Stuart advises that his request equally applies to the option to purchase
Catalytica Combustion Systems, Inc. capital stock held by Sundance Assets,
L.P. ( not the dreaded spark spread option which you worked on in the same
transaction, which spark spread option was repurchased and terminated some
months ago ). Let me know when you would like to discuss the matter. The 1997
Stock Purchase Agreement pursuant to which the option was originally granted
was signed today ( we are still waiting on an attachment to that agreement to
be delivered by the other side before we release the document to them), and
we did modify the option and some transfer restrictions in that Agreement
that will apply to the Raptor analysis. A registration statement registering
the CCSI common stock that would be acquired upon exercise of the option was
filed yesterday with the SEC. Let me know when you would like to meet to
discuss this matter.
----- Forwarded by Barton Clark/HOU/ECT on 08/30/2000 05:28 PM -----

	Barton Clark
	08/30/2000 11:24 AM

		 To: Stuart Zisman/HOU/ECT@ECT
		 cc: Richard Lydecker/Corp/Enron@Enron
		 Subject: Re: Project Raptor - Warrants

Does the request apply as well to options to purchase? There is an option in
the Catalytica transaction - recently renegotiated ( we are signing the deal
up today) to purchase 500,000 plus CCSI shares on a cashless basis. The share
number is subject to adjustment in a stock split to occur upon the spin off
of CCSI prior to the merger of its parent sometime before year end. The
option expires in February 2001.

	Stuart Zisman
	08/30/2000 10:45 AM

		 To: Teresa G Bushman/HOU/ECT@ECT, Lance Schuler-Legal/HOU/ECT@ECT, Travis
McCullough/HOU/ECT@ECT, Anne C Koehler/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT,
James Grace/Corp/Enron@ENRON, Peter Keohane/CAL/ECT@ECT, Lisa
Mellencamp/HOU/ECT@ECT, Peter del Vecchio/HOU/ECT@ECT, Barton
Clark/HOU/ECT@ECT
		 cc: Julia Murray/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Sara
Shackleton/HOU/ECT@ECT
		 Subject: Project Raptor - Warrants

If any of the Raptor investments for which you are responsible is comprised,
in whole or in part, of warrants, please provide a copy of the warrants (and
any related documentation which governs the exercise of the warrants) to
either Sara Shackleton or Mary Cook.  For the public companies this should be
done ASAP (i.e. no later than the end of business today) and for the privates
this should be done by the end of the week.  Also, please arrange to meet
with either Mary or Sara to provide a brief explanation as to how the
derivatives work (they need to understand the nature of the derivatives in
order to properly structure the Raptor hedge).  Once again, I apologize for
the short notice but hope that each of you recognizes that the internal
pressure to push investments into Raptor has increased exponentially.  Thanks
in advance.

Stuart


Rick, I should have copied you on this.
---------------------- Forwarded by Robert Frank/HOU/EES on 06/21/2000 11:03
AM ---------------------------

Robert Frank
06/21/2000 10:30 AM

To: Susan M Landwehr/HOU/EES@EES
cc: Stephen D Burns/Corp/Enron@ENRON, Barbara A Hueter/DUB/EES@EES, Sue
Nord/HOU/EES@EES, scott_bolton@enron.net, Chris Long/Corp/Enron@ENRON
Subject: Re: electronic signature legislation

Yes Rick asked me to look at it - and I will get back to everyone with more
information.  From what I know at this point, there is a lot of confusion
over the relationship between the new federal law and state efforts to enact
the Uniform Electronic Transactions Act ('UETA"). (There are some very
complex and unanswered preemption issues that remain).  I would not take UETA
off of our state legislative agenda yet.

Susan M Landwehr
06/21/2000 06:59 AM
To: Robert Frank/HOU/EES@EES
cc: Stephen D Burns/Corp/Enron@ENRON, Barbara A Hueter/DUB/EES@EES, Sue
Nord/HOU/EES@EES, scott_bolton@enron.net, Chris Long/Corp/Enron@ENRON
Subject: Re: electronic signature legislation

Bob--rumor has it  (I think that rumor started with Rick mentioning it to
me!) that you are putting together an analysis of this bill?  Just wanted to
save Mr. Burns some time if that is the case.  COuld you please make sure
that the folks on this e mail get a copy of your analysis.  Thanks.
---------------------- Forwarded by Susan M Landwehr/HOU/EES on 06/21/2000
06:45 AM ---------------------------

Susan M Landwehr
06/16/2000 01:12 PM
To: Stephen D Burns/Corp/Enron@ENRON
cc: Chris Long/Corp/Enron@ENRON, scott_bolton@enron.net, Sue
Nord/HOU/EES@EES, Barbara A Hueter/DUB/EES@EES
Subject: Re: electronic signature legislation

Thanks. Enacting electronic signature bills was one of our top ten priorities
for 2000, so if we could get them all in one swoop, what a nice way to take
credit!!!!!

