of  bean dip).

I'm very excited!!!!

Love,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/05/2000 01:01
PM ---------------------------

Kay Mann
12/05/2000 12:58 PM

To:   recordp@southwestern.edu
cc:

Subject:  Christmas

Hi,

You must be busy these days.  I remember this time of year - and I don't
really miss it.  Cleaning and exercising were my favorite procrastination
activities.

Neil and I would like to schedule a brief Neil and Kay vacation over the
holidays.  We are looking at December 27-30, so we would be back before New
Year's Eve.  We will pay you handsomely (in cash!!!) for keeping Michael
for those days/nights.  What do you think?  We have found a room at the Inn
Above Onion Creek.  I know Michael would be so excited to spend the time
with you. We can give you guys a generous allowance to make things easier,
and you can drive the Lexus.

Do I sound like I'm begging yet?  I'm working really hard these days, and a
few days of no responsibilities sounds GREAT.

You should start watching your box at the end of the week.  Hope it gets
there before Saturday, since I know the SU post office is closed.

Love,

Mom


Susan,

Per my earlier e-mail, we have finalized the credit terms for this ISDA (see
attached credit worksheet).  Also, please make note to change the definition
for Net Worth that used in the drafts.  The draft versions defined Net Worth
with Notes Receivable subtracted out.  This should be changed and the the Net
Worth definition that is normally used in the ISDA should be replaced.
Finally, please make PanCanadian Petroleum Limited a specified entity.

Once this draft is complete, can you please have Sara review.

Thank you,

Russell

---------------------- Forwarded by Russell Diamond/HOU/ECT on 08/02/2000
03:47 PM ---------------------------

From:  Russell Diamond
     08/02/2000 10:31 AM

To: Sara Shackleton/HOU/ECT@ECT
cc: Susan Bailey/HOU/ECT@ECT
Subject: [Fwd: Credit Support Annex]

Ya Hoo,

I think we may have this one done       ------finally.

Please review the e-mails below with respect to the Minimum Transfer Amount.
If you recall, this person had been at a conference in which the speaker
suggests the Min. Transfer Amount be at least twice that of the Collateral
Rounding.  The Speakers point, which I can understand to an extent, has to do
with discrepancies in valuing Mark-to-market between the two counterparty's.
I can accept this, and will accept PanCanadian's proposal of a $100,000
Minimum Transfer and $100,000 collateral rounding.

Please let me know your thoughts.

Also, I have attached and amended credit worksheet per my discussions with
PanCanadian which incorporates our credit resolutions.

Thanks
Russell

---------------------- Forwarded by Russell Diamond/HOU/ECT on 08/02/2000
10:14 AM ---------------------------

"Harry Wijsman" <Harry_Wijsman@pancanadian.ca> on 08/02/2000 09:51:00 AM
Please respond to Harry_Wijsman@pancanadian.ca
To: "Diamond, Russell" <russell.diamond@enron.com>
cc:
Subject: [Fwd: Credit Support Annex]

Russell,

For your review. Based on this explanation I recommend a minimum
transfer amount of $100,000 and a rounding amount of at least $100,000.

Also, PanCanadian Energy Services Inc.'s CFO is willing to accept the
Minimum Net Worth indicator in the MAC clause but has requested the
threshold amount to be $100,000,000. In my opinion this is reasonable as
you are setting the credit limit threshold relatively low at $2,000,000.

If you are in agreement with the above, I believe this completes the
negotiation of the agreements and we can move toward preparing execution
copies.

Please let me know....regards, Harry

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Subject: Re: Credit Support Annex

Hi Harry.  Thanks for your note.  It is my
understanding that when the ISDA Credit Support Annex
was first drafted, the drafters had a couple of
concerns about transfers so they addressed each concern
differently.  The minimum transfer amount is used to
avoid de mininimus transfers (remember that the
original participants were all banks and finance houses
doing large dollar deals together with daily marking to
market).

The drafters provided the option of rounding to avoid
conflicts as to what the transfer amount should be.
The original thought probably was to set rounding
limits quite high so that even if Party A and Party B
had different numbers, the rounding would be large
enough to avoid disputes.

You may recall that I used an example of one party
calculating that the delivery amount should be $1.6
million and the other calculating a delivery amount of
$1.8 million.  If rounding is up in integral units of
$500,000, the transfer would be for $2 million, thus
avoiding the conflict.

