I think you need to too.  I am feeling okay, except for this headache that is creeping up.  How are you today?  Were you here yesterday?

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 31, 2002 12:41 PM
To:	Rybarski, Amanda
Subject:	RE:

thats a very good point, i need to work that out, how are you feeling

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 31, 2002 12:40 PM
To:	Maggi, Mike
Subject:	RE:

I know, but if you were my boss, then I would be able to

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 31, 2002 12:40 PM
To:	Rybarski, Amanda
Subject:	RE:

you cant unfortunately

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 31, 2002 12:40 PM
To:	Maggi, Mike
Subject:	RE:

let's go

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 31, 2002 12:39 PM
To:	Rybarski, Amanda
Subject:	RE:

now

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 31, 2002 12:39 PM
To:	Maggi, Mike
Subject:	RE:

and I'm ready to anytime

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 31, 2002 12:39 PM
To:	Rybarski, Amanda
Subject:	RE:

you can anyway

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 31, 2002 12:37 PM
To:	Maggi, Mike
Subject:	RE:

I think so, I would treat you better than she can

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 31, 2002 12:36 PM
To:	Rybarski, Amanda
Subject:	RE:

we will have to work on that in the future

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 31, 2002 12:36 PM
To:	Maggi, Mike
Subject:	RE:

No, I'm actually pretty happy about the deal.  Not as happy as I would be if I were working for you.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 31, 2002 12:35 PM
To:	Rybarski, Amanda
Subject:	RE:

thats not bad

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 31, 2002 12:35 PM
To:	Maggi, Mike
Subject:	RE:

Yeah, right.  I wish! I am working for Chris still and Scott Neal.

 -----Original Message-----
From: 	Maggi, Mike
Sent:	Thursday, January 31, 2002 12:34 PM
To:	Rybarski, Amanda
Subject:	RE:

perfect, are you working with me

 -----Original Message-----
From: 	Rybarski, Amanda
Sent:	Thursday, January 31, 2002 12:32 PM
To:	Maggi, Mike
Subject:

We're going to be sitting kina close after the move.


Executive Summary:

? Legislators in both parties are scared about a fiscal meltdown and looking
for a realistic Plan B
? The Keeley plan is the most likely vehicle and would include the 30%
generator haircuts and revenue bonds backed by a dedicated rate component
? Despite uncertainty over dealing with transmission lines and continued
oppostion from Burton and his consumer group allies, the Keeley plan will
probably pass the legislature
? The generators will not support the plan until they get clearer guarantees
from the state that investigations and lawsuits will end
? PG&E could get the same offer as SoCal through the bankruptcy court.

1. Budget Binge Could Scare Legislators into a Deal

According to sources, the Assembly is "terrified"  of the current holes in
the budget due to buying power.  The impact of the  energy crisis is
reportedly causing panic among some legislators.  This  panic appears to be
moving a SoCal bailout plan forward.

 Sources report that a modified Plan B deal is  "not that far off"; it will
likely take one to two weeks (more likely closer to  two) to move a deal
through the Assembly and the Senate and to the governor's  desk once it is
introduced.

2. What Would the New Plan B Look Like?

- This modified Plan B deal, which  will originate in the Assembly, will
almost certainly include a dedicated  rate component to pay SoCal's
undercollect.  Revenue bonds will be issued  securitized by this dedicated
rate component.  It is also very likely that  the generators would be offered
70 cents on the dollar for what they are owed  immediately, with the
possibility of more if they win litigation.  (Sources  report that the state
is "fairly confident" that at least most generators  would not be successful
in winning this additional money.)  Assembly Speaker Keeley  reportedly
remains the driving force behind this plan, and it is being drawn up  from
within his office.

3. Transmission Lines

- It remains unclear at this time whether a  transmission line purchase or
option to purchase will be put into the deal,  since this is a major point of
contention between the Democrats and  Republicans.  According to sources, the
Assembly is "working on  this."

4. Plan Looks Good to Pass Both Assembly and Senate

- According to sources, the vote count for passing  a deal containing the
above components (except the transmission line purchase,  which is not yet
settled) "looks very good."  The vote in the Senate would  be "very close."
Senator Burton still opposes a bail-out deal, but he  reportedly might not
stand in the way of others from voting for the  plan, making its passage more
likely.  Even opponents of the plan  (including Burton and the consumer
advocates) say that the odds of a modified  Plan B passing the Senate are
better than 50-50.  These opponents are  reportedly "pessimistic" about their
chances of stopping a Plan B from passing  at this point.

5. Caveat: Generators Are Waiting For Guarantees That the Witch Hunt Will End

- As reported previously, sources continue to  believe that generators would
be reluctant to take a 70 cent-on-the-dollar  haircut without the state
offering them relief from further prosecution.   (Without this relief, the
state could give them 70 cents, then try to take away  even more.)  Sources
report that even opponents of the plan accept that the  generators should be
offered this relief from prosecution.  Thus, it  appears likely at this time
that most generators would accept a 30 percent  haircut if they were paid
immediately.  Also, sources believe that the  securitization on the dedicated
rate component offered in the modified Plan B  would be sufficient to pay
back those generators who successfully litigated to  win more than 70 cents
on the dollar.

- Sources believe that SoCal Edison's creditors are  likely to forebear from
filing an involuntary bankruptcy long enough for this  plan to go through,
since it would pay back most of what they are  owed.

6. PG & E Could Also Be Dealt In

- If this plan succeeds, it will almost certainly  be taken to the bankruptcy
court and offered to PG&E as part of a  reorganization plan.  This plan can
be offered at any time within  PG&E's "period of exclusivity."  This is a
90-day period (though it is  often extended) following the filing of a
bankruptcy petition.

- However, sources report that the state is  concerned about how to approach
the bankruptcy court.  Based on Supreme  Court precedent (which legal sources
within the state have been reviewing), the  state would likely lose its
sovereign immunity if it entered as a party into the  bankrutpcy court.  This
is a problem because the stakes in this case are so  high.

7. Bailout Bill Would Require Follow Legislation For A New Rate Structure

- Even if the state passes and signs a SoCal  bailout, it would still need to
pass a rate structure that would allow SoCal and  PG&E to flow through cost
increases to prevent them from once again facing  bankrtupcy.  Therefore,
this plan does not make the crisis go  away.


After your arbitration is over, can you give me a quick (and short) update on
Pacific Virgo that I can forward to John Nowlan.


I am going to be the Senior Regulatory Counsel at ISO New England starting on
April 9, 2001.   My last day in the Portland area will be March 31, 2001.  I
enjoyed working with you and wish you the best of everything.  I'm having a
pot luck at my house Friday, if you and Steve want to come over.

My new address will be:

Mary Hain
Senior Regulatory Counsel
ISO New England Inc.
One Sullivan Road
Holyoke, MA  01040-2841
(413) 535-4000
mhain@ISO-NE.com


Kate,
I called Alicia Izarraraz from Atlantic to verbal trades and she was
inquiring about the term of trade, May delivery, she thought they were going
to be for April delivery. Deals 576274.01, 576275.01.  Kate, can you ask
Chris to call regarding inquiry.  Her cell phone is 949-637-4878, her desk
number 562-499-3201 she said she will be out if the office soon.  No broker,
done direct.
Thanks
Sp


Attached is a rough outline of the information that we might want to
incorporate into a LOI with NRG.  We can discuss this at the 10 AM meeting.

Thanks-
Bill


Kimberly-

I would like a loaner laptop for the weekend.  Is that possible??  Also, the ice machine by us is not dispensing ice anymore.

Thanks,

Susan

P.S.- I promise not to complain about anything next time I write......


Welcome to the ACT! eNews brought to you by Interact
Commerce Corporation, the makers of ACT!.

This free newsletter is published to provide you with tips and tricks on
ACT! as well as news and other information about ACT!. As always, if you
have any feedback regarding this newsletter, please send it via e-mail to
comments@act.com.  If you have technical support questions, please visit
http://support.act.com or call 1-800-927-3989.

We will be sending out this free newsletter monthly, and we hope you enjoy
it. Please feel free to forward it to your friends and coworkers, or let
them know that they can sign up at http://www.act.com/enews.

If you wish to be removed from this mailing list, please follow the
instructions at the end of this message to UNSUBSCRIBE.

The information contained in this newsletter applies to ACT! customers in
North America.

**********************************
Featured This Month

* Access Your ACT! Information on the Web
  http://www.act.com/webaccess

* Official ACT! QuickStudy Guide ? Coming Soon!
  http://www.act.com/quickstudy

* How to Make Your Calendar Display Upon Startup
  http://www.actnews.com

* How to Easily Create More E-mail Fields
  http://www.theactbuzz.com/act_quiktrix_0114.asp

* How to Use ACT! WebAccess
  http://www.actextra.com/webaccess.asp

* How to Preview Reports Automatically
  http://www.actnews.com

* ACT! QuickSurvey ? Mailing Services
  https://websurveyor.net/wsb.dll/7911/pmail.htm

* New ACT! Reporting Package - Special Offer
  http://www.pinpointtools.com/products/crystalball.htm

***********************************
Access Your ACT! Information on the Web

We have heard from so many ACT! customers that need access to their ACT!
information via the web.? In response, we?re happy to announce that your
workgroup can now do just that!? Through a partnership with WiredContact,
ACT! WebAccess is now available to every ACT! user and gives you and your
workgroup real-time access to your database through the web. The software
is loaded on your company?s web server so your team?s ACT! data is
protected inside your firewall but accessible from any web browser.? To
learn more or purchase ACT! WebAccess, please call 1-888-855-5222 or view
the interactive demo at:

http://www.act.com/webaccess

***********************************
Official ACT! QuickStudy Guide ? Coming Soon!

As an ACT! eNews reader, we do our best to give you early notice of all
that is new with ACT!.  This month, we wanted to let you know about
something that so many of you have asked for ? an easy way to learn even
more about ACT!.  Now, with the new Official ACT! QuickStudy Guide, you can
master ACT! on your own time, at your own pace - without leaving your desk!
 The Official ACT! QuickStudy Guide includes more than 100 self-paced
lessons covering basic to advanced functions making it perfect for
individuals, small businesses, and corporate workgroups.  It?s guaranteed
to save you time and make you more productive with ACT! ? and with a
special early-bird, pre-order price of only $34.95 ($15 off) valid until
February 28, 2002, you?ll recover your investment with the first lesson.

For more information, please visit:

http://www.act.com/quickstudy

***********************************
How to Make Your Calendar Display upon ACT! Startup by Jeffrey Mayer

Have you ever wanted to view your daily calendar right when you start ACT!
instead of looking at your contacts first? You can do this easily by
writing a macro that opens the daily calendar, and then automatically
running the macro each time you start ACT!. This is how you do it:

1.  Press Alt+F5 to open the Record Macro dialog box.
2.  Name your macro and give it a description, i.e. Daily Calendar.
3.  In the Record Events field, select the Record Everything Except
 Mouse Events option.
4.  Click Record to start recording your Macro.
5.  Press Shift+F5 to open the Daily Calendar.
6.  Press Alt+F5 to stop the recording of your macro.

