On May 14th, HE 19, interval 6, Sierra Power was assessed a charge of $481.67 for a shortage of just under 1 megawatt.  The INC and DEC rate for this hour was $0.00.

-Kit

 -----Original Message-----
From: 	Comnes, Alan
Sent:	Tuesday, August 28, 2001 12:31 PM
To:	Dasovich, Jeff; Hall, Steve C. (Legal); Alvarez, Ray; Mara, Susan; Perrino, Dave; Steffes, James D.; Blair, Kit; Belden, Tim; Novosel, Sarah
Subject:	RE: As the CAISO Turns:  CAISO involved in scam with CDWR to purchase excess power from CDWR's long-term contracts

IEP is also pulling together a formal or informal complaint and we should forward any material we pull together to them as well.

Kit, What is the market month in which Sierra Pacific was charged $400/MWh.

All:  Even if CAISO was not using OOM to stuff DWR costs, the fact that CAISO does not post OOM costs is a continuing problem.

GAC

 -----Original Message-----
From: 	Dasovich, Jeff
Sent:	Friday, August 24, 2001 12:01 PM
To:	Hall, Steve C. (Legal); Alvarez, Ray; Frank, Robert; Mara, Susan; Nicolay, Christi L.; Novosel, Sarah; Perrino, Dave; Steffes, James D.; Walton, Steve; Palmer, Mark A. (PR); Comnes, Alan; Badeer, Robert; Williams III, Bill; Mallory, Chris; Denne, Karen; Belden, Tim; Yoder, Christian; Sanders, Richard B.
Subject:	RE: As the CAISO Turns:  CAISO involved in scam with CDWR to purchase excess power from CDWR's long-term contracts

Since Congressman's Ose's been asking FERC alot of questons about what the ISO, DWR, etc. have been up to, perhaps he could write a "Dear FERC" letter saying "here's what I'm hearing, it sounds serious and you need to investigate, pronto, and get back to me ASAP with your conclusions."

Best,
Jeff

 -----Original Message-----
From: 	Hall, Steve C.
Sent:	Friday, August 24, 2001 1:52 PM
To:	Alvarez, Ray; Dasovich, Jeff; Frank, Robert; Mara, Susan; Nicolay, Christi L.; Novosel, Sarah; Perrino, Dave; Steffes, James D.; Walton, Steve; Palmer, Mark A. (PR); Comnes, Alan; Badeer, Robert; Williams III, Bill; Mallory, Chris; Denne, Karen; Belden, Tim; Yoder, Christian; Sanders, Richard B.
Subject:	As the CAISO Turns:  CAISO involved in scam with CDWR to purchase excess power from CDWR's long-term contracts

Everyone,

This is hot news showing that the CAISO/CDWR relationship is even more cozy than we thought.  I am not sure how to best use this information, but this scam needs to be brought to the public's and FERC's attention.

1.  According to two sources, the CAISO is helping to bail Gov. Davis out of his high-priced CDWR long-term power contracts by purchasing CDWR's excess energy as an "Out Of Market" purchase---instead of purchasing real-time energy from the CAISO's Supplemental Energy auction as required by the CAISO Tariff.  The costs of purchasing this high-cost power is being charged to Scheduling Coordinators who are largely unaware of the CAISO's surreptitious transactions.

2.  This sweetheart deal violates the CAISO Tariff, which requires the CAISO to buy energy from its Supplemental Energy (Real-Time) auction first.  CAISO Tariff, Dispatch Protocol section 8.6.2 (d).  Only after the CAISO has used up the Supplemental Energy  bids, can the CAISO buy Out Of Market ("OOM") energy.  If the CAISO were following the Tariff, CDWR's excess energy would be treated as an uninstructed deviation and CDWR would be paid the clearing price for Supplemental Energy---which is often as low as $0.00.  Therefore, under the Tariff the CAISO could have paid CDWR the same price paid to other SCs, but instead is buying it at a price agreeable to CDWR.

3.  By ignoring Supplemental Energy bids in favor of CDWR power, the CAISO is able to manipulate the price it pays for energy in the Supplemental Energy market.  Low CAISO demand for Supplemental Energy drives down prices.  The clearing price for Supplemental Energy has often been as low as $0.00.  Therefore, the CAISO gets to keep all excess energy on the grid for free.  If CDWR was not getting preferential treatment, its energy would be treated as excess energy, and it would get little or nothing for it.

4.  While there is no evidence that Gov. Davis has directed the CAISO to buy from CDWR first, this behavior clearly benefits Davis.  Absent the CAISO's purchases of CDWR's excess energy, CDWR would be forced to sell its energy at a huge loss in the open market (just like many other suppliers).  The media has been been making hay out of Davis's strategy of buying high and selling low.  Therefore, Davis and CDWR benefit by being able to offset some of their losses under the long-term contracts.  Of course, they are only able to offset their losses through a back-door deal with the CAISO.

5.  The costs of this expensive CDWR power are being passed through to unwitting Scheduling Coordinators who, frequently seeing 10-minute Ex Post prices of $0.00, expect that the cost of imbalance energy will be close to $0.00.  These SCs are in for a big surprise.  According to one source at Sierra Pacific, the CAISO charged him as much as $400/MWh for imbalance energy.  (Where is the price mitigation here?)

6.  Who benefits under this scam?  Davis and CDWR.  Who loses under this scam?  In-state generators who are currently obligated to sell to the CAISO; Scheduling Coordinators who overgenerate or that have negative imbalances; consumers who end up paying higher prices for energy.

7.  Sources:  Our client representative from the CAISO has confirmed this practice and "the Friday Burrito," an industry insider publication mentioned it also.

8.  Here is the quote from the Friday Burrito:

"There is another problem that is being introduced by the long-term contracts. The ISO is utilizing the DWR contracts as Out of Market (OOM) calls, thereby forcing the contract energy into the grid ahead of the supplemental energy bids in the balancing energy ex post (BEEP) market. As one of our faithful observers told me, "The ISO will be billing some DRW/CERS long-term contracts to SCs as OOM energy. This has been confirmed by the ISO. This means there is no real-time price transparency. We may see an hourly ex-post price of, say, $15, but this will bear no resemblance to the eventual Real-Time settlement price. There is no way to estimate what the OOM charge was as the ISO doesn't post that information. The implication is that parties buying real-time energy will wait 90 days before theyhave any idea of the price. This sort of price uncertainty is completely contrary to the FERC's goals of creating open, transparent markets."
9.  Here is the e-mail from our CAISO representative:

-----Original Message-----
From: Almeida, Keoni [mailto:KAlmeida@caiso.com]
Sent: Thursday, August 23, 2001 4:04 PM
To: Emmert, Caroline; O'Neil, Murray P.; Gilbert, Scotty
Cc: Sheidun, Donna; Blair, Kit
Subject: RE: "Burrito"

Issue highlighted in blue lettering. This is being researched internally and
an ISO response on how these transactions are being handled should be
forthcoming, I would think.

Keoni Almeida
California Independent System Operator
phone: 916/608-7053
pager:  916/814-7352
alpha page:  9169812000.1151268@pagenet.net
e-mail:  <mailto:kalmeida@caiso.com>

-----Original Message-----
From: Emmert, Caroline [mailto:Caroline.Emmert@ENRON.com]
Sent: Thursday, August 23, 2001 3:15 PM
To: Keoni Almeida (E-mail)
Cc: Sheidun, Donna; Blair, Kit
Subject: "Burrito"

Can you send me a copy of the 'Burrito' that we were discussing, or at
least outline in an e-mail the name of the person who has written about
CERS and what was published?   What is the official name of this
newsletter?  I have seen them in the past (Harvey Hall used to get it
and sent a couple to me), but I haven't seen it for a long time.

Also, to recap our telephone discussion:  the charges assessed to the
Market in Charge Type 487 are determined by CERS, and are being
collected by the ISO on behalf of CERS, to cover the cost of contracts
that CERS has signed for energy purchases? and 487 pricing/charges have
do direct relationship to the Inc and Dec prices charged or paid to
those who inadvertently over- or under-schedule?  Please clarify that I
have understood this correctly.

Thanks a lot for your assistance.

Caroline

**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
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Thank you.
**********************************************************************

10.  Here is an e-mail from the intrepid and vigilant Kit Blair, in Volume Management, who first brought this scam to my attention.
 -----Original Message-----
From: 	Blair, Kit
Sent:	Thursday, August 23, 2001 3:42 PM
To:	Hall, Steve C. (Legal)
Cc:	DL-Portland Volume Mgmt
Subject:	487 Revelation

Steve,
	Here is a summary of what we have learned regarding how the CAISO is handling 487.  Kent at Sierra Power inquired to me why he was being charged 487, (487 is the charge code the CAISO uses when it has to go out of market, and purchase power that exceeds $150.00/mwh, 481 is the charge code they use to credit it back), for the same hours and intervals that both the INC and DEC prices were zero.  This was obviously very peculiar and nobody in VM knew the answer. So Caroline posed the question to Keoni at the CAISO.  His response was this:  that the CAISO is charging 487 regardless of the INC and DEC prices, to cover the forward market contracts signed by CDWR and CERS.  In effect, they are ignoring their tariff that states they are supposed to purchase power at the lowest price, and are in effect trying to recover costs for CDWR and CERS.

-Kit


Rebecca McDonald's APEC speech was a great success, with wide interest from
the audience.  Among others, DOE and EIA officials, the Korean Minister of
MOCIE, the Japanese Vice Minister of MITI and the Colombian Minister of Mines
and Energy all made special requests for copies of her presentation.  We are
making arrangements to distribute it to the broader audience today.  The
government and regulatory team here is already leveraging the enthusiasm for
the speech in their contacts.  Attached is the final copy of the
presentation, which reflects last minute changes.

John


<<POMPANORESONSE TO BROWARD COUNTY'S MOTION TO INTERVENE_v1.DOC>>
Dear Enron Pompano DOAH Team:

Attached is our response to Broward's motion to intervene in the Pompano
DOAH proceeding.  The requirements for an intervention motion are the same,
by rule, as are those for petitions, so you will recognize the arguments
from our motions to dismiss.  Please pass along any comments before Monday
evening, if possible.

Thanks very much,

Paul C. Savage
Greenberg Traurig, P.A.
ph. (305) 579-0720
fax (305) 961-5720
savagep@gtlaw.com

_______________________________________________________________
The information contained in this transmission may contain
privileged and confidential information.  It is intended only
for the use of the person(s) named above. If you are not the
intended recipient,  you are hereby notified that any review,
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communication is strictly prohibited. If you are not the
intended recipient, please contact the sender by reply email
and destroy all copies of the original message.

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email to postmaster@gtlaw.com.


Yes, I'll be in Houston this week.  We could discuss there. But might be
useful to discuss tomorrow when you return.  I'm available.  Seems useful to
try to get a start on it tomorrow.  You available for a quick call?  My
schedule's pretty flexible.

