Ken, I think we should pass on the sponsorship of this event.

If you have a different view, lets discuss at your earliest convenience.

Thanks
Delainey


Gnny,  Please see the bold sentence I added.  Wanted to make it clear that
there would be no double interest.  Let me know if that works for you.  I
have left a voicemail with Enron Corp. counsel to review this and the other
items we discussed yesterday.  Hopefully we can get this settled today.
Thanks.

	"Levenback, Virginia C" <Virginia.C.Levenback@Williams.com>
	03/21/2001 09:37 AM

		 To: "'gerald.nemec@enron.com'" <gerald.nemec@enron.com>
		 cc: "Anderson, Toi L" <Toi.L.Anderson@Williams.com>, "Alvarado, Orlando"
<Orlando.Alvarado@Williams.com>
		 Subject: Enron Corporate Guaranty

???????
??????? As we discussed, outlined below is a sentence that Transco proposes
to insert to replace the language stricken by Enron at the end of Paragraph 2
of the Guaranty to address Enron's concerns about over-collecting interest
for late payments:

??????? "If Guarantor fails to make timely payment of the amount of the
Payment Demand, then Counterparty shall be entitled to collect the amount of
the Payment Demand together with interest calculated in accordance with
Section 7(c) of the General Terms and Conditions of Counterparty's FERC Gas
Tariff as amended from time-to-time.  Notwithstanding the foregoing,
Counterparty shall not be entitled to collect such interest, to the extent
such interest has already been assessed due to Company's failure to pay any
Obligations which are the subject of the Payment Demand.

??????? Please call me at (713) 215-2810 to discuss Transco's revised
language.? We look forward to finalizing the Guaranty today if possible.?
Thanks for your cooperation.? Gnny Levenback


Hello there,

Here's the LV Co Gen break out contract with the assortment of turbines,
including the 3 turbines from the new order.  I haven't quite figured out the
route, but I think this is the correct destination.

Due to the Delta schedule, it would be very helpful to get closure on this
form by April 10th.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/05/2001 04:10
PM ---------------------------

"Thompson, Peter J." <pthompson@akllp.com> on 04/05/2001 04:02:13 PM
To: "Kay Mann (E-mail)" <kay.mann@enron.com>, "Lee. Johnson (E-mail)"
<lee.johnson@ss.ps.ge.com>
cc: "Pipitone, Paul" <paulpipitone@akllp.com>

Subject: LV Cogen Turbine Agreement

 Attached please find the latest LV Cogen Turbine Agreement
(second document below), as well as a blackline (first document below)
showing changes made to the March 27 version. I have included Lee's
changes to the performance values in Sections 10.7 and 10.8  In addition
I have made changes to the Maximum Liability, Unit Liability and
Purchase Amounts and payment schedule. For the Guaranteed Delivery
dates, I have used the Ready to Ship Dates contained in the Agreement in
Principle.  To complete the agreement, we will need to insert the date
of execution and Exhibit H-2.
 <<DVComparison_WAS_86024_1-WAS_86024_2.DOC>>  <<LV Cogen Gas Turbine
Agreement.DOC>>
 - DVComparison_WAS_86024_1-WAS_86024_2.DOC
 - LV Cogen Gas Turbine Agreement.DOC


Attached please find Word and Wordperfect versions of Tom  Beach's draft
rebuttal testimony in the Gas OIR proceeding, on behalf of the  Indicated
Electric Generators.
I look forward to comments from any of the supporters of the  Comprehensive
Settlement.
?
Tom Beach
 - EG Rebuttal Testimony on GIR Settlement.doc
 - EG Rebuttal Testimony on GIR Settlement.wpd


Current Notes User:

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       If so, when?        From (MM/DD/YY):      To (MM/DD/YY):


The letter looks fine.  I want to make sure that we don't record anything
stating the ROW price.  If we need to put it in Exhibit B or something else
which is not recorded, let's do so.  Thanks.

joseph russo <hitekdude55@netscape.net> on 10/13/99 01:28:13 PM
To: Gerald Nemec/HOU/ECT@ECT
cc:
Subject: Re: [Re:]

Gerald:

Paragraph 9 would be deleted for the Lonnie Claytor and Jennifer McIntosh
easements, only.  I changed the letter to reflect that.  Please also note that
I added a fifth item.

Thanks:

Joe

"Gerald Nemec" <Gerald_Nemec@enron.com> wrote:

Joe,  I would like to clarify which modifications are being made wrt each of
the
three landowners in the regarding heading.  I am not clear which easment we
are
deleting paragraph 9 on.

joseph russo <hitekdude55@netscape.net> on 10/12/99 04:19:18 PM

To:   Gerald Nemec/HOU/ECT@ECT
cc:
Subject:

Hi Gerald:

The attachment contains my interpretation of our discussions.  Please let me
know if you agree.

Thanks:

Joe

____________________________________________________________________
Get your own FREE, personal Netscape WebMail account today at
http://webmail.netscape.com.

> ---------------------------------------------
> Attachment:?Letter to Jim Taylor-Enron Attorneys-10-12-99.doc
> MIME Type:?application/msword
> ---------------------------------------------

____________________________________________________________________
Get your own FREE, personal Netscape WebMail account today at
http://webmail.netscape.com.
 - Letter to Jim Taylor-Enron Attorneys-10-12-99.doc


Tetco held a 637 "settlement" conference last Fiday to discuss their latest
proposal dated March 8th.  Their new proposal involved the institution of a
weekly cash-out mechanism along with a daily variance penalty based on
overall system position.

In brief:
PENALTIES
Stage One--on any day where a shipper's imbalance in greater than 7% in any
zone, the "daily imbalance charge" would be 2x the maximum PAL rate for the
entire balance (not just the piece that's over 7%) in each zone.
Stage Two--on any day where either the Market Area or Access Area is out of
balance by greater than 4%, Tetco would have the discretion to issue a Stage
Two notice, establishing a tolerance level (which could be 0, subject to
Tetco's sole discretion) that all shippers would have not less than 12 hours'
notice with which to comply.  Under Tetco's propsal, any volumes in excess of
the level stated in the notice would be assessed a "daily imbalnce charge"
equal to 4x the maximum PAL rate.
In a Stage 2 situation, if your imbalance is in the opposite direction of the
pipe, no penalty would be charged (but you'd still cash-out)

CASH-OUT
Weekly monetization of cash-out positions based on a Sunday to Saturday week
(Tetco needs to revise this so that the weeks are managed depending on how
the calendar falls so that they minimize problems like a 2-day week).
Monetization by Zone in 2 tiers
 0-4% to be cashed-out at the average of each day's mid point price for the
weekly period
 4%+ ENTIRE IMBALANCE cashed-out at the weekly highest/lowest common price
for the week
This is a significant change since under the current tariff, shippers pay a
staggered fee, such that volumes with in the first tier are charged that
tier's price, then overflow into the next tier is charged at that tier's
price, etc.  Now, the entire amount would be assessed the higher price.

NETTING & TRADING
would be limited to the week in which the imbalance was incurred and would be
limited by zone (contrary to Order 637)
Any netting or trading would not decrease the daily imbalance charge (the
positions would be frozen each day) but could decrease the cash-out exposure
(completely contrary to 637 which indicates that netting & trading should be
a tool used to limit penalties)

Results:
it would be possible, in fact likely, that a shipper would pay both an
imbalance penalty and a cash-out fee on the same volume (contrary to Order
637)
under the Zero tolerance Stage Two scenario, Tetco would have complete
discretion to set the level (not itself a bad thing, they need to be able to
control their system)--they've indicated that they'd set a 2% floor for
penalties but that doesn't really solve the problem.
not only would the cash-out mechanism be more difficult to administer, it
could significantly increase our cash-out liability and subject us to
penalties that do not exist today.

Dynegy, PGC and Indicated Shippers indicated to Tetco that we don't see any
progress towards settlement, or even a foundation to go forward on and that
we're ready at this point to go to the Commission for a decision on their 637
filing as a whole.  Several of the LDC's stated that they want to continue to
pursue settlement so we agreed to submit a status report to Staff indicating
that we'll continue to talk, setting an April 30th deadline.  At that point,
I expected that Tetco would attempt to establish an aggressive negotiation
schedule in an effort to make some progress--instead all they did was agree
to my request to provide a comparison of the different offers and scheduled a
follow up meeting for April 10th.

Tetco indicated that they don't plan to make another offer and would not
agree to entertain counter-offers.  At this point, I doubt that we'll make
any significant progress and believe that this issue will end up being
litigated, or at least submitted to  the FERC for a decision.  Based strictly
on the letter of the Order (or at least our interpretation of it), I think we
have

Please let me know if you have any questions / concerns / comments.

Thanks,
Suzanne
x54880


I have a meeting tomorrow.  Can you tell me what total power demand in in the
East and the West and what Enron's volumes are.


FYI.

---------------------- Forwarded by Kay Mann/Corp/Enron on 10/19/2000 03:00
PM ---------------------------
From: Suzanne Adams@ECT on 10/19/2000 02:58 PM
To: Karen E Jones/HOU/ECT@ECT, Bob Carter/HOU/ECT@ECT, Barton
Clark/HOU/ECT@ECT, Alan Larsen/PDX/ECT@ECT, Dale Rasmussen/HOU/ECT@ECT, Ed B
Hearn III/HOU/ECT@ECT, matt.maxwell@enron.com, kay.mann@enron.com, Stuart
Zisman/HOU/ECT@ECT, Peggy Banczak/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT
cc:

Subject: Weekly Power Meetings With Sheila Tweed

As I emailed previously, Sheila's power meetings will be held weekly starting
October 25, 2000 at 10:00 a.m. in EB38C2.  For those of you that cannot
attend the meeting in the building, I have set up a dial-in number:

Dial In: 1-888-476-3757
Host: 543030 (Sheila Tweed)
Participant:  609623

If for some reason, this meeting needs to be cancelled, I need to let AT&T
know 30 minutes prior to the scheduled time so we won't be charged.  Thanks!
Suzanne


Hello all,

I just wanted to let all of you know that my last day at Enron is October 31,
2000.  I have decided to take a position with Deloitte and Touche.  It's an
excellent opportunity and I'm looking forward to getting started.  I hope all
of you will keep in touch.  My home number is 713-799-2774 and my home e-mail
address is ashaunte@aol.com.  Feel free to call any time.

I'll be in touch once I get settled in at Deloitte and Touche.

Have a great weekend!