To run your Daily Calendar macro when you start ACT!, do the following:

1.  Choose Preferences from the Edit menu, and click on the Startup
 tab.
2.  Click the Browse button in the Run Macro On Startup section.
3.  Select Daily Calendar from the list of macros.  If you don't see
 Daily Calendar in the list of macros, you may need to navigate to
 it depending on where you installed ACT!.  For example, your macros
 may be stored at c:/programfiles/act/macros.
4.  Click OK to save your new preferences.

When you restart ACT!, your daily calendar will now display automatically!

This tip was provided by ACT! guru Jeffrey Mayer, whose newest ACT! eBook
is "Growing Your Business With ACT!." Jeff's other ACT! & Business eBooks
include "Customizing Your ACT! Database," "Getting Organized With
SideACT!,""ACT! Power User Tips" and "Opening Doors with a Brilliant
Elevator Speech."

Click here to order and download, or subscribe to his free ACT! newsletter
at:

http://www.1shoppingcart.com/app/aftrack.asp?AFID=19297

***********************************
How to Easily Create More E-mail fields from The ACT! buzz

How many e-mail addresses do you have? Based on the number of readers
telling us about their new e-mail addresses, we?d guess most of you and
your contacts have more than one. Now, ACT! does allow you to enter
multiple e-mail addresses for a contact in the e-mail field, but the
process to use an e-mail other than the default is cumbersome. Those of you
experienced with adding or defining fields in ACT! have noticed that there
is not a field type called e-mail that you can use to modify an existing
field or to create new. Fortunately there is a simple solution. It?s a
fairly long story so instead of including it all here, please view the
complete article at:

http://www.theactbuzz.com/act_quiktrix_0114.asp

If you?d like to read more tips or receive free e-newsletter tips from the
ACT! buzz, please visit:

http://www.theactbuzz.com

***********************************
How to Use ACT! WebAccess from ACT! Extra

One of the challenges that confronts ACT! as a product is distributing the
company database information to sales reps that are geographically distant.
ACT!?s answer has been synchronization and when properly configured and
maintained, it works. But, not every remote ACT! user needs
synchronization. That is, if the remote user does not need to have an ACT!
database saved on their hardware and does have a connection to the web,
ACT! WebAccess may be a better solution. Or, if you are a company that
needs a more detailed and robust level of security on a per user basis,
WebAccess? is the answer. Or, and this is the really cool part of this
product, if you have a web enabled phone, you can access your ACT! database
in real time, via your handset!

To read the full article, please visit:
http://www.actextra.com/webaccess.asp

ACT! Extra is a brand new web site designed specifically for ACT! users.
ACT! Extra provides online tips, techniques, and product reviews, as well
as a printed monthly newsletter. For more information on ACT! Extra, please
visit:

http://www.actextra.com

***********************************
How to Preview ACT! Reports Automatically by Jeffrey Mayer

Many ACT! users like to preview their reports on-screen before they print
them to paper. However, by default, ACT! prints each report you create. As
an alternative to changing the Send Output To "Preview" each time you
create your report, you can go into the report itself and modify the
Default Output setting.

This is how you do it:
1.  Choose Edit Report Template from the Reports menu.
2.  Choose your report from the displayed list.
3.  Choose Define Filters from the Edit menu to display the Define
 Filters dialog box.
4.  Select Preview from the Send output to drop-down list.
5.  Click OK.
6.  Then choose Close from the File menu, and Yes to save your changes.

Each time you run your report, you will be able to preview it prior to
printing.

This tip was provided by ACT! guru Jeffrey Mayer. To receive Jeff's FREE
ACT! newsletter, please visit:

http://www.1shoppingcart.com/app/aftrack.asp?AFID=20389

***********************************
ACT! QuickSurvey ? Mailing Services

If you?re interested in sending postal mail with the ease and
personalization of e-mail ? integrated with ACT!, please take the survey
below to provide your feedback on a postal mailing service:

https://websurveyor.net/wsb.dll/7911/pmail.htm

***********************************
New ACT! Reporting Package ? Special eNews Offer!

There's a great new product for reporting that we wanted you to know about.
It's called Crystal Ball Reports for ACT! and the folks at pinpoint tools
are making a special, one-time offer on it to ACT! eNews readers.  Instead
of $249, it is only $99.00 until February 28.  Get real business
intelligence by analyzing ACT!'s History file.  Drill down on charts and
graphs to detail where your referrals and leads came from.  See clearly
what opportunities are in your pipeline.  Analyze how many Calls were
Completed, or Meetings were Held.  Find out the frequency of when new
contacts were entered, and much much more.  This package can start you on
the road to real "data mining" from your ACT! database.

To learn more or purchase Crystal Ball Reports for ACT!, please visit:

http://www.pinpointtools.com/products/crystalball.htm

***********************************
We hope you enjoyed this issue.  Please send your feedback on this
newsletter to: comments@act.com.

For customer service or technical questions regarding ACT! 2000, ACT! Link
2.0 or ACT! Link for QuickBooks, please visit the ACT! Service and Support
page at:

http://support.act.com.

If you wish to be removed from the e-News mailing list, please reply to
this message with REMOVE in the Subject line.

All the best,
 The ACT! Team??

Privacy Notification
This message is being sent to you by Interact Commerce Corporation, the
makers of ACT!.  Interact Commerce Corporation respects your desire for
privacy. You are being contacted as a result of a previous interest you
expressed in ACT!. If you do not wish to receive this newsletter on a
monthly basis, please reply to: ACTeNews@act.com with REMOVE in the subject
line.  mailto:ACTeNews@act.com?subject=remove

______________________________________________________________________
You are receiving this email because you requested to receive info and
updates via email.

To unsubscribe, reply to this email with "unsubscribe" in the subject or
simply click on the following link:
http://unsubscribe.verticalresponse.com/u.html?ab1e512943/6bbb77a7ba


We and my family are going to Beaver Creek for x-mas but are going on a
cruise which travels to different Virgin islands and will be in St. Barts for
New Years.  We have never been to these Islands or on a cruise before so it
should be pretty interesting.  I'll let you know about the tics.  See ya
Ben


CALENDAR ENTRY:	REMINDER

Description:
	Please do not put any meetings on this day before talking to me.  Thanks - Stacey

Date:		6/4/2001
Time:		8:00 AM (Central Standard Time)

Chairperson:	Stacey W White

Detailed Description:


Gerald,

Have you had time to work on developing the GTC Firm Point based confirmation for the deals that are bought at a point but are not Committed Reserves (i.e. Month-long wellhead deals)?  The Global Contracts group would like to get a copy of even a rough form so that they can make sure that the Global contracts template is set up and functioning before bid week is upon us again.

Thanks,
Judy


Richard,

Can you please review this and let me know if what you think.

Thanks,  Robert

Andy Cowx
11/09/2000 05:15 AM
To: Robert Knight/HOU/ECT@ECT
cc:
Subject: Re: Recording Trades from made on Mobile phones

Robert,

Please see my e-mail to Cindy , she has requested that a similar facility is
set up in Houston, is it possible ?

Thanks

Andy
---------------------- Forwarded by Andy Cowx/LON/ECT on 09/11/2000 11:17
---------------------------

Cindy Horn
08/11/2000 17:51
To: Andy Cowx/LON/ECT@ECT
cc: Nigel Denty/LON/ECT@ECT, Martin Paddington/LON/ECT@ECT, Kenneth
Drury/LON/ECT@ECT

Subject: Re: Recording Trades from made on Mobile phones

This is great news!!!  Can you handle sending this announcement as I assume
this was an audit issue for the other trading groups as well!!

Also,  how can we get this same process in place for the Houston and
Singapore offices??  They have the same issues on their audits.  Thanks you
guys did a great job!!!!   Cindy

Andy Cowx
08/11/2000 12:26
To: Cindy Horn/LON/ECT@ECT
cc: Nigel Denty/LON/ECT@ECT, Martin Paddington/LON/ECT@ECT, Kenneth
Drury/LON/ECT@ECT

Subject: Recording Trades from made on Mobile phones

Cindy,

We have some good news for you.  We have set up a number which can only be
called from Enron Mobile phones (37373), when you dial this number you will
hear dialtone.  The dialtone is coming from the phone system at Enron House,
you are then able to dial exactly as if you were at your desk, ie dial '9'
and the number you wish to reach.

All calls coming through this route will be recorded and can be retrieved by
the telecoms team for playback / reference.

We have also ensured that external people cannot dial this number from
outside the building by using 020 7783 7373.

Let me know if you want to issue a note as a General Announcement or whether
you wish to handle the distribution of the number.

Regards,

Andy
x37285

Cindy Horn
31/10/2000 17:37
To: Andy Cowx/LON/ECT@ECT
cc: Nigel Denty/LON/ECT@ECT

Subject: Re: Who should I talk to on this one?

Instead of providing a phone number could there be a short code or something
that they do that in the background dials this number so no one gets access
to this number?   I know that this is an issue in all of the offices with
traders making deals on cell phones on unrecorded lines.  I do not want to do
something that puts Enron at risk though.  Thanks Cindy

Andy Cowx
31/10/2000 17:02
To: Cindy Horn/LON/ECT@ECT
cc: Nigel Denty/LON/ECT@ECT

Subject: Re: Who should I talk to on this one?

Cindy,

We can provide a telephone number in the office which the traders can call
from their mobile phone, they would then be offered dialtone from the
telephone system and can then dial on to an external party.

The call would then be routed out from the office and would be subject the
the normal recording criteria.

However I wouldn't recommend this approach as we are opening up an external
gateway for people to use our telephone system, this would be unmetered and
not secure. The potential for toll-fraud is something that we need to take
into account.

Regards,

Andy Cowx

---------------------- Forwarded by Andy Cowx/LON/ECT on 31/10/2000 17:02
---------------------------

Nigel Denty
31/10/2000 16:41
To: Cindy Horn/LON/ECT@ECT
cc: Andy Cowx/LON/ECT@ECT

Subject: Re: Who should I talk to on this one?

I'll ask Andy Cowx (Telecoms Manager) to investigate - my initial thoughts
are that technically this may not be possible.
regards,
Nigel

Cindy Horn
31/10/2000 16:01
To: Nigel Denty/LON/ECT@ECT
cc:

Subject: Who should I talk to on this one?

If the traders do a deal from their cell phone, is there a way they can have
that call routed back through the phones in the building so it gets done on a
recorded line?  I know if you call someone and then dial some numbers it
takes you to their cell phone.  Can it work backwards so they hit some
numbers and it routes the call through the office?   This would help with
some of our AA issues.  Thanks Cindy


A summary of FERC Order No. 637-A is attached in both Word and WordPerfect
formats.  Please call if you have any questions. - Randy

 - 0125114.WPD
 - 0125114.DOC


If it is not too late I would like to put on hold my request to add Barrett
Resources to the EOL Product for El Paso Blanco Average. I made the request
yesterday so hopefully I am not toolate. Upon discussing the product with
Barrett, I do not think this would be a good idea to add them at the present
time.  I willkeep you advised.  Thank you for your patience.


I know of no reason why we could not deliver this opinion.

