FERC Restructures California Power Market

Responding to a California power market gone haywire and teetering on the
brink of operational and financial disaster, FERC Friday issued a series of
remedial measures, virtually stripping the Cal-PX and Cal-ISO of their
control of the market and calling market stakeholders together to negotiate
bilateral forward contracts.

The Commission's main action, effective with the issuance of the order after
the Friday afternoon meeting, removes the requirement that California
utilities buy and sell exclusively through the California Power Exchange
(Cal-PX) and clears the way for bi-lateral contracts in the forward market.
FERC scheduled a settlement conference for Dec. 19 in Washington of parties
in the state's power market to negotiate those contracts.

"California does [not] have the benefit of a competitive market," Chairman
James Hoecker said, noting he had heard the state's power market called
"crisis by design." The design was "an unworkable state law, the product of
command and control that described in detail" exactly how the market should
function. "It wasn't competition," Hoecker said. "It's time to get serious
about saving the future of competitive markets...Competition did not fail in
principle at either the wholesale or retail level because it was never
well-conceived or tried. This version of competition was a disaster."

Commissioner William Massey defended the Federal Energy Regulatory
Commission's backing away from price caps. "Rather than cap the spot market
created by the state of California, the order would simply shrink its size
and diminish its influence." This will "give back participants' ability to
find the right price; This ability is what California has taken away from
that market."

Massey said the action would allow bilateral transactions, support forward
contracts, and allow the parties to manage risk. He urged the California
Public Utilities Commission to "step up to its responsibilities" in
supporting the FERC-directed activities.

Massey said the transfer of wealth in what he described as the "apocalypse"
in California "is absolutely staggering. The two largest utilities are
virtually bankrupt." He predicted a court, acting on accepted law and
precedent, would eventually rule the utilities are entitled to recover the
costs from customers, spreading the costs out over the entire state.

PG&E Corp. officials lambasted the Commission's actions, saying they left
California's electric customers "exposed to price gouging and future electric
supply reliability uncertainty."

"The California wholesale market is broken. And we are extremely disappointed
by the insufficiency of today's FERC order," PG&E officials said in a
statement. "The remedies outlined in the order do not go nearly far enough to
provide a solution that ensures reliability of the state's electric supply
and equally importantly, provides relief from future price gouging," the
Northern California utility company said. PG&E said it was particularly
disappointed that FERC did not call for retroactive price refunds for
California electric customers, as was requested by Gov. Gray Davis. The
utility also said it was "especially troubled" that FERC shortened the
timeframe for the electric price cap from the end of 2002 to April 2001,
"leaving customers exposed during the high-demand summer season."

Sen Dianne Feinstein, (D-CA), said FERC's action was unacceptable. "Rome is
burning, our utilities are close to bankruptcy, Californians are facing major
blackouts, and the Commission is fiddling."

Hoecker said similar competitive problems in states in the Pacific Northwest
have led to pleas from governors and others for regional price caps. But he
pointed to the fact that FERC is severely limited in what it can do in that
region. For one, it lacks authority over the Bonneville Power Authority and
other federal operations there, which make up a major portion of the market.
Further, there is no Northwest spot market that can be capped in the way caps
operate in California. There also would be problems with the many purchasers
who already had hedged or protected themselves in some way. Hoecker strongly
urged Energy Secretary Bill Richardson to convene a conference to try to
identify regional problems, and offered his help in this.

Commissioners Curt Hebert and Massey said they would issue concurring
opinions. Hoecker said he will submit a concurring opinion next week on items
such as RTOs that are beyond the scope of the order. The Commission's
actions, which went beyond recommendations it had made earlier (see Daily
GPI, Nov. 2), came at an emergency meeting following a week of continuous
power alerts and emergency measures to avoid rolling blackouts in the state.

The Commission's reforms call for:

 No retroactive refunds for California customers;

 Elimination of the requirement that California's three investor-owned
utilities --- Pacific Gas and Electric, San Diego Gas and Electric and
Southern California Edison --- sell all of their power into the Cal-PX, and
buy all of their power from the Cal-PX. This took effect Friday;

 Return 25,000 MW of generation to state regulation;

 Termination of the Cal-PX wholesale rate schedule effective the close of the
trading day on April 30, 2001;

 Create a benchmark price for wholesale bilateral contracts to assess prices
of five-year energy supply contracts;

 Create penalties for underscheduling power loads;

 A requirement that market participants schedule 95% of their load prior to
real time. Violators will incur penalties for scheduling deviations exceeding
the greater of 10 MW or 5% of their hourly load;

 Begin market monitoring and price mitigation for the Cal-ISO and PX spot
markets. FERC will hold a technical conference to develop a monitoring an
mitigation program. A proposed plan is to be submitted by March 1 so that the
measure can be in place by May 1;

 A single-priced auction to be used only for bids at or below $150/MW. Bids
above $150/MW will not set the market clearing price, although they will be
subject to FERC reporting requirements;

 Replacing the current Cal-ISO stakeholder governing board with a
non-stakeholder board. On Jan. 29, 2001, the Cal-ISO governing board members
will be required to turn over their decision-making power and operating
control to the management of the Cal-ISO. The members will be permitted to
function in an advisory capacity until the new board is selected. FERC to
discuss with California representatives a process for selecting new Cal-ISO
board members; and

 Modify interconnection procedures. The ISO and utilities must file
generation interconnection procedures.

------------------------------------------------------------------------------
--


Some more reading for you
Date: Wed, 06 Jun 2001 16:18:14 -0500
From: "John Brunini" <JBrunini@brunini.com>
To: "Wilson Montjoy" <wmontjoy@brunini.com>
Subject: Enron Memo
Mime-Version: 1.0
Content-Type: multipart/mixed; boundary="=_184230CA.7F1E7237"

Attached is the Enron memo you requested.

 - contract issues.mem


---------------------- Forwarded by Louise Kitchen/HOU/ECT on 20/07/2000
11:23 ---------------------------

Nikki Slade
20/07/2000 07:03

To: Louise Kitchen/HOU/ECT@ECT, David Forster/Corp/Enron@Enron
cc:

Subject: IPE Query

Louise & Dave,

I haven't received anything from the woman at the IPE but I went to legal and
got a copy of the latest Regulations.  I think the attached covers want you
want to know but I'm not sure so please let me know if you require any
further information.

Don't forget I'm not in tomorrow or next week.

Speak to you later
Snickie


I think they would give you a gas card.

>  -----Original Message-----
> From: 	Cooper, Sean
> Sent:	Monday, October 29, 2001 8:49 AM
> To:	EPME Trading & Operations
> Subject:	FW: Enron Said To Be Takeover Target, Shell Tipped As
> Possible Bidder
>
>
>
>  -----Original Message-----
> From: 	Sawyer, Kyle
> Sent:	Monday, October 29, 2001 7:43 AM
> Subject:	Enron Said To Be Takeover Target, Shell Tipped As Possible
> Bidder
>
> Enron Said To Be Takeover Target, Shell Tipped As Possible Bidder
> Oct. 28 (Power Finance & Risk)
> Enron, which 12 months ago was the darling of the energy markets, has
> become increasingly vulnerable to a takeover bid following the recent
> collapse of its share price, according to bankers and analysts. Royal
> Dutch/Shell is one likely bidder, they say, noting that Enron's relatively
> modest market capitalization--down to $11.5 billion late last week from a
> high of more than $55 billion--means that Shell and other potential
> acquirers would have little trouble digesting it whole. Cerris Tavinor, a
> spokeswoman for Shell, declined to comment. Calls to Enron were not
> returned.
> An M&A banker in London says the Anglo-Dutch oil giant was rumored to have
> approached Enron unsuccessfully in August. An analyst in New York adds
> Shell has courted Enron for more than three years. "[Shell]'s downstream
> power business InterGen has not been as successful as it and its partner
> Bechtel hoped, especially in the U.S., and this would be a great fit," he
> continues.
> While many energy concerns would love to get their hands on Enron's hugely
> successful gas and electricity trading business, its forays into water,
> broadband and pulp and paper, might prove less attractive. Bidders may
> want to cherry pick the best parts of the business, reasons Peter Fusaro,
> president of Global Change Associates in New York. Still, he says "there
> is a distinct possibility that it could be bought outright."
> Another obstacle to any sale is believed to be CEO Kenneth Lay's
> unwillingness to sell the company at such a low stock price. Still, Lay
> has already given up the executive reins once, and at 61, he would
> probably be willing to sell if the premium was significantly rich, argues
> one New York based banker. Another adds that Lay will probably wait for
> the share price to recover before he would even consider talking to
> bidders.
> Bankers argue that potential bidders would be unwilling to ride roughshod
> over Lay's wishes through a hostile bid as most of Enron's value is tied
> up in intellectual capital. Hostile bidders run the risk that senior staff
> will jump ship, argues a London banker.
> Another obstacle to any bid is concern that Enron may have additional
> skeletons in its financial closet. Last week's stock market selloff was
> prompted by Enron unexpectedly writing off some $1.2 billion in equity
> resulting from the termination of contracts with a special purpose vehicle
> linked to Peter Fastow, cfo. Analysts fear that Enron may have to
> terminate similar contracts over the next quarters.
>

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************


Please take me off your email list.

Don.baughman@enron.com


Dear Jeff,

Sorry I had to get  off the phone so abruptly.

I am glad to hear that you are still interested in the Butterfield for
Enron. It would be an amazing piece for the collection and a unique early
piece for $200,000.00 seems much more appealing than a recent bronze
multiple for $225,000.00. This is an amazing piece though I am afraid that
the email image is probably not very good.

The following are the details:
ARTIST: Deborah Butterfield
TITLE: Goldie
DATE: 1980
MEDIUM: wood, iron, steel, plastic, wire, etc.
SIZE: 77" x 101" x 41" (life size)

Just so you know, the Butterfield is in a crate in SF.

Yours truly,
Michael Rosenfeld


I will be 40 years old this Saturday, and was thinking about having some friends around for pinochle and soda crackers.....No, just kidding. I'll actually be turning a different age which I'll disclose to you if you come to my party and partake in some fine draft beer and fajitas and HOT CHICKS!

Festivities begin around 7 p.m. Bring something to grill - we'll provide the fixings for fajitas. Directions are as follows......

I-84 East to 33rd Ave. exit
Left off the exit
Straight through the light at Broadway & 33rd
Left on Brazee (directly across the street from Grant Park)

	My house is directly ahead on the corner of 32nd Place and Brazee. Tall, white with green trim. Guarded by two mean cats.
	Call if you get lost - 503-288-6546.

See you on Saturday!
Kate


Dan,

I am forwarding you the summary of the information for EOL that we can
provide. I shall talk to RISK magazine to settle the
copyright issues.

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/25/2000
05:17 PM ---------------------------

	From:  Mike A Roberts                           05/25/2000 02:56 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: EOL

Vince -

As a follow-up to this afternoon's telephone conversation, the following four
categories of information were discussed with Dan Diamond for inclusion in
the Research Group's contribution to EOL content:

 1. Published Articles authored by Research Group members
  a. mostly Risk Magazine stuff
  b. copyright issues

 2. Research Intelligence Articles
  a. backlog of around 50 articles
  b. needs screening prior to release
  c. review system in place for future articles
  d. weekly

 3. Technical Analysis
  a. cross commodity analyses
  b. intranet material ready for internet
  c. generic informative content available

 4. Streaming Video of Weather
  a. daily 2-3 minutes capsule
  b. toned-down verson of whats given to traders
  c. energy-focused

- -  Mike


Butler, Janet would like to recall the message, "Commission Agenda".