Alysia


----- Forwarded by Tana Jones/HOU/ECT on 04/12/2001 05:27 PM -----

	Walter Guidroz/ENRON@enronXgate
	04/12/2001 05:21 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tom
Moran/ENRON@enronXgate, Claudia Clark/HOU/ECT@ECT, William S
Bradford/ENRON@enronXgate, Lisa Lees/HOU/ECT@ECT, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ECT, Bernice Rodriguez/HOU/ECT@ECT, Bill D
Hare/HOU/ECT@ect, Amy Heffernan/Enron Communications@Enron Communications,
Molly LaFuze/Enron Communications@Enron Communications, Danny Clark/Enron
Communications@Enron Communications, Stephanie Panus/NA/Enron@Enron,
Mandola@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=BCBC586C-1D5A658C-862568C
D-532EF3@EX@enronXgate,
Kyle@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=97746094-1B0A69C0-86256945-5
803A9@EX@enronXgate
		 cc:
		 Subject: EOL approvals, 04-12-01

Please see attached.


---------------------- Forwarded by Sara Shackleton/HOU/ECT on 03/28/2000
04:42 PM ---------------------------

Susan Flynn
03/28/2000 10:15 AM
To: Pearsrj@texaco.com, curryrl@texaco.com, ingharl@texaco.com, Robert
Shiring/HOU/ECT@ECT
cc: Brant Reves/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT, Harold
Bertram/HOU/ECT@ECT (bcc: Sara Shackleton/HOU/ECT)
Subject: Bridgeline Gas Marketing LLC

 We have prepared for your review drafts of the following attached corporate
documents:

1. Unanimous Consent of Members of Bridgeline authorizing financial trading
agreements

2. Unanimous Consent of Members of Bridgeline authorizing the execution of
confirmation letters

3. Incumbency Certificate of Bridgeline with signature specimens of those
individuals authorized to execute confirmation letters

Please be advised that we do not have copies of the organizational corporate
documents for the various Bridgeline entities and therefore someone with
knowledge of the Bridgeline,s corporate structure should review:  (i) the
signature blocks on each of the corporate documents for accuracy and (ii) the
resolutions to confirm the authority given to various officers and/or agents
and-attorneys-in-fact.

 Should you have any questions or comments, please call either Sara
Shackleton at (713) 853-5620 or me at (713) 853-0975.


i want to stop by longview and meet the woman who won the truck


Notice No. 00-365
October 26, 2000

TO:
ALL NYMEX/COMEX DIVISION MEMBERS/MEMBER FIRMS
ALL NYMEX/COMEX DIVISION CLEARING MEMBERS
ALL NYMEX/COMEX DIVISION FLOOR TRADERS
ALL NYMEX/COMEX DIVISION OPERATIONS MANAGERS

FROM: Neal L. Wolkoff, Executive Vice President

SUBJECT: Amendment to the FTSE Eurotop 300c Index due to the acquisition of
Content Technologies Holdings Limited by Baltimore Technologies PLC, and the
FTSE Eurotop 300c and FTSE Eurotop 100c Indexes due to the acquisition of
Woolwich PLC by Barclays PLC

FTSE International is amending the FTSE Eurotop 300c Index due to the
acquisition of Content Technologies Holdings Limited by Baltimore
Technologies PLC, and the FTSE Eurotop 300c and FTSE Eurotop 100c Indexes due
to the acquisition of Woolwich PLC by Barclays PLC. FTSE,s technical releases
at http://newsite.ftse.com/newsinfo/news/A2210_ei.html and
http://newsite.ftse.com/newsinfo/news/A2213_ei.html describe these amendments.

Should you have any questions regarding the above, please contact Jay
Gottlieb at (212) 299-2607.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=tana.jones@enron.com&refdo
c=(00-365)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


Gerald-

FYI

-Audrey
---------------------- Forwarded by Audrey O'Neil/HOU/ECT on 03/06/2001 03:34
PM ---------------------------

"Ken" <kckrisa@apex2000.net> on 03/05/2001 04:41:46 PM
Please respond to <kckrisa@apex2000.net>
To: "Audrey O'Neil \(E-mail\)" <Audrey.ONeil@enron.com>
cc:
Subject: BWGP - BCCK and Gas Processing Agreement

Audrey,

I think it may be appropriate to schedule a meeting with BCCK again.  Review
of schedule, compression bids, equipment purchase orders.  I thought we
would have lots of stuff on order by now.

Also, I can't remember if I discussed with you - I would like to develop
with your and Gerald's assistance a third party gas processing agreement for
the BWGP.  May need within the next 2-3 weeks to signup Lone Mountain.

Let's discuss.

Ken


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As per our conference call today

Please review the draft communication to EM, which is part of the attachment

LM


This is the current incarnation of project offline.  They are trying to find customers who would like us to set up and operate a version of EOL for them.  I think Anne has been the point person for them.  It is not related to the back office deal.

 -----Original Message-----
From: 	Greenberg, Mark
Sent:	Tuesday, August 14, 2001 8:25 AM
To:	Taylor, Mark E (Legal)
Subject:	EOL Question

Mark -

Do you know anything about a "EnronOnline Private eMarketplace solution" that is being marketed?  Is this the same as the back office/off-line deals?

Mike Bridges sent me a document to review concering this matter and needs me to respond.

Thanks.

Mark


Hello GOD-

Do you really call yourself God?  That is pitiful-not surprising though.
Okay, I have taken care of Mike at AES.  They should be able to transact on
US East Pwr Fin by tomorrow afternoon.  Credit will open them up tonight.  I
left my number with him, but let me know if he calls you with any other
problems.

My Easter was great-I had way too much to eat.  I am feeling a little large
today.  I can't believe you had to work on Easter...I probably ate enough for
both of us.  Who needs Megawatt.  Everyone knows that God does everything
first.  Don't blame it on us Power Girls, we rock the house...

adriane

 -----Original Message-----
From:  Joe Stepenovitch/Corp/Enron@ECT
[mailto:IMCEANOTES-Joe+20Stepenovitch_Corp_Enron+40ECT@ENRON.com]
Sent: Monday, April 16, 2001 8:59 AM
To: Adriane Schultea/NA/Enron@ECT
Subject: Re: Balance of the Day

Good Morning,

Did you have a nice Easter??  I had to work.....(so you can guess how mine
was!)  Could you or Theresa call (AES New Energy) this morning, they are
having trouble with EOL and the Master user.  Your contact will be (Mike @
617-960-7294)  thanks and let me know what happens...Your the Best!!  By the
way I'm upset with you two!!!!!!!!!!!!!!!!  Did you see Megawatt Daily
today???  Why didn't we do that??  Now it looks like we were second!..Not
Good for GOD!  Anyway are you on AIM?  My IM is (stepo90) keep me in the
loop....

Have a good day,

-me

Adriane Schultea@ECT
03/28/2001 10:16 AM
To: Joe Stepenovitch/Corp/Enron@Enron
cc:

Subject: Balance of the Day

In case you don't recognize my name- I am Adriane Moratto, but just changed
my name after the wedding.  Just wanted to catch up with you and see how
things were going with the new product.  Seems to be a success.  Let me know
if you have any other guys you want me to call or if there is anything else I
can do to get you some more players.

adriane


Thanks Tim


Stacy,  Bill Moore from Texaco called and the well at meter 9826 which came
on at the beginning of the month at 2,000 a day  has dropped of to 1,200 a
day.   Bill would like to change the nom to 900 so we balance for the month.
Let me know what you think and I'll get back with him.


Gentlemen,

Attached for your review is a draft of the letter of intent.

Please let me know if you have any difficulty opening this document.

Kay


Please find the attached files.

Thanks,  Tim


Dear Friends and Family

Come Join the Fun!

Don Baughman Jr. Will be 31!

Sunday November 18, 2001 3:00 P.M.

Baughman Home- Iowa Colony

Bar -B-Q by Travis

Given by: Mom, Dad,Travis,Andrea, Troy, and Shelby

RSVP: 281-431-2987

See Ya'll Soon!


I need to be in Jim Derrick's office by 10:30. Lets not cancel the mmeeting,
but we need to start promptly at 10:00.

	Beth A Ryan
	06/12/2000 01:39 PM

		 To: Richard B Sanders/HOU/ECT@ECT, dpoe@ecogas.com
		 cc: Twanda Sweet/HOU/ECT@ECT
		 Subject: 6/15 Therm Tech Meeting

Thursday, June 15 Therm Tech meeting will be in Randy's office, EB3389 at
10:00am for one hour.  Or you may dial in: 1.888.422.7132     code: 390955

Thank you.


The purchase from Swift was shown at mtr 3405 during Dec and Jan.  I have
created a new deal (#204777) to add mtr 9643 to the deal.

Deal 114096 is the purchase from HPLR Liquids.  This purchase is on 138544
for Jan 2000 forward.

D

	From:  Stella L Morris                           02/24/2000 02:39 PM

To: Daren J Farmer/HOU/ECT@ECT
cc: Fred Boas/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT, Robert E
Lloyd/HOU/ECT@ECT
Subject: 1/2000 Meter 9643 Three Rivers Issues

Fred is trying to set up accounting arrangments to cover the Swift deal.  Can
you please verify that you made this purchase from Swift?  If so, is there
another deal to replace deal #114096 of should this deal be extended into
January.    If I should forward this to someone else, please let me know.

Thanks for you help, Stella

---------------------- Forwarded by Stella L Morris/HOU/ECT on 02/24/2000
02:33 PM ---------------------------

Fred Boas
02/24/2000 11:25 AM
To: Stella L Morris/HOU/ECT@ECT
cc: Robert E Lloyd/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT
Subject: 1/2000 Meter 9643 Three Rivers Issues

Stella:

The Swift deal is not pathed correctly in POPS.  I set up an accounting
arrangement on the 012-41500-02-015 contract with the Track ID 80705.  Would
you put the contract in POPS with the associated Track ID?

The transportation contract (012-41500-02-003) for the Liquids Replacement
gas is not POPS.  I looked in Path Manager and there is no deal for it
either.  In December, the deal for this gas was 114096.  Could you extend the
deal or get me the number for the new deal if there is one?  I need to set up
an accounting arrangement so I will need for you to verify the deal number
and transportation contract that this gas is supposed to go on.  When I set
up the accounting arrangement I will let you know what the Track ID is so you
can put the contract at meter 9643.

Let me know when all of this is done so that I can reallocate the meter.

Thanks,

Fred


Kelli

Have we contacted GRE?

---------------------- Forwarded by Hunter S Shively/HOU/ECT on 01/02/2001
04:36 PM ---------------------------

Janet Bowers@ENRON
01/02/2001 04:05 PM
To: Chris Meyer/HOU/ECT@ECT
cc: Kelli Stevens/HOU/ECT@ECT, Oscar Dalton/HOU/ECT@ECT, Hunter S
Shively/HOU/ECT@ECT
Subject: Re: GRE

Chris & Kelli,  I just wanted to clarify that GRE's actual testing is
scheduled to begin in March, and this Sunday is a one-day deal for them to
blow down their turbines.  The powerpak deal that we have with them is for
the testing period of March and April.  I have talked with our Storage team
regarding putting the gas in on Friday and Saturday of this week and pulling
out on Sunday but they are really tight and aren't sure they can handle it.
Is there any way that we can buy the 4500 MMBtu for Sunday only? And, if so,
what is the cost differential?  Thanks!

