Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
              Thursday, January 10 2002 No. 902
Visit: http://www.enerfax.com/ or for Oil Prices & News
http://www.enerfaxgold.com/
PHYSICAL NATURAL GAS PRICES
Gulf/Eastern Region
| Agua Dulce              | 2.17  |
| ANR SE                  | 2.25  |
| Carthage TG             | 2.25  |
| Chicago Citygate        | 2.19  |
| Columbia Gulf Onshore   | 2.28  |
| Dominion South Point    | 2.38  |
| Henry Hub               | 2.31  |
| Houston Ship Channel    | 2.30  |
| Katy Hub                | 2.25  |
| NGPL LA Pool            | 2.18  |
| NGPL - Midcontinent     | 2.08  |
| NGPL STX                | 2.15  |
| NGPL TX/OK              | 2.16  |
| NNG Demarc.             | 2.12  |
| Niagara                 | 2.48  |
| Sonat Tier 1            | 2.26  |
| TCO IPP Pool            | 2.38  |
| Tetco ELa               | 2.30  |
| Tetco M-3               | 2.61  |
| Tetco STX               | 2.18  |
| TGP Zone 0              | 2.19  |
| TGP Zone 1 (500 Leg)    | 2.26  |
| TGT Zone SL             | 2.28  |
| New York Citygate       | 2.67  |
| Transco Station 65      | 2.37  |
| Transco Zone 6 (NY)     | 2.67  |
| Trunk ELa               | 2.22  |
| Western Region
| California Border       | 2.15  |
| El Paso Keystone        | 2.03  |
| El Paso San Juan-Blanco | 2.00  |
| Waha Hub                | 2.10  |
| Canadian/Rockies Region
| Nova/Aeco (C$/gig)      | 2.89  |
| Dawn Hub/Union          | 2.27  |
| Northwest Stanfield     | 2.03  |
| Wyoming Pool            | 1.92  |
| Opal/Kern River         | 1.94  |
| PGT-Malin               | 2.09  |
| Sumas                   | 2.01  |
          Flow Date 01/10
-------------------------------------------------------------

NATURAL GAS FUTURES
Henry Hub
12 Month Strip  2.5410 -0.0438
18 Month Strip  2.6860 -0.0429
| Month | High  |  Low  | Close | Change |
| FEB   | 2.270 | 2.140 | 2.228 | -0.053 |
| MAR   | 2.260 | 2.150 | 2.232 | -0.053 |
| APR   | 2.270 | 2.245 | 2.266 | -0.024 |
| MAY   | 2.360 | 2.271 | 2.332 | -0.042 |
| JUN   | 2.450 | 2.320 | 2.402 | -0.040 |
| JUL   | 2.475 | 2.410 | 2.467 | -0.038 |
| AUG   | 2.525 | 2.465 | 2.517 | -0.038 |
| SEP   | 2.580 | 2.485 | 2.531 | -0.041 |
| OCT   | 2.605 | 2.515 | 2.566 | -0.041 |
| NOV   | 2.810 | 2.750 | 2.794 | -0.043 |
| DEC   | 3.050 | 2.975 | 3.021 | -0.046 |
| JAN   | 3.150 | 3.090 | 3.136 | -0.046 |
-------------------------------------------------------------
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Natural Gas Futures Slip Lower

    Natural gas for February delivery on the NYMEX ended down $0.053
yesterday at $2.228 per MMBtu. The March contract also lost $0.053
and finished at $2.232 per MMBtu. The market opened down and
continued to slowly slide most of the day reaching a low of $2.14 per
MMBtu before the AGA released the weekly storage report data. The AGA
showed a withdrawal of 190 Bcf for last week, somewhat more than was
expected by most. The market jumped higher after the report and
finished on an up-tick. Even though the year-on-year deficit was
reduced by 23 Bcf, there is still a long way to go with 1.1 Bcf more
in storage than a year ago. There is now 2.67 Tcf in storage and it
is about 81% full. A year ago, only 1.562 Tcf was in storage. Storage
inventories are 58% above where they were a year ago and 26% above
the AGA's 5-year average of 2,124 Bcf. Look for the market to
continue higher today mainly on short-covering. Natural gas for next
day delivery across the US and Canada was general down $0.05  $0.10
yesterday. Natural gas for next day delivery at the Henry hub lost
$0.07 to $2.31 per MMBtu.
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Today's Power Bulletins
 * Duke Energy Breaks Ground on $150 Million, 165 MW Power Plant in
Guatemala
 * Caminus Strengthens Commitment to Advising Global Energy Markets
and Providing Leading Analytic Solutions to Energy Companies
 * TECO Energy Announces Sale of $400 Million of Mandatorily
Convertible Securities
 * Duke Energy Notes Rated A+ by Fitch
 * NRC to Hold Meeting Next Week on Findings of Federal Investigation
into Loss of
2 Nuclear Fuel Rods at Dominion Resources' Millstone Plant in
Waterford, Connecticut
 * PG&E Bankruptcy Judge Rules 1,250 Claims of Chromium Poisoning
Against Utility Should be Heard in California State Court
 * California PUC to Investigate Business Dealings Between State's
Utilities and Their Parent Holding Companies
 * Northeast, Mid Continent and Southeast  Power Spot Prices Slip as
Warmer Weather Returns
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-------------------------------------------------------------
AGA Natural Gas Storage Report

            Week                                    Prev
           Ending    Prev                   Prev    Year
| Region | 1/04/01 | Week | Diff | % Full | Year | % Full|
| Prod   |  777    |  837 | -60  |  82%   |  373 |  39%  |
| East   | 1482    | 1605 |-123  |  81%   |  933 |  50%  |
| West   |  407    |  414 |  -7  |  81%   |  256 |  51%  |

| Total  | 2666    | 2856 |-190  |  81%   | 1562 |  48%  |
-------------------------------------------------------------
Ex-Worker Threatens Nuclear Plant Employees

    Employees at Edison Internationals San Onofre nuclear power plant
were allegedly threatened by a former maintenance worker who was
fired last month. The nuclear plant was not in danger as the alleged
verbal threats were made at another location. The man was arrested on
charges of making deadly threats, storing weapons in the reach of a
minor, possession of a concealed weapon in a vehicle and possession
of illegal ammunition. Deputies found 42 weapons at the suspect's
home and another 250 at a storage facility. Law enforcement officials
also found 3,000 to 4,000 rounds of ammunition and 4 hand grenades at
the storage facility. While opening an ammunition container 2
deputies were exposed to a yellow gas, thought to be tear gas. Edison
owns 75% of the nuclear station, Sempra owns 20% and two California
towns own the other 5%.
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-------------------------------------------------------------
Natural Gas NYMEX Volume
02FEB   31,085
02MAR   10,038
02APR    4,248
02MAY    2,119
02JUN    1,118
02JLY    1,238
02AUG    1,668
02SEP    1,193
02OCT    1,841
02NOV      862
02DEC      892
03JAN    1,854
03FEB      602
03MAR      237
03APR       74
03MAY       22
03JUN       78
03JLY       12
03AUG        2
03SEP      233
03OCT        2
03NOV        2
03DEC      401
04JAN        3
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Government and Auto Makers to Develop Fuel Cells