Stephen D Burns@ENRON
06/16/2000 11:02 AM
To: Susan M Landwehr/HOU/EES@EES
cc: Chris Long/Corp/Enron@ENRON, scott_bolton@enron.net@EES, Sue
Nord/HOU/EES@EES, Barbara A Hueter/DUB/EES@EES
Subject: Re: electronic signature legislation

I'm getting a copy of the bill.  I'll review it and get an answer to you.

Steve

Susan M Landwehr@EES
06/16/2000 10:51 AM
To: Stephen D Burns/Corp/Enron@ENRON, Chris Long/Corp/Enron@ENRON
cc: scott_bolton@enron.net, Sue Nord/HOU/EES@EES, Barbara A
Hueter/DUB/EES@EES

Subject: electronic signature legislation

Steve/Chris--I've been working on putting together a compilation of the
individual state legislation that passed this year for the midwest region on
electronic signature authorization.  I saw a blurb in the paper yesterday
that Congress passed a bill this week out of the House on the same issue.
Could you give me some insight as to whether the federal legislation is
comprehensive and will it trump the state legislation or does it granfather
state legislation.


FYI

-----Original Message-----
From: Counihan, Rick [mailto:rick.counihan@greenmountain.com]
Sent: Wednesday, November 29, 2000 9:04 AM
To: 'ARM List Serve'; 'Bennett, Jeanne'; 'Douglass, Dan'; 'Day, Mike'
Subject: FW: Daily Electric Power News - 11-28-00

see duke offer below

-----Original Message-----
From: Oneill, Karen
Sent: Tuesday, November 28, 2000 9:07 PM
To: New Markets (#770); Management Team (#710); California (#790)
Subject: FW: Daily Electric Power News - 11-28-00

Note an interesting item far down on the newsletter about Duke Power
offering to manage all of SDG&E's load for the next five years for a fixed
price of 6 cents/kWh.

-----Original Message-----
From: news@mail.energycentral.com [mailto:news@mail.energycentral.com]
Sent: Monday, November 27, 2000 6:40 PM
To: oneill@gmer.com
Subject: Daily Electric Power News - 11-28-00

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ENERGY CENTRAL ELECTRIC POWER NEWS FOR 11/28/00 - 53 NEW ITEMS
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COMPETITION & DEREGULATION
______________________________________________________________________

FERC CHAIR WANTS EARNINGS JUSTIFICATION INFO; FEINSTEIN TO WORK FOR
CONGRESSIONAL REFUND AUTHORITY
Three days after the Federal Energy Regulatory Commission hearing
November 14 in San Diego on California's "broken" electricity
market, the agency's chair, James Hoecker, gave a writing
assignment to generators, marketers and other players in the
state's market. - (California Energy Markets, LENGTH=1008 words)
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[ ] 55-1: You can request 2 FREE samples of CALIFORNIA ENERGY MARKETS

POWER ALERTS HAMPERING CALIFORNIA POWER MARKET AS PROBLEMS CONTINUE
Serious troubles continue for the deregulated electric markets on
both the West and East Coasts. - (Utility Spotlight, LENGTH=1460 words)
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MASSEY: FERC HAS ROLE TO PLAY IN POTENTIAL FOR MARKET POWER ABUSES
With the California experience in mind, Federal Energy Regulatory
Commissioner William Massey told the Energy Bar Association last
week that FERC has a role to play in exercising vigilance over the
potential for market power abuses. - (Utility Spotlight,
LENGTH=431 words)
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MAKE UTILITIES GO AFTER THE REFUNDS, PEACE SAYS
Trying another legal angle to refund consumers for this past
summer's price spikes, Senator Steve Peace (D-El Cajon) told
California Public Utilities Commission president Loretta Lynch in
a November 17 letter that regulators should require utilities to
demand money from wholesale generators. - (California Energy
Markets, LENGTH=249 words)
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FERC MUST DO MORE, RESPONDENTS TO PROPOSED CALIF. ORDER SAY
FERC must "go further" than it already has in its actions to
address market power and mitigate excessive prices in California,
Energy Secretary Bill Richardson told the federal commissioners in
documents filed before the Thanksgiving break. - (Megawatt Daily,
LENGTH=812 words)
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MIDAMERICAN ENERGY IS FIRST TO BECOME REGISTERED S RETAIL ELECTRIC
SUPPLIER IN SOUTHWEST OHIO
MidAmerican Energy Company is the first energy company to become
registered as a Certified Retail Electric Supplier in the
Cincinnati Gas & Electric Company territory. - (PR Newswire,
LENGTH=452 words)
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______________________________________________________________________

