Enerfax Daily
NORTH AMERICA'S FREE POWER AND GAS INFORMATION SOURCE
   Wednesday, January 23 2002 No. 910
Visit: http://www.enerfax.com/  or for Oil Prices & News http://www.enerfaxgold.com/

PHYSICAL NATURAL GAS PRICES
Gulf/Eastern Region
| Agua Dulce              | 2.06  |
| ANR SE                  | 2.09  |
| Carthage TG             | 2.12  |
| Chicago Citygate        | 2.14  |
| Columbia Gulf Onshore   | 2.15  |
| Dominion South Point    | 2.27  |
| Henry Hub               | 2.18  |
| Houston Ship Channel    | 2.20  |
| Katy Hub                | 2.14  |
| NGPL LA Pool            | 2.08  |
| NGPL - Midcontinent     | 2.04  |
| NGPL STX                | 2.07  |
| NGPL TX/OK              | 2.08  |
| NNG Demarc.             | 2.10  |
| Niagara                 | 2.34  |
| Sonat Tier 1            | 2.14  |
| TCO IPP Pool            | 2.25  |
| Tetco ELa               | 2.14  |
| Tetco M-3               | 2.45  |
| Tetco STX               | 2.08  |
| TGP Zone 0              | 2.07  |
| TGP Zone 1 (500 Leg)    | 2.12  |
| TGT Zone SL             | 2.15  |
| New York Citygate       | 2.52  |
| Transco Station 65      | 2.22  |
| Transco Zone 6 (NY)     | 2.52  |
| Trunk ELa               | 2.10  |
| Western Region
| California Border       | 2.16  |
| El Paso Keystone        | 2.04  |
| El Paso San Juan-Blanco | 2.03  |
| Waha Hub                | 2.06  |
| Canadian/Rockies Region
| Nova/Aeco (C$/gig)      | 3.02  |
| Dawn Hub/Union          | 2.24  |
| Northwest Stanfield     | 2.09  |
| Wyoming Pool            | 1.96  |
| Opal                    | 1.98  |
| PGT-Malin               | 2.14  |
| Sumas                   | 2.07  |
Flow Date 1/23
-------------------------------------------------------------
NATURAL GAS FUTURES
Henry Hub
12 Month Strip  2.4628 -0.0708
18 Month Strip  2.6023 -0.0552
| Month | High  |  Low  | Close | Change |
| FEB   | 2.130 | 2.113 | 2.106 | -0.130 |
| MAR   | 2.138 | 2.121 | 2.118 | -0.118 |
| APR   | 2.195 | 2.182 | 2.178 | -0.101 |
| MAY   | 2.298 | 2.274 | 2.270 | -0.082 |
| JUN   | 2.360 | 2.345 | 2.338 | -0.074 |
| JUL   | 2.440 | 2.410 | 2.413 | -0.067 |
| AUG   | 2.495 | 2.460 | 2.461 | -0.065 |
| SEP   | 2.505 | 2.470 | 2.473 | -0.056 |
| OCT   | 2.530 | 2.530 | 2.503 | -0.049 |
| NOV   | 2.750 | 2.720 | 2.728 | -0.044 |
| DEC   | 2.955 | 2.920 | 2.938 | -0.034 |
| JAN   | 3.055 | 3.000 | 3.028 | -0.029 |
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Natural Gas Futures Driven Lower by Lack of Fundamentals

Natural gas for February delivery on the NYMEX tumbled $0.13 to $2.106 per MMBtu yesterday on mild weather and a continuing huge storage inventory. The March contract lost $0.118 to $2.118 per MMBtu. Contracts were in contango with each succeeding month more expensive than the prior month. There's a lack of support across the board. Cash prices will likely weaken more by the weekend ahead of next Tuesday's February contract expiration with forecasts again predicting above normal temperatures for the next two weeks across most of the nation. A general lack of fundamentals and technical weakness should pressure the market below $2 soon. This weeks AGA storage report is expected to show a 130  140 Bcf withdrawal. Anything less and the market could looking at $1.70 per MMBtu by expiration. As storage operators face requirements to release volumes out of storage, that extra gas hitting the market could force prices down quickly. Natural gas for next day delivery across the US! and Canada was generally $0.20  $0.40 lower yesterday. Natural gas for next day delivery at the Henry hub lost $0.23 to $2.18 per MMBtu.
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Today's Power Bulletins
* In Case Brought by United States Enrichment, International Trade Commission Approves Import Duties of 2.26% on More than $200 million of Enriched Uranium from Britain, Germany and Netherlands
* Senator John Kerry Scheduled to Deliver Speech on Energy to Center for National Policy Today
* Greenlight Power Technologies Launches 5th Generation Fuel Cell Test Station
* AEPs Yearly Earnings Climb 26% Despite Weak Economy and Mild Weather in 4th Quarter
* Pacific Gas and Electric Tells Federal Judge California Should Allow It to Bypass State Laws to Get Out of $13.2 Billion Bankruptcy
* Western Spot Power Prices Fall on Weather Related Demand
* Northeast Spot Power Prices Slump Amid Warm Weather Forecast
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 Unocal Finds New Alaska Natural Gas Reservoir

Unocal has discovered a new natural gas reservoir on Alaskas Kenai peninsula which is expected to yield significant natural gas reserves. The test well had a 39-foot pay interval yielded restricted flow rates of up to 11.2 MMcf per day. The Grassim Oskolkoff 1 well, located 35 miles south of Kenai, Alaska, is operated under a joint operating agreement between Unocal and Marathon Oil. Unocal owns 40% working interest in the well and the surrounding 25,000 acre exploration area, and Marathon owns the remainder Unocal has also begun a separate 3-well exploration program on the southern Kenai Peninsula. Unocal and Marathon have formed Kenai Kachemak Pipeline to build a natural gas pipeline that will connect the new producing area with the existing south central Alaska pipeline system.
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-------------------------------------------------------------
Natural Gas NYMEX Volume
02FEB   25,464
02MAR    8,953
02APR    5,940
02MAY    1,888
02JUN    2,562
02JLY    2,069
02AUG    2,513
02SEP    1,092
02OCT    2,242
02NOV      907
02DEC    1,534
03JAN    1,307
03FEB      421
03MAR    1,240
03APR      436
03MAY       30
03JUN      111
03JLY        4
03AUG        7
03SEP       11
03OCT        8
03NOV        7
03DEC        6
04JAN      105
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Enrons Assets Being Sold Off

Now that Enron's energy trading business, which produced about 90% of the its $100 billion of sales in 2000, has been sold to UBS for no cash and a share of future profits, the rest of the companys assets are being sold off to pay creditors a small portion of over $40 billion that they are owed. Although company officials have said they are committed to keeping the core intact, it is slowly being dismembered and there may be little left to reorganize. Enron claimed assets of more than $50 billion in its bankruptcy filing, but they may actually bring much less when sold. The commodity trades and derivative contracts that Enron entered into before filing for bankruptcy were estimated to be worth up to $8 billion last month, but now it says the about 700 open position are worth about $1.3 billion. It is seeking court permission to settle the contracts to raise cash. Since it collapsed, Enron has sold about $520 million of contracts and assets and lost control of its $2.7 bi! llion Northern Natural Gas Pipeline, but is contesting Dynegy's rights to the pipeline. As part of its plans to emerge from bankruptcy, Enron wants to place litigation against it in a trust and raise between $4 - $6 billion by selling assets in Latin America and Asia. Centrica Plc has agreed to buy Enron's UK energy supply business for $137.1 million and Kinder Morgan plans to buy Enron's share in a natural gas pipeline for $68 million. AEP has purchased wind generators in Texas from Enron for $175 million. Enron could also ask the bankruptcy judge to allow the $2.98 billion sale of its Portland General Electric utility to Northwest Natural Gas. It also hopes to sell other businesses, including the Wessex water utility in Britain. Currently Enron's most valuable asset is Transwestern Pipeline, which is worth about $1.2 billion, and might get creditors $640 million after paying off about $560 million in debt.
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PHYSICAL POWER PRICES
|            | High  |  Low  | Average |
|            | $/MWh | $/MWh |  $/MWh  |
| Cinergy    | 18.50 | 17.50 |  18.00  |
| ECAR       | 20.50 | 17.00 |  18.75  |
| ERCOT      | 17.55 | 17.00 |  17.30  |
| Entergy    | 19.00 | 17.85 |  18.00  |
| TVA        | 23.75 | 21.95 |  22.50  |
| ComEd      | 19.00 | 17.00 |  18.60  |
| Nepool     | 28.00 | 27.25 |  27.75  |
| PJM West   | 23.50 | 22.40 |  22.55  |
| Main       | 19.00 | 15.00 |  18.20  |
| MAPP       | 22.00 | 19.00 |  20.35  |
| Palo Verde | 23.50 | 21.50 |  22.45  |
| Mid C      | 19.00 | 18.50 |  18.80  |
| COB        | 21.50 | 21.00 |  21.30  |
| 4 Corners  | 22.00 | 20.50 |  21.45  |
| Mead       | 24.00 | 21.50 |  22.35  |
| NP 15      | 23.75 | 22.50 |  22.95  |
| SP 15      | 24.00 | 22.15 |  23.05  |
Power Delivered 1/23
-------------------------------------------------------------

Virginia Wants FERC to Rethink RTOs

The Virginia State Corporation Commission claims none of the existing regional transmission organizations currently proposed for the Mid-Atlantic and Northeast will provide significant benefits for the state, and has told the FERC to reassess the RTO landscape. Meanwhile, on Northeastern RTO formation, most states are urging the FERC to maintain the status quo and focus on incorporating market standards rather than require a single RTO to cover the entire region. The Virginia SCC says its location, bordering the Mid-Atlantic, Southeast and Midwest, puts them in a delicate situation in relation to the RTO question.
-------------------------------------------------------------

Allegheny Energy Supply Company, Salt River Project (SRP) and Sempra Energy
Resources announce Open Season for proposed Desert Crossing Gas Storage and
Transportation System. Open Season for customers interested in capacity
begins Jan. 10, 2002 and extends through Feb. 8, 2002.  For information,
visit http://www.desert-crossing.com
-------------------------------------------------------------

