FYI news articles from Indian press.
---------------------- Forwarded by Sandeep Kohli/ENRON_DEVELOPMENT on
04/27/2001 08:24 AM ---------------------------

Nikita Varma
04/27/2001 07:51 AM
To: Nikita Varma/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:  (bcc: Sandeep Kohli/ENRON_DEVELOPMENT)

Subject: From The Enron India Newsdesk - April 27th newsclips

Friday Apr 27 2001, http://www.economictimes.com/today/cm03.htm
DPC board empowers MD to cancel MSEB contract

Friday Apr 27 2001,  http://www.economictimes.com/today/27comp11.htm
MSEB pays Rs 134cr under 'protest' to DPC

Friday, April 27, 001,
http://www.businessstandard.com/today/economy4.asp?Menu=3
Enron India MD authorised to terminate PPA

Friday, April 27, 2001,http://www.financialexpress.com/fe20010427/top1.html
Foreign lenders slam brakes on disbursements to DPC , Sanjay Jog & Raghu Mohan
Global banks comfortable with Enron pull-out

Friday, April 27, 2001, http://www.indian-express.com/ie20010427/nat23.html
Enron: Dabhol chief gets powers to end deal with the MSEB

Friday, April 27, 2001, http://www.the-hindu.com/stories/0227000d.htm
Offer of renegotiation 'too late': Enron, By Mahesh Vijapurkar

Friday ,27 April 2001, http://www.timesofindia.com/today/27home2.htm
Enron ready to pull out, but lenders say wait

Friday, April 27, 2001, http://www.hindubusinessline.com/stories/142756dh.htm
DPC board authorises MD to issue PPA termination notice

Friday, April 27, 2001,
http://www.dailypioneer.com/secon2.asp?cat=story7&d=FRONT_PAGE
Enron testing Maharashtra's nerves, T N Raghunatha

Friday, April 27, 2001,http://www.telegraphindia.com/
ENRON SIGNAL TO SWITCH OFF DABHOL POWER

Friday, April 27, 2001,
http://www.thestatesman.org/page.news.php3?id=13026&type=Pageone&theme=A
Enron threatens to pull out

Friday, April 27, 2001,
http://www.chalomumbai.com/asp/article.asp?cat_id=29&art_id=10006&cat_code=2F5
74841545F535F4F4E5F4D554D4241492F5441415A415F4B4841424152
'DPC may not wind up'

Friday, April 27, 2001,
http://www.chalomumbai.com/asp/article.asp?cat_id=29&cat_code=2f574841545f535f
4f4e5f4d554d4241492f5441415a415f4b4841424152&art_id=9953
Enron offers 'no comment' on renegotiation, H S Rao

 http://www.afternoondc.com/
'ENRON'S ON!'
State govt. to renegotiate Dabhol Power Project , By Hubert Vaz

THE ECONOMIC TIMES, Friday Apr 27 2001
DPC board empowers MD to cancel MSEB contract

THE ENRON power project crisis on Thursday deepened with the board of Dabhol
Power Company authorising the management to issue a termination notice to the
Maharashtra State Electricity Board even while international lenders to the
project asked Enron to renegotiate power purchase agreement signed with the
MSEB.
The decision to authorise managing director Neil McGregor to issue "notice of
termination on the contract to sell 740 MW of power" was taken after the
board prevented MSEB from voting on the ground that it was an interested
party. The decision was taken with six votes in favour and the single
opposition vote was cast by IDBI, sources said.

According to reports, financial institutions such as ANZ Investment Bank,
Credit Suisse First Boston, Citibank, ABN-Amro and the State Bank of India
have on Wednesday advised Enron against terminating its PPA with MSEB. MSEB
chairman Vinay Bansal, who with two other directors attended the meeting on
Wednesday representing Maharashtra,s 15 per cent stake in the near $3-billion
project, said: "The Indian side told them that it would be unfortunate if
Enron broke the contract." While Bansal declined comment on the board
decision, the sources said the Indian side had expressed its interest to
holds talks on the issue rather than terminating the project and there were
possibilities of a fresh power purchase agreement between the company and the
state. (PTI)

THE ECONOMIC TIMES, Friday Apr 27 2001
MSEB pays Rs 134cr under 'protest' to DPC

 DESPITE the threat of a possible termination notice hanging on its head,
Maharashtra State Electricity Board on Thursday made a "protest payment" of
Rs 134 crore disputed amount, towards March bill of Rs 146.64 crore to
Dabhol. "We were ready with the payment on Wednesday itself, but DPC
officials could not collect the cheque due to the statewide bandh", a senior
MSEB official said. "We have disputed payment of Rs 12.64 crore and it would
be now taken up at the disputes resolution forum, of which Enron India
managing director K Wade Cline and Krishna Rao are members", MSEB sources
said.

Last week, DPC had dashed off a communication to the government and MSEB that
it would not accept "protest payments" anymore. Cline had said the energy
major shall treat such payments as an election to pay the sums, which MSEB in
fact owed DPC in full and that the company would also not recognise the
"purported protest or reservation". MSEB had paid a Rs 113.5 crore February
bill in protest last month. On April 23 last, both domestic and international
lenders of DPC had met in London and held exhaustive discussions the
multinational's move to issue a termination notice to MSEB and state
government. (PTI)

BUSINESS STANDARD, Friday, April 27, 001
Enron India MD authorised to terminate PPA

The board of the Enron-promoted Dabhol Power Company (DPC), at its meeting in
London on Wednesday, authorised the managing director of Enron India to issue
a notice for terminating the power purchase agreement to the Maharashtra
State Electricity Board and the state government. &The board has authorised
Wade Cline to serve the termination notice. However, this does not mean that
the termination notice will be served immediately. It is only an enabling
provision and will be used only if the situation arises,8 a state government
source told Business Standard from London. He said DPC was under pressure
from its lenders.
The DPC spokesperson here refused to comment on the issue. The hardening of
the board,s stand is in sharp contrast to the advice of DPC's lenders, who
had warned Enron not to precipitate matters by issuing a termination notice.
The lenders had arrived at a consensus that the termination notice need not
be served at this stage. Serving of the notice requires a nod from the
lenders, who have an exposure of about $2 billion in the project. Sources
said given the lenders' strong opposition to termination of the contract, the
Enron board's "enabling resolution" did not have much significance beyond
conveying a hardening of its stand with regard to the current imbroglio. The
Maharashtra Chief Minister had warned Enron not to scuttle the process of
crisis resolution by issuing a termination notice. The state government is to
nominate an expert group to renegotiate the terms of the Dabhol contract.
Enron holds 65 per cent in DPC, while US-based GE and Bechtel hold 10 per
cent each. The balance 15 per cent is held by MSEB through a special purpose
vehicle, Maharashtra Power Development Corporation. The MSEB representatives
were not allowed to vote at the meeting since they were an interested party.
The IDBI representative protested against the board's decision. The meeting
was attended by state energy secretary VM Lal. The meeting was held against
the backdrop of a dispute between MSEB and DPC over payment of bills.
After MSEB failed to pay Rs 102 crore towards the December 2000 bill, DPC
invoked the state government's guarantee and then the Union government's
counter guarantee. When payment of the Rs 127-crore January bill became
overdue, DPC again invoked the state government's guarantee. MSEB retaliated
on January 28, 2001 by slapping a Rs 401-crore penalty for non-supply of
electricity at adequate levels. It demanded that DPC adjust the bills against
this penalty. "This stand of MSEB was explained to DPC at the board meeting",
a state government official said. The Centre also supported MSEB's stand and
refused to honour the counter guarantee. The power company then invoked the
political force majeure clause. A process of conciliation and arbitration
between the Centre and DPC is currently on.
THE FINANCIAL EXPRESS, Friday, April 27, 2001
Foreign lenders slam brakes on disbursements to DPC , Sanjay Jog & Raghu Mohan
Global banks comfortable with Enron pull-out
Lenders to the Dabhol Power Company (DPC) are a sharply divided lot.
International lenders, in direct contrast to the stand taken by local ones
led by the the Industrial Develoment Bank of India (IDBI), are categorical
that additional assistance to DPC,s phase-II will be held in abeyance despite
the completion of 92 per cent of the project work.The stage is also set for a
preliminary termination notice to be served by DPC to the Maharashtra State
Electricity Board (MSEB) within the next four weeks.This follows the
authorisation given to Enron India,s managing director K Wade Cline and DPC
president & CEO Neil McGregor to serve the termination notice, and transfer
notices to MSEB, following Wednesday,s DPC board meeting in London.
The essence of the message from the international lenders following the
London meeting with DPC board is: Emotions do not work. Contractual
obligations and payments have to be met. We are convinced that the MSEB has
failed to meet its obligations. There is no point in Enron continuing with
the project and the company should get out of it.The structuring of DPC,s
debt has created two classes of lenders. In phase-I, international lenders
are covered by a sovereign guarantee while in phase-II, no lender is.
However, all lenders have a parri passu charge, making attachment of assets a
messy affair.
Sources in international banks were quick to point out that local lenders to
phase-II of the project are worried that an awry DPC project will affect
their interests more given that they have no security * other than assets *
like a sovereign cover. &It was this desperation that made local lenders like
IDBI slash the interest rates a few months back to 16.5 per cent from 21.5
per cent,8 a leading foreign banker pointed out.Three points that were made
clear and stressed in no uncertain terms by international lenders were: a)
there are contractual obligations b) MSEB was not punctual in its payments to
DPC and c) MSEB adopted a confrontational position by slapping a Rs 401 crore
rebate charge on DPC for misdeclaration and default on the availability of
power.
While local lenders led by IDBI * with MSEB parroting the same * were of the
view that the current situation is a temporary one, international lenders
were steadfast that pulling out of the project is the only way out. This is
despite the stance taken by IDBI and MSEB that authorisation for termination
given to Mr Cline and Mr McGregor was not called for. International bankers
pointed out that they will now have to look at the issue of charges and
protection for their loans in the event of the power project being scrapped
in its present form.The points of contention are: a) that phase-I of DPC is
backed by a sovereign guarantee b) phase-II is not and c) to the extent that
phase-II is covered by assets, cancellation of phase-II may see all assets *
even those under phase-I * getting attached. Therefore, an examination on the
segregation of assets under phase-I and phase-II is now warranted.
PTI adds: In a significant move, DPC board has empowered its management to
sever power supply agreement with MSEB, a move that could inflict a financial
liability of about Rs 2840 crore on the Centre. A decision to authorise DPC
president Neil McGregor to issue a termination notice to MSEB for sale of
power was taken by the board at its meeting on Wednesday.
THE INDIAN EXPRESS, Friday, April 27, 2001
Enron: Dabhol chief gets powers to end deal with the MSEB

