Kim -
I've finished changing the list of deals you faxed over to no confirm. Please
let me know if you continue to see these deals on your new deal report. I
still had questions on some of the Short Term and Long Term Northwest deals.
On those I will defer to Diana Scholtes. I also have questions on the
following deals:

557772 - why are we not confirming a daily with Pacificorp?
552516 - why are we not confirming a daily with Riverside?

And there were two deals I couldn't for the life of me read on that fax, so
you may still see deals showing up that don't necessarily need to be
confirmed.

Diana -
I know we had decided not to confirm deals done with Portland General
Electric, but before I change the following deals to "no confirm" I want to
clarify under what conditions we do not confirm with this counterparty.
 1. If the counterparty is PGE and the delivery point is elsewhere (Mid-C,
Montana System, etc.), do we confirm?
 2. If the counterparty is something other than PGE and the delivery point is
Portland General System, do we confirm?
 3. If the counterparty is PGE and the delivery point is Portland General
System, do we confirm?
I apologize for asking so many questions, but I've got a long list of deals
in front of me and before I create an irreparable mess I wanted to check that
I'm doing this right. Please let me know.

553666
553667
553668
555174
555175
555177
555178
556365
556366
556367
556368
557665
557666
557667
557668
557734
558952
558957
558958
558959
558960

Thank you both for all your help.

Kate


This deal is related to the long term transportation that was sold to
Calpine, but it is correctly booked as a physical forward sale at Malin.

DG

Ellen Wallumrod@ENRON
02/23/2001 04:33 PM
To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: Re: Deal #559974 moved to master contract

Darron,

This is the deal I phoned you about yesterday which Eric Moon put together
-  should it be booked as Transportation deal instead of a Forward ?

Ellen
---------------------- Forwarded by Ellen Wallumrod/NA/Enron on 02/23/2001
04:26 PM ---------------------------

Sylvia A Campos@ECT
02/23/2001 01:10 PM
To: Ellen Wallumrod/NA/Enron@ENRON
cc: Bob Bowen/HOU/ECT@ECT

Subject: Re: Deal #559974 moved to master contract

No I don't.  This deal is a Physical Forward.  Usually when it pertains to a
transportation the trader usually creates a Transportation Capacity ticket in
Sitara.  When it hits our portfolio we would then set it up in Global
Contracts.

Should you have any further questions, please do not hesitate to contact me.

Sylvia
x3-5755

Ellen Wallumrod@ENRON
02/22/2001 05:21 PM
To: Sylvia A Campos/HOU/ECT@ECT
cc: Bob Bowen/HOU/ECT@ECT
Subject: Deal #559974 moved to master contract

Sylvia,

I'm looking into this deal and after researching it  it seems like there
should be a separate Transportation Contract for this deal, and should not be
confirmed by us on the Confirmation desk. Do you know anything about this
deal or Contract ?

Eric Moon in Gas Structuring is the dealmaker and he asked me to talk to
Darron Giron who is a book admin.
This deal relates to Tagg # EC3952  -  apparently they pulled loads of
different transportation deals from our books and sold it on to Calpine. It
seems to me there must be a Contract out there for this 8 year deal.

Ellen
x54099
---------------------- Forwarded by Ellen Wallumrod/NA/Enron on 02/22/2001
05:11 PM ---------------------------

Cyndie Balfour-Flanagan
01/26/2001 06:25 PM
To: Ellen Wallumrod/NA/Enron@ENRON, Bob Bowen/HOU/ECT@ECT, Elizabeth L
Hernandez/HOU/ECT@ECT
cc:

Subject: Deal #559974 moved to master contract

Hey folks. Just a note, Calpine Energy Services, LP deal #559974 was
originally attached to a GTC due to the fact that the contracts group had not
yet received the master contract. The contract was received & entered into
Global this week & as a result we moved the above referenced deal to the
master (Global #96056886). Transaction term information: 5/1/01 - 10/31/08.

Please reconfirm as necessary.

Thanks all!


Start Date: 3/8/01; HourAhead hour: 20;  No ancillary schedules awarded.  No
variances detected.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030820.txt

---- Energy Import/Export Schedule ----
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/8/01
  TIE_POINT: PVERDE_5_DEVERS
  INTERCHG_ID: EPMI_CISO_WATER
  ENGY_TYPE: FIRM
*** Final schedule not found for preferred schedule.
     Details:

  TRANS_TYPE: FINAL
  SC_ID: ECTRT
  MKT_TYPE: 2
  TRANS_DATE: 3/8/01
  TIE_POINT: FCORNR_5_PSUEDO
  INTERCHG_ID: EPMI_CISO_BLAZERS
  ENGY_TYPE: NFRM


Bill Williams has confirmed that the attached version of the LVC-2 contract
is the final form.  I have added a footer stamp identifying it as "Rev 5 -
3/27/01".  Everything else is identical to the draft circulated March 12.

The second attachment is to be inserted as Exhibit H-2 in the contract.

Thanks.


That little project has been killed.  I don't think Father needs another
animal to take care of.

"Germany Jr, Don (WD)" <WDGERMANYJR@dow.com> on 05/12/2000 09:20:56 AM
To: "'Chris.Germany@enron.com'" <Chris.Germany@enron.com>
cc:
Subject: RE: Photo's

yo
de
man  Barbra said something to me about buying a donkey!  Are you aware of
this??

dg

-----Original Message-----
From: Chris.Germany@enron.com [mailto:Chris.Germany@enron.com]
Sent: Friday, May 12, 2000 9:09 AM
To: Germany Jr, Don (WD)
Subject: RE: Photo's

I send it to your work address tonight buddy.

You de Man.

"Germany Jr, Don (WD)" <WDGERMANYJR@dow.com> on 05/11/2000 08:48:21 AM

To:   "'Chris Germany'" <Chris.Germany@enron.com>
cc:
Subject:  RE: Photo's

Are you going to send the pictures to me.  I ran an add on the tractor in
next weeks local bargains paper.  I priced it at $19,000.  Am loading
exchangers this a.m.  Gotts to Go!

dg

-----Original Message-----
From: Chris Germany [mailto:Chris.Germany@enron.com]
Sent: Monday, May 08, 2000 8:09 AM
To: wdgermanyjr@dow.com; germanj@basf-corp.com
Subject: Photo's

I believe Kodak just doesn't support the USB connection very well.  I tried
the
other connection and it works great.  I pulled all the tractor pictures off
the
camera with no problem.  I still have not seen a photo as clear as the very
first one Chance pulled up of the family reunion though.

All the tractor pictures are a little fuzzy.


TNMP draft term sheet being prepared fro dispatch tomorrow. --DP
----- Forwarded by David Portz/HOU/ECT on 12/07/2000 09:39 AM -----

	Michelle Parks@ENRON
	12/06/2000 09:19 PM

		 To: Bruce Sukaly/Corp/Enron@Enron, Christopher Ahn/NA/Enron@Enron, Mike
Curry/HOU/ECT@ECT, Lloyd Will/HOU/ECT@ECT, Jason R Wiesepape/HOU/ECT@ECT,
Russ Porter/Corp/Enron@ENRON, David Portz/HOU/ECT@ECT
		 cc:
		 Subject: Here is a revised TNMP termsheet for your review and comment


Cheryl Nelson is feeling ill this morning, and will not be in until around 12
noon.  If you need immediate assistance, feel free to contact me at x5-3317.
Thank you for your attention to this matter.  Regards, Keegan


Hi Continuing Evening MBA students,

Thanks for registering on Telebears!
Thanks for your e-mails with class preferences!

We have downloaded your requests from Telebears and are now placing
students into elective courses based on seniority in the program.  We will
e-mail your confirmed class schedules on Friday, May 4.

DO NOT make changes on Telebears at this point.  We are not downloading
from Telebears again for Fall 2001 and will not see your changes.

IF YOU HAVE CHANGES:  You will have an opportunity to adjust your schedules
from May 4 - May 11 by e-mailing me at that time (tj@haas).

Then, on Monday, May 21, we will once again confirm your Fall 2001 class
schedules.  Please note, there will be no changes to schedule from May 12 -
August 26.

Thanks!
TJ


As agreed on the 5/31 conference call, Enron will prepare an annex discussion
draft which incorporates comments provided to the group.  Anyone wishing to,
may send me comments on the intial draft prepared by Bill McCoy last winter
by JUNE 6.  Enron's discussion draft will then be prepared based on comments
received and circulated for further discussion.

The collateral group agreed to meet in Houston on July 31.  I would like to
schedule the Drafting Committee meeting either on the 7/30 or 8/1.


The report named: NG - PROPT P/L <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=11&report_name=NG+-+PROPT+P/L&category_cd=5&category_name=FINANCIAL&toc_hide=1&sTV1=5&TV1Exp=Y&current_efct_date=11/05/2001>, published as of 11/05/2001 is now available for viewing on the website.


Geir zeroed deal 581368, and added deal 592672. There is another deal
corresponding with this that completes the path from Four Corners to NP-15.
Please let me know if you see this come through.

Thanks,
Kate

Rhonda L Denton
04/25/2001 01:13 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: 581368

Can you kill this deal or zero out the volumes?  thanks.

   Kate Symes                04/24/2001 05:27 PM

To: Rhonda L Denton/HOU/ECT@ECT
cc:
Subject: Re: 581368

I just spoke with Jesse Bryson in Real Time, and he said this should actually
be 2 buy-resales - one from Four Corners to ZP-26, and one from ZP-26 to
NP-15. Let me know how that sounds to you, and I'll enter the deals.

Thanks,
Kate

Rhonda L Denton
04/24/2001 03:23 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 581368

Should this be NCPA, since we do not have transmission with them.  Or maybe
it should be a buy/resale.  let me know.  Thanks.


Is anyone working on a matter related to Socal Gas?  Ina Rangel called about
some documents they sent up last week for this.


Dear craig dean,

Thank you for participating in the http://www.sportingbetusa.com daily contest
Please find your entries below, keep this email for your records.