    The DOE and the US Council for Automotive Research, an
organization formed by GM, Ford and DaimlerChrysler to speed up fuel
efficiency research, have agreed to fund a new program called
FreedomCar to develop hydrogen-based fuel cells for use in cars. The
agreement will require significant investment by the automobile
industry and the federal government, the council said. The new
program represents the government's commitment to devote research and
development money and future policy toward hydrogen as an eventual
replacement for gasoline, according to the DOE. FreedomCAR replaces
the Partnership for a New Generation Vehicle, whose goal was to
develop a car that gets 80 miles per gallon of fuel. PNGV was a
partnership between federal agencies, Ford, GM and DaimlerChrysler to
develop a car with 3 times the fuel efficiency of a 1994 model by
2004. The 2002 federal fiscal budget had allotted $127 million for
PNGV. The 2003 budget allotment for FreedomCAR will not be known
until the president submits his budget to Congress in a few weeks.
The program is open to all auto makers, not just domestic car
manufacturers, leaving the door open for Toyota, Honda, etc. to join
if they wish. FreedomCAR might also include suppliers from the
hydrogen production industry. Currently, fuel cells cost about $400
per kW of energy produced and last for about 3,000 hours. In order to
be competitive with combustible engines, fuel cells need to be priced
about $40 per kW and last about 5,000 hours, or about 120,000 miles.
Fuel cells can obtain hydrogen from a variety of sources, including
methanol and natural gas. Fuel cell-powered vehicles have not been
introduced because they are more expensive than gasoline-powered
vehicles and there is no commercial fuel delivery system. The US has
only 2 hydrogen-fueling stations for cars in operation, which are not
open to the public, compared to about 1,300 fueling stations for
vehicles that run on compressed natural gas and even more for those
that run on propane. The DOE secretary said that he thinks that the
nations carbon-based economy may pass from the scene to perhaps be
replaced by hydrogen. The DOE held meetings last year with auto
makers, energy suppliers, fuel cell manufacturers and educational
experts to create a plan for how a hydrogen-based economy would
operate. Currently a consensus on whether hydrogen should be shipped
through a pipe or made at the end point by electricity does not
exist. Ford, GM and DaimlerChrysler have each said they plan to have
some fuel-cell vehicles commercially available by 2004.
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-------------------------------------------------------------
PHYSICAL POWER PRICES
|            | High  |  Low  | Average |
|            | $/MWh | $/MWh |  $/MWh  |
| Cinergy    | 21.00 | 18.00 |  19.25  |
| ECAR       | 21.00 | 18.00 |  19.80  |
| ERCOT      | 19.00 | 18.00 |  18.15  |
| Entergy    | 20.00 | 18.25 |  19.10  |
| TVA        | 24.30 | 22.75 |  23.50  |
| ComEd      | 18.75 | 18.50 |  18.60  |
| Nepool     | 30.00 | 28.75 |  29.30  |
| PJM West   | 24.00 | 22.50 |  22.85  |
| Main       | 19.50 | 17.00 |  18.55  |
| MAPP       | 19.75 | 17.00 |  18.75  |
| Palo Verde | 21.25 | 19.00 |  20.25  |
| Mid C      | 19.25 | 18.00 |  18.70  |
| COB        | 20.25 | 19.50 |  19.80  |
| 4 Corners  | 20.50 | 19.00 |  19.95  |
| Mead       | 21.50 | 19.25 |  19.95  |
| NP 15      | 22.50 | 20.25 |  21.35  |
| SP 15      | 22.25 | 20.50 |  21.60  |
-------------------------------------------------------------
Skipping Stone's Texas Power Markets: Restructuring / Competition
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-------------------------------------------------------------
Todays Gas Bulletins
 * Justice Department Opens Criminal Investigation of Enron
 * Anadarko President John Seitz Succeeds Robert Allison as CEO
 * Anadarko Investor Road Show Webcast Set for January 14th
 * Venus Exploration Delisted From Nasdaq SmallCap Market; To Trade
on OTC Bulletin Board Under Symbol VENX
 * PSE&G Gas Filings Ruled on by NJ Board of Public Utilities;
Residential Natural Gas Heating Customer Bills to Decline by 3.3%
 * Qatar and Pakistan Resurrect $5 Billion Natural Gas Project to
Supply 1.6 Bcf per Day from Qatar to Pakistan by Pipeline
 * l.Enron Online Scheduled to Be Auctioned Off in New York Today
*Enron Seeks Bids for 50% Stake in South Korean Natural Gas
Distributor this Month
*Citicorp and UBS Warburg Bid for Majority Stake in Enrons Energy
Trading Operations
*Questar Market Resources Sells $200 Million in 5-Year Notes
-------------------------------------------------------------
 Ziff Energy Group presents
Gas Storage 2002
Redefining the Fundamentals:
Is Gas Still in the Storage Game?
Power Drives Storage
Will the recession affect plant and storage development?
Will record high volumes in storage further depress gas prices?
Is it possible to mitigate storage risk while dealing with year-round
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Plus
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Hear what the Power Generator wants from the storage industry
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Learn from the expert how to mitigate storage price risk in the 2002
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February 6 & 7
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-------------------------------------------------------------
EIA Says 2002 Natural Gas Prices to Average Just $2.05

    High storage inventories are expected to keep downward pressure
on natural gas prices throughout most of the year, according to the
EIA. However, a sharp downturn in drilling activity and growing
demand should rally prices for 2003, but for 2002 pressure on
domestic wellhead prices will keep them near $2 per Mcf, the agency
in its latest short-term energy outlook. Wellhead  prices are
expected to average $2.05 per Mcf this year before jumping to $2.65
per Mcf in 2003. Both estimates reflect dramatic reductions from the
2001 average of $4.14 per Mcf. The agency's quarterly and annual
price estimates are up slightly from its December report, when EIA
pegged the 2002 gas price at $1.96 per Mcf.
-------------------------------------------------------------
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Training to improve your ability to identify and manage tactical and
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Please visit our web site at http://www.rwbeck.com
-------------------------------------------------------------
POWER FUTURES
| Month |   COB   | Change |   PV    | Change |
| FEB   |  22.00  | -1.00  |  22.50  | -1.00  |
| MAR   |  21.00  | +1.50  |  22.00  | -1.25  |
| APR   |  21.00  | +2.00  |  24.00  | -0.50  |
| MAY   |  20.00  | +1.75  |  25.00  | -0.50  |
| JUN   |  21.00  | +0.50  |  30.00  | -1.00  |
| JUL   |  29.00  | +1.00  |  40.00  | +0.00  |
| AUG   |  39.50  | +2.50  |  44.25  | -1.25  |
| SEP   |  35.00  | +5.00  |  35.00  | -0.75  |
| OCT   |  26.00  | -1.50  |  26.25  | -4.50  |
| NOV   |  27.00  | +0.00  |  26.25  | -3.75  |
| DEC   |  27.00  | -1.00  |  26.25  | -3.75  |
| JAN   |  27.00  | -1.00  |  26.00  | -4.75  |
| Month | Entergy | Change | Cinergy | Change |
| FEB   |  19.80  | +0.10  |  21.70  | -1.70  |
| MAR   |  20.60  | -0.30  |  22.60  | -0.30  |
| APR   |  20.60  | -0.30  |  22.60  | -0.30  |
| MAY   |  24.15  | -0.10  |  26.10  | -0.30  |
| JUN   |  30.25  | -0.25  |  33.50  | -0.50  |
| JUL   |  38.75  | -0.25  |  43.50  | -0.50  |
| AUG   |  38.75  | -0.25  |  43.50  | -0.50  |
| SEP   |  21.50  | -0.50  |  23.60  | -0.15  |
| OCT   |  22.50  | +0.00  |  23.25  | -0.25  |
| NOV   |  22.50  | +0.00  |  23.25  | -0.25  |
| DEC   |  22.50  | +0.00  |  23.25  | -0.25  |
| JAN   |  24.75  | +0.00  |  26.50  | +0.00  |
-------------------------------------------------------------
Power Futures
| Month |  PJM  | Change |
| FEB   | 25.25 | -0.50  |
| MAR   | 24.85 | -0.15  |
| APR   | 24.85 | -0.15  |
| MAY   | 28.60 | -0.20  |
| JUN   | 36.25 | -0.25  |
| JUL   | 49.90 | -0.35  |
| AUG   | 49.90 | -0.35  |
| SEP   | 25.20 | -0.35  |
| OCT   | 25.20 | -0.05  |
| NOV   | 25.20 | -0.05  |
| DEC   | 25.20 | -0.05  |
| JAN   | 28.90 | +0.10  |
-------------------------------------------------------------
PJM and Midwest ISO Plan Common Market

    The PJM Interconnection and the Midwest ISO plan to form a common
wholesale electric market that would cover 27 states, plus the
District of Columbia and Manitoba. The plan is still preliminary, but
the parties have released an unexecuted letter of intent, which they
will discuss with the member committees on January 16th and 17th. The
market would affect about 32 million people. It would include
Pennsylvania, New Jersey, Maryland, Delaware and Washington DC, plus
the portions of West Virginia and Ohio served by Allegheny Energy,
which will form PJM West this year, along with Duquesne Light. The
Midwest ISO includes Manitoba, Montana, North Dakota, South Dakota,
Wyoming, Minnesota, Wisconsin, part of Iowa, Nebraska, Kansas,
Missouri, Illinois, Michigan, Indiana, Kentucky and Ohio. The letter
of intent states that the market will facilitate wholesale markets,
both in areas where retail electric industry restructuring is
occurring, as well as areas where retail restructuring is still being
evaluated. The market will allow the larger region to rapidly realize
the benefits that industry restructuring at the wholesale level had
otherwise promised but not yet fully achieved. Detail are still
sketchy, they could not say how transmission might be coordinated,
nor which electric products might be included. However, PJM
emphasized that it would not be a merger of the ISOs and do not yet
have an estimated time frame for startup.
-------------------------------------------------------------
Energy Seminars, Inc. Announces Key Seminar Offerings for January:

Energy Seminars will be going to Florida and Calgary in 2002!

Click to www.energyseminars.com to see our 2002 schedule.

