Here are some more questions where we need your assistance.  These are
regarding Wheatland.   Thanks
Ben


Bob, et al,

Please forward all PEC/NS/Aruba related documents to the attention of Kay Chapman with the estate.  This would include all transportation agreements, binders, etc.  If anyone has a full set/copy of the transportation agreements, please respond to this e-mail.  They need to go on a plane to Chicago later today.  We need to ensure these documents remain with the estate due to confidentiality provisions with PEC.

As always, thanks for your assistance.

Thanx,

Laura


Kathy,

I don't think I will be able to make our meeting tomorrow.  Can we pick it up
again next week?  Thanks.

DG


Seems like we should have a link from GRO site to this.  Is this part of
Brent's organization ?

http://globaltrade.enron.co.uk/


There's a girl on my desk that makes it in 3, so it'll probably take you 4.


Kay,

I got your email about the 1 month contract, and I hope you got a memo last
Friday from John Brunini giving you our research to date. I may be in Houston
next week (probably the 8th or 9th) and possibly again early the following
week. Would it make sense for us to try to visit on this matter when I'm in
town? If so, when might you be available?

Wilson


I believe that now that we have signed, there is no condition precedent that will allow for the board to say no to the deal.  Given the prior understanding we had that this transaction did not require board approval I do not think we can or should ask for that approal now.
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)


Attached please find the referenced list.  As usual, no European power for
U.S. counterparties until further ntocie.


This is just to remind everyone that bunko is at my house on Monday April
9th.  Please let me know as soon as you can if you are not going to be able
to make it.  Thanks and I look forward to seeing all of you there.


Please send me your weekly report information before you leave today.

Thanks,
selma


I think the note I sent to Steve plus the fact that he came to see me and I told him he was out of line are enough. We will not support the app. It seems kind of draconian to shut off the flow of information. As far as wireless in general it has never been a high priority for me because we never had a commercial basis for proceeding other than "gee, wouldn't this be cool" I think it is time to reassess the wireless angle, in terms of what it would cost to build, who would build it for us, and what we would get from the project. I'm going to ask Dave Forster to do that.

Comments ?

AZ


Andre,

Here is a short subset of 10-minute records containing the extreme
temperature event (approximately 3 hours of before/after data). The turbine
was #105 at Desert Sky on May 1st. Times are in UTC. The values are 10-minute
averages.

If you have additional questions let me know.

Mark


Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 05/25/2001 08:41 AM -----

	Roderick Nelson/Enron@EUEnronXGate
	05/25/2001 04:52 AM

		 To: Tracy Ngo/ENRON@enronXgate
		 cc: Carol St Clair/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Michael
Pitt/Enron@EUEnronXGate, Justin Boyd/Enron@EUEnronXGate, Mark
Evans/Enron@EUEnronXGate, Greg Wolfe/ENRON@enronXgate
		 Subject: RE: Kaiser Aluminum & Chemical Corporation - UK and US swaps

Tracy,

Did you have a chance to read my email response earlier this week?  I believe
that it is highly unlikely that we will be able to net exposures across
non-defaulting (Enron) entities.  Paul Simons can (and maybe has by now)
given opinion to this idea.  Historically, I believe the opinion has long
been that such netting (set-off against affiliates of non-defaulting party)
in the US should work within the case of contractual default, but outside of
bankruptcy.  However, in the special case of legal bankruptcy, such netting
(though contractually agreed by the parties) may be challenged.  Introducing
the fact that one of Enron's entities is a UK entity may further cloud the
likelihood.  Clearly, if the relationship involves more than on Kaiser
entity, netting almost certainly will not work.

Has Diana not responded to your credit exposure questions regarding the form
of governing confirmation and legal entity?  I believe that she is in the US,
but should be checking in.  Perhaps you should try calling her?  I think we
will find that the transacting entity is a subsidiary of Kaiser Aluminum.

Risk management systems for metals are still not ideal.  Volumetric/CVAR type
analysis may not yield such reliable results.

Rod

 -----Original Message-----
From:  Ngo, Tracy
Sent: 24 May 2001 22:15
To: Nelson, Roderick
Cc: St Clair, Carol; Shackleton, Sara; Pitt, Michael; Boyd, Justin; Evans,
Mark; Wolfe, Greg
Subject: Kaiser Aluminum & Chemical Corporation - UK and US swaps
Importance: High

Rod,

Enron North America is looking to enter into power swaps with Kaiser Aluminum
& Chemical Corporation starting June 2001.  I'm seeing in the credit system
that MG plc has forward financial metals positions with Kaiser, however I
need clarification on whether the swaps are done with Kaiser Aluminum &
Chemical Corporation or Kaiser Aluminum International Inc.  Secondly, is
there a Master ISDA Agreement governing those swaps?  In pulling the mtm
monthly breakout, it appears that MG plc is OTM north of $10MM US and the
liquidation of that portfolio occurs mostly in cal '02.

Given Kaiser's limited credit line, I'd like to look into the potential of
setting off financial exposures in the UK and US in cases of default.  Kaiser
is looking at other businesses with Enron and this could be quite fruitful to
tap into in order to increase trading liquidity going forward.