Janet
x-7141

	Enron North America Corp.

	From:  Chris Meyer @ ECT                           01/02/2001 03:27 PM

To: Kelli Stevens/HOU/ECT@ECT
cc: Oscar Dalton/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Janet
Bowers/ET&S/Enron@ENRON

Subject: Re: GRE

Kelli - the GRE deal is set to begin in May (per the long-term agreement).
The interconnect is complete and testing will begin this coming Sunday.  GRE
is responsible for noms during testing.  (As you may recall, ENA will be
responsible for noms to storage once the deal begins.)  GRE wishes to buy
4,500 MMBtu for this coming weekend. This purchase is not covered under the
long-term gas deal; therefore, I presume you'll show GRE an offer at  Demarc
or Ventura

Your contact (during testing) will be Janet Bowers (Omaha x7141).

Please give Janet a call to arrange this weekends gas supply.  We may be able
to sell/deliver the 4,500  on Thursday or Friday.

Janet -  Kelli can be reached at (713) 853-1828.

Call with any questions

Thanks

chris
x31666


------------------------------------------------------------------------------------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

June 8, 2001 5:00pm through June 11, 2001 12:00am
------------------------------------------------------------------------------------------------------

ECS to ECN Network Interconnection, June 9th 2001         POSTPONED
This is a notification that the Enron Corp. I/T Networks team will be connecting the new building network infrastructure located in Enron Center South (ECS) to the existing Enron Center North (ECN) backbone network.  While this activity is not expected to produce a disruption to network services, this notice is designed to alert the organization to our activities.  No network hardware or systems are anticipated to be shutdown.  The actual physical interconnection of the networks will be performed in the EB 34th floor Data Center.

Interconnection activities are scheduled to occur the evening of June 9th 2001 starting from 7:00 p.m.(CT) and completing around 11:00 p.m. (CT). Application testing activities will begin at 11:00 p.m. (CT) once all network testing has completed.

If you have any further questions, please contact Pete Castrejana at 713-410-0642 for more information.

SCHEDULED SYSTEM OUTAGES:

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages

ENRON NORTH AMERICAN LANS:
Impact:  ENS
Time:  Fri 6/8/2001 at  10:30:00 PM CT thru Fri 6/8/2001 at  11:30:00 PM CT
	Fri 6/8/2001 at    8:30:00 PM PT thru Fri 6/8/2001 at    9:30:00 PM PT
	Sat 6/9/2001 at  4:30:00 AM London thru Sat 6/9/2001 at  5:30:00 AM London
Outage:  Upgrade code on Ardmore routers
Environments Impacted:  Ardmore
Purpose: There is a bug with the version of code that we are using that causes the switches to crash.
Backout:
Contact(s): 	Scott Shishido    713-853-9780

Impact:  CORP
Time:  Fri 6/8/2001 at  5:30:00 PM CT thru Fri 6/8/2001 at  8:30:00 PM CT
	Fri 6/8/2001 at  3:30:00 PM PT thru Fri 6/8/2001 at  6:30:00 PM PT
	Fri 6/8/2001 at  11:30:00 PM London thru Sat 6/9/2001 at  2:30:00 AM London
Outage:  Split VLAN 468 into a /27 network
Environments Impacted:  Corp
Purpose: Separate the load and traffic between AEXT, AEIN, & AX environments
Backout:
Contact(s): 	Morgan Gothard  713-345-7387

Impact:  CORP
Time:  Fri 6/8/2001 at  5:30:00 PM CT thru Fri 6/8/2001 at  6:30:00 PM CT
	Fri 6/8/2001 at  3:30:00 PM PT thru Fri 6/8/2001 at  4:30:00 PM PT
	Fri 6/8/2001 at  11:30:00 PM London thru Sat 6/9/2001 at  12:30:00 AM London
Outage:  AEINFW swap
Environments Impacted:  Corp
Purpose: Eminent growth and related stability issues.
Backout: Reinstall original units
Contact(s): 	Morgan Gothard  713-345-7387
FIELD SERVICES:  No Scheduled Outages.

INTERNET: No Scheduled Outages.

MESSAGING:
Impact:  Exchange
Time:  Sat 6/9/2001 at  12:00:00 PM CT thru Sat 6/9/2001 at    2:00:00 PM CT
	Sat 6/9/2001 at  10:00:00 AM PT thru Sat 6/9/2001 at  12:00:00 PM PT
	Sat 6/9/2001 at  6:00:00 PM London thru Sat 6/9/2001 at  8:00:00 PM London
Outage:  Apply latest hotfixes to Nahou-msmbx03v & Nahou-msmbx05v
Environments Impacted:  Exchange Users on Nahou-msmbx03v & 05v
Purpose: Ensure backups and data integrity
Backout: Uninstall Hotfixes
Contact(s): 	Scott Albright  713-345-9381
		Tim Hudson  713-853-9289

MARKET DATA:
Impact:  CORP
Time:  Fri 6/8/2001 at  5:00:00 PM CT thru Fri 6/8/2001 at  7:00:00 PM CT
	Fri 6/8/2001 at  3:00:00 PM PT  thru Fri 6/8/2001 at  5:00:00 PM PT
	Fri 6/8/2001 at  11:00:00 PM London thru Sat 6/9/2001 at  1:00:00 AM London
Outage:  Market Data TV systems upgrades
Environments Impacted:  Trading Floors
Purpose: Increase system reliability and systems management, also allow presentation of new infrastructure content to the trading floor plasma screens
Backout: re-install original systems
Contact(s): 	John Sieckman    713-345-7862

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS:    ALSO SEE ORIGINAL REPORT
Impact:  CORP
Time:  Fri 6/8/2001 at  7:30:00 PM CT thru Fri 6/8/2001 at  9:30:00 PM CT
	Fri 6/8/2001 at  5:30:00 PM PT thru Fri 6/8/2001 at  7:30:00 PM PT
	Sat 6/9/2001 at  1:30:00 AM London thru Sat 6/9/2001 at  3:30:00 AM London
Outage:  NAMEX-LN1 and NAMTY-LN1- Needs Rebooting
Environments Impacted:  Local Office
Purpose: Need to reload NETIQ Agents for NAMTY-LN1 and NAMEX-LN1
Backout:
Contact(s): 	Wilma Bleshman    713-853-1562

Impact:
Time:  Sat 6/9/2001 at  10:00:00 PM CT thru Sun 6/10/2001 at  1:30:00 AM CT
	Sat 6/9/2001 at    8:00:00 PM PT thru Sat 6/9/2001 at  11:30:00 PM PT
	Sun 6/10/2001 at  4:00:00 AM London thru Sun 6/10/2001 at 7:30:00 AM London
Outage:  Upgrade for E10K SSP tremor requires downtime on server moe.
Environments Impacted:  Global
Purpose: An SSP is the controlling server for an E10K platform.  Moe is a domain on the E10K platform named aftershock.  In order to complete the upgrade of moe, we must first upgrade the SSP.  The first phase will entail upgrading the SSP to Solaris 8 and the SSP software.
Backout: The SSP is really a new server that needs to be configured.  The old SSP will be there if we need to back out.
Contact(s): 	Malcolm Wells    713-345-3716

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY:      SEE ORIGINAL REPORT

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:       SEE ORIGINAL REPORT

-------------------------------------------------------------------------------------------------------------------------------------
								FOR ASSISTANCE

(713) 853-1411   Enron Resolution Center

Specific Help:
Information Risk Management			(713) 853-5536
SAP/ISC                                                                               (713) 345-4727
Unify On-Call 					(713) 284-3757  [Pager]
Sitara On-Call					(713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS			(713) 639-9726  [Pager]
OSS/UA4/TARP				(713) 285-3165  [Pager]
CPR						(713) 284-4175  [Pager]
EDI Support 					(713) 327-3893  [Pager]
EES Help Desk					(713)853-9797 OR (888)853-9797
TDS -Trader Decision Support On-Call                    (713) 327-6032 [Pager]


I am working with Gary Kenagy to determine who has possession of the Gregg Engineering keys.  I was informed that you may have a Gregg key. Please verify if this is true and the key number.

Thank you,
Kimberly Carter
X57329


BIKE TO WORK MONTH STARTS TUESDAY!

ALL WHO ARE PARTICIPATING
JOIN US FOR THE KICK - OFF LUNCH
TUESDAY SEPT 4TH IN MT HOOD  11:30 - 12:30


Guys, I will forward the info as it becomes available.  There appears to be
one project in Texas and one in California which are well down the
development road.  If interested in these projects, which have to meet a
December 2001 COD in order to get the tax credit, I would suggest that we
purchase the development sites and turbines from Enron Wind and keep the
asset, commodity position, tax credit and possible green credits in ENA.
They are Ok with that strategy.  This is an opportuntity that needs to
fleshed out fairly quickly - Ben and Dave can you lead this analysis with
close contact with Doug and Tim on the desk.  We can get together to discuss
if you like.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 06/19/2000
08:48 AM ---------------------------

Michael Payne@ENRON_DEVELOPMENT
06/16/2000 07:40 PM
To: David W Delainey@ECT
cc: James L Noles/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Adam Umanoff@ENRON,
Bob Gates
Subject: Wind Info/Cost to Build

Dave,

As requested, I have collect the following information for your review.  I
have sent two binders to your office for Monday morning delivery.  I am also
attaching the two models which correspond to the projects referenced below.

Table of Contents
1. Selected Company Information
 Including:
Business overview
Estimate wind resources by state
Discussion of industry drivers
Overview of the technology
Discussion of Project Development
2. Cost to build: Solano/SMUD California project
3. Cost to build: Sweetwater, TX project
4. Description of the Federal Production Tax Credit
5. Press Release on Northern Alternative Energy Gas-Wind Hybrid project
6. Summary of Renewable Portfolio Standards (state fuel mix mandates)
7. Summary of System Benefit Charges to be applied to renewable subsidies
8. Assorted Slides on Green Power Marketing, RPS, SBCs, etc.

Please don't hesitate to call with any questions.

Michael
6-9690


He would be a good addition somewhere - thoughts?

Louise Kitchen
Chief Operating Officer
Enron Americas
Tel:  713 853 3488
Fax: 713 646 2308


I'm going over to ACTC partnership to install the PETE application. Only a
weeks work, but I'll make enough cash to maybe buy some of this networking
hardware. I'm going to check it out now.