Register on-line at http://www.energyseminars.com or call Registrar
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Phone: 281-362-7979
FAX: 281-296-9922
----------------------------------------------------------------------
----------------------------------------------------
Baker Hughes December 2001 Rig Counts

    Baker Hughes says the international rig count for December 2001
was 752, up 11 from 741 in November 2001 and up 47 from 705 in
December 2000. The international offshore rig count for December 2001
was 222 up 2 from 220 in November 2001 and up 21 from 201 in December
2000. The US rig count for December 2001 was 901 down 99 from 1,000
in November 2001 and down 196 from 1,097 in December 2000. The
Canadian rig count for December 2001 was 264 down 2 from 266 in
November 2001 and down 146 from 410 in December 2000. The worldwide
rig count for December 2001 was 1,917 down 90 from 2,007  in November
2001 and down 295 from 2,212 in December 2000.
-------------------------------------------------------------
Western Resources Sues PNM

    In a bid to salvage a $4.5 billion sale of its utilities, Western
Resources has said that PNM cannot cancel the deal while decisions by
regulators that a condition of the sale was unlawful and an ordered
rate cut is under appeal. Western Resources, which is suing to force
PNM to complete the sale, detailed its position in a letter to PNM,
which was disclosed in a SEC filing. PNM, New Mexico's largest
utility, has formally rescinded its offer to purchase Westerns KPL
and KGE units. According to PNM, Kansas regulators effectively killed
the deal last July when they rejected Western's plan to place the
utilities into a separate company, a condition of the sale, and cut
customer power rates, lowering the utilities' expected revenue. After
the regulatory decision, the companies entered into negotiations,
which broke down last August. PNM filed suit against Western in
October to end the sale and win unspecified damages. Western in turn
filed suit in November, seeking hundreds of millions of dollars in
damages from PNM for breach of contact. The purchase agreement called
for PNM to pay 55 million shares, worth $1.6 billion and assume $2.9
billion of debt. In the termination letter, PNM said Western is
unlikely to overturn the regulators' rejection of the purchase, and
the rate cut will have a materially adverse effect on the business.
PNM claims those conditions give it the right to cancel the sale
without paying a breakup fee of up to $35 million. Western Resources
says that it is working to reach a settlement with the regulators by
the merger deadline at the end of this year and that doubts about its
success does not give PNM the legal right to withdraw.
-------------------------------------------------------------

                Progas Storage Services, Inc

Was recently organized to offer specialized natural gas storage
services to marketers and end users servicing the upper Midwest and
Northeast market regions along the major transmission systems in
Indiana, Illinois, Kentucky, and Michigan. PGSMI has 10 bcf of
potential working capacity which will offer service along TXG, ANR,
Midwestern, and is currently evaluating for purchase another 21 bcf
of potential working capacity which can be serviced by these and
other systems in the region. PGSMI also explores for natural gas in
the Gulf Coast region through a wholly owned subsidiary. Progas
intends to go public through a route of private industry offerings,
and an IPO or registration. For more information on services or the
company mail to: gastorage@aol.com or for AOL mail to
gastorage@aol.com;
The company's executive and administrative office is located in
Abilene, Texas with storage operations in Owensboro, KY and
exploration operations in Corpus Christi, TX.
Vist our website http://www.progas.net/wip
Progas Storage Services, Inc
8610 S. Hwy 277
Abilene, TX 79606

Ph 915 698 3699
Fx 915 698 2859
-------------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 dipped 6.26 points to 7775.78
The CRB Index gained 0.10 points to 195.03
The US Dollar increased 0.16 points to 116.94
The Dow declined 56.46 points to 10094.09
The S&P 500 dropped 5.57 points to 1155.14
The Nasdaq was down 10.89 points to 2044.89
February NYMEX Crude Oil fell 1.07 to 20.18
Canadian-US Exchange lost 0.0029 to 1.5950
-------------------------------------------------------------
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-------------------------------------------------------------
Washington DC
January 24, 2002
Spencer Abraham U.S. Secretary of Energy to address energy community
on
potential security and commerce threats. Also to speak will be key
directors
from the CIA, SPR, IEA, SPR and more. See complete
detail and register today at
http://www.wesc.org
-------------------------------------------------------------
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      jeff.skilling@enron.com

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Tom, further to our conversation, please find attached ENA's fixed price and
basis numbers, Month on Month. As discussed these numbers are indicative
only, subject to change and are not PV'd as a swap. Please review and call me
if there are any questions.

713-853-1587

Barry Tycholiz


Vince:
?
Having now the benefit of some experience with El  Paso, I conclude that
Enron would offer more for me in the long term.? If  you have an interest in
discussing the matter further, please give me a call. I  would appreciate
your comments.?
?
Best Regards,
Grant.
?
(Mobile) 281 381 9983
(Home) 713 664 7260


Me and my girlfriends are planning to go out.  We don't have a plan as of yet.  What are you guys doing?

----- Original Message -----
From: Lucci, Paul T. <mailto:Paul.T.Lucci@ENRON.com>
To: lisab <mailto:lisab@int.iwhm.com>
Sent: Tuesday, October 23, 2001 1:18 PM
Subject: RE:

Yes, and what are you doing for Halloween (Saturday Night)?

-----Original Message-----
From: lisab [mailto:lisab@int.iwhm.com]
Sent: Tuesday, October 23, 2001 9:58 AM
To: Lucci, Paul T.
Subject:

Good morning.  How are things?  You guys still planning your happy hour on Friday?

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


Hi Sara/Tana--

I've been told to get started on Enron Capital & Trade Resources
International Corp. ISDA.  Is this handled out of Houston or in UK (or
otherwise)?

Thanks and regards,

Steve


Hey, there's still time to view the presentations given by Enron management
at the annual investor conference held in January.

A link to the replay of the webcast is available at www.enron.com.  A list of
the presentations made at the meeting will appear on the screen.  To view a
presentation, simply click on the title.  The entire webcast is about eight
hours long, with each presentation lasting about 45 minutes to one hour.  The
webcast will be available 24 hours-a-day, seven-days-a-week until Feb. 28.

This is an excellent opportunity for you to get the latest information about
Enron's business activities and strategy.  If you encounter problems
accessing the webcast, call 1-888-457-7469 for help.


Dear Daily Power Report Readers:

Attached to this message you'll find "Restructuring Today's Top CEO
Interviews of Year 2000," a 28-page compilation of exclusive interviews of
leaders of the new converging energy and communications industries.

The book is filled with insights into what CEOs forging the new industry
expect and how they are planning for the unexpected:

Kenneth Lay, Enron, dean of the energy industry, spent 45 minutes telling
veteran editor George Spencer about Enron's huge success on the web, his
formula for success and how Enron is looking at "every industry in the
world." May 5, 2000

David Sokol of MidAmerican Energy told about their key role in federal
legislation. October 31, 2000

David Freeman, Los Angeles Department of Water and Power, told how they make
big money from southern California turmoil. July 6, 2000

Glen McCullough of TVA was a member of the three person board when
interviewed but is expected to be named chairman and CEO soon. July 21 & 24,
2000

Wayne Brunetti, Xcel, although not widely known as yet, heads one of
America's largest utilities operating from the Ontario border to the
Arizona-Mexico border. October 4, 2000

Steve Baum of San Diego Gas and gave shocking news of underscheduling.
October 8 & 9, 2000

Robert Best at Atmos Energy collects LDCs from his office in Dallas. April 21
& 24, 2000

Paul Lewis, the former IBM web expert brought in to run Essential.com, talked
about life on the internet. September 13 & 14, 2000

John Kean Jr may be the most innovative gas industry executive. He was not
satisfied running a group of LDCs he got from his father.

Judi Johansen, when interviewed was at the helm of the federal agency that
dominates Pacific Northwest pricing and transmission policy. May 24 &26, 2000

Harvey Padewar is CEO of Duke's unregulated family of companies and told of
the firm's aggressive growth plans. June 8, 2000

Eugene Lockhart CEO of the leading firm in our business. December 8 & 11, 2000

John Rowe EEI Chairman and Exelon co-CEO. December 29, 2000

These interviews are just a click away -- simply open the attached PDF file
(rtceo2000.pdf).

The book is free of charge and copyright restriction has been relaxed, so
feel free to pass it along to anyone you think might benefit from the
insights within. We simply ask that you not change the document or send an
excerpt.

We hope you and your colleagues find Restructuring Today's Top CEO Interviews
of Year 2000 very useful and entertaining.

Your friends at

The Power Marketing Association

 - rtceo2000.pdf


Today EES will submit a bid in Texas' competitive bidding process for POLR.
This will be EES's first bid submitted for this type of business anywhere in
the country.  The EES bid will be for small and large non-residential
customers in the service areas of Reliant, TXU and CP&L.

Standard offer service for non-choosing customers in Texas is provided by the
utility-affiliated Retail Electric Provider (AREP).  The POLR only serves
customers who request POLR service, and any customers who are let go by their
provider or whose provider stops providing service.

Texas law requires the price for POLR service to be fixed.  EES' bid will be
a non-conforming, indexed-based price.  We hope to get the law or regulation
changed to allow variable pricing.  Texas opens Jan 1 2002.

EES does intend to get much more active in bidding across the country on
these types of opportunities.  We want to continue working with those of you
in the regions to identify where and when these opportunities are coming up.


The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete.  Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein.  Any
opinions expressed herein are solely those of the author.  As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates.  ? 2001 Carr Futures

The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.