Your Contest Entry for 10.9.2001
---------------------------

Your Questions and Answers:
Question 1.   What will be the Total Number of Walks & Strikeouts By Curt Schilling?
Your Answer:  9_or_10

Question 2.   Which of the Following Players Will Record The Most Hits & Runs?
Your Answer:  Jim_Edmonds

Question 3.   What will be the Total Number Of Players To Pitch in the Cards/DBacks Game?
Your Answer:  6_or_7

Question 4.   What will be the Total Hits, Runs & Errors in The Cards/DBacks Game?
Your Answer:  20_to_24

Tiebreaker.   Pick The Total Pitches Thrown By Matt Morris
Your Answer:  112

We wish you the best of luck with your entry.
If you have any questions or concern, please don't hesitate
to email us at contest@sportingbetusa.com.
Please note, once picked these choices are final,
they may not be changed.


Your getting way to complicated.   This product may not trade much and until
it does we can do most things manually.


John, thanks for the feedback on Mark and Scott.

Regards,

Mark


RIGZONE DAILY NEWS -- TUESDAY, FEBRUARY 5, 2002
------------------------------------------------------------
Daily News from the worldwide upstream oil & gas industry
   to view the complete version, please go to:
   http://www.rigzone.com/newsletter_show.asp?n_id=215
------------------------------------------------------------


Suzanne,

I was out last week, so I am just now getting back with you.  We primarliy
served the Texas Desk commercial team, with about 10% of time spent on
Producer Services.  The non routine activity should be allocated to the Texas
Desk.

D

	From:  Suzanne Nicholie @ ENRON                           10/10/2000 09:36 AM

To: Daren J Farmer/HOU/ECT@ECT
cc:
Subject: Re: OPM Survey

Thanks for your spreadsheet.  One thing I still need from you is what
commercial teams your group was supporting overall ?  In addition, I noticed
you allocated 15 hours to the activity ES002 - Non Routine Trade Monitoring &
Reporting.  What commercial team(s) was this 15 hours spent supporting?

Thanks!
Suzanne

Daren J Farmer@ECT
10/06/2000 05:42 PM
To: James Scribner/Corp/Enron@ENRON, Suzanne Nicholie/Corp/Enron@ENRON, Shari
Mao/HOU/ECT@ECT
cc:

Subject: Re: OPM Survey

I had problems in getting the newest version of Access.  So, please see the
attachement below related to the OPM Hours Survey.


Start Date: 4/19/01; HourAhead hour: 19;  No ancillary schedules awarded.
Variances detected.
Variances detected in SC Trades schedule.
Variances detected in Load schedule.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041919.txt

---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
     Details: (Hour: 19 / Preferred: -145.00 / Final: -125.00)
  TRANS_TYPE: FINAL
  SC_ID: EPMI
  MKT_TYPE: 2
  TRANS_DATE: 4/19/01
  TRADING_SC: EPPS
  PNT_OF_INTRC: SP15
  SCHED_TYPE: ENGY
  PURCH_SALE: 1
  DEAL_NO: 1

---- Load Schedule ----
$$$ Variance found in table tblLoads.
     Details: (Hour: 19 / Preferred:   0.52 / Final:   0.35)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE1
  MKT_TYPE: 2
  TRANS_DATE: 4/19/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 19 / Preferred:   5.74 / Final:   3.76)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE2
  MKT_TYPE: 2
  TRANS_DATE: 4/19/01
  SC_ID: EPMI
$$$ Variance found in table tblLoads.
     Details: (Hour: 19 / Preferred:  52.43 / Final:  34.61)
  TRANS_TYPE: FINAL
  LOAD_ID: PGE3
  MKT_TYPE: 2
  TRANS_DATE: 4/19/01
  SC_ID: EPMI


***REMINDER***

We have not yet received your feedback.  Your input is
very valuable and to be included in the participant's
summary report, it must be received NO LATER THAN CLOSE
OF BUSINESS on Tuesday, May 1, 2001.  Without your
feedback, the participant may not receive a summary
report or be eligible to attend the program.

___________________________________________
* IMMEDIATE ACTION REQUIRED - Do Not Delete *
Executive Impact & Influence Program

Dear Scott Neal,

As part of the Executive Impact and Influence Program,
each participant is asked to gather input on the
participant's own management styles and practices as
experienced by their immediate manager, each direct
report, and up to eight colleagues/peers.

You have been requested to provide feedback for a
participant attending the next program.  Your input
(i.e., a Self assessment, if you are a participant in
this program, Manager assessment, Direct Report
assessment, or Colleague/Peer assessment) will be
combined with the input of others and used by the
program participant to develop an action plan to
improve his/her management styles and practices.  If
you are providing feedback as a Manager of the
participant, please note that your feedback will be
identified in the summary report.

It is important that you complete this assessment NO
LATER THAN CLOSE OF BUSINESS on Tuesday, May 1, 2001.

To begin the online administration process, you will
need the following Internet address and Password(s).
NOTE:  If you are providing feedback for more than one
person, each password and participant name is
individually listed below.

Open your Internet browser e.g., Internet Explorer or
Netscape Navigator, and please type or copy the URL
address below into your Internet browser (please DO NOT
go through Lotus Notes):

www.fsddatasvc.com/enron

D99UHK    (Mark Breese)

If you experience technical problems, please call
Dennis Ward at FSD Data Services, 713-942-8436.  If you
have any questions about this process, you may contact
Debbie Nowak at Enron, 713-853-3304, or Christi Smith at
Leadership Research Institute/Keilty, Goldsmith & Company,
619-216-0404.

Thank you for your participation.


Start Date: 1/29/02; HourAhead hour: 8;  HourAhead schedule download failed. Manual intervention required.


Angela:  Do you have some time today to discuss?  Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 10/27/2000 08:36 AM -----

	"MURIEL McFARLING" <MCFAM@andrews-kurth.com>
	10/26/2000 03:38 PM

		 To: "Danny Sullivan" <SULLD@andrews-kurth.com>, <Alan.Quaintance@enron.com>,
<annmarie.tiller@enron.com>, <bill.bowes@enron.com>,
<brenda.l.funk@enron.com>, <brent.vasconcellos@enron.com>,
<charles.delacey@enron.com>, <Gareth.Bahlmann@enron.com>,
<sara.shackleton@enron.com>, <Trushar.Patel@enron.com>,
<mniebruegge@mayerbrown.com>, <tellwood@mayerbrown.com>,
<mercedes.arango@us.cibc.com>, <schottla@us.cibc.com>, <wolfmark@us.cibc.com>
		 cc: "David Barbour" <BARBD@andrews-kurth.com>, "MURIEL McFARLING"
<MCFAM@andrews-kurth.com>
		 Subject: Hawaii II 125-0 Facility

Attached, in Word Perfect, are the initial drafts of the closing documents
necessary for the new Hawaii II 125-0 two year facility.  The documents are
marked against the original Hawaii 125-0 facility entered into in March of
this year.

Please note that it is the intention of Enron to roll over all of the
tranches in the current Hawaii facility into this two year facility on the
closing date.  Accordingly, we have utilized the existing trust and merely
amended and restated the trust agreement (renaming the trust Hawaii II
125-0).  Because we are utilizing the same trust, I believe that we can roll
over the existing tranches with minimal paperwork - perhaps one omnibus
amendment for each series, setting forth the appropriate references to the
new Nov 15 documents.

I will send Hawaii I 125-0 Facility documents, marked against the Hawaii
II125-0 Facility documents on or before Monday morning.

The attached documents are identified as follows:

Closing Checklist (266026)
Second Amended and Restated Trust Agmt (265272)
RADA (265275)
Beneficial Interest Certificate (265276)
Distribution Agreement (265277)
Subscription Agreement (265278)
Facility Agreement (265273)
Form of Sale and Auction Agmt (266163)
Form of Amended/Restated LLC of Asset LLC (266143)
Form of Amended/Restated LLC of Transferor (266137) and
Schedule to ISDA Master Agmt (265279)

Muriel C. McFarling
Andrews & Kurth L.L.P.
1717 Main Street, Suite 3700
Dallas, Texas 75201
(214) 659-4461
(214) 659-4784 (fax)

 - 266163.wpd
 - 265273.wpd
 - 265275.wpd
 - 265276.wpd
 - 265277.wpd
 - 265278.wpd
 - 265279.wpd
 - 266026.wpd
 - 266137.wpd
 - 266143.wpd
 - 265272.wpd


Looks good, except for the comments on "discourages generation".  Make it
"discourages peaking generation".

Although I agree that any price cap has a "discouraging " impact on the
generation market, it is a matter of degree in this sound bite environment.
To the point, without a creative exit strategy, I would not waste development
money on a 10000-13000 BTU/KWh heat rate peaking project.  However, even with
the FERC order, I will continue to spend money developing base load, 7000
BTU/KWh heat rate projects.  The state is tremendously short on power, the
price cap goes away (theoretically) in two years, $150 is well above the
average expected price in our forcast models (although I agree not above the
price for particular hours if scalers are applied.)

	James D Steffes@ENRON
	11/01/2000 11:39 AM

		 To: Jeff Dasovich/NA/Enron@Enron
		 cc: David Parquet/SF/ECT@ECT, Jeff Dasovich/NA/Enron@Enron, Joe
Hartsoe/Corp/Enron@Enron, Karen Denne/Corp/Enron@Enron, Mary
Hain/HOU/ECT@ECT, Mona L Petrochko/NA/Enron@Enron, mpalmer@enron.com, Paul
Kaufman/PDX/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron, Sarah Novosel/Corp/Enron@Enron, skean@enron.com,
Susan J Mara/SFO/EES@EES, Tim Belden/HOU/ECT@ECT
		 Subject: Re: Message Points

I agree with much of what Jeff has written.  Here are some additions -

On FERC getting a lot right, look at the Order in relation to our 4 key
points filed in the White Paper -
Removing Market Transparency - Still need FERC to take action
Development of Forwards Market and Risk Management - Great results
Removing distortions on Prices - Wrong action
Ending Cal ISO / Cal PX Stakeholder Boards - Great results

On the risk management issue, FERC itself said "The single most important
remedy that California market needs is the elimination of rules that prevent
market participants from managing risk". [FERC PRESS RELEASE]

ADD - FERC Staff did a great job on preparing a detailed analysis of the
market issues.