THE BOARD of Dabhol Power Company, a subsidiary of Houston-based Enron Corp,
has decided to warn the Maharashtra State Electricity Board (MSEB) that it
intends to pull the plug on its Guhagar-based project.In a board meeting held
in London on Wednesday, the board decided to authorise DPC President and CEO
Neil McGregor and Enron India,s managing director K Wade Cline to serve a
++preliminary,, termination notice for sale of power to the MSEB within the
next four weeks.The Dabhol project has been mired in disputes since MSEB
began missing payments last year. MSEB owes Dabhol Power $48 million for
power delivered in December and January. The payment ran into a dispute after
MSEB slapped penalty notices of Rs 401 crore on DPC for its failure to supply
power within three hours of the demand being placed.But MSEB has paid $24
million for February. And a payment of $31 million was made for March on
Thursday.
The $3 billion Dabhol project is the largest foreign investment made in India
to date. Issuing the preliminary termination notice could enable Dabhol to
suspend deliveries as it negotiates payment disputes.While a preliminary
termination notice is the first of three steps that could potentially lead to
the abandonment of the project by Enron, analysts have described the decision
as a ++procedural,, move consistent with DPC,s negotiating strategy to
recover overdue payments from the MSEB.
After the company issues the preliminary termination notice, step two would
be an official termination notice, and step three would be a notice that the
company is surrendering control of the project. If the project is terminated,
the government of India will have to take a hit of $300 million besides
paying bills of Rs 1,500 crore for the next one year to Enron as penalty.
++Our (Centre,s) liability, if Dabhol power project is terminated, would be
one year,s electricity bill and a termination fee of $300 million,,, Power
Secretary A K Basu said.++Contractually, the Centre will have to pay one year,
s electricity bill, totalling at present prices about Rs 1,400-1,500 crore,
and take over DPC,s debt, which stands at around $300 million, if the project
was terminated,,, Basu said in Delhi. Dabhol Power is in the process of
completing the second phase of the 2,184-megawatt power-plant project, which
is 95 per cent through.
While the international lenders to the project are pressurising the company
to get out of the project, Indian lenders, led by IDBI, are asking the
company to reconsider its decision on its termination notice. During the
meeting in London, MSEB which holds a 15 per cent stake in the project, had
strongly opposed DPC,s move to authorise Cline and McGregor to issue notices
for termination.
MSEB Chairman Vinay Bansal and technical director Prem Paunikar * both
directors on the DPC board * and the state principal secretary (energy) VM
Lal, an invitee to the board, raised the issue at the board meeting in
London. MSEB claimed that DPC was needlessly ++threatening,, to issue various
arbitration notices and thereby interpreting the clauses of PPA in
isolation.In recent weeks, Dabhol has raised the stakes in its spat with the
MSEB, delivering a notice of political force majeure to Maharashtra * a step
typically invoked to dissolve a contract in case of an emergency like a war,
coup, or a similar radical political event. In this case, DPC,s move was
viewed as a threat to stop providing electricity.DPC has come under fire
because of the relatively high cost of its power. Critics object to the
company charging Rs 7.1 a kilowatt-hour for its power, compared with around
Rs 1.5 a kilowatt-hour charged by other suppliers.
THE HINDU, Friday, April 27, 2001
Offer of renegotiation 'too late': Enron, By Mahesh Vijapurkar
MUMBAI, APRIL 26. The Enron-sponsored Dabhol Power Company, which last night
authorised its local management to issue a notice of termination of its Power
Purchase Agreement (PPA) with the Maharashtra State Electricity Board, has
decided to keep a stiff upper lip. This, in turn, has stoked speculation that
the switching off of power from its Phase I plant was imminent, while in
reality, a lengthy procedure has to be followed as prescribed within the PPA.
As one source familiar with the PPA told The Hindu, ``it is not sudden death
of the project'' and in all probability, the DPC, vexed with the
developments, including sharp and pointed observations by the Godbole
Committee, has chosen to only arm itself with a serious option. ``This would
only eventually come into effect. It is not an overnight operation and a lot
of legal work is involved''. Apparently, the DPC intends to do some
arm-twisting.
At the board of directors meeting in London, which Maharashtra was initially
disinclined to attend but later used the forum to put across its contentions
on the project, the DPC squarely told the MSEB nominees on the board that the
offer of renegotiation had come rather ``too late''. It also said it did not
see any room for optimism about the outcome. It did not, however, rule out
the option of talks, thus underscoring the possibility that the decision to
authorise termination was a new weapon.
The Maharashtra Chief Minister, Mr. Vilasrao Deshmukh, had hoped that DPC
would not take any ``harsh step'' which would cause lot of damage to the
interests of both the independent power producer and the Government and today
he expressed his dismay. In fact, the mandate of the team that went, on the
strength of its stake in the DPC, was to put across the idea that negotiation
was the requirement and not confrontation.
Echo in LS
The Enron issue also echoed in the Lok Sabha today where the Power Minister,
Mr. Suresh Prabhu, said that scrapping of the agreement would cost the Centre
Rs. 2,840 crores, whose liability in the project agreement was limited. The
Centre's liability in case of termination is one year's electricity bill and
a termination fee of $300 million.
Blow to FIs
The termination could prove to be a serious blow to the Indian Financial
Institutions (FIs) which, under the leadership of the IDBI, were trying to
convince the other lenders of the project against the notice. The exposure of
Indian FIs in the project is understood to be not covered by any guarantee
either of the Centre or the State.