Houston Ballet gives free performances of Copp,lia
at Miller Outdoor Theatre in Hermann Park
8:00 p.m. Friday May 11, Saturday May 12, & Sunday May 13, 2001
sponsored by AZURIX and ENRON

Considered the great comedy of classical ballet, Copp,lia  tells the story of
a doll so enchantingly lifelike that she mesmerizes an entire village,
captures the heart of a young swain named Franz and inspires the eccentric
toymaker Dr. Copp,lius to attempt to transform her into a living, breathing
human being.

AZURIX and ENRON are Corporate Sponsors for Houston Ballet's Miller Theatre
performances, helping to present these free performances of Copp,lia to the
people of Houston.  Houston Ballet has a limited number of tickets for the
seated area each night for employees of AZURIX and ENRON.  These tickets are
available on a first-come, first-served basis by calling William at
713-535-3235 no later than 5 PM today .  (Please be aware that all unoccupied
seats are released at 10 minutes before curtain.)

Other, free, general public tickets for the seated area (max 4 per person)
are available at the Miller Theatre 11:30 a.m. - 1:00 p.m. on the day of
performance; for more information call 713-284-8351 for the Miller Theatre
ticket information line.  Tickets are not required for the lawn area.

About Coppelia
Copp,lia was first performed on May 25, 1870 at the Th,atre Imp,rial de
L'Op,ra, featuring choreography by Arthur Saint-L,on and music by L,o
Delibes. The work maintains a special place in the history of dance, serving
as a kind of bridge from the glory of the French Romantic ballet in the early
nineteenth century to the masterpieces of the Russian Imperial Theater at the
turn of the century. Writing in The International Dictionary of Ballet,
critic Karen Dacko analyzes the unique characteristics of the piece as
follows: "Copp,lia owes its longevity to its inspired, very danceable score.
But the ballet is also remarkable for its perennial appeal and for its
historical significance as Romanticism's grand finale and classical ballet's
prologue."
Copp,lia first entered Houston Ballet' repertoire in October 1974, in a
staging by Frederic Franklin (who also performed the role of Dr. Copp,lius),
and featuring scenery by Peter Farmer. In November 1979, former Royal Ballet
ballerina Anne Heaton re-staged the work for the company. When Houston Ballet
premiered its new production of the work in March 1992 featuring breathtaking
d,cor by Desmond Heeley, Carl Cunningham of The Houston Post wrote, "It would
be hard to imagine anything to cap the joyous, gentle, and glorious looking
new production of Copp,lia the splendidly prepared company of dancers and
musicians put forth Thursday evening on Wortham Center's Brown Theater
stage."    (The Houston Post, March 21, 1992)
Heeley's designs for Copp,lia never fail to enchant, most notably in the
second-act depiction of Dr. Copp,lius's workshop. The sampling of dolls on
display pay homage to the era when automatons, or mechanical toys, were the
rage in Europe -- and to Heeley's inexhaustible creativity. Among the
eye-popping toys featured in  the workshop are a huge astrologer with a
pointed hat and a robe covered in shooting stars and moons; a strongman with
a handlebar mustache and barbells; Puss n Boots; an acrobat hanging from a
trapeze holding the man in the moon; and a small ballerina dancing on the
back of a goat. In the first act, the vibrant reds, golds, and oranges of the
costumes worn by the peasants in the village conjure up a wonderfully
picturesque vision of nineteenth century Bavaria.


Marcelo:

I have no further comments.  Will you please send the final blackline.
Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 02/23/2001 04:11 PM -----

	Sara Shackleton
	02/23/2001 10:34 AM

		 To: Marcelo_Cosma@ml.com
		 cc:
		 Subject: Repo comments

Marcelo:

We need to eliminate Appendix B altogether.  We have previously agreed to
eliminate substitution and FAS 125 does not require substitution.  I have
only one more issue to resolve.

Will you revise again?

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 02/23/2001 10:29 AM -----

	Sara Shackleton
	02/22/2001 01:48 PM

		 To: Marcelo_Cosma@ml.com
		 cc:
		 Subject: Repo comments

Marcelo:

Attached are my comments to your initial draft of Appendix C to the Canadian
form of repo agreement.  Please note the following:

(1)  You attached "Annex II" to the end of Appendix C.  That annex came from
the US repo with Merrill.  The information should actually be incorporated
into "Appendix A" of your repo agreement.

(2)  I am waiting to hear internally regarding substitution and a default
issue.

(3)  Please let me know if we have any issues on the Appendix C (and add a
reference to Appendix C at the end of your printed form).

We should be ready to execute shortly.

Thanks.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


Do you want me to attend the meeting at 11:00 in 32C2?

Rod Hayslett
EB4054
713-853-6178


Title: US/Mexico Trade Cross-border Energy Interconnections at the Forefront?
URL(s):

http://www20.cera.com/eprofile?u=35&m=2643;

http://www20.cera.com/eprofile?u=35&m=2644;

***********************************************************************

INCREASING POLITICAL AND MARKET PRESSURES TO ERASE THE US/MEXICO ENERGY BORDER

The policy focus in the administrations of both Vicente Fox in Mexico and
George W. Bush in the United States, combined with the high-profile energy
crisis in California and record-level gas prices, has pushed energy trade and
interconnections to the forefront of the political agenda. Cross-border energy
flows will likely be a prominent theme between the two countries in the months
ahead. However, critical technical, regulatory, and financing constraints must
be overcome before these energy flows reach the potential indicated by current
market fundamentals.

Key issues affecting US-Mexico cross-border energy flows include
* asymmetrical regulatory and market structures

* power grid synchronization issues

* high investment needs in a changing regulatory environment

* uncertainty of long-term regional supply-demand imbalances

**end**

Follow above URL for complete CERA Private Report (18 printed pages).

E-mail Category: Private Report
CERA Knowledge Area(s): Mexico Gas & Power, Western Energy

***********************************************************************

***********************************************************************
CERA's Autumn 2001 Roundtable event dates and agendas
are now available at http://www20.cera.com/event
***********************************************************************

To make changes to your cera.com profile go to:
http://www20.cera.com/client/updateaccount

Forgot your username and password? Go to:
http://www20.cera.com/client/forgot

This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.
Terms of Use: http://www20.cera.com/tos
Questions/Comments: webmaster@cera.com
Copyright 2001. Cambridge Energy Research Associates


Per our conversation yesterday, we would like to open the "Other Agreements"
information in the Financial Trading Agreement Database to members of the
Interest Rate and Currency Desk.  If possible, we would also like them to see
the comments screen.  The people who will need access are Laurel Adams,
George Garcia, Sheila Glover, Kelly Templeton, Teresa Brogan.

As usual, we would like to get them access ASAP.  Can you keep me posted on
their access.  Thanks!


plz call when u can. thx, jeff 415.782.7822


Greg Terhune
1032 Mound St
Cincinnati, OH 45203
ROBnGREG@yahoo.com

To Mr. Ken Lay,

I'm writing to urge you to donate the millions of dollars you made from selling Enron stock before the company declared bankruptcy to funds, such as Enron Employee Transition Fund and REACH, that benefit the company's employees, who lost their retirement savings, and provide relief to low-income consumers in California, who can't afford to pay their energy bills.  Enron and you made millions out of the pocketbooks of California consumers and from the efforts of your employees.

Indeed, while you netted well over a $100 million, many of Enron's employees were financially devastated when the company declared bankruptcy and their retirement plans were wiped out.  And Enron made an astronomical profit during the California energy crisis last year.  As a result, there are thousands of consumers who are unable to pay their basic energy bills and the largest utility in the state is bankrupt.

The New York Times reported that you sold $101 million worth of Enron stock while aggressively urging the company's employees to keep buying it.  Please donate this money to the funds set up to help repair the lives of those Americans hurt by Enron's underhanded dealings.

Sincerely,

Greg Terhune


Watch the news tomorrow!  Big Day!  Call me

 -----Original Message-----
From: 	KHortongolf@aol.com@ENRON
Sent:	Wednesday, November 07, 2001 11:47 AM
To:	Horton, Stanley
Subject:	who's buying

if all the mutual funds are selling off then whos buying up all the shares??
Takeover co's.? Seven dollars a share is unbelievable !!!! Talk to you later
K


(See attached file: hpl0711.xls)

 - hpl0711.xls


To: Tim Belden/HOU/ECT@ECT, Greg Wolfe@ECT, Mike Swerzbin/HOU/ECT@ECT,
Christopher F Calger/PDX/ECT@ECT, Dave Parquet, Richard Sanders,
mday@gmssr.com, gfergus@brobeck.com, Christian Yoder/HOU/ECT@ECT,
steve.c.hall@enron.com, Chris H Foster/HOU/ECT@ECT, Stewart
Rosman/HOU/ECT@ECT, John M Forney/HOU/ECT@ECT, Joe Hartsoe@Enron, Sarah
Novosel/Corp/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Steve
Kean, Richard Shapiro, James D Steffes/NA/Enron@Enron, Donna
Fulton/Corp/Enron@ENRON, Mona L Petrochko/NA/Enron@Enron, James E
Keller/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Harry Kingerski/NA/Enron@Enron,
Dennis Benevides, Jeff Richter/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Tim
Heizenrader/PDX/ECT@ECT, Chris Stokley/HOU/ECT@ECT, Murray P
O'Neil/HOU/ECT@ECT, David Aamodt@Gateway, Jay Dudley, Neil
Bresnan/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Kathryn
Corbally/Corp/Enron@ENRON
cc:
From: Mary Hain/HOU/ECT
Date: 11/10/2000 04:00:40 PM
Subject: Fwd: DJ - Calif PUC Unlikely To Order Refunds From Pwr Generators

Please forward this to anyone I have forgotten.  Thanks.

DJ Calif PUC Unlikely To Order Refunds From Pwr Generators
Copyright , 2000 Dow Jones & Company, Inc.

(This article was originally published Thursday)

     LOS ANGELES (Dow Jones)--The California Public Utilities Commission
likely won't order generators to refund billions of dollars in windfall
profits from last summer's wholesale power price spikes to utilities and
customers, commissioners told Dow Jones Newswires Thursday.

     A Republican commissioner said the PUC knows generators are manipulating
the wholesale power market in California but the commission doesn't have the
"expertise in-house to figure out who it is and how it's being done."

     "Even if we could force refunds, it would take five to 10 years in court
to decide if generators should refund money," the commissioner said. "I don't
think the state is willing to spend the money or the time."

     In addition, the commission is nowhere near deciding whether Edison
International (EIX) unit Southern California Edison and PG&E Corp. (PCG) unit
Pacific Gas & Electric can pass on a combined $5 billion in debt to their
ratepayers, the commissioner said.

     A decision won't likely be made until mid-2001, the commissioner added.

     Only PUC President Loretta Lynch and Commissioner Carl Wood support
having generators refund windfall profits to utilities and ratepayers. The
commission's investigation, one of two ongoing probes into the state's
troubled wholesale power market, has been unsuccessful in finding evidence
that would force generators to refund billions of dollars, according to
documents obtained Thursday by Dow Jones Newswires.

     Last week, federal regulators determined generators didn't manipulate
the market. But they did find flaws in the state's market structure and said
rates were "unjust and unreasonable."

     The state's Independent System Operator and Power Exchange have also
concluded they have no evidence to prove generators manipulated the market in
order to drive up wholesale power prices.