Todays Gas Bulletins
* Congress Gears Up for High-Profile Enron Hearings
* Enron Says It Ordered All Staff to Preserve All Papers
* Federal Court to Hear Arguments Today Regarding Destruction of Enron-Related
Documents in Response to Amalgamated Bank's Request to Discover How and Why Andersen Destroyed Documents
* Enron Europe Creditors Face $900 Million Trading Loss
* Dynegy Elects Glenn Tilton and John Watson to Board of Directors
* CES International CEO Dave Jones to Speak Tomorrow Hotel at JP Morgan H&Q Energy Technology Conference at New York Palace Hotel
* NuWay Energy to Acquire Mendell Energy Technologies, Including 95,000 Acres of Leases in Montana
* Kerr-McGee Replaces 490% of 2001 Oil and Natural Gas Production
------------------------------------------------------------

Enron's Dabhol Project Nears Auction Block

Lenders to Enrons $2.9 billion Dabhol Power in India are set to put it on the auction block, with 6 major companies likely to express interest. The plant has been idle since last June after a dispute over the cost of the power for its sole customer, the Maharashtra State Electricity Board. Due diligence is expected to begin early next month, with a possible deadline of the middle of March for submitting offers. Interested foreign companies are Shell, TotalFinaElf and Gaz de France. Potential Indian buyers are BSES Ltd, Tata Power and Gas Authority of India. Publicity which focused on Enron's problems in India has given the country's image a black eye as a safe place to invest. Some in India claim that Enron coerced and hoodwinked a freshly elected state government into signing off on a power project it had previously tried to stop. The World Bank, which refused to fund the project, said it was too large, too costly and the terms were slanted in Enrons favor. Maharashtras! demand for energy did not rise as expected and meanwhile, the devaluation of the Indian rupee and climbing prices for naphtha raised the price of power production. Enron owns 65% of the Dabhol project, GE and Bechtel each own 10% and the Maharashtra State Electricity Board 15%. Those interested in acquiring the plant must put up a non-refundable $100,000 in earnest money. The sellers intend to sell the plant as a whole, but bidders may bid jointly for the operation and split it up later. A London data room will be established for the commercial and financial agreements, operating and historical data, projections and information on the status of Phase II. Construction on the 1,444 MW second phase was stopped when the state electricity board fell $240 million behind in payments. The 740 MW first phase was launched in 1999.
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Debt Rating Agencies Considering Reforms

Following complaints by investors, analysts and lawmakers that Moody's, S?and Fitch were too slow to downgrade Enron, the credit agencies have all said they are considering reforms that would speed up their review process for altering a company's ratings. The changes could lead ratings to become more volatile and affect stock and bond prices. It could also raise the cost of  borrowing for companies that need cash. Fitch and Moodys have said they may eliminate outlooks, meant to be a guideline of a rating's possible future direction. There will now be more rating changes that are multiple notches and corporate ratings will become more volatile and lower than they have been over the last decade. The agencies have already changed their criteria for the assessment of a companys ratings. All are taking a closer look at rating triggers and a companys ability to raise needed cash. This month, the agencies downgraded Kmart, which has now filed for bankruptcy, several notches i! n a matter of days. Moodys rated Kmarts debt as investment-grade a little more than a month ago. Moody's put Calpine on review for only one day before lowering its debt rating. It also kept Ford on review for only 5 days before downgrading its debt. The effects of the Enron collapse could hurt other companies facing a cash crunch by subjecting them to more stringent scrutiny. S?said it is focusing more on movement in a companys stock and bond prices.
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PanCanadian to Spend C$1.7 Billion This Year

PanCanadian Energy plans to spend C$1.7 billion in 2002 to increase both its natural gas production and proven oil reserves by 10%. About 70% of the expenditures will be directed at natural gas projects with C$430 million spent on prospects in Canada's East Coast offshore region, the deepwater Gulf of Mexico and the North Sea. PanCanadian plans to drill 1,800 wells this year, down from about 2,150 in 2001. Last had major offshore and international exploration successes, with preliminary results showing that it replaced about 170% of production. Oil production is expected to decline by 5% year over year, although phase one work on the Christina Lake oil sands project will be completed early this year, and has the potential to add significant reserves and production in the medium term. PanCanadian also is evaluating production options with its partners at its Buzzard oil project in the North Sea. PanCanadians share of the discovery is more than 180 million barrels of recov! erable crude oil.
-------------------------------------------------------------
POWER FUTURES
| Month |   COB   | Change |   PV    | Change |
| FEB   |  21.25  | +0.00  |  22.95  | +0.00  |
| MAR   |  18.50  | +0.00  |  22.60  | +0.00  |
| APR   |  20.00  | +0.00  |  23.75  | +0.00  |
| MAY   |  18.25  | +0.00  |  24.75  | +0.00  |
| JUN   |  20.00  | +0.00  |  28.75  | +0.00  |
| JUL   |  29.50  | +0.00  |  38.25  | +0.00  |
| AUG   |  40.00  | +0.00  |  43.50  | +0.00  |
| SEP   |  34.00  | +0.00  |  33.25  | +0.00  |
| OCT   |  28.00  | +0.00  |  27.00  | +0.00  |
| NOV   |  27.50  | +0.00  |  26.00  | +0.00  |
| DEC   |  28.50  | +0.00  |  26.50  | +0.00  |
| JAN   |  28.50  | +0.00  |  28.00  | +0.00  |
| Month | Entergy | Change | Cinergy | Change |
| FEB   |  18.65  | +0.00  |  19.55  | +0.00  |
| MAR   |  19.50  | +0.00  |  20.80  | +0.00  |
| APR   |  19.50  | +0.00  |  20.80  | +0.00  |
| MAY   |  22.75  | +0.00  |  24.70  | +0.00  |
| JUN   |  22.70  | +0.00  |  29.15  | +0.00  |
| JUL   |  34.00  | +0.00  |  37.30  | +0.00  |
| AUG   |  34.00  | +0.00  |  37.30  | +0.00  |
| SEP   |  21.60  | +0.00  |  22.25  | +0.00  |
| OCT   |  21.30  | +0.00  |  21.85  | +0.00  |
| NOV   |  21.30  | +0.00  |  21.85  | +0.00  |
| DEC   |  21.30  | +0.00  |  21.85  | +0.00  |
| JAN   |  24.00  | +0.00  |  25.00  | +0.00  |
-------------------------------------------------------------
Power Futures
| Month |  PJM  | Change |
| FEB   | 23.65 | +0.00  |
| MAR   | 23.85 | +0.00  |
| APR   | 23.85 | +0.00  |
| MAY   | 27.00 | +0.00  |
| JUN   | 33.50 | +0.00  |
| JUL   | 44.25 | +0.00  |
| AUG   | 44.25 | +0.00  |
| SEP   | 24.70 | +0.00  |
| OCT   | 24.70 | +0.00  |
| NOV   | 24.70 | +0.00  |
| DEC   | 24.70 | +0.00  |
| JAN   | 28.05 | +0.00  |
-------------------------------------------------------------

PNM Plans to Retire Transmission Line Debt

Public Service Company of New Mexico has asked the New Mexico Public Regulation Commission for authority to enter into a transaction that would cause the retirement of $27 million of Secured Facility Bonds due 2012. The proposed transaction will reduce PNM's long-term debt and give the company majority ownership of the 216-mile long Eastern Interconnection Project line, which connects PNM and the Western US with the West Texas electrical grid. PNM entered into a sale-leaseback arrangement in 1985 that allowed the company to levelize the EIP's cost to PNM and its customers over the lease period. The proposal would result in the redemption on April 1, 2002 of the Secured Facility Bonds at a price of $1054.30 per $1000 principal plus accrued interest to April 1, 2002.
-------------------------------------------------------------

Energy Seminars, Inc. Announces Key Seminar Offerings for January:
Energy Seminars will be going to Florida and Calgary in 2002!

Click to http://www.energyseminars.com  to see our 2002 schedule.
Register on-line at http://www.energyseminars.com  or call Registrar Gina Patrick
Phone: 281-362-7979
FAX: 281-296-9922
--------------------------------------------------------------------------------------------------------------------------

House Energy Committee to Subpoena Andersen Executives

The House of Representatives Energy and Commerce Committee will subpoena four former and current executives of Andersen to appear at a hearing on the accounting firm's role in the Enron fiasco. The four to be subpoenaed are: CEO Joseph Berardino, fired Andersen partner David Duncan, and managers Michael Odom and Nancy Temple. The oversight and investigations subcommittee of the Energy Committee has scheduled hearings for tomorrow. The full committee has also scheduled a hearing for next week. Opening remarks will be made on January 29th, with a full committee hearing to follow on January 30th.
-------------------------------------------------------------
                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.
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8610 S. Hwy 277
Abilene, TX 79606
Ph 915 698 3699
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-------------------------------------------------------------
FINANCIAL SUMMARY
The TSE 300 slid 23.56 points to 7559.29
The CRB Index dropped 0.98 points to 189.09
The US Dollar increased 0.06 points to 117.57
The Dow declined 58.05 points to 9713.80
The S?500 fell 8.27 points to 1119.31
The Nasdaq was down 47.81 points to 1882.53
February NYMEX Crude Oil rose 0.34 to 18.34
Canadian-US Exchange dipped 0.0049 to 1.6083
-------------------------------------------------------------
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Please welcome our advertisers by visiting these websites.http://www.e-acumen.com http://www.kwi.com/ http://www.fea.com/ http://www.caminus.com/ http://www.progas.net/wip http://www.ziffenergyconferences.com/ http://www.energyseminars.com http://www.desert-crossing.com http://www.epis.com http://www.rwbeck.com  http://www.NewEnergyAssoc.com
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service .


come down here and visit me


Sally,

Congratulations on your promotion. . .it is well deserved!  You have been
such a big influence in my career, and I sincerely appreciate all that you do.

Thanks again,
Carrie
---------------------- Forwarded by Carrie Slagle/HOU/ECT on 01/16/2001 10:56
AM ---------------------------

	Enron North America Corp.

	From:  Office of the Chairman @ ENRON                           01/12/2001
07:31 PM

Sent by: Office of the Chairman@ENRON
To: All Enron Worldwide
cc:
Subject: Managing Director and Vice President Elections

The Managing Director PRC Committee met this week to elect individuals to
Managing Director and Vice President positions.  These employees are
recognized as outstanding contributors to the organization, whose individual
efforts have been instrumental in the continued success and growth of the
company.  We are pleased to announce the election of the following new
Managing Directors and Vice Presidents.  Please join us in congratulating
these individuals on their new appointments.

