We are trying to close with Delta, and they saw a March 20th draft.  Also, I
had it  revised to take out E Next and substitute the llc.  So now I have two
versions.  Just trying to get it clear.  I've spoken with Lee about revising
the contract to pick up the new contract, leaving the "old" turbine in the
master agreement, to be included in the LV Co Gen break out contract.

Couldn't be simpler.

Kay

	From:  Dale Rasmussen @ ECT                           03/30/2001 04:54 PM

To: Kay Mann/Corp/Enron@ENRON
cc:

Subject: Re: GE LM-6000 purchase contract for Las Vegas Cogeneration II
project

The answer is yes-sort of.

The last thing I heard, 3 of the 4 current turbines are to go to Delta, with
the 4th (August '01 delivery) to go to LV Cogen 2.

The real twist on this now will be the fact that we will need to somehow
break the 4th turbine out from the contract.  At the same time, we have to
confirm that the pricing (and related LD's, etc.) that would otherwise apply
to the new turbines actually get assigned to the Delta turbines (in order to
make our EPC contract for LV Cogen work right.

No headaches, eh?

Kay Mann@ENRON
03/29/2001 05:02 PM
To: Dale Rasmussen/HOU/ECT@ECT
cc:
Subject: Re: GE LM-6000 purchase contract for Las Vegas Cogeneration II
project

Is this for the  turbines being sold to Delta as opposed to the new
replacement equipment?

Thanks,

Kay

Dale Rasmussen@ECT
03/27/2001 01:19 PM
To: lee.johnson@ss.ps.ge.com, Bill Williams/PDX/ECT@ECT, Kay
Mann/Corp/Enron@Enron, scofer@llgm.com, tconstan@llgm.com
cc: Jody Blackburn/PDX/ECT@ECT, Ed Clark/PDX/ECT@ECT

Subject: GE LM-6000 purchase contract for Las Vegas Cogeneration II project

Bill Williams has confirmed that the attached version of the LVC-2 contract
is the final form.  I have added a footer stamp identifying it as "Rev 5 -
3/27/01".  Everything else is identical to the draft circulated March 12.

The second attachment is to be inserted as Exhibit H-2 in the contract.

Thanks.


---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/31/2000
04:11 PM ---------------------------

Pinnamaneni Krishnarao
03/30/2000 01:40 PM
To: Vince J Kaminski/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Joseph
Hrgovcic/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT, Jason Sokolov/HOU/ECT@ECT,
Vincent Tang/HOU/ECT@ECT, Martin Lin/HOU/ECT@ECT, Maureen
Raymond/HOU/ECT@ECT, Paulo Issler/HOU/ECT@ECT, Michael Sergeev/HOU/ECT@ECT,
Farouk Lalji/HOU/ECT@ECT, Amitava Dhar/Corp/Enron@ENRON, Alex
Huang/Corp/Enron@ENRON, Ronnie Chahal/HOU/EES@EES, Kevin
Kindall/Corp/Enron@ENRON, Clayton Vernon/Corp/Enron@ENRON, Ravi
Thuraisingham/Enron Communications@Enron Communications, Leandro
Ibasco/Corp/Enron@Enron, Yanna Crystal/Corp/Enron@ENRON, John
Henderson/HOU/EES@EES, Shirley Crenshaw/HOU/ECT@ECT, Shalesh
Ganjoo/HOU/ECT@ECT
cc:
Subject: reminder: April 1st party

Be there for the party at 4PM Saturday. Have our ph. # 's with you just in
case you get lost.
(Home: 281-240-5705, Cell: 713-433-3158) There are copies of directions at
Shirley's desk.

Krishna.


Call me or Beverly at 853-6357


Grant,
 I have incorporated the language you provided to me in the attached
document.  I have been informed by the Corporate Secretary's office that they
will issue a Certificate of Incumbency showing that the person executing the
contract for ENA is authorized to execute contracts for ENA.  No other party
signs as to form or terms, however, the officer executing for ENA will
require that the deal person and I initial on the line next to his
signature.  I have reviewed the proposed draft resolution.  ENA will accept
the enacted resolution and will not require that the City Attorney issue an
opinion.  If the attached contract is acceptable, please print off 2
originals, have them approved, signed and forward to me for ENA's approval
and signature.  Once the contract is fully executed, I will return one fully
executed original to you for the City's file.


Darla, this invoice is incorrect.  Please send out the manual invoice I sent
you.


I'm sorry tomorrow afternoon is not available for me.  I have a ortho. appt. and I get my braces off.
On Thursday afternoon I have to back for my retainers.
Can we meet sometime in the morning.

DS

	  From:  Ava Garcia                           06/04/2001 03:04 PM

To:	Kimberly Watson/ET&S/Enron, Richard Hanagriff/ET&S/Enron@ENRON, Darrell Schoolcraft/ET&S/Enron@ENRON, Lynn Blair/ET&S/Enron@ENRON
cc:

Subject:	TW Imbalance Mtg.

There will be an Imbalance Mtg. on Wednesday June 6th at 3:00p.m.-4:00p.m. to meet in Lynn's office.  This is in addition to TW Imbalance Mtg. to be held on Tuesday, June 12th.  Please let me know if you will be able to attend.

If you have any questions please let me know.

Thanks,
Ava-35842


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 - AEP TRO Order.PDF


BUSINESS HIGHLIGHTS

East Power Group
The East Power Group is off to another strong start in 2001.  The realignment
of the group into regional business units with joint trading, mid-marketing,
and origination operations has proven to be a catalyst for deal flow,
producing both a high volume of transactions and high value.  More
transactions were executed in January than any month last year, including one
deal that will bring tremendous strategic value to Enron as well.

Executed in January, was the purchase of two 35 MW coal-fired cogeneration
facilities located in southeastern North Carolina.  ENA will supply steam to
the industrial host, Alamac Knit Fabrics, and will sell power into the
merchant market.  The plants are inside Carolina Power & Light's service
territory, which is connected to AEP, Virginia Power, Duke, SCEG and SCPSA.
These plants are the first purely merchant facilities in North Carolina.
This deal exemplifies how Enron leverages its talent in that originators from
the East Power Group and Industrial Markets Group joined forces to bring this
deal to execution.  They also leveraged the Global Markets group to manage
the coal supply and emissions issues.

Prospects going forward look promising as a number of high value transactions
are in the pipeline.  Of particular note is The Sandhill Power Project, a 180
MW peaking facility currently under construction in Austin.  The facility is
scheduled to come online in June, in time for the advent of deregulation in
Texas. The joint venture, between EPMI and Austin Energy, will provide both
trading groups with a highly flexible asset, enabling them to access
real-time volatility while hedging existing obligations.

Additionally, the Fort Pierce (Florida) City Council voted 5 to 0 in favor of
Enron's proposal to repower the Ft. Pierce Utilities Authority's (FPUA)
existing power plant in that city.  Our proposed 180 MW facility will be used
to produce steam to power the H.D. King facility at approximately 20 percent
less cost than FPUA can produce it.  According to FPUA officials, this
reduction in cost may lead to reduced rates for their ratepayers.  The
planned in-service date is summer of 2002.

Industrial Markets
EIM Fundamental Analysis Group grows again!  The Fundamental Analysis Group
continues to expand its staff and capabilities.  They will be introducing you
to specific activities in the weeks to come, but would like to introduce you
to the new staff members who have joined in the past month.

On the paper/pulp/lumber side, Bin Wang is responsible for supporting the
lumber group; Adnan Patel will be assisting with newsprint and structured
transactions.

For the steel group, Doug Parsons and Yana Kristal are providing market
analysis and econometric/price forecasting support.  Our latest recruit,
David Maxwell, is assisting with the evaluation of a customer management
system and developing analytical databases for all product lines. A visible
enhancement to the group,s operations has been the Intranet web site, which
has been in development for the past three months.  The site will be
transferred to a production server by the end of February.  The site contains
all types of industry, market, regulatory, analytical, and financial
information for deal analysis.

Another major development is the adoption of a customer information
management system.  EIM is currently evaluating Siebel Systems, a software
provider that has developed this type of information tool for EES.

IN THE NEWS

Enron has been named the "Most Innovative Company in America" for the sixth
consecutive year by Fortune.  That's right -- six years in a row.   We
continue to be recognized by our industry peers and other corporate
executives and securities analysts as the company that sets the standard for
doing business in the new economy.  Congratulations to all of you for making
it happen.

Enron placed No. 18 overall on Fortune's list of the nation's 535 "Most
Admired Companies," up from No. 36 last year.  We also were ranked among the
top five in "Quality of Management," "Quality of Products/Services" and
"Employee Talent."

This issue of Fortune is now available in airports and will be on newsstands
Monday, Feb. 12.  For more information, go to www.fortune.com.

NUGGETS & NOTES

"The revolution has begun......"  - Ted Bland, Director/HR Recruiting
Operations

"We trade propane and propane accessories" - Adam Gross, Director/Global LPG
Trading-EGM

WELCOME
New Hires
EGM - Robert Beyer, Jacqueline Darrah, Herbert Goodwin, Vera Ilyina, Tracy
James, Christopher Mulcahy, LaBricia Seyrus
ENA - Tonya Dennis, Kathryn Sheppard, Bin Wang

LEGAL STUFF

The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries.  It is intended for internal use only
and should not be disclosed.


Steve, FYi this is what we are going to discuss tomorrow  you are welcome to
join us.........
---------------------- Forwarded by Cindy Olson/Corp/Enron on 12/19/2000
06:08 PM ---------------------------

Gerry Gibson
12/19/2000 11:34 AM
To: David Oxley/HOU/ECT@ECT, Robert Jones/Corp/Enron@ENRON, Marla
Barnard/Enron Communications@Enron Communications, Elizabeth
Tilney/HOU/EES@EES, Gary P Smith/OTS/Enron@ENRON, Drew C Lynch/LON/ECT@ECT,
Jon_zagrodzky@mckinsey.com, Cindy Olson/Corp/Enron@ENRON
cc: Beverly Stephens/Corp/Enron@Enron, Norma Yeverino/HR/Corp/Enron@ENRON,
Sandy Stone/Enron Communications@Enron Communications, Ruth Ann
Brown/HOU/EES@EES, Carolyn Perry/OTS/Enron@ENRON, Rachael Adams/LON/ECT@ECT,
Hilda Bourgeois-Galloway/Corp/Enron@ENRON, Kathy McMahon/Enron
Communications@Enron Communications

Subject: Partnerhsip & Peer Group Meeting

Hi Folks:

Just a friendly reminder regarding the Partnership & Peer Group Follow-up
meeting that will take place on December 21st from 8:00 - 10:00 in the 50M
Exec. Dining Room.  Below are the next steps that we agreed to the last time
we met.