In summary, we need to answer at minimum the following:
? confirmation of which Kaiser entity is financial transacting with MG plc
? volatility of the metal positions that go out to Jan '04 to ensure how
quickly this out-of-the-money position can move
? what type of paper is confirming the swaps (whether long-form confirms or
Master ISDA)
? what credit/legal terms and laws may affect our efforts to establish a
Netting Agreement for UK and US financial

Can you help me in coordinating a meeting with London legal/credit and
Portland credit/Houston legal to discuss pertinent issues associated with a
Netting Agreement between Kaiser (single entity or multiple entities) and
Enron entities (MG plc and ENA) as soon as possible.  Please let me know your
thoughts to the above and who we need to contact to get the above points
addressed.  In Houston legal, Carol St. Clair is available to work on the
drafting of such a Netting Agreement and is speaking with Sara Shackleton
about the concept as well.

Please let me know as soon as possible your comments to the above and in
setting up a conference call to push this forward.

Thanks,
Tracy


Thank you for your kind note.  Frankly with all the challenges our leadership team has faced this year, I don't have the slightest qualm that you and the other directors will  handle anything that comes our way.

-----Original Message-----
From: Dietz, Rick
Sent: Tuesday, December 11, 2001 11:08 PM
To: Corman, Shelley
Subject: Kazakhstan

Shelley,

I want you to know how happy I am for you being able to finally go to Kazakhstan and complete the adoption of your  daughter.

While you are gone, please try to think about work and Enron as little as possible.  We will put in extra effort to ensure things go smoothly while you are out.  I will copy you on any important emails and data requests to give you something to read through when you get back to Houston.

Enjoy your first new days of traveling with Aliana (sp).  I'm sure you both will be somewhat apprehensive about the travel arrangements and she will be looking towards you to see if she should be frightened.  On Sunday, I asked my Sunday school class to pray for your safety, for uncomplicated travel, and for patience while wading through the governmental red tape.  My family and I will be thinking about you and your family over the holidays.

Rick


Steve, et al  --

RAC is finishing up its activities on the Quebecor transaction.  Quebecor is
the reformulated World Color Press deal from a few years ago.

We are still trying to understand which utilities are key for the Quebecor
deal.  The positions are very dispersed.  Many of the positions are behind
munis and coops.  It is my understanding that the contract will supply 1.4MM
Mwh / year across the country at about 100 sites.

Rather than trying to identify a specific $$ amount of Profit at Risk due to
Regulatory Risk (which requires specific knowledge of rate curves and
positions), I am recommending that RAC highlight to Mgmt the impact from a
$1/Mwh increase in T&D rates across the board.  This equals a $9.3 MM loss
for EES (@ PV8). [This will not be a reduction to the overall NPV value -
just a comment in the Risk Description].

As a point of reference, a $1/Mwh increase is about a 2.9% increase in T&D
and a 1.2% increase in Total Rate (assume $35/Mwh for T&D with a total bill
of $80/Mwh for Commercial customers).  In general, the probability of all
sites having a 2.9% increase in T&D rates is rather low.

Finally, Scott Stoness is pulling the Top 5 Utilities by position for the
Quebecor deal so that we can perform additional analysis on critical rate
curves.  If this highlights any additional problems, we will include in the
DASH.

JDS


Metallgesellschaft Ltd.
One American Square
17 Crosswall London EC3N 2PT
Registartion # in England 972941, VAT Registration Number GB 243 6219 73


John,

We have  been working for the last few days on VaR related issues.
The focus is on Jim Schwieger's  storage book as of 5/25 and 5/26
where we had some counterintuitive results. This book is a good
candidate for a systematic review of the VaR process.

It seems that the problem arises from forward - forward vols used by the VaR
system. You can see in the attached spreadsheet that the VaR, on a cumulative
basis,
jumps on Jan 04, when an abnormal FF vol hits a relatively large position.
This FF vol is also much different from the previous day number producing a
big
jump in VaR.
This row (Jan 04) is in magenta font in the attached spreadsheet. Please, look
at column D.

The abnormal FF vol may result from one of the two factors:

 a. a bug in the code. We are working with the person in IT who wrote the
                     code to review it.

 b. a poorly conditioned forward vol curve ( a kink or discontinuity in
                    the fwd vol curve will do it). One solution I can
propose, is to develop for
                    the traders a fwd-fwd vol generator  allowing them to
review the fwd vol curve
                    before it is posted. If it produces a weird fwd-fwd vol,
it can be smoothed.

Can you meet at 4 p.m. to review our findings?

Vince


You guys had a busy night last night and did a good job of handling El Paso
and getting the reports done.  However, we were not flat this morning in
Enpower (long 1600 mws in NP, and short 192 in SP), and because we were not
flat in California, the Enpower to Caps report was incorrect.  Variances
listed as explained in the Enpower to CAPS report were not.  Your night note
says however:

CAPS Position Manager:
Flat for both days.