Managing Director ) Commercial

Phillip K. Allen, ENA (EWS) West Gas Trading - Houston
Franklin R. Bay, EBS Entertainment on Demand - Houston
Timothy N. Belden, ENA (EWS) ) West Power Trading - Portland
Michael R. Brown, EEL ) Executive - London
Christopher F. Calger, ENA (EWS) West Power Origination - Portland
Joseph M. Deffner, ENA (EWS) Treasury & Funding - Houston
Timothy J. Detmering, ENA (EWS) Corporate Development - Houston
William D. Duran, ENA (EWS) Generation Investments - Houston
Robert S. Gahn, EES Commodity Structuring - Houston
Kevin C. Garland, EBS Broadband Ventures - Houston
Ben F. Glisan, Jr., Corporate ) Global Equity Markets - Houston
Robert E. Hayes, ETS COMM Marketing - Houston
Phillip R. Milnthorp, ENA (EWS) Canada Origination & Trading - Calgary

Managing Director ) Commercial Support

Sally W. Beck, ENW (EWS) Energy Operations Management - Houston
Fernley Dyson, EEL Finance & Support Services - London

Vice President ) Commercial

Gregory Adams, EES MMC Management - Houston
Robert Bayley, EEL-UK Origination ) London
Jack D. Boatman, ETS Market Development ) Houston
Rhenn Cherry, EES Assets/Labor ) Houston
Niamh Clarke, EGM (EWS) Liquids Trading ) London
Peter Crilly, EEL-UK Origination ) London
Derek J. Davies, ENA (EWS) Canada Origination ) Calgary
Mark D. Davis, Jr., ENA (EWS) East Power Trading ) Houston
Charles Delacey, Corporate Finance ) Houston
Paul Devries, ENA (EWS) Canada Origination ) Toronto
Christopher H. Foster, ENA (EWS) West Power Trading ) Portland
Jeffrey F. Golden, EES Corporate Development ) Houston
Michael D. Grigsby, ENA West Gas Trading Group - Houston
Troy A. Henry, EES Bundled Sales-Heavy Industrial ) Houston
Rogers Herndon, ENA (EWS) East Power Trading ) Houston
James W. Lewis, EES Underwriting ) Houston
Christopher Mahoney, EGM (EWS) Liquids Trading ) London
Andrew Marsden, EBS Broadband Ventures ) London
John McClain, EBS Broadband Wholesale Origination ) Houston
Kevin J. McGowan, EGM (EWS) American Coal ) Houston
Albert E. McMichael, Jr., ENA (EWS) Gas Commodity Structuring ) Houston
Ermes I. Melinchon, Central America Origination ) Houston
Steven R. Meyers, EES Consumption ) Houston
Lloyd D. Miller, ENA (EWS) Portfolio Management ) Houston
Michael A. Miller, Wind Development / Execution-General Administration )
Houston
Marcello Romano, EBS EEL-Broadband Trading ) London
David A. Samuels, ENW (EWS) EnronOnline - Houston
Per A. Sekse, EGM (EWS) Global Risk Markets ) New York
Edward S. Smida, EBS Video on Demand ) Houston
Mark Tawney, EGM (EWS) Weather Trading ) Houston
Jon Thomsen, EBS Business Development ) Latin America/Canada ) Portland
Barry L. Tycholiz, ENA (EWS) West Gas Origination - Houston
Frank W. Vickers, ENA (EWS) East Gas Origination ) Houston
Amit Walia, Corporate, Corporate Development ) Houston
William White, EBS Global Bandwidth Risk Mgmt ) Houston
Jonathan Whitehead, EEL EA Trading ) Japan
Mark Whitt, ENA (EWS) West Gas Origination ) Denver
John A. Zufferli, ENA (EWS) Canada Power Trading - Calgary

Vice President ) Commercial Support

Beth Apollo, EEL Financial Operations Executive ) London
Marla Barnard, EBS Human Resources ) Houston
Karen L. Denne, Corporate, Public Relations ) Houston
Georganne M. Hodges, ENA (EWS) Trading, Origination & Power Plant Accounting
) Houston
Phillip Lord, EEL Transaction Support ) London
Peggy Mahoney, EES Marketing ) Communication ) Houston
Steven Montovano, Corporate, Government & Regulatory Affairs ) Dublin
Laura Scott, ENA (EWS) Canada Accounting ) Calgary
Richard C. Sherman, ENA (EWS) Transaction Support ) Houston
Gregory W. Stubblefield, EES Financial Planning & Reporting ) Houston
Dennis D. Vegas, CALME International Public Relations ) Houston

Vice President ) Specialized Technical

Sami Arap Sobrinho, ESA (EWS) Legal ) Houston
Merat Bagha, EBS Sales Engineering ) Houston
Justin Boyd, EEL Legal ) London
Mary Nell Browning, EBS Legal ) London
Jonathan Chapman, EEL Legal ) London
Robert D. Eickenroht, Corporate, Legal ) Houston
Mark Evans, EEL Legal ) London
David Forster, ENW (EWS) EnronOnline ) Houston
Janine Juggins, EEL Tax ) London
Peter C. Keohane, ENA (EWS) Canada Legal ) Calgary
Pinnamaneni V. Krishnarao, ENA (EWS) Research Group ) Houston
Travis C. McCullough, ENA (EWS) Finance Origination, Mergers/Acquisitions )
Houston
Michael Popkin, ESA (EWS) SA- Risk Management/Network Integration ) Houston
Elizabeth A. Sager, ENA (EWS) Physical Trading ) Houston
Richard B. Sanders, ENA (EWS) Litigation ) Houston
John W. Schwartzenburg, EECC Legal ) Houston
Michael D. Smith, EES Legal ) Houston
Marcus Vonbock Und Polach, EEL Legal ) London
Jay C. Webb, ENW (EWS) EnronOnline Systems ) Houston

Vice President ) Technical

Donald R. Hawkins, ETS Quality Management ) Houston
John R. Keller, ETS Engineering & Construction ) Houston


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Just curious - did you ever catch up with Larry Joe Hunter regarding the Long
Term Southwest desk's futures deal with Sempra? I'm wondering if I should
grab Matt Motley before he goes home today to let him know he needs to get a
hold of Tim Cannon about the ADT. Let me know when and if you talk to him.

Thanks,
Kate


the party was fun.  it was good to see a lot of people i haven't seen in a
long time.  i am just wiped out today.  i need a nap.


UTILICON AUSTRALIA 2001
_____________________________________________________

Is e-business your business?   If your company is involved e-business
strategies for the utility market contact us NOW!

Interested in building trust in e-utilities? - even better! Opportunities
exist to present to senior level delegates at this year's UTILICON Convention
on the topic of: Developing a sustainable e-business in utilities.  If you
are interested in coming on board as a sponsor contact
mailto:sally.deswart@terrapinn.com NOW!!

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

Friday 19 April 2001
Issue 29

The UTILICON e-newsletter

Welcome to this week's edition of the UTILICON e-newsletter, delivering the
week's breaking news to customers, suppliers and professionals in the utility
industry.

Are you listed in the 2001 UTILICON business directory?  As you are all aware
we have recently changed the format of the UTILICON Portal.  The old Power
directory is being expanded to include details of gas, water and telecom
industry participants and suppliers!

So, if you already had a listing, this is an ideal opportunity for you to
update all your contact details and company information to be included in the
new edition of UTILICON.com's searchable online business directory!

If your company has not previously been listed, THIS IS YOUR CHANCE to
increase your profile! UTILICON.com is the biggest regional portal for
utilities, utility suppliers and customers, so you cannot afford not to take
advantage of this great marketing opportunity!

All you need to do is email us for a directory listing sheet, simply complete
all the company information and email it back to us by the 30 June 2001. To
receive your directory listing information sheet contact us today!

For FREE Standard Listings: mailto:utilicon@terrapinn.com
For an Enhanced Listing: mailto:sally.deswart@terrapinn.com

Zoe Ayliffe, Editor Online Communications
------------------------------------------------------------------------------
----------------------
__________________________________________________________________

BREAKING NEWS:

SA GOVERNMENT LOOKS TO CUSHION PRICE HIKE
In new developments in the on-going row over contract electricity prices to
businesses in South Australia, the government has revealed it is looking at
providing some form of financial assistance in its May budget.
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3927&TCode=NW

ANOTHER NEW GAS FIELD IN OFFSHORE VICTORIA
Oil and gas major Santos Limited has announced its third new gas field
discovery in the Victorian section of the Otway Basin so far this year.
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3931&TCode=NW

ANOTHER $200 MILLION TIPPED FOR THE BUSH
There are widespread media reports today that the Federal Cabinet has decided
to spend a further $200 million on improving mobile phone services and
delivering faster Internet access to rural Australia.
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3932&TCode=NW

.
INDUSTRY NEWS

ENERGEX MOVES TO CAPTURE HOT WATER RECS
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3919&TCode=NW

DELTA TO REFURBISH 500MW UNIT
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3928&TCode=NW

ACCC CALLS FOR NATIONAL ACTION ON FRC
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3915&TCode=NW

OMBUDSMAN ISSUES WARNING OVER PRE-PAID MOBILES
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3917&TCode=NW

ACCC RELEASES QUALIFIED REPORT ON FIRST QLD GAS ACCESS REGIME
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3918&TCode=NW

MORE SUSTAINABLE ENERGY GRANTS
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3920&TCode=NW

ORIGIN SAYS IT IS NOW A KEY PLAYER
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3862&TCode=NW

AGL PRICING ROW CONTINUES
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3863&TCode=NW

NSW DOING BETTER
http://www.utilicon.com.au/Tmpl/article.asp?CID=11&AID=3864&TCode=NW

______________________________________________________________________________
_________

FOR YOUR DIARY:

TASMANIA POWER 2001
To find out just what lessons the Tasmanian sector can learn from the
California energy debacle and be given a full update of all the issues
affecting Tasmania's power industry, attend the 3rd Annual Tasmania Power
Conference (1-2 May).  You cannot afford to miss out on the great marketing
networking and marketing opportunities Tasmania Power 2001 offers. Contact
mailto:michael.turnley@terrapinn.com
http://www.utilicon.com.au/taspower2001aus/