Best,
Jeff


Has anyone talked with Tim B about what Larcamp said -- ie the soft cap only
applies to PX and ISO bids and not to any bilateral contracts including
bilateral fwd contracts?
----- Forwarded by Steven J Kean/NA/Enron on 11/16/2000 06:12 AM -----

	Donna Fulton
	11/14/2000 09:33 AM

		 To: Steven J Kean/NA/Enron@Enron
		 cc: Jeff Dasovich/NA/Enron@ENRON, Joe Hartsoe/Corp/Enron@ENRON, Mary
Hain/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT, Richard Shapiro/NA/Enron@ENRON,
Sarah Novosel/Corp/Enron@ENRON, Susan J Mara/SFO/EES@EES
		 Subject: Re: Comments on FERC November 1 order

Just to pile on with the issues, I will add a few thoughts of my own for
issues that we might want to consider in our November 20 comments.
Re: the application of the price cap to only PX and ISO, Commissioner Massey
is not totally on board.  He specifically asked about capping the forward
market.  He raised the idea that he had gotten from the San Diego hearing
that there be an accepted forward contract for a specified timeframe (18-24
months) and specified rate, and that all loads must buy a minimum percentage
of their needs from this contract.
A staffer (Don Gelinas) asked whether the forward/bilateral market
(presumably uncapped) could take care of investment recovery so that
generation not be cancelled in California.
Dynegy and other marketers raised the issue of the test to be used by the
Commission in reviewing transactions above the soft cap.  Specifically, what
is opportunity cost?  As long as the test is not known until after the fact,
there will be lack of secuity selling into the California and greater
incentive to sell elsewhere.
Hobbs from Williams raised the possibility that if the Commission does not
eliminate the soft cap (his preferred approach), that the cap should be
temporary and escalating and there should be limited time for raising issues
and retaining the refund liability (he suggested that the refund liability be
only for one month).
Many, especially the utilities, raised their position that the Commission
should not institute penalties only on the load.  They claimed this was
one-sided and suggested if penalties were required, they needed to be applied
to the supply side as well.  They also argued that the load could not meet
the 5% test.
Massey had a concern at the end of the day that the Commission's
encouragement of forward contracts will be stymied by the CPUC by their
authority in reviewing prudence of the utilities' purchases.
Larcamp asked at the end of the day for information on the cost of generation
before deregulation - normalized for gas prices and emmission prices of
today.  The marketer on the panel added that we would need to include
stranded costs.
There was almost no support for the single price auction in California.
The California politicians argued that the ISO Board structure needed to be
changed, but that California had jurisdiction to change it, not FERC.  A
Court battle was threatened.

	Steven J Kean
	11/13/2000 08:51 AM

		 To: Mary Hain/HOU/ECT@ECT
		 cc: Richard Shapiro/NA/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Susan J
Mara/SFO/EES@EES, Joe Hartsoe/Corp/Enron@ENRON, Sarah
Novosel/Corp/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON, Paul
Kaufman/PDX/ECT@ECT
		 Subject: Re: Comments on FERC November 1 order

There are a few other issues we need to look into:

Larcamp told Hartsoe and I after the meeting that FERC may clarify that the
price caps and reporting obligations apply only to bids into the PX and ISO
-- ie no bilateral transaction will be subject to the requirements.  He asked
if knowing this would change any of our views (esp peaking plants, though I
suspect it's already too late for that).  My gut reaction is that so long as
the market continues to clear through the centralized exchanges this
"exemption" for bilateral transactions won't matter much, but let's think it
through.  Is EOL or APX an alternative?
Massey specifically asked us to address forward markets in our comments.
Specifically, "has FERC done everything it can to encourage forward market
development?"  In addition to any other points we might make, I think we
should argue that "PJMing" the market won't facilitate and may even hinder
forward market development.  Also, we should advocate actions by FERC that
take away second-guessing by the CPUC in order to reduce utility fears about
contracting forward.
We have to give the Commission a way out on price caps.  We need to think
through whether there is something we can live with here, or we should take
the approach I took in my testimony:  FERC should encourage the state to
provide rate protection for selected customer classes by putting those
requirements up for bid (ie get the utility out of the commodity business as
much as possible).
Finally, on governence issues we should argue for a narrowe role for the ISO
as a way of diffusing the emotional governence debate.  Analogy:  if the ISO
is simply the air traffic controller all parties will simply be interested in
retaining the most technically competent people (not hiring or appointing
their lackies or friends).  So long as the ISO has a role in setting prices,
acquiring supplies or running the market, it is destined to be controversial
and highly politicized.  Those functions should be left to the market.

	Mary Hain@ECT
	11/10/2000 11:13 AM

		 To: Steven J Kean/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron
		 cc:
		 Subject: Comments on FERC November 1 order

---------------------- Forwarded by Mary Hain/HOU/ECT on 11/10/2000 09:20 AM
---------------------------
________________________

To: Christian Yoder/HOU/ECT@ECT, steve.c.hall@enron.com, Richard Sanders,
Susan J Mara/SFO/EES@EES, Mona L Petrochko/NA/Enron@Enron,
jdasovic@ees.enron.com, Paul Kaufman/PDX/ECT@ECT, James D
Steffes/NA/Enron@Enron, Joe Hartsoe@Enron, Sarah Novosel/Corp/Enron@ENRON,
James E Keller/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Harry
Kingerski/HOU/EES@EES, Dennis Benevides, Tim Belden/HOU/ECT@ECT, Robert
Badeer/HOU/ECT@ECT, Jeff Richter/HOU/ECT@ECT, Alan Comnes/PDX/ECT@ECT, Steve
Kean, Richard Shapiro, Tim Heizenrader/PDX/ECT@ECT
cc: carrrn@bracepatt.com, dwatkiss@bracepatt.com
From: Mary Hain/HOU/ECT
Date: 11/09/2000 05:19:03 PM
Subject: Comments on FERC November 1 order

For purposes of our discussions, Alan and I have put together an outline of
issues raised in the FERC meeting today that we might consider putting in our
comments to FERC.  Our written comments would also include the issues we have
already raised in our white paper and our oral comments at FERC.  Of course
to the extent we have discussed things in our white paper we could simply
cite the paper.  Given the potentially long list of issues to be addressed, I
haved left a voice mail asking Seabron if he is available to help Alan.


Thanks so much for doing that, Melissa.

Kate

Melissa Ann Murphy
12/04/2000 12:31 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 473100

Hello, I entered the TransCanada deal.  It is deal # 473100.

Thanks,
Melissa
(713) 853-1886


Louise,

Here is the revised Marathon Proposal representing the six proposals discussed last week. I am going to get coffee, but I can be reached at my desk after that. Otherwise, see ya at 4:00.

Regards, Mrha


Vance,

Deal tickets have been created and entered in Sitara as follows:

Bob

Vance L Taylor
08/28/2000 04:33 PM
To: Robert Cotten/HOU/ECT@ECT
cc: Elizabeth L Hernandez/HOU/ECT@ECT, Lisa Hesse/HOU/ECT@ECT, Trisha
Hughes/HOU/ECT@ECT, Susan Smith/HOU/ECT@ECT, Donald P Reinhardt/HOU/ECT@ECT,
Melissa Graves/HOU/ECT@ECT
Subject: September Spot Purchases

Bob,

HPLC will be purchasing wellhead gas from the producers listed below for the
production month of September.  This production will be purchased on a "spot"
basis and deal tickets should be created and entered into sitara based on the
following information:

Counterparty    Meter  Volume Deal #  Price

Whiting Petroleum Corp   6523  200mmbtu/d 382601   91% IF/HSC
Engage Energy US, LP   5923  775mmbtu/d 382610   100% IF/HSC less $0.24
Engage Energy US, LP   5848  240mmbtu/d 382621  100% IF/HSC less $0.24
Swift Energy    2630  21mmbtu/d 382627   90% IF/HSC less $0.258
Duke Energy Trading & Marketing 6347  200mmbtu/d 382631  85% IF/HSC

Additionally, this are Producer Svcs. deals and should be tracked in the IM
Wellhead portfolio... attached to the gathering contract.

Thanks,

vlt
x3-6353


Frank:
Just following up on two topics.
One: Larry May's book continues to run at a VAR of 2,500,00 despite the fact
his P&L is never close to that.  Can you check that his exotics book
positions are being picked up in his VAR calcs.

Second:  Have you looked into applying a band-aid to the understating longer
term Vol problem until we change formulas?

John


-----Original Message-----
From: Krishnarao, Pinnamaneni
Sent: Tuesday, July 24, 2001 10:20 AM
To: Kaminski, Vince J
Subject: FW: An interesting story Abt. Stanford University ...

>>A lady in a faded gingham dress and her husband, dressed in a
>>homespun
>>threadbare suit, stepped off the train in Boston. They walked
>>timidly,
>>without an  appointment, into the  Harvard University President's
>>outer
>>office. The secretary could tell in a  moment that such  backwoods,
>>country
>>hicks had no business at Harvard and probably didn't even  deserve
>>to  be in
>>Cambridge. She frowned. "We want to see the President," the man
>>said
>>softly. "He'll be busy all day," the secretary snapped. "We'll
>>wait," the
>>lady  replied.  For hours, the secretary ignored them, hoping that
>>the
>>couple would finally become discouraged and go away. They didn't,
>>and the
>>secretary grew frustrated and finally decided to disturb the
>>President, even
>>though it was a chore she always regretted. "Maybe if
>>they just see you for a few minutes, they'll leave," she told him.
>>He
>>sighed in exasperation and nodded. Someone of his importance
>>obviously didn't have
>>the time to spend with them, but he detested gingham dresses &
>>homespun suits
>>cluttering up his outer office.
>>
>>The President, stern-faced with dignity, strutted toward the
>>couple.  The
>>lady told him, "We had a son who attended Harvard for one year.  He
>>loved
>>Harvard. He was happy here.But about a year ago, he was
>>accidentally killed.
>>And my husband and I would like to erect a memorial to him
>>somewhere on
>>campus."The President wasn't touched, he was shocked. "Madam," he
>>said
>>gruffly. "We  can't put up a  statue for every person who attended
>>Harvard
>>and died. If we did, this place  would look like a  cemetery."
>>"Oh, no,"
>>the lady explained quickly. "We don't want to erect a statue. We
>>thought we
>>would like  to give a building to Harvard."  The president rolled
>>his eyes.
>>He glanced  at  the gingham dress and  homespun suit, then
>>exclaimed, "A
>>building! Do you have any earthly idea how  much a building  costs?
>>We have
>>over seven & a half million dollars in the physical plant at
>>Harvard."  For
>>a moment, the lady was silent. The president was pleased. He could
>>get  rid
>>of them now.  And the lady turned to her husband and said quietly,
>>"Is that
>>all it costs  to  start a University? Why  don't we just start our
>>own?" Her
>>husband nodded. The President's face  wilted in   confusion and
>>bewilderment.  And Mr. and Mrs. Leland Stanford walked away,
>>traveling to
>>Palo Alto,  California   where they  established the university
>>that bears
>>their name, a memorial to a son that  Harvard no longer  cared
>>about.  And
>>that was the story about Stanford University.
>>
>>MORALE: Don't judge anyone by their looks or for how they
>>dress...respect
>>everyone and  you will never regret!
>>
>>
>>
>

  _____

Get your FREE download of MSN Explorer at http://explorer.msn.com <http://go.msn.com/bql/hmtag_itl_EN.asp>


Could e-mail me a copy of your latest model for Teco.  Thanks
Ben


Given the volatility in the gas market (which is the sole impact on the Canadian power book's US dollar exposure) and the exhorbitant cost involved in hedging multi-year cashflows (i.e. as evidenced by Friday 10/19/2001 trade of -$1,200,000 Cdn new deal value for the 14 year swap that I entered into), I will manage the currency exposure of this book myself, I will hedge appropriately when I see fit and will not accept hedges forced on Enron Canada because of arbitrary position limits set by your department.