Some parties choose to use either minimum transfer
amount or rounding--but not both.  When parties use
both, they should examine whether the numbers they have
chosen for rounding don't interfere with minimum
transfer amount and vice versa. Many times, an
otherwise due transfer isn't made because the rounding
or minimum transfer numbers effectively change the
transfer amount.

Rounding needn't be less than half of the minimum
transfer amount.  Parties should understand, though,
that either can interfere with a transfer otherwise
due.  If you have further questions, please advise.

Quoting Harry Wijsman <Harry_Wijsman@pancanadian.ca>:

> Ann,
>
> I attended and enjoyed your recent class on the above
subject in
> Calgary.
>
> During this class you mentioned a most effective
stucture under
> parargraph 13(b)(iv) Thresholds was to have the
"minimum transfer
> amount" set at twice the amount of the "rounding ".
You provided an
> explanation of this structure which I did not
understand or write down.
>
> Can you please provide me with this detailed
explanation again by return
>
> E-mail.
>
> Your assistance is most appreciated. Thank You
>
> Regards...Harry
>
>
>
>
>


Monika,

I think an important point to make is not just that the FOEX was up for the period, but that this is the third week of increases for the hardwoods index after several mixed months (both increases and decreases).  However, it's also significant that this week's increase is less than that of last week indicating that the market has not yet found direction.

In terms of the NBSK index, I think it'd be important to point out that this is the first increase in the index since April of this year.  Again, I don't believe this indicates any firm direction in the market, but it's nonetheless a significant event.

KC

 -----Original Message-----
From: 	Causholli, Monika
Sent:	Tuesday, October 02, 2001 8:13 AM
To:	Aguilera-Peon, Maria Teresa; Allan, David; Biggerstaff, Finley; Boudreaux, Jay; Bruce, Michelle; Bruce-Jones, Tom; Bruch, Greg; Bryja, James; Carter, Karen E.; Conner, Andrew R.; Crane, Bob; Dimitry, Dirk; Ferrell, Daniel; Hernandez, Morela; Juvane, Danilo; Kabel, Jeff; Rickard, Craig; Robinson, Richard T.; Schmidt, Joern; Schube, Jonathan; Stapley, Cecil
Subject:	Foex ix up

Today FOEX published its index for NBSK and BHKP:

NBSK increased by $ (1.13) or 0.25%

BHKP increased by Euro 6.97 (1.6%) to Euro 443.73. Expressed in $US BHKP was up by $2.15 (0.53 %) to $407.11
See attached

Monika Causholli


Good Morning,
Samantha asked me to check her email for items that appear to need resolution and send them to the ladies of the SWAP group.  If I may be of any assistance, please don't hesitate to contact me at 53317.  I am not sure if this item needs immediate attention or not.  Thank you!
Keegan

Samantha M. Boyd
Senior Legal Specialist
Enron Wholesale Services
1400 Smith Street, EB3803
Houston, Texas 77002
Ph:  (713) 853-9188
Fax:  (713) 646-3490

 -----Original Message-----
From: 	Otto, Randy
Sent:	Thursday, November 22, 2001 1:03 PM
To:	Boyd, Samantha; Rohauer, Tanya
Cc:	Espinoza, Veronica; Williams, Jason R (Credit); Johnston, Greg
Subject:	Mirant Canada's purchase of TransCanada Pipelines trading business

On October 11, Mirant Canada Energy Marketing Ltd. purchased a substantial portion of TransCanada Pipeline's trading and marketing business. As a result, Mirant will be purchasing the entire business of TransCanada Energy Financial Products Limited, and will be taking assignment of the physical gas transactions/contracts of TransCanada Gas Services Inc. and TransCanada Gas Services, a division of TransCanada Energy Ltd.

As a result of this transaction, TransCanada Pipelines Ltd. will be terminating whatever credit support they provided for these entities and that credit support will be picked up by Mirant Corp, depending on the arrangements that we have negotiated. With respect to TransCanada Energy Financial Products Limited, it was agreed that the ISDA that is currently between Enron Canada Corp. and TransCanada Energy Financial Products Limited will be assigned to Mirant Canada Energy Marketing Ltd under the same credit terms as currently exist.  Mirant Corp will issue a $30 million USD guaranty to provide the credit support for this document, the same dollar amount that TransCanada Pipelines Ltd was providing.  They have also agreed to provide whatever necessary collateral to cover their exposure, over the threshold, as a result of their purchasing this entity.