Crude     http://www.carrfut.com/research/Energy1/crude93.pdf
Natural Gas     http://www.carrfut.com/research/Energy1/ngas93.pdf
Distillate     http://www.carrfut.com/research/Energy1/hoil93.pdf

Jan WTI/Brent Spread
http://www.carrfut.com/research/Energy1/clf-qof.pdf
Jan Heat Crack     http://www.carrfut.com/research/Energy1/heatcrack.pdf
Jan Gas Crack     http://www.carrfut.com/research/Energy1/gascrack.pdf
Dec/May Heat Spread     http://www.carrfut.com/research/Energy1/hoz-hok.pdf
Jan/Feb Heat Spread     http://www.carrfut.com/research/Energy1/hof-hog.pdf
Dec Gas/Heat Spread     http://www.carrfut.com/research/Energy1/huz-hoz.pdf
Feb Gas/Heat Spread     http://www.carrfut.com/research/Energy1/hug-hog.pdf
Dec/Mar Unlead Spread
http://www.carrfut.com/research/Energy1/huz-huh.pdf

Nat Gas Strip Matrix
http://www.carrfut.com/research/Energy1/StripmatrixNG93.pdf
Nat Gas Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixNG93.pdf

Crude and Products Spread Matrix
http://www.carrfut.com/research/Energy1/SpreadmatrixCL93.pdf

Scott Mollner Recomendation
http://www.carrfut.com/research/Energy1/recom11-19-01.pdf


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Georgia Power
Tracks commercial and industrial clients' credit ratings to react to bankruptcies faster

Allegheny Power
Benchmarks against industry standards and designs operational methods to achieve its revenue goals

BC Hydro
Creates a win-win situation using advanced software to manage its multiple outsourced collection agencies

PECO Energy
Sells off delinquent accounts to collection agencies to increase revenues

Commonwealth Edison
Controls its debt and decreases field costs by prioritizing cut-out efforts utilizing risk scoring

Duke Power
Incorporates communication from front-line back into credit and collection data

Wisconsin Electric-Wisconsin Gas
Implements aggressive collections procedures while maintaining respectful relationships with account holders Duke Power
Ensures the most profitable returns through close management of its collection agencies

FirstEnergy
In the aftermath of its merger, consolidated its best credit methods for improved revenue control ratings to react to bankruptcies faster

Illinois Power
Boosts collection efforts by using a predictive dialer to proactively contact customers prior to disconnection

Potomac Electric Power Company (PEPCO)
Launched a multi-disciplinary review to curb revenue loss by tightening key business processes

Salt River Project
Implemented a prepay program that reduces bad debt, improves customer satisfaction and gains customer acceptance

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Creates new credit and payment processes in response to its most aggressive bad debt recovery goal in history
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Mark's missing deal - 542424 - in at 50 mw. Mark said Pinnacle and he both
know the deal as 50 mw - Prebon mistake.

K

Evelyn Metoyer@ENRON
03/09/2001 01:31 PM
To: Kate Symes/PDX/ECT@ECT
cc:

Subject: 3/9 cHECKOUT

Bloomberg
All deals are o.k.

Prebon
Mark Fischer
I am missing the following:
Enron sells to 25 mw Pinacle West 3/11-3/12 Palo Verde at $92.00

AMEREX WEST
All deals are o.k.


Tammie,
Many of the desks on 5 & 6 have items in/on them that need to be boxed up and labeled and put in storage. We need to have them cleaned up prior to moving new people to these locations ASAP.

Can you please help identify a task force?

Thanks,
Tammy


----- Forwarded by Jeff Dasovich/NA/Enron on 12/12/2000 11:02 AM -----

	Alan Comnes@ECT
	12/06/2000 03:44 PM

		 To: jdasovich@enron.com
		 cc:
		 Subject: Follow Up on Payment for Power Delivered to Curtailed Load

Jeff,

Please pass this note onto whomever on the call asked the question "what
would Enron be paid if there was an electricity curtailment?"

I talked with staff on the West Desk and confirmed that if there is an
unscheduled electricity curtailment (i.e., rolling or widespread blackout)
power scheduled by EES to a retail customer would still flow, assuming it had
been prescheduled.  EPMI (acting as EES's scheduling coordinator, or SC)
would be paid the ISO decremental  (dec) price for that power.  EPMI would
pass that revenue (along with the cost of supplying that power) onto EES.

If the blackout continued for some time (i.e., days), presumably EES would
adjust its preschedule and there would be no net sales into the ISO.

Whether the retail customer gets a payment for being curtailed depends
completely on the contract between EES and the customer.  Presumably the
force majure provisions of the contract would protect EES from utility
blackouts.

Alan Comnes


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/01/2000
01:11 PM ---------------------------

Christie Patrick
12/01/2000 12:55 PM
To: Roberts_John@gsb.stanford.edu, benjamin_beth@gsb.stanford.edu
cc: Vince J Kaminski/HOU/ECT@ECT, Steven J Kean/NA/Enron@Enron, Mark
Palmer/Corp/Enron@ENRON, Greg Whalley/HOU/ECT@ECT, Kristin
Gandy/NA/Enron@Enron, Paul LeBeau/NA/Enron@Enron, Jeff
Skilling/Corp/Enron@ENRON
Subject: Enron/GLOBE

Dear Drs. Roberts and Benjamin,

Vince Kaminski and I enjoyed and appreciated the opportunity to speak with
you this morning. Enron is very happy to agree to participate in Stanford's
GLOBE project (being conducted in partnership with McKinsey & Company).

Attached please find my business card with all of my contact information.

 I look forward to hearing from Dr. Benjamin in the near future to begin
Enron's involvement.

Thank you!

--Christie.


Carl has been working with Enron and others and the ISO to develop a model
that works for CA as well as for the Desert Southwest (which the ISO would
then operate).  I think this summary explains the kinds of things were trying
to get in congestion management reform.  I'll send a few other things to look
at.
---------------------- Forwarded by Susan J Mara/SFO/EES on 05/16/2000 10:28
AM ---------------------------

	Carl Imparato

	04/24/2000 12:49:26 PM

Sent by: Carl Imparato
To: zalaywan@caiso.com
cc: smara@enron.com, curt.hatton@gen.pge.com, jim.filippi@gen.pge.com,
gackerman@wptf.org, alexp@eccointl.com, kewh@dynegy.com, skelly@iepa.com,
jstremel@apx.com, bmspeckman@aol.com
Subject: CAISO Congestion Model

Ziad:

Per our conversation this morning, attached is a summary of what I view to be
the key attributes of a "reformed" zonal congestion model.  The document does
not fully address all of the issues discussed at last Thursday's congestion
reform meeting in Sacramento, but I believe that (other than for some
details) it is consistent with what both the ISO and many of the market
participants are proposing.

This summary does not necessarily reflect the views of my clients, who
haven't yet had the time to review it... but I don't believe that it would be
too far off.

I am sending this summary to you to put into context the many comments that I
offered at last Thursday's meeting and also to support my view that, if the
ISO were to implement the CONG/ASM integration by DECENTRALIZING the process
rather than CENTRALIZING the process, there would not be much difference
between what I've been advocating in the Southwest and the CAISO's model.
(The primary remaining differences would be: (i) the way the "hour-ahead"
process works - i.e., continuously vs. one discrete time; and (ii) the way
scheduling is done - i.e., the ISO would not act as the SC's representative
in acquiring rights that could be made available through inter-zonal
counterflows since the SCs would do this themselves.)  So there is a real
possibility that, with some agreement on the ISO's longer-term plans (whether
integration of transmission rights and ancillary services procurement will
rely on decentralization vs. centralization), we could bring together the
models for the region.

Carl

[Sue, Curt, Jim, Gary, Alex, Kent, Steven, John and Barney: I'd appreciate
any feedback... but if you want me to see it, be sure to send it to
cfi1@tca-us.com, NOT the enron address from which this e-mail was sent.
Carl]


Have you heard of this request yet?  Seth said that he mentioned it to the
EOL team but was not sure if they had mentioned it to you yet.
----- Forwarded by Brent Hendry/NA/Enron on 08/11/2000 07:33 AM -----

	Seth Hurwitz
	08/10/2000 04:54 PM

		 To: Brent Hendry/NA/Enron@Enron
		 cc:
		 Subject:

Brent, we understand that Tempest, another Bermuda reinsurer, is also
interested in getting EOL access.  What's the timetable on Bermuda due
diligence (I know we  discussed this briefly earlier this week)?


After our meeting yesterday, I asked Mark Taylor whether under the revised
version of the CEA there was any restriction on one's ability to cash settle
physical transactions.  He confirmed that so long as the parties to the
transaction are "Eligible Contract Participants", then there is no
restriction and our physical contracts can expressly permit cash settlement.
Enclosed is a summary of the ECP definition.

Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
carol.st.clair@enron.com
----- Forwarded by Carol St Clair/HOU/ECT on 06/01/2001 08:43 AM -----

	Sara Shackleton
	05/31/2001 05:50 PM

		 To: Carol St Clair/HOU/ECT@ECT
		 cc:
		 Subject: ECP language

Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas  77002
713-853-5620 (phone)
713-646-3490 (fax)
sara.shackleton@enron.com


Attached is a memo from Howard Fromer, Kathleen Sullivan and me regarding
regulatory issues in New York.  Also attached are presentations Enron has
made recently.

Please let me know if you have any questions.

Sarah


doh!

	Enron Capital & Trade Resources Corp.  From:  Nicole Marie and Cary Schaub <nikcary@yahoo.com>                           05/17/2001 07:26 PM

To:	Cooper.Richey@enron.com
cc:
Subject:	Re:

ou est monsiour cooper, sil vous plait?