	Jeff Dasovich
	Sent by: Jeff Dasovich
	11/01/2000 01:17 PM

		 To: Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron,
skean@enron.com, Joe Hartsoe/Corp/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Tim Belden/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT,
Susan J Mara/SFO/EES@EES, Mona L Petrochko/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron, mpalmer@enron.com, Karen Denne/Corp/Enron@ENRON,
David Parquet/SF/ECT@ECT, Paul Kaufman/PDX/ECT@ECT
		 cc:
		 Subject: Message Points

Here are the messages as I understand them.  Please let me know if I've
misconstrued anything.  Thanks.

FERC got  a lot right in the order and we're very encouraged as a result.
In particular, ending the PX buy/sell requirement and permitting utilities to
manage risk through a portfolio of short and long term contracts is a
fundamental step in the right direction.
However, the proposed price cap is unworkable and will jeopardize realibility
in California.  As structured, it will:
discourage the development of new generation to serve California
fail to provide adequate incentives for demand responsiveness.
force Enron to abandon 300 MWs of new power projects planned for California.
We look forward to participating in FERC's process and are hopeful that
FERC's final order will fix the deficiencies in the current price cap
proposal.
We encourage California to work with FERC to implement the proposals and
quickly fix the flaws in the market on behalf of the state's consumers.


Both deals have been changed to reflect a flat $15 fee. And thanks so much
for following up with the IT request for a default change in EnPower. Just
let me know when you hear back.

Kate

Evelyn Metoyer@ENRON
04/17/2001 03:24 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: Commission

deal 582589 and 582423
Can you please adjust the fees to reflect $15.00 flat.  FYI please select
flat instead per mw in the field to the right of currency field.

Thanks
---------------------- Forwarded by Evelyn Metoyer/Corp/Enron on 04/17/2001
05:25 PM ---------------------------

"PAUL CALLAHAN, BLOOMBERG/ NEW YORK" <PCALLAHAN2@bloomberg.net> on 04/17/2001
03:46:36 PM
To: Evelyn.Metoyer@enron.com
cc:

Subject: Re: Commission

That is the commission for those trades. The rate that Bloomberg Powermatch
now charges for cash trades is $15 per trade.


Start Date: 4/26/01; HourAhead hour: 3;  HourAhead schedule download failed.
Manual intervention required.


Martha, I don't have any bullets but could you please send me last week's --
I think there are some old ones that need to be deleted.  Thanks.

MARTHA
BENNER
12/07/2000 01:00 PM

To: Lee Huber/ET&S/Enron@ENRON, Tony Pryor/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON
cc: Janet Cones/FGT/Enron@ENRON, Denise LaGesse/ET&S/Enron@ENRON, Ann
Smith/ET&S/Enron@ENRON

Subject: Bullets

Please get your bullets in tomorrow in the morning.  Tomorrow night is our
Christmas party and we want to leave the office early so we can get home and
get pretty before the event.

Thanks......Martha


I tried to call you last night around 6:00.  I was unable to leave a message on your home machine or cell.  Really nothing too pressing but Schonne is wanting to follow up with us on our plans.. I did talk to him and told him not to assume that our PGT capacity will go to NEWCO, because NEWCO does not really exist and may never... SO, I told him to review  the tariff and make a determination as to whether or not it is still ours to use, if it isn't, then we don't really need to talk.. it they determine it is still ours, then we need to think about what the estate should do with it, including the upstream parts.

Call me this a.m.

BT

-----Original Message-----
From: Miller, Stephanie
Sent: Wednesday, December 12, 2001 7:19 AM
To: Tycholiz, Barry
Subject: still here - will call later


FYI.

-----Original Message-----
From: Swerzbin, Mike
Sent: Thursday, September 27, 2001 3:50 PM
To: Presto, Kevin M.
Subject: FW: FYI L-P

Some South East Power infomation
-----Original Message-----
From: Malowney, John
Sent: Thursday, September 27, 2001 11:46 AM
To: Swerzbin, Mike
Subject: FW: FYI L-P

-----Original Message-----
From: Roger Dieringer [mailto:Roger.Dieringer@lpcorp.com]
Sent: Thursday, September 27, 2001 11:42 AM
To: Malowney, John
Subject: FYI

Industry notes on curtailments and closures

RandomLengths
09/27/2001

Plywood/OSB

Advanced Wood Resources, Brownsville, Ore., will cease all operations as of November 20. "Severe competition from the lower-priced OSB, combined with challenging economic conditions and rising costs associated with increased environmental standards," were cited as reasons for the closure.

Georgia-Pacific has announced plans to shut down nine plywood mills in the South for one week starting October 1 to replenish log supplies.

Hunt Forest Products will shut down its plywood mill in Natalbany, La., for one week starting October 1 due to tight log supplies.

LP has announced market-related downtime at most of its U.S. and Canadian OSB mills. Most of the mills will be down a minimum of one week, starting October 8. Plants in Sagola, Mich., and Jasper, Texas, will be down the week of October 1. Hayward, Wis., will be down the week of October 15. Carthage, Texas, will be down the week of September 24. And Silsbee, Texas, will be down the week of October 8 and for four to six weeks thereafter for a press rebuild.

Willamette Industries' plywood mill in Dodson, La., will shut down the week of September 24 for scheduled maintenance.

LUMBER

Harwood Products, Branscomb, Calif., has cut production by 20% due to market conditions

Weyerhaeuser will close its three Cedar sawmills in British Columbia for an indefinite duration beginning next week. Market conditions were cited.

Canadian Forest Products will reduce output at its sawmills in British Columbia and Alberta by an estimated 70 million board feet during October.

Abitibi Consolidated plans to cut production by about 25% at all of its sawmills over the next four weeks. "Market conditions and supplemental export costs" were cited as reasons for the curtailments.

Slocan Forest Products will reduce production by 30 million board feet by curtailing production the first week of October

For more information, visit RandomLengths <http://www.randomlengths.com/>

Roger Dieringer
Corporate Supply Manager - Energy
936.788.9759  Phone
936.524.0609  Cellular Phone
888.710-0640  Pager


Errol,

Do you have any news on the $579,708.72 payment for Vitro Corporativo?
The customer is asking about this payment. Please let me know.

Agustin Perez


Mark:  This is a chronic problem which I have addressed with Cheryl on more
than one occasion (hence the email of this morning).  Her priorities are not
currently with the swap group.  Also, Carol will not be a reliable backup for
structured deals since Julia's group will demand more of her time.  I don't
know what Angela's load will be like as an ongoing substitute.  Last night we
received notice of Yosemite IV and I'm hoping that Angela can cover.
Alternatively, we may need to consider Frank, Francisco or Cheryl.

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com
----- Forwarded by Sara Shackleton/HOU/ECT on 03/21/2001 09:04 AM -----

	Cheryl Nelson@ENRON
	Sent by: Cheryl Nelson@ENRON
	03/21/2001 08:48 AM

		 To: Sara Shackleton/HOU/ECT@ECT
		 cc: Mark Taylor/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT
		 Subject: Scheduling & Conflicts

Sara,

Keegan has notified me this morning (!) that my calendar contains a sheduling
conflict (again) between the swaps group meeting which is 10-11 and a meeting
with representatives coming from GE.  I think Keegan got confused or
something.  Since this has happened before, I am going to sit down with
Keegan this afternoon to discuss how to schedule and to troubleshoot
scheduling issues.

For today, I am going to try to do this - I am going to try to end the GE
meeting early but I cannot promise.  As I explained to Keegan, since the GE
meeting is with someone traveling to Enron to attend and is critical to Enron
Corp., I will not be able to cancel it at the last minute.

If I do not attend, please apologize to the Group to me.  I am a bit
frustrated because I certainly wanted to attnd to find out what everyone else
is working on and to report on what I am doing.  I will try to email an
update in advance and if you do not mind, maybe you could share it with the
Group.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693
----- Forwarded by Cheryl Nelson/NA/Enron on 03/21/2001 08:42 AM -----

	Cheryl Nelson
	Sent by: Cheryl Nelson
	03/21/2001 08:35 AM

		 To: Keegan Farrell/NA/Enron@Enron
		 cc:
		 Subject: Scheduling & Conflicts

Hi Keegan,

Thank you for calling this morning to provide me with my schedule for today.

I want to share some constructive advice on how to fine tune our strategy
with respect to scheduling because Keegan this is critical to my providing
the best legal counsel I can to the various clients we serve.  You indicated
that there is a conflict on the schedule in that there is a 9:30-10:30
meeting that conflicts with the Swaps Group meeting.  We do not want to
schedule conflicting meetings and then realize it at the last minute and then
just notify one group that we can't attend.

What you want to do is this:  You want to try at the time of the invitation
to attend or as soon as practicable to notify me that there would be a
potential conflict.  Then I will try to rescheduel.  This is especially
important because the meetings with GSS are usually with folks from outside
Enron, so once we agree to attend, it is nearly impossible the morning before
to try to reschedule.  But the swaps meetings and credit meetings are very
important and there are a lot of issues I need to discuss and anticipated
attending.  Also and I have missed some in the past due to scheduling
conflicts.

Again, I also hope and need for you to take this advice constructively and
not personally.  I appreciate all of your efforts, Keegan.

Let's meet this afternoon to talk strategy.  Please note on my calendar that
Ischeduled two meetings this morning, one at 2:30 and one immediately
following at 3:30 until 5.  So we should meet before then.