QUEENSLAND POWER 2001
Don't let this marketing opportunity pass you by! Join key industry players
at the 5th Annual Queensland Power Conference, 21-23 May 2001 at Sheraton
Hotel and Towers.  Let the Utility Forum do all the work- advertising,
marketing, direct mail and on-line promotion.  Sponsor and Exhibit NOW(.join
our Luncheon Sponsor Mincom  and get noticed!!  Invest Today, contact Michael
Turnley Ph: +61 2 9210 5755 Fax: +61 2 9223 8216
mailto:michael.turnley@terrapinn.com

WESTERN AUSTRALIA POWER 2001
(28-29 June 2001) It's all happening in WA!!  While the gas industry awaits
the outcome of Shell's bid to become THE big state player, Government
attempts to juggle its commitment to popular projects with the wider need to
boost growth in the sector.  Green and renewable sources of energy, including
formative tidal and solar propositions, struggle for priority ratings
alongside the expansion of LPG and LNG processing.  The largest state
certainly does not do things by half! Contact
mailto:michael.turnley@terrapinn.com
http://www.utilicon.com.au/wapower2001aus/

CONFERENCE AND EXHIBITIONS

CABLING WORLD Australia 2001
Sydney Convention and Exhibition Centre, 4 - 6 June 2001 - the inaugural
conference and exhibition dedicated to Australia's booming network
communications and cabling infrastructure market. A highly focused three-day
programme covering all the major issues for cabling industry professionals
For more information contact - mailto:megan.mcgill@terrapinn.com
http://www.cabling-world.com/cabling_AUS2001

(((((((((((((((((((((((((((

Please forward any comments, queries or submissions to
mailto:zoe.ayliffe@terrapinn.com

We adhere to a "no spam" policy; if you wish to be deleted from this mailing
list, click here:  http://www.utilicon.com.au/Tmpl/register.asp?ID=5&CID=11

, 2000 Terrapinn Pty Ltd
((((((((((((((((((((((((


Hey Greg.  Hope this works.  My phone number is 713-853-4743.


Guz, just let me know what your plans are as time get closer and we will
have to meet up.  Tell BUrns to get his butt in gear and plan out a night on
the town.  Since I have only been home for a short while I am not totally
familiar with the city night life yet but I am sure Burns knows where to go.
  Polyesters I heard is a great place to rally at but I don't know what
nights are good there.  And I am going to have to work early in the morning
so I will not be part taking in the binge drinking that normally occurs.  I
am down to have a drink or two to be social and head out back home that
night. So just keep me posted!!!

lots of love, kim

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Dick:

After our conversation, I spoke with our settlements people again who
requested an EWEB invoice when Enron owes money to EWEB.  I propose that we
add a section to the Schedule entitled "Accounts" (Part 3(h)) as follows:

"Prior to each payment date for any Transaction, Party A (ENA) shall provide
Party B with an invoice reflecting the net payment owed by a party.
Notwithstanding the foregoing, Party B shall provide Party A with an invoice
prior to any payment date on which Party A owes a net payment to Party B.
With respect to all payments hereunder, and except as otherwise directed in
writing, the parties shall comply with the following payment instructions:

[bank, account no., ABA no.]"

Please provide me with EWEB's account data and let me know if you have any
comments.  I'll send the blackline immediately after I hear from you.

Also, I have not received EXECUTED CONFIRMATIONS.  Have these been sent to
anyone at Enron?  Sara

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


Eric , called me last night and I am happy to cover this and then if he doesn't attend we haven't wasted anytime , so let me know if you would like me to do this .
Thanks
Michael

 -----Original Message-----
From: 	Mcconnell, Mike
Sent:	17 October 2001 22:05
To:	Roth, Jim; Gonzales, Eric
Cc:	Sherriff, John; Frevert, Mark; Brown, Michael - COO London; Shankman, Jeffrey A.; Harris, Clay; Vicens, Emilio
Subject:	RE: Possible London Meeting with Venezuelan President

Jim,

I will make my self available for a meeting if it can really happen.  This is very difficult for me do pull off but I'll be there if he can meet.  I am very skeptical that he would have a meeting to tell us that our project is dead or let us vent our frustration of wasting several years and $15 million putting together this project.

I'll be traveling for the rest of the week, please leave me a voicemail with any updates.

Thanks,
m

 -----Original Message-----
From: 	Roth, Jim
Sent:	Wednesday, October 17, 2001 11:48 AM
To:	Gonzales, Eric
Cc:	Sherriff, John; Frevert, Mark; Mcconnell, Mike; Brown, Michael - COO London; Shankman, Jeffrey A.; Harris, Clay; Vicens, Emilio
Subject:	Possible London Meeting with Venezuelan President
Importance:	High

Eric:

Clay Harris and I met with the Venezuelan Ambassador this afternoon and reiterated our interest in arranging a meeting for Enron with President Chavez, who will visit the UK during 21-24 October.  The ambassador responded initially that Chavez's schedule had been "set for months" and that changing the schedule would be difficult.  After further discussion, he said Chavez would certainly be interested in discussing the project, and that they might be able to make time on the schedule at about 1100 hours on Tuesday 23 Oct.  We provided a brief overview of the status of the project, and he asked that we provide as soon as possible names and bio information for whoever would meet with Chavez if this comes off.  He promised to get back to us as quick as he can.  Please let us know who will be available from Houston for a possible Tuesday morning meeting here.  Thanks.

Jim


Any feedback from your group on dropping the nom?

Thanks,
Mike


Jay,

Did you send this out to wheelabrator? Let me know - Thanks!

K.

 -----Original Message-----
From: 	Williams, Jason R (Credit)
Sent:	Tuesday, July 10, 2001 9:49 AM
To:	Ward, Kim S (Houston)
Subject:	FW: New Master Physical with Wheelabrator Lassen

 -----Original Message-----
From: 	Dickson, Stacy E.
Sent:	Monday, July 09, 2001 3:53 PM
To:	Williams, Jason R (Credit)
Subject:	RE: New Master Physical with Wheelabrator Lassen

Jay,

Attached is the draft Wheelabrator Lassen agreement.  Please forward to the appropriate party.

Stacy

 << File: WheelabratorLassen.doc >>

 -----Original Message-----
From: 	Williams, Jason R (Credit)
Sent:	Friday, July 06, 2001 11:06 AM
To:	Perlingiere, Debra; Dickson, Stacy E.; Nemec, Gerald; Hodge, Jeffrey T.
Subject:	New Master Physical with Wheelabrator Lassen

All -

Attached is a worksheet for a new ENFOLIO with Wheelabrator Lassen.  This counterparty is looking to transact on a 5-year deal sometime next week, so we need to get this executed as soon as possible.

Please prepare a draft at your earliest possible convenience.  I will forward the email address of the contact as soon as possible.

Thanks,

Jay

 << File: Wheelabrator Lassen Master Physical 07062001.xls >>


The Approval status has changed on the following report:

Status last changed by:  Automated Administrator
Expense Report Name: emclaughlin42401
Report Total: $78.00
Amount Due Employee: $78.00
Amount Approved: $78.00
Amount Paid: $0.00
Approval Status: Pending
Payment Status: Pending

To review this expense report, click on the following link for Concur Expense.
http://xms.enron.com


Vince, thanks for returning my call. Here's Rabi's resume for your review. As
I mentioned, I worked with Rabi for a little over a year at Shell and was
very impressed with both his abilities and work ethic. If you would like any
further info from me, please do not hesitate to give me a call.

Thanks.

Bill

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

(For Human Resources)

---------------------- Forwarded by Bill Berkeland/Corp/Enron on 06/26/2000
11:08 AM ---------------------------

Rabi De <rabide@yahoo.com> on 06/25/2000 08:24:07 PM
To: Bill.Berkeland@enron.com
cc:

Subject: Resume

Dear Bill:

Thank you very much for volunteering to circulate my resume within Enron. As
you know, I am interested in exploring career opportunities in Financial
Engineering within Enron. I am particularly interested in joining the
research group headed by Dr. Vince Kaminski.

Enron continues to innovate its way through the energy and telecom
marketplace using its substantial intellectual capital. The enclosed resume
details my experience, academic background, and contributions in the area of
risk modeling and management. Understanding risk is a core competency of
Enron and I am excited about the possibility of working, learning, and
growing with the very best in the industry.

Please forward my resume within Enron as you see fit. Thank you in advance
for any referrals or recommendations you may be able to provide.

Best regards,

Rabi S. De

Do You Yahoo!?
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Craig,

Did you ever follow up with Kim Ward and the desk on the contract language
for the deal or deals you did with CA endusers?  We need to make certian that
the customers are signed to the correct contract for balancing, etc.  Please
get with me to discuss.

Mike Grigsby


Please print the attached on letterhead.

I'm leaving for Connecticut shortly, and will be back in the office on
Thursday (or so I exepct).  Please handle the following

Call David Runnels at A & K and tell him thanks, but I can't use the opera
tickets this weekend.

Cancel my RSVP for Carrin Patman's lunch tomorrow.

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 11/07/2000 09:46
AM ---------------------------

Kay Mann
11/03/2000 04:52 PM
To: jeff.ader@enron.com, heather.kroll@enron.com
cc:

Subject: FCEL consent to disclosure letter

As requested, I went the abbreviated route.

Kay


Just wanted to keep everyone on point in terms of the importance and
expectations of getting this King Ranch issue cleaned up for the prior months
and correct on a go forward basis.  I spoke with Brenda on Friday to give her
an update of our progress and one of the things that she stressed and wanted
passed on to the team was the expectations that King Ranch would be clean
(scheduled and allocated correctly)  for March and foward.  As of Thursday
night's   P &L calc., unaccounted for March 2000 on Texas was a little over
400,000 mmbtus.  As you all know, that number is way too high and should be a
lot lower (on a bad month, no more than 100,000 mmbuts).  Hopefully, if King
Ranch is the part of the problem for  March and we get these issues resolved,
March will not be an issue.  I appreciate everyone's committment so far and
hopefully we can apply this team concept in the future to prevent crisis
modes like this from here on out.  If anyone has questions or concerns,
please do not hesitate to let me know.  Thanks!