	Angela Davis@ENRON
	03/20/2001 08:00 AM

		 To: Richard B Sanders/HOU/ECT@ECT
		 cc:
		 Subject: Opinions

In connection with a series of FASB 125 transactions, ENA will be entering
into several swap transactions.  Also in connection therewith, Mark H. will
be asked to deliver an opinion that there is no litigation which could impair
ENA's ability to perform under the swaps.  Do you know of any reason why we
could not deliver this opinion?  The opinion will be dated sometime on or
prior to quarter end.

Angela D. Davis
Enron North America Corp.
1400 Smith, Suite 3817
Houston, Texas 77002
Tele. (713) 345-8347
Fax:  (713) 646-3393
e-mail:  angela.davis@enron.com


As per my call.
----- Forwarded by Mark Taylor/HOU/ECT on 05/31/2001 09:59 AM -----

	Carlos Alatorre/ENRON@enronXgate
	05/30/2001 08:52 AM

		 To: Mark Taylor/HOU/ECT@ECT
		 cc: Kevin Meredith/ENRON@enronXgate
		 Subject: FW: ENRON ON LINE - PETROLEUM TANKER FREIGHT

Mark,
I hope this is of some use, I have schedule a meeting for Thursday @10:00 to
go over it with Joe King
Thanks,
Carlos

 -----Original Message-----
From:  Lin, Homer
Sent: Wednesday, May 30, 2001 8:39 AM
To: Alatorre, Carlos
Subject: FW: ENRON ON LINE - PETROLEUM TANKER FREIGHT

Hope this is of some use... this is the history of the project before it fell
into my lap.  It describes the $5.10 flat rate calculation for BITR 9.

Homer

---------------------- Forwarded by Homer Lin/HOU/ECT on 05/30/2001 08:36 AM
---------------------------
From: Jennifer Fraser/ENRON@enronXgate on 05/14/2001 10:21 AM
To: Homer Lin/HOU/ECT@ECT
cc:
Subject: FW: ENRON ON LINE - PETROLEUM TANKER FREIGHT

 -----Original Message-----
From:  King, Joe
Sent: Friday, May 11, 2001 5:42 PM
To: Moncrieff, Scott; Shankman, Jeffrey A.; Nowlan Jr., John L.; Fraser,
Jennifer; Maffett, Randal; Mahoney, Chris; Gagliardi, Larry
Subject: ENRON ON LINE - PETROLEUM TANKER FREIGHT

In an effort to get the concept off the ground here in the States,
particularly Houston, to that of equal extent presently being experienced in
London, we need to come up with a marketing/educational assault on the States
market. When attempted in the past, we found the concept was heavily resisted
by die-hard crude traders and vessel owners. The biggest complaint, other
than sheer stupidity on anything futures related, was that no one had any
faith or could agree on a pricing index.  Fortunately, the market is starting
to see some spurts in this direction overseas and can expect the same here
shortly.

Below you will find the most widely accepted index known as The Baltic
International Routes (BITR).

The Baltic International Tanker Routes
Date 11-May-2001
             The Following Indicative
Tanker                Routes Form The
  # Description   Size MT Wordscale Assesment  Change            Basis
  T1 M.E. Gulf to US Gulf  280000     59.25   - 0.25  Ras Tanura to LOOP
  T2 M.E. Gulf to Singapore  260000     62.05   - 0.90  Ras Tanura to
Singapore
  T3 M.E. Gulf to Japan  250000     60.50   - 0.68  Ras Tanura to Chiba
  T4 W. Africa to US Gulf  260000     75.75     0.50  O.S. Bonny to LOOP
  T5 W. Africa to USAC  130000   122.00   - 0.45  O.S. Bonny to Philadelphia
  T6 Cross Mediterranean  130000   133.50   - 1.50  Sidi Kerrir to Lavera
  T7 North Sea to Cont    80000   141.25   - 0.25  Sullom Voe to Willemshaven
  T8 Kuwait-Singapore (Crude    80000   129.50     0.25  Mena al Ahmadi to
Singapore
 and/or DPP Heat 135F)
  T9 Caribs to US Gulf    70000   162.00     1.25  Puerto la Cruz to Corpus
Christi
  T0 ME Gulf to Japan    75000   204.00   - 0.50  Ras Tanura to Yokohama
 (CPP/UNL)-Naptha/
 Condensate
  T11 Caribs - USAC (CPP/UNL)   33000   309.75     1.25  Rotterdam to New York
  T12 Caribs - USAC (CPP/UNL)   30000   323.20   18.75  Aruba to New York

Copyright The Baltic Exchange Limited 2000
Any Use of this information must be by permission of The Baltic Exchange
Limited
The Baltic Exchange would like to thank its panellilsts for their
contributions.
Names of the panellists are available from the Baltic Exchange website
(www.balticexchange.com) and in the manual for the panellists.

When reading the above chart, you will find the various voyages that are
assessed daily by the Baltic Exchange.  This report comes out every day at
11:00 AM New York. While anyone in the biz can become a member of the
exchange, the rates are assessed by a panel consisting of brokers ONLY; a
total of 8 different brokerage firms that more or less look at the tanker
market activity for the day and average what has been reported as done.  The
tanker market, for the most part, is very transparent.

1 in Norway
1 in France
1 in the U.S.
5 in London

As you can see, it is more popular in London.  This relates to the exact same
concept that has been around for years as it pertains to the Dry freight
market.

The market that we wish to begin concentrating on in Houston would be the T9
route -  70,000 MT loads Puerto La Cruz (P.L.C.) and discharges Corpus
Christi - described as caribs to USG.

The flat rate (ws100) published by WorldScale (ws) for the year 2001 actual
voyage P.L.C. to corpus is 5.10 p/mt.  As u can see by the last posting (May
11th) for route T9, the exchange is calling it a ws162 market ....If you did
a deal whereby you called and sold the month of Mays average at ws190 and the
market stayed at the 160's level you would be making 30 points on the 5.10
p/mt flat which = 1.53 p/mt x 70,000 mt cargo = 107,100 USD; vice versa if
you bought at ws 190.

The initial attraction for Houston in this market is the same reason London
trades T7 ( North Sea to Cont).  We have a trading department here that
should have a solid understanding of the short haul crude oil markets as it
pertains to their screen trades and to how it will effect freight.  In
addition, we recently ourselves have had more activity in the short haul
crude market particularly with 2 recent purchases of Columbian stems.

90% of the chartering for this market is done in the States and 75% of the
international owners have commercial representation in the States.

Route T9 has the volatility to swing from ws 155 to ws 315 over a months time
- contributing factors that effect market swings are the same as any market
when broken down.  For example:

Supply/Demand Scenarios - assume there are 25 stems in a month and only 23
boats that can make the different dates, and if only 10 of those boats are
acceptable by the majors (or anyone else that is worried about spill
liability sanctions), combined with a herd mentality that trades on a "last
done" philosophy combined with panic and weather delays particularly in EC
Mexico where 10-day turnaround voyages can increase to 20 days.

70,000 MT of crude is more commonly known in shipping as the 500,000 bbl
market.  Basic API gravity conversion for crude is 7.33 bbls p/mt hence 7.33
x 70,000 mt = 513,000 bbls.

This size vessel dominates the short haul crude market (caribs to usg) (where
the refineries are) because they are the biggest boats you can get into most
of the terminals due to physical restrictions such as draft, LOA, etc...
This not only enables the majors to get their crude right in, but allows the
traders more flexibility to sell the cargos delivered to a wider range of
buyers.  When the big boats (VLCC's) (very large crude carriers) (usually 2
million bbl plus boats) come to the USG from the Persian Gulf, West Africa,
North Sea, etc.. they park off at Anchorage and then are lightered or off
loaded to 70,000 mt boats to then bring the crude in.  (I apologize if this
is remedial for any readers)  In any event, when the USG sees a surge in big
ships coming west to the states, the 70,000 mt boats get sucked up by the
lighterage companies enabling the short haul crude market boats to get tight
which means rates will swing hard.  Currently it is a weak market at the 70 x
ws 160 level.

On average there are approximately 30 physical cargos p/month for the caribs,
or the T9 route.  For the most part the breakdown is as follows :

Mexico (Cayo Arcas, Pajaritos,) Mayan ,Isthmus, Olmeca crude - mainly
dominated by shell who have the processing deal with the Mexicans where they
deliver them cpp from the USG.  Citgo has a few, as does Valero who will
probably have more with recent acquisition of Diamond Shamrock Refining,
Orion, Coastal, Fina, Conoco, Koch, Chevron etc.

Venezuela (Puerto la Cruz, Amuay, Puerto Miranda, la Salina, Bajo grande)
etc. players are PDV, Lyondell, BP, Exxon/Mob, Conoco, Orion, Coastal etc..

Columbia -  same players

(We certainly have the resources here for more exact figures and breakdowns.)

Why would this work here in the States? With the recent surge in volatility,
a lot of the above mentioned physical players have had their ass's handed to
them.  Freight is becoming a more crucial part of crude oil trading.  Some of
the bigger players have already put into place forms of hedges such as
contact of affreightments (C.O.A.'s).  For example, Lyondell has a C.O..A.
with 3 different owners to provide 2 ships per month (that totals 6 moves
p/mo.) for 2 years.  The freight rates are settled off a 1 to 5 point formula
off Mardata (Lloyds register) which they in turn can hedge with Online.

Owners - who for the most part are always going to try to be bullish - if
have an understanding of hedges could have interest for stabilizing cash
flows.  Quite possibly Origination or Marketing could assist in promoting it
to the market - unfortunately, for me to speak to anyone outside of shipping
in another company would hurt me with their freight people who I have to deal
with on physical vessel trading.  In addition, the freight people are not
going to have the authority or descision capabilities to trade on line that
trading Department Heads might have.

In- house freight books as is the case with Scott and myself experienced much
more activity in 2000 then what we have seen thus far in 2001, A combined
result of a smaller time charter fleet this year and declining tanker rates
which makes it difficult to go long freight in the spot market as well as
limited exposure to the spot market as a result of no longer having any
supply contracts here in Houston as when we had 2 jet stems, 2 gas oil stems
and 2 mogas stems p/month with the vens. In addition we had more spot biz
with trinidad and columbia and several supply commitments in West Coast
S.America.  Im confident if the EOL Tanker freight took off  we would once
again be able to experience the same success we have seen each year thus far
in ship trading by increasing our presence in the markets.

The U.S. broker MJLF, particularly Bob Flynn, has been trying to get this off
the ground now for over 5 years and even had an unsuccessful JV with
Citibank.  Reason being, Citibank wasn't calling the market but was
interested in it from a commission standpoint (as was the case with mjlf) but
setting up avenues of hedges for ship building and vessel ownership.  FIynn
presently has a seller for 2 voyages p/month starting in July.  The pricing
would be the first 5 days and last 5 days of each month at ws 190 - he has a
bid of 160 - so there's a lot of middle ground to get this done.  This is
always the case and is why in the States there have only been about 2 deals
concluded overall.
Flynn, whose motivation is commissions, can be viewed as either a competitor
of ours or instrumental in helping us with establishment.  For it would be in
his best interest for there to be high activity, and as he is the only one
presently in the States to have a seller or bid I feel he would be easy to
manipulate and as stated before he is part of the panel.  If this was to take
off to the level that Enron has taken other markets -- whereby futures rates
are nowhere near indicative of physical freight and trades are being done off
of different pricing scenarios i.e.- months average- specific day close's,
first half/2nd half, etc -- if it became so big that sellers weren't just
owners and bids weren't just charterers but more of a global book balancing
tool, who knows what can be done.  The last time we tried to get this going
was last year when we had an analyst named Sameer in the group who was
coordinating the launch with Louise Kitchen; I believe it lost momentum with
legal.  Since London has been able to get it going under the direction of
Scott Moncrieff we should also be able to offer it here.  Scott advises me
that he has the support/infrastructure that enables him to still cover the
physical freight markets as it applies to the product traders as well as the
global freight market and ship arbitrage opportunities that we both follow
now.