Next Steps (from Dec. 15 meeting):

1. Refer to page 10 of the document (reviewed by Jon Z.) and take a stab at
mapping out how each of your current organizations would fit within this
structure (Commercial, Strategic Professional & Technical and Support Tracks)
2. Begin to build / refine / specify the criteria for a role / position being
in one or more of the three "Tracks"
3. Highlight / document specific adjustments / key potential "Business Unit
-specific issues and questions" that should be considered.
4. Begin to develop / suggest evaluation / "PRC" criteria (pages 11 & 12)

Regards, Gerry G.


he's a trip


I believe ,,I am 7 & 2


actually a terrible game.  bonds didnt get a ball out of the infield in the air.  granted we werent exactly pitching strikes to him.

 -----Original Message-----
From: 	Thomas, John Buckner
Sent:	Wednesday, October 03, 2001 10:59 AM
To:	Arnold, John
Subject:	RE:

how was it?

 -----Original Message-----
From: 	Arnold, John
Sent:	02 October 2001 11:49
To:	Thomas, John Buckner
Subject:	RE:

just bot them.  I'll save one for you.  just let me know asap.

 -----Original Message-----
From: 	Thomas, John Buckner
Sent:	Tuesday, October 02, 2001 11:46 AM
To:	Arnold, John
Subject:	RE:

yes and yes.  supposed to go to a dinner, but I might be able to flake. do you really have an extra ticket?  I should know in the next hour about dinner-

 -----Original Message-----
From: 	Arnold, John
Sent:	02 October 2001 11:42
To:	Thomas, John Buckner
Subject:

hey buddy:
heard you're in town.  any interest in going to the bb game tonight? have some right field homerun catching seats


Jeff -- Here's the info for Monday:

Marathon Communications Inc.
8436 West Third Street, suite 700
Los Angeles 90048
323-655-4660

We'll be meeting with Joan Kradin (svp) and Rich Lichtenstein (president) at
11 a.m.  I've told them we'll spend a couple of hours going over our issues
and concerns with California (regulatory, commercial, legal, public
perception, etc...) as well as our current activities (ENA, EES, etc.) and
what we'd like to do going forward.   They'll then put together a plan and we
can get them on retainer by Nov. 1.

What other agencies do we have on retainer? (McNally Temple, the guy who did
the focus groups, etc.)  Do you know what their monthly retainer is?  I'd
like to get a sense of what we're already spending.

Looking forward to seeing you Monday.  Have a great weekend!
kd


I'd prefer to skip.  How big of a problem would that be?

From: Susan M Landwehr on 05/14/2001 03:09 PM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron
cc: Maureen McVicker/NA/Enron@Enron, Ginger Dernehl/NA/Enron@Enron, Paul
Kaufman/PDX/ECT@ECT

Subject: Gov Geringer meeting

Steve/RIck ---as you may be aware, Governor Geringer personally asked Ken Lay
to come to the kick off meeting of the Wyoming Energy Task Force, a group
that was created by legislative mandate last month.  The meeting is on May
30th in Cheyenne.  Mr. Lay told the Governor that he would not be able to
make it on that date, but promised that a senior Enron exectutive would be
there.  I spoke with Governor Geringer's staff person again this past week
and was hoping that Paul Kaufman could be the senior executive, but no such
luck (unless you give Paul a huge new title!).

In talking with Maureen I understand that you have a previous conflict Steve,
but I am hoping that you can review your calendar to see if you could make an
adjustment in order to meet the request of the Governor.  Your speech would
be in the morning--I've been told about 9 o clock or so---which would allow
for you to leave by noonish.

I


Here are the travel arrangements you asked for.

Thanks
Lisa x39194
---------------------- Forwarded by Lisa Shoemake/HOU/ECT on 04/24/2001 08:29
AM ---------------------------

sandra delgado <sdelgado_vitoltvl@yahoo.com> on 04/23/2001 01:23:01 PM
To: LISA.SHOEMAKE@ENRON.COM
cc:
Subject: 08MAY HOUSTON TO ST LOUIS = DON BAUGHMAN = TICKETED

                                          AGENT JS/SS BOOKING REF
ZYPFJE

                                          BAUGHMAN/DON

  ENRON
  1400 SMITH
  HOUSTON TX 77002
  ATTN-LISA SHOEMAKE X39194

  DATE:  APR 23 2001                   ENRON

SERVICE               DATE  FROM           TO             DEPART
ARRIVE

CONTINENTAL AIRLINES  08MAY HOUSTON TX     ST LOUIS MO    115P    319P
CO 1062    Q          TUE   G.BUSH INTERCO LAMBERT
                            TERMINAL C     TERMINAL M
                                                          NON STOP
                            RESERVATION CONFIRMED         2:04 DURATION
                  AIRCRAFT: BOEING 737-500
                            SEAT 15D NO SMOKING CONFIRMED BAUGHMAN/DON

CONTINENTAL AIRLINES  09MAY ST LOUIS MO    HOUSTON TX     645P    900P
CO 3739    Q          WED   LAMBERT        G.BUSH INTERCO
                            TERMINAL M     TERMINAL B
                                                          NON STOP
                            RESERVATION CONFIRMED         2:15 DURATION
                            FLIGHT OPERATED BY CONTINENTAL EXPRESS
                  AIRCRAFT: EMBRAER EMB 145
                            SEAT 09B NO SMOKING CONFIRMED BAUGHMAN/DON

      AIR FARE 206.51       TAX 23.99           TOTAL USD
230.50

                                        INVOICE TOTAL USD
230.50

PAYMENT: CCAX378501848782000/0303/A000021

RESERVATION NUMBER(S)  CO/N61WW1

BAUGHMAN/DON                             TICKET:CO/ETKT 005 7027685498

NON-REFUNDABLE TKT MINIMUM $100.00 CHANGE FEE
***********************************************
HIS IS A TICKETLESS RESERVATION. PLEASE HAVE A
PICTURE ID AVAILABLE AT THE AIRPORT. THANK YOU
                  THANK YOU FOR CALLING VITOL TRAVEL

__________________________________________________
Do You Yahoo!?
Yahoo! Auctions - buy the things you want at great prices
http://auctions.yahoo.com/


CANADIAN ENERGY TOWN HALL MEETING

Sponsored by:
Province of Alberta, Canada
Province of British Columbia, Canada
University of Houston Energy Institute

Topic:
"Security of Supply North American Energy Markets"
Wednesday, November 28, 2001
Fairmont Hotel Oak Room
Corner of Ross & Akard Dallas, Texas
Time: 2:30-4:00pm

You and your colleagues are invited to attend this unique discussion
about the increasing importance of Canada's energy-rich provinces to
North American energy supply and security.  Featured speakers include
Alberta Energy Minister Murray Smith, British Columbia Minister of
Energy & Mines Richard Neufeld, and several senior executives of U.S.
and Canadian energy firms with substantial stakes in Canada's top energy
plays, including the MacKenzie Delta, Western Canadian Sedimentary Basin
and Atlantic Canada offshore.  Dr. Michelle Michot Foss, Director of the
Energy Institute of the University of Houston, will facilitate
discussion in a highly interactive town hall format designed to
encourage audience participation.

The Energy Town Hall session is one of several energy-related activities
now planned as a part of Canadian Prime Minister Jean Chretien's
upcoming Trade Team Canada West Mission to Dallas on Wednesday, November
28th.
In addition to the Prime Minister, the Premiers of Canada's energy-rich
western provinces, including the Honorable Ralph Klein, Premier of
Alberta, and the Honorable Gordon Campbell, Premier of British Colombia,
will attend.  Trade Team Canada events on Nov.28 include the Team Canada
Luncheon, featuring the Prime Minister as keynote speaker and Texas
Governor Perry as special guest, and an evening Team Canada Business
Reception.

To register for the Energy Town Hall in Dallas on Wednesday, Nov.28,
please simply reply to this e-mail with your contact information.
Registration materials will be sent to you.  For questions about the Town
Hall or the Team Canada program, please do not hesitate to call  Scott
Flukinger at the Canadian Consulate General in Dallas at tel.
214-922-9812, ext. 3355, or Reah Reedy at ext. 3356.


NUMBER:
>30202245464
01/22/02    NON-CHECK FINANCIAL DATA FOR REF. #    30202245464
ACCOUNT: 40781075      ENRON CORP-ECT CASH SVC
            AMOUNT      POST DATE  VALUE DATE   CODE      BATCH/TRACK       DUP
        195,600.00       01/22/02    01/22/02    479     650000000571         1
TRANSACTION DESCRIPTION
SAME DAY DR TRANSFER
         GID:LCT20221518600
         FED20020122B1Q8024C004654
         USER REF:TWS000379500
         REF:      TWS000379500
         ORDER:    ENA CASH SERVICES
         CR BK ID: 021000021
         CR BK:    JPMORGAN CHASE BANK FORMERLY CHASE
          MANHATTAN BANK,N.A NEW YORK, NY 10004
         BENEF:    323009980 ENTERGY KOCH TRADING
         DETAILS:PRE PAY FOR JANUARY POWER
         INSTRUCT DATE:01/22/02 ADVICE TYPE:MAIL


Please see the following instructions for the new messenging board.  If you
have any trouble entering into this site, please let me know.  Everyone
should now be setup and ready to go. You will have to add this site to one of
your favorites.

The Gas Message Board application can run on both IE5.0 and IE5.5 now.

Attached is the URL for user to run the application.

http://gasmsgboard.dev.corp.enron.com

Please feel free to forward above URL to people who like to test the
application.

Here is the steps they should do:

1) Launch Internet Explorer

2) Type: http://gasmsgboard.dev.corp.enron.com (or just open this email and
click on above URL)

3) Users should see the messages if there is any new messages for today. If
they don't see any messages, there are two reasons:
 (1) They are not valid users. Their names have not been added into the NT
Web_GasTraders Group yet. Please contact Chrysti Hardy to add their names
into the group.
 (2) There is no new messages added yet.

4) Click on "Comments" button to add messages: there will be a popup window
when user clicks on "comments" button. There are two ways to send the
messages after typing the
messages into the text box:
 (1) just simply press enter to send the message. or
 (2) click on "send" button to send the message.

5) After the message has been sent, The message will be displayed on the main
window immediately, the rest people who are online will get the new message
in less than 30 seconds. This time can be reduced to as less as 1 second.
However, I would not recommend to reduce the time interval less than 10
second.  Because each time the browser refreshes the screen, the screen will
be blink. Users don't want the screen blink every second while they read the
messages.

6) All messages will be cleaned up daily at 6:00PM. If they like to clean
them up later than 6:00PM, please let me know. I can reset the time.

Note: Right now the application is under test environment. If they like it, I
will move it into production environment soon.

Let me know any feedbacks.