ACQUISITIONS
______________________________________________________________________

BRAZIL : SIX COMPANIES STRUGGLE FOR CESP PARANA
There are six foreign companies interested in acquiring electric
power generating company Cesp Parana to be tendered in the
begining ofDecember 2000 for a minimum price estimated at
R$1.739bil. - (Screaming Media - comtex, LENGTH=249 words)
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______________________________________________________________________

RATES
______________________________________________________________________

PG&E CO. PROPOSES HUGE RATE INCREASE TO RECOVER DEBT
Last Wednesday, PG&E Co. proposed a five-year "rate stabilization
plan" that would allow the utility to pass along to customers more
than $3 billion in power costs incurred last summer. -
(IssueAlert, LENGTH=1498 words)
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SCE FILES FOR CONCLUSION TO 4-YEARRATE FREEZE, SEEKING 9.9% INCREASE
Declaring its rate freeze legally ended in August but bucking
stiff political winds, Southern California Edison filed with state
regulators on Nov. 16 for an end to the four-year-old rate freeze,
a 9.9% increase as a "rate stabilization" mechanism  and for
provisions for future increases if wholesale power prices continue
to exceed the utility's retail rate levels, which it proposed to
go back to pre-freeze 1996 levels of around 10.5 cents per Kwh. -
(Utility Spotlight, LENGTH=414 words)
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PGE PULLS POWER COST CASE, FILES FOR MORE IN NEW GENERAL CASE
PGE has decided to drop its request, filed last August with OPUC,
for a 13.5 percent rate increase to recover higher market power
costs, and replaced it with a general rate case that asks for a 17
percent rate hike. - (Clearing Up, LENGTH=689 words)
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Sackett at (206) 285-4848 or dsackett@newsdata.com with your
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OAK RIDGE ELECTRIC RATES MAY FALL IF BUILDING SUBSIDY CUT
Oak Ridge City Council approved an ordinance Monday that would
sharply cut subsidies developers receive from the city to install
underground utilities in new subdivisions. - (Screaming Media -
comtex, LENGTH=533 words)
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TACOMA POWER PLANS SPRING 2001 RATE REVIEW; NO PLANS FOR IMMEDIATE
RATE HIKE
Despite some mainstream media reports to the contrary, Tacoma
Power has no immediate plans to raise rates. But the muni is
planning to begin a full cost review next spring, with a possible
rate adjustment in October 2001--the same time its new BPA
contract takes effect. - (Clearing Up, LENGTH=917 words)
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______________________________________________________________________

GENERAL
______________________________________________________________________

DUKE ENERGY PROPOSES TO MANAGE ALL OF SDG&E'S ELECTRICITY EEDS FOR
NEXT FIVE YEARS AT LOW FIXED PRICE
Duke Energy, through its business unit Duke Energy North America),
has put forth another bold solution to California's electricity
crisis by proposing to manage San Diego Gas & Electric's
3,300-megawatt electricity load at a fixed price of 6 cents per
kilowatt-hour for the next five years. - (PR Newswire, LENGTH=1050 words)
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THE BEST-LAID RESOURCE PLANS
A resource plan is a map, not a bible. Forecasts are intended to
identify potentialities and to give planners and decision-makers a
common set of data that inform their choices about how to prepare
for contingencies. - (California Energy Markets, LENGTH=920 words)
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RX FOR IOU'S: SLIM DOWN.
To an industry whose mantra of late has been "diversify and
conquer," a prominent utilities consultant has some startling
advice: Slim down and focus on your core strengths. - (Public
Utilities Fortnightly, LENGTH=665 words)
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Utilities Fortnightly magazine.

WAUKESHA, WIS., ELECTRIC PLANT BREAKS GROUND ON $20 MILLION EXPANSION
Waukesha Electric Systems has broken ground for a $20 million
expansion that will add 100,000 square feet to its electric
transformer plant. - (Knight-Ridder, LENGTH=354 words)
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HIGH ENERGY COSTS PLUS COLD SPELL EQUAL BAD NEWS FOR MILWAUKEE-AREA
RESIDENTS
Spiraling energy costs and an early cold spell have resulted in a
30 percent increase in the number of low-income residents applying
for financial assistance to help pay for heating bills this
winter, officials say. - (Knight-Ridder, LENGTH=1383 words)
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MIDWEST ENERGY PULLING PLUG ON POWER PIRATES
In the past, scofflaws who pirated electricity fromMidwest Energy
Cooperative might have gotten away with it. - (Screaming Media -
comtex, LENGTH=513 words)
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UPDATE 1-SIEMENS PLANS U.S. SHAKE-UP
German electronics and engineering group Siemens said on Monday it
would shake-up its U.S. operations in preparation for a New York
listing next spring. - (Reuters, LENGTH=651 words)
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______________________________________________________________________

