---------------------- Forwarded by Rhonda L Denton/HOU/ECT on 12/18/2000
06:14 PM ---------------------------

Rhonda L Denton
11/09/2000 10:43 AM
To: Valarie Sabo/PDX/ECT@ECT, Fran Chang/PDX/ECT@ECT
cc:
Subject: Calpine Energy Services LP

---------------------- Forwarded by Rhonda L Denton/HOU/ECT on 11/09/2000
10:45 AM ---------------------------

Rhonda L Denton
11/08/2000 05:05 PM
To: Tim Belden/HOU/ECT@ECT, Dana Davis/HOU/ECT@ECT, Genia
FitzGerald/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Melissa Ann
Murphy/HOU/ECT@ECT, Kyle Schultz/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT,
Christi L Nicolay/HOU/ECT@ECT, Leslie Reeves/HOU/ECT@ECT, Gretchen
Lotz/HOU/ECT@ECT, Dean Laurent/HOU/ECT@ECT, John D Suarez/HOU/ECT@ECT, Cara
Semperger/PDX/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Jan M King/HOU/ECT@ECT,
Mike Swerzbin/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT, Michael
Etringer/HOU/ECT@ECT, John Malowney/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT,
Laura Jones/HOU/ECT@ECT, Cyril Price/HOU/ECT@ECT, James E
Terrell/HOU/ECT@ECT, Corry Bentley/HOU/ECT@ECT, Matt Lorenz/HOU/ECT@ECT,
Thresa A Allen/HOU/ECT@ECT, David Portz/HOU/ECT@ECT, Sharen
Cason/HOU/ECT@ECT, Veronica Gonzalez/HOU/ECT@ECT, Kimberly Allen/HOU/ECT@ECT,
William S Bradford/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Christopher
Smith/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, John
Suttle/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT,
Stephanie Piwetz/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Leslie
Hansen/HOU/ECT@ECT, Russell T Kelley/HOU/ECT@ECT, Stewart Rosman/HOU/ECT@ECT,
Holli Krebs/HOU/ECT@ECT, Paul Choi/SF/ECT@ECT, Chris H Foster/HOU/ECT@ECT,
Sean Crandall/PDX/ECT@ECT, Diana Scholtes/HOU/ECT@ECT, Paul Mead/PDX/ECT@ECT,
Jeff Richter/HOU/ECT@ECT, Phillip Platter/HOU/ECT@ECT, Smith L
Day/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, D Brett Hunsucker/HOU/ECT@ECT,
Kim Ward/HOU/ECT@ECT, John M Forney/HOU/ECT@ECT, Edward D
Baughman/HOU/ECT@ECT, Kayne Coulter/HOU/ECT@ECT, John Kinser/HOU/ECT@ECT,
Robert Benson/Corp/Enron@Enron, Larry Valderrama/HOU/ECT@ECT, Paul J
Broderick/HOU/ECT@ECT, Edward Sacks/Corp/Enron@Enron, Janet H
Moore/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Shari Stack/HOU/ECT@ECT, Kevin
M Presto/HOU/ECT@ECT, Rogers Herndon/HOU/ECT@ect, Jesse Bryson/HOU/ECT@ECT,
Stanley Cocke/PDX/ECT@ECT, Michael M Driscoll/PDX/ECT@ECT, Doug
Gilbert-Smith/Corp/Enron@ENRON, Kimberly Hundl/Corp/Enron@Enron, Joy
Werner/Corp/Enron@ENRON, Elsie Lew/HOU/ECT@ECT, Dan Houston/Corp/Enron@Enron,
Amy Horton/Corp/Enron@ENRON, Kim Durham/HOU/ECT@ECT, Rhonda
Robinson/HOU/ECT@ECT, Rudy Acevedo/HOU/ECT@ECT, Diana Allen/Corp/Enron@ENRON,
Ted Ballinger/NA/Enron@Enron, Don Baughman/HOU/ECT@ECT, Lisa
Burnett/Corp/Enron@Enron, Carla Hoffman/PDX/ECT@ECT, Mark Guzman/PDX/ECT@ECT,
Larry F Campbell/NA/Enron@Enron, Mike Carson/Corp/Enron@Enron, Alan
Chen/Corp/Enron@Enron, Jason Choate/Corp/Enron@ENRON, Lawrence
Clayton/Corp/Enron@Enron, Kevin Cline/Corp/Enron@Enron, Terri
Clynes/HOU/ECT@ECT, Keith Comeaux/Corp/Enron@Enron, Karla
Compean/HOU/ECT@ECT, Jason Crawford/Corp/Enron@Enron, Mike Curry/HOU/ECT@ECT,
Oscar Dalton/HOU/ECT@ECT, Clint Dean/Corp/Enron@Enron, Todd
DeCook/Corp/Enron@Enron, George Diaz/Corp/Enron@ENRON, Tom Dutta/HOU/ECT@ECT,
Joe Errigo/Corp/Enron@Enron, David Fairley/HOU/ECT@ECT, Miguel L
Garcia/NA/Enron@ENRON, Gerald Gilbert/HOU/ECT@ECT, Joe
Gordon/Corp/Enron@Enron, Brent Hebert/HOU/ECT@ect, Juan
Hernandez/Corp/Enron@ENRON, Wayne Herndon/Corp/Enron@ENRON, Jim
Homco/HOU/ECT@ECT, George Hopley/HOU/ECT@ect, Richard Hrabal/HOU/ECT@ect,
Rika Imai/NA/Enron@Enron, Alton Jackson/Corp/Enron@Enron, Larry
Jester/Corp/Enron@ENRON, Gary Justice/NA/Enron@Enron, MICHAEL
KELLY/ENRON@Gateway, Grace Kim/NA/Enron@Enron, Jeff King/Corp/Enron@Enron,
Madhup Kumar/Corp/Enron@ENRON, Justin Laverell/Corp/Enron@ENRON, Chris
Lenartowicz/Corp/Enron@ENRON, Peter Makkai/NA/Enron@Enron, Dave
Mangskau/Corp/Enron@ENRON, Posey Martinez/HOU/ECT@ECT, Tom
May/Corp/Enron@Enron, Keller Mayeaux/Corp/Enron@Enron, Doug
Miller/Corp/Enron@Enron, Jeffrey Miller/NA/Enron@Enron, Narsimha
Misra/NA/Enron@Enron, Steve Olinde/Corp/Enron@Enron, Andy
Pace/NA/Enron@Enron, Juan Padron/NA/Enron@Enron, Ricardo
Perez/NA/Enron@Enron, Joseph Piotrowski/NA/Enron@Enron, Joe
Quenet/NA/Enron@Enron, Bill Rust/HOU/ECT@ECT, David Ryan/Corp/Enron@ENRON,
Eric Saibi/Corp/Enron@ENRON, Zachary Sampson/NA/Enron@ENRON, Anna
Santucci/NA/Enron@Enron, Janelle Scheuer/HOU/ECT@ECT, Erik
Serio/Corp/Enron@Enron, Doug Sewell/HOU/ECT@ECT, Robert
Stalford/NA/Enron@Enron, Chad Starnes/Corp/Enron@Enron, Joe
Stepenovitch/Corp/Enron@Enron, Mark Symms/Corp/Enron@ENRON, Paul D
Thomas/NA/Enron@Enron, Greg Trefz/Corp/Enron@ENRON, Maria
Valdes/Corp/Enron@Enron, Joseph Wagner/NA/Enron@Enron, Christopher
Watts/NA/Enron@Enron, Lloyd Will/HOU/ECT@ECT, Jay Wills/Corp/Enron@ENRON,
George Wood/Corp/Enron@Enron, Alex Wong/Corp/Enron@Enron, Tracy
Ngo/PDX/ECT@ECT, Laurel Bolt/HOU/ECT@ECT
cc:
Subject: Calpine Energy Services LP

Please note the following changes:
Calpine Power Services Company (Calpine)
Merged into
Calpine Energy Services, LP (Calpineene)
Contacts are being set up by Global Counterparty and Calpine Power Services
will be inactivated when this is completed.  Please book new deals to Calpine
Energy Services, LP


Member Services
Notice No. MS-17
March 22, 2001

COMMODITY EXCHANGE, INC.

NOTICE OF INTENTION TO TRANSFER MEMBERSHIPS

Notice of Intention to Transfer Memberships has been posted on the bulletin
board of the Exchange by:

Michael Caricato (LUCK-7375)

In connection therewith, notification of any claims against the
aforementioned individual arising out of transactions executed on the
Exchange up to the close of business on March 22, 2001, must be submitted to
the Corporate Secretary's Office within ten (10) days.

Inquiries regarding the above should be directed to the Member Services
Department at (212) 299-2370.

__________________________________________________
Please click on the link below to indicate you have received this
email.

"http://208.206.41.61/email/email_log.cfm?useremail=sara.shackleton@enron.com&
refdoc=(MS-17)"

Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.


Am I insane or am I just a highly paid preparer of FERC summaries for those who cannot read or comprehend FERC decisions?   AAAAHHHHHH!!!!!   P.S., I hope wee Scott is doing well.
----- Forwarded by Tom Briggs/NA/Enron on 07/24/2001 10:24 AM -----

	Sarah Novosel 07/23/2001 08:46 PM 	   To: Tom Briggs/NA/Enron@Enron  cc: Linda Robertson/NA/Enron@ENRON  Subject: RTO Papers

Tom:

Linda has asked that we put together a paper, similar to the format you used for one of the California orders, for the FERC's recent RTO orders.  This is somewhat difficult because FERC issued 6 RTO orders plus two procedural orders establishing this new mediation procedure to produce one Northeast RTO and one Southeast RTO.  And, unfortunately, I'm going to be at FERC all day tomorrow.

Attached is a compilation of the summaries we prepared on the various RTO orders.  I worked a little on the opening paragraph, but after that it's just a cut and paste from the summaries prepared by several of us.

Do you have time to work on another great Tom Paper?  I tried to include all of the substance, but it really needs revisions and restructuring in order to be helpful to the uninformed reader.

I'll call you during a break to see if you're available.

Thanks Tom

Sarah


I am not sure it solves matters.  Stikemans opinion points out:

1.  as I indicated this morning, "money" means actual currency - notes and
coins - not funds transferred by wire into an account, which would likely be
treated as an "intangible" resulting in the various requirements/concerns I
pointed to this morning regarding perfection by registration;

2.  although, in their view, the validity of the transfer approach would be
recognized by a court (in Ontario at least), given that the intention of the
Transfer Annex is to provide security for contingent obligations under the
Master Agreement and the lack of relevant case law, there is a material risk
that the Court would nonetheless characterize the transfer as a security
interest subject to the requirements for perfection.

With our present understanding, in the absence of any definitive case law,
and without an unequivocal opinion we can rely on, I am not sure we can rely
on the transfer approach to solve the problem, particularly with high volume
counterparties who likely are going to create the largest exposures.

Peter.

   Carol St Clair                03/20/2001 09:19 AM

To: Peter Keohane/CAL/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Mary
Cook/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT, Robert
Bruce/NA/Enron@Enron, Anne C Koehler/HOU/ECT@ECT, Cheryl
Nelson/NA/Enron@Enron, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan Bailey/HOU/ECT@ECT, Samantha
Boyd/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron
Subject: Re: Cash Collateral In Canada

Peter:
Thanks for responding and sorry about you having to repeat this again as I
was not aware of your previous discussions.  In Stikeman's November 2000 ISDA
Collateral Opinion, they suggest as an alternative course of action to modify
the Credit Support Annex to create a debtor/creditor relationship between the
parties and to provide for an outright transfer of cash instead of a pledge.
Do you have any thoughts on this?  Is this an alternative that we should
consider implementing with some of our more persistent high volume
counterparties who are giving us a hard time about not being able to post
cash collateral to us?