Thanks,

Fangming


Myself,  being of Mexican descent there is no need for this snake oil.
Please double check with the Russell Belato's of the world.


The attached model has the RAROC and COS model in the various spreadsheet.
The rates I gave on the matrix and the COS rate track for the 500 MMBTU/d
expansion at the $613,500M unleveraged.  We would experience negative
depreciation for the first five years of the project.  Under the 70/30 debt
equity scenario we would have a rate about $.58 and that tracks with the DCF
model, and we would have escalating depreciation rates over the term of the
project.


All:

	Please let me know if you have any questions regarding the utilization of the PAA Program at this point.

	As noted, the remaining balance is now "pooled", but any requests should be submitted as soon as possible, and no later than 30 November.

Brian

 -----Original Message-----
From: 	Hutcherson, Leesa
Sent:	Tuesday, November 20, 2001 10:21 AM
To:	Batista, Daniel; Carlson, Jim; Crum, Dea; Dodd, Wilford; Dorris, Marsha; Fagan, Fran; Fox, Sherry; Goetzinger, Marilyn; Hamilton, Ivan; Harkreader, Jerry ; Hasenjager, Norma; Pena, Renee; Schaffer, Brian; Scott, Tracy; Southard, Miranda; Vaughn, Ann
Cc:	Domke, Jana; Denby, Michele; Smith, Gary; Perry, Carolyn
Subject:	PAA

As discussed in our staff meeting yesterday, the 2001 PAA Program will end effective December 3, 2001.  Any and all PAA/American Gift Check requests must be received on or before November 30 to allow time for processing.

In addition, the total remaining balance may now be shared by all division heads.  The current balance as of the 11/13/2001is $126,950.00.


Listed below are the items Cambridge Energy distributed during the month of
June.  A summary of
each is provided below.
**********************************************************************
CERA Monthly Summary
**********************************************************************

Title: CERA Monthly Summary for June 2000
Author: CERA
E-Mail Category: Monthly Summary
Product Line: Monthly Summary ,
URL: http://www.cera.com/cfm/track/eprofile.cfm?u=5526&m=1260 ,

Table of Contents

1] Bonn Climate Change Meeting: Treading Water
2] Hitting Retail Energy Over the Net: e-Commerce Companies Join the Game
3] The Turkish Parliament Votes on the Blue Stream Tax Protocol
4] More Oil Is Coming into the Black Sea: Will It Cause a Bosphorus Crisis?
5] European Green Energy: Let the Market Decide
6] Pastrana: Facing the Sunset?
7] ANP Round Two: Brazil's Upstream Auction?
8] Brazilian Power Markets: Demand Recovery Gathers Steam but Supply
Questions Remain
9] Mexico after the Elections: The Real Battle Begins
10] Colombia: Weary of War, Wary of Peace
11] Argentine Power Markets: Winter Constraints Push Prices Higher in May
12] US Gas Markets Reach New Heights: Where Will It Stop?
13] Monthly Briefing--The Pressure Cooker
14] Western Canada Supply Growth: Getting Nowhere Faster
15] North American Gas Watch: Reaching New Heights
16] Closing the Utility Stock Valuation Gap: Does Strategy Matter?
17] The Summer 2000 Spot Electricity Markets Outlook: Divergent Trends in
Price Volatility
18] Atlantic Basin Gasoline Markets Soar
19] Refined Products Line--US Markets
20] Refined Products Line--European Markets
21] Recent Actions Signal Progress Toward MTBE Elimination
22] Refined Products: Market Update
23] New Peaks, New Prices
24] Oil Market Turmoil: OPEC Seeks a Short-term Fix
25] The State of the Oil Market: Market Supported, Psychology Enhanced, and
OPEC Driven
26] OPEC's Cautious New Agreement

**********************************************************************
                CERA Alert : 06/22/2000
**********************************************************************

Title: Bonn Climate Change Meeting: Treading Water
Author: Kaplow
E-Mail Category: Alert
Product Line: Climate Change and Environment
URL:
http://www.cera.com/client/cce/alt/062200_15/cce_alt_062200_15_ab.html

Summary:
The recently concluded 12th Session of the Subsidiary Bodies in Bonn, the
next-to-last negotiating session before the details of the Kyoto Protocol are
scheduled to be finalized in November, made little progress on key issues.
But the meetings did serve to highlight divisions within the three
negotiating blocks and identify the most contentious areas for future
discussion.

**********************************************************************
                CERA Private Report : 06/22/2000
**********************************************************************

Title: Hitting Retail Energy Over the Net: e-Commerce Companies Join the Game
Author: Robertson, Behrens, Biehl
E-Mail Category: Private Report
Product Line: Retail Energy Forum,Energy & e-Business
URL:
For Retail Energy Retainer Service members:
http://WWW.CERA.COM/client/ref/pr/062100_12/ref_pr_062100_12_ab.html

For e2 Business Retainer Service members:
http://WWW.CERA.COM/client/e2/pr/062100_12/e2_pr_062100_12_ab.html

Summary:
The retail energy industry and the Internet are becoming increasingly
interlinked. The past 12 months have seen the formation of a wave of new
retail energy businesses seeking ways to utilize the Internet to create a
"new" retail energy industry. The difference is that this "new" industry will
invert the energy supply chain and be built from the demand side (customer
end) back upstream. This fosters a new role for customers and their
relationship with suppliers, an expansion in the number and types of products
and services being offered, and a change in the composition of the companies
involved in this segment. In this Private Report we analyze these new
entrants, their business models, and the prospects for success in what to
date has been a difficult marketplace.

**********************************************************************
                CERA Alert : 06/02/2000
**********************************************************************

Title: The Turkish Parliament Votes on the Blue Stream Tax Protocol
Author: Vatansever
E-Mail Category: Alert
Product Line: Eurasia Energy
URL:
http://WWW.CERA.COM/client/fsu/alt/060200_17/fsu_alt_060200_17_ab.html

Summary:
The last remaining obstacle to the Blue Stream gas pipeline project between
Russia and Turkey appears about to be cleared away. Over the past two days
the Turkish parliament has been debating a key tax protocol connected to the
project. CERA believes the measure is very close to passage, as the Turkish
governing coalition has successfully resolved its internal differences over
Blue Stream.

**********************************************************************
                CERA Private Report : 06/23/2000
**********************************************************************

Title: More Oil Is Coming into the Black Sea: Will It Cause a Bosphorus
Crisis?
Author: Gustafson
E-Mail Category: Private Report
Product Line: Eurasia Energy
URL:
http://WWW.CERA.COM/client/fsu/pr/062300_15/fsu_pr_062300_15_ab.html

Summary:
Crude volumes transiting through the Bosphorus will soon build rapidly as new
Caspian pipelines come online. This Private Report by CERA Director Thane
Gustafson explores how the increased costs and risks of shipping oil through
the Bosphorus will be handled.

**********************************************************************
                CERA Alert : 06/16/2000
**********************************************************************

Title: European Green Energy: Let the Market Decide
Author: de La Tournelle
E-Mail Category: Alert
Product Line: European Power
URL:
http://www.cera.com/client/ep/alt/061600_15/ep_alt_061600_15_ab.html

Summary:
The proposed directive on renewables issued by the European Commission on May
10 may appear to be a weak compromise between widely divergent interests.
Rather, CERA sees the proposal as a potentially important building block for
a competitive market in renewable energy sources; the establishment of a
method for guaranteeing a renewable origin for energy lays the foundation for
green energy markets in the medium term.

**********************************************************************
                CERA Decision Brief : 06/05/2000
**********************************************************************

Title: Pastrana: Facing the Sunset?
Author: Puyana, Scott
E-Mail Category: Decision Brief
Product Line: Latin American Energy
URL:
http://WWW.CERA.COM/client/la/db/060500_11/la_db_060500_11_ab.html

Summary:
Colombia is expected to begin an economic recovery in 2000 after a
contraction of over 5 percent in 1999. Despite this expansion, unemployment
levels will remain stable at 19 percent, and losses incurred by companies, by
individuals, and by the government through lower tax revenues during the last
nine quarters of negative economic growth will not be recovered this year.
The administration of Andr,s Pastrana Arango faces the difficult challenge of
getting the economy back in shape at a time when his popularity is waning.

**********************************************************************
                CERA Alert : 06/09/2000
**********************************************************************

Title: ANP Round Two: Brazil's Upstream Auction?
Author: Scott, Mattos
E-Mail Category: Alert
Product Line: Latin American Energy
URL:
http://WWW.CERA.COM/client/la/alt/060900_16/la_alt_060900_16_ab.html

Summary:
The opening of Brazil's upstream oil sector has taken another step forward
this week following the successful ANP auction of 21 blocks. This bidding
round comes one year after ANP's first round, held in June 1999. The bid was
well subscribed by 44 companies that were qualified to participate and bid
for the 10 onshore and 13 offshore blocks throughout nine basins in Brazil.
Although the ANP collected lower participation fees than in the first round
(US$9.0 million compared with US$9.8 million in the first round), the second
round was generally considered a success.

**********************************************************************
                CERA Alert : 06/16/2000
**********************************************************************

Title: Brazilian Power Markets: Demand Recovery Gathers Steam but Supply
Questions Remain
Author: Bailey, Mattos
E-Mail Category: Alert
Product Line: Latin American Energy
URL:
http://WWW.CERA.COM/client/la/alt/061600_17/la_alt_061600_17_ab.html

Summary:
Brazil's power demand grew rapidly throughout the first quarter of 2000.
February demand was 6.8 percent over February 1999 levels, and March demand
grew a further 7.6 percent above the previous year. The industrial sector
continued to lead the recovery with year-to-date demand growing 9.8 percent
over 1999, and commercial sector demand growth remained strong at 7.5 percent
over a similar period. As demand growth strengthened, hydro power generation
increased while thermal generation levels declined steadily from a peak in
January. Hydro stored energy levels had begun to decline in all regions by
the end of April, signaling the end of the wet season. With rapidly
increasing demand, particularly in the South and Southeast regions, Brazil
could experience power shortages during the coming dry season if capacity
additions that are currently scheduled to come online in the next several
months are delayed.

**********************************************************************
                CERA Decision Brief : 06/20/2000
**********************************************************************

Title: Mexico after the Elections: The Real Battle Begins
Author: Puyana
E-Mail Category: Decision Brief
Product Line: Latin American Energy
URL:
http://WWW.CERA.COM/client/la/db/062000_12/la_db_062000_12_ab.html

Summary:
For the first time in many decades, the presidential and parliamentary
campaigns are highly competitive, and the results of these democratically
conducted elections will have a large impact on the effectiveness and future
of the new administration. However, the real political battle begins after
the elections. Indeed, the winning party will have to exercise all its
political skills to create coalitions and advance negotiations in order to
take control of the government. Three different scenarios are portrayed in
this CERA Decision Brief.