     The commissioner said the PUC doesn't support the utilities' efforts to
pass on $5 billion in wholesale power costs to ratepayers.

     The commissioner said "if it came down to deciding tomorrow, the
utilities would be left holding the bag."

     PG&E and SoCal Edison pay about 16 cents a kilowatt-hour for wholesale
power. But the utilities charge their customers far less under a
state-mandated rate freeze.

     As reported earlier Thursday, SoCal Edison President and Chief Executive
Officer Stephen Frank said the utility's inability to immediately recover
more than $2 billion in debt from its ratepayers may force the company to lay
off employees and reduce major capital spending.

     PG&E filed a lawsuit in federal court Wednesday asking a judge to allow
the utility to pass on $3 billion in debt to its customers.

     -By Jason Leopold, Dow Jones Newswires; 323-658-3874;
mailto:jason.leopold@dowjones.com
     (END) Dow Jones Newswires 10-11-00


Attached is the proposed form of Confidentiality Agreement with Platt's.


Please get with Fred to get something working.

Thanks,

ckm
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/26/2001 06:17
PM ---------------------------

Fred Mitro@ECT
02/23/2001 02:01 PM
To: Kay Mann/Corp/Enron@Enron
cc: Ben Jacoby/HOU/ECT@ECT, Kathleen Carnahan/NA/Enron@Enron, Sheila
Tweed/HOU/ECT@ECT

Subject: CA - Onondaga

Kay:

Ben and I are working on a deal that involves the monetization of a Cash Flow
Interest which ENA currently holds in Onondaga Cogeneration L.P. (an 80 MW
combined cycle plant in NY state)

We would like to begin discussions next week with parties interested in
purchasing ENA's interest in OCLP.  Please prepare a form CA and forward to
Ben and I so that we may forward it to the interested counterparties.  We
also need one draft CA prepared for the following counterparty:

 Trust Company of the West

Sheila has inititated the process of assigning the Cash Flow Interest from
ENA into an LLC.

Call me if you wish to discuss.

Fred


Gary,

Here is a photograph of a similar house.  The dimensions would be 56'Wide X
41' Deep for the living area.  In addition there will be a 6' deep two story
porch across the entire back and 30' across the front.  A modification to the
front will be the addition of a gable across 25' on the left side.  The
living area will be brought forward under this gable to be flush with the
front porch.

I don't have my floor plan with me at work today, but will bring in tomorrow
and fax you a copy.

Phillip Allen
713-853-7041
pallen@enron.com

---------------------- Forwarded by Phillip K Allen/HOU/ECT on 04/25/2001
12:51 PM ---------------------------

Hunter S Shively
03/26/2001 10:01 AM
To: phillip.k.allen@enron.com
cc:
Subject:


Good Morning -

Hope your are doing well in all this rainy weather.  I wanted to ask you a question and your opinion of the odds of me being placed if I go into the redeployment program?  I got my review back and it is much better than it has been in a long time.  I guess I am just concerned that if I don't make a move now, year end might not be as favorable for me.  Rumor has it that the other clerk that I work with has found another job and will be leaving on the 14th of Sept.  I have been caught in such a vicious cycle so long that I just don't know what else to do.  If you have time call me or email me.  I just want to know what you think.

dd


Please, put it on my schedule.

Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/23/2001
05:21 PM ---------------------------

Jennifer Burns

01/23/2001 04:27 PM

To: Phillip K Allen/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Michael W
Bradley/HOU/ECT@ECT, Jennifer Fraser/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT,
Adam Gross/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, John J
Lavorato/Corp/Enron@Enron, Kevin McGowan/Corp/Enron@ENRON, Vince J
Kaminski/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT,
Fletcher J Sturm/HOU/ECT@ECT, Hunter S Shively/HOU/ECT@ECT, Bill
White/NA/Enron@Enron, Gary Hickerson/HOU/ECT@ECT, Jeffrey A
Shankman/HOU/ECT@ECT
cc: Ina Rangel/HOU/ECT@ECT, Judy Zoch/NA/Enron@ENRON, Gloria
Solis/HOU/ECT@ECT, Helen Marie Taylor/HOU/ECT@ECT, Tamara Jae
Black/HOU/ECT@ECT, Kimberly Hillis/HOU/ECT@ect, Shirley Crenshaw/HOU/ECT@ECT,
Angie Collins/HOU/ECT@ECT, Airam Arteaga/HOU/ECT@ECT
Subject: TRADER'S ROUNDTABLE MEETING

There will be a Trader's Roundtable meeting every Tuesday at 4:00PM in
EB3321.

First Message that was sent out:
As mentioned during the fourth quarter, Gary and I would like to begin
regular meetings of our Trader's Roundtable.  The ideas generated from this
group should be longer term trading opportunities for Enron covering the
markets we manage.  In addition, this forum will provide for cross commodity
education, insight into many areas of Enron's businesses, and promote
aggressive ideas.

Each week, we'll summarize commodity trading activity, and provide an open
forum for discussion.  Your input is valuable, and we've limited this group
to our most experienced traders, and would appreciate regular participation.
Our first meeting will be Tuesday, January 16 at 4:00pm in EB3321.


Hey, are you at work today?


NOTE:  YOU WILL RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.

You have been selected to participate in the Year End 2000 Performance
Management process by providing meaningful feedback on specific employee(s).
Your feedback plays an important role in the process, and your participation
is critical to the success of Enron's Performance Management goals.

To complete requests for feedback, access PEP at http://pep.corp.enron.com
and select Perform Review under Performance Review Services.  You may begin
providing feedback immediately and are requested to have all feedback forms
completed by Friday, November 17, 2000.

If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:

Houston: 1.713.853.4777, Option 4
London:  44.207.783.4040, Option 4
Email: perfmgmt@enron.com

Thank you for your participation in this important process.

The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN."   Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.

Review Group: ENRON
Feedback Due Date: Nov 17, 2000

Employee Name                   Supervisor Name                 Date Selected
-------------                   ---------------                 -------------
BRAWNER, SANDRA F               SCOTT M NEAL                    Nov 12, 2000
DE PAOLIS, TAMMI                SCOTT M NEAL                    Nov 12, 2000
JENKINS II, RICHARD L           SCOTT M NEAL                    Nov 12, 2000
JOHNSON, LUCHAS                 HENRY H QUIGLEY                 Nov 07, 2000
KAISER, JARED L                 SCOTT M NEAL                    Nov 12, 2000
KHANNA, SANJEEV K               ALBERT E MCMICHAEL JR           Nov 01, 2000
MCKAY, BRADLEY T                SCOTT M NEAL                    Nov 12, 2000
NEAL, SCOTT M                   JOHN J LAVORATO                 Nov 12, 2000
QUIGLEY, HENRY H                JEFFREY C GOSSETT               Oct 27, 2000
RING, ANDREA K                  SCOTT M NEAL                    Nov 12, 2000


Guys, this is the real deal - we need to be ahead of this!!!

How are we making out on acquiring brownfield sites and formulating a
strategy?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 07/10/2000
11:25 PM ---------------------------

Daniel Reck
07/10/2000 06:03 PM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Dow Jones Gas vs. Coal feature

FYI

=DJ Pricey Natural Gas May Alter New US Power Plant Options

  HOUSTON (Dow Jones)--High natural gas prices could slow the stampede to
build
as much as 140,000 megawatts of new electric generation across the U.S. and
give
new coal technology the boost it needs to compete economically with gas in
the
future.
  While market observers say the recent level of the price of natural gas -
above $4.00 per million British thermal unit since late May - may not be
sustainable, many expect gas to remain above $3.00/MMBtu for the foreseeable
future.
  The jump in gas prices is blamed on a number of factors, from increased
demand
to fuel new power plants to stagnant U.S. gas production and a lack of
available
gas reserves in storage.
  Pricier gas could create a variety of effects on future electric
generation:
from damping interest in building some new gas-fired plants to improving
economic prospects for investment to upgrade or build new coal-fired plants.

  Current gas prices are off the chart when compared to existing forecasts
from
the Energy Information Institute, part of the U.S. Department of Energy. EIA
projects the average U.S. wellhead price of gas will only rise to
$2.81/MMBtu by
2020, up from an average of $1.96/MMBtu in 1998, a jump of 43%. EIA predicts
coal prices will fall by 28% during the same period.
  Continued high natural gas prices may mean some proposed combined-cycle
gas
plants are never built, predicts a Midwest utility coal buyer. "It's awfully
hard for a combined-cycle gas plant to compete with coal. No way they can do
it
at these prices."
  However, a recent report from Raymond James and Associates Inc., concluded
that gas-fired generation will still be economical this summer even if gas
prices climb above $7.00/MMBtu because of high power prices in most regional
US
wholesale markets.

  Future Gas Supply Questioned; Coal Won't 'Go Away'

  "The gas turbine generation trend is not over, not by a long shot," said
the
Raymond James report. "Gas turbines use gas more efficiently than the
nation's
fleet of older, conventional boiler-driven generators that are fired by gas.
The
efficiency gains enabled by gas turbine generation will be more valuable as
gas
prices rise."
  While gas-fired plants are much cheaper and quicker to build than
traditional
coal-fired plants, many industry observers doubt that U.S. gas supply can
grow
to meet future demand, expected to reach 30 trillion cubic feet or more per
year
by 2020.
  "Coal will not go away," said Steve Bergstrom, president of Dynegy Inc.
(DYN).
"The coal industry will figure it out. There are too many jobs involved and
it's
too cheap."
  Bergstrom expects the rapidly expanding appetite for electricity across
the
U.S., which is growing 3% per year, will require additional generation from
many
fuel sources.
  "You'll see gas will be used in most of the additional generation for the
next
four to five years," he predicted. "In the latter half of the decade, you'll
see
other alternatives, like coal, come into play. Technology will create
changes."
  Even some independent power producers who are rushing to build gas-fired
power
plants in the U.S. admit the recent price of gas, if prolonged, is a threat.

  Bob Kelly, Calpine Corp.'s (CPN) senior vice president, said his firm's
fleet
of 40,000 MW of highly efficient natural gas plants to be in place by 2004
will
be profitable even with gas at $4.00/MMBtu, but he expects owners of
coal-fired
plants to make additional capital investment to keep those plants running as
well.
  "If gas stays $4.00 forever, you'll see more coal plants. It will make
sense
to put scrubbers on," said Kelly.

  Southern Co. Evaluating Coal-to-Gas Technology

  Gas has to compete on price with other available fuel, agreed Bob Carter,
chairman of Panda Energy International. Carter told Dow Jones Newswires late
last month that the idea of new coal-fired generation is "very possible."
  In fact, the jump in gas prices has given a boost to Southern Co.'s (SO)
effort to build a first-of-its-kind coal plant that seeks to be cost and
environmentally competitive with natural gas, said Charles H. Goodman,
Southern
Co.'s vice president for research and environmental affairs.
  Southern, with major DOE funding, recently announced a major advance in
its
effort to utilize coal in a more efficient and less polluting fashion to
generate electricity.
  The new process combines use of a "transport reactor," a device based on
existing technology used to "crack" crude oil into lighter products, to turn
coal into a gas which is then burned in a combustion turbine much like
natural
gas.
  In its gaseous form, coal can be cleaned of many of its pollutant-forming
impurities such as sulfur dioxide, nitrogen oxides and particulate matter,
Goodman said.
  The key to the technology is the ability to burn the coal gas in a highly
efficient gas turbine rather than burning it to make steam to turn a
turbine, he
added.
  The new technology can produce 100 megawatts of power with two-thirds less
coal than a traditional boiler-type coal generator, said Goodman.
  And higher natural gas prices could move this technology closer to a
reality.
  "The urgency of getting on with this (coal technology) is the forecast for
gas
prices," said Goodman. "At $2.50/MMBtu, it's a bigger stretch for this coal
plant (to compete with gas) than at $3.00 or $3.50/MMBtu."