DEALS/CONTRACTS
______________________________________________________________________

GLOBAL WATER TECHNOLOGIES AWARDED ADDITIONAL $10 MILLION IN POWER
INDUSTRY CONTRACTS
Global Water Technologies, Inc.  a company utilizing advanced
technologies and engineered solutions to provide process cooling
water  to industry and municipalities worldwide, today announced
that its water cooling subsidiary, Psychrometric Systems, Inc.
(PSI) has been  awarded an additional $10 million in new contracts
during the fourth  quarter to supply its water cooling technology
and services to its  power industry customers. - (Business Wire,
LENGTH=602 words)
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NRG ENERGY INC. TAKES 50-PERCENT INTEREST IN CONOCO POWER VENTURE
Conoco Global Power, the  wholly owned power subsidiary of Conoco
Inc. today announced NRG Energy Inc., through subsidiaries, is
joining the SRW Cogeneration Limited Partnership. - (Business
Wire, LENGTH=855 words)
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AES TO CONSTRUCT $425 MILLION BARKA POWER AND DESALINATION PLANT IN OMAN
The AES  Corporation announced today that AES Barka has been
awarded the Barka Power and Desalination Project - Phase I in the
Sultanate of Oman. - (Business Wire, LENGTH=1416 words)
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______________________________________________________________________

TRANSMISSION & RELIABILITY
______________________________________________________________________

STOP SOUTHEAST TRANSCO PLANS, APPA AND OTHERS ADVISE FERC
Send Southeastern utilities back to the drawing board-with other
interested parties-to redo their regional transmission
organization proposals, APPA and other groups said. - (Public
Power Weekly, LENGTH=733 words)
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COMMERCIAL CUSTOMERS SAY THEY WANT RELIABILITY, GOOD SERVICE
The price of the electricity they buy is very important to large
business customers, but the reliability of that electricity and
the quality of customer service that comes with it also are
critical, three businessmen told APPA's recent Customer
Connections Workshop. - (Public Power Weekly, LENGTH=819 words)
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THOUSANDS LEFT WITHOUT POWER IN PUTNAM
On a night when the low temperature reached 19 degrees, many
Putnam County customers of American Electric Power Corp. were left
cold and in the dark by a power outage. - (Screaming Media -
comtex, LENGTH=648 words)
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______________________________________________________________________

POWER PROJECTS
______________________________________________________________________

ITALIAN FIRMS WIN 587-MILLION-DOLLAR DUBAI POWER CONTRACT
The government of Dubai has signed a  587-million-dollar contract
with two Italian firms, Enel Power and  Fisia Italimpianti, for a
power and desalination plant, newspapers  reported Sunday. - (AFP,
LENGTH=203 words)
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BRAZIL: ENRON, DUKE AND EL PASO TO SET UP OPERATIONS OF THERMAL
The representatives of Enron, El Paso and Duke Energy will set up
operations of four thermal electric power facilities in 2001 -
(Screaming Media - comtex, LENGTH=191 words)
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COMPANY UNVEILS NEW PLAN TO ENSURE STEADY POWER
Nigeria's state-owned National Electric Power Authority (NEPA) is
to build 16 new power plants within the next 10 years as part of
ongoing efforts to ensure a steady supply of electricity in the
country. - (Screaming Media - comtex, LENGTH=345 words)
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MALAYSIA'S POWERTEK BERHAD TO BUILD THIRD POWER STATION
Independent power producer Powertek Berhad is set to nearly double
its electricity-generating capacity from 770 megawatts (MW) at
present to 1,490MW in 2003. - (Screaming Media - comtex,
LENGTH=321 words)
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AV BIRLA GROUP TO SPEND 23 BLN RUPEES ON 450MW POWER PLANT
The Aditya Vikram Birla Group said it is setting up a 450MW power
plant at Mangalore city in Karnataka state at a cost of around 23
bln rupees. - (Screaming Media - comtex, LENGTH=140 words)
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INDIAN STATE TO RECONSIDER ENRON POWER PROJECT
The western Indian state of Maharashtra  is looking at cancelling
the second phase of a 2,164-megawatt Enron  power project because
of escalating costs, reports said Monday. - (AFP, LENGTH=237 words)
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OMAN, U.S. FIRM AES INK BARKA POWER PROJECT
Oman on Sunday signed a 175 million rial ($455 million) contract
with U.S. firm AES Corp to build a 400-megawatt private power
plant, an Economy Ministry statement said. - (Reuters, LENGTH=336 words)
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NEPAL KING INAUGURATES FIRST PRIVATE HYDRO-ELECTRIC POWER PROJECT
King Birendra on Monday inaugurated  Nepal's first private
hydro-electric power project, state-run radio  reported,
signalling a major step in the government's bid to attract
foreign investment to the sector. - (AFP, LENGTH=414 words)
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______________________________________________________________________