Please make sure you have checked the position manager and updated your night
note.
Thanks,

Bill


John,

I haven't received a call from Mark as of yet.  Do you have a list of interviewers in mind?

Thanks,
Johnny

 -----Original Message-----
From: 	Arnold, John
Sent:	Tuesday, October 09, 2001 8:18 AM
To:	Palmer, Johnny
Subject:	FW:

Johnny:
I'll get Mark Findsen to call you.  Can you have at least 1 trader interview him as well.
Thanks,
John

 -----Original Message-----
From: 	Shankman, Jeffrey A.
Sent:	Tuesday, October 09, 2001 8:16 AM
To:	Arnold, John
Cc:	Palmer, Johnny
Subject:	RE:

I'll set it up as orig.

Johnny, can you set this up?

 -----Original Message-----
From: 	Arnold, John
Sent:	Monday, October 08, 2001 6:37 PM
To:	Shankman, Jeffrey A.; Nowlan Jr., John L.
Subject:

Not so impressed with David goldman.  For a guy who has worked in derivatives for 10 years, couldnt answer some simple questions.  Very poor financial derivatives knowledge even though he worked at CRT for a long time and a Lyonnais for a while.  The only value I see in him is that he worked at BP for a while and might have some knowledge as to how they work.


We Agree with the nominations.

"Eileen Ponton" <kponton@duke-energy.com> on 03/21/2001 11:08:26 AM

To:   David Avila/LSP/ENSERCH/US@TU, Charlie Stone/Texas Utilities@TU, Melissa
      Jones/Texas Utilities@TU, HPL.SCHEDULING@ENRON.COM,
LIZ.BELLAMY@ENRON.COM
cc:
Subject:  NOMS/ACTUAL FLOW FOR 03/20/01

NOM       MCF       MMBTU
50,000         46,771         48,034

BTU = 1.027


Here's a draft of a research memo on options.  While I am hopeful that we can
overcome FERC's policy on reservation of capacity, our arguments obviously
need to be developed a little more before we can do that.  I know the
business folks are anxious to hear our strategy.  I would appreciate your
comments on the attached.


I guess we wont see each other until tomorrow   :(

love you...

-----Original Message-----
From: Clint.Dean@enron.com [mailto:Clint.Dean@enron.com]
Sent: Tuesday, August 29, 2000 9:54 AM
To: Jennifer.K.Dickinson@usa.conoco.com
Subject:

I just found out that I have a meeting today from 5-6.  It is the one I
that was supposed to be tomorrow.  Let me know what you want to do.

Love you,
Clint


I left you a msg, but here is the info.

STT - map like HPL Zone #1 - Thompsonville
HCO - map like HPL Zone #5 - Edna (Agua Dulce Curves)

Call with questions.
x3-0977


calendar ... also please RSVP for melissa and I to the Lay's party.
----- Forwarded by Steven J Kean/NA/Enron on 12/17/2000 08:42 PM -----