I would appreciate any advice or guidance on what would be the best way to
pursue this and get it on the website. I am by no means trying to pass the
buck here and am available to anyone who might need some insight to the
freight markets be it technical or commercial and welcome the idea of a
explaining worldscale and volatility as im sure is the case with Scott in
London.


Christi --

When is this meeting?  Also, Dave Forester is looking for someone to present (through Rick Shapiro call).  Is this the same meeting?  Call me.

Jim

 -----Original Message-----
From: 	Nicolay, Christi L.
Sent:	Friday, September 14, 2001 4:53 PM
To:	'Katrina Burton/NA/Enron@ENRON'
Cc:	Steffes, James D.
Subject:	RE: DDMeeting Presentation

Thanks Katrina and looks good, except that I did something to the 2nd Ontario slide.  Can you fix it?   << File: CN-DDMeeting-0901.ppt >>


Enron in Action can be accessed through the new Community Relations web site at http://cr.enron.com/eia.html .  In this week's issue you will find out information regarding:

Enron Happenings
Enron's Operation Hope: Reclaiming Our Future One Step at a Time
Juvenile Diabetes Research Foundation "Walk to Cure Diabetes"
Quality of Life Coalition - Houston
American Heart Association "Heart Walk"
Museum of Fine Arts 2001 - 2002 Membership Drive

Enron Volunteer Opportunities
Assemble Care Packages for New York Firefighters
Sunshine Kids at Astroworld!
Justice for Children
Assist PSI HomeSavers with Home Repair
MD Anderson Cancer Center - Children's Art Project

Enron Wellness
2001 - 2002 Flu Immunization Program
Help us help others. Call and schedule a massage today!
Join The Downtown Club at The Met

Involved Employees
Rice University Young Alumni Halloween Monster Bash
Par "Fore" Pets Golf Tournament

In addition, Enron in Action is available through a channel on my.home.enron.com.  To add this channel to your set-up click on the channels link at the top of the screen and under announcements check the Enron in Action box.

If you wish to add an announcement to Enron in Action, please fill out the attached form below and submit it to mailto:eia@enron.com no later than 12 PM Thursday each week.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/06/2001
05:52 PM ---------------------------

"John D. Martin" <J_Martin@baylor.edu> on 03/25/2001 08:24:07 AM
To: Vince.J.Kaminski@enron.com
cc:
Subject: Re: Request

Vince,

I'm glad you liked it.  My next "Enron" task is to try and develop a better
understanding of the way you describe the use of BTU swaps to create a
synthethic multi-fuel plant.  I understand the basic concept but want to
learn more about the swaps (duration, cost, etc) which will impact a
company's decision to build a single vs multi-fuel generator.  Do you have
some example transactions or analyses that I might look over to learn more?

See ya in April (we're going to learn to "rope" calves this year).

Your friend,

John

At 06:03 PM 3/23/01 -0600, you wrote:
>
>John,
>
>Yes, I did. Looks great.
>Vince
>
>
>
>
>
>"John D. Martin" <J_Martin@baylor.edu> on 03/23/2001 05:02:05 PM
>
>To:   Vince.J.Kaminski@enron.com
>cc:
>Subject:  Re: Request
>
>
>Thanks Vince.  This is great.
>
>By the way, did you get copies of the journal with our paper?
>
>John
>
>At 04:59 PM 3/23/01 -0600, you wrote:
>>
>>John,
>>
>>No problem.
>>I look forward to it.
>>
>>Vince
>>
>>
>>
>>
>>
>>"John D. Martin" <J_Martin@baylor.edu> on 03/23/2001 09:04:44 AM
>>
>>To:   vkamins@enron.com
>>cc:
>>Subject:  Request
>>
>>
>>Vince,
>>
>>Would you mind making a few luncheon comments to the Texas Finance
>Festival
>>group at our sat luncheon?  I struck out with Andy and Sheridan thought
>>that you could relate very well to the group.  How about it?
>>
>>John
>>
>>John D. Martin
>>Carr P. Collins Chair in Finance
>>Finance Department
>>Baylor University
>>PO Box 98004
>>Waco, TX 76798
>>254-710-4473 (Office)
>>254-710-1092 (Fax)
>>J_Martin@Baylor.edu
>>web:    http://hsb.baylor.edu/html/martinj/home.html
>>
>>
>>
>>
>John D. Martin
>Carr P. Collins Chair in Finance
>Finance Department
>Baylor University
>PO Box 98004
>Waco, TX 76798
>254-710-4473 (Office)
>254-710-1092 (Fax)
>J_Martin@Baylor.edu
>web:    http://hsb.baylor.edu/html/martinj/home.html
>
>
>
>
John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
J_Martin@Baylor.edu
web:    http://hsb.baylor.edu/html/martinj/home.html


Please respond to TedHallMasa:

I enjoyed our evening together on the boat in Yokohama harbor very
much.  As promised, I have been in contact with Jeff Skilling at Enron.
He is interested in meeting with you.

I have been speaking with Jeff's assistant regarding appropriate dates
and mentioned the dates when you will be in New York in May.  I suggest
that your respective offices work together to settle the logistical
details.  Joannie Williamson will handle the arrangements for Jeff.
(e-mail: joannie.williamson@enron.com; phone: 713-345-7774)

I am sure you will have a very interesting conversation.

If I can help in any other way, please let me know.

Very best regards,

Ted

 - tedhall.vcf


Energy giants join wind bandwagon
National Post, 04/14/01

The Hindu-Editorial: Time for negotiations
The Hindu, 04/14/01

Dizzying offers create deregulation muddle
Houston Chronicle, 04/14/01

Enron controversy to dampen investor confidence in India: envoy
Agence France-Presse, 04/14/01

Pacific Gas & Electric owes us $570 million, Enron says
Deseret News, 04/14/01

Financial Post: News
Energy giants join wind bandwagon
Diane Francis
Financial Post

04/14/2001
National Post
National
D03
(c) National Post 2001. All Rights Reserved.

Times are grim for farmers, caught between sagging prices, subsidies and
livestock diseases.
But the energy crunch may provide North America's farmers with another,
lucrative line of work. Wind power has suddenly become viable and massive new
projects have been announced both on and offshore.
In January, the Bonneville Power Administration (a hydro-electric utility
operating in the Pacific Northwest) said it will buy 1,000 megawatts of wind
energy by 2003. That's enough to supply a city of 500,000 people.
Just before that announcement, another utility, FPL (Florida Power & Light)
Energy, announced plans to build the largest "wind farm" in the world with
turbines in Oregon and Washington, enough for 70,000 homes. Last year,
Texas-based Enron Corp., an energy conglomerate, had just finished 700
turbines in California, western Texas, Minnesota and Iowa.
A handful of Canadian entities have announced small-scale projects within the
past few months.
What has changed is that wind power can be generated economically without
subsidies, thanks to high fuel prices.
What has also changed is that the wind power technology has improved
dramatically. Equipment is less noisy and more attractive. Turbines have gone
up 20-fold in price, but can produce 120 times more power than a generation
ago.
Another concern was that the fast-moving blades of wind turbines were killing
birds. But newer designs are slower in speed and therefore less lethal.
North America is way behind Europe in alternative energy, mostly because it
is blessed with cheap, plentiful hydrocarbon sources. Only 1.5% of
environmentally activist California's power needs are generated from wind
turbines while Denmark and Germany depend on windpower for 6% of their
supplies. Washington would like 5% of U.S. electricity generated from wind by
2020.
But it already makes sense. Fuel costs are so high the wind business is even
profitable for small, independent farmers and landowners in breezy parts
(read prairies) of the United States and Canada. By harnessing the wind, they
can enhance their cash flow, keep their own lights burning brightly and look
after the neighbours or the local power grid, too.
Most significantly, in February, the world's biggest oil giant -- Royal Dutch
Shell Group -- waded in with an announcement it will construct a wind
mega-project or two. But Shell is going to create wind farms offshore, away
from urban development and political objections.
"Wind energy is set to be the major new offshore industry of the next
generation," Shell said in February.
"We believe that by deploying Shell's world-class commercial, technical and
financial capabilities to large and challenging projects we are confident
that we can become a major player in the global wind energy sector," David
Jones, executive vice-president of Shell's wind energy business, said at a
conference.
"Wind is the most competitive of the renewable energy sources when comparing
costs with conventional fuels," said Mr. Jones. "Wind energy production is
expected to increase rapidly as it moves offshore to achieve wind farms of
greater scale."
The company is evaluating offshore sites in North America and Europe and is
also involved in turbine manufacture. It operates small pilot projects in
Europe capable of meeting the needs of only a few thousand consumers.
Sir Mark Moody-Stuart, Shell's chairman, underscored the shift in energy
sources from hydrocarbons to wind, biomass and other renewables. He
maintained this is merely the continuation of a steady trend based on
consumer demands.
"The energy industry evolves giving products the customers want. In the last
century, there was mostly coal used, with few liquids, then liquids replaced
coal, then gas came along after World War II. History shows there has been a
steady de-carbonization of fuel from wood to coal to oil and gas," he said in
a panel I attended in February at the World Economic Forum in Davos,
Switzerland.
The world "must take the climactic threat seriously" by using hydrocarbons
more efficiently.
"We think we can make money at the moment out of wind, some out of biomass,
but not photovoltaics [batteries]," he added. "We want to meet the
aspirations and needs of our customers and society. It's both a commercial
challenge and a commercial imperative. We're just starting [wind power]
offshore, where people cannot object."
As for biomass, Shell has also been amassing forested acreage around the
world which will eventually be the feedstock for fuel production from plant
life.
"Wind indeed is ready for prime time," Ralph Cavanagh, energy program
director for the Natural Resources Defense Council, an environmental group
based in New York, said recently.
Another environmentalist, Worldwatch Institute's Seth Dunn, pointed in an
interview to a study by Shell showing that "by 2050, over 50% of primary
energy supply comes from renewables."