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com

	Peter Keohane
	03/20/2001 09:58 AM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc: Greg Johnston/CAL/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Mary
Cook/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron, Chris
Gaffney/TOR/ECT@ECT, Mark Powell/CAL/ECT@ECT, Sharon Crawford/CAL/ECT@ECT,
Tana Jones/HOU/ECT@ECT
		 Subject: Re: Cash Collateral In Canada

In the past few weeks, I have discussed this issue with Brent H., Mark T.
Chris G. and Mary C.  Under the PPSA jurisdictions in Canada, which includes
Alberta and Ontario among others, cash held on deposit as collateral is not
clearly categorized as "money" but more likely an "account".  Although
certain categories of collateral can be perfected by possession, including
"money", "intangibles", which includes "accounts", cannot be perfected by
possession.  The issue comes down to whether we will accept the risk that a
wire transfer to an account designated by us constitutes "money".  Although
it is not clear, the better view is that "money" means cash in hand and not
on deposit.  The risk is that an unperfected security interest is subordinate
to various parties, including a bankruptcy trustee and to subsequently taken
but properly perfected security interests.  I will admit, however, that this
seems to be a risk that others in our market take (although likely
unknowingly).

Accordingly, to perfect the "account" a registration is likely required at
the PPR, which is something we do not want to get into.

Even then, as an "account" is an "intangible" certain conflicts rules for
perfection by registration need to be considered, as the PPSA jurisdictions
provide that perfection of an intangible is governed by the laws of the
jurisdiction where the debtor is located, as determined by the location of
its principal place of business or chief executive office. i.e.  registration
may be required in some other jurisdiction entirely.  Further, an advance
search would have to be done to see if there are competing prior
registrations.  Also, as the PPR is not a guaranteed title registry,
registration priority does not necessarily guarantee security priority, and
law firms will not typically give priority opinions under the PPSA.

Lastly, if there is an insolvency and the deposit holding institution is also
a creditor of the counterparty, there may be some argument that the deposit
holding institution will assert rights of set off over the account.

In terms of updating advice, the statutory provisions have not to my
knowledge changed.  I suppose there is some possibility that a court has
recently determined that "money" includes deposits that we are not aware of,
and I could ask outside counsel to research this issue.

Peter.

   Carol St Clair                03/20/2001 07:45 AM

To: Peter Keohane/CAL/ECT@ECT, Greg Johnston/CAL/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT
Subject: Cash Collateral In Canada

Peter and Greg:
One of our counterparties is questioning why we won't accept cash collateral
in Canada.  They claim that under the current state of the law, holding cash
collateral is the method for perfecting.  Please advise.  Should we ask
Stikeman to update their advice to us on this?

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com


Debbie,

I apologize for not including a contact number on my email.  If you could
please work with our legal department on any contract language questions. Our
legal point of contact for the GISB is Debra Perlingiere. Her number is
713-853-7658. For all other questions, please feel free to call me at
713-853-4758.

Thanks,
Judy Thorne
ENA Upstream Company LLC

 -----Original Message-----
From:  Debbie Finnell <debbie_finnell@anadarko.COM>@ENRON
[mailto:IMCEANOTES-Debbie+20Finnell+20+3Cdebbie+5Ffinnell+40anadarko+2ECOM+3E+
40ENRON@ENRON.com]
Sent: Wednesday, June 06, 2001 4:23 PM
To: Thorne, Judy
Subject: RE: GISB

Could you please send me you telephone number so I can talk to you about
this GISB - the telephone number on the GISB is a non-working number.

Thanks,

Debbie Finnell
281-863-7143

> -----Original Message-----
> From: Thorne, Judy [SMTP:Judy.Thorne@ENRON.com]
> Sent: Monday, June 04, 2001 9:50 AM
> To: debbie_finnell@anadarko.com
> Cc: Thorne, Judy
> Subject: GISB
>
> Debbie,
>
> Per our conversation,  I am forwarding for your review the attached
> sample of Enron Upstream Company, LLC's GISB.   Please do not hesitate
> to give me a call with any questions you may have regarding the
> enclosed.
>
>  <<Anadarko (GISB ENA Upstream).doc>>
>
> Thanks,
> Judy Thorne
> ENA Upstream Company LLC << File: Anadarko (GISB ENA Upstream).doc >>


FYI - see attachment below from Kelly re: open issues.  Mainly, there's some
issues which just need babysitting or someone making sure they're up to
date.  Let me know if anyone wants to discuss them in more detail.

RANDY
---------------------- Forwarded by Randal Maffett/HOU/ECT on 03/02/2001
10:45 AM ---------------------------

"Kelly and Basil Mahmoud" <kmahmoud@austin.rr.com> on 03/02/2001 11:36:57 AM
To: <Randal.Maffett@enron.com>
cc:
Subject: ECOGAS open issues

Randy,
Attached is a file of open issues for your review.  I will update this list
throughout March.  I created the list so that after I leave Enron, remaining
open issues can be transitioned to a new person easily.  I think that my
last day should probably be March 31 because  I would like to continue to
oversee Melton and Melton's activities.

I will be on vacation the first week in March - trip to Mass.  I do not
think that I have enough vacation to take an entire week this early in the
year.  However, I am requesting some slack since I lost three weeks of
vacation during 2000.  I had four weeks in 2000 (includes one carryover week
from 1999) and I only took a few three day weekends for vacation during
2000.

I am working from home now because PNE needs to move Marie into my office.
(PNE hired Al Erwin and he is taking Marie's old office.)  I can be reached
by cell 512-633-1229 or at home 512-346-9813. My e-mail is
kmahmoud@austin.rr.com.

Thanks,
Kelly

 - ECOGAS open issues.doc


Hi Warren,

Please print all of these documents, and place in individual file folders
with the name of the document.  I will need 6 copies of each of the signature
pages for each of the documents.  If it is easier you can just make 6 copies
of each document.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/24/2001 03:34
PM ---------------------------

"Campbell, Carolyn" <CCampbell@KSLAW.com> on 04/24/2001 03:18:38 PM
To: "'kay.mann@enron.com'" <kay.mann@enron.com>
cc:

Subject: Delta Documents

 <<Escrow Agreement Enron Salmon LLC.DOC>>  <<ENA.Ltr.Forms.DOC>>
<<Entitlement.Ltr.DOC>>  <<ENA.Consent.DOC>>  <<Salmon - Resolutions of
LLC.DOC>>  <<LLC Agmt Enron Turbines Delta Power.DOC>>  <<Consent of Salmon
LLC electing officers.DOC>>

Kay:

We have attached execution copies of the following documents for execution
by ENA and/or Salmon LLC:

1.  Escrow Agreement (we will change pages to delete brackets on ENA wire
instructions and to add Pegasus wire instructions as soon as we get info
from Pegasus);
2.  ENA Letter re Forms of Agreement;
3.  Entitlement Letter Agreement;
4.  ENA Consent and Agreement;
5.  Consent of Sole Member authorizing the turbine acquisition and the
issuance of membership interests;
6.  First Amended and Restated Limited Liability Company Agreement (we will
fill in the dates later); and
7.  Consent of Members of LLC electing new directors, and Consent of
Directors of LLC electing new officers (we will type in names once they are
provided by Pegasus).

You should have the following documents:

1.  Schedule of Fees for Escrow Agreement; and
2.  Certificate of Incumbency;
3.  Assignment and Assumption Agreement;
4.  Bill of Sale; and
5.  Notice of Intent to Purchase Specified Option Property.

The following agreements are not yet available for signature by ENA:

1.  Escrow Disbursement Instructions (Greg says he thinks the one we
originally submitted was okay, but he wants to review again - he had put it
on hold due to the securities entitlement account issue)
2.  LLC Membership Certificates (need membership certificate books)
3.  Secretary's Certificate of LLC (waiting on revised draft from Paul
Hastings - they have promised to re-send it shortly.  If I don't get this in
an hour or so, I'll have my secretary re-type it and will forward to you.
Unfortunately, this one is the other incumbency certificate which requires a
number of signatures).

I have convinced Greg Lang that since the GE Consent and Agreement refers to
the fact that Salmon LLC has granted a security interest in the Turbine
Contract to the lenders, the GE Consent and Agreement should be executed by
Salmon after Pegasus is in control of Salmon.   Therefore, I have not
enclosed the GE Consent and Agreement in this package.

Please send over a signed copy of the Confidentiality Agreement for our
records.  If you have any questions or comments, please advise.  Thanks.

Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
ccampbell@kslaw.com

Enclosures

                    Confidentiality Notice
This message is being sent by or on behalf of a lawyer.  It is intended
exclusively for the individual or entity to which it is addressed.  This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure.  If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it.  If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.

 - Escrow Agreement Enron Salmon LLC.DOC
 - ENA.Ltr.Forms.DOC
 - Entitlement.Ltr.DOC
 - ENA.Consent.DOC
 - Salmon - Resolutions of LLC.DOC
 - LLC Agmt Enron Turbines Delta Power.DOC
 - Consent of Salmon LLC electing officers.DOC


Please find attached Credit's EOL responses for 2/28/00.

Regards
Molly


Introduction

In response to feedback received from Enron traders worldwide, we have
upgraded and improved the Stack Manager to include new functionality which we
hope will improve its effectiveness and usefulness in the management of your
products.

This new release will be automatically installed within the next few days.
Please ensure you log out at night in order to receive the upgrade.

Summary of New Features

Multiple Children - A "Child" product can be the "Parent" of another Child
(multiple links in a chain) and different types of links can be placed
against a single Parent.

Static Product Bar Prices - When you change a price in the Product Bar and
hit the "+" or "-" button, the price stays - it does not reset to the amount
in Product Properties until you logout.

Sorting - You can sort by any field on the Products Tab simply by clicking on
the title of the field. For multiple sorts, hold down your "shift" key.

Parent Products which are at the top of a stack do not have their basis
relationship identified. (e.g. The Product bar might before have said: "Basis
Link - Parent" and now would say "Stand Alone, Parent").

Detailed Feature Descriptions

Multiple Children

The new version of EnronOnline allows you to link several products together
in a long chain. For example, Child Product A can be linked to Parent Product
B, which is in turn linked to Parent Product C.

Warning: Although there is no absolute limit to the number of links in a
chain, system performance is degraded by large chains. This is because when a
customer attempts a transaction, the database must "lock" each and every
product in the chain before it can process the transaction request. The
database must then update the stack for each product before releasing the
locks. "Vertical" chains (multiple parents and children in one long link) are
much slower to process than "Flat" chains (One parent with many children).
Large vertical chains should be avoided.

Related to this feature is the ability to have several types of links on the
same parent. For example, Child Product A can have a Basis link to Parent
Product B. At the same time, Child Product C can have a Syncopated Basis link
to the same Parent Product B. Parent B is the parent for both a Syncopated
Basis link and a regular Basis Link.