THE TIMES OF INDIA, Friday ,27 April 2001
Enron ready to pull out, but lenders say wait

The Dabhol Power Company board, which met on Wednesday in London, authorised
the company management to issue a termination notice to the Maharashtra State
Electricity Board. The company, however, may not pull out of the project yet,
considering its lenders, who met on Monday, opposed such a move and favoured
renegotiations. Sources present during both the meetings said that though
foreign lenders supported Enron on the termination issue, domestic financial
institutions, led by the Industrial Development Bank of India, prevailed over
the deliberations to oppose any such drastic move. Enron needs the lenders'
consent to file a pre-termination notice for pulling out from the project.
The decision to empower DPC chief Wade Cline to issue a termination notice
was taken with six votes in favour against a single IDBI vote against such a
move.
Another significant development during the entire proceedings was that the
financial institutions made it clear that further funding of Phase II of the
project will depend on the Government of India assuring payment mechanisms.
Institutions are yet to disburse about 30 per cent of the sanctioned package,
which is crucial for completing the Phase II expansion project. ``The board
has given powers to Wade Cline to issue a pre-termination notice. But the
meeting quite unanimously felt the need of the hour is not to terminate the
project but to initiate serious re-negotiation proceedings,'' said MSEB
Chairman Vinay Bansal, who attended the board meeting. ``MSEB presented their
views to the board members and it was understood by Enron which also included
the Rs 401 crore penalty issue which is heading for arbitration proceedings.
``We have also made it clear that the tariff structure of Enron is quite high
and a downward revision of tariffs is unavoidable," Bansal added.
``They cannot issue a termination notice without our consent since our
exposure in the project is quite large and the lenders should approve any
plans in that direction,'' said a top banker who was present during the
lenders' meet. ``There is a general consensus that the project must be
completed and the proposal to terminate the PPA should be kept in abeyance,''
he added. The global arrangers for the DPC include ANZ Investment Bank,
Credit Suisse First Boston, ABN-AMRO, Citibank and the State Bank of India,
where all these parties conducted separate meetings with the company
officials. However, some bankers said the company can file a termination
notice even if one lender with a minimum 5 per cent exposure on the project
favours such proceedings.
Meanwhile, in a clear reversal of roles, Maharashtra Chief Minister Vilasrao
Deshmukh said that the state government was not keen on terminating the PPA.
``We will ask them to refrain from taking any such harsh steps since that
would be bad news for all of us, including DPC,'' Deshmukh said. Deshmukh was
echoing Union Power Minister Suresh Prabhu's sentiments, who said that the
government wanted an amicable settlement of the payment row. He, however,
added that termination of the project would not hurt foreign investments, and
dismissed warnings by analysts that winding up the $2.9 billion project would
be a blow to India's efforts to woo foreign investors.
The DPC has already slapped one conciliation notice on the Centre and three
arbitration notices on the state government over non-payment of dues
amounting to Rs 213 crore and interest towards the bills due for December
2000 and January 2001. Meanwhile, MSEB officials said in Mumbai that the
March bills amounting to Rs 134 crore was paid on Thursday as protest
payment, despite the dispute over the amount.
When asked on the future course of action, Bansal said it was up to the DPC.

THE HINDU BUSINESSLINE, Friday, April 27, 2001
DPC board authorises MD to issue PPA termination notice
THE board of directors of Dabhol Power Company (DPC) has authorised the
Managing Director, Mr Neil McGregor, to issue the notice of intent to
terminate its power purchase agreement (PPA) with the Maharashtra State
Electricity Board (MSEB) ``at an appropriate time''. The decision was taken
at a board meeting held in London yesterday. ``While MSEB, which is an
`interested party', was not allowed to vote, it made a presentation
clarifying its stand on the matter,'' a senior State Government official
said.
The resolution to authorise the management to issue the termination notice
was carried by six votes to one. IDBI voted against the decision, the
official said. The serving of the preliminary termination notice will lead to
a six-month ``suspension period''. According to clause 17.8 of the
Termination Procedure, of the PPA: ``Following the giving of a preliminary
termination notice, the parties shall consult for a period of six months (or
such longer period as they may agree) as to what step shall be taken with a
view to mitigating the consequences of the relevant event having regard to
all the circumstances...''
IDBI and State Bank of India, the principal Indian lenders, had earlier
persuaded the overseas lenders to hold their consent to the termination
notice for some more time. At least one lender has to consent for the company
to serve termination notice. It is understood that overseas lenders are in
favour of termination of the project and are prepared to consent. However,
domestic lenders are worried about the security of their advances if the PPA
is abandoned mid-way.
According to institutional sources, Indian lenders are trying to get all the
parties concerned to thrash out outstanding issues. The Maharashtra and
Central Governments too are in favour of a conciliation. Mr Vilasrao
Deshmukh, Chief Minister of Maharashtra, yesterday went on record that the
State did not want the project terminated. Mr Yashwant Sinha, Union Finance
Minister, is also understood to be of the same opinion. ``The DPC will now
have to decide what is the `appropriate time' to serve the notice,'' the
official said. MSEB pays Rs 134 crore: Meanwhile, MSEB has paid DPC Rs 134
crore towards its March 2001 bill. MSEB officials confirmed that the bill was
paid `in protest'' today morning. ``They (DPC) had billed us for an amount of
Rs 146 crore. We do not agree with some of the items included,'' a senior
MSEB official said.
THE PIONEER, Friday, April 27, 2001
Enron testing Maharashtra's nerves, T N Raghunatha
Dabhol Power Company (DPC) has begun to put fresh pressure on the Maharashtra
State Electricity Board (MSEB), the Maharashtra State Government and the
Centre for an early resolution to the prolonged dispute between them, if the
DPC Board of Directors' decision to authorise its managing director to serve
a contract termination notice to the MSEB is any indication.
The DPC Board, in its meeting in London on Wednesday, empowered the company
management to sever its power supply agreement with MSEB, a move that could
inflict a financial liability of Rs 2,840 crore on the Centre. The decision
to authorise the DPC management to issue a termination notice to MSEB was
taken by a vote of six to one after the Maharasthra Government
representatives were prevented from voting on the ground of "interested
party".
When contacted, the company's Mumbai-based spokesperson, Mr Jimmy Mogal,
declined to comment on the reports about the decision taken by the DPC Board.
"We have nothing to say on the reports emanating from London. We will express
our views after a few days," he said. However, Maharashtra Chief Minister
Vilasrao Deshmukh on Thursday termed the DPC board's decision as
"unfortunate". "We have already requested the company not to take any harsh
decision", Mr Deshmukh said in Mumbai.
Official sources in the State Energy Ministry interpreted the DPC Board's
decision as a pressure tactic employed by the Enron subsidiary to force the
MSEB to clear the pending power bills without any further delay. Through its
tough posture, the DPC wants to make its position stronger before it can
formally agree for re-negotiations with the MSEB, the Centre and the State
Government for cutting the price of power supplied by it to the State
electricity board. The sources said that the DPC's reported decision to
authorise its managing director to stop electricity supply to the MSEB did
not mean that the Enron subsidiary would actually go ahead with the scrapping
of the power contract with the MSEB.
"If anything, the DPC's reported decision is to mount additional pressure on
the MSEB for clearance of pending power bills and put itself in a stronger
position in settling its dispute with the MSEB. As part of its plan to arm
itself with powers to break a contract in case situation goes beyond its
control, the DPC had recently served a political force majeure to the MSEB,
the Centre and the State Government," the sources said.Not surprisingly, the
DPC's London decision comes on the heels of the Maharashtra Government's
decision to set up a high-level committee, comprising representatives of the
MSEB, the Centre and the State Government to re-negotiate with the Enron's
subsidiary company for reducing the cost of power supplied to the State
electricity board.Meanwhile, amidst the threat of a possible termination
notice hanging on its head, the MSEB on Thursday made a "protest payment" of
the Rs 134 crore disputed amount towards March bill of Rs 146.64 crore to DPC.
riday, April 27

THE TELEGRAPH, Friday, April 27, 2001

ENRON SIGNAL TO SWITCH OFF DABHOL POWER

Enron today took the first decisive step out of the controversy-ridden Dabhol
Power Company when it won an authorisation from the company,s board to stop
sale of power to Maharashtra State Electricity Board (MSEB).
The meeting of the company, of which the Houston-based energy giant holds 65
per cent and the MSEB 15 per cent, was attended by state energy secretary V M
Lal and MSEB technical director P Paunikar and it came days after its lenders
discussed payment problems and a possible termination.The Centre,s liability,
if Enron decides to snap the agreement, will be a year,s power bill and a
termination fee of $ 300 million. However, the company will have to wait for
six months from the day it serves the notice before it pulls the plug.The
Centre shrugged off the move, saying there would not be any adverse effect on
foreign investment in power if Enron walks out. &We do not see FDI inflows
into the power sector being hit,8 power minister Suresh Prabhu said.MSEB
officials said the ball is now in the court of DPC, which said its corporate
policy did not allow it to comment on proceedings at board meetings. The
decision coincided with a Rs 134-crore +protest payment, by the cash-strapped
power board as part of the March bill worth Rs 146.64 crore.
There was speculation that MSEB coughed up the amount to cool frayed tempers
at Enron,s hub in Houston, and because it was rattled by the sudden turn of
events in the past few days during which the dispute had come to a head. MSEB
officials brushed away the allusions, saying the cheque was ready on
Wednesday but could not be handed over to DPC because of the state-wide
bandh. &We have a disputed payment of Rs 12.64 crore, which will be taken up
at the dispute-resolution forum,8 a board official said. Last week, DPC told
the state government and MSEB it would no longer accept protest payments in a
move to fortify its legal position.
MSEB officials say Bechtel and General Electric, the other partners who hold
around 20 per cent in DPC, are willing to go along with Enron Corp in
terminating the deal but financial institutions such as IDBI are not game
because it puts their loans at risk. Investments made by Indian institutions
are not covered under the Centre,s and state,s counter-guarantees, unlike
those made by international lenders.Maharashtra chief minister Vilasrao
Deshmukh called Enron,s decision unfortunate. &We had told state government
officials attending the Enron board meeting to stop the company from winding
up its operations in the state as it will harm both parties.8
THE STATESMAN, Friday, April 27, 2001
Enron threatens to pull out