RENEWABLES
______________________________________________________________________

BIGGEST WIND FARM TO BUILD IN AUSTRALIA
The smallest state in Australia will build the biggest wind farm.
- (Screaming Media - comtex, LENGTH=117 words)
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______________________________________________________________________

PEOPLE
______________________________________________________________________

MARCIE EDWARDS TO HEAD MUNICIPAL UTILITY IN ANAHEIM
Marcie L. Edwards, director of bulk power for the Los Angeles
Department of Water and Power, will be the next general manager of
Anaheim Public Utilities. She will replace Edward K. Aghjayan, who
is retiring Dec. 28 after a decade at the California utility. -
(Public Power Weekly, LENGTH=268 words)
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JOSEPH W. BENNETT JOINS ENERCOM AS ACCOUNT EXECUTIVE
Enercom, Inc., announces the addition of Joseph W. Bennett, P.E.
to the firm. Bennett, who will be based in Phoenix, Arizona, will
be responsible for the company's business development and customer
care management activities. - (PR Newswire, LENGTH=408 words)
--> NEWS SUBSCRIBERS can access this article for free!

______________________________________________________________________

ENVIRONMENTAL
______________________________________________________________________

EIR FINDS FAULT WITH PG&E HYDRO AUCTION; PG&E'S TRANSFER PLAN DROPPED
In what could be major a setback for Pacific Gas & Electric's
valuation plans, a draft environmental impact report (EIR)
released on November 20 by the California Public Utilities
Commission found that the utility's proposed hydro assets auction
could pose a host of environmental risks [A99-09-053]. -
(California Energy Markets, LENGTH=610 words)
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CLEAN POWER: MEASURING COSTS
The utility industry was jolted recently by news of a $1.2 billion
clean-up agreement negotiated between a Virginia power company and
the Environmental Protection Agency. - (Screaming Media - comtex,
LENGTH=579 words)
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______________________________________________________________________

NUCLEAR
______________________________________________________________________

US: PPA ANALYSIS FOR ASSESSING SAFETY OF NUCLEAR WASTE
The study for safe disposal of radioactive waste generated from
nuclear power plants has been carried out since forty years -
(Screaming Media - comtex, LENGTH=552 words)
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CHERNOBYL PLANT SHUT DOWN BY POWER FAILURE
The Chernobyl nuclear power plant's sole working reactor was shut
down temporarily early Monday after a power failure caused by an
ice-covered power line. - (Screaming Media - comtex, LENGTH=283 words)
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NRC TO MEET NORTHEAST UTILS ON SAFETY WORRIES AT MILLSTONE
The Nuclear Regulatory Commission will meet with Northeast Nuclear
Energy Co. on Tuesday, November 28, to discuss the agency's safety
concerns following inspections at the Millstone nuclear plant in
Connecticut. - (Reuters, LENGTH=621 words)
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TAIWAN POWER SAYS 4TH NUCLEAR POWER STATION AWAITS CONSTITUTIONAL RULING
Taiwan Power Co said it is awaiting a constitutional ruling on the
construction of the fourth nuclear power station. - (Screaming
Media - comtex, LENGTH=194 words)
--> NEWS SUBSCRIBERS can access this article for free!

______________________________________________________________________

FINANCIAL
______________________________________________________________________

AIG SETS UP $750M POWER INVESTMENT FUND.
American International Group, a New York multi-line insurer and
investment company, is putting together a $750 million fund that
will invest in power and infrastructure projects, say bankers
familiar with its plans. - (Power Finance & Risk, LENGTH=165 words)
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______________________________________________________________________