**********************************************************************
                CERA Decision Brief : 06/26/2000
**********************************************************************

Title: Colombia: Weary of War, Wary of Peace
Author: Puyana, Scott
E-Mail Category: Decision Brief
Product Line: Latin American Energy
URL:
http://WWW.CERA.COM/client/la/db/062600_10/la_db_062600_10_ab.html

Summary:
July 2000 marks the second anniversary of the widely publicized visit of then
President-elect Andres Pastrana to elderly guerilla chief of the Armed
Revolutionary Forces of Colombia (FARC), Manuel Marulanda. Two years later,
the country is no closer to peace, and resolution of the ongoing negotiations
is uncertain at best. This prolongation and stagnation of the peace process
has had a direct negative impact on energy sector investment in Colombia. The
government will likely proceed with formal negotiations, but time--and
Pastrana's remaining term in office--is running out.

**********************************************************************
                CERA Alert : 06/30/2000
**********************************************************************

Title: Argentine Power Markets: Winter Constraints Push Prices Higher in May
Author: Bailey
E-Mail Category: Alert
Product Line: Latin American Energy
URL:
http://www.cera.com/client/la/alt/063000_16/la_alt_063000_16_ab.html

Summary:
Prices in the Argentine power market were significantly higher in May owing
to the combination of continued low hydro output, strong demand growth, and
periodic constraints on natural gas deliveries to power plants in the Buenos
Aires region. Spot power prices (energy component only) averaged $18.24 per
megawatt-hour (MWh) in May. Although average power prices declined from last
year, price volatility increased, with several short-duration episodes of
prices over $60 per MWh as gas unavailability in the Buenos Aires region
forced several midcost units offline during peak hours. In June, prices are
expected to continue strengthening to the $24-$28 per MWh range on average.
Beyond June, price pressures are expected to remain negative as increasing
hydro output, new and returning low-cost thermal capacity, and the end of gas
constraints push average prices back toward $15 per MWh or below by August or
September.

**********************************************************************
                CERA Alert : 06/01/2000
**********************************************************************

Title: US Gas Markets Reach New Heights: Where Will It Stop?
Author: N. American Gas Team
E-Mail Category: Alert
Product Line: North American Gas
URL:
http://www.cera.com/client/nag/alt/060100_15/nag_alt_060100_15_ab.html

Summary:
The US gas market enters the month of June with prices at the highest level
since deregulation. At the Henry Hub prices have surged to as high as $4.50
per MMBtu--up from less than $3.00 per MMBtu during April. Behind this has
been a building and serious shortfall of supply, the result of disappointing
gas production levels and surging gas demand for power generation. The gap
between these two forces has been met through storage inventories, with
injections so far this spring running between 1.5 and 2.0 Bcf per day below
last year's rate. The continued tension between these two forces will keep
the pressure on prices this summer, and the need to inject gas into storage
will price out increments of demand.

**********************************************************************
                CERA Alert : 06/15/2000
**********************************************************************

Title: Monthly Briefing--The Pressure Cooker
Author: N. American Natural Gas Team
E-Mail Category: Alert
Product Line: North American Gas
URL:
http://WWW.CERA.COM/client/nag/alt/061500_16/nag_alt_061500_16_ab.html

Summary:
Pressure remains extremely strong in the United States gas market as three
factors--the increasing power generation demand, lower storage inventories,
and US wellhead supply still struggling to rebound--call into question the
ability to build storage to a level adequate for next winter. Prices are
being supported also by concurrent strength in oil and liquids markets,
making traditional alternatives to gas much more expensive than in recent
years. In this environment intense competition between power generation
demand and storage injections will continue throughout the summer--with
pressure increasing into July as temperatures rise--with the result that gas
will continue to price at the high levels necessary to discourage end-use
demand. CERA expects a July average price of $4.45 per MMBtu.

**********************************************************************
                CERA Decision Brief : 06/15/2000
**********************************************************************

Title: Western Canada Supply Growth: Getting Nowhere Faster
Author: Eynon, Small
E-Mail Category: Decision Brief
Product Line: North American Gas
URL:
http://www.cera.com/client/nag/db/061500_18/nag_db_061500_18_ab.html

Summary:
As US supply declines and demand grows, current high gas prices are
reinforced, but western Canadian gas supply growth appears to be faltering
when it is needed most. Both transitory factors and enduring trends underlie
the disappointing production growth results. The largely weather-related
transitory factors have had a near-term impact on drilling and connection
activity. The underlying trends have been developing slowly over time. More
shallow gas wells have been drilled in the past three to four years and
created a shift to higher average basin declines and lower average per well
production rates. Thus more shallow wells are needed just to replace
production. With a shift to more exploration and deeper drilling, higher
supply growth rates are possible, but if that does not occur, other potential
supply sources may step in. Significant Arctic reserves in the McKenzie Delta
and the Alaskan North Slope are once again entering the spotlight. Coal bed
methane has become a str!
ong source of US supply. Although now ignored in Canada, it may become a
future source of Canadian gas.

**********************************************************************
                CERA Watch : 06/20/2000
**********************************************************************

Title: Reaching New Heights
Author: N. American Natural Gas Team
E-Mail Category: Watch
Product Line: North American Gas
URL:
http://WWW.CERA.COM/client/nag/wch/061600_11/nag_wch_061600_11_ab.html

Summary:
Fundamentals have taken center stage, as building demand pressure accompanies
US supply declines. Storage inventories have been significantly reduced, and
the pressure for storage injections is likely to intensify as we head into
the summer months. Demand-driven growth continues, as completions of
gas-fired power generation plants accelerate to a pace above 10,000 megawatts
per year and economic growth stimulates electricity demand. The result is a
higher-price playing field for natural gas, with the average Henry Hub price
likely to reach $3.67 per MMBtu for 2000--its highest level since the
development of spot markets.

**********************************************************************
                CERA Private Report : 06/21/2000
**********************************************************************

Title: Closing the Utility Stock Valuation Gap: Does Strategy Matter?
Author: Parshley
E-Mail Category: Private Report
Product Line: North American Power
URL:
http://WWW.CERA.COM/client/nap/pr/062000_14/nap_pr_062000_14_ab.html

Summary:
The stock market has been delivering an unsettling message to the utility
industry. Traditionally undervalued in the market, the sector is trading at a
historically wide 50 percent discount to Standard and Poor's S&P 500. The S&P
Utility Index over the past 18 months gained only 5 percent, with huge gains
by some energy companies offset by a 15 percent drop in stock price for 29
electric utilities. Yet early this year, the SPU outpaced all other industry
groups. How should constantly evolving utilities in this wide-open sector
form a strategic plan to maximize shareholder value while achieving success?
The value of electric utility merger and acquisition deals for 1999--a record
$50 billion--was double the 1998 value. But are these choices ahead of the
curve? And when will the market catch up? Three groups of new companies with
distinctive strategies may provide clues to the new strategic landscape:
multiservice and technology providers, superregionals, and global power and !
energy companies. Three other strategic choices are considered in evaluating
responses to these challenges.

**********************************************************************
                CERA Decision Brief : 06/23/2000
**********************************************************************

Title: The Summer 2000 Spot Electricity Markets Outlook: Divergent Trends in
Price Volatility
Author: Makovich, Sannicandro
E-Mail Category: Decision Brief
Product Line: North American Power
URL:
http://WWW.CERA.COM/client/nap/db/062200_18/nap_db_062200_18_ab.html

Summary:
While several regional power markets are likely to see a repeat of price
spikes this summer, other markets are likely to see a reversal in price
volatility as supply-demand balances improve dramatically. One way to
interpret forward markets is as a consensus of market expectations.
Therefore, forward prices for on-peak wholesale power reflect the common
expectation that prices will spike as high as--or even higher than--in 1999.
A significant disconnect exists between the forward market prices and market
fundamentals for the upcoming summer in some regional markets.

**********************************************************************
                CERA Alert : 06/02/2000
**********************************************************************

Title: Atlantic Basin Gasoline Markets Soar
Author: Meyers
E-Mail Category: Alert
Product Line: Refined Products
URL:
http://WWW.CERA.COM/client/rp/alt/060200_17/rp_alt_060200_17_ab.html

Summary:
Spurred by supply concerns at the start of the summer driving season, spot
gasoline-to-crude oil price differentials on both sides of the north Atlantic
have soared to the highest levels seen since the Gulf War. In CERA's view,
this strength in margins is attributable to the convergence of three factors:
very low inventories, tightening gasoline specifications, and legal
uncertainty.

**********************************************************************
                CERA Alert : 06/13/2000
**********************************************************************

Title: Refined Products Line--US Markets
Author: Refined Products Team
E-Mail Category: Alert
Product Line: Refined Products
URL:
http://www.cera.com/client/rp/alt/061300_18/rp_alt_061300_18_ab.html

Summary:
The US gasoline market exhibited exceptional strength during May. US Gulf
Coast unleaded gasoline surged to $8.40 per barrel measured against WTI, up
$3.58 per barrel over the strong April value of $4.82. Apparent demand for
gasoline skyrocketed to 8.64 million barrels per day (mbd) in response to the
start of the summer driving season. Despite increases in the reported demand
for distillate and jet/kerosene, these markets did not experience the same
month-over-month strength in differentials, dropping to $1.58 and $2.58 per
barrel versus WTI, respectively.

**********************************************************************
                CERA Alert : 06/20/2000
**********************************************************************

Title: Refined Products Line--European Markets
Author: Refined Products Team
E-Mail Category: Alert
Product Line: Refined Products
URL:
http://www.cera.com/client/rp/alt/062000_14/rp_alt_062000_14_ab.html

Summary:
As higher crude oil prices started to reduce the high product differentials
to Brent and thus lower refinery margins, refiners attempted to prevent this
situation from worsening by reducing throughputs. However, very tight markets
for gasoline and to a lesser extent for automotive diesel helped to limit the
fall in those products' values. Meanwhile, fuel oil discounts to crude oil
widened in May, driving down simple/hydroskimming margins.

In recent weeks, the combination of lower primary products inventories and
reductions in operations at some refineries has helped differentials to
recover. This has pushed margins to above May's averages, although still
below April's peaks.

**********************************************************************
                CERA Alert : 06/26/2000
**********************************************************************

Title: Recent Actions Signal Progress Toward MTBE Elimination
Author: Stackpole
E-Mail Category: Alert
Product Line: Refined Products
URL:
http://WWW.CERA.COM/client/rp/alt/062600_16/rp_alt_062600_16_ab.html

Summary:
The close scrutiny that federal reformulated gasoline (RFG) now faces from
the media and public officials owing to Midwestern market price spikes has
not stopped the inexorable political progress toward eliminating methyl
tertiary butyl ether (MTBE) use in the US gasoline pool. Additional
signposts, including heightened congressional debate over legislation
eliminating MTBE use and state actions to ban MTBE, continue to emerge that
point the way toward MTBE-free gasoline in the United States.