John Zufferli


Let me know if this is not what you need.

Stacey


Most of you already know, but the move is taking place this Friday 11/16/01.  Please be sure you are packed by 3:00 PM on Friday and  have everything labeled.  They are moving both Power and Gas, so I am not sure what time the building will be open on Sunday or if it will be open at all.  I will get back to you with that information by Thursday.  If you have any questions or need help with anything, please let me know.

Thanks!
Ina


Correction!

13 through the 31st.

Thanks,

Dan

 -----Original Message-----
From: 	McLaughlin Jr., Errol
Sent:	Tuesday, December 11, 2001 3:08 PM
To:	Thibaut, Dan
Subject:	RE: vacation

Sounds good

 -----Original Message-----
From: 	Thibaut, Dan
Sent:	Tuesday, December 11, 2001 2:57 PM
To:	McLaughlin Jr., Errol
Subject:	vacation
Importance:	High

Errol,

I would like to take vacation starting on the 13th and ending on the 28th.

Please let me know if there is a conflict as soon as possible.

Thanks,

Dan


I'm moving my cash payment to Reliant to Friday.  Phil is going to give me new market values for Tallahassee and Midland tomorrow morning.

 -----Original Message-----
From: 	Hamic, Priscilla
Sent:	Tuesday, April 23, 2002 9:26 AM
To:	Germany, Chris
Subject:	RE: Gas flow and prepayment schedule through 4/23/02

Chris - if we are sending money on Thursday we need to get the wire request to Doug today.

 -----Original Message-----
From: 	Germany, Chris
Sent:	Tuesday, April 23, 2002 9:21 AM
To:	Germany, Chris; 'Jim Taylor (E-mail)'; 'mgarner@reliant.com'; 'sdeleon@reliant.com'
Cc:	'Pete Torres (E-mail)'; 'Shawn Kirkpatrick (E-mail)'; Hamic, Priscilla; Dhont, Margaret; Polsky, Phil; 'anny.page@reliant.com'; 'Tiffanie Wheeler (E-mail)'; Brady, Kevin; Kelly, Katherine L.
Subject:	Gas flow and prepayment schedule through 4/23/02

Melissa Garner verified receipt of the $17,000.00 wire last Friday.  Thanks Melissa.

Our current cash balance with Reliant is $57,180.00 after purchasing gas for tomorrow.

Thanks.

 << File: ENA-Reliant Prepay.xls >>


According to records from the Analysts Program, the following interns will be
working within Energy Operations during the summer.  The assignment stated
below is as reflected in the program's spreadsheet.

Name   School   Start Date Assignment

Luna Carlson  University of Florida  July 5  ENA - Risk Reporting and Analysis

Joshua Koenig  University of Florida  May 22  Energy Operations - Gas
Operations Management

Jolly Jose  University of Houston  June 5   Energy Operations - Gas
Operations Management

Michael Taylor  LSU    May 22  Central Desk Logistics

Daniel Graham  Morehouse   May 15  ENA - Financial Settlements

Angelique Woods University of Texas  May 22  ENA - Risk Management

First, please respond to me today and let me know to whom the analyst will be
reporting and what their responsibilities will be for the summer.  Hopefully
none of this is a surprise and the appropriate arrangements have been made
for desk, phone and computers for all.

Secondly, please make a point of seeking out these interns and welcoming them
to Enron.

Finally, after I know where these analysts are placed, we will have a brief
meeting with the analysts' managers and any of you under whom they will be
working to discuss ideas on making the analysts assignments meaningful this
summer.  I welcome ideas on this from any of you.


once again, we wait on the lawyers.

 -----Original Message-----
From: 	Meyer, Chris
Sent:	Friday, February 22, 2002 8:24 AM
To:	Parks, Joe
Subject:	Centana

Joe - let me know when you have confirmed the business terms with Duke and okay changes to Batch made by Stuart.  We missed this morning Cash Committee meeting, but I want to hit Monday's if possible.

cmm
x31666


Greetings:

Brad Carson and I had a productive telephone conversation with Caroline Emmert this morning. We agreed to proceed as follows to begin untangling the puzzle:

Bouse will forward the Excel file that recaps the payments and kWh's since the start of the Enron supply of electricity, November 2001. Note, that even though we have been far apart on a monthly basis, payments and invoices from November 2001 through February 2002 are very close together -- $2,500,850 compared to $2,500,912.  The Excel file with that information is attached.

Caroline has the ISO charges for November, December and January, and she will forward those to me via e-mail today.

Lisa Gang is now our Enron scheduler, and Caroline will check with Lisa to ascertain if she is using the daily input information from the Hanson Permanente cement plant. The cement plant has been forwarding information on the day ahead and week ahead usage on a routine during the whole period of Enron delivery. Caroline or Lisa will report to me if that information is being utilized.

The monthly billing from Houston (Gwen Williams) has not reflected actual usage at Hanson Permanente.  The invoice amounts from Enron reflect only the base numbers from CY 2000 that were imbedded in the contract for annual balancing.  Caroline will check to see what information Gwen is using for her monthly billing and to see if any of Lisa's or the cement plant's daily scheduling make their way to Gwen in Houston.

Hanson Permanente must know who is administrating this contract from the Enron side. By interpolation, we are assuming that the responsible party is Murray O'Neil who is Caroline's manager.  Do we have that right?  Lisa is our scheduler, Caroline is working with the ISO and PG&E true ups, Gwen is issuing Invoices based on Lisa's input and Murray is responsible for both Lisa and Caroline. Does that then mean that Murray is where the buck stops.

We may need to meet in the next 30 days to untangle this puzzle, and it would be beneficial for all parties to understand the organizational structure of each organization.

We look forward to working with you!

Sincerely.
         Earl Bouse
Hanson Permanente Cement
Hanson Aggregates Mid-Pacific
925.426.4084  Direct Dial                      925.426.4060  Fax
Earl.Bouse@HansonAmerica.com     earlbouse@aol.com


Daren,  Do you want to wait  on these, Let me know.
---------------------- Forwarded by Tom Acton/Corp/Enron on 04/03/2000 09:16
AM ---------------------------

Vance L Taylor@ECT
03/29/2000 04:44 PM
To: Tom Acton/Corp/Enron@ENRON, Daren J Farmer/HOU/ECT@ECT
cc: Melissa Graves/HOU/ECT@ECT

Subject: Walter O&G/Superior April Noms

Tom,

I recently received this nomination and the total package of gas for the
aforementioned changed as follows:

Counterparty    Meter  Last Nom  Latest Nom  Chg.
Walter O & G    9747  3,901mmbtu/d  3,426mmbtu/d  (475)mmbtu/d
Walter O & G    9787  1,604mmbtu/d  1,713mmbtu/d    109mmbtu/d
Walter O & G    9808  4,890mmbtu/d  4,950mmbtu/d      60mmbtu/d
Superior Natural Gas   9741  2,783mmbtu/d  2,570mmbtu/d  (213)mmbtu/d
          Total change  (519)mmbtu/d
I've made the change in my spreadsheet.

vlt
x3-6353


000
WTNT32 KNHC 251457
TCPAT2
BULLETIN
SUBTROPICAL STORM TWO ADVISORY NUMBER	4
NATIONAL WEATHER SERVICE MIAMI FL
11 AM AST SUN NOV 25 2001

AT 11 AM AST...1500Z...THE CENTER OF SUBTROPICAL STORM TWO WAS
LOCATED NEAR LATITUDE 31.8 NORTH...LONGITUDE  53.9 WEST OR ABOUT 640
 MILES ...1030 KM...EAST OF BERMUDA.

THE STORM IS MOVING TOWARD THE WEST NEAR  15 MPH...23 KM/HR...AND A
DECREASE IN FORWARD SPEED IS EXPECTED DURING THE NEXT DAY OR SO.

MAXIMUM SUSTAINED WINDS ARE ESTIMATED NEAR  65 MPH...100 KM/HR...
WITH HIGHER GUSTS.  SOME STRENGTHENING IS FORECAST DURING THE NEXT
24 HOURS.

WINDS OF 40 MPH EXTEND OUTWARD UP TO 635 MILES ...1120 KM MAINLY TO
THE NORTH OF THE CENTER.

THE ESTIMATED MINIMUM CENTRAL PRESSURE IS  989 MB...29.21 INCHES.

REPEATING THE 11 AM AST POSITION...31.8 N... 53.9 W.  MOVEMENT
TOWARD...WEST NEAR  15 MPH.  MAXIMUM SUSTAINED
WINDS... 65 MPH.  MINIMUM CENTRAL PRESSURE... 989 MB.

THE NEXT ADVISORY WILL BE ISSUED BY THE NATIONAL HURRICANE CENTER AT
5 PM AST.

FORECASTER LAWRENCE

Make GoPBI.com's Storm Warning Center your No. 1 resource for hurricane
and tropical storm updates: http://GoPBI.com/storm

To subscribe or unsubcribe from this list, visit our Web site:
http://GoPBI.com/storm/email

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Copyright 2001 Cox Interactive Media


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 09/15/2000
04:44 PM ---------------------------

"Andrew Kalotay" <andy@kalotay.com> on 09/11/2000 01:27:39 PM
Please respond to <andy@kalotay.com>
To: "Vincent Kaminski" <vkamins@enron.com>
cc:
Subject: More hedge effectiveness testing

Vince,
Have you seen the latest version of our article?  In a nutshell, it
establishes both what's right and what's wrong with r-squared/regression.
Essentially, r-squared is fine PROVIDED that the amount of the derivative
optimal, but otherwise it makes little sense.
Please let me know what you think about this.
Regards,
Andy
Andrew Kalotay Associates, Inc.
(212) 482-0900
andy@kalotay.com

Visit our web-site http://www.kalotay.com

 - FAS133 article.pdf


Cuiaba Pipeline - Joe Kolb reviewed the most recent Monthly Status Report and
is trying to confirm some information regarding potential construction during
the rainy season (November) due to the delays in the Ridges area.

Metgas Pipeline -  Joe Kolb completed review of final version of EMP and met
with Paul Perisho and how now issued EMP Approval memo.  Apparently there are
still a large number of hurdles to beginning construction in February '01.
They will not pursue hiring a project Env Mgr until they are more confident
of when the project will begin.