 The Enron crisis deepened with the Board of Directors of the Dabhol Power
Company deciding to authorise the managing director, Mr K Wade Cline, to
serve a notice of termination on the contract for the first phase of the $2.9
billion power project.The decision, which could lead to the cessation of
Dabhol,s power supply to the state, was taken at the meeting held yesterday
in London according to reports quoting the chairman of the Maharashtra State
Electricity Board, Mr Vinay Bansal.
While DPC officials refuse to comment on anything, it is learnt that MSEB was
itself prepared to serve a legal notice of termination just two days before
the meeting.MSEB was said to have been dissuaded by the Nationalist Congress
Party president, Mr Sharad Pawar, and union power minister Mr Suresh Prabhu,
who had talks in New Delhi with the Maharashtra chief minister, Mr Vilasrao
Deshmukh, and an MSEB delegation last Monday.
The state government has been served two arbitration notices while the Centre
is ready to go for conciliation with the DPC for failing to honour its
counter-guarantee.Further, the DPC has already slapped a notice of political
force majeure which protects itself against undeserved claims in the event of
exigencies that force it to take an extreme step.The union power minister, Mr
Suresh Prabhu, contended in Delhi that since DPC contributed only 0.7 per
cent of the total energy output of the country, its termination would not
have such a phenomenal impact on the power situation.
However, if terminations proceedings go through, Enron Corp, a 65 per cent
share-holder in the Dabhol Power Company, would stand to net a hefty amount
in damages. The union power secretary has been quoted as saying that
termination of the DPC would cost the Centre Rs 1,800 crore, which is the
total of one years, electricity bill and a termination fee of $300 million.
According to an energy analyst, Mr Pradyumna Kaul, the total liability would
not cross Rs 350 crore. However Mr Prabhu said in the Lok Sabha today that
the that scrapping of the agreement would cost the Centre Rs 2,840 crore.It
is learnt that on 20 April, Mr Deshmukh had given the go-ahead to the MSEB to
prepare a legal notice to be issued to Enron during the meeting of the DPC,s
Board of Directors on Wednesday. At the meeting, the energy minister,
Padamsinh Patil, energy secretary, Mr Vinay Mohan Lal and MSEB chairman Mr
Vinay Bansal, were also present.The notice was prepared over the past weekend
and taken by the delegation when they called on Mr Prabhu on 24 April.
However, the politicians convinced them that Enron would not get tough, given
its huge stake in the project, and that such a notice would not be necessary.
The meeting thus ended with the decision to renegotiate the power tariff,
with Enron,s consent.
Among those present at the London meeting were Mr Lal, Mr Bansal and MSEB
technical director, Mr P Paunikar, in their capacity as directors. However,
they abstained from voting since they were deemed an interested party. The
only vote to go against the decision was that of the IDBI which is also
represented on the board, it is learnt.The chief minister, Mr Vilasrao
Deshmukh, said the state was not in favour of terminating the project. This
could mean that the latest manoeuvre to arm-twist the Indian authorities
could achieve its immediate target of getting the arrears accumulated over
the past three months cleared.The MSEB owes Enron Rs 146.64 crore for March
2001 and Rs 229 crore for December 2000 and January 2001.The Centre today put
up a brave face on Enron,s decision saying there would not be any adverse
effect on foreign investment in power sector in the country, PTI reported
from New Delhi.
&There will be no adverse impact as a result of any action by any domestic or
foreign company. As far as we are concerned there will be no adverse impact
on FDI in power sector,8 Power Minister Suresh Prabhu told reporters when
asked about DPC,s decision to authorise management to issue a termination
notice to MSEB.Emphasising that there would be no fallout of such decision,
Prabhu said after the meeting of the Cabinet Committee on Economic Affairs
&we are expecting cooperation from many Scandinavian countries as well as
European nations in the power sector.&In fact not only the Power Minister but
also the Prime Minister of Norway was here to inaugurate a seminar on power
and he promised lot of cooperation in the sector.8

MID DAY
'DPC may not wind up'
Maharashtra Chief Secretary V Ranganathan has said that though Neil McGregor,
managing director of the Dabhol Power Corporation (DPC), has been given
complete powers with regard to DPC's operations in the state, including the
authority to wind up operations, it does not necessarily mean that McGregor
will issue such a termination notice. McGregor was given the powers at a
meeting of the DPC board in London on Wednesday. Ranganathan said that state
officials, including Maharashtra State Electricity Board (MSEB) Chairman
Vinay Bansal and Power Secretary V M Lal, have reported back to him about the
meeting in London.
With regard to the state's failure to pay Enron, Ranganathan said, " Bills
are prepared as per the Power Purchase Agreement (PPA) and DPC owes some
money to us. Our people informed Enron officials about this.. In fact, there
was no reason to give powers to the MD to slap a termination notice."In the
London meeting, MSEB and Industrial Development Bank of India (IDBI)
representatives insisted that the DPC must pay Rs 411 crore since it could
not supply power whenever needed.
Chief Minister Vilasrao Deshmukh has already termed as unfortunate the
decision of the board of the Enron-promoted DPC to give McGregor powers to
wind up operations. Deshmukh added, " We have already requested Enron not to
take any harsh decision."Deshmukh had earlier said, " We have directed state
Government officials attending the DPC board meeting to desist the energy
company from winding up operations in the state, as it would be harmful to
both of us."
Enron officials are keeping mum on the issue. McGregor said, " I am not going
to give any comment."

MID DAY, April 27, 2001
Enron offers 'no comment' on renegotiation, H S Rao
A crucial meeting of the Board of Directors of the Dabhol Power Company
(DPC), promoted by the US energy major Enron, was held here yesterday
apparently to discuss fate of its $900-million power project in Maharashtra,
but there was no official word on the Indian and state Governments' decision
to renegotiate the contract.
An Enron spokesman declined to divulge what transpired at the meeting, saying
the issues discussed at the meeting were 'confidential' . " We have not
received any direct communication. Unless we get it and evaluate the details,
we have no comments to make," the spokesman said when asked about the
proposed decision on re-negotiation of the project in which the Maharashtra
State Electricity Board (MSEB) has 15 per cent stake.
Asked whether the Board had taken a decision on empowering DPC Managing
Director Neil McGregor to wind up its operations in India, the spokesman said
he had nothing to say on them. Enron has reportedly authorised Mcgregor to
look at various options including selling the company's stake in DPC.
Maharashtra Chief Minister Vilasrao Deshmukh said in Mumbai that the state
Government would pay up the undisputed dues to the company. He said the
Maharashtra government " is not in favour of terminating the 2184-MW project,
but wanted an amicable solution to the imbroglio."
MID DAY, Friday, April 27, 2001,

Committee to renegotiate Enron deal
A committee to renegotiate the Power Purchase Agreement with the Dabhol Power
Company will be appointed by this evening, Chief Minister Vilasrao Deshmukh
said today. Addressing media persons after his meeting with the noted social
reformer Anna Hazare at his official residence Varsha, Deshmukh said the
committee would be formed by this evening or by tomorrow, at the most.He
termed as unfortunate the Enron board decision empowering DPC chief Neil
McGregor to serve a preliminary termination notice on the Maharashtra State
Electricity Board and said the state was willing to negotiate the issue with
power company.
" Renegotiations will be held as per the suggestions made by the Godbole
committee and the center will also depute its representative on the
renegotiating committee. We don't want to take any hasty decision," Deshmukh
saidHe pointed that the only bone of contention with the DPC had been its
expensive tariff and hoped that the issue would be resolved amicably.When
pointed that the Enron board had taken a decision to serve the notice despite
state9 s willingness to appoint a renegotiating committee, Chief Minister
said it was unfortunate.
Earlier, in his meeting with Hazare, Deshmukh promised to make necessary
amendments to the Right to Information law recently passed by the state so
that the information was easily accessed by the common people. He also gave a
patient hearing to Hazare on his complaints of corruption in various state
departments and promised action against guilty after a thorough inquiry
within three months.