  New Coal Technology May Also Address Emissions

  Goodman said Southern hopes to make a decision in the second half of 2001
on
whether to build a commercial power plant with the coal gasification
technology
now being tested at Southern's Power Systems Development Facility in
Wilsonville, Ala.
  If gas prices stay high or remain volatile, Goodman said that will
influence
the timing, size and other variables associated with building the first
full-size plant to burn coal gas in this manner.
  "The $64 question is the price of gas," said Goodman. If gas is cheap and
plentiful, utilities will have a harder time investing in coal technology,
he
said.
  But because the U.S. has abundant coal resources, Goodman predicts the
coal-to-gas technology could eventually be used not only for new plants but
to
repower existing coal plants in a way that addresses air quality concern.
  Other partners in the Power Systems Development Facility include the
Electric
Power Research Institute, Foster Wheeler Corp. (FWC), Halliburton's Kellogg
Brown & Root (HAL), Peabody Group, Combustion Power Corp. and
Siemens-Westinghouse Power.

  -By Eileen O'Grady, Dow Jones Newswires; 713-547-9213;
eileen.ogrady@dowjones.com <mailto:eileen.ogrady@dowjones.com>

  (END) DOW JONES NEWS  07-10-00

  04:22 PM

- - 04 22 PM EDT 07-10-00
:TICKER: CPN DYN FWC HAL SO
:SUBJECT: CNHV EUTL OILO OILE CA GA NJ TX COMM INDG
Copyright (c) 2000 Dow Jones and Company, Inc.
Received by NewsEDGE/LAN: 7/10/00 3:27 PM


I'm leaving for Houston at noon today, but could participate by phone.  Just
let me know.

	Andrew Wu@EES
	10/25/2000 08:19 AM

		 To: Susan J Mara/SFO/EES@EES, Jeff Dasovich/NA/Enron@Enron, Mona L
Petrochko/NA/Enron@Enron
		 cc: Edwin Essandoh/HOU/EES@EES, Tim Carter/HOU/EES@EES
		 Subject: Re: CTC definition

Sue, Mona, and Dasovich--

Would one of you be available for about 30 mins or so tomorrow p.m. (Thurs)
to square away this issue (maybe around 3 or 4 or so)?  My recollection of
our original contract language was to capture all of the post-transition
period CTCs as set forth in AB1890, so maybe we just need to broaden or
clarify what we mean by "residual CTCs".  I'll actually be at 101 Cal
starting in the p.m. tomorrow, so this could work out pretty well.
Otherwise, I'll be in SR on Friday and then in SoCal next week but back in
SFO on next Weds for a two day LSI seminar (Dasovich you're speaking at it?)
Thurs and Fri so we could discuss then too.

Sorry for the short notice and I hope I'll at least be able to say hi to
everyone tomorrow.

Andy

---------------------- Forwarded by Andrew Wu/HOU/EES on 10/25/2000 08:14 AM
---------------------------

Edwin Essandoh
10/24/2000 02:41 PM
To: Tim Carter/HOU/EES@EES, Andrew Wu/HOU/EES@EES
cc:
Subject: Re: CTC definition

Sorry Guys, should have cc'd you.

Ed
---------------------- Forwarded by Edwin Essandoh/HOU/EES on 10/24/2000
02:40 PM ---------------------------

Edwin Essandoh
10/24/2000 02:27 PM
To: Roger Yang/SFO/EES@EES, Susan J Mara/SFO/EES@EES, Jeff
Dasovich/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron
cc:
Subject: Re: CTC definition

Roger,
Thanks for the input.  It does need some refinement.  For that matter, do you
consider the definition of "CTC charges" adequate?  Andy Wu is going to be in
San Francisco on Thursday, and has agreed to discuss the language with Susan,
Jeff and/or Mona in Gov't Affairs.

Ed

Roger Yang
10/24/2000 01:19 PM
To: Edwin Essandoh/HOU/EES@EES
cc: Susan J Mara/SFO/EES@EES, Jeff Dasovich/NA/Enron@Enron, Mona Petrochko
Subject: Re: Contract for Gart Sports

Attached is a version of AB1890.  I refer you to pages 31 through 36 which
discusses Sections 367 through 368.

Residual CTCs may have two connotations.  The first connotation is the type
of CTC recovery during the rate freeze period.  For example, the California
IOUs bill customers based on frozen rates.  From those frozen rates, delivery
and procurement costs are subtracted.  What is left over residually is the
recovery of CTCs.  The interpretation that you are implementing is the CTCs
that are recovered after the frozen rate period.  Due to these two possible
interpretations, I believe that either the term "residual CTCs" needs to be
defined or a better definition of the "Pre-Rolloff Period" and "Post-Rolloff
Period."

After reading the cites that I referred to above, if you believe the
definition incorporates the guidelines implemented through Sections 367 and
368, then I will be comfortable with the current language.  My concern was
that the CPUC may adopt changes to the recovery plan per Section 368 that
would disadvantage ESPs and DA customers, and only benefit and protect
Standard Offer customers.  Pursuant to Section 368, the IOUs implemented cost
recovery plans to recover costs that meet the criteria in Section 367.  I am
worried that customers may be confused by plans that may be implemented in a
the Post-Rolloff periods that may look like the original cost recovery plans
(i.e. SDG&E's rate cap).

You can contact Susan Mara, Jeff Dasovich, or Mona Petrochko in Government
Affairs for better clarification if needed.

Edwin Essandoh
10/24/2000 09:21 AM
To: Tim Carter/HOU/EES@EES
cc: Roger Yang/SFO/EES@EES
Subject: Re: Contract for Gart Sports

The reference to "but not including any extension pursuant to Section
3(g)(ii)" should have been deleted from the contract.   It was in a previous
contract which provided for an extension period, but is not applicable here.

Tim:  We could forward corrected page to customer, but I agree that it may
not be necessary as it does not add anything but may unnecessarily alarm
Customer.

Roger:   Can you suggest a definition you'd be comfortable with, which
references the code section  - I have not seen the code, but your point is
valid (although I was under the impression "residual CTC's" is understood in
the industry, and the second issue (as raisesd by Tim previously) would be to
maek sure an amendment to AB 1890 does not extend the Pre-Rolloff Period.

My initial suggestion would be along the lines of:

    &Pre-Rolloff Period8 shall mean, with respect to each Facility, the
period of time commencing with the
    Effective Date and ending on the last day the UDC for such Facility is
authorized to collect CTCs (other than residual CTCs
    it remains authorized to collect after said date) in its service
territory under AB1890 (as in effect on the Effective Date), but in      any
event not later than March 2002.

Ed

	Enron Energy Services

	From:  Tim Carter                           10/24/2000 10:15 AM
	Phone No: tel:  713-853-5496
  fax:  713-646-3284
  pgr:  888-620-2350

To: Edwin Essandoh/HOU/EES@EES
cc:
Subject: Contract for Gart Sports

Ed, please see comments below regarding the Gart Sports contract.  How should
we handle?
---------------------- Forwarded by Tim Carter/HOU/EES on 10/24/2000 10:15 AM
---------------------------

Roger Yang
10/23/2000 04:19 PM
To: Tim Carter/HOU/EES@EES
cc: Scott Stoness/HOU/EES@EES
Subject: Re: DASH for Gart Sports

Tim,

Thanks for forwarding me the contract.  In Section 3(a), there is a
definition for "Post-Rolloff Period" which states, "shall mean, with respect
to each Facility, the period of time commencing with the day after the last
day of the Pre-Rolloff Period.....but not including any extension period
pursuant to Section 3(g)(ii).  The problem is that I cannot find Section
3(g)(i) in the contract.

Further, the definition of "Pre-Rolloff Period" which states, "...ending on
the last day the UDC for such Facility is authorized to collect CTCs (but
excluding residual CTCs) in its service territory under AB1890," is
ambiguous.  There are two possible solutions.  One possible solution is to
define the term "residual CTCs".  Another solution is to redraft the language
to be more specific referencing the PU Codes Section 367 and 368 enacted by
AB1890.

Roger

	Enron Energy Services

	From:  Tim Carter                           10/19/2000 02:21 PM
	Phone No: tel:  713-853-5496
  fax:  713-646-3284
  pgr:  888-620-2350

To: Roger Yang/SFO/EES@EES
cc: Scott Stoness/HOU/EES@EES
Subject: Re: DASH for Gart Sports

You are correct regarding the impact to the mark if the transition period
ends differently than we expect.

The contract specifies that the transition period ends in accordance with
AB1890, as noted in the attatched Gart contract.  We have, however,
instructed the attorney to change the contract template to also specify that
under no circumstances is the transition period to be later than 3/2002.  I
have not received a version of that contract.

Roger Yang
10/19/2000 04:10 PM
To: Tim Carter/HOU/EES@EES
cc: Scott Stoness/HOU/EES@EES
Subject: Re: DASH for Gart Sports

I like this deal structure because it provides a hedge for our current book
in California.  Correct me if I am wrong, but if the end of the transition
period ends earlier than priced, then our mark for this deal should increase
because we are providing the discount off the frozen bundled price for a
shorter period than expected.  Conversely, if the rate freeze ends later than
how we priced it, then the mark for this deal will decrease because we will
have provided a discount off of the frozen tariff for a period longer than we
had priced.  This impact on the mark is converse to the current risk profile
of our California portfolio.

My main concern is the contract language on how the transition period is
defined.  It is important that this language is crafted to leave no loose
ends.  Can you please send me a copy of the clauses that define the end of
the transition period, which is a critical date because the delivery risks
hinge on that definition.  I just want to do some preventative maintenance,
such that we do not enter contract dispute over this issue in the future.
However, we may proceed signing this contract if necessary.  I would just
like to follow up on the issue for future deals if it is too late for this
deal.  As a matter of fact, I would not even try to change the contract
language on this deal because the customer may become overly concern.

I recommend that Scott signs the DASH for Gart Sports for now.

Roger

	Enron Energy Services

	From:  Tim Carter                           10/19/2000 08:16 AM
	Phone No: tel:  713-853-5496
  fax:  713-646-3284
  pgr:  888-620-2350

To: Roger Yang/SFO/EES@EES
cc:
Subject: DASH for Gart Sports

Roger, I think Valerie tried to fax this to you.  Here's an electronic copy.
Take a look, if you have any questions, please call me.

Thanks,
Tim


Dave / Chris:

I wanted to give you both a heads up that the Northwestern (NW) GE 7EA deal
should close today or tomorrow, and advise you of a related earnings
recognition issue.

The deal that we are on the path of closing is consistent with the executed
DASH and works as follows: at the signing of the letter agreement, NW pays
ENA $3 million, with another $5 million paid on July 15 (the Turbine
Deposits). The balance of $40 million is paid by NW at such time as the
assignment of the turbine contract is made to the LLC, and ENA sells the LLC
member interests to NW. The outside date for this to occur, via a notice
provided by NW, is Sept. 1. The $8 million paid by NW, and the obligation to
purchase the member interests is a firm commitment guaranteed by Northwestern
Corp. The only condition to NW's obligation to purchase the member interests
is that ENA effect the assignment of the turbine contract into the LLC. If
ENA does not effect the assignment, then NW would also be entitled to a
return of the $8 million in Turbine Deposits.