Can we get any traction in supporting this?  The premise is obviously
preaching to the choir, and we (as I am sure others do as well) have a string
of proposals starting with SDGEs in May or June that, if we melded their
timing and their prices into the attached timeline would be very damaging to
thinking people.  However, are people really thinking, or has Davis and the
reporters tainted the waters too badly?  What would be the result that we
would like to get from such an exposee?  Do we really think that we could get
some sympathy for returning to a market based structure?  Or, would we be
like the irritating kid who keeps saying "I told you so", so it does not
matter if he was right or not?  Are there any legal issues in revealing the
prices?  Does doing this through IEP help?  (Note that the addition of prices
could not be done, I do not think,  without naming companies, so we would be
there, partially revealed.)

My vote:  if it does not hurt us (competitively, PR, etc.), if it is legal,
and especially if it can help make even a small amout of progress towards a
market based structure, I would do it.  Of course, we could not go anymore to
restaurants near the CPUC......

I am out of town for the rest of the week, so I will leave the decision to
you guys.  Whatever you decide, is OK.

PS - At the very least, we should feed our own proposals and their prices
into this timeline.  Privately, we could show it to various parties on a case
by case basis to advance our cause.  Just think about it...  what if SDGE had
accepted our (and others) May/June proposals for 5.5 cents.....?)

----- Forwarded by David Parquet/SF/ECT on 04/24/2001 04:59 PM -----

	Jean Munoz <jmunoz@mcnallytemple.com>
	04/24/2001 12:56 PM

		 To: "'Andy Brown (E-mail)'" <ABB@eslawfirm.com>, "'B Brown Andy (E-mail)'"
<andybrwn@earthlink.net>, "'Baker Carolyn (E-mail)'"
<cabaker@duke-energy.com>, "'Bob Escalante (E-mail)'"
<rescalante@riobravo-gm.com>, "'Bob Weisenmiller (E-mail)'"
<rbw@mrwassoc.com>, "'Curtis Kebler (E-mail)'"
<curtis_l_kebler@reliantenergy.com>, "Dean. Nistetter (E-mail)"
<Dean.Nistetter@dynegy.com>, "'Douglas Kerner (E-mail)'" <DKK@eslawfirm.com>,
"'Greg Blue (E-mail)'" <gtbl@dynegy.com>, "'Jan Smutny-Jones (E-mail)'"
<smutny@iepa.com>, "'Jeff Dasovich (E-mail)'" <Jeff.Dasovich@enron.com>,
"'Joe Ronan (E-mail)'" <joer@calpine.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>, "'kent
Palmerton (E-mail)'" <kent.palmerton@williams.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>, "'Pigott Jack (E-mail)'"
<jackp@calpine.com>, "'Richard Hyde (E-mail)'" <rwhyde@duke-energy.com>,
"'Roger Pelote (E-mail)'" <roger.pelote@williams.com>, "'Stephanie-Newell
(E-mail)'" <stephanie-newell@reliantenergy.com>, "'Sue Mara (E-mail)'"
<smara@enron.com>, "'Tom Ross (E-mail)'" <tross@mcnallytemple.com>, "Tom
Williams (E-mail)" <tcwillia@duke-energy.com>, "'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
Gates (E-mail)'" <bob.gates@enron.com>, "'Cody Carter (E-mail)'"
<cody.carter@williams.com>, "'Curt Hatton (E-mail)'"
<Curt.Hatton@gen.pge.com>, "'David Parquet'" <david.parquet@enron.com>,
"'Dean Gosselin (E-mail)'" <dean_gosselin@fpl.com>, "'Doug Fernley (E-mail)'"
<fernley.doug@epenergy.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>, "'Hap Boyd (E-mail)'"
<Hap_Boyd@enron.com>, "'Hawks Jack (E-mail)'" <jack.hawks@gen.pge.com>, "'Jim
Willey (E-mail)'" <elliottsa@earthlink.net>, "'Joe Greco (E-mail)'"
<jgreco@caithnessenergy.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>, "'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>, "'Ross Ain (E-mail)'" <ain@worldnet.att.net>,
"'Steve Iliff'" <siliff@riobravo-gm.com>, "'Steve Ponder (E-mail)'"
<steve_ponder@fpl.com>, "'Tony Wetzel (E-mail)'" <twetzel@thermoecotek.com>,
"'William Hall (E-mail)'" <wfhall2@duke-energy.com>,
<trusso@mcnallytemple.com>, <sadlersa@earthlink.net>, <mstultz@epsa.org>,
<rtemple@mcnallytemple.com>, <tracy.fairchild@edelman.com>,
<megan.beiser@edelman.com>, <deborah.fiorito@dynegy.com>, <lchurch@epsa.org>,
Katie Kaplan <kaplan@iepa.com>, <tcwillia@duke-energy.com>,
<rwhyde@duke-energy.com>, <tmcmorrow@manatt.com>,
<Suzy.L.Rodriguez@dynegy.com>
		 cc:
		 Subject: LT Contracts:  A History of Inaction by the CPUC

Attached is a history of inaction by the CPUC in regards to long-term
contracts. We are graphically portraying this as a timeline, incorporating
the quotes.

We would like to also incorporate any public long-term contract offers IEP
members made that utilities were not able to enter into because of the CPUC.
?This will once again help reinforce that IEP members are part of the
solution. ?

Please forward this information, or any other comments, to me or Katie by 8am
PST, Thursday April 26.

Please call if you have any questions.

Thanks,
Jean

--
Jean Munoz
McNally Temple Associates, Inc.
916-447-8186
916-447-6326 (fx)

 - Long Term Contract Timeline


Jeff has a meeting right after the building tour, so unfortunately he won't
be able to attend.

Thanks,
Joannie

stanmarek@marekbros.com on 05/09/2001 11:21:54 AM
To: Jeff.Skilling@enron.com
cc:

Subject: Re: Follow-Up - Brent Larsen

Joannie,

I'm back in town and have everything set for Friday AM at 9.  I am also
going to Hobby Performing Arts immediately afterwards with Paul Hobby and
we'd love to have Jeff join us for a short tour of that job as well.

Thanks,

-Stan


FYI -  Just wanted to let everyone know my extension.
(54013)
                                Also, if you really need something and I am
not at my
                                desk or at lunch, you can page me.
(713-707-5609).
                                My mobile number is (281-799-5593).  If you
need anything
                                just give me a call.

                               Thanks,
                               Brandee


I should be in the office after 1100 on Friday.  Are you available?

Kay

	From:  Ben F Jacoby @ ECT                           09/12/2000 07:15 PM

Sent by: Ben Jacoby@ECT
To: Kay Mann/Corp/Enron@ENRON, Sheila Tweed/HOU/ECT@ECT
cc:

Subject: Re: ESA equipment purchase

My revisions. Let's discuss at your earliest convenience.

Ben

	From:  Kay Mann @ ENRON                           09/08/2000 01:48 PM

To: Ben Jacoby/HOU/ECT@ECT
cc:
Subject: ESA equipment purchase

Ben,

Here's a draft of an MOU for the sale of the LMs and ABB equipment to ESA.
One issue is when this transaction can close.  Since the equipment is owned
by WestLB and since the feeling is we don't want to involve WestLB in the
transaction, the actual transfer would take place at the termination of the
WestLB facility.  If another approach is preferred, we will need to circle
back with Lisa.

A second issue I see is with the concept that GE will need to look to both
ENA (or WestLB's successor) for some of the payments, but look to ESA for
payment for changes, storage, etc.  As far as I know, this concept hasn't
been addressed with GE.

I re-calculated the overhead charge, so you might want to check it out.

I look forward to your comments.

Kay


---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
12/16/98 11:07 AM ---------------------------

Sara Shackleton
12/15/98 05:49 PM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT
cc:
Subject: Elektro Letter : ECT and EI

Attached is the latest redline draft of the letter to signed by ECT and EI.
I have never received any comments from anyone.  Mark, you heard Ray Bowen's
voice mail.  Thanks.  Sara
---------------------- Forwarded by Sara Shackleton/HOU/ECT on 12/15/98 05:44
PM ---------------------------

Joyce Dorsey
12/15/98 04:24 PM
To: Raymond Bowen/HOU/ECT@ECT, Clement Lau/HOU/ECT@ECT, Chris
Day/HOU/ECT@ECT, AnnMarie Tiller/Corp/Enron@Enron, James
Ginty/Corp/Enron@Enron, Michael Herman/Corp/Enron@Enron, Kathy M
Lynn/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Chang/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Barry J
Schnapper@ENRON_DEVELOPMENT, Mitch
Taylor/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cassandra
Schultz/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lynn
Aven/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert H
George/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cliff
Shedd/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sara Shackleton/HOU/ECT@ECT,
Pushkar Shahi/HOU/ECT@ECT, Harry Arora/HOU/ECT@ECT, Kent
Castleman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Edson
Pavao/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Nancy
Muchmore/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michael D
Jones/AA/Corp/Enron@Enron
cc:
Subject: Samba Draft

---------------------- Forwarded by Joyce Dorsey/HOU/ECT on 12/15/98 04:23 PM
---------------------------

Jenny Helton
12/15/98 03:04 PM
To: Kathy M Lynn/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Chang/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bob Bowen/HOU/ECT@ECT, Gareth
Bahlmann/HOU/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT
Subject: Samba Draft

Attached in the redlined Samba Swap Draft from Sara Shackleton.

Thank you.


I want to thank all of you for your efforts yesterday to help our customers get their
	business taken care of on the Enron pipes.  It looks like we will be in the same
	mode of operation at least through this morning.