BMPs for Pipeline Construction - Bob Moss confirmed that Jerry Martin with
EE&CC has received the proposed pipeline BMPs for his personal or his staff's
review.  Joe has been unable to confirm EBS's interest/participation in
similar guidelines for fiber optic construction.

Capital Project EHS Flow Charts - Joe Kolb, Susan Worthen, and Bob Moss
discussed EE&CC's role in the environmental aspects of major capital project
development.  Joe will finalize the draft flow charts this week.

Recycling Committee - Joe Kolb obtained contacts with Houston Area Recycling
Council and David Ronkainen will be attending an upcoming meeting.  Wayne Lei
will provide us with info on PGE's recycling program.

ENEL, Nicaragua - Don Stevens and Mike Fuentes finalized the environmental
due diligence report for ENEL and distributed to the project team.  Estimated
environmental liabilities are $4.5 MM.

Quantitative Risk Module and Compliance Calendar - Don Stevens will meet with
Christine Dinh (Enron Net Works) on Friday to discus our IT project needs for
the risk module.  Gavin Dillingham will be on-hand to discuss the compliance
calendar.  Both projects have been on hold (for up to two months) due to the
lack of IT support.

Annual EHS Report - Susan Worthen continued to work through technical
difficulties this week that has impacted the anticipated debut of the
report.  She is currently drafting a project schedule for next year's report
to present internally and streamline the process to ensure a more timely
publication.

Safety Notices Issued - Russell Tucker issued a Safety Notice on the OSHA
final policy concerning treatment of voluntary employer safety self-audits
during inspections and the EPA final rule concerning access to off-site
consequence analysis information required by the RMP standard.

BCCA Economic Study - Marc Phillips received survey materials regarding the
Business Coalition for Clean Air (BCCA) economic study. He, with Cheryl
Dawson, are preparing information about the economic impact of the Houston
non-attainment regulations on the methanol plant.

TXOGA Pipeline Committee - Marc Phillips met with the Chair of the TXOGA
Pipeline Committee, Gwenyette Broussard with Equilon, and was informed that
Stan Horton had met with George Rootes, the CEO of Equilon, and discussed the
future of the TXOGA Pipeline Committee. They agreed to form a steering
committee to give direction to the pipeline committee activities.

Boiler and Heater MACT Regulations - Marc Phillips provided information to
chemical plant personnel regarding the boiler and heater Maximum Achievable
Control Technology (MACT) regulations that will be proposed this fall to
control formaldehyde emissions by 2005.

Texas "Grandfathered" Emission Sources - Marc Phillips met with John Shafer
(GPG), Bill Kendrick (GPG) and Tom Shelton (ENA) to discuss Enron's position
on the meetings the intrastate pipeline association is having with TNRCC on
grandfathered engines. Companies have the ability to obtain air permits for
grandfathered emission sources under a voluntary (VERP) program in Texas.
TXOGA is not involved in the meetings and does not support them. It was
agreed that more industry groups, including INGAA, should be involved in the
discussions.

Dabhol Power Plant Water Well Contamination - ThermoRetec continues to
conduct aquifer pump tests at selected monitoring wells to gather
characteristic data on the acquifer behavior to evaluate contaminant
transport.

Henry Van and Bal Wong are coordinating a trip to India to work with Dabhol
Management to develop an action plan for the groundwater issues and the EHS
Audits conducted to date (AD Little Safety audit, ENSR Environmental Audit
and Enron Operations Audit).  Expect to develop a workplan for Bal to
continue support Dabhol in the resolution of all issues at hand.

Ecolelectrica Air Compliance Issues - Marc Philips and Donnie Willmann met
with Ernesto Blanco and presented the plan for continue support to assist
in the resolution of NOV issues and prevent future NOVs.  Meeting went well
and all issues are understood as well as roles and responsibilities for
supporting
compliance.


Jim:

In connection with our disussion regarding Market Quotation and "Reference
Market - makers" in the Schedule (specifically Enron's request to delete
clause (b) to the Section 12 definition), I am advised that it would be
difficult to locate four leading dealers with offices in the same city.  With
respect to the outstanding trades, for example, we would like to know which
city has  four leading dealers  for quoting Mid-Columbia prices?  Please let
us know.  Thanks.  Sara


I received this email today from a very good friend of mine who has a lot of close friends from India.  This letter is to one of those close friends.  I don't know if I should pass it around but I want everyone I know to be aware.

Kim
> >
> >This is worth forwarding, just incase. . .
> >
> >========================================================================
> >===============================================
> >
> >PLEASE READ!
> >Subject: Malls on 10/31
> >
> >Hey guys..I dont want to scare anyone..but its better safe than sorry,
> >right?? This is not just a foward I recieved..Its from one of my
> >colleages at JPMorgan. It's been sent around within the firm, I wanted
> >to pass it on just in case.
> >Hi All -
> >I think you all know that I don't send out hoaxes and don't
> >do the reactionary thing and send out anything that crosses my
> >path.
> >This one,  however, is a friend of a friend and I've given it
> >enough credibility in my mind that I'm writing it up and sending it out
> >to all of you.
> >My friend's friend was dating a guy from Afghanistan up until a month
> >ago.  She had a date with him around 9/6 and was stood up. She was
> >understandably upset and went to his home to find it completely emptied.
> >On 9/10, she received a letter from her boyfriend explaining that
> >he
> >wished he could tell her why he had left and that he was sorry it
> >had to be like that.  The part worth mentioning is that he BEGGED her
> >not to get on any commercial airlines on 9/11 and to not to go any malls
> >on Halloween.
> >As soon as everything happened on the 11th, she called the FBI and has
> >since turned over the letter. This is not an email that I've received
> >and decided to pass on.  This came from a phone conversation with a
> >long-time friend of mine last night.
> >I may be wrong, and I hope I am.  However, with one of his warnings
> >being correct and devastating, I'm not willing to take the chance on the
> >second and wanted to make sure that people I cared about had the same
> >information that I did.
> >Laura Katsis
> >Implementation Specialist
> >714/921-5424
> >lkatsis@volt.com <mailto:lkatsis@volt.com>
> >OpsVolt_Track@volt.com <mailto:OpsVolt_Track@volt.com>
> >
> >
> >
> >--------------------------------------------------------------
> >Reminder:  E-mail sent through the Internet is not secure.
> >Do not use e-mail to send us confidential information
> >such as credit card numbers, changes of address, PIN
> >numbers, passwords, or other important information.
> >Do not e-mail orders to buy or sell securities, transfer
> >funds, or send time sensitive instructions. We will not
> >accept such orders or instructions.  This e-mail is not
> >an official trade confirmation for transactions executed
> >for your account.  Your e-mail message is not private in
> >that it is subject to review by the Firm, its officers,
> >agents and employees.
> >--------------------------------------------------------------
> >
> >
> >**********************************************************************
> >This e-mail is the property of Enron Corp. and/or its relevant affiliate
> >and may contain confidential and privileged material for the sole use of
> >the intended recipient (s). Any review, use, distribution or disclosure
by
> >others is strictly prohibited. If you are not the intended recipient (or
> >authorized to receive for the recipient), please contact the sender or
> >reply to Enron Corp. at enron.messaging.administration@enron.com and
delete
> >all copies of the message. This e-mail (and any attachments hereto) are
not
> >intended to be an offer (or an acceptance) and do not create or evidence
a
> >binding and enforceable contract between Enron Corp. (or any of its
> >affiliates) and the intended recipient or any other party, and may not be
> >relied on by anyone as the basis of a contract by estoppel or otherwise.
> >Thank you.
> >**********************************************************************
>
>
> _________________________________________________________________
> Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.asp
>
>


Here's the electronic-version of the analysis performed by MRW.
---------------------- Forwarded by Mona L Petrochko/SFO/EES on 05/16/2000
05:24 PM ---------------------------

"Michele S. Kito" <msk@mrwassoc.com> on 04/27/2000 11:06:27 AM
To: Mona.L.Petrochko@enron.com
cc: rbw@mailman.enron.com
Subject: Revised Memo

Mona,

Attached is a revised version of the memo regarding potential PG&E hydro
valuations, incorporating sensitivities for the discount rate and power
prices (e.g., HESI forecast) and incorporating some changes based upon our
review of SCE's hydro valuation workpapers (e.g., 20-year, rather than
40-year depreciation).  In addition, the attached excel spreadsheet
contains tables showing the annual cash flow for the various cash flow
analyses.  Feel free to call if you have any questions or comments.

Thanks,
Suzie
 - Hydro Valuation v.8.doc
 - Appendices.xls


ENA is prepared to file a lawsuit against Calpine Corp. relating to a trading
dispute.   Please let me know by the end of today if you have any objections
to the lawsuit or know of any potential counterclaims.


Gary:

Can someone in your dept. please reverify and determine if these volumes are
correct for June and August 2000.   HPL did not have any deals for these
volume deliveries for either sales or transportation.

                                   Enron Corp
                       METER GAS VOLUME SUMMARY FOR 06/00
   981459-15  9416 LEY ROAD  G.S.F. SALES               PRESSURE BASE: 14.650

  Day     MCF      DRY BTU      Dth       Day     MCF      DRY BTU      Dth
  ---     ---------       ---------   ---------    ---   ---------
---------   ---------
    1         34   1007.9415         34         16          0
1007.9415          0
    2         34   1007.9415         34         17          0      1007.9415
        0
    3         34   1007.9415         34         18          0
1007.9415          0
    4         34   1007.9415         34         19          0
1007.9415          0
    5         34   1007.9415         34         20          0
1007.9415          0
    6         34   1007.9415         34         21          0
1007.9415          0
    7           0   1007.9415           0         22          0
1007.9415          0
    8           0   1007.9415           0         23          0
1007.9415          0
    9           0   1007.9415           0         24          0
1007.9415          0
   10          0   1007.9415           0         25          0
1007.9415          0
   11          0   1007.9415           0         26          0
1007.9415          0
   12          0   1007.9415           0         27          0      1007.9415
         0
   13          0   1007.9415           0         28          0
1007.9415          0
   14          0   1007.9415           0         29          0
1007.9415          0
   15          0   1007.9415           0         30          0
1007.9415          0

                                         Total       204  1000.0000        204
Press RETURN to continue

                                   Enron Corp
                       METER GAS VOLUME SUMMARY FOR 08/00
   981459-15  9416 LEY ROAD  G.S.F. SALES               PRESSURE BASE: 14.650

  Day     MCF      DRY BTU      Dth       Day     MCF      DRY BTU      Dth
   ---     ---------       ---------      ---------      ---
---------       ---------       ---------
    1         33     1012.6934        33         17          0
1012.6934          0
    2           0     1012.6934          0         18          0
1012.6934          0
    3           0     1012.6934          0         19          0
1012.6934          0
    4           0     1012.6934          0         20          0
1012.6934          0
    5           0     1012.6934          0         21          0
1012.6934          0
    6           0     1012.6934          0         22          0
1012.6934          0
    7           0     1012.6934          0         23          0
1012.6934          0
    8           0     1012.6934          0         24          0
1012.6934          0
    9           0     1012.6934          0         25          0
1012.6934          0
   10          0     1012.6934          0         26          0
1012.6934          0
   11          0     1012.6934          0         27          0
1012.6934          0
   12          0     1012.6934          0         28          0
1012.6934          0
   13          0     1012.6934          0         29          0
1012.6934          0
   14          0     1012.6934          0         30          0
1012.6934          0
   15          0     1012.6934          0         31          0
1012.6934          0
   16          0     1012.6934          0
                                         Total        33  1000.0000         33
Press RETURN to continue

Please let me know at your earliest convenience.

