I literally had tears in my eyes reading this one.  It sounded like a
possible Santamaria outing.
	Enron North America Corp.

	From:  Mark Friedman                           12/27/99 09:52 AM

To: David Oliver/HOU/ECT@ECT, Reagan Mathews/HOU/ECT@ECT, Monique
Sanchez/HOU/ECT@ECT
cc:
Subject: Fw: This is long but definitely worth reading

---------------------- Forwarded by Mark Friedman/HOU/ECT on 12/27/99 09:51
AM ---------------------------

"ANDREW J COWEN" <andrew@b2b123.com> on 12/23/99 12:44:30 PM
To: "Staci Markman" <staci.markman@courts.state.tx.us>, Mark
Friedman/HOU/ECT@ECT, "'Jeff Masanow'" <Jeff@exchange.nssco.com>, "Litofsky,
Marcus" <Marcus.Litofsky@sci-us.com>, "Rachel Abbott" <patandband@aol.com>,
"Rachel Gary" <rgary@us.oracle.com>, "Maria Hale" <maria.hale@carlberg.com>,
"David Barton" <dave.barton@carlberg.com>, "Brian Fisher"
<brian.fisher@carlberg.com>, "Heather Kristoff" <heather.kristoff@chron.com>,
"Jacki Schwartz" <jschwartz@glesbymarks.com>, "Arthur Polott"
<apolott@bsmpc.com>, "Dina Ginsberg" <dginsber@bindview.com>, "Shara"
<shara@flash.net>, "Terri Lubrano" <terrilubrano@worldnet.att.net>, "Hugh
Morrison" <pilgrimboss@prodigy.net>, "Carey Bradfield-Harvey"
<gph24@aol.com>, "Jeff Estes" <jestes@hbk.com>, "Jed Freedlander"
<jed_freedlander@heliosconsulting.com>
cc:
Subject: Fw:  This is long but definitely worth reading

OK everyone.  This story is why Yankees tell redneck jokes.

> > This is an e-mail from some guy named J.D. Horne, who, according to the
> > messages that were attached to this, is not a 21 year-old frat boy, but
an
> > attorney of indeterminate age. He sent it to his friend Brian Brice and
it
> > got forwarded around the country. You have to give the guy some props
for
> > being self-deprecating...but I hope I never meet him on game day.
> >
> > ******
> > A chronology of events for Saturday, December 4, 1999, and the early
morning
hours of Sunday, December 5, 1999:
6:00 Arise, play the Eyes of Texas and Texas Fight at full-freaking blast
6:20 Get in car, drive to New Braunfels
7:30 Tee off (me and a buddy were the FIRST tee-time of the morning)
8:50 Turn 9 (crack open first beer)
8:53 Crack open second beer
8:58 Crack open...(you get the idea)
10:30 Finish 18 (holes, as well as beers), sign scorecard for smoooooth 95
10:35 Headed for San Antonio
10:50 Buy three 18-packs for pre- and post-game festivities
11:10 We decide we don't have enough booze, so we double-back to a liquor
store and buy the good ol' 750 ml plastic bottle "Traveler" Jim Beam
11:50 Arrive at the tailgate spot. Awesome day. Not a single cloud in the
sky. About 70 degrees.
11:55 I decide that we're going to kick the shit out of Nebraska.
11:56 I tell my first Nebraska fan to go fuck himself.
12:15 The UT band walks by on the way to the Alamodome. We're on the second
floor of a two-story parking garage on the corner (a couple hundred of us).
We're hooting and hollering like wildmen. The band doubles back to the
street right below us and serenades us with Texas Fight and The Eyes of
Texas. AWESOME MOMENT.
12:25 In the post-serenade serendipity, 50-100 grown men are bumping chests
with one another, each and every one of them now secure and certain of the
fact that we are going to kick the shit out of Nebraska.
1:00 The Nebraska band walks by on the way to the Alamodome. Again, we hoot
and holler like wildmen. Again, the band doubles back and stops right below
us to serenade us, this time, however, with the Nebraska fight songs.
*Although somewhat impressed by their spirit and verve, we remain convinced
that we are going to kick the shit out of Nebraska.
1:30 I begin the walk to the Alamodome, somehow managing to stuff the
"Traveler" and 11 cans of beer into my pants.
1:47 I am in line surrounded by Nebraska fans. They are taunting me. I am
taunting back, still certain that we are going to kick the shit out of
Nebraska. I decide to challenge a particularly vocal Nebraska fan to play
 what I now call and will forever be remembered as "Cell-Phone Flop Out."
Remember flop out for a dollar? The rules are similar. I tell this Nebraska
jackass that if he's so confident in his team, he should "flop out" his cell
 phone RIGHT NOW and make plane reservations to Phoenix for the Fiesta
Bowl.
 And then I spoke these memorable words: "And not those damn refundable
tickets, either! You request those non-refundable, non-transferrable
sons-of-bitches!" He backs down. He is unworthy. I call Southwest Airlines
and buy two tickets to Phoenix, non-refundable and non-transferrable. Price:
 $712. He is humbled. He lowers his head in shame. I raise my cell phone in
 triumph to the cheers of hundreds of Texas fans. I am KING and these are my
 subjects. I distribute the 11 beers in my pants to the cheering masses. I
 RULE the pre-game kingdom.
2:34 Kickoff. Brimming with confidence, I open the Traveler and pour my
first stiffy.
2:45 I notice something troubling: Nebraska is big. Nebraska is fast.
Nebraska is very pissed off at Texas.
3:01 The first quarter mercifully ends. 9 yards total offense for Texas.
Zero first downs for Texas. I'm still talking shit. I pour another stiffy
 from the Traveler.
3:36 Four minutes to go in the first half: the Traveler is a dead soldier.

I buy my first $5 beer from the Alamodome merchants. While I am standing in
line, a center snap nearly decapitates Major Applewhite and rolls out of the
end zone. Safety.
3:56 Halftime score: Nebraska 15, Texas 0. I wish I had another Traveler.
4:11 While urinating next to a Nebraska fan in the bathroom at halftime, I
attempt to revive the classic Brice-ism from the South Bend bathroom:
"Hey, buddy, niiiiiiiiice cock." He is unamused.
4:21 I buy my 2nd and 3rd $5 beer from the Alamodome merchants. I share my
beer with two high school girls sitting behind me. Surprisingly, they are
equipped with a flask full of vodka. I send them off to purchase Sprites, so
that we may consume their vodka. I have not lost faith.  Nebraska is a bunch
of pussies.
4:51 No more vodka. The girls sitting behind me have fled for their lives.

I purchase two more $5 beers from the Alamodome merchants.
5:18 Score is Nebraska 22, Texas 0. I am beginning to lose faith. This
normally would trouble me, but I am too drunk to see the football field.
5:27 I call Southwest Airlines: "I'm sorry, sir. Those tickets have been
confirmed and are non-refundable and non-transferrable."
5:37 I try to start a fight with every person behind the concession counter.
As it turns out, the Alamodome has a policy that no beer can be sold when
there is less than 10 minutes on the game clock. I am enraged by this
policy. I ask loudly: "Why the fuck didn't you announce last call over the
fucking PA system??!!"
5:49 Back in my seats, I am slumped in my chair in defeat. All of a sudden,
the Texas crowd goes absolutely nuts. "Whazzis?," I mutter, awaking from my
coma, "Iz we winnig? Did wez scort?" Alas, the answer is no, we were not
winning and we did not score. The largest (by far) cheer of the day from
the
Texas faithful occurred when the handlers were walking back to the tunnel
and Bevo stopped to take a gargantuan shit all over the letters "S", "K",
and "A" in the "Nebraska" spelled out in their end zone.  I cheer wildly.

I pick up the empty Traveler bottle and stick my tongue in it. I am thirsty.
6:16 Nebraska fans are going berserk as I walk back to the truck. I would
taunt them with some off-color remarks about their parentage, but I am too
drunk to form complete sentences. With my last cognitive thought of the
evening, I take solace in the fact that if we had not beaten them in
October, they would be playing Florida State for the national
championship.
6:30 Back in the car. On the way back to Austin for the 8:00 Texas-Arizona
tip off. We can still salvage the day! I crack open a beer.  *It is warm.

I don't care.
7:12 We have stopped for gas. I am hungry. I go inside the store. I walk
past the beer frig. I notice a Zima. I've never had a Zima. I wonder if it's
any good. I pull a Zima from the frig. I twist the top off and drink the
Zima in three swallows. Zima sucks. I replace the empty bottle in the frig.
7:17 There is a Blimpie Subs in the store. I walk to where the ingredients
are, where the person usually makes the sub. There is no one there. I lean
over the counter and scoop out half a bucket of black olives. I eat them.

I am still hungry. I lean further over the counter and grab approximately
two
pounds of Pastrami. I walk out of the store grunting and eating Pastrami.
The patrons in the store fear me. I don't care.
8:01 We are in South Austin. I have been drinking warm beer and singing
Brooks and Dunn tunes for over an hour. My truck-mate is tired of my
singing. He suggests that perhaps Brooks and Dunn have written other good
songs besides "You're Going to Miss Me When I'm Gone" and "Neon Moon" and
that maybe listening to only those two songs, ten times each was a bit
excessive. Perhaps, he suggests, I could just let the CD play on its own.

I tell him to fuck off and restart "Neon Moon."
8:30 We arrive at the Erwin Center. My truckmate, against my loud and
profane protestations, parks on the top floor of a nearby parking garage.