Cheryl Nelson
Senior Counsel
EB3816
(713) 345-4693


-----Original Message-----
From: 	Heizenrader, Tim
Sent:	Wednesday, October 17, 2001 8:08 AM
To:	Allen, Phillip K.
Cc:	Nelson, Kourtney
Subject:	RE:

Phillip:

The target for end of October is 1283. We're not sure what's driving the day to day variation. Direct effects of recent precipitation, combined with some very big precip forecast errors, are part of the explanation, but there also appears to be something going on with management of the non-treaty storage that BPA's cached upstream in Arrow. We've been looking into that, and hope to get some news via Technical Management Team today.

From a multi-purpose project manager's perspective, I think that current reservoir elevation is one or two feet too high, so I do expect drawdown by month end. I also suspect that there are some limits in the non-treaty storage approaching that require at least partial withdrawal.

The net effect should be a rise in production-- no more downstream storage is available and upstream releases will increase, certainly by November 1, but probably earlier.

Tim
 -----Original Message-----
From: 	Allen, Phillip K.
Sent:	Wednesday, October 17, 2001 7:31 AM
To:	Heizenrader, Tim
Subject:

Tim,

Since the three nuclear units have gone down there has been a significant increase in imports into California from the northwest which coincides with increased hydro output.  This has continued to suppress Socal gas sendouts.    Grand Coulee outflows on Monday and Tuesday have exceeded inflows.  Monday: In-69.8, Out-73.4; Tuesday: In-57.7, Out 68.2.  The elevation is starting to creep lower.

Can you help us with these questions?  Will this drafting to continue?  What is the elevation target for the end of the month?  Why did yesterday's inflow decline so much?

Thank you,

Phillip Allen


<http://images.commissioner.com/images/spln_fantasy_hdr_600.gif>Fantasy Football Newsletter
November 16, 2001

      <http://cbs.sportsline.com/images/newsletter/magnify.jpg>Fantasy Sports <http://fantasy.sportsline.com>     <http://cbs.sportsline.com/images/newsletter/magnify.jpg>Fantasy Football <http://football0.commissioner.com/mp/pro-home?league=zero>     <http://cbs.sportsline.com/images/newsletter/magnify.jpg>CBS SportsLine.com <http://cbs.sportsline.com>

Welcome to another edition of the 2001 Fantasy Football Newsletter!

The Fantasy Football newsletter will arrive in your e-mail inbox every Friday. We'll include news about the web site; tips on using all the features available; and answers to your player-related questions from the "Gridiron Guru."

  <http://cbs.sportsline.com/images/newsletter/pixel.jpg>	Inside

* Plan for the Playoffs

* Game-by-Game Analysis

* Gridiron Guru

* Tip of the Week

 <http://www.sportsline.com/links/4/1/65/1/payyoutoshop.cgi>	  <http://www.sportsline.com/links/6/5/12/sffpn1116w.cgi>	  <http://www.sportsline.com/links/6/5/3/sffpn1116ffr.cgi>
  _____

Plan for the Playoffs

The Fantasy season is nearing its end, and the playoffs are on the horizon. For Fantasy 2001 players, the playoffs begin with NFL week 15 (games of Dec. 22-23) and last two weeks, with the championship game in week 16 (games of Dec. 29-30.)

If you're in a Football Commissioner league, go to Schedule, Playoffs to see when your playoffs start and how many rounds they last. Of course, the matchups are probably still not determined, so you may not see teams listed in the brackets. The commissioner of your league is responsible for adding the teams to your playoff brackets at the end of your regular season.

If your team is still in contention, go to NFL Teams, Schedule and take note of the NFL teams with byes during your playoff weeks, so you know which players will be available if - and WHEN - your team competes in a playoff matchup.

  _____

Game-by-Game Analysis

Go to Players, Game Log to see how a particular player did in each game this season. The player's statistics in the common categories will be displayed for each game. If you are breaking down free agents, the game log is great way to see who's been getting the most consistent production.

  _____

Gridiron Guru

Welcome to Gridiron Guru, where we'll answer your questions about players and offer Fantasy Football roster advice. We invite you to send your own scouting reports and comments on players to: gridguru@commissioner.com <mailto:gridguru@commissioner.com>. You'll get the chance to be heard by thousands of Fantasy players just like yourself!

Question - Mike Blake

I'm having trouble filling my No. 2 WR spot. Should I start Az-Zahir Hakim, Todd Pinkston or Muhsin Muhammad in week ten?

Answer - GG

Hakim is a hit-or-miss type, so he's risky. Pinkston has done nothing in his last four games, and he's losing playing time to Freddie Mitchell. Muhammad bounced back from a few bad performances to catch six passes for 75 yards last weekend against St. Louis, and has had some past success against this week's opponent, San Francisco. Go with Muhammad.

Question - Russell Brown

My league starts 2 QBs. Donovan McNabb is one of my starters. Who else should I start? I have Tom Brady, Vinny Testaverde and Doug Flutie.

Answer - GG

Testaverde's Fantasy value has taken a real hit this season because of the Jets' conservative offense. Flutie struggled last week against a bad Denver secondary, and won't have an easier time against Oakland. We'd suggest playing Brady, who will start against St. Louis despite the return of Drew Bledsoe. Brady has thrown 11 touchdowns in his last five games, and is playing too well to bench.

Question - Chris Gilcrest

Who would you start at QB this weekend: Rich Gannon or Kerry Collins? Which one of these four RBs would you bench: Eddie George, Michael Pittman, Mike Anderson, Curtis Martin?

Answer - GG

Collins has the better matchup of the two QBs, but he's far too inconsistent to start over a player like Gannon. Oakland will be looking to bounce back from a subpar performance against Seattle, so look for Gannon to have a solid game. As for your second question, bench Mike Anderson. You can't bench Martin, no matter how bad the matchup may be. George has four touchdowns in his last three games against Cincinnati, and is worth starting despite his struggles this season; and Pittman's matchup against Detroit is too good to ignore.

  _____

Tip of the Week

Keith Simmons, Boulder, CO: Can Terrell Davis ever stay healthy? He comes back and teases Fantasy owners with his solid play over the last two weeks, only to fall prey to another knee injury this past Sunday. He was once the best Fantasy player in the league, but now Davis is an unreliable, injury-prone shell of his former self.

This message has been sent to frank.ermis@enron.com, provided free of charge and free of obligation. If you prefer not to receive emails of this nature please send an email to remove@commissioner.com <mailto:remove@commissioner.com>. Do not respond to this email directly.


The biggest secret in the energy industry is out.

Over 40,000 energy professionals read Enerfax Daily for free daily energy prices, futures and news. To receive your free text copy send an email to join-Enerfaxtext@relay.netatlantic.com <mailto:join-Enerfaxtext@relay.netatlantic.com>  which includes 35 locations of daily natural gas prices and 15 locations of daily power prices.

Outlook users c! an receive our free web mail, write join-EnerfaxDaily@relay.netatlantic.com <mailto:join-EnerfaxDaily@relay.netatlantic.com>, which includes the same information in a web/html format.

Please visit our website at <http://www.enerfax.com> to view today's energy news and prices.

A free subscription for gas and oil prices is available at <http://www.enerfaxgold.com> or! write enerfaxgold-subscribe@egroups.com <mailto:enerfaxgold-subscribe@egroups.com>


It was not meant as an implication, but rather a reiteration of mind-sets
expressed to me on multiple occasions.

	Enron Capital & Trade Resources Corp.

	From:  Tobin Carlson                           03/28/2000 12:32 PM

To: Benjamin Freeman/Corp/Enron@ENRON, Susan M Scott/HOU/ECT@ECT, Nicholas J
Stephan/HOU/ECT@ECT, Sunil Dalal/Corp/Enron@ENRON, Lisa Gillette/HOU/ECT@ECT
cc:
Subject: Re: The life of an egg....

I think you may, in fact, be onto something there Sir Freeman. :)

To: Susan M Scott/HOU/ECT@ECT
cc: Lisa Gillette/HOU/ECT@ECT, Tobin Carlson/HOU/ECT@ECT, Nicholas J
Stephan/HOU/ECT@ECT, Sunil Dalal/Corp/Enron@ENRON
Subject: Re: The life of an egg....

That was an insightful commentary on the male condition. I guess you're
implying that all of us guys need a good lay or day. Even Lisa too.


Attached is the current web page for South Texas College of Law's Docket
Call - Monthly Video CLE courses.  The link is provided below if your
mail client is unable to display the page properly.

http://www.stcl.edu/cle/docket2000dec.html

SOUTH TEXAS

COLLEGE OF LAW

C L E

	CLE DOCKET CALL
	VIDEO CONFERENCE

CONTINUING LEGAL EDUCATION
testtesttesttesttesttesttest

	December, 2000

	Videos of previous CLE conferences are shown at the end of each month at
South Texas College of Law.
	All video courses are accredited by the State Bar of Texas MCLE Department
for CLE participatory credit.
	You may register to attend by the hour or per session.