Howard B Camp
03/20/2000 08:46 AM
To: Karry Kendall/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Clem
Cernosek/HOU/ECT@ECT
cc: Stella L Morris/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT, Rita
Wynne/HOU/ECT@ECT, Fred Boas/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT
Subject: HPLR Liquids / Humble Gas Pipeline

We need to get together this afternoon at 2:00 PM in room 3745 to discuss how
we will schedule and allocate the HPLR Liquids coming into Humble Gas
Pipeline at meter 8793.  Karry, it is my understanding that you do not want
an intercompany sale from HPLR Liquids to HPLC at this point.   How do you
plan to get this gas to King Ranch since HPLR Liquids does not have a
transport on Humble?

Daren, the intercompany HPLC purchase  is how it is set up currently in MOPS.

Robert, since Stella is out, we will need someone to represent Logistics.

HC


Leslie handled the earlier Confidentiality Agreements, is she suppossed to be
handling these types of requests as well?  What is the game plan for Enron
Networks legal support?
----- Forwarded by Brent Hendry/NA/Enron on 10/10/2000 11:53 AM -----

	Peter_Feltman@enron.net
	10/10/2000 10:31 AM

		 To: Leslie_Hansen@ECT.enron.net, brent.hendry@enron.com
		 cc: Stephen_Abbanat@enron.net, Mathis_Conner@enron.net
		 Subject: Enron/Acta MOU

Attached for your review and comment please find a revised draft of the
Enron/Acta MOU.  Please note that we believe that this MOU (and any subsequent
MOUs or NDAs) should be between a respective party and Enron Networks LLC, and
to not include ENA and EOL as the process to have to explain the transaction
to
each of the aforementioned Enron groups would delay a transaction
significantly.

Please call me at X55306 if you need to discuss the MOU or the above comments
further.

Best regards,

Peter Feltman

(See attached file: Acta_MOU.doc)

 - Acta_MOU.doc


At the meeting yesterday, SoCalGas outlined their plan for implementing the unbundling of their backbone system including a proposed timeline which will be filed at the CPUC on Jan. 17, 2002.  Lad Lorenz state that the proposal is "not cast in concrete" and invited comments at the meeting as well as in response to the filing.  However as you might expect, when some customers expressed their concern with the timeline being too short, SoCal made no offer to push some of the dates out into the future and stuck with their proposal.  All of the proposed dates are their best estimate for timing as variables such as the system requirements may cause delays and rescheduling of some portions of the implementation plan.  Key items and dates are as follows:

Jan. 17		SoCalGas files its proposed Implementation Plan and timeline.

Feb. 14		Meeting with CPUC Energy Staff and Interested Parties.  Tariff Workshop.

Feb. 22		SoCalGas files tariffs including a definition of Annual Average Usage for existing end-use customers.
		This definition is important as it determines their capacity rights in the Open Season.

Mar. 15		50 mmcf/d of capacity at North Needles to be placed into service.

May 6		Distribution of informational packages on Backbone Receipt Point Rights to customers.

May 29		Begin Phase I of the Open Season.

June 5		Phase I Open Season ends.  See Slides 55 through 57 for all other Open Season dates.

June 22		SoCal will post awarded receipt point capacity.

July 1		Implementation of unbundling the backbone receipt point services.

Slide 13		Indicates North Needles has 800 mmcf/d of capacity
		This was described as "primarily Transwestern"

Slide 15		The Core backbone receipt point capacity at Needles is set at 313 mmcf/d.

I'm faxing an entire copy of the presentation to Marketing and Regulatory Affairs for distribution and review.  Slides 11-21 describe the Backbone Receipt Services and Slides 50-63 provide the proposed timeline for implementation.  Please give me a call if you have any questions about SoCal's proposal.  gh


In follow up to my voice mail, just add new language as the first sentence of
Section 4.

Leslie
----- Forwarded by Leslie Hansen/HOU/ECT on 12/12/2000 01:04 PM -----

	Bob Shults
	12/12/2000 10:14 AM

		 To: Tana Jones/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT
		 cc:
		 Subject: Re: NDA

Would you please add the language below and email the NDA to David.  Thanks
---------------------- Forwarded by Bob Shults/HOU/ECT on 12/12/2000 10:12 AM
---------------------------

David Hufton <dhufton@pvm.co.uk> on 12/12/2000 03:43:59 AM
To: Bob.Shults@enron.com
cc:
Subject: Re: NDA

Happy with that . Perhaps you could e-mail me the ammended document . How
do you want to hadle the signing pocedures ?
At 09:19 11/12/00 -0600, you wrote:
>
>We are happy to include the following provision in our NDA to make clear
>that you are under no obligation to provide us with confidential
>information:
>
>"Whether to disclose particular information remains the sole discretion of
>the disclosing party and nothing hereunder obligates a party in any way to
>disclose any information."

**********************************************************************
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 system manager. Unless stated to the contrary, any opinions
in this message are personal and may not be attributed to
PVM Oil Associates, Ltd.
**********************************************************************


Shelley, I can take a stab at pulling together TW-related information today
and will run it by Jeff to see whether he has anything to add.  I am leaving
on vacation Saturday and have a lot of other work to finish up here before I
go.  Therefore it might be best to bring in someone else from
legal/regulatory to pull up the info for El Paso, Kern, etc.

Shelley Corman
12/06/2000 10:28 PM
To: Jeffery Fawcett/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON
cc:

Subject: Calif. Performance Issues

With concerns about curtailments and force majuere events in California,
Steve Kean has asked for the preparation of study of all possible types of
disruptions (e.g. curtailment, diversion, penalties, etc,) in the gas chain
flowing to Calif and who bears the legal/financial liability for each event.
Specifically, he has asked if ETS can assemble a description of such
provisions for the pipes delivering to Calif.

In particular, he wants a summary of following:

Curtailment - When do pipelines curtail?
Curtailment compensation
Imbalance Provisions
Penalties/OFOs
Allocations (For El Paso Only)

Help!  Do you guys have any materials explaining these provisions?  Steve
wants this all pulled together by Friday.


Location for Pre-Bid is 30C1.

D


Jeff,  I am a cofounder of Inknowvator Inc.  I live in Houston, actually
Gene Humphrey is my next door neighbor.

Our new Idea Manager solution was recently selected by  Xcelerator to
identify, develop and select new ventures.  This was put on hold following
the recent management change.  Oddly enough, the Knowledge Management
group, then housed in EES, also thought  we were the "best thing since
sliced bread" and wanted to bring us in as an Enron corporate offering.  As
you know, that group was disbanded.

I was interested in your participation in the Revolutionaries Ball.   We
are in discussions with Gary Hamel's company, Strategos.  It turned out
that we have very similar clients and our software solution can be a
natural enabler for Strategos's approach to innovation (Halliburton is our
latest corporate innovation client).  Also, we can  target our solution at
venture management (Xcelerator), M&A (Chevron-Texaco) and new service
development (Schlumberger).

I believe that we are an ideal solution for Enron to identify and develop
new business ventures, to enhance current products and services,  and to
share ideas and learnings across the company.  I would like to meet with
you to discuss our solution

I look forward to hearing from you.

Regards,

Ron
281-773-8529


I'm sure you guys have this, but I've been on vacation and wanted to make
sure you all got it.

Beverly

---------------------- Forwarded by Beverly Beaty/HOU/ECT on 12/28/2000 07:09
AM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Victor Haley" <Victor.Haley@dvn.com>
12/19/2000 05:19 PM

To: <beverly.beaty@enron.com>
cc:
Subject: January, 2001 Devon availabilities . Please call me at 405-228-4298
if you have any questions

January, 2001  Devon availabilities .   Please call me at 405-228-4298 if you
have any questions

 - EnronAvails0101.xls


The 2000 Form W-2 will be mailed to your address of record by January 31,
2001. If you have not received your form by February 20th, you may request,
in writing, for a duplicate copy to be sent to you. Please note that a
written request, including authorized signature is required.

When requesting a duplicate form, please specify the year for which you need
a copy, sign your request, and include the following information:

 Name
 Complete Mailing Address
 Phone Number
 Social Security Number

You may mail your request to:
 ENRON CORP
 EB 1528
 P O BOX 1188
 HOUSTON TX   77002

Or you may fax your request to 713-646-3755.

Your request will be processed within one week of receipt.

If you have a question regarding the information on your Form W2, please
contact the Payroll Call Center at 713-345-5555 option 1.

Thank you


Steve, what is the status?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/22/2000
03:05 PM ---------------------------
From: Stephen H Douglas on 11/13/2000 08:30 PM
To: David W Delainey/HOU/ECT@ECT
cc: Robert Hermann/Corp/Enron@ENRON, Wes Colwell/HOU/ECT@ECT
Subject: Re: 2001 Plan

I spoke with Bob Hermann this afternoon and, in short, the single biggest
contributor to the increase in the corporate tax allocation relates to the
expansion of state and local tax support being provided to our new "business
verticals" - that is, Enron Global Markets, Enron Industrial Markets and
Enron Net Works - which expense should be specifically allocated to such
groups rather than ENA, as is currently the case.  I will follow up with you
regarding the revised number after I have resolved the allocation issue.
Best regards.  Steve.

David W Delainey
11/10/2000 12:53 PM
To: Robert Hermann/Corp/Enron@ENRON, Stephen H Douglas/HOU/ECT@ECT
cc: Wes Colwell/HOU/ECT@ECT
Subject: 2001 Plan

Guys, I noticed that the corporate tax allocation to ENA has more than
doubled from 2000 forecast to 2001 plan ie) $1,600,000 from $700,000.  Could
you please explain.  Our goal which is being met in ENA's direct expense
groups is to remain flat year or year from 2000 to 2001.

Regards
Delainey


No, as I vaguely recall,  Mr. Powell was ok w/ the increase to $50mm. on
their part.   However,   I would want to discuss it w/ him again.

Debra Perlingiere
Enron North America Corp.
1400 Smith Street, EB 3885
Houston, Texas 77002
dperlin@enron.com
Phone 713-853-7658
Fax  713-646-3490


Have Nevada Power or Sierra Resources a presence in Canada? Unclear as to why
they are seeking to trade physical power in Canada, having regard to their
service area of Nevada. Otherwise Ditto Credit.