Thanks, Clem


perhaps you were a little strong in relaying my concerns to someone?
----- Forwarded by Jeff Dasovich/NA/Enron on 12/07/2000 12:27 PM -----

	mbaldwin@igservice.com
	12/07/2000 12:19 PM

		 To: "Jeff Dasovich" <Jeff_Dasovich@enron.com>
		 cc: "Jeff Fawcett" <jfawcet@enron.com>
		 Subject: Media Inquiries

Jeff,

It has come to my attention that you were concern by some of my comments
recently televised on CH. 2. Let me try to  fill in the blanks. First, the
interview lasted almost 45 minutes of actual camera time. Of course, the
news media took their usually advantage of editing "for their agenda" what
they wanted. The risk you take in any situation like this. During the course
of the interview, I made it quite clear that it would be a mistake to lay
California's current natural gas problems on the doorstep of deregulation.
No one should question I am strongly in favor of gas deregulation in the
state.

On a more direct point, Mr. Vacar was clearly trying to get me to confirm
what he had already been told before my interview that the culprit here was
Enron Online. I disagreed with that conclusion yesterday and this morning.
About 1/2 hour ago, Mr. Vacar phone me to presumably find out what natural
gas prices where doing in the spot market. He quickly brought the
conversation back to Enron Online. I told him that it would be a mistake to
blame these current day prices on Enron Online. While it is convenient for
some to look for a simple singular answer or someone to blame, the answer
isn't Enron Online. He went on to reason that Enron is such a large energy
company they could conceivably "do this". I responded that would also be a
mistake. I acknowledged Enron as a large player but in no way capable of
running up California Gas prices because of some "perceived dominance".

Yesterday, I shared my concern that Mr. Vacar was directing his inquiries
toward Enron with Mr. Fawcett. Obviously , I reserve my right to call them
like I see them independent from anyone of my clients own agendas and will
continue to do so. The source of potential allegations against Enron isn't
me. If I can clarify anything else let me know.

Mark, IGS


Dear Bill, Kate, and Les,

   I wanted to let you all know what we are doing concerning deals # 524528.1 (purchase from Willamet)  and 524529.1 (sale to PACE).
I believe that we are all now familiar with the details of these deals.   Mike, Geir, Les, and I have spent a combined 4 hours or more researching this deal over the last month.  Our last resort is to pull the tapes.  As we do not have access to our tapes and I am not sure when we will have them back, we have decided to do the following until we have the tapes back and can verify that the sale to PAC did take place:

* I have extended the sale of 4 MW's of Willamet generation to PAC to include HE 13.
* I have TEMPORARILY zero'd out the HE 14-24 piece of this deal on the PAC side with notes

As the payment is 3 months overdue, we will pay now and get reimbursed if we find that we are correct.

Please share any thoughts with me that you may have.

Thanks to everyone for your help in researching this.

Virginia


Welcome & Enjoy Kingwood Cove Golf Specials.  Please take advantage of the
special offers.  You will receive notices weekly or bi-weekly.  If you no
longer wish to receive these messages, simply reply with your request.
Keep it in the fairway.

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                  -Senior Tournament every Monday morning
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?9 DIAS Y 8 NOCHES EN PUERTO PLATA Y  CANCUN CON TODO INCLUIDO POR TAN SOLO $399 p/p*!
?USTED ELIJE SU FECHA!

Estamos liquidando inventario sobrante de los programas del a?o 2001 y podemos ofrecerles AHORA MISMO 9 d?as y 8 noches de alojamineto de lujo con todo incluido por tan solo $399 por persona basado en habitaci?n doble.
LLAME AHORA MISMO AL 001-305-899-8889 PARA  MAYORES DETALLES O SIMPLEMENTE RESPONDE A ESTE MENSAJE CON SU NOMBRE, PAIS,  Y NUMERO DE TELEFONO INCLUYENDO EL CODIGO/LADA/INDICATIVO DE SU CIUDAD Y  NOSOTROS LE LLAMAREMOS.

DreamTime tours est? registrado en el estado de la Florida como vendedor de viajes y operador de tours con la licensia estatal ST-22168
DreamTime Tours International Travel Services
12000 Biscayne Blvd. Suite 202
Miami, FL 33181

*No incluye impuestos, tramites o cargos administrativos.


When: Occurs every Monday effective 9/17/2001 until 12/30/2002 from 10:00 AM to 11:00 AM (GMT-06:00) Central Time (US & Canada).
Where: EB16C1

*~*~*~*~*~*~*~*~*~*


-----Original Message-----
From: Montgomery, Claudette [mailto:Cmontgomery@kmg.com]
Sent: Wednesday, October 10, 2001 3:48 PM
To: 'aab1@pceinc1.com'; 'jwashington@aldine.k12.tx.us';
'bettynance@dellnet.com'; 'ddavi@enron.com';
'brenda_8896@email.msn.com'; 'cashley@poha.com'; 'dhicks4@csc.com';
'dimoore@airmail.net'; 'chsfj@allstate.com'
Subject: FW:

I think this is special to exit right mouse click cancel show. Have a
wonderful day.Thanks.
The photos are awesome -press your spacebar to change pictures

(See attached file: THINGSAR.PPS)


Dear all,

Please find attached the West Prices for 5/1/01.

Regards,
Samantha
503-464-7248


------------------------------------------------------------------------------------------------------
W E E K E N D   S Y S T E M S   A V A I L A B I L I T Y

F O R

June 1, 2001 5:00pm through June 4, 2001 12:00am
------------------------------------------------------------------------------------------------------

ECS to ECN Network Interconnection, June 9th 2001

This is a notification that the Enron Corp. I/T Networks team will be connecting the new building network infrastructure located in Enron Center South (ECS) to the existing Enron Center North (ECN) backbone network.  While this activity is not expected to produce a disruption to network services, this notice is designed to alert the organization to our activities.  No network hardware or systems are anticipated to be shutdown.  The actual physical interconnection of the networks will be performed in the EB 34th floor Data Center.

Interconnection activities are scheduled to occur the evening of June 9th 2001 starting from 7:00 p.m.(CT) and completing around 11:00 p.m. (CT). Application testing activities will begin at 11:00 p.m. (CT) once all network testing has completed.

If you have any further questions, please contact Pete Castrejana at 713-410-0642 for more information.

SCHEDULED SYSTEM OUTAGES:

ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

AZURIX: No Scheduled Outages.

EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.

EDI SERVER: No Scheduled Outages.

ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages

ENRON NORTH AMERICAN LANS:
Impact:  ENS
Time:  Fri 6/1/2001 at  11:00:00 PM CT thru Fri 6/1/2001 at  11:45:00 PM CT
	Fri 6/1/2001 at    9:00:00 PM PT thru Fri 6/1/2001 at     9:45:00 PM PT
	Sat 6/2/2001 at  5:00:00 AM London thru Sat 6/2/2001 at  5:45:00 AM London
Outage:  Enable routing on new router ecn-34-cor-ccr1
Environments Impacted:  ENS
Purpose: This router will be used to connect to the new building
Backout: remove routing on the router.
Contact(s): 	Scott Shishido    713-853-9780

Impact:  AEP
Time:  Fri 6/1/2001 at  8:00:00 PM CT thru Fri 6/1/2001 at  8:30:00 PM CT
	Fri 6/1/2001 at  6:00:00 PM PT thru Fri 6/1/2001 at  6:30:00 PM PT
	Sat 6/2/2001 at  2:00:00 AM London thru Sat 6/2/2001 at  2:30:00 AM London
Outage:  Shutting off the internal link to 1201 Louisiana
Environments Impacted:  AEP
Purpose: Company occupying that space has been sold.
Backout: None
Contact(s): 	Garhett Clark         713-345-9953
                        Robert Humlicek   713-853-6366   713-406-8293

Impact:  ENS/GCO
Time:  Fri 6/1/2001    thru Wed 7/4/2001
Outage:  HPL migration to AEP
Environments Impacted:  GCO
Purpose: Sites sold
Backout: None
Contact(s): 	Garhett Clark         713-345-9953
		Robert Humlicek   713-853-6366   713-406-8293

FIELD SERVICES:  No Scheduled Outages.

INTERNET:
Impact:  Internet
Time:  Fri 6/1/2001 at  10:30:00 PM CT thru Fri 6/1/2001 at  10:45:00 PM CT
	Fri 6/1/2001 at    8:30:00 PM PT thru Fri 6/1/2001 at     8:45:00 PM PT
	Sat 6/2/2001 at  4:30:00 AM London thru Sat 6/2/2001 at  4:45:00 AM London
Outage:  Reboot Enron.com edge routers
Environments Impacted:  Internet
Purpose: Regular reboot to prevent such problems as memory corruption. Intermettent disruption to last about five minutes.
Backout:
Contact(s): 	John Shupak          713-853-7943
		Bryan Aubuchon    713-345-8446

MESSAGING:
Impact:  Corp Notes
Time:  Fri 6/1/2001 at  9:00:00 PM CT thru Sat 6/2/2001 at  1:00:00 AM CT
	Fri 6/1/2001 at  7:00:00 PM PT thru Fri 6/1/2001 at 11:00:00 PM PT
	Sat 6/2/2001 at  3:00:00 AM London thru Sat 6/2/2001 at  7:00:00 AM London
Outage:  cNotes Server Reboots
Environments Impacted:  All users on any of the mailservers listed below
Purpose: Scheduled @ 2 week interval
Backout: Make sure server comes up.
Contact(s): 	Trey Rhodes  (713) 345-7792

Impact:  EI
Time:  Fri 6/1/2001 at  9:00:00 PM CT thru Sat 6/2/2001 at  1:00:00 AM CT
	Fri 6/1/2001 at  7:00:00 PM PT thru Fri 6/1/2001 at 11:00:00 PM PT
	Sat 6/2/2001 at  3:00:00 AM London thru Sat 6/2/2001 at  7:00:00 AM London
Outage:  EI Notes Server Maintenance
Environments Impacted:  EI Local/Domestic/Foreign Sites
Purpose: Scheduled @ 2 week interval
Backout: N/A
Contact(s): 	David Ricafrente    713-646-7741

MARKET DATA: No Scheduled Outages.

NT: No Scheduled Outages.

OS/2:  No Scheduled Outages.

OTHER SYSTEMS: No Scheduled Outages.

SITARA:  No Scheduled Outages.

SUN/OSS SYSTEM: No Scheduled Outages.