This structure is the same we followed for the Intergen deal which closed in
January, except the Intergen deal did not have an extended period between the
date of execution of the letter agreement, and the turbine contract
assignment. In the Intergen deal, ENA did not receive any payments prior to
the assignment and sale of the member interests.

The earnings issue raised by accounting (Herman Manis) is that,
notwithstanding NW's firm commitment to purchase, ENA has two (albeit very
minor) performance obligations. First, ENA has to obtain an Acknowledgement
and Consent from GE prior to or concurrent with exercising its purchase
option with E Next and assigning the turbine contract to the LLC  (we have
had to do this for every turbine transaction). Second, ENA has to perform
under its agreement with E Next in that if there is an event of default prior
to the time we effect the assignment, we theoretically could loose our
purchase option right with E Next and be unable to perform under our
agreement with NW. We have suggested to Herman that both of these items are
perfunctory in nature, and that all income from this transaction should be
recognized upon execution of the letter agreement, We have further stated
that we could obtain a letter from GE solving the first issue, but there is
no solution to the second issue. Herman advised us that to the extent we
receive a letter from GE on the first issue, and can convince Arthur Anderson
that the second item is perfunctory in nature, we could recognize all income
upon execution of the letter agreement (prior to the actual assignment of the
turbine contract to the LLC). He did not think we had a good case relative to
the second issue, and is reluctant to approach Arthur Anderson.

Thus, based on the above, in a worst case we may not be able to recognize any
income form this transaction until Q3. While we think we have a shot at
getting accounting to change their position, we do not think that this
outcome should change our position on the deal as the underlying
profitability is significant. The deal is also consistent with the approved
DASH. We therefore recommend that we proceed with the execution of the letter
agreement, and then decide as to how we should proceed on the income
recognition issue depending on your views regarding income being recognized
in Q2 vs. Q3.

Please advise me if you are OK with us closing on the deal as scheduled, or
if you have any other questions.

Regards,

Ben


We have received all of the money from the spot sales for Tenaska IV in
October 2000, except for the Tenaska IV sale and the $0.04 fee.

Megan


Tom, I'm struggling to keep from becoming a triple digit.  All the best.  Jim

Tom McKeever
12/02/2000 12:18 PM
To: James Derrick/Corp/Enron@ENRON
cc:

Subject: Re: Organisational Change

Thanks for the kind words. Are you a single digit yet? Regards,  Tom


Thank you for using our automated self service password reset option.

The user id and password in SAP (Apollo Production and HR Production), eHRonline, iBuyit and iPayit are all synchronized.  When you reset your password in eHRonline, it automatically synchronizes the password in the other systems.

Please follow the steps to reset and synchronize your passwords.

1.        Go to ehronline.enron.com
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Join Jeff Skilling on eSpeak at ethink.enron.com on Tuesday, May 16 at 10:30
a.m. Houston time.  Jeff, Enron president and COO, will be talking about
Enron's international strategy and how we plan to optimize our international
assets and investments.

Are you at a remote location or can't make the event?  Go into eSpeak now and
pre-submit your question(s) for Jeff to answer during the scheduled event.
Immediately following the session, the transcript will be posted into the
eSpeak archives where you can retrieve it at any time ) simply click on the
"Archives" button on the bottom right hand side of the screen.

eThink: Invest Your Mind


Please find attached  a document outlining the guidelines and a timeline for
closing out the Winter 1999-2000 Installed Capacity Market.

Any questions regarding this material can be addressed to Timothy Duffy
(518-862-9876) or Art Desell (518-356-6248).

Note that the LSE and Supplier Certification Forms for the Winter 1999-2000
Capability Period will be available on the NYISO web-site by December 8th.

(See attached file: Winter 1999-2000 ICAP Guidelines.pdf)

 - Winter 1999-2000 ICAP Guidelines.pdf


---------------------- Forwarded by John J Lavorato/CAL/ECT on 12/20/99 07:34
AM ---------------------------

hargat@tdsecurities.com on 12/17/99 06:46:27 AM
To: John J Lavorato/CAL/ECT@ECT
cc: jonesd2@tdsecurities.com
Subject: collar structure

John,
Doug asked me to send you the amended model for the proposed collar structure.
You will see that is is essentially a larger version of the previous model, as
it covers the full calender year of 2000.  There are therefore 48 options
which
results in daily volume being reduced to 42K GJ/Day.  There is an amortization
schedule to the far right which calculates the implied interest rate on the
deal.  Call me if you have any questions about the model or changes you would
like to see.

Todd Hargarten
416-982-2286

(See attached file: Client.xls)

 - Client.xls


I played the last four days:
barton creek in Austin
ColoVista in Bastrop (near Austin)
Fish Creek
Fish Creek yesterday.

I am hitting the ball alot better and starting to make some putts.   I wont be around this weekend,   as I am vacationing down in South Padre Island for the next few days.
We need to take that boat out so I can show you around Galveston.    Fishing is good and you can pull up to certain restaraunts on the water.
Let me know when you wanna go.

JMF

 -----Original Message-----
From: 	"Jacobucci, Scott" <Scott.Jacobucci@ElPaso.com>@ENRON [mailto:IMCEANOTES-+22Jacobucci+2C+20Scott+22+20+3CScott+2EJacobucci+40ElPaso+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, August 20, 2001 2:13 PM
To:	Forney, John M.
Subject:

John,  I am available to play golf this Sunday if you are thinking about
playing.  Also, I live next to #3 on TPC and we can just walk out after 6pm
and play holes for nothing.  I may walk over and play 9 one night this week.

Scott Jacobucci, P.E.
Project Engineer
El Paso Merchant Energy
office(713)420-1287 cell(713) 594-7924

******************************************************************
This email and any files transmitted with it from the ElPaso
Corporation are confidential and intended solely for the
use of the individual or entity to whom they are addressed.
If you have received this email in error please notify the
sender.
******************************************************************


i think we can get this girl for the party.  we will just have to tell her
that we are big shooters with the rainman suite.

?
 - salsa1.mpe


---------------------- Forwarded by Maria Sandoval/HOU/ECT on 11/22/2000
08:34 AM ---------------------------

Yolanda Sandoval <Yolanda.Sandoval@Halliburton.com> on 11/22/2000 08:15:18 AM
To:
cc:
Subject: FW: Ice Cream for the Soul

Yolanda Sandoval
KBR Legal Dept.
*713-753-5986
 *713-753-7626
* yolanda.sandoval@halliburton.com

This email, including any attached files, may contain confidential and
privileged information 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 information
for the recipient), please contact the sender by reply email and delete all
copies of this message.  Thank you.

> Ice Cream for the Soul
>  author unknown
>
> Last week I took my children to a restaurant. My six-year-old son asked if
> he  could say grace.  As we bowed our heads he said, "God is good. God  is
> great.  Thank you for the food, and I would even thank you more if Mom
> gets us ice  cream for dessert. And Liberty and justice for all! Amen!"
>
> Along with the laughter from the other customers nearby, I heard a woman
> remark, "That's what's wrong with this country. Kids today don't even know
> how to pray. Asking God for ice-cream!  Why, I never!"
>
> Hearing this, my son burst into tears and asked me, "Did I do it wrong? Is
> God mad at me?"
>
> As I held him and assured him that he had done a terrific job and God was
> certainly not mad at him, an elderly gentleman approached the table.  He
> winked at my son and said, "I happen to know that God thought that was a
> great prayer."
>
> "Really?" my son asked.
>
> "Cross my heart."  Then in theatrical whisper, he added (indicating the
> woman whose remark had started this whole thing), "Too bad  she never asks
> God for ice cream.  A little ice cream is good for the soul sometimes."
>
> Naturally, I bought my kid's ice cream at the end of the meal. My son
> stared  at it for a moment and then did something I will remember the rest
> of my  life.  He picked up his sundae and, without a word, walked over and
> placed it  in front of the woman.  With a big smile he told her,  "Here,
> this is for you.  Ice cream is good for the soul sometimes and my soul is
> good already."
>
> The End
>
> I loved the story, and I hope you like it too.
>
> Please keep it moving.
>
> God Bless.
>


FYI.
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/14/2000 12:19
PM ---------------------------
From: Cheryl Lipshutz@ECT on 11/14/2000 11:59 AM
To: Roseann Engeldorf/Corp/Enron@ENRON
cc: Ben Jacoby/HOU/ECT@ECT, Brett R Wiggs/SA/Enron@Enron,
fporto@andrews-kurth.com, Gina Karathanos/Corp/Enron@Enron, Jordan
Mintz/HOU/ECT@ECT, Kay Mann/Corp/Enron@Enron, Lisa
Alfaro/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Lisa
Bills/Corp/Enron@ENRON, Mary Cilia/NA/Enron@Enron, Mary
Kimball/NA/Enron@Enron, Matthew F Gockerman/HOU/ECT@ECT, "Mark Thurber"
<MTHURBER@skadden.com>, Nancy Muchmore/NA/Enron@Enron, Peter N
Anderson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, pseve@andrews-kurth.com,
Sheila Tweed/HOU/ECT@ECT, Tammy Brennig/NA/Enron@Enron, "ROB TAYLOR"
<TAYLR@andrews-kurth.com>

Subject: Re: Important - Second Closing - LM6000s

Please keep me updated as well on the expected timing for bringing the LM
6000s into the new So American structure.  It needs to be done soon in order
to attract the club banks by year end.  Thanks!

	Roseann Engeldorf@ENRON
	11/14/2000 11:54 AM

		 To: Brett R Wiggs/SA/Enron@Enron, Ben Jacoby/HOU/ECT@ECT
		 cc: "ROB TAYLOR" <TAYLR@andrews-kurth.com>, Lisa Bills/Corp/Enron@ENRON, Kay
Mann/Corp/Enron@Enron, Lisa Alfaro/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tammy
Brennig/NA/Enron@Enron, Mary Kimball/NA/Enron@Enron, Mary
Cilia/NA/Enron@Enron, Cheryl Lipshutz/HOU/ECT@ECT, Peter N
Anderson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, "Mark Thurber"
<MTHURBER@skadden.com>, Jordan Mintz/HOU/ECT@ECT, fporto@andrews-kurth.com,
pseve@andrews-kurth.com, Gina Karathanos/Corp/Enron@Enron, Kay
Mann/Corp/Enron@Enron, Sheila Tweed/HOU/ECT@ECT, Mary Kimball/NA/Enron@Enron,
Matthew F Gockerman/HOU/ECT@ECT, Nancy Muchmore/NA/Enron@Enron
		 Subject: Important - Second Closing - LM6000s

Ben and Brett -

I do not know your target timing to move the LMs; however, you need to be
aware that funding from the bank structure to pay for them requires that we
go through a full second closing process.  It may take several days to pull
together all the documents and information needed for this closing - we will
have to deliver Brazil counsel opinions, Cayman counsel opinions, another A&K
opinion and deliver a multitude of other corporate and security documents too
boring to list here.

So - as soon as:

1)  the break-out contract is ready;

2) GE is on board; and

3) ESA, ENA and WLB have signed off on the purchase option transfer
document(s) (which must include Matt,  Mary Kimball and Mary Cilia
sign-off),

we can finalize the "second closing" docs for the bank - we have already
started on them, but it will take a focused effort to finish them and receive
all signatures necessary.