I
tell him he's an idiot. I tell him we will never get out. I tell him we may
as well pitch a fucking tent here. He ignores me. I think he's still pissed
about the Brooks and Dunn tunes. I whistle "Neon Moon" loudly.
8:47 I am rallying. I have 4 warm beers stuffed in my pants. We're going to
kick the shit out of Arizona.
9:11 Halftime score: Texas 31, Arizona 29. I am pleased. I go to the
bathroom to pee for the 67th time today. I giggle to myself because of the
new opportunity to do "the bathroom Brice." There are no Arizona fans in the
bathroom. I am disappointed. I tell myself (out loud) that I have a
"Niiiiiice cock." No one is amused but me.
9:41 I walk to the bathroom while drinking Bud Light out of a can.  Needless
to say, they do not sell beer at the Erwin Center,much less Bud Light out

of
a can. I am stopped by an usher: "Where did you get that, sir?" I tell him
(no shit): "Oh, the cheerleaders were throwing them up with those little
plastic footballs. Would you mind throwing this away for me?" I take the
last swig and hand it to him. He is confused. I pretend I'm going to the
bathroom, but I run away giggling instead. I duck into some entrance to
avoid the usher, who is now pursuing me. I sneak into a large group of
people and sit down. The usher walks by harmlessly. I am giggling like a
little girl. I crack open another can of Bud Light.
9:52 I am lost. In my haste to avoid the usher, I have lostmy bearings. I
have no ticket stub. I cannot find my seats. Texas is losing.
10:09 Texas is being screwed by the refs. I am enraged. I have cleared out
the seats around me because I keep removing my hat and beating the
surrounding chairs with it. A concerned fan asks if I'm OK and perhaps I
shouldn't take it so seriously. I tell him to fuck off.
10:15 After the fourth consecutive "worst fucking call I have EVER seen," I
attempt to remove my hat again to begin beating inanimate objects.  However,
on this occasion I miscalculate and I thumbnail myself in my left eyelid,
leaving a one-quarter inch gash over my eye. I am now bleeding into my left
eye and all over my shirt. "Perhaps," I think to myself, "I'm taking this a
bit seriously."
10:22 I am standing in the bathroom peeing. I'm so drunk I am swaying and
grunting. I have a bloody napkin pressed on my left eye. My pants are
bloody. I have my (formerly) white shirt wrapped around my waist. I look
like I should be in an episode of Cops.
10:43 Texas has lost. I put my bloody white shirt back on my body and make
my way for the exits. I am stopped every 20 seconds by a good
samaritan/cop/security guard to ask me why I am covered in blood, but I
merely grunt incoherently and keep moving.
10:59 With my one good eye, I have located the parking garage. I walk up six
flights of stairs, promise that when I see my friend I will punch him in the
face for making me walk up six flights of stairs, find the truck, and
collapse in a heap in the bed of the truck. I look around and notice that
traffic is lined up all the way around the garage, six whole flights, and

no one is moving. I take a nap.
11:17 I awake from my nap. I see my friend in the driver's seat. I lift my
head to look out the bed of the truck and notice that traffic is lined up
all the way around the garage, six whole flights, and no one is moving.  I
am too tired to punch my friend. I call my friend a "Stupid cocksucker."
11:31 I lift my head to look out the bed of the truck and notice that
traffic is lined up all the way around the garage, six whole flights, and no
one is moving. I call my friend a "Stupid cocksucker."
11:38 I lift my head to look out the bed of the truck and notice that
traffic is lined up all the way around the garage, six whole flights, and no
one is moving. I call my friend a "Stupid cocksucker."
11:47 I lift my head to look out the bed of the truck and notice that
traffic is lined up all the way around the garage, six whole flights, and

no one is moving. I call my friend a "Stupid cocksucker."
11:58 I am jostled. The truck is moving. I lift my head to look out the bed
of the truck and notice that traffic is beginning to move on the second
floor. I jump out of the truck, walk to the edge of the parking facility,
and pee off the sixth floor onto the street below. My friend looks at me
like I just anally violated his minor sister. I turn around and pee on the
front of his truck while singing the lyrics to "Neon Moon."
12:11 We are moving. We are out of beer. I jump from the truck and go from
vehicle to vehicle until someone gives me two beers. I am happy. I return to
my vehicle.
12:26 We have emerged from the parking facility. We make our way to my
apartment and find Ed sitting on the couch with a freshly opened bottle of
Glenlivet on the coffee table in front of him. We are all going to die
tonight.
12:59 We have finished three-quarters of the bottle of Glenlivet. We decide
it would be a wonderful idea to go dancing at PollyEsther's. Ed has to pee.
He walks down the hall to our apartment and directly into the full length
 mirror at the end of the hall, smashing it into hundreds of pieces.  We
giggle uncontrollably and leave for PollyEsther's.
1:17 The PollyEsther's doorman laughs uncontrollably at our efforts to enter
his club. "Fellas," he says in between his fits of spastic laughter, "I've
 been working this door for almost a year. I've been working doors in this
town for almost 5 years. And I can honestly say that I ain't never seen
three drunker mother fuckers than you three. Sorry, can't let you in." We
attempt to reason with him. He laughs harder.
1:44 We find a bar that lets us in. We take two steps in the door and hear
"Last call for alcohol!" I turn to the group and mutter: "See, dat wasn't
that fuckin' hard. Day don't fuckin' do that at the Awamo...the awaom...the
alab...fuck it, that stadium we was at today..." We order 6 shots of tequila
and three beers.
2:15 Back on the street. We need food. We hail a cab to take us the two and
one half blocks to Katz's. The cab fare is $1.60. We give him $10 and tell
him to keep it.
2:17 There is a 20 minute wait. We give the hostess $50. We are seated
immediately.
2:25 We order two orders of fried pickles, a Cobb salad, a bowl of soup, two
orders of Blueberry blintzes, two Reuben sandwiches, a hamburger, two cheese
stuffed potatoes, an order of fries, and an order of onion rings.
2:39 The food arrives. We are all asleep with our heads onthe table. The
waiter wakes us up. We eat every fucking bit of our food. Most of the
restaurant patrons around us are disgusted. We don't give a fuck. The tab is
$112 with tip.
2:46 I'm sleepy.
9:12 I wake up next to a strange woman. She is the bartender at Katz's.
She is not pretty.
> >
>

 - att1.htm


713 751 3255

Barton Clark@ECT
09/25/2000 10:15 AM
To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: Georgia sites

Do you have a phone number for Keffer?

	Kay Mann@ENRON
	09/25/2000 08:59 AM

		 To: Barton Clark/HOU/ECT@ECT
		 cc: Stuart Zisman/HOU/ECT@ECT, Lisa Mellencamp/HOU/ECT@ECT
		 Subject: Re: Georgia sites

I've worked with Kilpatrick Stockton's North Carolina office quite a bit,
mostly regulatory- they are so so.  It is my understanding that the Atlanta
office messed up a simple thing for Lisa, and that's all I know about them.
I've worked extensively with King & Spalding, both their Houston office
(multiple matters) and Atlanta (two matters), and have had good results.
I've always worked through John Keffer in Houston, who then hooked me up with
the right folks in Atlanta.

Kay

Barton Clark@ECT
09/22/2000 12:39 PM
To: Stuart Zisman/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron
cc:

Subject: Georgia sites

The Georgia sites have slid down hill and reached the bottom. I have to
consult with local counsel re groundwater issues. I understand the options
are King & Spaulding and Kilpatrick & Stockton. I've worked with neither. Can
you evaluate/recommend either?


Nork Plotkin was recently hired by our retail coalition.  Here is his report
from the meeting on SB 27X

Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 02/16/2001 10:57 AM -----

	nplotkin@tfglobby.com (Norman Plotkin)
	02/15/2001 05:55 PM

		 To: arm@phaser.com
		 cc:
		 Subject: SB 27x meeting

The first meeting relative to the SB 27x fix to the suspension of da
contained in AB 1x was held at the Capitol today.  Present were ESPs,
consumer groups, business interests, the utlities and representatives from
the Department of Finance, the DWR and Finance's Bond Counsel.  The meeting
was led by Laurence Lingbloom from Senator bowen's office.

Aaron Thomas led off with an articualtion of the AReM/business coalition
proposal. Successive presentations were given by interests who submitted
either correspondence or draft proposals- the details of which can be
discussed in tomorrow's conference call.

Of particular note, and the greatest obstacle facing the future of da, was
the presentation by the attorney representing the Dept. of Finance.  He
expressed concern over broad exemptions from exit fees (ie: all residential
and small commercial customers < 100kw) and broad authority to opt out will
make it extremely difficult to actually sell the bonds.

We need to follow up with Finance, their counsel and DWR to allay their
fears- the sooner the better.  We need to be able to speak their language on
bonding particulars and we need to be able to articulate our position in
terms relavant to their bonding requirements.  We can discuss this further in
the call tomorow.

Finally, Lingbloom said he will circulate a proposal of his own by midweek
next.  The general tenor at the conclusion of the meeting was not good- we
have our work cut out for us.

Until tomorrow.

Norm


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

USA: NewPower sees savings from smart energy technology.

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

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

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

Amer Elec Power Completes Houston Pipe Line Buy >AEP ENE

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

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

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

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

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

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

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

Williams CEO fears bankruptcies in California

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

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

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

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

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

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

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

                           Further Talks

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

                         Little Risk

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

                            Enron Quits

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


Can you get the new attorney in our group, Jason Peters access to both the
Financial Trading Database and the Online Trading Database.  Please let us
know when he has access.  Thanks.