**********************************************************************
                CERA Alert : 06/29/2000
**********************************************************************

Title: Refined Products: Market Update
Author: Refined Products Team
E-Mail Category: Alert
Product Line: Refined Products
URL:
http://www.cera.com/client/rp/alt/062900_16/rp_alt_062900_16_ab.html

Summary:
Refined products markets continue to display marked regional differences. In
the Atlantic Basin, low gasoline inventories in both the United States and
Europe, which resulted from many months of OPEC production restraint,
continue to dominate the market, and gasoline differentials above crude are
at their highest level in over ten years. Although signs are emerging of a
possible correction in the North American market in the coming month, the
2000 gasoline season will almost certainly be the strongest experienced by
Atlantic Basin refiners in many years. In contrast, Asia Pacific spot
refining margins were weak through most of June, until the recent accident at
KPC's Mina al-Ahmadhi refinery prompted a quick strengthening in prompt
Singapore margins. However, with ample unused refining capacity available
east of Suez and the likelihood of a partial restart of the KPC refinery in
July, CERA's outlook is for that strength to be of short duration.

**********************************************************************
                CERA Alert : 06/23/2000
**********************************************************************

Title: New Peaks, New Prices
Author: Zenker, Moritzburke, Snyder
E-Mail Category: Alert
Product Line: Western Energy
URL:
http://WWW.CERA.COM/client/ce/alt/062300_17/ce_alt_062300_17_ab.html

Summary:
In the West, July typically marks the start of the summer cooling season and
steadily rising power prices. CERA expect the West to be the only region in
North America with a year-over-year increase in peak electricity demand.
Power prices already established new record highs in June, suggesting that as
demand reaches its peak in the coming months western power markets will
continue to experience increased volatility compared with last year's levels.
The convergence of higher gas prices, growing power demand, and reduced
hydroelectric energy production compared with 1999 levels is pushing up
western power prices. Greater utilization of gas-fired generators within the
West has supported western differentials and contributed to high gas prices
throughout North America. Western gas prices should continue to be strong,
boosted by continuing increases in regional gas demand for power generation
and pressure across North America to inject gas into storage in anticipation
of summer !
power loads.

**********************************************************************
                CERA Alert : 06/15/2000
**********************************************************************

Title: Oil Market Turmoil: OPEC Seeks a Short-term Fix
Author: World Oil Team
E-Mail Category: Alert
Product Line: World Oil
URL:
http://www.cera.com/client/wo/alt/061500_18/wo_alt_061500_18_ab.html

Summary:
Driven by strong demand--especially in the recovering Asian economies and the
United States--oil prices (both WTI and Brent) have again broken the $30
level--a mark that is of particular significance in this US election year. In
turn, the oil market's attention is again fixed on OPEC, as it prepares for
its June 21 meeting, but its members are deeply divided over how to respond.

**********************************************************************
                CERA Alert : 06/16/2000
**********************************************************************

Title: The State of the Oil Market: Market Supported, Psychology Enhanced,
and OPEC Driven
Author: World Oil Team
E-Mail Category: Alert
Product Line: World Oil
URL:
http://www.cera.com/client/wo/alt/061600_19/wo_alt_061600_19_ab.html

Summary:
The key ingredient in the volatile oil market is the new OPEC--and its
successful implementation of a strategy to keep supply one half step behind
demand-driving inventories down for crude, with the side effect of lowering
stocks for several products in markets such as the United States and Europe.
Three features of the current oil market are supporting prices:
* Market supported
* Psychology enhanced
* OPEC driven

**********************************************************************
                CERA Alert : 06/22/2000
**********************************************************************

Title: OPEC's Cautious New Agreement
Author: World Oil Team
E-Mail Category: Alert
Product Line: World Oil
URL:
http://www.cera.com/client/wo/alt/062200_16/wo_alt_062200_16_ab.html

Summary:
OPEC's agreement to raise its production quota beginning July 1 by 708,000
barrels per day to 25.4 million barrels per day is consistent with its
strategy of restraining supply to maintain oil inventories at relatively low
levels. The gain in supply is a short-term fix meant to alleviate political
pressure for increased production and to push prices below $30 but keep them
in a mid- to upper $20s range.

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CALENDAR ENTRY:	APPOINTMENT

Description:
	 Staff Mtg. Conference room EB4102

Date:		4/2/2001
Time:		10:30 AM - 1:00 PM (Central Standard Time)

Chairperson:	Outlook Migration Team

Detailed Description:


Due to the change over from Lotus Notes to Outlook, we are experiencing
some e-mailing problems.

Please let me know if you do not receive the summary.

Thanks for your patience.

Following please find the Daily EnronOnline Executive Summary.


Kent,
     If we do so, I would assume that the reasoning is based as much on pricing as it is on volumetrics.  What are Jo and Larry's views on the market at this point?

Dan

 -----Original Message-----
From: 	Miller, Kent
Sent:	Thursday, September 20, 2001 10:26 AM
To:	Horton, Stanley; McCarty, Danny
Cc:	Hayslett, Rod; Miller, Mary Kay; Neubauer, Dave; Fossum, Drew; Peters, Jerry
Subject:	October Operational Storage Purchase

Stan and Dan,

We are currently looking at our October storage plan and are recommending that we purchase 0.5 Bcf of operational storage for October. We need to begin doing the deals beginning Monday to get the gas in place for the month.

Our projected operational storage balance at the end of September is approx. 11.8 Bcf.  The recommended levels for October that were discussed with the customers in the SLA proceeding was a low of 8 Bcf and a high of 12 Bcf.  We feel that it would be prudent to be at or slightly above the high side of the range.  Both Mary Kay and Dave agree that a 0.5 Bcf purchase would match the strategy that has been discussed with customers in the SLA proceedings.  I have spoken with Jerry Peters and he feels that we have the necessary RAC approval based on last months approval process.

Operationally, 0.5 Bcf fits well with our physical plan also.  This leaves some room for potential long gas in Oct/Nov that would not compromise the integrity of the fields.

If you have any questions, please give me a call at x7417.

Thanks,  Kent


---------------------- Forwarded by Carla Hoffman/PDX/ECT on 11/29/2000 05:24
PM ---------------------------

	Enron Capital & Trade Resources Corp.

	From:  "Pergher, Gunther" <Gunther.Pergher@dowjones.com>
     11/29/2000 01:17 PM

To: undisclosed-recipients:;
cc:
Subject: DJ PG&E, Sempra, Morgan Stanley Defendants In Calif Lawsuit - DJ
Energy Cos Join Enron As Defendants In Calif Lawsuit

20:24 GMT 29 November 2000 *DJ PG&E, Sempra, Morgan Stanley Defendants In
Calif Lawsuit
(MORE) DOW JONES NEWS 11-29-00
03:24 PM
*DJ Energy Cos Join Enron As Defendants In Calif Lawsuit
(MORE) DOW JONES NEWS 11-29-00
03:25 PM Traders Allegedly `Fixed' Power Prices
LOS ANGELES (Dow Jones)--Energy marketing and trading companies that conduct
business in California were named in a lawsuit filed in San Diego Superior
Court Wednesday alleging traders "fixed" wholesale power prices and
conspired with other companies to raise the "market clearing bid" for energy
sold into the state's Power Exchange, resulting in more than $1 billion in
electricity overcharges last summer.
The complaint names as defendants PG&E Energy Trading, a unit of PG&E Corp.
(PCG), Dynegy Power Marketing Inc. (DYN), Morgan Stanley Capital Group Inc.,
Enron Energy Services and Enron Power Marketing Inc (ENE), Reliant Energy
Services, a unit of Reliant Energy Inc. (REI) Sempra Energy Trading and
Sempra Energy Resoures, a unit of Sempra Energy Inc. (SRE) Southern Company
Energy Marketing (SO), Williams Energy Marketing and Trading and Williams
Energy Services Co., Duke Energy Trading and Marketing LLC (DUK) and NRG
Energy (NRG).
The complaint, filed on behalf of sole plaintiff Ruth Hendricks pending
class action status by a judge, alleges the companies "anticompetitive
conduct included combining to restrain the amount of energy available
through the (CalPX) and ISO energy markets, conspiring to illegally obtain
and trade information relating to energy supply, pricing and demand, and
combining to raise the market clearing bid for electric energy on the CalPX
wholesale markets."
-By Jason Leopold; Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com
   (END) Dow Jones Newswires  29-11-00
2114GMT

18:55 GMT 29 November 2000 *DJ NOAA: 73%-83% Chance Above Normal Calif Temps
Nxt Summer
(MORE) Dow Jones Newswires 29-11-00
1855GMT
*DJ NOAA: 3.3% Chance Below Normal Calif Temps Next Summer
(MORE) Dow Jones Newswires 29-11-00
1856GMTDJ NOAA/Calif Temps 2-: Reports Have 60% Probabiity Rate
LOS ANGELES (Dow Jones)--Early prediction reports from the National Oceanic
and Atmospheric Administration indicate California has a 73%-83% chance of
above normal temperatures next summer, while the entire Western U.S. has a
78% chance of above normal temps.
A NOAA spokesman said early reports, which have a 60% probability, indicate
El Nino or La Nina effects could result in an unusually hot summer for
California between the months of July, August and September.
Normal temperature conditions for the summer of 2001 is a 23.3% to 13.3%
possibility and below normal is 3.3%.
A hotter than normal summer could also have a devastating impact on the
state's electricity resources, creating shortages that could lead to rolling
blackouts, according to the state's Independent System Operator.
-By Jason Leopold, Dow Jones Newswires; 323-658-3874;
jason.leopold@dowjones.com
   (END) Dow Jones Newswires  29-11-00
1940GMT

G_nther A. Pergher
Senior Analyst
Dow Jones & Company Inc.
Tel.  609.520.7067
Fax. 609.452.3531

The information transmitted is intended only for the person or entity to
which it is addressed and may contain confidential and/or privileged
material.  Any review, retransmission, dissemination or other use of, or
taking of any action in reliance upon, this information by persons or
entities other than the intended recipient is prohibited. If you received
this in error, please contact the sender and delete the material from any
computer.


The "Big E" Fantasy Football league has been setup!  Just go to
http://sportsline.commissioner.com/ and click on fantasy commissioner and
enter "ene" and it will take you to the league home page.  You can enter you
starting lineup any time you want and can make changes to your lineup up to 5
minutes before game time for that player.