Ben and Brett must let Rob Taylor of A&K - at 713-220-4436 know when the
above items are complete - he will need to coordinate with the team to push
for final docs.

Lisa Alfaro - will you please coordinate with Rob Taylor at the above number
and Frederico Porto at A&K in Dallas at 214-659-4447 on the Brazil-based
issues?

I also ask that Ben and Brett be available to the deal team to consult and
answer questions as necessary.

I am going to be out of town for a week on another year-end deal and will
check my voice mails regularly.   My assistant, Melba Trevino at 835-7664
will have my contact details.

Please call Rob, me or Tammy (345-3870) with any questions.

Rose


The Air Quality Bureau conducted an agency inspection of C/S's 7 Mountainair
and 8 Corona.  There were no deficiencies or items of concern identified by
the inspector.

Facility records were copied from the Air Quality Bureas files in Santa Fe
for the P-1 C/S.

The excess emissions semiannual report as required under NSPS for turbines
was submitted for the Bloomfield C/S.

A custom fuel monitoring schedule  reqeust was submitted to Region VI EPA for
the NNG Plains turbine C/S.

Emissions fees were submitted for Laguna C/S.

A meeting will be held with the vice president of development for the Rocky
Mountain Elk Foundation to begin preparation of a MOU between Enron and the
Foundation.  The meeting will be held in Albuq. during the 1st or 3rd week in
August.


The estate has been requested to report on the current status & going forward responsibility for marking of curves  -  specifically regarding completeness, timeliness and responsible personnel.  PwC has compiled a preliminary report based on their meetings with you and/or your teams.  Please attend tomorrow's meeting to confirm the preliminary report data and answer additional questions.


Thanks,  That does the trick.


FYI
----- Forwarded by Mark Taylor/HOU/ECT on 02/21/2001 07:19 PM -----

	Scott Marra <SMARRA@isda.org>
	02/21/2001 11:19 AM

		 To: US REGULATORY COMMITTEE <USREGCOMM@isda.org>
		 cc:
		 Subject:

On behalf of Stacy Carey, please refer to the attached.

 <<ISDAHR333.pdf>>
Scott Marra
Administrator for Policy & Media Relations
ISDA
600 Fifth Avenue
Rockefeller Center - 27th floor
New York, NY 10020
Phone: (212) 332-2578
Fax: (212) 332-1212
Email: smarra@isda.org

 - ISDAHR333.pdf


I have asked my paralegal, Linda Guinn, to respond to your inquiry. Her
direct # is 713-853-6104.

	"JOANNE BENNETT" <joanne.bennett@blakes.com>
	09/20/2000 12:44 PM

		 To: <richard.b.sanders@enron.com>
		 cc: <dan.fournier@blakes.com>
		 Subject: Outstanding Invoices with Frontier Economics

Mr. Sanders:

We have received a telephone call from Kevin of Frontier Economics regarding
outstanding invoices they currently have with respect to Project Stanley.

Kevin indicated that there are three invoices now issued and outstanding (the
earliest dated back to July) and he is wondering when they might expect
payment of the invoices.

Can you give me any idea as to when the accounts will be paid?  I believe
Frontier Economics was looking for payment by direct wire if possible.

Thanks,
Joanne Bennett
Assistant to Dan Fournier
Blake, Cassels & Graydon LLP
3500, 855 2nd Street S.W.
Calgary, Alberta
T2P 4J8
Tel: 403-260-9637
Fax: 403-260-9700
E-mail: joanne.bennett@blakes.com

This e-mail communication is confidential and legally privileged.  If you are
not the intended recipient, please notify me at the telephone number shown
above or by return e-mail and delete this communication and any copy
immediately.  Thank you.


I am out of the office Monday morning ( Nov. 26th). For urgent matters please contact Scott Tackett at (713) 345-7429. Thank you!


how late are you working?  i have a reservation for 8:30.


Welcome back to the Body Shop!
January 22, 2001 is re-opening day, and we look forward to seeing you again
on a regular basis!  Please find your assigned locker and combination below.
If you have any problems using your new locker, please ask one of the Body
Shop staff for assistance.

Locker# - 529
Combination - 1-35-31


The functional PRC for Accounting and Investor Relations (Directors and
above) will be held on Friday December 1 8:30 -  ???? in the Dezavala Room at
the Doubletreet Hotel.  Attending this meeting should be the Vice Presidents
and above in these groups.

Assistants:  Please forward this message to all Vice Presidents within your
group.

The PRC meeting to be held on Tuesday, December 5 is Corporate and not
functional (the business unit CAOs do not need to attend this meeting).  More
information and clarification of the exact group will follow later today.


I liked this one!

 -----Original Message-----
From: 	"Steve Kroetz (IBF)" <SKroetz@norse.com>@ENRON [mailto:IMCEANOTES-+22Steve+20Kroetz+20+28IBF+29+22+20+3CSKroetz+40norse+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Thursday, August 23, 2001 1:11 PM
To:	'Montovano, Steve@enron'
Subject:	FW:

-----Original Message-----
From: Beth_Lehman@freddiemac.com [mailto:Beth_Lehman@freddiemac.com]
Sent: Tuesday, August 21, 2001 9:21 AM
To: John_Delaney@freddiemac.com; William_Erwin@freddiemac.com;
mblack83@hotmail.com; donna_d'amato@jackmorton.com; skroetz@norse.com;
tracy.kipfstuhl@us.nestle.com; ctoma@promistar.com
Subject:

Fresh from her shower, a woman stands in front of the mirror reviewing her
figure, complaining to her husband that her breasts are too small.

Instead of his standard response of reassuring her that wasn't the case,
her
husband uncharacteristically comes up with a suggestion......

"If you want your breasts to grow, then every day take a piece of toilet
paper and rub it between your breasts for a few seconds."

Willing to try anything, the wife fetches a piece of toilet paper, and
stands
in front of the mirror, rubbing it between her breasts.

"How long will this take?" she asks.

"Oh, they'll grow larger over a period of years," he replies.

The wife stops and looks at him inquisitively. "Why do you think rubbing a
piece of toilet paper between my breasts every day will make them grow over
the years?"

"Worked for your ass, didn't it?"

He lived, and with a great deal of therapy, he may even walk again.


Just use mids on the day they were pulled.

 -----Original Message-----
From: 	Collonges, Remi
Sent:	Wednesday, May 23, 2001 10:47 AM
To:	Lavorato, John
Cc:	Joe Kishkill/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT; Orlando Gonzalez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject:	ENA trades

John,

As per our conversation yesterday, I suggest that we put the two trades that you closed with us in January (25 MW baseload swap, 1 year, Feb. 01 to Jan 02) back on the MTM books and give you simultaneously the opportunity to close these positions.  Our prices for  June 01 - Jan 02 swap rates are as follows:

Argentina power $18.50 - $20.40 per MWh (this is a bid-offer spread in US dollars; you are currently long)
Brazil power R$425 - R$475 per MWh (this is a bid-offer spread in reais; you are currently short);

We are also making sure that there will be no adverse tax impact for Enron.

Please let me know if you agree to close these positions.

Remi


Please note the time of the party is 6 p.m. to 10 p.m.

To view your invitation click the web address below or copy and paste it into your web browser:
http://www.sendomatic.com/servlets/v?e=61930&u=745789

If you are having trouble viewing the above web address, visit
http://www.sendomatic.com/servlets/l?u=jay.reitmeyer@enron.com

Hope you have fun!

--

P.S. If you'd like to send your own personalized invitations or announcements go to http://www.sendomatic.com


Message sent from the pjm-customer-info mailing list at pjm-customer-info@majordomo.pjm.com:

> In the late afternoon on Thursday, December 20th, PJM experienced problems
> with its email system.  This caused us to take the email system out of service
> for a brief period of time.  During the recovery process from this outage, a
> number of older emails were inadvertently re-sent to their recipients along
> with new emails.
>
PJM has received a number of inquiries as to whether PJM is currently infected
with a computer virus.  We are not.  PJM maintains a very high level of
vigilance against external threats to our computing environment and works
diligently to maintain the integrity of our networks and systems.

We understand that resending duplicate emails is both annoying and inconvenient
to our customers, and we apologize. We appreciate your patience.

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FYI - Please see additional details for tomorrow's meeting.

Thanks!
Amy

 -----Original Message-----
From: 	Davies, Neil
Sent:	Tuesday, January 22, 2002 5:37 PM
To:	Oxley, David; Kitchen, Louise; Fitzpatrick, Amy; Slone, Jeanie; Curless, Amanda; Weatherstone, Mary; Clyatt, Julie; Beck, Sally
Cc:	Donoghue, Sean ; Woods, Steve
Subject:	FW: Welcome to UBS meeting tommorrow 10.15 am @ the Houstonian - URGENT REQUIRES IMMEDIATE ACTION
Importance:	High

An important meeting  will be held tommorrow for all employees who

1) have accepted offers
2) intend to accept offers ( to the best of their knowledge) but who have issues that need to be resolved

All employees in these categories should attend

Buses will be provided for those who do not have their own transport and will pick up from the south side of the north building - please assemble in the Java plaza area from 8.30am  to 9.30am ( last bus @ 9.30 am )

The meeting will last until 1pm approximately and will be presented by senior managers from UBS on the firm and it's strategy.

There will be breakfast available at the Hotel from 9am to 10am and there will be sandwiches afterwards.

If travelling independently please make sure you leave sufficient time to park (it will be very busy there ) and get to the Grand ballroom

Employees need to bring their id's or drivers licence with them to gain access to the meeting

I'm sorry for the short notice on this - please call out to anyone who should be attending who will not get this message in time

Neil Daves


UGI ships the gas for CES.  Normally we sell CES this gas at ELA.  It looks
like it will be at CGLF Mainline for the next few months.  Doug will verify
this information and let us know.

jporte1@columbiaenergygroup.com on 04/21/2000 11:54:33 AM
To: " - *Scott.Goodell@enron.com" <Scott.Goodell@enron.com>
cc: " - *Bizik, Kim" <knovsek@columbiaenergygroup.com>, " -
*Chris.Germany@enron.com" <Chris.Germany@enron.com>, " - *Kinney, Doug"
<BLOCK@columbiaenergygroup.com>
Subject: Capacity for UGI

Got an fax from UGI saying that the capacity they release for our customers
will be on Gulf/Tco from May thru Sep. I believe this is a change from TETCO.
Call me if you need a copy of the fax.


Souad,

We can use the Deemed ISDA format I already sent you.  And the guarantees
(when we get them) should work for allfinancial transactions.

	Veronica Espinoza@ENRON
	08/29/2000 10:27 AM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Souad Mahmassani/Corp/Enron@ENRON
		 Subject: Gas Natural Mexico

Tana,

Another deal was executed on 8/25/00 with  Gas Natural Mexico (#NW9602).  Can
we have this deal roll up under the pending Deemed ISDA and Gty that their
parent was to issue ENA (Use Credit Previously Provided)?

Give me a call at x6-6002 if you have any questions.

Thanks,

Veronica

---------------------- Forwarded by Veronica Espinoza/Corp/Enron on
08/29/2000 10:20 AM ---------------------------

From:  Veronica Espinoza
       08/24/2000 04:13 PM

To: Brent Hendry/NA/Enron@Enron, Susan Bailey/HOU/ECT@ECT, Samantha
Boyd/NA/Enron@Enron
cc: Agustin Perez/NA/Enron@ENRON, Jaime Williams/NA/Enron@ENRON

Subject: Deemed ISDA Requests--Mexico

Legal Team,

Attached below are the Credit Worksheets for the Hysla S.A. de C.V. and Gas
Natural Mexico S.A. de C.V. for the trades executed yesterday.  Please
forward Agustin Perez a copy once they are prepared.