TELEPHONY: No Scheduled Outages

TERMINAL SERVER:  No Scheduled Outages.

UNIFY:  No Scheduled Outages.

-------------------------------------------------------------------------------------------------------------------------------------
								FOR ASSISTANCE

(713) 853-1411   Enron Resolution Center

Specific Help:
Information Risk Management			(713) 853-5536
SAP/ISC                                                                               (713) 345-4727
Unify On-Call 					(713) 284-3757  [Pager]
Sitara On-Call					(713) 288-0101  [Pager]
RUS/GOPS/GeoTools/APRS			(713) 639-9726  [Pager]
OSS/UA4/TARP				(713) 285-3165  [Pager]
CPR						(713) 284-4175  [Pager]
EDI Support 					(713) 327-3893  [Pager]
EES Help Desk					(713)853-9797 OR (888)853-9797
TDS -Trader Decision Support On-Call                    (713) 327-6032 [Pager]


Below is a brief summary of the five Executive Orders issued by Governor
Davis on 2/9/01.

For those of you that want the Cliff Notes Version:

These Orders appear to be an attempt to accomplish three things:

1.  Expedite Siting for New Powerplants and Expansions or Modifications of
Existing Powerplants
2.  Maximize Output and Minimize Outages at Existing Facilities
3.  Centralize Authority and/or Mitigate Issues Impacting Powerplant Siting
and Construction

The tone is both one of we feel your pain in the complexity of permitting
powerplants; and that we will tolerate no excuses for not running at full
capacity.  (ie; the carrot and the stick)

They also includes some targeted incentives to encourage powerplant operators
to sell their power under contract to the State Dept. of Water.

Some of the critical issues impacting the effectiveness of these orders will
be:

- How much capacity is truly "idling" and will be able to be brought back on
line or increase its output?
- Will the state be able to better manage air quality issues and create
flexibility within the framework allowed by the Clean Air Act in order to
positively change the air quality issues impacting power plant construction
and operation?
- How quickly can the accelerated permitting procedures be implemented and
how soon will we see movements in the market to increase new generation given
the other issues in CA?

We will continue to analyze the impacts of these orders, but wanted to get
information to you in a timely manner.

D-22-01  Increased Output/Expedited Siting Mandates

CEC exemption from siting requirements for increased output by existing power
generators.
- limited to less than 50MWs using existing installed capacity b/w
06/01-10/01/01

Expedited processing of applications for certification of existing thermal
powerplants that require retooling and a current license to operate.

Accelerated review from all agencies involved in the licensing of proposed
thermal powerplants.

Action by the State Water Resources Control Board  to insure wastewater
issues do not preclude thermal powerplants from operating.

Requirements for the State Dept. of Water Resources to purchase power from
powerplants using renewables and other resources that may currently have not
other market for their power.

Expires  12/31/01 unless extended

Analysis:

This Order is intended to take away the excuses for why some powerplants are
currently not operating or not operating at full capacity.  It does not waive
air quality requirements (they are addressed in a separate order).

D-23-01  Appropriate Maintenance and Efficient Operation Requirements

ISO Requirements:
- Require generators to submit planned outage schedules to the ISO
- Prepare a coordinated outage plan to be updated quarterly
- Identify generation maintenance criteria to be met by generation facilities
- Maintain records of any unplanned generation facility outages and provide
those records to Electricity Oversight Board
- Conduct independent audits of generation facilities that have fallen below
performance benchmarks est. by the ISO
- Consider seeking the authority under state law of federal regulation to
impose fines on those generation facility owners whose generation facilities
have fallen     below performance benchmarks est. by the ISO

Requires that the Electricity Oversight Board review the ISO Tariffs and
Protocols to identify any necessary revisions to increase the ISO's ability
to ensure adequate power during peak demand.

Instructs the CPUC to ensure that generation facilities still owned by
utilities are operated as required to maintain reliability.

Requires the Electricity Oversight Board to propose legislation to expand its
authority to issue audits of generation facilities that do not meet est.
benchmarks for availability and performance, and issue fines against those
plants, after a hearing.

Analysis:

Again, the tone of this order is that the state won't tolerate outages as an
excuse for not generating.  It is also an attempt to better manage planned
outages to prevent situations that happened last fall when too many plants
where off-line for maintenance at the same time.

D-24-01  Air Pollution Flexibility and Mitigation Measures

Mandates that local air districts modify emissions limits that limit hours of
operation in air quality permits to ensure that power generation facilities
that provide power under contract to the Dept. of Water Resources are not
restricted in their ability to operate.
- Requires air districts to require a mitigation fee for all applicable
emissions in excess of the previous limits
- If air districts do not comply, the Board (CARB?) shall impose
modifications on the permits in lieu of districts

The Board shall establish an emissions reduction credit bank using emissions
reductions from all available sources:
- Credits will be made available to powerplant peaking sources that need
emissions offsets in order to add new or expand peaking capacity for the
Summer Peak Season in 2001
- In the case of powerplants that agree to sell their power under contract to
the Dept. of Water Resources, CA will make available where necessary and
available the required emissions credits at up to a 50 percent reduction,
- In order to maximize the amount of electrical generating capacity,
emissions reduction credits for new generation capacity shall be provided to
facilities where necessary and available.
- Proceeds from the sales of these emission reduction credits shall be made
available to fund emissions reduction programs in the air district where the
new or expanded facility is located.

Expires 12/31/2001 unless extended

Analysis:

This order requires the air districts to modify permit limits on run hours
for air quality reasons by allowing those powerplants that sell to the Dept.
of Water to pay a mitigation fee and creates an emission reduction credit
bank available for use by other sources.  There are a lot of details that
remain to be clarified, including how the state is going to locate emissions
reduction credits where developers were unsuccessful.  However, it is a step
in the right direction by creating flexibility and beginning to drive
authority back to the state level.

D-25-01  Acceleration the Construction and Upgrading of Approved Powerplants

Expedites review and approval of post-certification amendments to increase
output from thermal powerplants by the Energy Commission.

Authorizes the Energy Commission to suspends the requirements of the statutes
and regulations that normally control post-certifications to the extent that
they impact prompt mitigation of this emergency.

Requires the Energy Commission to establish milestones for both initiation of
construction within one year of certification, and for the construction phase
of the project.  Failure to meet milestones without prior approval by Energy
Commission based on a showing of good cause shall constitute forfeiture of
the certification.

Expires 12/31/01 unless extended

Analysis

Again, no excuses for not getting your powerplant modifications approved and
completed in a timely manner.

D-26-01  Accelerating the Availability of New Generation Sources

Requires all relevant agencies shorten the review periods to 7 days for
required environmental impact documents prepared under CEQA for all
powerplants that are not subject to the Energy Commission (under 50MWs) and
that are proposed to be on line by summer 2001.

 Energy Commission shall expedite its licensing process in the following ways:
- Expedite processing of applications for peaking or renewable powerplants
for construction and operation by July 31, 2001.
-Peaking or renewable powerplants that have a current contract with the ISO
and can be online by July 2001 may also apply to be permitted by the Energy
Commission under the emergency siting process.
-Rules which provide a license for a simple cycle thermal powerplant within
four months, shall apply to any proposed simple-cycle thermal powerplant that
can be brought on line by August 31, 2002  and that have an application for
certification complete by Dec. 31. 2001.
-Under regulations for the expedited licensing of powerplants, emission
offset credits are not required at the time of filing an application for
certification
-The Energy Commission shall conduct a study of potential peaking power sites
in the state and prepare a report by 02/21/01  identifying those areas of the
state that would benefit from the installation of peaking powerplants to
augment supplies and ensure reliability through the summer of 2003.

IOUs must complete necessary interconnection studies within 7 days of receipt
of completed application.

Expires 12/31/01 unless extended.

Analysis:

This is an attempt to accelerate the permitting of smaller sources and
peaking units.


---------------------- Forwarded by Carol St Clair/HOU/ECT on 05/08/2000
12:12 PM ---------------------------

"Eldredge, Jeff" <jeldredge@velaw.com> on 05/08/2000 10:32:06 AM
To: "Eveling, James (Milbank)" <jeveling@milbank.com>, sdwyer@enron.com,
mabboudy@enron.com, aedgley@enron.com, mevans@enron.com, plord@enron.com,
baiken@enron.com, bglisan@enron.com, mjakubi@enron.com, jbadillo@enron.com,
"Patel Truschar (Enron)" <tpatel@enron.com>, jginty@enron.com, "Dewar,
Donette (Enron)" <donette.dewar@enron.com>, acamarero@enron.com,
sschard@enron.com, "Scott, Dwight (DLJ)" <dscott@dlj.com>, "Cabes, Robert
(Donaldson, Lufkin & Jenrette)" <rcabes@dlj.com>, "Adkerson, Clark
(Donaldson, Lufkin, & Jenrette" <cadkerso@dlj.com>, scott.sefton@enron.com,
"St. Clair, Carol (Enron)" <carol.st.clair@enron.com>, "Hemsey, Debra
(Donaldson, Lufkin & Jenrette)" <dhemsey@dlj.com>, "Ball, Jeff (Donaldson,
Lufkin & Jenrett
cc: "Siebens, Thomas (Milbank, Tweed, Hadley & McCloy)"
<tsiebens@milbank.com>, "Fletcher, Phillip (Milbank, Tweed, Hadley & McCloy"
Subject: RE: Project Margaux - Transaction Documents List

I have reviewed the last Transaction Document List produced by Milbank on
April 7  ( the "TDL" ) and suggest that the documents referenced below will
need to be in pretty close to final shape before we mail the preliminary
offering memo.  Since many of these documents need to be agreed between DLJ
and Enron and then between Enron and the "Equity," we should probably get
started on these documents as soon as possible.  We have seen drafts of some
of these docs, but not most.

Using the TDL as a reference, these documents are items I.1., I.2., I.3.,
I.4., II.A.1.-5. and 7., C.1.1.1-1.4., 1.7, 1.8. and 1.10 and all of C.12.
Thanks, JE.