	Julie Clyatt
	12/15/2000 04:55 PM

		 To: Caroline Schaeffer/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Blaylock/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott
Gilchrist/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Angela
Ernest/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kim Cadena/HOU/EES@EES, Samantha
Amosson/HOU/EES@EES, Judy Gray/HOU/EES@EES, Alisa Petteway/HOU/EES@EES, April
Self/HOU/EES@EES, Ashley Lord/HOU/EES@EES, Karen E Campos/NA/Enron@Enron,
Bernie Robinson/Corp/Enron@Enron, Cheryl
White/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Belinda McGaughy/EWC/Enron@ENRON,
Ann Vaughn/HR/Corp/Enron@ENRON, Leesa Hutcherson/OTS/Enron@ENRON, Roger
Sumlin/HR/Corp/Enron@ENRON, Gary Buck/HOU/ECT@ECT, Cecilia
Hankamer/Corp/Enron@Enron, Irma Alvarez/HOU/ECT@ECT, Anne
Labbe/NA/Enron@Enron, Ramona Perkins/Corp/Enron@Enron, Sheila
Walton/HOU/ECT@ECT, Cindy Skinner/HOU/ECT@ECT, Dave Hill/Corp/Enron@Enron,
Shanna Funkhouser/Corp/Enron@ENRON, Fran L Mayes/HOU/ECT@ECT, Norma
Villarreal/HOU/ECT@ECT, Hector McLoughlin/Corp/Enron@Enron, Francisco
deJesus/NA/Enron@ENRON, Janet De La Paz/HR/Corp/Enron@ENRON, Kim
Melodick/HOU/ECT@ECT, Dawn Doucet/CAL/ECT@ECT, Amy FitzPatrick/PDX/ECT@ECT,
Gerry Chatham/Corp/Enron@ENRON, Margo Terrell/HOU/ECT@ECT, Carolyn
Perry/Corp/Enron@ENRON, Willie Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Carmen Pokluda/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wanda
Chalk/ENRON_DEVELOPMENT@Enron_Development, johnpa@nepco.com,
robinj@nepco.com, Trang Dinh/HOU/ECT@ECT, Michelle Hargrave/HOU/ECT@ECT, Todd
Migliore/Corp/Enron@ENRON, Jennifer Jordan/Corp/Enron@ENRON, Nigel
Sellens/LON/ECT@ECT, Kate Whyte/LON/ECT@ECT, Robin L
Treadwell/NA/Enron@Enron, Michelle Hargrave/HOU/ECT@ECT, Trang
Dinh/HOU/ECT@ECT, Todd Migliore/Corp/Enron@ENRON, Cindy
Olson/Corp/Enron@ENRON, Ray Bennett/HOU/EES@EES, Dave
Schafer/OTS/Enron@ENRON, David Oxley/HOU/ECT@ECT, Steven J
Kean/NA/Enron@Enron, Gary P Smith/OTS/Enron@ENRON, Drew C Lynch/HOU/ECT@ECT,
Janie Bonnard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert
Jones/Corp/Enron@ENRON, Miguel Padron/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Scott Gilchrist/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ranendra
Sengupta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gerry Chatham/Corp/Enron@ENRON,
Marla Barnard/Enron Communications@Enron Communications, Willie
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea Yowman/Corp/Enron@ENRON,
Elizabeth Tilney/HOU/EES@EES, Gina Corteselli/Corp/Enron@Enron, Chris
Cockrell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Teresa
Bosien/HR/Corp/Enron@ENRON, Gwendolyn Gray/HR/Corp/Enron@ENRON, Kathy
Neal/NA/Enron@ENRON
		 cc: Jonathan Lane/NA/Enron@ENRON, Roy Montgomery/NA/Enron@ENRON, Emil
Campos/NA/Enron@Enron, Erin Kanouff/HOU/ECT@ECT, Derek Anderson/HOU/ECT@ECT,
Teri Ashley/HOU/ECT@ECT, Roy Jacob/Corp/Enron@ENRON, Amy
Bundscho/Corp/Enron@Enron, Lionese York/NA/Enron@Enron, Susan
Wimberley/HOU/ECT@ECT, Elspeth Inglis/Corp/Enron@Enron, Lon
Allchin/HR/Corp/Enron@ENRON, Rocio Barela/HOU/ECT@ECT
		 Subject: PEP Happy Hour

We invite you to have a drink with us to celebrate the end!

       When : Wednesday, December 20th
       Where: Hyatt Regency - The Park Bar
       Time :   5:00 - 8:00pm

Please RSVP by Tuesday, December 19th
Please forward this on to anyone I might have missed!


John,

Are the 24 hr gas stacks going to be running on Thanksgiving and the Friday after (11/22, 11/23)?. EOL is asking.

Thanks,

Errol


---------------------- Forwarded by Kay Mann/Corp/Enron on 12/07/2000 11:19
AM ---------------------------

lee.johnson@ss.ps.ge.com on 12/07/2000 11:04:30 AM
To: Kay.Mann@enron.com, kent.shoemaker@ae.ge.com, lee.johnson@ss.ps.ge.com
cc: Ben.Jacoby@enron.com

Subject: RE: Attached Files

Kay,

I've reviewed and added updates to contact info.  The serial number, $
amounts, and performance values are correct.  Didn't see any thing more, but
let's let Kent get back with his comments, if any further.

Thanks,

Lee

-----Original Message-----
From: Kay.Mann@enron.com [mailto:Kay.Mann@enron.com]
Sent: Wednesday, December 06, 2000 5:41 PM
To: kent.shoemaker@ae.ge.com; lee.johnson@ss.ps.ge.com
Cc: Ben.Jacoby@enron.com
Subject: Attached Files

More Coral stuff I haven't read.
---------------------- Forwarded by Kay Mann/Corp/Enron on 12/06/2000 05:38
PM ---------------------------

"Cobb, Chris" <chriscobb@akllp.com> on 12/04/2000 02:35:20 PM

To:   <kay.mann@enron.com>
cc:   "Thompson, Peter J." <peterthompson@akllp.com>, "Pipitone, Paul"
      <paulpipitone@akllp.com>

Subject:  Attached Files

Kay,

Attached are blacklined version of the CA Energy Development breakout
agreements.  They show the changes made from the original form agreement
to the latest version of each agreement, which I sent out to you about
an hour ago.  Thanks, Chris
 <<Comparison of 554888.6 to 83277.2.DOC>>  <<Comparison of 554888.6 to
83242.3.DOC>>
(See attached file: Comparison of 554888.6 to 83277.2.DOC)
(See attached file: Comparison of 554888.6 to 83242.3.DOC)

 - ENA_CALISO#18_Comparison of 554888.6 to 83242.3.DOC
 - ENA_CALISO_Comparison of 554888.6 to 83277.2.DOC
 - Exhibits to CA Development Turbine Agreement.DOC


Bill/Philippe-

Below is a summary of the major problems which occurred the past 96 hours and
the steps taken to mitigate the damage and risk.