With respect to TransCanada Gas Services Inc., the only outstanding gas transactions are with Enron North America and these all relate to physical product. There is no contract between TransCanada Gas Services Inc. and Enron North America, but TCPL is currently providing a guaranty for this business. This guaranty will be terminated, and these transactions will be covered under a current Mirant Corp guaranty covering Mirant Canada Energy Marketing Ltd. for physical gas transactions with Enron North America. This current guaranty is for USD $10 million and is of a sufficient amount to cover the current exposure as well as the exposure being brought over from TransCanada Gas Services Inc..

Finally, with respect to TransCanada Gas Services, a division of TransCanada Energy Ltd, there is currently a physical gas master with Enron Canada Corp. However, this was executed in 1993 and is outdated with respect to credit provisions. I have been working with the credit contact at Mirant Canada to get a new physical master between ECC and Mirant Canada Energy Marketing Ltd. This new master would govern all existing trades between ECC and Mirant Canada, as well as those coming over from TransCanada Gas Services, a division of TransCanada Energy Ltd. However, in the interim, the TransCanada trades would still be covered by the existing master. TransCanada Pipelines will terminate their guaranty of this entity with respect to these transactions.  Alternatively, Mirant Corp has agreed to amend their existing guaranty covering physical gas transactions between Mirant Canada Energy Marketing Ltd. and Enron Canada Corp by increasing the coverage from USD $30 million to USD $50 million. This entity also has some exposure with Enron North America, which will also be covered under the existing Mirant Corp. guaranty for USD $10 million.

A contract between ENA and Mirant Canada Energy Marketing Ltd. would also be an ideal outcome out of this; however, the first priority is getting a new physical gas master between ECC and Mirant Canada Energy Marketing Ltd.

If there is any other information that I can provide on this matter, please do not hesitate to contact me.

Thanks

Randy Otto
Senior Credit Analyst

Enron Canada Corp.
3500 Canterra Tower
400 - 3rd Avenue S.W.
Calgary, Alberta
T2P 4H2

403-974-6716 (ph)
403-974-6706 (fax)


Per Bass-
like last year we get 13 guys, one must remain on IR for the entire week.
Note - the person does not have to be injured.

Pickups and drops are every monday.

If you do not know how to add/drop, ask any of us from last year.
PL


This date works for me so I will assume that Julie will be going.  I will
work on flight  arrangements for Julie and I unless you think you might be
going.  I need your help in determing what equipment needs we need.  Call me
at 35539 or respond to this memo.
---------------------- Forwarded by Jane M Tholt/HOU/ECT on 10/13/2000 07:54
AM ---------------------------

"Vera, Ed - TPEAV" <EVera@socalgas.com> on 10/12/2000 04:18:45 PM
To: "'jane.m.tholt@enron.com'" <jane.m.tholt@enron.com>
cc:
Subject: Meeting in L.A.

Jane:

It looks like the Oct 31st works for most people here that would have a stake
in this proposal.? I have set-up a meeting starting at 8:30 to 11:30 am.? Let
me know if that works for you or if we need to adjust.? Also let's discuss
any equipment needs you might need such as a data line for access to Internet
and any audio video equipment so I can have it arranged.?? Hotels in the area
are: The Biltmore, The Westin Bonaventure and The Intercontinental Hotel all
within one block of our building.? I believe at the Biltmore we have a
special rate if you mention that its for SoCalGas.

I'll be telecommuting tomorrow so you can reach me at my cell phone at (213)
248-4053.

Thanks very much

Ed


---------------------- Forwarded by Sara Shackleton/HOU/ECT on 05/25/99 10:52
AM ---------------------------
To: Sara Shackleton/HOU/ECT@ECT, Mary G Gosnell/HOU/ECT@ECT
cc:
Subject: Re: Sempra

FYI

---------------------- Forwarded by Jefferson D Sorenson/HOU/ECT on 05/24/99
12:17 PM ---------------------------

Lee Munden
05/24/99 11:52 AM
To: Jefferson D Sorenson/HOU/ECT@ECT
cc:
Subject: Re: Sempra

Jeff

I have spoken with Carl and agreed to send him a draft Master gas sales
agreement, together with ISDA documentation based upon the agreement that
Carl says is already in place with ECT Houston.

Lee

To: Lee Munden/LON/ECT@ECT
cc:
Subject: Re: Sempra

Do you anticipate doing trades with Sempra in the future?  Please see below
which indicates Sempra's desire for a master if that is the case.  Please let
me know.
713-853-5294.

