FYI>
?
----- Original Message -----
From: andy brown
To: smutny@iepa.com ; steven@iepa.com ; kaplan@iepa.com ; dkk ; runwithmee ;
Andy Brown ; Eric Janssen ; cte ; Gregory Maxim ; lmh@eslawfirm.com ;
jdh@eslawfirm.com
Sent: Friday, October 20, 2000 7:53 AM
Subject: FERC & California markets

Article noting that FERC will have special meeting on Nov 1 re  California
markets, also Article that Terry Winter is having a press conference  today
(Friday) about how the market will be fixed:

FERC To Meet Nov 9 To Propose Remedies To Calif
???????????????????  Pwr Mkt
???????????????????  Friday, October 20, 2000 08:17 AM
?

???????????????????  LOS ANGELES (Dow Jones)--In an unusual move, the Federal
Energy  Regulatory
???????????????????  Commission said Thursday it will meet Nov. 1 to discuss
remedies to  California's
???????????????????  troubled wholesale power market.

???????????????????  Details of a probe into California's wholesale
electricity market will also be  released at
???????????????????  the Nov. 1 meeting. As reported, state and federal
regulators launched the probe  over
???????????????????  the summer, saying the market wasn't workably
competitive.

???????????????????  FERC also said it expects to hold a public hearing Nov.
9 to discuss  possible
???????????????????  solutions to California's power crisis.

???????????????????  The place and time of both meetings haven't been decided
yet.

???????????????????  Regarding Thursday's announcement, FERC Commissioner
Curt Hebert said  "rather
???????????????????  than waiting for Nov. 1 to release the findings of our
staff's investigation, I  urge the
???????????????????  chairman to release the completed report now...it can
only help heal the raw  emotions
???????????????????  rampant in the state of California."

???????????????????  FERC said it was rare that it would announce details of
its procedures.  The
???????????????????  commission said its own rules don't allow it to normally
announce its  procedures.

???????????????????  "Because of the need for expeditious action to address
the serious issues  affecting
???????????????????  California electric power markets and California
consumers...the commission is  taking
???????????????????  the unusual step of announcing in advance the procedures
it expects to follow  over the
???????????????????  coming weeks to move forward in these proceedings," the
FERC order  said.

???????????????????  The commission said it will give a three-week deadline
for parties to intervene  and to
???????????????????  comment on the possible solutions presented by the
commission.

???????????????????  FERC said it anticipates issuing an order by the end of
the year "adopting  and
???????????????????  directing remedies to promptly address to the extent
possible the identified  problems
???????????????????  adversely affecting competitive power markets in
California."

???????????????????  If necessary, FERC said it would hold additional
meetings to develop solutions  "to
???????????????????  other identified problems."

???????????????????  California's wholesale power prices soared this past
summer. Customers of  San
???????????????????  Diego Gas & Electric Co., a unit of Sempra Energy Corp.
(SRE, news, msgs),  paid
???????????????????  market-based rates for power, which resulted in
triple-digit utility bills for  its customers.
???????????????????  The state's three investor-owned utilities also racked
up billions of dollars in  debt due
???????????????????  to high wholesale costs.

???????????????????  SDG&E customers are currently paying a fixed rate for
their power, while  customers of
???????????????????  the state's other two utilities are still bound by a
rate-freeze.

???????????????????  Generators have been accused of gouging customers and
manipulating the  market,
???????????????????  although no evidence has been offered up yet. However,
the FERC investigation  may
???????????????????  address that.

???????????????????  -By Jason Leopold, Dow Jones Newswires; 323-658-3874;
???????????????????  jason.leopold@dowjones.com

Cal-ISO CEO To Announce Remedy To Lower Power
???????????????????  Cost
???????????????????  Friday, October 20, 2000 08:16 AM

???????????????????  (This article was originally published Thursday)

???????????????????  LOS ANGELES (Dow Jones)--California Independent System
Operator Chairman  and
???????????????????  Chief Executive Terry Winter will hold a news conference
Friday morning to  announce
???????????????????  a possible solution to reduce the state's electricity
costs.

???????????????????  An ISO spokesman wouldn't comment on the details of the
news  conference.

???????????????????  According to a news release, Winter will speak about
"potential vehicles for  containing
???????????????????  costs, while maintaining the ISO's high standards of
reliability."

???????????????????  The ISO controls about 75% of California's power grid
and real-time market.  As
???????????????????  already reported, the grid operator has come under fire
this summer for failing  to
???????????????????  immediately reduce a price cap in its real-time market.

???????????????????  Currently, state Sen. Steve Peace, D-Chula Vista, is
drafting legislation to  merge the
???????????????????  ISO and the state's Power Exchange.

???????????????????  -By Jason Leopold, Dow Jones Newswires; 323-658-3874;
???????????????????  jason.leopold@dowjones.com
???????????????????  Quote for referenced ticker symbols: EIX, PCG, SRE
???????????????????  , 2000 Dow Jones & Company, Inc. All Rights Reserved.


Reservation status has changed. Details of the reservation are listed below:
ASSIGNMENT_REF = 7568
SELLER_CODE = TEPC
SELLER_DUNS = 006902704
CUSTOMER_CODE = EPMI
CUSTOMER_DUNS = 848921276
AFFILIATE_FLAG = 0
PATH_NAME = W/TEP/COR500SVL345/CORONADO-SPRINGERVILLE
POINT_OF_RECEIPT = CORONADO500
POINT_OF_DELIVERY = SPRINGER345
SOURCE = SRP
SINK = EPE
CAPACITY = 0
CAPACITY_REQUESTED = 25
SERVICE_INCREMENT = HOURLY
TS_CLASS = NON-FIRM
TS_TYPE = POINT_TO_POINT
TS_PERIOD = ON_PEAK
TS_WINDOW = FIXED
TS_SUBCLASS = TRANS
NERC_CURTAILMENT_PRIORITY = Nerc Priority 1
OTHER_CURTAILMENT_PRIORITY = Default
START_TIME = 07/30/2001
STOP_TIME = 07/30/2001
CEILING_PRICE = 6.52
OFFER_PRICE = 3.00
BID_PRICE = 3.00
PRICE_UNITS = $/MWh
PRECONFIRMED = YES
ANC_SVC_LINK = N/A
ANC_SVC_REQ = N/A
POSTING_REF = 0
SALE_REF =
REQUEST_REF =
DEAL_REF =
NEGOTIATED_PRICE_FLAG =
STATUS = WITHDRAWN
STATUS_NOTIFICATION = BILL.WILLIAMS.III@ENRON.COM
STATUS_COMMENTS =
TIME_QUEUED = 07/30/2001

TIME_OF_LAST_UPDATE = 07/30/2001
PRIMARY_PROVIDER_COMMENTS =
SELLER_COMMENTS =
CUSTOMER_COMMENTS = BEGINNING HE 14PPT THRU HE 17PPT
SELLER_NAME = TEPC
SELLER_PHONE = (520)745-7193
SELLER_FAX = (520)571-4036
SELLER_EMAIL = ChrisD@TucsonElectric.com
CUSTOMER_NAME = Enron Power Marketing, Inc.
CUSTOMER_PHONE = (713)853-3801
CUSTOMER_FAX = (713)646-8272
CUSTOMER_EMAIL = bill.rust@enron.com
REASSIGNED_REF = 0
REASSIGNED_CAPACITY = 0


Sara,

Please take a look at these final versions of the Enron Corp cross currency
swaps, and let me know if you see any other changes to be made.  Brent should
have returned the deal tickets to you.  Thanks very much.


Please look at the financial legs of the following deals:
N40405
N35074
N36198
N21701
N28260
N33351
EX6959
NB4251

Thanks.  Call with any questions.
PL


Done

DG

	Kevin W Drachenberg
	08/03/2000 11:48 AM

To: Darron C Giron/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT
cc: Audrey Cook/HOU/ECT@ECT
Subject: March, 2000 (ENA Buy from Peoples for El Paso - Spot on Midwestern)

Have you had a chance to look at this adjustment to $.1134?  Sitara still
shows .0556.
I'd like to include this adjustment on the 7/00 invoice I'm sending out
tomorrow.
Please let me know when updated.
Thanks,
Kevin
x3-0560

---------------------- Forwarded by Kevin W Drachenberg/HOU/ECT on 08/03/2000
11:31 AM ---------------------------

Audrey Cook
07/19/2000 02:10 PM
To: Darron C Giron/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT
cc: Kevin W Drachenberg/HOU/ECT@ECT
Subject: March, 2000 (ENA Buy from Peoples for El Paso - Spot on Midwestern)

After reviewing the pipeline calculations, the pipeline commodity
reimbursement should be the following:

Commodity $.0594
Fuel  $.054 (Assuming GD Tenn/500 = $2.775 (Mar 15), and Tennessee Fuel % =
1.91%)
Total  $.1134

The commodity was adjusted to recover the Tennessee pipeline commodity costs
not Midwestern pipeline commodity ($.0594 vs. $.0016).  Let Kevin or myself
know if you have any questions.   Please let us know when this has been
completed.  Thanks.
ajc
---------------------- Forwarded by Audrey Cook/HOU/ECT on 07/19/2000 02:02
PM ---------------------------

Audrey Cook
03/16/2000 05:56 PM
To: Darron C Giron/HOU/ECT@ECT
cc:
Subject: March, 2000 (ENA Buy from Peoples for El Paso - Spot on Midwestern)

Darron,
Please update Sitara #127427 for the fuel for 3/15/2000:

Commodity $.0016
Fuel  $.054 (Assuming GD Tenn/500 = $2.775 (Mar 15), and Tennessee Fuel % =
1.91%)
Total  $.0556

Please let me know when this has been completed so I can redraft.

Thanks a bunch,
ajc


Can both of you forward the telluride pictures to me so I can get them
developed?

Dad - they reside in the "my documents" folder under the "my pictures"
heading.

Thanks,

Eric


It means that the quoted price will include the cost of insurance and freight
 -----Original Message-----
From: 	Singh, Vikram
Sent:	Thursday, August 30, 2001 10:34 AM
To:	Causholli, Monika
Subject:	RE:

Cost, Insurance, Freight...

 -----Original Message-----
From: 	Causholli, Monika
Sent:	Thursday, August 30, 2001 10:32 AM
To:	Singh, Vikram
Subject:

Do you know what CIF stands for? It's a transportation term....


Can I attend tomorrow and pay at the door?  I did not make reservations?


no.  waiting for a rally to sell.  if dont get one will stay out.

 -----Original Message-----
From: 	Fraser, Jennifer
Sent:	Wednesday, October 03, 2001 10:37 AM
To:	Arnold, John
Subject:	do you have a wti position?

 -----Original Message-----
From: 	Arnold, John
Sent:	Wednesday, October 03, 2001 4:31 PM
To:	Fraser, Jennifer
Subject:	RE: rocking the free world

me thinks people are trading the headline and not the story

 -----Original Message-----
From: 	Fraser, Jennifer
Sent:	Wednesday, October 03, 2001 8:47 AM
To:	Arnold, John
Subject:	rocking the free world

ene and ng...wow


one was in with prebon - 572999 - it's been changed to apb

Kerri Thompson@ENRON
04/06/2001 01:24 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: apb checkout

572988, jeff r

broker shows this deal twice.

thanks


thanks for the update.  be sure and get on my calendar when you are in town.
Call Brent Price (our CAO) at 713 853 7647 for additional help on Mtm.  He is
very good.