	Please make every effort to contact your customers and let them know they
	can get into Hottap through URL:

			www.hottap.enroncorp.com

	If they are having problems accessing Hottap, give them the pertinent information they
	need to do their "next cycle" business (ie. schedule quantity info).  Let's be proactive and
	help the customers through this frustrating time.

	I also appreicate everyone staying around until 6:00 last night.  It is good to work with
	a group that is willing to help out where possible.

	Also, Toby thanks for your "hours" of work on sending out the emails to our customers
	to let them know what our plans were.

	Thanks. Lynn


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

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

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

GAC

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

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

Best,
Jeff

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

Everyone,

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

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

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

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

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

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

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

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

8.  Here is the quote from the Friday Burrito:

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

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

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

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

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

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

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

Thanks a lot for your assistance.

Caroline

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

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

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

-Kit


Tom,

Maybe I mis-interpreted again, but here are the graphs for site total (the
boxplots are still by turbine). This is for May. I will wait to see if this
is more like what you need before continuing with the earlier months.

Mark


---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 04/03/2001
07:59 AM ---------------------------

"Matt Lenhart" <mlenhart@houston.rr.com> on 04/03/2001 05:44:52 AM
To: <matthew.lenhart@enron.com>
cc:

Subject:

?
 - Kottonmouth Kings - 02 - Here We Go Again-High Society.mp3


-----Original Message-----
From: 	Todd Bertges <tbertges@mrportland.com>@ENRON
Sent:	Wednesday, November 14, 2001 4:17 PM
To:	Dean, Clint
Subject:	MRI ENERGY

Dear CLINT,
It was nice talking to you today. Thank you for your willingness to help me.    If you think of anyone that fits the qualifications or would be a good person to network with, please email their names and phone numbers. Naturally I will keep your name confidential. I hope to reciprocate some day. Please keep my e-business card on file for exciting career opportunities in the energy industry. Thanks again.
Have A Great Day.
Todd
__________________________________________________________________________
TODD BERTGES
Recruiter, Energy Staffing Group
Management Recruiters of Portland, Inc.
Phone: (503) 290-1179
Phone: (800) 979-8701 ext. 1179
Fax: 503-282-4380
E-mail: tbertges@mrportland.com
Web: www.mrportland.com/html/energy.htm


Can you be available for a call with S&W on Monday 10:00 CST?


ENRON SOLD APC  20 MW LL ON SUNDAY ONLY.  BPA(T) MONTHLY FIRM O#311916.  THE
(T) HAS BEEN CALLED INTO BPA. (SEE PATH BELOW)

BURBANK@TULOOKA-BURBAK(T) TUL/SYLMAR/NOB-APC-EPMI-BPA(T) NOB/BE
O#311916-APC-SNPD-BPA(T) BE/EWEB-EWEB@SYS

THANKS
MIKE PURCELL


Maruti,

What about September 8, Friday?

Vince

"more" <mmore@houston.rr.com> on 08/25/2000 03:27:26 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Enron open positions

                            Hello  Mr. Kaminski,

                               Can we  meet for a quick lunch again at your
convenience? Just to bring you up to date about my search for the right
opportunity. Also I noticed in the Risk magazine that Enron Investment
Partners and AIG have joined TreasuryConnect as strategic partners to
capitalize on internet-based transaction execution of financial derivatives.
I would like to explore if I can be any help to Hank Finkenstaedt, the
Director of Enron Investment Partners.

                            Please let me know what day and time might be
convenient for you.

Thank you.

Sincerely,

Maruti More
832-251-7267
mmore@houston.rr.com

-----Original Message-----
From: more <mmore@houston.rr.com>
To: Vince J Kaminski <vkamins@ect.enron.com>
Date: Monday, July 10, 2000 11:28 AM
Subject: Enron open positions

                            Dear Mr. Kaminski:

                            I would  like to explore the opportunity to join
Enron Investment Partners. I understand that Enron has $20 million fund set
up to finance start-ups, and Gene Humphreys and his assistant John Godbold
are trying to attract minority -owned start-up firms. I also learned that
Enron has plans to increase the size of this fund to $200 million. I can find
these opportunities for Enron around the Globe. Given my background as a
Chartered Financial Analyst, with hands-on experience in investment
management covering financial derivatives, fixed income, and equity, I can be
a valuable resource to do the due diligence, origination, valuation, and
monitoring of these start-ups. Would you please help me arrange a meeting
with either Gene Humphreys, Ted Murphy, or may be Ken Lay?

I am pasting below the job opportunities open at Enron. I am also interested
in these positions and would like to meet with the hiring manager.

I will give you a call to follow up.

Thank you.

Sincerely,

Maruti More
832-251-7267

            job 0000104282 details

              MANAGER/DIRECTOR
            ESSENTIAL FUNCTIONS: Candidates will be responsible for helping
facilitate the transaction approval process for domestic and international
investments. These investments include, but are not limited to, private
equity, project development, venture capital, and structured credits.
Candidates will work with business developers and underwriters in
identifying, understanding, and documenting transaction risks. They will also
assist in preparing transaction approval documentation. In addition, they
will oversee the valuation, modeling, and simulation process for investments.
The primary focus is to identify and measure key risk factors from both a
quantitative and a qualitative perspective with an emphasis on fundamental
analysis. The candidate must be able to assist in management and training of
departmental staff and in formulation of investment valuation policies and
procedures.
            ESSENTIAL REQUIREMENTS: ? Strong interpersonal skills ?
Understanding of transaction structuring and credit risk issues ?
Understanding of finance and valuation methodologies. ? Proficiency with
Excel cash flow models ? Experience with financial statement analysis ?
Understanding of statistics and simulation techniques (Monte Carlo).

            PREFERRED SKILLS: NA.

            SPECIAL CHARACTERISTICS: The ideal candidate will possess an
undergraduate degree in finance, accounting, or economics, and an MBA.
Relevant experience could include credit analysis or valuation/finance
experience. Manager/Director in the Risk Assessment department of a $20
billion energy company.

            CONTACT: PLEASE EMAIL RESUMES TO corpjobs1@enron.com, PLEASE
REFER TO JOB NO.104282 WHEN RESPONDING.

            Job ID  0000104282
                        Department  CAPITAL PRICING / RISK AN
                        Company  CORPORATE STAFF
                        RISK ASSESSMENT AND CONTROL
                        Location  HOUSTON, TX
                        Type
                        Posting date 05-JUN-00

            To submit your resume for this position:
            Online Enter your resume ID:   No Resume ID?  You can create a
resume on-line, deposit it in our database, and receive a Resume ID using our
Resume Builder.

                        Your Resume ID will allow you to submit your resume
once, but route it to up to 20 open positions.Enron does not process resumes
that are not sent in response to specific positions.

                        If you have an existing resume in electronic format,
the Resume Builder allows you to cut and paste your whole resume.

                        Fax Our fax number is 1-888-588-7152.
                        You must tell us which jobs you're interested in, or
we will not be able to process your resume.Write on your resume (or on a
separate page) all of the jobs IDs of the jobs you're interested in pursuing.

            An Equal Opportunity and Affirmative Action Employer

--------------------------------------------------------------------

            Top of page  Copyright 1997-1999 Enron Corp. All rights
reserved.  Contact us.

job 0000104281 details

              STAFF/SPEC/SR SPEC
            ESSENTIAL FUNCTIONS: "SNAPSHOT" preparation - Responsible for
preparation of quarterly asset "snapshots" which provides Enron's Senior
Management with summarized operational and financial information on selected
merchant portfolio investments. Responsibilities associated with preparation
of snapshots include: researching publicly traded companies, calculating key
financial data, updating and analyzing graphical summaries of performance,
reviewing press releases for recent events data, updating stock prices from
Bloomberg ? WEEKLY UNDERWRITERS REPORT - Full responsibility for updating and
distributing weekly Underwriters' Report. Involves regular interaction with
Executive Vice President, London office personnel, as well as several Vice
Presidents within Underwriting Group within RAC. ? VARIOUS PROJECTS - will be
utilized on special projects on an as needed basis
            ESSENTIAL REQUIREMENTS: Accounting/Finance/Economics Degree with
0 - 4 years business experience. Excellent computer skills - EXCEL,
POWERPOINT, Bloomberg, Word Research skills and the ability to interact with
a variety of personnel and departments. Excellent organization skills. Self
starter, quick learner. Must be team player. Good writing skills with the
ability to concisely summarize operational and financial results.

            PREFERRED SKILLS: NA.

            SPECIAL CHARACTERISTICS: . Entry level position with the
opportunity to gain familiarity with all of Enron's portfolio assets. Future
advancement in asset and portfolio management possible for candidate who
exhibits competence and creativity.

            CONTACT: PLEASE EMAIL RESUMES TO enajobs1@enron.com, PLEASE REFER
TO JOB NO. 104281 WHEN RESPONDING.