Jeffrey E. Eldredge
Vinson & Elkins L.L.P.
Regis House
45 King William Street
London EC4R  9AN
Office Tel: (44-171) 618-6013
Fax: (44-171) 618-6001
Mobile Tel: (44) 0411 435 486

-----Original Message-----
From: Eveling, James (Milbank)
Sent: 07 April 2000 19:37
To: sdwyer@enron.com; mabboudy@enron.com; aedgley@enron.com;
mevans@enron.com; plord@enron.com; baiken@enron.com; bglisan@enron.com;
mjakubi@enron.com; jbadillo@enron.com; Patel Truschar (Enron);
jginty@enron.com; Dewar, Donette (Enron); acamarero@enron.com;
sschard@enron.com; Scott, Dwight (DLJ); Cabes, Robert (Donaldson, Lufkin &
Jenrette); Adkerson, Clark (Donaldson, Lufkin, & Jenrette;
scott.sefton@enron.com; St. Clair, Carol (Enron); Hemsey, Debra (Donaldson,
Lufkin & Jenrette); Ball, Jeff (Donaldson, Lufkin & Jenrette); Woodbury,
Peter (Donaldson, Lufkin & Jenrette); Piskadlo, Roy (Donaldson, Lufkin &
Jenrette); nora.dobin@enron.com; bherman@dlj.com; drockech@dlj.com; Allen,
Melissa (Arthur Andersen); Clement-Davies, Christopher; Eldredge, Jeff;
MacGibbon, Sam (London); Chandler, Trina; Schimberg, Michael; Kidwell,
Mathew (London); Wright, Andy; Osterberg, Edward; mrh@mm-brig.mottmac.com;
jll@mm-brig.mottmac.com
Cc: Siebens, Thomas (Milbank, Tweed, Hadley & McCloy); Eveling, James
(Milbank); Fletcher, Phillip (Milbank, Tweed, Hadley & McCloy; Davis,
Trayton (Milbank); Kayle, Bruce (Milbank); Keene, Lonnie (Milbank, Tweed,
Hadley & McCloy); Kneip, Fred (Milbank); Puleo, Frank (Milbank); Rayner, Ed
(Milbank); Wilson, Melanie (Milbank, Tweed, Hadley & McCloy); Walker, Andrew
(Milbank)
Subject: Project Margaux - Transaction Documents List

Please find attached an updated version of the Project Margaux Transaction
Documents List.

For your information, the following documents have already been circulated
by Milbank to the working group:

1. Swap Documentation (Schedule to ISDA Master Agreement, Confirmation and
Swap Assignment) - sent out 5 April;

2.  Senior Notes Indenture - sent out 1 April;

3.  Subsidiary Notes Indenture - sent out 4 April.

During the course of next week, we expect to distribute drafts of additional
documents, which will include the Participation Agreement and the Trust
Agreements.

Regards

James Eveling

<<#20035893 v10 - TRANSACTION DOCUMENTS7April.doc>>

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Here is today's copy of Bloomberg Power Lines. Adobe Acrobat Reader is
required to view the attached pdf file. You can download a free version
of Acrobat Reader at
   http://www.adobe.com/products/acrobat/readstep.html

If you have trouble downloading the attached file it is also located at
   http://www.bloomberg.com/energy/daily.pdf

Don't forget to check out the Bloomberg PowerMatch West Coast indices, the
most accurate indices anywhere. Index values are calculated from actual trades
and can be audited by all PowerMatch customers.

Our aim is to bring you the most timely electricity market coverage in the
industry and we welcome your feedback on how we can improve the product
further.

Bloomberg Energy Department

12/13 Bloomberg Daily Power Report

Table

                      Bloomberg U.S. Regional Electricity Prices
      ($/MWh for 25-50 MWh pre-scheduled packages, excluding transmission
costs)

                            On-Peak
West Coast                   Index       Change       Low         High
 Mid-Columbia                362.50     -312.50      350.00      375.00
 Ca-Or Border                452.50     -172.50      430.00      475.00
 NP15                        387.50     -206.25      325.00      450.00
 SP15                        307.50     -233.50      300.00      315.00
 Ault Colorado               350.00     -125.00      300.00      315.00
 Mead                        335.00     -187.50      320.00      350.00
 Palo Verde                  336.25     -136.53      320.00      350.00
 Four Corners                330.00     -182.50      325.00      335.00

Mid-Continent
 ECAR                        69.20       -22.71      63.00       75.86
  East                       75.00       -13.00      74.00       76.00
  AEP                        67.00       -25.50      59.00       75.00
  West                       68.00       -24.50      60.00       75.00
  Central                    67.90       -23.19      59.00       75.00
  Cinergy                    67.90       -23.19      59.00       75.00
  South                      70.25       -23.95      65.00       80.00
  North                      68.33       -25.67      65.00       75.00
 Main                        72.56       -19.78      62.50       87.50
  Com-Ed                     68.70       -21.37      60.00       75.00
  Lower                      76.43       -18.17      65.00       100.00
 MAPP                        99.92       -40.91      75.00       125.00
  North                      99.00       -37.67      75.00       125.00
  Lower                      100.83      -44.17      75.00       125.00

Gulf Coast
 SPP                         85.00       -18.50      80.00       92.50
  Northern                   88.00       -39.00      78.00       100.00
 ERCOT                       55.00       -40.00      50.00       60.00
 SERC                        77.04       -6.66       72.34       81.98
  Va Power                   66.00       +25.00      60.00       70.00
  VACAR                      67.50       -9.50       62.00       70.00
  Into TVA                   70.25       -23.95      65.00       80.00
  Out of TVA                 76.02       -24.61      69.41       84.87
  Entergy                    80.00       -30.80      75.00       85.00
  Southern                   90.00       +10.00      90.00       90.00
  Fla/Ga Border              85.50       +4.50       81.00       90.00
 FRCC                        110.00      +65.00      110.00      110.00

East Coast
 NEPOOL                      90.50       +0.50       90.50       90.50
 New York Zone J             91.00       +7.50       90.00       92.00
 New York Zone G             74.50       +1.00       73.50       75.50
 New York Zone A             68.83       +6.13       65.50       73.50
 PJM                         67.08       -12.75      62.00       76.00
  East                       67.08       -12.75      62.00       76.00
  West                       67.08       -12.75      62.00       76.00
  Seller's Choice            66.58       -12.75      61.50       75.50
End Table

Western Power Prices Fall With Warmer Weather, Natural Gas Loss

     Los Angeles, Dec. 13 (Bloomberg Energy) -- U.S. Western spot
power prices declined today from a combination of warmer weather
across the region and declining natural gas prices.
     According to Belton, Missouri-based Weather Derivatives Inc.,
temperatures in the Pacific Northwest will average about 2 degrees
Fahrenheit above normal for the next seven days. In the Southwest
temperatures will be about 3.5 degree above normal.
     At the California-Oregon Border, heavy load power fell
$172.00 from yesterday to $430.00-$475.00.
     "What happened to all of this bitter cold weather we were
supposed to have,'' said one Northwest power marketer. Since the
weather is not as cold as expected prices are drastically lower."
     Temperatures in Los Angeles today will peak at 66 degrees,
and are expected to rise to 74 degrees this weekend.
     Natural gas to be delivered to the California Oregon from the
El Paso Pipeline traded between $20-$21, down $3 from yesterday.
     "Gas prices are declining causing western daily power prices
to fall,'' said one Northwest power trader.
     At the NP-15 delivery point heavy load power decreased
$206.25 from yesterday to $325.00-$450.00. Light load energy fell
to $200.00-$350.00, falling $175.00 from yesterday.
     PSC of New Mexico's 498-megawatt San Juan Unit 4 coal plant
was shut down this morning for a tube leak. The unit is scheduled
to restart this weekend.
     At the Four Corners located in New Mexico, power traded at
$325.00-$335.00 plunging $182.50 from yesterday.

-Robert Scalabrino

PJM Spot Power Prices Dip With Weather, Falling Natural Gas

     Philadelphia, Dec. 13 (Bloomberg Energy) -- Peak next-day
power prices declined at the western hub of the Pennsylvania-New
Jersey-Maryland Interconnection amid warmer weather forecasts and
falling natural gas prices, traders said.
     The Bloomberg index price for peak Thursday power at western
PJM declined an average of $12.75 a megawatt-hour, with trades
ranging from $62.00-$76.00.
     Lexington, Massachusetts-based Weather Services Corp.
forecast tomorrow's high temperature in Philadelphia at 40 degrees
Fahrenheit, up 7 degrees from today's expected high. Temperatures
could climb as high as 42 degrees by Friday.
     "Most of the day's activity took place in the early part of
the morning," said one PJM-based trader. "By options expiration
the market had pretty much dried up."
     Traders said that falling natural gas prices were the main
reason for the decline in spot market prices.
     Bloomberg figures show that spot natural gas delivered to the
New York City Gate declined an average of $1.25 per million
British thermal units to $8.60-$8.90 per million Btu. Since
Monday, delivered natural gas prices have declined an average of
$2.44 per million Btu, as revised 6-10 day weather forecasts
indicated reduced utility load requirements.
     In New York, prices rose as utilities withheld supplies they
normally would have sold, fearing a sudden change in weather
forecast could force them into high-priced hourly markets.
     Peak next-day power at the Zone A delivery point sold $6.13
higher at a Bloomberg index price of $70.33, amid trades in the
$67.00-$75.00 range. Power at Zone J sold $7.50 higher at $90.00-
$92.00.
     ~
-Karyn Rispoli

Mid-Continent Power Prices Drop on Revised Forecast, Gas Prices

     Cincinnati, Dec. 13 (Bloomberg Energy) -- U.S. Mid-Continent
next-day peak power prices plunged as forecasts were revised
warmer and natural gas values continued to decline, traders said.
     The Bloomberg index price for peak Thursday power on the
Cincinnati-based Cinergy Corp. transmission system dropped $23.19
to $67.90 a megawatt-hour, with trades ranging from $75.00 as the
market opened down to $59.00 after options expired.
     In Mid-America Interconnected Network trading, peak power on
the Chicago-based Commonwealth Edison Co. grid sold $21.37 lower
on average at $60.00-$75.00, while power in lower MAIN sold $18.17
lower at $65.00-$100.00.
     Belton, Missouri-based Weather Derivatives Inc. predicted
high temperatures would average 2 degrees Fahrenheit above normal
in Chicago and at normal levels in Cincinnati over the next seven
days, up from 6 and 4 degrees below normal Monday, respectively.
     Traders said falling spot natural gas values also pulled
prices down. Natural gas prices were a large factor in recent
electricity market surges because of a heavy reliance on gas-fired
generation to meet increased weather-related demand.
     Spot natural gas at the Cincinnati city gate sold an average
of 95 cents less than yesterday at $7.80-$8.30 per million British
thermal units. Spot gas at the Chicago city gate sold an average
of 80 cents less at $7.65-$8.15 per million Btu.
     "The weather's moderating and gas is down, so you've got
people coming to their senses," one trader said. "These are much
more realistic prices."
     Traders said prices could decline further tomorrow if the
outlook for weather continues to be mild. Peak Cinergy power for
delivery from Dec. 18-22 was offered at $60.00, down from $90.00
yesterday.
     Mid-Continent Area Power Pool peak spot power prices plunged
with warmer weather forecasts and increased available transmission
capacity, selling $37.67 less in northern MAPP and $44.17 less in
southern MAPP at $75.00-$125.00.
     "What's happening is the people who don't have firm
transmission are getting into the market early and buying at those
high prices since they have no choice," one MAPP trader said.
     "Then you've got some people who were lucky enough to get a
firm path who waited until later in the morning when ComEd prices
fell off," he said, "and bought from them at those lower prices,
causing the huge gap between the day's high and low trade."