GB

----- Original Message -----
From: <Cooper.Richey@enron.com>
To: <gberry@solutionsco.com>
Sent: Tuesday, February 05, 2002 8:55 AM
Subject: RE: Your new address

> great.  thanks greg - i told you about the wireless ethernet stuff i
bought
> right?  i'm excited to set it up.
>
> i don't know if you've seen the site, but www.practicallynetworked.com has
> some good stuff in it.
>
> coffee or lunch this week works great for me - where are you working
> downtown?
>
>      - c -
>
>     -----Original Message-----
>    From:   "Greg Berry" <gberry@solutionsco.com>@ENRON
>    Sent:   Tuesday, February 05, 2002 6:58 AM
>    To:     Richey, Cooper
>    Subject:  Re: Your new address
>
>    You should be getting a call from Shaw Cable, today or tomorrow to
>    arrange a
>    time with you to install the cable modem.
>     FYI, I bought a used computer at Computer Outlet, and two months free
>    internet and installation came with the package.
>
>    Let me know if  you don't hear from shaw in the next day or so. Looks
>    like
>    I'm going to be working downtown starting sometime this week, we should
>    try
>    to get out for a coffee or bit to eat again.
>
>    Cheers, Greg
>
>
>
>
>
> **********************************************************************
> This e-mail is the property of Enron Corp. and/or its relevant affiliate
and may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at enron.messaging.administration@enron.com and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
> **********************************************************************
>
>


Last week you were sent an EWS Human Resources survey.  Your input is very valuable to us.  Please take a moment to complete this survey by Friday, June 15th.

Please direct any replies to "EWS Human Resources"

Please click on the link below.

Experiencing technical problems?  If this link does not automatically launch the questionnaire:

1. Launch by copying the link into your browser, or
2. If you continue to have technical difficulties, please send an email message to confirmit@enron.com
3. Please do not forward this link to anyone else, as it is unique for each respondent.

Thank you

http://etcsurvey.corp.enron.com/wi/p0630528/i.asp?r=674&s=UTFBLPHD&l=9


FYI--

CES changes  effectie 3/15/01:

Lonestar
From 5,978 to 4,500 total receipt
delivered to HPL/Katy 4,477 after fuel

Midcon (KinderMorgan)
From 7,332 to 6,584 total receipt
change to Greta/Toc  #5553


---------------------- Forwarded by Julian Poole/ENRON_DEVELOPMENT on
26/08/99 07:45 PM ---------------------------

(Embedded     Enron International
image moved
to file:      From:  Federico Cerisoli
pic30337.pcx) 24/08/99 12:21 AM

To:   Julian Poole/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject:  Re: ISDA

Please encarg?te de esto.  Thks, Fede

---------------------- Forwarded by Federico Cerisoli/ENRON_DEVELOPMENT on
08/23/99 05:17 PM ---------------------------

"Erik Ludtke" <elludtke@duke-energy.com> on 08/23/99 02:40:37 PM

To:   Federico Cerisoli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:   "Alejandro Felices" <axfelices@duke-energy.com>, "Amy J Statler"
<ajstatler@duke-energy.com>

Subject:  Re: ISDA

The ISDA agreement has been executed by DEI and will be returned to Enron.
In
the meantime, can you please have your confirmation desk confirm the deal
with
Roni Cappadonna and send the confirm letter to her attention, as soon as
possible.

Thanks.

fceriso@ei.enron.com on 08/19/99 12:43:44 PM

To:   Erik Ludtke/International/GlobalAsset@DukePower
cc:   Roni A Cappadonna/International/GlobalAsset@DukePower, Alejandro
Felices/International/GlobalAsset@DukePower, dblack@ei.enron.com, "Sara
Shackleton" <Sara_Shackleton@ei.enron.com>, bhendry@ei.enron.com,
jpoole2@ei.enron.com
Subject:  Re: ISDA

Good!  I hope this is the first of a number of transactions we enter into
together.   Please have your people sending the ISDA back to our lawyers in
Houston with Duke's signature so we then complete the loop.

Julian, would you please co-ordinate asap with our Houston staff to have them
sending the confirmation to Roni at the fax number below?  Thanks.

"Erik Ludtke" <elludtke@duke-energy.com> on 08/19/99 10:07:36 AM

To:   Federico Cerisoli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:   "Carol F. Graebner" <cfgraebner@duke-energy.com>, "Amy J Statler"
<ajstatler@duke-energy.com>, "Roni A Cappadonna"
<vacappadonna@duke-energy.com>, "Alejandro Felices"
<axfelices@duke-energy.com>, "Maria Zocchi" <mzocchi@duke-energy.com>

Subject:  ISDA

We are in receipt of the ISDA agreement, partially executed by ECT.

We would like for ECT to send the confirmation letter to Roni Cappadonna in
Houston, at 713-627-4778.  The fax number is 713-627-6524.

 - pic30337.pcx


---------------------- Forwarded by Joseph Alamo/NA/Enron on 04/11/2001 05:29
PM ---------------------------

	Joseph Alamo
	04/11/2001 05:28 PM

To: Miyung Buster/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:

Subject: "Enron Told to Supply UC, Cal State"
Wednesday, April 11, 2001 ,2001 San Francisco Chronicle

Enron Told to Supply UC, Cal State
Wednesday, April 11, 2001 ,2001 San Francisco Chronicle
A federal judge ordered the energy giant Enron today to restore direct
electric service to the University of California and the California State
University system, under agreements that Enron wanted to abandon so it could
sell the power for more money elsewhere.
Houston-based Enron Energy Systems signed four-year contracts with the two
university systems in 1998, agreeing to supply power for 5 percent less than
the price cap set by the state's 1996 deregulation law.
The contracts were due to run through next March, but Enron dropped direct
service to the universities on Feb. 1 and left them to rely on power supplies
from Pacific Gas & Electric and Southern California Edison Co., while Enron
brokered electricity sales at much higher prices on the spot market.
Enron promised to keep its promise of low rates for the rest of the contract,
but the universities said the change to utility service would hurt their
conservation efforts and expose them to the risk of blackouts.
Joined by Attorney General Bill Lockyer, who said the public interest was at
stake, university lawyers argued successfully today for an injunction
restoring direct access.
The language of the contracts indicates that "Enron did not have the right to
return the university systems to the utilities," said U.S. District Judge
Phyllis Hamilton.
She cited the "precarious position of PG&E," which filed for bankruptcy last
Friday, and said the universities had bought some protection from the risks
of utility service when they signed the contracts.
Enron attorney A. William Urquhart said the company would seek an emergency
stay from the U.S. Court of Appeals in San Francisco.
Enron has a responsibility to its shareholders to act in the company's
economic interest, Urquhart told Hamilton.
He said the universities have not paid any more for power since Feb. 1 than
they did before and have suffered no power blackouts. Any future financial
losses could be compensated in damages, avoiding the need for an injunction,
Urquhart said.
But attorney Douglas R. Young, representing the universities, said the
direct-service contract contained unique benefits. For example, he said,
meters installed by Enron that were removed Feb. 1 provided information that
enabled the schools to monitor and reduce electricity use building by
building,
to qualify for a new statewide demand-reduction program.


Stan/Jim,

Following, please find Eco's latest update.

Lenders:  a call took place this a.m. with the entire syndicate of lenders (27 in total I believe).  Lenders will proceed to either remove conditions to their credit approvals and/or move forward with presentations to the credit committee - completion time is 1 to 2 weeks; lenders reiterated their ok with a Dec 14 satisfaction of all Cp's to the closing on the SPA with Mirant.  Lender's Agent (ABN Amro) committed to getting the lenders a copy of the "as it stands" lender consent agreement and also committed everyone to issuing a finalized lender consent document by this Friday.  This puts pressure on Mirant to deliver on final comments, following a series of lender counsel correspondence on the agreement (sent last week).

GE: a call took place this p.m. with GE to review status.  We made it clear to Mirant that progress on this front was slow and that we were concerned with their slow document turn around time.  Mirant committed to deliver comments on: the Guarantee, the Members Agreement, the Tax Agreement and also committed to delivering their version of the Share Purchase Agreement with GE, all by Thursday noon time.  The other document pending: the revised bylaws of the new entity where GE's preferred shares will be held, will be prepared by Cayman counsel; work had been held up on Mirant's non-agreement to cover legal fees; that too was resolved today and counsel should have been commissioned.

Other:  Mirant has agreed to have a detailed conference call tomorrow at 5pm to review the "Closing Checklist".  This is very important in that up until now they have been reluctant to discuss any type of work plan and this, at least, gets us all comfortable that they understand the work ahead of us.  Additionally, we sent to Mirant (tonight) a revised side letter providing for the target date of Dec 14th for completion of all CP's, for a (no earlier than) Dec 19th (this is their request) and the elimination of the three business day float between closing of CP's and funding.  In this letter Mirant would commit to dedication of all resources, to diligently pursuing closing of CP's by 12/14 and to a work plan/checklist.

Insurance: (NOT A CP TO CLOSING) final report from third party adjuster has been sent to underwriter's office, care of in-house adjuster.  Unfortunately, the in-house adjuster is out on jury duty for two weeks.  I have a call into Jim B. to see what can be done to expedite the review and approval process.  Worst case here is that, if we insist on handling the claims post closing and Mirant agrees, we will have to guarantee a recovery amount to Mirant.  With the third party adjuster/CPA having signed off on the $26.1 million recovery amount, risk should be greatly mitigated.

Will report on tomorrow's progress at end of business day.

Thanks, Mariella


Hey there,

How is it going in Texas?  Did you go skiing this year?  Did you get the
message that I called from Hong Kong?  This has been one incredible
adventure.  The workday is long but the time flies.  It is also great to
work with people who are so dedicated and willing to try new things.  We are
now in the Persian Gulf so keep an eye on the news, if anything happens here
we either caused it or are caught in the middle of it.

What does your apartment look like?  I am getting your wedding present from
the Mid East and no, it is not your own pet camel.  That is for me.  I need
to know the colors you like or better yet the colors Megan likes in a rug.
I also need the size you want.  Think of what and where you would put it
when buy a house.  These things last forever and appreciate in value (as
long as you don't have a dog!).

I talked with OB via email and we are both going to try and enter the NYC
marathon this fall.  Are you doing this?  Its Saturday morning on the ship
and it is just like any other work day.  I am going for a 75 minute run.
Talk to you later.

Chob

Christopher Choby
CINCPACFLT/CCG7
Solution Provider Initiative
PricewaterhouseCoopers
02-37-2-L   x5277


Stacey,

Settlements has brought an invoice to zero out a sale of 10,000 mmbtu to El
Paso Merchant Energy for 4/20/00 on PGEV.  There are 2 packages of  5000 deal
numbers 247426 and 247583 on the market side and deal 247676 on the supply
side.  These are HPLC brokered deal on PGEV that are buying and selling the
same 10,000 to El Paso Merchant Energy.  The purchase and sale price is the
same $3.02.  I do not know the intent of these deals so I am hesitant to just
zero out the volume.   Will you let me know if that is okay?


We added the Index calc on 12/17/2001, and it erroneously included the exchange. It was fixed on 01/03/2002.