Static Product Bar Prices

The new version of EnronOnline provides for "sticky" Product Bar price and
volume changes. When you change a number on the Product Bar, it does not
reset to the number contained in the Product Properties menu until after you
have logged out. This makes it easier to update prices, volumes, spreads or
offsets in a changing market without repeated hits to the "+" or "-" buttons.

One of the benefits of setting these numbers to appropriate levels is that it
reduces repeated price movements. With the old version of Stack Manager, if
the price delta was too small, traders would often repeatedly hit the price
movement buttons. Each of these price changes must be communicated across the
website to customers and consumes valuable bandwidth. This makes it harder
for customers to transact with us - each time they try, a new price update
moves the price, resulting in an increased transaction failure rate. Entering
an appropriate price into the Price Delta field and then pressing the price
movement button means that fewer (but larger) price movements are necessary,
improving overall system response and reducing customer transaction failure
rate.

You may also notice a new addition to the Product Bar prices - a new field
for Offset to Last Trade. This allows you to update the offset for Products
which have Offset to Last Trade selected from the Product Properties Menu.

Sorting/Selecting

The new version of EnronOnline provide significant additional sorting
functionality over the old. You can now choose any field heading (Type,
Location, Reference Period,  etc.) and sort by that item. You can do multiple
sorts by holding down the shift key. Example: If you select Type and then
Location while holding the shift key, you will see your products sorted first
by Product Type and then within each Product Type, by Location (in
alphabetical order).

If you right click on the Product menu, you can choose from the same sort
criteria, plus you can select "Sort by Web Order", which allows you to see
your products in the same order as they would appear to a customer on the
website (note however, that a customer on the website might be also seeing a
number of products in addition to the ones you are managing).

When you select products, you can drag your mouse while holding down the left
mouse button as always, but now you can also hold down the <ctrl> key while
making your selections. This allows you to highlight products which are not
necessarily adjacent to one another.

Parent Products and F/X Products

One of the differences in the way that the new version works is in its
treatment of how parent products are displayed. The old version showed the
type of link associated with the parent in the Product Bar (to the left of
the main Product Bar update buttons above the products tabs). The new version
does not show the type of link. This is because the new version allows for
more than one type of link on each parent product.

Some traders may notice that  their  products which have f/x links are now
identified with a stylised "fx" in the Product list. This is to enable easy
identification of products which are run as a Foreign Exchange link to the
parent, rather than managed individually.

Assistance

As always, if you have any problems with any EnronOnline functionality,
please contact the 24 hour Help Desk (Houston: 713 853 4357, London: +44 (0)
20 7783 7783, Australia: +61 2 9229 2300).

General Feedback

If you have any comments on the new functionality, or suggestions for further
functionality, please call David Forster on 713 853 1861. If you had
previously suggested new functionality which didn't make it into this
release, rest assured that you have not been forgotten - we are working hard
to improve all elements of EnronOnline and will try to incorporate your
requests into the next release of the EnronOnline Stack Manager.


Should we invite one of the tax lawyers to our weekly meeting to discuss new
forms and answer any tax questions?  ss


Kevin:

I just checked with Rob Kilmer, a TW old hand.  He said that Texas Eastern bought TW before 1974, but he was not sure exactly when.

I suggest that in the Historical Organization Section, we just say "sold to Texas Eastern Transmission Corporation and again to Houston Natural Gas in 1985 ....".

Denis
 -----Original Message-----
From: 	Donoho, Lindy
Sent:	Monday, March 18, 2002 4:55 PM
To:	Howard, Kevin A.
Cc:	Harris, Steven; Tu, Denis
Subject:	TW Business Plan Draft

Please see attached.  Denis and I have noted where we added text.  Please let us know your comments/quesitons.  (The comments in red are from Tracy, I think.)

Thanks,
Lindy
36007

 << File: TWBusPlan3-18-02.doc >>


Tracy---

The annuity was booked 2-9-01 and it liquidated 2-12-01.  The deal number is
519063.


Thanks Craig!  I'll look forward to seeing your smilin' face more frequently!  [Actually that will be tough since I currently see it at least twice a day on a life size billboard in the Omaha office lobby!!]  df

From:	Craig Buehler/ENRON@enronXgate on 03/09/2001 08:24 AM
To:	Drew Fossum/ET&S/Enron@ENRON
cc:

Subject:	FW: Organization Announcement

WAY TO GO DREW!!!

It's really refreshing to see someone who works hard (and works smart) get recognized.  Well done...
Congratulations,

Craig Buehler

Michael Moran, currently Managing Director and General Counsel for ETS, has decided to retire after a distinguished 27-year career with Enron.   Mike has been a conscience and a statesman of our organization and it is hard for me to imagine the ETS organization without Mike.

Fortunately, Drew Fossum, currently Vice President and General Counsel for Northern Natural Gas and Transwestern, has accepted my offer to become Vice President and General Counsel of ETS effective April 1, 2001.  Drew will relocate to Houston and report to me in his new role.

To assist with transition issues and special projects, Mike has agreed to stay on board for several months as Managing Director and Special Counsel to the Chairman and will continue to report to me.

Please join me in congratulating Drew on his new assignment and thanking Mike for his many contributions to ETS and Enron.


The California site is now up on the enron.home.com website. It is located on
the right hand side of the website.

California Power Deregulation What's going on with California's deregulated
electricity market?


Jim,

I understand that unfortunately you are not able to meet with Keith next
week.  In view of this I attach a note which sets out our logical arguments
for not remaining part of a global programme.

To answer some of your questions more specifically:

We have got an indication of current market premiums from our broker, Steve
Wynne (he has not alerted the market).  Steve has been our broker since 1994
and until recently worked for JLT.  He now has his own company (Kingsbridge)
but retains a business arrangement with JLT.  Steve has extensive knowledge
of the UK water industry and has serviced Wessex to a very high standard
over the years.  Steve would use all the major UK carriers to establish a
programme but I would expect using Royal Sun Alliance and Winterthur at
least (as we have previously done) as they are very active in the UK water
sector.  We do not have any intentions to use a captive (our existing one is
currently being liquidated) as in essence there are very little advantages
of doing so.

Steve and Wessex have just begun the renewals process for the local
policies.  Also understand Steve contacted McGriff about global policy
renewals but got very little response.

All renewals are less than 3 months away and information gathering is
beginning.  Suggest we need to resolve this issue over the next few weeks.

Wessex recognises it is a subsidiary company and Enron has significant
buying power.  However for the reasons set out we still think it makes more
sense to have its own standalone programme topped up by Enron if needs be.

I am happy to discuss or meet on any of this.

Mark

-----Original Message-----
From: James.L.Bouillion@enron.com [mailto:James.L.Bouillion@enron.com]
Sent: 18, September ,2001 17:36
To: mark.watts@wessexwater.co.uk; mark.watts@wessexwater.co.uk
Cc: Rod.Hayslett@enron.com; Paul.Clayton@enron.com;
Earline.Kendall@enron.com
Subject: RE: Wessex Insurance's

           I will be happy to meet with Mr. Harris.  I do have travel plans
for the first week in October.  Hopefully, I will be here during his visit.
Please advise when you have definitive dates.

      -----Original Message-----
     From:   Mark Watts <mark.watts@wessexwater.co.uk>@ENRON

[mailto:IMCEANOTES-Mark+20Watts+20+3Cmark+2Ewatts+40wessexwater+2Eco+2Euk+3E
+40ENRON@ENRON.com]

     Sent:   Tuesday, September 18, 2001 7:06 AM
     To:     Bouillion, James L.; Mark Watts
     Cc:     Hayslett, Rod; Clayton, Paul; Kendall, Earline
     Subject:  RE: Wessex Insurance's

     I am more than happy to answer these questions. However my boss, Keith
     Harris Director of Finance and Regulation, is going to be in Houston
     in a
     couple of weeks and I believe he is going to try and meet with you as
     a face
     to face discussion will probably prove more beneficial.

     -----Original Message-----
     From: James.L.Bouillion@enron.com [mailto:James.L.Bouillion@enron.com]
     Sent: 12, September ,2001 20:54
     To: mark.watts@wessexwater.co.uk
     Cc: Rod.Hayslett@enron.com; Paul.Clayton@enron.com;
     Earline.Kendall@enron.com
     Subject: RE: Wessex Insurance's

     The "trade" with the parents and associated companies is really an
     allocation of premium as opposed to a purchase from the parent.  There
     was
     a separate insurance program purchased to cover all the Azurix assets
     and
     the premium was allocated to the participants.  Wessex received a
     portion
     of the premium through the allocation.  Due to our extensive regulated
     pipeline system, we are familiar with the issues related to the
     regulatory
     scrutiny of allocated premiums.  The pipelines include allocated
     premiums
     in their "rate case" and historically, we have been successful in
     supporting the amounts charged.

     On what are you basing your statement that the Azurix allocation to
     Wessex
     is not competitive?  Have you priced coverage in the market?  I would
     be
     very interested in the information that you have received as our only
     data
     points would be your premium levels when we acquired Wessex.  As you
     will
     recall,  Enron left your program in place initially.  Azurix placed
     their
     own program in December of 1999, and your program was terminated at
     that
     time. (This is only the second year of the Azurix program.)  The
     market has
     "hardened" considerably over the past two years.

     Once the North America assets are sold, the "Azurix" program will be
     remarketed (Dec., 2001) for the four (4) remaining water companies and
     a
     small U.S. exposure, if any remains.  This would be a portfolio of
     assets
     with similar operations and I would not anticipate  Wessex supporting
     the
     rest of the Azurix program.  We could also consider providing coverage
     under the Enron program, if it fits.

     If you have not gone to the market, how would you propose doing so in
     order
     to secure stand alone pricing?  What brokers and markets would you
     plan to
     use?  Do you plan to return to using a captive for certain coverages?

     Please advise.

           -----Original Message-----
          From:   Mark Watts <mark.watts@wessexwater.co.uk>@ENRON

[mailto:IMCEANOTES-Mark+20Watts+20+3Cmark+2Ewatts+40wessexwater+2Eco+2Euk+3E
     +40ENRON@ENRON.com]

          Sent:   Thursday, September 06, 2001 4:00 AM
          To:     Bouillion, James L.
          Subject:  Wessex Insurance's

          Jim,

          Thanks for your e-mail of 8 August informing us that a decision
     had
          been
          made to keep Wessex insurance's under the existing Azurix global
          programme,
          or to ultimately absorb the whole of Azurix into an Enron
     programme.
          Whilst
          we understand this, we are concerned that a continuation of the
     global
          policies, at the current cost to Wessex, will raise some
     regulatory
          problems
          for us in the UK.

          Our Licence requires us to report trades with parents and
     associated
          companies, and to demonstrate that any such trades are undertaken
     at
          arms
          length.  Moreover we are required to periodically test such
          arrangements.
          Clearly this has not been done in respect of Insurance.

          Even more worrying is the fact that the cost of the Global
     insurance
          programme to Wessex is simply not competitive.  The current level
     of
          premiums we pay, when added to the much higher excess levels we
     incur,
          are
          in excess of what we could arrange on a standalone basis.  Going
          forward, if
          Wessex is to support the rest of the Azurix programme, our costs
     can
          only
          but rise.

          In light of these problems we either have to reduce the cost of
     the
          Global
          policies to Wessex or allow Wessex to obtain standalone cover.

          Regards.