Start Date: 1/12/02; HourAhead hour: 4;  No ancillary schedules awarded.  No variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002011204.txt


Start Date: 4/25/01; HourAhead hour: 10;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042510.txt


Start Date: 12/19/01; HourAhead hour: 14;  HourAhead schedule download failed. Manual intervention required.


Thanks so much, Willie!

	From:  Willie Harrell                           04/05/2001 09:29 AM

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

Subject: Re: New Pub Code

I have already began posting rates (4/1/2001) for this pub code.  wlh


we will have a list of patterns just in case people don't know what they are,
but the plays are designed to clear out areas so that certain patterns are
more open.
you can draw plays in excel using the drawing toolbar.

what time are we going to scrimmage tomorrow?

Michael Simmons
11/14/2000 03:37 PM
To: Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: Plays and other information

suggestion... make a playbook that just shows individual routes.. that way
Luis can just customize  in the huddle....

Ex.   outs, curls, out-and-up, post..  etc...

also,,    You give routes to the linemen and they should block  and then roll
out into the open flats once the defense goes past....

AND... most importantly.. how did you  draw those plays  excel....


More on the CFOs conference.

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/10/2001
08:24 AM ---------------------------

David Ikenberry <daveike@rice.edu> on 03/30/2001 07:21:11 PM
To: DAVEIKE@rice.edu
cc: Sheridan Titman <titman@mail.utexas.edu>, "parrino@mail.utexas.edu"
<parrino@mail.utexas.edu>
Subject: Registration materials for NFCF

To:

Andres Almazan
Don Chew
John Freeman
Geoge Gau
Vince Kaminski
Bob Marchesi
John Martin
Vojislav Maksimovic
Laura Starks
Art Warga
Michael Weisbach

Dear Friends

Attached is some registration and logistical information relating to the
upcoming corporate finance conference on May 4-5 in Houston.  If you have
any questions, please don't hesitate to contact Sheridan, Bob or myself.

The program is shaping up nicely, however one of us may draft to serve in
some small, but helpful capacity.

Sheridan Titman, 512.232.2787, titman@mail.utexas.edu ,
Bob Parrino at parrino@mail.utexas.edu
Dave Ikenberry, 713.348.5385 , daveike@rice.edu

As of today, the list of firms sending a representative include:
Pfizer
Pacificare
Cooper Industries
RadioShack
Pepsi
Delphi Automotive
Microsoft
Whirlpool
Enron
Johnson Controls
Airgas
Sara Lee
Dell
Conoco

 - particpate registation details.doc

***********************************
Prof. David Ikenberry
Jones Graduate School of Management
Rice University
713-348-5385


Jeff,

We shall continue talking to Howard when he comes back from NYC.
I shall set up an interview with him.

Vince

"$$$$$$$$$$$$$$$$$$$$$$$$$$$" <jjw@ziplip.com> on 02/05/2001 12:49:20 PM
Please respond to "$$$$$$$$$$$$$$$$$$$$$$$$$$$" <jjw@ziplip.com>
To: Vince.J.Kaminski@enron.com
cc:
Subject: Vince...feedback from Howard on debrief

Hi Vince, this is exactly what I recieved back from my man in the UK...pls
review. Any comments or instructions?
Thank you,
Jeff Wesley 949 813 2241 Direct
********************************************************
 spoke to Howard, he is intereste in speaking to someone higher up the
 foodchain at Enron. He got the impression that those people he met would
 report into him. He really needs to speak to someone higher up and discuss
 the roles strategic potential.

 He is interested mainly in structuring which this role is not. But he
 recognised where it might lead and this would potetially be interesting to
 him but needs to speak to someone who is involved in the strategic direction
 of enrons credit.com.

 Vuthy is aware that Enron have intimated they want to see him again. Howard
 has told me there is a lot happening for him both here and in the US. Vuthy
 will arrange to get Howard interviewed here in London early next week.

 Tks and rgds
 Alec

*  Get free, secure online email at http://www.ziplip.com/  *


Mike confirmed with Natsource this was a 25MW deal with no broker fee.

Kerri Thompson@ENRON
11/17/2000 07:47 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 458802

the broker has 23,775 as total mws, and also has a fee of .0075.


I had a meeting this morning with Dr. Luis Tellez (former Secretary of Energy), who is currently COO of Grupo DESC.
He is also very interested in receiving a proposal from Enron.
They are preparing all the information we will need, and he offered to send it before the end of the week. DESC's needs
are 150 MW, in 22 separate sites. Luis wants to have a proposal by the middle of next week, in order to discuss it with
Mr. Fernando Senderos, Chairman & CEO of DESC, and his boss, who will out of the country for one month, as of July 21.
This is another opportunity that looks promising, although our proposal will be compared with others coming from a single
plant scheme ( 250 or 500 MW), where we have a disadvantage at heat rate and pricing.
I believe we have to be more creative, in the way we portrait our import scheme. Lets talk about it.
Regards,	jaime____


Christine,

Attached is the Entex file I mentioned in the voice mail this morning.  We
really need to have these adjustments made in POPS today.  Please let me know
if you can help with this.  Thanks.

Daren
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 05/19/2000
11:40 AM ---------------------------

	Enron North America Corp.

	From:  Gary A Hanks                           05/18/2000 03:51 PM

To: Romeo D'Souza/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Ami
Chokshi/Corp/Enron@ENRON, Pat Clynes/Corp/Enron@ENRON
cc:
Subject: Entex Adjustments for 5/00

I have reviewed the Entex actuals and adjusted Gas Control's Entex factor for
the month of May.  I have found that Entex estimates have been overstated by
approximately 10.0 Mmcf/Day.

Romeo:

Will you make sure the estimates that are in POPs are corrected to reflect
the new volumes.  This should help reduce some of the UA4 that Daren and Pat
are trying to locate.

The attached file has the changes that need to be made.  Please let everyone
on this mailing list know once the changes have been made.

If you have any questions please call me at 36449.

Thanks
Gary H


I am fine with this product.

Stacy
 -----Original Message-----
From: 	Walker, Chris
Sent:	Monday, November 05, 2001 4:41 PM
To:	Taylor, Mark E (Legal); Moran, Tom; Musch, Susan; Blumenthal, Jeff; Hayden, Frank; Love, Phillip M.; Dickson, Stacy E.
Cc:	Anderson, Diane; Lees, Lisa; Sever, Stephanie; Clark, Claudia; O'day, Karen; Guillory, Michael; Jones, Tana; Lambert, Karen; Lombardi, Kelly; Sweitzer, Tara; Lozano, Melba; Kenne, Dawn C.; Moorer, Torrey; Meredith, Kevin; Hoang, Charlie; Renaud, Lindsay; Denny, Jennifer
Subject:	Product Type approval - (CAN Gas Phy Fwd Firm East Spd < or = 1Mo)

Your review and approval of the following product type in the EOL Data manager is needed (for directions on approval, please see steps for approval at the bottom of this e-mail).  Please do not approve before 11 A.M.

CAN Gas Phy Fwd Firm East Spd < or = 1Mo	(2193)

Can Gas Phy Spd  Dawn vs Niagara   Nov01           USD/MM

A Canadian Gas Spread Transaction which is entered into as two physical Transactions with Enron North America Corp. under which either (A) for the case in which Counterparty submits an offer to buy the Spread from Enron, Counterparty shall sell the First Transaction and buy the Second Transaction while Enron shall buy the First Transaction and sell the Second Transaction, each in respect to a quantity of natural gas equal to the Daily Contract Quantity at the Contract Price on a firm basis; or (B) for the case in which Counterparty submits an offer to sell the Spread to Enron, Counterparty shall buy the First Transaction and sell the Second Transaction while Enron shall sell the First Transaction and buy the Second Transaction, each in respect to a quantity of natural gas equal to the Daily Contract Quantity at the Contract Price on a firm basis. The Contract Price for the First Transaction will be the midpoint of the bid and offer price(s) on the Website for the first product listed in the short description at the time of the Transaction if both the bid and offer prices are then available or the available price if only one of such prices is then available.  The Contract Price for the Second Transaction will be the Contract Price for the First Transaction, modified by the price submitted by the Counterparty on the Website.
The transaction is from the Effective Date to the Termination Date. The Effective Date is 01 Nov 2001. The Termination Date is 30 Nov 2001.
The First Transaction is for delivery at Union Gas - Dawn, Ontario.  The Second Transaction is for delivery to Transcanada Pipelines at Niagara.
The price is quoted in US Dollars per unit of volume, which will be the Contractual Currency.
The unit of measure against which the price is quoted shall be millions of British thermal units and the quantity shown shall be in millions of BTUs per day.

STEPS FOR APPROVAL:

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

CW
3-7533


We are pleased to present you with a 2001 Special Stock Option Grant Award.  As a participant in this grant you have the opportunity to share in the ownership of Enron and the potential profit from increases in the value of Enron's common stock.

The 2001 Special Stock Option Grant was made to let you know how valuable you are and to recognize your contributions in making Enron the great company it is today.   Although there are no guarantees as to Enron's future stock performance, we believe that an Enron stock option has tremendous future growth potential.  The value you ultimately receive from your options will depend on the price of Enron stock at the time you exercise your options.

You can access your 2001 Special Stock Option Grant Agreement and the Stock Plan document governing the grant via your eHRonline account on the intranet website at http://ehronline.enron.com.  Unlike stock options granted in the past a copy of your grant agreement will not be mailed to your home address.