Good luck,
m


-----Original Message-----
From: Kuykendall, Tori
Sent: Friday, October 12, 2001 9:33 AM
To: Sanchez, Monique; Grigsby, Mike; Lenhart, Matthew; Reitmeyer, Jay;
Evans, Ted; Lisk, Daniel
Subject: FW: Afghanistan's Fall TV Line-up

-----Original Message-----
From: Diane_Hoyuela@Foleys.com [mailto:Diane_Hoyuela@Foleys.com]
Sent: Friday, October 12, 2001 9:30 AM
To: marcgarcia@earthlink.com; Hamm Laura; terra.henderson@accenture.com;
Jenny-Popps; Kuykendall, Tori; Nicole L Pritula; Kristine Salazar;
Robert Sprout; Tom-Noble; dav4@oag.state.tx.us; i00bww@fds.com;
Cathy_Morse@Foleys.com; Jindy_Lan@Foleys.com; Doug_Tiffan@Foleys.com;
Julie_Schwalen@Foleys.com; Christina_OFarrell@Foleys.com;
Jennifer_Taylor@Foleys.com; Julie_Puccio@Foleys.com;
slawren1@jcpenney.com; Vkeuhler@academy.com
Subject: Fw: Afghanistan's Fall TV Line-up

---------------------- Forwarded by Diane Hoyuela/FO/MAYCO on 10/12/2001
09:24 AM ---------------------------

From: "Kristy Hoyuela" <khoyuela@rice.edu> on 10/11/2001 10:50 PM

To:   <Diane_Hoyuela@Foleys.com>
cc:

Subject:  Fw: Afghanistan's Fall TV Line-up

----- Original Message -----
From: "Elizabeth Anderson" <longhornliz@mail.utexas.edu>
To: "Deana" <UTde@mail.utexas.edu>; "Bex" <Kristin_Bexley@baylor.edu>;
"C.J.
Hull" <cjedi00@hotmail.com>; "Kellis" <Kellisface@aol.com>; "Kilgore"
<Jennifer_Kilgore@baylor.edu>; "Dani" <Danibaby@mail.utexas.edu>; "Keller"
<cheshire_kjk@hotmail.com>; "Jenny Rod" <Jenny_rodriguez@baylor.edu>;
"Stephen Lecholop" <skl24@mail.utexas.edu>; "Doug"
<DRussell@mail.utexas.edu>; "Ashley Rosenthall" <prettyrusse@yahoo.com>;
"Brandi Jones" <bjones@mail.utexas.edu>; "Kristy Hoyuela"
<KHoyuela@rice.edu>
Sent: Thursday, October 11, 2001 3:20 PM
Subject: Fw: Afghanistan's Fall TV Line-up

>
>  Afghanistan's Fall TV Line-up
>
>
>  MONDAYS: 8:00 - "Husseinfeld" 8:30 - "Mad About Everything" 9:00 -
> "Suddenly Sanctions" 9:30 - "The Brian Benben Bin Laden Show" 10:00 -
> "Allah McBeal"
>  TUESDAYS: 8:00 - "Wheel of Terror and Fortune" 8:30 - "The Price is
> Right If Usama Says Its Right" 9:00 - "Children Are Forbidden From Saying
> The Darndest Things" 9:30 - "Afganistans Wackiest Public Execution
Bloopers"
> 10:00 - "Buffy The Yankee Imperialist Dog Slayer"
>  WEDNESDAYS: 8:00 - "U.S. Military Secrets Revealed" 8:30 - "When
> Northern Alliance Attack" 9:00 - "Two Guys, a Girl, and a Pita Bread"
9:30 -
> "Just Shoot Everyone" 10:00 - "Veilwatch"
> THURSDAYS: 8:00 - "Matima Loves Chachi" 8:30 - "M*U*S*T*A*S*H"
> 9:00 -"Veronicas Closet Full of Long, Black, Shapeless Dresses and Veils"
> 9:30 -"My Two Baghdads" 10:00 - "Diagnosis: Heresy"
> FRIDAYS: 8:00 - "Judge Laden" 8:30 - "Funniest Super 8 Home Movies"
> 9:00-"Captured Northern Alliance Rebels Say the Darndest Things" 9:30 -
> "Achmeds Creek" 10:00 - "No-witness News"
>
>


Ah, these wonderful new systems!  I submitted an order on the "new" IBuyit
site and sent it for approval and it went to every manager in our group!

I called them and told them that only you were the approver and they do not
even have a user ID set up for you.  Please fill out the below security document
and I will forward it on to them.

Thanks!

Shirley

---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 04/16/2001 03:26 PM ---------------------------
From:	Michael Loft/ENRON@enronXgate on 04/16/2001 03:18 PM
To:	Shirley Crenshaw/HOU/ECT@ECT
cc:
Subject:	iBuyit approvers

Hi Shirley

In processing your iBuyit approval change request, I discovered that Vince Kaminski has not been set up with a user ID in the eProcurement system.  Please have him fill out the attached security form and send it to -- SAP Security@enron.com

I have already selected the Approver role on the second page.  We just need the personal information on page one filled out for security purposes.  Once this is done we can get Vince assigned as the approver for cost center 107043.

Thanks,
Michael


Hi Vince!

Please let me know if University Affairs cana ssist in setting up interviews
to address the EES issues raised by Maheshram.  I'm at Beaver Creek in
Colorado now, and will be in California making  presentations of various
cases for completeing my PhD course work Jan 3-4. back in Houston on the
5th.  If anything needs to get arranged on this before then, please feel free
to call Mike Rosen at 3-9624.  He will be happy to help.

Thanks Vince!

May your New Year be filled with peace-of-mind, good health and many joys!
See you there!

Best regards!  --Christie.
---------------------- Forwarded by Christie Patrick/HOU/ECT on 12/29/2000
12:23 AM ---------------------------

"Vittal, Maheshram" <mvittal@wharton.upenn.edu> on 12/26/2000 10:59:38 AM
To: "'Vince.J.Kaminski@enron.com'" <Vince.J.Kaminski@enron.com>
cc: "'Christie.Patrick@enron.com '" <Christie.Patrick@enron.com>
Subject: RE: Houston Trip

Dear Vince / Christie,

Thanks for coming to Philadelphia to present an overview of the projects. We
enjoyed meeting you and your colleagues and look forward to working with
Enron.  I would also like to pass on my team's appreciation for the dinner as
well.

We wanted to give you an update on our project and get some feedback and
additional information prior to our upcoming visit to Houston on January
19th. Our project is going to be geared to the 3rd option you mentioned.  We
plan on addressing some part of the Retail Energy Services business.  We are
considering two options regarding this topic and would like to pursue either
(i)how customers are acquired and recommending new processes and ways to
serve retail customers, OR
(ii) studying the supply chain and coming up with recommendations for areas
for further investments.

However, we would like to get some more information on the Retail Energy
Services before truly scoping the project.  We are also very open to
suggestions, especially if you had a much broader or different scope in mind;
so please let us know.

We have not yet reviewed the introductory information received last week, but
here are the questions we have specific to the Retail Energy Services unit:

Can we look at its overall business plan or a more detailed summary than is
in the annual report?
What is the pricing philosophy/overall structure?
Who are the customers and how are they acquired?
What would the customers be doing if they did not work with Enron?
What are the international expansion plans and capabilities?
Is there any important regulatory summary information we can have?

If this information is not already covered in the review material you sent,
will you be able recommend other sources where we may find such information?

After we have reviewed the material sent to us recently, we may want to
schedule a phone call with you and/or one of your colleagues directly
involved in the Retail Energy Services business.  I would like to call you in
the new year to discuss this further.  In the meantime, please feel free to
call me at (215) 546-9416 if you need any information.

Regards,
Retail Energy Services Tiger Team
Ram
Dennis
Jason
Omar
Steve
Clay


Ken, this is Pat Koenig.  I just wanted to send you a quick email and let you
know you have my admiration and support ( I know it isn't much).  You have
made Enron a great company, and no matter how bad the press gets I will
always be proud to say my husband works for Enron and he works for the best,
Ken Lay.    Pat


John Campbell, National Sales Rep for EES in NY, wants to talk with you
before you place the call to Verizon's Chairman.  John is expecting your call
and is gathering the details about the meeting with Governor Davis.

John is in NY at 212-702-3905

(Maureen also has this info).


Ideally, we'd leave earlier--gotta go to Napa to pick up the Suburban, Annie,
etc.---but otherwise, let's try to leave as close to 9 pm as possible.

Best,
Jeff


Attached is a revised Credit Watch listing for the week of 3/5/01.  Please
note that PG&E Energy Trading-Gas Corp. is back on the Watchlist for "NO
TRADES".
If there are any personnel in your group that were not included in this
distribution, please insure that they receive a copy of this report.
To add additional people to this distribution, or if this report has been
sent to you in error, please contact Veronica Espinoza at x6-6002.
For other questions, please contact Bill Bradford at x3-3831, Russell Diamond
at x5-7095, or Brant Reves at x3-9897.


Many thanks.  Your copy works like a charm.  I'll be more diligent in my archive search next time.

 -----Original Message-----
From: 	Prof Brian Ripley <ripley@stats.ox.ac.uk>@ENRON
Sent:	Tuesday, January 22, 2002 11:57 AM
To:	Richey, Cooper
Subject:	Re: [R] problems using lattice on windows (not the blank first page problem)

Search the list archives, for this is an FAQ.

Hint: the copy of R.1.4.0 on CRAN compiled for Windows does not work
correctly with grid or lattice.  So either compile it yourself, or
get the copy announced by me about Dec 20.

On Tue, 22 Jan 2002, Richey, Cooper wrote:

> All:
>
> I'm attempting to use lattice on windows 2000 under R 1.4.
>
> Rgui and Rterm crash when I invoke "xyplot" or "trellis.device" commands (including the oft-used "quakes" example)
>
> In particular, I get a message box from the windows OS with the following text:
> --------------------------------------------------------------------
> Rgui.exe has generated errors and will be closed by Windows.
> You will need to restart the program.
>
> An error log is being generated
> --------------------------------------------------------------------
>
> this seems to happen right after the graphics window is spawned.
>
> I'm using lattice version 0.4-0 and grid version 0.5
>
> am I missing some sort of prep work for lattice graphics?
>
> thanks any help,
> Cooper
>
>
>
>
>
> **********************************************************************
> 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.
> **********************************************************************
>
> -.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-.-
> r-help mailing list -- Read http://www.ci.tuwien.ac.at/~hornik/R/R-FAQ.html
> Send "info", "help", or "[un]subscribe"
> (in the "body", not the subject !)  To: r-help-request@stat.math.ethz.ch
> _._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._._
>

--
Brian D. Ripley,                  ripley@stats.ox.ac.uk
Professor of Applied Statistics,  http://www.stats.ox.ac.uk/~ripley/
University of Oxford,             Tel:  +44 1865 272861 (self)
1 South Parks Road,                     +44 1865 272860 (secr)
Oxford OX1 3TG, UK                Fax:  +44 1865 272595


Hi Jon,

Thinking of you and thought I'd try out your new e-mail address.  Hope you are having a good day.It snowed again last night, but is suppose to warm up a bit today. Dad got home late last night from Vancouver.  He said it was very nice there.