Please see the following important stories.  It appears to be quickly
slipping through Davis' fingers.  May be useful to re-group a bit in light of
the following events.  In sum:

Most importantly, in today's Chronicle, it's reported that Davis' staff met
with key Democrats yesterday and lowered the boom.
DWR purchases likely to be about $25 billion and rates may have to go up by
100%.  (See attached story.)
Apparently, one of the big reasons that 8X got held up yesterday is because
Davis' own staff went to D leadership and said, "don't move 8X (a bill that
Davis was said to support) because the $10 billion cap on bonds won't work;
they need much more."
It appears that rate increases will now become part of the mix, whether Davis
likes it or not.
The staff alleged that they were conveying the information before Davis had
been informed of the "bombshell."
Davis was criticized for being at yet another fund-raiser yesterday while the
situation significantly deteroriated in Sacramento.  (See attached story.)
Meanwhile, PG&E has sued--or may be about to sue--the State, saying they
won't pay the QFs according to Davis' plan (which the PUC is supposed to
implement on Tuesday).  (See attached PG&E press release.)
Finally, Mike Kahn has issued an opinion piece in yesterday's Chronicle, in
which he attempts to lump together into one pile Republicans, market
proponents, price gougers and Texans, and defending Davis and Lynch.

******************************************************************************
***********************************************************************
Davis' Measured Plan To Fight the Darkness
Michael Kahn
Friday, March 23, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/23/E
D103778.DTL
COMMENTS on Gov. Gray Davis' energy programs by apologists for former Gov.
Pete Wilson bring to mind Robert Kennedy's admonition that it is better to
light a candle than curse the darkness.
Let's examine the darkness created by Wilson's energy deregulation scheme.
The 1996 law he signed could not have been more wrong headed.
-- Why did it hand energy price control over to the Federal Energy Regulatory
Commission?
-- Why did it free wholesale prices, while capping the price utilities could
charge customers?
-- Why did the former state Public Utilities Commission force utilities to
sell off their fossil fuel power plants, leaving them vulnerable to predatory
pricing by out-of-state merchant generators?
-- Why did the Wilson-era PUC bar utilities from entering into contracts to
ensure a long-term supply of cheap electricity?
-- Most pointedly, why did California enter into deregulation without enough
available generation to ensure a fair market based on balanced supply and
demand?
These are tough questions. It is not hard to understand why former proponents
of the 1996 deregulation scheme would rather not answer them, preferring to
bemoan the darkness and curse Davis' actions.
The Wilson apologists jeer at plans for the state to purchase the power grid,
though they surely know the value of a well-maintained, fully functioning
electric transmission network. Bottlenecks in the grid impede the sharing of
power between Northern and Southern California. This was a main reason
Northern California experienced rolling blackouts in January while Southern
California had plenty of power.
The state's purchase of the grid will infuse new cash into the utilities,
pulling them back from the brink of bankruptcy, while giving the state a
tangible and valuable asset in exchange.
And ownership of the grid will allow the state to modernize it, removing
bottlenecks and upgrading technology - something the utilities have long
failed at doing.
The apologists ignore the state's strong record on energy conservation and
Davis' actions to enhance these efforts.
California now has the nation's second-best energy conservation record. The
governor has budgeted $404 million in new conservation measures and added an
executive order offering 20 percent rebates to those who reduce their
consumption 20 percent over last year. These measures will reduce commercial
lighting, encourage residential and industrial efficiency and make state and
commercial buildings more energy efficient.
The apologists disregard the fact that the governor has also reversed a trend
that had seen power plant construction in California drop to insignificance
in the '80s and '90s. Since April 1999, the California Energy Commission has
licensed nine major new power plants. Six are under construction. This is
part of a streamlined, fast-track plant licensing process that aims to put an
additional 20,000 megawatts on line by the summer of 2004, a nearly 50
percent increase in generation.
And the apologists refuse to recognize that California is building the right
sort of power plants - efficient, clean and environmentally friendly, with a
strong bent toward renewable power sources.
In fact, while some would go Texas' route and build plants that meet only the
bare minimum of environmental requirements, California is continuing the
effort that has made it the nation's leader in the use of clean, renewable
power sources.
Instead, the apologists engage in name calling, such as the charge leveled by
former Wilson communications director Dan Schnur on this page that Loretta
Lynch, the Davis appointee as PUC chair, is inexperienced and has failed to
deal effectively with the energy emergency.
Forget for a moment that of the 22 people who have served as PUC
commissioners since 1980, only six had any energy expertise before their
appointments.
Forget for a moment that one of the principal architects of deregulation was
Daniel Fessler, the UC Davis contract law professor with no special expertise
in energy issues whom Gov. Wilson appointed as PUC president.
Just consider this: It was the PUC under Lynch that freed the utilities to
buy electricity on cheaper, forward contracts outside the Power Exchange.
This corrected a huge Wilson-era PUC blunder that put utilities in an energy
price straitjacket. The Lynch-led PUC also prohibited utilities from selling
additional power plants, and it began the successful effort to make
California's ISO (the Independent System Operator that runs the state's power
grid) independent of the industry-connected officials who controlled it.
Meanwhile, what sort of grand solutions have the apologists presented? Drill
for oil in the Arctic National Wildlife Refuge in Alaska, build nuclear
plants on closed military bases and encourage the construction of dirty
Texas- style power plants in California.
Drilling in the Arctic will not produce a watt of new power for California.
Californians have long said they do not want the risks presented by new
nuclear plants.
And lax Texas pollution rules prompted the Dallas Morning News to charge in a
Dec. 17 editorial that Texans are choking on the exhaust from power plants.
Most disingenuously, the apologists would "let the market work," claiming
that unfettered market forces will soon bring fair and balanced prices. But
the market doesn't work now, as the Federal Energy Regulatory Commission has
repeatedly admitted, most recently with its finding that generators
overcharged the state in January.
Unfortunately, for the most part the same commission had refused to clamp
down on sky-high prices charged by generating companies. Look at New York's
deregulated market, where there are no caps on retail electric prices. Market
forces have done consumers there little good. New Yorkers pay the highest
prices for electricity in the country. And the New York Times has reported
that rates paid by consumers have increased a whopping 40 percent just since
1999.
Those who would allow the market to work (let the darkness reign) know well
that if the market "works" to produce New York-style rate increases in
California, the consequences to the public would be dire.
Compare this to Gov. Davis' well-structured plan for effective energy
conservation and stabilization of the state's electricity market and his
expedited program to bring clean, efficient new power plants on line quickly.
Robert Kennedy would understand Gov. Davis' approach and his critics'
perspective.
Michael Kahn is a member of the state Independent System Operator's board of
governors.
,2001 San Francisco Chronicle ? Page?A - 25

Bombshell Warning on Power Cost
Spending may double and rates skyrocket, governor's office tells Legislature
Greg Lucas, Lynda Gledhill, Robert Salladay, Chronicle Sacramento Bureau
Saturday, March 24, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/24/M
N176940.DTL
Top Davis administration officials told lawmakers yesterday that the state
may have to spend twice as much as expected on electricity purchases over the
next two years - requiring rate increases of as much as 100 percent.
The stunning admission by the Davis administration contradicts his repeated
promises that his plan to ease California's energy woes could be done without
a rate increase.
California will probably need to issue $23 billion in bonds for electricity
buys, more than double the amount Davis said would be needed by the state to
keep electricity flowing until California's cash-poor utilities can get back
on their feet.
Administration officials told lawmakers to stop action on a bill that would
have capped the state's energy purchases at $10 billion.
But a Davis spokesman said the numbers were far from firm.
"There are a lot of scenarios being run . . . and until we complete the
negotiations, this can be added up any way you want," said Steve Maviglio,
press secretary to Davis.
"Those numbers are not based on any reality right now," he said. "There are
too many things up in the air."
Assembly Democrats told a different story.
They said Tim Gage, director of Davis' Department of Finance, Cabinet
Secretary Susan Kennedy and John Stevens, Davis' top energy aide, met with
Assembly Democratic leaders and dropped the bombshell.
And they did so just as those same leaders were trying to convince fellow
lawmakers how important the bill was to the Davis administration.
They also said that Davis, who was in the Palm Springs area for most of the
day and briefly attended a fund-raiser at a golf club, was unaware of the
figures.
PURCHASES IN BILLIONS
The three top aides said that electricity purchases for this year by the
state would be $16 billion, not the $10 billion initially predicted. An
additional $7 billion in state power purchases would be needed next year,
they said.
The state has been buying power at a clip of $45 million a day since Jan. 17
because the troubled utilities could no longer afford to make the purchases.
From the start of the energy crisis, the state has planned to repay its power
purchases through bond sales. The bonds would be paid off by a portion of the
amount ratepayers are charged on their monthly bills.
Davis has so far insisted that enough money could be found to cover the $10
billion without raising rates.
But his aides said if the size of the bonds ballooned to $23 billion, a hefty
rate increase would be necessary.
INCREASE UPON INCREASE
The Public Utilities Commission is already planning to make permanent a
temporary 9 percent increase. An additional automatic 10 percent is scheduled
for no later than March 2002.
But the aides said, on top of that, an additional 60 percent to 80 percent
increase would be required to cover the debt service.
"For some time, I have believed a fundamental part of solving this problem is
admitting there needs to be a rate increase, and the numbers that have been
shared today make that inevitable, and we should start dealing with the
reality as soon as possible," said Assemblyman Fred Keeley, D-Boulder Creek
(Santa Cruz County).
One consumer advocate said the revelation means the utilities are closer to
bankruptcy because the state and ratepayers won't have the cash to bail them
out.
And it could mean political trouble for Davis.
"Unless the governor issues an ultimatum to lower the prices, everybody's
bill will double, and he will not be able to run for re-election in 2002,"
said Harvey Rosenfield, head of the Foundation for Taxpayer and Consumer
Rights.
PG&E THREATENS SUIT
The news came as Pacific Gas and Electric Co. threatened to take the state to
court over Davis' plan to force the company to pay back certain creditors.
Davis' proposal would require the utilities to pay alternative power
generators for all the power that they supply, something PG&E said it cannot
afford to do. Several of the generators shut down earlier this week as
rolling blackouts spread across the state.
The bill stalled yesterday in the Assembly as Republicans objected. Lawmakers
will resume debate Monday.
Earlier in the week, Davis announced that action would be taken by the
Legislature and the Public Utilities Commission that would guarantee payment
to the alternative energy providers. He also said the state -- which has
spent $3.7 billion to purchase power -- should be paid back first.
Without that promise, several of the small biomass, solar and wind producing
plants -- called qualified facilities -- said they would have taken Southern
California Edison Co. into bankruptcy court. The alternative generators
provide enough electricity to power roughly 6 million homes.
PG&E said it cannot afford to pay the alternative producers and reimburse the
state for the billions it has spent purchasing power.
"These actions approach the problem in a piecemeal and uncoordinated fashion
and would force us to pay out far more than we collect in rates, further
exacerbating an already precarious financial situation," Gordon Smith, PG&E's
president and chief executive officer, said in a statement.
DIFFERING VIEWS ON COSTS
According to PG&E's numbers, the company collects $400 million a month in
rates. It says the average price to pay all the generation sources exceeds
$1. 4 billion a month.
But consumer advocate Nettie Hoge said the utilities are exaggerating their
own costs in order to try to keep as much money as possible.
"It's just absurd," said Hoge, the head of The Utility Reform Network. "They
have a temper tantrum every time something doesn't go their way."
The bill PG&E objected to is necessary to allow the PUC to order utilities to
pay small power generators who agree to sign lower-priced contracts to
provide energy.
The proposal offers generators a choice of agreeing to a five-year contract
at $79 per megawatt or a 10-year deal at $69 per megawatt, Davis said. The
going rate now is about $150 a megawatt. The PUC wants to act as early as
Tuesday to bring some financial relief to the generators, who have been paid
pennies on the dollar.
Assembly Republicans objected to the bill in part because it would allow the
PUC to change the formula for setting the price paid alternative producers so
that it no longer considered the price of natural gas.
Co-generators -- some of the largest of which are operated by oil refineries
-- say without the price of natural gas as a consideration, it would cost
them more to produce energy than what they would be paid for it.
E-mail Lynda Gledhill at lgledhill@sfchronicle.com.
,2001 San Francisco Chronicle ? Page?A - 1