	(713) 646-1757 or (800) 646-1253

	Docket Call Home PageSPACERRegistration Form

	WILLS & PROBATE INSTITUTE
	Wednesday, December 13, 2000
	5:30 p.m. - 7:30p.m.
	(2 MCLE hours)

	How to Get Documents from Financial Institutions:
	Where to Find the Statutory Requirements, How to Use Them, Helpful Tips and
Forms

	Leslie Kiefer Amann, Bank of America Private Bank - Houston

	From the Bench:
	Practice, Procedure and Jurisdiction with Local Rules and Court Handouts

	Dianne Whitehorn Lawter, Lawter & Lawter, L.L.P. - Houston
	Hon. Mike Wood, Harris County Probate Court Number 2 - Houston
	Hon. Nikki Towry DeShazo, Dallas County Probate Court - Dallas
	Hon. Sandee Bryan Marion, Bexar County Probate Court Number 2 - San Antonio

	Case Law Update

	Professor Gerry W. Beyer, St. Mary's University School of Law - San Antonio

	(Return to top)

	WILLS & PROBATE INSTITUTE
	Thursday, December 14, 2000
	5:30 p.m. - 7:30 p.m.
	(2 MCLE hours)

	Statutory Forms Update:
	An Overview of State Statutory Forms Revised by the 1999 Texas Legislature
(including other "Ancillary" Forms)

	Bernard E. Jones, Davis, Rideout, Jones & Gerstner, L.L.P. - Houston

	Current Issues in Guardianship Administration and Litigation

	Sarah Patel Pacheco, Crain, Caton & James, P.C. - Houston

	Litigating the Will Contest

	Julie M. Dallison, Horrigan & Goehrs, L.L.P. - Houston

	(Return to top)

	WILLS & PROBATE INSTITUTE
	Saturday, December 16, 2000
	8:30 a.m. - 12:30 p.m.
	(4 MCLE hours, including 2 hours of legal ethics)

	Ethics Traps for the Probate Practitioner and How to Avoid Them, with Forms
and the Latest Case Law (1 hour of ethics)

	John Hopwood, Locke Liddell & Sapp LLP - Houston
	Robert MacIntyre, Jr., Thompson Knight Brown Parker & Leahy L.L.P. - Houston
	Billy Shepherd, Cruse, Scott, Henderson & Allen - Houston

	Litigation Concerns for Estate Planners, including Ethical Issues Related to
Conflicts of Interest and Client Communications (.25 hour of ethics)

	Dianne Whitehorn Lawter, Lawter & Lawter, L.L.P. - Houston

	Fiduciary Compensation Issues, with a Survey of the Four Harris County
Probate Courts and Ethical Issues (.25 hour of ethics)

	Georgia H. Akers, Staff Attorney/Court Coordinator, Harris County Probate
Court Number 3 - Houston

	Saving the Family Relationship:
	Mediation of a Probate Dispute with a Discussion of Confidentiality and Other
Ethical Issues, along with Forms and a Checklist (.25 hour of ethics)

	Edward V. Smith III, Graham, Smith & Lindquist, L.L.P. - Dallas

	Family Limited Partnerships:
	From Planning to Litigation, including How to Avoid Breach of Fiduciary Duty
Issues (.25 hour of ethics)

	Jack W. Lawter, Lawter & Lawter, L.L.P. - Houston
	John W. Porter, Baker Botts, L.L.P. - Houston
	Charles Elliott, Howard, Frazier, Barker, Elliott, Inc. - Houston

	Admitting and Excluding Documentary Evidence

	Hon. Russell P. Austin, Harris County Probate Court Number 1 - Houston

	The entire set of course materials
	from the live conference
	are available for half-price!
	$70

	To Register:

	(Return to top)

Home[IMAGE]Library[IMAGE]Search


Attached is PIRA's latest "Electricity Daily Demand Forecast."

If you have any questions regarding the report's content, please contact
Morris Greenberg (email: morris@pira.com) or Victoria Watkins (email:
vwatkins@pira.com), at (212) 686-6808.

Contact Client Services regarding PIRA report distribution and address
changes at (212) 686-6808, email: support@pira.com.

NOTE: Circulation of the "Electricity Daily Demand Forecast" outside a
Client's licensed distribution area is strictly prohibited. Clients that
are unsure of their licensed distribution or require an extension of
their current license should contact their PIRA sales representative, or
email to sales@pira.com.

PIRA Energy Group

 - ed111901.pdf
 - ed111901.xls


I am attaching a first cut of the California Missteps. It shall be updated
post feedback. Adam and Sue I shall reach you shortly on the phone

Ban

James D Steffes@ENRON
06/18/2001 09:58 PM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Paul
Kaufman/Enron@EnronXGate, Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/NA/Enron, Jennifer Thome/NA/Enron@Enron, Ban
Sharma/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan Comnes/Enron@EnronXGate,
Harry Kingerski/NA/Enron@Enron, Mark Palmer/Corp/Enron@ENRON, Karen
Denne/Corp/Enron@ENRON, Janel Guerrero/Corp/Enron@Enron, Linda
Robertson/NA/Enron@ENRON, John Shelk/NA/Enron@Enron, Ray
Alvarez/NA/Enron@ENRON
cc:

Subject: ANALYSIS OF CALIFORNIA MISSTEPS

Just to make sure that everyone is on the same page, Ban Sharma is working
with Seabron Adamson and Sue Mara to complete the work below.  If people need
any other information (or a specific presentation), please let Ban know.

Thanks,

Jim

---------------------- Forwarded by James D Steffes/NA/Enron on 06/18/2001
11:22 AM ---------------------------
From: Jeff Dasovich on 06/15/2001 09:09 AM
Sent by: Jeff Dasovich
To: James D Steffes/NA/Enron@Enron
cc: Ban Sharma/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul
Kaufman/Enron@EnronXGate, Richard Shapiro/NA/Enron@ENRON, "Seabron Adamson"
<seabron.adamson@frontier-economics.com>, Susan J Mara/NA/Enron@ENRON

Subject: Re: ANALYSIS OF CALIFORNIA

In particular, would be nice to know how much of the "wealth transfer" went
to the likes of LADWP, other CA munis, Calpine, and the federal government
(e.g., BPA, Salt River).  Finally, how much did the utilities profit from the
high prices (i.e., from selling their excess gen into the PX)?

Best,
Jeff

	James D Steffes
	06/14/2001 09:50 AM

		 To: "Seabron Adamson" <seabron.adamson@frontier-economics.com>
		 cc: Susan J Mara/NA/Enron, Richard Shapiro/NA/Enron@Enron, Ban
Sharma/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeff Dasovich/NA/Enron@Enron,
Paul Kaufman/Enron@EnronXGate
		 Subject: ANALYSIS OF CALIFORNIA

Seabron -

Here is an outline of the work product we would like you to consider --

1. How much did the LACK OF POLITICAL LEADERSHIP / LUNACY cost California
consumers?
 + LUNACY = CPUC did not accept $60/Mwh last year
 + unwillingness to fix credit problems
 + Bad CDWR buying habits
 + other

2. Analyze key Cal ISO studies dealing with "overearning" and market abuse.
 + Methodological faults
 + Analyze Key Findings
 + Develop appropriate "Enron" responses

3. Develop framework to assist in responding to political "calls" for market
controls
 + Understand better who "won" from the WEALTH TRANSFER
 + How much was transferred to "Texas generators"?

4. Other fixes still needed
 + A/S markets in California
 + Governance issues
 + other?

I hope this helps frame the work.

Jim


---------------------- Forwarded by Mary Clark/Corp/Enron on 03/16/2000 12:40
PM ---------------------------

Lon Allchin
03/16/2000 10:33 AM
To: Mary Clark/Corp/Enron@ENRON
cc:

Subject: London All Employee Meeting

Mary, I just wanted to let you know how great I thought the London meeting
went using the IP-TV technology.  I found it of very high quality and easy to
use.  Most people in my department also "tuned-in" for at least some portion
of the program and all thought it was a resounding success.  A few folks who
use laptops and docking stations did not have soundcards which meant they
could see but not hear the presenters.  I and some others minimized the
screen and continued or normal work while still listening to the audio.  Good
Job!  We will be looking at this technology as another delivery option for
our various training programs.

By the way, here is the link for the EBS page which demonstrates what can be
accomplished using the Enron Net .  Access this directly from the Enron
Intranet home page.  -Lon-

http://stationcast.com/ie/default.htm


Baby News!

EnFORM,
It is my great privilege to announce one of EnFORM  Technology's greatest 'deliveries' since our small company began over  three years ago.   As  you may have heard, on June1st,  at 6:46pm,a small handful of EnFORMers  completed one of the most ambitious technology integration projects in the  history of modern B2B e-commerce initiatives.TrueQuote.com, a web based energy trading exchange, successfully  interfaced it's product and trading transaction engine to the largest  e-commerce site in the world, Enron Corporation's EnronOnline.com. EnronOnline trades approximately $3Billion in energy related products and  services every day making it (by  far)the largest e-commerce platform in  the world.
The magnitude of this achievement can not be understated.  Many doubted that it was technically feasible, and many others thought it was  out-right impossible to keep the trading engines of two completely different  platforms completely synchronized. Well, it is with great pride that I report  to you that since going live with the interface, TrueQuote.com (developed  using SQL Server 2000, VB / COM+, ASP, and a whole-lotta XML) not only keeps in  lock-step synchronization with EnronOnline.com (a Java, Oracle8i, and Web-logic platform), the two platforms have exchanged  over 1.25Million orders in just a few weeks, averaging between 50-75,000every daywith  less than a 1/2 second of latency between the two platforms for each  order.
When you get a chance,  congratulate the team for delivering such an impressive achievement.   Since going live, the baby hasn't even burped!
-Stewart

 - Baby News Bkgrd.gif


eSource presents Dow Jones Interactive training

Attend one of our Topical Dow Jones Interactive Clinics:

Advanced
Learn how to be more efficient on Dow Jones Interactive.  Put some power
tools to work for you.  Learn how to employ codes, use search history, and
customize.  Hands on time is provided.

May. 31   9:00 - 10:30 AM   EB564
May. 31 10:30 - 12:00 NOON  EB564

Seats fill up fast! To reserve a seat, please call Stephanie E. Taylor at
5-7928
The cost is $25.00 Per Person
No Shows will be charged $50.00
* Please bring your Dow Jones Interactive login ID and password. If you don't
have one, a guest ID will be provided.

Check the eSource training page at http://esource.enron.com/training.doc for
additional training sessions and vendor presentations

http://esource.enron.com


Marlene:  the following information per your request to set up Transcolorado
Pipeline in Global.

Transcolorado Gas Transmission Company
Interstate pipeline
Address:  370 Van Gordon Street
                    Lakewood, CO  80228
Phone # (Main) 303-763-3673
Contact:  Steve Irizarry  303-763-3473
Rate Zones:  Rocky Mountains
                          San Juan

Imelda:  the curves you need to set up are
Rocky Mountains:  curve will be Wyoming Hub
San Juan:  curve will be El Paso San Juan Non-Bondad

Thanks, and let me know if there are any additional questions.