I forgot to tell you and Beth last time we talked that the pointsettia you gave Dad when he was in hospital at Christmas is still doing well,  The other ones I had are long gone.  Just thought you should know that it probably pays to spend the buck on them as it must mean they are better cared for during growth.  Also, did you ever call Grandpa and what did he have to say?  I talked to him briefly last night but didn't want to ask if you had talked to him in case you hadn't.  He asked about you though and was of course pleased to hear you were working.  He has a very sore throat so I didn't talk very long.

Okay I don't want to take up too much of your time.  Love you.

Mum


Attached is a revised draft of the draft memo I sent out last night regarding internet use.  I'd appreciate your comments.

--Lizzette


I just opened it.  It came in last night.


---------------------- Forwarded by Daren J Farmer/HOU/ECT on 10/19/2000
04:34 PM ---------------------------

	Enron North America Corp.

	From:  Steve Venturatos                           10/19/2000 02:45 PM

To: Jody Crook/Corp/Enron@ENRON, Michael Walters/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Denver Plachy/NA/Enron@Enron, O'Neal D
Winfree/HOU/ECT@ECT, Patrick Ryder/NA/Enron@Enron, Eric Bass/HOU/ECT@ECT,
Daren J Farmer/HOU/ECT@ECT, Yvette G Connevey/Corp/Enron@ENRON
cc:
Subject: Gorons

Thought y'all might find this amusing.
---------------------- Forwarded by Steve Venturatos/HOU/ECT on 10/19/2000
02:45 PM ---------------------------

	From:  Kelly Lombardi @ ENRON                           10/17/2000 06:34 PM

To: Cyndie Balfour-Flanagan/Corp/Enron@ENRON, Steve Venturatos/HOU/ECT@ECT
cc:
Subject: Gorons

Don't know who you're voting for, but here some things you might want to
consider-

What is a Goron

   1. Gorons sincerely believe that Vice President Gore is a true
environmentalist, when he has an environmental disaster on his own farm:
a polluting zinc mine, from which he received $500,000 of income last
year.

   2. Gorons likewise believe that the VP is antismoking and anti-tobacco
when  he has operated a tobacco farm for decades and accepted government
subsidies.

   3. Gorons truly believe that Gore is a Vietnam war hero, when in fact
he was  placed by family influence in a "cushy"  correspondent's job and
the only  action he saw was that of his Brownie camera! (and his bong)

   4. Gorons actually believe that Mr. Gore is justified in illegally
raising political funds from the Office of the VP, simply because the
Vanderbilt Law  educated VP claims he was ignorant of the illegality.

   5. Gorons further believe that it was OK for Al to accept large sums
of political money from China through Buddhist monks who had taken vows
of poverty, since he again claimed ignorance.

   6. Gorons also believe that the man who claimed to "invent the
Internet" would be so computationally ignorant that he could lose weeks
of potentially  incriminating e-mail!

   7. Gorons, incredibly, believe Gore's claim that he and Tipper were
the models for the book and movie, "Love Story" even though the book's
author,  Erich Segal, says not.

   8. Gorons, amazingly, believe that Gore will be the consumer's
champion against high gasoline prices although Gore holds a million
dollars in Occidental Petroleum stock.

   9. Gorons applaud Mr. Lieberman's open rejection of President
Clinton's immorality, but believe it was fine for Mr. Gore to remain
silent on the subject, while simultaneously declaring Mr. Clinton "one of
the greatest Presidents of our history."

   10. Gorons believe that Al Gore is an effective leader, when they
won't bother to look at his record as a Tennessee Senator, a record so
ineffective  that it has led to the election of Republicans as BOTH of
Tennessee's  Senators!

   11.  Gorons hold the belief that Gore is a compassionate man who will
be the working man's friend, in spite of the eviction notice he served
to the poor family who complained about the conditions of the run down
slum  house that he was renting to them.

   CAUTIONARY NOTE: Medical researchers acknowledge that Gorons are
generally harmless, except when allowed into a voting booth. There,
unfortunately, overcome by their gullibility syndrome, they are apt to
actually vote for Gore! They should be carefully protected from their
ailment, since it may be  harmful to their well-being, yours, mine and
that of the USA.

   Therefore, PLEASE, heed the Surgeon General's warning, reach out to
aid the Gorons in overcoming the syndrome, and,  PLEASE, pass this on to
your normal  friends, who might also know Gorons who need immediate
treatment.


---------------------- Forwarded by Tana Jones/HOU/ECT on 01/10/2000 05:02 PM
---------------------------

	Enron North America Corp.

	From:  Tana Jones                           01/10/2000 03:45 PM

To: Lucy Ortiz/HOU/ECT@ECT
cc: Bob Bowen/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
Subject: Re: Weather CP?

Williams Energy Marketing & Trading Company shouldn't be a problem for
weather transactions.  The Master Agreement we have in place with them is an
ISDA Local Currency.  The only thing we need to cover is in the confirmation
adding the trade option rep for weather, since weather wasn't covered way
back then.  Otherwise, they are already approved for all products for online
trading.  Since the master is a Local Currency form, we might run into some
problems if they wanted to trade non-u.s based products, or use any other
currency other than U.S. $$.  If either of those issues come up, let me know.


Good Morning,

Just a reminder to get your AGA estimates in by Noon EST (11:00 CST).

Last Year      +71
Last Week      +63

Thank You,
Daryl Dworkin
BNP PARIBAS Commodity Futures, Inc.

_____________________________________________________________________________________________________________________________________

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The insurance company is:

Central Insurance Agency, Inc
6000 N., Lamar
P.O. Box 15427
Austin, TX 78761-5427

Policy #CBI420478

Contact:  Jeanette Peterson

(512)451-6551

The actual policy is signed by Vista Insurance Partners.

Please try and schedule the appraiser for sometime after 1 p.m. so my Dad can
walk him around.

I will be out of town on Tuesday.  What else do we need to get done before
closing?

Phillip


Stinson,

Any interest?

Vince

---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/11/2001
04:49 PM ---------------------------

"Joan Williams" <williamj@rice.edu> (by way of Kathy Spradling <spradlin on
04/11/2001 04:29:45 PM
To: (Recipient list suppressed)
cc:
Subject: Finance Club: e-trading and Fixed Income Markets Workshop

As faculty advisor to the Finance Club, Prof. Barb Ostdeik is encouraging
all members to take advantage of a great opportunity to learn more about
trading operations from two very respected individuals in the industry.
Keith Anderson of BlackRock, Inc (JGSM 1983) and Dexter Senft of Lehman
Brothers & TradeWeb LLC (Rice 1974) have visited the Jones School to give
this lecture and students have raved about them. Albert Wang's Fixed Income
and Advanced Investments classes are required to attend, and James Weston
recommends for his Applied Finance students and any first years taking
Investments next year to be there.

When:
9:45 a.m. d 11:15 a.m.
Wednesday
April 18

Where:
Room 117
Herring Hall

Presentation/Discussion Topics:
Trading Tactics d phone trades vs. electronic trading
Evolution of e-trading in fixed income markets
The future of the trading desk
Buy-side vs. Sell-side issues

Speaker Profiles:

Keith Anderson, Managing Director and Chief Investment Officer, Fixed Income
of BlackRock, Inc., is co-head of the Fixed Income Operating Committee,
Chairman of the Investment Strategy Group and a member of BlackRock,s
Management Committee.   Mr. Anderson is responsible for global fixed income
strategy, asset allocation and the overall management of client portfolios.
He coordinates a team of thirty-two portfolio managers and more than
twenty-five credit and quantitative analysts.

Mr. Anderson is a member of the Treasury Borrowing Advisory Committee, which
meets quarterly in Washington, D.C. with the Secretary and Staff of the U.S.
Treasury to advise them on the financing and management of the Federal debt.

Prior to founding BlackRock in 1988, Mr. Anderson was a Vice President in
Fixed Income Research at The First Boston Corporation, working in mortgage
securities and derivative products strategies.  Mr. Anderson with Criterion
Investment Management Company where he had primary responsibility for a $2.8
billion fixed income portfolio.

Mr. Anderson has authored numerous articles on fixed income strategies,
including two articles in The Handbook of Fixed Income Options: "Scenario
Analysis and the Use of Options in Total Return Portfolio Management" and
"Measuring, Interpreting, and Applying Volatility within the Fixed Income
Market".

Dexter Senft is a Managing Director with global responsibility for Fixed
Income electronic commerce for Lehman Brothers. During his eight years at
the firm, he has also managed or co-managed Lehman,s Fixed Income Research,
Quantitative Research, Counterparty Credit and Global Economics departments.

Mr. Senft is the former Chairman of TradeWeb LLC, a consortium-owned
electronic bond trading system whose volume currently averages over $10
billion per day, and of which Lehman Brothers is a founding shareholder. He
remains on TradeWeb,s Board, and chairs TradeWeb,s trading protocol
committee, which oversees the rules that govern the electronic flow of
information within the system.

Mr. Senft also serves on the Bond Market Association,s Committee for
Alternative Trading Systems, as well as its Online Bond Steering Committee
and he chairs the subcommittee on e-commerce protocols and standards.

Prior to EJV, Mr. Senft spent 17 years at The First Boston Corporation (now
part of CS First Boston), where he was a Managing Director and head of Fixed
Income Research and Product Development. He is a widely published author of
articles on mortgage securities, fixed income derivatives, and quantitative
portfolio management, and his work continues to be among the readings for
CFA applicants. In 1983, Mr. Senft led the product team that created the
first CMO for Freddie Mac.

This is regarding the e-trading/bond market session
arranged for April 18.  As part of the 1st year finance elective, you may
have already been informed by James Weston (Were you?) but I need to get
the info out to more 2nd years as well.

Do you usually send out your speaker announcements to all faculty,
students, and staff?

Albert Wang's Fixed Income and Advanced Investments classes are required to
come and James Weston will be encouraging 1st years that took the finance
elective to come.

These guys are pretty good - they came a few years back.

Thanks.

bbo


----- Forwarded by Tana Jones/HOU/ECT on 03/21/2001 09:22 AM -----

	Walter Guidroz/ENRON@enronXgate
	03/20/2001 05:30 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global Contracts and Facilities@ENRON, Enron Europe Global
CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tom
Moran/ENRON@enronXgate, Claudia Clark/HOU/ECT@ECT, William S
Bradford/ENRON@enronXgate, Lisa Lees/HOU/ECT@ECT, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ENRON, Bernice Rodriguez/HOU/ECT@ECT, Bill D
Hare/HOU/ECT@ect, Amy Heffernan/Enron Communications@Enron Communications,
Molly LaFuze/Enron Communications@Enron Communications, Danny Clark/Enron
Communications@Enron Communications
		 cc:
		 Subject: EOL approvals, 3-20-01

Please see attached.


There are two David Dupres at Enron.  Please insure that you are sending these to correct one.