Enron Center North (1400 Smith)

As a result of the flooding downtown, approximately six skyscrapers had their
electrical vaults flooded and began to cause cascading problemd in the
electrical grid downtown. The net result was the loss of one of the two 35kv
circuits which serve 1400 Smith. We (engineers, EES Maint, electrical subs)
believe at the time the circuits blew we shifted from three phase to single
phase power, which caused an imbalance in the load to the building.

Consequently, UPS "C" which serves a portion of the Lv 34 Data Ctr, the Rolm
phone switch, and a protion of the Traders floors lost a circuitboard, and
blew two internal fuses. This power degradation caused PDU "S" on Lv 34 to
trip its main breaker and shutdown power load to servers and equipment on
this PDU. This occurred shortly after Noon on Saturday.

Response/Restoration

> UPS "D" transferred load from UPS "C" as the N+1 back up and carried the
full load of the UPS loss as designed
> EPSC/electrical sub (Henderson Electric); EES Maint; IT worked together to
power down systems to begin repair work by 4:00pm Saturday
> EPSC/EES Maint coordinated with Pillar/Henderson Elec to obtain replacement
parts and begin the repairs. By 9:30pm all repairs to UPS"C" had been made
and the system bought back on line. As a measure of extra protection the back
up genset for Enron Ctr North  was in operation
> Reliant Energy restored the circuit at approximately 10:30pm Saturday
evening
> EPSC/EES Maint and subs conducted a thorough review of all electrical and
back up systems Saturday evening
> Enron Network IT Operations began restoration of all affected systems
Saturday evening
> EPSC/EES Maint obtained diesel fuel and topped off all gensets Saturday in
case of additional problems and due to fuel consumption during the outage

Other Building damage was limited to flooding in the tunnels, and water
damage/flooding to portions of the Body Shop on Lv B-1

Enron Center South (1500 Louisiana)

Impact/Damage Summary

> Levels 8 & 9  received very limited amounts of water from the core area
elevator shafts and exterior curtainwall. There was no exposure to water on
any systems or network cabling during the entire period. (Response) Crews
contained and cleaned all water as it traced into the building.
> ALL IDF closets on Lvs 3-5 Traders Floors remained dry throughout the
duration of the rains/flooding on Friday & Saturday
> Lv 6 received some water from Lv 7. (Response) The area was contained and
cleaned. No additional damage beyond Tuesday evenings flooding occurred
> Due to extreme street flooding and water pressure, a 10" sanitary sewer
line tied into ECS burst on Friday evening causing extensive flooding of Lv
B-1 area (approximately 4-6 inches of water in the basement. (Response)
Clark & Way Engr was able to install a temporary plug in the line to stop the
on going flood waters from penetrating the basement. Clean up has continued
throughout the weekend
> Due to the extreme flooding and water pressure, the water seal of the
Reliant Vault burst early Saturday and flooded the electrical vault room with
24-30" of water. This resulted in a complete loss of power at approximately
1:30pm on Staurday afternoon. The back up systems engaged and operated per
design to support the Data Ctr and Traders Floors. The temporary cooling
tower went off line. Prior to the flooding Clark had been in the process of
tieing in the temporary feed into the back up system by 7-1-01 in prep for
the migration (Response)
 * Clark used back up water pumps to pump out and clean the Reliant
electrical vault, as well as maintained operation of the back up systems
 * The Data Ctr AHU's were kept on line with the dehumidifiers/blowers to
modulate the airflow in the Data Ctr. EPSC had Way Engr techs use
temp/humidity probes
    to monitor the areas. The recordings indicated temps on Lvs 8 & 9 did not
exceed 78 degrees and relative humidity did not exceed 68% during the outage
 * Clark/Fisk Elec/EPSC coordinated desing efforts and obtained gear on an
emergency basis and completed the tie in off the temporary coolong tower to
the
    generators by 10:30pm
 * Reliant Energy is still cleaning and replacing gear in th vault room.
Presntly (AT 11:00PM Sunday) we have one circuit operational in the building
and 50% of the
              Reliant  gear on line). We are still operating all systems
safely on the back up sytems for the past 36 hours. It is expected Relaint
will be complete by 7:00am.
   Clark; the engineers and MEP subs shall be conducting a thorough system
review and repirs as required of all systems throughout the building during
the coming
   week.

In summary, the back up systems in both facilities did engage and operate as
designed; however, due to the extreme conditons and stress placed upon the
systems the facility held up extremely well. I would also like to note
throughout the ordeal beginning Friday evening through Sunday, everyone
(Enron NetWorks;EES FacilitiesClark Const;Way Engring;Fisk Electric;Henderson
Electric; KW-Pillar;Hines) did an outstanding job under enourmous pressure
and the most severe conditions I have seen in downtown Houston.
Communication, around the clock work  and cool heads managed to assess damage
and develop action/restoration plans to facilitate repairs for Monday business

Let me know if you need further details on specific issues or items.

regards-

Henry


See attached.

Loss/Limit Notifications:

None


I added a fee of 0.0075 to this deal.