	Tana Jones@ECT
	04/24/2001 05:27 PM

		 To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Marcus
Nettelton/NA/Enron@ENRON, Harry M Collins/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications, John Viverito/Corp/Enron@Enron, Jane McBride/AP/Enron@Enron,
Andrea Calo/SA/Enron@Enron, Peter Keohane/CAL/ECT@ECT
		 cc:
		 Subject: EOL approvals, 04-24-01

----- Forwarded by Tana Jones/HOU/ECT on 04/24/2001 05:27 PM -----

	Walter Guidroz/ENRON@enronXgate
	04/24/2001 05:25 PM

		 To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global CounterParty/LON/ECT@ECT, Stephanie Sever/ENRON@enronXgate, Tom
Moran/ENRON@enronXgate, Claudia Clark/ENRON@enronXgate, William S
Bradford/ENRON@enronXgate, Lisa Lees/ENRON@enronXgate, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen ODay/ENRON@enronXgate, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ECT, Bill D Hare/HOU/ECT@ect, Amy
Heffernan/Enron Communications@Enron Communications, Molly LaFuze/Enron
Communications@Enron Communications, Danny Clark/Enron Communications@Enron
Communications, Stephanie Panus/NA/Enron@Enron, Teresa
Mandola/ENRON@enronXgate, Bill Kyle/ENRON@enronXgate, Amber Ebow/HOU/ECT@ECT
		 cc:
		 Subject: EOL approvals, 04-24-01

Please see attached.


I think this looks good and is more than sufficient. Thanks.

To: Richard Shapiro/HOU/EES@EES
cc:
Subject: Stanlet Statement

Attached is a version of the Stanley statement which I have revised following
our discussion with Glenn Leslie.  As I looked at it, I didn't think that any
changes to the text were  required and that what was needed was an
introductory note explaining the purpose and intended use of the statement.
Let me know what you think and if you think any further changes are needed.
Thanks, Aleck
---------------------- Forwarded by Aleck Dadson/TOR/ECT on 08/10/2000 11:47
AM ---------------------------

Lisa Ramsay
08/10/2000 12:41 PM
To: Aleck Dadson/TOR/ECT@ECT
cc:
Subject:

I hope this one is okay.

Lisa.


That was funny...in fact it was the funniest thing I've heard all morning.

I'd rather go to lunch.
Thanks anyway though.

Becky Pitre
02/06/2001 10:51 AM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Wanna

At 11:15 wanna go to a 15 minute ab class and then go for a three mile run?
No, I'm not trying to kill you.  B


Dear Mark:

As I discussed with Dan Rogers this afternoon, King & Spalding would like to
invite you to attend the Houston World Affairs Council luncheon tomorrow
where our partner, Former Senator Sam Nunn will be speaking.

I just learned that Jim Derrick will not be able to attend the luncheon.  It
would be our pleasure if the two of you could attend in his place.

I enclose below additional information about the place, time and content of
the luncheon. Hope to see you there.

Regards,

Philip Weems
King & Spalding
713-276-7373

The Houston World Affairs Council will welcome
Sam Nunn <http://www.kslaw.com/attorney_dir/attorneybrief.asp?461>
Former United States Senator
The Nuclear Threat Initiative
The Westin Galleria Hotel
5060 West Alabama The Monarch Room
12:00-1:30 PM
Lecture, PowerPoint Presentation, Luncheon, and Q&A.

Former Senator Nunn has been asked to lead the Nuclear Threat Initiative
(NTI), established recently by Ted Turner, as the co-chairman and chief
executive officer. The mission of the NTI is reducing the global threat of
nuclear and other weapons on mass destruction.

Among Former Senator Nunn's many legislative achievements is the Cooperative
Threat Reduction Program, also known as the Nunn-Lugar program, which
provides incentives for the former Soviet republics to dismantle and safely
handle their nuclear arsenals. Senators Nunn and Lugar were nominated for
the 2000 Nobel Peace Prize for their work conceiving, legislating and
sustaining this important program.

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.


----- Forwarded by Lance Schuler-Legal/HOU/ECT on 08/02/2000 06:50 PM -----

	"Dilg, Joe" <jdilg@velaw.com>
	08/02/2000 06:37 PM

		 To: "'mklepper@skadden.com'" <mklepper@skadden.com>,
"'jtindell@skadden.com'" <jtindell@skadden.com>, "'lbrasher@skadden.com'"
<lbrasher@skadden.com>
		 cc: "Schuler, Lance (Enron)" <lance.schuler-Legal@enron.com>, "Joor, William
E., III" <wjoor@velaw.com>, "Shouse, August" <AShouse@velaw.com>, "Barber,
Shelley" <SBarber@velaw.com>, "Martin, J. Clark" <cmartin@velaw.com>
		 Subject: Name License Agreement

 <<287956_1.doc>> Marty, attached is another version of the license
agreement marked to indicate a few additional changes suggested by our
client. Joe Dilg

 - 287956_1.doc


Rice/Enron Finance Seminar Series Participants:

We are getting ready to kick off the 2000/2001 Enron Finance Seminar Series
at Rice University.

You can find the current schedule at http://www.ruf.rice.edu/~jgsfss/ .
Note that this is a new web address.

For your convenience, here are the dates and speakers lined up so far:

Sept 22    Jeff Pontiff, U. of Washington
Sept 29    Len Mirman, U. of Virginia
Oct    6    Charles Lee, Cornell
Oct   13   George Allayannis, Darden
Oct   20   William Goetzmann, Yale
Nov   17   Yacine Ait-Sahalia, Princeton (joint seminar with Rice Economics)

Mar    9    Paul Schultz, Notre Dame
Apr   27    Luigi Zingales, U. of Chicago

Lined up for the spring but date not yet scheduled:

Tim Bollerslev, Duke University
Matthew Richardson, New York University

As changes are made to the schedule, I will notify the distribution list.

In addition, as we have done in the past, we will post the abstract and a
downloadable version of the paper (if available) to the website a week or
two before the seminar.  The website will also provide a link to the
speaker's homepage so you can access his or her biographical
information.  If the paper is not available at the website, I will send a
hardcopy to interested Jones School faculty, to Felecia Jones (Economics),
Latha Ramchand (University of Houston), and Vince Kaminski (Enron).

I will e-mail an announcement before each seminar, reminding you of the
seminar date, time, and location.  The distribution list will include
everyone that receives this e-mail.  Please contact me at ostdiek@rice.edu
if you would like to be deleted from the mailing list or if you know of
someone who should be added (new PhD students, new faculty, etc.).

bbo

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

Barbara Ostdiek
Assistant Professor of Finance
Jones Graduate School of Management
Rice University
6100 Main Street - MS 531
Houston, TX 77005-1892

713-348-5384 (voice)
713-348-5251 (fax)
ostdiek@rice.edu
www.ruf.rice.edu/~ostdiek/


The report named: West VaR <http://trv.corp.enron.com/linkFromExcel.asp?report_cd=36&report_name=West+VaR&category_cd=2&category_name=WEST&toc_hide=1&sTV1=2&TV1Exp=Y&current_efct_date=11/13/2001>, published as of 11/13/2001 is now available for viewing on the website.


lisa found this to pump us up
---------------------- Forwarded by Matthew Lenhart/HOU/ECT on 02/13/2001
10:39 AM ---------------------------
To: Matthew Lenhart/HOU/ECT@ECT
cc:

Subject: Def Leppard

Please forward to mitch and all others attending the Rodeo's concert of the
year.
---------------------- Forwarded by Lisa Gillette/HOU/ECT on 02/12/2001 05:54
PM ---------------------------

From:  Bryan Hull
02/12/2001 05:46 PM

To: Lisa Gillette/HOU/ECT@ECT
cc:

Subject: Def Leppard

Gotta love these guys....


Hello Norma:

In answer to your phone message I am sending you the following information.

There is one thing you probably need to be aware of.  On the Research
list, Elena Chilkina is shown as an Analyst P/T, however, in the records she
is shown as an "Adm Coord".  This was done so that she could be considered
non-exempt and receive overtime.  However, her actual job is an analyst.

Also, Roman Zadarozhny is an analyst that rotated out of our group 6 months
ago, but was never moved to the new group.  He is now up for rotation again
and Vince said that we will just keep him until he finds a new rotation.

If you have any questions, please call me.


Jacques,

Still trying to close the loop on the $15,000 of extensions.  Assuming that
it is worked out today or tomorrow, I would like to get whatever documents
need to be
completed to convey the partnership done.  I need to work with the engineer
and architect to get things moving.  I am planning on  writing a personal
check to the engineer while I am setting up new accounts.  Let me know if
there is a reason I should not do this.

Thanks for all your help so far.  Between your connections and expertise in
structuring the loan, you saved us from getting into a bad deal.

Phillip


All:

I just wanted to thank everyone for their great effort on the Pepperell
deal.  I know it was a bit frustrating at times, but in the end I think we
will derive a lot of value out of this deal and benefit from the learning
experience of managing generation in NEPOOL.   Kevin Presto and Dana Davis
made it clear that this position will be a nice strategic addition to our
NEPOOL book.

On to the next one!

Regards
John


Attached for your review is the draft Answer to the PX's Answer to the Joint
Complaint.  The conference call has been scheduled on Monday, March 12th,
from 3-5 P.M., Eastern time.

The 800 number for everyone for the conference call is:

1-800-447-1794

The dial-in code is 198428.

 - complaint.doc
 - #139271 v1 - COMPLAINT -NEW.wpd


Shirley,

No problem.

Vince

Shirley Crenshaw
09/29/2000 02:13 PM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Vacation

Vince:

I would like to take a day of vacation next Friday, October 6th if it ok.
Anita will be here.

Thanks!

Shirley


Yes, take it. Thanks for your help.

	Britt Davis@ENRON
	09/20/2000 05:05 PM

		 To: Richard B Sanders/HOU/ECT@ECT, Linda R Guinn/HOU/ECT@ECT
		 cc: Marcus Nettelton/NA/Enron@ENRON, Becky Zikes/Corp/Enron@ENRON
		 Subject: In re ICTS[MG Metals]

Richard,

Marcus told me that wanted to refer to you and me the above-referenced new MG
Metals matter.  Briefly, ICTS of Athens, Alabama, one of MG Metals' shipping
agents, has reportedly gone into bankruptcy, without paying about $80,000
owed to various motor carriers (truckers) for transportation here in the U.S
of MG Metal's aluminum.  No one has yet confirmed that ICTS has in fact gone
into bankruptcy.