 -----Original Message-----
From: 	Richards, Andrea
Sent:	Thursday, May 24, 2001 4:25 PM
To:	Anai, Rousseau; Leung, Steven; Luu, Diana; Mcquade, Jennifer; Morris, Jeremy; Rosa, Robert; Salisbury, Holden; Williams, Willie; Ahmed, Ali; Anderson, Jonathan; Andrews, Travis; Bakondy, James; Baldwin, Tom; Benjelloun, Hicham; Blackburn, Nate; Breen, Erika; Burk, Bart; Cardenas, Catalina; Causholli, Monika; Chavez, Gabriel; Coffing, Timothy; Day, Justin; Donaldson, Ivan; Dupre, David; Enochian, Sam; Eriksson, Fredrik; Escueta, Tricia; Gandhi, Sachin; Gautam, Millie; Gelin, Elberg; Gonzalez, Gabriel; Gross, Michelle; Guggenheim, Victor; Guilmino, Brad; Ha, Amie; Hernandez, Ana Maria; Hill, Veronica; Iyengar, Rachana; Jefferson, Shereka; Johnson, Heather A.; Johnston, Elizabeth; Jones, Brad; Junus, David; Justice, Gary; Kang, Daniel; Kendall, Heath; Kim, Grace; Koenig, Colleen; Kolle, Brian; Koskas, Ethel; Kulic, Sladana-Anna; Lo, Jeremy; Mahajan, Ashish; Marks, James; McClain, Jennifer; Merchant, Lane; Miller, Shaleen; Mujica, Mitra; Mujumdar, Ravi; Nash, Clifford; Nekrasova, Irina; Nelson, Kourtney; Oh, Jeffrey; O'Rourke, Ryan; Parent, Alli; Pathak, Neeran; Patton, Stacy; Pehlivanova, Biliana; Pereira, Hans Oliver; Perinne, Albane; Piazze, Tara; Pielop, Jonathon; Pinckney, Terrance; Piotrowski, Joseph; Quinn, Kristin; Rance, Susan; Rank, Sabina; Rehman, Shiraz; Renaud, Lindsay; Rohmer, Gisselle; Saenz, Angela; Schultz, Amanda; Seksaria, Rahul; Shupe, Jacob; Siegel, Adam; Smith, Reginald; Solberg, Geir; Soykok, Gulay; Sprott, Kendell; Steinbrueck, Brian; Stewart, Jennifer N.; Swanson, Blake; Taylor, Sarah; Tefel, Maria; Terhune, Kendra; Thakkar, Ami; Thibodeaux, Ryan; Velez, Luis; Walker, Rebecca; Ward, Peter; Watts, Christopher; Weaver, Sara; Worthing, Ashley; Wussow, Christy; Almy, Matthew; Alviar, Hector; Berry, Philip; Bryce, Samantha; Bucalo, Harry; Bui, Hang; Cavazos, Brandon; Chenoweth, Christopher; Chunchu, Shilpa; Cohen, Brian; Davidson, Julie; Dawson, Jeremy; Deane, Ryan; Dolezal, Regan; Driscoll, Sarah; Duong, Duc; Edmonds, Marcus; El-Azzi, Zeina; Estrada, Israel; Ferrara, Julie; Fortunov, Gallin; Freeman, Ben; Guo, Jin; Hall, Kreg; Hamlin, Mason; Harvey, Damon; Hatten, Micah; Hausinger, Sharon; Hernandez, Alejandro; Hinze, Ryan; Hirsh, Steve; Hoff, Jonathan; Huizer, Christiaan; Hull, Bryan; Jain, Avinash; Khandker, Dayem; Lalji, Farouk; Lang, John; Mallory, Chris; Martinsen, Aaron; Marye, David; Mauritzen, Brad; McCarroll, Zachary; Milliner, Christine; Monroy, Gabriel; Montana, Henry; Olsen, Michael; O'Malley, Justin; Ospina, Felipe; Paipanandiker, Chetan; Pak, Samuel; Patel, Adnan; Patel, Sanjay; Patel, Sheetal; Pham, Binh; Roman, Ace; Segura, Stephanie; Sexton, Anthony; Sidler, Shirley; Sonesson, Martin; Stephens, Leah; St. John, William; Surface, Jerald; Synnott, Ryan; TAYLOR, JAMES; Thomas, George; Thomason, Benjamin; Thrasher, Jodi; To, Cindi; Trejo, Mauricio; Weakly, John; Willis, Erin; Wininger, James; Woolcock, Adrian; Wu, Allan; Benitez, Gerardo; Benke, Shelia; Carlson, Tobin; Chen, Will; COWAN, SUE; Crook, Jody; Day, Misti; Driscoll, Michael M.; Falcone, Daniel; Foley, Neithard; Francis, Marsha; Herrmann, Karen; Hospeti, Savithri; Hunker, David; Hyde, Crystal; Khleif, Samar; King, Melanie; Kolman, Michael; Landry, Chad; La rose, Simone; Lin, Homer; Patel, Purvi; Rodrigue, Robin; Rostant, Justin; Roumel, Jonathan; Saubier, Sebastien; Schlesinger, Lauren; Schultz, Ethan; Simmons, Michael; Snyder, Jeffrey; Spruiell, Michael; Thompson, Justyn; Vegalara, Mateo; Whitehead, James; Winfrey, Travis; Yzquierdo, Raul; Zadorozhny, Roman; Ashby, Kevin; Bennett, Peter; Gillette, Lisa; Huang, Ted; Jaisinghani, Priya; Jantz, Chris; Jeanmard, Petual; Scott, Susan M.; Thompkins, Jason; Jackson, Alton; Zhu, Lena
Cc:	Kinneman, Jeff; Fraser, Bridget; Giovannini, Jana; Bland Jr., Ted C.
Subject:	ORIGINATION ROTATION OPPORTUNITY IN NEW YORK

ATTENTION ANALYSTS

ORIGINATION ROTATION OPPORTUNITY IN NEW YORK

Enron Credit provides credit risk mitigation solutions to corporations and other financial institutions.  We provide information on the "cost-of-credit" and pricing for 10,000 reference names on enroncredit.com to provide corporations with information required to make smart decisions about extending credit.  We also participate as one of the larger liquidity providers in the inter-bank Credit Derivative Swap market with live pricing available on ENRONONLINE.  Enron Credit has around 70 staff members and is based in London, Houston and a new office in Tokyo and is looking to grow strongly in the future.

Analyst will support 3 Originators in New York

The job would entail:
?	doing background analysis on industry sectors and companies in order to  target corporations/industry sectors for origination opportunities
?	creating power point presentations and compiling background material on targeted clients
?	tracking client correspondence
?	working on pricing and transactions
?	collating market information on pricing
?	some marketing/pricing

Requirements are:
?	understanding of financial statements
?	understanding of credit and financial analysis
?	understanding of derivatives
?	innovative and interested in finding new business opportunities
?	extremely motivated with initiative
?	keen to live in NY

If you are interested in this rotation, please send your updated resume to:
Bridget Fraser	(hiring manager)		212-715-5256
Jeff Kinneman (VP)				713-853-5398
Or
Andrea Richards (Career Development)	713-853-6499


Dan,  The only other thing I can think of is taking a security interest in
the assets we are financing, if we are concerned about these guys being a
credit risk.  We did this with the MTG deal.  I have a form of mortgage
agreement which works with this type of deal.  I would guess credit needs to
make that call.  Let me know if you want the form.

	Enron North America Corp.

	From:  Dan J Hyvl                           12/15/99 04:26 PM

To: Dan J Bump/DEN/ECT@Enron
cc: Gerald Nemec/HOU/ECT@ECT
Subject: Quantum Gathering Agreement

Dan,
 Please check the revised agreement to see that I have included all that is
necessary.  Since Quantum is doing the work for themselves, I did not include
the Construction Agreement.  Please call if you have any questions.  I will
forward to Gerald to see if he thinks I need to include any other items.


Attached is a clean copy of the City of Austin Turbine Agreement
(second document below), as well as a blacline (first document below)
showing changes made to the version that went to GE on February 12. This
draft includes both Lee's and Eric's changes to Exhibit A, as well as
the addition of the contacts for notices in Sections 25.1 and 25.3.  It
also contains a few minor clean-up items identified by Lisa Bills when
she reviewed LV Cogen (e.g., the definitions of Performance Test
Certificate and Performance Test Completion Certificate were out of
order). to complete the agreement, we will need to include the date of
execution and Exhibit H-2.
 <<City of Austin Gas Turbine Agt - v. 5 to v. 7.DOC>>  <<City of Austin
Gas Turbine Agreement Draft No. 7.DOC>>
 - City of Austin Gas Turbine Agt - v. 5 to v. 7.DOC
 - City of Austin Gas Turbine Agreement Draft No. 7.DOC


ECT Investments, Inc. ("ECTI") entered into a 5-YEAR credit derivative with
Deutsche Bank ("DB") effective 7/19/00 with a Scheduled Termination Date of
7/19/05 (Loews Corporation is the reference credit).  DB is requiring an
Enron Corp. guaranty.  There is no mention of guaranty terms.  [NOTE THAT IN
A SIMILAR DEAL 3/13/00 BASED UPON THE REPUBLIC OF INDONESIA  BETWEEN THE
PARTIES, NO GUARANTY WAS REQUESTED].

Should  ECTI post the guaranty?  Do we want a Master ISDA?

Please let me know.  Thanks.  Sara


Pablo:
Thanks.  We really need to finalize everything by mid-week as the online
folks are planning their roll-out at the end of this week.  Please do
whatever you can to have something final for us in the nexy day or two as I
cannot hold them off any lomger.  In the amentime, I will take a look at
this.

Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	"Pablo Perezalonso" <pperezalonso@rhm.com.mx>
	07/07/2000 08:52 PM

		 To: carol.St.Clair@enron.com
		 cc:
		 Subject: questionnaire on Internet trading on commodities.DOC

  Attached please find an initial draft of the questionaire. We are still
working on it and we will send a revised draft next week.

Regards

Pablo Perezalonso Egu?a
Ritch, Heather y Mueller, S.C.
pperezalonso@rhm.com.mx
tel: (52) 5-2076533

 - questionnaire on Internet trading on commodities.DOC


I'm on a conf. call with Minnegasco from 8-10 Friday.  Please go forward
without me and I'll circle back in later.  My view is that we need to look
hard at a second expansion project, maybe jointly with Questar or someone
else (Mojave?) that goes all the way to the market.  We may be semi-serious
about the within-Cal. portion of the project, but it would be great potential
leverage against the utilities and CPUC.  df

Jeffery Fawcett
02/15/2001 09:09 AM
To: Julie Armstrong/Corp/Enron@ENRON
cc: Drew Fossum/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Jeff
Dasovich/NA/Enron@Enron

Subject: Time with Danny

I'm OK with 8 o'clock, but the gang may have to put up with cell phone static
and the occassional peeps out of my kids in the back seat (I'm off tomorrow
and will be packing the kids up to head out about 7:45 a.m.).

From: Jeff Dasovich on 02/15/2001 09:03 AM
Sent by: Jeff Dasovich
To: Julie Armstrong/Corp/Enron@ENRON
cc: Drew Fossum/ET&S/Enron@ENRON, Jeffery Fawcett/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON

Subject: Re: Time with Danny

Greetings folks:
I have a meeting from 9-1 tomorrow that I must attend.  Any chance of doing
at 8 am.  Apologies for the conflict.
Jeff

	Julie Armstrong
	02/15/2001 08:55 AM

		 To: Jeffery Fawcett/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron
		 cc:
		 Subject: Re: Time with Danny

I have scheduled 9:30 Friday for a meeting with Danny.  The video conference
rooms were booked.  How about having the meeting in Danny's office and we
conference in Drew?  Please advise.