Thanks,
Kate

Kerri Thompson@ENRON
01/22/2001 11:18 AM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: fee

497570, broker has fee on this trade.

thanks


Start Date: 4/23/01; HourAhead hour: 11;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042311.txt


End of July should be fine.  I am planning to be out July 26, 27 and 28,
taking our 16 year-old on a tour of some college campuses before she starts
her junior year.  Motivational, I hope!  --Sally

Kathie Grabstald on 06/30/2000 02:48:12 PM
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Re: ENSIDE

Thanks for your note.  I have another profile interview to do with Mark
Frevert on July 12.  At that time, we will schedule a photographer for both
of you for the end of July.  Will this work for you?  If not, just let me
know!

Kathie


that fine - say 8

Jason Bass <JBass@stdauto.com> on 02/21/2001 12:12:06 PM
To: Eric.Bass@enron.com
cc:
Subject: RE: My new work email

Ok, we are on.? Can you come to the Papasitos at 290 and the Beltway.? It is
actually about 4 miles East of the beltway.? Basically if you are coming down
290 from downtown it would be on your right about 4 miles before the Belt.?
Let me know.

?-----Original Message-----
From: ? Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent:?? Wednesday, February 21, 2001 11:12 AM
To:???? JBass@stdauto.com
Subject:??????? RE: My new work email

we were thinking papasitos (we can meet somewhere closer to you this time)
again at around 8

Jason Bass <JBass@stdauto.com> on 02/21/2001 11:22:45 AM

To:?? Eric.Bass@enron.com
cc:
Subject:? RE: My new work email

The new job is going great so far.? I am in training currently.? I will ask
Donnita about dinner. I think it should be fine, I just can't remember if
anything is planned as of yet.? What time and where would you want to go?

?-----Original Message-----
From:?? Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent:?? Wednesday, February 21, 2001 10:12 AM
To:???? JBass@stdauto.com
Subject:??????? Re: My new work email

hey jason,

how is the new job?? shanna and I would like to know if you and donnita
want to do dinner again this friday? let me know

-e

Jason Bass <JBass@stdauto.com> on 02/21/2001 10:11:30 AM

To:
cc:
Subject:? My new work email

Just wanted to let you know my new work email address.

Jason


Send check to Lisa


For anyone else other than Carlos who needs it

Bev
---------------------- Forwarded by Beverly Beaty/HOU/ECT on 10/30/2000 03:20
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Steve Holmes" <Steve.Holmes@dvn.com>
10/30/2000 02:06 PM

To: <Beverly.Beaty@enron.com>, <carlos.j.rodriguez@enron.com>
cc:
Subject: 11/00 Co-Owner's Avails.

Please see the attached.

 - 1100Co-Owners Volumes to Enron.xls


THERE will NOT be a Friday Meeting July 7, 2000.

    Date:  Friday July 7, 2000

    Time:

    Location:

    Topic:    NO MEETING DUE TO PRC

Thanks,

Kay 3-0643


Legislative package only delays pain, critics warn
By Craig D. Rose
UNION-TRIBUNE STAFF WRITER
September 1, 2000
Consumer and political leaders -- as well as Sempra Energy's chief executive
-- said yesterday that the three electricity bills before Gov. Gray Davis do
nothing to fix the fundamental cause of soaring bills.
The cause, they say, is that power generators can continue to charge what
most characterize as exorbitant prices for their electricity -- and consumers
ultimately face the daunting task of paying them.
No matter if all of the bills are signed, the leaders say California's power
market will remain a seller's game that gouges overmatched consumers. And
while San Diego Gas and Electric Co.'s hard-pressed customers may pay less
now, they will pay back all or nearly all the savings -- plus interest --
beginning in 2003.
"The governor's bill postpones the pain, but the pain is still there," said
Maureen O'Connor, a former mayor of San Diego who has been active in seeking
relief from the soaring bills afflicting SDG&E's 1.2 million electricity
customers.
The rate bill promoted by Davis and now awaiting his signature will have
SDG&E's customers pay about 6.5 cents per kilowatt hour for electricity, or
70 percent more than what they paid as recently as May.
Power companies, however, will continue to charge the customers as they have;
presently, they're charging about 21 cents per kilowatt hour for SDG&E
customers. The difference between 6.5 cents and whatever prices above that
level emerge from the state's volatile power market will be recorded as IOUs
for each customer in so-called balancing accounts.
A second bill before the governor could provide up to $150 million in state
money to help pay the balancing accounts, but the bulk of the IOUs will
almost certainly be paid by SDG&E customers themselves when they become due
in 2003 or 2004. A third bill before the governor would speed the
construction of power plants.
So while the rate bill lets customers pay less now than they owe, it
obligates them to pay the balance with interest later.
The situation creates the potential for a troublesome compounding effect: The
higher electricity prices grow, the more is set aside in the balancing
accounts -- and the greater the wallop to customer wallets when the accounts
come due.
Based upon prices now paid for future electric deliveries, Sempra Energy
estimates customers will owe $664 million by 2003. IOUs of that magnitude,
said SDG&E, will require that customers pay a surcharge of $40 monthly for a
year on top of whatever they are already paying for their power bills.
Keep in mind that typical residential bills at this time last year were about
$55; they now stand at about $130. Consumer advocates say it's likely power
prices will remain at levels that will lead to huge debts for customers under
the Davis proposal.
"The generators have shown themselves to be unconscionable in extorting
profits," said Nettie Hoge, executive director of TURN, a San Francisco-based
consumer group.
Hoge said the bills that emerged "seemed the best a corrupt system could spit
out." She added that TURN and other groups will shift their focus to
pressuring the Federal Energy Regulatory Commission to restrain the electric
generating companies and wholesale power markets.
FERC, she said, must legally determine if charges from generating companies
are reasonable. TURN and other groups will also press for re-regulation of
the industry and will begin to explore municipally owned generating plants.
Michael Shames of the Utility Consumers' Action Network supports the Davis
bill, although he said it won't fix "the almost irreparably broken California
energy system."
"The problem is that California's electricity customers have been subjected
to market prices in a dysfunctional energy market," Shames said. "It's a
market controlled by the sellers of power and their cronies."
But Shames said the Davis bill provides at least temporary protection against
further rate shocks, and he expects taxpayers across the state will
ultimately assist SDG&E's customers in paying their electricity bills.
But Jamie Court, executive director of the Foundation for Taxpayer and
Consumer Rights, which has called for re-regulation of the industry, opposes
the rate-cap legislation.
"This keeps ratepayers and taxpayers on the hook for the costs," said Court,
who added that the bill also locks in near doubling of power rates compared
to last year.
Stephen Baum, chief executive officer of Sempra, said the bill puts SDG&E --
a Sempra subsidiary -- in the position of financing the difference between
what power companies charge for their power and what it collect from
customers over the next three years.
The balancing accounts, Baum said, could grow so large that they will
challenge Sempra's ability to borrow to cover them.
"The problem is with the wholesale markets," said Baum, who today becomes
chairman as well as chief executive of Sempra. "This legislation does nothing
but postpone a big bill."
He added that Sempra believed the bill included ambiguities that could be
illegal if not later clarified by the California Public Utilities Commission.
"If (the PUC) can't or won't, then I think the legislation is legally flawed
and can't stand," Baum said.