Additionally, the following information regarding the 2001 Special Stock Option Grant can be found on the HR website http://hrweb.enron.com.

?	2001 Special Stock Option Grant Highlights
?	2001 Special Stock Option Grant Frequently Asked Questions (FAQs)
?	A "How to Exercise Options" document that contains contact information and PaineWebber forms applicable to your stock options

Please take time to review this material.  It is important to us and to you.  If you have any questions, please contact your Human Resources representative.


POSREP HOEGH GALLEON 16TH. APRIL 0218LT (END OF VOYAGE)

A) Position at noon        : LAKE CHARLES ANCHORAGE
B) Dist. from last noon    : 187 n. miles (14,3 HRS.)
C) Dist. to go to next port: Arrived Lake Charles
D) Eta next port           :
E) 1:Average sea/weather   : Wind: SE 2, Sea: SE 1
   2:Average speed         : 13,08 knots / average RPM 88,86
   3:B.O.G. consumed       : 215,852
   4:F.O. consumed         : 23 mt.
   5:G.O. consumed         : nil
   6:Average vapor press. Tk. 1:0.091 bar. Average liq. temp: -158,7
                          Tk. 2:0.090                       : -158,7
                          Tk. 3:0.091                       : -158,7
                          Tk. 4:0.089                       : -158,7
                          Tk. 5:0.091                       : -158,6

Brgds Oe. Hansen
Master

E-mail: master.gall@hoegh.no
Teleph: Inmarsat tel.no.+874 330853910
Fax   : Inmarsat fax no.+874 330853913
Telex : Inmarsat B telex no.+584 330853915
Telex : Inmarsat C telex no.+584 430853910 (24hrs.watch)


Notice No. 02-81
March 20, 2002

TO:                 	ALL NYMEX DIVISION MEMBERS AND MEMBER FIRMS
                        ALL NYMEX DIVISION CLEARING FIRMS
                        ALL NYMEX DIVISION OPERATIONS MANAGERS
FROM:            J. Robert Collins, Jr., President
SUBJECT: 	MARGIN RATE CHANGES FOR HENRY HUB SWAP (NN) AND NATURAL GAS
(NG) FUTURES.
Effective Date: 		Thursday, March 21, 2002 (close of business)
Futures Contracts:		Natural Gas (NG), Henry Hub Swap (NN)
Futures
Contract Months:		All Months
Rate Change:

NYMEX Division Outright Margins on Natural Gas and Henry Hub Swap Futures
Contracts
				Clearing			Member

				Member			Customer
Non-Member
				New	Old		New	Old
New		Old
Tier 1 (1st Nearby Month):		$4,000	$2,500		$4,400
$2,750	    $5,400	$3,375
Tier 2 (2nd Nearby Month):		$3,500	$2,500		$3,850
$2,750	    $4,725	$3,375
Tier 3 (3rd  - 6th Nearby Months):	$3,000	$2,000		$3,300
$2,200	    $4,050	$2,700
Tier 4 (7th   - 12th Nearby Months): 	$2,500	$1,500		$2,750
$1,650	    $3,375	$2,025
Tier 5 (13th and greater):		$2,500	$1,500		$2,750
$1,650		$3,375	$2,025
Current systems calculate the margin requirement for spread positions by
first determining the "Scan Risk" and then multiplying the number of spreads
by a rate set by the Exchange.  Scan Risk is determined by netting the
outright margin required for each leg of a spread.  Spreading between
differently margined contracts results in a higher spread margin than
between equally margined contracts.  Below is provided an example where the
legs of a spread are margined differently.
Scan Risk Example at Clearing Member Rates
A spread consisting of one futures leg in Tier 1 and another in Tier 2 will
have its requirement (at the clearing member rates) calculated at $1,000
starting on Thursday, March 21, 2002.

One Long Tier 1 NG or NN	(1 * $4,000)	=	$4,000
One Short Tier 2 NG or NN (1 * $3,500)	=	- $3,500
Net Scan Risk ($4,000-$3,500)		=	$   500
Spread Rate	(1* $500)			+	$   500
Total Requirement				=	$1,000
Scan Risk Example Summary
Margin on a Spread Between a Tier 1 and Tier 2 Futures Contract
Clearing Member (Maintenance Margin):	$1,000
Member Customer (Initial Margin):		$1,100
Non-Member Customer (Initial Margin):	$1,350

 Inter-Month Spread  Margins on Natural Gas and Henry Hub Swap Futures
Contracts
				Clearing	Member	Member Customer
Non-Member
Tier 1 (1st Nearby Month):		 $500			$550
$675
Tier 2 (2nd Nearby Month):		 $250			$275
$237
Tier 3 (3rd  - 6th Nearby Months):	 $250			$275
$237
Tier 4 (7th   - 12th Nearby Months): 	 $250			$275
$237
Tier 5 (13th and greater):		 $100			$110
$135

The inter-commodity spread margins will be $0 between Natural Gas (NG) and
Henry Hub Swap (NN) futures contracts. Spread credits between Henry Hub Swap
futures and all other NYMEX energy products will be the same as the Natural
Gas spread credits.
Should you have any questions regarding these changes, please contact Arthur
McCoy at (212) 299-2928 or Joe Sanguedolce at (212) 299-2855.  This notice
supersedes all previous notices regarding outright and spread margins for
the NYMEX Natural Gas (NG) futures contract and the NYMEX Henry Hub Swap
futures contract.


Dear rrodri2@ect.enron.com,

Thank you for filling out the eBay registration information. Now that we have
verified your email address, just one last easy step and you will be
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member.

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Daren,

FYI.

Bob


Greetings:

This item will be up for discussion in the California negotiations tomorrow
beginning at 10 AM.

We're going to have a call to discuss it tomorrow from 9 AM to 9:30 AM PDT.
You will receive a  call-in number shortly from Joseph Alamo.  If there are
others who you think ought to participate, please feel free to invite them.
Thanks.

Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 06/20/2001 05:23 PM -----

	Jeff Dasovich
	Sent by: Jeff Dasovich
	06/19/2001 07:11 PM

		 To: Tim Belden/Enron@EnronXGate, Christopher F Calger/Enron@EnronXGate,
James D Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron,
skean@enron.com, Paul Kaufman/Enron@EnronXGate, Susan J Mara/NA/Enron@ENRON,
Phillip K Allen/Enron@EnronXGate, Christian Yoder/Enron@EnronXGate, Steve C
Hall/ENRON@enronXgate
		 cc:
		 Subject: Call to Discuss Possible Options to Mitigate Effect of DWR
Contracts--Privileged and Confidential

PLEASE KEEP THIS NOTE, AND THE INFORMATION CONTAINED IN THE NOTE CONFIDENTIAL.

As folks are aware, we have been engaged in closed-door negotiations for the
past two weeks regarding a possible market-based solution to California's
electricity crisis.
In the room are the major large customer groups, environmentalists, small
customers (TURN), Independent Energy Producers, labor, the Western States
Petroleum Association, and Enron.
The negotiations were convened by the Speaker of the Assembly (Bob Hertzberg).
When Hertzberg convened the meeting, he told the parties that he wanted to
achieve a core/noncore structure, similar to the structure in place in
California's gas market (i.e., large customers are required to buy gas from
the market, with Direct Access available to all other customers).
In effect, "core" customers (rez and small business) would be served by the
utilities' retained generating assets and QF contracts; and large customers
would go to market.
The core/noncore structure would begin 1.1.03.
The negotiating group has struggled over the past two weeks, but is close
devising a framework for core/noncore in Californis (but who pays for the
utilities' past debts and the costs of DWR power purchased between January
and today remain very contentious).
Unfortunately, with the release of the information regarding the DWR
contracts last Friday, it is now clear that achieving a core/noncore
structure will be very difficult unless something is done to mitigate the
contracts.
The problem is that, if core is served by utility gen and QFs, and large
customers are in the market, there is no (or very little) need for the DWR
contracts.  Instead, they look like a signficant stranded cost.
Hertzberg and the negotiating group are looking to Enron for creative ways to
address "the DWR contract problem" in order to prevent the contracts from 1)
killing the core/noncore deal and 2) forcing California to accept a structure
focused on a state power authority headed-up by David Freeman that does not
include Direct Access.
Christian Yoder and Steve Hall are reviewing the contracts to analyze any
"out clauses" that the buyer and/or the seller might have under the contract
provisions.  (My cursory review of the contracts suggests that "outs" for the
state are minimal or nonexistent.)
In addition, we've started batting around ideas about how the State might
reform the contracts.
All this said, want to let everyone know that we have made it extremely clear
that Enron fundamentally opposes any and all attempts to unilaterally
abrogate anyone's contract rights.

We'd like to have a quick call tomorrow (30-60 minutes) to brainstorm some
options that we can offer Hertzberg to handle the contracts and keep the
core/noncore solution alive.  We'd like to try to have the the call at 1 PM
PDT.  Please let me know if this works for you, and if it doesn't, please let
me know if there's a time after 1 PM PDT that works for you.

Thanks,
Jeff


Transwestern's average deliveries to California were 1017 MMBtu/d (93%), with San Juan lateral throughput at 882 MMBtu/d.  Total East deliveries averaged 510 MMBtu/d.