Jeffery Fawcett
02/14/2001 04:57 PM
To: Julie Armstrong/Corp/Enron@ENRON
cc:

Subject: Time with Danny

Julie,
We had a great idea (but poor execution) to get together with Danny this
morning.  Even though I'm going to be out on Friday, if Danny is available,
could you block off about 30 minutes in the a.m. for Drew, Susan, Jeff
Dasovich and myself to run an idea past him?  If Danny asks, let him know
we're trying to weigh the merits of filing to build an expansion into the
state of California.  Whether we ultimately build it or not isn't the issue
as much as whether the threat of another pipeline could motivate the
utilities and the CPUC to build additonal take-away capacity for TW
shippers.  I think Steve Harris is out of town for the rest of the week.  If
not, we'll certainly want to plug him in also.  Will you let me know in the
a.m.?  Thanks.


Please add Judy Townsend to the CQG Digital group.

Thanks,

Julie Pechersky
Market Data
x39225

 -----Original Message-----
From: 	Townsend, Judy
Sent:	Tuesday, February 05, 2002 11:41 AM
To:	Pechersky, Julie
Subject:	RE: CQG

It is not under Business Application....can't find it.

Judy

 -----Original Message-----
From: 	Pechersky, Julie
Sent:	Tuesday, February 05, 2002 11:08 AM
To:	Townsend, Judy
Subject:	RE: CQG

It should be under Business Applications...is it not there?

Julie

 -----Original Message-----
From: 	Townsend, Judy
Sent:	Wednesday, January 30, 2002 11:02 AM
To:	Pechersky, Julie
Subject:	RE: CQG

Julie,
I can not find the CQG application, but I still need it.
Thanks.

Judy

 -----Original Message-----
From: 	Pechersky, Julie
Sent:	Friday, January 18, 2002 4:04 PM
To:	Townsend, Judy
Subject:	CQG

Judy,
Could you let me know if you are still using the CQG application?

Thanks,
Julie Pechersky
Market Data
x39225


Stinson,

Please find attached a revised version of the draft Consulting Agreement with
Henwood.  FYI, I am attaching both a clean version and one marked toshow
changes from the last draft I sent you.  Please let me know if you have any
questions or comments on the agreement or the most recent changes.

WHat is the status of Henwood?  Do you still want to engage them and what is
the timeframe for their work (the dates in the draft may need to be
corrected).

Bruce and Lauren:  please advise on which Enron entity should be the party to
this Consulting Agreement.

Thanks, Bonnie


Good Morning Marnie -

Yesterday I made a dental appt. for Monday, Dec. 11th @ 5pm but I need to
leave at 4pm to get there on time.  I have to finish a root canal that was
started several months ago.  Do you foresee a problem with me leaving at 4pm
that day?


Veronica:
You don't need to copy me on these so long as you copy all of the legal
assistants.  Theyw ill make sure that either Sara or I review what they draft.
Carol


You are one sick puppy!!  I hear your boss revoked your eating privileges.
Let me know when you get them back and we'll go to lunch.


FYI. Are you aware of this?  Thanks. Lynn

 -----Original Message-----
From: 	Mercaldo, Vernon
Sent:	Tuesday, July 31, 2001 6:01 PM
To:	Williams, Jo; Blair, Lynn; Miller, Kent
Subject:	Responses to Virginia Power

Please review and let me know if you would like me to change anything you are not comfortable with before I send out to Virginia Power. (I am still waiting on the cities from Gas Control). Jo, you wanted me to get the Plainview South number from planning but see if the way I worded the reponse works.  I will get back to him separately on the fuel language response.

Thanks!


Attached please find, in ASCII text format, the Rebuttal Testimony of R.
Thomas Beach on behalf of the Indicated Electric Generators.

Please contact me if you have any questions.

Christa Goldblatt
Office Manager
Crossborder Energy
christag@crossborderenergy.com
510-649-9790
"There is hope, but not for us."  -- Franz Kafka
 - att1.htm

                                                   Exhibit No. 18

              BEFORE THE PUBLIC UTILITIES COMMISSION
                    OF THE STATE OF CALIFORNIA

Investigation on the Commission's Own Motion to        )
Consider the Costs and Benefits of Various Promising   )
Revisions to the Regulatory and Market Structure       )    I. 99-07-003
Governing California's Natural Gas Industry and to          )
Report to the California Legislature on the            )
Commission's Findings.                       )
                                        )

             REBUTTAL TESTIMONY OF R. THOMAS BEACH
           ON BEHALF OF INDICATED ELECTRIC GENERATORS
                         IN SUPPORT OF
            THE COMPREHENSIVE SETTLEMENT AGREEMENT

                                   R. Thomas Beach
                                     Principal
                                   Crossborder Energy
                                   2560 Ninth Street, Suite 316
                                   Berkeley, California 94710
                                   Telephone: 510-649-9790
                                   Facsimile: 510-649-9793
                                   E-mail: tomb@crossborderenergy.com

                                   On behalf of
                                   Indicated Electric Generators

May 5, 2000,                          Subject Index

INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . .1

SCGC / TURN EXAGGERATE THE DIFFERENCES BETWEEN THE PG&E AND
     SOCALGAS SYSTEMS. . . . . . . . . . . . . . . . . . . . . .2
     The Commission Should Focus on a Statewide, Consistent Structure for the
Gas Utilities
          Moving Forward, Not on Whether PG&E and SoCalGas Have Had Similar
          Problems in the Past . . . . . . . . . . . . . . . . .2
     SoCalGas' Backbone System Serves the Same Function as PG&E's, and Can Be
          Unbundled in a Manner Similar to the PG&E Gas Accord .3
     The Benefits of the Gas Accord's City-Gate Market Have Been Substantial
for Electric
          Generators . . . . . . . . . . . . . . . . . . . . . .3
     Customers Have Not Had to Hold Capacity or Pay Demand Charges to Realize
These
          Benefits . . . . . . . . . . . . . . . . . . . . . . .4

SCGC'S AND TURN'S COST / BENEFIT ANALYSIS OF TRANSMISSION UNBUNDLING
     IGNORES THE BENEFITS AND OVERSTATES THE COSTS . . . . . . .4
     SCGC / TURN Fail to Recognize the Benefits of Transmission Unbundling4
          Unbundling will provide competitive benefits in the city-gate
market4
          The Comprehensive Settlement reduces rates for EG customers6
          The Comprehensive Settlement reduces risks for EG customers6
     SCGC / TURN Greatly Overstate the Impact of Demand Charges.7
,              BEFORE THE PUBLIC UTILITIES COMMISSION
                    OF THE STATE OF CALIFORNIA

Investigation on the Commission's Own Motion to        )
Consider the Costs and Benefits of Various Promising   )
Revisions to the Regulatory and Market Structure       )    I. 99-07-003
Governing California's Natural Gas Industry and to          )
Report to the California Legislature on the            )
Commission's Findings.                       )
                                        )

             REBUTTAL TESTIMONY OF R. THOMAS BEACH
           ON BEHALF OF INDICATED ELECTRIC GENERATORS
                         IN SUPPORT OF
            THE COMPREHENSIVE SETTLEMENT AGREEMENT

     My name is R. Thomas Beach. I am principal consultant with the firm
Crossborder
Energy. My business address is 2560 Ninth Street, Suite 316, Berkeley,
California 94710.  My
experience and qualifications are described in Attachment RTB-1 to the direct
testimony that I
served in this proceeding on May 4, 2000.

I.   INTRODUCTION

     This rebuttal testimony responds to the direct testimony of the Southern
California
Generation Coalition (SCGC) and The Utility Reform Network (TURN) in support
of their "Post-
Interim Settlement Agreement" (PISA), which was submitted to the Commission
on April 3,
2000.  The sponsors of this rebuttal testimony include past, present, and
future electric generation
customers of the Southern California Gas Company (SoCalGas) and San Diego Gas
and Electric
(SDG&E).  The sponsors of this testimony are all signatories to and
supporters of the
Comprehensive Settlement Agreement that over 20 parties filed on April 17,
2000.  For the
reasons set forth below, the sponsors of this testimony do not support the
SCGC / TURN PISA
to the extent that it fails to unbundle intrastate transmission, a step that
is one of "the most
promising options" that the Commission has identified for the restructuring
of the SoCalGas
system.  I recommend, instead, that the Commission adopt the Comprehensive
Settlement
Agreement, which moves forward on all of the Commission's "most promising
options," including
unbundling intrastate transmission.  The Comprehensive Settlement Agreement
enjoys broad
support from the full range of stakeholder interests in the southern
California gas market.

II.  SCGC / TURN EXAGGERATE THE DIFFERENCES BETWEEN THE PG&E
     AND SOCALGAS SYSTEMS.

     In D. 99-07-015, at page 14, the Commission identified the creation of a
system of firm,
tradeable intrastate transmission rights as one of its "most promising
options" for the further
restructuring of the SoCalGas system.  A significant element in that
determination was the
Commission's desire to follow the model of the PG&E Gas Accord, and thus to
encourage
statewide consistency in its gas restructuring program.  The SCGC / TURN PISA
now asks the
Commission to re-consider that finding, and to defer any further unbundling
of intrastate
transmission service on the SoCalGas system.  In support of that aspect of
the PISA, the
witnesses for SCGC / TURN testify (1) that the unbundled transmission system
adopted for
PG&E under the Gas Accord responded to a unique set of problems that have not
been present in
southern California, (2) that there are significant structural and
operational differences between
the PG&E and SoCalGas systems, and (3) that the Gas Accord structure has not
benefitted end-
use customers in northern California.  None of these assertions are correct.

     A.   The Commission Should Focus on a Statewide, Consistent Structure
for the
          Gas Utilities Moving Forward, Not on Whether PG&E and SoCalGas Have
          Had Similar Problems in the Past.

     SCGC / TURN witness Mr. Florio describes at length the problems that led
to the
adoption on transmission unbundling for PG&E in the Gas Accord settlement.
He views PG&E's
difficulties as far more extensive than those that SoCalGas now faces, thus
justifying more
"extreme measures" such as the unbundling of intrastate transmission.  SCGC /
TURN Testimony,
at Section 2.1.1.2.

     In my view, both PG&E and SoCalGas have faced the same types of
problems, even if the
economic distortions on the PG&E system have been greater.  On both systems,
shippers have not
had a system of firm capacity rights, allocated by non-discriminatory, open
access procedures, to
govern who had access to what receipt point.  On the PG&E system, the attempt
to discriminate
against PGT Expansion volumes that sought to use PG&E's Line 400 resulted in
the "crossover"
problems at Malin.  Similarly, SoCalGas' "windowing" procedures have not
provided firm, non-
discriminatory access at SoCalGas' receipt points.  "Windowing" has
restricted the access of
competitive gas supplies to receipt points such as Wheeler Ridge, just as the
"crossover ban"
limited the competition to sell gas at Malin onto PG&E's Line 400.

     Furthermore, SoCalGas has also faced the same sort of "conflict of
interest" charges as
PG&E.  SoCalGas' core procurement department has been criticized for
monopolizing the Hector
Road receipt point, to the benefit of SoCalGas' shareholders through the Gas
Cost Incentive
Mechanism.  See D. 99-07-015, at pages 15 - 18.