          Mark Watts

          Treasurer

     **********************************************************************
          This email and any files transmitted with it are confidential and
          intended solely for the use of the individual or entity to whom
     they
          are addressed. If you have received this email in error please
     notify
          the Wessex Water IT Support Centre on:

          44-1225-528888 or email support@wessexwater.co.uk

          This footnote also confirms that this email message has been
     swept by
          MIMEsweeper for the presence of computer viruses.

          www.mimesweeper.com

     **********************************************************************

     **********************************************************************
     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.
     **********************************************************************

     **********************************************************************
     This email and any files transmitted with it are confidential and
     intended solely for the use of the individual or entity to whom they
     are addressed. If you have received this email in error please notify
     the Wessex Water IT Support Centre on:

     44-1225-528888 or email support@wessexwater.co.uk

     This footnote also confirms that this email message has been swept by
     MIMEsweeper for the presence of computer viruses.

     www.mimesweeper.com
     **********************************************************************

     _____________________________________________________________________
     This message has been checked for all known viruses by the
     MessageLabs Virus Scanning Service. For further information visit
     http://www.messagelabs.com/stats.asp

**********************************************************************
This email and any files transmitted with it are confidential and
intended solely for the use of the individual or entity to whom they
are addressed. If you have received this email in error please notify
the Wessex Water IT Support Centre on:

44-1225-528888 or email support@wessexwater.co.uk

This footnote also confirms that this email message has been swept by
MIMEsweeper for the presence of computer viruses.

www.mimesweeper.com
**********************************************************************

_____________________________________________________________________
This message has been checked for all known viruses by the
MessageLabs Virus Scanning Service. For further information visit
http://www.messagelabs.com/stats.asp


Peggy,

Is it the 4 Points or Eau Claire Sheraton?  I'm trying to book her a room for
Tuesday evening.

Thanks,
Patti x39106

	Peggy Hedstrom
	01/20/2001 09:23 AM

To: Sally Beck/HOU/ECT@ECT
cc:
Subject: Operational Risk Meeting

We are set up for the meeting on Operational Risk on February 6th at 3:00
pm.  We have a room booked at the Sheraton with a set up similar to the
Houston meeting.  I have invited three people from the accounting department
to attend as well.  Laura Scott, Cheryl Dawes, and Dave Hanslip will be the
attendees from accounting.  Everyone is looking forward to meeting with you
to discuss this issue.  So far, the weather is still mild.  Talk to you soon.
Peggy


As of 11:41 am


Re:	Enron Mexico Holdings 4 Ltd.  (Company #24W - EMH4)
	Enron Mexico Holdings 5 Ltd.  (Company #24X - EMH5)
	Enron Mexico Holdings 6 Ltd.  (Company #24Y - EMH6)

The above Cayman Islands companies were being considered for dissolution, but have been recycled by Enron Corp. effective 22 October 2001.

Please share this information with interested parties within your group(s).

Thank you.

Larry Pardue
Supervisor, Corporate Services
     and Assistant Secretary
Enron Corp.
1400 Smith Street, Suite 4804
Houston, TX 77002
Tel  +713 345 5376
Fax  +713 646 8007
email:  larry.pardue@enron.com


FYI.  Appears that the Davis administration has thrown down the gauntlet,
looking to position itself in a way that will allow it to blame the FERC/Bush
administration for California's electricity crisis, unless FERC agrees to the
ISO's price cap plan.

Best,
Jeff

----- Forwarded by Jeff Dasovich/NA/Enron on 03/08/2001 10:41 AM -----

	"Katie Kaplan" <kaplan@iepa.com>
	03/08/2001 10:44 AM

		 To: "'Alex Sugaoka (E-mail)'" <alex.sugaoka@uaecorp.com>, "'Bill Carlson
(E-mail)'" <william_carlson@wastemanagement.com>, "'Bill Woods (E-mail)'"
<billw@calpine.com>, "'Bob Ellery (E-mail)'" <bellery@spi-ind.com>, "'Bob
Escalante (E-mail)'" <rescalante@riobravo-gm.com>, "'Bob Gates (E-mail)'"
<bob.gates@enron.com>, "'Carolyn A Baker (E-mail)'"
<cabaker@duke-energy.com>, "'Cody Carter (E-mail)'"
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'"
<Curt.Hatton@gen.pge.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "'David Parquet'"
<david.parquet@enron.com>, "'Dean Gosselin (E-mail)'"
<dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'"
<fernley.doug@epenergy.com>, "'Douglas Kerner (E-mail)'" <dkk@eslawfirm.com>,
"'Duane Nelsen (E-mail)'" <dnelsen@gwfpower.com>, "'Ed Tomeo (E-mail)'"
<ed.tomeo@uaecorp.com>, "'Eileen Koch (E-mail)'" <eileenk@calpine.com>,
"'Eric Eisenman (E-mail)'" <eric.eisenman@gen.pge.com>, "'Frank DeRosa
(E-mail)'" <frank.derosa@gen.pge.com>, "Frazier Blaylock (E-mail)"
<frazier_blaylock@ogden-energy.com>, "'Greg Blue (E-mail)'"
<gtbl@dynegy.com>, "'Hap Boyd (E-mail)'" <Hap_Boyd@enron.com>, "'Hawks Jack
(E-mail)'" <jack.hawks@gen.pge.com>, "'Jack Pigott (E-mail)'"
<jackp@calpine.com>, "'Jim Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe
Greco (E-mail)'" <jgreco@caithnessenergy.com>, "'Joe Ronan (E-mail)'"
<joer@calpine.com>, "'John Stout (E-mail)'" <john_h_stout@reliantenergy.com>,
"'Jonathan Weisgall (E-mail)'" <jweisgall@aol.com>, "'Kate Castillo
(E-mail)'" <CCastillo@riobravo-gm.com>, "'Kelly Lloyd (E-mail)'"
<kellyl@enxco.com>, "'Ken Hoffman (E-mail)'" <khoffman@caithnessenergy.com>,
"'Kent Fickett (E-mail)'" <kfickett@usgen.com>, "'Kent Palmerton'"
<kent.palmerton@williams.com>, "'Lynn Lednicky (E-mail)'"
<lynn.a.lednicky@dynegy.com>, "'Marty McFadden (E-mail)'"
<marty_mcfadden@ogden-energy.com>, "'Paula Soos'"
<paula_soos@ogden-energy.com>, "'Randy Hickok (E-mail)'"
<rjhickok@duke-energy.com>, "Rick S. Koebbe (E-mail)"
<rskoebbe@powerworksinc.com>, "'Rob Lamkin (E-mail)'"
<rllamkin@seiworldwide.com>, "'Roger Pelote (E-mail)'"
<roger.pelote@williams.com>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>,
"'Stephanie Newell (E-mail)'" <stephanie-newell@reliantenergy.com>, "'Steve
Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'"
<steve_ponder@fpl.com>, "'Susan J Mara (E-mail)'" <smara@enron.com>, "'Tony
Wetzel (E-mail)'" <twetzel@thermoecotek.com>, "'William Hall (E-mail)'"
<wfhall2@duke-energy.com>
		 cc: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'"
<andybrwn@earthlink.net>, "'Bob Weisenmiller (E-mail)'" <rbw@mrwassoc.com>,
"'Jan Smutny-Jones (E-mail)'" <smutny@iepa.com>, "'Jean Munoz (E-mail)'"
<jmunoz@mcnallytemple.com>, "'Jeff Dasovich (E-mail)'"
<Jeff.Dasovich@enron.com>, "'John Larrea (E-mail)'"
<john.g.larrea@williams.com>, "'Julee Malinowski-Ball (E-mail)'"
<jmball@ns.net>, "'Kassandra Gough (E-mail)'" <kgough@calpine.com>, "'Katie
Kaplan (E-mail)'" <kaplan@iepa.com>, "'Kristin Vellandi (E-mail)'"
<kvellandi@pstrategies.com>, "'Lynn Lednicky (E-mail)'" <lale@dynegy.com>,
"Marie Moretti (E-mail 2)" <mmoretti@mccabeandcompany.net>, "'Marty Wilson
(E-mail)'" <mwilson@pstrategies.com>, "'McNally Ray (E-mail)'"
<rmcnally@mcnallytemple.com>, "''Nam Nguyen' (E-mail)'"
<nam.nguyen@powersrc.com>, "'Norton Kelli (E-mail)'"
<knorton@mcnallytemple.com>, "'Paula Hall-Collins (E-mail)'"
<paula.hall-collins@williams.com>, "'Richard Hyde (E-mail)'"
<rwhyde@duke-energy.com>, "'Theo Pahos (E-mail)'" <tpahos@ppallc.com>, "'Tom
Ross (E-mail)'" <tross@mcnallytemple.com>
		 Subject: FW: CAISO Notice - Draft Market Stabilization Plan

Greetings:
Late last night the ISO released a Market Stabilization plan that would
essentially impose cost based pricing control caps and apply a strict
California First Policy.

Here's ISO's 3-page sketch to impose cost-based pricing intended to control
costs on consumers on very short order.  Unit-specific cost-based bid caps
will apply to ISO markets.  ISO will have dispatch control over all CA
generation.  Capital costs and return appear to be excluded from the bid
caps.  ISO will pick of the day-ahead and day-of energy markets lot to the
demise of CalPX, thus ending the "market separation."  There appears to be
language that intimates direct unit dispatch, but the document is very thin
on this. ISO proposes payments based either on the "as-bid" up to unit bid
cap, or apparently a uniform market-clearing price based on marginal units
cap.  Out of state resources are paid California capped rates.  Settlement
will be on numbers other than those posted (so much for transparency).
There's looking to procure AS based on optimization, although this is not
spelled out well (it appears that self-provision is gummed up completely).

To prevent "MW Laundering" CA will required in-area generation to make all
capacity
available whenever Stage 1 or higher emergency (i.e., reserves below 7%).
This California
First! rule means the generation must be scheduled against CA loads or bid
into day-ahead
market.  If you don't bid your bid cap is applied.  There will be a capacity
element
similar to RMR.  This change will require FERC buy-in, which obviously will
be
litigation-central, and its likely to create a cascade of similar
requirements from other
states ...

Thanks Andy for the quick summary!

IEP will monitor the Friday call and review all documents to let people know
what is happening.

Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499

-----Original Message-----
From: Woertz, Byron [mailto:BWoertz@caiso.com]
Sent: Wednesday, March 07, 2001 6:40 PM
To: ISO Market Participants
Subject: CAISO Notice - Draft Market Stabilization Plan

                ISO Market Participants:
                Attached is the ISO's draft market stabilization plan.  This
document will be the basis of our conference call on Friday, March 9th at
10:00.
                 <<Market Stabilization Draft 010307.doc>>
                Byron B. Woertz, Jr.
                Director, Client Relations
                (916) 608-7066

 - Market Stabilization Draft 010307.doc


The Enron Oral History Project: Why?

The history of Enron is being told by the people who created it.  Come to a
lunch break and learn about The Enron Oral History Project.

Speakers:
Joseph Pratt, Cullen Professor of Business and History, University of Houston
Rob Bradley, Director, Public Policy Analysis, Enron Corp.

Friday, April 20
11:30 a.m. to 12:30 p.m.
EB 5 C2

To Make a Reservation, Call 3-1941 and Select Option 1

Please inform us ahead of time if you need special accommodations to
participate in this meeting.  Call 3-9390.

Lunch will not be provided, but you are welcome to bring your own.