El Paso's average deliveries to California were 1961 MMBtu/d (76%):
- PG&ETop, capacity of 1140 MMBtu/d, deliveries of 643 MMBtu/d (56%)
- SoCalEhr, capacity 1025 MMBtu/d, deliveries of 938 MMBtu/d (92%)
- SoCalTop, capacity 413 MMBtu/d, deliveries of 380 MMBtu/d (92%)

Friday's posted Gas Daily prices:
	SoCal gas, large pkgs	  2.34 (+.03)
	PG&E, large pkgs	  2.35 (+.09)
	TW San Juan		  n/a
	TW Permian		  2.165 (-.025)

Enron Online bases:
		Nov-Mar		Apr-Oct
Perm-CA	.15 (-.06)	    	.23 (even)
SJ - CA	.24 (-.04)  	       	.41 (-.03)
SJ-Waha	.12 (+.02)	       	.22 (-.04)
Perm-Waha	.03 (even)                 	.04 (even)


Hello:
It is the Blue Men Group.  Two friends highly recommend it.  It's in the
Astor Theatre on Lafayette in the Village.
43rd should be good.  I think you woul dhave had more flavor in Harlem though

"Jennifer White" <jenwhite7@zdnetonebox.com> on 11/21/2000 01:54:16 PM
To: john.arnold@enron.com
cc:
Subject: NY

I've been tasked with getting tickets to a show.  Was it 'Blue Men Group'
that you recommended we see?  And Michelle lives on W43rd, so it's not
as bad as you thought.

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


This time I'll include the attachment.  It must be Monday.

Kay

	Enron North America Corp.

	From:  Kay Mann                           06/12/2000 10:30 AM

To: Brian D Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peggy
Banczak/HOU/ECT@ECT, Steve Irvin/HOU/ECT@ECT, sjensen@bracepatt.com, Jeff
Blumenthal/HOU/ECT@ECT
cc:

Subject: Vitro consolidation agreement

Team Vitro:

I wanted to run these changes by you before sending them to Jeff Smith.

Jeff S. has lobbied for deleting the language on assignment, and state that
assignment of the consolidation agreement will be subject to the same terms,
etc. as the other 2 contracts.  He also provide alternative language which
appears to be close to what was in the previous draft. Since I didn't know
the genesis of the language in the consolidation agreement, so I thought I
would check with you first.

I eliminated 5 (a) because the contracts allow for partial termination.


Shelley,
Since Steve and Kevin are out, I'll wade in here.  The TW Red Rock expansion
is for 150,000 Dth/d.  It is a mainline expansion, allowing Transwestern to
flow west from receipt points East of Thoreau to the California border.  As
you recall, we held an open season in November for an [undefined] expansion
to the system.  Customers were encouraged to define volumes/price/path in
their expressions of interest.  As you'd expect, we received wide-ranging
expressions of interest for various locations/term lengths/paths/pricing.
After months of work to define the most economical project for TW, we were
able just this week to go back to the original open season respondents and
define the project for them.  We've given them until March 2 to provide us
with a binding bid for capacity in the expansion.  We'll look at those bids
once they're received and sort/allocate them [in the event volumes bid exceed
150,000] according to our tariff.   We've identified what receipt and
delivery point capacities are available for customers on the expansion.
There is no capacity available for deliveries to SoCal Gas at Needles.  We
expect gas to be delivered to PG&E, Southwest Gas and the two new power
plants recently constructed off TW at the Cal. border.

In my view, and I think a view shared by many, is that there really isn't
[necessarily] a lack of upstream interstate capacity.  Rather, the bigger
obstacle to meeting growing gas demand in [Southern] California are the
physical and regulatory bottlenecks in the California utility systems.  For
example, SoCal Gas has a physical bottleneck coming off TW into its Line 235
that limits TW to 750,000 Mcf/d sustainable capacity.  With the addition of a
modest horsepower increase at the SoCal Gas receiving station, they could
easily take another 150,000 Mcf/d off TW.  Similar bottlenecks exist into
SoCal Gas Line 3000 system off EPNG at Topock, as well as the interconnect
with PG&E and Kern/Mojave at Wheeler Ridge.  The Line 225 takeaway capacity
from Wheeler Ridge is rated only at 680,000 Mcf/d.  PG&E and Kern/Mojave
could easily deliver over 1 Bcf/d.  The problem at Wheeler Ridge will only be
exacerbated if both PG&E and Kern are successful in building expansions to
their systems.  The clearest description of this problem I've ever heard came
from Jeff Dasovich.  Jeff likened the interstate pipelines serving California
to "an interstate highway system that ends in a dirt road."  The gas
transmission infrastructure in California has been sorely neglected.  In
fact, if it hadn't been for the construction of Kern/Mojave in the early
'90's building directly into Kern County, problems would be much worse
today.  The issue has reached such a crescendo in California, that even SoCal
Gas is convening an industry "forum" to discuss intrastate infrastructure
issues on March 8.  Transwestern will be represented there.

As to regulatory bottlenecks, the CPUC launched an investigation a couple of
years ago into the unbundling of the gas industry in California.  In an
unprecedented effort, the majority of stakeholders in the SoCal Gas system;
marketers, producers, pipelines, the CPUC's own Office of Ratepayer
Advocates, and SoCal Gas itself, offered up a comprehensive unbundling
proposal to the CPUC for its consideration and approval.  Unforntunately, the
vested interests of the new owners of former utility generation, used to
having SoCal Gas system resources for balancing/swings [paid for by other
customer classes], put up significant resistance to the comprehensive
settlement proposal.  This generator opposition, along with the well
publicized timing of problems blamed on electric system unbundling, have put
a stake in the heart of the regulatory reform process.

To answer your question about larger expansions, as I said above, I'm not
sure that additional interstate pipe [beyond the current list of expansions
on TW, PG&E and Kern] necessarily has to be put into the ground in order to
meet near term (3-5 year) demand in California.  However, I do believe that
California must take a rational look at its infrastructure needs with an eye
towards relieving significant physical and regulatory bottlenecks in its
intrastate transmission system.

 -----Original Message-----
From:  Corman, Shelley
Sent: Wednesday, February 21, 2001 7:19 PM
To: Miller, Mary Kay; Fossum, Drew; Harris, Steven; Hyatt, Kevin; Scott,
Susan; Fawcett, Jeffery; Petersen, Keith; Lowry, Phil; Martin, Jerry D.;
Shafer, John; Keller, John
Subject: California Data Requested

Through INGAA, Kevin Madden has requested certain information related to the
issue of new infrastructure to serve the California market.  He asked INGAA
to ask each of its members whether they had plans for new capacity to
California and what obstacles exist in meeting California demand.  He asked
what FERC can do to speed the process of getting new pipe in the ground?

I responded that yes Transwestern is looking at expansion opportunities.
Obstacles include intrastate infrastructure and air permitting times.  Kevin
replied that he had heard these same exact themes from El Paso, but would
like to know more.  Phil Lowry suggested at staff meeting that getting
equipment is more of a critical path than air permitting.  This should be
factored into any further response.  Stan is planning to see Kevin next
Tues.  I need to put together information responsive to Kevin's requests by
this Friday.  Here is my outline of data that I need to gather:

Transwestern Expansion
? Red Rock project -- size, timing, etc.
? Longer term expansion?
? Review jurisdictional obstacles to building into the state?

State of Intrastate Infrastructure
? Provide copy of recent California Energy Committee Study
? Check with Jeff Dasovich for other materials.

Air Permitting - outline of process / timing

Equipment Procurement - lead times, shortages, other issues

What help are we looking for from FERC?
? Emergency certificate?

Please let me know if you can supply me with any of the information on this
outline.


Hot mail does not seem to work.  I received a rejection notice again.  Storage levels are exceeded.

 -----Original Message-----
From: 	Bike, Anne
Sent:	Tuesday, May 29, 2001 7:35 PM
To:	'mikegrigsby@hotmail.com'; MonIque Sanchez (E-mail)
Subject:	Tuesday's P/L

For NX!, it was not too bad.  Have a great evening !  Let me know if you have any questions in the morning.

Thanks

Anne


----- Forwarded by Steven J Kean/NA/Enron on 02/28/2001 02:07 PM -----

	James D Steffes
	02/27/2001 02:15 PM

		 To: Alan Comnes/PDX/ECT@ECT, bhansen@lhom.com, Harry
Kingerski/NA/Enron@Enron, hgovenar@govadv.com, Janel
Guerrero/Corp/Enron@Enron, JBennett@GMSSR.com, Jeff Dasovich/NA/Enron@Enron,
jkradin@marathon-com.com, Joe Hartsoe/Corp/Enron@ENRON, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Karen Denne/Corp/Enron@ENRON,
Linda Robertson/NA/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, mday@gmssr.com, Paul Kaufman/PDX/ECT@ECT,
rcarroll@bracepatt.com, rlichtenstein@marathon-com.com, Richard
Shapiro/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron,
syamane@marathon-com.com, SGovenar@govadv.com, Steven J Kean/NA/Enron@Enron,
Susan J Mara/NA/Enron, ken@kdscommunications.com
		 cc:
		 Subject: CA Supply Realities

Here are the facts to be converted into Talking Points / Facts Sheet for CA
TEAM.