            Job ID  0000104281
                        Department  DUE DILIGENCE/ASSET MGMT
                        Company  CORPORATE STAFF
                        RISK ASSESSMENT AND CONTROL
                        Location  HOUSTON, TX
                        Type
                        Posting date 05-JUN-00

            job 0000102789 details

              SR SPECIALIST
            ESSENTIAL FUNCTIONS: In this position candidates will model, run
monte-carlo simulations, evaluate capital investments. These investments will
cover a wide range. Candidates will be responsible for the validation of
models as well as insuring the accuracy and integrity of the model and
underlying assumptions. The primary focus will be to provide an objective
valuation for an investment by identifying and measuring key risk factors
from both a quantitative as well as qualitative perspective. ? Understanding
of valuation techniques applied to equity or structured financial products. ?
Understanding of cash flow models and option pricing models. ? Proficiency in
Excel. ? Understanding of project finance and risk mitigation techniques. ?
Experience with financial statement analysis and Pro Forma Statements. ?
Understanding of statistics and application to financial analysis.
            ESSENTIAL REQUIREMENTS: NA.

            PREFERRED SKILLS: ? Understanding of simulation methodologies
such as MonteCarlo. ? Exposure to statistical analysis software such as
Crystal Ball or @Risk. The ideal candidate will possess an undergraduate
degree in finance, accounting, or economics and have 2 to 3 years of
financial modeling experience and an MBA/CPA.

            SPECIAL CHARACTERISTICS: NA.

            CONTACT: PLEASE DO NOT CONTACT THE HIRING MANAGER. PLEASE NO
FAXES. Send resumes via e-mail to corpjobs1@enron.com or mail to Enron, attn:
TVasut - EB3628, 1400 Smith St., Houston, TX 77002. Please refer to job #
102789

            Job ID  0000102789
                        Department  CAPITAL PRICING / RISK AN
                        Company  CORPORATE STAFF
                        RISK ASSESSMENT AND CONTROL
                        Location  HOUSTON, TX
                        Type
                        Posting date 17-MAR-00

 - att1.htm


---------------------- Forwarded by Elizabeth Sager/HOU/ECT on 02/22/2000
10:24 AM ---------------------------

"Andy Katz" <AKatz@eei.org> on 02/08/2000 09:50:44 AM
Please respond to "Wholesale Electric Contract Standardization Group"
<contract@ls.eei.org>
To: "Wholesale Electric Contract Standardization Group" <contract@ls.eei.org>
cc:  (bcc: Elizabeth Sager/HOU/ECT)
Subject: Report on FERC Meeting

As discussed at the 1/26 Working Group meeting, I am circulating minutes of
the meeting we had with the FERC staff regarding tariff/filing/reporting
issues related to the Master Contract.  In sum, the meeting was very
successful in that the staff does not expect their requirements to impose a
burden on the utilization of the Standard Contract.  If you have further
questions, please feel free to contact me.

Andrew S. Katz, Senior Attorney
Edison Electric Institute
701 Pennsylvania Avenue, N.W.
Washington, D.C.  20004
Voice:  202-508-5616
Fax:     202-508-5673
e-mail:  akatz@eei.org

 - FERC Memo.rtf


Here is the summary of the financial information.
Ben


Hi Warren,

Please print these and set me up a binder called NIMO May 2001 Bid.  Please
index the documents.  It would make sense for the documents to be in the same
order as they are on the email.

Thank you.  Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/23/2001 03:21
PM ---------------------------
From: Michael Brown/ENRON@enronXgate on 04/23/2001 03:13 PM
To: Kay Mann/Corp/Enron@Enron
cc:

Subject: FW: NIMO Contracts

Please find the following to be all the contracts we can find pertaining to
the NIMO transaction.

ENJOY!!!!

mlb
x31930

 -----Original Message-----
From:  Meyn, Jim
Sent: Monday, April 23, 2001 2:14 PM
To: Brown, Michael
Subject: NIMO Contracts

Proposed SOS, PPA and MPS contracts from NIMO

Letter from NIMO outlining bidding instructions and bidding options


Start Date: 1/20/02; HourAhead hour: 22;  HourAhead schedule download failed. Manual intervention required.

    LOG MESSAGES:

PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002012022.txt
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
Error: dbCaps97Data: Cannot perform this operation on a closed database
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
!!!Unknown database.
Alias: dbCaps97Data
Error: dbCaps97Data: Cannot perform this operation on a closed database


So your overrulling me again.


Confirming earlier indications, at about 3 pm EDT today, Chairman Tauzin
convened the committee to issue a joint statement with Rep. Waxman and then
recessed the committee subject to the call of the chair following the
Memorial Day Week Recess.  Congress will not return until the week of June 4,
but staff level discussions will likely occur after the three-day weekend.

Chairman Tauzin said that the committee is receiving conflicting information
on the facts in California.  He said it is better to take a little longer to
get the facts straight and evaluate various options, rather than act quickly
but in the wrong way.  He did say he expects that the committee will come to
a bipartisan agreement after the recess.

Behind the scenes, we hear that Democrats appear not to want to reach an
agreement, instead preferring to keep the issue alive.  Republicans, on the
other hand, want to spare their vulnerable West Coast Members another
recorded vote against price caps.  Thankfully, following our collective
efforts yesterday, the discussion has moved off of the 80/20 long term
contract requirement.  Republicans are poised to offer the Ose bill as an
alternative for discussion and amendment if an agreement is not reached.  The
Ose bill would extend FERC's pricing formula to 24/7 and throughout the West.

Staff report that Members were far from agreement and that no one concept was
embraced for further refinement.  It does appear, however, that some Members,
such as Rep. Mary Bono (R-CA) are pushing for some type of price mitigation
that they can vote for.  With Republicans increasingly worried about the
political impact of the energy issue, we will need to continue our work next
Tuesday, starting with an in-depth analysis of the Ose bill.


Tom,

Let's leave everything as it is currently and review the meters in a couple
of days to see if the increases actually occur.

D

Tom Acton@ENRON
05/10/2000 10:40 AM
To: Daren J Farmer/HOU/ECT@ECT, Lisa Hesse/HOU/ECT@ECT, Vance L
Taylor/HOU/ECT@ECT
cc:
Subject: well heads

Daren,  Shore line would like to take meter 9781 from 460 to 1  for the 11 th
gas day.  It flowed the nom for April so they must be having well problems
this month.  Meter 9680 has a change from 739 to 1200.  It flowed in the 700
for April .  Could be new production coming on behind the meter.

Texaco would like to change meter 9826 from 1201 to 1500 for the rest of the
month.  In April they flowed from 1000 to 1300.


Absolutely.   I may have to smooth over the Jim Mehn issue (Chris committed to go to wholesale structuring)

 -----Original Message-----
From: 	Dietrich, Janet
Sent:	Friday, June 29, 2001 3:21 PM
To:	Black, Don; Presto, Kevin M.
Cc:	Belden, Tim
Subject:	deal review

I brought Chris Ahn into the wholesale power group and would be happy to talk with him. Kevin- are you ok with this?
---------------------- Forwarded by Janet R Dietrich/HOU/EES on 06/29/2001 03:19 PM ---------------------------

Don Black
06/29/2001 08:32 AM
To:	Tim Belden/Enron@EnronXGate, Kevin M Presto/Enron@EnronXGate, Janet Dietrich
cc:
Subject:	deal review

Terry Donovan has dug up another two candidates, but both are on the fence.  Could either or all of you volunteer to call them and discuss the benefits of joining this effort?

The pitch should center around the broad reaching interface within both the EES and EWS organization, the exposure to the entire risk management process from cradle to grave, and eventually, good face time with many of the senior leaders within both organizations as they present their research findings.

This is a very hard group to recruit for, so anything you can do would be appreciated.  Send me a mail if you intend to help.

Suzette Emmons - She had some interest and is preparing to rotate but is leaning towards the SE Power Origination group in ENA because she is looking for modeling and commercial experience.  I think she would be a good fit (and also might want to go to Portland) and would like to figure out a way to get her.  She would be another good candidate for a phone call.

Chris Ahn - He had already committed to rotate through Power Structuring and was scheduled to begin following return from his honeymoon in a couple of weeks.  He is reasonably interested in our opportunity (and following that by going to Portland to work in Tim's group) but had concerns about walking away from his commitment to structuring.  By the time he left he was almost ready to join us but wanted to think about it some more.  He is definitely someone that we could sway with a call from the right person.

<Embedded Picture (Device Independent Bitmap)>


We need to confirm all the data on Mark's worksheet.  Let me know if you have
any questions.

---------------------- Forwarded by Chris Germany/HOU/ECT on 10/08/2000 11:42
AM ---------------------------

	Enron Capital Management

	From:  Mark Breese                           10/03/2000 07:56 AM

To: Chris Germany/HOU/ECT@ECT
cc:
Subject:

be nice to include attachment


I have already made plans for the 14th - How about later this weeks or early next. ?

Jake Thomas
503-464-3803

 -----Original Message-----
From: 	Whitt, Mark
Sent:	Monday, October 22, 2001 12:36 PM
To:	Walton, Steve
Cc:	Thomas, Jake
Subject:	RE: Buffalo Power Company LLC - Gas Turbine Power Plant Project

I have to go to the management meeting in San Antonio on the afternoon of the 14th.  Would it be possible to meet in Denver on the morning of the 14th?