COLUMBIA GAS TRANSMISSION CORPORATION
                        NOTICE TO ALL INTERESTED PARTIES
                                OCTOBER 27, 2001

Notice ID: 3220
5 - NO RESPONSE REQUIRED

SUBJECT: REV. CAPACITY ALLOCATION-TIMELY NOMINATION CYCLE FOR OCTOBER 28, 2001

PLEASE NOTE THAT ALL ALLOCATIONS ARE SUBJECT TO CHANGE BASED ON THE RECEIPT OF
ANY NEW NOMINATIONS OR INTRADAY NOMINATIONS.

RECEIPTS:

TENNESSEE:

UNIONVILLE:  New IPP received available capacity.

LEBANON AGGREGATE:  New IPP received available capacity.

TRANSCO:

EMPORIA:  New IPP received available capacity.

Excess MDWQ               Available +
ISS Withdrawals           Available
SIT Withdrawals           Available
Imbalance Drawdowns       Available

Excess MDIQ               Not Available +
ISS Injections            Not Available
SIT Injections            Not Available
Imbalance Paybacks        Not Available

PAL Lends/Unparks         Available
PAL Parks/Loan Paybacks   Not Available

+ Call Gas Control 24 hours in advance at (304) 357-2606 to request approval.

Columbia Gas Transmission has completed allocating all of its receipt and
delivery points for the gas day of October 28, 2001.  You may now view the
quantities you are authorized to flow on October 28, 2001.  On the Internet
NAVIGATOR, view Nominations, Scheduled Quantity, Scheduled Quantity for Service
Requestor-Summary, Nominations to be Viewed, and select Reduced Nominations.
The quantities confirmed to flow for your account are available on the Internet
NAVIGATOR after 5:30 p.m. Eastern Time on Thursday, October 28, 2001.

If you have any questions, please contact your Account Representative.


Here's a couple of clauses from some other contracts:

From ABB contract:

Maximum Liability.  Seller,s maximum aggregate liability for claims by
Purchaser arising out of Seller,s performance of this Agreement whether
arising from tort (including negligence), breach of contract or any other
cause of action is limited to one hundred percent (100%) of the Purchase
Amount; provided, however, that the foregoing limitation of liability of
Seller shall not apply to the following:

(i) under Article XX (Indemnification);

(ii) under Article XXIV (Liens and Claims);

(iii) Section 3.8(a) and 3.8(b), (Compliance with Governmental Rules);

(iv) Section 5.2 (Taxes);

(v) Article XIX obligation to maintain insurance;

(vi) arising from or related to environmental harm caused by an action or
inaction of Seller, its agents, employees or Vendors during the performance
of the Scope of Work;

(vii) resulting from the gross negligence or willful misconduct of Seller,
their agents, employees or Vendors;

(viii) patent or copyright infringement in accordance with Section 15.2, or
(ix) Article XXI (Non-Disclosure of Information).

which liabilities shall not be limited.  Additionally, any liability of
Seller provided for by the proceeds of the insurance maintained pursuant to
Article XIX shall not be counted toward any of the foregoing limitations of
liability.

The indemnity language in the ABB contract probably wouldn't work.  I'll look
around.


Now thats a ture "Pig Farmer" poem if I ever heard one.

I would have sent flowers to my beloved in Ohio if someone would have given
me her address.

Matthew B Fleming@EES
02/14/2001 11:47 AM
To: Heidi Griffith/DUB/EES@EES, Chris Germany/HOU/ECT@ECT
cc:
Subject:

---------------------- Forwarded by Matthew B Fleming/HOU/EES on 02/14/2001
11:46 AM ---------------------------

Will_Cistone@notes.grainger.com on 02/14/2001 11:46:09 AM
To: Tim Cistone <TCistone@aercpa.com>, mfleming@enron.com,
tcoynejr@coyneassociates.com, Ulbert.C@grainger.com, Keefer.C@grainger.com,
Andersen.S@grainger.com, RGrimes@checkfree.com, "Brad Kennan"
<braken@columbus.rr.com>
cc:
Subject:

         REDNECK VALENTINE!

    Collards are green,
    my dog's name is Blue
    and I'm so lucky
    to have a sweet thang like you.

    Yore hair is like cornsilk
    a-flappin in the breeze.
    Softer than Blue's
    and without all them fleas.

    You move like the bass,
    which excite me in May.
    You ain't got no scales
    but I luv you anyway.

    Yo're as satisfy'n as okry
    jist a-fry'n in the pan.
    Yo're as fragrant as "snuff"
    right out of the can.

    You have some'a yore teeth
    for which I am proud.
    I hold my head high
    when we're in a crowd.

    On special occasions,
    when you shave under yore arms,
    well, I'm in hawg heaven
    and awed by yore charms.

    Still them fellers at work,
    they all want to know,
    what I did to deserve
    such a purdy, young doe.

    Like a good roll of duct tape
    yo're there fer yore man,
    to patch up life's troubles
    and fix what you can.

    Yo're as cute as a junebug
    a-buzzin' overhead.
 You ain't mean like those far ants
    I found in my bed.
    Cut from the best cloth
    like a plaid flannel shirt,
    you spark up my life
    more than a fresh load of dirt.

    When you hold me real tight
    like a padded gunrack,
    my life is complete.
    Ain't nuttin' I lack.

    Yore complexion, it's perfection,
    like the best vinyl sidin'
    despite all the years,
    yore age, it keeps hidin'.

    Me "n" you's like a moon pie
    with a RC cold drank,
    we go together
    like a skunk goes with stank.

    Some men, they buy chocolate
    for a Valentine's Day,
    they git it at Wal-Mart,
    it's romantic that way.

    Some men git roses
    on that special day
 from the cooler at Krogers,
    that's impressive, I say.

 Some men buy fine diamonds
    from a flea market booth.
    "Diamonds are forever",
    they explain, suave and couth.

    But for this man, honey,
    these won't do.
    Cause yo're too special,
    you sweet thang you.

    I got you a gift,
    without taste nor odor,
    more useful than diamonds....
    IT'S A NEW TROLL'N MOTOR!!!


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/05/2000
11:08 AM ---------------------------

Tanya Tamarchenko
05/05/2000 08:37 AM
To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Pinnamaneni
Krishnarao/HOU/ECT@ECT, Vasant Shanbhogue/HOU/ECT@ECT, Mike A
Roberts/HOU/ECT@ECT, Joseph Hrgovcic/HOU/ECT@ECT, Kevin G Moore/HOU/ECT@ECT,
Grant Masson/HOU/ECT@ECT, Tanya Tamarchenko/HOU/ECT@ECT, Zimin
Lu/HOU/ECT@ECT, Vincent Tang/HOU/ECT@ECT, Alexios Kollaros/HOU/EES@EES,
Rodney Keys/Corp/Enron@ENRON, Maureen Raymond/HOU/ECT@ECT, Martin
Lin/HOU/ECT@ECT, Osman Sezgen/HOU/EES@EES, Paulo Issler/HOU/ECT@ECT, Patricia
Tlapek/HOU/ECT@ECT, Farouk Lalji/HOU/ECT@ECT, Amitava Dhar/Corp/Enron@ENRON,
Alex Huang/Corp/Enron@ENRON, Ronnie Chahal/HOU/EES@EES, Kevin
Kindall/Corp/Enron@ENRON, Clayton Vernon/Corp/Enron@ENRON, DeMonica
Lipscomb/Corp/Enron@ENRON, William Smith/Corp/Enron@ENRON, Leandro
Ibasco/Corp/Enron@Enron, Jose Marquez/Corp/Enron@ENRON, Samer
Takriti/Corp/Enron@Enron, Chonawee Supatgiat/Corp/Enron@Enron, Shalesh
Ganjoo/HOU/ECT@ECT, Guadalupe Margain/Corp/Enron@Enron, Tom
Halliburton/Corp/Enron@EnronShirley Crenshaw/HOU/ECT, Samantha T
Davidson/HOU/ECT@ECT, Li Xiao/Corp/Enron@Enron, Yvan Chaxel/Corp/Enron@ENRON,
Mike Fowler/Corp/Enron@ENRON, Rudi Zipter/HOU/ECT@ECT, Vladimir
Gorny/HOU/ECT@ECT, Naveen Andrews/Corp/Enron@ENRON, Matthew
Adams/Corp/Enron@ENRON
cc:
Subject: "Three Centuries of Great Vocal Music" - concert

Dear friends,
I am sending you the information about a program my friends Tatiana Kazhdan
and Michael Bukhman are going to present on Sunday, June 4
at Congregation Beth Yeshurun. I think you might be interested.

Tanya.
------------------------------------------------------------------------------
------------------------------------------------------------------------------
-------------
"Three Centuries of Great Vocal Music"

In the program:
Bach, Handel, Pergolesi, Gluck ;
Brahms, Liszt, Massenet, Martinie;
Borodin, Rubinstein, Rachmaninoff.

Performers:
 Tatiana Kazhdan, Moscow  (contralto)
 /participant of TV and Radio International, festivals in Russia, France and
Spain/

 Michael Bukhman, Israel (piano)
 /winner of Texas (Houston) Music Teachers Association competitions,
 international master classes and piano festivals/

Sunday, June 4, 2000 at 6 p.m.
Congregation Beth Yeshurun
4525 Beechnut St

Tickets: $10, senior citizens $5
Tickets are available at the door or in Russian General Store: (713) 664-3587


In all the confusion last week, I can't remember if we figured this one out!
Let me know.

Kate

Evelyn Metoyer@ENRON
02/15/2001 03:22 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: deal 523015-Mike Swerzbin

Kate this trade is from yesterday.

Prebon sent over a confirm for off-peak hours and then sent a revision to
peak hours.  Which one is it?


This stuff is so much better than it was 20 years ago.  It is amazing how
things have changed.

Did you know that they now tell you to have  babies sleep on their backs?
That is totally different from when Paige was a baby.  It was hard to get
used to.