Thanks,

Jim

----- Forwarded by James D Steffes/NA/Enron on 02/27/2001 02:14 PM -----

	Mary Schoen
	02/22/2001 02:55 PM

		 To: Neil Bresnan/HOU/EES@EES, Alan Comnes/PDX/ECT@ECT, Jubran
Whalan/HOU/EES@EES, Kristin Walsh/HOU/ECT@ECT, Clayton Seigle/HOU/ECT@ECT,
Jeffrey Keeler/Corp/Enron@ENRON, James D Steffes/NA/Enron@Enron, Harry
Kingerski/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Janel
Guerrero/Corp/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Paul Kaufman/PDX/ECT@ECT
		 cc:
		 Subject: CA Supply Realities

Attached is a memo comparing the CEC's forecasted supply and a more realistic
look at what additional resources might be available this summer.

The bottom line is that:

1.  The CEC significantly underestimates the outages that may occur this
summer.  They estimate in their 5,000 MW supply deficit for the summer that
expected outages will be around 3,000MW.  However, November and December saw
significantly higher outage levels.  (7,265 MWs) The FERC has investigated
these outages and found no improprieties- just that the plants are overtaxed
from running at higher than normal capacities.

2.  There are a lot of uncertainties surrounding the 1,244 MWs of projected
supply from rerating/restarting existing thermal and renewable projects.  It
is very unclear how much of this will be able to come on line by this summer,
if at all.  As evidenced by the e-mail I sent out this morning, local
communities may be very opposed to restarting shut down units.  In addition,
these units are likely to be uneconomical.

3.  In the existing resource pool, there are roughly 1,430 MWs of peaking or
other generation units that are running up against their operating hour
limitations from air quality regulations.  The Governor has ordered the local
air quality districts to address these restrictions,  We are beginning to
seem some movement; however, the US EPA has yet to weigh in on these relaxed
standards.

4.  The distributed generation/back-up generation capacity to make up some of
the shortfall is still an unknown.  While there has been some relaxing of the
limitations on run hours for back-up generation at "essential public
services" the increase in DG is expected from "clean" sources, not diesel
emergency generators.

5.  The CEC is doing everything it can to get 50+ MW peaking units on-line by
this summer.  They are promising a 21-day permit application approval process
and are offering to pay half of the cost of offsets, for "clean" sources of
generation in critical areas.

Please let me know if you have any questions or need additional information.

CEC's Summer Forecasted Peak Demand - Resource Balance:

List of Peakers running into their operating hour limitations:

Also available in hard copy format only:
(please e-mail me your fax number if you'd like a copy)

Table 1:  Fully Executed CA ISO Summer Reliability Agreements (the ISO
Peaking Facilities)
Table 2:  Summer 2001 Supply Options - Renewables Construction Status Summary
Table 3:  Summer 2001 Supply Options - Rerate of Non-CEC Projects
Table 4:  Summer 2001 Supply Options - CEC Rerate Status Summary
Table 5:  Idle Biomass Plants Potentially Capable of Restart
Mary Schoen
Environmental Strategies
Enron Corp
713-345-7422


J

I think we could get below $60 on a 5 year deal with a bell shaped load
profile at SP-15.  I do not think we can get there for the SDG&E zone.  In
fact, I don't think Tim will want to sell the SDG&E zone at all.  If we offer
it, it will be at a significant premium to SP-15.

We just showed SCE $58 for a 5 year peak (By the way, like the SDG&E RFP, the
SCE RFP resulted in no transactions because they did not get pre-approved
reasonableness review and they were too chicken to do it at shareholder
risk.  The PG&E RFP for essentially the same deal structure is due tomorrow
and we will be responding.  With the PG&E RFP, prices can be changed oon
October 11 so  the prices we will show them now are indicative only).

Get me that load profile data and I will put together a deal structure.    I
wil also be working with the traders to address this "new zone" issue as it
exists for all three utilities, not just SDG&E.

C

James D Steffes@EES
09/12/2000 07:39 AM
To: Chris H Foster/HOU/ECT@ECT
cc: thane twiggs
Subject: SDG&E Requirements Deal

Chris --

I agree with you on the difficulty of a "true" full requirements deal.  I
assume what you are talking about is some pre-agreed to 100% load factor
energy delivery that could be different for each hour during the year (a sort
of "load profile solution").  SDG&E would be responsible for +/- around this
delivery?  Maybe offer SDG&E an option on wide variations.

The other key issue I guess that is important is transmission congestion
risk.  Would EPMI be willing to agree to deliver the energy into the SDG&E
load zone or just to SP15?  It is my understanding that there is a
significant economic difference the SP15 and specific load zones?  Am I
correct in my thinking?

We probably need to beat $60/Mwh and leave $5/Mwh for the load following.  We
may need to go even lower (if possible) to give SDG&E room to recover this
summer's high cost of power with the retroactive retail ratemaking back
through July 1, 2000.

On your issue of CPUC approval, that is exactly the play.  We need to walk
into the CPUC with an offer that it can't pass up (with or without SDG&E).

I've asked Thane Twiggs to get you the appropriate 8760 load profile for
SDG&E residential customers.  While the rate deal was broader, we could just
supply this customer group.

I'll call when we have the information.

Jim

To: James D Steffes/HOU/EES@EES
cc: Christopher F Calger/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT
Subject: Re: SDG&E Bilateral Authority Delay

Jim:

A couple thoughts...

I don't think Tim would be interested in a true "Full Requirements" deal that
would put us at risk for actual load.  If we could define "Full Requirements"
as a load profile that has been set ahead of time, and have SDG&E be at risk
for deviations from that profile, then I think we would be interested.  With
this structure, we could offer a fixed price equal to the weighted average
price of their load profile.  If that fixed price was lower than the SDG&E
embedded generation cost in rates we might have an angle. "Winning" such a
deal still seems like a pretty low probability event, given SDG&E's desire to
RFP everything.  However, SDG&E's (and SCE's) main objective seems to be
pre-approved reasonableness review.  Since they can't make money on
commodity, at least they don't want to lose money.  Maybe we could get the
approval of the CPUC? SDG&E wouldn't mind buying from us if this is what it
took to get pre-approved reasonableness review.

If someone could get me that load profile information, I would be willing to
price it up.

Let me know what you think.

C
---------------------- Forwarded by Chris H Foster/HOU/ECT on 09/11/2000
01:09 PM ---------------------------

James D Steffes@EES
09/11/2000 01:12 PM
To: Chris H Foster/HOU/ECT@ECT
cc: Christopher F Calger/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT, David
Parquet/SF/ECT@ECT, Jeff Dasovich/SFO/EES@EES, Steven J Kean/NA/Enron@Enron,
Mark Palmer/Corp/Enron@ENRON, Richard Shapiro/HOU/EES@EES
Subject: Re: SDG&E Bilateral Authority Delay

Chris --

Given this development, now may be the right time for Enron to come in and
make a "public" offer to SDG&E.  We may be able to put some pressure on the
CPUC to approve a full requirements offer that works with the legislative
rate cap.

I'll be in contact with you to discuss.

Jim

To: James D Steffes/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Tim
Belden/HOU/ECT@ECT, David Parquet/SF/ECT@ECT, Jeff Dasovich/SFO/EES@EES
cc:
Subject: SDG&E Bilateral Authority Delay

Surprise, surprise.

SDG&E is afraid to do anything without the pre-approved reasonableness from
the CPUC which I don't think will be obtained.

Chris

Chris
---------------------- Forwarded by Chris H Foster/HOU/ECT on 09/11/2000
05:59 AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Firooz, Sharon" <SFirooz@SDGE.com>
09/08/2000 05:32 PM

To: "Hart, Dana" <DHart@SDGE.com>, "'agalatic@internetconnect.net'"
<agalatic@internetconnect.net>, "'al_figueroa@vflet.com'"
<al_figueroa@vflet.com>, "'bbowman@coral-energy.com'"
<bbowman@coral-energy.com>, "'biggsbg@bp.com'" <biggsbg@bp.com>,
"'bob_anderson@apses.com'" <bob_anderson@apses.com>,
"'ccantor@sempratrading.com'" <ccantor@sempratrading.com>,
"'cfoster@enron.com'" <cfoster@enron.com>, "'david_metz@apsc.com'"
<david_metz@apsc.com>, "'dcazalet@apx.com'" <dcazalet@apx.com>,
"'dgordon@exchange.ml.com'" <dgordon@exchange.ml.com>,
"'dirk.andreas@nrgenergy.com'" <dirk.andreas@nrgenergy.com>,
"'dparque@ect.enron.com'" <dparque@ect.enron.com>,
"'dpenney@coral-energy.com'" <dpenney@coral-energy.com>,
"'emaddox@seawestwindpower.com'" <emaddox@seawestwindpower.com>,
"'gkosier@newenergy.com'" <gkosier@newenergy.com>, "'gluna@sempra-slns.com'"
<gluna@sempra-slns.com>, "'greg.kelly@gen.pge.com'" <greg.kelly@gen.pge.com>,
"'hreed@powersrc.com'" <hreed@powersrc.com>,
"'jackmcnamara.geothermal@att.net'" <jackmcnamara.geothermal@att.net>,
"'james.north@msdw.com'" <james.north@msdw.com>,
"'jay.alexander@southernenergy.com'" <jay.alexander@southernenergy.com>,
"'jdcoggin@srpnet.com'" <jdcoggin@srpnet.com>, "'jim_staggs@apses.com'"
<jim_staggs@apses.com>, "'jivey@utilicorp.com'" <jivey@utilicorp.com>,
"'john_h_stout@reliantenergy.com'" <john_h_stout@reliantenergy.com>,
"'jon.fischer@pacificorp.com'" <jon.fischer@pacificorp.com>,
"'jpmarchand@aep.com'" <jpmarchand@aep.com>,
"'Kristen_L_Sullivan@reliantenergy.com'"
<Kristen_L_Sullivan@reliantenergy.com>, "'lbryant@pnm.com'"
<lbryant@pnm.com>, "'leah.bissonette@williams.com'"
<leah.bissonette@williams.com>, "'Lhamilton@avistaenergy.com'"
<Lhamilton@avistaenergy.com>, "'marvin_k_ballard@reliantenergy.com'"
<marvin_k_ballard@reliantenergy.com>, "'medwar@ladwp.com'"
<medwar@ladwp.com>, "'njwa@dynegy.com'" <njwa@dynegy.com>,
"'peterc@calpine.com'" <peterc@calpine.com>, "'priced@epenergy.com'"
<priced@epenergy.com>, "'pscarpelli@retx.com'" <pscarpelli@retx.com>,
"'rproush@duke-energy.com'" <rproush@duke-energy.com>, "'rshimizu@mieco.com'"
<rshimizu@mieco.com>, "'sbvanleer@duke-energy.com'"
<sbvanleer@duke-energy.com>, "'shapp@caiso.com'" <shapp@caiso.com>,
"'stacey.kusters@powerex.com'" <stacey.kusters@powerex.com>,
"'szablyal@epenergy.com'" <szablyal@epenergy.com>,
"'tmcandrew@statoilenergy.com'" <tmcandrew@statoilenergy.com>
cc:
Subject: SDG&E Bilateral Authority Delay