MG Metals' offices in Canada and New York have begun receiving truckers'
demand letters for these freight charges, some of which are from attorneys
threatening suit.  These letters state that as consignee of the various
cargoes, MG Metals is primarily liable for payment of the freight charges.  I
think that this is generally correct as a matter of U.S. law, given the usual
motor carrier bills of lading, although I am having this double-checked.

Since we have already paid most (but not all) of the money we owed to ICTS,
MG Metals is looking at a double-payment exposure.  Also, even to the extent
that ICTS has not been paid, it is entirely possible that ICTS overextended
itself with a particular trucker and failed to charge MG Metals for enough to
cover both ICTS's commission and the trucker's freight charges; in other
words, a trucker may be looking for MG Metals to pay it more in freight than
MG Metals originally agreed to pay ICTS (which amount should have covered
both freight and commission).

I believe that the largest single amount claimed by a trucker is $15,000.
Bob Klide of MG's New York office and Nicole Dion of MG's Canada office (no
relationship to Celine--I asked) will be shortly sending me their files.

To complicate things a bit more, many of the letters Nicole has received deal
with shipments made in March, at a time when Nicole and her office were
employees of a trading division of Barclay's.  Some time afterward, they were
acquired by MG Metals.  As a result of this, Barclay's may (depending on the
agreement between Barclay's and MG Metals) be on the hook for some of this
liability.  Nicole advises she has place a Barclay's representative on notice.

I would be happy to take this one off your plate if you would like.
Obviously, it is a small dollar case and we don't want to pay any money to
anyone unless we absolutely have to.  Let me know.

Britt


The meeting today has been rescheduled to 11:00 am in Room : ECS 06980.

Kind regards,

Karen.

 -----Original Message-----
From: Buckley, Karen
Sent: Monday, January 21, 2002 6:05 PM
Subject: Meeting - Tuesday 10 am

A 10:00 am meeting has be tentatively scheduled for you Tuesday, location to be confirmed, to discuss the Analyst & Associate Program as it relates to UBS.

Kind regards,

Karen Buckley

Human Resources

Tel: 713 345 4667


Aimee,
Sitara Deal 92943 for meter 1431 has expired on Oct 31, 1999 .  Settlements
is unable to draft an invoice for this deal.  This deal either needs to be
extended or a new deal needs to be set up.  Please let me know when this is
resolved.  We need it resolved by Friday, Dec 17.
HC


---------------------- Forwarded by Darron C Giron/HOU/ECT on 03/27/2001
11:34 AM ---------------------------

	From:  Julie Brewer @ ENRON                           03/27/2001 10:11 AM

To: Darron C Giron/HOU/ECT@ECT
cc: Larry Joe Hunter/HOU/ECT@ECT, Janie Aguayo/HOU/ECT@ECT, Diane
Anderson/NA/Enron@Enron, Bianca Ornelas/NA/Enron@Enron, Richard
Deming/NA/Enron@Enron, Ellen Wallumrod/NA/Enron@ENRON
Subject: Rebooks

Can you please have this deal rebooked as indicated by credit.

Thanks. Julie


Jay, this one is from one of our London lawyers to me and a Canadian lawyer.
----- Forwarded by Tana Jones/HOU/ECT on 11/16/2000 09:22 AM -----

	Jon Chapman
	11/16/2000 03:16 AM

		 To: Peter Keohane/CAL/ECT@ECT, Tana Jones/HOU/ECT@ECT
		 cc:
		 Subject: Positively the last word .....

Peter ,

You'll enjoy this more than Tana !!!

Jon
---------------------- Forwarded by Jon Chapman/LON/ECT on 16/11/2000 09:16
---------------------------

Annette Patrick
16/11/2000 08:37
To: Jon Chapman/LON/ECT@ECT, Michael Slade/LON/ECT@ECT, Tracy Foy/LON/ECT@ECT
cc:

Subject: FW: Notice of Revocation of Independence

---------------------- Forwarded by Annette Patrick/LON/ECT on 16/11/2000
08:41 ---------------------------

Sarah Gregory
15/11/2000 19:24
To: svickers@linklaters.com, Annette Patrick/LON/ECT@ECT, Christopher
Wood/Legal/LON/ECT@ECT
cc:

Subject: FW: Notice of Revocation of Independence

NOTICE OF REVOCATION OF INDEPENDENCE

To the citizens of the United States of America,

In the light of your failure to elect a President of the USA and thus to
govern yourselves, we hereby give notice of the revocation of your
independence,effective today.

Her Sovereign Majesty Queen Elizabeth II will resume monarchial duties over
all states, commonwealths and other territories.  Except Utah, which she does
not fancy.  Your new prime minister (The rt. hon. Tony Blair, MP for the
97.85% of you who have until now been unaware that there is a world outside
your borders) will appoint a minister for America without the need for
further elections.Congress and the Senate will be disbanded.  A questionnaire
will be circulated next year to determine whether any of you noticed.

To aid in the transition to a British Crown Dependency, the following rules
are introduced with immediate effect:

1. You should look up "revocation" in the Oxford English Dictionary. Then
look up "aluminium".  Check the pronunciation guide.  You will be amazed at
just how wrongly you have been pronouncing it. Generally, you should raise
your vocabulary to acceptable levels. Look up "vocabulary".  Using the same
twenty seven words interspersed with filler noises such as "like" and "you
know" is an unacceptable and inefficient form of communication.  Look up
"interspersed".

2. There is no such thing as "US English".  We will let Microsoft know on
your behalf.

3. You should learn to distinguish the English and Australian accents.  It
really isn't that hard.

4. Hollywood will be required occasionally to cast English actors as the good
guys.

5. You should relearn your original national anthem, "God Save The Queen",but
only after fully carrying out task 1.  We would not want you to get confused
and give up half way through.

6. You should stop playing American "football".  There is only one kind of
football.  What you refer to as American "football" is not a very good game.
The 2.15% of you who are aware that there is a world outside your borders may
have noticed that no one else plays "American" football.  You will no longer
be allowed to play it, and should
instead play proper football. Initially, it would be best if you played with
the girls.  It is a difficult game.  Those of you brave enough will, in time,
be allowed to play rugby (which is similar to American "football", but does
not involve stopping for a rest every twenty seconds or wearing full kevlar
body armour like nancies).We are hoping to get together at least a US rugby
sevens side by 2005.

7. You should declare war on Quebec and France, using nuclear weapons if they
give you any merde.  The 98.85% of you who were not aware that there is a
world outside your borders should count yourselves lucky.  The Russians have
never been the bad guys."Merde" is French for "sh*t".

8. July 4th is no longer a public holiday.  November 8th will be a new
national holiday, but only in England.  It will be called "Indecisive Day".

9. All American cars are hereby banned.  They are crap and it is for your own
good.  When we show you German cars,  you will understand what we mean.

10. Please tell us who killed JFK.  It's been driving us crazy.

Thank you for your cooperation.


Thank you so much.  Really sorry to bother you so much.

	Michelle Hargrave@ECT
	12/04/2000 04:19 PM

		 To: Jeff Dasovich/Na/Enron@ENRON
		 cc: Mary Lessor/HR/Corp/Enron@ENRON
		 Subject: Re: Vacation, Sweet Vacation

Hello My Favorite Problem Child!! (Just kidding!)

You truly only have 27 hrs remaining.  What is confusing is the "entitlement"
piece.  What that means that as of 7/1/00 you had 75 hrs remaining when we
moved to SAP.  You begain the year with 126 hrs, took 51 hrs prior to 7/1/00
leaving you 75 hrs.  After 7/1/00 you took 48 hrs leaving you with 27 hrs as
your balance.  Hope this helps!

Mary - can you help Jeff with his deferral enrollment?  He apparently does
not have that piece on his eHRonline.  He is way out in San Francisco and a
really nice guy - can you help him please???

Regards,
Michelle

From: Jeff Dasovich@ENRON on 12/04/2000 12:51 PM
Sent by: Jeff Dasovich@ENRON
To: Michelle Hargrave/HOU/ECT@ECT
cc:
Subject: Vacation, Sweet Vacation

Hi Michelle:

Guess who?  Just went into Ehronline and noticed that under vacation it sez
that I'm entitled to 75 hours of vacation, and that I've used 48 hours,
leaving 27.  I think that I'm actually entitled to more than 75 hours.
Please tell me that I am.  Thanks very much.

Signed,
Desperately in need of vacation

Also, I clicked on deferral enrollment, and by-golly if I couldn't find the
election form to download.  Am I just clueless, or is there another place
that I need to look for it?  Thanks a million.