AFTERNOON, APRIL 27, 2001
 'ENRON'S ON!'
State govt. to renegotiate Dabhol Power Project , By Hubert Vaz
The US power giant, Enron Power Corporation's willingness to wrap up the
Dabhol Power Project and leave the shores may not actually materialise,
though the Dabhol Power Company chief, Mr. Wade Cline, has been authorised to
do so, since the lenders for the project would have a decisive say in the
matter.
Disclosing this, Chief Minister Vilasrao Deshmukh confirmed this morning that
the state government would churn out a compromise formula by which the power
project at Dabhol could be continued, and at the same time Enron did not feel
slighted. "Enron has not yet conveyed to us about this decision. We are
waiting for their letter," he said. When asked what sort of compromise the
state government plans to forge, Mr. Deshmukh said, "Let our officers come
back. After that we will decide a future course of action. But we are
definitely going in for renegotiation of the project. It is very difficult to
predict the outcome of Enron's decision but as of now the project is still
on." When asked whether the project could be moved to another state, if wound
up from Maharashtra, Mr. Deshmukh said, that was not possible as per the
terms of the agreement between the US company and the state government.
However, it was difficult for the project to move out of the state itself, he
indicated. He also confirmed that both parties would face considerable losses
if the project was terminated.
The board of directors of the Dabhol Power Company, which met in London on
Wednesday, decided to put an end to all controversies surrounding the project
once and for all by empowering the DPC chief to terminate the project, if he
deemed it fit. However, this decision, as of now, does not necessarily
indicate the death knell for the project. The Enron project, which had been
riddled with controversies right from its inception, had been a pretext for
the political parties in the state to drag each other on the mat from time to
time. The previous Sena-BJP government, which had been out to terminate the
project, however, chose to continue with it following renegotiations with
Enron's top visiting officials like Ms. Rebecca Mark. And, the Democratic
Front government inherited the controversial project when the governments
changed hands a year and a half ago.
Meanwhile, State Energy Minister Dr. Padamsinh Patil, when contacted at the
Osmanabad Circuit House, said the state government and the central government
have decided to appoint a joint committee to renegotiate the project with
Enron. "It is not easy for them to walk out of the project just like that.
They will have to go in for litigation and this would prove costly for both
sides," he said. In case the project is terminated, the government can still
manage the power needs of the state, though it would be a bit tough job, he
added.


Please find attached the captioned report for the week ending June 1.  A
topic / key word index follows below, in order to facilitate coming up to
date on topics of interest to you.  If you wish to add or delete names from
the distribution, please advise.   Should you have any question on any of the
items, or require additional information, please do not hesitate to contact
us.
Thanks.  Ray

Billing: 26,30
Distribution service agreement: 27
Financial matters: A, 12
Interconnect: 17,21,25,28
Meter service agreement: 7
Motion oral argument: 4
Operating Agreement: 18
PGE: 21
Participating generator agreement: 1,2,3,6,8
Power Sale Agreement: 13,16
Power Sale Tariff: 11(EPMI), 14,19,20,23,24,29,32
RTO: 5
Transmission Service Agreement: 18,22,31
Transmission Tariff: 9,10,15,16,21


Attached hereto are marked and clean copies of a further revised version of the Interim Master Terms Agreement (Financial).  The changes related primarily to  the Adoption of Guaranty.  Please call if you have any questions or comments.  Thanks, Anne


If you were wondering why Hebert, speaking at the meeting  said that he would
certainly be viewed as a Grinch, here is a transcript of a poem read on NPR
last week.  It is meant to be read with the same timing as Dr. Suess's
Grinch.  Thanks to Leslie Comnes (a California ratepayer whom I hold in high
regard) for transcribing:

The Whos and Who's Whos in the great Golden State
Love the Christmas light season, the lights are first rate.
They glitter, they sparkle all red, white, and blue-ish,
They impress even Whos who are ACLUish.
They dazzle the neighborhoods hour by hour,
'til someone says, "Shut them off! We're out of power."
Just who is the source of this Christmas light pinch?
Does the great Golden State have its very own Grinch?
Does the smog belching, grease guzzling junk TV creep
Take lights out of Christmas, so children will weep?
We'll catch and declaw him, it sounds rather simple,
Yet much more complex than a Florida dimple.
We'll trap him by leaving a late evening snack out,
Not that he'll see it at night in a blackout.
The Whos grasp at straws, "There's one man who can save us,"
And they hang their Who hopes on their governor, Davis.
"He'll light the state tree, and he'll keep it ablaze,
and the white fir will glow for the next 30 days!"
The Gov lights the tree, and he says with a scoff,
"30 days? 30 minutes! Now turn that thing off!"
But Davis a Grinch? That would be quite a climb,
His gig's raising money, it takes all his time.
"Who, then?" demand all the Whos and Who's Whos.
"Who cut the juice? Tell us now, we need clues!"
Well, now some blame the cold in the arctic Northwest,
But others say that power plants close for a rest.
Some say it's FERC, yet don't know what FERC means,
But they think that some FERC jerk messed with power machines.
Some blame El Nino, and some cite Cal-ISO [?],
But no one will rule out H. Ross Perot.
The blackouts are rolling out Stage 1, 2, and 3.
They're saying, "Cut power, de-sparkle your tree!"
Men walk on the moon and invent penicillin,
So wouldn't you think they could find us a villain?
The Whos and Who's Whos in the great Golden State
See Christmas light evenings start two hours late.
Is it too much to ask, just one culprit to lynch?
It's just so unfair that we can't find a Grinch!

--Dan Bernstein, Columnist, Press Enterprise, Riverside, CA


Kevin,

What was the offer price from KMI on the Sonoran Pipeline Project?

Kim.

 -----Original Message-----
From: 	Hyatt, Kevin
Sent:	Thursday, November 08, 2001 5:27 PM
To:	Wadle, Susan; Alters, Dennis; Campbell, Larry; Cebryk, Doug; Haden, Sarah; Lichtenwalter, Blair; Lokey, Teb; Matthews, Ron; McGee, Johnny; Shafer, John; Taylor, Gina; Veatch, Stephen; Watson, Kimberly
Subject:	Sun Devil update meeting Monday 11/12 cancelled

I will be travelling on 11/12 so here's the update:

Sonoran Pipeline -  Received offer price from Kinder Morgan to purchase capacity on their project.
Marketing -
	Panda Energy - Presented capacity offer to Panda on 11/6.  They liked the swing capability, but fuel is an issue.  They will present the offer to their partner 	TECO.  We expect their counter offer by week end 11/16.
	AZ Public Service -  Scheduled next meeting for 11/16 in Phoenix.  Working on finishing Pre-pay and SFV rate designs.
El Paso / FERC  - No word yet on direction of Full Requirements settlement.
Copper Eagle Gas Storage - No word yet on our submitted bid.

Leave me a voicemail if you have questions.

thanks


Hey.

When you work on the first of a new month and is starting a new inc or
service sheet please use the Service and Trading Template and Save as. Do not
save last month sheet as the next month sheet . This messes up all the
formulas. The templates are in the same folder as the Inc sheets.

Geir


FYI - Let's discuss
---------------------- Forwarded by Sally Beck/HOU/ECT on 10/18/2000 05:36 PM
---------------------------

Connie Sutton
10/18/2000 01:27 PM
To: Shona Wilson/NA/Enron@Enron, Sally Beck/HOU/ECT@ECT
cc:
Subject: Hot off the press!

The article is very informative.
---------------------- Forwarded by Connie Sutton/HOU/ECT on 10/18/2000 01:25
PM ---------------------------

CPapousek@aol.com on 10/18/2000 10:16:19 AM
To: Connie.Sutton@enron.com
cc:
Subject: Hot off the press!

Connie:

At risk of self promotion, please check this article out.  Also pass on to
Sally if possible.  I hope all is going well for you.

Chris

 - Oct13.00desk.pdf


Okay, I've already had questions about statements in this memo.  My understanding of this is as follows:  In the event of bankruptcy, employees are guaranteed to be paid for work already completed up to an amount of $4650 (If the company were to file next week, this amount should be small since payday was today).  In addition, employees are paid for hours worked after bankruptcy at their normal salary or an amount the judge determines and such payments are not capped at $4650.