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

The Hindu-Editorial: Time for negotiations

04/14/2001
The Hindu
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire

THE CYCLE OF claims and counter-claims between the Maharashtra State
Electricity Board (MSEB) and the Dabhol Power Company (DPC) has reached a
point where the only way the imbroglio can be resolved is by renegotiations.
The process of both parties slapping claims on each other helps neither even
as it leaves unaddressed the basic problems in the project. The conciliation
and arbitration process that has begun is also unlikely to provide any
answers to the larger questions because it is about a specific issue - the
decision of the Central Government not to honour a counter-guarantee on a
demand of Rs. 102 crores by the DPC because the MSEB's own claim of Rs. 400
crores has not been settled - rather than about the deep flaws in the power
purchase agreement itself. With the Godbole Committee calling for
renegotiation to bring down the cost of Dabhol power, the Government of
Maharashtra will now have to shed its ambivalence about where it stands on
the project.
While DPC has always been aggressive in asserting its rights, it cannot but
be aware that it will be impossible for it to do business in the face of
hostile public opinion and the increasingly ambivalent attitudes of the State
and Central Governments as well. Given that in the U.S. the Enron Corporation
itself has begun to exit from the energy production business and focus on the
more profitable activity of energy trading this should be an additional
factor working in favour of a renegotiated contract. But the question is how
much such renegotiations will yield, for the fundamental problems of the
Dabhol project were and still are about a very high capital cost,
dollar-denominated tariffs and a contract for supply of liquefied natural gas
(LNG) which will (after the implementation of the second phase) make DPC
power all the more expensive if the plant were to operate at less than 80 per
cent capacity. The Godbole Committee has not recommended scrapping the larger
and more expensive Phase-II of the project and more disappointing for the
State Government is that it has refused to bear the responsibility of
renegotiations. It could not have been otherwise for a review committee can
only provide the broad contours of a solution. When new negotiations begin
with the DPC, as they now must lest the State and Central Government opt for
the more dangerous course of arbitration, the MSEB and the Government of
Maharashtra have to walk a tightrope. If the DPC were to be pushed too far it
could choose arbitration and an arbitration panel based in London is more
than likely to rule on the basis of narrow commercial considerations than on
grounds of public policy, which is what the controversies in the Enron power
project have all been about. On the other hand, renegotiations with a velvet
glove are unlikely to do more than tinker with the contract.
Fortunately for the State and the Centre, worries about what the global
investing community will feel about India exerting pressure on the DPC to
modify the contract are now acknowledged as being mistaken. Globally, the
flaws in the PPA have become so well-known that a Government that does not
re-open the agreement is less likely to command respect than one that drives
a new bargain in a transparent manner. In the process of looking afresh at
the Enron project it does not help if issues such as the poor finances of the
MSEB and the subsidies that it provides are brought into the picture. These
are issues that do need to be addressed but they are distinct from the
problems caused by expensive DPC power. Even if the failings of the MSEB are
dealt with it would not lighten the burden that the DPC now imposes on the
two Governments, the economy of Maharashtra and eventually on the national
economy as well.

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

A
Dizzying offers create deregulation muddle
MIRIAM MOYNIHAN
Staff

04/14/2001
Houston Chronicle
3 STAR
1
(Copyright 2001)

One company is trying to lure Houstonians away from Reliant Energy HL&P with
free electricity for the next two Decembers.
Another competitor offers a $25 credit to sign up.
A third company doesn't offer any particular incentive.
So far, four retail ventures - The New Power Co., First Choice Power, Green
Mountain Energy Co. and Shell Energy Co. - are offering lower rates for
customers of HL&P. But a consumer can get lost trying to pick the best one.
A close look suggests that the company with the plainest offer may be the
best deal for consumers fearing all the unknowns. But it depends.
Welcome to electric deregulation.
Texans are getting their first taste of how competition will be when the
deregulation law goes fully into effect on Jan. 1. So far, the results of the
pilot program show it needs work. Price information is hard to come by, the
promotions can be confusing and the potential savings may not add up to much.
With the sign-up period under way for the Texas Electric Choice pilot
program, for the first time Houston consumers can choose from which company
they'll buy electricity. It's important that new competitors win over lots of
customers, because in the future, electric rates in Texas will be based on
competition rather than regulation.
In the newspaper, on television and on the Internet, ads are urging consumers
to sign up by phone or online and trim painfully high electric bills.
The simplest way to break down the cost is by looking at the average cost per
thousand kilowatt-hours. A bit of multiplication shows that at Reliant's
average current rate - 10.13 cents per kwh - 2,000 kilowatt hours would cost
$202.60. So Shell's rate of 9.3 cents would save a consumer nearly $15 a
month.
But shoppers looking to dump Reliant must wrestle with a lot of unknowns. The
actual savings will be affected by future rate changes, monthly fees and
special offers by the providers.
And getting the details to answer those questions can be difficult, said
Janee Briesemeister, senior policy analyst at the Austin office of Consumers
Union.
"They're being very vague in what they can promise," she said.
There is a lot of information out there if you have a telephone, an Internet
connection and a few hours to kill.
But keep your calculator handy. A representative of Shell Energy wasn't able
to do the math when asked how much 2,367 kilowatt-hours would cost during
August.
Also, be wary of promises that sound too good to be true.
A telephone representative from New Power gave a series of rates radically
lower than the other companies, but the fuel charge - a considerable part of
the cost - wasn't included in the price. When asked if that had been
included, the representative didn't seem to know what it was.
Business customers in Houston have signed up in droves for the nonresidential
portion of the pilot program.
But so far, this test of deregulation hasn't been a big hit with Houston
consumers. Retail electricity providers have drawn 25,625 residential
customers away from HL&P, according to the latest figures from the Texas
Public Utility Commission. That's about 42 percent of the goal officials are
seeking for the pilot.
Much as competing long-distance phone providers sell their services using
lines that are already there, beginning June 1, retail electricity companies
will run power through HL&P's existing lines and pay a fee to the
investor-owned utility.
Since the new providers don't have the cost of maintaining poles, wires and
other facilities, they can offer lower prices per kilowatt- hour - the
industry benchmark meaning the amount of energy needed to light a 100-watt
light bulb for 10 hours.
"We can purchase the electricity using our size and global strength on the
market at a much lower rate than the utility can charge," said Patricia Betz,
marketing manager for Shell Energy, an affiliate of Shell Oil Co.
But consumers need to understand that since it hasn't been done before in
Houston, it carries some risk.
"There's no guarantee that everything will work right," said Briesemeister.
"The companies need to do a better job of saying that."
"That's why it's called a pilot. And it serves an important function - to see
if everything works," she said.
Making apples-to-apples price comparisons is difficult.
The Public Utility Commission's Web site on the pilot program -
www.powertochoose.org - recommends that consumers check the Electricity Facts
Label of each program. But to find that item you need to go to the Terms and
Conditions section of each company's Web site.
In some cases, the prices posted there aren't the same as what's quoted by
company officials over the phone because the prices on the Web are adjusted
to include the added cost of the monthly fee.
But the most straightforward offering comes from Shell Energy.
It is quoting a flat rate of 9.3 cents per kilowatt-hour year- round. Its
monthly service charge is $2 or $5, depending on the method of payment. Shell
Energy doesn't require a contract and is also staying away from special
incentives.
"Electricity pricing is complicated," said Betz. "We're trying to make it as
simple as possible for consumers to understand."
But there's nothing simple about it.
"If they want to compare apples to apples, look at the Electricity Facts
Label, because they have to determine that in the exact same way," said
Carrie Collier, a legislative analyst at the Public Utility Commission. "We
can't tell them how to market their electricity, but . . . what we've told
them is that they have to provide standardized information for customers."
So, what exactly are they promising?
"We'll always be cheaper than the utility," said Betz of Shell.
She said the company does not foresee raising the rate during the pilot
program, but it's not a guarantee because rising fuel costs could mean higher
rates.
"We're all subject to the same market forces," Betz said, "so it's possible
your rates will go up."
First Choice Power, an affiliate of Texas-New Mexico Power Co., is offering a
rate of 9.4 cents per kilowatt-hour, with a $4.95 monthly service charge.
"The offer is good for the life of the pilot," said Jim Niewald, First
Choice's director of marketing. But he doesn't know how prices will be
affected after that.
His company requires a contract and gives a $25 credit on the first bill. It
also plans contests to give away plane tickets, cash and T-shirts.
Green Mountain Energy Co.'s rate is a bit higher - 9.8 cents per
kilowatt-hour plus $4.95 a month - but the company is touting wind- powered
energy.
"We're the only clean-power option in Houston," said Gillan Taddune, vice
president of Texas region. "And I think that's definitely a benefit."
The New Power Co. - a marketing joint venture of Enron Corp., AOL and IBM -
has two plans. One is a fixed rate of 9.3 cents per kilowatt-hour.
That company is offering free Decembers for two years but has a $30
cancellation fee if a customer chooses to switch before the contract ends.
But that rate, confirmed by the company's Web site, was far different from
the one quoted by phone recently.
A New Power customer service representative quoted a price of 4.5 cents for
up to 250 kwh from May through October, and 7.1 cents after that. And for
November through April, the price quoted was 4.2 cents.
The real rate is higher because the representative hadn't included the fuel
charge of 3.9 cents per kilowatt-hour that is added on.
One reason consumers should consider their options is that the rates from
Reliant will be going up again soon. The utility company - whose rate now
starts at 9.75 cents per kilowatt-hour - is in the process of getting a rate
increase to cover higher fuel costs approved by the PUC.
"We're hoping to have interim rates in place by the end of April," said
Reliant spokeswoman Leticia Lowe.
The PUC has the power to review whether this fuel price adjustment is
justified, though these requests usually go through with little change.
Reliant's deregulated competitors do not have their rates reviewed by state
regulators.
But starting Jan. 1, when the deregulation law takes effect, Reliant will be
able to drop its base rate by 6 percent.
"In the pilot, consumers are comparing current rates," said Briesemeister.
But down the line, the utility will get more competitive, she said.
While up to 5 percent of residences currently served by Reliant can sign up,
industry experts are unsure if that many will actually participate.
"Residential customers traditionally are slower to enter the market," said
Collier. "The dollar incentive is greater if your bills are higher. For that
reason, the industrial customer has more incentive to switch."
Janet Tuttle of Katy has taken the leap and signed with Shell. She heard
about the pilot program on the evening news.
"I've got two in college," she said, "so I'm trying to cut the costs wherever
I can."
...
Retail electricity rates
Four companies are currently offering competing electricity service to
customers of Reliant Energy HL&P. Prices listed here are quoted by the
companies based on usage of 1,000 kilowatt-hours. For a more detailed
breakdown, see www.puc.state.tx.us/electric/ projects/22834/reliant.pdf.
Also, check New PowerOs Web site for its alternate plan.
Company .. Monthly charge .. Rate per kilowatt-hour .. Incentives .. Penalty
for early cancelation
The New Power Co. / www.newpower.com / 877-901-7059 .. $3 .. 9.3 cents .. Two
free Decembers .. $30
Shell Energy / www.shellenergy.com / 800-24-SHELL .. $2 or $5 .. 9.3 cents ..
None .. None
First Choice Power / www.firstchoicepower.com / 866-469-2464 .. $4.95 .. 9.4
cents .. $25 credit .. Forfeit credit
Green Mountain Energy Co. / www.greenmountain.com / 866-473-3689 .. $4.95 ..
9.8 cents .. Power Perks discount card .. None

Graph: Retail electricity rates (p. 14, TEXT)

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

Enron controversy to dampen investor confidence in India: envoy

04/14/2001
Agence France-Presse
(Copyright 2001)