-Ken Fahnestock

Southeast U.S. Electricity Prices Slump After Mild Forecast

     Atlanta, Georgia, Dec. 13 (Bloomberg Energy) -- Southeast
U.S. peak spot power prices slumped today after warmer weather was
forecast for the region this week, traders said.
     Traders said Southeast utility demand has been reduced since
many large population centers like Atlanta will see temperatures
climb into the mid-50s Fahrenheit later this week.
     "There was nothing going on in Florida today," said one
southern energy trader. "Everything was going to markets in the
north."
     Traders said supply was being routed from Florida into
markets on the Entergy Corp. and the Tennessee Valley Authority
grid in the mid-$70s a megawatt-hour.
     "Prices into TVA started in the $80s and $90s and crumbled as
forecasts came out," said on Entergy power trader. "Prices,
declined to $60 and less."
     The Bloomberg into TVA index price fell an average of $23.95
to $70.25 amid trades in the $65.00-$80.00 range. Off-peak trades
were noted at $32.00, several dollars higher than recent
estimates.
     Southeast power traders said revised 6-10 day weather
forecasts and lower temperatures for the balance of this week
caused prices to decline in the region.
     In the Southwest Power Pool, traders said warmer weather was
the main culprit behind lower prices.
     "The cold weather's backing off," said one SPP utility
trader. "It was minus 35 degrees with the wind chill yesterday and
today it's about 9 degrees with the wind chill.  Yesterday, it was
bitter cold and today it was just plain cold."
     Power sold in northern sections of SPP at $78-$100, though
the Bloomberg index sank an average of 39.00 to $88.00. Southern
SPP traded at $82.00, $2 more than yesterday.

-Brian Whary

U.K. Day-Ahead Electricity Prices Rise Amid Increased Demand

     London, Dec. 13 (Bloomberg Energy) -- Electricity prices in
the U.K. rose today after falling temperatures were expected to
increase household consumption for space heating, traders said.
     The day-ahead baseload Pool Purchase Price, calculated by the
Electricity Pool of England and Wales, rose 1.46 pounds to 20.01
pounds a megawatt-hour.
     Temperatures across the U.K. were forecast to fall 6 degrees
to 4 degrees Celsius by the weekend, according to Weather Services
Corp. in the U.S.
     Day-ahead Electricity Forward Agreements dealt at 19.7-20.15
pounds a megawatt-hour, 2.1 pounds higher than yesterday.
     December continued to fall amid a combination of position
closing prior to its expiry and continued belief that demand will
not rise sufficiently to justify high winter prices, traders said.
     December 2000 baseload EFAs traded at 17.9-18.05 pounds a
megawatt-hour, 40 pence below yesterday's last trade.
     First quarter and its constituent months fell, in line with
expectations that mild forecasts into the new year would continue
to stifle demand, traders said.
     January 2001 baseload EFAs dealt between 24.6-24.73 pounds a
megawatt-hour, falling 17 pence.
     First quarter 2001 baseload EFAs traded at 21.6-21.7 pounds a
megawatt-hour, 10 pence below its previous close.
     Season structures traded on the U.K. Power Exchange, summer
2001 baseload trading unchanged at 18.15 pounds a megawatt-hour.
Winter 2001 baseload dealt 5 pence higher at 21.75 pounds a
megawatt-hour.
     Open positions on many short-term structures will likely
force many traders to deal actively on those contracts in the run-
up to Christmas, traders said. Adding that other structures will
probably remain illiquid until the new year, when demand can more
easily be assessed.

-Nick Livingstone

Nordic Electricity Prices Climb Following Cold Weather Forecast

     Lysaker, Norway, Dec. 13 (Bloomberg Energy) -- Power prices
on the Nord Pool exchange in Lysaker, Norway, closed higher today
as colder weather forecasts sparked active trade, traders said.
     Week 51 dealt between 145-152 Norwegian kroner a megawatt-
hour, 6.62 kroner above yesterday's closing trade on 1,076
megawatts of traded volume. Week 52 rose 6.25 kroner, with 446
megawatts dealt between 134.50-140.25 kroner a megawatt-hour.
     Supply from hydro-producers was expected to recede after
forecasts indicated reduced precipitation over Scandinavia for
next week. These producers typically generate power to prevent
reservoirs from overflowing.
     Consumption, currently unseasonably low, was expected to rise
with falling temperatures because of increased requirements for
space heating.
     Traded volume on the power exchange increased in active
trading on the beginning of typical winter conditions, traders
said.
     "The market's been waiting for this day for a long time," a
Stockholm-based trader said. "For too long, people have been
selling because winter hasn't lived up to expectations. We should
now see a noticeable increase in the spot price."
     Temperatures in parts of Scandinavia were forecast to fall
below freezing to minus 5 degrees Celsius, with only limited
chances for rain during the 5-day outlook, according to Weather
Services Corp. in the U.S.
     The day-ahead system average area price fell after demand was
expected to remain limited until next week, when forecasts predict
temperatures to begin falling.
     Thursday's system area price fell 1.57 kroner, or 1.22
percent, to 126.43 kroner a megawatt-hour. Traded volume fell
4,134 megawatts to 295,414 megawatts.
     Many dealers anticipate that the spot price will likely rise
by 10-15 kroner by the start of next week.
     Winter 1, 2001 forward structures rose in line with shorter-
term contracts.
     Winter 1, 2001 dealt at 136.75-138.5 kroner a megawatt-hour,
1.9 kroner below yesterday's last trade at 135.25 kroner a
megawatt-hour.
     Also, the delayed restart at a Swedish nuclear unit, although
expected, will likely allow abundant supply from hydro-producers
to meet the increased demand, other traders said.
     Vattenfall's Ringhals 1, an 835-megawatt nuclear reactor,
will delay its restart at least until week 52, the company said.
     Today's rapid increase was likely induced by traders who used
today's news to gain momentum for future increases, traders said.

-Nick Livingstone
-0- (BES) Dec/13/2000 21:04 GMT
$

 - daily.pdf


Since we will all be swamped trying to get out of here on time tomorrow, I
think we should defer the group meeting.  I will be out of town on the 16th,
so please check your calendars to see if 10:00 on the 9th will work as a
substitute.


Please let me know when the vaccine is available.


Dear Officers,

Hines, the building management team, has offered to move us at no charge to
space on the 36th floor of our building.  The move itself will cost Hines an
estimated $87,000 -- for construction of the space, moving fees,
telecommunications setup and office materials.  Our lease for this new space
would run through May 2002 at our current rate.

They will give us the option to now sign a lease extension from May 2002 to
May 2005 at a base rate of no more than $20.50 per square foot.  We have
checked with several corporate real estate facilities departments (Enron, El
Paso, Dynegy) with the general consensus reached that this is clearly a
financial advantage for us.

Should we not take this offer,  Cinergy will assume our space at the end of
our lease.  We will be responsible for our own move (a considerable expense),
and after the move will be responsible for a higher lease rate, assuming we
stay in the downtown Houston area.  In the meantime, we will be placed in the
middle of Cinergy's construction on our floor.

All things considered, I advise that we do agree to the move, which can be
accomplished over a weekend with little disruption to our office.    Please
let me know if you concur or have concerns.

Best Regards,  Rae

Subj:   GISB Office Space
Date:   6/23/00
To: shorton@enron.com, hdroberts@marathonoil.com
To: wpboswel@mwbb.com, gisb4, jhb@8760.com,
 gisb

Dear officers,

    We have been approached by Hines, our building landlord, asking us if we
would consider moving.  Cinergy -- the only other tenant on our floor, have
asked for our space.  Our lease runs through to April 2002, for 2455 square
feet of space.  Hines noted that all moving expenses (upwards of $50,000)
would be covered.  In addition, they indicated our lease might be extended to
the end of 2004 at our current rate of $6.00 base per square foot and $8.50
add on for utilities and maintenance per square foot, for a total of $14.50
per square foot.  This is an advantageous rate as it was negotiated prior to
downtown becoming so populated.  We confirmed with commercial real estate
agents that average rates for downtown space "A Buildings" now are
considerably higher, in the neighborhood of $22 to $30 per square foot and
more if we were located in the Galleria area.  Our building is considered an
"A Building."

    There is other space in the building that is better laid out, and would
accommodate expansion, if needed.  We are still in the discussion stages --
but it looks like a financially favorable arrangement if everything can be
worked out.  We would be able to move over a weekend, have little or no
disruption of service, maintain the same phone numbers, still be in the same
building -- have more possibilities for expansion if needed, and maintain the
same low rate for a longer period of time.  The space they have offered is
2500 square feet but at our current monthly rental rates.

    We should be able to sublease the space with little difficulty, in the
event a new organization comes into being and our location and office is not
appropriate for the new organization.  Looks like lots of advantages and very
few risks.

    If we stay where we are, our lease runs out in April 2002 in which event
we will probably be required to move and we will spend upwards of $50,000 to
make such a move and be faced with higher per square foot rental costs.
Meanwhile, Cinergy is planning to reconstruct our floor and our office will
be in the middle of construction activity for some time.

    The conversations are in the early stages, and I'll keep you informed as
they go. Let me know if you have any concerns with  this approach.

Best Regards,  Rae


Teco Tap       30.000 / Enron ; 68.542 / HPL Gas Daily


FYI

-----Original Message-----
From: rlstone@bpa.gov [mailto:rlstone@bpa.gov]
Sent: Monday, August 20, 2001 9:22 AM
To: OASISPOSTINGS-L@LIST.TRANSMISSION.BPA.GOV
Subject: OASIS Posting - Redispatch and Curtailment Procedures Final

Please click on the attached icon or the Web address below to go to the most recent OASIS Posting.

If that doesn't work highlight and copy the address below, then paste it into the address line of your Web browser and hit "enter":

Information on BPAT's implementation of tariff terms and conditions and/or transmission marketing policy has been posted to:

http://www.transmission.bpa.gov/oasis/bpat/BusPractices/forum/messageview.cfm?catid=17&threadid=94.doc

For questions or comments, please contact your Transmission Account Executive.


Tana,

Can you tell me which numbers the CA's are in the atty.fms?

Thanks,
Genia

	Tana Jones
	02/26/2001 03:54 PM

		 To: Genia FitzGerald/HOU/ECT@ECT
		 cc: Janet H Moore/HOU/ECT@ECT
		 Subject: Re: Confidentiality Agreement

As a general matter, you need to use the forms of Confidentiality Agreements
contained in the atty.fms bank, not the Swap Group's forms.  We have
developed a few of our own forms for special purposes, one, which is in the
swap forms database/current forms, protects the counterparty only, and is
used when Credit wants to get copies of financal statements from a
counterparty and protects the financial information being provided by the
counterparty.

I have developed forms for use by the EnronOnline team, but those should not
be used for any Enron company except EnronOnline and Enron Net Works.

For any other types of matters/projects, we would also use the forms
contained in the atty.fms bank.

	Genia FitzGerald
	02/26/2001 03:44 PM

		 To: Tana Jones/HOU/ECT@ECT
		 cc: Janet H Moore/HOU/ECT@ECT
		 Subject: Confidentiality Agreement

Tana,

Could you please supply me with a copy of your current Confidentiality
Agreement?  Since we "copied" your group on the Enron Corp. Guarantee
Agreement, I thought we could do the same with the CA.

Thanks,
Genia