SDG&E would like to inform you that  we did not gain authority from the
commission on 9/7 and cannot enter into bilateral trades at present; (2) we
anticipate receiving that approval on September 21; we will solicit new
proposals between now and then and look forward to your continuing
participation, as well as your assistance in gaining the necessary
regulatory approvals.  Thanks


Energy Industry Professional:

Global Change Associates and the MYA Group announce the "Green Trading Summit. " This is first conference attacking the triple convergence of the new markets of emissions, renewables and negawatt trading in a risk management
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 are participating at this ground breaking event.

For further information, click www.global-change.com/conference.html. If you would like to deleted from this list, please click, info@global-change.com and type remove. We are sorry for any inconvenience.


SSB Electrical Equipment Analyst Power Supply/Demand Outlook

*	Jeff Sprague, SSB's Electrical Equipment analyst, has an interesting
perspective on the supply/demand balance for power.  His forecast is based
on GE's order book for turbines, which we think is an excellent source of
info.
*	Jeff points out that no orders have been canceled so far.
*	Although there are slight differences in our estimations of new
plant builds (his is higher) and reserve margin (his is higher), we think
this info. supports our view.  On the margin, new plant builds exceed
demand, and reduce the tightness in the market, as measured by reserve
margins.  We think there will be downward pressure on power prices and spark
spreads in this environment.

I've also attached Jeff's comments below, which he sent to his clients,
vis-a-vis the Electrical Equipment sector and GE in particular, as well as
our recent PC6 report, for reference.  Any questions, please call. - Ray

 <<PC6final.pdf>>  <<Sprague--Supply&Demand--client.xls>>

Jeff's Sprague's (212-816-6699) comments:

GE stock has been weak in recent days as concerns about lower power prices
have hurt utility stocks and raised the fear that power capacity is being
overbuilt.

Ultimately enough capacity will be deployed in the US, but we do not believe
we are there yet.  Based on our analysis of GE's delivery plans, the US will
reach a 14% reserve margin (based on capability at summer peak load) in
2002.

We do not expect the industry to ever return to the 20%+ reserve margins of
yesteryear, but 14% seems far from excessive given the very severe
shortcomings of the electrical grid (see our 6/4 report on the grid).

If GE's output in '03 is flat with '02, reserve margins would rise to a
still reasonable 16%.  GE has filled 90-95% of its backlog for 2003 and has
experienced no cancellations or push-outs in orders to date.

The bottom line is we believe the sell-off in GE is overdone.  We will
publish a more detailed report on the supply demand equation in the U.S.
power market in the coming days.  Please see the attached spreadsheet for a
more detailed analysis.

Raymond C. Niles
Power/Natural Gas Research
Salomon Smith Barney
(212) 816-2807
ray.niles@ssmb.com

s

 - PC6final.pdf
 - Sprague--Supply&Demand--client.xls


Please make sure your staff receives this if they are not included on the
distribution below.  I hope all will understand the importance of
confidentiality as well as the importance of their jobs and skills.  Thanks
for reinforcing it!
---------------------- Forwarded by Brenda F Herod/HOU/ECT on 07/20/2000
11:02 AM ---------------------------