     However, the Commission should not decide the future structure for
California's gas
industry on the basis of whether SoCalGas' past problems have resembled
PG&E's past
difficulties. For electric generators, what is important is that the
structures that the Commission
adopts in both parts of the state should solve these problems and should be
consistent on a
statewide basis.  The new electric market is a statewide market.  There are
already at least two
merchant electric generators (Dynegy and Duke) and a number of QF projects
under common
ownership that operate in more than one gas utility service territory.
Another merchant plant
developer (Calpine) has made no secret of its intent to operate plants
statewide.  This trend
promises to increase competition in the electric market.  To encourage this
trend, the Commission
should focus on carrying through on D. 99-07-015's promise to increase the
statewide consistency
of California's natural gas restructuring program.  The unbundling of
intrastate transmission was a
key element of the PG&E Gas Accord, and should be a foundation of the further
restructuring of
the SoCalGas system, as well.

     B.   SoCalGas' Backbone System Serves the Same Function as PG&E's, and
Can
          Be Unbundled in a Manner Similar to the PG&E Gas Accord.

     Mr. Florio claims that the "network" nature of the SoCalGas system
argues against
following the Gas Accord model for unbundling backbone transmission service
for SoCalGas.
Yet Mr. Florio concedes that SoCalGas' mainline facilities that extend from
the Los Angeles basin
to the interstate pipelines on the California / Arizona border do resemble
interstate pipelines.
SCGC / TURN, at Section 2.1.1.3. SoCalGas' lines running north from the L.A.
Basin to the
Wheeler Ridge interconnects also are clearly backbone facilities similar to
PG&E's.  With respect
to local transmission, SoCalGas' network of local transmission lines inside
the L.A. Basin is
similar to PG&E's network of local transmission lines in its load centers in
the Bay Area and
Central Valley.  Indeed, both the PG&E and SoCalGas systems can be considered
to be "spokes"
of backbone lines transporting gas from the interstate pipeline receipt
points to "hubs" of
networked local transmission facilities.  The two systems differ in the
length and number of the
"spokes" (SoCalGas' are shorter and more numerous), but operationally these
components serve
the same function.  In my view, there is just as strong an operational basis
for unbundling
SoCalGas' backbone and local transmission facilities and services as there
was for unbundling
PG&E's.

     C.   The Benefits of the Gas Accord's City-Gate Market Have Been
Substantial
          for Electric Generators.

     Mr. Weil downplays the benefits that the Gas Accord has produced through
competition
among suppliers in the PG&E city-gate market that the Gas Accord created.
First, he appears to
cite the existing data as showing "average benefits of around 2 cents or more
per MMcf/d."
SCGC / TURN, at Section 2.2.2. As cited in my direct testimony, the actual
benefits have been
more than 2 cents per mmcf/d   $0.03 to $0.08 per Dth.  Mr. Weil opines that
such savings are
not significant for core customers.  Ibid., at Section 2.2.2. Regardless of
whether one agrees with
him, such competitive reductions in transportation costs are very important
for electric
generators, whose total transportation rate is likely to be roughly $0.35 per
Dth, and who, as Ms.
Yap states, "sell into a highly competitive PX market."  SCGC / TURN, at
Section 2.4.1. For an
electric generator, a 10 to 20% reduction in gas transportation charges is
well worth pursuing, as
shown by SCGC's active participation on SoCalGas BCAP issues that would lower
SoCalGas'
EG rates by far smaller amounts.

     D.   Customers Have Not Had to Hold Capacity or Pay Demand Charges to
          Realize These Benefits.

     Mr. Weil also asserts that the fact that relatively few end use
customers hold backbone
transmission capacity on the PG&E system shows that unbundling under the Gas
Accord has not
benefitted customers.  He opines that this is due to the high transaction
costs associated with
holding capacity.  SCGC / TURN, at Section 2.2.3. Ms. Yap also describes at
length how the
transaction costs associated with managing transmission capacity tends to
force end users to buy
from marketers.  Ibid., Section 2.3.1. She concludes that unbundling has been
"great for
marketers" but "not good for customers."  Ibid., at Section 2.3.1.

     This testimony ignores the fact that marketers do not exist independent
of their customers.
If a marketer's services do not add value for the customer, then that
marketer will not remain in
business for long. Under the Gas Accord, most noncore end users in northern
California have
been buying gas from marketers in the PG&E city-gate market.  However, the
available data on
PG&E city-gate gas prices   discussed above   show that end users have
realized significant
savings from these purchases, compared to the option of buying gas at the
California border and
managing their own transportation to the city-gate.  These city-gate
purchases have not involved
paying demand charges or incurring transaction costs associated with managing
capacity.
Competition among marketers has assured that customers benefit from
marketers' efficiencies in
managing transportation costs.

III. SCGC'S AND TURN'S COST / BENEFIT ANALYSIS OF TRANSMISSION
     UNBUNDLING IGNORES THE BENEFITS AND OVERSTATES THE COSTS.

     SCGC and TURN attempt to present a cost / benefit analysis of
transmission unbundling,
largely through the testimony of Ms. Yap, in an effort to show that the costs
outweigh the
benefits.  Ms. Yap ignores several significant benefits from unbundling,
greatly exaggerates the
possible costs, and presents unsubstantiated assertions about the impacts of
unbundling on
generators in the Los Angeles basin.

     A.   SCGC / TURN Fail to Recognize the Benefits of Transmission
Unbundling.

          1.   Unbundling will provide competitive benefits in the city-gate
market.

     The experience with transmission unbundling under the PG&E Gas Accord has
demonstrated that end use customers realize competitive benefits from the
creation of a city-gate
market.  The city-gate market moves gas-to-gas competition between suppliers
closer to the
customer, and allows the customer to avoid risks associated with paying
demand charges or
managing backbone transportation. Those customers who believe they can
achieve greater profits
by managing their own transportation have that option, and since not all
transportation rights on
the PG&E system are held by marketers, it is obvious that such customers do
exist.

     Mr. Weil doubts that the city-gate benefits seen on the PG&E system will
materialize, due
to "Southwest supply dominance" at SoCalGas receipt points.  SCGC / TURN, at
Section 2.2.2. Presumably this refers to the fact that gas prices tend to
trade within a narrow range of a few
cents per Dth at all of the receipt points into the SoCalGas system.  Ibid.,
at Section 2.3.1. The
price differentials at the SoCalGas receipt points are much lower than the
significant price
differentials that have existed between Topock, Arizona, and Malin, Oregon,
the two major
receipt points into the PG&E system.  However, recently the Malin / Topock
price difference has
been due almost entirely to the $0.10 to $0.12 per Dth transportation rate
differential between
PG&E's Redwood and Baja paths.  Over the most recent year for which data is
available, Malin
prices have been essentially equivalent to Topock prices, when adjusted for
the downstream
transportation rate differences.  This integration of the Malin and Topock
markets has been the
result of rising Canadian prices relative to U.S. markets, which has produced
a competitive
equilibrium between Canadian and domestic supplies serving northern
California.  Yet over this
year the benefits of PG&E city-gate purchases has actually increased, even
though there was very
little difference between Malin and Topock prices delivered to the end user.
From May 1999
through April 2000, PG&E city-gate prices have been $0.05 per Dth to $0.11
per Dth lower than
the comparable cost of border purchases plus PG&E's full backbone
transportation rates.  This
data is summarized in my Table 1.  Contrary to the SCGC / TURN testimony,
this recent
experience suggests that the price benefits from competition at a new
SoCalGas city-gate may be
just as large as those actually observed on the PG&E system.

Table 1

Natural Gas Market (May-99 through Apr-00)   $/MMBtu

Gas Prices
                             Malin
                             Topock
                         PG&E City-gate

California Border:
                              2.44
                              2.56

City-gate Market:

                              2.71

PG&E Transportation:
                            Redwood
                              Baja

                                                          Firm:
                                                           0.32
                                                           0.22

                                                  As-Available:
                                                           0.38
                                                           0.26

Price of Border
Purchases at City-gate

Firm:
2.76
2.78

As-Available:
2.82
2.82

Benefits of City-gate overBorder Purchases

Firm:
0.05
0.07

As-Available:
0.11
0.11

Data Source: Natural Gas Intelligence
              2.    The Comprehensive Settlement reduces rates for EG
customers.

          Transmission unbundling, as proposed in the Comprehensive
Settlement, will result in a
modest reduction in transportation rates for electric generators.  My direct
testimony discussed
how transmission unbundling under the Comprehensive Settlement will reduce EG
rates by $3
million per year in 2002, or about $0.01 per Dth, compared to the SoCalGas
rates adopted in the
recent BCAP decision, D. 00-04-060.  In addition, the Comprehensive
Settlement unbundles
transmission rates on an embedded cost basis, removing roughly half of the EG
rate from
SoCalGas' complex, contentious long-run marginal cost rate design.  This will
enhance the
certainty and stability of SoCalGas' EG rate   a particularly important
factor to EG customers
that may seek to build new gas-fired capacity on the SoCalGas system.

              3.    The Comprehensive Settlement reduces risks for EG
customers.

          Ms. Yap comments at length on how "if a generator's fundamental
risk increases, investors
demand more net income from the operation to compensate them for that
increased level of risk."
SCGC / TURN, at Section 2.4.3.  In my view, the Comprehensive Settlement
reduces a number
of important risks for electric generators, compared to the SCGC / TURN PISA,
as follows:

0         SoCalGas shareholders will assume 100% risk for the recovery of
unbundled backbone
          transmission costs.  This protects electric generation customers
from bearing higher
          backbone transmission costs if SoCalGas discounts backbone rates or
if declining
          throughput leads to reduced backbone transmission revenues.

0         The Comprehensive Settlement prices transmission services on an
embedded cost basis
          through August, 2006.  This removes the calculation and allocation
of marginal transmission
          costs as an issue in the next SoCalGas BCAP case.

0         The Comprehensive Settlement uses a defined 79% load factor to
price backbone
          transmission service through the term of the settlement.  This
removes the risk that declining
          throughput on the SoCalGas system could raise backbone transmission
rates in the next
          SoCalGas BCAP case.

0         The Comprehensive Settlement reduces customers' risk for revenues
from unbundled
          storage services to 25% in the second year (beginning in April,
2002), while the SCGC /
          TURN PISA maintains the 50% risk adopted in D. 00-04-060 through
2002.

0         The Comprehensive Settlement unbundles SoCalGas' transmission,
storage, and balancing
          services.  This will offer electric generators a number of new
opportunities to reduce their
          costs, including (1) city-gate gas purchases, (2) self-balancing or
competitive balancing
          services, and (3) new, competitive storage services.  In my
opinion, these opportunities
          reduce the risk that generators in the Los Angeles Basin will be
caught in a "price squeeze"
          between their gas costs and their electric revenues, because they
will have more ways in
          which to reduce their gas costs.

          B.  SCGC / TURN Greatly Overstate the Impact of Demand Charges.

          The use of demand charges for backbone transmission service appears
to be the focal point
of SCGC / TURN's opposition to transmission unbundling.  Throughout their
testimony, SCGC /
TURN overstate the impact of demand charges:

0         Ms. Yap's Figure 1, showing the impact of a customer's load factor
on its average
          transportation rate, assumes that the customer's entire rate is
collected in a demand charge.
          SCGC / TURN, at Section 2.4.1. She fails to note that the demand
charge for firm backbone
          transmission under the Comprehensive Settlement will be only about
22% of the total EG
          rate under the SFV rate option, and just 12% of the rate under the
alternative backbone rate
          with a 50% demand component.