 -----Original Message-----
From: 	Walton, Steve
Sent:	Monday, October 22, 2001 10:24 AM
To:	Whitt, Mark; Kaufman, Paul; Calger, Christopher F.
Cc:	Tycholiz, Barry; Bump, Dan J.
Subject:	RE: Buffalo Power Company LLC - Gas Turbine Power Plant Project

Mark,

	I am committed to a meeting in Seattle with the Western Governors and the FERC on November 1 and 2 respectively.  The next meeting of the Wyoming Energy Commission is on November 12-13 in Evanston and a meeting in Spokane on the 15th, leaving the 14th open.  I know that is beyond your two week window, but it would be the best time for me.

Steve

 -----Original Message-----
From: 	Whitt, Mark
Sent:	Friday, October 19, 2001 3:51 PM
To:	Walton, Steve; Kaufman, Paul; Calger, Christopher F.
Cc:	Tycholiz, Barry; Bump, Dan J.
Subject:	Buffalo Power Company LLC - Gas Turbine Power Plant Project

ENA and Crestone (Northern Border's non-regulated affiliate) met with a group of developers and Joe Meyer, Secretary of State in Wyoming, who have proposed to build a 200 MW power plant (expandable to 500 MW) in the Powder River basin of Wyoming.  Their "angle" is that the existing utility, Powder River Electric Coop, cannot meet the demand for electricity and the necessary distribution infrastructure to maintain the pace of development in the Coal Bed Methane BOOM that is happening in the basin.

As you may or may not know, Enron has been very involved in this Coal Bed Methane play since 1998.  ENA is the largest purchaser of 3rd party gas in the basin and Crestone is the largest non-producer gathering company in the basin.  Crestone has a gathering trunkline located near their proposed site.  The developers will be filing a petition to remove this area from the COOP's certificated territory in the next couple of weeks.

There are obviously regulatory issues revolving around their ability to gain access to this "retail" market and the project would not be economically feasible as a merchant plant in the wholesale market.  However, they seem to have some political backing.

These developers recognize that they need Enron's assistance in developing this project on three main fronts:

1.  Power Marketing and Project development
2.  Gas Supplies and Pipeline access
3.  Regulatory and Transmission expertise

Given the fact that Joe Meyer is the early favorite to be the next Wyoming Governor and we are trying to work well with the State of Wyoming, and we have a natural competitive advantage in this market from a gas supply and pipeline perspective, I would like to pursue this opportunity a little further.

Therefore, I am wondering if I could get a Sr. Commercial Power Representative and a Regulatory Representative (Steve Walton would be good since he will be on the Wyoming Energy Commission), to attend a meeting in Denver with myself and the Crestone representatives sometime in the next 2 weeks.

Please give me a call and I can elaborate on the opportunity or answer your questions.  I don't want to make this email a novel!

Thanks a lot.

303-575-6473


This meeting takes place in EB2831.

Thank you
---------------------- Forwarded by Irena D Hogan/HOU/ECT on 12/07/2000 10:58
AM ---------------------------

Jeffrey C Gossett
12/07/2000 10:24 AM
To: Kam Keiser/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT, William
Kelly/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT, Errol
McLaughlin/Corp/Enron@ENRON
cc: Irena D Hogan/HOU/ECT@ECT, Elizabeth Soto/HOU/ECT@ECT
Subject: 8:30 Meeting on systems

There is a 30 minute meeting every morning on the 28th floor at 8:30 about
systems issues from the prior night and to discuss what books were not
officialized.  I have gone to this meeting this week, and I think that we
should always have a representative in the meeting.  Here is what I propose:
We alternate weeks going to this meeting.

Week of :
Dec. 4   - Jeff Gossett
Dec. 11 - Darron Giron
Dec. 18 - David Baumbach
Dec. 25 - Will Kelly
Jan. 1    -  Kam Keiser
Jan. 8    - Errol Mclaughlin

And then we will start over again.
If you can not go,  make sure that someone goes in your place.

Thanks

Irena and Elizabeth -  Can you please add these daily meetings to the
appropriate calender?

Thanks


I saw you called last night.  What was up?  I tried to call a few times.  Is
there any way wew can meet today or tomorrow for the TV?  It is due and I
would rather pay you some money instead another wasted payment with them.
BTW, how much is the payout for most points in the league?  How much for
second?

-----Original Message-----
From: Eric.Bass@enron.com [mailto:Eric.Bass@enron.com]
Sent: Friday, November 17, 2000 10:00 AM
To: Gary.W.Lamphier@enron.com; lwbthemarine@bigplanet.com; Bass, Jason;
daphneco64@bigplanet.com; shusser@enron.com
Subject: New Gore Campaign Sign

---------------------- Forwarded by Eric Bass/HOU/ECT on 11/17/2000 09:59
AM ---------------------------

Brian Hoskins@ENRON COMMUNICATIONS
11/17/2000 09:35 AM

To:   Eric Bass/HOU/ECT@ECT, Hector Campos/HOU/ECT@ECT, Lenine
      Jeganathan/HOU/ECT@ECT, John House/HOU/ECT@ECT
cc:
Subject:  New Gore Campaign Sign

Brian T. Hoskins
Enron Broadband Services
713-853-0380 (office)
713-412-3667 (mobile)
713-646-5745 (fax)
Brian_Hoskins@enron.net

----- Forwarded by Brian Hoskins/Enron Communications on 11/17/00 09:43 AM
-----

                    Milson Mundim

                                        To:

                    11/17/00            cc:

                    09:05 AM            Subject:

----- Forwarded by Milson Mundim/Enron Communications on 11/17/00 09:11 AM
-----

                    Brian Blakely

                                        To:

                    11/16/00            cc:

                    04:45 PM            Subject:

(See attached file: Gore+-+Lieberman.jpg)

Brian C. Blakely
Enron Broadband Services
Transaction Development & Structuring
e-mail:  brian_blakely@enron.net
Phone:  713-853-1433
Mobile:  713-516-0622
Pager:  877-638-1546


I must have deleted the GRI memo I had.  Sorry about that.


-----Original Message-----
From: Keiser, Jeanelle (COMPRINT S) [mailto:jkeiser@wallace.com]
Sent: Mon 1/21/2002 4:10 PM
To: Amanda Keiser (E-mail); Denise Weaver (E-mail); Jennifer Strauss (E-mail); Keiser, Kam; Melissa Decker (E-mail); Robyn Gorder (E-mail); Lomazoff, Heather (COMPRINT S)
Cc:
Subject: FW: You are phenomenal !!

IT'S BEAUTIFUL WOMAN MONTH & TAG YOU'RE IT!
> >
> >   Did you know that it's Beautiful Women Month?
> >
> >   Well, it is and that means you and me. I'm supposed to send this to
> >   FIVE BEAUTIFUL WOMEN, and you are one of them!!!
> >
> >   Facts on Figures;
> >   There are 3 billion women who don't look like supermodels and
> >   only eight who do.
> >
> >   Marilyn Monroe wore a size 14.
> >
> >   If Barbie was a real woman, she'd have to walk on all fours due
> >   to her proportions.
> >
> >   The average woman weighs 144 lb. and wears between a 12-14.
> >
> >   One out of every four college aged women has an eating! disorder.
> >
> >   The models in the magazines are airbrushed -- not perfect!
> >
> >   A psychological study in 1995 found that three minutes spent
> >   looking at a fashion magazine caused 70% of women to feel depressed,
> >   guilty, and shameful.
> >
> >   Models twenty years ago weighed 8% less than the average woman.
> >   Today they weigh 23% less.
> >
> >   ~Beauty of a Woman~
> >   The beauty of a woman is not in the clothes she wears,
> >   The figure she carries, or the way she combs her hair.
> >   The beauty of a woman must be seen from her eyes,
> >   Because that is the doorway to her heart,
> >   The place where love resides.
> >   The beauty of a woman Is not in a facial mole,
> >   But true beauty in a woman is reflected in her soul.
> >   It is the caring that she lovingly gives,
> >   The passion that she shows.
> >   The beauty of a woman
> >   With passing years -- only grows.
> >
> >   An English professor wrote the words, "Woman without her man is
> >   nothing," on the blackboard and directed the students to punctuate it
> >   correctly.
> >   The men wrote: "Woman, without her man, is nothing."
> >   The women wrote: "Woman! Without her, man is nothing."
> >
> >   The Images of Mother
> >   4 YEARS OF AGE ~ My Mommy can do anything!
> >   8 YEARS OF AGE ~ My Mom knows a lot! A whole lot!
> >   12 YEARS OF AGE ~ My Mother doesn't really know quite everything.
> >   14 YEARS OF AGE ~ Naturally, Mother doesn't know that, either.
> >   16 YEARS OF AGE ~ Mother? She's hopelessly old-fashioned.
> >   18 YEARS OF AGE ~ That old woman? She's way out of date!
> >   25 YEARS OF AGE ~ Well, she might know a little bit about it.
> >   35 YEARS OF AGE ~ Before we decide, let's get Mom's opinion.
> >   45 YEARS OF AGE ~ Wonder what Mom would have thought about it?
> >   65 YEARS OF AGE ~ Wish I could talk it over with Mom.
> >
> >   ***Please send this to at least five phenomenal women today in
> >   celebration of Women's History Month.
> >   If you do, something good will happen.... YOU will boost another
> >   woman's self-esteem!