----- Forwarded by Richard B Sanders/HOU/ECT on 11/29/2000 11:28 AM -----

	Ann M Schmidt@ENRON
	11/29/2000 10:59 AM

		 To: Richard B Sanders/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT, Cedric
Burgher/Corp/Enron@ENRON, Mark Palmer/Corp/Enron@ENRON, Karen
Denne/Corp/Enron@ENRON, Vance Meyer/NA/Enron@ENRON, Steven J
Kean/NA/Enron@Enron
		 cc:
		 Subject: Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses

Lawsuit Filed In San Diego Vs Enron For Power Mkt Abuses

11/29/2000
Dow Jones Energy Service
(Copyright (c) 2000, Dow Jones & Company, Inc.)

LOS ANGELES -(Dow Jones)- A second lawsuit is being filed in San Diego
Superior Court Wednesday against Enron alleging the company, and others,
overcharged California consumers more than $4 billion for electricity
service.
On Monday, a similar suit was filed against Dynegy Inc. (DYN), Reliant Energy
Inc. (REI), Duke Energy North America (DUK), Southern Energy Company (SO),
AES Corp., Williams Energy and NRG Energy. Both lawsuits are seeking class
action status and may be consolidated into one complaint.
The complaints allege unfair trade practices and illegal trust activity. A
news conference announcing the details of the lawsuit will be held Wednesday
morning in San Diego.
Enron does not own or operate major generating units in the state, but is
active in trading electricity here and securing long-term fixed rate
contracts for large industrial customers. At times, Enron sells power back
into the California Power Exchange, the market where power is bought and sold
in the state.
An Enron representative said he has not yet seen the lawsuit and was unable
to comment.
The lawsuits claim Enron and the other energy companies withheld power supply
last summer, created shortages by selling power out of state and used
real-time confidential data about power plant activity to drive up prices.
The lawsuits are an attempt to force generators to refund about $4 billion
for electricity, the amount consumers were allegedly overcharged. -By Jason
Leopold; Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com

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


Hey - fantastic news.  I am so pleased - take it easy.

Louise

ps all still crap here

 -----Original Message-----
From: 	Tom and Anna Briggs <mail@briggsathome.com>@ENRON
Sent:	Wednesday, January 09, 2002 10:12 AM
To:	Kitchen, Louise
Subject:	Thinking of you!

Louise

I hope you and the family managed to get home for Christmas - I know Swift thought it was uncertain when we last spoke to you.  Judging from the papers, you must be in the thick of it - I hope you do better than BP's published offer for the Enron Online software!

If things don't work out and you find yourself homeward bound, spare a moment to ensure than any taxes due to be paid by Enron are up to date - we have been struggling to get someone to focus on a UK tax liability created in April 2000 when Tom exercised options (in the US) and for which a much greater US dollar tax withholding was made by Enron at the time - but no-one bothered to pay the Inland Revenue!  It seems that we are making some progress at last in that it is being submitted to the Cash Management Committee for consideration - do you know whether its possible to lobby that body???!

Best wishes to you all - just got back from Gymboree's exercise class for 2 year olds!  Tom is at his career transition counselling service - I've got my fingers crossed that his next career isn't too bizarre!

Anna


Who's the target audience and how is it being distributed?

Louise Kitchen
09/14/2000 11:50 AM
To: Hunter S Shively/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, John
Arnold/HOU/ECT@ECT
cc: Andy Zipper/Corp/Enron@Enron, gwhalle@enron.com
Subject: .exe file - infomercial

Just wondering what you think of this?


FYI.  Andrea look at the clipping on CGC.
---------------------- Forwarded by Brent Hendry/ENRON_DEVELOPMENT on
01/03/2000 07:46 AM ---------------------------

Alexandre Bueno
29/02/2000 06:00 PM
To: Michael Guerriero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Pablo
Acevedo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bernardo
Andrews/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Diego
Hollweck/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John J
Shoobridge/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gabriela
Aguilar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rodolfo
Freyre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Julian
Poole/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cristian
Folgar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Brent
Hendry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Andrea
Calo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marta
Ortiz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Luis
Juarros/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Guillermo
Canovas/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Clipping 02/29/2000

BRAZIL: MEETING OF MAE ON FEBRUARY 29TH
Gazeta Mercantil, 29 Feb 2000, p. A-15:-
 Companies which are part of the MAE (Electricity Wholesale Market) will hold
a general meeting on February 29th 2000 with the intention to discuss the new
rules for the operations of the sector.
The companies will discuss, for example, one resolution taken on February
25th which concedes credits for the companies and other which increases the
number of available plants to operate in peak periods.

BRAZIL: RURAL ELECTRIFICATION IN RIO DE JANEIRO
Gazeta Mercantil, 29 Feb 2000, p. a-13:-
 According to the president of the Brazilian electricity company Cerj,
Alejandro Danus, the company has already informed the Brazilian Ministry of
Mining and Energy that it will join the rural electrification program 'Luz no
Campo' of the ministry, expecting to sign the contract in 15 days.
The two other electricity concessionaires which operate in the state of Rio
de Janeiro had already agreed to join the program, but Cerj took longer to
reach the same decision because it was analysing which technology should be
used in its concession area. Cerj is expected to invest R$ 60mn in the area,
mainly in the north of the state, benefiting 30,000 families which still do
not have access to electricity.

BRAZIL ANGRA-2 TO START OPERATIONS
Folha de S.Paulo, 27 Feb 2000, p. 1-14:-
 The Brazilian National Nuclear Energy Commission (Cnen) established the
deadline of March 15th 2000 to release an authorisation for the operation of
the nuclear power station Angra 2 of the Brazilian state-owned nuclear
electricity company Eletronuclear in the Brazilian city of Angra dos Reis
(state of Rio de Janeiro).
With the authorisation, Angra 2 can begin to charge its reactor, testing and
inspecting safety after that. If everything is successful, the power station
ill begin to generate electricity in the end of April 2000 and generating
1,245 MW 3 months after that. But this time may be much longer, considering
that the previous nuclear power station Angra 1 took more than 3 years to
operate commercially after the charging.

BRAZIL: ELETROSUL IN POWER TRANSMISSION LINE
Gazeta Mercantil, 29 Feb 2000, p. a-13:-
 Groups which want to compete in the tender for the construction of a power
transmission line between the Brazilian cities of Campos Novos and Blumenau
(state of Santa Catarina) must be qualified until March 15th 2000.
The company Eletrosul, a subsidiary of the Brazilian state-owned electricity
company Eletrobras, will compete in the tender alone (not participating in
any consortium).
Eletrosul signed pre-contracts with the companies ABB (Asea Brown Boveri) and
Siemens which will conduct works and supply equipment (Eletrosul will operate
the lines).

ARGENTINA: IMPACT OF POWERGEN'S ACQUISITION
El Cronista Comercial, 29 Feb 2000, p. 15:-
 With the acquisition of US-based LG&E Energy for US$ 5.4bn, UK-based
PowerGen will become the owner of stakes in Argentina's gas distribution
companies Gas Natural BAN, Distribuidora de Gas del Centro and Cuyana. LG&E
has 1mn clients in Kentucky, Virginia, Spain and Argentina.

BRAZIL: FREE IMPORT OF FUEL POSTPONEMENT
O Estado de S.Paulo, 26 Feb 2000, p. b-1:-
 The Brazilian executive-secretary of the Ministry of Treasury, Amaury Bier,
declared on February 25th 2000 that the Brazilian market of oil and
derivatives will be opened only in January 2001, and not in August 2000, as
predicted in the Oil Law.
The federal government will propose the change of this date to the Congress
through a draft law.
The reason for this measure, according to Bier, is that the oil sector is
currently too confused. He also informed that the government did not create a
substitute for the Specific Price Parcel (PPE) yet. The PPE is the part of
the fuel price which maintains the oil account.

BRAZIL: INCREASE OF FUELS PRICES
O Estado de S.Paulo, 26 Feb 2000, p. B-1:-
 The executive-secretary of the Brazilian Ministry of Treasury, Amaury Bier,
announced on February 25th 2000 that the following fuels will have their
prices increased on March 1st 2000:
- gasoline and diesel oil by 7% in the refineries and
- kerosene for aircraft by 23%.
According to government estimations, this increase of gasoline prices in
refineries will result in an increase by 5% in gas stations, for final
consumers. The increase of the kerosene will result in an increase by 3% in
flights tickets prices.

BRAZIL: OIL SPILLAGE IN PARA
Folha de S.Paulo, 29 Feb 2000, p. 3-8:-
 The Brazilian subsidiary of the American oil company Texaco will keep
cleaning the river Para probably by the first weekend of March 2000.
The company already removed 25% of the total 1.9 tonnes of fuel BPF spilled
in the river.

ARGENTINA: LOWERING TAXES, IMPOSSIBLE FOR NOW
El Cronista Comercial, 29 Feb 2000, p.2:-
 Officials at the Argentine Revenue Service warn that it would be impossible
to lower taxes for now. Many are requesting that fuel and value added taxes
be lowered but this would mean US$ 2bn less in government revenues. When
considering the government fiscal deficit, it is easy to understand why the
government must look toward solutions that would increase tax collection and
not reduce it.

ECUADOR: EDC PLANS TO EXPLOIT GAS
El Comercio (Ecuador), 29 Feb 2000, p. 1:-
 The firm, Energy Development Corporation (EDC) announced that it will invest
some US$ 100mn in a project to exploit natural gas in the coastal zone of
Ecuador. Drilling is scheduled to begin in May 2000 with production entering
the first phase in the 3rd quarter of 2001 with 32mn cubic feet daily, enough
to generate 204 megawatts of electrical energy.

SPAIN: REPSOL YPF'S STRATEGIC PLANS
Cinco Dias, 29 Feb 2000, p.5:-
 Spanish oil operator Respsol YPF, which has broken its agreement with
Spanish electricity operator Iberdrola, intends to operate in the electricity
market in countries where it is active in gas business, particularly
Argentina, Brazil and Spain.
On the other hand, negotiations between Repsol YPF and Italian oil operator
ENI (Ente Nazionale d'Idrocarburi) are taking place.  In any case, eventual
agreements will be implemented when ENI's privatisation process will conclude.
Additionally, the Spanish group expects to reduce nearly Euro 520mn costs by
2002, mainly through workforce reduction.

ARGENTINA: SALE OF CGC
La Nacion (Argentina), 29 Feb 2000, p. 2/1:-
 The investment banks Dresdner Kleinwort Benson and Dresdner Bank are close
to a contract to take charge of the sale of a 51% stake in the Argentine oil
company Compania General de Combustibles (CGC), owned by Sociedad Comercial
del Plata (Soldati group).

BOLIVIA: CHACO SEEKS NEW CLIENTS
Los Tiempos (Bolivia), 29 Feb 2000, p. on line:-
 Bolivia's oil and gas firm Chaco announced it is concentrating its efforts
on gaining new clients for the gas it plans to trade from Bolivia to Brazil.
The firm will place in Brazil 30mn cubic metres of gas per day during a
20-year term, according to the contract it signed with the Brazilian
government. Early in 1999, Chaco was negotiating a contract with Pan American
Energy which failed due to the opposition of YPF, the Argentine oil company.