Kay

From: Kathleen Carnahan/ENRON@enronXgate on 05/29/2001 08:40 AM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: RE: FW: Revised form of Memorandum of Option

That would be wonderful!  I was looking at those online this weekend.  I used
play pens all of the time for my children.

Thanks very much.

 -----Original Message-----
From:  Mann, Kay
Sent: Tuesday, May 29, 2001 8:38 AM
To: Carnahan, Kathleen
Subject: RE: FW: Revised form of Memorandum of Option

I have a pretty cool portable play pen you can have if you want.


COLUMBIA GAS TRANSMISSION CORPORATION
                        NOTICE TO ALL INTERESTED PARTIES
                                NOVEMBER 21, 2001

Notice ID: 3287
5 - NO RESPONSE REQUIRED

SUBJECT:  CAPACITY UPDATE EFFECTIVE FOR FRIDAY, NOVEMBER 23 THROUGH
          SUNDAY, NOVEMBER 25, 2001

                 THERE ARE NO CHANGES FROM PREVIOUS DAY

Effective Friday, November 23 through Sunday, November 25, 2001, capacities
will be as follows:

Excess MDWQ              Available +
ISS Withdrawals          Available
SIT Withdrawals          Available
Imbalance Drawdowns      Available

Excess MDIQ              NOT Available +
ISS Injections           NOT Available
SIT Injections           NOT Available
Imbalance Paybacks       NOT Available

PAL Lends/Unparks        Available
PAL Parks/Loan Paybacks  NOT Available

+ Call Gas Control 24 hours in advance at (304) 357-2606 to request approval.

Non-firm receipt capacity will be as follows:

TENNESSEE:

Brinker (B12)            20,000
Broad Run (B9)          450,000
Cambridge (B10)               0
Dungannon (B11)          20,000
Highland (B17)                0
Milford (B18)            20,000
North Greenwood (B22)         0
Unionville (B15)         50,000

TEXAS EASTERN:

Delmont (C16)            10,000
Eagle (C22)              20,000
Hooker (C9)              20,000
Pennsburg (C23)          20,000
Windridge (C12)          20,000

NATIONAL FUEL:

Independence (M1)             0
Ellwood City (L1)        15,000

TRANSCO:

Downingtown (E3)          2,500
Emporia I (E13)          60,000
Rockville (E2)           60,000
Dranesville (E1)         50,000

EQUITABLE GAS:

Hi Hat (F3)                   0

KENTUCKY WEST VIRGINIA (KYWV):

Beaver Creek (H1)             0

CNR PIPELINE:

Boldman (CNR02)               0
Conoway (CNR03)               0
Johns Creek (CNR08)           0
Canada (CNR09)                0
Canada (CNR10)                0
Stafford (CNR11)              0
Thacker/Majestic (CNR12)      0
Briar Mtn. (CNR13)            0
Huff Creek (CNR14)            0
Wiser (827280)                0

CONOCO:                       0

Delta Natural Gas (819288)    0
Grant (P1)                    0

NOTE:  ANY APPALACHIAN PRODUCTION FLOWING DIRECTLY INTO COLUMBIA'S LINE KA
BETWEEN COLUMBIA'S BOLDMAN COMPRESSOR STATION AND COLUMBIA'S HUFF CREEK
COMPRESSOR STATION AS WELL AS PRODUCTION FLOWING INTO COLUMBIA'S LINES SM-116,
KA-15, PM-3, AND PM-17 IS 0 NON-FIRM.

ALGONQUIN:

Ramapo (R1)              25,000

ANR:

Paulding/Cecil           30,000
(F1, A2)

LEBANON AGGREGATE       100,000
(A4, F2, C4, D3)

TOLEDO AGGREGATE        100,000
(A3, F4, 734462)

COLUMBIA GULF:
(801)

TCO-Leach               700,000

Internal point non-firm capacity will be as follows:

Lanham                        0

Delivery capacity (non-firm) will be as follows:

TRANSCO:

Martins Creek            10,000
  (MLI E5)
Young Woman's Creek      10,000
  (MLI E9)

ALGONQUIN:

Hanover                       0
  (MLI R2)

EQUITRANS:

Fallen Timber            31,000
  (MLI K1)

Waynesburg-Rhinehart     20,000
  (MLI K2)

OPT-30 will be available in all market areas.
OPT-60 will be available in all market areas.

Market Area delivery capacity (non-firm) will be as follows:

Operating Area 1
     Market Area 33      30,000
     Market Area 34      20,000

Operating Area 2
     Market Area 20       No Restrictions

Operating Area 3
     Market Area 15       No Restrictions
     Market Area 16       No Restrictions
     Market Area 17       No Restrictions
     Market Area 18       No Restrictions
     Market Area 19       No Restrictions

Operating Area 4
     Market Area 21      10,000
     Market Area 22      10,000
     Market Area 23      20,000
     Market Area 24      10,000
     Market Area 25       No Restrictions
     Market Area 29       No Restrictions

Operating Area 5
     Market Area 02       No Restrictions
     Market Area 07       No Restrictions

Operating Area 6
     Market Area 10       No Restrictions
     Market Area 11       No Restrictions
     Market Area 12       No Restrictions
     Market Area 13       No Restrictions
     Market Area 14       No Restrictions

Operating Area 7
     Market Area 01       No Restrictions
     Market Area 03       No Restrictions
     Market Area 04       No Restrictions
     Market Area 05       No Restrictions
     Market Area 06       No Restrictions
     Market Area 08       No Restrictions
     Market Area 09       No Restrictions

Operating Area 8
     Market Area 26       No Restrictions
     Market Area 27       No Restrictions
     Market Area 32       No Restrictions
     Market Area 35       No Restrictions
     Market Area 36       No restrictions for southern part of Market Area 36.
                          Primary receipts/deliveries only for gas delivered
                          in the northern portion of Market Area 36.
     Market Area 38       No Restrictions
     Market Area 39       No Restrictions
     Market Area 40       No Restrictions

NOTE:  GAS DELIVERED IN THE NORTHERN PORTION OF MARKET AREA 38 OR THE NORTHERN
PORTION OF MARKET AREA 36 MUST BE RECEIVED FROM TENNESSEE GAS PIPELINE AT
HIGHLAND.

Operating Area 10
     Market Area 28       No Restrictions
     Market Area 30       No Restrictions
     Market Area 31       No Restrictions

If you have any questions, please contact your Account
Representative.


To the best of my knowledge there is no CAISO requirement that a Scheduling Coordinator be a participant in the PX.

 -----Original Message-----
From: 	Ibrahim, Amr
Sent:	Tuesday, November 27, 2001 12:10 PM
To:	Alvarez, Ray; Hall, Steve C. (Legal)
Cc:	Steffes, James D.; Nicolay, Christi L.; Sager, Elizabeth; Gottfredson, Bryan
Subject:	RE: CalPX Collateral Issue

This is a quick note to let the team know that I do have the credit worthiness requirements for PX (FERC Electric Service Tariff, Art. 2.4); a summary could be prepared if needed.   I trust that the Team would benefit from a legal opinion on Art. 2.4.5, and the associated schedule 2 of the tariff  related to "Changes in the Amount of Security Provided by a PX Participant"  which allows a refund of securities above the PX security Amount.  As Steve mentioned nicely below, if the security amount is zero, then perhaps there is an argument for a full refund.

On the same theme, I am investigating  the requirements for maintaining ESP (electricity service provider) in California.  One of the conditions is that the ESP is eligible as a participant in the CA ISO.  If the CA ISO also necessitates participant status in the PX for  some transactions, then there is a circular flow in the argument, and may be there is a need to maintain a form of relationship with the PX.

I shall keep you posted with progress.

Brgrds

AI

 -----Original Message-----
From: 	Alvarez, Ray
Sent:	Tuesday, November 27, 2001 1:45 PM
To:	Hall, Steve C. (Legal)
Cc:	Steffes, James D.; Nicolay, Christi L.; Sager, Elizabeth; Ibrahim, Amr
Subject:	CalPX Collateral Issue

Thanks Steve.  With your input, my take on Elizabeth's questions are:

1.	Must we renew the collateral?-  From a legal standpoint the answer is "No" for the reasons discussed below.  However, as we know, the PX will take a contrary position and has (along with other California parties) taken the position at FERC that the collateral should be withheld pending resolution of the CA refund case at FERC (to secure payment of refunds due).

2.	May we replace the letters of credit with cash / other collateral?-  The answer is "Yes" as you note below, with the caveat that the replacement collateral must be acceptable to the PX.  Obviously cash should be acceptable.  Perhaps a bond or negotiable instrument could be an option.

3.	What is the potential outcome if we do nothing (i.e. we don't re-up the letters of credit).  Our past experience in this regard has been that the PX will draw on the letter of credit prior to its expiration.

As for additional options, we could consider:

1. 	Further to Steve's option 1, we might try to enforce the return of the excess in court by submitting a Section 2.5 request to the PX and bringing the issue to a head.  Steve's original option is preferable, however, since it is through agreement with the PX.  Perhaps a compromise could be proposed for the PX to return our collateral over and above our highest potential refund liability to the PX in the CA refund case.

2.	Seeking injunctive relief in court to prevent the PX from drawing on the letter of credit.

Elizabeth, please advise if this answers your questions fully.

Thanks,  Ray

 -----Original Message-----
From: 	Hall, Steve C. (Legal)
Sent:	Tuesday, November 27, 2001 1:54 PM
To:	Alvarez, Ray
Subject:	RE:

I agree.

Schedule 2, section 2 says:  "Each PX Participant shall post collateral for 100 % of its requirements in excess of the unsecured line of credit in order to participate in the CTS and Core Markets"  [I would note that (1) our "requirements" are currently zero, and (2) we do not wish, nor is it possible to "participate" in the CTS and Core Markets.  Therefore, the PX has no basis under its Tariff to continue to hold our collateral.]

As you indicated below, Schedule 2, section 2.2 says:  "Each PX Participant shall maintain sufficient collateral to cover its aggregate outstanding liabilities in the Day-Ahead and Day-Of markets to and from the PX between cash clearing cycles or during the period in which the liabilities are incurred and when payment is billed and settled."