 -----Original Message-----
From: 	Enron Announcements/Corp/Enron@ENRON   On Behalf Of Ken Lay - Office of the Chairman@ENRON
Sent:	Friday, November 30, 2001 5:58 PM
To:	All Enron Employees United States Group@ENRON
Subject:	UPDATE - Reporting to Work Next Week

Many of you have asked whether you should come into the office next week, especially if there is no guarantee of being paid for time worked after today.  We want to encourage you to come to work.  We continue to consider every option available to us as a company; and unfortunately, restructuring through bankruptcy is one of those options.  Your continued efforts during these trying times are critical to the company as we go through this decision making process.

I still cannot say with certainty if or when we will file for bankruptcy.  But you should be aware that, in general, the bankruptcy code provides protection for employee salaries and wages earned within 90 days of a petition filing to the extent of $4,650 per employee.  I want you to know that if we file a bankruptcy petition, we intend to seek approval by the bankruptcy court to exercise that protection immediately and pay you for your time worked prior to any petition filing according to our regular payroll practices.  Additionally, Enron would be obligated and will pay salaries and wages earned after a bankruptcy filing. For Enron, where our value is directly tied to our employees, making sure that we meet these obligations will be a high priority.

We are continuing to evaluate the ongoing resource needs of the company for each potential option we might pursue.  Of course, until we finalize those business decisions, we cannot make that determination.  I know that this prolonged process is agonizing for you.  I can only continue to assure you that we will notify you of your employment status as soon as we are able to do so.

While terminated employees will tap into their own network of contacts as they look for new employment, we hope to do what we can to assist them.  We will tap into the contacts we have as a company to aid terminated employees in their job search.  We have already been in touch with several employers and many are interested in Enron alumni.  We will share more information on these efforts soon.

I appreciate your continued patience and cooperation.

Ken


Attached is the Year-to-date Deal Report through 11/14/01.

Lex Carroll
Enron East Power Marketing, Inc.
Midwest Origination
713-853-5426


Hey Drew,

I'm working on this!!!


Over the last couple of years we have had numerous social events including holiday parties, company-sponsored outings to Edgefield, post-quarterly meeting outings, and going away parties.  While I hope that people thoroughly enjoy themselves, I ask that you keep in mind that we all have to act professionally and responsibly during and after these events.  I have been working with Chris Calger and Amy Fitzpatrick to put together some guidelines for company-sponsored social events:

The company will provide soft drinks, beer, and wine.  You may choose to order other beverages at your expense.
Functions will run for a specified period of time.  If there is an open bar, we will establish a time certain after which Enron will not pay for any additional drinks.
If you require assisance getting home, please contact a taxi and submit the fare for expense reimbursement with no questions asked.  The last thing in the world we want is to have people break the law or put their safety and the safety of others in jeopardy.

Let me know if you have any questions.  Thanks for your cooperation.


---------------------- Forwarded by Randall L Gay/HOU/ECT on 09/20/2000 02:22
PM ---------------------------
To: Randall L Gay/HOU/ECT@ECT
cc:
Subject:


I'll be there.

Errol

Jeffrey C Gossett@ECT
04/25/2001 05:04 PM
To: David Baumbach/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, Phillip M
Love/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT, Russ Severson/HOU/ECT@ECT, John
Valdes/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Martha
Stevens/HOU/ECT@ECT
cc:

Subject: Irena

We got Irena a day at the spa during the week.  And for those of you that are
here on Friday,  I would like to take her to lunch as well.

Let me know if you are coming.


FROM GERALD NEMEC:

Attached are the finalized letter agreements you have been waiting on.


George, I'd like to set up a meeting this week (and will have Jennifer set it
up) about this and the way forward for us.   What is our strategy, etc, with
respect to this project.

Jeff

 -----Original Message-----
From:  Mcclellan, George
Sent: Wednesday, May 30, 2001 6:27 PM
To: Staley, Stuart; Bradley, Peter; Grossman, Samuel; Peters, Jez; Beyer,
Michael J
Cc: Shankman, Jeffrey A.; McConnell, Mike; Gresham, Wayne; Erickson, Cheryl
Subject: BHP - Vulcan

BHP has advised that they will not pursue the Vulan (Project Fireball)
opportunity.  They intend to concentrate on completing their merger with
Billiton, and settling issues in Indonesia and China.

We will continue to look at Vulcan independently - and evaluate the need (if
any) for a partner down the road.

Note to coal guys - Dave Murray (ex Billiton) will run the thermal group and
Bob Kirkby (ex BHP) will run the coking coal group for BHP Billiton - both to
be located in Melbourne.  Mike Oppenheimer will be doing something outside of
the coal group.

George


Can you please work on attaching the portcalc code to the Bankruptcy Portfolios first thing Monday morning.  Please reply to this e-mail when it is complete so we can begin testing the transactions we moved.

Thanks,
Stacey

P.S.  Zhiyun, Thank you so much for the option data.

Stacey


Attached is a letter to Sue Haynes and Samantha Ray re confidentiality.


Start Date: 1/10/02; HourAhead hour: 17;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011017.txt


Lets discuss.
---------------------- Forwarded by Phil DeMoes/Corp/Enron on 01/25/2001
08:58 AM ---------------------------

"James Jessee" <james.jessee@piedmontng.com> on 01/24/2001 12:38:17 PM
To:
cc: "Keith Maust" <keith.maust@piedmontng.com>, "Scott Searcy"
<scott.searcey@piedmontng.com>

Subject: Piedmont Capacity RFP

Please find an attached Word file that describes Piedmont's RFP. The attached
Excel file provides the current rates and fuel for the capacity being offered
for release.  Please let me know if you have any questions or problems with
the
attchments.
Jim Jessee
704-364-3483  x6490

(See attached file: Capacity Release 2001-2002.DOC)(See attached file:
Release01.XLS)

 - Capacity Release 2001-2002.DOC
 - Release01.XLS


---------------------- Forwarded by Sara Shackleton/HOU/ECT on 08/31/99 12:50
PM ---------------------------
From: Brent Hendry AT ENRON_DEVELOPMENT@CCMAIL on 08/31/99 05:08 PM
To: Mark E Haedicke@ECT, Mark - ECT Legal Taylor@ECT, Sara Shackleton@ECT,
Patricia Cini@ECT
cc:
Subject: S?O PAULO- PHONE LIST

FYI
---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on
31/08/99 01:07 PM ---------------------------

Margaret Santos
31/08/99 03:23 PM

To:   Rio de Janeiro Brazil - Office Staff, Salvador Brazil - Office Staff,
Cuiaba Brazil - Office Staff, Buenos Aires Argentina - Office Staff, Melaine
Fernandes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rubena
Buerger/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lisa
Wolfe/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject:  S?O PAULO- PHONE LIST

DEAR COLLEAGUES,

SOME CHANGES WERE MADE AT OUR S?O PAULO PHONE LIST.
IF YOU HAVE A PRINTED LIST (DATE 07/13/99), PLEASE, PRINT THE UPDATED ONE.

I'M ATTACHING TWO FILES: PHONE LIST and ASSISTANTS (with the names of the
bosses and their respective assistants)

NEXT UPDATED LIST ON   SEP.30.1999

THANK YOU ALL !!!

(See attached file: PHONE_LIST.xls)                           (See attached
file: ASSISTANTS.xls)

MARGARET SANTOS
Receptionist - S?o Paulo

 - PHONE_LIST.xls - ASSISTANTS.xls


Note: forwarded message attached.

__________________________________________________
Do You Yahoo!?
Yahoo! Auctions - Buy the things you want at great prices.
http://auctions.yahoo.com/
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NEWS from CPSC

U.S. Consumer Product Safety Commission

Office of Information and Public Affairs	Washington, DC 20207

FOR IMMEDIATE RELEASE	?
March 3, 1983	?
Release # 83-008

Commission Closes Investigation Of FPE Circuit Breakers And Provides Safety
Information For Consumers

WASHINGTON, D.C. -- The Consumer Product Safety Commission announced today
that it is closing its two year investigation into Federal Pacific Electric
Stab-lok type residential circuit breakers. This action was taken because the
data currently available to the Commission does not establish that the
circuit breakers serious risk of injury to consumers.

The Commission investigation into Federal Pacific Electric (FPE) circuit
breakers began in June, 1980, when Reliance Electric Co., a subsidiary of
Exxon Corporation and the parent to FPE, reported to the Commission that many
FPE circuit breakers did not fully comply with Underwriters Laboratories,
Inc. (UL) requirements. Commission testing confirmed that these breakers fail
certain UL calibration test requirements. The Commission investigation
focused primarily on 2 pole residential circuit breakers manufactured before
Reliance acquired FPE in 1979.