BOLIVIA/BRAZIL: COMPANIES TO TRADE GAS
El Diario (Bolivia), 29 Feb 2000, p. on line:-
 Bolivia's oil and gas company YPFB informed eight firms will export some
9.1mn cubic metres of gas per day from Bolivia to Brazil during the year
2000, according to the terms fixed in the contract signed between both
countries. The amount to be traded per company is as follows:

Firm     Cubic metres per day

Andina     1.86mn

Chaco     1.52mn

Tesoro (British Gas)   1.43mn

Vintage     1.36mn

Perez Companc   1.21mn

Petrobras    0.8mn

Maxus     0.67mn

Dong Won    0.25mn

TOTAL     9.1mn


The In-Focus Projector has been set up as a "Resource" in the Portland
Conference Room Calendar.  Because of the high demand for use of the In-Focus
Projector, it is important that you reserve it on the calendar in advance.

Reservation of the In-Focus machine will be for the projector only.  If you
need a laptop as well, contact IT.  To ensure it is available when needed,
please have your assistant reserve it in advance.

Thanks for your cooperation with this new procedure.

Teri Whitcomb - X7794.


Sanjay, thanks.
mike

Sanjay Bhatnagar@ENRON_DEVELOPMENT
11/14/2000 11:00 AM
To: Anil Swani/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Rick Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mac
McClelland/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mike McConnell/HOU/ECT@ECT
Subject: Re: EBS business development in the Middle East

Rick:

I received a message from Mike McConnell yesterday about co-ordination in
the middle east. I think ur experiences with EBS relate to some people who
may have visited ur region before I took over. I do not think that u will
have a problem working with Anil. He understands the sensitivities and has
worked in the Middle East earlier for over 5 years. I have asked him to
co-ordinate with ur team. Pls help him get started.

Sanjay

	enron india

	From:  Anil Swani                           11/14/2000 12:41 AM

To: Rick Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mac
McClelland/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: EBS business development in the Middle East

Dear Rick,

You might remember me; we met in September when you visited Metgas in Mumbai
with the LNG team. At the time I presented a piece on the MetGas equity sale
and opportunities of cooperation with the Indian Oil Company.

Following Sanjay's new role in the organisation, he has now charged me with
developing the EBS business in the Middle East. In this regard I had a
telecon with Mac McClelland yesterday, the details of which are copied in the
mail below.

I would like to visit Dubai possibly next week to see the Dubai Internet
City, meet with senior officials at the Internet and Media cities to identify
what opportunities there could be for EBS.

We look forward to closely cooperating with you and your team in Dubai.

With best regards,   Anil
****************************************

	enron india

	From:  Anil Swani                           11/13/2000 12:40 PM

To: Mac McClelland/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Rory Bonafe/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Amr
Ibrahim/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sanjay
Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT

Subject: Conference call regarding Middle East EBS support

Mac,

You would be aware that Sanjay Bhatnagar has been given the responsibility of
managing EBS business in the Middle East and Asia and our team reports
directly to him. We are currently wanting to develop an EBS strategy for the
Middle East. For this objective Amr Ibrahim (Director, Regulatory) and myself
would like to plan a visit to Dubai in the near future (possibly early next
week). We would like to have a half hour conference call with you today to
discuss this visit. Based on your exposure and presence in Dubai, we would
like to seek advise from you on the below, which would be the objective of
our trip;

Dubai Internet City. We are well aware of this tremendous infrastructure that
has been developed in Dubai. Our information is based on what was available
on the web. We would like to see this facility, meet with the relevant people
in the Communications group and establish what business opportunities could
be available for EBS. From our understanding, the DIC infrastructure has
being developed by Siemens, Sun and Cisco. Fibre connectivity is provided by
a local telecom party.
Business potential. We would be developing a business plan for the Middle
East region and would like to identify what support we could get from Enron's
immendate presence in the region, in the way of direction.
Immediate business opportunity. What are the low hanging fruit for EBS in the
Middle East region and what are the first areas we should focus on that would
give us success, to quickly neutralize cost.
How do we get multiple entry visas for Dubai. Is it possible to get a one (or
three) month visa. Can we them for coming Sunday or would it be a rush? We
have Canadian and Danish passports.

I will call you at 12 noon (Dubai time) this morning.

With best regards,   Anil


fyi
---------------------- Forwarded by Scott Neal/HOU/ECT on 08/21/2000 12:08 PM
---------------------------

	Enron North America Corp.

	From:  Kevin M Presto                           08/21/2000 09:45 AM

To: Scott Neal/HOU/ECT@ECT
cc:
Subject: New England Gas Study - Scope of Work

NE-ISO is performing a very detailed gas study for the NE market (for
electric supply reliability purposes).  As a NEPOOL member, we will get a
copy of this study which will have great supply and demand information for
the NE market area.

I will get you a copy when the study is completed.
---------------------- Forwarded by Kevin M Presto/HOU/ECT on 08/21/2000
09:32 AM ---------------------------

Daniel Allegretti@EES
08/21/2000 09:27 AM
To: NEPOOL Power Trading Group
cc:
Subject: New England Gas Study - Scope of Work

FYI,  ISO-NE will be conducting a gas study.

---------------------- Forwarded by Daniel Allegretti/HOU/EES on 08/21/2000
10:26 AM ---------------------------

"Conway, Nancy" <nconway@iso-ne.com> on 08/18/2000 12:32:03 PM

To:	NEPOOL Reliability Committee <relcomm@iso-ne.com>
cc:

Subject:	New England Gas Study - Scope of Work

TO:  NEPOOL Reliability Committee Members and Alternates

Please note below (from Richard Burke):

Based on the request of the NEPOOL Reliability Committee at the August 15-16
meeting, the Scope of Work for the ISO's project entitled, "The New England
Gas Study" is forwarded for your information.  If the Members & Alternates
of the NEPOOL Reliability Committee  have any questions or comments
regarding the ISO's "New England Gas Study Project," please feel free to
contact either:

  Mr. Peter Wong - 413-535-4172  or  pwong@iso-ne.com
  or
  Mr. Mark Babula - 413-535-4324 or mbabula@iso-ne.com

 <<Gas Study SOW for NEPOOL RC.doc>>
Thank you.
Rich Burke
Admin. Assist.
Markets Development
ISO New England Inc.
e-mail:  nconway@iso-ne.com
phone:  413/535-4332
fax:  413/540-4226

 - Gas Study SOW for NEPOOL RC.doc


549052 - del. point is already in as Mid-C, so just the price is wrong?

Evelyn Metoyer@ENRON
03/13/2001 03:06 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: Re: 3/13 Checkout

SORRY I gave you the incorrect deal number for this error.  Should be deal
549052.

original error:
Diana Scholtes
deal 549053    549052
Prebon shows price as $141 and delivery pt as Mid-C

Diana Scholtes
Prebon broker said our price (215) and del. point (Cob) are right

S

   Kate Symes @ ECT                03/13/2001 04:39 PM

To: Evelyn Metoyer/Corp/Enron@ENRON
cc:

Subject: Re: 3/13 Checkout

Prebon
Sean Crandall
549048 - changed to NP

Diana Scholtes
Prebon broker said our price (215) and del. point (Cob) are right

Jeff Richter
549013 - changed to APB

549010 - enron buys BP/Apr01/NP/peak/207.00 (in with Amerex - should it be
Prebon?)

Chris Mallory - just entered Williams deal

Evelyn Metoyer@ENRON
03/13/2001 02:27 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 3/13 Checkout

AMEREX
All deals checked out fine

PREBON

Sean Crandall
deal 549048
Prebon shows del. point as NP-15

Diana Scholtes
deal 549053
Prebon shows price as $141 and delivery pt as Mid-C

Jeff Richter
deal 549013
Prebon does not recognize

I am missing the following:
1) Enron buys from BP Energy 25 mw of April'01 NP-15 peak hrs at $207
2) Enron buys Williams 25 mw of SP-15 of April'01 off-peak hrs at $107

BLOOMBERG
All deals checked out fine.


Lisa,
For Gas Day 9 please deliver 3,000 MMBtu into Northern Gas to GID #32.

This would make the deliveries to Lost Creek 17,000 on original purchase and 1850 additional.

Please call me if you have any questions.

Thanks,
Theresa
(303) 575-6485


INDIAN GOVT DISMISSES ENRON THREAT TO CLAIM DAMAGES
Asia Pulse, 09/24/01
DPC unable to pay $20 m to lenders
The Times of India, 09/24/01
INDIA: Enron gets impatient as Indian unit's row lingers.
Reuters English News Service, 09/24/01
UK: Big oil, Gulf states press ahead on major deals.
Reuters English News Service, 09/23/01
India: DPC defaults on interest payments
Business Line (The Hindu), 09/23/01
India: NCP meet to discuss Enron?
The Hindu, 09/22/01
India: Govt legal team for Enron arbitration quits
Business Line (The Hindu), 09/22/01
Net Data Hosting has the potential
The Times of India, 09/22/01
Enron probe were watered down at NCP's behest
The Times of India, 09/22/01
SC stays encashment of MSEB letter of credit by Dabhol
The Times of India, 09/22/01
Bush Proposes Lifting Sanctions on Pakistan
KRTBN Knight-Ridder Tribune Business News: The Washington Times - Washington, D.C., 09/22/01
ENRON INDIAN UNIT DEFAULTED ON PAYMENTS; ENERGY
San Jose Mercury News, 09/22/01
CONSUMERS WILL SEEK REVIEW OF PGE RATES
Portland Oregonian, 09/22/01

INDIAN GOVT DISMISSES ENRON THREAT TO CLAIM DAMAGES

09/24/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.

NEW DELHI, Sept 24 Asia Pulse - The Indian government has dismissed threats by United States-base Enron to claim Rs 240 billion in damages for the cancellation of contracts with the US$2.9 billion Dabhol Power project.
"If somebody issues a threat he is not showing the muscle. He is only showing the lack of it," Finance Minister ashwant Sinha told PTI here. Enron Corp. Chairman Kenneth Lay had last week claimed that the liability of the Centre, Maharashtra and State Electricity Board would be US$5 billion in case it terminated the contract.
Stating that federal government was not party to the dispute, Sinha said Centre's involvement with project, which is currently involved in a payment dispute with its sole buyer Maharashtra State Electricity Board (MSEB), is limited to counter-guarantee to the 740 MW Phase-I only.
"The parties to the dispute are Maharashtra government, its state electricity board (MSEB) and Dabhol Power Company (DPC). Government of India is not party to the dispute. It is involved because of larger national consideration in mind and the fact that we have counter-guaranteed the Ist Phase," he said.
Centre's counter-guarantee does not cover 1,444 MW second phase. It (Phase-II) is an agreement between Maharashtra government and the DPC, Sinha said adding "we have tried to bring the warring parties together. Our approach has been more constructive and solution oriented and find a generally acceptable solution to the problem."
(PTI)
24-09 1823

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

DPC unable to pay $20 m to lenders

09/24/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

MUMBAI: The U.S. energy major Enron's Dabhol Power Company (DPC) defaulted for the first time towards interest payments of $20 million, for its 1,444 MW phase II due to its international lenders this month.
``The DPC has defaulted on debt obligations for offshore loans pertaining to phase-II,'' company spokesperson said here on Sunday night.
He said, the U.S. energy major's payments to the Indian lenders were due end of this month.
``We had asked for additional funds from the FIs, but have not heard from them as yet,'' he said.
On September 14, DPC's senior counsel and former Indian finance minister P. Chidambaram had informed the Mumbai high court that the multinational had payment obligations worth $20 m. scheduled for the same day and September 19.
Recently, the U.S. energy major had tried to invoke letter of credit (LC) worth Rs 136 crore forwarded to it by its partner, the Maharashtra State Electricity Board.
The energy major said it had held the LC in reserve over the last few months for judicious utilisation towards care and preservation of the plant, for repaying principal and interest owing to its lenders, including Indian FIs.
``DPC will now be limited in its ability to continue both debt repayment and asset preservation,'' the spokesperson warned.
The IDBI-led Indian FIs have a Rs 6,204 crore exposure to the project which is 96 per cent complete, while that of foreign lenders was up to $444 m. (PTI)

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

INDIA: Enron gets impatient as Indian unit's row lingers.