Options:

1.  If the PX will allow us to have access to our excess cash pursuant to Section 2.5 (requests submitted by COB Wednesday will be processed by Friday), then let them cash in the LC.

2.  Ask the PX if we can substitute "other liquid collateral acceptable to the PX. .  .in lieu of cash" (Schedule 2, section 2.1.3).  We should ask them what else would be acceptable (a lien on Jeff Skilling's house?).

 -----Original Message-----
From: 	Alvarez, Ray
Sent:	Tuesday, November 27, 2001 10:18 AM
To:	Hall, Steve C. (Legal)
Cc:	Steffes, James D.; Nicolay, Christi L.; Sager, Elizabeth
Subject:	RE:

Steve, I believe that schedule 2, section 2.2 of the CalPX tariff is the provision that requires market participants to maintain collateral, the purpose of which, however, is to provide security for liabilities incurred in the PX markets.  Since these markets are no longer in operation, there is no lawful reason to withhold the collateral, notwithstanding the assertions of CA parties that it should be used to guarantee payment of refunds ordered in the CA refund proceeding at FERC.  Ray

 -----Original Message-----
From: 	Alvarez, Ray
Sent:	Tuesday, November 27, 2001 12:26 PM
To:	Sager, Elizabeth
Cc:	Steffes, James D.; Nicolay, Christi L.; Hall, Steve C. (Legal)
Subject:

Elizabeth, per our conversation, I am obtaining and attaching various pleadings before FERC I've worked on seeking return of the collateral and the reasons why it should not be withheld by the PX.  It's my understanding that these might help- please let me know.  There are other related filings and I will forward them as soon as I locate.  In the meantime, I am working with Steve Hall to get an independent interpretation of the PX tariff so as to yield answers to our questions and our options.  Thanks,  Ray

 << File: #150515 v1 - CPS COMMENTS ON BIRCHMAN ORDER.doc >>  << File: Answer (chargeback) EL01-36.doc >>


Russell:
Here is what their letter should say to us:

Reference is made to the Guaranty Agreement dated as of September 1, 1998
from American Central Gas Companies, Inc. ("Guarantor") for the benefit of
Enron North America Corp. ("Enron").  By letter addressed to you dated April
6, 2000 (the "Termination Letter"), Guarantor terminated its obligations
under the Guaranty.  The purpose of this letter is to notify Enron that such
Termination Letter is null and void such that no termination of the Guaranty
by Guarantor has occurred.  In addition, Guarantor hereby agrees to amend the
Guaranty by (1) changing the amount set forth in Section 1(b) from $1,000,000
to $2,000,000 and (2) by changing the text of the fourth paragraph in Section
6 to read as follows:  "This Guaranty shall terminate on the date (such date
being the "Termination Date") that is the earlier of (a) July __, 2000 or (b)
the effective date of any written notice of termination sent by Guarantor as
set forth below.   Guarantor may terminate this Guaranty by providing written
notice of such termination to ECT and upon the effectiveness of such
termination, Guarantor shall have no further liability hereunder, except as
provided in the last sentence of this paragraph.  No such termination by
Guarantor shall be effective until five (5) days after receipt by ECT of such
termination notice.  No termination of this Guaranty pursuant to the
provisions of this paragraph shall affect Guarantor's liability with respect
to any Transaction (as defined in the Contracts) entered into prior to the
Termination Date, which Transaction shall remain guaranteed pursuant to the
terms of this Guaranty."

Please acknowledge your acceptance of the terms of this letter, by signing in
the space provided below.


EFF_DT PORTFOLIO_ID DOWN95
2/20/01  MANAGEMENT-COAL 0
2/20/01  MANAGEMENT-CRD 0
2/20/01  MANAGEMENT-GAS 302,214.
2/20/01  MANAGEMENT-PWR 179,444.
2/20/01  AGG-MANAGEMENT 416,059.


Outlined below are some details of the existing curve validation process and
its application to the proposed validation of tariff curves.

Wholesale Curve Validation

The existing process incorporates validation of all wholesale curves and
includes monthly validations and random curve reviews. Every month, results
of the validation are summarized in a memo and distributed to the Senior
Management. Results of the random curve reviews are brought up to the
attention of Desk Heads responsible for the respective curves and Senior
Management as necessary.

Curve Assessment
 Green:
  - curve is reasonable
  - small P&L impact from curve shift
 Yellow:
  - curve is illiquid
  - medium-to-large position and P&L impact from curve shift
  - some ability to validate prices from external sources
 Red:
   - curve mark is inaccurate (based on external data obtained)
  -  curve is illiquid: no ability to validate externally
  - significant positions and P&L impact from curve shift

Curves that are inaccurately marked based on data obtained from external
sources are urged by the Senior Management to be corrected. In the cases
where external data is not available or clear, the Senior Management urges
the respective Desk Head not to increase an already large illiquid position
or to built in a risk premium by widening the respective bid/offer spread and
not to take on positions inside of that spread.

Selection Criteria
The criteria for monthly curve selection are the following:
 P&L sensitivity
 Largest positions
 Staleness (curves have not been marked for a period of time)
 Completeness (curves that have not been validated in a long time)

The main criteria for random curve validation is new deals.

Curve Validation Tools
Broker Quotes/Other external data
Graph Analysis (curve slope vs. a peer group, curve humps/sculpting vs. a
peer group, curve shift vs. position shift, etc.)
New Deal Analysis (comparison of curve marks and executed/quoted prices)
Boundary Analysis/V@R Simulations (comparison of curve to simulated curve
boundaries using Enron's V@R Engine)
SAVA Model Comparison (comparison of curves to model generated results)

Tariff Curve Validation

Scope/Timing:
ASAP - 20 curves with the largest positions related to deals pending review:
(Frito-Lay, Quaker Oats, Starwood) - to ensure timely and smooth approval of
these deals.
Next 30-days - 20 curves with the largest positions/P&L impact
Monthly/Quarterly - 20 curves selected based on criteria described above
Randomly - curves with significant positions/P&L impact, resulting from new
deals

Data Gathering:

This Month:  Listing of 20 curves (related to deals in progress) and the
related support requested by EGA (to be provided by Scott Stoness)
On-going Basis:  The process of obtaining data should be streamlined and the
curve validation process should be relatively painless:
    - RAC should have access to the curve data (Minal Dalia is fully devoted
to EES and is currently residing on the EES floor)
    - Curve assumptions should be documented (to be provided by Scott Stoness)

Execution/Reporting:

RAC, EGA and EES Risk Management Group work together on curve validation
utilizing available tools and work on developing new tools
Utilize the Wholesale Curve Assessment methodology (Green, Yellow, Red)
Generate a curve validation report (see template attached)
Provide feedback to the Desk Heads and distribute the Curve Validation Report
to Enron and EES Senior Management

Other Curves

Other curves related to EES business should be gradually incorporated into
the aforesaid process (ancillary services, congestion, DSM and labor related
curves) - let us set a timetable.

In conclusion, curve validation results should be evaluated in conjunction
with other risk analytics: stress testing of prices, volatilities and
correlations, Value-at-Risk/Capital-at-Risk analysis, performance measures,
capital allocation framework, etc.

Vlady.


John and Louise,

I wanted to let you know how much I enjoyed the Beaver Creek offsite and to thank you for the invitation.   I think everyone was impressed with how well this trip was organized - it was first class all the way.  The recreational and social activities were fun, the meetings were informative, and the relationships that were formed and strengthened with other business unit leaders should prove invaluable.

Thanks again!

Craig Breslau


Well, the staff level is prettly low here, for just about every group related
to HPL.  Stacey did leave, so I am back to trading Waha.  However, it's going
a lot better this time.  I am actualy enjoying it somewhat.  With the
majority of the desk leaving, I am looking into moving into the day trading
arena for the new Texas Desk.  We'll see how that goes.  Bidweek was kinda
rough this time.  In addition to Stacey leaving during the middle of the
week, we have some major outages on the A/S line where we have to stay
balanced on Texoma and balanced on the south end.  The line has been split
into two seperate systems.  Handling that has been a constant battle.  Plus,
with the pending sale, people just don't care as much about the business.
It's a little harder to get things done.

Anyway, things are going pretty good at the house.  But, the list of things
to fix and do keeps getting longer and longer.  We are extremely busy.  The
kids are loving the stairs.  You ought to see Jake go down.  We taught him to
turn around backwards and crawl down the stairs on his belly.  Well, that was
too slow for him.  Now, he get's on his belly, feet up in the air, and slides
down, barely skiming the stairs.  He looks a penguin sliding down a snow
bank, except on his stomach.  Cole is doing his best to either run Jake off
or make him tough.  Cole runs over Jake with his toys, pushes Jake out the
way, or just walks right over him.  It doesn't affect Jake, though, he gets
right back up and keeps on going.

Anyway, I need to get back to work.  Hope the family is doing well.  Maybe
you can come down for lunch next week.  I'll give you a call in the next
couple of days.

D

"buylow" <buylow@houston.rr.com> on 03/31/2001 02:24:42 AM
To: "Daren Farmer" <daren.j.farmer@enron.com>
cc:
Subject: Me Again

Did you survive bid week?
?
I hear you lost another employee (Stacey). If you need someone  to work for
you I suppose I'm free (in a freedom sense, not $). Do you have any  staff
left?
?
Just giving you a hard time. (like you need one)
?
Gotta run. Almost have my *&%$#!!@# taxes done. If people  had to write a ?personal check every quarter for their taxes there would be some  big ?changes. It sucks.???Later,?Ken??????


Attached is the current list of rotations for the Trading Track participants and future assigned rotations (as decided at the time of hiring).    Can you please re-confirm you have these people in your group currently, as I appear to have conflicting information.  I will re-send, if any changes occur.

If there is any movement of these people between groups can you plese keep me in the loop.

Kind regards,

Karen.
x54667