Davis at Fund-Raiser as His Bill Languishes
Critics say he should have been at Capitol
Greg Lucas, Robert Salladay, Chronicle Sacramento Bureau
Saturday, March 24, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/24/M
N171337.DTL
While the Assembly struggled -- and failed -- to pass a bill aimed at keeping
hundreds of small energy generators from bankruptcy, Gov. Gray Davis attended
a $10,000-a-head golf fund-raiser yesterday in Palm Desert.
Organized by Duane Dauner, president of the California Healthcare
Association, the event was held at Bighorn Golf Club, a luxurious private
country club of which Dauner is a member.
Davis' top political adviser said the governor didn't play golf, just stopped
by a luncheon before the round began so he could return to Sacramento.
But during Davis' absence, a bill he backed -- critical to bailing out small
power generators -- languished in the Assembly.
On Thursday, lawmakers canceled next week's long-planned annual trip to
Washington, D.C., to focus on energy issues.
"There is not a lot of electricity to be found on the golf course," said
Harvey Rosenfield of the Foundation for Taxpayer and Consumer Rights, a chief
critic of Davis and the state's utilities. "He ought to be in Sacramento to
try and solve the crisis and not prospecting for contributions in the grass
in Palm Springs."
The Democratic governor has been frequently criticized for the time he spends
raising money for his campaign fund, money that comes from well-heeled
interests with dozens of issues pending before his administration.
Since becoming governor, Davis amassed $25 million by the end of 2000 --
averaging more than $1 million a month in contributions, often from fund-
raisers directed at specific industries.
Garry South, Davis' political adviser, said Davis was in Palm Springs to
dedicate a University of California building and "dropped by a lunch"
preceding the golf.
South said the fund-raiser "was a diverse group of people that paid varying
amounts of money."
Lawmakers canceled their yearly visit to federal officials on issues
important to the Golden State because they didn't want to give the impression
that "there was somewhere else more important than California," said state
Sen.
Don Perata, D-Oakland.
Raising money at a tony golf resort during the crisis simply looks bad,
Perata said.
"We have to be really careful because the public's patience and their
confidence in what we're asking them to do depends on how they see us
reacting to the problem," he said. "This will be negatively interpreted."
Other lawmakers said the governor's top-level staff was working on the
problem but acknowledged the golfing fund-raiser looked bad.
"It's not the best symbolic message, but I feel we have to give him the
benefit of the doubt," said Assemblywoman Carole Migden, D-San Francisco.
Davis did appear briefly yesterday on nationally broadcast CNBC to talk about
the energy crisis and blast power generators for allegedly overcharging the
state. He appeared live from Palm Springs.
The California Healthcare Association represents nearly 500 hospitals and
boasts on its Web site that it "influences public policy development through
both legislative and regulatory advocacy efforts."
Last month, the group introduced a legislative package to expand nursing
education and streamline college requirements for nurses.
One of the bills calls for spending $120 million a year on nursing classes.
The group also is lobbying the new Department of Managed Health Care, which
is staffed by Davis appointees, to speed up payment of $1 billion in late
bills owed to hospitals.
Davis signed a bill last year that gave the HMO czar the power to sanction
health care plans for failing to pay Dauner's clients, the hospitals, on
time.
In his first six months in office, Davis attended a fund-raising dinner at
Dauner's house that brought in an estimated $100,000. It was part of a spree
that netted the governor a record-breaking $6.1 million in half a year.
At the time, Dauner told the Los Angeles Times: "We don't talk policy at
those kinds of things, or legislation. This was really more of a social
event. He talked about his goals and probably spent more time discussing
education than anything else."
Dauner could not be reached for comment yesterday.
E-mail the reporters at glucas@sfchronicle.com and bsalladay@sfchronicle.com.
,2001 San Francisco Chronicle ? Page?A - 13

	FOR IMMEDIATE RELEASE March 23, 2001
CONTACT: PG&E News Department (415) 973-5930

PG&E Responds to Energy Proposals in Sacramento
	San Francisco -- Pacific Gas and Electric Company today announced that it
will be forced to challenge actions now being contemplated by the State of
California to impose new demands on its frozen rate structure. The proposed
actions will destabilize its current situation with creditors and put the
entire possibility of reaching a balanced solution to California's energy
crisis at risk.
	This week, the State has made clear its intention to use Pacific Gas and
Electric Company's existing rate structure to begin fully paying Qualifying
Facilities (QFs) in advance, for future power purchases, starting April 1,
and to reimburse the Department of Water Resources (DWR) in advance of any
other generating source, including utility-retained generation, bilateral
contracts, QFs or the Independent System Operator (ISO).
	"These actions approach the problem in a piecemeal and uncoordinated fashion
and would force us to pay out far more than we collect in rates, further
exacerbating an already precarious financial situation," said Gordon R.
Smith, president and chief executive officer of Pacific Gas and Electric
Company. "The numbers just don't work."
	Currently, under frozen rates, Pacific Gas and Electric Company has been
collecting approximately $400 million per month for the purchase of electric
power. This revenue has been used in payments to power suppliers, including
power purchases from irrigation districts and bilaterals, to cover costs of
operating our retained generation, and is insufficient to cover payments to
the ISO and QFs. The average combined energy bill from all of these sources
exceeds $1.4 billion a month, and may go even higher in the coming months.
Moreover, the utility's financial condition has been further jeopardized by
the failure of the DWR to acknowledge responsibility for the full "net open
position," i.e. the power that must be purchased on the spot market. This
dispute over the net open position is threatening to accrue additional
liabilities for Pacific Gas and Electric Company.
	"We continue to work with State officials to develop a constructive,
comprehensive solution that assures that California has a reliable and fairly
priced supply of power. Nevertheless, we have a duty to our suppliers,
lenders and shareholders to protect the assets of the utility, and we must
challenge any action by the State to force us to pay out more than is
collected in rates," Mr. Smith concluded.
	?


Today, The American Coal Company paid Enron $113.5 million in principal and interest, which included a prepayment of the remaining $110.7 million balance on its debt with Enron ($75.7 million Senior Note, $35.0 million Subordinated Note). These two notes, with maturities of July 2004 and July 2008 respectively, were established in July 1998 to provide financing for the acquisition of the Galatia Mine by Bob Murray.

Despite the termination of the credit relationship, the physical relationship remains in place through December 2006 with projected deliveries of 1,900,000 tons of Galatia coal and 1,200,000 tons of Maple Creek Coal. The value in the remaining coal, supported by puts and fixed price arrangements, is in excess of $25 million.  Beyond the value in the transaction, this deal, along with the DPR transaction with Cline in 1998, provided the foundation for Enron's coal business.

With this prepayment, Enron has now received over $250 million from its coal investments. The breakdown of the funding and cash flow is shown below:

	Approved Commitments			$275 million
	Funded Commitments			$271 million
	Enron Funding (Net of Calpers)		$240 million

	Enron Cash Flows
	Principal				$188 million
	Interest					$  44 million
	Equity Distributions			$    8 million
	Marketing Fees				$    7 million
	Margin on Physical Coal			$    3 million
		Total				$ 250 million

In addition to the cash flow received to date, the investments are projected to provide minimum future cash flows as follows:

	Principal and interest			$ 20 million		Loans secured by assets
	Marketing fees				$ 39 million		Minimum marketing fees
	Coal commodity margin			$ 25 million		Value of American Coal physical transaction
	Equity distributions			???			42% interest in Dakota & Remington
									 20% interest in BMR

		Total				$ 84 million + equity distributions


All-

  Per an inquiry from Lousiana Pacific regarding deal # 421598.1 (LT NW):

  Structure: 		7 MW around the clock, 100% load factor. Buy back at basis or remarket at a 70% / 30% split.

  February 23, 2001:  	Load was taken from 7 MW to 4 MW for HE 11 - 24.  Deal # 421598.1 was reduced from a 7 MW to a 4 MW (D. Scholtes).
			We remarketed the 3 MW's real time to WWP deal # 530654.1 (source PGE).  We did not enter a deal to keep LP whole.

  February 24, 2001:  	Load was taken from 7 MW to 4 MW for HE 1 - 24.   Deal # 421598.1 was reduced from a 7 MW to a 4 MW (D. Scholtes).
			We remarketed the 3 MW's real time to Puget for HE 1-9 deal # 530689.1 and to WWP for HE 10-24 deal # 530716.1.
			We did not enter a deal to keep LP whole.

 August 29, 2001:  	Virginia set deal # 421598.1 back to 7 MW, keeping sale to LP whole, and entered deal # 754187.1 to buy back 3 MW of LP energy at 70 % of  the 			price sold real time. (70% / 30% split according to agreement with LP).
			VT routed original purchase from PGE-deal 529161.1 (ST NW) back to Lousiana Pacific-deal # 421598.1 (LT NW) and routed the "buy-back" deal # 			754187.1 (ST W HOURLY) to WWP and to Puget (ST W HOURLY).

  I think that this will properly take care of the dispute and make Lousiana Pacific happy.  Please let me know if you have any questions or comments.

  Thanks,

  Virginia


Eric, Jon, Andy, Matt, Frank & Dutch,
You have been selected by Lavorato to review and validate gas curves for your region from 12/01/01 forward.  You will soon receive an announcement about a meeting which will take place Monday, February 4th at 10:00 AM.  At the meeting you will get instructions from representatives of Price Waterhouse Coopers about the validation process and the timing.  If you cannot make it, please get with Lavorato to decide who should attend in your absence.  If you have any questions, please ask.
Regards,
Ed


A Company (who has not agreed to go on record, but Smutny knows who it is) has decided not to build two planned power plants in CA because of all the uncertainty and the threat of the windfall profits tax.  Instead (and I'm not making this up), the Company is sending the two turbines to Bulgaria!