NEW DELHI, April 14 (AFP) - A controversy over US energy giant Enron's
subsidiary in India will dampen investor confidence and have a negative
impact on foreign investment, Washington's outgoing ambassador said Saturday.
In an interview published in the Economic Times, Richard Celeste said the
treatment of the subsidiary, Dabhol Power Corporation (DPC), "will have a
substantial (negative) impact on large investors."
The DPC, the single largest foreign investment project in India, has been
mired in controversy since its inception.
The deal was signed in 1993, but was scrapped in 1995 by the state's newly
installed Hindu nationalist government.
The project was renegotiated the same year and work began for the first phase
of the project, which began generating 714 megawatts of electricity in 1999.
Construction for phase 2 is ongoing, but opposition to the project has
resurfaced over the cost of electricity, with the Maharashtra state chief
minister Vilasrao Deshmukh saying that the government was being billed almost
8.00 rupees (18 US cents) per kilowatt hour for the electricity produced by
Enron.
Earlier this year, the cash-strapped Maharashtra electricity board said it
could no longer meet payments due to DPC.
This led to the DPC invoking a counter guarantee clause in the agreement,
after which part of its dues were recovered.
With a susbtantial portion of its dues still unrecovered, the DPC this week,
invoked a "force majeure" notice.
The notice warned that it maybe be unable for the company to perform its
contractual obligations, due to the "concerted, deliberate and politically
motivated actions" of the state and federal government as well as the
Maharashtra electricity board.
Urging the government to create an adequate environment for investors,
Celeste warned: "The (DPC) problem will have a large impact on India's
ability to raise large amounts of capital."
er/am

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

Pacific Gas & Electric owes us $570 million, Enron says

04/14/2001
Deseret News
B08
Copyright (c) 2001 Deseret News Publishing Co.

HOUSTON (AP) -- Enron Corp. says the utility Pacific Gas & Electric Co. owes
the energy company $570 million, according to a letter to the utility's
bankruptcy trustee.
Mark Palmer, an Enron spokesman in Houston, said the company has taken
adequate reserves to protect its balance sheet against any outstanding debts
owed it by Pacific Gas & Electric.
But Enron's disclosure was the first indication of how much the West Coast
utility owes the Houston company.
Enron was one of the companies named late Wednesday to the creditors'
committee for San Francisco-based Pacific Gas & Electric's Chapter 11
bankruptcy case. The committee represents the parties with the largest claims
in a bankruptcy case.
Enron officials cited the utility's unpaid debt to secure a seat on the
committee appointed by U.S. Trustee Linda Stanley, a Justice Department
official.
A week ago, Pacific Gas & Electric filed for bankruptcy protection because
negotiations with California over how to resolve the state's power crisis
were going nowhere. Pacific Gas & Electric sells electricity and natural gas
to the San Francisco and Northern California areas.
Earlier this week, a federal judge ordered Enron to keep supplying low-cost
power to California's state university systems after Enron tried to shift
responsibility for buying the school's power to the state's troubled
utilities.

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


[IMAGE]
 Anna Kournikova Exclusive Fantasy Offer!  Save 10% on Anna's 2002 Calendar! Yes 12 months of Anna!  Simply enter the coupon code FNTSYCAL in step 5 of the checkout process to receive your discount.  Offer expires 11/30/01.  http://www.sportsline.com/links/6/1/135/sffer1120tr.cgi   Attention Fantasy Fans!  Subscribe to The Sporting News  now and get 4 FREE issues! 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    NFL Reports, Player Updates  [IMAGE]Latest NFL Player News  Jason Brookins , RB BAL - Not So Nice Machine Updated 11/26/01 Brookins is expected to miss the rest of the season with a broken foot. Moe Williams will probably become Baltimore's No. 1 RB now, and the Ravens may add another RB to their roster in the next few days.  Kevan Barlow , RB SF - Who's Yo Daddy Updated 11/26/01 Barlow dislocated his left shoulder Sunday. His status for next week has not been determined yet.  James Jackson , RB CLE - The Snake Pit Updated 11/26/01 Jackson re-aggravated his ankle injury on Sunday. His current status is day to day.  James Jackson , RB CLE - The Snake Pit Updated 11/26/01 Jackson re-aggravated his ankle injury on Sunday. His current status is day to day.  Peter Warrick , WR CIN - The Executioners Updated 11/26/01 Warrick is listed as questionable for Sunday's game against the Buccaneers. He was taken for X-rays on his injured shoulder in the second quarter of Cincinnati's Week 11 loss to the Browns.  Jon Kitna , QB CIN - The Snake Pit Updated 11/26/01 Kitna will keep the starting job for the Bengals despite being benched at halftime against the Browns. He was replaced by an ineffective Scott Mitchell, who was then lifted for Akili Smith late in the game. None of the Bengals' QBs are worth using in Fantasy leagues right now.  Keenan McCardell , WR JAC - One Man Show Updated 11/25/01 McCardell caught six passes for 80 yards against Baltimore. He has certainly raised the level of his play in recent weeks, and should be a solid Fantasy player down the stretch as opponents continue to focus on Jimmy Smith.  Stacey Mack , RB JAC - Thrill Kill Cult Updated 11/25/01 Mack rushed for 50 yards and two TDs and caught five passes for 45 yards against the Ravens. Despite his good outing, Mack remains a Fantasy risk because of his inconsistency.   Qadry Ismail , WR BAL - North Blvd Nutwhackers Updated 11/25/01  The Jaguars held Ismail to three catches for 44 yards. Despite his quiet statistical performance, Ismail remains a must-start player for any Fantasy team. He is one of the most complete and underrated receivers in the AFC.  Jason Brookins , RB BAL - Not So Nice Machine Updated 11/25/01 Brookins rushed for 82 yards and two TDs at Jacksonville, but also lost a fumble. The rookie RB is talented, but too erratic to be a Fantasy starter on most teams right now.  Ron Dayne , RB NYG - Not So Nice Machine Updated 11/25/01 Dayne carried the bal! l ! six times for 26 yards against Oakland. Don't depend on him for good numbers during the remainder of the season.  Tiki Barber , RB NYG - The Executioners Updated 11/25/01 Barber rushed for 124 yards and a TD against Oakland, and caught five passes for 41 yards. He has played well recently, although his owners would still like to see him score on a more consistent basis.  LaDainian Tomlinson , RB SD - The Executioners Updated 11/25/01 Tomlinson was held out of the end zone, but he had a good day against Arizona nonetheless. The rookie tailback had 145 scrimmage yards, including 13 receptions, in San Diego's 20-17 loss.   Doug Flutie , QB SD - Thrill Kill Cult Updated 11/25/01 Flutie had a solid game, throwing for 308 yards and two touchdowns against Arizona. However, he's only worth starting when the matchup is to his advantage.   Jake Plummer , QB ARI - oops, I did it again Updated 11/25/01 Plummer had a decent outing on Sunday, posting 241 yards and a touchdown again! st! San Diego. Plummer, who also threw two picks, is only a reserve Fantasy quarterback at best.   David Boston , WR ARI - The Fat Bastards Updated 11/25/01 Boston had another outstanding game, catching six passes for 121 yards and a touchdown against San Diego. He's one of the most reliable Fantasy receivers in the league, and is worth starting on a weekly basis.   Willie Jackson , WR NO - The Fat Bastards Updated 11/25/01 Jackson had a good outing against New England, catching five catches for 78 yards and a touchdown. He may not be the most dependable Fantasy receiver, but he is worth starting in deeper leagues.   Joe Horn , WR NO - The Lie Downs Updated 11/25/01 Horn had another solid outing, catching four passes for 97 yards against New England. He's been a very dependable receiver in recent weeks and is worth starting on a weekly basis.  Tyrone Wheatley , RB OAK - One Man Show Updated 11/25/01 In his return from a knee injury, Wheatley carried the ball ! fi! ve times for 17 yards. Zack Crockett was used more often in short-yardage packages, and Wheatley does not appear capable of starting for any Fantasy team in the near future. Even when he is fully healthy, he may not be able to take many carries away from Charlie Garner.  Antowain Smith , RB NE - The Guzzlers Updated 11/25/01 Smith had 153 yards of total offense and two touchdowns against New Orleans. After a slow start, Smith has become a pretty good weekly option for Fantasy Footballers  Tom Brady , QB NE - The Executioners Updated 11/25/01  Brady put up huge numbers against New Orleans, posting 258 yards passing and four touchdowns. He's become a pretty reliable Fantasy player, and his performance will likely keep Drew Bledsoe on the Patriots' bench for another week.  Rich Gannon , QB OAK - The Executioners Updated 11/25/01 Gannon threw for 221 yards, three TDs and no interceptions against the Giants. He ignored rain-soaked conditions, and continued to look like the most reliable QB in Fantasy Football.  Frank Sanders , WR ARI - North Blvd Nutwhackers Updated 11/25/01 Sanders! l! eft Sunday's game against San Diego after re-aggravating a hamstring injury. He was replaced by MarTay Jenkins, and did not return to the game.  Eric Moulds , WR BUF - Who's Yo Daddy Updated 11/25/01 Moulds finally emerged from an extended slump, catching six passes for 196 yards and two TDs against Miami. He also lost a fumble, and Fantasy owners should still remember that Moulds has been a disappointment for most of the year. Don't be surprised if he follows his best outing of the year with a mediocre performance.  Alex Van Pelt , QB BUF - Free Agent Updated 11/25/01 Van Pelt had another fine game, throwing for 309 yards, three TDs and one interception. He is definitely merits strong Fantasy consideration as long as he remains in Buffalo's starting lineup.  Oronde Gadsden , WR MIA - Thrill Kill Cult Updated 11/25/01 Gadsden caught eight passes for 118 yards at Buffalo. He did not catch a TD pass, though, and lost a fumble. Gadsden is too unreliable to start for most Fantasy teams in these important final weeks.  Jay Fiedler , QB MIA - Meximullets Updated 11/25/01 Fiedler threw for 262 yar! ds! , three TDs and no interceptions at Buffalo. His performance may have quieted talk of a QB controversy, but Fiedler is still too inconsistent to be a dependable Fantasy QB.  Donovan McNabb , QB PHI - North Blvd Nutwhackers Updated 11/25/01 The Redskins held McNabb to 92 passing yards and 39 rushing yards, with no TDs or interceptions. Expect the Philadelphia QB to rebound quickly from such a quiet performance.  James Thrash , WR PHI - The Fat Bastards Updated 11/25/01 Thrash caught four passes for 32 yards against Washington. He is too inconsistent to be a starter on better Fantasy teams as the playoffs approach.   Rod Gardner , WR WAS - Not So Nice Machine Updated 11/25/01 Gardner caught four passes for only 33 yards on Sunday. The rookie has slowed down considerably in the past few weeks, and now seems like a risk during the Fantasy homestretch.   More Updates  Transactions, 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.      Schedule, Breakdown  [IMAGE] The Executioners Player Pos Points Gannon, Rich  QB 42.0 Davis, Stephen  RB 7.0 Tomlinson, LaDainian  RB 30.0 Booker, Marty  WR 3.0 Carter, Cris  WR 7.0 Warrick, Peter  WR 2.0 Gonzalez, Tony  TE 9.0 Vinatieri, Adam  K 4.0 Jets  DT 0.0   [IMAGE] TOTAL   104.0   [IMAGE] Williams, Roland  TE 1.0 Bledsoe, Drew  QB 0.0 Barber, Tiki  RB 30.0 Brady, Tom  QB 56.0 Canidate, Trung  RB 0.0 Connell, Albert  WR 4.0 Jefferson, Shawn  WR 3.0   [IMAGE] at The Lie Downs Player Pos Points Culpepper, Daunte  QB 37.0 Henry, Travis  RB 15.0 Smith, Lamar  RB 10.0 Horn, Joe  WR 8.0 Johnson, Keyshawn  WR 0.0 Morton, Johnnie  WR 7.0 Sloan, David  TE 0.0 Vanderjagt, Mike  K 3.0 Titans  DT 2.0   [IMAGE] TOTAL   82.0   [IMAGE] Engram, Bobby  WR 1.0 Stewart, James  RB 15.0 Buckhalter, Correll  RB 1.0 Jones, Thomas  RB 3.0 Mason, Derrick  WR 17.0 Price, Peerless  WR 2.0 Weinke, Chris  QB 28.0   [IMAGE]  Copyright 2001 Commissioner.COM Inc and SportsLine.com Inc. Your site can be reached from http://fantasy.sportsline.com   FB10SP


I think I will be out of town---can you attend Andy?