Thank you,
Jeff Sorenson
---------------------- Forwarded by Jefferson D Sorenson/HOU/ECT on 05/24/99
10:06 AM ---------------------------

Tanya Rohauer
05/24/99 10:03 AM
To: Jefferson D Sorenson/HOU/ECT@ECT
cc:
Subject: Re: Sempra

I suspect they plan to do deals there as they are trying to get Enron Corp to
guaranty the UK entities.  Talk to Lee Munden (London Credit) as he has been
managing the Sempra relationship over there.

Thanks,
Tanya

To: Tanya Rohauer/HOU/ECT@ECT
cc:
Subject: Re: Sempra

Do you anticipate future ECT International deals with Sempra?

Thanks,
Jeff
---------------------- Forwarded by Jefferson D Sorenson/HOU/ECT on 05/24/99
09:53 AM ---------------------------

Sara Shackleton
05/24/99 09:15 AM
To: Jefferson D Sorenson/HOU/ECT@ECT
cc:
Subject: Re: Sempra

Credit needs to initiate (and it may have to be London credit) but Tanya
Rohauer will know.  FYI - London told us that Sempra "will not trade with ECT
International."   SS

To: Sara Shackleton/HOU/ECT@ECT
cc: Mary G Gosnell/HOU/ECT@ECT
Subject: Sempra

If we anticipate having to document any trades under ECT International Carl
Petersen is going to want a Master set up with that entity.  Who needs to
initiate that?

Thanks,
Jeff


With respect to the laundry list Dave D sent you:

1. Press Releases-the press release has not yet been prepared, but a first
draft was worked up by FCEL's consel. Cle Dade and I are going to look at it
with respect to what we think it should say, but have not yet done so.

2.Term Sheet -I will send you a draft of the most recent term sheet I am
aware of by separate email..I believe they are in discussions with FCEL on
that draft, but nothing has been signed.

3.Disclosure Discussions-I will also send you under separate email the
initial draft of the "talking points" for the disclosure discusison. It is
new and has not been discussed internally yet.

4.Contracts-Initial drafts of the documents for the purchase of the equity
have been drafted and we await comments from FCEL's counsel.  Kay Mann is
handling the "State" side of the deal and I request Kay by copy of this memo
to advise you on what the status of any dealings with the state might be.

5.Regulatory Filings-There will be no filings required with respect to the
purchase of the equity, unless we have to file a Sched. 13D, which will
depend upon the timing of the option vesting.  My gut reaction is that we
will probably need to file the 13D, but it is a routine filing.  I do not
know what will be required in terms of hearings in the state process and
again request Kay to please advise us on that.

It seems to me thay we should get a little farther along before we meet with
the team on this, but I defer to your judgment.  Let me know what you want to
do.

                                                                Dan

	Mark E Haedicke
	09/25/2000 02:31 PM

		 To: Dan Lyons/HOU/ECT@ECT
		 cc:
		 Subject: FCEL

Dan, please prepare a list of items you think I should sign off on and then
set up a meeting where we can review that list with the whole team.     Mark
----- Forwarded by Mark E Haedicke/HOU/ECT on 09/25/2000 02:29 PM -----

	David W Delainey
	09/22/2000 06:32 PM

		 To: Janet R Dietrich/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, Heather
Kroll/HOU/ECT@ECT, Charles Vetters/HOU/ECT@ECT, Jeffery Ader/HOU/ECT@ECT
		 cc: Cliff Baxter/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Jeff
Donahue/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron
		 Subject: FCEL

Guys, I have spoken to Cliff and Mark and we are comfortable moving forward
under the structure we have discussed.

 FCEL: - $5MM in equity and 1.3MM warrants from corporate treasury stock that
vest based upon 60MW of orders;
  - discussion with FCEL in which we disclose ALL infromation we have about
the potential Conn. deal - I will require that myself and Mark be on   that
call;
  - the transaction is fully press released immediately.

 CRRA: - subject to final due diligence on the development risks, we provide
the management and wrap for CRRA on the potential fuel cell development
opportunity that consists of between 25 and 50 MW;
  - any appropriation of funds from the government will require DPUC hearing
at which we will fully disclose in a factual manner our interest in    FCEL.

I will require that Mark Haedicke manage this process and sign off on all
press releases, term sheets, disclosure discussions, contracts and regulatory
filings.  I believe that we have this managed appropriately as long as we
manage the process as per the script and in a factual manner.

Thanks
Delainey