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


FYI - the only other temporary information I can give you is Thursday Feb 7. is simulation date (as per previous e-mail) and Monday, Feb. 11 is the current 'go live' date.  I'll try to keep you up to date with any changes.  If there is ANYTHING we think we have not done or will not complete by next Wednesday, Feb. 5 such as desk set ups, RisktRAC set up (including hierarchies), individual roll set ups, testing of Min's new DPR Automation, and anything else I may not be thinking of, please let me know as soon as possible, so we can get the right resources working on it.

Thanks,
Stacey

 -----Original Message-----
From: 	Nat, Steve
Sent:	Wednesday, January 30, 2002 3:25 PM
To:	Will, Lloyd; White, Stacey W.; Allen, Thresa A.; Bentley, Corry; Imai, Rika
Cc:	Belden, Tim; Presto, Kevin M.; Webb, Jay; Henry, Jane Hilburn; Bailey, Debra
Subject:	UBS Data Migrations

I have received several questions from the floor regarding the subject topic.  Here is what I know as of 2:00 today.  This is an evolving process.  Please distribute this note as appropriate:

All movement of 'data' from Enron to UBS is subject to legal approval.  Legal is developing policy guidelines that will govern what and how much data individual users and the IT department can move.

Data can be defined as application data (source code, executables, scripts, etc...), business data (curves, prices, deals, weather forecasts, etc...), and office documents (spreadsheets, word files, etc...)

Data is housed in many different places, including desktop C drives, individual network H drives, common file servers (O/M/R/W drives), database servers, application servers, and web servers.

Several steps have already been completed:

The physical file server environments for UBS have been established.
The physical DB server environments for UBS have been established.
The physical application and web server environments for UBS have been established.
Some file server directories have already been copied.  This was limited to data (executables, risk excel sheets, etc...) necessary for IT to test our critical applications in the new UBS production environment.
Our large EnPower and TDS Oracle databases were also copied for application testing.

Where do we stand?

I am maintaining, and have distributed to this group, an inventory of all software and hardware components associated with our Power application portfolio.  The inventory includes specific common file server directories that are necessary for our Power apps to run.  We have received input from several business owners in this area.
Legal and IT are collaborating on a process for moving file server data. (H/O/M/R/W)  We are expecting a process definition within days, given our Day 0 target of February 6th.  (legal integration date)
At this time, it sounds like individual UBS employees will participate in identifying files on the various file server drives listed above and signing a document specifying that that data movement adheres to legal policy guidelines.  Individuals may even be asked to physically move (drag and drop) files from the old Enron drives to UBS holding drives.  This is still under discussion.
We have made some basic assumptions about the amount of business data to be moved to UBS.  I have provided Tim, Kevin, and Lloyd an overview of these assumptions.  This is also still under discussion.

I will schedule a meeting in the next couple of days to discuss this, and other transition issues, in more detail.

Thanks, Steve


that is probably what i will end up doing.  i need to find some really nice smelling oil though.

 -----Original Message-----
From: 	"Allen, Jill (US - Houston)" <jilallen@deloitte.com>@ENRON
Sent:	Wednesday, October 31, 2001 11:53 AM
To:	Lenhart, Matthew
Subject:	RE:

They have gay people at LaStada???
J/K - I'm not sure why they are going there.  They said that there is a big
party tonight.  But I think some people are going to Sierra also.
I was hoping you'd be in your chipendale costume.  :)
-----Original Message-----
From: Matthew.Lenhart@ENRON.com [mailto:Matthew.Lenhart@ENRON.com << File: mailto:Matthew.Lenhart@ENRON.com >> ]
Sent: Wednesday, October 31, 2001 11:30 AM
To: Jilallen
Subject: RE:
the only thing at la strada is a bunch of nancy boys.  are your friends
trying to meet gay guys or are they gay?
    -----Original Message-----
   From:   "Allen, Jill (US - Houston)" <jilallen@deloitte.com>@ENRON
   Sent:   Wednesday, October 31, 2001 11:23 AM
   To:     Lenhart, Matthew
   Subject:  RE:
   I'll let you know.  Sierra would be fun.
   My roommate and her friends are going to LaStrada....I'm not sure what
   is going on there.
   We'll have to come up with a costume if we go out.
   -----Original Message-----
   From: Matthew.Lenhart@ENRON.com [mailto:Matthew.Lenhart@ENRON.com << File: mailto:Matthew.Lenhart@ENRON.com >>  <<
   File: mailto:Matthew.Lenhart@ENRON.com << File: mailto:Matthew.Lenhart@ENRON.com >>  >> ]
   Sent: Wednesday, October 31, 2001 11:05 AM
   To: Jilallen
   Subject: RE:
   i don't want to be a soilder during the war.  where are you going if you
   go
   out?  sierra?  let me knwo if you decide to go out b/c i think it would
   be
   a fun night.
       -----Original Message-----
      From:   "Allen, Jill (US - Houston)" <jilallen@deloitte.com>@ENRON
      Sent:   Wednesday, October 31, 2001 10:57 AM
      To:     Lenhart, Matthew
      Subject:  RE:
      i haven't decided if i'm going out or not either.
      do you want to borrow my GI Jane outfit?  :)
      -----Original Message-----
      From: Matthew.Lenhart@ENRON.com [mailto:Matthew.Lenhart@ENRON.com << File: mailto:Matthew.Lenhart@ENRON.com >>  <<
   File: mailto:Matthew.Lenhart@ENRON.com << File: mailto:Matthew.Lenhart@ENRON.com >>  >>  <<
      File: mailto:Matthew.Lenhart@ENRON.com << File: mailto:Matthew.Lenhart@ENRON.com >>  << File:
   mailto:Matthew.Lenhart@ENRON.com << File: mailto:Matthew.Lenhart@ENRON.com >>  >>  >> ]
      Sent: Wednesday, October 31, 2001 10:42 AM
      To: Jilallen
      Subject: RE:
      i might go out.  i don't think that i am dressing up.  are you going
      out?
      i would be up for going out, but i have nothing to dress up in.
          -----Original Message-----
         From:   "Allen, Jill (US - Houston)" <jilallen@deloitte.com>@ENRON
         Sent:   Wednesday, October 31, 2001 10:08 AM
         To:     Lenhart, Matthew
         Subject:  RE:
         what are you doing tonight?  are you dressing up?
         This message (including any attachments) contains confidential
         information intended for a specific individual and purpose, and is
         protected by law.  If you are not the intended recipient, you
   should
         delete this message.  Any disclosure, copying, or distribution of
      this
         message, or the taking of any action based on it, is strictly
         prohibited.
   **********************************************************************
      This e-mail is the property of Enron Corp. and/or its relevant
   affiliate
      and may contain confidential and privileged material for the sole use
   of
      the intended recipient (s). Any review, use, distribution or
   disclosure
      by others is strictly prohibited. If you are not the intended
   recipient
      (or authorized to receive for the recipient), please contact the
   sender
      or reply to Enron Corp. at enron.messaging.administration@enron.com
   and
      delete all copies of the message. This e-mail (and any attachments
      hereto) are not intended to be an offer (or an acceptance) and do not
      create or evidence a binding and enforceable contract between Enron
      Corp. (or any of its affiliates) and the intended recipient or any
   other
      party, and may not be relied on by anyone as the basis of a contract
   by
      estoppel or otherwise. Thank you.
   **********************************************************************
      - This message (including any attachments) contains confidential
      information intended for a specific individual and purpose, and is
      protected by law.  - If you are not the intended recipient, you
   should
      delete this message and are hereby notified that any disclosure,
      copying, or distribution of this message, or the taking of any action
      based on it, is strictly prohibited.
   This message (including any attachments) contains confidential
   information intended for a specific individual and purpose, and is
   protected by law.  If you are not the intended recipient, you should
   delete this message.  Any disclosure, copying, or distribution of this
   message, or the taking of any action based on it, is strictly
   prohibited.
- This message (including any attachments) contains confidential information intended for a specific individual and purpose, and is protected by law.  - If you are not the intended recipient, you should delete this message and are hereby notified that any disclosure, copying, or distribution of this message, or the taking of any action based on it, is strictly prohibited.


---------------------- Forwarded by Tana Jones/HOU/ECT on 01/13/2000 05:07 PM
---------------------------

Molly Harris
01/13/2000 05:06 PM
To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT
cc: Bob Shults/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Brian
Hunter-Lindsay/LON/ECT@ECT, Coenraad Basson/LON/ECT@ECT, Bhautik
Patel/LON/ECT@ECT, David Hardy/LON/ECT@ECT, David Weekes/LON/ECT@ECT, Sylvia
A Campos/HOU/ECT@ECT, Carrie Southard/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT
Subject: EOL Credit Responses 1/13

Please find attached Credit's EOL responses for 1/13/00.

Regards
Molly


Chris,

Hopefully the following points should answer your questions. Feel free to
call me (34292) if you still have any question.

Yvan

1_  We will value Teco as a series of hourly Spread options.
Legitimate points of concern:
a) Are we valuing an index deal or a physical deal?
  b) If it is a physical deal can the plant realistically react on an hourly
basis?

Answer: The deal Enron enters into is based on an spread between PJM index
and the appropriate OIL curve (New York Harbor + basis). However, the trigger
for the default of the contract (which is really what we are concerned with)
is a function of the plant cash flows compared to the debt level. The plant
cash flows depend on the physical operations of the plant and its capacity to
dispatch during the most expensive hours of the year. Therefore the question
of whether the plant can or cannot ramp up quickly enough to dispatch
economically is very pertinent to our valuation.
I would argue that the plant will always (or almost always) be able to
dispatch economically for the following 2 reasons. In the first place, its
operational ramp up time is only 10 minutes. Secondly, the scalar curve we
use is fairly well behaved and doesn,t swing around a mean position (see
graph below), hence allowing sufficient preparation for the dispatchers. The
chances of dispatchers being caught by surprise when prices spike up or down
should therefore be relatively small, and the plant should be able to follow
the real time prices pretty well.

2_ The power curve we use is PJM west. Even though the plant is located in
the south east end of PJM (i.e. the del Marva peninsula), we prefer not to
use the east curve which is too thinly traded to be meaningful.

4_ So far we have only used monthly vol for power. Should we start using
daily vol as well, then the blending formula would be:
'fvol = Sqr((dblMvol * dblMvol * (jDate - jToday) + dblDvol * dblDvol * 15) /
(jDate - jToday + 15))

with  jDate the first of the considered month of dispatch
 dblMvol the monthly vol
 dblDvol the daily vol

6_ We are assuming 50% flat correlation for 20 years (a much more
conservative assumption than 15%). However we run sensitivities where the
correlation goes from 30% to 70%.

7_ Yes, we are deducting all operative expenses from the valuation.
Origination is currently trying to reconcile the differences in operations
expenses between their numbers and those used by credits.