To meet UL standards, residential circuit breakers must pass a number of
so-called "calibration tests." The purpose of these tests is to determine
whether the circuit breakers will hold the  current for which they are rated
and also automatically open or  "trip" (shut off the current) within
specified time limits if over-loading of the circuit causes current levels in
excess of the breaker's amperage rating. (Overloading can occur because a
consumer plugs too many products into a circuit or due to the failure of a
product or component connected to that circuit). While the Commission is
concerned about the failure of these FPE breakers to meet UL calibration
requirements, the Commission is unable at this time to link these failures to
the development of a hazardous situation.

According to Reliance, failures of these FPE breakers to comply with certain
UL calibration requirements do not create a hazard in the household
environment. It is Reliance's position that FPE breakers will trip reliably
at most overload levels unless the breakers have been operated in a
repetitive, abusive manner that should not occur during residential use.
Reliance maintains that, at those few overload levels where FPE breakers may
fail to trip under realistic use conditions, currents will be too low to
generate hazardous temperatures in household wiring. Reliance believes its
position in this regard is supported by test data that it provided to the
Commission.

The Commission staff believes that it currently has insufficient data to
accept or refute Reliance's position.

The Commission staff estimates that it would cost several million dollars to
gather the data necessary to assess fully whether those circuit breakers
which are installed in homes but which may fail UL calibration tests present
a risk to the public. Based on the Commission's limited budget ($34 million
for fiscal year 1983), the known hazards the Commission has identified and
must address (involving products of other manufacturers) and the uncertainty
of the results of such a costly investigation, the Commission has decided not
to commit further resources to its investigation of FPE's circuit breakers.
However, despite its decision to close this particular investigation, the
Commission will continue its investigation of circuit breakers generally. The
Commission can reopen its investigation of FPE circuit breakers if further
information warrants.

The Commission advises consumers to take certain safety precautions with all
circuit breakers and fuses. Consumers should:

Know your electrical circuit. Know which outlets and products are connected
to each circuit.

Never overload any electrical circuit by connecting too many products to the
circuit. Be particularly careful not to connect several products that demand
high current (such as heating appliances) to a low amperage circuit.

Comply with local building codes in wiring or adding electrical circuits.
Make sure the wiring and devices used in the circuit are connected to a
circuit breaker or fuse of the proper size.

Immediately disconnect any electrical product if problems develop. Have the
product examined by a competent repair person.

Investigate to determine why a fuse blows or circuit breaker  trips. Do not
simply replace the fuse or reset the breaker. If a fuse blows or breaker
trips, it is often a warning that the circuit is overloaded. Check the
circuit for causes of overloading (for example, too many appliances plugged
in, a malfunctioning product, a short circuit). When in doubt, consult a
licensed electrician.

Consumers who have questions concerning circuit breakers, or who wish to
report information relating to their safety, may call the U.S. Consumer
Product Safety Commission's toll-free safety hotline at 800-638-CPSC,
teletypewriter for the hearing impaired at 800-638-8270 (Maryland only
800-492-8104).
The U.S. Consumer Product Safety Commission protects the public from
unreasonable risk of injury or death from 15,000 types of consumer products
under the agency's jurisdiction.  To report a dangerous product or a
product-related injury and for information on CPSC's fax-on-demand service,
call CPSC's hotline at (800) 638-2772 or CPSC's teletypewriter at (800)
638-8270.  To order a press release through fax-on-demand, call (301)
504-0051 from the handset of your fax machine and enter the release number.
Consumers can obtain this release and recall information or report product
hazards to info@cpsc.gov.


John:

Thanks for the information.  Chaim and I were aware that you might be
changing roles at Enron.  I am delighted Kim is slated to take over the
reins working with Vince.  Kim has put in a good bit of time in the past few
years reviewing our stuff and setting up contacts for us in your company.
We will give Kim a call early next week after Easter.  We have made a lot of
progress on MarketPoint, which I think will be of keen interest to your
team.  The introductory activity as well as the ongoing, inhouse
architecture are both improved relative to what you and your people were
able to review, and I anticipate you will be pleased and impressed.

John, it isnt that easy for you to get away from us!   Remember the story of
the tar baby.  (Just kidding.)  All the best, and I hope we get the chance
to serve you and make your organization even better.

Dale

>  -----Original Message-----
> From:  Goodpasture, John [mailto:John.Goodpasture@enron.com]
> Sent: Thursday, April 12, 2001 9:03 AM
> To: chaim.braun@altosmgmt.com
> Cc: Dale M. Nesbitt ; Kaminski, Vince; Watson, Kimberly
> Subject: MarketPoint Gas Model
>
> Dear Mr. Braun:
>
> As I mentioned, I have recently been reassigned here at Enron.  Although I
> am still in the Enron Transportation Services group, I am no longer the
> most appropriate contact for consideration of the Altos gas model.  I
> would suggest you contact Kim Watson at 713-853-3098 or of course, Vince
> Kaminski, who will remain very much a part of the decision process.
>
> Regards,
>
> John Goodpasture
>
>
>
>
>
>
>
>
>
>
>

 - winmail.dat


Sorry, can't do it on Thursday, but what about Friday sometime?


Phillip, Scott, Hunter, Tom and John -

Just to reiterate the new trading guidelines on PG&E Energy Trading:

1.  Both financial and physical trading are approved, with a maximum tenor of
18 months

2.  Approved entities are: PG&E Energy Trading - Gas Corporation
    PG&E Energy Trading - Canada Corporation

    NO OTHER PG&E ENTITIES ARE APPROVED FOR TRADING

3.  Both EOL and OTC transactions are OK

4.  Please call Credit (ext. 31803) with details on every OTC transaction.
We need to track all new positions with PG&E Energy Trading on an ongoing
basis.  Please ask the traders and originators on your desks to notify us
with the details on any new transactions immediately upon execution.  For
large transactions (greater than 2 contracts/day or 5 BCF total), please call
for approval before transacting.

Thanks for your assistance; please call me (ext. 53923) or Russell Diamond
(ext. 57095) if you have any questions.

Jay


Kim,

Here is the draft for Arizona  Public Service.

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


That's weird, because nothing traded for nearly that low for April today.
Mike's exact words were, "there's no way it's $258." So if anyone from Prebon
is still there, let them know the trader is sticking with his price.

Thanks,
Kate

Evelyn Metoyer@ENRON
03/23/2001 12:53 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: 3-23 Checkout

559066----I just checked with Prebon and for some reason they show price as
$258.00 on this deal.
559091----Is a good deal with Bloomberg.

Therefore, the only deal in question now is 559066 and Prebon shows $258 as
price and we show $358.

Please advice.

   Kate Symes @ ECT                03/23/2001 02:37 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: 3-23 Checkout

I'm a little confused - 559066 is a Prebon deal under Mike Swerzbin's book.
559091 is a Bloomberg deal under Matt Motley's book. I just talked to Mike
Driscoll and he said these both have the correct brokers on them and there
were two deals. ????

Kate

Evelyn Metoyer@ENRON
03/23/2001 11:55 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: 3-23 Checkout

Kate deal 559066 is identical to deal 559091.  Prebon does not recognize
559066.  Were these duplicates?

   Kate Symes @ ECT                03/23/2001 01:27 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: 3-23 Checkout

BLOOMBERG
Matt Motley
559091 - sells to Idaho, 50 mw, April, Mid-C, $358

Tom Alonso
559010 - price is changed to $160
He is still entering last two deals.

AMEREX
Mike Swerzbin
559062 - buys AEP, 25 mw, Cal-02, PV, $140
And Tom said he didn't have anything to do with this deal - Mike said MW were
correct.

Thanks,
kate

Evelyn Metoyer@ENRON
03/23/2001 11:22 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 3-23 Checkout

BLOOMBERG

Tom Alonso
I am missing the following deals:

1) Enron sells to Tractebal 25mw Palo Verde for 3/26 peak hrs at $260.00
2) Enron sells to Pacificorp 25 mw Palo Verde for 3/26 peak hrs at $260.00

Mike Swerzbin
I am missing the following deal:

1) Enron sells to Idaho Power 50 mw April Mid-C peak hrs at $358.00

Jeff Richter
deal 559010
Bloomberg shows $160 as price......enpower has $165.00

PREBON
All were o.k.

AMEREX

Tom Alonso/Matt Motley (someone who traded on the LT PV Desk today)
I am missing the following deal:
Enron buys Cal'02 Palo Verde at $140.00  (Check the mw on this deal please
with Tom!!!)