INTERNATIONAL
______________________________________________________________________

SOUTH KOREA'S NATIONAL ASSEMBLY URGED TO REVIEW POWER BILLS
South Korea's Commerce, Industry and Energy Ministry has urged the
Industry and Resources Committee of the National Assembly to
review  the power industry reform bills by Friday, saying
legislative approval could be delayed by partisan maneuvering. -
(Screaming Media - comtex, LENGTH=206 words)
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ENRON POWER PLANT BARGES MOVE TO EGBIN
The hope of having a steady and uninterrupted power supply in
Lagos would soon become a reality with today's planned movement of
the barges meant for the Lagos-Enron Independent Power Plant (IPP)
project from snake Island, where the barges were berthed since
their arrival last year, to Egbin, in the outskirts of Lagos, the
home of National Electric Power Authority (NEPA) thermal station.
- (Screaming Media - comtex, LENGTH=931 words)
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MALAWI, MOZAMBIQUE POWER DEAL ON COURSE
The deal in which the Electricity Corporation of Malawi (ESCOM) is
expected to tap electric power from its Mozambican counterpart,
EDM, is in its final stages. - (Screaming Media - comtex,
LENGTH=430 words)
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BRAZIL: ELECTRIC POWER TRANS & DISTR COMPANIES TO INVEST R$2BIL
The Brazilian electric power trans & distr companies will invest
R$2bil in R&D programs until 2005, according to a contract
executed between Aneel (Agencia Nacional de Energia Eletrica) and
CNPq (Conselho Nacional de Desenvolvimento Cientifico e
Tecnologico). - (Screaming Media - comtex, LENGTH=139 words)
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TACKLING SUDAN'S ELECTRICITY SUPPLY PROBLEM
The proposed Ministry for electricity, separate from the existing
Energy and Mining Ministry, is expected in January 2001, according
to Presidential Affairs Minister, Abdulraheem Mohammed Hussein. -
(Screaming Media - comtex, LENGTH=775 words)
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TURKMENISTAN BECOMES FIRST INVESTOR IN TALIBAN-HELD AFGHANISTAN
Turkmenistan has started work on a 2.5  million dollar power
project designed to supply electricity to Taliban-held northern
Afghanistan, official sources said Monday. - (AFP, LENGTH=193 words)
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CHINA TO SPEED UP CONSTRUCTION OF POWER TRANSMISSION PROJECT
China will speed up the development of  electric power resources
in the west region to prepare for a hugewest-to-east electricity
transmission project. - (Screaming Media - comtex, LENGTH=524 words)
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IBERDROLA REPORTEDLY STUDIES PURCHASE OF GERMANY'S ENVIA, VIAG GENERATION
Iberdrola SA is studying the acquisition of German power
distributor Envia and hydrolectric production assets from Viag AG,
the financial daily La Gaceta de los Negocios reported. -
(Screaming Media - comtex, LENGTH=58 words)
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SPAIN'S ELECTRICITY COS SEEK 3 PCT TARIFF INCREASE IN 2001
Spain's electricity companies are calling for a 3 pct rise in
electricity tariffs in 2001 to offset the negative impact on their
balance sheets of higher oil prices and interest rates, Expansion
reported. - (Screaming Media - comtex, LENGTH=153 words)
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POWERGEN TO REPAY 350 MLN STG OF BONDS FOR 490 MLN STG; 63 MLN STG
EXCEPTIONAL
PowerGen PLC said it is to repay 350 mln stg worth of sterling
bonds inherited with its acquisition of East Midlands Electricity
PLC in June 1998. - (Screaming Media - comtex, LENGTH=202 words)
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Stacy,
Chris has stated the the CP has agreed to pay and be liable for the GST. Any language handy that we can add on to the confirm (along with our Bankruptcy disclaimer of course) to cover this provision? Perhaps below or in the Pricing Language portion of the Confirmation?
Something:
Goods and Services Tax ("GST") LIABILITY: Contract Price does not include GST. Buyer is liable for and shall pay, or cause to be paid, or reimburse Seller if Seller has paid, all fees applicable to GST.

Sitara Deal #1199439

Thanks!!!
Cyndie

-----Original Message-----
From: Germany, Chris
Sent: Thursday, February 28, 2002 10:23 AM
To: Balfour-Flanagan, Cyndie
Subject: Deal 1199439 - sale of Dawn gas to MidAmerican

Per my discussion with Dave Evans - MidAmerican agreed to pay ENA for this gas and will not net this deal with any other deal.  We also discussed doing this deal under a GISB agreement but if we have some other post-bankruptcy agreement that we can trade under then that's fine with me.  You and Stacy can decide if we need to put any of this information on the confirm.

Stacy also has some comments below pertaining to the GST tax that should may need to be included in the confirm.  I did not discuss the GST tax, I felt fortunate that someone would do business with me.

-----Original Message-----
From: Germany, Chris
Sent: Thursday, February 28, 2002 8:53 AM
To: Mann, Kay; McMichael Jr., Ed; Concannon, Ruth; Parks, Joe
Cc: Price, Wade R.; Dickson, Stacy E.; Olinger, Kimberly S.; Polsky, Phil; Boyt, Eric; Richardson, Stacey
Subject: RE: Enbridge Consumers' Gas Park & Loan

Just sold 10,000 MMBtu per day at Dawn to MidAmerican Energy Company at $2.47 for March.  My contact at MidAmerican is Dave Evans (515-281-2698).  Dave said he was using Apr Nymx + $.05 to calculate his price.