Martin


Another key point:  to avoid the mistakes of California, policy makers must
make it easy to site and interconnect new generation.  In California peak
demand rose by about 5500 MW from 1996 - 2000.  The market responded with
porposed capacity additions of about 11000 MW.  Most of these facilities are
working thier way through the tangle of state and local approvals.  The
problems we saw in California did not need to occur if policy makers simply
enabled the market to work.  Also, it's worth noting that the deregulated
market did work.  Customers who signed with Enron saw a lower bill than
prederegulation, Enron hedged its commitments and so our customers (and
Enron) did just fine during the summer.  Deregulation worked; the problems in
California can be directly traced to continued regulatory interference in the
market.

	Susan J Mara
	11/17/2000 06:09 PM

		 To: Mark Schroeder/LON/ECT@ECT
		 cc: Bruno Gaillard/EU/Enron@Enron, Christopher J Day/Govt.
Affairs/LON/ECT@ECT, Jeff Dasovich/NA/Enron@Enron, Paul Dawson/Govt.
Affairs/LON/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Steven J
Kean/NA/Enron@Enron
		 Subject: Re: talking points on California situation

Mark,

Here's my shot.  I did it in Revision mode so you can see the changes.  Note
that Enron never got out of the retail market in CA and has gathered about
1,000 MW of retail load -- we're bigger than all but two of the municipal
utilities in the state.  Enron stopped marketing to residential consumers --
that's what all the  fuss was about in 1997.  Anyone else feel free to take
your own shot.

Sue

	Mark Schroeder@ECT
	11/17/2000 09:52 AM

		 To: Susan J Mara/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron
		 cc: Richard Shapiro/NA/Enron@Enron, Steven J Kean/NA/Enron@Enron, Paul
Dawson/Govt. Affairs/LON/ECT@ECT, Christopher J Day/Govt.
Affairs/LON/ECT@ECT, Bruno Gaillard/EU/Enron@Enron
		 Subject: talking points on California situation

Some of our people get asked on the phone about what is going on in
California.  I have drafted the attached paper for their use.  It is intended
to be simple and user-friendly.  Your thoughts on whether I achieved that
objectvie are welcome.  More importantly, I need you to confimr that I got
the story and facts correct, and that I have not said anything about the
situation that you (Enron USA) would not want to say, or have not said, or if
we have said something fundamentally different, I need to know that, too.
thanks for taking the time to review.  mcs


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Rick:
We need to add Janet on the call with Belden and Vicki?

Best,
Jeff

 -----Original Message-----
From: 	Dietrich, Janet
Sent:	Monday, September 24, 2001 10:21 AM
To:	Dasovich, Jeff; Mara, Susan
Cc:	Shapiro, Richard
Subject:	Intention to Challenge the California's PUC's Decision to Suspend DA

EES is fully on board with these pursuits...
---------------------- Forwarded by Janet Dietrich/HOU/EES on 09/24/2001 10:18 AM ---------------------------
From:	Jeff Dasovich/ENRON@enronXgate on 09/21/2001 03:48 PM
To:	Richard Shapiro/ENRON@enronXgate, James D Steffes/ENRON@enronXgate, Paul Kaufman/ENRON@enronXgate, Harry Kingerski/ENRON@enronXgate, Steven J Kean/ENRON@enronXgate, Susan J Mara/ENRON@enronXgate, Jeremy Blachman/HOU/EES@EES, Janet Dietrich/HOU/EES@EES, Vicki Sharp/HOU/EES@EES
cc:
Subject:	Intention to Challenge the California's PUC's Decision to Suspend DA

?	The PUC's decision 1) suspending DA and 2) signaling the PUC's intent to continue to consider nullifying DA contracts signed after July 1 is full of holes.
?	We haven't detected any downside in joining with coalitions, and trying to get other coalitions, to appeal the PUC order.
?	Sue Mara is working with the ARM coalition to appeal yesterday's order and is taking the lead generally on the effort to reverse things.
?	The appeals that we would join, and attempt others to persue on their own, would focus principally on two issues:  1) disabusing the PUC of the notion that it has the legal authority to nullify contracts retroactively, and 2) lifting the suspension on DA altogether (let me know if I've missed anything here, Sue).

Please let us know if folks have any concerns that would cause us to reconsider pursuing these challenges.

Best,
Jeff


I will let Joe know that you received his care package.  He will be very
happy.  When I get my pictures developed, I'll send you any good ones that
may have turned out.  It's O.K. to give Julie my e-mail address.  I would
love to communicate with her.   Take care.


kay, see when this is and if I can go?

Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 11/12/2000
03:39 PM ---------------------------

Greg Whalley
11/09/2000 02:55 PM
Sent by: Liz M Taylor
To: Kenneth Lay/Corp/Enron@ENRON, Jeff Skilling/Corp/Enron@ENRON, Mark
Frevert/NA/Enron@Enron, John Sherriff/LON/ECT@ECT, David W
Delainey/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, Cliff
Baxter/HOU/ECT@ECT, James M Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rick Buy/HOU/ECT@ECT,
Richard Causey/Corp/Enron@ENRON, Diomedes Christodoulou/SA/Enron@Enron, James
Derrick/Corp/Enron@ENRON, Andrew S Fastow/HOU/ECT@ECT, PEGGY
FOWLER/ENRON@enronxgate, Kevin Hannon/Enron Communications@Enron
Communications, Ken Rice/Enron Communications@Enron Communications, David
Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stanley Horton/Corp/Enron@Enron,
Larry L Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J
Kean/NA/Enron@Enron, Mark Koenig/Corp/Enron@ENRON, Mike
McConnell/HOU/ECT@ECT, Rebecca McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Jeffrey McMahon/HOU/ECT@ECT, J Mark Metts/NA/Enron@Enron, Cindy
Olson/Corp/Enron@ENRON, Karen S Owens@ees, Jeffrey Sherrick/Corp/Enron@ENRON,
Joseph W Sutton@Enron, Thomas E White/HOU/EES@EES
cc:
Subject: ENW Holiday Party Online Invitation

Here it is!  Your Enron Net Works Holiday Party Invitation.  Please click on
the attached link to launch.

http://207.21.193.94/Extravaganza.html

Please contact my assistant, Liz Taylor @ x31935, should you experience any
difficulty with the link.

Greg


Ken Lay wrote:

"Loyal -

I was really disappointed you and Lavonne were not able to make the Rees
reunion.  I was looking forward to catching up with both of you.

Our broadband business is doing great.  Just a few days ago, we announced a
video-on-demand service we will be providing with Blockbuster.  It has
created a lot of interest.

In general, my family is doing very well.  Linda and I now have six grandkids
(four new ones since the first of the year) plus Elizabeth's wedding.  Let's
stay in touch.

Ken"

Loyal Lay <loyal_lay@yahoo.com> on 08/05/2000 06:25:04 PM
To: klay@enron.com
cc:
Subject: Your E-mail address

Hi Kenny: Bonny sent me your E-mail address and
so I am trying it out. Sorry we could not make it
to the party. The temperature is very warm here
in Kansas today. I checked Enron stock recently
and it looks like it is doing fine. I am
particularly interested in your venture into the
fiber optics communications business and the
windpower. We sold our interest in the Cellular
business last year and I think the land line
company will be sold soon. We sold to Allied
Telephone Coimpany of Little Rock. Two other
engineers and myself put Kansas Cellular together
about 14 years ago. Then we built a fiber system
from East to West across Kansas. That was sold
with the Cellular. Take care of yourself-Loyal

__________________________________________________
Do You Yahoo!?
Kick off your party with Yahoo! Invites.
http://invites.yahoo.com/


We are building a model this a.m. to test calculation assumptions.  Has PG&E asked for any clarification or changes to my proposed calc.

I will have confirmation of the calc first thing this a.m. ( monday )

BT.
---------------------- Forwarded by Barry Tycholiz/NA/Enron on 04/16/2001 09:16 AM ---------------------------

Gerald Nemec@ECT
04/12/2001 05:43 PM
To:	Steve Van Hooser/HOU/ECT@ECT, Peter.meier@neg.pge.com
cc:	Barry Tycholiz/NA/Enron@ENRON

Subject:	Spread Value Calc.

Attached is a draft of the mark to market language per your discussion with Barry.  Please review and contact Barry directly to discuss.

Barry's numbers
(713) 667-9956 Home
(713) 302-6442 Cell


Commercialization of ENE Research/.Risk Management products.


Kelly M. Johnson
Executive Assistant
Enron Corp.
Tel: 713-853-6485
Fax: 713-853-2534
E-Mail: kelly.johnson@enron.com


Energy marketers make the money, get the blame POWER CRUNCH: But probes
likely to find it's all legal in deregulation era
The News Tribune, 02/13/2001

Enron Announces Dividends
PR Newswire, 02/13/2001

EOG Resources, Inc. Declares Increase of 14 Percent on Quarterly Dividend On
Common Stock
PR Newswire, 02/13/2001

EOG Resources, Inc. Declares Dividends on Preferred Stock
PR Newswire, 02/13/2001

Azurix says to end dispute with Argentine province
Reuters, 02/13/2001

USA: US Stockpile awards 3,400 tonnes lead to 3 firms.
Reuters English News Service, 02/13/2001

Marathon Oil in race for Enron stake in oil fields
The Financial Express, 02/13/2001

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

Front Page
Energy marketers make the money, get the blame POWER CRUNCH: But probes
likely to find it's all legal in deregulation era
Les Blumenthal
The News Tribune

02/13/2001
The News Tribune Tacoma, WA
South Sound
A1
(Copyright 2001)

WASHINGTON - Their names may not appear on your electric bill, but they are
the largest energy marketers in the nation, and they're cashing in on the
skyrocketing electric rates in the Northwest.

As ratepayers throughout the West are socked with double-digit increases in
their bills, regulators throughout the region are looking into suspicions
that this new breed of energy companies has manipulated the overheated market
to maximize profits. So far, there is no evidence they are doing anything
illegal.

California Gov. Gray Davis has called them pirates and plunderers. The San
Francisco city attorney has filed a $1 billion lawsuit against them, saying
they are playing with "marked cards" and looking to make a "quick buck" at
the expense of consumers. The Federal Energy Regulatory Commission is
investigating, as are state regulators in Washington, Oregon and California.

"Based on hints of manipulated energy supplies and allegations of price
manipulation, I think we owe it to Washington utilities and consumers to make
sure the soaring prices are not the result of illegal practices," Washington
Attorney General Christine Gregoire said in announcing her office's antitrust
division would investigate.

The power marketers, though, say they've done nothing wrong. The real
problem, they say, is there simply isn't enough power being generated to meet
demand.

The players include Enron Corp., Dynegy Inc., and Reliant Energy, all of
Houston; Duke Energy of Charlotte, N.C.; Southern Energy of Atlanta; AES Inc.
of Arlington, Va., and Calpine Corp. of San Jose, Calif.

Enron's profits were up 34 percent in last year's fourth quarter. Duke's
fourth-quarter revenues doubled; Dynegy's earnings more than doubled in the
fourth quarter.