0         Ms. Yap presents the results of "a study of more than half of the
generators in the Los
          Angeles basin" that purports to show that "SFV-style" demand
charges could increase
          annual fixed costs by "as much as 20 percent."  SCGC / TURN, at
Section 2.4.2. I have
          examined the workpapers for this study, obtained in by Southern
California Edison in
          discovery, and it is based on wholly unrealistic assumptions for
how generators will buy gas
          under the Comprehensive Settlement.  First, the study assumes that
each generator will
          contract at the SFV rate proposed in the Comprehensive Settlement
for a quantity of firm
          backbone capacity based on the generator's theoretical maximum gas
use in a day (that
          is, its generating capacity in MW, times its average heat rate,
times 24 hours).  Apparently,
          this assumption is made regardless of whether the plant has
actually ever used that much gas
          in a single day.  The plants studied are mostly intermediate-load
or peaking units, and almost
          certainly never operate at anything approaching full capacity for
all 24 hours of a day.  As a
          result of this assumption, the plants studied are assumed to
contract for 1,426 MDth per day
          of backbone capacity.  According to the study, these units
represent 43% (i.e. less than one-
          half) of the gas-fired capacity in the Los Angeles Basin.  If all
generators in the basin
          contracted for capacity in this way, electric generators alone
would demand 3,316 MDth per
          day of capacity, or 93% of SoCalGas' total receipt point capacity!
There is obviously no
          such demand today for firm service to electric generators on the
SoCalGas system.  Second,
          the study assumes that the generators will make no effort to
broker, release, or sell the
          massive amount of excess capacity that they have bought and will
derive no revenues from
          such off-peak capacity sales.

          Thus, the study's dire picture of the impact of demand charges on
low-load factor
     generators assumes that such generators massively over-contract for
capacity, and fail to
     take advantage of the numerous means available under the Comprehensive
Settlement to
     reduce or eliminate their demand charge risks:

          The Comprehensive Settlement offers an optional backbone rate with
a 50% demand
          charge that almost halves the demand charge risk, but offers the
same firm priority as the
          SFV demand charge.

          Under the comprehensive settlement, interruptible service at
volumetric rates is always
          available at no more than a 20% premium over firm backbone rates,
and may even be
          available at less than the firm backbone rates, particularly during
low-demand periods.
          With a backbone rate of $0.0719 per Dth, this premium is no more
than $0.0144 per Dth.
          Ms. Yap observes (in Section 2.3.1) that the interstate pipelines
supplying SoCalGas have
          at least 1,000 MMcf/d (or 30%) more capacity than SoCalGas'
intrastate system.  She
          does not recognize that SoCalGas' backbone system also has more
than 900 MMcf/d of
          excess capacity, plus substantial excess storage capacity.  Due to
this excess intrastate
          capacity, it is difficult to imagine a scenario, for the
foreseeable future, in which a low-
          load factor generator would ever have to pay more than the maximum
interruptible rate
          for "virtually firm" backbone service.

          I have re-calculated the results of the SCGC / TURN study, under
the assumption that
          generators in the Los Angeles basin take interruptible service, in
order to avoid demand
          charges, at the full $0.0144 per Dth premium for interruptible
service.  In this case, the
          generators' annual fixed costs increase by just six-tenths of one
percent (0.6%).  In
          reality, I expect that interruptible or released firm service will
be available for much of the
          year at all-volumetric rates that are much less than the maximum
interruptible rate.

          The Comprehensive Settlement will establish an active market for
the trading of
          backbone capacity on the SoCalGas system.  This will provide a
means for electric
          generators to rationalize their holdings of intrastate capacity,
and may be a source of firm
          capacity at volumetric rates.  Again, the SCGC / TURN study of the
impact of demand
          charges assumes that generators do not use this secondary market.

          Ms. Yap fails to recognize that low-load factor generators will be
able to avoid paying
          demand charges (and save money on intrastate transportation, as
well) by buying gas in
          the city-gate market.  Ms. Yap's primary concern with the city-gate
market appears to
          be the fear that marketers will be able to charge a significant
premium for city-gate sales
          during periods of capacity constraints.  SCGC / TURN, at Section
2.3.1. Ms. Yap's
          testimony fails to explain her assertion that the city-gate market
could become a
          "bottleneck" on the SoCalGas system.  Upstream of the city-gate
market, SoCalGas will
          have over 900 MMcf/d of excess backbone capacity, plus significant
amounts of unused
          storage capacity.

          Ms. Yap's "bottlenecks" and marketer-manipulated high prices have
not materialized in
          two years' of experience with the PG&E city-gate market, even
though PG&E has less
          excess transmission capacity and far less storage capacity than
SoCalGas.   PG&E city-
          gate prices did experience one brief spike, due to very high demand
during the cold snap
          just prior to Christmas in 1998, but on average PG&E city-gate
prices have provided
          significant benefits to end users, compared to purchases at the
California border.  In
          addition, the data that Mr. Weil cites on the parties holding
capacity on the PG&E system
          shows that 75 parties hold capacity on the Redwood path alone, and
does not suggest any
          undue concentration of capacity holdings on the PG&E backbone
system.  Ibid., Table 1,
          Section 2.2.3.

          Furthermore, the Comprehensive Settlement has numerous provisions
to ensure that any
          one marketer will be unlikely to accumulate a dominant share of
capacity to the SoCalGas
          city-gate market.  First, noncore end use customers will have the
initial two open seasons
          in which to subscribe to up to 50% of the available backbone
capacity, without
          competition from marketers.  This should ensure that end users that
are interested in
          holding capacity will be able to acquire the capacity that they
desire, and is likely to lead
          to an even greater number of holders of capacity than resulted from
the Gas Accord open
          season, in which end users and marketers competed together.
Second, the Comprehensive
          Settlement limits any one party from holding, at the end of the
open season process, more
          than 40% of the intrastate capacity from any individual SoCalGas
receipt point.  Third, if
          any party attempts to withhold firm intrastate capacity, in an
effort to drive up prices, that
          capacity will be available for SoCalGas to sell as interruptible
service, and SoCalGas will
          have a strong incentive to market such capacity, because it is 100%
at risk for the
          recovery of backbone transmission costs.

     The SCGC / TURN testimony tries to portray low-load factor generators as
caught in a
"price squeeze" between capped PX prices and increased fixed operating costs
due to the
imposition of demand charges for intrastate transmission.  SCGC / TURN,
Section 2.4.3.  The
testimony paints a grim picture of plants closing, and jobs lost, in the Los
Angeles Basin.
However, there are a number of elements in this picture that simply do not
add up:

0    The testimony appears to assume that low-load factor generators pay the
SFV demand
     charges, and take none of the steps discussed above to mitigate or
eliminate the impact of
     demand charges.

0    The testimony does not recognize that there will be a $3 million dollar
reduction in rates to
     the EG class as a result of the Comprehensive Settlement.

0    The testimony asserts that the increases in operating costs as a result
of demand charges will
     be serious enough to force plants to close.  Even accepting SCGC /
TURN's inflated figure
     of a 20% increase in fixed costs, SCGC / TURN provide no financial data
that substantiates
     their assertion that an increase of this magnitude is likely to force a
significant number of
     plants to close.

0    SCGC / TURN fail to appreciate the logical way to avoid the "price
squeeze" that they so
     fear: buy gas in the SoCalGas city-gate market.  City-gate buyers will
avoid paying demand
     charges, so their fixed operating costs will not increase.  In addition,
the SoCalGas city-gate
     market is likely to be the gas market that is most tightly linked to
electric prices in southern
     California, because it will be the closest market to the generators'
point of consumption and
     because almost 60% of noncore loads on the SoCalGas / SDG&E system are
electric
     generators.  As a result, generators buying gas in the SoCalGas
city-gate market will have
     the highest assurance that changes in their gas costs will be reflected
in changes in electric
     prices, thus reducing the risk of a "price squeeze between gas and
electric prices.  This has
     certainly been the case in northern California.  Straightforward
statistical analyses that I have
     performed show that the PG&E city-gate gas price is more highly
correlated to PX electric
     prices than are gas prices in any other market in the state, presumably
because electric
     generators in northern California use that market and because it is the
closest market to the
     generators' burner tips.

0    SCGC / TURN attempt to argue that the closure of low-load factor plants
in the Los
     Angeles Basin, due to the imposition of demand charges, will have
serious implications for
     electric reliability.  SCGC / TURN, at Section 2.4.5. At the same time,
SCGC / TURN argue
     that generators will not be able to recover demand charges because less
than 20% of the
     capacity in the basin is under Reliability Must-Run (RMR) contracts and
that there is
     "intense competition" for available RMR contracts.  Yet the lack of RMR
contracts in the
     basin is due to the fact that there is enough capacity in the basin to
provide more-than-
     adequate reliability and to assure that few generators can exercise
local market power.  If
     some generators in the Los Angeles Basin go out of business due to
demand charges, a more
     likely scenario than blackouts is that PX prices will rise in southern
California, the ISO will
     make available more RMR contracts in the basin, and those contracts will
provide a higher
     level of cost recovery, thus offsetting the impact of the demand charges.

     This completes my rebuttal testimony.


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To help you learn more about WorldCom's services, a WorldCom Conferencing Field Specialist, Torri Rhodes, has arranged a training seminar. Please RSVP for this seminar by replying to torri.rhodes@wcom.com <mailto:torri.rhodes@wcom.com>.

ON-SITE TRAINING  DATE:                     Tuesday, May 14, 2002  TIME: 10:00 - 11:00 LOCATION: ECN5C2

Please remember to RSVP by replying to torri.rhodes@wcom.com <mailto:torri.rhodes@wcom.com> .
If you have any questions regarding conferencing, please contact our Account Representative, Darin Carlisle or Torri Rhodes:

                Darin Carlisle	                  Torri Rhodes
          Sr. Contracts Manager	       Conferencing Field Specialist
                  Enron GSS	          WorldCom Conferencing
                 713-345-3808	                  713-651-3267
         darin.carlisle@enron.com 	           torri.rhodes@wcom.com

Derryl W. Cleaveland


CNG would like to stop by the office to do some TTT training next Wed, Thur,
or Fri.

Please let Marde know if you have a preference as to which day you would like
to meet with CNG.  I may or may not be here.

Thanks


Zimin,

This is the course description I got from Hal.    Can you follow up with him
to schedule a date for a high level presentation?    I think we should keep
it to only 90 minutes or so.    Maybe you and Kevin Kindall can be the
presenters.