My current understanding is an anticipated close of February 8th (Friday).

There are a number of matters we will need to communicate to employees between now and then. While we may decide that consolidating these matters into a single communication is not practical/desirable, I would like to make sure that all employee communications are co-ordinated. Below is an initial list of the general matters that we have currently identified as needing to be addressed with my understanding of who is taking the lead:

HR Matters					Audrey Martin/David Oxley/Robert Jones/Neil Davies
Deadlines for o/s offers
Payroll switch over
First few checks to home address
Benefits coverage/elections
Orientations
Enron departure letter/process
Return of Enron proprietary documents/info

Buildings Access/Security Badges		Rocco Velpri/Bill Donovan/Cindy Olson/Wes Colwell
New badge arrangements
Access to Enron premises
Use of Gym, Doctors office, Restaurant, kids centre
Access for Enron ee's to NETCo floors
Ongoing Car parking, Bus passes et al

Cell phones/Blackberrys/Pagers		Wes Colwell/Jenny Rub/?
Transfer arrangements
Return of equipment

Email addresses/Network Access/et al		Jenny Rub/?
New logons/passwords
Old files return to Enron

Stationary and General Admin		Wes Colwell/Tammy Shepherd
Business Cards
Letterhead, et al
Ordering of office supplies
Return of Enron supplies

Business Expenses				Audrey Martin/David Oxley/Wes Colwell
Process going forward
Training/procedures/payment schedule
Reimb. of outstanding Enron expenses

All Employee Communications		Mark Palmer/ David Walker
On launch celebration/bon voyage
Subsequent update/mediums

Please let me have your comments/recommendations on above. Given the NETCo employee list is not yet finalised, I will be the point of contact to confirm correct headcount and names.

David


FYI:  Just got off the phone with Michael Hoffman, who's one of two key
outside financial advisors to Davis on the electricity crisis. The
administration is trying to get a legally binding agreement between the PUC
and DWR to ensure that the PUC doesn't muck around with the money (via
utility rates) DWR requires to be creditworthy.  They were shooting for this
Friday to have a draft of the document read for folks to review, but it now
looks like it won't get resolved until (at the earliest) next week----seems
that the one PUC lawyer who can actually do the work is on vacation.  Go
figure.

Best,
Jeff


Here are the form exhibits, as we discussed:

Kay


Start Date: 4/2/01; HourAhead hour: 20;  HourAhead schedule download failed.
Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040220.txt
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Error: Crawler lifetime exceeded.
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!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
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Engine (error $2A04)
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Engine (error $2A04)
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Engine (error $2A04)
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!!!An error occurred while attempting to initialize the Borland Database
Engine (error $2A04)
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Engine (error $2A04)
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Error: dbCaps97Data: Cannot perform this operation on a closed database


fyi
----- Forwarded by Jeffrey A Shankman/HOU/ECT on 01/29/2001 12:36 PM -----

	Stinson Gibner
	01/29/2001 12:10 PM

		 To: Jeffrey A Shankman/HOU/ECT@ECT
		 cc: Vince J Kaminski/HOU/ECT@ECT
		 Subject: P+ spread options

Jeff,

We are reviewing the P+ spread option book.    One item of note is that the
correlations used to book the spread options have dropped significantly from
what was being used a year ago (see charts below).   I also remember that
John Mee was using even higher correlations when he ran this book.  In fact
he wanted to book options with a correlation of 1.0, but our model would not
allow it, so he was using 0.999.