"When we hear about these stunning profit increases, I think we need to
investigate," Gregoire said.

Corporate raider Charles Hurwitz also could profit handsomely. His Maxxam
Inc. owns Kaiser Aluminum Corp., which has shut down its Washington mills
and, under a special contract provision, is reselling power on the open
market for much more than it paid the Bonneville Power Administration, the
federal agency that sells hydropower generated at dams along the Columbia and
Snake rivers. Hurwitz could make half a billion dollars before the contracts
expire this fall.

And the holding companies of two huge California utilities on the edge of
bankruptcy have made billions of dollars off the West Coast electricity
market through a financial juggling act. Audits by outside auditors hired by
state regulators showed Southern California Edison and Pacific Gas & Electric
turned over billions to their holding companies, money that could have been
used to ease the cash crunch they now face.

The utilities say they were engaged in accepted business practices when they
transferred the money, which the parent companies used for such things as
stockholder dividends and stock buybacks.

"Is it capitalism or profiteering?" said Ed Mosey, a BPA spokesman. "The very
complexity of these markets allows these companies to hide in the grass."

A few years ago, the energy industry was tightly regulated and utilities and
generators were allowed to recover their costs and make a decent return on
their investment.

But beginning with the deregulation of wholesale electricity markets in 1992,
energy marketers, generators, independent power producers and others became
major players. Regulated utilities opened computer-driven trading rooms as
they scrambled to find the cheapest electricity available.

Now electricity is sold on spot and longer-term markets, traded for
electricity available in other parts of the country or even swapped for
natural gas.

"Power can pass through three or four hands before you even buy it," Tacoma
Power Superintendent Steve Klein said.

The latest jolts in the Northwest market began last summer when California
experienced severe shortages and prices soared.

Because the entire West Coast is connected by one power grid, the rate shocks
were felt in the Northwest and grew even more as California's problems
deepened and a winter drought prompted fears of a near-record low runoff in
the Columbia and Snake rivers.

Some called it a "perfect storm" scenario, and BPA saw the price it paid for
power in January grow sixfold over the previous year.

"We will buy from anyone who will sell to us at a reasonable prices, but the
problem is finding a reasonable price," said BPA Administrator Steve Wright.
"The marketers are recovering a substantial amount of money."

The same companies making money in California are making money in the
Northwest. "These are for-profit companies," said Mark Crisson, who heads
Tacoma Power. "These folks don't answer to a (state regulatory) commission
and they don't answer to ratepayers. They answer to their stockholders and
I've seen no effort by them to minimize prices."

Critics say the energy marketers have manipulated the market by shutting down
generating facilities in California in an effort to restrict the supply and
drive prices up.

According to some utility executives, generating plants are usually off-line
5 percent of the time because of unforeseen problems and that an off-line
average of 10 percent to 15 percent would be considered high. During some
months, certain California generating plants have been off-line 30 percent to
50 percent of the time.

"We are seeing abnormal rates," Crisson said.

Asked whether he thought the companies were manipulating, or gaming, the
market, Crisson said, "I would stop short of accusing them of that, but there
is something funny going on."

The California generators and marketers say the outages have been the result
of running aging plants hard in an effort to supply power in a tight market.

"We think these allegations are a little unfair," said Randy Wheeless, a
spokesman for Duke Energy, which operates four power plants in California.
Despite several investigations, Wheeless said, his and other companies have
always been cleared.

"We're trying to feed the market, not manipulate it," he said. "There isn't
any one single person or company to blame. The remedy is to get more
generation on line."

Enron doesn't own any power plants in California but sells and trades energy
throughout the West. Spokesman Mark Palmer agreed that the key to solving the
current crisis is adding more generation and truly deregulating the
California market so there is real competition. "Everyone is scrambling for
power," he said.
- - -
* Staff writer Les Blumenthal covers Northwest issues in Congress. Reach him
at 1-202-383-0008 or lblumenthal@mcclatchydc.com.

Enron Announces Dividends

02/13/2001
PR Newswire
(Copyright (c) 2001, PR Newswire)

HOUSTON, Feb. 13 /PRNewswire/ -- The Enron Corp. (NYSE: ENE) Board of
Directors declared today a regular quarterly dividend of $0.125 per share on
the corporation's common stock payable on March 20, 2001, to stockholders of
record as of March 1, 2001. The indicated annual rate is $0.50 per share. The
Board also declared a regular quarterly dividend of $3.413 on the Cumulative
Second Preferred Convertible Stock payable April 2, 2001 to preferred
stockholders of record as of March 16, 2001. The indicated annual rate is
$13.652 per share.

Enron Capital LLC, a wholly owned subsidiary of Enron Corp., declared its
monthly dividend of $0.166667 on the Enron Capital LLC 8% Cumulative
Guaranteed Monthly Income Preferred Shares for the month of February, payable
Feb. 28, 2001 to stockholders of record as of Feb. 27, 2001. The annual
dividend rate is $2.00.

Enron Capital Resources, L.P., a Delaware limited partnership in which Enron
Corp. is the sole general partner, declared its monthly dividend of $0.1875
on the Enron Capital Resources, L.P. 9% Cumulative Preferred Securities,
Series A, for the month of February, payable Feb. 28, 2001 to holders of
record as of Feb. 27, 2000. The annual dividend rate is $2.25.

Enron is one of the world's leading electricity, natural gas and
communications companies. The company, with revenues of $101 billion in 2000,
markets electricity and natural gas, delivers physical commodities and
financial and risk management services to customers around the world, and has
developed an intelligent network platform to facilitate online business.
Fortune magazine has named Enron "America's Most Innovative Company" for six
consecutive years. Enron's Internet address is www.enron.com. The stock is
traded under the ticker symbol "ENE".

/CONTACT: Karen Denne of Enron Corp., 713-853-9757/ 16:00 EST

EOG Resources, Inc. Declares Increase of 14 Percent on Quarterly Dividend On
Common Stock

02/13/2001
PR Newswire
(Copyright (c) 2001, PR Newswire)

HOUSTON, Feb. 13 /PRNewswire/ -- The Board of Directors of EOG Resources,
Inc. (NYSE: EOG) (EOG) has declared an increase in the regular quarterly
dividend to $.04 per share on the common stock of the company, payable April
30, 2001, to shareholders of record as of April 16, 2001. The indicated
annual rate is $.16.

"By increasing the dividend, we are signaling to shareholders that EOG
remains aligned with their interests," said Mark Papa, EOG Chairman and Chief
Executive Officer. "Last year we generated over $300 million of cash flow
beyond our capital program, and at current prices, we expect to generate
significant cash flow beyond our capital program again this year."

EOG last increased its dividend from $.12 per share to $.14 per share during
the first quarter 2000.

EOG Resources, Inc., formerly Enron Oil & Gas Company, is among the largest
independent (non-integrated) oil and gas companies in the United States, with
operations and substantial reserves in the U.S., Canada and Trinidad. EOG
common stock is listed on the New York Stock Exchange and is traded under the
ticker symbol, "EOG".

This press release includes forward looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Although EOG believes that its expectations are based
on reasonable assumptions, it can give no assurance that such expectations
will be achieved. The forward looking statements are given as of the date of
this document only and are based on current available information and
expectations. EOG does not undertake any obligation to update these forward
looking statements as conditions change or other information becomes
available. Important factors that could cause actual results to differ
materially from those in the forward looking statements herein include, but
are not limited to, the timing and extent of changes in reserve quantities
and commodity prices for crude oil, natural gas and related products and
interest rates, the extent of EOG's success in discovering, developing,
producing and marketing reserves and in acquiring oil and gas properties,
uncertainties and changes associated with international projects and
operations including reserve estimates, markets, contract terms,
construction, financing availability, operating costs, and political
developments around the world, and conditions of the capital and equity
markets during the periods covered by the forward looking statements.

/CONTACT: Maire A. Baldwin of EOG Resources, Inc., 713-651-6EOG, or
713-651-6364/ 15:40 EST

EOG Resources, Inc. Declares Dividends on Preferred Stock

02/13/2001
PR Newswire
(Copyright (c) 2001, PR Newswire)

HOUSTON, Feb. 13 /PRNewswire/ -- The Board of Directors of EOG Resources,
Inc. (NYSE: EOG) (EOG) has declared a dividend of $1,710.00 per share on the
Series D Preferred Stock of the company, payable March 15, 2001 to
shareholders of record as of March 14, 2001.

The Board also declared a dividend of $17.9875 per share on the Series B
Preferred Stock of the company, payable March 15, 2001 to shareholders of
record as of March 8, 2001.

EOG Resources, Inc., formerly Enron Oil & Gas Company, is among the largest
independent (non-integrated) oil and gas companies in the United States, with
operations and substantial reserves in the U.S., Canada and Trinidad. EOG
common stock is listed on the New York Stock Exchange and is traded under the
ticker symbol, "EOG".

/CONTACT: Maire A. Baldwin of EOG Resources, Inc., 713-651-6EOG, or
713-651-6364/ 15:40 EST

Azurix says to end dispute with Argentine province
BUENOS AIRES, Feb 13 (Reuters) - U.S. water company Azurix Corp. (NYSE:AZX -
news) said Tuesday it would formally agree this week to improve its Argentine
water services after it was accused of providing poor service to Buenos Aires
province.

Azurix, an affiliate of energy supplier Enron Corp. (NYSE:ENE - news) which
said in January it would take a fourth-quarter charge of $470 million on its
Argentine operations, had previously fended off the criticism by blaming
Buenos Aires province's poor infrastructure.

``This week an agreement will be signed,'' an Azurix spokesman told Reuters.
``The cost of the projects during 2001 will be less than $30 million.''

The dispute climaxed in January, when Buenos Aires province said it would
review Azurix's 30-year, $439 million water and wastewater service contract.
It said there were widespread customer complaints, such as low water pressure
and algae contamination in the city's reservoir.

Azurix argued that the province did not provide the necessary infrastructure
or allow the company to charge fair market rates for services.

Shares of Azurix added 1 cent at $8.32 Tuesday on the New York Stock
Exchange.

USA: US Stockpile awards 3,400 tonnes lead to 3 firms.

02/13/2001
Reuters English News Service
(C) Reuters Limited 2001.

NEW YORK, Feb 13 (Reuters) - The U.S. Defense National Stockpile Center said
Tuesday it awarded approximately 3,400 metric tonnes of lead to three firms
in its latest solicitation of offers.

Ney Smelting & Refining Co. Inc., Lead Products Co. Inc. and Enron Metals &
Commodity Corp. received the material for an estimated market value of $1.6
million.