Agustin--

Pleae forward Legal a contact name, address and phone/fax number for the
counteparts so that they can include in the documents.

Thanks again,

Veronica Espinoza


Please be aware.

Subject: Western Area Power Administration

Please note that the below-listed WAPA offices, which have previously been
known under several names in our global counterparty database, will now be
known as the names in red.

WAPA-Colorado River Storage Project Manangement Center (CRSP)  (This office
is in Salt Lake City and was formerly known as Salt Lake City Area or Upper
Colorado)

WAPA-Desert Southwest Region (This office is in Phoenix and was formerly know
as Phoenix Area, or Lower Colorado)

WAPA-Rocky Mountain Region  (This office is in Loveland, Colorado and was
formerly known as Loveland Area, Loveland-Fort Collins Area, and Lower
Missouri)

WAPA-Upper Great Plains Region (This office is in Billings, MT, and was
formerly known as Billings Area, Upper Missouri, and Pick-Sloan Missouri)


-----Original Message-----
From: 	Graves, Jerry
Sent:	Tuesday, February 12, 2002 3:32 PM
To:	'"Mathis, Charles R." <Charles.Mathis@ElPaso.com <mailto:Charles.Mathis@ElPaso.com>>@ENRON'; Charles Goodding; Chuck Thompson - PNM; Corina Veloz; Darrell Schoolcraft; David Campbell; Francis Roemer; Frank Gallegos; Greg Kardos; Johnny Hunt; Lane Ayers; Ron Matthews; Stahl, Danny - Williams; Steve Flaim; Terry Hardman; 'clark.w.mower@williams.com'
Cc:	Graves, Jerry
Subject:	 Houston Outage  Meeting

Hey guys here is some more information for you to digest. If everyone would like to stay at the same hotel we can get a block of rooms for a cheaper rate (about $150), I just need the names of those people, or you can make you own plans. Hotels further away from the downtown area are a little cheaper, but it might be worth the price not to fight the traffic on Thursday morning. All three of these hotels are within walking distance to the office. (One to two blocks)

Downtown Hotels
Hyatt  713-654-1234
Rate - $220 per night
Doubletree  713 -759-0202
Rate - $245
Crown Plaza  713-739-8800
Rate - $194

Itenaray
March 6
Golf outting - 1:00 Tee Time
We will meet at Memorial Park Golf - Fee is about $30  713- 862-4033 (10 min. from downtown) I will send map on how to get there.
Dinner - At 6:00 pm at Pappadeaux on 2410 Richmond 713-527-9137. I will send map on how to get there.

March 7
Outage meeting - 8:00 AM until? - It will be in the Gas Control Center 42C1
(I can meet everyone in the down stairs lobby about 7:30) My ext. is 58923.
There will be coffee and a breakfast snack.

These are the people I have heard back from so far.
Charlie Mathis / EL Paso       Golf & Dinner
Corina Veloz / EL Paso          Dinner
David Campbell / EL Paso    Golf & Dinner
Greg Kardos / Burlington        Golf & Dinner
Pat Bent / Burlington               Golf & Dinner
Clark Mower / Williams          Golf & Dinner
Darrell schoolcraft / TW          Golf & Dinner
Ron Matthews / TW                 Golf & Dinner
Jerry Graves (Myself) / TW     Golf & Dinner

           Please let me know ASAP if anyone else plans to attend the meeting or festivities.
           I would appreciate it very much.
           Thank you
           Jerry Graves   Sr. Specialist Gas Control
           Transwestern / NNG 713-345-8923


[IMAGE]
 Battle your friends for glory in Planters Crunch Time -- the first-ever football game played via e-mail! Featuring graphic, play-by-play action, Planters Crunch Time is fast, fun, and FREE! Kickoff Now!   Remember the NFL Hall of Famer's, Superbowl Champs and your favorite Teams or Players. Save 10%  off NFL Memorabilia @ MVP.com. Enter coupon code HIGH10PC  at checkout to receive this exclusive offer. Ends 10/23/01.  Attention Fantasy Fans!  Subscribe to The Sporting News  now for a low $.99 per issue AND get a FREE Stainless Steel Thermo-Bottle! HURRY!    Brought to you by   Sponsorship Bar You are receiving these e-reports because you have signed up for CBS SportsLine.com Fantasy Football.  To customize, reschedule, or turn off these reports please  click here    Player Updates NFL Reports  [IMAGE]Latest NFL Player News  Ricky Watters , RB SEA - The Replacements Updated 10/23/01 According to the Tacoma News Tribune, Seahawks Head Coach Mike Holmgren says that Watters will return to the starting lineup as soon as he's healthy, which could be another month or longer. "We'll cross that bridge when we come to it," Holmgren said. "I would be surprised if I didn't insert Ricky back into the lineup. He was our best player when he got hurt. Shaun (Alexander) has come in and played well. But I would suspect that when Ricky can play, he'll play again." If you have the roster room, it would be a good idea to stash both backs on your team to ensure you're safe if Watters takes the job back from Alexander down th! e ! stretch.  Trent Dilfer , QB SEA - Free Agent Updated 10/23/01 Dilfer was unable to practice on Monday due to a groin injury. He has lost the starting QB job to Matt Hasselbeck, and shouldn't be on any Fantasy rosters at this point.  Matt Hasselbeck , QB SEA - Lake Austin Mighty Mullets Updated 10/23/01 Hasselbeck will be the Seahawks' starting quarterback for Sunday's game against Miami, according to the Seattle Post-Intelligencer. He replaces Trent Dilfer, who stood in for Hasselbeck as he was sidelined with a pulled groin. This isn't a very favorable matchu! p ! for Hasselbeck from a Fantasy perspective, so don't use him this week.  Wayne Chrebet , WR NYJ - South Park Cows Updated 10/23/01 The Jets have listed Chrebet as questionable for next Sunday's game at Carolina. He will have an MRI on Tuesday to determine the extent of the concussion he suffered Sunday against the Rams.  Dedric Ward , WR MIA - Free Agent Updated 10/23/01 Ward missed Monday's practice due to a foot injury. He is expected to miss Sunday's game at Seattle, and isn't a useful Fantasy player at this point in the season.  Lamar Smith , RB MIA - Beer Gut Boys Updated 10/23/01 Smith did not practice Monday due to an ankle injury. He is still expected to play Sunday in Seattle, so don't be afraid to use him this week.  Marvin Minnis , WR KC - Team T-Bone Updated 10/23/01 Chiefs Head Coach Dick Vermail said Monday that Minnis might start ahead of Chris Thomas in Thursday's game against Indianapolis. We don't recommend you use either receiver despite the fact that the Colts' secondary is hardly imposing. Neither player is going to be a clear-cut starter this week.  Jerome Pathon , WR IND - High Shrivel Fac! to! r Updated 10/23/01 Pathon might miss his third straight game Thursday at Kansas City due to a sprained right foot. Don't use him this week.  Terrence Wilkins , WR IND - Beer Gut Boys Updated 10/23/01 Wilkins is questionable for Thursday's game at Kansas City due to broken ribs. We don't recommend you use him in a Fantasy league this week.  Terrell Davis , RB DEN - Lake Austin Mighty Mullets Updated 10/23/01 Davis is still targeting Sunday's game against New England as his comeback game from arthroscopic knee surgery, but the Broncos have not decided whet! he! r they will activate him. He will work in practice this week and the Broncos hope to know by Wednesday whether Davis can play. We don't recommend you use Davis in a Fantasy league unless it's absolutely certain he's Denver's starting running back and is 100 percent healthy.   Warrick Dunn , RB TB - Team T-Bone Updated 10/23/01 According to the St. Petersburg Times, Dunn doesn't have a hamstring strain, as was originally reported. Dunn won't practice until late in the week, however, but he is expected to play on Sunday against Minnesota.   Duce Staley , RB PHI - Water Boys Updated 10/23/01 Staley started Monday's game against the N.Y. Giants, but he didn't finish it. Staley carried the ball just three times for 22 yards, and was spelled late in the game by rookie Correll Buckhalter, who gained 34 yards on 11! c! arries late in the game. At this point, it's tough to depend on Staley to post consistent Fantasy numbers, so consider reserving him if your roster allows for a solid replacement.   Joe Nedney , K TEN - CYSWC Updated 10/23/01 Nedney suffered a neck injury in Sunday's game but is expected to play this week.   Erron Kinney , TE TEN - Water Boys Updated 10/23/01 Kinney will be listed on the injury report because of a calf injury. However, he is expected to play in this week's game.   Kevin Dyson , WR TEN - South Park Cows Updated 10/23/01 Dyson is recovering from a thumb injury but is expected to play in Monday's game against the Steelers. He is expected to participate in practice.  Eddie George , RB TEN - South Park Cows Updated 10/23/01 George suffered a thumb injury in Sunday's game. He is expected to play in this week's game.   Steve McNair , QB TEN - Money Shots Updated 10/23/01 McNair is suffering from a sore ankle as a result of a play in Sunday's game. However, he is expected to play in this week's game.   Chris Sanders  , WR TEN - Free Agent Updated 10/23/01 The Tennessean reports that Sanders has a disc problem in his back. The reserve receiver is expected to see a specialist this week. Treatment options consist of rest, an injection, or surgery. Don't expect Sanders to play anytime soon. Rookie Drew Bennett will play in his absence.   Damon Jones , TE JAC - Free Agent Updated 10/23/01 Jones is expected to resume practicing on Wednesday. An MRI on his shoulder showed that his injury would not require surgery.   Fred Taylor , RB JAC - High S! hr! ivel Factor Updated 10/23/01 Taylor has been ruled out of Sunday's game against Baltimore and his status for next week's game remains uncertain. "All I know is that, from week to week, they increase his exercises and change of direction," head coach Tom Coughlin told The Florida Times-Union. "It remains to be seen when Fred will be able to play. Progress is slow. I'm hoping he responds well this week, then we can make some kind of legitimate guess [about a return date] next week." Taylor has been inactive since severely injuring his groin on Sept 23.     Dennis Northcutt , WR CLE - Free Agent Updated 10/23/01 Northcutt left Sunday's game because of a concussion. He is expected to play when the Browns return to action next week.   Todd Heap , TE BAL - Money Shots Updated 10/23/01 Heap did not play Sunday but head coach Brian Billick told The Baltimore Sun he is optimistic that the rookie will play in this week's game. Heap has been inactive for the last four games because of a sprained ankle.   Terry Allen , RB BAL - The Replacements Updated 10/23/01 Allen, who left after the fifth play of Sunday's game with a sprained ankle, is questionable for this week's game. Jason Brookins will start at running back if Allen is inactive.   Elvis Grbac , QB BAL -! S! outh Park Cows Updated 10/23/01 Coach Brian Billick expects Grbac to be ready for Sunday's game against Jacksonville, but the quarterback wasn't so sure. "I'm day-to-day. I'm feeling pretty sore in the chest area," Grbac said Monday. "There could be something going on with the cartilage. I haven't picked up a ball or thrown a ball, so we'll just have to wait and see." Randall Cunningham will replace Grbac if he is unable to play.     Az-Zahir Hakim , WR STL - High Shrivel Factor Updated 10/23/01 Hakim suffered a calf injury during Sunday's blowout win over the New York Jets. However, he is expected to be available for this weekend's game against New Orleans.   Trung Canidate , RB STL - Barking Spiders Updated 10/23/01  According to the St. Louis Post-Dispatch, Canidate is expected to start in place of Marshall Faulk this weekend against New Orleans. "I wouldn't expect Marshall to be up for this game," coach Mike Martz said. "He's got to be 100 percent before I would be convinced that we've got to let him play. And if he's not, then he doesn't play." Canidate proved himself as a worthy replacement last Sunday against the Jets, and should be starting from a Fantasy perspective again this week.     J.J. Stokes , WR SF - Addison Red Cornholes Updated 10/23/01 Stokes spent much of the bye week tending to his injured legs, and is close to being completely healthy. "Thankfully the bye week came so early. It was a blessing fo! r ! me because I was able to get treatment every day," Stokes told the Contra Costa Times . "I practiced today good. I wouldn't say I'm 100 percent but I'm darn close." Stokes has been less than mediocre, however, so don't use him as a regular starter unless he proves himself to be more reliable.   Ike Hilliard , WR NYG - Dallas Demon Horde Updated 10/23/01 Hilliard continues to improve each week, and is now back in the Giants' starting lineup. Hilliard led the G-Men with six catches for 80 yards on Monday night against Philadelphia, and looked as though his surgically-repaired foot is almost completely healed.   Ron Dixon , WR NYG - Free Agent Updated 10/23/01 Dixon missed Monday night's 10-9 loss to the Philadelphia Eagles due to a sprained ankle. The reserve wideout is day-to-day.   Marshall Faulk , RB STL - Dallas Demon Horde Updated 10/23/01 According to Head Coach Mike Martz, Faulk is questionable for Sunday's game against New Orleans. "I'm just taking the same posture that we did a week ago," Martz said. "I would not expect Marshall to be up (active) for this game. He's got to be 100 percent before I'll be convinced that we've got to let him play." Trung Canidate would once again start in Faulk's absence is he's unable to go.    More Updates  Rosters Teams  [IMAGE] [IMAGE]  [IMAGE] CYSWC Dutch Quigley    Player TM Pos Status Next Bye Chandler, Chris  ATL QB Active bye Week 7 Smith, Maurice  ATL RB Active bye Week 7 Dillon, Corey  CIN RB Active @DET Week 8 Alexander, Derrick  KC WR Active IND Week 10 Freeman, Antonio  GB WR Active bye Week 7 Scott, Darnay  CIN WR Active @DET Week 8 Lewis, Chad  PHI TE Active OAK Week 5 Nedney, Joe  TEN K Active @PIT Week 3 Bills  BUF DT Active @SD Week 5 Garcia, Jeff  SF QB Reserve @CHI Week 6 Smith, Antowain  NE RB Reserve @DEN Week 16 Redmond, J.R.  NE RB Reserve @DEN Week 16 Mason, Derrick  TEN WR Reserve @PIT Week 3 Proehl, Ricky  STL WR Reserve NO Week 8 Clark, Desmond  DEN TE Reserve NE Week 15 Vinatieri, Adam  NE K Reserve @DEN Week 16 Raiders  OAK DT Reserve @PHI Week 6  Total Active Players: 9 Total Reserve Players: 8  NFL Injuries for CYSWC Updated Player Team Pos Injury Expected Return 10/23/01 Scott, Darnay  CIN WR Ribs Probable for Sunday's game at Det.  View Transactions  [IMAGE]View  [IMAGE]      [IMAGE] Make Selection   [IMAGE]       [IMAGE] There are no League Transactions which meet the selected criteria.  To see all league transactions select "All", "All", "All Teams" from the Transactions, View page.     [IMAGE]  Copyright 2001 Commissioner.COM Inc and SportsLine.com Inc. Your site can be reached from http://fantasy.sportsline.com   FB10SP