Do you use temporary help in the administrative or clerical area?
Getting good people just got easier!

Introducing Contingent Staffing Solutions, an Enron innovation brought to you
by Global Strategic Sourcing and Human Resources.

Contingent Staffing Solutions is your one-stop source for temporary
administrative and clerical workers.

The program is designed to provide you with:
  ?     Better quality workers
? Faster, more cost efficient service
? Expanded reporting

Plus, the program will soon enable you to access ordering and reporting
online, through the Enron intranet.

The program currently encompasses only administrative and clerical temporary
employees.  It will be expanded to other temporary and contract areas in the
future.

Would you like to know more about Contingent Staffing Solutions?

Join us Friday, April 6, at 11:30 a.m. to 12:30 noon, in EB5C2, for a
45-minute presentation on the new program.

Bring your lunch and we,ll provide cookies and drinks. Plus, register to win
two tickets to an upcoming Astros game.

For more information, please call Contingent Staffing Solutions at
713.345.6899 or George Weber from Global Strategic Sourcing at X5.6198.


Jim,

I am scheduled to arrive in Austin on May 4 at 10:32 a.m.
I shall be glad to join you and a group of your colleagues for lunch.
I am flying back to  Houston Friday morning and we can meet for dinner after
the class.

I shall have a Power Point presentation on my PC. I can also
prepare a set of transparencies if this is more convenient for you.

Vince

Jim Dyer <Jim.Dyer@bus.utexas.edu> on 04/27/2000 05:44:51 AM
To: "'Vince.J.Kaminski@enron.com'" <Vince.J.Kaminski@enron.com>
cc: Sheridan Titman <Sheridan.Titman@bus.utexas.edu>
Subject: Real Options

Vince,

 I am traveling at this time, attending a NSF meeting in Washington.
However, I wanted to touch base regarding plans for your presentation in my
class on real options next Thursday (May 4).  As you recall, the class is
from 3:30 to 6:30, and you could plan to take a significant part of that
time for your presentation.  Sheridan Titman has agreed to join us after his
class at about 6:00 for a 30 minute "panel discussion" with the students on
issues related to real options in practice.l

 I am not sure about your travel plans, but we would be happy to plan
lunch on Thursday with several of my colleagues.  I would also be delighted
to be your host for dinner on Thursday night if that is convenient for you.

 I'll be back in my office on Monday, and will look forward to
hearing from you.

 Jim

James S. Dyer
Fondren Centennial Chair in Business
Department of Management Science and Information Systems
CBA 5.202
The University of Texas at Austin
Austin, Texas 78712-1175

Email:  j.dyer@bus.utexas.edu
Telephone:  512-471-5278
Fax:  512-471-0587


Standard ownership change is fine.

From: Tana Jones on 10/10/2000 03:27 PM
To: Tanya Rohauer/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, Susan
Bailey/HOU/ECT@ECT
cc: Tony Pryor/ET&S/Enron@ENRON
Subject: Northern Natural Gas Company

It has been brought to my attention that we have done several internal trades
the last few days with the referenced wholly owned Enron company (right
Tony?!).  With Tanya's approval, we need to get out an ISDA Master between
Northern and RMT with no credit except the standard change of ownership
clauses.   If that is OK with Tanya, Susan, can you pass on this master to
the next paralegal in the rotation.  Tony will attend to getting the master
signed from Northern's side.

Thanks.


-----Original Message-----
From: 	Rangel, Ina
Sent:	Tuesday, November 20, 2001 9:07 AM
To:	Heu, Mog; Huang, Jason; South, Steven P.; Ermis, Frank; Reitmeyer, Jay; Scott, Susan M.; Gay, Randall L.; Tholt, Jane M.; Lenhart, Matthew; Grigsby, Mike; Kuykendall, Tori; Smith, Matt; Holst, Keith; Allen, Phillip K.; Sullivan, Patti
Subject:	Pre-Bid Meeting

Today's Pre-Bid Meeting will be held in 05075 from 3:00 PM to 5:00 PM

Patti:  Please pass on to the schedulers.


Hi Rusty,

Just checking to make sure you got this email.

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/01/2000 10:38
AM ---------------------------

	Enron North America Corp.

	From:  Kay Mann                           08/30/2000 02:59 PM

To: "Way, Karen S. - CHI" <karen.way@piperrudnick.com>
cc: Fred Mitro/HOU/ECT@ECT, Rusty Stevens/Corp/Enron@ENRON

Subject: Re:

Glad you wrote, since I need to send you this option agreement for your
review:

I will chase down the fax and give it a look.

Thanks,

Kay


Jim:
As we discussed and per your request, the attachment entitled ECAR, MAIN, MAPP contains my recommendation and reliability council contacts for replacing me on various committees and panels.

The attachment entitled Sprint contains information regarding the termination of the Enron cell phone.

On Wednesday, I will terminate all phone service associated with the Enron Bismarck office.

Please contact me with any questions.


If you want to be on the plaintiffs

	"David Noonan" <djn@pkns.com>
	03/20/2001 01:06 PM

		 To: <GFergus@brobeck.com>, <Mmolland@brobeck.com>,
<richard.b.sanders@enron.com>, <Jalexander@gibbs-bruns.com>,
<rgibbs@gibbs-bruns.com>, <enron.com.dcastro.jfrizzel@pkns.com>
		 cc: "Michael Kirby" <mlk@pkns.com>
		 Subject: Fwd: Power Outage Today

As you can see from the attached this may not be the best week in San Diego
for arguing the Stay motion. There were rolling blackouts in San Diego
yesterday and the situation dominated the news. Because of unseasonably warm
weather they may persist throughout the week. I've just been advised that our
power will be going out shortly for at least an hour.

Dave

David J. Noonan
Post Kirby Noonan & Sweat L.L.P.
600 West Broadway, Suite 1100
San Diego, CA  92101
Phone:  619/231-8666
Facsimile:  619/231-9593
E-Mail:  djn@pkns.com

The information contained in this e-mail message and any accompanying
documents is subject to the attorney-client privilege and/or the attorney
work product rule and is confidential business information intended only for
the use of the individual or entity named above.  If the reader of this
message is not the intended recipient or representative of the recipient, you
are hereby notified that any dissemination of this communication is strictly
prohibited.  If you have received this communication in error, please notify
the Systems Administrator at admin@pkns.com and immediately delete this
message from your system.
Content-Transfer-Encoding: quoted-printable
Date: Tue, 20 Mar 2001 09:14:08 -0800
From: "Kathryn Pugh" <kpugh@pkns.com>
To: <abr@pkns.com>,<babs@pkns.com>, <bcrena@pkns.com>, <bhagar@pkns.com>,
<blh@pkns.com>, <bwayne@pkns.com>, <candor@pkns.com>, <cfred@pkns.com>,
<cmc@pkns.com>, <csnider@pkns.com>, <daj@pkns.com>, <daph@pkns.com>,
<dbo@pkns.com>, <dcastro@pkns.com>, <djn@pkns.com>, <djt@pkns.com>,
<dmb@pkns.com>, <eboyer@pkns.com>, <glg@pkns.com>, <hoge@pkns.com>,
<jab@pkns.com>, <jcc@pkns.com>, <jlance@pkns.com>, <jlw@pkns.com>,
<jmason@pkns.com>, <jmj@pkns.com>, <jms@pkns.com>, <jroland@pkns.com>,
<kcool@pkns.com>, <kdillon@pkns.com>, <kia@pkns.com>, <kpugh@pkns.com>,
<kristen@pkns.com>, <les@pkns.com>, <liz@pkns.com>, <mam@pkns.com>,
<mariana@pkns.com>, <meg@pkns.com>, <mjk@pkns.com>, <mlk@pkns.com>,
<mpw@pkns.com>, <msm@pkns.com>, <nba@pkns.com>, <njbliss@pkns.com>,
<pbowman@pkns.com>, <post@pkns.com>, <psh@pkns.com>, <rbaran@pkns.com>,
<rguinn@pkns.com>, <sandralackey@pkns.com>, <sbe@pkns.com>, <scm@pkns.com>,
<shc@pkns.com>, <soh@pkns.com>, <stc@pkns.com>, <sweat@pkns.com>,
<sws@pkns.com>, <syl@pkns.com>, <tbettles@pkns.com>, <tbrehl@pkns.com>,
<TEMP1@PKNS.COM>, <temp2@pkns.com>, <TEMP3@PKNS.COM>, <TEMP4@PKNS.COM>,
<TEMP5@PKNS.COM>, <Temp6@PKNS.COM>, <Temp7@PKNS.COM>, <Temp8@PKNS.COM>,
<Temp9@PKNS.COM>, <vduran@pkns.com>, <vickieb@pkns.com>, <wonell@pkns.com>
Subject: Power Outage Today
Mime-Version: 1.0
Content-Type: text/plain; charset=US-ASCII
Content-Disposition: inline

We have been informed by the building management that our building is on the
list for power shutdown today.  We are No. 13 and they currently are on No.
9.  We don't know exactly when this will happen and we probably will not get
further warning.  Most likely it will last about an hour.  Be sure to save
computer work product frequently.  Shut your computer off if you are not
going to use it  and try to close out of programs when not in use.

We should have continuation of phone service as there is  a backup battery.
You should stay and work if you can, however, we will not have HVAC so if the
air gets too bad you are free to leave via the stairwells.  Please check back
after an hour with building security to see if the power has been restored.