09/24/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW DELHI, Sept 24 (Reuters) - U.S. energy firm Enron Corp sees no early solution to its bitter dispute with a local utility despite an assurance from Prime Minister Atal Behari Vajpayee that New Delhi will step in to resolve the row.
The company wrote to Vajpayee more than a month ago with an offer to sell its 65-percent stake in Dabhol Power Co but the federal government has not responded, Enron India spokesman Jimmy Moghal told Reuters on Monday.
"It's been more than a month since we have communicated to government authorities and have yet to receive any response."
He said Enron Chairman Kenneth Lay had written another letter to New Delhi expressing "disappointment" at the lack of progress.
The company wrote to Vajpayee saying a long legal dispute would "raise serious questions about India's image as a safe and relialbe destination for foreign investment", Moghal said.
Earlier this month, Vajpayee said the federal government would facilitate a quick solution to Enron's dispute with the Maharashtra State Electricity Board (MSEB), which was the sole buyer of Dabhol's power.
But Enron is not optimistic.
"Contrary to recent impressions created...regarding a quick resolution of the Dabhol project, little progress has so far been made with, in fact, no proximity to reaching a fair and reasonable solution," it said in the statement.
The Times of India said Kenneth Lay wrote in his letter to Vajpayee that foreign investors would doubt the sanctity of contracts signed in India.
"Any other foreign investor or lender is going to ask himself why his contract is any more likely to be honoured than ours has been," it quoted Lay as saying.
Moghal declined comment on the newspaper report.
Enron says India may face $5 billion in liabilities for violating contractual obligations.
In May, Enron issued a preliminary notice to MSEB to terminate the contract. That move put in place a six-month deadline for the two to work out differences or the contract would be terminated.
The six-month period expires on November 19 after which Enron would decide on issuing a final termination notice.
"Consideration will be taken after November 19 whether or not we will move towards final termination, which would then lead to arbitration," Moghal said.
The first phase of the $2.9-billion project, with a generating capacity of 740 MW has been idle since May when MSEB stopped buying power. The second phase, which will add 1,444 MW of capacity, is 97-percent complete.

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

UK: Big oil, Gulf states press ahead on major deals.

09/23/2001
Reuters English News Service
(C) Reuters Limited 2001.

DUBAI, Sept 23 (Reuters) - Western energy firms and Gulf Arab states are motoring on with multi-billion dollar gas investment deals amid concern that the strategic region could turn volatile after hijack attacks on the United States.
"Business as usual" is the mantra murmured by all involved in the high-profile Saudi gas initiative, which requires initial investment of some $25 billion to develop the kingdom's massive gas sector, Western and Saudi industry sources said on Sunday.
The chorus is much the same on the $3.5 billion Dolphin Energy Ltd (DEL) project to channel Qatari gas to the United Arab Emirates.
"Everything is going on as scheduled," said an executive of the Saudi gas scheme. "We're working non-stop towards the next milestone.
The kingdom in May selected U.S. firms ExxonMobil, Marathon, Occidental, Phillips and Conoco, France's TotalFinaElf, Britain's BP and Anglo-Dutch major Royal Dutch/Shell to take part in the massive project which ranges from upstream gas exploration to downstream construction of power plants.
The kingdom has outlined some terms and conditions for the companies with a view to finalising contracts by the end of the year, industry sources said.
The landmark Dolphin deal is also progressing on schedule. Qatar and DEL still are targetting early October for signing of a final production-sharing pact, a DEL spokesman said.
And the search for a replacement for U.S.-based Enron Corp which in May pulled out of DEL - majority owned by the UAE's Offsets Group (UOG) - is on track.
UOG has invited five international companies to Abu Dhabi from October 6-10 to review the project's technical, commercial aspects with a view to selecting Enron's replacement by year end, the DEL spokesman said.
UOG in August shortlisted ExxonMobil, BP, Royal Dutch/Shell, Conoco and Occidental in the contest to take over Enron's 24.5 percent stake in DEL. TotalFinaElf holds the remaining 24.5 percent share.

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

India: DPC defaults on interest payments

09/23/2001
Business Line (The Hindu)
Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd

MUMBAI, Sept. 22 ENRON'S Dabhol Power Company has defaulted on interest payments to its foreign lenders. This is the first known default by the company, which has been facing a funds crunch after DPC's sole buyer the Maharashtra State Electricity Board stopped power purchases in May this year.
Although the company spokesperson refused to reveal the default amount, DPC's lawyer, Mr P. Chidambaram, had told the Mumbai High Court on September 14 that the company was scheduled to pay $20 million in two installments on September 14 and 19, respectively.
"The defaults have occurred for interest payments to offshore lenders for phase two. So far, we have managed to meet interest obligations for phase one through our reserves," said the DPC spokesperson, Mr Jimmy Mogal.
The company has been facing a shortage of funds after the MSEB stopped buying power from DPC in May this year after it rescinded the power purchase agreement with the company.
Our Bureau

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

India: NCP meet to discuss Enron?
Mahesh Vijapurkar

09/22/2001
The Hindu
Fin. Times Info Ltd-Asia Africa Intel Wire. The Hindu Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd

MUMBAI, SEPT. 21. All the bigwigs of the Nationalist Congress Party, from its leader, Mr. Sharad Pawar, to its MLAs, are meeting at Baramati for a two- day "brainstorming session" to discuss political issues. The "haste" of the Maharashtra Chief Minister, Mr. Vilasrao Deshmukh, and his party in announcing a judicial probe into all aspects of the Enron deal is likely to be discussed.
The meeting follows the Deputy Chief Minister, Mr. Chagan Bhujbal's sudden visit to Baramati to brief Mr. Pawar of the nuances of all the Cabinet Ministers when the appointment of a Commission of Inquiry into the Enron deal was approved. All the left-of-centre allies of the NCP had demanded the inquiry. The NCP too was in favour of a probe but thought the timing was injudicious. Its Ministers said so at the Cabinet meeting but were overruled.
The NCP, which had initially opposed the probe, fell in line due to the pressure of the Left which increasingly isolated it on the issue. The NCP view was that since the Enron-led consortium, which built and operated the Dabhol Power Company, was simultaneously receiving the Centre's attention for a possible fast-track resolution of disputes which could lead to the exit of the DPC with minimal damage to Maharashtra, the Government need not act in haste.
The NCP would have liked the probe announcement to have been made later so that it did not jeopardise the efforts to ensure that the DPC did not take the most convenient option for itself - the arbitration mode - to bill the Maharashtra State Electricity Board $ 5 billion.
Mr. Babanrao Pachpute, Maharashtra's NCP chief, now in Baramati for preparatory meetings with Mr. Pawar, told The Hindu over the phone that the agenda was limited to discussing the party's approach to elections to the local bodies. But other sources did not rule out discussion on Enron.

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

India: Govt legal team for Enron arbitration quits

09/22/2001
Business Line (The Hindu)
Fin. Times Info Ltd-Asia Africa Intel Wire. Business Line (The Hindu) Copyright (C) 2001 Kasturi & Sons Ltd. All Rights Res'd

MUMBAI, Sept. 21 THE team of senior lawyers representing the Maharashtra Government in arbitration proceedings against Enron at the London Court of Arbitration, has walked out of the case citing political pressure and non-cooperation from sections of the State Government.
Sources in the State Government, told Business Line, Mr Srihari Aney, senior Advocate Supreme Court of India, Mr Ashutosh Kumbhakoni and Ms Daftari Pereira and Mr Dewan, returned the brief to represent the State at the arbitration proceedings, citing pressures from within the Democratic Front Government in Maharashtra.
When contacted, Mr Aney confirmed that he and the team of lawyers had "returned the brief" on September 18. He, however, declined any comment on the reasons behind the resignation.
Certain sections of the Democratic Front Government in Maharashtra have allegedly opposed the advice given by the lawyers to file a civil suit against Enron. Filing the suit was considered necessary for strengthening the Government's stand, in case the arbitration ruling favoured Enron.
The lawyers, reportedly, wanted to include charges of "fraud, illegality and unconstitutionality" against Enron.
"Certain sections" in the Government have opposed this move putting "considerable pressure" on the legal team to drop the allegations.
The lawyers were opposed to this as it would weaken the case. After four weeks of hanging fire, the lawyers decided to walk out of the case.
Our Bureau

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

Net Data Hosting has the potential
GANESH KOLLEGAL

09/22/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

BANGALORE: On September 11, not only the US' so called high-tech surveillance was tested and found to be wanting, along with it the Internet was also stretched way beyond its capacity.
As US was bleeding after the terrorist attacks and the whole world was scrambling for news updates. The Internet, unable to take the load clogged, and functioned at a snail's pace.
Information on any website took ages to get loaded, be it Hotmail, msn, Lycos, Yahoo or sites with India specific content like Indya, Capital markets and who have you. The reason was simple: almost all the sites are hosted on US servers like Exodus, Enron etc.
The logical question that arises is, for an Indian audience is there a need to host information, in a remote server in the US. The answer earlier was yes, but not anymore.
`` Earlier when the bandwidth allotment was monopolized, and due to lack of customer service, sites were hosted in the US, out of little choice. But the situation has drastically improved since the last couple of years, after opening up of bandwidth,'' says, Jasjit Sawhney, CEO, Net4India, a leading Internet Data Centre (IDC) Company.
But for an industry that has been growing at an average of 60 per cent every year and projected to grow at the same rate over the next 4 -5 years its been a hard gring. `` The growth of the IDC sector is directly linked to bandwidth rates, and they are falling at the rate of 30 per cent every year, which is why better value-add services are available,'' adds Sawhney.
Further, `` the local hosting of websites will result not only in reduced saving costs by saving uptime taken. It will also balance the existing bandwidth usage between India and the US,'' says Gopi Garge, Consultant, IISc and a Internet Architecture expert.
Morgan Stanley Dean Witter research report estimates that the worldwide IDC market will be $101 billion by 2006. Of which $7 billion will come from Asia. If even a 5% of this share is India's then the market will be around Rs. 20,000 crore by 2006. According to IDC, the hosted application market will touch the $ 7.5 bilion by 2004 and Gartner report estimates global hosting business to be $10.2 billon by 2002.
Until a sturdy Internet backbone like the IPv6 is put in place for text and multimedia data, it is only better management of hosting, which will help effective utilization of bandwidth. PI>

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

Enron probe were watered down at NCP's behest

09/22/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

MUMBAI: The terms of reference for the judicial probe into the Enron project at Dabhol, were watered down by the Vilasrao Deshmukh government at the behest of the Nationalist Congress Party, it is learnt.
Sources said the terms of reference approved by the co-ordination committee of the Democratic Front were different from the ones that were finally passed by the cabinet on Wednesday.
The Congress pushed for the judicial inquiry into the power purchase agreement(PPA) for the 2144 MW Dabhol power project amidst opposition from the Nationalist Congress Party (NCP).
According to sources, senior NCP ministers held a closed-door meeting before attending the crucial cabinet meeting. The coordination committee of the DF had earlier unanimously passed a resolution approving the move to set up a judicial inquiry. The terms of reference was also shown to the coordination committee which insisted that the inquiry include both the phases of the power project set up at Dabhol.
Deputy chief minister Chhagan Bhujbal, PWD minister Vijaysinh Mohite Patil, and tribal welfare minister Madhukar Pichad, who belong to the NCP, reportedly asked the government to go slow on the move for the judicial probe since the union government is in the process of trying to sort out the Enron muddle. They pointed out that they were not against the probe as such but did not want to complicate the issue for the government.
However, parliamentary affairs minister Rohidas Patil and industries minister Dr Patangrao Kadam of the Congreee backed the probe, contending that the co-ordination committee had already approved it.
A senior NCP minister said his party was not opposed to the inclusion of the first phase in the judicial inquiry since it was endorsed by the NCP president Sharad Pawar, who was then chief minister. Rather, he said, it was the Shiv Sena-BJP alliance government which would face the heat of the judicial probe, he suggested.
What has actually upset the NCP is the fact that the judicial commission can call all those persons concerned with the signing of the first and second PPA for the Enron project.
Notwithstanding opposition from the NCP, Mr Deshmukh had to give in to pressure from the Congress high command and institute a judicial probe. State Congress president Govindrao Adik, who is a staunch opponent of Mr Pawar, had briefed the party high command about the controversial nature of the Enron deal and had favoured an expeditious and comprehensive judicial probe.
Though the government has not yet finalised the name of the judge to head the inquiry, Mr Deshmukh has announced that it would be headed by a retired Supreme Court judge.