Marathon Oil in race for Enron stake in oil fields
The Financial Express, 02/13/2001

Anupama Airy & Kavita Bhaskaran

New Delhi, Feb 13: The US-based energy major, Marathon Oil and Gas Company
has emerged as one of the strong contenders for picking up Enron's 30 per
cent stake in the Mukta, Panna and Tapti oil and gas fields.

Top industry sources disclosed that Marathon has also been shortlisted in the
first round of bidding along with Reliance and ONGC for buying Enron's stake
in these fields.

Whereas, both Reliance and ONGC are part of the consortia already developing
these fields, Marathon is the only company which has been shortlisted outside
the consortia.

"Currently, Marathon is doing the due diligence of Enron's assets following
which it will submit the financial bids along with other shortlisted
parties," the sources said.

Sources informed that Marathon possesses some of the best oil and gas
exploration technologies in the world, and, at one point of time, even ONGC
was in talks with Marathon for acquiring its technology.

Asked if there was any possibility of ONGC and Marathon joining hands for
submission of financial bids, industry sources said both the companies have
decided to bid independently.

Moreover, for all these discovered fields, ONGC does not require any
financial or technical support from others. Reliance, however, is not
qualified to be the operator of oil and gas fields as it does not have
sufficient experience in the area.

On the other hand, Marathon possess strong technical skills in this area and,
if selected, can easily qualify as an operator.ONGC is the biggest partner in
the consortium in terms of its equity stake.

It has 40 per cent with the remaining 60 per cent, shared equally between
Reliance Industries and Enron Oil and Gas India.

However, Enron is the operator of this $900 million joint venture between
Reliance and ONGC. Both ONGC and Reliance have the pre-emption rights by
virtue of being partners in the joint ventures operating these companies.

But this does not mean that they will get it any cheaper. They will have to
match the highest bidder, sources said.

It may be recalled here that Enron has recently decided to sell its entire
oil and gas assets in India. The buyer for these assets is to be selected
through a two-stage bidding process.

Credit Suisse First Boston has been appointed as the investment banker to
derive current value of its stake in the joint venture. These oil and gas
fields in Gujarat and Mumbai offshore are reportedly producing around 300
million cubic metre of gas and 29,000 barrels of oil per day.

Copyright , 2001 Indian Express Newspapers (Bombay) Ltd.


Edmund

Last year we pre-registered approvals to trade Coal in Europe on EOL - which
was a bit premature.

The commercial team are now ready to proceed with 'getting online' and have a
standard contract that Robert and Peter have worked on with which I believe
we can look to finalise the details of descriptions for EnronOnline. (copy
attached)

Please can we get together early next week to go through the steps required
to get this up and running?

tks

M


Please see the attached documents.

Mandelker document

Dasovich document

Luntz documents
 - PRINCIPLES 4 with notes.doc

 - Pro-Dereg - revised.doc
 - Pro-Reg-revised.doc

D. Haug's Response - Steve Kean Talking Points


Weather Headlines
Tuesday November 27, 2001

*** Very stormy pattern for the next few days as Canadian cold interacts
with Atlantic warmth. ***

     A series of strong storms are expected to run through the Continental
U.S. during the five-day period. One has already produced heavy snows in
the Northern Plains and is producing another round of strong t-storms along
the Gulf coast. The cold air has pushed far enough South through the Plains
to produce some snows into Northern Texas today. This cold is having a
difficult time pushing east thanks to a strong SE U.S. ridge. There will be
somewhat of an eastern push later in the week, but with a sizeable
weakening as it occurs. The next in the series of storms for the West mid
to late week appears to be a powerhouse. Rain along the coast will be
measured in inches (primarily from San Francisco North), mountain snows
will be in feet and all of this will be accompanied by strong winds. The
deep trough in the West will keep temperatures all through the region below
to much below normal. The extreme East remains above seasonal norms while
the rest of the country sees a fair amount of fluctuation on daily
temperatures depending upon their location in respect to these storms.

     The 6-10 day period it is safe to say will be less active than the
short range. That's not much of a stretch though given the magnitude of
short-term storms. The overall pattern does not change much with some
degree of trough still expected in the West. We will probably beat down the
SE ridge somewhat this period. It still looks doubtful to me that we would
see any sustainable cold air very far South into the U.S. In fact, the
trend in the arctic regions appears to be one of cooling during this
period. Typically when this happens, the result is one of warming in the
Southern half of Canada. I don't see a major warm up and in fact many areas
of the Lower 48 will be cooler than recent weeks. However, in a relative to
normal sense, I anticipate most areas to run near or slightly above normal
through the first week of December.

For the period Tuesday November 27 through Saturday December 1, expect the
following temperature trends:

Average 4 to 9 below normal: California, Desert SW, Intermountain West,
Rockies, Plains?

Average 1 to 3-degrees below normal: Great Lakes, Mississippi valley,
Pacific NW?

Average 1 to 3-degrees above normal: Ohio Valley, Gulf Coast?

Average 4 to 9-degrees above normal: Northeast, Mid-Atlantic, Southeast?

Andy Weingarten, Meteorologist  APB Energy / True Quote


Enjoy!
 - 20020202ERCOT_LOAD.XLS
 - 20020202ERCOT_FLOW.XLS


In addition to comments on FERC staff market mitigation plan, motions to
intervene in  Strategic Energy, PSNM, and Universal Studios complaints are
due this week.

It seems to me that all merit at least a plain vanilla intervenion, we may
want to consider requesting that PSNM be consolidated with EPMI's (and
other's) charge-back complaint.

Alan Comnes

PS For reference, here is Ron Carroll's list of open Calif. related FERC
dockets.

I have attached

From: Joe Hartsoe@ENRON on 03/16/2001 09:38 AM CST
To: James D Steffes/NA/Enron@Enron
cc: Alan Comnes/PDX/ECT@ECT, Harry Kingerski/NA/Enron@ENRON, Linda
Robertson/NA/Enron@ENRON, Mary Hain/HOU/ECT@ECT, Paul Kaufman/PDX/ECT@ECT,
Richard Shapiro/NA/Enron@ENRON, Steve Walton/HOU/ECT@ECT, Susan J
Mara/NA/Enron@ENRON

Subject: Re: Enron Activity At FERC      RE  California Issues

Jim -- We need to have a follow-up to our conference call.  Several items
need leads and we need to finalize who will be the lead of number 7, as we
discussed.  Also need to include Ray Alvarez on the distribution list.
Thanks Joe

	James D Steffes
	03/12/2001 05:51 PM

		 To: Susan J Mara/NA/Enron, Joe Hartsoe/Corp/Enron@ENRON, Alan
Comnes/PDX/ECT@ECT, Steve Walton/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT, Paul
Kaufman/PDX/ECT@ECT
		 cc: Richard Shapiro/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Linda
Robertson/NA/Enron@ENRON
		 Subject: Enron Activity At FERC      RE  California Issues

To make sure that everyone is on the same page with our FERC activities, here
is the list of current / pending activities.  Please advise if others exist
or I've mistakenly put someone's name on a project.

1. EPMI, etal Intervene on PX Credit Waiver for Interim Activity

Due 3.13.01
Enron Lead Richard Sanders

2. EPMI Intervene & Protest on ISO Motion to Obligate Information from
Suppliers

Due  3.16.01
Enron Lead Sue Mara

3. PX Issues with Implementing Revised Breakpoint for January Timeframe

Due 3.9.01 (with Supplemental Comments)
Enron Lead Alan Comnes

4. Tucson Electric PX Chargeback Complaint

Due 3.19.01
Enron Lead Uncertain

5. Strategic Energy ISO Complaint

Due 3.20.01
Enron Lead Uncertain

6. PNM PX Chargeback Complaint

Due 3.22.01
Enron Lead Uncertain

7. Civil Litigation Pleadings at FERC

Due Uncertain
Enron Lead Joe Hartsoe

8. EPMI PX Chargeback Complaint

Due
Enron Lead Richard Sanders

9. ISO Market Stabilization Plan

Due Not Yet Filed at FERC (may file 4.1.01), Comments to ISO Staff on 3.12.01
Enron Lead Sue Mara

11. Response to FERC Staff Report

Due  3.22.01
Enron Lead Sue Mara (will develop talking points to discuss with allies /
enemies)
Coalition Lead WPTF  Sue Mara   EPSA Joe Hartsoe

12. Rehearing on FERC 3.9.01 January Refund

Due 4.8.01
Enron Lead Will not respond if EPSA or WPTF

13. EES Support to Waive Underscheduling Penalty Fee of ISO

Due No action right now
Enron Lead Sue Mara


Should I send the book to your location?

Alma Martinez@ENRON
12/28/2000 10:18 AM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:

My new location is EB4768.  I have a crate.  Thanks for the offer.  I went
home early yesterday and found Stone in the living room carpet.  He was
playing with his toy.  I can be at work today with ease.

Thanks again, Alma


Enron employees may find the current circumstances stressful.  We want to remind you that Enron's Employee Assistance Program (EAP) is still available and currently offering services to assist you and your family.

Group Discussions
Beginning this week, Enron's EAP provider, Innovative Resources Group, will be facilitating group discussions for employees who are interested in attending. These sessions are designed to address the challenges employees may be facing and to suggest ways to minimize the impact of stress on employees and their families. These sessions will be held on Wednesday, January 30 and Thursday, January 31 at the following times in EB32C2:

	9:00 am -- 10:00 am
	11:00 am -- 12:00 pm
	1:30  pm --  2:30 pm
	3:30 pm --   4:30 pm

No advance registration is necessary -- simply come to EB32C2 at the scheduled day and time that is most convenient for you.

Onsite Confidential Counseling / 24 Hour Hotline
EAP Counselors are available for individual, confidential appointments onsite in the Enron Building or at a variety of neighborhood locations.  Counselors are also available via telephone 24 hours a day, seven days a week for Enron employees in all locations.  The EAP counseling service is provided at no cost to employees and their family members.  To schedule an appointment or speak with a counselor, please call the onsite office at 713-853-6057 or the 24-hour number at 1-800-345-1391.

Informational Brochures
Additional information about EAP programs will be available in the Body Shop, the Health Center on the third floor of Enron Center North and soon in the common kitchen areas on all floors of the Enron Buildings.

Websites
The following links may also provide helpful information:
www.stress.org -- This is the website of the American Institute of Stress. The site provides general information on stress management and links to other related sites.
www.wellnessjunction.com -- This website has been developed by Health Resources Publishing and provides targeted information on trends in wellness and health promotion.


Sounds good to me.  I'm in EB 3850.

	From:  Ken Loch                           08/14/2000 02:16 PM

To: Kay Mann/Corp/Enron@Enron
cc:

Subject: Re: Astros tickets

Kay,

I would like the two Astros tickets you have available for Saturday night,
August 19th.  I will bring a check for $50 tomorrow.  I will call you
tomorrow before I drop by your office.

Thank you,

Kenn Loch
713-345-8962