8_ The valuation model (coded by Alex Huang, Research) is based on a
bidimensional tree, and therefore doesn,t use the SPRDOPT function. However,
we checked that the SPRDOPT function from the structuring model and the tree
based model yielded the same values for the spread option.

9_ The strike for the spread option is the sum of the OIL price + the VOM.

******************************************************************************
******************************************************************************
*********************888

Please send me an excel spreadsheet which depicts the value that you see
associated with the heat rate spread option.  I want to make sure that I
understand exactly how you propose valuing the transaction and how this value
would be booked.  As such, please provide the following detail:

Will we be valuing/booking a series of monthly call options or a series of
daily call options?
What power curve are we valuing the deal against - PJM East or West Hub?
Please send me the current fuel curve that you are converting to $/MWh to
value the deal?
What volatilities are you using to value the options - monthly volatilities
or intra-day volatilities or a blend of the two (if blending please show me
what formula you using to blend the two vols)?
What expiration date are you using, i.e.: for monthly call options the 15th
of the relevant month, and for daily options?
What correlation are you assuming, 15% flat for twenty years?
Are you deducting all operating expenses from the value of the option?
Are you using the "SPRDOPT" Exotic Options function to value the option?
Are you using the $/MWh VOM dollar amount as your strike?
Has Don provided the fixed payment stream?  This stream should be covering
both P&I and not just principal.

Yvan, and Ben, please provide answers to these question via written
correspondence so that their is limited probability of misunderstanding.
Thank you both very much for your time and help thus far.  Furthermore, I
would like to reiterate that RAC's goal, prior to quoting any credit reserve,
is to be 100% confident that: (i) the methodology that is being employed is
consistent among the internal groups; and (ii) the inherent value of the
price risk management contracts matches.  This enables RAC to manage the
associated risk during the life of the transaction both effectively and
appropriately.

Regards,

Christopher


Julie and Danny are out so I will let you know what works as soon as I can. Thanks.

 -----Original Message-----
From: 	Stark, Cindy
Sent:	Thursday, December 20, 2001 11:16 AM
To:	Harris, Steven
Subject:	RE: STAN HORTON HOLIDAY CHANGE OF PLANS

Steve:  What about Friday, January 4th?   Stan is wide open all day....just let me know as soon as you can.

 -----Original Message-----
From: 	Harris, Steven
Sent:	Wednesday, December 19, 2001 4:14 PM
To:	Stark, Cindy
Subject:	RE: STAN HORTON HOLIDAY CHANGE OF PLANS

Cindy, I spoke to Danny and he would like to delay the meeting on TransPecos until the first week in January. Please let me know what works for Stan's schedule. Thanks. I will let Julie know.

	Steve

 -----Original Message-----
From: 	Stark, Cindy
Sent:	Wednesday, December 19, 2001 3:53 PM
To:	Howard, Kevin A.; Brassfield, Morris; Walls Jr., Rob; Ambler, John; Stanley, Brian (George B Stanley); Hughes, James A.; Shafer, John; Rice, Randy; Pribble, Dan; Martin, Jerry D.; Keller, John R.; Hawkins, Don; Craig, Rick; Place, Janet; Nelson, Mike; Neppl, Ray; Hill, Robert; Neubauer, Dave; Miller, Mary Kay; Kilmer III, Robert; Hayes, Robert; Harris, Steven; Gadd, Eric; Saunders, James; Peters, Jerry; Soldano, Louis; McCoppin, Dorothy; FOWLER, PEGGY; Umanoff, Adam; Garrison, John L; Clayton, Lawrence; Gibbs, Dana; Smith, Gary; McCarty, Danny; Lowry, Phil; Hayslett, Rod; Hartsoe, Joe; Hotte, Steve; Fossum, Drew; Corman, Shelley; Cordes, Bill
Subject:	STAN HORTON HOLIDAY CHANGE OF PLANS
Importance:	High

Hello, everyone!

It has been determined that Stan will NOT be in the office on Monday, December 31; therefore, we will NOT have an ETS staff meeting that day.   Please notify any of your people who customarily attend and who I may have inadvertently left off the above distribution.   Stan did ask that his direct reports send him via e-mail a weekly update of key points for the week of December 23 and the week of December 30.

Stan wanted you to know that he will back in the office next Thursday, December 27, for meetings or conference calls and even on the 28th, if necessary.   So don't hesitate to call me should you need to schedule some time with Stan.   I will be here!

Cindy Stark
Executive Assistant to Stan Horton
Tel:   713/853-6197
Fax:  713/345-7047
Cindy.Stark@enron.com


Weren't we also going to get a printer in the area?
 -----Original Message-----
From: 	Jameson, Lance
Sent:	Wednesday, December 19, 2001 4:27 PM
To:	Jones, Tana
Cc:	Witherspoon, Joe
Subject:	29th floor

Tana,

The suite of offices on 29 will be complete with a fax machine and an additional analog line for P.C. dial-up access by close of business today.  The only exception to your requirements is for an additional table in the empty room.  I believe that will be in by mid day tomorrow.

We will prepare 32 Thursday.


Vince, I am waiting to hear back from our compliance department on this.  I
will get you the info as soon as I rec. it.  I mailed the receipt for the
deposit today.

David C. Walkup
Sr. Financial Consultant
713-658-1685
800-456-9712

> ----------
> From:  Vince.J.Kaminski@enron.com[SMTP:Vince.J.Kaminski@enron.com]
> Sent:  Tuesday, December 19, 2000 11:09 AM
> To:  David_Walkup@ML.com
> Cc:  Vince.J.Kaminski@enron.com
> Subject:  Cusip
>
> David,
>
> The CUSIP of the bond I have is  694308EF0
> PGC  8.375%  5/1/25 1st & Ref Mortgage bond, ser 92B.
>
>
> Vince
>
>
____________________________________________________________

CAUTION: Electronic mail sent through the Internet is not secure and could
be intercepted by a third party.  For your protection, avoid sending
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stop payments, as it is our policy not to accept such items electronicall


Dan,

I work for Tom Martin on the Texas Gas Trading Desk and he has some questions
on EOL "Force Majeure" language.  Specifically, we buy/sell gas at the Exxon
Katy Plant and were wondering the "Force Majeure" ramifications of the the
Plant closing due to freeze-offs, i.e. can we claim Force Majeure in that
instance and what remedies are provided for in the EOL contract language?
Additionally, we buy/sell gas at HPL pooling points such as Agua Dulce Pool
and were curious about the Force Majeure provisions and remedies for these
pooling zones.

I do not know if you are the right person to contact regarding this
information, but if you can provide any insight I would greatly appreciate it.

Thanks in advance.

Sincerely,

Eric Bass
x3-0977


A headhunter, Keith Rice (281/331-3210) just called looking for traders/marketers in West Palm Beach, FL for FP&L.  He also is looking for a Northwest/PG&E Gas Trader for Oxy in Houston.  I told him I would give you guys his number.  Call him if you want.

C


My apologies, Rosalee.  Not sure what happened.  Let's try again.  Let me
know if you're still having problems.

Best,
Jeff


See new authorization forms attached below.  Deb

Deb Korkmas
EWS Legal Dept.
1400 Smith Street, Room 3819
Houston, TX  77002
Phone:  713-853-5448
Fax:  713-646-3393
----- Forwarded by Deb Korkmas/HOU/ECT on 03/02/2001 01:22 PM -----

	Geneva Holland/ENRON@enronXgate
	02/23/2001 05:25 PM

		 To: John Ale/HOU/AZURIX@AZURIX, Elizabeth Labanowski/ENRON@enronXgate, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marc Manly/HOU/EES@EES, Jordan
Mintz/ENRON@enronXgate, Kristina Mordaunt/Enron Communications@Enron
Communications, Eric Newell/EWC/Enron@ENRON, Janet Place/NPNG/Enron@ENRON,
Molly Sample/Houston/Eott@Eott, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Vicki Sharp/HOU/EES@EES,
Stephen Wallace/Corp/Enron@ENRON, Rob Walls/ENRON@enronXgate, Randy
Young/NA/Enron@Enron, Denise Almoina/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Martha Braddy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, William E
Brown/ENRON@enronXgate, Sarah Bruck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt,
Cindy Buckley/LON/ECT@ECT, Kathleen Carnahan/NA/Enron@Enron, Kim
Collins/HOU/EES@EES, Julie Delahay/EWC/Enron@ENRON, Rosy
Duron/ENRON@enronxgate, Carol Essig/ENRON@enronXgate, Nony
Flores/HOU/ECT@ECT, Brenda L Funk/ENRON@enronXgate, Lauren
Hagerty/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Barbara Hankins/HOU/EES@EES, Ed
B Hearn III/HOU/ECT@ECT, Mary J Heinitz/HOU/ECT@ECT, Robin Hill/Enron
Communications@Enron Communications, Gina Karathanos/ENRON@enronXgate, Sue
Kelly/LON/ECT@ECT, Deb Korkmas/HOU/ECT@ECT, Matt Maxwell/Corp/Enron@ENRON,
Darlene McKeever/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wyndel
McNamara/NA/Enron@ENRON, Stephanie Moorehead/HOU/EES@EES, Nancy
Muchmore/NA/Enron@Enron, Mary Ogden/HOU/ECT@ECT, Larry
Pardue/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Claudia Santos/Corp/Enron@Enron,
Tami Scrudder/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Norma
Tidrow/HOU/AZURIX@AZURIX
		 cc: Hardie Davis/ENRON@enronXgate, Rebecca Carter/Corp/Enron@ENRON, Lillian
Bailey/ENRON@enronXgate, Teresa Callahan/ENRON@enronXgate, Kate
Cole/ENRON@enronXgate, Irene Garcia/ENRON@enronXgate, LaShonda
LaDay/ENRON@enronXgate, Peggy Miller/ENRON@enronXgate, Lori
Pinder/ENRON@enronXgate, Renee Rodriguez/ENRON@enronXgate, Tanya
Sanford/ENRON@enronXgate
		 Subject: Corp Services Authorization Memos

Attached are 3 updated Word forms for requesting new US entities (Corp, LLC,
LP).  Unless you have access to our automated HotDocs system for requesting
Secretary of State corporate activities, please use the attached forms (and
delete data files for older versions).  Although these forms are not as user
friendly as our HotDocs templates, they have been conformed as nearly as
possible to the HotDocs forms, and are now as automated as MicroSoft Word
will allow.  I think you will find these a great improvement over our old
forms.  Please forward these new forms to anyone in your group who might need
to create a new domestic entity.

I continue work on HotDocs templates and Word forms for authorization of US
mergers, acquisitions, name changes, and for similar activities for non-US
entities, and will make those available to you ASAP.  In the meantime, if you
have any questions or comments regarding Corp Services forms, please contact
me via email or call me at Ext 37291.

Geneva K. Holland
Asst Secretary & Mgr Corp Svcs
(713)853-7291
EB4802