Please take these meetings off my calendar.  Thanks!
---------------------- Forwarded by Sally Beck/HOU/ECT on 01/12/2000 05:46 PM
---------------------------

Lorraine Becker
01/12/2000 04:47 PM
To: Sally Beck/HOU/ECT@ECT, Gretel Smith/HOU/ECT@ECT, Brent A
Price/HOU/ECT@ECT, Kristin Albrecht/HOU/ECT@ECT, Scotty Gilbert/HOU/ECT@ECT,
Robert Superty/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT, Michael E
Moscoso/HOU/ECT@ECT, Scott Pleus/HOU/ECT@ECT, Brenda F Herod/HOU/ECT@ECT,
Sheila Glover/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Elaine
Brown/HOU/ECT@ECT, Heather Choate/HOU/ECT@ECT, Kathy McMahon/HOU/ECT@ECT,
Lisa Shoemake/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, Marvia
Jefferson/HOU/ECT@ECT, Tara Sweitzer/HOU/ECT@ECT, Donna Greif/HOU/ECT@ECT,
Carrie Southard/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, Lorraine
Becker/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT, Bob Shults/HOU/ECT@ECT, Frank
L Davis/HOU/ECT@ECT, Jennifer deBoisblanc Denny/HOU/ECT@ECT, Dale
Neuner/HOU/ECT@ECT, Rosalinda Resendez/HOU/ECT@ECT, Scott Mills/HOU/ECT@ECT,
Cherylene R Westbrook/HOU/ECT@ECT, Karen Snow/HOU/ECT@ECT, Kim S
Theriot/HOU/ECT@ECT, Lynn E Shivers/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Maria
Sandoval/HOU/ECT@ECT, Jefferson D Sorenson/HOU/ECT@ECT, Kathryn
Cordes/HOU/ECT@ECT, Peggy Hedstrom/CAL/ECT@ECT, Kevin Sweeney/HOU/ECT@ECT,
Sue Foust/HOU/ECT@ECT, Stacy E Dickson/HOU/ECT@ECT, Mark Fondren/HOU/ECT@ECT,
Kathy Reeves/CAL/ECT@ECT, Laura E Scott/CAL/ECT@ECT, Cliff
Lawrick/CAL/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Irena D Hogan/HOU/ECT@ECT, Bob
Bowen/HOU/ECT@ECT, Cindy Horn/HOU/ECT@ECT, Connie Sutton/HOU/ECT@ECT, Chris
Wiebe/CAL/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Eric Bass/HOU/ECT@ECT
cc:
Subject: Future EOL Weekly Meetings

Please cancel all future EOL weekly meetings from your calendars.   Should
you have any questions regarding EOL, please feel free to contact either the
Help Desk at x3-4357 or any of the Product Controls Group.

Thank you for your participation in previous meetings.


Matt,

Hey, thanks for returning my call.  As you're probably out from work, I'll
try you again when I get in tomorrow (thursday).  I basically just wanted to
touch base again since Ken has now moved on and left me with our synthetic
storage project.  I'm also looking for a legal and EOL contact to help us
develop a contract and run the bid process through EOL.  You may have
provided these to Ken, but I can't get in touch with him.  Thanks again.

Mat


**********************************************
*** Make a note: Meridien's Annual Summit Conference will be in Cambridge, MA, on May 20-21, 2002!***

New at Meridien Research for January 17, 2002

1. From Policy to Practice: Privacy Management Solutions
2. XML: Are We Speaking the Same Language?
3. Buy-Side OMS: Several Steps Closer to STP
4. Top Ten Strategic IT Initiatives in Wholesale Financial Services for 2002
5. Top Ten Wholesale for 2002 Web cast

Registered clients can access research directly. If you are a client but are not registered, or if you are a guest, please visit our Web site to register for a user name and a password.
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*********************************************

Latest Findings from Meridien:

1. From Policy to Practice: Privacy Management Solutions
(Customer Relationship Management/Customer Interaction Client Access)
http://www.meridien-research.com/doc.asp?docid=819
This is the third Meridien report in a series that deals with privacy issues worldwide. Advanced technology has made customer data more mobile than ever. Financial institutions analyze, transmit, and store sensitive customer data every day to deliver products and services to their customers in an efficient and effective manner. But technological advancements have also created an environment in which financial institutions can sell customer data to third parties or inadequately protect customer information. Regulators may stipulate which data can be collected and how it can be used, but customers may have their own set of stipulations. It is up to the institution to balance these demands. This report defines privacy management and examines three vendors offering privacy management middleware solutions.

2. XML: Are We Speaking the Same Language?
(Wholesale e-Financial Client Access)
(Emerging Trading Technologies Client Access)
(Retail e-Financial Client Access)
http://www.meridien-research.com/doc.asp?docid=820

Technologists may not be uttering "XML" with quite the battle-cry zeal they did last year, but XML standardization efforts trudge on. XML remains a crucial consideration for organizations as they make their technology decisions. This report updates a previous Meridien report on XML, which focused largely on the business-to-business marketplace arena. Much of the immense market push in that direction has slowed along with the rest of the economy. In the meantime, belt-tightening and budget scrutiny are leading many institutions to pursue internal initiatives that can for now bring them more immediate and assured return on investment than might more outwardly focused, multi-institution efforts. This report updates some of the standardization efforts and provides some new coverage in an effort to shed light on the areas where the financial industry will more than likely focus in the next several years.

3. Buy-Side OMS: Several Steps Closer to STP
(Emerging Trading Technologies Client Access)
http://www.meridien-research.com/doc.asp?docid=823

Order management systems, or OMSs, facilitate the intrafirm processing of securities trading. The growth and acceptance of processing power and networking technologies have allowed OMSs to expand beyond simple order management. This growth has encouraged the centralization of several front-, middle-, and back-office and compliance functionalities into one solution. As straight-through processing becomes more important for firms, an OMS offers a relatively easy and proven way of starting down this road. This report examines the components of an OMS, various vendors providing OMS solutions, the OMS marketplace, and how a buy-side firm uses OMS technology.

4. Top Ten Strategic IT Initiatives in Wholesale Financial Services for 2002
(Guest access)
http://www.meridien-research.com/misc/top10_2002.asp

Meridien Research's third annual IT analysis identifies the top ten initiatives that will have key strategic importance for the wholesale financial services industry in 2002. This special report summarizes and forecasts spending on these initiatives, considering industry segment and geographic region.

5. Top Ten Wholesale for 2002 Web cast
Wednesday, January 30, 2002; 11AM
Presenter: Bill Bradway
(Open to the public)
http://www.meridien-research.com/events/webcast/
This Web cast, based on our recently released report, will identify what Meridien believes will be the top ten initiatives having key strategic importance for the wholesale financial services industry in 2002.

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---------------------- Forwarded by Hunter S Shively/HOU/ECT on 07/17/2000
02:25 PM ---------------------------

Jason Moore
07/11/2000 12:42 PM
To: Hunter S Shively/HOU/ECT@ECT
cc:
Subject: Gas Counterparties

Attached please find a list of active counterparties that ENA is doing gas
business with, along with their addresses.  The list is in alphabetical order
by the legal name.

Jason Moore


Approved.

---------------------- Forwarded by Rod Hayslett/FGT/Enron on 12/13/2000
05:06 PM ---------------------------

Kathy Campos
12/13/2000 03:56 PM
To: Rod Hayslett/FGT/Enron@ENRON
cc:

Subject: Expense Report

Rod,

Attached is my expense report, please review and approve.

Thanks.
Kathy


Start Date: 4/18/01; HourAhead hour: 13;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041813.txt


FYI on VNG...
---------------------- Forwarded by Sally Beck/HOU/ECT on 01/26/2001 02:42 PM
---------------------------

Geraldine Irvine

01/26/2001 11:43 AM
To: Victor Lamadrid/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, Robert
Superty/HOU/ECT@ECT, Steve Gillespie/Corp/Enron@ENRON, Sally
Beck/HOU/ECT@ECT, Greg Whiting/Corp/Enron@ENRON, Jeffrey C
Gossett/HOU/ECT@ECT, Priscilla Hamic/NA/Enron@Enron, William
Kelly/HOU/ECT@ECT, Maria Garza/HOU/ECT@ECT, Beverly Beaty/HOU/ECT@ECT, Scott
Neal/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT, Dick
Jenkins/HOU/ECT@ECT, John Valdes/HOU/ECT@ECT, Jim Pond/Corp/Enron@Enron, Ed
McMichael/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT
cc: Mark Breese/HOU/ECT@ECT
Subject: Follow-up to VNG meeting

Attached is a memo from Mark Breese on the follow-up to the Jan. 25 VNG
Meeting.