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

SC stays encashment of MSEB letter of credit by Dabhol

09/22/2001
The Times of India
Copyright (C) 2001 The Times of India; Source: World Reporter (TM)

NEW DELHI: The Supreme Court on Friday stayed the encashment of Rs 136 crore letter of credit given by the Maharashtra State Electricity Board (MSEB) to US power major Enron-promoted Dabhol Power Company.
DPC had invoked the letter from Canara Bank on September 11 accusing the MSEB for non-payment of April dues but it was restrained from encashing the same as MSEB stopped the payment by obtaining an injunction from the Bombay high court.
When the MSEB petition came up for hearing, a Bench comprising Justice S P Bharucha, Justice N Santosh Hegde and Justice Y K Sabharwal said the order of the high court restraining Canara Bank from making payments under the letter "shall operate pending further orders".
The apex court, however, did not pass any order on the interim application filed by DPC seeking clarification of its August 6 order restraining both parties from altering the status quo pending the high court ruling on the jurisdiction of the Maharashtra Electricity Regulatory Commission (MERC).
DPC had justified its decision to invoke the letter, saying care and preservation of the entire project during the ensuing months would be jeopardised as DPC was unable to access and utilise funds available under the letter of credit.

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

Bush Proposes Lifting Sanctions on Pakistan

09/22/2001
KRTBN Knight-Ridder Tribune Business News: The Washington Times - Washington, D.C.
Copyright (C) 2001 KRTBN Knight Ridder Tribune Business News; Source: World Reporter (TM)

The Bush administration this week told key members of Congress that it will lift sanctions imposed on Pakistan and India after their nuclear tests in 1998, according to sources close to the issue.
This step, part of the White House's still-unfolding strategy of using American economic might to foster cooperation with those countries in the new war on terrorism, could come as early as next week.
Top State Department officials broke the news to key members of Congress in closed-door briefings over the past two days, according to a House Republican aide.
Even before last week's terrorist attacks, the administration had been moving toward closer ties with India, a plan that included ways to ease sanctions.
The Treasury Department is also already working to reschedule payments on Pakistan's $600 million in bilateral debt, officials said.
Sentiment in Congress is strong to lift the sanctions, especially against Pakistan, now that its president, Gen. Pervez Musharraf, has promised the United States wide-ranging help in rooting out terrorist networks.
"We asked the Pakistani government to choose sides and they have chosen to stand with us," Sen. Joseph R. Biden Jr., the Delaware Democrat who heads the Senate Foreign Relations Committee, saidin a statement on Thursday. "I believe that we, in turn, must stand with them."
House International Relations Committee Chairman Henry J. Hyde, Illinois Republican, echoed Mr. Biden's comments.
"We have to give something to them, and I think the sanctions have outlived their usefulness," he said.
At the same time, industry analysts cautioned that the end of the sanctions would not be a bonanza for American exporters, because trade with the two countries is small compared with other nations.
"The effects of lifting the sanctions, at least in the short term, will be symbolic," said Roger Majak, a Clinton administration official who helped enforce the sanctions.
Both India and Pakistan were hit by U.S. sanctions under the so-called Glenn amendment after they tested nuclear weapons in 1998. The law immediately froze assistance from several agencies that promoted trade and investment with the two countries. The sanctions also compelled the Treasury Department to urge international financial institutions like the World Bank to cut off assistance to both countries.
The sanctions also put stringent limits on exports of commercial goods to Pakistan that can also have military uses. Those sanctions sliced into exports of commercial aircraft by the Chicago-based Boeing Co., and construction projects run by Houston-based Enron Corp.
Even before 1998, military and foreign aid to Pakistan was banned because of the country's nuclear weapons research. And, additional sanctions were applied in 1999 when Gen. Musharraf overthrew a democratically elected government in a bloodless coup.
Action next week is likely to remove the penalties imposed in 1998, something the president can do by executive order, the House aide said.
Congressional action would be required to change the other sanctions.
Lifting the full range of sanctions could eventually unlock new arms sales to Pakistan. In 1990, the sanctions blocked a shipment of F-16 fighter jets that Pakistan paid for, but never received.
"The pressure will be to respond to the needs of our newfound allies," said Joel Johnson, who handles international issues for the Aerospace Industries Association.

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

Business
ENRON INDIAN UNIT DEFAULTED ON PAYMENTS; ENERGY
From the Associated Press and Reuters

09/22/2001
San Jose Mercury News
Morning Final
2C
(c) Copyright 2001, San Jose Mercury News. All Rights Reserved.

A majority-owned Indian unit of U.S. energy giant Enron has defaulted on interest payments to international lenders, Enron said Friday.
''I can confirm that there was a technical default on the Phase 2 loans for the Dabhol power plant,'' Enron spokesman John Ambler told Reuters.
Citibank, Bank of America, U.S. Exim Bank and Japan's Overseas Private Investment Corp. are among the international lenders to Dabhol Power's $2.9 billion Indian plant.

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

BUSINESS
CONSUMERS WILL SEEK REVIEW OF PGE RATES
GAIL KINSEY HILL - The Oregonian

09/22/2001
Portland Oregonian
SUNRISE
E01
(Copyright (c) The Oregonian 2001)

Summary: Increases of 31.5 percent to 53 percent have been approved, but groups will ask the state to reconsider
Several business and consumer groups say they will ask state regulators on Monday to reconsider approval of 30-plus percent rate increases for Portland General Electric customers.
The increases are scheduled to take effect Oct. 1.
The groups claim the Oregon Public Utility Commission failed to take into account the economic impact of such large and sudden increases.
"PGE's rate increases cause rate shock and are not fair, just and reasonable," stated a news release issued Friday by Associated Oregon Industries, Industrial Consumers of Northwest Utilities and the Citizens' Utility Board.
Representatives for the interest groups said they will file two motions Monday. One will ask the PUC to reconsider the Aug. 31 order that granted the increases. The other will ask that the increases be suspended until the review is completed.
The PUC approved rate increases of 31.5 percent for residential customers, 37 percent to 53 percent for small businesses and from 49 percent to 53 percent for industrial consumers, depending on consumption.
Portland General Electric, which serves more Oregon customers than any other utility, has argued that rapidly rising electricity and fuel costs have made the increases necessary.
"We understand these are big increases, and we certainly don't want to pass them along to our customers," said Scott Simms, a PGE spokesman. "But unfortunately, this is what it costs us to deliver electricity to our customers."
Simms said almost a year of negotiations and hearings preceded PUC approval. "There was nothing sudden or hidden about it," he said.
Bob Jenks, executive director of the Citizens' Utility Board, a consumer advocacy group, said regulators did not adequately weigh the economic consequences of the double-digit increases. Current conditions, rife with economic uncertainty, make the review even more critical, he said.
"The economy is going downhill so quickly," he said. "The fear is this (rate increase) will only erode it further."
Joan Smith, one of three utility commissioners, said she would not comment on the motions until they were formally filed.
First, she said, an administrative law judge will decide whether the motions meet regulatory requirements for consideration. Any reconsideration would be "careful and thorough," she said.

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


Barbara,

I called Vlady Gorny and explained that the presentation by Jorion is not
offered
under the umbrella of the  seminar sponsored by Enron and that it is a
closed meeting for the School faculty.

I don't think that Enron would open its job interviews to Rice observers
who expressed interest and I made this comment to Vlady. He is OK with this.

You can let his program director know that I have explained   to Vlady
that it is a meeting for limited audience and that he does not expect to be
invited.

Please, let me know the details of the dinners.

Vince


-----Original Message-----
From: 	Callahan, Teresa
Sent:	Tuesday, March 06, 2001 7:40 PM
To:	Barrow, Cynthia; Bouillion, James; Carnahan, Kathleen; Cole, Kate; Dallman, Larry; Davis, Hardie; Derrick Jr., James; Holland, Geneva; Hu, Sylvia; King Jr., Frazier; Korkmas, Deb; LaBaume, Wanda; Lavorato, John; Leo, Johnson; Li, Ling; Maxwell, Matt; Moore, Jerry Thomas; Murray, Julia; Norman, Lisa; Perkins, Mary; Pham, Lynda; Priddy, Janice; Rice, Greek; Sanford, Tanya; SAP Master Data; Swafford, John; Whalley, Greg
Cc:	Van Hooser, Steve
Subject:	Lumberton Power, LLC  and Elizabethtown Power, LLC- Acquisition Announcement
Importance:	High

Lumberton Power, LLC, a Delaware limited liability company was acquired on January 31, 2001.

Particulars are:

	Parent Company:	North Carolina Power Holding, LLC. - 100%

	Business:	To own and operate a 35 MW coal fired exempt wholesale generator power plant.

	Managers and officers:	See attached corporate data sheet

	Employees:	No

	Company No.:	1513 - LPWR

	Foreign Qualifications:	North Carolina

Please circulate this information to all interested parties in your group.

Please Note:

Sylvia Hu - Minute book and 2 corporate seals ordered

Elizabethtown Power, LLC, a Delaware limited liability company was acquired on January 31, 2001.

Particulars are:

	Parent Company:	North Carolina Power Holding, LLC. - 100%

	Business:	To own and operate a 35 MW coal fired exempt wholesale generator power plant.

	Managers and officers:	See attached corporate data sheet

	Employees:	No

	Company No.:	1514 - ELPW

	Foreign Qualifications:	North Carolina

Please circulate this information to all interested parties in your group.

Please Note:

Sylvia Hu - Minute Book and 2 corporate seals ordered

Teresa A. Callahan
Supervisor, Corporate Services
Corporate Secretary Dept.
EB4804
Phone: 713-345-8444
Fax:		713-646-8007


Currently interviewing a guy from Pacificorp - fingers crossed.  Keep it quiet though.