We are currently calculating historical correlations for you as well.   If
you want, Vince and I can review this with you at the end of the day.   Just
let me know what time would be convenient.

--Stinson
x34748


I assume your working on this.  You owe me on the web page.

1.  Pricing - Lon's sheet.

2. Power Sheets

3. Peggy's volume and number of trades sheet.


Hello?


In an effort to get the commercial terms of the contract organized and
papered, we discussed the following issues during yesterday's meeting:

? What will be the contracted process for setting the Bogey?
? What heat rates or heat rate ranges will go in the contract?
? Can we create a schedule to collar the Bogey given a certain gas price?
? Can we get a gas management fee for being the Fuel Manager? (this is a
retrade)
? How does the network service transmission agreement including ancillary
services get accounted for in the "cost" calculation?
? How does Imballance get sorted out at the end of the the month as a profit
or a cost?

Regarding calculation of the Bogey, we have several issues.  First, what is
the methodology?  Rick is very close to having a stack model that
incorporates the business rules including minimum run times, startup costs,
VOM, etc.  Second, what are the daily inputs and who is responsible for
running the model?  This process will need to be documented every time the
calc is performed.  Third, what is the timing of the calc?  We discussed
getting the input info by 2am and doing the calc on a "day ahead" basis.
Only on a select basis would the calc be re-done mid-day.

We are planning on meeting with Marvin next week and working to resolution on
these issues.  This should result in a set of business rules that can be put
into the contract.

Please comment/correct/add/subtract to any or all of the above.  David
Fairley and I will be sending out the Marketing Strategy and Trading and Risk
Policy later this morning.

Thanks,

Reagan


Yes,  I may have to leave if the plane gets scheduled earlier, so the earlier the better.  Call Vernon at 713-287-1012 if you can talk to us earlier...otherwise we will plan on being there at 2:00 p.m.


In a seperate e-mail, I sent out the LOI to TECO which incorporated most of
Fred's comments. On the tolling term sheet, I agree with Fred's comments. Kay
- where do we stand on having outside counsel review this? I have indicated
to TECO that we will have a draft tolling term sheet to them by Wednesday.
Please let me know.

Thanks,

Ben

-----Original Message-----
From: Mitro, Fred
Sent: Fri 6/1/2001 5:56 PM
To: Mann, Kay; Jacoby, Ben
Cc: Kellermeyer, Dave
Subject: Midway Toll term sheet & LOI - comments

Ben/Kay:

Attached are my comments on the Midway Tolling term sheet and LOI.

I will be out on Monday but will have my cell phone on.  My conversations
will be regularly interrupted by golf strokes, but I will do my best to be
available.

Call me if you have specific questions/issues to discuss.  I have asked Dave
Kellermeyer to call either one of you on Monday with an answer to the minimum
block size for the tolling term sheet.  I am taking the air permit home to
review and will leave you a message if I determine the answer.

Fred

 <<Kay Mann Term sheet June 1(fred's marked).doc>>

 <<Kay Mann Tolling Term sheet June 1(Fred'smarked).doc>>


---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 10/28/99
05:27 PM ---------------------------

	Enron North America Corp.

	From:  Kevin M Presto                           10/28/99 04:57 PM

To: James B Fallon/HOU/ECT@ECT
cc: Christi L Nicolay/HOU/ECT@ECT, Richard Ingersoll/HOU/ECT@ECT, Lloyd
Will/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect
Subject: NERC Control Area Letter

FYI - Below is a nice gesture from an Aquilla representative at the SERC
Board Mtg.  He obviously agrees wholeheartedly with the position Enron staked
out at the meeting.

Jim - This is the same guy from Aquilla I was antoganizing at the FPL offices
on Tuesday evening.
---------------------- Forwarded by Kevin M Presto/HOU/ECT on 10/28/99 04:51
PM ---------------------------

"James, Jeff" <JJames@utilicorp.com> on 10/28/99 03:27:00 PM
To: Kevin M Presto/HOU/ECT@ECT
cc:
Subject: Control Area

Kevin,

Thanks for the NERC letter you provided me yesterday.  I have share that
with some people around here and no one can figure out how anyone can
interpret it different that you did.  It appears to us the issue has clearly
been resolved.  I have passed your name onto our VP of assets should he want
to pick your brain on dealing with TVA on these issues.  Once again congrats
on your victory against TVA and thanks for the info you shared with me.

Regards,
Jeff


Attached please find a sheet of pro and con statements.

 <<Statements.doc>>

 - Statements.doc