	From:  Brian Redmond                           07/19/2000 02:42 PM

Sent by: Lillian Carroll
To: Jim Coffey/HOU/ECT@ECT, Lisa Lunz/Corp/Enron@ENRON, Susie
Orsak/Corp/Enron@Enron, Susie Orsak/Corp/Enron@Enron, Arize
Agumadu/NA/Enron@Enron, Karry Kendall/HOU/ECT@ECT, Yvette
Miroballi/HOU/ECT@ECT, Karen Gruesen/HOU/ECT@ECT, Melissa Graves/HOU/ECT@ECT,
Anita Eisenbrandt/HOU/ECT@ECT, Cassandra Pollack/Corp/Enron@ENRON, Rabia
Basit/Corp/Enron@Enron, Carol Carter/HOU/ECT@ECT, Jackie Nelson/HOU/ECT@ECT,
Blanca A Lopez/HOU/ECT@ECT, Alexia O Pearce/HOU/ECT@ECT, Rhonda
Washington/HOU/ECT@ECT, Meredith Powers/HOU/ECT@ECT, Ruby
Wagoner/HOU/ECT@ECT, Luis Davila/HOU/ECT@ECT, Katherine
Crosswhite/HOU/ECT@ECT, Susan Smith/HOU/ECT@ECT, Vance L Taylor/HOU/ECT@ECT,
Donald P Reinhardt/HOU/ECT@ECT, Nancy Hall/HOU/ECT@ECT, Leticia
Leal/HOU/ECT@ECT, Melanie Facundo/HOU/ECT@ECT, Xochitl-Alexis
Velasco/HOU/ECT@ECT, Venita Coleman/Corp/Enron@Enron, Monica
Jackson/Corp/Enron@ENRON, Lacye Brymer/NA/Enron@Enron, Melissa
Jones/NA/Enron@ENRON, Katherine Crosswhite/HOU/ECT@ECT, Mirna
Mejia/HOU/ECT@ECT, Julie A Gomez/HOU/ECT@ECT, Nick
Cocavessis/Corp/Enron@ENRON, Jean Mrha/NA/Enron@Enron, Steve HPL
Schneider/HOU/ECT@ECT, Thomas A Martin/HOU/ECT@ECT, Mark
Courtney/HOU/ECT@ECT, Mark Knippa/HOU/ECT@ECT, John Scarborough/HOU/ECT@ECT,
Carol Carter/HOU/ECT@ECT, Petual Jeanmard/Corp/Enron@Enron, Morela
Hernandez/Corp/Enron@Enron, Kevin Kuehler/Corp/Enron@ENRON, Valerie
Urbanek/Corp/Enron@ENRON, Reid Hansen/GCO/Enron@Enron, Robert
Geheb/GCO/Enron@Enron, Tom Fry/GCO/Enron@Enron, Calvin Dodd/GCO/Enron@Enron,
Vicente Sarmiento/GCO/Enron@Enron, Eugene Peabody/GCO/Enron@Enron, Don
Thomas/GCO/Enron@Enron, J R Fosdick/GCO/Enron@Enron, Bac Thi
Ly/GCO/Enron@Enron, Bob Camp/GCO/Enron@Enron, Joe Zernicek/GCO/Enron@Enron,
John Peyton/HOU/ECT@ECT, Keith MacIvor/Corp/Enron@ENRON, Paul
Bieniawski/Corp/Enron@ENRON, John Allario/HOU/ECT@ECT, Garry D
Wilson/HOU/ECT@ECT, Jin Guo/HOU/ECT@ECT, Stephanie Miller/Corp/Enron@ENRON,
Rebecca W Cantrell/HOU/ECT@ECT, Melinda Pharms/HOU/ECT@ECT, Chris
Meyer/HOU/ECT@ECT, John Hodge/Corp/Enron@ENRON, Janet
Edwards/Corp/Enron@ENRON, Ruth Concannon/HOU/ECT@ECT, Fannette A
Perry/HOU/ECT@ECT, Brad Blevins/HOU/ECT@ECT, Lal Echterhoff/HOU/ECT@ECT,
James R Haden/HOU/ECT@ECT, Audrey Pullen/HOU/ECT@ECT, Chris
Sonneborn/HOU/ECT@ECT, Ping He/Corp/Enron@Enron, Gas Control, Tom
Acton/Corp/Enron@ENRON, Clem Cernosek/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON, George Grant/HOU/ECT@ECT, Charlotte
Hawkins/HOU/ECT@ECT, Aimee Lannou/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT,
Mark McCoy/Corp/Enron@Enron, Stella L Morris/HOU/ECT@ECT, Carlos J
Rodriguez/HOU/ECT@ECT, Susan D Trevino/HOU/ECT@ECT, Kimberly
Vaughn/HOU/ECT@ECT, Jackie Young/HOU/ECT@ECT, Sabrae Zajac/HOU/ECT@ECT, Lisa
Hesse/HOU/ECT@ECT, Mary M Smith/HOU/ECT@ECT, Heidi Withers/HOU/ECT@ECT, Daren
J Farmer/HOU/ECT@ECT, Stacey Neuweiler/HOU/ECT@ECT, Jim
Schwieger/HOU/ECT@ECT, Kenny J Soignet/HOU/ECT@ECT, Edward D
Gottlob/HOU/ECT@ECT, Lauri A Allen/HOU/ECT@ECT, Greg Brazaitis/HOU/ECT@ECT,
Gary W Lamphier/HOU/ECT@ECT, Lee L Papayoti/HOU/ECT@ECT, Janet H
Wallis/HOU/ECT@ECT, Ned Higgins/HOU/ECT@ECT, James
Whitehead/Corp/Enron@ENRON, James I Ducote/HOU/ECT@ECT, Michael W
Morris/HOU/ECT@ECT, Blake Lasuzzo/Corp/Enron@Enron, Barbara N
Gray/HOU/ECT@ECT, Paula Craft/HOU/ECT@ECT, Roger Balog/HOU/ECT@ECT, Sandi M
Braband/HOU/ECT@ECT, Shonnie Daniel/HOU/ECT@ECT, Gerald Nemec/HOU/ECT@ECT,
Steve Van Hooser/HOU/ECT@ECT, Ann Elizabeth White/HOU/ECT@ECT, Mary
Ogden/HOU/ECT@ECT, Robert Walker/HOU/ECT@ECT, Erica Braden/HOU/ECT@ECT, Pat
Radford/HOU/ECT@ECT, Becky Tlucek/HOU/ECT@ECT, Kimberlee A
Bennick/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Jenny Helton/HOU/ECT@ect,
Chaundra Woods/HOU/ECT@ECT, Eric Gillaspie/HOU/ECT@ECT, Shawna
Flynn/HOU/ECT@ECT, W Tom Byargeon/HOU/ECT@ECT, Kevin Miller/Corp/Enron@Enron,
Ken Loch/Corp/Enron@Enron, Johnnie Williams/HOU/ECT@ECT, Ryan
Hinze/Corp/Enron@ENRON, Lori Hope/HOU/ECT@ect, Emma Kam Welsch/HOU/ECT@ECT,
Nathan L Hlavaty/HOU/ECT@ECT, Candace L Bywaters/HOU/ECT@ECT, Gerald
Lofton/HOU/ECT@ECT, Cheryl Lantz Marshall/HOU/ECT@ECT, Tom
Shelton/HOU/ECT@ECT, Ron Green/Corp/Enron@Enron, Kenneth W Kaase/HOU/ECT@ECT,
Perry Roberts/GCO/Enron@ENRON, John Miska/GCO/Enron@ENRON, Kenny
Cooper/GCO/Enron@ENRON, Sean Brooks/GCO/Enron@ENRON, Fred
Biery/GCO/Enron@ENRON, Kelley Myers/GCO/Enron@ENRON, John
Towles/NA/Enron@ENRON, Karl E Atkins/NA/Enron@ENRON, Debbie
Boudar/NA/Enron@ENRON, Aric Archie/NA/Enron@Enron, Robert
Rose/NA/Enron@ENRON, Ken Parker/HOU/ECT@ECT, Roger Spiller/OTS/Enron@ENRON,
Ron Tapscott/HOU/ECT@ECT, Dan Staines/HOU/ECT@ECT, Michelle
Zhang/HOU/ECT@ECT, Scott A Monson/HOU/ECT@ECT, Steve Walton/HOU/ECT@ECT,
Jeffrey A Austin/HOU/ECT@ECT, Jill T Zivley/HOU/ECT@ECT, Mary Jo
Johnson/HOU/ECT@ECT, Gary Bryan/HOU/ECT@ECT, Brian M Riley/HOU/ECT@ECT,
Jennifer Martinez/HOU/ECT@ECT, George Weissman/HOU/ECT@ECT, Michael C
Bilberry/HOU/ECT@ECT, Michelle Terry/Corp/Enron@Enron, JoAnne
Wagstaff/NA/Enron@Enron, Christy Sweeney/HOU/ECT@ECT, Peter
Bennett/Corp/Enron@ENRON, Michael Eiben/HOU/ECT@ECT, Irene Flynn/HOU/ECT@ECT,
Juanita Marchand/HOU/ECT@ECT, Chris Riegler/Corp/Enron@Enron, Karl
Stewart/HOU/ECT@ECT, Kim Weldon/Corp/Enron@Enron, Amelia Alland/HOU/ECT@ECT,
Cheryl Dudley/HOU/ECT@ECT, Cathy L Harris/HOU/ECT@ECT, Jackie
Morgan/HOU/ECT@ECT, Donna Consemiu/HOU/ECT@ECT, Robert Cook/HOU/ECT@ECT,
Molly L Carriere/HOU/ECT@ECT, Robert Crockett/HOU/ECT@ECT, Christopher
Daniel/HOU/ECT@ECT, John Handley/HOU/ECT@ECT, Theresa McKinney/HOU/ECT@ECT,
Adriana Peterson/HOU/ECT@ECT, Barbara Sargent/HOU/ECT@ECT, Eric H
Mason/Corp/Enron@Enron, Trading, David Baumbach/HOU/ECT@ECT, Ami
Chokshi/Corp/Enron@ENRON, Jody Crook/Corp/Enron@ENRON, Bryan
Hull/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT, Steve Venturatos/HOU/ECT@ECT,
Michael Walters/HOU/ECT@ECT, O'Neal D Winfree/HOU/ECT@ECT, Yvette G
Connevey/Corp/Enron@ENRON, Brenda F Herod/HOU/ECT@ECT, Paul
Couvillon/Corp/Enron@Enron, Lisa Csikos/HOU/ECT@ECT, Stephanie
Gomes/HOU/ECT@ECT, Cynthia Hakemack/HOU/ECT@ECT, Kristen J
Hanson/HOU/ECT@ECT, Katherine Herrera/Corp/Enron@ENRON, Gregg
Lenart/HOU/ECT@ECT, Kyle R Lilly/HOU/ECT@ECT, Nick Moshou/Corp/Enron@ENRON,
Joanie H Ngo/HOU/ECT@ECT, Hannah Ortiz/HOU/ECT@ECT, Megan
Parker/Corp/Enron@ENRON, Charlene Richmond/HOU/ECT@ECT, Tina
Valadez/HOU/ECT@ECT, Harold Bertram/HOU/ECT@ECT, Troy Denetsosie/HOU/ECT@ECT,
Volume Management, Brian Bierbach/DEN/ECT@Enron, Mark Whitt/DEN/ECT@Enron,
Michael J Legler/HOU/ECT@Enron, James Hoff/DEN/ECT@Enron, Paul T
Lucci/DEN/ECT@Enron, Scott Sitter/DEN/ECT@Enron, Nicole Cortez/DEN/ECT@Enron,
Theresa Staab/Corp/Enron@ENRON, Heidi DuBose/DEN/ECT@Enron
cc:
Subject: HPL Optimization

Team,

As I mentioned in our HPL staff meeting we are investigating the merits of
entering into a joint venture or another transaction structure that will
position HPL to effectively compete in the Texas intrastate market.  Our
primary objective is to gain access to additional sources of gas supply and
achieve the required economies of scale to compete with other intrastate
pipelines. I would appreciate your confidence and support in developing the
optimal course of action for HPL and for Enron.

The skills that we have developed in our group are critical to growing our
Upstream Origination business in N. America, as well as to the ongoing
operation of HPL.  Our origination strategy is to leverage our business
operations, field operations, engineering, producer services, and marketing
skills to capture value from transportation, gathering, storage and commodity
opportunities on the gas/power grids.   We need our current employees to
accomplish this objective across N. America.

We have proven our ability to add value to Enron by developing the
Powder/Wind River pipelines, installing electric compressors, contracting for
processing capacity, and establishing a new gas supply corridor along the
Gulf Coast.  Our recent efforts to provide services such as business
operations, measurement, trading/marketing, and accounting services to third
party producers and pipelines also looks to be a promising growth opportunity.

It is very important to our ongoing business relationships and our
competitive position in the market place that we DO NOT discuss HPL related
matters with third parties.  Please come see me if you have any specific
questions or concerns.  Also please refer any third party inquiries regarding
HPL to Tim Determing.

Regards,
Brian


please let Ann K./ Barbara G. know about this case
----- Forwarded by Richard B Sanders/HOU/ECT on 03/06/2001 09:21 AM -----

	Becky Stephens/ENRON@enronXgate
	03/05/2001 03:53 PM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc: Linda R Guinn/HOU/ECT@ECT, Bonnie White/ENRON@enronXgate
		 Subject: service of process

The following documents, received today, have been forwarded for your
immediate attention:

Robert W. Ray, Jr., et al. v. Armstrong World Industries, Inc. (successor to
Armstrong Cork Company); et al. (including Houston Pipe Line Company); No.
00-7-55,070-B, In the 135th Judicial District Court, Victoria County, Texas.
CITATION, PLAINTIFFS, FIRST AMENDED ORIGINAL ASBESTOS PETITION and JURY
DEMAND to Houston Pipe Line Company by process server on 3/2/01.

PLEASE ADVISE IF YOU DO NOT RECEIVE WITHIN 1 BUSINESS DAY.

Thank you !!

Becky A. Stephens
Support Services Coordinator
Enron Litigation Unit, EB4809
713/853-5025
713/853-6576 (fax)
Becky.Stephens@enron.com