--Stinson

---------------------- Forwarded by Stinson Gibner/HOU/ECT on 04/11/2000
04:12 PM ---------------------------

Harold Bertram
04/11/2000 08:38 AM
To: Stinson Gibner/HOU/ECT@ECT
cc:
Subject: Re: Monte Carlo Techniques

Stinson,I feel I would benefit from understanding the Monte Carlo techniques
and what it applies to,as well as when it is used these MC techniques.I think
I could get several people interested.Thanks,Hal

Stinson Gibner
04/10/2000 09:40 AM
To: Harold Bertram/HOU/ECT@ECT
cc:
Subject: Monte Carlo Techniques

Hal,

Actually, I am no longer scheduled to speak at the Risk conference on M-C
techniques.   We could probably put together an internal training for you if
you want.   I'll bring this up with Vince at our staff meeting tomorrow.
It would be helpful if you can describe for me the intended audience and the
types of applications that would interest them.

thanks ,

--Stinson


No back surgery yet.  Second opinion Dr. said "let's just wait for 3 months
and see what happens.  We can always do the surgery." I liked that idea.

Give Mom and Dad a big hug for me.

"Veselack, Joni" <joni.veselack@neg.pge.com> on 04/02/2001 07:21:19 AM
To: "'Chris.Germany@enron.com'" <Chris.Germany@enron.com>
cc:
Subject: RE: Hey Wiseone

You are the best!!! Did you have your back surgery yet??? I forgot about
that... I hope you're okay. I'm going on vacation too... April 11 to 16...
see Mom and Dad in Colorado!!!

Have a splendid day!!!

-----Original Message-----
From: Chris.Germany@enron.com [mailto:Chris.Germany@enron.com]
Sent: Friday, March 30, 2001 7:46 PM
To: joni.veselack@neg.pge.com
Subject: Re: Hey Wiseone

If you nom from Onshore straigt to Leach, you pay Comm (meaning without ACA
or GRI) and ACA, the ship Leach to TCO Citygate and pay Comm + ACA + GRI.
If you go from Leach to your TCO pool, you pay the same CGLF stuff and no
charge on TCO at all.

Next question, you have SST and you go from the pool to STOI, you pay the
SST Comm + ACA + GRI into storage.  When you use SST to go from STOW to the
Citygate, you only pay Comm, no ACA or GRI (i think).

Backs doing ok.  Going on vacation on the 9th and I can't wait.  And yes it
has been a stressfull bid week.  But you r probably making tons of dough.

"Veselack, Joni" <joni.veselack@neg.pge.com> on 03/29/2001 02:00:34 PM

To:   "'Chris Germany'" <chris.germany@enron.com>
cc:
Subject:  Hey Wiseone

I need a correct answer to my question... I know you will not lead me a
stray.

If I buy onshore, take it through mainline, take it through leach, and take
it to a delivered gate on TCO. Do I just pay GRI  once at TCO delivered
point. If I drop it off in TCO pool, then I pay the GRI there?? I can't
seem
to get a straight answer from my accountants and TCO. It looks like our
model is adding the GRI at each leg... opps.

Thank you sweetie!!!!

How's your bidweek... mine sucks!!!

PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility.  Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission.  Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.


anytime after 3 pm today  i will be leaving today at 4.45


FYI.
---------------------- Forwarded by Jeff Dasovich/SFO/EES on 08/16/2000 04:08
PM ---------------------------

Bruno Gaillard
08/16/2000 03:47 PM
To: Jeff Dasovich/SFO/EES@EES, Harry Kingerski/HOU/EES@EES, Mona L
Petrochko/SFO/EES@EES, Susan J Mara/SFO/EES@EES, James D Steffes/HOU/EES@EES,
Sandra McCubbin/SFO/EES@EES, Roger Yang/SFO/EES@EES
cc:
Subject: FW: First flat rate out of the chute = Tenderland

Orange County/State briefs: Truckee firm offers cut-rate electricity

August 16, 2000

Orange County Register

A Truckee company is selling electricity for 8 cents per kilowatt hour, far
less than what many south Orange County residents have been paying this
summer. TenderLand Power Co. will guarantee the flat rate for a year,
starting Oct. 1, for up to 60,000 customers. That equates to roughly 5
percent of all the customers now using San Diego Gas & Electric Co.

This week, SDG&E is selling electricity for 17.6 cents per kilowatt hour.

Residents may want to wait before switching, because a cut in SDG&E bills
could be in the offing, said Jodi Beebe at the Utility Consumers' Action
Network in San Diego.

TenderLand Invites 60,000 Electricity Customers to Opt Out of Electric Rate
Crisis

08/15/2000

Business Wire

(Copyright (c) 2000, Business Wire)

TRUCKEE, Calif.--(BUSINESS WIRE)--Aug. 15, 2000--TenderLand Power Company
has invited 60,000 California electricity customers on a first-come,
first-served basis to choose TenderLand, receive a flat electric generation
rate, and stand up for their right under deregulation to switch away from
San Diego Gas & Electric, thereby completely opting out of the rate crisis
being experienced by SDG&E customers.

In response to the high electric rates in San Diego, the California
Legislature as well as the California Public Utilities Commission has
proposed laws and procedures which create a deferred payment plan disguised
as a lower, or "frozen" fixed electric rate plan. The proposed directives
may require even those electric customers who switch or plan to switch from
SDG&E to pay for the costs of this "electric rate loan" whether or not they
receive their power from an alternative electric service provider like
TenderLand. Clearly, such a situation would infringe upon the rights of
electric ratepayers participating in a deregulated electricity market, as
they may still be forced to pay added costs for expensive energy purchased
by their local electricity distribution utility (like SDG&E) and consumed by
the utility's own customers.

"TenderLand views this possible situation as unfair to ratepayers who have
benefited by deregulation and exercised their right to choose, or plan to
choose an alternative electric service provider," said TenderLand Chief
Financial Officer Ken Keddington. "TenderLand is committed to taking all
possible action to protect its customers from these possible additional
costs while providing a renewable energy option."

"When California electricity customers choose TenderLand to receive
renewable power at a true flat electric generation rate, they will also join
TenderLand's crusade against passing added costs to those who want to opt
out of the statewide electric rate crisis, especially noticeable in San
Diego, by switching to alternative electric service providers."

The flat rate offer is limited to the first 60,000 new residential and
commercial customers who sign up with TenderLand. For more information, call
toll free at: 877/872-0932, or sign up on TenderLand's website at
www.TenderLand.com.

TenderLand Power Company, Inc. provides its customers with 100% renewable
power and is committed to furthering the development of new renewable
generation nationwide. The company is headquartered in Truckee, Calif.,
began retail operations in April 1999, and serves customers throughout most
of California.

CONTACT: TenderLand Power Company Marsha Zeller, 530/587-9295
Marsha@TenderLand.com

18:43 EDT AUGUST 15, 2000


All:

Dan Leff will be holding a Floor Meeting tomorrow, Tuesday, 4/2/02, at 9:00 AM (Pacific); 11:00 AM (Central) to discuss the Retention and Severance Plan.  Please plan to meet in the 4th Floor Conference Room tomorrow morning and we will dial in thru the conference phone line.

San Francisco Employees:  We are setting up a dial-in number and will work through April Hrach to coordinate.

ENA HR
x7404
x8321


Trang,

Thanks.

Vince

	From:  Trang Dinh                           01/10/2000 06:30 PM

To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Congratulations!

You did again!  I just read about your most recent accomplishment.
Congratulations on your promotion!  Go Vince....go Vince... go Vince..!

Sending warmest regards,
Trang


I need this printed out on my stationary ASAP fri morning. Thanks
----- Forwarded by Richard B Sanders/HOU/ECT on 09/28/2000 05:48 PM -----

	Britt Davis@ENRON
	09/28/2000 12:10 PM

		 To: Jim Armogida/Corp/Enron@ENRON, Michael Moran/ET&S/Enron@ENRON, Richard B
Sanders/HOU/ECT@ECT
		 cc: Robert Vote/Corp/Enron@ENRON, Rockey Storie/ET&S/Enron@ENRON, Becky
Zikes/Corp/Enron@ENRON
		 Subject: ExxonMobil v. EGP, et al.

Gentlemen:

As I mentioned in my earlier e-mail of this morning, I attach the latest
versions of the letter to ExxonMobil and the chronology.  Again, I have
deliberately softened the tone in the last paragraph of page 2 of the letter
to wire around a potential problem caused by a 1995 letter from us to Mobil
in the past about the role of ELSC.  We have also redrafted both the letter
and chronology to reflect that the ELP, LP was a publicly traded company, so
KN acquired only Enron's interest in it, not all of it.  We last redrafted
the chronology to reflect that the partnership never actually owned the
hydrocarbon recovery plant.

Mike has briefly reviewed these drafts and I understand has no problem with
them (although I am resending them to him for him to review again if he
wishes).

Jim and Richard, once I have your respective comments/go ahead, I will send
this to Eric Nichols by telefax this afternoon.  I will also give Nichols a
heads-up that it is coming.

I await your response.

Britt


We're trying to get a head count for the TradersNews Index (TNI) Users
Meeting/Happy Hour
> > Tuesday, May 15, from 3-5 p.m. at Farrago, near downtown Houston.
> >
> > Come join other utilities and marketers who've done or plan to do
financial swaps or index trades off the TNI
> > hourly, daily or term instruments. We'll have a brief presentation, and
identify arenas for you to
> > conduct the swaps -- including online platforms, instant messaging and
forums.
> >
> > Hit reply to be included on the guest list. Directions to the
restaurant,
>    at 318 Gray (713/523-6404), are at http://www.farrago.tv/farrago.htm.
Click
>    on the flag icon.
> >
> > We hope to see you there!
> >
> > Bobette
> >
> > Bobette Riner
> > Director, Traders News Indexes
> > TradersNews Energy
> > 713/647-8690
> > FAX: 713/647-7552
> > cell: 832/428-7008
> > bobette.riner@ipgdirect.com
> > http://www.tradersnewsenergy.com
> >
> >
> >
>


Gentlemen,
Here's the results from last weeks sample  run.

Thanks,
Marji Fergerson

Topock Compressor  Station
8 534 5524
760 326 5524
FAX 534 5542
[IMAGE]

 - PCB Master Log.xls
 - PCB Graphs.xls
 - sunbannA.gif
 - Sunflower Bkgrd.jpg


See redlined added language which allows reasonable time to manage the closeout process--tracks general ISDA mechanism.  The attached forms have the added language.

(b) Upon the occurrence and during the continuance of a Default in respect of any Defaulting Party, Non-defaulting Group may give notice to Defaulting Group specifying the relevant Default, declaring Defaulting Group in default of all Underlying Master Agreements and all Transactions thereunder, and designating a date not earlier than the date such notice is effective, but not later than 20 days after such notice is effective, upon which date each Non-defaulting Party shall (i) accelerate, terminate, and liquidate, or otherwise close-out all Transactions under its Underlying Master Agreements as of such designated date or as soon as reasonably practicable following such designated date; (ii) exercise rights of setoff, netting, and/or recoupment in accordance with the terms of its Underlying Master Agreements; (iii) retain any Collateral; (iv) with respect to each Defaulting Party, withhold payment and performance of each Non-defaulting Party's Obligations to each Defaulting Party to pay, secure, setoff against, net, and/or recoup such Defaulting Party's Obligations to such Non-defaulting Party; (v) convert any Obligation from one currency into another currency as set forth in Section 5; and (vi) take any other action permitted by law or in equity or by its Underlying Master Agreements or any Transactions thereunder necessary or appropriate to protect, preserve, or enforce its rights or to reduce any risk of loss or delay.  This Section 2(b) shall be referred to herein as the "Underlying Master Agreements Close-Out."

Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732
(713) 646-3393 (fax)
mary.cook@enron.com