---------------------- Forwarded by Eric Bass/HOU/ECT on 11/29/2000 04:39 PM
---------------------------

Susan M Scott
11/29/2000 04:28 PM
To: cscott_korea@yahoo.com, tdkelley@ev1.net, Errol
McLaughlin/Corp/Enron@ENRON, celeahy@hotmail.com, d.epperson@mail.utexas.edu,
Eric Bass/HOU/ECT@ECT, ehillegeist@hotmail.com, jkbowles@hotmail.com,
emily.boon@msdw.com
cc:
Subject: Priceless!

---------------------- Forwarded by Susan M Scott/HOU/ECT on 11/29/2000 04:25
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  Mason Hamlin                           11/29/2000 04:18 PM

To: Nick Hiemstra/HOU/ECT@ECT, Joseph Piotrowski/NA/Enron@Enron, John
House/HOU/ECT@ECT, Lisa Gillette/HOU/ECT@ECT, Susan M Scott/HOU/ECT@ECT, John
Swinney/HOU/ECT@ECT, Scott Earnest/HOU/ECT@ECT, Michelle Bruce/HOU/ECT@ECT,
Zachary McCarroll/Enron Communications@Enron Communications
cc:
Subject: Priceless!

 - Priceless.jpg


Chad -- Good to see you the other day.  Please give me a call when you return
to your office.  I am embarrassed to say that I am not sure I have the right
version of the Operating Agreement we sent you in March...if we can compare
notes, I can make sure I get the correct one to you without further delay.

Thank you!

Susan Scott
Transwestern Pipeline Company
(713) 853-0596


Ms. Peppers, I am very sorry, but I must once again reschedule the
appointment that you have with Mr. Lay.  He will be out of town the entire
week of September 26.

The first available time to reschedule is October 19, 2000.  Would an
afternoon appointment work for you - about 2:00 p.m.?

I look forward to hearing from you.

Rosalee


I was wondering why you were waiting so long to respond.  I'm glad he is
staying.  I think it says something about his commitment to the program he
built.  It also says a little about the Big XII.  How are things in CO?  I'm
in Chicago now but am heading for LA later this afternoon for Carlos&Y's
shower.  Take care.

DG

"Sean Mayers" <smmayers@earthlink.net> on 07/06/2000 09:20:33 PM
To: "Giron, Darron" <dgiron@enron.com>
cc:
Subject:

The answer to your question in Roy  Williams.?


Listed below are dates and actions required to finish the year-end PRC
process.  Please make a note of these dates and perform any required
actions.  If you have questions, please contact me.

December 15:  All PRC meetings and ratings will be finalized for Sr. Director
and below positions.
January 25:  Performance reviews must be completed by this date.  All
performance review information, including bonus payment and salary increase,
must be communicated to employees.
February 5:  Bonus payment made to eligible employees.

Since we have many new employees, I thought I would provide the following
information and philosophy about our performance review system.  Enron is
very proud of its employees and is known for hiring the most talented people
available in the marketplace.  I believe that is true in West Power Trading.
The challenge for managers is to provide valuable feedback, and the most
accurate rating, to employees so they can enhance their performance and
progress in their current roles and within the company.

There are basically two objectives to our performance review system.

Career Development/Feedback on Performance:  This part of our performance
review system includes the meetings and discussions surrounding the following
four documents that are in each review package:  Goals, Expectations,
Accomplishments, Feedback.  Employees prepare a listing of their Goals to
accomplish by the next review period and a list of their Accomplishments
since the previous review period.  Managers prepare Feedback and prepare a
list of Expectations during the next review period.  These documents are the
cornerstone for constructive two-way feedback during a performance review.

Performance Rating:  Enron uses a merit-based approach to determine
promotions, raises, and bonuses.  This is accomplished in the PRC
(Performance Review Committee) meetings.  In these meetings, the ENA
management team assigns a performance rating to each employee.  We attempt to
make this process as fair and objective as possible.  For West Power Trading
employees, each person's performance is assessed relative to responsibilities
defined in the "Expectations" document.  Performance is also gauged relative
to your peers throughout ENA--Portland, Houston, and Calgary.  Each person's
manager had tremendous input into this process.  I personally represented
each person in our group in the final ENA PRC meeting in Houston.  I feel
confident the process was fair and that the tremendous achievements of our
office were acknowledged.

The following is a review of the various rating categories.

NEEDS IMPROVEMENT:  Does not meet most expectations.  Demonstrates some of
the criteria.  Further development needed in most areas.

SATISFACTORY:  Meets many but not all expectations.  Demonstrates most of the
criteria.  Further development needed in many areas.

STRONG:  Meets most and exceeds some expectations.  Role model for some of
the criteria.  Further development needed in some areas.

EXCELLENT:  Exceeds most expectations.  Role model for most criteria.
Further development needs are minimal.

SUPERIOR:  Consistently goes above and beyond expectations.  Role model for
criteria.  Very little need for growth and change at current level.

My commitment to you is that by January 25, you will receive your
career/development feedback and your performance rating.  Hopefully this
information aids you in understanding the PRC review system.  If you have any
questions about the process, please see your manager or me.  Also, Amy
FitzPatrick would be happy to answer any questions you have or provide
assistance with the PRC Process.


I've sent this to litigation unit.  MHC

 -----Original Message-----
From: 	Daniels, Eddy
Sent:	Friday, July 20, 2001 3:45 PM
To:	Cash, Michelle
Subject:	Resume of  Fields Alexander

I meant to include you on this email.  EDD
 -----Original Message-----
From: 	Daniels, Eddy
Sent:	Friday, July 20, 2001 3:43 PM
To:	Walls Jr., Rob
Subject:	FW: Fields Alexander

This is resume for a good guy and a friend of mine from my judicial clerkship days who is looking to move back to Houston (he was with VE here for several years) and is hoping to find a litigation position in house.  Sanders says EWS isn't looking.  Any ideas re Corp. or our other subs.?

 -----Original Message-----
From: 	"Jeffrey C. Kubin" <JKubin@Gibbs-Bruns.com>@ENRON [mailto:IMCEANOTES-+22Jeffrey+20C+2E+20Kubin+22+20+3CJKubin+40Gibbs-Bruns+2Ecom+3E+40ENRON@ENRON.com]
Sent:	Monday, July 16, 2001 6:32 PM
To:	Daniels, Eddy
Subject:	Fields Alexander

Eddy:

Attached is Field's resume.  Obviously, give him or me a call as you see
fit.

Again, thanks for your help.

Jeff
 <<FIELDS.wpd>>
 - FIELDS.wpd << File: FIELDS.wpd >>


The topic will the the western natural gas market.  I may have overhead slides.  I will bring handouts.


Just a note, that the assignment and assumption agreement does not need to be
executed, but the amendments still need to be executed and returned to me.

Marlene Hilliard
---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 09/05/2000
03:50 PM ---------------------------

Marlene Hilliard
09/05/2000 01:37 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Re: Oasis Pipe Line Company

Daren,

This is true.  I did not learn of this until Friday September 1, 2000.
However, I still need to have the Oasis Contracts returned to me.

Please return them in interoffice mail.

Thanks so much.

Marlene D. Hilliard
---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 09/05/2000
01:34 PM ---------------------------

Daren J Farmer
09/05/2000 01:24 PM
To: Marlene Hilliard/HOU/ECT@ect
cc:
Subject: Re: Oasis Pipe Line Company

Marlene,

After discussions with the desk, we have decided to keep the Oasis contracts
under ENA.  So, we don't need to sign the contracts you sent earlier.  Let me
know if you have any questions.

D

Marlene Hilliard
08/31/2000 12:36 PM
To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Oasis Pipe Line Company

I need to know the status of these contracts I forwarded to you on August 23,
2000 and August 25, 2000.

Marlene Hilliard