-----Original Message-----
From: Germany, Chris
Sent: Wednesday, February 27, 2002 4:30 PM
To: Mann, Kay; McMichael Jr., Ed; Concannon, Ruth; Parks, Joe
Cc: Price, Wade R.; Dickson, Stacy E.; Olinger, Kimberly S.; Polsky, Phil; Boyt, Eric
Subject: RE: Enbridge Consumers' Gas Park & Loan

Update

Robin and I are waiting to hear back from all of the following

company                                                contact
Reliant Energy Services Inc.                    Sue Cozad  989-687-9246  low probability
Enbridge Gas Services Inc.                      Dan White  403-508-3184  new counterparty - low probability
MidAmerican Energy Company                Dave Evans  515-281-2698  good prospect
CMS Marketing, Services and Trading Company    Scott Biscoe  713-230-7286  low probability

El Paso      - no interest.

Left messages with
Duke Energy Marketing Ltd.                Steve Butler  403-297-9840
TXU Energy???                                    David Jones

-----Original Message-----
From: Dickson, Stacy E.
Sent: Wednesday, February 27, 2002 3:34 PM
To: Mann, Kay; Germany, Chris
Cc: Price, Wade R.
Subject: RE: Enbridge Consumers' Gas Park & Loan

The Goods and Services Tax (GST) in Canada is levied on sales of gas at a delivery point in Canada and where the gas will not be exported from Canada. The buyer pays the seller the amount of the  GST which is a per cent of the purchase price.  The seller, in turn, remits the amount of the GST to the appropriate Canadian authority.  In structuring the deal, be sure that you make it clear that the Contract Price does not include the GST.   If the gas it to be exported the buyer needs to notify that the gas is "zero-rated"  so it is not subject to the GST.

Wade - Do you know who in settlements is handling GST payments?  I hope we still have someone who can do that.

Please let me know if you have any other questions.

Stacy
x3-5705

-----Original Message-----
From: Mann, Kay
Sent: Tuesday, February 26, 2002 7:02 PM
To: Dickson, Stacy E.
Subject: FW: Enbridge Consumers' Gas Park & Loan

Do you know the answer to the tax question, or at least who to ask?

Thanks,

Kay

-----Original Message-----
From: Germany, Chris
Sent: Tue 2/26/2002 5:46 PM
To: Germany, Chris; McMichael Jr., Ed; Concannon, Ruth; Boyt, Eric; Garza, Maria; Polsky, Phil; Dicarlo, Louis; Olinger, Kimberly S.; Parks, Joe; Mann, Kay
Cc: Fowler, Kulvinder; Schumack, Sherlyn
Subject: Enbridge Consumers' Gas Park & Loan

Opps.  Didn't mean to hit send it just yet.  Much better now.

 -----Original Message-----
From:   Germany, Chris
Sent:   Tuesday, February 26, 2002 5:39 PM
To:     McMichael Jr., Ed; Concannon, Ruth; Boyt, Eric; Garza, Maria; Polsky, Phil; Dicarlo, Louis; Olinger, Kimberly S.; Parks, Joe; Mann, Kay

Cc:     Fowler, Kulvinder; Schumack, Sherlyn
Subject:        Enbridge Consumers' Gas Park & Loan

Today we discovered that ENA has 310,000 MMBtu parked with The Consumers' Gas Company Ltd. (an affiliate of Enbridge Inc.) at Dawn that needs to be withdrawn by March 31, 2002.    Dan White (403-508-3184) at Enbridge faxed me their confirmation.  According to Dan, this gas was parked in May and June 2001.  Per Enbridge's confirmation, "Customer shall pay Enbridge a fee of $.22 US/MMBtu...prorated over 12 months".  The confirmation makes it clear that March withdrawals are interruptible.  Dan didn't know if ENA has paid the fee but he is letting ENA take this gas for March!!!  So far have not been able to find a deal ticket in Sitara or tagg that applies to this deal.

Tomorrow, I will get bids from some of the companies ENA has done business with in the past at Dawn.  Before I sell the gas, I will

        1.  verify the creditworthiness of the company we are selling to
        2.  make sure the company we are selling to agrees to pay us for the gas and doesn't net this with some other item.

Kay, the point we are selling the gas at is Dawn which is in Canada.  Are there any special tax issues to address?

Any comments or questions?