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ON THE GRID OR OFF THE GRID
Bigger Is Better
An interstate electricity highway could leverage economies of scale to keep
the lights on Burton A. Weisbrod, Glen E. Weisbrod
Sunday,?February 25, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/02/25/S
C177059.DTL
WE COULD HAVE left it to the states. When the Interstate Highway System was
proposed nearly 50 years ago, we could have said, "Leave it to each state to
decide on its roads and to pay for them, or leave it to private enterprise to
build toll roads wherever it is profitable." Fortunately, we didn't.
Today, vehicles can travel throughout the country on a system of integrated
high-capacity roads that crisscross the nation. There are many differences
between the flow of cars or trucks and the flow of electricity. But just as
the Interstate Highway System ushered in a new era of easier movement of
people and goods across the states, allowing enormous economic and social
gains, so, too, do we now need to overcome the obstacles to the easy flow of
power across state lines.
Many forces are at work contributing to California's electricity crises, and
power shortages in other parts of the country also are quite possible. The
growth of population and industry in California has expanded demand for
electricity. Legislative constraints, reflecting environmental protection and
other concerns, have discouraged construction of electricity-generating
plants.
Periodic shutdowns of generation plants for maintenance have caused short-
term power shortages. And, in an oddity of California law, the prices that
power producers can charge distributors are deregulated, while the prices
that those distributors can charge consumers are regulated and restricted.
But largely missing from the debate of what can be done to balance supply and
demand is discussion of an effective national power grid that would permit
substantial amounts of electricity to flow, as highway traffic does, from one
state to another.
Interstate transmission connections do exist now, but are limited in
capacity. They were primarily designed to meet temporary needs associated
with local power emergencies, not for sustained use. If those interstate
lines were upgraded to greater capacity, then we could move toward actually
creating a national power grid.
An effective national power grid could result in far more competition among
producers of electric power across the nation, and far more options to meet
demand in any local area. No state or region would need to depend simply on a
small number of generating producers within its borders, and the increased
number of interstate competitors would bring greater assurance of supply and
lower prices.
The underlying problem is basically one of incentives. With the maze of
state, and federal regulations on the production, distribution and pricing of
electricity, there is great risk and little incentive for private
construction of costly transmission lines that cross multiple state borders.
Imagine a power plant in state A, but near state B, with that plant
occasionally having excess production capacity. There is no market for the
power in state B, but there is demand for it in state C, which is adjacent to
it. In a smoothly functioning, efficient, power transmission system, power
would move from the generating plant in state A, across the border for use in
state B, thereby permitting deals so that power produced in that area could
be sent to state C. Through such a domino-like process, power available in
one region effectively can help alleviate a shortage in another area - with
only a series of relatively short-distance transmissions.
Development of such an integrated electricity transmission network is what
the federal government can and should foster. It would strengthen the nation;
it would expand options for users; it would increase competition among
suppliers, to the benefit of consumers; it would overcome the multiplicity of
state regulations that have the effect of restricting incentives for
profitable interstate power transmission.
The Interstate Highway System did not solve all the problems of the nation's
escalating population of cars, and it was not cheap. But, designed to
maximize interconnections between metropolitan areas, with ample systemwide
capacity to spare, it did transform the country, binding the 48 contiguous
states into an integrated whole.
The effect: reduced costs and increased "exports" of California fruits and
vegetables to the Midwest, and reduced costs, along with increased exports of
Midwest manufactured products to the West.
Just as it does not make sense for every state to act like a separate
country, building roads just for its own residents, or growing all of its own
food supply, it is equally inefficient for each state to independently
develop its own power supply. It is foolish to find electricity producers in
one state claiming that they should not "help out" consumers in another
state.
A nationwide system would take better advantage of differential electricity
demand in various parts of the country, seasonally and even in the course of
a day.
To consumers and industrial users in California, the effects of a national
electricity transmission grid would be real and enduring, but not
spectacular. It would, however, go far to achieving the quiet result that
every consumer seeks - lower prices, more reliable electric power supplies.
There is no single solution to California's energy crisis, but developing a
national interstate electricity highway system would go far toward addressing
it. Local power distribution within a state would remain a matter of state
control. The federal government's role would be largely to provide financial
incentives for constructing additional interstate transmission capacity, and
to establish standards for its design and utilization - just as is the case
with the Interstate Highway System.
A survey of history and government professors conducted by the Brookings
Institution last year identified the Interstate Highway System as one of the
Top Seven governmental achievements of the last 50 years - along with
rebuilding Europe after World War II and expanding the right to vote. An
interstate electricity highway system could well be among the top
achievements of government in the next half-century.
MACRO POWER TRANSMISSION
WE HAVE AN ELECTRIC power crisis in California. In fact, we have two
problems: a short-term problem and a long-term problem.
Short term, the problem, from the consumer perspective, is:
-- Soaring electricity bills.
-- Fear of paying the mounting debts being incurred by electricity
distributors such as Pacific Gas and Electric Co. either in rate increases or
higher taxes.
-- The threat, and to some users the reality, of no lights, no refrigeration,
no heat.
These concerns are real and severe. But they are merely symptoms of a serious
long-term crisis: Incentives to the power industry are wrong!
As Adam Smith reminded us over two centuries ago, we do not look to the good
intentions of sellers to get them to serve the public interest; we look to
their self interest. Then, as today, wise public policy calls for aligning
the two, by providing incentives for the development of an electricity system
that provides power that is dependable, is produced efficiently and is
distributed competitively, so that prices are low.
This long-term problem will not be solved by the series of Band-Aids that
governmental officials and power producers and distributors are skirmishing
over. Now is the time to develop a long-term plan.
Two elements of a long-term plan for efficient and reliable electricity are
clear:
-- Electricity self-sufficiency for each state is bad policy. It is easy to
think that dependency on power imports from other states is a root problem.
It is not. Trade and competition mean access to more producers, and that can
bring efficiency in electricity no less than in food, electronics or autos,
as low-cost sources are utilized. (Promoting more interstate options does not
preclude building more local generation, and small, "micro" electricity
generating units do have a role as part of an overall electricity policy.
However, the advantage of their flexibility must be balanced against their
generally higher cost for meeting predictable long-term demand.)
-- Incentives are needed to encourage investment in electricity transmission.
It does no good to have low-cost power production unless the power can reach
users. This is why the federal government has such an important role to play
in financially encouraging and supporting a national interstate power highway
system.
--Burton A. Weisbrod and Glen E. Weisbrod
Burton Weisbrod is John Evans Professor of Economics and Fellow, Institute
for Policy Research, Northwestern University, and a former senior staff
economist on the Council of Economic Advisers to Presidents Kennedy and
Johnson. Glen Weisbrod, his son, is president of Economic Development
Research Group Inc. in Boston.
Burton Weisbrod is John Evans Professor of Economics and Fellow, Institute
for Policy Research, Northwestern University, and a former senior staff
economist on the Council of Economic Advisers to Presidents Kennedy and
Johnson. Glen Weisbrod, his son, is
,2001 San Francisco Chronicle ? Page?WB1

Governor Calls for 10% Cut In Usage
On national TV, Davis increases goal on energy
Tanya Schevitz, Chronicle Staff Writer
Monday,?February 26, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/02/26/M
N44189.DTL
Signaling a greater urgency in California's power crisis, Gov. Gray Davis
said yesterday that keeping the lights and air conditioners running this
summer will require every Californian to reduce electricity usage by about 10
percent.
In addition, he said, the state must get more electrical power online by
then.
His call for a 10 percent cut is a significant jump from the 7 percent he was
asking for during his State of the State speech last month, and it may be a
difficult stretch for consumers. Davis made his remarks on NBC's news show
"Meet the Press."
State Sen. Don Perata, D-Oakland, praised the governor's statement on
national television.
"The most important thing right now is that the governor said that, because
there has been general skepticism statewide, reflected both in anecdotes and
public opinion polls, that we are in fact facing a crisis," Perata said. "If
you don't believe, you won't conform, you won't respond."
But, he said, Davis will not get the conservation he wants unless consumers
are given financial incentives. Perata said he will propose legislation today
to give $1 billion to customers who cut down on their electricity use during
the summer months.
Severin Borenstein, director of the Energy Institute at the University of
California at Berkeley, said if temperatures soar this summer, it will take a
"huge effort" to keep the state at safe electricity levels.
NEED FOR CONSERVATION
"We are in big trouble," Borenstein said. "That doesn't mean we can't avoid
blackouts -- that means we will have to take serious measures."
The needed steps include instituting variable prices for commercial and
industrial users that reflect the supply and demand at any given hour and
hooking up air conditioners to cycling systems, he said. For residential
users,
he said, it will mean increases for use above a certain level.
Forecasters predict a shortfall of at least 5,000 megawatts this summer, but
the state got some good news Thursday when the California Independent System
Operator, which coordinates the flow of electricity through the state's power
grid, removed all power alerts for the first time in more than a month.
Lorie O'Donley, a spokeswoman for the California ISO, said that she does not
expect any changes today but that it is too early to make any predictions
about the summer power situation.
"We still need to check the snowpack and the hills and the hydro situation in
the state," O'Donley said. "Conservation is a big part of it, and whatever
people can do to step up their conservation efforts will be a huge factor in
avoiding blackouts."
GOVERNOR DODGES BLAME
Davis appeared on "Meet the Press" while visiting Washington, D.C., for a
meeting of the National Governors Association and a concurrent meeting of the
Democratic Governors Association, which he chairs. With him on the program
were Sen. John Kerry, D-Mass., Sen. Pete Domenici, R-N.M., and Republican
Gov. Mike Huckabee of Arkansas.
Davis took the opportunity of the high-profile television show to tell East
Coast decisionmakers and Wall Street analysts that the blame for the state's
energy crisis does not lie with him and to reassure them that he is taking
solid steps to resolve the problem.
"Both President Bush and I inherited California, a flawed deregulation
system," he said during the broadcast. "Secondly, no major plant has been
built in California prior to my governorship for 12 years."
He outlined some solutions, including the approval of nine new power plants,
with six under construction and three expected to be online this summer, and
14 more in the pipeline.
In a slip of the tongue, Davis said on yesterday morning's broadcast that
consumers would need to cut electricity use to only 10 percent of last year.
"It will require every Californian using about 10 percent of the electricity
than they did the year before and a little luck in getting some extra
megawatts on line this summer," Davis said.
What he meant, a spokesman said, was they had to cut use by 10 percent.
Still, that will require significant sacrifice.
In addition, Davis has said that he wants to add 5,000 megawatts of power --
enough for 5 million homes -- by summer. He has promised to speed up the
approval process and provide bonuses to builders who finish before July.
The state also established an $800 million conservation program this year.
But Borenstein said that many of the ideas floating around for spending the
conservation money are for efforts that would not help for about another
three years.
ON NATIONAL MATTERS
During yesterday's show, Davis also weighed in on President Bush's tax-cut
proposal and former President Bill Clinton's controversial last-minute
pardons.
The administration should wait for a tax cut until the money is available, he
said.
"All of us who have been in government for a while have seen the roller-
coaster ride of surpluses and then shortages and surpluses and shortages," he
said. "Clearly, people need tax relief, but it should be moderated to the
point where we don't kill the golden goose, which is a strong, growing
economy. "
Although he received a significant campaign donation from the father of
Carlos Vignali, the Los Angeles drug kingpin, Davis told show host Tim
Russert that he never spoke with the family about the presidential pardon
Vignali received on Clinton's last day in office.
Davis said he did not have enough information to know whether the pardon was
a mistake, but, he said, "there's something about them in general that
doesn't ring right."
"However," he said, "people expect us to focus on things that matter to them,
and they really want to see progress on education, the environment, tax
relief, health care."
Asked by Russert whether he is going to run for president in 2004, Davis did
not rule it out but said that only re-election to the governorship in 2002 is
on his horizon.
"I'm focused on keeping the lights on and making our schools better," he
said.
E-mail Tanya Schevitz at tschevitz@sfchronicle.com.
,2001 San Francisco Chronicle ? Page?A1


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I was just denied access to deal 145893???  What's up?