As you are aware, Enron utilizes temporary staffing services to satisfy
staffing requirements throughout the company.  For the past several months, a
project team, representing Enron,s temporary staffing users, have researched
and evaluated alternative Managed Services programs to determine which source
would best meet our current and future needs in terms of quality, performance
and cost containment objectives.  The Business Unit Implementation Project
Team members are:

Laurie Koenig, Operations Management, EES
Carolyn Vigne, Administration, EE&CC
Linda Martin, Accounting & Accounts Payable, Corporate
Beverly Stephens, Administration, ENA
Norma Hasenjager, Human Resources, ET&S
Peggy McCurley, Administration, Networks
Jane Ellen Weaver, Enron Broadband Services
Paulette Obrecht, Legal, Corporate
George Weber, GSS

In addition, Eric Merten (EBS), Kathy Cook (EE&CC), Carolyn Gilley (ENA),
Larry Dallman (Corp/AP), and Diane Eckels (GSS) were active members of the
Selection Project Team.

As a result of the team,s efforts, we are pleased to announce the beginning
of a strategic alliance with CORESTAFF,s Managed Services Group.  This group
will function as a vendor-neutral management entity overseeing all staffing
vendors in the program scope. They will also provide a web based online
technology tool that will enhance the ordering and reporting capabilities.
The goal of our alliance with CORESTAFF is to make obtaining a temporary
worker with the right skills and experience easier while protecting the best
interests of the organization.

We plan to implement Phase I of this improvement effective January 2, 2001.
This Phase I of the implementation will encompass administrative/clerical
temporary workers at the Houston locations only. If you currently have
administrative/clerical temporary workers in your department, the enhancement
will not affect their position. In an effort to preserve relationships, all
current staffing vendors will be invited to participate in this enhanced
program.  CORESTAFF shares our commitment to minimize any disruptions in
service during this transition.

We expect to incorporate the administrative/clerical workers in Omaha,
Seattle and Portland in Phase II, which is scheduled for February, 2001.  The
scope and timing of any additional phases will be determined after these two
phases have been completed.

Realizing the impact that the temporary workforce has in business today, we
selected CORESTAFF,s Managed Services Group based on their exceptional
management team, commitment to quality service, and creative solutions to our
staffing needs.  The relationship promises to offer Enron a cost effective
and simple means for obtaining temporary employees.

In the coming weeks, Enron and CORESTAFF,s Managed Services Group will be
communicating to Enron,s administrative/clerical temporary staffing vendors
about the new process.

There are many benefits to this new Managed Services program, which are
outlined on the attached page.  More details on how to utilize CORESTAFF,s
Managed Services program will be announced soon and meetings will be
scheduled to demonstrate the reporting system and to meet the Managed
Services team.

What is Managed Services?

CORESTAFF,s Managed Services program includes:

? Vendor-neutral management model
? Equal distribution of staffing orders to all staffing partners
? Web-based application with online ordering, data capture and customized
reporting
? Benchmarking and performance measurement for continuous improvement
? Methodologies for accurate skill-matching and fulfillment efficiencies

Key Benefits

? More vendors working on each order from the outset ) faster access to
available talent pools
? Standardized mark-ups and fees to manage costs more effectively
? Online access to requisition status for users
? Robust databases offering managers enhanced tracking and reporting of
temporary usage and expenditures
? Standard and customized reporting capabilities -- online
? Tenured, experienced Managed Services team on-site to assist users in
accessing web site, identifying usage trends, preparing specialized reports,
etc.

Corestaff/Managed Services/Staffing

Joseph Marsh ) Lead / Operations (josephm@corestaff.com; 713-438-1400)
Amy Binney, Sharon B. Sellers ) Operations
Cherri Carbonara ) Marketing / Communications
Cynthia Duhon )Staffing Partner management


---------------------- Forwarded by Dana Davis/HOU/ECT on 02/16/2001 10:32 AM
---------------------------

	Lola Willis @ ENRON
	02/16/2001 10:21 AM

To: debra_atkins@co.harris.tx.us, sweetp@netropolis.net, bill481@excite.com,
Sonya.Clay-Lewis@Halliburton.com, Tammy_D_Cooper@ReliantEnergy.com, dana
davis@enron.com, glenetta_godfrey@valic.com, valerie.mims@bankofamerica.com
cc:
Subject: Only in THE GREAT STATE OF Texas

---------------------- Forwarded by Lola Willis/Corp/Enron on 02/16/2001
10:19 AM ---------------------------
From: Laura Gutierrez/ENRON@enronXgate on 02/16/2001 09:26 AM
To: Laura Gutierrez/ENRON@enronXgate
cc:  (bcc: Lola Willis/Corp/Enron)

Subject: Only in THE GREAT STATE OF Texas

Only in Texas!!

- tex_31.jpg


The Enron Global Markets - Office of the Chairman has scheduled an off-site
planning session for February 23-25, 2001. (Please disregard any previous
date information you may have received.)  It is very important that each
person on the distribution list of this message mark their calendar now and
make every effort to attend the off-site session.

The information for the off-site meeting is as follows:

Date/Time: Friday, February 23rd through
  Sunday, February 25th

Location: The Delano Hotel
  Miami Beach, Florida

Arrangements have been made for hotel reservations for each person.  However,
each attendee is responsible for their own flight arrangements.  Flight
suggestions and more detailed off-site information will be forwarded as soon
as it has been finalized.

In order to provide an accurate head-count to the hotel, it is important that
you confirm your attendance today (Friday) by contacting Jennifer Burns at
X-39440 or jennifer.burns@enron.com by 2:00 p.m.  If you have any questions,
please feel free to contact Jennifer or Cathy Phillips at X-36898.

We look forward to seeing you at the off-site.  Thank you.


Guys, I assume you are keeping an eye on "California East".  Any help you can
give Kevin would be much appreciated.

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 12/17/2000
06:36 PM ---------------------------

	Enron North America Corp.

	From:  Kevin M Presto                           12/15/2000 07:39 AM

To: David W Delainey/HOU/ECT@ECT
cc:
Subject: NYPSC Interim Pricing Report on ISO

---------------------- Forwarded by Kevin M Presto/HOU/ECT on 12/15/2000
07:40 AM ---------------------------

	Enron North America Corp.

	From:  Kevin M Presto                           12/15/2000 07:32 AM

To: James D Steffes/NA/Enron@Enron
cc: John J Lavorato/Corp/Enron@Enron, Dave Delainey, Mark Dana
Davis/HOU/ECT@ECT, Tom May/Corp/Enron@Enron
Subject: NYPSC Interim Pricing Report on ISO

This NY cap proposal must be prevented.   The proposal is essentially
cost-based regulation.   Obviously, if the proposal below was adopted by NY,
Enron's ability to make money is greatly diminished.   In addition, it has
significant effects on the rest of the market in terms of regulatory
uncertainty in the forward markets.

In the past, FERC has ruled to make caps consistent in all 3 NE regions (NY,
NE, and PJM), which leads to quasi caps in the rest of the Eastern
Interconnect.

Jim,
We need an action plan ASAP.   Please coordinate with Dana, Tom May, and
myself.

---------------------- Forwarded by Kevin M Presto/HOU/ECT on 12/15/2000
07:22 AM ---------------------------

Tom May@ENRON
12/14/2000 06:13 PM
To: Mark Dana Davis/HOU/ECT@ECT, Kevin M Presto/HOU/ECT@ECT
cc: Narsimha Misra/NA/Enron@Enron, Robert Stalford/NA/Enron@Enron, Gautam
Gupta/HOU/ECT@ECT, Larry F Campbell/NA/Enron@Enron
Subject: NYPSC Interim Pricing Report on ISO

FYI.  In the interest of all the developing markets, I think that we need to
make a full court press to ensure that this does not get enough support to
pass at the committee level in New York.  I will arrange a meeting with
regulatory to plan our response.

Tom.
---------------------- Forwarded by Tom May/Corp/Enron on 12/14/2000 06:09 PM
---------------------------
From: Howard Fromer on 12/14/2000 04:30 PM
To: Tom Dutta/HOU/ECT@ECT, John D Suarez/HOU/ECT@ECT, Doug
Sewell/HOU/ECT@ECT, Richard Ring/HOU/EES@EES, Suneet Sharma/HOU/EES@EES, Gary
Keevill/ECP/Enron@Enron, John Llodra/Corp/Enron@ENRON, Tom
May/Corp/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Sarah
Novosel/Corp/Enron@ENRON, Dan Staines/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT,
Richard Lydecker/Corp/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Steven J
Kean/NA/Enron@Enron
cc:

Subject: NYPSC Interim Pricing Report on ISO

Earlier today, the New York Public Service Commission released a 122 page
draft report prepared by its staff evaluating the NYISO. The report concludes
that the ISO must pursue a wide range of operational reforms and other
consumer safeguards to "ensure a more efficient and stable electric market
that will better protect consumers from dramatic price increases." The report
culminates a months-long investigation begun by the PSC last summer in
response to problems and price run-ups in the wholesale market.

The major recommendations in the Report, some of which have already surfaced
in recent ISO Committee meetings, would be devastating to a competitive
wholesale market and would largely reregulate prices in New York. They
include the following (taken directly from the PSC's Press Release):

Reforming rules and procedures to improve the efficiency of the market and
minimize opportunities for market manipulation, or "gaming," by owners of
electricity generating facilities;
Initiating a $150 per megawatt hour price cap on generators to maintain
reasonable market clearing prices;
Creating a "circuit-breaker" mechanism that will prevent market power abuses
at levels below $150/MWH;
Lowering price thresholds significantly to allow the NYISO to step in more
quickly to investigate and mitigate price spikes;
Granting the NYISO retroactive refund authority to return to consumers gains
that generators improperly derive from market power abuse; and,
Creating a strong deterrent against price abuses by penalizing generators who
repeatedly use improper tactics to raise prices above competitive levels.

The NYPSC, of course, has no legal authority to impose any of these
recommendations. However, they are likely to muster support from the
Transmission Owners, governmental entities and loads, that usually control
enough votes to just  pass a motion at an ISO Committee. This will set up a
confrontation with the ISO Board, which is walking a delicate tightrope
between maintaining its independence and supporting a competitive wholesale
market on the one hand, and dealing with the politics of a hostile
Administration in New York. Last summer, as you may recall, the Board
rejected the $1000 bid cap pushed through by the PSC, voting instead for a
$1300 cap. That action was set aside by FERC, which reimposed the $1,000
level and then made it applicable in New England as well so that there would
be consistency among the three Northeast ISOs (PJM already had the $1,000
cap.)

Thus, whether NY follows the lead of California is likely to be determined by
FERC, and it will have to carefully consider the consistency concerns it
raised last summer in ultimately deciding whether it's OK for New York to set
price caps below its neighboring ISOs.

Attached is a copy of the PSC's Press Release and Report.

http://www.dps.state.ny.us/fileroom/doc8945.pdf


The IT Compliance team has been asked to conduct a process review and process
development project with the Clickpaper team.  The immediate plan is to focus
on key processes prior to the go live date of July 24.  Arthur Andersen has
agreed to provide experienced personnel to assist with this effort as
necessary.

Attached please find a draft work program of the processes we plan to focus
on over the next 13 days.  Under the execution section, the work program
identifies the priority processes and the contacts we will initiate
interviews with.  We will begin scheduling interviews this afternoon.

Thanks in advance for your cooperation,

Andrew Parsons
3-6665


i don't want my car to be powdered up.  it will look like i am driving a mary
kay car.


Only if it's not a bother.  You're very sweet to forward along.  You must
feel GREAT being done!