Listed below are some of the companies ENA has done business with at Dawn

AEP Energy Services, Inc.
Aquila Canada Corp.
BP Canada Energy Company
Cargill Energy Trading Canada, Inc.
CMS Marketing, Services and Trading Company
CoEnergy Trading Company
Consumers Energy Company
Consumers Gas Company Ltd., The
Coral Energy Canada Inc.
Duke Energy Marketing Limited Partnership
Duke Energy Trading and Marketing, L.L.C.
Dynegy Canada Inc.
Dynegy Canada Marketing and Trade, a division of Dynegy Canada Inc.
El Paso Merchant Energy, L.P.
Engage Energy Canada L.P.
Nexen Marketing
PanCanadian Petroleum Limited
PG&E Energy Trading, Canada Corporation
PG&E Energy Trading-Gas Corporation
Phibro Inc.
Reliant Energy Services, Inc.
Sempra Energy Trading Corp.
TXU Energy Trading Canada Limited
WPS Energy Services, Inc.


Track the new system in the Atlantic plus other possible development
with position maps, satellite and radar images plus official advisories
or post your forecast on the message board: http://www.GoPBI.com/storm?tag=e_1027

000
WTNT34 KNHC 281453
TCPAT4
BULLETIN
TROPICAL DEPRESSION FOURTEEN ADVISORY NUMBER   5
NATIONAL WEATHER SERVICE MIAMI FL
10 AM EST SUN OCT 28 2001

...TROPICAL DEPRESSION OVER THE FAR EASTERN ATLANTIC OCEAN...NO
THREAT TO ANY LAND AREAS...

AT 10 AM EST...1500Z...THE CENTER OF TROPICAL DEPRESSION FOURTEEN
WAS LOCATED NEAR LATITUDE 27.6 NORTH...LONGITUDE  40.2 WEST OR
ABOUT 1010 MILES...1630 KM...SOUTHWEST OF LAJES IN THE AZORES.

THE DEPRESSION IS MOVING TOWARD THE WEST NEAR 12 MPH...19 KM/HR...
AND THIS MOTION IS EXPECTED TO CONTINUE FOR THE NEXT 24 HOURS.

MAXIMUM SUSTAINED WINDS ARE NEAR  35 MPH... 55 KM/HR...WITH HIGHER
GUSTS.	LITTLE CHANGE IN STRENGTH IS FORECAST DURING THE NEXT
24 HOURS.

ESTIMATED MINIMUM CENTRAL PRESSURE IS 1009 MB...29.80 INCHES.

REPEATING THE 10 AM EST POSITION...27.6 N... 40.2 W.  MOVEMENT
TOWARD...WEST NEAR 12 MPH.  MAXIMUM SUSTAINED
WINDS... 35 MPH.  MINIMUM CENTRAL PRESSURE...1009 MB.

THE NEXT ADVISORY WILL BE ISSUED BY THE NATIONAL
HURRICANE CENTER AT 4 PM EST.

FORECASTER STEWART

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Gregg,

I have a conference call from 2-4 tomorrow and I have a lunch meeting.  Other
than that I am open.

Stacy


Happy Thanksgiving everyone!!!

It is now time to sell Eurodollars (not the Euro  Currency). Sell June 2002, September 2002, December 2002, March 2003 or June  2003. We DO NOT think Mr. Greenspan is going to lower  interest rates any more. Morgan Stanley announced today that they believe the  employment situation is not going to be as bad as once thought. Consumer  confidence is coming back. Our predictions are that companies became "lean and  mean" and will show profits in the first quarter of 2002.  Check out the  chart and see if you come up with the same conclusion. You make the  call!
 Dec 2002  Eurodollar Chart  (Click for Chart  Update)

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Real Timers-

There appears to be some confusion about Real Time Tagging implementation.  I
have placed a copy of the WSCC procedures for implementation in each of your
mail boxes.  If you read these couple of pages, you will see that RT tagging
will be begin at 8:00am and end at 18:00 every WEEK day for the next month
(excluding any holidays).  That is not HE but the actual time.  So we will
not have to create ANY tags before 8am (that will be for trading hour 10) and
will not create any tags after 6pm (that is for trading hour 19).  The WSCC
also clearly states that the "no tag, no flow" policy will not begin until
they have given everyone 30 days notice.  There are several stages of
implemenation.  Everyone should look at this handout closely, as it will have
a huge direct impact on your work.  Although I have stressed the relative
ease of the first phase of RT tagging, I encourage everyone to do as much as
you can now.  The more effort you put into the process and understanding of
RT tagging now, the better off we will be later.  If we submit tags now, we
have the opportunity to learn exactly what the control areas, transmission
providers, and even the difficult PSE's want. If a counterparty does not want
to do a trade because they don't want to tag it, offer to do the tag for
them.  Make the deals happen.  Learn OATI.  Learn who is the control areas at
all tie points. If you have questions, ask me or one of the preschedulers.

Jesse